BusinessMirror March 02, 2020 by BusinessMirror

NO LETUP IN D.O.T. INTL MARKETING EFFORTS DESPITE COVID-19 CONCERNS By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

Image capture of the newly launched DOT ad dubbed “AbaKaDa,” aimed at showing tourists the ABCs of Philippine culture. PHOTO FROM DOT

NFAZED by the cut in major tourism activities owing to coronavirus disease (Covid-19) concerns, the Department of Tourism (DOT) will continue to promote the Philippines abroad. “In spite of the Covid-19 outbreak, we need to keep the Philippines top of mind in our key markets, so when they finally make the decision to take their vacations, they will still choose

us,” underscored Tourism Secretary Bernadette Romulo Puyat in a message to the BusinessMirror. The DOT just launched a new ad where culture buffs around the world can learn the ABCs of Philippine culture. In just a minute, the ABaKaDa music video is able to talk about 20 unique cultural facts about the Philippines represented by each letter of the Philippine alphabet. It starts with “A” for abaca accessories that many can admire for its beauty and sustainability, then “Ba” is for barefoot bounding while dancing the Tinikling. “Ka”

Monday, March 2, 2020 Vol. 15 No. 144

PHL loses first try to get WTO to punish Thailand

By Elijah Felice E. Rosales

@alyasjah

HE Philippines has failed to secure the World Trade Organization’s (WTO) approval to suspend concessions on $594 million of Thai imports as a retaliation for Thailand’s noncompliance with the ruling on their cigarette dispute.

According to documents obtained by the BusinessMirror, the Philippines failed in its first try to move against Thailand after the Dispute Settlement Body called off its Friday meeting. The DSB

meeting was suspended to give the two Southeast Asian nations more time to talk on the next step for their cigarette dispute. Thailand objected to holding the meeting unless the request for

retaliation is removed from the agenda, to which the Philippines refused. In February, the Philippines filed a petition with the WTO to suspend concessions and obligations

“What we are fighting for is the relevance of a responsive WTO. This is critical to show the world that countries who follow the rules, are also protected by the WTO.”—Lopez

to Thailand covering $594 million worth of trade yearly. This figure has yet to include additional compensation for certain tax notification requirements. Manila is requesting for retaliation to hold Bangkok responsible for its failure to comply with the WTO ruling on their cigarette dispute, which the Philippines won in 2011 but Thailand has yet to implement. See “PHL,” A12

BOC eyes ₧25-B rice tariff take in 2020

See “Rice tariff,” A2

PESO exchange rates n

See “DOT,” A2

P25.00 nationwide | 5 sections 30 pages |

NG SUBSIDIES TO GOVT CORPORATIONS BREACH P200B FOR FIRST TIME By Bernadette D. Nicolas @BNicolasBM

UBSIDIES extended by the national government to state-owned corporations ballooned to a recordhigh P201.52 billion in 2019, with the bulk going to the Philippine Health Insurance Corp. (PhilHealth), according to the Bureau of the Treasury (BTr). This was also the first time that subsidies granted to government-owned and -controlled corporations (GOCCs) breached the P200-billion mark. L atest d at a f rom BTr showed subsidies to GOCCs last year surged by 47.47 percent from the previous high of P136.65 billion in 2018. Of the total national government subsidy to GOCCs, half went to other government

corporations (P101.37 billion), 34.54 percent to major nonfinancial government corporations (P69.61 billion) and 15.16 percent to government financial institutions (P30.55 billion). Topping the list of GOCCs with the highest number of subsidy is PhilHealth with P72.70 billion, cornering 36.08 percent of the total. PhilHealth is mandated to provide health insurance coverage, and ensure accessible and affordable health-care services to Filipinos. Next to PhilHealth is National Irrigation Administration with P36.64 billion followed by Land Bank of the Philippines (P30.49 billion), National Housing Authority (P13.86 billion), Small Business Corp. (P1.5 billion) and See “Subsidies,” A12

Covid-19 forcing cuts in biz hours, work force By Samuel P. Medenilla @sam_medenilla

HE Bureau of Customs (BOC) is eyeing a 20-percent increase in its total rice tariff collection to reach at least P25 billion this year amid the downside risks posed by the coronavirus outbreak. Data from the BOC obtained by the BusinessMirror showed the grand total 2019 rice tariff collection before and after implementation of the rice trade liberalization law (RTL) reached P21.6 billion from traders who impor ted a record-high 3.13 million metric tons (MMT) of r ice, ma k ing the Phi lippines the world ’s top rice importer, exceeding China’s 2.4 MMT. BOC Assistant Commissioner and spokesman Vincent Philip

is for Kinetic kali combat, showing the country’s national martial arts, and so on. (View the ad at https://bit. ly/3cl4yvq) The ABaKaDa song lyrics, written in collaboration with and sang by Curtismith, also highlights oratories of Filipinos, polo and prints using pineapple fabrics, rondallas rhythm and river rafting, street dancing, tribal tattoos, the underground caves, and the wild and warm welcome of the locals, immersing tourists to the exceptional Filipino hospitality.

LEGACY OF ‘AMBA’ BusinessMirror Publisher T. Anthony C. Cabangon and ALC Media Group Chairman D. Edgard A. Cabangon (seventh and eighth from left) pose with the Gold Anvil trophy for “Mission: PHL, the BusinessMirror Envoys&Expats Awards” at the 55th Anvil Awards night on Friday (February 28). With them are (from left): Aldwin Tolosa, Bim Mauricio, Mike Policarpio, Britney Kang, Mila Molina-Lumactao, Psyche Roxas-Mendoza, Sharon Tan, Chuchay Fernandez, Czarina Blancaflor and Marvin Estigoy. “Mission: PHL” is an expanded offshoot of the paper’s Envoys&Expats page, as conceived by BusinessMirror’s late founder, former Philippine Ambassador to Laos Antonio L. Cabangon Chua. Story on page A12. BERNARD TESTA

HE prolonged impact of the novel coronavirus disease (Covid-19) on tourism and other sectors has already forced some companies to reduce their operation hours and even work force, according to the Department of Labor and Employment (DOLE). Labor Assistant Secretary Officer in Charge Dominique R. Tutay said they already got reports of firms which adopted flexible work arrangements like a reduced work week, as they grapple with the decline in the number of their clients because of Covid-19. “We are still consolidating and analyzing them [the figures of companies with flexible work arrangements] because even up to yesterday [February 29], we

were still getting such reports,” Tutay told the BusinessMirror via SMS.

Voluntary separation

Last week, flag carrier Philippine Airlines (PAL) announced its decision to implement a “voluntary separation program” for 300 workers as the effects of Covid-19 worsened the financial loses it incurred since 2017. “Their lawyer advised me that they will file the notice [related to the retrenchment] this Monday [March 2],” Labor Secretary Silvestre H. Bello III told the BusinessMirror in a separate SMS. Citing the report of their labor inspector, Labor Assistant Secretary Benjo M. Benavidez said 182 of the workers have already accepted PAL’s offer for a separation package. See “COVID-19,” A2

US 50.9370 n japan 0.4649 n UK 65.6425 n HK 6.5362 n CHINA 7.2720 n singapore 36.5140 n australia 33.4554 n EU 56.0409 n SAUDI ARABIA 13.5781

Source: BSP (28 February 2020)

News

BusinessMirror

A2 Monday, March 2, 2020

Senators still looking to SC to clarify role in treaty exit

By Butch Fernandez

@butchfBM

EN. Panfilo Lacson confirmed over the weekend Senate leaders are set to go to the Supreme Court to seek affirmation that the Senate mandate to ratify treaties like the Visiting Forces Agreement (VFA) also extends to their abrogation.

Lacson said he took up the matter with Senate President Vicente Sotto III, who assured him they will act on the matter. “We discussed it and SP [Senate President] said next week. But I think there’s a resolution that they’ll ask members to adopt on the floor although [it has no] bearing, strictly

DOT. . .

speaking. We want our members to be united when a petition is filed, unlike, say, where we have a resolution that is not adopted,” Lacson said in a mix of English and Filipino. Certain senators can file a petition “but the projection in that case is like, in our capacity only as taxpayers,” he added.

Continued from A1

During the launch of the new ad last February 27, Tourism Assistant Secretary for Branding and Marketing Howard Lance A. Uyking said, “After an amazing 2019, there’s no time to rest on our laurels—there’s always something brewing at the DOT—whether they’re new advertisements or digital innovations—so we can keep visitors and locals alike interested in what the Philippines has to offer.” Last year, foreign visitor arrivals reached 8.26 million, slightly breaching the DOT’s 8.2-million arrivals goal. Sustaining the “It’s More Fun in the Philippines” campaign, the ABaKaDa culture video is only one of the 10 tourism campaign videos of the DOT focusing on Philippine tourism products, said UyKing. The remaining videos focus will focus on sun and beach, nature and adventure, leisure and entertainment, MICE (Meetings, Incentives, Conferences, Exhibitions), culinary, education (English as a Second Language), cruise, health and wellness, and dive. These promotion videos target global tourists to further boost inbound tourism, he added. The DOT is also working on immersing tourists in the stories of every region. Sixteen tourism videos will highlight destinations of the regions, “inviting everybody to be part of a greater year while ensuring every experience to truly be part of the culture,” he said. The DOT had to postpone its nationwide shopping festival which was supposed to have been for the entire month of March, as more Covid-19 cases around the world were recorded. The 2020 Philippines Shopping Festival was being promoted to South Korea, Japan, Southeast Asia, and balikbayans (homecoming Filipinos).

ITB Berlin Through its marketing arm, the Tourism Promotions Board, the DOT was also supposed to lead a 28-man delegation to the International Tourismus Borse (ITB) Berlin, one of the world’s largest travel trade fairs which private tourism stakeholders make their mark with European buyers. The event, scheduled for March 4 to 8, was canceled due to the inability of the organizer to comply with the strict health requirements of local health authorities in Berlin. Despite the Covid-19 worries, the DOT has lined up a series of projects and programs to further boost foreign arrivals in the country. For one, Uyking said the DOT will be ramping up its nationwide accreditation efforts to help tourism stakeholders become globally competitive in its facilities services. The agency has also partnered with the Film Development Council of the Philippines to promote the country in the international film community. Dubbed “Film Philippines,” the program will provide incentives to attract film abroad producers to shoot their films in the country. Filipino creative minds can also join the “Go Create Getaway,” a new crowdsourcing campaign this summer, inviting tourists to become content creators and vloggers. It will be a competition to win exciting prizes, according to Uyking. The DOT targets to attract 9.2 million foreign arrivals and P661 billion in inbound tourism revenues this year.

Money laundering. . . BOC Assistant Commissioner and spokesman Vincent Philip C. Maronilla said in a phone interview that since the third quarter of 2019, they already got the information on the influx of passengers bringing huge amounts of various currencies. He added that, “ we were looking at it already, that there was an influx of passengers [bringing in] amounts in excess of that which is allowed to be declared,” Maronilla told the BusinessMirror. “As per our intelligence Group, the figures mentioned by Senator Gordon match the figures we reported to AMLC,” he added. Under existing laws, amounts of foreign currency exceeding

In contrast, if a resolution is adopted by a majority vote, “it seems more solid, like the Senate position is really that there’s a need to clarify what is the role of the Senate when it comes to [treaty] termination, or withdrawal.” Lacson admitted, however, that Sen. Aquilino Pimentel III was reported to be having second thoughts, when asked if Pimentel, who chairs the Senate Committee on Foreign Relations, was ready to endorse VFA abrogation by Monday. He conceded that senators have yet to resolve that issue. He quoted Sotto as saying Pimentel is reluctant to sponsor the resolution. “He offered if that task can be given to the vice chairman of the foreign relations committee,” Lacson said, but added they still have to discuss it with Pimentel. “We plan to talk to Senator Pi-

Rice tariff . .

$10,000 in value are allowed to be brought into the country for as long as they are declared. While he refused to disclose specific details on the nationalities of those they have identified to be declaring huge sums of currencies, he said most of those they have observed to be doing so in the past are mostly Asians. “Lately, there has been a spike in the number of those bringing in large amounts who claim that they are going to use it as an investment or they are going to invest in a business. The others claim to be tourists who plan to do some shopping,” he said in a mix of English and Filipino.

Archdiocese of Mla Apostolic Administrator lauds Eternal Plans on its 39th anniversary

ANIL A Auxiliar y Bishop Most R e v. Broderick S. Pabillo, DD, who was appointed Apostolic Administrator of the Archdiocese of Manila, lauded preneed industry leader Eternal Plans for helping many Filipinos face life’s challenges with courage and confidence. “It is true that with faith and trust in God, we can rest assured that what we hope and pray for will be fulfilled. But the saying goes, God helps those who help themselves,” Bishop Pabillo said in a special message for the 39th Anniversary of the company, adding that “Eternal Plans, with its preneed products, provides the means by which our countrymen can help themselves build a secure future.” Eternal Plans will be celebrating its 39th Foundation Anniversary on March 4, with the theme, Paramihin, Palawakin, Panalo sa 2020, which expresses

the company’s optimistic outlook in attaining a full recovery in the years ahead. Established by Ambassador Antonio L. Cabangon Chua in 1981, Eternal Plans is part of the Eternal Group under a bigger conglomerate, the ALC Group of Companies, along with Eternal Gardens, Eternal Chapels and Eternal Crematory Corp.

Continued from A1

C. Maronilla said in an interview that a higher rice tariff collection this year is achievable as the bureau tightens its watch on the valuation of rice imports this year while the government is implementing RTL. However, Maronilla said their rice tariff collection this year would still depend on the rice import volume considering that there was a 61.8 percent year-on-year decline in the volume as of February 14, a development that may have been partly caused by the outbreak of coronavirus disease 2019 (COVID-19). “As long as the volume increases, I think our collection will increase. If the volume remains constant, it will increase because you have to remember, if you take into consideration that will come in from January up to March, there’s going to be a significant difference from last year’s tariff rate and volume so our tariff collection will increase,” he said in a phone interview with the BusinessMirror. As of February 14, the BOC collected P1.71 billion in tariffs from traders who imported 209,320 metric tons of rice. The volume is lower than the 759,810 MT brought into the country during the same period in 2019. “But of course, this is tentative because we’ll see where the figure is after all of these things, in terms of the slowdown in the trade volume, how will this all play in terms of projection in rice imports to the country,” he added. Data from BOC also showed rice tariff collection before RTL settled at P9.28 billion from 1.1 million metric tons of rice imports. On the other hand, rice tariff collection after RTL amounted to P12.32 billion from 2.03 MMT of rice. The RTL, which took effect on March 5, 2019, liberalized the country’s rice trade by removing quantitative restrictions on rice imports and replacing it with tariffs. It also transformed the National Food Authority into a buffer-stocking agency. Tariffs collected from rice imports of private traders since the enactment of RTL will benefit palay growers as such

Continued from A12

mentel to tell him this is not a direct affront to what the President wants. Because Senator Pimentel may be weighing the fact that since he’s a party mate of the President, he may be seen as being antagonistic to what the President wants. So we want to make it clear to Senator Pimentel that such is not the intention of the resolution [and the planned SC] petition.” Lacson added that the move is not intended to benefit incumbent lawmakers, but for “the next generation of senators, so that the role of the Senate is clear.” He said they just want the SC to “clearly interpret something that is not explicit in our Constitution but logic dictates that if a supermajority vote of 2/3 is needed for ratification, it’s only right that a concurrence of the Senate is needed to withdraw from a treaty.”

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Reporting to AMLC

revenues are earmarked for the annual P10-billion Rice Competitiveness Enhancement Fund. The excess of P10 billion collected for RCEF will also be used to finance other programs to boost the yields of farmers and improve their global competitiveness. Leading the country’s sources of rice imports last year is Vietnam with 510,032 MT of rice before RTL and 1.76 MMT of rice after RTL, according to BOC. On rice imports coming from Vietnam, the BOC collected P1.93 billion before RTL and P10.75 billion after RTL. Prior to RTL, the second- and thirdbiggest country sources of rice imports in 2019 were Thailand (291,345 MT of rice) and Pakistan (172,729 MT of rice). After RTL, Myanmar (146,027 MT) and Thailand (118, 545 MT) followed Vietnam as top sources of rice imports. Aside from tightening its watch on the valuation of rice imports, the bureau, Maronilla said, will implement automation programs, and more streamlined processes this year in a bid to have a more conducive trading environment. “It has been our experience that once there is consistency and if there is a very good trading environment in terms of policies, streamlined processes, people tend to invest more in bringing in goods and going into these kinds of businesses like trading and importing raw materials for manufacturing,” he said. The United States Department of Agriculture expects the Philippines to remain as the top rice importer in the world this year as the country’s purchases are projected to reach 2.5 MMT despite the waning appetite of traders for the staple. For 2020, BOC targets to collect P731 billion, 10.6 percent higher than its goal of P661 billion in 2019. Citing lower import volume and delay in the implementation of the fuel-marking program, BOC missed its 2019 collection goal, and only achieved P630.47 billion or 95.4 percent of the target in 2019.

Despite the influx, Maronilla said he believes there were no lapses on the part of BOC as they are reporting the currency declarations to the AMLC. However, he said they will launch a review on the performance of BOC personnel in light of Gordon’s revelation. “I don’t think we have lapses, because those are not contraband. Our only requirement is to report that,” he said. For the meantime, Maronilla assured the public that the bureau is working with AMLC, as well as the National Intelligence Coordinating Agency, which intends to propose an interagency task force to address the particular issue. He also said they also want

Bernadette D. Nicolas

to coordinate their efforts with Gordon. As for AMLC, he said the BOC is requesting them to monitor the movements of these currencies. “Bringing into the country a large amount of currency is not per se illegal and, therefore, would not necessitate [right away] the conclusion that there’s money laundering. There has to be an evaluation on how thse particular currencies are being used which is AMLC’s work,” he said. Maronilla said it is important for BOC to get to the bottom of this issue since they don’t want the country to be tagged as a moneylaundering haven. “That will greatly affect some of our investments, and the way the world perceives us and we don’t want that.” He also added they are also

COVID-19. . . Continued from A1

“The rest are still deciding of they will accept the offer. Since it is a voluntary separation, it will depend on the worker if they will want to leave PAL and find a new job or start their own business,” Benavidez explained in an ambush interview. He said PAL extended its “above average” separation packages to the said workers, which is one month salary for each year of service, as well as the financial conversion of their leaves, and 13th and 14th month pays. The law requires employers to pay at least one-half month for every year of service.

Questionable timing?

Partido Mang gagawa (PM) slammed the PAL management for using Covid-19 as an “excuse” to continue the outsourcing of its ground crew departments, which started way back in 2011. Around 2,600 of PAL’s employees were displaced since PAL started outsourcing some of its departments in that year, the labor group said. However, based on the DOLE’s assessment, Benavidez said they found valid the grounds of PAL’s latest retrenchment due to financial losses. “Under the Labor Code, any employer may retrench an employee provided there is separation pay and proper notice,” Benavidez said.

Growing displacement

Aside from PAL, DOLE said that as of March 1, it has yet to get notices from other firms which will be laying off workers because of Covid-19. looking into intelligence reports coming from ACT-CIS Party-list Rep. Eric Yap that the money may be used to fund destablization plot against the government.

Swarm of syndicates

Drilon aired an alarm over the weekend against a swarm of money-laundering syndicates openly operating in the country. Drilon disclosed Sunday that “huge amounts of money” brought into the country by Chinese nationals are linked to “a moneylaundering scheme of organized syndicates.” Drilon, who steered passage of the 2001 Anti-Money Laundering law (Republic Act 9160) during his term as Senate President, said it was clear that “the country is being used for money laundering.”

However, it admitted that there could be such displacements in some sectors, particularly in the services and retail—both heavily reliant on the tourism industry. “If the number of tourists continues to drop, there will also be a lower demand for labor needs of hotels and restaurants. This is what we want to look into because if this trend continues, some companies will decide to retrench their workers or suspend their operations,” Benavidez said. The Trade Union Congress of the Philippines (TUCP) earlier estimated at least 7,000 workers employed in the “airlines, cruise ships, travel agencies and, hotel and restaurants” are at risk of losing their jobs in the next six months due to the effects of Covid-19. T UCP President R ay mond Mendoza urged DOLE to convene the National Tripartite Industrial Peace Council (NTIPC) to come out with mitigating measures for the expected mass displacement.

Government intervention

Tutay said concerned government agencies will convene on Monday led by the National Economic and Development Authority (Neda) on the mitigating measures. Among the issues that may be discussed in the meeting, she said, is the updated estimate of labor displacement due to Covid-19. Initial estimates from Neda pegged the Covid-19-related job losses could range between 30,000 and 95,000. Currently, Benavidez said DOLE will be providing its usual interventions to the workers, which will include emergency employment, livelihood assistance, and job facilitation. He said such blatant criminal activity has “never been seen” before, noting that the illegal operators “seem very confident that they will not be caught.” He noted that casinos are among the industries that anti-money laundering coalitions worldwide consider to be prone to moneylaundering schemes. In a statement, Drilon echoed suspicion that “millions of dollars brought into the country between December 2019 to February 2020 would be laundered through casinos and POGOs.” Under the law, any casino transaction of over P5 million should be subject to scrutiny by the AMLC, Drilon said, recalling that Republic Act 10927 puts casinos under the coverage of the Anti-Money Laundering law.

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Immigration arrests illegal foreign workers; intercepts trafficking victims By Recto Mercene

@rectomercene

IRPORT immigration intelligence operatives recently arrested seven illegal aliens at the Clark International Airport and intercepted eight trafficking victims at the premier airport. Immigration Intelligence Chief Fortunato S. Manahan said five Koreans and two Vietnamese working without permit in a construction site in Sharp Clark Hills, Angeles City, Pampanga, were arrested last February 11. The foreigners were caught in the act of working as laborers in a construction site in the area. Manahan said in a report to Immigration Commissioner Jaime H. Morente they received reports that aliens were working in the site without the proper visas. “We conducted a case buildup, and upon confirmation, the Commissioner issued a mission order to implement the arrest,” he explained. Manahan said the foreigners were found to be undocumented, prompting their arrest and possible deportation. The aliens faced immigration cases for violating the conditions of their stay, working without the appropriate permits, in violation of the Philippine Immigration Act of 1940, according to Manahan. They are temporarily detained at the Bureau of Immigration Detention Center in Bicutan, Taguig, pending deportation proceedings. Meanwhile, Manahan also reported the interception of trafficking victims on three separate occasions. Last February 24, Travel Control and Enforcement Unit (TCEU) officers intercepted four female victims who attempted to depart for Bangkok, Thailand, at the Ninoy Aquino International Airport (Naia) Terminal 3. The four initially pretended to be tourists traveling together for a vacation. However, it was found out they possessed visas issued from the United Arab Emirates and all eventually admitted to be bound for Dubai to work as household service workers. They admitted their documents were processed by a fixer they only knew as a certain “Mark.” Three days later, operatives again intercepted three more victims at the Naia Terminal 3 who attempted to fly to Brunei Darussalam. The victims claimed to be overseas Filipino workers (OFWs). However, system checks revealed that the Overseas Employment Certificates they presented were falsified and belonged to someone else. Two days later, on February 29, the eighth female underage victim attempted to fly out as an OFW to Riyadh at the Naia Terminal 2. During the interview, it was noted that she gave inconsistent statements and could not answer basic questions about her age. She eventually admitted to lying about her age by presenting a forged birth certificate. All eight were referred to the Inter-Agency Council Against Trafficking for assistance in the possible filing of criminal cases against their recruiters.

Editor: Vittorio V. Vitug • Monday, March 2, 2020 A3

Troops hunt down NPAs after skirmish in Quezon By Rene Acosta

@reneacostaBM

ECURITY forces are pursuing a group of New People’s Army (NPA) in Mauban, Quezon, whom soldiers encountered over the weekend following reports about the presence of rebels in the outskirts of the town. Checkpoints jointly manned by soldiers and policemen were ordered put up by Maj. Gen. Arnulfo Marcelo B. Burgos, commander of the Army’s

2nd Infantry Division (2nd ID), near and around Mauban as troops pursue the rebels. All available military assets in Southern Tagalog were also put on high alert and were ready to be deployed for fire support. On Friday afternoon, a firefight erupted when elements of the 1st Infantry Battalion (1st IB) attacked a harboring area of the NPA in Mauban, following reports

by villagers about the presence of the encamped rebels. Lt. Col. Jesus Diocton, commander of the 1st IB, said the soldiers reported recovering an M16 rifle and personal effects left behind by the rebels from the Platun A1 of the NPA under an alias Termo during the firefight. The 2nd ID also believed the rebels suffered casualties based on reports provided by informants along the

Lawmakers seek ban on child marriages, punishment vs online sex den operators By Jovee Marie N. Dela Cruz @joveemarie

ITH the celebration of the National Women’s Month this March, lawmakers are pushing for a bill prohibiting child marriage while calling on enforcement agencies to ensure that operators of online sexual exploitation dens are put behind bars. Bagong Henerasyon (BH) Party-list Rep. Bernadette Herrera-Dy cited the 2017 data of the United Nations Children’s Fund (Unicef) that revealed about 15 percent of Filipino women, aged 20 to 24, were first married or entered a union before they turned 18. “Child, early, and forced marriages pose risks and have serious impacts on the health and development of women and girls,” Herrera-Dy said in her House Bill 1486. “Child marriage is a grave form of violence against women and girls, and we must put an end to this vile practice.” Child marriage, defined as marriage before the age of 18 years, is considered a violation of the UN Convention on the Rights of the Child, which the Philippines ratified in 1990. The Family Code of the Philippines

sets the legal age of marriage at 18 years old and above, and highlights that consent must be freely given by both parties. Muslim minors, however, are an exception. Presidential Decree 1083, or the Code of Muslim Personal Laws, sets a lower age for marriage: 15 years old for male and 12 years old for females, as long as she has reached puberty. “Despite international and local legal frameworks, child, early, and forced marriages are still a growing trend in the Philippines especially in indigenous communities,” Herrera-Dy said. “To stop this form of abuse and exploitation, we should strengthen the implementation of the Family Code and repeal contradictory laws.” Under HB 1486, child marriage, as well as its facilitation and solemnization, shall be considered public crimes. Solemnizing officers and parents or guardians who arranged, facilitated and consented to a child marriage shall be penalized. The adult who contracted a child marriage with a minor aged 12 and below shall be imprisoned. Meanwhile, Tingog Party-list Rep. Yedda Marie K. Romualdez urged law

enforcers to work closely with their counterparts abroad and international organizations so that the financiers of these sexual dens are identified and brought before the bar of justice. Romualdez, chairman of the House Committee on the Welfare of Children, made the appeal as she commended law enforcers who rescued eight children and arrested two mothers in a series of police operations against online sexual exploitation over the weekend. Last February 20, a boy and two girls—siblings aged 10, 13 and 16 years old—were rescued in a police operation in Pampanga. They were apparently exploited online by their 40-year-old mother for money. Romualdez said international organizations have noted that with Filipinos consecutively topping the world in terms of social-media use, there is a lot of room for abusers to engage in sexual exploitation of children behind closed doors and in front of a webcam. The Philippines has been dubbed by the Unicef as the “global epicenter of the live-stream sexual abuse trade.” One in 5 Filipino children is vulnerable to online sexual exploitation, the agency said.

Lawmakers to Cayetano: Stop fomenting ‘chaos;’ stick to term-sharing deal

AWMAKERS appealed to House Speaker Alan Peter S. Cayetano to stop creating a scenario of uncertainty in the issue of the speakership as the chamber is now in “chaos.” Buhay Party-list Rep. Lito Atienza, in a statement, denied that there is an attempted coup against the current leadership amid the controversy on the ABS-CBN franchise renewal and national budget issues. “Stop creating a scenario of treachery and an attempted coup. There is no such thing, Mr. Speaker. You are creating the problem. There is no problem. Congressman Velasco, in his common sense, will not attempt anything because all he has to do now is wait until October when your term ends—that is, if you follow the gentleman’s agreement,” said Atienza. “You’re now meeting with the different party members and you are creating a gap between you and Congressman

Velasco. Does this mean that you are preparing to disengage from the gentleman’s agreement in sharing the House Speakership?” Atienza said in reaction to Cayetano’s statement accusing Marinduque Rep. Lord Allan Jay Q. Velasco of initiating a plot to unseat him. Atienza stressed that Velasco is not attempting to seize the speakership from Cayetano. “Velasco is not doing anything and has nothing to gain if he stages a coup. All he has to do is wait till October. Stop doing that Mr. Speaker,” he said.

Supermajority

HOUSE of Representative Electoral Tribunal Chairman of House Contingent and Oriental Mindoro Rep. Doy C. Leachon slammed Deputy Speaker for Finance Luis Raymund F. Villafuerte for calling on the supermajority coalition to defy the term-sharing agreement between Cayetano and Velasco.

This, after Villafuerte challenged Velasco to just allow the members of the majority coalition to decide on the fate of the term-sharing agreement between him and Cayetano. “Velasco does not seem honorable enough to abide by something as basic as a gentlemen’s agreement, let alone one that had the imprimatur of Duterte who is the titular head of our ruling coalition?” Villafuerte said. He also claimed that 20-plus House members have separately told Cayetano that they have been offered by Velasco himself with committee chairmanships and extra budgetary allocations under his leadership. “Produce the names of those House members who were allegedly enticed with chairmanship position. Because that’s not true,” Leachon said. “We are House members and, as such, we are expected to maintain on ourselves our presumptive integrity

to adhere on the existence of common knowledge among us, particularly the term-sharing agreement especially, so that it was reached no less than before the President’s presence,” he added. Under the term-sharing arrangement, Cayetano would lead the House for 15 months up to October this year. Velasco would serve the remaining 21 months of the speaker’s three-year term of office.

Support

SEVERAL lawmakers, however, expressed support to Cayetano and said they will continue to support his stand on various national concerns, including the issue involving publicly listed ABS-CBN Corp. House Committee on Visayas Development Chairman Vincent Franco Frasco of Cebu said the 48 lawmakers from Visayas “remains fully supportive of [Cayetano], who has demonstrated

the kind of leadership, dedication and service to the people that we need to restore the public’s trust and confidence in the House of Representatives.” Frasco also disputed claims that the Visayan bloc wanted the Congress to act quickly on the issue involving ABSCBN’s franchise renewal. Frasco also said Visayas lawmakers recognize the importance of Congress tackling far more urgent matters, such as ways of mitigating the impact of the coronavirus disease 2019 (COVID-19) outbreak on the economy. Cayetano has already thumbed down calls pressuring the chamber to rush its decision on ABS-CBN’s franchise extension, assuring the network that it would continue to operate even with the lapse of its franchise on May 4.

Cayetano has said the Lower Chamber will hear the franchise in

August. Jovee Marie N. Dela Cruz

NPAs’ route of withdrawal. It said “heavy traces of blood, as well as human flesh were noticed by government forces in the encounter site.” At least three encounters have occurred in the areas of Mauban since January, indicating the regular presence of NPA members in the town. The 2nd ID allege villagers ratted out the NPA guerrillas.

Panelo: Govt to keep defense pacts with Japan, Australia and the US until expiry

ALACAÑANG on Sunday said the country’s goal of being “self-reliant” in ensuring national security is still a work in progress. In a radio interview, Presidential Spokesman Salvador S. Panelo said the government currently has no plans to scrap its existing military defense treaty with Japan and Australia. Panelo added they would also keep its remaining similar accords with the United States: Enhanced Defense Cooperation Agreement and Mutual Defence Treaty. “There is no reason to scrap those. But eventually, those have an expiry period. Maybe it will no longer be renewed or if the President will have reasons [to abrogate those],” Panelo said. He said foremost of the reason that President Duterte will consider in canceling the said military accords is if the other nations that signed the treaty will “attack or destroy” the country’s sovereignty. Panelo issued the statement amid reports quoting Ambassador to the US Jose Manuel Romualdez that the country is now eyeing a new military defense pact with the US government to replace Visiting Forces Agreement (VFA). He said Romualdez’s move hasn’t been approved by Duterte. The president cited alleged attempts by the US government to interfere with local affairs prompted him to order the cancellation of the VFA. He said the attempts includes the criticism of some US lawmakers on the government’s war against illegal drugs and to call for the release of Sen. Leila M. de Lima, as well as the cancellation of the US visa of Sen. Ronald M. de la Rosa. The Palace later issued the government’s policy of strengthening its capability in defending its own borders so it will no longer rely on military aid from other nations to do so. “We cannot always rely on other countries to defend us,” Panelo said. Samuel P. Medenilla

A4 Monday, March 2, 2020 • Editor: Vittorio V. Vitug

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‘Lack of incentives crimps investments in geothermal’

By Jonathan L. Mayuga

@jonlmayuga

ESPITE the country’s huge potential for producing renewable energy, the lack of incentives and limited access to land with sources of geothermal energy are holding back investors from venturing into geothermal, an official of the Energy Development Corp. (EDC) said. Interviewed on Friday at the sidelines of the Third Philippine Environment Summit held in Cagayan de Oro City, Allan V. Barcena, corporate social responsibility head said the company has no plan to expand or establish new concession areas. The company, Barcena said, is focused on putting up binary plants inside existing concessions. EDC currently operates geothermal plants in Kananga and Ormoc, Leyte; Valencia in Negros Oriental; Bacon in Sorsogon and Manito in Albay; and Kidapawan in

North Cotabato. These same sites will be the site of binary plants which the company will put up within the year. Unlike solar and wind power, Barcena said geothermal energy is not getting any incentive from the government, as a come-on for investors. “Given that wind, solar and hydro has an incentive, geothermal is not getting any incentive. We were told that geothermal is not a new technology but we are arguing that geothermal technol-

ENERGY Development Corp.’s Mount Apo geothermal plant PHOTO FROM EDC

ogy is evolving, like the reinjection technology,” he said. The company will build at least

four binary plants within its existing concessions to maximize the production capacity of its

geothermal plants. “We’ve been trying to advocate, even with this small binary plants to have incen-

tives, initially.” Binary plants are low-capacity plants ranging from 5 megawatts to 20 MW and are not as profitable. These are meant to maximize income sans the huge cost and the hassle of the permitting process in establishing new concession areas for a new geothermal plant, said Barcena. Fortunately, he said the company’s four operating geothermal plants in the country consistently produce energy. “Overtime, its production slows down but the upside in geothermal is they can be operated for a long period of time.” Barcena said accessing areas with geothermal potential is difficult because most these sites are in protected areas. The National Integrated Protected Areas System Act strictly prohibits “environmentally critical” projects within strict protection zones in PAs. “We don’t want to go into those areas that are very challenging in terms of permitting and stakeholder engagement,” he said. EDC also operates a solar farm, hydro plant, and has ventured into solar rooftops targeting shopping malls and learning institutions.

Exports of garments seen Sufficient data, budget to help improve irrigation systems–study posting flat growth in 2020 A By Cai U. Ordinario

By Elijah Felice E. Rosales

@alyasjah

HE garments industry is projecting exports to register flat growth this year, as firms struggle to alternative sources for raw materials outside of crisis-hit China. Robert M. Young, president of the Foreign Buyers Association of the Philippines (Fobap), said nearly all of the country’s apparel production is stopped due to the disrupted shipment of raw materials from source countries, particularly China. The Asian superpower is wrestling with its coronavirus crisis that forced many factories to shut down. As such, the Philippines has to find alternative sources for fabric, textile and accessories, as it has no respectable domestic output for these items. “At present, almost all of our apparel production are now halted due to raw materials delayed deliveries from China, Korea, Taiwan and other Asian countries,” Young said in a statement last Friday. “Reason being is that [the] Philippines has no local source or backup industries, such as fabric, textile and accessories, as every item is imported.” This was largely the reason the garments industry, which is trying to make a comeback through public and private efforts, is tempering growth forecast this year, expecting export receipts to stay the same or increase by just 1 percent. In spite of threats from the outside, Young argued the Philippines would keep its position in the worldwide market. His optimism is boosted by the looming passage of the proposed Corporate Income

Tax and Incentives Rationalization Act (Citira), which was approved last year by the House of Representatives and is now just awaiting Senate legislation. Young said the industry is anticipating new players to come in when the Citira bill becomes law, as it will reduce corporate income tax to 20 percent by 2029, from 30 percent at present—the highest rate in the whole of Southeast Asia. In terms of market, the Fobap chief said the United States will keep its status as the country’s largest buyer of clothing products this year. He added the US will further solidify this position if it expands the Generalized System of Preferences (GSP) of the Philippines to garments. As a GSP beneficiary, the Philippines can ship a total of 5,057 products to the US at zero tariff. “Right now the GSP is only for gift wares and all these hard goods,” Young explained. “We are hoping that in the new GSP come December 2020, we will include the footwear and garments in the US GSP.” Data from the Philippine Statistics Authority showed that exports of apparel and clothing products last year declined nearly 7 percent to $906.28 million, from $974.44 million in 2018. Last year, the Board of Investments unveiled a road map seeking to bring back the Philippines as one of the world’s largest exporters of garments. In the short term, the industry is required to grow by 12.3 percent annually starting this year to enter the circle of the world’s top 20 by 2022.

@caiordinario

DEQUATE data and the provision of “realistic” resources would help improve irrigation systems, according to a study released by the Philippine Institute for Development Studies. The study, titled “Assessing the Resurgent Irrigation Development Program of the Philippines-National Irrigation Systems [NIS] Component,” said data on potential irrigable areas have been inadequate, particularly on field-based information on soil texture and land suitability. Resources have also been lacking particularly for the operation and maintenance (O&M) of irrigation systems, as well as the completion of irrigation projects. “NIA [National Irrigation Administration] should allocate realistic resources for O&M, and formulate effective policies and incentive systems, so as not to defer O&M until the problem becomes a major rehabilitation project. The target is to establish the system condition near its design condition,” the study read. The study indicated that adequate resources are needed to address water losses, especially in Earth or unlined canals. Resources are also needed to adopt Integrated Watershed Management (IWM) to control runoffs and degradation; protect and conserve watersheds; enhance the water resource originating from the watershed; control soil erosion and reduce sedimentation; and increase the infiltration of rainwater. The study stated that the lack of budget was due to the focus of the NIS on new irrigation projects and less on completing existing projects. “In NIS, the trend of focusing on new projects instead of finishing up old/incomplete projects seems to demonstrate the lack of commitment to comply with

PHOTO shows the General Aguinaldo Communal Irrigation Project in Dinagat Islands, which was inaugurated by the National Irrigation Administration in 2016. NIA PHOTO

old project deliverables. But the contract should have been followed until completion,” the study read. “This may be in part due to lack of budget to finish up the incomplete projects or it could be that the feasibility of opening new projects with new budget seem more promising,” it added. The National Economic and Development Authority (Neda) said the availment backlog for overseas development assistance was at $1.42 billion in 2018. The top 5 agencies that did not meet

their scheduled availment as of 2018 for their project loans were: the Departments of Transportation (DOTr), of Public Works and Highways (DPWH), of Environment and Natural Resources (DENR), of Social Welfare and Development (DSWD), and the NIA. Neda said these agencies accounted for 91 percent of the total availment backlog. Data showed the DOTr accounted for an availment backlog of $724.34 million; DPWH, $406.9 million; NIA, $58.22 million; DENR, $52.34 million; and DSWD, $48.8 million.

NEA overshoots new consumer connections target for 2019, energization level at 95% By Lenie Lectura

@llectura

HE National Electrification Administration (NEA) has registered 586,144 additional consumer connections last year, 27 percent higher than its target of 460,000 for 2019. The new connections resulted in achieving an energization level of 95 percent under the franchise areas of different electric cooperatives nationwide. NEA oversees the operation of all ECs in the country. NEA Administrator Edgardo Masongsong said the overall level of energization within the coverage areas of nonprofit distribution utilities nationwide is at 95 percent, or 13,625,857 connections out of the 14,335,784 po-

tential consumers based on the 2015 census. Forty-seven percent of these consumer connections, or 6.429 million, are located in Luzon; 27 percent, or 3.641 million, in Visayas; and 26 percent, or 3.556 million, in Mindanao. The top 5 provinces with the highest number of consumer connections are Negros Occidental (616,041); Pangasinan (561,052); Batangas (512,242); Cebu (506,580); and Leyte (452,531). Masongsong said surpassing the target helps keep the staterun electrification agency, together with its 121 partner ECs across the country, on pace toward achieving the 100-percent energization target by 2022. “For this year to 2022, the chal-

lenge is the energization of the remaining 1,874,709 unserved consumers within the coverage areas of 121 electric cooperatives across the country,” he said. The NEA earlier said its national government subsidy allocation would prioritize ECs with low electrification rates—particularly those at 74 percent and below— that have good project liquidation performance. ECs in areas with problems on peace and order, financial liquidity, and those classified as “medium” and below would also be evaluated to be qualified for specific electrificationrelated projects. “Electric cooperatives with energization levels ranging 95 percent and above, based on the 2015 census without growth rate, shall

be the least priority for allocation,” said Masongsong. The so-called better-performing ECs will be required to utilize their internally generated funds; scout potential private investors for joint ventures; tap international, and local, grants and programs; and include in their capital expenditure project application to the Energy Regulatory Commission other necessary programs for development. For this year, the NEA has been given P2.3-billion national government subsidy for rural electrification projects based on the 2020 General Appropriations Act. Bulk of the amount or P1.399 billion was allocated for the continuing implementation of the Sitio Electrification Program.

Solar power

THE Asian Development Bank (ADB) said solar power is fast becoming a solution to address electricity needs in rural and remote areas across Asia and the Pacific region. In an Asian Development Blog, ADB Sustainable Development and Climate Change Department Chief of Energy Sector Group Yongping Zhai said this is one of the reasons for the region’s good progress in meeting the Sustainable Development Goal (SDG) on access to electricity. However, Zhai said solar power is still trailing behind as a cleanenergy cooking source which is also part of the SDGs—universal access to clean cooking. “The power of the sun should be

put to work as a clean-energy cooking source in Asia,” said Zhai. Zhai said the International Energy Agency, 1.7 billion people in Asia and the Pacific still use solid fuels, such as fuel wood, crop wastes, charcoal, coal, or even human and animal waste. He said the World Health Organization (WHO) warned against the impact of the use of these fuels on human health, particularly women and young children who spend more time at home. Citing WHO, Zhai said indoor smoke in rural homes can have 100 times more fine particles than acceptable levels. Zhai said this has to change not only because of the serious implications on health but also on the budget of households. With Cai U. Ordinario

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Editor: Jennifer A. Ng • Monday, March 2, 2020 A5

‘Bureaucracy delays planting of GM cotton’

By Jasper Emmanuel Y. Arcalas

@jearcalas

he delay in the approval of the propagation of genetically modified (GM) cotton is hampering the revival and revitalization of the local fiber industry, according to a government official.

Philippine Fiber Industry Development Authority (PhilFida) Executive Director Kennedy T. Costales attributed the delay to current regulatory regime for approving GM crops. “We are experiencing delays in the approval for the importation and propagation of Bt cotton because we have to get the nod of five departments, which we cannot control. It’s really the bureaucratic process delaying it,” Costales told the BusinessMirror in an interview. He said he has instructed the PhilFida staff to fast-track the processing of the necessary documents to accelerate the approval of the propagation of Bt cotton so that farmers could plant it by December. At present, an interagency committee created under the Joint Department Circular 1 Series of 2016 oversees the approval process of Bt crops in the country. The members of the committee are—the Departments of Agriculture (DA); Science and Technology (DOST); Health;

Environment and Natural Resources; and the Interior and Local Government. Biotechnology stakeholders have also complained about the “cumbersome” regulatory process, saying this has caused the “tremendous” delay in the approval of GM crops.

Production

PhilFida has expanded the area planted with cotton in 2019 to 710 hectares, from 667 hectares in 2018. PhilFida expects a maximum harvest of 710 metric tons, or 1 metric ton per hectare, from these areas this year. The attached agency of the DA said it had to subsidize the cotton farmers at P17,500 per hectare to support their production using local non-GM cotton varieties since Bt cotton is not yet allowed. The subsidy covered labor costs, seeds, fertilizer and pesticide. PhilFida spent P45 million for its cotton program last year. Documents from the agency showed that cotton was planted in six regions—Region

1 (50 hectares), Region 4A (30 hectares), Region 6 (50 hectares), Region 7 (100 hectares), Region 9 (100 hectares), and Region 12 (380 hectares). “We will not engage in cotton farming if the farmers will not agree. And to be frank, a lot of farmers want to plant cotton as long as it is Bt variety due to its insect-resistant properties,” Costales said. In 2009, the DA embarked on a cotton revival project using Bt cotton, which is resistant to bollworm, the pest that usually attacks the cotton. Costales noted that the use of Bt cotton would drastically cut the costs incurred by farmers for pesticides to control and prevent bollworm infestation. The PhilFida chief also said his agency is now crafting a five-year cotton industry road map with the goal of reviving and bringing local production back to a sustainable level by the fifth year. The Philippines currently imports all of the cotton required by local garments manufacturers. In 2018, the Philippines produced 27 MT of cotton and imported 17,605 MT, Philippine Statistics Authority (PSA) data showed.

Hastening approvals

Costales said he supports a measure filed at the House of the Representatives that seeks to streamline the process involved in approving GM crops. “Farmers will not plant non-GM cotton if they will not get subsidy. Bt cotton will really encourage farmers to revitalize the industry as it will

allow them to reduce pesticide use and earn more,” he said. In January, the House Committee on Science and Technology has endorsed for plenary approval House Bill 3372, or the Modern Biotechnology Act. AAMBIS-OWA Party-list Rep. Sharon Garin, principal author of the bill, said the proposal seeks to combat poverty through the modernization of biotechnology in the Philippines. The bill seeks to expedite the regulatory decision-making process in biotechnology to help ensure the health and well-being of Filipinos, promote competitiveness, reduce hunger and poverty, and mitigate the effects of climate change. According to Garin, the current regulatory regime, which is based on outdated knowledge and assumptions, must be revised to enable the Philippines to benefit from products of modern biotechnology without delay. “Support is also needed to accelerate research and development to further ensure the utility and safety of products of modern biotechnology,” she added. Right now, Garin said it takes 65 months, or more to complete all requirements for the commercial release of modern biotechnology products. “The cumbersome regulations can no longer be justified for they effectively discriminate against local public biotech research institutions which have limited resources to comply with the existing regulations. This proposed bill will address this concern,” said the lawmaker.

Average farm-gate price of rice rises to P16 per kilogram–PSA

he average farm-gate price of dry unhusked rice rose slightly to P16 per kilogram, a level that has not been seen since mid-September 2019, while the retail price of regularmilled rice (RMR) dipped to a new sixyear low. The latest data from the Philippine Statistics Authority (PSA) showed that the average price of dry palay rose for the 10th consecutive week and touched the P16-per-kg level. The figure is slightly higher than the P15.97 per kg recorded a week ago. Despite the increase, PSA data showed that the average quotation of dry palay is still the lowest in more than eight years due to the surge in imports last year. The latest figure is the lowest average farm-gate price recorded since the first week of January 2012, when it reached P16.05 per kg. “However, its annual rate dropped by 18.5 percent compared with its level of P19.63 per kg in the same week of the previous year,” the PSA said in its preliminary price monitoring report published recently. The decline in farm-gate prices, which started last year, was attributed by authorities and industry players to the surge in rice imports after Republic Act 11203, or the rice trade liberalization law, took effect on March 5, 2019. To prevent farm-gate prices from declining steeply during harvest, the

Department of Agriculture said recently that it will void all unused import clearances for some 1.8 million metric tons of rice issued last year. PSA data also indicated that the average retail price of RMR at P36.33 per kg is the lowest since the fourth week of December 2013, when it reached the same level. “The average retail price of regular milled rice retained its previous week’s level of P36.33 per kg this week. On the contrary it continued to move downward at an annual rate of 11.6 percent from its level of P41.11 per kg in the same week of the previous year,” the PSA said. The PSA said the average wholesale price of RMR inched up to P33.02 per kg from the P32.97 per kg recorded in the previous week. However, the latest quotation was 13.3 percent lower than last year’s P38.096 per kg. In the same report, PSA data showed that the average retail price of well-milled rice fell slightly to P41.22 per kg from the previous week’s P41.30 per kg. This is now the lowest level of WMR in more than three years since the P41.19 per kg recorded in the first week of May 2016. “Similarly, it posed a downtrend at an annual rate of 8 percent relative to its level of P44.80 per kg in the same week of the previous year,” the PSA added. Jasper Emmanuel Y. Arcalas

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Editor: Angel R. Calso • Monday, March 2, 2020 A7

Oil prices fall as virus spreads outside China

EW YORK—With the viral outbreak spreading to more countries, the price of oil has dropped precipitously as global demand weakens even further.

That has sent shares tumbling for oil giants like Exxon and Chevron while smaller producers with idling rigs continue to slash jobs. Hundreds of new cases of the virus that causes the COVID-19 disease have been announced in recent days outside of China. The list of countries touched by the illness has climbed to nearly 60 as Mexico, Belarus, Lithuania, New Zealand, Nigeria, Azerbaijan, Iceland and the Netherlands reported their first cases. More than 86,000 people worldwide have contracted the illness, with deaths topping 2,900. Oil industry analysts fear that what they thought was a contained disruption may instead lead to more travel restrictions, and even less oil consumed. “That was the fear all along, that the virus would not be contained in China,” said Claudio Galimberti, head of demand, refining and agriculture at S&P Global Platts. “There are entire cities, and in some cases regions, that are in a lockdown. When you begin to have a lockdown, people work from home, factories shut down, people don’t travel. The

impact on oil is very, very bad.” Oil prices fell dramatically in mid-February, but had been steadily climbing back as the number of new cases of the virus in China slowed. In the last week, however, reports of the spreading virus knocked prices down. The benchmark for US crude oil fell 16 percent during the week, settling on Friday at $44.76 a barrel. Brent crude, the international standard, dropped 14 percent for the week to its lowest levels since July 2017, closing on Friday at $50.52 a barrel. Meanwhile, shares of Ex xonMobil tumbled to $49.82 on Thursday, reaching a 15-year low, before rebounding more than 3 percent on Friday. Chevron Corp. shares hit their lowest level in nearly four years on Friday. The Financial Times reported that Saudi Arabia is pushing for deep cuts in oil production to help stabilize prices in the face of falling demand. The newspaper, citing people familiar with the talks, said the Saudis propose to bear most of the brunt of a cutback of 1 million barrels per day but want

IN this Thursday, August 31, 2017, file photo, a flame burns at the Shell Deer Park oil refinery in Deer Park, Texas. With the viral outbreak spreading to more countries, the price of oil has dropped precipitously as global demand weakens even further. That has sent shares tumbling for oil giants like Exxon and Chevron, while smaller producers with idling rigs continue to slash jobs. AP PHOTO/GREGORY BULL

Russia and other big producers to join them. Representatives of Opec and allies like Russia plan to meet next week. If demand for oil and the price of a barrel continues to fall, that may result in lower gasoline prices—a potential bright side for consumers, who account for about 70 percent of US economic activity. Gasoline prices have been fluctuating in recent weeks, but nothing significant that could be attributed to the coronavirus, said Jeanette Casselano, director of public relations at AAA. Prices tend to rise for the summer driving season, but the

effects of coronavirus on the price of oil could mitigate that. Lower prices at the pump, however, aren’t necessarily good for the US economy overall. When energy prices fall, energy companies tend to cut back on investment and jobs. A free fall in gasoline prices led to a sharp drop in US business investment in 2016, for instance—one reason the country’s economic growth slowed to 1.6 percent that year from 2.9 percent in 2015. When the coronavirus first hit, the Energy Information Administration predicted global oil demand would fall to 100.3 million barrels

per day in the first quarter of 2020, down about 900,000 barrels, or 1 percent, from what was estimated in January. The agency said it expects global oil demand to rise by 1 million barrels per day in 2020, which is lower than its growth prediction last month of 1.3 million barrels per day this year. Those numbers were released in mid-February, before the number of reported cases outside of China began to rise significantly, so analysts expect estimates to get worse. On Monday ING head of commodities strategy Warren Patterson said he expects travel restrictions and factory shutdowns caused by coronavirus to shave 400,000 barrels a day from global consumption growth, which would take the industry to its lowest level of consumption in a decade. The financial situation was deteriorating for the oil industry long before the coronavirus hit. Demand for oil was suppressed by ongoing trade tensions with China, concerns about climate change, growing adoption of renewable-energy sources and steadily improving energy efficiency. In the US, many oil and gas producers were already struggling under the financial pressure of low prices, caused in part by oversupply as companies figured out how to produce oil and gas more cheaply than ever before. In the past five years, 208 oil producers have filed for bankruptcy protection after racking

up approximately $121.7 billion in debt, according to law firm Haynes and Boone. The strain has especially hurt smaller producers that relied on debt and an expectation of higher prices to repay their loans. “The weakness in the commodity price has driven many companies to the point that they cannot refinance their debt or their lenders have lost patience with the longer-term downturn in the energy industry,” said Charles Beckham, a partner at Haynes and Boone. In Texas, the number of active rigs fell from 553 in October 2018 to 398 in January 2020. Around the same time, the oil industry in Texas shed about 14,000 jobs, said Karr Ingham, executive vice president at the Texas Alliance of Energy Producers, which has about 2,600 members. “They’re drilling fewer wells, they’re idling rigs and parking them somewhere until they need it again,” Ingham said. It’s hard to know how long the outbreak will continue, and just how deeply the industry will feel the impacts. Many of the countries reporting significant numbers of new coronavirus cases are also large energy consumers, said Kevin Book, managing director of Clearview Energy Partners. “A demand killer virus that nobody understands points toward an even tougher financing environment,” he said. AP

A4 Monday, March 2, 2020 A8

The World BusinessMirror

World’s biggest companies start sounding the alarm T

HE world’s biggest companies have started sounding the alarm. From Apple Inc. to Microsoft Corp., Danone and Diageo Plc. the UK maker of Johnnie Walker whiskey, the corporate world has seen a sharp increase in profit warnings about a financial hit from the coronavirus in the past two weeks. But that may be just the tip of the iceberg, with the biggest blow to sales and supply chains mainly confined to China so far. With the epidemic accelerating from South Korea to Iran, Italy and

the rest of Europe, more S&P 500 companies are raising concerns about the outbreak going global, according to research by Bloomberg Economics. These include almost 220 firms with a combined market capitalization of more than $10 trillion from January 22 to February 27. In the last week, as the S&P 500 slumped 11 percent in its worst week since the start of the 2008-2009 global financial crisis, Bloomberg Economics noted that the tone of comments has become more pessimistic, with more firms providing details on the potential drag.

“Now as we see the virus starting to spread to Europe and other parts of the world, what we really know is that it’s a very fluid, dynamic situation,” Levi Strauss & Co. Chief Executive Officer Chip Bergh said at a supply chain conference February 25 near Dallas. The San Francisco-based jeans maker, which relies on China for about 3 percent of its sales, had warned a few weeks earlier that the virus would put a damper on that country’s growth in the near term. Europe is already getting hit, with airlines, airports and hotel operators feeling the brunt of the

impact so far as corporations restrict business travel and major events like the Geneva International Motor Show get canceled. Within a few hours on Friday, British Airways parent IAG SA, Finnair and discount specialist EasyJet Plc. all warned about weaker demand. As the World Health Organization raised the global risk for the new coronavirus to “very high,” from “high,” companies from Nestlé SA to Amazon. com Inc. are taking drastic measures to curtail business travel. Fear over the economic fallout has sent global markets plummeting. Bloomberg News

Trump on 1st virus death in US: ‘No reason to panic’

ASHINGTON—Seeking to reassure the American public, President Donald J. Trump said there was “no reason to panic” as the new coronavirus claimed its first victim inside the US. The White House also announced new restrictions on international travel to prevent its spread. Trump, speaking on Saturday only moments after the death in Washington State was announced, took a more measured approach a day after he complained that the virus threat was being overblown and that his political enemies were perpetuating a “hoax.” “This is very serious stuff,” he said, but still insisted the criticism of his administration’s handling of the virus outbreak was a hoax. Trump appeared at a hastily called news conference in the White House briefing room with Vice President Mike Pence and top public health officials to announce that the US was banning travel to Iran, and urging Americans not to travel to regions of Italy and South Korea where the virus has been prevalent.

He said 22 people in the US had been stricken by the new coronavirus, of whom one had died while four were deemed “very ill.” Additional cases were “likely,” he added. Trump said he was considering additional restrictions, including closing the US border with Mexico in response to the virus’ spread, but later added: “This is not a border that seems to be much of a problem right now.” “ We’re t h i n k i ng about a l l borders,” he said. Travel to Iran is already quite limited, though some families are allowed to travel there on a visa. It is one of the seven initial countries on Trump’s travel ban list, which means travel from Iran also is already severely restricted. Robert Redfield, director of the Centers for Disease Control and Prevention, said there was “no evidence of link to travel” abroad in the case of the man who died. The patient was described as being in his late 50s and having a high health risk before contracting the virus. Redfield said the CDC mistakenly told Trump in

an earlier briefing that the victim was a woman. On Friday, health officials confirmed a third case of coronavirus in the US in a person who hadn’t traveled internationally or had close contact with anyone who was known to have the virus. The US has about 60 confirmed cases. Trump’s tally appeared to exclude cases of Americans repatriated from China or evacuated from the Diamond Princess cruise ship. The Washington case was the first death in US but not first American to die: A 60-year-old US citizen died in Wuhan in early February. Trump said healthy Americans should be able to recover if they contract the new virus, as he tried to reassure Americans and global markets spooked by the virus threat. He encouraged Americans not to alter their daily routines, say ing the countr y is “super prepared ” for a wider outbreak, adding, “ There’s no reason to panic at all.” He added he wasn’t altering his own routine either. “You’re talking

about 22 people right now in this whole very vast country. I think we’ll be in very good shape.” The president also said he would be meeting with pharmaceutical companies at the White House on Monday to discuss efforts to develop a vaccine to counter the virus. Trump spoke a day after he had denounced criticism of his response to the threat as a “hoax” cooked up by his political enemies. Speaking at a rally in South Carolina he accused Democrats of “politicizing” the coronavirus threat and boasted about preventive steps he’s ordered in an attempt to keep the virus that originated in China from spreading across the United States. Those steps include barring entry by most foreign nationals who had recently visited China. “They tried the impeachment hoax.... This is their new hoax,” Trump said of Democratic denunciations of his administration’s coronavirus response. Trump said on Saturday he was not trying to minimize the threat of the virus. AP

Thousands of migrants mass at Greek border

ASTANIES, Greece—The United Nations said on Sunday that at least 13,000 people were massed on Turkey’s land border with Greece, after Turkey officially declared its western borders were open to migrants and refugees hoping to head into the European Union. Turkish President Recep Tayyip Erdogan’s decision to open his country’s borders with Europe made good on a longstanding threat to let refugees into the continent. His announcement marked a dramatic departure from the current policy and an apparent attempt to pressure Europe into offering Turkey more support in dealing with the fallout from the Syrian war to its south. Turkey’s decision to open the borders with Greece came amid a military escalation in Syria’s northwest that has led to growing direct clashes between Turkish and Syrian forces. The heavy fighting there has also triggered a humanitarian catastrophe and the single largest wave of displacement in Syria’s nine-year civil war. Ankara is worried it might come under renewed international pressure to open its now sealed border with Syria and offer refuge to hundreds of thousands more Syrian civilians. Turkey already hosts 3.6 million Syrian refugees. The UN’s International Organization for Migration said on Sunday that by the previous evening, its staff working along the Turkish-Greek land border “had observed at least 13,000 people gathered at the formal border crossing points at Pazarkule and Ipsala, and multiple informal border crossings, in groups of between several dozen and more than 3,000.” Greek authorities fired tear gas and stun grenades through Saturday to prevent repeated attempts by a crowd of

MIGRANTS arrive at the village of Skala Sikaminias, on the Greek island of Lesbos, after crossing on a dinghy the Aegean Sea from Turkey on Sunday, March 1, 2020. Turkey’s President Recep Tayyip Erdogan said his country’s borders with Europe were open on Saturday, making good on a longstanding threat to let refugees into the continent as thousands of migrants gathered at the frontier with Greece. AP PHOTO/MICHAEL VARAKLAS

more than 4,000 people massed at the border crossing in Kastanies to cross, and fought a cat-and-mouse game with groups cutting holes in a border fence along the border to crawl through. Turkish Interior Minister Suleman Soylu tweeted that 76,385 refugees had left Turkey via Edirne, the province bordering Greece and Bulgaria as of Sunday morning. But there was no evidence to support his claim. Greece has shut its border, and there were a few dozen arrests of people who managed to cross through the border, Greek authorities have said. Greek Deputy Defense Minister Alkiviadis Stefanis told the local broadcaster Skai there were around 9,600 attempts to illegally cross Greece’s border during the night Saturday to Sunday. Stefanis said all were successfully thwarted. Previously several dozen migrants had

managed to make it through. Greek officials said they arrested 66 migrants on Friday, 17 of whom were sentenced to 3.5 years in jail for entering the country illegally. All Afghans, they were the first migrants sentenced for illegal entry since 2014. On Saturday, Greece arrested another 70 people who tried to cross the land border illegally. Stavros Zamalides, president of the local community in Kastanies, said Turkish soldiers were actively helping people cross the Greek border clandestinely. “Turkish soldiers with cutters in their hands were cutting the wires of the fence to lead the illegal migrants” into crossing the border, he said. “The attempt was thwarted by the intervention of our own patrol that happened to be passing that area on patrol at the time, and it repaired the

damage in the fence,” he added. Twenty-year-old Afghan Ayamuddin Azimi made it to the Greek border village of Nea Vyssa along with a compatriot. He said Turkey had opened its borders “to save the refugees” but when they got to the frontier they found the Greek side closed. He crossed clandestinely, he said. “What can I do? We have nothing to do. This is our life.” Others were making the short but often perilous sea crossing from the Turkish coast to the Greek islands. At least three dinghies carrying migrants arrived on the Greek island of Lesbos on Sunday morning. In parallel, the heavy fighting in northwest Syria has pushed nearly 950,000 displaced Syrian civilians to flee toward the border with Turkey. Turkey is a strong backer of the rebels in Syria’s Idlib province. But the presence of thousands of Turkish troops there has done little to stop Syrian President Bashar Assad’s relentless campaign to seize the last rebel-held territories. Dozens of Turkish soldiers have been killed by the Russian-backed Syrian government forces around Idlib in recent days. Erdogan has warned of an “imminent” operation against Assad’s forces unless they pull back from Turkish lines in Syria by the end of February. As that deadline passed Saturday night, Turkish drones bombed Syrian government targets in Idlib, and Turkey-backed rebels shelled Syrian army positions. Fighting raged near the strategic town of Saraqeb as government troops sought to take it back from rebels, opposition activists and Syrian state-media said. The town, which lies on the Damascus-Aleppo highway, had changed hands several times in the last month. AP

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US, Taliban sign deal aimed at ending war in Afghanistan

US peace envoy Zalmay Khalilzad (left), and Mullah Abdul Ghani Baradar, the Taliban group’s top political leader, shack hands after signing a peace agreement between Taliban and US officials in Doha, Qatar, on Saturday, February 29, 2020. The United States is poised to sign a peace agreement with Taliban militants on Saturday aimed at bringing an end to 18 years of bloodshed in Afghanistan and allowing US troops to return home from America’s longest war. AP PHOTO/HUSSEIN SAYED

OHA, Qatar—Acknowledging a military stalemate after nearly two decades of conflict, the United States on Saturday signed a peace agreement with the Taliban that is aimed at ending America’s longest war and bringing US troops home from Afghanistan more than 18 years after they invaded in the wake of the September 11, 2001, terrorist attacks. The historic deal, signed by chief negotiators from the two sides and witnessed by Secretary of State Mike Pompeo, could see the withdrawal of all American and allied forces in the next 14 months and allow President Donald J. Trump to keep a key campaign pledge to extract the US from “endless wars.” But it could also easily unravel, particularly if the Taliban fails to meet their commitments. At the White House, Trump told reporters the US deserves credit for having helped Afghanistan take a step toward peace. He spoke cautiously of the deal’s prospects for success and cautioned the Taliban against violating their commitments. “We think we’ll be successful in the end,” he said, referring to all-Afghan peace talks and a final US exit. He said he will be “meeting personally with Taliban leaders in the nottoo-distant future,” and described the group as “tired of war.” He did not say where or why he plans to meet with Taliban leaders. He said he thinks they are serious about the deal they signed but warned that if it fails, the US could restart combat. “If bad things happen, we’ll go back” in with military firepower, Trump said. Pompeo was similarly cautious. “Today, we are realistic. We are seizing the best opportunity for peace in a generation,” Pompeo said in the Qatari capital of Doha. “Today, we are restrained. We recognize that America shouldn’t fight in perpetuity in the graveyard of empires if we can help Afghans forge peace.” Under the agreement, the US would draw its forces down to 8,600 from 13,000 in the next three to four months, with the remaining US forces withdrawing in 14 months. The complete pullout would depend on the Taliban meeting their commitments to prevent terrorism, includ-

ing specific obligations to renounce al-Qaeda and prevent that group or others from using Afghan soil to plot attacks on the US or its allies. The deal sets the stage for intraAfghan peace talks to begin around March 10, with the aim of negotiating a permanent cease-fire and a power-sharing agreement between rival Afghan groups. It’s, perhaps, the most complicated and difficult phase of the plan. It does not, however, tie America’s withdrawal to any specific outcome from the all-Afghan talks, according to US officials. Pompeo said that “the chapter of American history on the Taliban is written in blood” and stressed that while the road ahead would be difficult, the deal represented “the best opportunity for peace in a generation.” At a parallel ceremony in Kabul, US Defense Secretary Mark Esper and Afghan President Ashraf Ghani signed a joint statement committing the Afghan government to support the US-Taliban deal, which is viewed skeptically by many war-weary Afghans, particularly women who fear a comeback of repression under the ultraconservative Taliban. President George W. Bush had ordered the US-led invasion of Afghanistan in response to 9/11. Some US troops currently serving there had not yet been born when al-Qaeda hijackers flew two airliners into the twin towers of the World Trade Center, crashed another into the Pentagon and took down a fourth in Pennsylvania, killing almost 3,000 people. It only took a few months to topple the Taliban and send Osama bin Laden and top al-Qaeda militants scrambling across the border into Pakistan, but the war dragged on for years as the US tried to establish a stable, functioning state in one of the least developed countries in the world. The Taliban regrouped, and currently hold sway over half the country. The United States has spent nearly $1 trillion in Afghanistan, two-thirds of that on defense, most of it for its own soldiers but also for the Afghan Security Forces. More than 3,500 US and coalition soldiers have died in Afghanistan, more than 2,400 of them Americans. AP

MAHATHIR PLOTS COMEBACK

A H ATHIR MOH A M A D may be at least temporarily out of power, but the 94-year-old leader isn’t going down without a fight. Mahathir’s abrupt resignation last Monday kicked off a week of horsetrading that saw his fortunes rise and fall by the hour. On Saturday morning, he said he had the numbers to form a government, but by late afternoon the king appointed Muhyiddin Yassin— until recently Mahathir’s right-hand man—as prime minister. Late Saturday night, Mahathir said he has secured the backing of 114 lawmakers—enough for a majority in Malaysia’s 222-member parliament—and reiterated the figure at a Sunday morn-

ing press conference. But some that he named denied they are backing him. No matter how things shake out, it’s a safe bet Mahathir isn’t going anywhere. While he’s ruled Malaysia for nearly a quarter century over two stints, he was perhaps just as active politically when he was retired as he was inside the prime minister’s office —including helping take down former Prime Minister Najib Razak in 2018. Already, he is planning an urgent parliament sitting to show that he has the majority support among lawmakers. At the Sunday press conference, he repeatedly blamed Muhyiddin for plotting and orchestrating the events of the past week, and said he felt “betrayed” mostly by him. Bloomberg News

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BusinessMirror

Monday, March 2, 2020 A9

A10 Monday, March 2, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

PHL: Not too old or too young

hat makes a country unique from all the rest? The first thought might be geography and location. These factors greatly determine the quality of life and its economy.

The amount of total arable land in Vietnam and the Philippines is almost the same. However, Vietnam has 890 cubic kilometers of water available each year. The Philippines generates 480 cubic kilometers of water annually. Which country is a rice exporter? Thailand is a large rice exporter and has about the same total water resources as the Philippines. But Thailand also has 50 percent more arable land than the Philippines. Its history, religion, and other social factors greatly influence a nation’s distinctiveness on the world stage. However, while religion and other social qualities may be an “artificial construct” and geography is “fixed,” one other factor has a tremendous impact on what a nation is, and on its economy. Economic types tend to create models and apply that model to all nations, with limited regard to local conditions. The 49 completely landlocked nations are not going to be on the list of the biggest exporting economies. Therefore, the models must be changed to account geography, and economists hate doing that. Maybe a most important factor that differentiates nations is the age demographics. We have heard that the Philippines—among several others—exists within the “sweet spot” of this demographic. The Philippines is not too old and not too young. Median age is the age that divides a population into two numerically equal groups—half the people are younger than this age and half are older. Of the 28 poorest countries in the world where people live on less than $1,000 per year, 23 have a median age of 20 years or less with 15 with a median age of less than 18 years. The Philippines’s median age is 23.5 years, which is just within the age demographic sweet spot. Vietnam has a median age of 30.5 and Thailand is “old” at 37.7 years, even older than Singapore (34.6). The significance of this age demographic is found in a nation’s debt. Japan has a huge debt to GDP ratio and yet the country does not care. Japan’s median age is the highest in the world (other than Monaco) at 47. The crude reality is that the “old people” are not going to be around to worry about ever paying off that debt. The global age demographics say that the economic models that make this the primary driver are critical. The growth of the working-age population is the organic baseline for growth in consumption, which is the heart of every economy. The developing world has 47 percent of the working-age population but with a negative 4-percent annual growth of that group. By 2030, that will be a negative 31-percent growth rate. Asia has only 39 percent of the working-age group but it is growing at 61 percent per year. The economic effect of age demographics can be seen in energy consumption as the developed world consumed 85 percent of all energy use in 1980, which is now down to 74 percent. “Younger” Asia moved from 13 percent of global energy use to 22 percent. Two thousand and eight marked not only the financial debt crisis but also the end of the growth of the developed world’s working-age growth. Walkers and canes are big business in Japan. Running shoes and fitness clubs are big business in the Philippines. Since 2005

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RISING SUN

esterday, March 1, marked the beginning of the monthlong celebration of National Women’s Month. For 2020, the theme is, “We Make Change Work for Women”. This is the annual theme for a few years, from 2017 to 2022. In the Philippines, the national agency on women and women’s issues is the Philippine Commission on Women, which celebrates its 45th founding anniversary this year. My warm congratulations and good wishes to those who are part of PCW. Through its initiatives and the efforts of various women’s organizations, our country actively takes part in the global campaign to advance gender equality and women empowerment.

Those organizations—government agencies, LGUs, colleges and universities, and stakeholders from the public and private sectors— launching events and activities for women this month are being encouraged to get the youth, the girls involved in their projects. Organizations are urged to either take part in the public events and/or launch their own activities that are in line with

the theme and objectives of the National Women’s Month Celebration 2020 (NWMC). Here are some ideas that organizations can consider launching this month: Production and distribution of IEC materials that contain information about the NWMC, Cedaw (international bill of rights of women), BPfA (global road map for the

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#SerbisyoParaKayJuana is a program wherein agencies and organizations that offer direct services, transactions and products to the public give privileges to women, like freebies and discounts, on March 8, International Women’s Day, or on any other day within the month of March. empowerment of women and girls), the Magna Carta of Women, and other laws and agreements related to women’s rights. These are available for download from the PCW web site. #SerbisyoParaKayJuana is a program wherein agencies and organizations that offer direct services, transactions and products to the public give privileges to women, like freebies and discounts, on March 8, International Women’s Day, or on any other day within the month of March. Organizations may also opt to hold forums, workshops, and lectures related to the topics of gender equality, women’s rights, women’s empowerment, relevant women’s

The ‘Happiness curriculum’

T. Anthony C. Cabangon

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Happy Women’s Month!

legally speaking

N a March 2019 World Happiness Report, Filipinos ranked significantly higher compared to our Southeast Asian counterparts. The Philippines ranked 69th, Malaysia 80th, Indonesia 92nd, Vietnam 94th, Lao PDR 105th, Cambodia 109th and Myanmar 131st. The significant increase of Filipinos’ happiness and life satisfaction scores in March 2019 compared to December 2018 (with an unhappiness score of 13 percent, the highest since the 15 percent in December 2014) could be attributed to three factors—resilience, hopefulness and being supportive and, likewise, a supposed lack of sense of privilege compared to other countries (“Happiness surveys and rankings xxx”, Jeline Malasig, July 3, 2019).

Our Happiness Index does not seem to be consistent with the rise in suicide rates in the country. In the Philippines, around 3.8 deaths relating to suicide were recorded per 100,000 inhabitants in 2015, 1.9 for females, 5.8 for males (Global Burden of Disease Study, cnnphilippines.com). Data from the same study in 2016 sheds light upon our mental health problems. We have close to 9 million prevalent cases of mental, neurological and sub-

stance use disorders, 3.3 million of which are anxiety disorders and 2.6 million of which are depression. The main causes of depression are abuse (past physical, sexual or emotional abuse can increase the vulnerability to clinical depression later in life); certain medications; conflict; death; or a loss genetics; major events; personal problems; serious illness (www.webmd.com. guide, March 18, 2019). Globally, more than 264 million

people of all ages suffer from depression. Depression is a common illness worldwide. It is different from usual mood fluctuations and short-lived emotional responses to challenges in everyday life. Close to 800,000 people die due to suicide every year. Suicide is the secondleading cause of death in 15-29 year-olds. A World Health Assembly resolution passed in May 2013 has called for a comprehensive, coordinated response to mental disorders at the country level (www.who.int,3) January 20, 2020. Responding to this challenge is the Delhi government, which launched a “Happiness Curriculum” in 2018. The Happiness Curriculum aims at promoting development of cognition, language, literacy, numeracy and the arts. This, in turn, aids the mental growth, well-being and happiness of students. It further states that future citizens need to be “mindful, awake, awakened, emphatic, and firmly rooted in their identity” based on the premise that education has a larger purpose, which cannot be in insolation from the “dire needs” of today’s society (m.jagranjosh.com). An expert has skills are never taught in educational institutions. “As our world becomes more VUCA (Volatile,

laws, etc. Related to this, there can be participatory activities like essay writing contests, art competitions, and the like. Films that tackle women’s issues may also be shown to the public for free. Everyone is encouraged to use the hashtag #WomenMakeChange to spread the advocacy on the Internet. Participating organizations are invited to send photos and captions of their activities to PCW’s official Facebook account. For its part, PCW is initiating the following efforts in line with the celebration: “Babae, Pambihira Ka:” 2020 Women’s Month Generation Equality Caravan, #JuanaSays Online Advocacy, BPfA songwriting contest, and the production of campaign collaterals (all downloadable from the PCW web site) like the BPfA brochure, NWMC briefer and streamer, design of shirt, button pins, and fans, etc. For more information about these projects, please visit the PCW web site. I am one with all women in their efforts to promote gender equality and women empowerment, and to protect the rights of women the world over. Happy Women’s Month to all my women readers!

Uncertain, Complex and Ambiguous) our future generations need to be more emphatic, and analytical than ever before. But they cannot face the world if they do not have a strong foundation made up of emotional strength and happiness. The Happiness Curriculum is already paving ways for the world to emulate and make our future generations stronger for a better future” (Saurabh Nanda, career consultant, founder-The Happiness Project). Delhi’s Happiness Curriculum has daily classes of 45 minutes, six days a week. Students between Nursery and 8th class are required to attend. It’s aim is to: 1) Develop Self Awareness and Mindfulness among the students; 2) Inculcate Critical Thinking and Inquiry Skills; 3) Imbibe Effective Communication Skills; 4) Enable students to apply these skills for problem-solving in conflicting situations; 5) Reduce anxiety, depression and intolerance among school students. With the alarming spike in suicide cases in this country, our educators should revisit our K-12 Curriculum and seriously consider a Happiness Curriculum during the formative years of our children. This might not solve the suicide problem, but it is a good first step.

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Opinion

‘Usapang kalye’

‘So help them God’

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Thomas M. Orbos

Siegfred Bueno Mison, Esq.

STREET TALK

THE PATRIOT

uring my weekly program, “Usapang Kalye” with Ms. Tina Marasigan on DZMM, there were several items that were brought out by our studio guests, Mike Salalima and Neomie Recio of the Metropolitan Manila Development Authority (MMDA), which will surely affect traffic in Metro Manila in the coming weeks, if not months.

very oath of office taken by any public servant in the Philippines ends with the phrase “so help me God”. In Filipino, it is “Kasihan nawa ako ng Diyos.” While saying such a phrase appears to be mandatory, in reality, it can be voluntarily omitted. When omitted, the things mentioned becomes an affirmation instead of an oath; the latter being more of a pledge to God, in acknowledgement of a higher being.

Metro Manila Buildx3. An update of the “Build, Build, Build” program in Metro Manila indicates several projects with completion going beyond 2020 while new ones will break ground. Construction of the Skyway connector, Harbor link, Metro Rail Transit 7 and the Subway will be a bit delayed while the Common Station column construction will commence within the next coming weeks. Traffic in those areas will surely be affected. However, the government is ready with a traffic management and rerouting plan to be implemented soon. Guadalupe Bridge. A more worrisome scenario would be the partial closure of the Guadalupe Bridge, which we were told would happen within the year. As mentioned by Recio, the long overdue rehabilitation of the bridge cannot be postponed any longer given its age and the tremendous daily load of vehicles it carries almost 24/7. The plan would be to close two lanes on each side, leaving three lanes northbound and three lanes southbound. Hopefully one of the two bridges being built—Rockwell and Santa Monica, will be completed by then. Pasig River Ferry. Fortunately, the Pasig River Ferry is being expanded to include more boats with bigger capacity, more frequencies, newer stations and newer routes, according to Salalima, the new routes will bring the ferry system all the way to Marikina. And this will happen in 2020. There are also plans to bring it to Rizal and Laguna de Bay in coordination with the LLDA. This should help decongest land travel substantially. And, ferry fares remain to be free for now! Motorcycles on national roads. It also looks like that the MMDA will be enforcing the age-old regulation of prohibiting motorcycles with less than 400-CC engine displacement on national roads, to include probably Edsa. This will definitely earn protests from our motorcycle riders but MMDA cites two major reasons: One, definitely for safety reason as accidents involving motorcycles remain to be the main cause of deaths and serious injuries. Second, according to the MMDA, this is embodied in an age-old law that has been ignored in the past for political reasons. Land Transportation Office.

In a phone interview with Assistant Secretary Edgar Galvante of the LTO, two significant items were discussed—both good news. One is the requirement to go through 15 hours of lecture before being granted a student license. Second is the translation of the LTO exams and signage into major local languages, like Bisaya and Ilocano. Both are welcome developments given that most drivers nowadays do not even know basic road courtesy, not to mention cognizant of basic road and traffic signs. And translating into local languages would definitely further enhance this. Baguio City. In another phone interview, this time with Baguio City Mayor Benjamin Magalong, the good mayor is definitely preoccupied to find ways and means to resolve the worsening traffic situation in his city. From his original plan of putting up three major transport terminal and parking buildings, several more are now being added to properly address the overflowing number of vehicles, which currently stands at double the capacity just for the local population. Also, the resumption of commercial flights at the Loakan Airport will happen anytime soon, hopefully within the next few months. Tricycles. Finally, last week’s column on tricycles drew several comments from friends and readers. Definitely it struck a nerve in most of us. We see trikes everyday yet ignore them; get mad at them yet use them extensively. The problem surrounding tricycles need to be confronted and resolved. And given that the trikes are our basic motorized beasts of burden; then all the more the need to modernize them. And yes, the local government units can’t do it alone for both lack of capacity, as well as the political implications that go along with its regulation. Once and for all, a national-local cooperation needs to happen to ensure a more convenient, more efficient and safer tricycle riding experience for Filipino commuters. Thomas Tim Orbos was former DOTr undersecretary for roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

In an article titled “Religion-PlusSpeech,” author Jonathan Belcher wrote that the phrase “so help me God” is actually an abbreviated form of the oath, “So may God help me at the judgment day if I speak true, but if I speak false, then may He withdraw His help from me.” In the United States, Daniel Webster articulated before the Supreme Court that every person who enters the court as a witness, regardless of religious beliefs, must have a firm conviction in his mind that falsehood will be punished either in this world or the next. Hence, witnesses are disenfranchised if they do not have such belief. The practice in some agencies is to require oath takers to even place their hand on the Bible. In the Bible, Numbers 30:2 tells us, “When a man makes a vow to the Lord or takes an oath to obligate himself by a pledge, he must not break his word but must do

everything he said.” The solemnity and sanctity of an oath taking ceremony impresses upon the oath taker the need to seek God’s help in his commitment to perform whatever functions and duties he swore to do upon his assumption to office. Government officials are required, under the Local Government Code, to take an oath or affirmation “to uphold and defend the Constitution; that he will bear true faith and allegiance to it; obey the laws, legal orders and decrees promulgated by the duly constituted authorities”.... By voluntarily assuming the obligations imposed by their oath of office, without mental reservation, they know fully well the ramifications of failing to perform such obligations. They may have invited family and friends to stand as witnesses in the joyous celebration of a promotion or appointment. But by saying, “so help me God,” they are acknowledging a

BLOOMBERG

andemics come and pandemics go. In the grip of a new infection spreading around a planet with no natural immunity, it can feel like the sky is falling. Over the coming months, it’s likely that a significant share of the world’s population will experience some of the dread of the Covid19 coronavirus that people in China have suffered over the past few months. Many will die. Still, the likely end-point of this outbreak will see it settle down as an endemic disease—one of the suite of respiratory viruses like influenza and the common cold that travel around the world year after year, with most of us regarding them as little more than a nuisance. The great unknown is what will happen along the way. Doing the sums can produce alarming figures. The best estimates so far suggest

that Covid-19 kills about 1 percent of people it infects. That number may go up somewhat or fall significantly; either way it could add up to a dreadful toll. If 60 percent of the world’s population is ultimately infected, as suggested by Gabriel Leung, chair of public health medicine at Hong Kong University, a 1-percent fatality rate would kill almost 50 million people—similar to the 1918

higher being to hold them accountable to perform what they promised. Starting a job in government takes more than just a commitment to serve the people; it takes a vow before God to perform the many things required by the office. Sadly, some officials have taken their oath for granted. Others even willfully violate their oath for selfish ends, completely forgetting their voluntary invitation of divine judgment upon themselves. Others might get away from the Ombudsman or the Sandiganbayan; but they will surely have a day of reckoning, sooner or later. Relatedly, one of the Public Service programs of the Civil Service Commission is aptly called PIES, which stands for Patriotism, Integrity, Excellence, Spirituality. Under the core value of Love of God, the CSC aims to inculcate in every public servant the aspirational values of believing in God as the supreme creator. The workshop appears to operationalize the phrase, “so help me God” as it aims to remind each public servant to seek guidance and aid from God, to give thanks for all blessings, to seek forgiveness and forgive others, to care for and value others, and most importantly, to obey God’s commandments. Hopefully, the CSC will be able to cascade such values to all public servants at the soonest possible time. I have taken such an oath twice, first when I joined the army, and the other when I joined the Bureau of Immigration. In both occa-

sions, I never fully understood the depth and meaning of “so help me God.” I just kept on relying on my talents, my skills, my education, in my pursuit to be a good public servant. I believe that CSC and other government agencies have to come up with a more conscious and coordinated effort in making public servants, especially those in the higher echelons, to be more mindful of their commitment, to be true to their oath of office sworn to before a higher being. In their daily activities, prayers and Bible studies can help. But, it would be ideal if all public officers are somehow trained to always implore the aid of Almighty God in their decision-making process. Their decisions, such as the termination of the VFA, the renewal of the ABS-CBN franchise and the government response to the COVID-19, will always have far-reaching consequences to our people and to our country. Since those in government asked for His help at the onset of their service, they might, as well, do it regularly, deliberately and with an eternal perspective. For those of us not in government, we can always do our share as good citizens to pray for our leaders. Part of our prayers for our leaders in the country may include what Proverbs 16:3 tells us, “Commit your actions to the Lord, and your plans will succeed.” So help them God. For questions and comments, please e-mail me at sbmison@gmail.com.

A $30 oil price is the real virus threat to Opec By Julian Lee

Bloomberg Opinion

t’s finally upon us. The week when ministers from the oilproducing countries of Organization of the Petroleum Exporting Countries and their allies meet to decide on the future of their latest round of output cuts. Having failed to persuade Russia to bring the meeting forward, Saudi Arabia will now hope to convince its biggest non-Opec ally of the need to make deeper cuts in the face of a demand slump triggered by the Covid-19 virus. Success is not a foregone conclusion and failure will be costly. The looming pandemic has already made its mark on oil markets. US West Texas Intermediate crude is now firmly below $50 a barrel and global benchmark Brent briefly followed it on Friday. That is uncomfortable territory for producers everywhere and, without a clear indication of deeper output cuts from this week’s meetings, prices will fall further. As the virus spreads, locking down Italy’s industrial heartland and

prompting Switzerland to ban large gatherings, producers appear to be clinging to overly optimistic demand assessments. Opec Secretary General Mohammad Barkindo, speaking at a conference in Saudi Arabia last week, said that in spite of the new coronavirus, the world’s “thirst for energy will continue to grow.” While that may be true for energy as a whole, it may not be for oil demand this year if there isn’t a quick rebound. Assessments from the three main forecasting agencies still show 2020 oil demand growth running close to a million barrels a day, but that now looks very optimistic. By contrast, veteran energy consultants FGE cut their forecast for growth this year to “almost zero.” They base their pessimism on the ripple effects of the virus beyond China, where traffic volumes in affected cities have already slumped, according to data from the TomTom Traffic Index. Measured in terms of how much longer journeys take than they would on empty roads, live data show that traffic volumes in Beijing are still well below normal

What the coronavirus end game will look like David Fickling

Monday, March 2, 2020 A11

Spanish flu. If that falls to 0.1 percent, it could still be roughly 10 times more fatal than the 2009 H1N1 influenza outbreak, which killed several hundred thousand in its first year. A better comparison might be the influenza pandemics that emerged from China in the 1950s and 1960s, according to Benjamin Cowie, a professor of epidemiology at the University of Melbourne — but the differences are still significant. While our health systems are far better than they were 50 years ago, the channels of infection are more open, too. “We’re in a very different world now, our world is much more interconnected,” he said. “What happens in one place is much more likely to be on the other side of the world in 24 hours.” Attempts to contain this infection in existing hot spots in Asia, the Middle East and Europe appear to be failing. If that’s the case, expect to see low-level movement restrictions spread, elsewhere. Such measures don’t serve so much to eliminate as to slow down a highly contagious infection like Covid-19. Still, that

will spread out the burden of sickness over a longer period, putting less pressure on the health system. The biggest impact is likely to be on the young and old. Children are less able to carry out the basic hygiene and touch-avoidance measures that help slow infections, so school closures like those imposed in Hong Kong and now in Japan could crop up, elsewhere. Aged care homes may see even more serious restrictions. Covid-19 seems to particularly target the elderly and those with other existing conditions. One recent study of more than 72,000 cases in China found a fatality rate of 2.3 percent across all age groups, rising to 8 percent for people in their 70s, and 15 percent for people above 80. Minimizing the risks to older people will probably put significant pressure on aged care facilities, especially if staff are infected themselves, or called away to look after children sent home from shuttered schools. Fortunately, the most severe period of initial infection could soon be fading. Respiratory diseases flourish in the cold season and taper off as

levels, even as the city is reportedly returning to work. In Wuhan, center of the epidemic in China, there is no such uptick; economic activity remains severely curtailed. But this is no longer just a Chinese problem. The economic impact of the spread of the virus to other parts of the world is clear. Four-week average jet fuel demand in the United States has dropped by 18 percent in the past 10 weeks. Airlines are cutting flight schedules and passenger numbers have collapsed. An acquaintance of mine flew back from Australia last weekend on a plane he reckons was only about one-third full. As people have second thoughts about getting on flights if there’s no guarantee those around them aren’t infected, flight schedules will almost certainly be cut further, with obvious implications for fuel demand. Consultants JBC Energy have cut global demand growth for the fuel to just 50,000 barrels a day this year, little more than a third of what they saw a month ago. And those TomTom figures show the impact of the virus on traffic in

Milan after its discovery in northern Italy. Morning rush-hour journey times have been cut by a quarter, as fewer cars clog the roads. A similar pattern is emerging in Opec nation Kuwait, where the virus has spread from neighboring Iran. Any hopes that demand will rebound this year in a robust enough way to offset the first-half slump are built on shaky foundations. The flights that have been canceled are gone, not postponed. The road trips not made this week won’t be made up in future weeks. Traffic may return to normal levels once the virus is brought under control, but there won’t be a surge beyond that from pent-up demand. This is the situation that will face the oil ministers of the 23 nations in Opec+ later this week. They need a credible plan that will take actual barrels off the market, even if Russia balks at making further cuts. Its compliance has been poor, but Saudi Arabia seems willing to accept that in return for the perception of added clout that it thinks Russia’s presence at the table brings.

the weather warms up. That should cause infection rates to slow in the northern hemisphere, while continuing at a lower level in tropical regions and spiking in temperate parts of the southern hemisphere where winter will be setting in. When a new year rolls around, the bulk of the disease will shift back to the northern hemisphere, to begin the cycle again. Subsequent Covid-19 seasons probably won’t be as serious. Those who survive viruses should be immune from reinfection (though there have been reports of people being diagnosed with Covid-19 for a second time), and as the share of survivors in the population rises, it gets harder for a disease to spread. “Most influenza pandemics last two to three years,” said Peter White, a professor of virology at the University of New South Wales. “That’s how long it takes before herd immunity is built up.” In a best-case scenario, it’s even possible that vaccines may be available in not much more than a year. On top of that, doctors and nurses will get better at treating the condition

and preventing severe illness, both through improved clinical knowledge; use of antiviral medicines like Kaletra, if they’re found to be effective; and because they’ll be much better-equipped to handle the crisis when infection rates are lower and fewer people are crowding into hospitals and clinics. There’s no cause for complacency. Epidemics often move in waves, so that an apparent early peak in infections can be followed by further surges. That’s reason to maintain vigilance around measures like hand washing and touch-avoidance, even if the pandemic seems to be on the ebb. All of this will affect society in ways hard to predict. A global economy that’s off sick will struggle to grow in the manner previously expected. A disease that so aggressively targets older people may even shift the demographic structure of populations. The large number of men who died in the 1918 Spanish flu and the First World War has often been cited as one reason why the social and economic position of women improved so much in the 1920s.

A12 Monday, March 2, 2020

Customs tags cash couriers in ‘money-laundering’ probe

By Bernadette D. Nicolas @BNicolasBM & Butch Fernandez @butchfBM

EVERAL groups of passenger-couriers bringing in huge foreign currencies into the country have already been identified by the Bureau of Customs (BOC) as the bureau ramps up its efforts on a suspected “money-laundering” scheme.

T his, af ter Sen. R ichard Gordon revealed that dozens of C h i nese c it i z en s broug ht mo re t h a n $16 0 m i l l io n i n cash into the country from December 2019 to February this yea r, wh ic h t he sen ator de scribed as having the hallmarks

of money laundering. Gordon is expected to include the money-laundering angle on the list of unsavory activities associated with the surge of Chinese workers in the country, mostly for Philippine Offshore Gaming Operators (POGOs).

Gordon, who chairs the Senate Blue Ribbon Committee, suggested that probers look into “how the Executive branch is implementing the law, particularly on the compliance of casinos, Pagcor, banks, among other covered institutions in reporting suspicious transactions.” He indicated the Blue Ribbon’s focus on the money-laundering angle will expand the ongoing POGO -related inquir y by the Labor committee chaired by Sen. Joel Villanueva, which is looking also at the prostitution and immigration corruption angles expposed by Sen. Risa Hontiveros. Senate Minority Leader Franklin M. Drilon said at the weekend he backed the looming inquiry to be opened by Gordon on the money laundering.

$160M

Cash brought into the country by dozens of Chinese citizens from December 2019 to February this year, which Sen. Richard Gordon described as having the hallmarks of “money laundering” In a statement on Sunday, BOC said they are already working with the Anti-Money Laundering Council (AMLC), Bangko Sentral ng Pilipinas (BSP), and other intelligence and law-enforcement agencies, including Congress, to address the influx of “suspicious large amounts of foreign currency into the country.” See “Money laundering,” A2

DPWH studies bid to link Nlex to Cavitex By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Public Works and Highways (DPWH) is now evaluating

the roughly P100-billion unsolicited proposal of Nlex Corp. aimed at connecting the North Luzon Expressway and Manila-Cavite Expressway (Cavitex). Without disclosing target time-

NORTHEASTERLIES AFFECTING EXTREME NORTHERN LUZON as of 4:00 am - March 1, 2020

lines, Public Works Secretary Mark A. Villar said: “It’s still being evaluated and we are asking them for additional documents.” Nlex Corp. first submitted the unsolicited offer, called Port Link

Expressway, to the public works department in 2018. The expressway essentially extends the Nlex from its end point in R-10 to Cavitex. “The project cost is not final but based on our estimate, it’s about P95 billion to P100 billion. It’s a huge project,” Nlex Corp. President Luigi L. Bautista said. The P100-billion unsolicited proposal aims to provide an ideal route for truckers, as well as provide motorists an alternative road between the northern and southern areas Luzon. Unsolicited offers require key government approvals and exercises, such as the securing of the original proponent status, the endorsement of the different units of the National Economic and Development Authority (Neda), and a Swiss Challenge. Typically, these kinds of offers take about a year from submission to award.

Subsidies. . . Continued from A1

Sugar Regulatory Administration (P1.24 billion). The National Irrigation Administration is responsible for irrigation development and management in the country; while LandBank, an official depository of government funds, provides credit assistance to small farmers, fisherfolk and agrarian-reform beneficiaries. The state-owned bank is also engaged in land valuation, compensation to owners of private agricultural lands and collection of amortization from farmer-beneficiaries of Comprehensive Agrarian Reform Program. On the other hand, GOCCs with the least amount of subsidies received are Cagayan Economic Zone Authority with P19 million, Philippine Center for Economic Development (P24 million), Philippine Tax Academy (P36 million), Zamboanga City Special Economic Zone Authority (P48 million) and National Home Mortgage Finance Corp. (P65 million). Subsidies granted to GOCCs cover operational expenses not supported by revenues, as well as payments for deficits and losses. It is also used to fund national programs, such as health insurance and cash transfer schemes, according to Congressional Policy and Budget Research Department of the House of Representatives.

THE QUICKPHL,’ BROWN FOX JU ‘MISSION: THE BM’S OVER THE LAZY RECOGNITION FORDOG. DEVT THE LAZY DOG WINS GOLD ANVIL PARTNERS,

‘M

ISSION: PHL, the BusinessMirror’s Envoys & Expats Awards,” a trailblazing initiative to recognize outstanding development partners of the Philippines and their best projects, won the Gold Anvil Award for Public Relations Program Directed at Specific Stakeholders at the 55th Anvil Awards night on Friday (February 28). The jurors for what has been dubbed the “Emerald Anvils” recognized the country’s premier business daily for “pioneering the recognition of nations and international organizations that have truly helped Filipinos here and abroad.” It was the first time for BusinessMirror, which marks its 15th anniversary in 2020, to join the Anvil, although its journalistic work has earned numerous awards for the paper and its staff. Receiving the Gold Anvil trophy for the BusinessMirror in marathon rites at the jam-packed Fiesta Pavilion of the Manila Hotel were: ALC Media Group Chairman D. Edgard A. Cabangon; BusinessMirror Publisher T. Anthony C. Cabangon; BM Editor in Chief Lourdes Molina-Fernandez; and Mission: PHL Project Director Psyche Roxas-Mendoza, also the managing editor of the Philippines Graphic magazine.

Legacy of ‘Amba’

The newspaper’s late founder, former Philippine Ambassador to Lao PDR Antonio L. Cabangon Chua, had conceived of the Envoys & Expats page in the BusinessMirror, as a way of recognizing the work of the Philippines’ foreign partners and allies; as well as outstanding expatriate personalities in industry and other sectors, and in nongovernment and volunteer organizations. The Envoys & Expats concept was later expanded to a fullblown search and awarding for

PHL. . .

Continued from A1

‘Improper step’ At the start of the DSB meeting last Friday, Thailand argued it could not accept the adoption of the agenda because the Philippine request is the improper step toward resolving the dispute. With a pending appeal before the WTO, it said the Philippines is asking the DSB to bypass the dispute process, something that might set a precedent for members to insist on the adoption of a decision even with an appeal in hand. If the petition is accepted and the retaliation is permitted, Thailand concluded, the outcome of the dispute will lose credibility. In response, the Philippines said it has parallel rights to both retaliatory action and compliance investigation. It added that it has full right to suspend concessions to Thailand ever since the WTO ruling on the cigarette dispute was issued. Manila said it is disappointed by Bangkok’s move to block the DSB from conducting its regular work at Friday’s meeting, adding that such effort is an attempt to prevent the Philippines from exercising its retaliation rights.

Manila not yielding Trade Secretary Ramon M. Lopez told the BusinessMirror the Philippines will insist on its intent to retaliate against Thai imports in spite of the failed first attempt at the WTO floor. He also said the country will pressure the WTO to decide on the dispute the soonest. At a time the WTO’s relevance is put

such outstanding foreign partners, notably embassies, aid agencies and projects utilizing official development assistance (ODA). Thus was born Mission: PHL, the BusinessMirror Envoys & Expats Awards, a biennial search that had its first awarding rites on April 4, 2019, at the SM Aura. In his keynote speech on April 4, Foreign Affairs Secretary Teodoro L. Locsin Jr. hailed Mission: PHL as a fitting initiative to express concrete appreciation to the Philippines’s ODA partners, who for decades have helped the country ramp up vital infrastructure and boost public services that advance human progress. The major awards for the first Mission: PHL were the Australian Embassy for the Outstand ing Development Partner government; the Japan International Cooperation Agency (JICA) as Outstanding Development Aid Agency; and the European Union’s novel rehabilitation program for former drug users, as the Project of the Year. Mission: PHL partnered with 10 government agencies, led by the National Economic and Development Authority (Neda) and the Department of Foreign Affairs (DFA), to conduct the technical screening of entries. For Category Awards by sector, eight agencies selected also the best foreign-assistance development projects that were lodged with them: the Department of Education, Department of Science and Technology, Department of Agriculture, Department of Public Works and Highways, Department of Environment and Natural Resources, Department of Trade and Industry, Department of Transportation and Department of Tourism. BusinessMirror also partnered with audit and consultancy firm Alas Oplas & Co. for Mission: PHL.

in question, Lopez said it is necessary for the multilateral trading body to respond by showing rules are being followed. In a separate statement, Lopez said, “what we are fighting for is the relevance of a responsive WTO. This is critical to show the world that countries who follow the rules, are also protected by the WTO.” In 2008, the Philippines initiated dispute settlement proceedings against Thailand over wrongful values assigned to its cigarette exports. The WTO in 2011 ruled in favor of the Philippines. Thailand appealed and lost in 2012. In spite of losing both the proceedings and the appeal, Thailand failed to implement measures consistent with what the WTO indicated in its decision. In response, Manila deferred its option of retaliation at first and asked the WTO to investigate Thailand for its noncompliance instead. Last year, the WTO’s compliance panels ruled that Thailand has yet to comply with the ruling, and any appeals thereafter would be resolved within 90 days. Thailand declined to cooperate with the Philippines in its efforts to settle the dispute, compelling it to go the hard way and use retaliatory rights against one of its largest trading partners. Thailand is the country’s seventhlargest trading partner, just behind China, Japan, the United States, Hong Kong, South Korea and Singapore. Based on records from the Philippine Statistics Authority, bilateral trade with Thailand slipped nearly 10 percent to $9.71 billion last year, from $10.76 billion in 2018. Exports to Thailand also dipped less than 1 percent to $2.95 billion, from $2.97 billion.

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Monday, March 2, 2020

SEC requires longer notice periods for annual and regular meetings By VG Cabuag @villygc

HE Securities and Exchange Commission has ordered a longer announcement period for its stockholders’ regular meetings as part of efforts to promote good corporate governance and the protection of minority investors.

The agency’s Memorandum Circular 3, Series of 2020, has required written notices of regular meetings to be sent to all stockholders or members of record at least 21 calendar days prior to the date of the meeting. The notice period was increased from two weeks under the old Corporation Code, or Batas Pambansa Blg. 68, to 21 days under Republic Act 11232, or the Revised Corporation Code of the Philippines, with the intention of encouraging shareholder and member participation and raising corporate governance standards. “The longer notice period will allow stockholders or members to prepare

for, participate more effectively in their regular meetings and cast votes in matters concerning the corporation such as the election of directors,” SEC Chairman Emilio B. Aquino said. “This is in line with the mandate of the Commission to promote good corporate governance, protect minority investors, and make the Philippine corporate sector more competitive globally,” Aquino said. In case of postponement of stockholders’ or members’ regular meetings, a written notice and the reason for postponement should be sent to all stockholders or members of record at least two weeks prior to the date of the

meeting as originally scheduled. The stockholders or members shall be notified of the new schedule of the regular meeting in accordance with the immediately preceding paragraph. The written notices of regu-

lar meetings must contain all information and deadlines relevant to the shareholders’ or members’ participation in the meeting and exercise of the right to vote remotely, in absentia or through a proxy.

Razon-led MORE takes over PECO assets; solon seeks Duterte mediation SBPL expected By Lenie Lectura

@llectura

AZON-LED More Electric and Power Corp. (MORE) finally took over the distribution assets of Panay Electric Co. (PECO). MORE Power President and Chief Executive Roel Z. Castro said the Iloilo City Sheriff’s Office implemented the writ of possession (WOP) issued by the Ilolilo City Regional Trial Court (RTC) Judge Emerald Requina-Contreras. The judge granted the WOP to MORE Power under the expropriation case it filed against PECO on March 11, 2019. Among the PECO distribution assets that were taken over by MORE Power as of Sunday are the following: n Baldoza-La Paz substation (land including all machineries and improvements, buildings); n General Luna substation (Meter Lab, Power Plant Building and Switchboard House); n Tabuc Suba, Jaro substation (land, machinery); n Bolilao, Mandurriao substation (land, buildings, and machinery); and n Molo substation (land, and buildings, machinery) on Avanceña Street. MORE assured the city’s residential and business customers that it will ensure continuous power supply in Iloilo City and is deploying reaction teams 24/7 to address complaints from consumers. “In order to ensure continuity of

services to the consumers of Iloilo City, MORE Power troubleshooters and line teams are mobilized to provide assistance as may be needed,” MORE Power said. MORE Power said it is ready to submit to the Iloilo City RTC its program for the complete takeover of the distribution facilities in the city, including the timelines on the transition period, accounting, turnover of records like the list of consumers, and documents relevant to the operation of the distribution system such as the inventory of personal properties under and inventory of real properties already under the possession of MORE Power. MORE Power started the process of taking over PECO’s electricity distribution facilities after securing the 15-year franchise from Congress in 2019. PECO’s franchise expired on January 19, 2019 after failing to secure an extension from Congress. Under Republic Act 11212 signed on February 14, 2019 by President Duterte, MORE Power was authorized to take over all distribution assets and other properties whether private or government-owned to it can distribute electricity in Iloilo City. For the purpose of the issuance of a Writ of Possession, RTC Branch 23 categorized PECO’s properties into three—A, B and C. Category A includes all properties that PECO did not contest as “distribution assets” such as the Baldoza, La Paz Substation and

Gen. Luna, City Proper Substation, and Tabuc Suba, Jaro Substation, among others, with a total assessed value of P217,940,870. Category B properties are those the court initially found as part of the distribution assets being listed under the PECO’s “distribution plant” in the ENergy Regulatory Commission (ERC) record, and may be necessary for the operation of MORE Power so that the operation may not be interrupted once the writ is implemented. These properties include the meter lab, power plant building and switchboard house on Gen. Luna St. in City Proper with a total assessed value at P14,792,680. Category C refers to properties excluded in the coverage of the writ because these are either under the classification “general plant” or not listed under the distribution plant” based on the ERC record. These properties include the pole stockyards in Diversion road, Mandurriao and land set aside for future substation in Brgy. Gen. Hughes in City Proper. The total assessed value of these assets is at P2,252,330. The court order indicated that the WOP issued to MORE Power covers properties under categories A and B. “Let a Writ of Possession be issued to MORE Power in order to place MORE in possession of the enumerated properties above under categories A and B. The Sheriff of this court or other proper officer is hereby ordered to place MORE Power in possession of the property above the enumerated and submit a report thereof to the court, with service of copies to

Filipinos may settle govt dues soon via GCash By Roderick L. Abad @rodrick_28 Contributor

CCOUNT holders of GCash may soon pay for government services as GXchange Inc. broadens its initiatives in support of the country’s digital transformation strategy by providing electronic payments solutions to state agencies. Users can setlle their taxes via their GCash wallets directly to the Bureau of Internal Revenue, pay for their passport application fees to the Department of Foreign Affairs, or send in their contributions to the Pag-IBIG Fund. This payments solution app will soon be available for Maritime Industry Authority, Metropolitan Manila Development Authority, National Bureau of Investigation, National Home Mortgage Finance Cor p., National Statistics Office, and the Philippine Overseas Employment Administration. “GCash is one with the government in advancing our shared

goal of improving government services through its digital transformation initiatives. Aside from promoting greater financial inclusion, two of our core thrusts in GCash is to help the government realize its goal of building a cashlite society, while helping Filipinos unlock the immense benefits of digital finance,” said Anthony Thomas, president and chief executive officer of Globe Fintech Innovations Inc. Beyond saving time in processing government requirements, users of this mobile wallet benefit from a more secure and safer option than paying in cash. To settle dues, they just need to click on the Pay Bills tile on the GCash app, click on the Government tile, and choose the agency they want to transact with. “We are encouraged to see our government partners seeing the huge benefit of providing a cashless payment option for government transactions. Aside from improved quality and efficiency of public services, hastening processes also affords government

offices to reach their revenue collection goals,” he said.

BSP initiative

This initiative also backs up the objective of the Bangko Sentral ng Pilipinas (BSP) to increase noncash transactions to 20 percent this year. “Our goal is to have a cash-lite society and not a cash-heavy society, which means that at least 50 percent of the payments will be done digitally,” BSP Governor Benjamin Diokno said in a recent speaking engagement. GCash seeks to contribute more to this goal by developing more new technologies. So far, it has already vastly democratized access to financial tools and instruments. “We remain relentless in our vision of promoting fintech in all channels—be it through digital wallets, digital credit lines, fintechpowered insurance tools, and digital payments. The government’s thrust in creating a digital Philippines is making great progress, and we are excited to continue being a strong government partner to turn this vision into reality,” Thomas said.

the parties pursuant to Section 2 of Rule 67 of the Rules of Court,” Judge Contreras said. She stressed that properties under categories B and C are the properties which the court reserves to include in the final determination of the properties to be actually expropriated in the expropriation proceedings. “The court would like to emphasize that some of the properties in Category B may not be awarded as among the actual properties to be expropriated if the court finds that they are not actually necessary for the realization of the purpose for which the franchise is the granted,” the judge wrote. The expropriation case was first assigned to RTC Branch 37 under Judge Yvette Marie Go, who inhibited from the case after granting MORE Power’s petition for a writ of possession.

Solon to Duterte: Intervene

This developed as Abang Lingkod Party-list Representative Joseph Stephen Paduano called on President Duterte to intervene in the ongoing conflict between MORE and PECO. Paduano made the call as he questioned the supposed bias of the Supreme Court in favor of MORE on the issue. Paduano cited the “unusual” inhibitions by RTC judges in the franchise-related expropriation case. Four judges have already inhibited from the case. After Judge Go of RTC Branch 37 issued a resolution for the expropriation case filed by MORE against PECO to proceed, she suddenly inhibited

herself from further acting on the case. Go’s court ruling contradicted an earlier decision of the Mandaluyong RTC Branch 209 declaring RA 11212, the law which granted MORE the franchise for power distribution in Iloilo, as “void and unconstitutional for infringing on PECO’s rights to due process and equal protection of the law.” Judge Daniel Antonio Gerardo Amular took over and issued a resolution suspending the proceedings in the expropriation case, saying that the Supreme Court had already ruled in another case that “the issue of constitutionality would be like a prejudicial question to the expropriation as it would be a waste of time and effort to appoint evaluation of commissioners and debate the market value of the property sought to be condemned if it turned out that the condemnation was illegal. Amular later issued a statement to the press stating that MORE’s lawyer asked him to inhibit from the expropriation case. He initially said that he will be defying the threat and will not recuse himself, but later on decided to give up the case anyway. Amular’s act to recuse from the case was followed by the inhibition of two more judges— Judge Ma. Theresa Gaspar of RTC Branch 33 and Judge Gloria Madero of Iloilo RTC Branch 29—citing various reasons.

3 House panels: Courts have no power to rule on contested power rate billings

HREE committees of the House of Representatatives questioned the decision of a regional trial court to entertain a case filed by South Premiere Power Corp. (SPPC), contesting its overdue payment to the government amounting to P23.9 billion. The Committees on Public Accounts, on Good Government and Public Accountability, and on Justice said Branch 208 of the Mandaluyong Regional Trial Court has no jurisdiction over the cases involving electricity rates. Justice Committee Chairman Vicente Veloso has frowned upon the decision of RTC Branch 208 to entertain a case filed by SPPC, an affiliate of San Miguel Corp. (SMC), contesting P23.9 billion in accumulated billings sent to it by state-owned Power Sector Assets and Liabilities Management (PSALM) Corp. for SPPC’s administration of the 1,200-megawatt Ilijan power plant in Batangas. The case, filed in 2015, is still pending. The Mandaluyong RTC has prohibited PSALM from terminating its contract with SPPC. According to Veloso, Section 43 of Republic Act No. 9136, or the Electric Power Industry Reform Act (Epira) of 2001, provides that the ERC “shall have the original and exclusive jurisdiction over all cases contesting rates, fees, fines and penalties imposed by the ERC… and over all cases involving disputes

between and among participants or players in the energy sector.” Veloso said the law does not allow courts lower than the Court of Appeals to meddle in cases involving electricity rates and other power-related issues. “RTC judges should not entertain such petitions. I will bring up this matter of intervention with the Supreme Court,” said Veloso. Veloso said the law also provides that ERC decisions may be appealed with the CA. Anakalusugan Rep. Mike Defensor, who chairs the Public Accounts panel, also expressed dismay over interventions made by some regional trial courts in electricity rate cases. The Committees on Public Accounts and on Good Government and Public Accountability have launched an inquiry into P95 billion in debts owed by power generators to the government. “Our inquiry is principally in aid of legislation, though we at the same time want to help the executive branch to collect this huge amount of receivables,” said Defensor. He said the committees believe that Section 43 of Epira “is clear enough on jurisdiction over disputes.” “But if it needs further clarification for all concerned, including judges ...We can recommend remedial legislation,” Defensor said. Jovee Marie N. Dela Cruz

to bring in over P1B to Meralco in 2020

AN Buenaventura Power Ltd. Co. (SBPL), a joint venture between the affiliates of Meralco PowerGen Corp. (MGen) and Thailand’s EGCO Group, is expected to contribute over a billion pesos to Meralco this year. T he operation of SBPL’s 455-megawatt (MW) supercritical coal-fired plant in Mauban, Quezon has provided P300 million of contribution to Meralco’s core net income at end-2019. When asked if SBPL will be able to post the same amount every quarter this year, MGen president Rogelio Singson replied, “Possibly, that’s expected because it’s just one quarter...we expect it.” The plant began commercial operations on September 26, 2019. It has since delivered 852M gigawatt-hours (GWh) of energy to Meralco at an average plant availability of over 87 percent as at December 31, 2019. This has eased supply within the franchise area as around 630-megawatt (MW) of plant capacities went into maintenance shutdown for almost 10 days in the last quarter of 2019. “We’ve had some hiccups early January but we were able to address immediately. We have technicians, experts in boiler, boiler tuning that have been addressed. We hope the solution is nothing major but boiler tuning. “We have contributed to the bottom line of Meralco of about P300 million, completed the project a little below budget and on schedule. We are happy with the outcome of the project and our partners are also happy with the project,” said Singson. The distribution utility firm’s president, Ray C. Espinosa, acknowledged the good performance of the power plant. “We are extremely happy,” he commented. The country’s most advanced operational coal plant utilizes a high-efficiency, low-emissions (HELE) coal technology. Singson explained that this technology could reduce carbon dioxide emissions and improve the efficiency of the power plant by producing more amount of energy with less coal. “Significant advances in coal-fired power plant technology demonstrate that we do not have to choose between affordable and reliable electricity or a cleaner environment,” he said. “As a pioneer of this technology, SBPL is setting the bar higher in operating coal plants in the Philippines,” he added. Lenie Lectura

Companies BusinessMirror

Monday, March 2, 2020

PSE STOCK QUOTATIONS

February 28, 2020

Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALs

ASIA UNITED 49.5 50 51.55 51.55 49.5 50 14,100 705,050.5 600,000 BDO UNIBANK 139 139.1 138 142 138 139 3,298,590 458,466,081 (66,335,499) BANK PH ISLANDS 74.1 74.4 79.95 79.95 74.1 74.1 3,983,060 304,392,027 (2 02,970,252.5) CHINABANK 24.75 24.85 24.8 25 24.75 24.75 152,200 3,784,990 (2,515,920) EAST WEST BANK 11 11.02 11.08 11.18 10.8 11 676,000 7,429,220 (2,289,032) 56.05 56.1 57.25 57.3 56.05 56.05 4,440,650 249,903,969 (1 29,074,047.5) METROBANK 12 12.48 12 12 12 12 6,400 76,800 PB BANK PHIL NATL BANK 28.55 29.25 29.9 30 28.55 29.25 523,300 15,129,110 3,626,015 50 51.8 50.5 52.2 50 50 2,340 119,109 PSBANK RCBC 19.68 20 19.7 20 19.68 19.68 1,337,300 26,678,622 (304,000) SECURITY BANK 154.4 155.4 160.8 163 154.4 154.4 658,950 102,960,562 (57,187,235) UNION BANK 57.35 58.45 57.5 57.5 57 57.35 114,200 6,540,795.5 (1,654,887.5) COL FINANCIAL 17.82 18.3 17.82 17.82 17.82 17.82 900 16,038 1.07 1.12 1.14 1.14 1.06 1.06 15,000 16,460 IREMIT MEDCO HLDG 0.395 0.42 0.375 0.43 0.375 0.42 1,330,000 547,300 MANULIFE 750 834.5 834.5 834.5 834 834 90 75,065 (66,720) 0.72 0.74 0.72 0.72 0.72 0.72 55,000 39,600 (36,000) NTL REINSURANCE PHIL STOCK EXCH 171.8 171.9 172.1 172.1 171.9 171.9 190 32,681 5,161 SUN LIFE 1,770 1,820 1770 1,770 1,770 1,770 10 17,700 VANTAGE 1.17 1.2 1.2 1.23 1.17 1.17 64,000 76,990 INDUSTRIAL AC ENERGY 2.05 2.06 2.08 2.09 2.02 2.06 4,331,000 8,842,140 349,670 ALSONS CONS 1.07 1.08 1.18 1.18 1.05 1.08 1,335,000 1,489,530 (18,080) ABOITIZ POWER 27.5 27.65 28.3 28.3 27.2 27.5 4,128,100 113,965,460 (61,290,965) FIRST GEN 18.34 18.4 18.78 19.98 17.82 18.34 3,423,300 63,725,110 (28,579,122) 61 61.3 62.05 62.05 61 61.3 77,500 4,757,243.5 (2,659,371) FIRST PHIL HLDG 263.2 269.8 257 269.8 256.4 269.8 405,230 106,496,834 (29,726,692) MERALCO 11.76 11.8 12 12.2 11.54 11.76 5,487,000 65,364,994 (3,682,008) MANILA WATER 3.35 3.36 3.36 3.4 3.35 3.36 1,928,000 6,482,820 327,200 PETRON PETROENERGY 3.3 3.5 3.52 3.52 3.52 3.52 4,000 14,080 PHX PETROLEUM 10.38 10.62 10.62 10.62 10.38 10.62 107,000 1,135,860 ( 117,881.9999) PILIPINAS SHELL 26.05 26.2 26.7 26.7 25.95 26.05 238,900 6,237,550 (4,525,295) SPC POWER 8.65 8.7 8.81 8.81 8.56 8.7 216,500 1,868,818 50,420 7 7.23 7.04 7.23 6.68 7.23 3,984,800 28,148,399 (18,073,288) AGRINURTURE 2.65 2.69 2.77 2.77 2.65 2.65 4,841,000 13,024,530 (5,298,080) AXELUM 88 98.95 99 99 98.95 98.95 20 1,979.5 BOGO MEDELLIN CENTURY FOOD 14.72 14.8 14.8 14.8 14.68 14.72 757,000 11,171,240 424,488 DEL MONTE 4.06 4.48 4.5 4.77 4 4 64,000 278,180 21,250 DNL INDUS 7.2 7.22 7.7 7.7 7.19 7.22 5,022,400 37,116,317 10,504,487 EMPERADOR 8.02 8.03 7.9 8.05 7.9 8.02 3,428,300 27,410,315 10,092,640 SMC FOODANDBEV 68.9 73 70.2 73 68.85 73 222,290 15,874,832 4,823,195.5 0.62 0.63 0.61 0.63 0.61 0.62 1,186,000 734,810 ALLIANCE SELECT FRUITAS HLDG 1.66 1.67 1.66 1.71 1.6 1.67 15,822,000 26,326,610 (313,560) 32.3 34.9 33.5 35 33.5 34.95 600 20,540 GINEBRA JOLLIBEE 170 170.8 173.6 173.6 170 170 1,743,110 298,816,073 (40,177,546) MACAY HLDG 6.5 6.52 6.52 6.52 6.52 6.52 100 652 MAXS GROUP 8.75 8.77 9.07 9.1 8.77 8.77 215,700 1,939,305 (464,190) MG HLDG 0.151 0.16 0.155 0.155 0.155 0.155 1,460,000 226,300 147,250 PEPSI COLA 1.84 1.85 1.8 1.86 1.8 1.85 2,081,000 3,850,170 2,160,090 8.34 8.56 8.6 8.6 8.34 8.34 243,300 2,050,887 (1,246,715) SHAKEYS PIZZA 1.55 1.58 1.58 1.64 1.52 1.55 944,000 1,475,030 ROXAS AND CO RFM CORP 4.99 5.26 5 5.26 5 5 25,300 126,613 ROXAS HLDG 1.5 1.64 1.5 1.5 1.5 1.5 1,000 1,500 SWIFT FOODS 0.115 0.121 0.116 0.121 0.115 0.121 230,000 26,620 UNIV ROBINA 141.2 141.3 139 142 138.5 141.3 1,777,100 250,944,808 (24,649,905) VITARICH 1.11 1.12 1.13 1.13 1.09 1.11 6,926,000 7,696,660 (602,330) VICTORIAS 2.4 2.5 2.4 2.5 2.4 2.5 137,000 333,800 333,800 58.95 64.9 59.1 66.4 58.9 66.4 900 53,453 CONCRETE A CONCRETE B 59.7 69 59.55 69.95 59.55 69 710 43,004 CEMEX HLDG 1.37 1.38 1.4 1.4 1.35 1.38 3,795,000 5,212,390 (1,326,010) 4.66 4.8 4.8 4.8 4.8 4.8 10,100 48,480 DAVINCI CAPITAL EAGLE CEMENT 10.3 10.4 11.12 11.12 10.18 10.3 487,700 5,151,570 (2,729,394) EEI CORP 7.92 7.95 8.4 8.4 7.95 7.95 610,100 4,876,454 (867,638) HOLCIM 13 13.18 13.46 13.46 12.7 13.18 714,000 9,254,880 (1,833,166) MEGAWIDE 12.52 12.66 13 13.28 12.4 12.66 6,331,300 80,770,688 (69,923,788) 8.86 9.9 9.05 9.9 8.8 9.9 10,500 97,246 PHINMA TKC METALS 0.83 0.86 0.84 0.86 0.83 0.83 57,000 47,920 VULCAN INDL 0.93 0.94 0.97 0.99 0.92 0.93 1,642,000 1,591,800 940 2 2.05 2 2 2 2 5,000 10,000 CROWN ASIA EUROMED 3.76 3.78 3.16 4.49 3.16 3.78 38,579,000 151,298,910 51,200 LMG CHEMICALS 4.91 5 4.99 5.24 4.9 5 2,199,000 11,056,100 MABUHAY VINYL 3.3 3.4 3.35 3.48 3.2 3.4 239,000 800,070 (30,190) PRYCE CORP 4.73 4.8 4.76 4.76 4.73 4.73 4,000 18,950 28.85 31 30 30 30 30 300 9,000 CONCEPCION GREENERGY 1.29 1.3 1.36 1.36 1.3 1.3 6,829,000 8,952,410 3,305,740 4.9 4.99 4.68 5.1 4.51 4.9 9,330,000 45,756,470 2,647,290 INTEGRATED MICR 1.12 1.18 1.17 1.24 1.12 1.18 418,000 479,930 (7,200) IONICS SFA SEMICON 1.02 1.08 1.07 1.08 1 1.08 1,097,000 1,127,020 112,000 CIRTEK HLDG 6.5 6.52 6.55 6.86 6.45 6.5 1,379,400 9,047,235 25,549

HOLDING & FRIMS

ABACORE CAPITAL 0.7 0.71 0.73 0.73 0.67 0.71 25,337,000 17,561,230 ASIABEST GROUP 9.7 9.93 9.99 10 9.69 9.7 6,300 61,616 AYALA CORP 662 662.5 690 690 662 662.5 611,790 408,886,375 ABOITIZ EQUITY 42.6 42.65 44.35 44.35 42.05 42.65 2,282,300 98,343,645 ALLIANCE GLOBAL 10.04 10.08 10.16 10.16 9.87 10.04 14,683,200 146,783,009 2 2.03 2.14 2.14 2 2 23,505,000 49,225,300 AYALA LAND LOG 6.1 6.2 6.1 6.1 5.97 6.1 9,000 54,679 ANSCOR 0.61 0.64 0.66 0.66 0.64 0.64 555,000 360,060 ANGLO PHIL HLDG ATN HLDG A 0.89 0.9 0.88 0.91 0.88 0.9 582,000 518,520 COSCO CAPITAL 6.18 6.24 6.12 6.24 6.01 6.24 2,981,200 18,450,312 DMCI HLDG 5.3 5.34 5.23 5.46 5.17 5.3 13,822,700 73,269,863 FILINVEST DEV 12 12.46 12.46 12.46 12 12 166,000 2,065,690 FORUM PACIFIC 0.22 0.235 0.22 0.22 0.22 0.22 50,000 11,000 711 713 715 715.5 704 711 171,640 121,975,665 GT CAPITAL 4.41 4.6 4.71 4.71 4.6 4.6 115,000 534,230 HOUSE OF INV 67.5 67.55 69 69 66 67.5 3,339,020 224,998,518.5 ( JG SUMMIT 5.51 6.3 5.6 5.6 5.6 5.6 1,500 8,400 KEPPEL HLDG B LODESTAR 0.465 0.47 0.49 0.49 0.47 0.47 530,000 251,400 LOPEZ HLDG 3.7 3.84 3.88 3.88 3.7 3.7 806,000 3,017,440 LT GROUP 8.94 8.95 8.7 9.15 8.7 8.95 3,550,200 31,937,586 6 MABUHAY HLDG 0.55 0.59 0.55 0.59 0.55 0.59 501,000 275,590 3.07 3.08 3.05 3.13 3.01 3.07 59,421,000 182,815,650 METRO PAC INV 4 4.39 4.02 4.02 4.02 4.02 5,000 20,100 PACIFICA HLDG PRIME MEDIA 1.02 1.07 1.07 1.07 1.07 1.07 1,000 1,070 REPUBLIC GLASS 2.65 2.8 2.65 2.65 2.65 2.65 29,000 76,850 SOLID GROUP 1.03 1.08 1.04 1.1 1 1.03 203,000 209,500 SYNERGY GRID 160 175 155 175 150 175 350 56,505 SM INVESTMENTS 974.5 977 972 981.5 960 974.5 482,350 469,690,395 SAN MIGUEL CORP 126.2 127.8 129.9 129.9 125 126.2 452,800 57,167,450 0.82 0.83 0.81 0.84 0.81 0.83 632,000 523,780 SOC RESOURCES 150.2 159.9 160 160 150.6 159.9 15,710 2,466,853 TOP FRONTIER 0.218 0.228 0.228 0.228 0.218 0.218 50,000 11,300 WELLEX INDUS ZEUS HLDG 0.174 0.185 0.188 0.188 0.172 0.185 920,000 166,180

(6,400) (210,049,850) (57,753,830) 36,837,649 624,130 41,480 2,816,722 (10,515,366) (10,844) 30,842,625 (473,240) 84,095,309.5) (1,553,620) ,736,745.0003 (105,717,190) (181,240) (122,648,175) (19,547,223) (33,200) (345,762) -

PROPERTY ARTHALAND CORP 0.76 0.77 0.78 0.78 0.75 0.75 123,000 93,020 ANCHOR LAND 8.8 9.39 8.98 8.98 8.98 8.98 5,000 44,900 44,900 AYALA LAND 39 39.3 39.3 39.5 38.65 39 34,020,600 1,328,369,060 (120,769,190) ARANETA PROP 1.55 1.67 1.55 1.55 1.55 1.55 68,000 105,400 (15,500) 1.52 1.54 1.52 1.54 1.48 1.54 4,150,000 6,296,880 1,686,910 BELLE CORP 0.56 0.58 0.58 0.58 0.56 0.56 816,000 464,220 A BROWN CITYLAND DEVT 0.78 0.8 0.79 0.8 0.79 0.8 5,000 3,990 CROWN EQUITIES 0.165 0.17 0.166 0.166 0.165 0.165 3,120,000 515,310 330,000 CEBU HLDG 6.1 6.4 6.6 6.6 6.59 6.59 300 1,979 CEB LANDMASTERS 4.42 4.44 4.41 4.43 4.13 4.42 1,572,000 6,897,580 140,020 CENTURY PROP 0.48 0.485 0.48 0.49 0.475 0.485 3,300,000 1,572,150 9,500 CYBER BAY 0.32 0.34 0.33 0.33 0.33 0.33 570,000 188,100 17 17.1 16.98 17.2 16.5 17 337,900 5,661,438 (884,098) DOUBLEDRAGON 8.7 8.8 8.94 9 8.7 8.7 155,700 1,383,616 (51,689) DM WENCESLAO 0.37 0.38 0.37 0.375 0.37 0.37 100,000 37,050 EMPIRE EAST FILINVEST LAND 1.23 1.24 1.26 1.26 1.21 1.23 39,737,000 48,776,250 (36,485,390) GLOBAL ESTATE 0.98 1.03 0.99 1.03 0.96 1.03 875,000 851,180 8990 HLDG 14.16 14.2 14.6 14.6 14.2 14.2 608,800 8,655,468 (1,235,408) PHIL INFRADEV 0.95 0.97 0.98 0.99 0.9 0.97 4,279,000 4,012,380 CITY AND LAND 0.72 0.77 0.75 0.77 0.75 0.77 14,000 10,520 3.4 3.42 3.3 3.45 3.22 3.4 60,095,000 201,659,640 (104,242,050) MEGAWORLD 0.182 0.184 0.187 0.189 0.182 0.184 7,040,000 1,299,120 (46,440) MRC ALLIED 0.42 0.435 0.41 0.42 0.405 0.42 440,000 180,500 PHIL ESTATES PRIMEX CORP 2.07 2.09 2.05 2.12 2.05 2.1 224,000 468,190 ROBINSONS LAND 21.3 21.35 23.1 23.55 21.3 21.3 2,994,600 66,457,550 (19,999,555) ROCKWELL 1.92 1.94 1.95 1.95 1.92 1.92 86,000 167,210 (3,900) SHANG PROP 3.02 3.07 3.03 3.09 3.02 3.04 126,000 382,630 (182,400) STA LUCIA LAND 2.3 2.35 2.37 2.39 2.29 2.35 380,000 879,560 (11,830) 38.25 38.3 38.35 38.4 38 38.3 19,564,600 748,531,945 (244,021,155) SM PRIME HLDG 4.91 5 5.03 5.08 4.91 4.92 56,000 279,490 VISTAMALLS SUNTRUST HOME 1.58 1.59 1.6 1.62 1.55 1.58 3,363,000 5,295,980 VISTA LAND 6.27 6.28 6.5 6.5 6.28 6.28 4,948,400 31,299,063 (22,632,028) SERVICES ABS CBN 22.6 22.65 23.95 24 22.1 22.65 1,505,200 34,749,735 GMA NETWORK 5.27 5.28 5.34 5.34 5.24 5.27 117,500 620,323 MANILA BULLETIN 0.465 0.47 0.425 0.56 0.42 0.47 31,820,000 16,340,450 GLOBE TELECOM 1,779 1,802 1829 1,829 1,779 1,779 89,350 160,177,260 (46,763,340) 987 990 990 995.5 980 990 239,410 236,707,415 (34,996,130) PLDT 3.66 3.98 3.71 3.99 3.66 3.66 13,000 48,270 DFNN INC ISLAND INFO 0.096 0.097 0.096 0.102 0.096 0.096 760,000 73,600 ISM COMM 1.62 1.63 1.68 1.71 1.6 1.63 19,290,000 31,941,280 32,940 NOW CORP 1.92 1.94 1.98 1.98 1.9 1.93 2,360,000 4,529,270 285,000 TRANSPACIFIC BR 0.211 0.22 0.21 0.225 0.21 0.211 540,000 115,650 PHILWEB 2.4 2.45 2.5 2.54 2.39 2.4 3,577,000 8,731,870 158,950 2GO GROUP 7.37 7.4 7.47 7.48 7.3 7.4 29,200 216,328 3,725 17.5 18.5 17.5 17.5 17.5 17.5 15,000 262,500 262,500 ASIAN TERMINALS 3.57 3.58 3.68 3.68 3.55 3.58 766,000 2,764,610 108,160 CHELSEA 73.55 73.8 76.9 78.05 73 73.55 182,000 13,411,239 (4,052,478) CEBU AIR 106 106.5 102 107 101.8 106 2,424,810 255,335,434 19,941,569 INTL CONTAINER LBC EXPRESS 11.7 12.3 12.6 12.6 12.58 12.58 200 2,518 MACROASIA 8.4 8.42 8.8 8.8 8.22 8.4 4,416,900 37,388,558 4,838,593 METROALLIANCE A 1.73 1.74 1.9 2.05 1.68 1.73 21,046,000 39,057,930 METROALLIANCE B 1.83 1.86 2.04 2.04 1.84 1.84 160,000 306,550 6.8 6.9 6.92 6.92 6.5 6.9 9,000 61,213 15,870 PAL HLDG 1 1.03 1.01 1.04 0.99 1.03 1,986,000 2,001,720 (335,340) HARBOR STAR 1.34 1.44 1.43 1.43 1.43 1.43 1,000 1,430 ACESITE HOTEL BOULEVARD HLDG 0.038 0.039 0.04 0.04 0.038 0.039 10,200,000 399,200 WATERFRONT 0.53 0.54 0.54 0.55 0.53 0.53 1,135,000 607,010 CENTRO ESCOLAR 6.52 6.73 6.52 6.52 6.52 6.52 300 1,956 1,956 FAR EASTERN U 801 899 800.5 800.5 800.5 800.5 1,040 832,520 IPEOPLE 7.6 7.9 7.6 8 7.6 8 70,400 535,120 418,000 0.52 0.53 0.55 0.55 0.52 0.52 1,358,000 715,930 (389,380) STI HLDG 2.49 2.5 2.55 2.56 2.21 2.5 788,000 1,946,620 (40) BERJAYA 8.15 8.22 8.31 8.31 8.03 8.15 3,868,300 31,480,340 (2,238,898) BLOOMBERRY 1.9 1.98 1.9 1.98 1.88 1.98 32,000 61,720 1,980 PACIFIC ONLINE LEISURE AND RES 1.9 1.95 1.85 1.95 1.85 1.95 23,000 44,150 MANILA JOCKEY 2.95 2.96 2.95 2.96 2.93 2.96 278,000 819,100 PH RESORTS GRP 3.96 4.5 4.03 4.03 3.97 3.97 8,000 32,080 PREMIUM LEISURE 0.51 0.52 0.52 0.53 0.51 0.52 19,277,000 10,043,110 418,210 8 8.94 8.6 8.94 8.6 8.94 1,300 11,282 PHIL RACING ALLHOME 9.39 9.5 9.8 9.8 9.31 9.5 1,885,100 17,915,797 (6,954,133) 1.58 1.59 1.65 1.65 1.58 1.59 1,876,000 3,028,080 (989,590) METRO RETAIL 36.55 37 37 37.4 36.5 37 367,400 13,553,680 (6,703,985) PUREGOLD ROBINSONS RTL 65 66.6 69.8 69.8 64.95 66.6 263,980 17,576,162.5 (15,318,202) PHIL SEVEN CORP 152 155 152 152 150 152 61,740 9,381,760 573,900 SSI GROUP 1.92 1.99 1.96 1.99 1.9 1.99 968,000 1,867,120 571,450 WILCON DEPOT 18.1 18.12 18.34 18.34 17.94 18.1 1,876,700 33,957,890 3,072,212 0.395 0.4 0.42 0.435 0.4 0.4 11,460,000 4,634,150 (4,000) APC GROUP 6.52 7 6.7 7 6.52 6.6 36,000 238,606 EASYCALL GOLDEN BRIA 405 414 404.4 415 404.4 410 70 28,734 (4,044) 2.67 2.95 2.94 2.97 2.92 2.97 5,000 14,710 PAXYS PRMIERE HORIZON 0.27 0.275 0.285 0.285 0.27 0.275 16,520,000 4,567,700 (2,330,200) SBS PHIL CORP 8.72 8.75 8.75 8.75 8.72 8.75 25,200 220,479 MINING & OIL ATOK 10.94 11.2 11.48 11.48 11.48 11.48 200 2,296 APEX MINING 0.99 1 1.02 1.03 0.99 1 4,932,000 4,937,260 (167,400) ABRA MINING 0.0012 0.0013 0 0.0012 0.0013 0.0012 0.0012 105,000,000 128,000 COAL ASIA HLDG 0.27 0.275 0.27 0.27 0.27 0.27 130,000 35,100 2.76 2.89 2.78 2.78 2.76 2.76 743,000 2,061,000 CENTURY PEAK DIZON MINES 6.44 6.45 6.52 6.57 6.35 6.45 33,800 217,167 FERRONICKEL 0.98 1 1.15 1.15 0.96 0.98 10,861,000 11,136,250 (6,860,480) 0.196 0.198 0.198 0.201 0.196 0.196 760,000 149,810 GEOGRACE LEPANTO A 0.089 0.094 0.095 0.095 0.09 0.09 800,000 72,460 LEPANTO B 0.09 0.094 0.09 0.095 0.09 0.095 40,000 3,650 MANILA MINING A 0.0072 0.0079 0 0.0072 0.0072 0.0072 0.0072 12,000,000 86,400 MARCVENTURES 0.65 0.67 0.67 0.68 0.67 0.67 51,000 34,180 0.92 0.98 0.95 0.99 0.93 0.93 116,000 108,800 NIHAO NICKEL ASIA 2.17 2.18 2.41 2.41 2.18 2.18 8,280,000 18,680,210 (9,470,680) 0.42 0.45 0.445 0.445 0.44 0.44 80,000 35,250 OMICO CORP ORNTL PENINSULA 0.58 0.62 0.58 0.62 0.58 0.62 123,000 73,260 24,800 PX MINING 2.85 2.9 2.91 2.91 2.83 2.9 311,000 887,620 SEMIRARA MINING 19.3 19.4 19.3 19.4 19.1 19.4 1,287,200 24,822,648 (10,438,386) UNITED PARAGON 0.0041 0.0048 0 0.0048 0.0048 0.0048 0.0048 7,000,000 33,600 ACE ENEXOR 6.42 6.49 6.2 7.29 6.2 6.49 483,300 3,179,501 (52,523) 0.0096 0.0097 0 0.0096 0.0096 0.0096 0.0096 1,000,000 9,600 ORNTL PETROL A PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.011 94,800,000 959,400 PXP ENERGY 6.36 6.38 6.8 6.8 6.35 6.36 656,300 4,247,854 (171,640) PREFFERED AC PREF B1 500.5 505 500.5 501 500.5 501 3,290 1,647,645 AC PREF B2R 502 503 500 503 500 503 1,400 700,970 CPG PREF A 101.2 103 101.2 101.2 101.2 101.2 200 20,240 DD PREF 101 101.1 101 101 101 101 6,980 704,980 107.1 108.2 107.1 108.2 107.1 108.2 200 21,530 FGEN PREF G GTCAP PREF A 997 999 999 999 999 999 1,500 1,498,500 GTCAP PREF B 990 1,000 990 990 990 990 60 59,400 MWIDE PREF 99.95 100 100.1 100.1 100 100 19,420 1,943,642 PNX PREF 3B 105.8 109 109.7 109.7 109.7 109.7 200 21,940 PNX PREF 4 1,030 1,044 1033 1,033 1,030 1,030 22,495 23,171,490 5,150,000 PCOR PREF 2B 1,010 1,020 1035 1,035 1,006 1,006 505 508,250 PCOR PREF 3A 1,050 1,055 1050 1,050 1,050 1,050 11,410 11,980,500 1,060 1,070 1050 1,060 1,050 1,060 100 105,500 PCOR PREF 3B SMC PREF 2C 77.6 77.7 77.95 77.95 77.7 77.7 15,810 1,228,457 SMC PREF 2D 75.15 75.65 75.05 75.65 75.05 75.65 15,520 1,172,648 SMC PREF 2E 75.25 76.4 76.4 76.4 76.4 76.4 2,000 152,800 SMC PREF 2F 76.85 77 77.1 77.1 76.85 76.85 8,760 673,622 SMC PREF 2G 75.3 75.95 75.5 75.5 75.2 75.2 8,000 603,028 SMC PREF 2H 76.1 76.4 76.1 76.1 76.1 76.1 22,000 1,674,200 SMC PREF 2I 76.2 76.95 76.05 76.2 76.05 76.2 1,220 92,809 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.9 5.09

19 5.19

19.4 5.3

19.5 5.3

18.74 5.19

19 5.19

1,047,700 20,100

19,919,090 1 105,369

WARRANTS

LR WARRANT 0.99 1.04 1.01 1.04 1 1.04 76,000 76,600

SMALL & MEDIUM ENTERPRISES

ITALPINAS KEPWEALTH MAKATI FINANCE XURPAS

2.58 8.07 2.3 0.76

2.59 8.09 2.47 0.77

2.7 8.39 - 0.79

2.71 8.39 - 0.8

2.5 8.09 - 0.76

2.59 8.09 - 0.76

503,000 167,500 - 1,143,000

1,307,570 1,369,267 - 873,890

EXHANGE TRADE FUNDS FIRST METRO ETF

103.1

104

105.1

103.1

215,730

22,378,237

,836,330.0004 (11,937) (236,550) 11,358 439,862

www.businessmirror.com.ph

SMIC income grows 20% last year on strong retail, property business By VG Cabuag

@villygc

ONGLOMERATE SM Investments Corp. (SMIC) said its net income grew 20 percent last year to P44.6 billion, from P37.1 billion last year. “We had a good year in 2019 with all our core businesses delivering strong revenue and profit growth. The retail group added over 400 stores nationwide, while the property group sustained its growth momentum led by residential and commercial developments. The banking group had a particularly good year as net income improved,” SMIC President Frederic

C. DyBuncio said. Consolidated revenues rose 12 percent to P501.7 billion, from P449.8 billion the previous year. “We are confident about the long-term growth potential of the country and we will continue to expand. We are committed to maintain a strong balance sheet that gives us the financial flexibility to fend off short-term risks

STOCK-MARKET OUTLOOK Last week

SHARE prices fell last week, with the main index suffering its worst weekly loss since 2011, losing about 8 percent, as markets all over the world experienced a sell off with investors spooked by the global spread of Covid-19. The benchmark Philippine Stock Exchange index (PSEi) fell 581.87 points to close at 6,787.91 points, the lowest in more than three years. The last time the main index closed within the said range was on December 27, 2016, when it closed at 6,658.20 points. It was only a four-day trading week, but the main index lost at least 2 percent per trading day, only slightly recovering on Thursday. The losing streak, however, continued by the end of the trading week. “Not a single member of the PSEi ended the week with gains as investors desperately sold their shares on fears that we may be the next country that encounters a severe outbreak. More than half a dozen blue chips ended with losses of more than 10 percent,” Christopher Mangun, research head at AAA Securities Inc., said. “Investors completely ignored the fact that we have not seen any more cases on our shores after the initial reports last month that tourists from China who were touring the islands contracted and succumbed to the disease. We could say that investors have capitulated and are not taking any chances despite prices already at multiyear lows prior to the sell off,” he said. The main index is already down 13 percent for the first two months of the year, or 1,027.35 points, or already similar to the losses at the beginning of 2008, the year of the global financial crisis. Trading volume picked up, averaging some P7.16 billion for the four days of trading as foreign investors dumped local shares and were net sellers at P9.43 billion. All other subindices ended on the red, led by the broader All Shares index that fell 282.44 points to 4,064.32 points, the Financials index lost 132.93 to 1,605.99, the Industrial index retreated 635.60 to 8,351.48, the Holding Firms index declined 591.90 to 6,627.08, the Property index dropped 311.57 to 3,633.18, the Services index was down 93.43 to 1,351.38, and the Mining and Oil index plunged 635.46 to 6,451.44. Losers edged gainers 197 to 32 and 15 shares were unchanged. Top gainers were Euro-Med Laboratories Philippines Inc., Ever-Gotesco Resources and Holdings Inc., ABS-CBN Corp., Mabuhay Vinyl Corp., Synergy Grid and Development Philippines Inc., Bogo-Medellin Milling Co. Inc. and Philodrill Corp. Top losers, on the other hand, were Philweb Corp., Global Ferronickel Holdings Inc., Cirtek Holdings Philippines Corp., Ayala Land Logistics Corp., Abacore Capital Holdings Inc. and Italpinas Development Corp.

This week

Share prices are expected to go down further this week, but there may be episodes of bargain hunting as the main index are already on the oversold levels, according to analysts. According to Japhet Louis O. Tantiangco, senior research analyst at Philstocks, if there won’t be any positive developments against the spread of Covid-19, then the local market will still be biased to the downside. “Investors will still be digesting the virus’s impact on the local and global economy as well as on company fundamentals, especially now that the WHO [World Health Organization] has considered it to be potentially pandemic,” he said. This week, China’s manufacturing PMI data will also be out and this may disappoint us especially that of China in light of the ongoing health crisis. Local inflation figures will also be released, which may now include the lag effects of the Taal eruption at the start of the year and the preliminary effects of the COVID-19, he said. The main index may trade from 6,600 to 6,800 points. “We may see the market lose another 1,000 points or more if we ever see an outbreak on our shores. Even if we see some gains next week or the week after, this will not be enough to negate the current trend. Investors have completely lost confidence in our market and is evident in current prices,” Mangun said, adding that the only strategy that makes sense today is to go into issues that give out high-yielding dividends or preferred shares that guarantee dividends.

Stock picks

Broker Regina Capital Development Corp. advised to hold on the stock of BDO Unibank Inc. as, despite a heavy sell down on Wednesday, it bounced back strongly and the country’s largest lender returned to its previous level. “However, the interim support forming at P136.94 is still untested to be the price floor near-term—especially with the high selling pressure still present. Expect BDO to potentially tread this range, until a solid support is established or the selling pressure dissipates,” it said. BDO shares closed Friday at P139 apiece. Meanwhile, it recommended to sell the shares of Metropolitan Bank and Trust Co. which exhibited a strong sell down on Wednesday to go as low as P57.25 per share. “Unfortunately, this might not be the price floor near-term, as indicators remain on strong sell sign. Early in February, the P56.65-level acted as a jumping board to push the stock to reach the P61.55-level, and might act as the next stable support for the stock,” it said. Metrobank shares closed last week at P56.05 apiece. VG Cabuag

and to take on opportunities that may come our way,” DyBuncio said. Operations under SM Retail Inc.—consisting of nonfood, such as the department store and specialty stores, and food stores, such as the supermarkets—netted revenues that grew 9 percent to P366.8 billion. Its net income rose 10 percent to P12.5 billion. SM’s department store opened two new stores in Ortigas in Pasig City and Olongapo in Zambales. Total gross selling areas of all 65 department stores in 2019 stood at 806,230 square meters. The food group, which includes Alfamart and WalterMart, added 248 new stores last year. SM Retail added a total of 412 new outlets in 2019 across the portfolio. By year-end, SM Retail had a total of 2,799 outlets, compris-

mutual funds

ing 65 department stores, 1,609 specialty retail outlets, 58 supermarkets, 52 hypermarkets, 201 Savemore, 60 WalterMart and 754 Alfamart stores.

SM Prime

Shopping mall operator SM Prime Holdings Inc. recorded consolidated net income growth of 18 percent to P38.1 billion, from P32.2 billion the previous year. BDO Unibank Inc. posted a net income of P44.2 billion, up 35 percent, while China Banking Corp. reported a net income growth of 24 percent to P10.1 billion. The total assets of SM grew 8 percent to P1.1 trillion. By the end of 2019, SMIC had a gearing ratio, or how much of the business funding comes from borrowed methods as against total equity, of 36 percent net debt to 64 percent of total equity.

February 28, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc. -a 226.49 -14.01% -3.48% -4.18% -10.08% ATRAM Alpha Opportunity Fund, Inc. -a 1.1863 -25.58% -5.27% -6.05% -14.16% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1682 -22.98% -7.56% -6.66% -13.87% Climbs Share Capital Equity Investment Fund Corp. -a 0.7864 -16.34% n.a. n.a. -12.34% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7667 -10.55% n.a. n.a. -9.73% First Metro Save and Learn Equity Fund,Inc. -a 4.8054 -12.81% -2.23% -3.86% -9.81% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.7576 -13.32% -6.16% n.a. -11.25% MBG Equity Investment Fund, Inc. -a 93.24 -24.85% n.a. n.a. -9.76% PAMI Equity Index Fund, Inc. -a 45.6138 -12.04% -1.63% n.a. -11.05% Philam Strategic Growth Fund, Inc. -a 479.92 -11.53% -2.19% -3.59% -9.92% Philequity Alpha One Fund, Inc. -a,d,8 0.9401 n.a. n.a. n.a. -8.74% Philequity Dividend Yield Fund, Inc. -a 1.1577 -11.36% -1.76% -2.65% -10.04% Philequity Fund, Inc. -a 33.9873 -11.78% -0.84% -2.52% -10.32% Philequity MSCI Philippine Index Fund, Inc. -a,1 0.9091 -11.69% n.a. n.a. -10.71% Philequity PSE Index Fund Inc. -a 4.6492 -11.33% -0.96% -1.97% -10.99% Philippine Stock Index Fund Corp. -a 776.29 -11.28% -0.99% -2.13% -10.98% Soldivo Strategic Growth Fund, Inc. -a 0.7372 -18.72% -4.57% -5.84% -13.41% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7286 -13.02% -1.53% -2.79% -11.42% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8909 -11.49% -1.16% n.a. -10.98% United Fund, Inc. -a 3.298 -10.19% 0.64% -1.12% -9.73% Exchange Traded Fund -1.21% -10.9% First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 104.2005 -10.93% - 0.32% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $0.9669 -5.02% 2.03% -0.98% -5.98% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3466 7.7% 7.28% n.a. -2.33% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5104 -12.02% -4.12% -5.03% -3.35% ATRAM Philippine Balanced Fund, Inc. -a 2.0545 -10.75% -3.29% -2.94% -5.8% First Metro Save and Learn Balanced Fund Inc. -a 2.4934 -5.29% -0.04% -3.15% -5.25% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2063 n.a. n.a. n.a. -9.72% NCM Mutual Fund of the Phils., Inc. -a 1.8908 -0.76% 1.14% -0.54% -3.68% PAMI Horizon Fund, Inc. -a 3.5895 -1% -0.11% -1.7% -5.27% Philam Fund, Inc. -a 16.056 -2.13% -0.29% -1.77% -5.33% Solidaritas Fund, Inc. -a 2.0101 -5.78% -0.71% -1.18% -5.44% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5895 -5.88% -0.13% -1.59% -7.1% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 0.9612 -2.55% n.a. n.a. -5.37% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9131 -7.05% n.a. n.a. -8.36% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9037 -7.94% n.a. n.a. -9.01% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8918 -7.46% -1.19% -3.07% -8.51% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03935 10.07% 3.61% 2.36% 2.93% PAMI Asia Balanced Fund, Inc. -a $1.0009 1.25% 2.6% -0.04% -3.56% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8746 6.98% 5.99% 3.24% -0.93% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1319 6.14% 3.71% n.a. 0.27% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 359.59 4.02% 2.77% 2.31% 0.5% ATRAM Corporate Bond Fund, Inc. -a 1.9095 2.47% 0.44% -0.53% 0.39% Cocolife Fixed Income Fund, Inc. -a 3.1409 4.86% 5.16% 5.17% 0.79% Ekklesia Mutual Fund Inc. -a 2.2429 4.39% 2.25% 1.94% 0.8% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3703 6.45% 2.29% 1.41% 0.47% Philam Bond Fund, Inc. -a 4.4111 12.48% 2.66% 1.73% 0.87% Philequity Peso Bond Fund, Inc. -a 3.7963 6.02% 2.92% 1.35% 0.21% Soldivo Bond Fund, Inc. -a 0.9764 7.32% 1.68% 0.37% 1.25% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1003 9.41% 4.37% 2.57% 0.79% 8.51% 3.71% 2% 0.33% Sun Life Prosperity GS Fund, Inc. -a 1.7067 Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $472.17 4.54% 2.7% 2.69% 0.84% ALFM Euro Bond Fund, Inc. -a Є221.16 2.91% 1.64% 1.3% 0.65% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2201 5.86% 3.18% 2.53% 1.07% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 4% 1.45% 1.28% 0.78% PAMI Global Bond Fund, Inc -a $1.1175 6.25% 1.47% 0.01% 2.04% Philam Dollar Bond Fund, Inc. -a $2.4695 11.03% 3.89% 3.03% 2.73% Philequity Dollar Income Fund Inc. -a $0.0609291 5.82% 2.36% 1.88% 1.02% 3.69% 2.97% 3.35% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2816 11.76% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 126.54 3.87% 2.97% 2.25% 0.6% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0321 2.9% n.a. n.a. 0.57% Philam Managed Income Fund, Inc. -a 1.2603 6.17% 3.17% 1.73% 0.29% Sun Life Prosperity Money Market Fund, Inc. -a 1.2709 3.62% 2.95% 2.46% 0.5% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0403 2% n.a. n.a. 0.3% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.98 n.a. n.a. n.a. -1.01% 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 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is November 15, 2019. 5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 7 - Adjusted due to stock dividend issuance last October 9, 2019. 8 - Launch date is December 09, 2019. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa. com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Perspectives The corporate world (finally) embraces sustainability

ast year, we noted that sustainability had started to become embedded into public consciousness. And we argued that governments and corporations would need to move quickly in response. Recent climate protests suggest there is still a lot of work to be done. Some corporations have become lightning rods in the climate debate. Extractive industries, in particular, are in the firing line— not only from protesters flinging red dye at company headquarters, but also from governments seeking redress for the costs of dealing with climate change. The activities of groups like Extinction Rebellion and the People’s Climate Movement only reinforce that society now expects more from their governments and corporations. The good news is that corporations are now starting to embrace the sustainability agenda and more specifically the concept of de-carbonization. This past September, 87 major companies representing more than $2.3 trillion in market capitalization committed to support the 1.5 degree goal set out at the Paris climate talks. Many are making significant investments towards reducing their carbon footprint across the supply chain. Even the extractive industries are getting in on the action. We are aware of a number of oil producers, coal extractors and miners who are switching the power source of their production facilities over to sustainable energy sources. Many are also investing into new, ‘cleaner’, revenue streams in order to diversify their portfolios away from non-ESG (Environmental, Social and Governance) compliant assets in the future. While initiatives by individual companies and industry groups are encouraging, we expect changes in the financial markets to provide the greatest catalyst towards wide-spread corporate adoption of ESG criteria this year. Indeed, it seems the financial markets are passionate about sustainability and in particular, they are focusing on corporates with clearly defined decarbonization strategies. According to recent data, the so-called ‘Impact Investing’ market is now estimated to be worth more than $500 billion. Another $500 billion has been invested into Green Bonds to date. And that’s just a small slice of the action. At the start of 2018, global sustainable investing assets in just five major markets were estimated to have reached more than $30 trillion. ESG performance is similarly becoming part of mainstream decision-making. This should be sobering news for those infrastructure owners dependent on non-ESG compliant assets and revenue streams. The reality is that, as the trend towards ESG investing continues, owners and promoters of these assets and projects will find it increasingly difficult to secure funding and financing at reasonable rates. Over the next few years, we believe it is inevitable that significant value in non-ESG compliant assets will become stranded or lost. While the shrill voices at the extremes will persist, we are seeing a significant shift in the ‘middle.’ The mainstream corporation and investor now understand the strategic importance of addressing this issue. This year expect them to evolve themselves and push governments towards action. Where government inaction is insurmountable, don’t be surprised to see more private interests taking infrastructure planning and decision-making into their own hands. The excerpt was taken from the KPMG article titled “Emerging Trends in Infrastructure.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg. com.ph.

Monday, March 2, 2020 B3

Govt share to ADB grant fund seen to bolster regional growth

By Bernadette D. Nicolas

@BNicolasBM

HE Philippine government’s firstever contribution to a grant facility of the Asian Development Bank (ADB) will not only bolster the economic growth of the country but also that of the Asia-Pacific region, the finance chief believes.

In a statement on Sunday, Finance Secretary Carlos G. Dominguez III said the growth of least developed countries (LDCs) will provide the Philippines and the rest of the region with new potential markets to further boost domestic and regional economic expansion. Dominguez added the Philippines’ contribution to Asian Development Fund (ADF) is set to be announced during a pledging session to be held on the sidelines of the ADB’s 53rd Annual Meeting in Incheon, Korea in May this year. The ADF “provides grants to ADB’s lower-income developing member countries,” the ADB website said. “Established in 1974, the ADF initially provided loans on concessional terms. Activities supported by the ADF promote poverty reduction and improvements in the quality of life in the poorer countries of the Asia and Pacific region.” Since the Philippines graduated from

ADF assistance in 1999, we have yet to contribute to the replenishment of that fund, Dominguez was quoted in the statement as saying. “Now, as we move to the upper middleincome status, the country is poised to extend help to the LDCs including some of our neighbors in the Asean [Association of Southeast Asian Nations] and the Pacific,” he added. The pledging session for ADF 13 scheduled on May 2 will be the 12th time that the ADF will be replenished since it was established in 1974. “With the proposed Philippine contribution to ADF 13, the country is expected to benefit in terms of further driving its growth from the possible development of new markets within the region,” Dominguez said. Manila’s contribution to the ADF also conveys goodwill to the region’s LDCs, whose economic and social development

will also have an external benefit to the Philippines in terms of strengthening regional health security by preventing the transmission or outbreaks of such as HIV-AIDS, malaria, tuberculosis, and other major illnesses, the finance chief said. Dominguez stressed this move also comes at a crucial time when assistance from the Manila-based multilateral lender’s European partners may possibly be reduced. In his first courtesy call recently at the Department of Finance (DOF) office in Manila, ADB President Masatsugu Asakawa thanked President Duterte for Manila’s planned contribution to the ADF. The ADB’s ADF grant facility aims to promote poverty reduction and improvements in the quality of life of people in LDCs of the Asia-Pacific region. It is specifically dedicated to support ADB’s poorest and most vulnerable developing member-countries, such as Afghanistan, Cambodia, Kiriba, Kyrghyz Republic, Maldives, Marshall Islands, Federated States of Micronesia, Nauru, Nepal, Samoa, Solomon Islands, Tajikistan, Tonga, Tuvalu and Vanuatu. The ADF’s total replenishments has reached $4.01 billion, inclusive of $2.59 billion in donors’ contributions, according to the DOF. Some Asean countries that had graduated from ADF assistance like Thailand and Indonesia are now donors to the ADF. The ADF is currently being supported by non-regional donors, such as selected European countries, the United States, Canada and Turkey, and regional donors

(Australia, China, India, Japan, Kazakhstan, South Korea, New Zealand, Taipei, and selected Asean countries). Asakawa also reiterated during his meetings with Duterte and Dominguez that ADB is in full support for the Philippine government’s “Build, Build, Build” infrastructure modernization program. The ADB President also congratulated the government for its remarkable success in bringing down the national poverty rate to 16.6 percent in 2018 from 23.3 percent in 2015. He also vowed that the ADB will continue supporting Philippines’ efforts to reduce poverty and create high-quality jobs for Filipinos. The Philippines has been supportive of various initiatives of other institutions such as the World Bank (WB), International Monetary Fund (IMF) and the United Nations (UN) to assist LDCs. It is a continuous donor to the WB’s International Development Association and the UN’s International Fund for Agricultural Development. The Philippines, through the Bangko Sentral ng Pilipinas, extended until end of this year a $1-billion loan facility to the IMF through a bilateral borrowing agreement, which was first signed in 2013, to support countries going through financial difficulties. This loan will help strengthen the global financial safety net and contributes to the IMF’s overall lending capacity of about $1 trillion for an additional year.

Fulfill moral obligation, phase out coal finance, Bishop tells banks By Jonathan L. Mayuga @jonlmayuga

Church leader has asked Philippine financial institutions to fulfill their moral obligations by stop funding coal projects and start supporting the development of renewable energy. Speaking during the 3rd Philippine Environment Summit on Friday, Bishop Gerardo A. Alminaza of the Diocese of San Carlos, Negros Occidental, said banks must have concrete plans to phase out coal finance consistent with the need to address the climate crisis. “They must have clear policies restricting their exposure to coal, channeling the funds they divest from it into clean and affordable renewable energy for all Filipinos,” Alminaza, who spoke representing the groups leading the “Withdraw From Coal” campaign. The summit held on February 26 to 28 in Cagayan de Oro gathered more than 200 participants to tackle the country’s

state of the environment and current initiatives contributing to the social and economic development while conserving the environment. In his talk, Alminaza praised President Duterte’s 2019 State of the Nation Address (SONA) when he directed the Department of Energy (DOE) to fast track the development of renewable energy sources and reduce the country’s dependence on coal. However, he pointed out that the continuing dominance of coal in the country’s energy mix calls for an even more ambitious ways forward from different sectors, including the finance industry. He said 13 banks continue to fund coal-fired power plant projects, a reason “coal is expanding instead of shrinking despite the policy supposed promoting renewable energy having put in place.” Because of this, he said they become as liable as proponents of coal-fired power plants as they enable the continued suffering of affected communities. “Banks financing coal are not only

funding the climate crisis, they are also enabling the continued suffering of coalaffected communities,” he stressed. According to Alminaza, 16 new coalfired power plants added to the national fleet in the last decade. With this, the Philippines is still looking to add a total of 12,014 megawatts of new coal power, making it the ninth biggest coal expansionist in the world as of 2019. The group had identified 13 local banks that have loaned or underwritten $6.303 billion to coal interests from 2017 to the third quarter of 2019. Two of these banks account for nearly 55 percent of this finance, the group’s statement said. “The world has until 2030 to reduce coal use by 78 percent from 2010 levels to avoid even more disastrous climate impacts,” Alminaza said citing a report by the group Intergovernmental Panel on Climate Change. “As stewards of Creation, we must unite with our scientists on this and seek to veer away from a fuel that causes the suffering of our people and destruction of our Common Home.”

As the Philippines is one of the most vulnerable nations to climate change, he said it must hence take the lead in phasing out coal, and financial institutions must take their role in it seriously. To demonstrate its commitment to promote a healthier environment, the Catholic Bishops Conference of the Philippines (CBCP) and the Diocese of San Carlos, he said, are divesting its resources from dirty energy technologies. During the event, a petition letter addressed to the Bank of the Philippine Islands, the bank with which many Church organizations have financial relations, was circulated and signed by hundreds of participants, including Bishop Antonio Ledesma of Cagayan De Oro. “We appeal to all to join the calls as written in our letter as expression of our care for our common home and our future generations,” Alminaza said. “For as one saying goes, ‘We do not inherit the Earth from our ancestors; we borrow it from our children.’ We must act swiftly for time is running out.”

Central banks, global policy-makers on virus alert as markets explore action

lobal policy-makers are on alert to the economic fallout from the spreading coronavirus after stocks slumped last week. Federal Reserve Chairman Jerome Powell is already standing ready to cut interest rates after saying last Friday that the US central bank will “act as appropriate” as the virus poses “evolving risks” to the economy. The week opens after Saturday’s release by China of an index of manufacturing activity. It’s plunge to a record low will renew fears that the world’s second largest economy may not rebound as fast as first hoped. A series of similar reports will be published in coming days around top economies, giving a sense of how they are faring. “The data confirm the worse fears about a juddering halt in China’s economy in the first quarter, with significant spillovers to the region and the world,” Bloomberg’s economists said. The Purchasing Managers’ Index (PMI) should recover a little in March, but the damage will be far from being unwound and support

from the government and central bank will strengthen, including more fiscal support, cuts to reserve requirement ratios for banks and lower borrowing costs.

same day will also draw attention as will Friday’s release of the trade balance for January which is expected to show a deficit of $47 billion. The Bank of Canada sets monetary policy on Wednesday, the penultimate such decision before Stephen Poloz steps down as Governor. Investors increasingly bet he will lower borrowing costs at least once before he steps aside in the summer. Canada also releases an employment report on Friday.

Asia

With the Chinese PMI now published, the week kicked off last Sunday with a South Korean export gain that masked the growing damage from the coronavirus. On March 2, the outbreak’s rippleeffect through the region’s supply chains is likely to be on display when PMI reports are released. On Tuesday, central banks in Malaysia and Australia will meet, with economists at this stage expecting both to remain on hold. Rounding out the week, Australia releases output data for the fourth quarter on Wednesday, Japan will publish labor cash earnings numbers on Friday and China will post trade numbers for the start of the year on Saturday.

The US and Canada

It’s a heavy week of speakers

Europe, Middle East and Africa Foreign currency dealers wearing protective masks work in Seoul. Bloomberg NEWS

from the Fed. About a dozen policy makers will make public remarks including six on Friday at a conference in New York to commemorate former Fed economist Marvin Goodfriend. Investors will also be watching the release of the February employment report on Friday as a sign of the labor market’s strength before the virus spread more widely. The Bloomberg

survey points to non-farm payrolls gaining 175,000 versus 225,000 the previous month. Monday sees the release of Markit’s PMI for manufacturers which consensus of economists reckon will stay above the 50 marker between contraction and expansion. Productivity data on Thursday and a durable goods orders report the

Whether the virus will increase the risk of recession in several European countries remains the top area of debate now that cases of the coronavirus have occured across the region. The Organisation for Economic Co-operation and Development gets a chance to weigh in on Monday when it updates its economic outlook for the first time since November. Bank of England Governor Mark Carney speaks on Thursday as his

time in office enters its final days. On the data front, the week begins with surveys of manufacturing activity across the continent, again a chance to assess the impact of the virus. The services gauges come Wednesday, the day after the euroarea publishes inflation and unemployment numbers. Italy releases a final estimate of fourth quarter gross domestic product on Wednesday. Poland’s central bank is set to keep interest rates at a record low 1.5 percent on Wednesday. Turkish data on Tuesday is expected to show inflation climbing to 12.7 percent, pushing real interest rates further into negative territory. Bloomberg News

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PHL govt urged: Take prompt steps to improve air quality

ir pollution is a silent killer in the Philippines, thus, the government must take urgent steps to address the problem before it gets worse, concerned groups urged.

Environmental, science and health groups last week raised the alarm following recent reports on poor air quality in the country. A global report launched last week showed that air quality in the Philippines contains PM2.5 pol lution levels that sig nif icantly exceed the safety limits prescribed by the World Health Organization (WHO). The groups—Greenpeace Philippines, Clean Air Asia, Center for Energy, Ecology and Development (CEED), Health Care Without Harm, the Philippine Movement for Climate Justice and the World Wide Fund for Nature Philippines—also called on the Philippine government to revamp and improve current air pollution monitoring systems in order to provide more reliable information on whether the air in the communities is still safe. The 2019 AirVisual report places the Philippines in the 58th spot out of 98 countries with locations from where air-quality data was collected. The groups emphasized that while available AirVisual data did not place the Philippines as among the countries with the worst air quality, it nevertheless shows that the country still has very polluted air. Year-on-year data also shows that the country’s air quality is getting worse. Average PM2.5 pollution levels in AirVisual sites increased from 14.6 micrograms per cubic meter in 2018 to 17.6 μg/m3 in 2019. The safety limit set by the WHO is 10 μg/m3. PM2.5 is the term for fine particulate matter that is less than 2.5 micrometers in diameter. This pollutant can come from various sources, especially combustion of fuels. Because of its small size, it can impair lung function and is known to cause respiratory illnesses, heart disease and premature death.

The groups also noted that the report only looks at PM2.5 pollution, and does not include other pollutants, such as sulfur oxide, nitrous oxide, ozone and other contaminants that carry deleterious health risks. A report released by Greenpeace Philippines earlier this month showed that these and other toxic emissions can cost Filipinos as much as 1.9-percent GDP loss and 27,000 premature deaths. The groups are calling for better air pollution standards in the Philippines, including improved monitoring, transparency and analysis. In the case of the 2019 AirVisual report, the quantity and placement of air monitors from which data were collected provide only a small snapshot of the threat of PM2.5 air pollution. To be effective, the groups say that the government should monitor places close to main sources of air pol lution, such as coa l-fired power plants and high traffic areas of motor ized vehicles. Further, the groups have called for the following measures to address the impacts of air pollution: n President Duterte to declare air pollution as a national issue and to order all line agencies involved in air-quality monitoring and regulation to prioritize this issue; n Enhance transparency, and expedite the review and update of the air pollution standards under Republic Act 8749, or the Clean Air Act of 1999. n Issue a moratorium on all Permits to Operate Air Pollutant Installations, especially for proposed coal-filed power plants until the Ambient Air Quality Guideline Values, and Standards and Emission Standards are updated. n Make air pollution monitoring devices mandatory in all cities, government offices and, particularly, in heavy polluting industries/facilities, such as coal power plants and

2/3 of world’s most polluted cities are in India Heavy traffic in Metropolitan Manila Nonoy Lacza/file

in areas with high concentration of motorized vehicles. n Allocate more funds and manpower to the Department of Environment and Natural Resources to increase its capacity in air-quality monitoring, including enabling the department to install its own emissions-monitoring devices in existing coal-fired power plants and, in the meantime, adopt a stringent process for validating self-monitoring reports of emissions rates. n Fully prepare and implement a National Plan on the Reduction of GHG, as mandated by Section 31 of the Philippine Clean Air Act. n Address the root cause of air pollution in the country by implementing a transition plan away from the use of coal energy and fossil fuels in the transport sector. K hev in Yu, campa ig ner of Greenpeace Philippines, said: “The Philippine government should see the data as an impetus to overhaul air-quality monitoring systems in the country, as well as to transition away from highly polluting facilities, such as coal plants.” He added that the country’s safety standards for air pollution haven’t changed since 1999. “But what’s worse is that there are still no efficient air-quality monitoring systems in place. This situation has allowed industries and facilities to pollute the air we breathe with impunity. The good news is that the solutions to air pollution are also solutions to the climate crisis, and addressing air quality now will not just improve the livability of our cities and municipalities, but also move the country away from dependence on fossil fuels,”

Maynilad installs rainwater-harvesting facility

A pupil from Putatan Elementary School in Muntinlupa City fetches water from the rainwater-harvesting reservoir to be used for the school garden.

est Zone concessionaire Maynilad Water Services Inc. (Maynilad) recently installed a rainwater-harvesting facility at Putatan Elementary School in Muntinlupa City. The project is in support of government’s initiative to have more rainwater storage as alternative raw water source. The company built the 700-liter-capacity rainwaterharvesting system to provide water supply for nondrinking purposes, such as watering the school’s gardens and flushing the toilets. “Given the current water shortage, having a rainwaterharvesting system can go a long way in augmenting the supply needs of consumers,” said Maynilad President and CEO Ramoncito Fernandez. The rainwater-harvesting project was done with the support of the Metropolitan Waterworks and Sewerage System, and the Department of Education.

Yu added. For his part, Bjarne Pedersen, executive director of Clean Air Asia, said online reports of world rankings of cities in terms of air pollution provide with some important insights into the state of air quality in parts of Asia, which, in turn, helps raise awareness on the levels of air pollution. “Heightened awareness can increase public concern about the impacts of air pollution and build momentum for continued mitigation efforts. However, concrete actions require more than just numbers. We all have a role to play in improving air quality, and collaboration among all stakeholders will be essential to achieve the transition we need. We have the technology, we have the knowledge and we have the solutions. Clean air for all is achievable. But we must act now,” he said. Gerry Arances, executive director of CEED, said the fact that the Philippines is not listed among countries with most polluted air, and that some of its cities are deemed as having least dirty air among other urban centers in Southeast Asia “are in no way reasons to pat the backs of Philippine authorities, especially the DENR [that is] mandated to ensure clean air for Filipinos.” He explained: “Given that tens of thousands of our people die every year due to polluted air, results of the AirVisual report are instead indicative of the absolute inadequacy of air-quality monitoring in the country, the lax implementation of standards, and the neglect in keeping policies up to date with health, climate and environmental imperatives.”

everal Chinese cities, including Beijing, have dramatically improved their air quality in recent years, while Indian metropolises remain some of the world’s worst polluted, according to a new report. Beijing—once infamous for its toxic haze— has reduced smog levels and dropped down a list of the world’s most polluted cities, falling to 199 from 84 three years before, according to the 2019 World Air Quality Report published last week by IQAir AirVisual. In contrast, India still dominated its list of the smoggiest urban areas, accounting for 14 of the top 20. Despite new government policies meant to address the issue, New Delhi’s air quality has fallen from where it was five years ago, rising to the fifth-worst spot globally and making it by far the world’s most polluted major city, the report said. The worst-ranked city—Ghaziabad—is a Delhi suburb, as are a number of others ranked separately in the top 20. India, China and other Asian countries remain disproportionately affected by toxic air as a result of factors ranging from crowded cities, vehicular exhaust, coal-fired power plants, agricultural burning and industrial emissions. The issue is hardly tangential. The World Health Organization estimates that dirty air kills around 7 million people each year, while the World Bank says it drains the global economy of $5 trillion annually. Even before the coronavirus outbreak and trade war slowed China’s smog-producing industries, Chinese officials had mobilized the country’s topdown, authoritarian state to implement—and enforce—sweeping measures, as well as shifting production away from its biggest cities. A recent report from the Centre for Research on Energy and Clean Air separately found that Beijing and Shanghai had seen “major progress,” while levels of fine particular called PM2.5 increased in other parts of the country. India faces a starkly different situation. Across much of northern India, air quality remains catastrophic as politicians prioritize economic growth and spar over responsibility. Many citizens are still unaware of health concerns and resource-starved agencies struggle to carry out new—or even existing—measures designed to curb the smog. “In Beijing, it’s a priority when they say something, they do it, they put the resources in,”said Yann Boquillod, AirVisual’s director of air quality monitoring. “In India, it’s just starting. People need to put more pressure on government.” A spokesman for India’s environment ministry didn’t respond to a request for comment. Indian Prime Minister Narendra Modi’s

SIA PHL in Clark goes solar

AlphaSolar Inc. Managing Director Tito Maglaqui (third from left) talks about solar-energy solutions during the recent weekly CAMI media forum held at the Bale Balita in Clark Freeport Zone. With him are Symbior Solar Business Development Manager Margaret Honrado (fifth from left) and SIA Engineering Corp. Philippines Deputy General Manager Rene Philip Banzon (center) and members of CAMI. CDC-CD Photo

LARK FREEPORT—As the demand for renewable energy increases, another locator inside this freeport has recently signed an agreement with a solar-power provider for an alternative solution to maintain a sustainable environment. During the weekly Balitaan media forum recently, Rene Philip Banzon, Singapore Airlines (SIA) Engineering Corp. Philippines. deputy general manager, said his company has signed an agreement with AlphaSolar Inc. Balitaan is a weekly Kapihan (news forum over coffee) led by Capampangan in Media Inc. (CAMI) in cooperation with Clark Development Corp. (CDC).

The solar energy project of SIA is the second environment-friendly project that the firm will undertake in Clark. Currently, it has a rainwater collection system using the roof to recycle water for toilets. “As one of our recent projects in connection with our thrust toward sustainability is the solar roof panel which was signed last Tuesday [February 18],” Banzon said. The contract signing is a go signal for the order and delivery of solar panels with a capacity of 504 megawatts, as big as the one in Viskase Asia Pacific Corp., which will be enough to power all three hangars.

government has won praise for promoting solar power and improving emission standards. It has handed out millions of gas canisters to reduce the number of families using smoky household cooking fires. In January of last year, the government also launched the National Clean Air Programme. But these measures haven’t had a serious impact on increased coal power plant usage, dust left by the thousands of under-regulated construction sites, and exhaust from millions of new cars and motorcycles. Air-quality experts have also criticized the national program for lacking strong enforcement and funding. Although many Indian cities saw progress between 2018 and 2019, “unfortunately these improvements are not representative of the very recent, but promising National Clean Air Programme” and cleaner fuel standards, according to the AirVisual report. Instead, the authors said, they signal a lagging economy, which grew at about 5 percent—the slowest expansion since 2009—compared with 8.3 percent in 2017. The deadly air also kills roughly 1.2 million Indians each year, according to a recent study in the Lancet. While President Donald J. Trump visited the Indian capital and met with Modi last week, New Delhi was ranked by AirVisual as the world’s most polluted city. PM2.5 levels soared as high as 199—more than double the local annual average last year. However, India was far from the only country that remained deeply challenged by smog. Although several Chinese cities—including Shanghai—saw improvement in air quality, Kashgar and Hotan in the restive, western Xinjiang region were among the world’s worst. Cities across Asia—including Chiang Mai, Hanoi, Jakarta and Seoul—saw sharp increases in PM 2.5 levels. Since 2017, Jakarta saw pollution increase by 66 percent, making it the worst in Southeast Asia. In Thailand, Chiang Mai and Bangkok both saw a number of extremely smoggy days—some of which led authorities in the capital to close schools—resulting from construction, diesel fuel and crop fires in surrounding regions. The problem is particularly challenging for South Asian countries. Using a weighted population average, Bangladesh was actually ranked the world’s most polluted country, while its capital Dhaka was the second worst after Delhi. Pakistan was the second-most-polluted country, while Afghanistan, India and Nepal were all in the top 10. Bloomberg News

AlphaSolar Inc. Managing Director Tito Maglaqui and Symbior Solar Business Development Manager Margaret Honrado were also present during the CAMI forum. Maglaqui explained how solar energy could be cost-efficient for industries and households as the company is planning to create a business model that will benefit an entire community. He said during the forum that they are also targeting regular households to try the alternative source of energy to power up their electric appliances. With this, “we will be mobilizing a project for Pampanga-based developers and subdivisions so we will containerize the energy storage systems for the community,” Maglaqui said. “It’s a system-wide approach for a sharing economy,” he added. Last year, AlphaSolar Inc. held their first Solar Energy Forum at the Clark Marriott Hotel, which was attended by Clark locators. Among the first to subscribe to solar energy is Viskase Asia Pacific Corp., the first company to use industrial scale solar-powered rooftop system inside the freeport. Solar energy produces about 910,000 kilowatt hours per year that will save around P190 million in 25 years. SIA is joining the movement toward attaining a sustainable environment using renewable energy from solar power which is cost-efficient and safe. According to the International Energy Agency, renewables will have the fastest growth in the electricity sector, providing almost 30 percent of power demand in 2023.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, March 2, 2020

Editor: Lyn Resurreccion

ASEAN HERITAGE PARKS

Gene pool of PHL’s rare, endemic species By Jonathan L. Mayuga

@jonlmayuga

ne of the world’s megadiverse countries, with a high rate of endemism, the Philippines is also a biological hot spot because of rapid rate of biological loss. The enormous threats to the country’s environment and natural resources range from natural phenomena, like a volcanic eruption, forest fires and climate change-trig gered events, like severe drought, sea-level rise, salt-water intrusion, f looding and landslide. Among the threats also include destructive human activities, like massive land conversion for realestate development; commercial logging; mining; quarrying to unsustainable agricultural practices; specifically slash-and-burn farming, charcoal making, timber poaching for construction, and dependence to wood for fuel to hunting for food and trophy, and harvesting of animal and plant wildlife for the highly lucrative illegal wildlife trade. Efforts to conserve and protect the country’s rich biodiversity, nevertheless, have gone a long way, through laws and policies, including international commitments. Anchored on the strength of its protected area management, the Philippines has more than 240 protected areas covering more than 5 million of the country’s 30 million hectares of land area.

Asean Heritage Parks

A member of the Association of Southeast Asian Nations (Asean), the Philippines boasts of having one of the most numbers of heritage parks in Southeast Asia. As of last year, it has a total of nine Asean Heritage Parks (AHPs)—all have unique features and importance, with their protection having more imperative to prevent biodiversity loss, and extinction of its critically endangered and endemic species of plant and animal wildlife. The AHP is a program being implemented by the Asean Centre for Biodiversity (ACB). They showcase the best of the best ecotourism sites and represent successful conservation ef-

forts of Asean member-countries. There are a total of 41 AHPs, five of which were designated as United Nations Educational, Scientific and Cultural Organization (Unesco) World Heritage Sites.

Ongoing program

ENVIRONMENT Assistant Secretary Ricardo L. Calderon, also the concurrent director of Department of Environment and Natural Resources-Biodiversity Management Bureau (BMB), said the designation of AHPs is an ongoing program of the DENR and the ACB. He said the DENR-BMB is eyeing more sites, including the Pasonanca Natural Park that straddles Zamboanga del Sur and Zamboanga del Norte, if it passes the criteria of the ACB. An AHP, he said, is a priority conservation area. “These areas are usually old national parks with high biodiversity, which needs special protection. These are the areas with very high biodiversity value,” Calderon said. “We are also looking for more areas that will involve [the collaboration of] two or three countries, and we are looking at the Turtle Islands Natural Park in Tawi-Tawi as a potential AHP,” he added. Calderon said that once an area is declared an AHP, it will initially get a P4-million budget for the operationalization of the protected area management. Protected areas in the Philippines undergo a strict management regime with a Protected A rea Ma nagement Boa rd involv ing var ious sta keholders or collaborators as the highest policy-making body.

Gene pools

Nine AHPs in the Philippines are getting their much-needed attention. The country’s AHPs are especially important as they help maintain the gene pool of its endemic species. They are: n Mounts Iglit-Baco Natural

World’s first in vitro cheetah cubs born at Ohio zoo

This undated photo provided by the Columbus Zoo and Aquarium shows two cheetah cubs. Ohio zoo officials announced last week that the two cheetah cubs have been born through in vitro fertilization and embryo transfer to a surrogate mother for the first time. Columbus Zoo and Aquarium via AP

OWELL, Ohio—Two cheetah cubs have been born through in vitro fertilization and embryo transfer to a surrogate mother for the first time, Ohio zoo officials announced last week. The male and female cubs were born to three-year-old Izzy at the Columbus Zoo and Aquarium on Wednesday, the zoo said in a statement. A team observed the births through a remote camera, and are continuing to monitor Izzy and the cubs. The biological mother of the cubs is six-yearold Kibibi, who has never reproduced and is too

old to easily become pregnant naturally. Kibibi’s eggs were extracted and then fertilized in a Columbus Zoo laboratory on November 19. The early stage embryos were implanted into Izzy on November 21, and an ultrasound revealed she was pregnant with two fetuses about a month later. Dr. Randy Junge, the zoo’s vice president of animal health, said this development could have broader implications for managing the species’ population in the future. It was the third time scientists had attempted the procedure and it was the first time it worked, according to zoo officials. AP

Hibok-hibok crater lake ACB

Park is home to the Philippine Tamaraw, or the Mindoro dwarf buffalo, which is endemic only to the island of Mindoro, meaning it could not be found anywhere else in the world. n Mount Kitanglad Range Natural Park is where the world’s biggest flower species, scientifically known as Raff lesia schadenbergiana, would be found, the same with the critically endangered Philippine eagle. n Mount Hamiguitan Range Wildlife Sanctuary is the habitat of a pygmy forest, Philippine eagle and a locally endemic pitcher plant, Nepenthes hamiguitanensis. n Mount Malindang Range Natural Park is home to rare and new records of Philippine mosses, and is a known natural habitat of endemic species of wild plants, such as dwarf bamboo and the Benguet pine, and wild species of birds, long-haired fruit bats, Philippine deer and giant bushy-tailed cloud rats. n Mount Makiling Forest Reserve in Laguna is home to large flying foxes Pteropus and Acerodon species. The endemic Luzon pygmy fruit bat (Otopteropus cartilagonodus) may be present at higher elevations of the mountain. n Tubbataha Reefs Natural Park, a Unesco World Heritage Site, is home to diverse species of corals and is teeming with marine wildlife. n Mou nt s Ti mp o ong a nd Hibok-Hibok Nat u ra l Monument, an important bird area, is home to two of the restrictedrange species of the Mindanao and Eastern Visayas Endemic Bird Area recorded on Camiguin

Island, including species and subspecies of the yellowish bulbul. n Agusan Marsh Wildlife Sanctuary, home to the 20-foot-long crocodile Lolong, the world’s largest saltwater crocodile ever to be caught alive, is also one of the most ecologically important wetlands in the Philippines. Lolong died some time after it was caught. n Mount Apo Natural Park is a key biodiversity area and home to over 272 bird species, with around 111 species known to be endemic to the Philippines. The protected area is also home to the critically endangered Philippine eagle.

resources,” she said. Today, she said it is a welcome development that protected areas are getting funds for the implementation of various protection and conservation programs. “I am pleased to hear that around P500 million [is provided] for the implementation of the Enipas [Expanded National Integrated Protected Areas System Act] and the effective management of the Phi lippines’s protected area system. Wit h this, the AHPs should have their dedicated share from the allocation,” she said.

Coping with the challenge

Stakeholder participation

The Philippines is coping with the enormous challenge of maintaining its AHPs, including the provision of resources and dedicated staff to ensure that they are effectively managed, ACB Executive Director Theresa Mundita S. Lim said. “AHPs, as with other protected areas in the Philippines, need resources and dedicated staff,” she said. In the past, Lim, who served as director of the DENR-BMB for 15 years prior to her post at ACB, said limited resources for biodiversity and protected areas has compelled the Philippines to prioritize the areas for government funding and come up with innovative ways for sustainably financing the remaining ones. “One criteria previously used to prioritize the [protected areas] is ‘those considered globally [Unesco heritage parks] and regionally important [AHPs]’ so that is more or less how the AHPs are allocated

According to Lim, one strength in the protected area management in the Philippines is the broad stakeholder participation in developing policies, and hence, decision-making at the site level. However, she said there is a need for more “ buy-in” from the local communities, indigenous peoples, and industries working with and/ or around the protected areas. “So that they, themselves, can initiate the protection measures for the protected areas, not because the laws say so, but because they know that a well-protected natural ecosystem benefits them,” she said. This means that there is a need to come up with ways for stakeholders to actively participate when it comes to implementation so that policies that are developed can be effectively enforced on the ground. “And not just because there are penalties if they violate the policies, but because they believe that

the policy will benefit them, so advocacy campaigns and capacity development are needed,” she added.

Mainstreaming biodiversity

Protected areas are under constant threats, but the more serious threat to managing them, Lim said, is the lack of deeper appreciation for the true value of the biodiversity, which the AHPs are intending to secure and protect through the “whole of government” and the “whole of society” approach. “It is for this reason that the ACB is pushing for the mainstreaming of biodiversity in the region, in every aspect imaginable,” she stressed. Other ser ious biod iversit y threats, such as natural calamities that require disaster mitigation and risk reduction; disease and pest control, natural pollination and propagation of commercially important or potentially valuable plants and trees, she said, needs integration in policies, plans, and actions of various sectors and institutions. “Once other sectors, such as business and finance, agriculture, tourism, infrastructure, energy, etc., as well as members of all branches of government, and the private sector recognize the importance and the benefits that can be provided by AHPs, then other threats may consequently be addressed,” she said. Other threats, like overexploitation, indiscriminate land and land-use conversion, and perverse incentives, can, likewise, be addressed once mainstreaming of biodiversity is institutionalized.

Asean-Swiss partnership on social forestry helps improve livelihoods

AKARTA—Throughout Southeast Asia, new laws introduced to support social forestry and a large-scale transfer of control over forests to nearby residents have had a profound impact. Transformative activities supported since 2011 by Asean-Swiss Partnership on Social Forestry and Climate Change helped lay the foundations for political, and institutional, change through technical support and activities in Asean member-states. The partnership was established to support Asean member-states, and facilitate regional-level coordination and knowledge-sharing on social forestry, in addition to people-oriented forestry, as a means to address climate change and achieve the UN Sustainable Development Goals (SDGs). It also ensured the participation of citizens, in particular forest-dependent communities and indigenous peoples, engaging them with the goal of helping to preserve the region’s extraordinarily biodiverse forests and improve livelihoods. The partnership provided policy advice, trained thousands of people, shared knowledge across the region, and supported the development of community enterprises and institutions at different levels. Partners included the Center for International Forestry Research, Non-Timber Forest ProductsExchange Programme, the Center for People and Forests, Southeast Asian Regional Center for Graduate Study and Research in Agriculture, and World Agroforestry. “ The par tnership collaborated with governments and stakeholders to establish social

forestry working groups, integrate social forestry curricula into the region’s universities, conduct training programs, action research and field demonstrations of sustainable forest management practices,” said Doris Capistrano, senior advisor to the partnership. “[It] also supported the development of certification schemes for local producers, festivals and markets for non-timber forest products,” Capistrano added. This work brought together people in governments, civil-society organizations, the private sector and communities, often for the first time, to hear each other’s opinions and understand the evidence presented by organizations involved in the partnership. “This, in turn, has led to widespread improvements in policies and practices across the region,” she said. Capistrano was speaking at the closing event of the partnership, held at the Asean Secretariat Building in Jakarta on February 25 and 26. Outcomes assisted by the partnership, and related national and international processes include: n Indonesia has issued new regulations on social forestry and customary forest tenure; n Myanmar and Thailand have passed new laws that provide more rights to local communities; n Vietnam revised its national forestry law to include farming in forests and forest farming, also known as agroforestry; and nOther countries, including Cambodia, are in the process of reviewing their own laws to

ensure that communities are more engaged with deciding on the use of the land they have managed for generations. It also facilitated the publication of the Asean Guidelines for Agroforestry Development and the Asean Guidelines for Sustainable Investment, the world’s first set of principles to guide practices throughout the entire region. It published a white paper on agroforestry for assisting governments’ planning; a set of Asean agroforestry policy briefs, dealing with specific types of agricultural systems that integrate trees into farms or allow better management of forests, including: a large amount of training on agroforestry, sustainable forest restoration, nontimber forest products; and manuals and curricula for agroforestry policy-makers and practitioners. A “forest harvest” collective mark and participatory guarantee system were introduced as alternative forms of certification that allow communities to engage new markets. It created national festivals and marketing tools for forest foods, fashions and non-timber products. At the same time, it analyzed opportunities for Asean member-states to benefit from the implementation of international programs, such as reducing emissions from deforestation and forest degradation. The political and institutional changes facilitated by the partnership have placed an additional 6 million hectares of forests in the hands of local communities, from 6.67 million hectares in 2011 to the current 13.8 million hectares.

I f Ca m b o d i a , I n d o n e s i a , M ya n m a r, Philippines, Thailand and Vietnam reach the targets they have set, the total forest area managed by local communities will exceed 20 million hectares by 2030. The benefits of such an increase extend far beyond meeting basic community needs. Social forestry has contributed to reducing levels of deforestation and illegal activities while increasing people’s resilience to climate change and improving livelihoods. Social forestry has reduced the cost for Asean member-states of achieving targets for climate-change mitigation and adaptation and the SDG. But there are still challenges at the political and institutional level that need to be addressed, including implementing new laws and ensuring that land tenure is secure for communities across Asean. Tenure, the conditions under which people can occupy or use land and forests, is still unclear in many countries. Tenure arrangements affect the expansion and effective implementation of social forestry. However, the expansion of social forestry seen in the last nine years is creating opportunities for tenure reform. By addressing these issues, countries can create a supporting environment that enables communities to participate fully. It will bring benefits for local livelihoods that also contribute to national development goals and, in turn, support global action on the climate emergency.

B6 Monday, March 2, 2020

The first UAP Media Forum kicked off via 'Kapihan ng Arkitekto'

HE first UAP Media Forum, initiated by the Office of the National President, was held on February 18 at the 6th Floor of the UAP National Headquarters Building in Quezon City. Dubbed as "Kapihan ng Arkitekto", this serves as a monthly gathering of the United Architects of the Philippines officers and brand partners with various media practitioners representing print, broadcast, and digital media covering the builds and design beat. It aims to engage the media in discussions about the state of

Philippine architecture and the issues that concern builds and design in the country. In line with the #GetAnArchitect advocacy campaign of the current leadership, UAP National President Benjamin Panganiban, Jr. said that the intents of this forum are to promote UAP’s campaign on promoting the architecture profession through engaging conversation with the media, regularly update the media on its current campaign and CSR Programs and tackle the pressing issues UAP want to shed light on, build friendly ties with the media and open

opportunities on future collaboration, for UAP to be recognized by media practitioners and entities as top-ofthe-mind source of information for concerns about Philippine architecture and other issues such as buildings and design that are relevant to Filipino public, and to introduce UAP brand partners to the media. The advocacy program was designed as long-term effort of the UAP to develop diverse initiatives to promote the architecture profession, highlight the spirit of our profession in an informative and memorable way and encourage the public to advocate for safer, healthier, accessible homes, businesses, and communities. Panganiban stressed that #GetAnArchitect came into fruition to seek out opportunities to engage and communicate with the public and stakeholders and teach them how we work with them, design solutions, transform communities, and strengthen society. The advocacy campaign was honored in the recent ANG Susi Awards 2019 by the Philippine Council of Associations and Associations Executives in 2019.

Summer has come early with Greenwich’s new Hawaiian BBQ overload

REENWICH, the number one pizza and pasta chain in the country, has unveiled the Hawaiian BBQ Overload – a new limited time offer pizza flavor that will blissfully remind you of warm, trouble-free tropical days spent idly with your closest barkada. The Hawaiian BBQ Overload is another mouthwatering way of enjoying Greenwich’s best-selling Hawaiian Overload, that is truly pinya-sweet and pinya-sarap all-year round. Everyone’s soon-to-be-craved-for pizza flavor is generously drizzled with Greenwich’s tangy and tasty barbecue sauce, sprinkled with Pik-Nik Shoestring Potatoes for an even more perfect bite. “What everyone will love about our new Hawaiian BBQ Overload is the complementary yet unexpected blend of textures and flavors. Much like summer itself, the toppings of the Hawaiian BBQ Overload give a sense of fun, adventure, lightness, sweetness, and good vibes,” said Pam Reyes, marketing head of Greenwich, during its official media launch at Greenwich’s Barkada BBQ Blowout at Le Reve in Quezon City. The new variant’s refreshing taste is intriguing enough for pizza lovers to keep craving for more. “The perfect blend of sweetness, tanginess and crunchiness of the Hawaiian BBQ Overload will surely

capture the hearts and taste buds of pizza lovers like me. It’s summer on a pizza with a twist,” said Greenwich kabarkada Robi Domingo. Savor the fun and lightness of summer as early as now with the new Hawaiian BBQ Overload – for a limited time only! Load up on summer feels for as low as Php 99 for a 6” solo pizza. Get your Hawaiian BBQ Overload good vibe fix in all Greenwich stores nationwide, visit greenwichdelivery.com or call #555-55 starting February 3. Grab it while it’s hot and here!

An enriching campus life at PWU

CENTURY ago seven women had a dream. Their vision was to prepare young women for leadership and service, successfully combining homemaking and career. Today, this time, women together with men are exposed to a holistic education one with quality and integrity. This being university month,

the flurry of activities at the PWU campuses in Taft Avenue, Indiana and Quezon City, will also include the installation of its 10th president, Marco Alfredo Benitez, the culmination of the centennial year celebration and the dramatic turn towards the next century. The Homecoming celebrated at the Fiesta Pavilion of the Manila Hotel

showcased some dramatic highlights in the life of the University presented in songs and dances. While the focus is trained to this big event, campus life has never been this enriching. Just this week, O my G (a grow your own herbs and veggies club) opened its club doors to more members with the blessings of the new university president. Its adviser is Pwu faculty and core performing artist of Bayanihan Pam Corales. The ongoing book club search for new members, headed by Petra Elepano, also PWU faculty and core artist of Bayanihan went on open critiquing and debate sessions attended by other members of the PWU community. This and many more from sports, dance, art exhibitions, outreach projects through Project Pag ibig, musical concerts, sessions on wellness and cross cultural exposures are handed on a silver platter right at the PWU campus.

Chevron enhances disaster preparedness of host community with donation of mobile patrol and smartphones

N a partnership that started in 1954 with the inauguration of the country’s first oil refinery, Chevron Philippines Inc. (CPI) further strengthened its cooperation with its host community in Bgy. Danglayan from San Pascual, Batangas with a donation of a mobile patrol pickup truck and smartphones as communication devices. The donation will enhance the barangay council in responding to disasters, natural, and man-made calamities as the coastal village is near Batangas Bay and Taal Volcano. The barangay hall is currently sheltering around 85 families who evacuated from nearby Agoncillo due to the eruption of Taal Volcano.

CPI, which markets the Caltex brand of fuels and lubricants, is very active in doing social investment projects in San Pascual, Batangas particularly in host barangays such as Danglayan, Poblacion, and San Antonio with projects such as literacy drives, safety awareness,

free livelihood trainings, health consciousness, clean water access, road safety, and environmental conservation. The terminal has transformed San Pascual into a first-class municipality with bustling industries in shipping and energy.

Learn the 26 ways to do business with the government

ROFIT and take advantage from the government’s renewed thrusts on PublicPrivate Partnerships (PPP) by understanding the 26 different ways to structure your PPPs, hybrid PPPs or G2G transactions with the government, the relevant laws, policies, and procedures. To capture the opportunities and take full advantage of the new PPP projects, the Center for Global Best Practices, in collaboration with the Philippine Institute of Environmental Planning

(PIEP) and PIEP-SOCCSKSARGEN Chapter will host a program entitled, “Duterte Government’s Revised PPP Programs” March 5, 2020 at the Greenleaf Hotel, General Santos City, Philippines. This program is designed for attendees to learn the new regulations on how to do business with the government and how the government can do business with the private sector by understanding the PPP definitions, 26 PPP modalities, value drivers, relevant laws, policies,

procedures and more. Learn from the Father of Philippine PPPs, Atty. Alberto C. Agra. He is a Certified PPP Specialist and Certified Regulation Specialist. He has done over 300 lectures on PPPs and his PPP template has been adopted by the DILG and numerous LGUs. He is a professor of laws and a bar reviewer at the Ateneo Law School , and co-author of “Knowing BOT and JV: A Legal Ordinance”. Currently, he is the Chairman of the Board of the Philippine Reclamation Authority.

CLOSE WATCH ON OUTBREAK Sports

FANS watch the Chicago Cubs play the Milwaukee Brewers during a spring training game on Saturday in Mesa, Arizona. AP

BusinessMirror

| Monday, March 2, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Stephen Whyno

The Associated Press

AJOR North American professional sports leagues are talking to health officials and informing teams about the coronavirus outbreak that has led to the first reported death in the US. Officials from the National Basketball Association (NBA), National Hockey League (NHL) and Major League Baseball (MLB) say they are all consulting with the Centers for Disease Control and Prevention and other organizations on a regular basis about coronavirus disease 2019 (COVID-19). Washington state reported Saturday that a man in his 50s died from the virus. There are no immediate plans to cancel or postpone games, or have them held in empty stadiums or arenas. Some of those contingencies have been taken in other countries, including Italy, where soccer matches were postponed until May. Pro sports in the US for now are going on as scheduled, though leagues are closely monitoring the situation. The NBA and NHL are in their regular seasons and MLB in spring training in Arizona and Florida with Opening Day less than a month way. “The health and safety of our employees, teams, players and fans is paramount,” the NBA said in a statement. “We are coordinating with our teams and consulting with the CDC [Centers for Disease Control and Prevention] and infectious disease specialists on the coronavirus and continue to monitor the situation closely.” The new virus that first emerged in China in December has infected more than 85,000 people and caused more than 2,900 deaths. There have been 62 reported cases in the US, compared to 1,128 in Italy. The NHL, which has seven teams based in Canada, is in contact with personnel from the CDC and Public Health Canada. Deputy Commissioner Bill Daly said by e-mail the NHL has not considered any cancellations.

“We are in regular communication with our clubs on the issue and have passed along best practices being recommended by CDC and Public Health Canada medical experts,” Daly said. “Most of these steps are common sense precautions, but there definitely involves consciousness raising.” An NHL spokesman added the league “will implement all necessary safety measures as required.” Teams have been getting information from the league about COVID-19 since late January. MLB has also been actively monitoring the outbreak for some time, and been in touch with the CDC and Health and Human Services. It is providing guidance to clubs, staff members and players that are mirror CDC recommendations. Churchill Downs is using the time left before the Kentucky Derby in early May to watch as the situation develops before hosting horse racing’s biggest event. “We still have a great deal of time to monitor and react,”Churchill Downs said in a statement. “We also will learn from others as they hold events over the next number of weeks. We are consulting with relevant authorities and will take any, and all, necessary steps to ensure the safety of all who attend and participate.”

BEIJING 2022 ORGANIZERS ON TRACK

ORGANIZERS of the 2022 Beijing Winter Olympic Games say they are on track to complete all competition venues by year-end and have teams in place for test events, despite the devastating impact of the COVID-19 outbreak that originated in the country late last year. The pledge was made by Beijing Vice Mayor Zhang Jiandong to participants in last week’s World Broadcaster Meeting for the games that was relocated to Madrid because of the outbreak. Zhang and other organizers participated online from committee headquarters in Beijing. “We will try our best to push forward the preparations for Beijing 2022 amid the fight against the virus, and make sure the preparations are done in time and up to standard,” Zhang, who is

also executive vice president of Beijing 2022, was quoted as saying in a news release from the Beijing committee. Questions have arisen about whether this year’s Tokyo Olympic Games, set to open on July 24, can proceed, although Japan has taken extensive measures to curb the spread of the virus. Japanese Prime Minister Shinzo Abe said at a news conference Saturday that Japan is at critical juncture to determine whether the country can keep the outbreak under control ahead of the Tokyo Summer Olympics. With new virus cases falling to around 500 or less daily, China has sought to slowly get its economy back on track by offering loans, tax breaks and other incentives. Strict travel restrictions remain, however, and a host of cultural and sports events have been canceled, while school openings and the holding of the ceremonial legislature’s annual session have been postponed indefinitely. The outbreak is expected to further slow an economy already growing at its lowest level in three decades. China has recorded almost 80,000 cases of the virus that causes the disease COVID-19, by far the most of any country. Beijing won the right to host the 2022 amid light competition, despite questions about a lack of natural snow, pollution and scarce water resources. That came largely on the back of its successful track record of hosting the 2008 Summer Games and its ability to reuse many of the venues from that earlier event, pushing down the cost of the games. Organizers told participants last week that the Genting Snow Park in the Zhangjiakou competition zone, where the snowboard parallel giant slalom, snowboard slopestyle and snowboard halfpipe events will be held, is already in use, while the National Alpine Ski Center in the suburban Yanqing competition zone is ready for test events. Yanqing will also host the sliding events and Zhangjiakou, in the neighboring province of Hebei, will host ski jumping and other outdoor events. Indoor events, such as speed skating, curling and hockey, are to be held in downtown Beijing.

Galen Rupp runs to the finish line to win the US Olympic marathon trials. AP

Tokyo Marathon limited to elite runners over virus fears

Elite runners start their race at the Tokyo Marathon on Sunday with the general public essentially barred from the race. AP

OKYO—Birhanu Legese of Ethiopia won Sunday’s Tokyo Marathon, a race that was scaled back as part of Japan’s efforts to combat the spread of the coronavirus. Legese crossed the finish line with a time of two hours, four minutes and 15 seconds; 34 seconds ahead of Belgium’s Bashir Abdi. Sunday’s race was expected to have 38,000 participants but was limited to elite runners due to concerns over the

outbreak of the virus in Japan. The race, which doubles up as an Olympic trial for Japanese marathon runners, was limited to just over 200 participants. The Tokyo Marathon is one of the biggest sporting events to be affected by the coronavirus. Authorities in Japan have canceled or postponed various other sporting events over concerns of spreading the virus.

Some spectators lined the streets of the Japanese capital but there were far fewer people watching than in past years. The government has asked people not to gather in large crowds. Japan’s domestic soccer league has canceled games through the first half of March while Japanese baseball teams are playing exhibition games ahead of the regular season at empty stadiums. With Tokyo set to host the 2020 Olympics, Japan has taken

extensive steps in a bid to halt the spread of the outbreak. Tokyo organizers and the International Olympic Committee have repeatedly said the Tokyo Games will go ahead as scheduled and that they are following the advice of the World Health Organization. The Olympics, which start on July 24, are set to gather 11,000 athletes in Tokyo, followed by the Paralympics beginning August 25 with 4,000 athletes.AP

Rupp wins second straight US Olympic marathon trials

TLANTA—Galen Rupp, Aliphine Tuliamuk and America’s other top distance runners have claimed their spots on the US Olympic marathon team. That’s only half the battle. Now they have to wait to see if the Tokyo Games will be held. Rupp reclaimed his status as the nation’s top distance runner Saturday, winning his second straight US marathon trials and earning a spot for an Olympics shadowed by a global virus. “I’ve always been someone who says you can control what you can control,” Rupp said, adding the impact of the coronavirus on the Olympics is “a decision that’s way above myself. “I’ll let the proper authorities or governing bodies deal with that when it comes. Right now I think all of us are just really excited to make the team and be representing Team USA,” he added. The trials were run amid the uncertainty about the Olympics. International Olympic Committee (IOC) member Dick Pound said this week there is a window of two to three months to decide if conditions are too dangerous to hold the Olympics in Tokyo. Rupp pulled away in the final miles for a dominant victory. Carrying a US flag in his right hand, Rupp was all alone as he crossed the finish line, almost 43 seconds ahead of Jacob Riley. Abdi Abdirahman also earned a spot on the US team by finishing third. Tuliamuk edged Molly Seidel by seven seconds in the closest women’s finish in the trials. Seidel became the first woman to make the US Olympics team while running in her first marathon. Sally Kipyego was third. Tuliamuk and Kipyego are from Kenya and have become US citizens. Kipyego won the silver medal in the 10,000-meters in 2012 for Kenya. “It’s incredible, I feel relief almost more than anything,” said Rupp, who completed his comeback from heel surgery. Rupp, Riley and Abdirahman wore versions of Nike’s shoes featuring carbon-fiber plates for more spring and propulsion. As some have criticized the shoes for providing an unfair advantage, other manufacturers have rushed out new shoes with similar technology. “I would prefer not to think that my presence on this team is due to having a better shoe,” Riley said. “I would think it’s my training and I know I’m coming into this in better shape than I ever have. “Also I don’t think it is the huge performance advantage it is being made out to be, but I also think there’s no question that plated shoes are changing the face of the game. ” Added Rupp: “You can’t just put those shoes on anybody and it turns them into Superman.” The 33-year-old Rupp qualified for his fourth Olympics with a winning time of 2:09:20. He won the bronze medal in the marathon at the 2016 Rio Games. Rupp had not completed a marathon since 2018, thanks to heel surgery. Rupp earned the win with his new coach, Mike Smith, after former Coach Alberto Salazar received a four-year doping ban in 2019. He’s only the second man, after Frank Shorter in 1972 and 1976, to win two US trials. Shorter tied for the 1972 win with Kenny Moore. Riley is a first-time Olympian. The 43-year-old Abdirahman became a five-time Olympian and the oldest man to make the US marathon team. He finished third in the 2012 trials but missed the 2016 trials with a calf injury. AP

Spo

Business

C2 Monday, March 2, 2020

A WINNER? NOT ANYMORE! By Paul Newberry

The Associated Press

HIS time, the hammer dropped on Sun Yang. Long the target of anti-doping crusaders, the Chinese swimming star received a stunning eight-year ban from a Swiss court—the maximum penalty and one that effectively ends the 28-year-old’s career—for a vial-smashing encounter with drug testers. While the ruling Friday seems a bit excessive, it figures to send a much-needed message to others who would try to enhance their performance through illicit means with the Tokyo Olympics less than five months away. It was cheered by rival swimmers, who have griped for years that world governing body Fina kept looking the other way when it came to punishing a high-profile athlete in one of its key markets. “I fully respect and support the decision,” said Britain’s Duncan Scott, one of two swimmers who refused to share the medal podium with Sun at last year’s world championships in South Korea. “I believe in clean sport and a level playing field for all athletes.” South African star Chad le Clos, who finished second to Sun in the 200-meter freestyle at the 2016 Rio Olympics, welcomed the ruling but said it came far too late to help those who may have been cheated out of their rightful place in the sport—himself included. “There’s a snowball effect,” le Clos said in an interview with CNN. “At the end of the day, you’re killing generations of swimmers by not punishing these drug cheats.” Le Clos believes he deserves the gold medal from 2016, but added that he really feels for swimmers, such as Britain’s James Guy, who finished fourth in the Rio Final to just miss out on a medal. “If James Guy had gotten bronze and a

HOENIX—The Golden State Warriors came into Saturday night’s game with eight healthy players, zero true point guards and an eight-game losing streak that had lasted for nearly the entire month of February. Yet somehow, the team with the worst record in the National Basketball Association (NBA) left Phoenix with a 115-99 victory. “The joy in that locker room right now, the relief, everybody’s smiling and, happy and excited,” Warriors Coach Steve Kerr said. “Our team’s played hard all year and competed, but at times has been out-manned. So every win becomes sweeter.” Eric Paschall led the Warriors

podium, it could’ve changed his life,” le Clos said. No one comes out of this whole sordid affair looking worse than Fina, the inept overseer of the sport. For years, it worked overtime to ensure that Sun never faced the full wrath of anti-doping rules. Back in 2014, Sun served a three-month ban after testing positive for a stimulant that was banned at the time. The ridiculously light penalty, imposed by Chinese authorities, was not even announced until after it ended. Sun didn’t miss any major meets, and Fina went right along with that travesty of justice. Then, in September 2018, drug testers turned up at Sun’s home in the early morning hours to collect a blood sample. The swimmer and his handlers questioned whether the testers had the proper credentials. A brouhaha erupted, leading Sun’s mother to instruct a security guard to smash the vial with a hammer, thereby, rendering it useless for testing. Fina, again showing its loyalty to Sun and even more to those millions of dollars he helps generate as one of China’s most popular athletes, tried to sweep to whole incident under the rug with a warning—a decision that was beyond outrageous for a swimmer who already had a doping violation on his record. Sun was allowed to compete at the 2019 worlds, where he won gold medals in the 200 and 400 freestyle but faced strong push-back from his rivals. Australia’s Mack Horton, runner-up in the 400, refused to take the medal stand alongside Sun. Scott did the same after tying for the bronze in the 200, leading to a dramatic confrontation with Sun as they walked away from the podium. “You loser,” Sun said defiantly, pointing a finger at Scott. “I’m winner.” While Sun criticized the podium protests as disrespectful to his country, many athletes came to the defense of those who took the bold step of

WESTBROOK ERUPTS WITH 41 FOR ROCKETS

OSTON—The Boston Celtics managed to shut down the National Basketball Association’s (NBA) leading scorer for most of the second half and overtime. Just one problem. “We had a lot of attention on James Harden.” Celtics guard Jaylen Brown said, “and we forgot about the other MVP over there.” Russell Westbrook scored 41 points and Harden had 21, including a pair of free throws with 25 seconds left in overtime to give the Houston Rockets a 111-110 victory on Saturday night. Boston rallied from a four-point deficit in the final 20 seconds of regulation and sent the game to overtime on Brown’s three-pointer at the buzzer after an intentionally missed free throw. The Celtics scored the first basket of the extra period and led 110-109 but did not score in the final 2:49 of the game, missing their last six shots. Harden, who averages almost 35 points, was held to nine points on 3-for-12 shooting over the final 29 minutes, going scoreless for all of the fourth quarter. Westbrook also had eight rebounds and five assists, scoring 18 in the

Warriors break eight-game skid with 25 points on 10 of 16 shooting from the field. Damion Lee added 20. Golden State trailed for most of the game but went on a 16-0 late in the third quarter and had a 92-81 lead going into the fourth quarter. Seven Warriors had at least 10 points, including Andrew Wiggins, who added 17 points,

Fleetwood ahead going into final round of Honda Classic ALM BEACH GARDENS, Florida—Tommy Fleetwood has won in Scotland, England, the United Arab Emirates, France, South Africa, even Kazakhstan. Victory in the United States hasn’t happened yet. The Englishman is in position to change that Sunday. Fleetwood birdied four of his final six holes on the way to a three-under 67 in the third round of The Honda Classic on Saturday, moving to five under for the week and one shot ahead of Brendan Steele at Professional Golfers’ Association (PGA) National. Fleetwood, ranked No. 12 in the world, has been close to getting that elusive win on US soil with two runner-up finishes. “If you’re going to win around here, you’ve proven yourself as an all-around golfer,” Fleetwood said. “Realistically, yeah, it probably is another step in my career. I’m not going to lie and say, ‘Ah, I don’t really mind about winning in America.’ Of course, I do. I want to win everywhere I play and the PGA Tour is for sure one of those places where I haven’t done it yet.” Steele shot 71. He was alone on the lead through 36 holes at five under, birdied two of his first three on Saturday to get to seven under and then made four bogeys in an eight-hole span. But he survived, which was the order of the day for the leaders. “It feels like a major championship toughness-wise,” said Daniel Berger, who is three shots back. Fleetwood rolled in a birdie from nearly 50

THIS time, it’s Sun Yang’s career and legacy that are smashed. AP

not stepping up. “I don’t think anyone at Fina is going to stand up for the athletes, so the athletes have to stand up for themselves,” said American breaststroke champion Lilly King, who outspokenly complained about having to compete at the 2016 Olympics against Russian swimmer Yulia Efimova, who had previously served a 16-month ban for doping. Le Clos said all of Sun’s results since 2014 should be scrutinized—and perhaps stripped— but the Swiss-based Court of Arbitration for Sport declined to go that far in its ruling. It’s clear that Fina has no intention of taking away any of Sun’s titles, though at the very least he shouldn’t be allowed to keep his two golds from last year’s worlds. Sun had no business even being allowed to compete at the biggest swimming event outside of the Olympics. The fact that he tested clean during the competition is a moot point. Sun vowed to appeal the eight-year ban to Switzerland’s supreme court, but he has little chance of getting it overturned. The high court can only consider narrow procedural grounds, and three other federal appeals by Sun’s lawyers have already been dismissed. We can all be thankful that another appeal did pay off. It was the World Anti-Doping Agency that stepped in to challenge Fina’s decision to merely issue a warning against Sun, leading to a rare public hearing before CAS. The 10-hour proceeding, conducted in November, showed Sun being evasive at times and was hampered by major translation issues between Chinese and English. Finally, the three-judge panel delivered its own hammer blow with a unanimous decision Friday. This time, it was Sun’s career and legacy that were smashed. A winner? Not anymore.

feet on the par-three 17th to highlight his big finish. But he thought his two most important shots on Saturday were putts that dropped on the 10th and 15th holes. And both were for bogey. Let that speak for how challenging PGA National was—yet again. Of the 69 players who made the cut, only 11 broke par on Saturday. Fleetwood’s 67 was the second-best round of the day; Mackenzie Hughes, who made the cut on the number Friday, shot a four-under 66 on Saturday and went from tied for 59th to start the day to tied for eighth with 18 holes left. Fleetwood’s score of five under is the highest by any leader through 54 holes since the Honda moved to PGA National. “It’s just a strong test of your all-around game,” Fleetwood said. Luke Donald birdied the last to finish a 71 and get to three under for the week, two shots off the lead. Lee Westwood (71) was tied with Donald going into the final round, surviving an up-and-down day where he birdied two of his first three holes—and then made just one more in the last 15 holes. AP

TOMMY FLEETWOOD is in a position to nail his first title in the US. AP

seven rebounds and five assists. “I just loved the way we competed,” Kerr said. “We had eight guys and all eight really contributed, brought energy, brought enthusiasm. I thought we had a lot of really good individual performances, but more than anything, everybody competed for each other, defended like crazy. “Really fun night. Huge relief.” Mychal Mulder, who was playing in just his second NBA game, had 14 points and grabbed six rebounds. Former Suns player Dragan Bender had a season-high 13 points and eight rebounds. AP

second half and three more in overtime. “This is his first year as a Rocket. It’s going to take some time and he’s finally there,” Harden said. “You can have the confidence but not the ability. But he has both and that’s what makes him so special.” Robert Covington added 16 points and 16 rebounds for the Rockets, who have won six straight, and 10 of their last 12 while beating Boston five times in a row. Jayson Tatum had 32 points and 13 rebounds, Marcus Smart scored 26 points and Brown had 22 for the Celtics. Daniel Theis had 15 rebounds for Boston, the last in the final seconds of overtime to set up a short baseline jumper that was released after the buzzer before harmlessly swishing through the net. The Celtics had won 14 of their previous 17 games and could have moved into a tie with Toronto atop the Atlantic Division with a win. “I thought the right team won,” Celtics Coach Brad Stevens said. “I thought they were better than us—not by much, but at least by one.” Boston led by as many as 17 in the first half, but the Rockets scored 13 straight points near the beginning of the second to take their first lead of the game 66-64. Boston missed nine straight shots into the fourth quarter and still trailed 102-98 after Westbrook hit one of two free throws with 19 seconds left. Smart leaned in for a three-pointer to make it a one-point game, but Westbrook got away on the fast break and Theis reached out to grab him; they had to go to a replay to determine that it wasn’t a clear path foul. The Houston guard hit both free throws to make it 104-101 with 8.1 seconds left in regulation. The Rockets sent Tatum to the line, where he missed the first free throw. He intentionally banged the second off the front of the rim, Smart deflected the ball and Brown grabbed it at the top of the key before hitting the tying 3-pointer at the buzzer to send the game to overtime, tied 104-all. AP

More MLB players available for Tokyo Olympic qualifiers

RUSSELL WESTBROOK explodes when his rivals are watching someone else. AP

Djokovic defeats Tsitsipas, rules Dubai Championships for 5th time

UBAI, United Arab Emirates— After saving match points to reach the final, top-ranked Novak Djokovic was scarcely troubled as he beat Stefanos Tsitsipas, 6-3, 6-4, on Saturday to win the Dubai Championships for the fifth time. The 17-time Grand Slam champion maintained his unbeaten start to the year, having won the inaugural Association of Tennis Professionals Cup with Serbia, and clinching a record-extending eighth Australian Open title. Djokovic’s 79th career title moves him five behind Rafael Nadal, who was playing in the Mexican Open final in Acapulco against American Taylor Fritz. But Djokovic almost went out on Friday. He was pushed hard by Gaël Monfils in the semifinals, saving three match points before improving to 17-0 against the hard-hitting but inconsistent French veteran. This time, Djokovic was mostly in control. Although he dropped his serve once, he converted all three break points against the 21-year-old Greek to move 3-2 ahead in their career meetings. “I’m trying to embrace the moment and appreciate where I am,” the 32-year-old Djokovic said. “This has been one of the best starts of all the seasons I had in my career. I feel great on the court. I’ve been playing great tennis on the hard

courts. That is my most successful and preferred surface.” Only 20-time Grand Slam champion Roger Federer, who is recovering from a knee operation, has beaten Djokovic in the Dubai final—in 2015. Djokovic has an 18th major in his sights at the French Open later this year, and his emphatic start to 2020 marks him out as a serious challenger to Nadal at Roland Garros. “I’m just grateful that I’m playing well, feeling well,” Djokovic said. “I try not to think about predictions.” The second-seeded Tsitsipas lost in last year’s final to Federer. Here he missed out on a second straight title—and sixth of his career—after clinching the Open 13 in Marseille last weekend without dropping a set. “It’s disappointing trying so hard and not really getting the final result that you want,” the sixth-ranked Tsitsipas said. “For sure, I would love to see myself holding that trophy.” In Doha, Aryna Sabalenka of Belarus won the sixth title of her career with a 6-3, 6-3 victory over Petra Kvitova in the Qatar Open final on Saturday. The 21-year-old Sabalenka needed less than 75 minutes to complete the win, sending down seven aces and hitting 21 winners in clinching her third title in six months—after those in Wuhan and Zhuhai. Sabalenka sealed the first set with an ace, and survived five break points against the twotime Wimbledon champion in the fourth game of the second set. AP THE 17-time Grand Slam champion Novak Djokovic maintains his unbeaten start to the year. AP

EW YORK—The US may get some better players for its second attempt to qualify for the Olympic baseball tournament. Major League Baseball (MLB) and the players’ association agreed to make players not likely to be on 26-man major league rosters available for the Americas qualifying tournament, to be played in Arizona from March 22 to 26. When the US stumbled in its first chance to qualify, at the Premier12 tournament in November, only players not on 40-man big league rosters were eligible for selection and the 28 Americans at the Premier12 combined for a career 2.1 Wins Above Replacement, according to Baseball Reference. The change makes the roster rule similar to the one in place the last time baseball was included in the Olympics and could also benefit other nations with players under contract to big league organizations. For the 2008 Games in Beijing, players were eligible if they were not on 25-man big league rosters as of June 26—about seven weeks before the August 13 Olympic opener. The timing of the Americas qualifying tournament makes player selection difficult. Nations must submit 26-man rosters on March 11 and can make changes through March 20. The MLB season does not start until March 26, so some clubs will not have made final roster decisions. The US was three outs from qualifying last November at the Premier12. Matt Clark hit a tying home run of former St. Louis pitcher Brandon Dickson leading off the bottom of the ninth inning, Efren Navarro had a broken-bat single against Caleb Thielbar to drive in the winning run in the 10th and Mexico beat the Americans, 3-2. At the Americas tournament, the US opens against Nicaragua on March 22 at Surprise, plays the Dominican Republic the following day at Tempe and finishes Group B against Puerto Rico on March 24 in Surprise. Canada, Colombia, Cuba and Venezuela are in Group A. The top 2 teams in each group advance to a super round, with head-to-head group results carrying over. The super round winner joins host Japan, Israel, Mexico and South Korea in the six-nation Olympic field. The second- and third-place nations advance to a final qualifying tournament from April 1 to 5 in Taiwan, joining a field that will include Australia, China, the Netherlands and Taiwan. AP

orts

sMirror

Monday, March 2, 2020

RISING NET STAR EALA LEADS TONY SIDDAYAO AWARDEES

ISING tennis star Alex Eala leads a compact list of young, promising athletes who will have their share of centerstage in the coming San Miguel Corp.-Philippine Sportswriters Association Annual Awards. The 14-year-old Eala, along with nine others, are the recipients of the 2019 Tony Siddayao Awards during the March 6 gala night at the Centennial Hall of the Manila Hotel. The award, named after the late former Manila Standard sports editor Antonio “Tony” Siddayao and considered as the Dean of Philippine sportswriting, is given to young and emerging athletes 17 and below who excelled in their respective fields. Eala exactly embodies the award especially in a year that saw her finish in the top 10 of the world junior rankings. Following her maiden grand slam title after winning the Australian Open girls doubles tournament along with partner Priska Madelyn Nugroho, the Filipina wonder is now ranked No. 4 in the world. Bemedaled age-group swimmers Micaela Jasmine Mojdeh and Marc Bryant Dula share the honor with Eala in the special annual event staged by the country’s oldest media organization headed by Tito Talao, sports editor of the Manila Bulletin, and presented by the Philippine Sports Commission, Milo, Cignal TV, Philippine Basketball Association, AirAsia and Rain or Shine. Completing the Siddayao awardees are bowling’s Dale Lazo and Jordan Dinham,

karatedo’s Juan Miguel Sebastian, golf’s Celine Abalos, Woman FIDE Master Antonella Racasa, powerlifting’s Jessa Mae Tabuan, and Eala’s older brother Michael Eala. Two former Philippine Basketball Association (PBA) team owners, including a founding member of the league, will be remembered with a posthumous recognition on awards night. The late billionaire and philanthropist John Gokongwei Jr. and Lucio “Bong” Tan Jr. are on top of the list of 15 dearly departed sports personalities who are going to be honored with a short video and a prayer. Gokongwei, 93, owned the then CFC Corp. (now Universal Robina Corp.) franchise which was one of the founding members of the PBA in 1975. The team played under the brands Presto, N-Rich, Great Taste and Tivoli, winning six championships in 17 years with the league. Tan, 53, was the passionate, basketballloving owner of the Tanduay franchise when it made its PBA comeback in 1999. Also to be remembered are former national team standouts and sports officials Claro Pellosis, Florendo Ritualo Sr., Susan Papa, Angelo Constantino, Rafael Poliquit, Mark Joseph, Nes Pamilar, VicVic Villavicencio, Reggie Santos, Emmanuel Tangkion, Miguel Bonalos, Sheryl Reyes and Amber Garcia Torres.

DEL MONTE FOUNDERS CHAMP R

aul Miñoza fired a tournament-best 54 points to power Del Monte Golf Club to the Founders division title at the close of the 34th Philippine Airlines Senior Interclub golf team championships on Saturday in Bacolod City. Miñoza, younger brother of the legendary Frankie, made four birdies against the same number of bogeys at the Negros Occidental Golf

and Country Club (formerly Marapara). Florencio Badelic and Erning Apas added 42 and 41, respectively, as the Bukidnon-based squad closed out with 137 for 548 overall. Twenty-four points behind was Eagle Ridge which finished with 136 behind Danilo Cruz (51), Dong-hee Kim (44) and Tony Mendoza (41). The Orchard, led by Jock Stacey’s 47, placed third with 126-519.

YOUNG GUNS AIMING HIGH

Ira Alido (below) and Keanu Jahns want to make their mark in The Country Club Invitational.

ra Alido and Keanu Jahns, two of the Philippine Golf Tour’s (PGT) emerging stars, aim high in The Country Club Invitational motivated by Koreans Micah Shin and Kim Joo Hyung’s escape acts in the last two editions of the circuit’s highlight event at the TCC course in Laguna. The P5-million event reels off Wednesday (March 4) with a select cast made up of the top 30 players in last year’s PGT Order of Merit ranking all geared up for four days of battle, including Alido and Jahns, both due for a big finish following impressive campaigns last year. Alido has posted a number of top-5 finish to finish No. 6 in the OOM derby; while Jahns also had a

In the Aviator class, Villamor scored 121 points at the Bacolod Golf Club to finish the 72-hole event with 502, 14 points ahead of Sherwood Hills. The other division winners were Van City Team 1 in the Sportswriter and Bacolod Golf Club in the Friendship.

couple of runner-up finishes, including here where he lost by one to Kim, who humbled the country’s top players to become the young winner of the Philippines’s richest championship outside of the Philippine Open at 17. Kim’s triumph likewise kept the TCC crown at the hands of the young Koreans following the then 21-yearold Shin’s similar one-stroke victory over Miguel Tabuena in 2018. The same tight,

DEL MONTE received the Founder’s trophy from Russell Jao (left), Philippine Airlines chief advisor to the Chairman; Bonifacio Sam (right), president of PAL Express. The squad is composed of Raul Miñoza, Ramon Velez, Arsenio Mondilla, Romeo Bautista, Antonio Arancon, Virgilio Adag, Erning Apas and Arsenio Badelic.

thrilling finish is again expected this week with Alido, 18, and Jahns, 23, hoping to put themselves into the early mix to get a crack at the championship in the event put up by the International Container Terminal Services Inc. (ICTSI) President and Chairman Ricky Razon to honor the memory of his father and ICTSI founder Don Pocholo. But the duo will be as much tested as the rest of the field with Tony Lascuña and Frankie Miñoza shooting for their second TCC Invitational crown in the absence of a slew of former champions, including Angelo Que, Tabuena, Shin and Kim, vying in Malaysia also this week. Lascuña, back in top form after a two-year slump, first and last won in 2004, barely nailing a second with a one-shot loss to Cassius Casas in 2014, making him hungry for a TCC crown. Miñoza, meanwhile, reigned in 2013 but the Del Monte legend has had not much success since. But back from a six-month hiatus, the 60-year-old ace said he’s playing again to serve as inspiration to the young Filipino players. Also tipped to contend for a first TCC diadem worth P1.5 million is Clyde Mondilla, who is coming off a record playoff victory at Pradera Verde last January. Also from Del Monte, the 26-year-old ace, likewise, has some kind of a push to go for the championship, having won the Philippine Open in harsh conditions at the TCC last year. Other young turks in the fold are Reymon Jaraula, Fidel Concepcion, James Ryan Lam and Art Arbole; while joining Lascuña and Miñoza in the veterans list are Jay Bayron, Jhonnel Ababa, Rufino Bayron, Elmer Salvador, Gerald Rosales and Joenard Rates. Completing the cast are Jerson Balasabas, Zanieboy Gialon, Mhark Fernando, Paul Echavez, Rene Menor, Ferdie Aunzo, Albin Engino, Rico Depilo, Michael Bibat, Nilo Salahog, Richard Sinfuego, Dutch Guido Van der Valk, Japanese Kei Matsuoka, American Lexus Keoninh and Spain’s Marcos Pastor.

MercedesTrophy Gold braces for grand 15th edition

MERRY mix-up of cast, featuring MercedesBenz owners and clients, sponsors and guests, gear up for another friendly but competitive duel in what promises to be the biggest MercedesTrophy Golf Invitational on March 16, at the posh Santa Elena Golf Club. Organizers of the annual 18-hole tournament are guaranteeing an explosive edition, this being the championship’s 15th year with the event expected to draw more than 200 bidders for the Asian and World Finals berths in Australia and Germany, respectively. Kicking off the celebration is the traditional

MercedesTrophy Sponsors and Champions Night at Makati Shangri-La on Monday (March 2) featuring last year’s winners, sponsors’ representatives and VIPs, along with the confirmed players for the upcoming event. A putting challenge will spice up the bash set to start at 6 p.m. The 27-hole Santa Elena layout kept in championship form all year-long, is expected to provide a true test of golf for the participants in the event backed by Platinum sponsors Makati Shangri-La, Philippine Airlines, PLDT Alpha, Paramount General Insurance, Shell and TW Steel.

The winners in men’s division, along with the ladies champion, will represent the Philippines in the MercedesTrophy Asian Finals set in Brisbane in August. The best Filipino placer in the regional finals, supported by Gold sponsors Boysen, Boss, the BusinessMirror, Cole Hann, Primal Enterprises Corp., Remy Martin and Security Bank, will then head to the World Finals set in October. While gaining the chance to slug it out with other regional winners, participants in the Asian Finals will also be treated to an experiential drive showcasing the world-class performance and dynamic handling of M-Benz vehicles.

Standard Insurance’s Morales bags 2nd straight stage victory

NCRFA cops U15 title PBA D-League on

T’S a new era for Marinerong Pilipino as the only club team in the field opens its Philippine Basketball Association D-League Aspirants’ Cup campaign against Karate Kid-Centro Escolar University (CEU) on Monday at the Filoil Flying V Centre in San Juan. Without a doubt, this is the strongest lineup the Skippers have ever paraderd since joining in 2017 with Jamie Malonzo and, brothers Juan and Javi Gomez de Liano leading the pack. And it puts much pressure on the shoulders of Coach Yong Garcia to deliver, especially with Marinerong Pilipino coming off of a runner-up finish in the Foundation Cup last season. The Scorpions, on the other hand, are bracing for new starts as well with Coach Jeff Napa now calling the shots. Holdovers Franz Diaz, Rich Guinitaran, and Jordan Intic remain in the revamped Karate Kid-CEU, which will also have Jerie Pingoy, David Murrell and John Apacible in its lineup. Game time is at 4 p.m., following the clash between reigning National Collegiate Athletic Association champion Wangs-Letran and the revamped Eco Oil-De La Salle University at 2 p.m.

HE National Capital Region Football Association (NCRFA) finally made it on top topped the Philippine Football Federation U15 Boys National Championship—thanks to players from the Makati Football Club. Dominic Tom’s 94th minute strike lifted NCRFA to a 1-0 win in extra time over Negros Occidental FA (Nofa) in a thrilling final on Friday at the PFF National Training Center in Carmona, Cavite. It was NCRFA’s first-ever PFF U15 title. Tom emerged as the Most Valuable Player and top goal scorer while his Makati FC teammates Joshua Merino and Alfonso Gonzalez won the Best Defender and Best Goalkeeper honors, respectively. The best attacking team—coached by Richard Leyble—in the tournament scored a total of 79 goals. NCRFA was unbeaten in 10 matches, winning its first eight in convincing fashion before battling to a 3-3 draw with NOFA last November 17 to finish on top of the group with a superior goal differential. In the semifinals, NCRFA fashioned a 4-0 victory over Mount Apo RFA. Selu Lozano, Makati FC’s chief executive officer, believes that the team has a bright future ahead. “We started building this team four years ago when my dad handed me the management and operations of our club. This was never an overnight process and having this win only shows the amount of work we have put in to being the best U15 team in the country as of today. I am very proud of all our players because this is a testament to all their hard work,” Lozano said. After its successful PFF U15 championship run, Makati FC will compete in the JSSL Asia youth tournament in Singapore in April.

By Ramon Rafael Bonilla

ALAYAN CTIY—Jan Paul Morales again won on Sunday for his second straight stage victory—spoiling a victory for Nueva Ecija riders and pouring more concrete into Philippine Navy-Standard Insurance’s stranglehold of the 10th Ronda Pilipinas. The two-time champion kept his feet on the pedal despite the impending challenge of the climb in the Cordilleras. He zoomed past hometown boys Marcelo Felipe of 7-Eleven Cliqq and Arjay Peralta of Team Nueva Ecija in the sprint finish to top the 110.6-km Stage Seven in two hours, 35 minutes and 20 seconds. Cheered loudly by the crowd, Felipe and Peralta were part of a four-man breakaway with Ryan Tugawin of Team Tarlac and Cris Joven of Team Army-Bicycology. Their lead, however, dwindled in the final 5 kms with the peloton

pulling their tails in the last 100 meters. Part of the chasers was Morales—the Stage 5 winner and sprint classification leader—who mustered all his power to outsprint his rivals, including Felipe, in a mass finish. The 2016 and 2017 champion admitted that he got pumped up to catch the leaders when his coach, Reinhardt Gorantes, reminded him that the 7-Eleven veteran was up the front. “I took water from our team vehicle and our coach told me that Marcelo is in the breakaway. We worked hard to catch them,” Morales said. 7-Eleven’s Rustom Lim placed third behind Morales and Army’s Dominic Perez. They had identical times with the Navyman benefiting with the stage winner’s 10-second bonus. Ronnel Hualda was fourth in the stage that was flagged off in Tarlac City, followed by Ronnel Hualda of Go for Gold, Elmer Navarro of Scratch It, Navy’s George Oconer and Junrey Navarra,

Rick Olivares bleachersbrew@gmail.com

Bleachers’ Brew

A world of dishonesty

Triple Olympic champion Sun Yang has been banned from all swimming competitions for eight years for missing an out-of-competition doping test. The punishment was handed down by the Court of Arbitration for Sport (CAS) last Friday. Sun Yang won two gold medals in the 2012 London and 2016 Rio Olympics. This is Sun’s second ban after failing a doping test in 2014. The Chinese star’s ban following the landmark ban by World Anti-Doping Agency (Wada) on Russia from major international sporting events for four years last December 2019 for tampering doping tests and reports. Russia will have a closed-door appeal this April. Why it is behind closed doors is anyone’s guess, yet in my opinion, that is wrong. Why the secrecy? Will there be some backdoor maneuvering? Sun will also supposedly appeal although to my knowledge, CAS’s ruling is the last line of defense. Doping has long been a problem in sports. During the Cold War, many Eastern bloc athletes were always suspected of using steroids and other similar substances to gain an advantage. We aren’t generalizing, but it is what it is. And they aren’t the only ones. American cyclist Lance Armstrong is one of those whose image and achievements were torn down. While I am not sure if he has been repentant or even defiant, it is disappointing. I even wrote a local bookstore to take out Armstrong’s books (prior to his Tour de France trophies being taken away) for not being truthful. Whether they complied or not, I am not sure, but I will have to check. I will say though that those wristbands that he made a killing—Livestrong? I threw them out. He should wear a band that says, Live right. And yet, even here in the Philippines, there aren’t any real doping tests. I have held one college team in suspicion for using steroids one time. I don’t think they used it for long because the next year, they didn’t look so buff. But the time I did suspect them of using them, they did win a trophy. Last week, I wrote about the ongoing Houston Astros sign stealing scandal that they have admitted to but believe did not give them an unfair advantage. That is a lot of BS of course. What is disheartening is they got merely a slap on the wrist by Major League Baseball (MLB). What is heartening though is a lot of baseball players have sounded off on MLB and the Astros. Right now, we’re still waiting for MLB Commissioner Rob Manfred to do the right thing which is to take the trophy and those championship rings back; declare the 2017 null and void and fine the Astros heavily. But honestly, I don’t think he will. He should resign because the man has no integrity. There should really be stringent measures in place to make athletes, organizations, and countries liable for this cheating. They aren’t only enriching themselves, but they are cheating a great many other people—directly or indirectly—of opportunities. Say for example, the Astros who got better contracts following the 2017 World Series. That affected those who lost and didn’t get contract extensions or even jobs. So what if it impacts the sport big time? There must be integrity in sport. That’s the problem when money clouds decisions. You know it’s all for show. JAN PAUL MORALES is one strong sprinter at 34 years old.

Peralta, Mark Julius Bordeos of Army and Rench Michael Bondoc of Team Nueva Ecija. Oconer’s strong finish in the stage kept him in the leader’s red jersey with an aggregate of 23 hours, four minutes and 31 seconds with three stages remaining in the 10th anniversary edition of the race. Five Navymen are in pursuit—Ronald Oranza behind in one minute and 15 seconds behind, followed by Ronald Lomotos (1:18), John Mark Camingao (1:53), Navarra (2:17) and El Joshua Cariño (3:51). But Stage 8 from Palayan City stares down at the leaders as the race finishes atop Baguio City in Monday’s 170-km stage via the Marcos Highway descent. “It will be big test tomorrow [Monday]. The team worked hard for our lead. We went here to get the team and individual titles,” Oconer said. Navy has piled it up on its team classification lead with a total of 81 hours, 56 minutes and 49 seconds, more than 23 minutes ahead of Go for Gold.

WHAT IF... NOBODY CAME?

STEWARDS stand at a gate of the San Siro Stadium in Milan, Italy. AP

Sports BusinessMirror

| Monday, March 2, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Jim Litke

The Associated Press

HAT if they played a game and nobody came? Pro sports leagues in places as far-flung as Italy and South Korea are about to find out. With government approval, both Serie A soccer and the Korean Basketball League are opting to broadcast regularly scheduled games played in empty stadiums and arenas rather than postponing or canceling them—and the list of events is expanding—in response to the growing coronavirus threat. The length of the experiment hinges on the progress of the virus. But if it’s a success, both in terms of public safety and the leagues’ bottom lines, it’s not hard to imagine the first made-for-television-only Summer Olympics, with normally bustling Tokyo less a backdrop than a sound stage. “It could be a viable option, and depending on the situation, maybe the only safe option by then,” said Dae Hee Kwak, an associate professor and director of the Center for Sports Marketing Research at the University of Michigan. “Say the virus lingers on and on. And governments continue banning mass-audience events and people go along with some version of self-quarantine.... Will the games look and feel different on TV? Will people be disappointed, especially in places where attending games is

OME—Juventus lost its grip on first place in Serie A to Lazio on Saturday and the eight-time defending champion will have to wait more than a week— possibly even longer—to try and get it back. That’s because five Italian league games scheduled for this weekend—including Juventus’ highly awaited match against third-place Inter Milan—were postponed in an attempt to contain the spread of a virus outbreak. The fixtures were originally due to be played without fans but the decision to call them off was taken Saturday by the league as part of “urgent measures for the containment and management” of the COVID-19 disease. However, with the coronavirus outbreak worst in northern Italy, Lazio was permitted to play its match against Bologna in Rome and won 2-0 with its fans in attendance. Lazio moved two points ahead of idle Juventus and eight ahead of Inter, which also had a game postponed last weekend. Juventus’ next game is at Bologna on March 8—and there are concerns that this match and other games next weekend could be postponed, too, if the government decides to extend emergency antivirus measures for another week. At the Stadio Olimpico, many fans wore masks over their faces as Lazio extended its unbeaten run to 21 games. Luis Alberto scored one goal and set up another while playing through an apparent injury that left him limping. Bologna had two goals disallowed following VAR checks. With European champion Liverpool having lost on Saturday to end its 44-game unbeaten streak in the Premier League, Lazio now has the longest unbeaten run in Europe’s top 5 leagues. “I would never have imagined to be first after 26 rounds,” Lazio Coach Simone Inzaghi said. “But we’ve won the Italian Cup and Super Cup over the last three years and we’ve generally been in the region of the top 4.... So we’re not complete surprises.” Lazio also beat Juventus twice in December, once in Serie A and once to win the Italian Super Cup. Inzaghi played on the Lazio side when it last won Serie A in 2000. “I see a similar atmosphere,” he said. “I see guys who care for each other, a coach that has to make dozens of difficult decisions every day that are accepted. I remember at the time, we all listened to what Sven-Göran Eriksson said

part of their identity? Of course. “But in this case, the trade-off is hardly worth it,” Kwak concluded. “The fear of endangering your family and friends and community should always be greater than the fear of any lasting harm it could do to sports.” Games have been played and televised from empty stadiums before for varying reasons. But they’ve always been exceptions. The Baltimore Orioles played host to Chicago White Sox in an empty Camden Yards in April, 2015, with the city still simmering outside the locked stadium gates several days after a 25-year-old black man named Freddie Gray suffered a fatal spinal-cord injury while in police custody. Spanish soccer giant Barcelona played Las Palmas behind closed doors in October 2017 to register its protest against the government’s attempt to block a vote over independence for Catalonia. The team’s Camp Nou stadium, among Europe’s largest with a capacity approaching 100,000, has long been a rallying point for Catalan nationalists. The first round of the (now-defunct) North Atlantic Conference tournament was played in a nearly vacant Hartford Civic Center in March 1989 after one outbreak of measles at Siena College and another at the University of Hartford persuaded organizers to bar spectators. A win over Boston University (BU) at the buzzer gave Siena its first NCAA Tournament bid and a subsequent upset of Stanford in the first round of the big dance put the small school on the

college basketball map. “Over the long run, the way things happened made us even more famous,” recalled Steve McCoy, who rebounded a missed shot and hit the game-winning lay-up against BU. “I live in Boston now and I’m in church the other day, on Ash Wednesday, and I run into a Siena guy at the end of the mass. We wind up talking for an hour about ’89 and how it was one of the greatest experiences of our lives.... “As soon as somebody finds out I played there,” McCoy concluded, “the first thing they usually say is ‘Siena had that measles team.’” “It’s not like we drew big crowds at the time, but our last two regular-season home games were empty because of the measles. So at least we had some experience with it,” said Tom Huerter, McCoy’s teammate at Siena back then. “The first time you walk into an empty gym for a real game, it feels like a high-school scrimmage. You can hear the coaches screaming—every word—and there’s no other energy to feed off, so you’ve got to rely on each other,” he added. “We were lucky to have a tough-minded team.” Fear of the virus spreading further in Italy forced Serie A, the top Italian league, to postpone five matches this weekend—they were scheduled to be played in empty stadiums until Saturday morning. In the biggest match, not far from the epicenter of the virus outbreak in northern Italy, league-leading Juventus was to host third-place Inter Milan in Turin—the so-called Derby d’Italia.

“Soccer needs the crowd, to hear the atmosphere around it,” Inter Milan Coach Antonio Conte said. “That’s the best thing about the game, the atmosphere around the soccer being played. These decisions have been taken with public health in mind but I hope that everything returns to normal as soon as possible.” That’s unlikely, but sports-marketing experts say the television-only model could have staying power. “Look at it this way: the ‘gate,’ has been a declining share of revenue for big-time teams and leagues for some time now,” said Marc Ganis, president and founder of Chicagobased Sportscorp, a leading business consulting firm with deep ties to Chinese sports dating back more than a decade. “Empty stadiums can only go on for so long, but for big-time enterprises—international soccer, the National Football League and National Basketball Association, and especially the Olympics, say—it makes economic sense to show them in the meantime. They’re essentially TV properties. Way more of their revenue is generated from broadcasting rights than ticket and concession sales. “And, right now, the biggest threat to that model is uncertainty—government mandates, public acceptance... and, at some point, while I hate to bring it up, we’re going to have to add legal liability to this discussion,” he said. “So far, we’ve been very fortunate in the United States. “But what happens if an athlete or fan or support-staff member gets infected with the coronavirus?” he asked, then answered his own question. “Lawsuits won’t be far behind.”

Lazio takes Serie A lead with Juve left idle due to virus

and accepted his decisions.” Alberto put Lazio ahead 18 minutes in with a shot from the edge of the area after taking a pass from Ciro Immobile, and then provided the pass for Joaquín Correa to score with a

deflected effort three minutes later. Only two matches will be played Sunday: Lecce-Atalanta and Cagliari-Roma. The Sampdoria-Hellas Verona match on Monday could also be postponed. AP

Spectators wearing protective masks watch the Serie A match between Lazio and Bologna at Rome’s Olympic Stadium on Saturday. AP

Liverpool’s Mohamed Salah is stunned after his team’s 44-match streak falls. AP

LIVERPOOL: INVINCIBLE NO MORE

rsenal’s class of 2003-04 can breathe easy: Liverpool will not be joining them as Premier League “Invincibles.” “Phew...” was the immediate reaction from Arsenal’s Twitter account after Liverpool collapsed to its first league loss of the season on Saturday, a 3-0 defeat at Watford—a team languishing in the relegation zone. It marked the end of a 44-match undefeated streak and a record-tying 18-match winning run for Liverpool in the league. Juergen Klopp’s team headed to Vicarage Road as the champions-in-waiting—with its record 22-point lead—and needing to get through 11 more matches to also become only the second side after Arsenal to complete a full season unbeaten since the start of the Premier League in 1992. Preston also went through the 1888-89 season undefeated. Liverpool was five games short of matching Arsenal’s 49-match unbeaten streak in the Premier League from May 2003 to October 2004. That run ended when Arsenal lost 2-0 at Manchester United. Few could have foreseen the manner of Liverpool’s meltdown against Watford, which scored all of its goals in the second half through Ismaila Sarr (two) and Troy Deeney. Thankfully for Liverpool fans desperate to see their team back on top of English soccer for the first time in 30 years, the loss is far from terminal. Four wins from their last 10 games will see the Reds become champions for the 19th time. “There is no reason for panic,” Liverpool defender Virgil van Dijk said. “The [unbeaten] record, and the talk of the records, is all media. We just try to win every game ahead of us.” The performance will be a major concern, though, coming soon after a 1-0 loss to Atletico Madrid in their first leg in the Champions League’s last 16. Indeed, Liverpool’s players have been far below their usual high standards since returning from the Premier League’s first midseason break, having edged past last-place Norwich 1-0 and coming from behind to beat another team fighting relegation, West Ham, 3-2 on Monday. The loss to Atletico was sandwiched between those league matches. The absence of captain Jordan Henderson, who sustained a hamstring injury against Atletico, has been significant, while the defense looked ragged against Watford with Dejan Lovren filling in at center back for Joe Gomez. Liverpool’s next game is at Chelsea in the FA Cup on Tuesday. “We want to strike back, we want to show what we’ve been doing the whole season,” Van Dijk said. “That’s the only way forward.” AP

God’s word in our lives

EAR God, help us reflect Your word. Are we convinced that a real liberation can come only from God? Where do we see ourselves at this point in time: “in the land of gloom” (sin), or in the “land of light” (state of grace)? How can we experience the joy and peace that come from God? We always trust You, oh God, to clear our understanding so we may be connected with Your word all the time. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life

AND THEN SOME: SELF-CARE IS NOT JUST A WOMAN THING D4

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Monday, March 2, 2020

The 2020 crown contenders itself in its response to this yet-to-be-understood disease, has eased the worries of Filipinos. For now, fortunately, we are spared from the rapid spread of COVID-19. (And may it stay that way.) BINIBINING PILIPINAS “YOU only lose what you choose to give up.” This is the battle cry of Vickie Marie Rushton, 27, veteran of several beauty tilts. The Negros Occidental eyecatcher was Mutya ng Pilipinas-International 2011 and Binibining Pilipinas 2018 First Runner-Up. She won a slew of special awards at Binibining Pilipinas 2019 but stumbled in the question round, finishing in the Top 15. Her #Vlievers are hopeful that she will finally win the Binibining Pilipinas International title this time. And when she does, I also believe she will be a strong contender to win our seventh Miss International crown.

HILE the rest of the world is gripped by the coronavirus, the Philippines is focused on another korona—the pageant titles we’re so obsessed about. The beauty season is in full swing, and no global pandemic can dampen this excitement. On its first salvo, Miss Universe Philippines (coronation night on May 3) is shaking up the pageant industry with its innovative format. And although it lost the Miss Universe franchise, Binibining Pilipinas (finals night on April 26) is still a very much beloved organization. Miss Earth Philippines, relevant for its advocacy in this time of climate change, is also looking for its next eco-angel. (Mutya Pilipinas has yet to commence its search.) To be fair, the health department, commending

BINIBINING Pilipinas Negros Occidental 2020 Vickie Marie Rushton. Photographed by Raymond Saldaña; Styled by Vhee Co; Assisted by Aura Nicole de Jesus and January Saga Abad.

MISS Universe Philippines Sorsogon 2020 Maria Isabela Galeria. Photographed by Filbert Kung; Creative Direction by Eugene David; Styled by Loris Peña; Hair and makeup by Nix Institute of Beauty; Gown by Mark Bumgarner

MISS UNIVERSE PHILIPPINES THE official glam shots by international photographer Filbert Kung has been unveiled and the Runway Challenge happened on Friday at Uptown Parade, BGC. The crown and crowd favorites did fairly well posing in their designer gowns and conquering the catwalk. A standout, however, is Miss Sorsogon Maria

CONTINUED ON D2

Monday, March 2, 2020

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The 2020 crown contenders

Today’s Horoscope By Eugenia Last

Continued from D1

CELEBRITIES BORN ON THIS DAY: Bryce Dallas Howard, 39; Method Man, 49; Daniel Craig, 52; Jon Bon Jovi, 58.

Isabela Galeria, a dusky beauty who has the innate elegance of Chat Silayan (Miss Universe 1980 Third Runner-Up). “Pink is a beautiful color, because it is one of the colors that the sun makes at twilight and in the dawns,” says Isabela, 21, quoting C. JoyBell C., the author of The Sun is Snowing: The Scrapbook and The Conversation of Dragons, when she posted her glam shot wearing a creation by Mark Bumgarner. She competed at Binibining Pilipinas 2019, placing in the Top 15. With fashion icon Heart Evangelista and mentor Yeoh Egwaras in her corner, Isabela hopes to snag the first Miss Universe Philippines crown. MISS PHILIPPINES EARTH Marie Sherry Ann “SHANE” Tormes, 27, is another pageant campaigner with a never-say-die attitude. She competed at Miss Philippines Earth 2017, representing Mandaluyong City. She placed in the Top 25 at Binibining Pilipinas 2018, where she also won as Miss Friendship and Best in Talent, while also sashed as Miss Mandaluyong. At Binibining Pilipinas 2019, Shane represented Polangui, Albay, also placing at Top 25 and winning Miss Friendship. “It’s hard not to sit here and enjoy my view. I’m truly in awe with the beauty in which nature expresses herself. So much love for you, Mama Nature!” she writes in one of her travel adventures. At Miss Philippines Earth this year, Shane will be the Eco-Angel of Atimonan, Quezon. MISS INTERNATIONAL QUEEN JESS LABARES, 26, will represent the country in the biggest international competition for transgenders and transsexuals from around the world, which aims to “provide an opportunity for transgender/ transsexual to be more accepted in today’s world, to create transgender rights awareness among international communities, and to build friendship and exchange ideas among international lesbian, gay, bisexual and transgender/transsexual communities.” It is the contest’s 15th anniversary, with the coronation night on March 7 at Tiffany’s Show Pattaya

Happy Birthday: Control and contain your emotions, and the rest will be simple. Getting into senseless debates is a waste of time. Your intelligence, experience and ability to use your skills to make a difference should be where you focus your energy. Don't limit what you want to do to make someone else happy. Your lucky numbers are 5, 12, 22, 27, 34, 38, 45.

ARIES (March 21-April 19): Concentrate on what's in front of you, not what's over and should be put to rest. Aim for comfort, happiness and confidence. Refuse to let emotional issues or pushy, persuasive people pull you into tempting situations that encourage bad habits. HH

TAURUS (April 20-May 20): Waffling won't get you to your next destination. Check out something that interests you, whether it's a new job, updating your skills or traveling somewhere you've never been; it's time to set sail and implement change. HHH

GEMINI (May 21-June 20): Take one step at a time. Be aware of what is going on around you. Keep your emotions well-hidden and your opinions to yourself until you feel you can share without jeopardizing your reputation, position or status. HHH

Miss International Queen Philippines 2020 Jess Labares of Leyte

in Thailand. The gorgeous Jess is the reigning Queen Philippines. The Leyte native first joined the Cebubased pageant, the brainchild of couturier Cary Santiago, in 2017 placing in the Top 7 and winning Miss Photogenic. In November 2019, Jess and Mikee Vitug made history as the first Filipina transgenders to be hired as flight attendants. “I will forever cherish this opportunity given to me and with that, I’d like to extend my deepest gratitude to Cebu Pacific Air and CebGo for their acceptance. On behalf of the LGBTQ community, thank you very much,” she wrote in a grateful Facebook post. “I hope my role will inspire not just the LGBTQ community but everyone else with big dreams and determined to never give up on

Miss Philippines Earth Atimonan 2020 Marie Sherry Ann “Shane” Tormes. Makeup by @edwardthestar; Hair by @hairbyrjreyes.

something they want to achieve in life. Dedication, positivity and perseverance will definitely guide you toward personal success and happiness. Now I can finally say that this is, by far, the greatest crown I have ever worn.” Jess hopes to win our third Miss International Queen crown after Kevin Balot in 2012 and Trixie Maristela in 2015: “I promised myself to just enjoy, feel the moment and have fun every single day. No expectations, no regrets, no pressure. But definitely I will give my best shot. I am forever honored and grateful for this once-in-a-lifetime opportunity. Never in my wildest dreams did I imagine that one day I would be chosen to represent our country and shout its name—PHILIPPINES!” n

Dior invokes #MeToo in feminist-inspired fashion show look show, suggesting that for Chiuri it was more of a marketing gimmick than a developed creative idea. The rest of the show featured diverse silhouettes that delved in and out of the rich Dior archives—checks, polka dots, knitwear in jackets, shirts and pants—with varying degrees of success. A 1970s boho vibe was captured with a leitmotif of the printed silk headscarves. The checks, which evoked Dior’s longtime head Marc Bohan and designer during that retro era, appeared in beige and, occasionally, in a total look style. At times, twinned with fringing, it unfortunately did not look far off a luxury table cloth. Sandal flats, meanwhile, brought this ready-towear collection firmly down to earth. A reminder of the worries of daily life was enclosed in the program notes. While none of the fashion insiders, bar one, seemed to be wearing a mask against the new coronavirus that had shaken Milan Fashion Week, Dior wrote that “all our thoughts are with our teams, clients, friends and partners in Asia, Italy, around the world.” AP

“CONSENT, Consent, Consent” flashed the neon set lights at Dior’s latest ready-to-wear show in Paris. It signaled that the house’s firstever female designer, Maria Grazia Chiuri, would continue to explore her touchstone of feminism for her fallwinter 2020 designs. The set, the fruit of a collaboration with artist Claire Fontaine, made a strong impact on VIP guests— including actress Sigourney Weaver and singer Carla Bruni. Some paused for thought, especially as the show was delayed, in discussions of the #MeToo era and its influence on art—one day after Harvey Weinstein was convicted of rape and sexual assault, and led off to prison in handcuffs. The designs themselves cleverly riffed off the empowerment idea at the start: Such as the Dior signature bar jacket, reimagined as ribbed and angular, and twinned with a men’s shirt and business tie on a female model with a short pixie hairstyle. It was the show’s strongest fashion statement. The feminist and androgynous musing sadly faded quickly in the 84-

CANCER (June 21-July 22): Information is coming down the pipeline. Listen carefully, and it will help you elaborate on your plans. An open mind, coupled with a good imagination, will help you bring about positive change. Don't reveal your plans prematurely. HHH

LEO (July 23-Aug. 22): Watch and wait. Don't feel you have to make the first move. False information will push you in the wrong direction. Joint ventures will not be as they appear. You are best not to make a risky, impulsive move. HHHH

VIRGO (Aug. 23-Sept. 22): Take the plunge, do what's best for you and refuse to let anyone or anything interfere. Don't trust anyone using emotional tactics to push you in a direction that you don't want to go. Take care of your concerns first. HH

LIBRA (Sept. 23-Oct. 22): Size up whatever situation you face, and be responsible. Pencil in downtime to help avoid exhaustion and ease stress. Gather facts, and keep the peace using truth, integrity and common sense. Say no to indulgent behavior. HHHHH

SCORPIO (Oct. 23-Nov. 21): A change of plans will work to your advantage. Go with the flow, and everything will fall into place. Traveling, considering educational pursuits and hanging out with people who pique your imagination and stimulate your mind will lead to a positive lifestyle change. HHH

SAGITTARIUS (Nov. 22-Dec. 21): The past will come back to bite you if you have let matters escalate and emotions take over. Be upfront about the way you feel, and find out where you stand before you take another step forward. HHH

CAPRICORN (Dec. 22-Jan. 19): A change at home will be beneficial and bring you joy. Walk away from people and situations that are detrimental to your emotional well-being. Put an end to what isn't working for you. Protect your money, possessions and reputation. HHH

AQUARIUS (Jan. 20-Feb. 18): Make a change to your surroundings that will add comfort and convenience. Don't be fooled by someone who twists information to get you to buy in to something you don't need. Be clear about what you want. HHHHH

PISCES (Feb. 19-March 20): Take criticism for what it's worth, and use it to your benefit. You control the decisions you make and the changes you want to pursue. Refuse to let a friend or relative ruin your day. HH Birthday Baby: You are adventuresome, independent and alert. You are confident and dedicated.

‘alien invasion’ by billie truitt The Universal Crossword/Edited by David Steinberg

ACROSS 1 High-five sound 5 O’Rourke of Texas 9 Hurled 14 Campaign barometer 15 Leave out 16 Get more mileage from 17 Opera highlight 18 Split in “th _ _ _ _ y” or “d _ _ _ _ ing”? 19 Bird on a quarter 20 High excitement about remodeling kitchen storage? 23 Left the stage 24 Utter rubbish 25 Network on the telly 28 String tie 31 Setting 33 Often-nasty review 37 Sway of a French impressionist? 39 Inbox filler 41 “Give ___ rest!” 42 Food fight sound 43 Rodents with miniature Revolutionary War weapons? 46 Requests

47 Bible book before James, alphabetically 48 Exam given in HS 50 No. that never starts with (911) 51 Pilot-licensing org. 53 Key on an old cash register 58 Small piano tuner? 61 One may be five-alarm 64 Think tank product 65 Annapolis initials 66 Outspoken 67 Flour producer 68 Tuition and others 69 Terse meeting request 70 Slippery swimmers 71 Taxi expense DOWN 1 Elbow room 2 Dr. Seuss’s environmentalist 3 Suspect’s defense 4 Braided hair 5 Feeling at a tedious lecture 6 Give off 7 Squabble 8 River mammal 9 Forest canopy

0 Get wind of 1 11 Snug bug’s “home” 12 Adult ed. course 13 Minuscule 21 Omaha’s state: Abbr. 22 Former plug-in Chevy 25 Sobs loudly 26 Cold and dreary 27 Certain breath mints 29 Thieves’ hideout 30 Ready to pour 32 NYC club in a Manilow hit 33 Send in payment 34 Bring a smile to 35 Marked by a twang 36 South Pacific carving 38 Vittles 40 A child may jump into one 44 Siamese, nowadays 45 Summer footwear 49 “___ Good at Goodbyes” (Sam Smith song) 52 Crunchyroll cartoon genre 54 Shoe woe 55 Confused 56 Reclusive one

7 Hit the backspace key 5 58 Harshly criticize 59 Pop singer Brickell 60 Bluffer’s giveaway 61 Rite Aid rival 62 Tool for digging furrows 63 Rink surface

Solution to Friday’s puzzle:

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There’s no stopping Marco Gumabao ‘Amazing Race' suspends filming as virus precaution

ITH all the good projects landing on his lap one after the other, there is no doubt that Marco Gumabao is shaping up to be the next best leading man of Philippine cinema. The son of former actor Dennis Roldan (Mitchell Yap Gumabao in real life) and former top model Loli Imperial, the 25-year-old Gumabao has certainly found his “happy place” in local show business. “I admit that growing up, I had other dreams. I wanted to be an athlete, I wanted to become a businessman. I wanted to be in the corporate world. I wanted to be a model. All these crossed my mind,” he opened up during a recent conversation. “But I guess life takes us where you should be at a certain time and here I am, learning about life in show business, an industry that has been good to some family members, too.” Aside from his dad, who had wonderful roles in now classic movies like Lino Brocka’s Kontrobersyal and Akin ang Iyong Katawan, Mario O’Hara’s Bakit Bughaw ang Langit?, Celso Ad Castillo’s Paradise Inn and Uhaw na Dagat, and Laurice Guillen’s Salome, there is also his auntie Isabel Rivas who is back on active status as an actress with an ongoing drama series for GMA. We first took notice of Gumabao in the film festival movie Aurora, and then he surprised us again in the Irene Villamor film Ulan. We were not surprised at all that Viva Films elevated him to leading man status opposite its A-list star Anne Curtis-Smith in the movie Just a Stranger, which made a killing at the box office. The advertising world also took notice of his many endowments and the Bench Body brand signed him up immediately as endorser. Gumabao also made a mark in the successful afternoon drama series Los Bastardos that aired for a good stretch on ABS-CBN. What excites Gumabao these days is the movie Hindi Tayo Pwede, which starts its theatrical run on Wednesday, under the direction of actor-director Joel Lamangan from a Ricky Lee script. “I am so happy to be cast in this project, it was a breeze working with both Lovi Poe and Tony

Descendants of the Sun

LOS ANGELES—The globe-trotting reality series The Amazing Race is taking a breather as a precaution due to the virus outbreak affecting several countries. CBS said in a statement Friday that it had temporarily suspended production, and was sending contestants and crew members home as a precautionary measure. Filming on the show’s 33rd season was in its early stages. “At this time, no racers or anyone on the production team traveling with them have contracted the virus, or shown symptoms, and we are not aware of anyone being exposed to it,” a network spokesman said in a statement. “Out of an abundance of caution, everyone involved in the show will continue to be monitored when they return home.” Nearly 60 nations have reported cases of coronavirus, including China where the current outbreak emerged. China has the majority of confirmed cases and has reported more than 2,700 deaths. In Asia, attractions including Tokyo Disneyland and Universal Studios Japan announced closures, and events that were expected to attract tens of thousands of people, including a concert series by the K-pop group BTS, were called off. AP

Labrusca. The relationship issues tackled in the movie are very contemporary and timeless—to hold on or to move on, to let go or to fight for what one thinks is worth keeping. I definitely grew up as an actor under the guidance of our director.” He added, “There is a lot of love scenes in this film, that is why I am so excited that it will be shown very soon. The kissing and the sensuality are all integral in the narrative, and I am just glad we showed what we needed to show in the film.” Gumabao is on a winning streak and showbiz insiders think this film will be the first to do really well in the box office, after a recent spate of disaster movies that failed due to either the coronavirus scare or substandard filmmaking. There’s truly no stopping Gumabao now that he is on his way to the top. n

Anak ni Waray vs. Anak ni Biday

GMA fortifies prime-time lineup beginning TONIGHT There’s more to look forward to on GMA Network’s newest prime-time lineup beginning tonight, March 2. Due to the clamor and numerous requests of avid viewers, the local adaptation of the global hit Descendants of the Sun (DOTS) moves to its new time slot as it brings more feel-good and action-packed scenes right after 24 Oras. As the series unfolds, Dingdong Dantes as Capt. Lucas and Jennylyn Mercado as Dr. Maxine find themselves working together on a medical mission in Urdan. Will they finally give love a chance, or will Maxine continue to repress her feelings for him? After all the drama and action, DOTS is followed by the test of friendship in Anak ni Waray vs. Anak ni Biday. The dramedy series, which stars Barbie Forteza and Kate Valdez as best friends Ginalyn and Caitlyn, now sees both ladies falling for the same man, Cocoy (Migo Adecer). As

they both vie for his attention, will their friendship survive, or is this the end for them? The situation is equally complicated as the plot thickens in the compelling prime-time series Love of My Life. As Stefano’s (Tom Rodriguez) disease worsens, his wife Adelle (Carla Abellana) and exgirlfriend Kelly (Rhian Ramos), are both trying to spend as much time with him as possible. On top of this, his mother, Isabella (Coney Reyes), is juggling between caring for Stefano and dealing with her illfeelings toward Nikolai (Mikael Daez). Finally, catch the heartwarming ending to the story of star-crossed lovers Dan, a mischievous angel, and Heaven, the lovely ballerina, in Angel’s Last Mission: Love. Will Dan agree to marry Heaven and leave his immortal life behind? Witness how love can conquer all the odds between them in the finale happening on March 5.

Monday, March 2, 2020

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ACTOR Arjo Atayde

Self-care is not just a woman thing

rjo Atayde believes that it is his responsibility to take care of himself and not just health-wise. “I have always taken care of my skin and body. As an actor, I have to. But I’d never thought it would get to this point that I would avoid eggs when I have a pimple because dairy and poultry can aggravate it,” said the 29-year-old actor, whose skin tends to get oily. Beautederm Corp. President and CEO Rhea Anicoche-Tan said she has always wanted Arjo to endorse skin-care products for her company. “There is a demand for a skin-care line for men, and I think Arjo is perfect for it. He has the best skin. We wooed him for a year for this.” Spruce & Dash is a patented line of products developed and created by Beautederm especially for men. The five products under Spruce & Dash men’s line are all FDA Notified. Tan coined the collection’s name based on their basic definitions with spruce being “neat in dress or appearance,” and dash being “impetuous with flamboyant vigor and confidence.” The Spruce & Dash line includes Beau Charcoal Soap, Hugh Shaving Cream, Brawn Antiperspirant White Spray for feet and underarms, Charcoal Charmer Detoxifying Peel-Off Mask, and Lad Hair Pomade. Arjo’s favorites are the Beau Charcoal Soap, Brawn Antiperspirant White Spray and Hugh Shaving Cream. The soap, he said, is his last cleansing step after a day of wearing makeup. He also uses it as a body soap because it helps him smell fresh all day, particularly

when he’s outdoors. He uses the spray on his feet before putting on his socks. Arjo said he likes being a Beautederm endorser because they are like family. Arjo, his sister Ria and their mom Sylvia Sanchez are all Beautederm ambassadors. Sylvia is also a reseller with her own Beautederm outlets. “Tita [Tan] always sends us a lot of products, so we get to try them, and even ask our friends to try them,” said Arjo. Actor Carlo Aquino, a Beautederm ambassador since 2013, is also one of the faces of Spruce & Dash. “Achi [Tan] was the first to get me as an ambassador. I wasn’t very vain before. Achi helped me become more conscious because, after all, I am an actor, and I have to take care of myself,” said Carlo. The actor’s favorite Spruce & Dash products are the soap and the Charcoal Charmer Detoxifying Peel-Off Mask, which he finds easy to apply and remove. Tan created the Spruce & Dash products so that both men and women can use it. They’re all gentle but effective and formulated with the best ingredients available. “There is a demand for men’s products, and we’re very happy to be doing these for our male customers and clients who have skin care and grooming needs,” said Tan. Beautederm is reliant on celebrities as its brand ambassadors nationwide. “I want to make the brand ambassadors feel they’re important to me, that they’re family. I am grateful to them,” said Tan. We asked Tan how she measures the effectivity of her brand ambassadors and she said the effect of celebrities posting on social media or people watching their interviews on TV is immediate. “We get inquiries on certain products, and the sales immediately increase. Interested customers and fans of the celebrities also immediately follow our Facebook and Instagram accounts,” she said. The company currently has 45 ambassadors promoting different products. When Beautederm opens a physical store, it is always star-studded. More important for Tan is that her products are good and that Beautederm’s customers enjoy them. n

Search for makeup brand ambassador DO you have what it takes to be next face of what is touted to be the country’s leading cosmetics brand? Ever Bilena (www.everbilena.com.ph) is on the hunt for its next beauty ambassador via the first-ever Face of Ever Bilena, an online model search contest which aims to highlight the people behind the success of the brand: its loyal customer base. To join, participants must be a user of Ever Bilena products, a resident of the Philippines, and a follower of @everbilenaofficial on Instagram and Ever Bilena Cosmetics on Facebook. Participants must post a photo holding and wearing their favorite Ever Bilena products (EB Advance, Careline, Blythe and Kris Life Kit are not included). Photo entries must be uploaded publicly with the hashtag #FaceOfEverBilena included in the caption. After uploading and tagging photo entries, participants must send the brand a direct message stating their name, Facebook user name, birthday, mobile number and address. Photos will be judged based on over-all look, photo quality and photo shares (likes and comments). Photos with the most shares and likes will also get additional

points in the overall judging. Three runners-up will receive P10,000 in cash and a modeling contract with Ever Bilena for one year, along with P10,000 worth of products. The grand winner, on the other hand, will take home P30,000 in cash plus a modeling contract with Ever Bilena for one year and a year’s supply of makeup products.

EVER Bilena Cosmetics ambassador Loisa Andalio

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The mystery of the $2,000 Ikea shopping bag hy does the luxury brand Balenciaga sell a $2,000 purse modeled after a $1 blue Ikea shopping bag? We tend to think of status symbols starting out at the top tiers of society, among the glitterati and trendsetters, then trickling down to the rest of us.

But a new trend seems to contradict this pattern. Instead of percolating through the middle, some signals seem to leapfrog directly from low culture to high. What might explain this different trajectory? As traditional luxury goods, such as the iconic Louis Vuitton monogrammed bag, become more attainable, the wealthy need alternative ways to signal their prestige and power. In this context, elites can experiment with lowbrow culture and downscale tastes without fear of losing

status, while middle-class individuals, whose position is more tenuous, have to stick to more clear-cut status symbols. But there is a catch. When adopting low-end trends, elites combine them with high-end items to make sure the signal is still clear. Sarah Jessica Parker may wear a flea-market jacket, but she does so in Louboutin heels. High-end brands can stay relevant by incorporating select downscale styles and trends in their collections. Indeed, several luxury brands already use this

strategy. Brands, such as Prada and Gucci, have produced luxury versions of traditionally low-key or unremarkable items, such as pool slides and leg warmers. Rather than revisiting downscale items, Louis Vuitton’s recent initiatives and collaborations seem to reveal a similar interest in edgy subcultures and kitsch artists. In recent years, the brand has launched a collection with Supreme, an American skateboard brand, while collaborating with the artist Jeff Koons, known for his reproductions of kitschy, banal objects.

By Sheri L. Feinzig & Nigel Guenole

By Nadya Zhexembayeva

e’re in the middle of an analytics revolution. The change is being driven by numerous factors, but two are more important than the rest. The first is an explosion in the amount of valuable digital data generated by workers and consumers as they go about their daily lives. The second is advances in technology, such as machine learning, artificial intelligence, and cloud-computing platforms that allow us to interpret and leverage all this data. Yet, companies that excel at analytics have more than access to great data and technology. These companies recognize that success with analytics also requires an analytical mindset among its executives and an analytical culture throughout the business. In other words, it’s critical to bring the people along with the technology. There are two easy steps firms can take to do this.

It’s also the routines we develop and the activities we engage in when making decisions that determine proficiency. Instead of letting habits and activities develop by chance, dedicate daily time for activities that create analytical habits. Organizations that invest in seniorlevel expertise, and reinforce daily analytical activities will be best positioned to take full advantage of the data, and technology, that abound today, and will undoubtedly expand and evolve into the future. Sheri L. Feinzig is a partner at IBM’s Global Business Services, Talent and Transformation practice, where Nigel Guenole is an associate partner. He is also director of research for the Institute of Management Studies at Goldsmiths, University of London.

Ekaterina Zaitseva | Dreamstime.com

Ensure that executives have strong analytics capabilities

Develop routines that support analytical thinking

Silvia Bellezza is a professor at Columbia Business School. Jonah Berger is a professor at the University of Pennsylvania’s Wharton School.

Stop calling it ‘innovation’

Data-driven cultures start at the top

It’s only when deep expertise exists among top leadership that a penchant for evidence-based decision-making will develop pervasively throughout the organization. Like any other discipline, becoming good at analytics requires seasoning and experience, which junior employees are unlikely to have. Another essential function requiring executive-level direction is the implementation of proper data governance. Instead of delegating analytics responsibility to lower levels of the organization, it’s imperative to reserve a number of executive positions for people with genuine analytics expertise, and to propel people with the requisite knowledge and skills into higher ranks.

Our research has shed light on how status symbols evolve in a world where luxury goods are becoming more mainstream. As the traditional markers of superiority lose their signaling value, highstatus consumers and brands may purposefully choose to mix and match different types of signals as an alternative strategy.

et me start with the obvious: “Innovation” is a buzzword. In fact, it’s been a buzzword for so long you could say we’ve developed a cult around it. Whether in the classroom, the newsroom or the boardroom, innovation is our global darling. There’s only one problem: We might love innovation, but most of our employees hate it. I first discovered this dirty little secret shortly after leaving my safe job as a business school professor to start my own consulting business, focusing on— you guessed it—helping companies learn how to innovate. Armed with the latest research, all fired up with ideas for ways to help my first client, I found myself face-to-face with a line manager, who told me, point blank: “For you people, innovation is ‘all that.’ For us, it’s extra work with no results or—much worse—lost jobs.” Since then, I’ve heard this idea posed in various ways at some point in every single project I’ve worked on. And the data bear out these fears. So here’s a thought: Stop calling it innovation. Instead of scaring everyone off, how about finding language that in your specific context—your industry

or your country—speaks of continuity and benefit? When engaging internally with employees, Danfoss, a global manufacturing company, has branded its innovation process around the simple, manageable word: “idea.” While not everyone thinks they can be innovative, nearly everyone has at least one idea. Similarly, Knauf Insulation, a leading construction materials company, puts “reinvention days” at the heart of its process, betting on a term that projects continuity and accessibility. Others choose words or phrases for their efforts, programs and functions that focus on the end benefits for employees, such as simplicity, organizational health or simply staying in business. The word innovation might speak to your external stakeholders, but when it comes to engaging your employees, it’s time to stop using it. Whatever term you choose, make it about your audience—not you, your public relations department or the next big Davos announcement. That way, real innovation might actually stand a chance. Nadya Zhexembayeva is the chief reinvention officer at WE EXIST Reinvention Agency, a boutique consultancy firm.

How sales teams can thrive in a digital world By Andris A. Zoltners, Prabhakant Sinha & Sally E. Lorimer

ince the dawn of the Internet era, experts have predicted that technology will replace salespeople, and it’s easy to find examples. But sales organizations can survive and thrive in the new digital world by responding to the changes that digital brings to products, customers, salespeople and sales channels. A more data-driven approach to sales decision-making will be critical for success.

Leveraging digital as part of the offering

Some products, such as software and information, are inherently digital. But growing numbers of non-digital products are adding digital elements. And digital support of buying processes can enhance customer value for any product. Salespeople have to step

up and help customers get value from digital features.

Embracing digital natives as buyers and sellers

As more informed customers shift power away from sellers and the ranks of digital natives grow, companies should spent time influencing their online presence and persona, thus ensuring that the information buyers get before engaging with salespeople puts the organization in the best possible light. Salespeople must focus on discovering what customers have learned through their prepurchasing research. And companies can take advantage of the skills digital natives bring to sales roles.

Enabling multichannel customer connections

Today’s customers get information from multiple sources. They “pull” information from company web sites, online videos and review sites. They

get additional insights when companies “push” information via e-mail, text and their own salespeople. With the right channels in place, companies must create a consistent buying experience. Customers will become frustrated if, for example, the information they see on a company’s web site is inconsistent with what they hear from a salesperson. Artificial intelligence and customer relationship management tools can help companies deliver a synchronized multichannel customer experience.

Denisismagilov | Dreamstime.com

By Silvia Bellezza & Jonah Berger

Using analytics to power sales decisions and processes In almost every domain of sales, data-driven decisions are replacing instinct. Sales organizations use data, and analytics, to improve strategy and resource deployment, as well as talent management and customer engagement.

Sales organizations that proactively address these challenges are more likely to navigate the tumultuous digital landscape successfully, thereby driving success for their customers and company.

Andris A. Zoltners is a professor emeritus at Northwestern University and a cofounder of ZS Associates. Prabhakant Sinha is a cochairman of ZS Associates.Sally E. Lorimer is a marketing and sales consultant, and a business writer for ZS Associates.

Education BusinessMirror

E2 Monday, March 2, 2020

Ilocos Norte schools making reading fun for learners

Save the Children bags global Zero Project award

AOAG CITY—At a time when schoolchildren are glued to television sets or cellular phones during their free time, several schools in this city and the province are trying to catch children’s attention to promote fun reading.

At the Laoag City Elementary School, at least four corners under its stairs are being used as reading nook for all pupils, said Athelene R. Sampayan, Master Teacher I of LCES, last week. “During their lunch break, pupils gather in the nook to read, scan and do some assignments instead of running around at noon time,” Sampayan said, adding that pupils are motivated to read when passing by the reading corner. To promote reading with comprehension, which has become a major concern in schools nationwide, the Badio Elementary School (BES) in Pinili, Ilocos Norte, also declared a 4 o’clock reading habit among its learners.

“When they go to the school canteen, our pupils, particularly those from Grade 1, pass by a reading corner where they read out loud as a group,” said BES Principal Aileen Rambaud. Since they intensified the reading habit of their pupils, Rambaud said some of them have indeed showed great improvement. Similar to other schools, Principal Orlando Pascua of Filipinas East Elementary School also established a reading park near the school playground. While taking time to play, the pupils stand near the newly installed reading readiness corners as they read selected short stories and words to enrich their vocabulary.

Pupils of Filipinas East Elementary School in San Nicolas, Ilocos Norte, read some words at the reading corner near the school park on February 21. The Department of Education Memorandum 173, Series of 2019, encourages its offices from central to division levels and schools to intensify their advocacy for reading in order to make every learner a reader at their grade level, and turn teachers into effective reading instructors. Orlando Pascua

Early on, the Department of Education has launched a program called READ to LEAD as part of Bawat Bata Bumabasa (3Bs, or Every Child Can Read) initiative, an advocacy to make every learner a reader at grade level. Under DepEd Memorandum 173, Series of 2019, the 3Bs initiative encourages the department’s offices from central, division levels and up to schools to intensify their

advocacy for reading and make every learner a reader at their grade level and turn teachers into effective reading instructors. On March 5, Education Secretary Leonor Magtolis Briones is expected to visit some Ilocos schools to consult with teachers and students about various concerns, and to discuss possible ways to address them. PNA

UP receives new Professorial Chair from MVP

The Sundial Plaque is presented to Manuel V. Pangilinan (fifth from left) by UP President Danilo Concepcion (sixth from left). With them are (from left) One Meralco Foundation President Jeff Tarayao, UPERDFI Executive Director Alfonso A. Aliga Jr., Voyager International President Orlando Vea (UPERDFI member and Chair donor), Maynilad President Ramon Fernandez, PLDT-Smart Foundation President Esther Santos, PLDT Chief (People Support) Gina Ordoñez, UPCOE Dean Ferdie Manegdeg, PLDT and Smart Public Affairs Head Ramon Isberto, and UPERDFI President Rico A. Trinidad.

he University of the Philippines (UP) recently received a new Professorial Chair from business magnate Manuel V. Pangilinan. PLDT-Smart Foundation signed the deed of donation for the Manuel V. Pangilinan Professorial Chair in Engineering. The donation was made through the help of the University of the Philippines Engineering Research and Development Foundation Inc. One of UPERDFI’s major objectives is to bridge the private sector with the academe in terms of support. This was the second chair sponsored by PLDT-Smart Foundation. In November 2019, the PLDT-Smart Foundation Professorial Chair (which was set up in 1999) was infused with fresh funding.

The event was hosted by UP President Danilo L. Concepcion. It was attended by executives from some of the MVP Group of Cos. (PLDT, Maynilad, Voyager International and One Meralco Foundation), faculty of UP College of Engineering (UPCOE) and members of UPERDFI. Concepcion thanked Pangilinan and cited the importance for the university to receive support and encouragement from the private sector as it has a major beneficial impact to the students today who will become the nation’s future engineers and leaders. In turn, Pangilinan expressed his honor for being able to contribute to UP, stressing that his companies like Philex Mining, Metro Pacific Tollways, Meralco, Miesco and Maynilad, have always been supporting UP in various ways.

He also noted that businesses “have an obligation to help the academe and nurture dialogues.” UPERDFI Executive Director Alfonso A. Aliga Jr., said the MVP Group of Cos. is currently sponsoring 14 professorial chairs in Engineering. “The support of MVP and his companies definitely goes a long way. Professorial Chairs encourage innovation among our faculty and inspire students to aspire for greatness,” Aliga said. He also added that in 2010-2011, Pangilinan funded the renovation of a faculty house into the Balay Atleta and donated a full-size bus for the UP varsity teams. Professorial Chairs are awarded to faculty members and serve as incentives for the recipients to further excel in teaching and to pursue researches related to their fields of interest and expertise. As a symbol of appreciation and distinction,

UP gave the donor a Sundial Plaque, an elegantly framed artwork depicting the meters-high concrete sundial that stands in the UP College of Engineering compound. It was presented by Concepcion to Pangilinan after the signing ceremony. “We welcome all kinds of support for various programs of the UPERDFI that focus on faculty and student support. UPERDFI is at the forefront of helping the school—and our nation—have better engineers of the future who are also technopreneurs who will shape a better Philippines and a better world,” said UPERDFI President Rico A. Trinidad. Since its founding in 1972, UPERDFI focused on faculty support, which includes Professorial Chairs and research grants; student support, such as scholarships, study grants, thesis grants, competitions and awards; and learning infrastructure, such as buildings, classrooms and laboratories. UPERDFI, together with the UPCOE, is also aiming to commercialize innovative and adaptive technologies and applications coming from faculty and student research projects for the benefit of all. Thus, UPERDFI continuously bridges the academic institutions with the private sector to undertake projects on a wider scope. UPERDFI is raising awareness and sustainability of the intellectual capital of UPCOE. Now on its 47th year, it is undertaking projects at a broader scope, encouraging its members— who are now the movers and top executives of various companies—to be involved in industryacademe-government collaborations, and to get their cooperation in order for the UPCOE to produce the best engineers who will shape the future of the Philippines.

Parents grapple with e-learning as Chinese schools stay shut

he weeks-long closure of schools over virus fears across China and Hong Kong is testing kids—and their parents. Working mom Chen Yan has taken to installing a surveillance camera at home to see what her 12-year-old son is up to during the day while she’s at the office in the mainland city of Shaoguan, in Guangdong province. So far, she’s caught him doing everything but studying, including napping while livestreamed lessons play in the background. “We can’t hear a single sentence from the teacher smoothly given the slow Internet,” she said. “And I’m sure the teacher won’t notice if my son is listening in a 60-student class.” China’s novel coronavirus outbreak has infected more than 70,000 people and shut down large parts of its economy since emerging in Hubei province in December. It’s also forced millions of parents across the mainland and Hong Kong to share space with their children schooling from home as campuses from the elementary to university level extend closures through March.

It’s been an unexpected boon for one industry: online education, which now must figure out how to engage students accustomed to classroom interaction. While parents are suffering, Chinese online education companies are stunned at their good fortune. What was a fiercely competitive, cash-burning market segment is now one of the few business winners from the health crisis.

Moving online

Eric Yang, founder of the Shanghai-based iTutorGroup, said the number of online classes taken on its platforms was three times more than the previous year during the first 10 days of February. Growth was especially rapid in smaller mainland cities where more students already relied on offline tutoring classes, he said. The company is controlled by China’s biggest insurer, Ping An Insurance Group Co. “The coronavirus is redefining the online education sector,” Yang said. “I expected online classes would surpass physical tutoring

businesses in three years, but now I think the turning point will come much earlier.” Shares of China’s education companies surged this month as the virus spread. Two of the most prominent—TAL Education Group and New Oriental Education and Technology Group—were up 19.2 percdent and 13.4 percent at the close of trading Friday, respectively. The market share for online education in China’s 463 billion yuan ($66 billion) afterschool tutoring business was just 6.5 percent in 2018. That figure could jump to 35.7 percent by 2023, according to business consulting firm Frost & Sullivan. Some 2 million Chinese students have enrolled in online classes in the short term due to the coronavirus, Citigroup analyst Mark Li said in a note this month.

‘Reasonable compromise’

Hong Kong entrepreneur Ben Chu, 42, has a nine-year-old daughter studying at an international elementary school that’s using education app Seesaw and Google Classroom to assign

tasks, share materials and collect homework. “Learning online is a reasonable compromise at this special time,” Chu said. “But it will never be a replacement for a classroom, for face-to-face learning experiences.” Ivan Au, 48, works in the city’s insurance industry. With the mainland border largely closed, no Chinese clients are coming across these days, he said, turning him into a fulltime educator for his five-year-old daughter and more tired than when he was working full time. “When she’s learning, I am the teacher,” he said. “When she’s playing, I need to accompany her. When she goes to sleep, I need to prepare for the next day’s teaching materials. I get no rest at all.” Au was relieved when the kindergarten scheduled a session with live instruction from a teacher on videoconferencing platform Zoom last week. “My daughter really looks forward to meeting with other kids online after staying at home for weeks. She was excited and took many pictures of the video meeting with her Polaroid camera,” he said.

Editor: Lyn Resurreccion

ave the Children Philippines won in the prestigious Zero Project awards for its innovative program “Kabataang Aralin sa Lahat Ibahagi [Kasali]” that helps children with disabilities get access to quality, inclusive and protective education, and ensure equal learning opportunities for the most disadvantaged girls and boys. The Vienna-based Essl Foundation initiated the Zero Project to recognize the most innovative and effective solutions to the problems of persons with disabilities throughout the world through the Zero Project award. Save the Children’s Kasali won the Innovative Practice 2020 on Inclusive Education because of its multifaceted approach to help children with disabilities through an integrated multisectoral approach. The program engages the home, schools, government and communities to work together and address the needs of children with disabilities. It was nominated by Carmen ReyesZubiaga, former executive director of the National Council on Disability Affairs. Zero Project cited the Kasali project for “providing solution, innovation and impact to the needs of children with disabilities” by strengthening the capacity of various societal actors, such as teachers, parents, school heads, other education personnel, allied health professionals and peers, and local government bodies to support inclusive education. Atty. Alberto Muyot, chief executive officer of Save the Children Philippines, welcomed the award and its contribution to the advocacy to promote the rights of children with disabilities. “Children with disabilities suffer compounding difficulties that render them vulnerable to exclusion from and within education,” Muyot said. The organization is pushing for the enactment of the Inclusive Education for Learners with Disabilities bill that focuses on the responsibility of the education system, parents and communities to adapt to the learning needs of learners with disabilities. The results of the consultation with learners with disabilities and their parents

held in November 2019 were incorporated in the proposed policy. Through the support of the Senate and House Committees on Basic Education, the Department of Education (DepEd), the academe, and other government agencies and civil society organizations, the bill is moving toward approval by the Congress. “Children with disabilities are children. This means that they have the right to grow up in an environment that supports their development, that they have the right to express their opinions, to be heard and to go to school, learn and engage meaningfully with classmates and peers,” Muyot said. Sierra Mae Paraan, Basic Education advisor of Save the Children, said there is more to be done for children with disabilities and other vulnerable children. She underscored the need to develop programs for children who suffer from intersectional vulnerabilities. “There are many children with disabilities who are out of school. This exponentially affects their future and potentially exclude them from government services. We need to work together and collaborate for solutions,” Paraan said. A total of 739 children with disabilities have been enrolled in identified schools in Parañaque, Taguig and Pateros since the implementation of Kasali project in 2014. Children enrolled in the project showed improvement in their cognitive and social skills through participation in school and community activities, and have learned to trust their teachers and peers. Kasali’s engagement at the national level resulted in the ongoing provision of technical assistance to the DepEd and drafting a memorandum of understanding on Inclusive Education for children with disabilities. The agreement outlines roles and responsibilities among the national government agencies, including initial steps toward better program integration for children with disabilities. Kasali was also monumental in the revitalization of Council for the Welfare of Children’s Subcommittee on Children with Disabilities and helped finalize CWC’s National Strategic Plan for Children with Disabilities.

Ella Carino/Save the Children

‘Not stable’

There are hurdles to making an online education as impactful as real-life interaction—even for teachers who, too, must remain home with their kids. Hu Bing, 44, a physics teacher in Beijing, steeled herself as her 16-year-old daughter restarted classes last week from home, using an e-platform to continue studying for next year’s all-important college entrance exam. “Every so often our Internet cuts out; it’s not stable,” she said. Another foreseeable problem is the additional time it might take to cover class material when students aren’t convening in person. The boost to online learning platforms may also ebb away quickly after the epidemic passes. “There’s no guarantee this short-term boom can be turned into long-term growth,” said Yvette Chan, Hong Kong-based managing director at consultancy Alvarez and Marsal. “Companies need to have high-quality learning platforms to keep students in the virtual classrooms.” And the virus’s impact could lead to an oversaturation in the market, as companies from new start-ups to China’s tech giants like Alibaba

Group Holding Ltd. are jumping into the fray, said Chien Wong, founder of Envolve Group, an education-focused investment company. Alibaba’s DingTalk, now the most downloaded free app in China’s iOS App Store, rolled out new features for classroom settings, including live-streamed lessons for upwards of 300 participants, and an online testing and grading system. At least 50 million students from elementary to high school had signed up for its online teaching programs as of February 10, according to the group. For kids already steeped in the digital age, the addition of one more screen to their daily lives might be more seamless than for their bedraggled parents. Lu Yan, a 39-year-old university lecturer in Sichuan province, signed up for English classes for herself and her 10-year-old son via iTutorGroup. “Personally I still prefer to talk to my students in a physical classroom. That’s what I’ve been doing for the last decade,” she said. “But I won’t be surprised more and more classes will be moved online, because our kids were born and growing up with the Internet.” Bloomberg News

Marketing BusinessMirror

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Monday, March 2, 2020 E3

PowerPoint, productivity and the executive suite Part Two

because the action of physically writing something alters your brain structure so that you remember what you’ve learned.” Without note-taking, “most instruction is in-one-ear-and-out-the-other. Audiences retain next to nothing when just listening to a talking head, especially when the talking head is running interference for words on a screen behind them. Presentations are not teaching tools; they’re sleep aids.” James also shares a quick tip: “Start your course by asking the audience what they expect to learn” he says. “Record those expectations on an easel pad, hang the pages around the room and use them as touch stones as you work through the material.”

By Millie F. Dizon

Intelligence: Digital Shoppers Account for 75% of Total FMCG Sales in Philippines, according to Kantar’s Latest Research

MANILA, Philippines—Digital Shoppers now account for 75 percent of total fast-moving consumer goods (FMCG) sales in the Philippines, according to Kantar, the world’s leading data, insights and consulting company. Based on data gathered under its Digital Shoppers for Brand Growth research, Kantar looked into the purchasing behavior of Digital Shoppers across 3,000 homes nationwide from January 2016 to June 2019. “In this study, we define Digital Shoppers as those who have access to the Internet. We also observed how a Digital Shopper behaves holistically—both online and offline—studying their characteristics across various touch points. These cover where they shop, what products and how many they buy, and at what price they actually purchase the items for,” said Ledz Lim, expert solutions director, Kantar Philippines. Kantar finds that a Digital Shopper spends on average around P38,000 per year on FMCG products. This is P7,000 more compared to a non-digital shopper, who averages

about P31,000 per year. While Digital Shoppers have access to the Internet, they still continue to purchase FMCG products in Modern Trade channels, particularly in supermarkets and hypermarkets. In fact, in 2018, they spent P461 billion in these brick and mortar establishments. Moreover, Kantar estimates that by end of 2020, the purchases made by Digital Shoppers will grow by 25 percent.

The winning formula

According to data from Kantar, the local FMCG market remains dynamic. However, not all FMCG brands are able to sustain growth. Nearly half or 46 percent of the 300 FMCG brands it tracks registered growth in 2018, and this growth increased to 71 percent in 2019. On the average, Kantar notes that only 37 percent of these brands sustained their growth during the two-year period. To continue the growth momentum, FMCG brands need to identify new business opportunities in a seamless way. They need to develop and implement digital campaigns that will convince Digital Shoppers to buy their products in both online and offline channels. Capturing growth from Digital Shoppers, Kantar adds, requires designing, managing and properly evaluating digital brand engagements. The Kantar research emphasizes that for FMCG brands to have good digital media engagements, it is important to have the right sets of data to analyze. Companies must consistently track the dynamic purchasing behavior of Digital

If you want to entertain or inspire, give a speech

Chakkree Chantakad | Dreamstime.com

PR Matters

n last week’s column, we discussed how some of the world’s top executives liked to conduct their meetings. These are men known to be visionaries who have in their own way changed the way we think and do things. With that, time is precious for them, and in the light of a Harvard Business Review study that says that the average time people spent in meetings doubled from 10 hours a week in the 1960s to today’s average of 23 hours a week, it would be natural for them to want their meetings to be more streamlined and efficient. We also highlighted how in an article in Inc.com, Geoffrey James “PowerPoint’s Flaws Show the Fundamental Problems with All Business Presentations “illustrates how this tool that many of us use has actually hindered productivity by doubling the amount of time each week we spend in meetings that go on endlessly. They have, in fact, become “information dumping monologues.” He goes on to point out how “many CEOs have banned PowerPoint from their meetings including Amazon’s Jeff Bezos, Twitter’s Jack Dorsey, LinkedIn’s Jeff Weiner, former Microsoft CEO Steve Ballmer, and the late Steve Jobs.” But why this disdain for PowerPoint? James says that, “smart leaders hate PowerPoint because business presentations straightjacket meetings into a slowmoving liner direction. This discourages conversation and discussion, turning the other attendees into passive chair potatoes. PowerPoint, when used as designed, reduces attention, understanding, and worst of all, retention.” Carmine Gallo, author of “Five Stars: The Communication Secrets to Get from Good to Great,” goes further in her Inc.com article “Jeff Bezos Banned PowerPoint in Meetings. His Replacement is Brilliant” where she mentions that “narrative memos have replaced PowerPoint presentations at Amazon.” This a move she describes as “brilliant” because: n Our brains are hardwired for narrative. n Stories are persuasive. n Bullet points are the least effective way of sharing ideas. In an Inc.com article, “Power Point Makes Us Stupid. Here Are 3 Smarter Alternatives,” James says “it’s time to follow suit of the generals and billionaire CEOs and get out of the PowerPoint trap. But how? PowerPoint has become so ingrained into our day-to-day business activities that it seems impossible to function without it.” With that, he brings us back to a time before 1990 when nobody used Power

Point and business presentations were consequently rare to nonexistent.” What happened then was that “meetings were shorter and more to the point, with more discussion and better decisions.” Oh, that seems like a lifetime ago. But how did companies get along without PowerPoint? James says they used three different meeting tools built around the type of business meetings: n Decisions/Discussions; n Training Sessions; and n Public Addresses. Here, he suggests the techniques that work better than PowerPoint for each meeting type:

If you need to discuss and decide, use a briefing document

“Briefing documents are better than presentations when you’re driving toward a decision or consensus,” says James. This is because it “forces presenters to communicate with complete thoughts rather than mere outlines, and makes certain everyone is literally on the same page during the ensuing discussion.” It is said briefing documents reduce “the overall time spent in a meeting by 50 [percent] to 80 percent.”

Shoppers. They must also develop new information architecture that incorporates and combines multiple data sources into one cohesive map of the consumer purchasing journey. As FMCG brands explore using different technologies to further their growth, they should look into leveraging artificial intelligence (AI) for data analytics. This, coupled with superior data processing in the areas of predictive and prescriptive analytics, will help marketers make better decisions, and implement the right business applications. “Digital technology is playing a huge role in the growth of the FMCG market today. AI tools are essential in helping companies make the right decisions as they analyze the best approach and strategies to take when reaching out to either online or offline customers. A harmony of both human and digital elements will help achieve sustainable growth for brands’ products,” Lim adds.

Design: Air New Zealand Reveals GroundBreaking Sleep Pods Prototype for Economy Class Passengers with Skynest

NEW ZEALAND—The Economy Skynest is the result of three years of Air New Zealand research and development, with the input of more than 200 customers at its Hangar 22 innovation center in Auckland. The airline has today filed patent and trademark applications for the Economy Skynest which provides six full length lie-flat sleep pods. Air New Zealand Chief Marketing

He suggests one “handout paper copies at the beginning of the meeting and have everyone read the document. Then open the floor for discussion.” James also shares a quick tip: The ideal briefing document is a single page.

If you must instruct or train, create interactive experiences

James says that “if you want people to remember what they’ve learned, create an experience that allows your audience to participate in the learning process.” He adds that “you’ll do much better with traditional classroom materials—workbooks, easel pads, whiteboards, etc. To ensure your audience learns and retains, you’ll need to get your audience involved and not turn them into passive viewers.” He is not alone in his thoughts. John Paul Chou, an assistant professor of physics at Rutgers University says that with PowerPoint, “it’s easier to let your mind go autopilot, and you start to lose focus more easily.” He also makes a pitch for retention that may surprise many. James wants “the audience to take notes with pen and paper,

and Customer Officer Mike Tod says that as the airline operates some of the world’s longest flights, such as the upcoming Auckland-New York service at up to 17 hours and 40 minutes (one way), it is committed to putting more magic back into flying. “We have a tremendous amount of development work under way looking at product innovations we can bring across all cabins of the aircraft. A clear pain point for economy travelers on long-haul flights is the inability to stretch out. The development of the Economy Skynest is a direct response to that challenge,” Tod says. Air New Zealand will make a final decision on whether to operate the Economy Skynest next year after it has assessed the performance of its inaugural year of Auckland-New York operations. General Manager of Customer Experience, Nikki Goodman says customer and cabin crew feedback on the Economy Skynest during its final phase of development has been outstanding with significant partners also keenly involved. “We see a future flying experience where an economyclass customer on long-haul flights would be able to book the Economy Skynest in addition to their Economy seat, get some quality rest and arrive at their destination ready to go. This is a game changer on so many levels,” Goodman says. “We’re so excited to be sharing this product development with our customers. This is one of the highlights of three years’ intensive work centerd on customer well-

James says that, “if you’re speaking to a large group that’s not expected to participate in an interactive discussion, you should prepare [and rehearse] a speech rather than wing it with a presentation.” This would be good for keynotes, employee meetings, and product announcements. He adds that “the challenge in these situations is to create positive emotions in your audience. You want your audience to connect with you—and you want to connect with your audience. Anything that you put on a screen behind you is a distraction from that rapport-building process.” James shares another quick tip: “If you’re giving a speech, find role models, like TED Talks, and other types of speeches that have gotten huge traffic on YouTube. You’ll notice at once that they use graphics very sparingly, and never in the standard business-presentation bulletpoint format.” All in all, business documents, interactive exercises and speeches require quite a lot of work more than a presentation. These, however, “hone, and polish, your thoughts into something meaningful and complete—and, thereby, more respectful of your audience’s time and energy.” More than that, your audience will love you for it. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for marketing and communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

being. We’re sure this innovation is going to be a game changer for the industry and bring significant improvements to long-haul flying. We expect other airlines will want to explore licensing the Economy Skynest from us just as they have with the Economy Skycouch.” Air New Zealand’s Head of Airline Programs Kerry Reeves says “can do” is one of the airline’s key values and the Economy Skynest prototype is a tangible example of this. “At Air New Zealand, we continue to nurture a can-do attitude, we’re not afraid of being bold and trying new things. The question is never ‘can we do this’ but instead ‘is it right to do this for our customers?’ and, if so, ‘how will we do this?‘” “Our ability to take a good idea, to execute and deliver an innovation that works in our environment, our market and for our people and customers gives us an edge.” Reeves says the scale of the challenge in developing the Economy Skynest and working through its certification with the necessary regulators is immense compared with the development of the Economy Skycouch. “But it was a prize worth chasing, and one that we think has the potential to be a game changer for economy class travelers on all airlines around the world.”

Campaign Spotlight: Ogilvy & Mather and Pizza Hut unveil new pizza flavor with a clever viral offer MANILA, Philippines—As the leading pizza chain in the

Philippines, Pizza Hut continues to adapt and innovate. This applies not only to flavor, but also to service, food quality and technology. For its new pizza flavor, the Chili Cheese Stuffed Crust Pizza, Pizza Hut partnered with Ogilvy & Mather to help mount a clever viral campaign. On January 10, the pizza brand posted an announcement, which read: “We’re pouring the love, guys— free bottomless cold water!” The post quickly caught on, generating thousands of engagement on Facebook alone. The said post has 64K reactions, 22K comments and 41K shares as of this writing. Media outlets like S pot.phand We the Pvblicpicked up the viral story, taking to their readers to help decode why would Pizza Hut offer unlimited cold water to its diners. Pizza lovers from all over the archipelago put their bets in—Some thought it was an early April Fools’ joke. Others thought it signaled a collab with Mimiyuuuh, a YouTuber who made the “drink your water, b*tch” meme famous. Many Pizza Hut fans got it right: “Gotta be a spicy pizza behind this,” comments Facebook user Nesia Sawant. And on January 14, Pizza Hut unveiled its new Chili Cheese Stuffed Crust Pizza, which adds delectable chili pepper flakes to the pizza’s crust stuffing. The announcement drew raves from publications and pizza lovers alike. “They’ve been at this game– and ahead of it—for a long time,” notes Michiko Manalang of Spot.ph. “[The Chili Cheese Stuffed Crust] is probably a guaranteed hit.”

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E4 Monday, March 2, 2020

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Could coronavirus really trigger a recession?

A WOMAN wearing a face mask walks past statues of bulls in Beijing, February 28, 2020. Asian stock markets fell further Friday on spreading virus fears, deepening a global rout after Wall Street endured its biggest one-day drop in nine years. AP/MARK SCHIEFELBEIN

By Michael Walden

North Carolina State University

THE CONVERSATION

EARS are growing that the new coronavirus will infect the US economy.

US stocks are headed for their worst week since the 2008 financial crisis; companies including Apple and Walmart have been warning of potential sales losses from COVID-19 and the Centers for Disease Control and Prevention told Americans to prepare for the outbreak to spread to the United States, with unknown but potentially “bad” consequences. Lately, many people have asked me, as an economist, a question I haven’t heard in years: Could a virus really send the global and US economies into recession—or worse? Put more pertinently, will COVID-19 trigger an economic meltdown?

What a virus can do

THE worry is understandable; viruses are scary things. I’ve read my share of medical thrillers based on some new virus spreading throughout the globe killing millions, destroying businesses and almost ending civilization until heroes—super or not—contain it at the last minute. While these are works of fiction, we only have to look back 100 years to find a real example of what an unchecked virus can do. The 1918-1919 influenza pandemic, also known as the Spanish flu, killed at least 50 million people worldwide, with some estimates putting the number as high as 100 million. In the US, almost 1 of every 3 people became infected, and 500,000 died. Even

for those who survived, there were numerous cases of longterm physical disability. Fortunately, the adverse economic impacts were short-lived. With today’s more mobile and interconnected world, however, some suggest any large-scale pandemic would be much more severe, with costs in the trillions. To date, deaths from the coronavirus have been very small, totaling a little over 2,700 worldwide, out of more than 80,000 known cases—or only about 3.4 percent. Almost all of the deaths have been in China, where the virus was first detected. Rapid actions to quarantine infected individuals have likely limited the spread. Yet even if the death rates are relatively low, the economy can still suffer. These economic impacts would likely come in four forms: shortages of products from China, reduced sales to China, a drop in consumer spending based on fears about the virus and falling stock prices. Let me evaluate the potential impact of each, but bear in mind that they are all interconnected, and a drop in just one can affect the others.

Product shortages

THE US imports over $500 billion of products each year from China, everything from smartphones and televisions to clothing and machine parts. Sick people in China can’t work, which means they can’t

make products. Closing off parts of the country from other areas also curtails production. The reduced availability of Chinese products could slow some segments of the US economy, with the computer and electronics industries being the most vulnerable. For example, many smartphones sold in the US are assembled in China. Although US retailers have some inventory, shortages will likely appear if the pandemic persists. Americans are already beginning to see some impacts: for example, in shortages of dozens of drugs and other medical products and longer wait times for a variety of products such as bicycles and board games. It’s too early to say how severe it will get, but the dependency of US supply chains on China is a major concern. It shows how something like the coronavirus could become a huge problem in the modern economy.

Sales may take a hit

ON the flip side, US companies sell well over $100 billion of products to China annually, with the most important being technology like computer chips and agricultural products such as soybeans. These sectors have already taken a hit from the tariffs imposed by China during the US-China trade war of the last two years. The recent thaw in the conflict—and a limited deal with China—had created optimism for US factories and farms that increased sales were around the corner. That corner may be harder to reach as a result of the coronavirus outbreak and its significant impact on the Chinese economy. More US companies are now worrying about their sales to China as a result.

Consumers still spending

ULTIMATELY, more than any-

ONE THING TRADERS AND INVESTORS ABSOLUTELY DO

NOT LIKE IS UNCERTAINTY. AND THAT’S WHAT WE HAVE

RIGHT NOW: NO ONE, NOT EVEN ME, KNOWS HOW BAD

THE OUTBREAK WILL GET OR WHAT THE IMPACT WILL BE ON COMPANIES, CONSUMERS AND THE ECONOMY. thing, the spending of consumers drives the US economy, accounting for roughly 70 percent of growth. Economists, policymakers and traders will be closely watching measures of this to help them understand how worried they should be. Significant declines in spending are usually the most direct cause of a recession and often signal falling incomes and higher unemployment. But consumers also reduce spending as a result of fear—such as when they see traders panicking on Wall Street. That is, nothing actually bad has to happen to reduce spending, and this fear-induced penny pinching can have real-world consequences and even trigger a recession. We saw this happen with the SARS virus in 2003, which resulted in 700 deaths worldwide. Consumer confidence about the future dipped, and so did spending, especially on durable products like appliances, vehicles and furniture. Fortunately, the dip was shortlived, and no recession resulted. Although coronavirus-related deaths already exceed those from SARS, consumer confidence has not yet been affected. The latest data, released on February 25, shows it continued to rise in February, albeit at a slower-than-expected pace and based on a survey taken before the recent stock market swoon. And measures of consumer spending like retail sales are also still growing, if at a subdued rate.

Also, there could be two positive offsets from the virus that will boost consumers. One is a reduction in interest rates that has already occurred and will be welcome news for people borrowing money for a home or vehicle. Second is a drop in oil—and, ultimately, gas— prices that will mean less money to be paid at the pump. So it appears, for now, that consumers are more focused on jobs, incomes and gas prices than on COVID-19.

A rocky road for stocks

LASTLY, let’s look at the impact on stocks. One thing traders and investors absolutely do not like is uncertainty. And that’s what we have right now: No one, not even me, knows how bad the outbreak will get or what the impact will be on companies, consumers and the economy. Until we have a good idea of how much the virus will spread and whether containment efforts will be successful, markets could remain wobbly. The Standard & Poor’s 500 stock index has plunged more than 10 percent since February 21, ending a bull market that lasted 12 years. A falling stock market could affect the real economy in a number of ways, including by sapping consumer confidence and reducing their spending. But just as a bout of bad news can send markets into a tailspin, a

reason for optimism could cause a rebound just as fast.

Brace for impact –and uncertainty

FOR now, we’ll all—traders, companies, consumers—have to just live with uncertainty, not knowing just how bad it will get. The best all of us can do is monitor the situation and take precautions to prevent its spread— and be ready if it does. A key measure to watch is the trend in the number of new cases reported worldwide. A reduction is often a sign the virus is running its course. However, a jump in cases could be cause for alarm, especially if the increase is large. Companies and industries in the US having strong ties to China or other countries with major infections could be in for a rocky road ahead, but with any luck the challenges will last weeks or months—not years. As long as US consumers continue to spend, the economy will continue to expand, and there’s little risk of recession. If the stock market tumbles further, however, all bets may be off. This article is republished from The Conversation under a Creative Commons license. Read the original article here: https://theconversation. com/could-coronavirus-reallytrigger-a-recession-132552.