BusinessMirror March 13, 2019

JAN. TRADE GAP WITH CHINA A THIRD OF TOTAL By Cai U. Ordinario @caiordinario

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HE country started the year incurring a trade deficit of $3.76 billion, with China registering a trade surplus of $1.36 billion with the Philippines in January, according to official government data released on Tuesday. Data from the Philippine Statistics Authority (PSA) showed that in January, imports from China amounted to $2 billion, while exports only reached $640.79 million. The trade deficit with Beijing accounted for a third of the total trade deficit of Manila in January. The total trade deficit of the Philippines during the period was the largest since October 2018, when the

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deficit was at $4.08 billion. Apart from China, the Philippines also had its largest trade deficits with South Korea and its Asean peers, namely Indonesia, Thailand and Vietnam. South Korea has a trade surplus with the Philippines worth $584.13 million followed by Indonesia with $438.76 million; Thailand, $360.73 million; and Vietnam, $267.43 million. Imports from South Korea reached $789.56 million while exports only amounted to $205.43 million; imports from Indonesia, $502.46 million and exports of $63.7 million; imports from Thailand, $602.67 million and exports of $241.93 million; and imports from Vietnam, $356.86 million and exports of $89.43 million. Among its major trade partners, the

A broader look at today’s business

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Wednesday, March 13, 2019 Vol. 14 No. 154

Moody’s: PHL economy strong amid headwinds

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By Bianca Cuaresma

@BcuaresmaBM

NTERNATIONAL credit watcher Moody’s Investors Service announced that it has assigned a “high” economic strength to the credit profile of the Philippines, owing largely to its robust growth amid global headwinds. Moody’s made the announcement after the credit watcher completed its periodic review of Philippine economic dynamics. Christian de Guzman, Moody’s vice president and senior credit officer, said the ability of the

Philippines to post a relatively strong growth balances out the fact that the country still has a low GDP per capita compared to similarly rated peers. For other metrics, Moody’s gave a “moderate” rating to the coun-

try’s institutional strength, taking into account a “long track record of maintaining broad monetary and financial stability.” Moody’s also took note of the country’s recent progress in addressing long-standing weakness in revenue generation

as compared to peers. A moderate assessment was also given to the Philippines’s fiscal strength, reflecting a moderate government debt burden coupled with weaker debt affordability compared to its peers, although this has improved significantly over the past decade. Moody’s also assigned a “low” assessment to the country’s susceptibility to event risk driven by domestic political risk and banking sector risk. Robust capitalization, liquidity and profitability mitigate event risk, the credit watcher said. Last month, the credit watcher lauded the economic laws enacted by the government, as these will enhance the macroeconomic and financial stability of the Philippines. See “Moody’s,” A2

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Japan: Main driver of Mindanao’s growth Teddy Locsin Jr.

FREE FIRE Opening statement of Foreign Affairs Secretary Teodoro L. Locsin Jr. on the inauguration of the Consulate General of Japan in Davao on February 10, 2019, at Waterfront Insular Hotel, Davao City.

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OUR Excellency Taro Kono, Foreign Minister of Japan; Ambassador Koji Haneda, Consul General Yoshiaki Miwa; Davao City Mayor Sara Duterte; colleagues in government; ladies and gentlemen; good evening. Continued on A14

Duterte calls Congress leaders on budget row “You know the style of the President—he listens. He listens and lets the protagonists settle among themselves—in other words, he will just be a moderator.” —Panelo

@butchfBM

& Bernadette D. Nicolas

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By Bianca Cuaresma @BcuaresmaBM

IZAL Commercial Banking Corp. announced on Tuesday that it is suing the Bangladesh central bank for allegedly defaming RCBC and its executives with “baseless allegations” of complicity in the $81-million cyber heist of Bangladesh’s central bank in 2016. In a statement, the bank said the lawsuit was filed with the Regional Trial Court in Makati City on March 6 and was served on Abu Hena Mohammad Razee Hasan, deputy governor and head of Bangladesh Bank Financial Intelligence Unit (BFIU), and the other members of the Bangladesh Bank delegation that arrived in the Philippines this week for meetings with banking officials. RCBC indicated in the complaint that its reputation has come under the “vicious and public” attack by Bangladesh Bank since 2016. “It is public knowledge that Bangladesh Bank has embarked on a massive ploy and scheme to extort money from plaintiff RCBC by resorting to public defamation, harassment and threats geared toward destroying RCBC’s good

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RCBC suing Bangladesh central bank for defamation

See “RCBC,” A16

See “Trade gap,” A2

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Philippines only has a trade surplus with four economies led by Hong Kong, China, at $338.58 million; United States, $183.19 million; the Netherlands, $149.67 million; and Japan, $95.95 million. With this, the country’s trade deficit was the largest in East Asia at $1.769 billion followed closely by the Asean at $1.402 billion. The country also has a $7.61-million trade deficit with the European Union. However, the National Economic and Development Authority (Neda) said hope springs eternal for the Philippines as certain developments, most notably the conclusion of the Regional Comprehensive Economic Partnership (RCEP) agreement this year, will help the country boost its exports and narrow its trade deficit.

LABORERS at MRT 7 work overtime to meet the deadline for the latest addition to the country’s mass transit system. The Metro Rail Transit (MRT) Line 7 will have 22.8 kms of elevated line from North Avenue, Quezon City, to San Jose del Monte, Bulacan. The new line will have 14 stations. Economists have expressed concern that vital projects under the flagship infrastructure program might be affected by the prolonged delay in passage of the 2019 budget. NONIE REYES

DA nixes bid to import palay on risk of pests

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HE Department of Agriculture (DA) has thumbed down the proposals of some firms, such as San Miguel Corp. (SMC), to import unhusked rice or palay to avert the entry of foreign pests that could affect the local rice industry. “We will not allow the importation of palay—of unhusked rice—because this

PESO EXCHANGE RATES n US 52.2040

could pose danger [to our local rice]. Importing palay could bring in pests and diseases to the country,” Agriculture Secretary Emmanuel F. Piñol said in a news briefing on Tuesday. Piñol made the pronouncement after conglomerates, such as SMC and other companies, signified interest to import palay after the government

liberalized the rice industry. Piñol argued that the DA has the right to block importation of such agricultural commodity to ensure that the local rice industry would not be endangered. “We still reserve the right and hold the power to ensure that imports are safe. See “DA,” A2

@BNicolasBM

N a bid to avoid the costly economic consequences of further delays in the passage of the proposed P3.757-trillion national budget for 2019, President Duterte finally decided to intervene in the brewing standoff between the Senate and the House of Representatives. He called for a meeting with Congress leaders on Tuesday night, and Malacañang said in a briefing the likely purpose of that meeting was to help the two Houses settle their differences on the budget, sparked by allegations of “manipulation” of the final version from the bicameral conference committee even after such was ratified separately by the two chambers. Asked what could be the talking points of the President during the meeting, Presidential Spokesman Salvador S. Panelo said: “You know the style of the President—he listens. He listens and lets the protagonists settle among themselves—in other words, he will just be a moderator.” On getting the presidential invitation, Senate President Vicente C. Sotto III said he asked—and Duterte agreed—for permission to bring along Senate President Pro Tempore Ralph G. Recto, Majority Leader Juan Miguel F. Zubiri, Finance Committee Chairman Sen. Loren Legarda, Sen. Panfilo M. Lacson Sr. and Legislative Budget Research and Monitoring Office (LBRMO) chief Yolanda Doblon. “Kagabi pinatawagan ako ng Presi-

dente. Ang sabi sa akin, pumunta ako. Sabi ko, ano ang pag-uusapan? Budget daw. Sabi ko, puwede ko bang isama ’yung mga kasama ko? Si Loren at si Atty. Doblon? Siyempre si Ping? Oo daw [Last night, the President instructed someone to call me. I was told to go to the Palace. For talks on the budget. I asked, may I bring along Loren and Atty. Doblon? And of course, Senator Ping? They said yes],” Sotto said. On the suggestion of Legarda, Sotto said he asked Senators Recto and Zubiri to join them. “That is the background, so now, I don’t know who else the President invited on the part of the House.” Asked if he was informed that Speaker Gloria Macapagal-Arroyo would also be invited to the Palace meeting, Sotto replied it was the President that extended the invitations, adding: “Sino man ang nandoon, siya nag-imbita.” Sotto indicated in the same interview that senators are likely to stick to their position of supporting the Senate version of the 2019 budget bill. “Presently, our stand is that we sent the President what we ratified. That is our stand,” Sotto said. He asserted this was the way to end the stalemate “because that is the only legal way, there is no other legal way.” See “Budget,” A2

n JAPAN 0.4695 n UK 68.6691 n HK 6.6504 n CHINA 7.7593 n SINGAPORE 38.4475 n AUSTRALIA 36.9030 n EU 58.7399 n SAUDI ARABIA 13.9203

Source: BSP (12 March 2019 )

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75K farmers in Bicol to bear brunt of El Niño

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By Jasper Emmanuel Y. Arcalas

@jearcalas

T least 75,000 farmers planting rice, corn and high-value crops in 75,000 hectares in Bicol region are likely to be affected by hotter weather brought by the weak El Niño affecting the country right now, according to Department of Agriculture (DA). Based on the assessment of the DA regional field office (RFO) V, rice farmers would be the most affected by the weather phenomenon. The DA-RFO V projected that 44,952 hectares of rice farms and 45,383 rice farmers are “vulnerable and likely to be affected” by El Niño. “For corn, an estimated 28,918 hectares and 28,921 farmers are

also expected to be affected. These are mostly the rainfed and upland areas and those at the tail end of irrigation systems,” the DA-RFO V said in a news release on Tuesday. For high-value crops, the DARFO V said about 484 hectares and 916 farmers are likely to be affected. T he DA-R FO V said it has prepared contingency measures

following the directive of Rodel P. Tornilla, the OIC-regional technical director for operations and Extensions. “The first strategy will be maximization of production in less vulnerable areas. The second is saving production in vulnerable areas and the third will focus on rehabilitation of affected areas,” it said. The DA-RFO V said they have received reports that some towns in the region are already experiencing a “long dry spell with below normal rainfall.” The DA-RFO V said it has already requested P28 million from the DA Central Office, which will be used to provide fuel subsidy to farmers who will be likely affected by El Niño. “Moreover, it targets to install an additional 200 units of Pump Irrigation from Open Sources [Pisos]. To forestall pest infestation pesticides,

₧464.27M Losses incurred thus far by 16,034 Filipino rice and corn farmers in six regions, according to the Department of Agriculture

insecticides and fungicides will be distributed to rice farmers,” it said. “Similarly for corn farmers and HVCDP fuel subsidy, distribution of Pisos are being considered as interventions along with distribution of sprinklers and HDPE pipes and plastic drums for HVCDP farmers,” it added. The DA-RFO V said it will also provide farmers in less vulnerable areas with planting inputs such as high-yielding palay seeds, hybrid corn seeds, fertilizers and vegetable seeds. The office is now also promoting

Budget. . .

Continued from A1

Sotto cited an existing rule that “you cannot touch the budget, or any law, after it was already ratified by both Houses. “Iftheyaretalkingaboutrealignments, as what is being talked about, they should have done it before the budget bill was ratified.” He wondered aloud: “Why were they so quick in ratifying the budget bill, then took their time in enrolling the bill?” Meanwhile, Panelo said whatever the outcome of the meeting is, it will lie not only on the President but will also depend on the two Houses. “The goal of all branches of government is to unite and have as a goal the welfare of the people,” he said. As Chief Presidential Legal Counsel, Panelo also refused to give his legal opinion on the matter since it was not raised before him. The Senate and House lawmakers are bickering over claims that the bicameral conference committee report reconciling the two chambers’ versions was “manipulated” even after it was ratified on February 8.

Trade gap. . . Continued from A1

Neda said the RCEP aims to achieve greater market access for goods, services and investments, and provide businessfriendly and trade-facilitative rules for businesses and investors among its 16 member-economies. “The RCEP would significantly benefit exporters considering that its membereconomies—which include Asean countries, Australia, China, India, Japan, Korea and New Zealand—constitute a third of global output and more than a quarter of the world’s population,” Socioeconomic Planning Secretary Ernesto M. Pernia said. Data released by the PSA showed the country’s total merchandise trade grew by 2.9 percent, reaching $14.3 billion in January 2019. However, the trade deficit also grew 18.75 percent to $3.756 billion

T-bonds. . . Continued from A16

Tenders for the security were almost thrice oversubscribed at P54.603 billion. “And then there’s also of course news about possible easing by the BSP [Bangko Sentral ng Pilipinas] given the pronouncements of [Central Bank] Governor [Benjamin E.] Diokno in his interview. So we

Moody’s. . . Continued from A1

On February 15, President Duterte signed a number of bills into law, including the “Act Providing for Reasonable Rates for Political Advertisements”; Republic Act (RA) 11211, or the New Central Bank Act; the

drought-tolerant rice varieties and drought-mitigating technologies to combat hotter temperature which is expected to peak in May. It bared plans to intensify its “irrigation support for small irrigation systems such as the Shallow Tube Wells, Small Water Impounding Projects, Diversion dams, solar pump, wind pump, drip irrigation, drums, etc.” The DA-RFO V said cloud-seeding is not a recommended measure in the region as it may affect productivity of other crops such as mango. The regional office also noted that the hotter temperature would also detrimentally affect the livestock and poultry sectors. “The occurrence of El Niño might also cause heat stress to livestock and poultry production, as well as affect the pasture areas for small and large ruminants,” it said.

“You know, as a lawyer, I always say that there are as many opinions as there are lawyers—it’s a grey area. It’s a grey area, it’s...the Supreme Court will have to decide on that. But they don’t have to raise that as an issue, they can just agree with each other,” he said. On Monday night, Duterte signaled that he would rather pay the economic price of extending the reenacted 2018 budget than sign a budget law that will be subject to legal challenge. He lamented the possible decline in the country’s GDP growth if the 2019 budget would be further delayed, and acknowledged all sectors will be hurt. “I will not sign anything that would be an illegal document. Magkaroon tayo ng slide sa GDP niyan [We’re going to see a slide in the GDP] if we are going to reenact the budget. Everybody will suffer, including the law enforcement,”he said in a speech at the awarding ceremony for the Outstanding Women in Law Enforcement and National Security of the Philippines at Malacañang.

SEN. Lacson said on Tuesday that “if the

House of Representatives’ leadership is indeed supportive of the administration’s legislative agenda, it should take a hint from President Rodrigo Duterte in not signing an illegal budget.” Lacson added the Chief Executive was “correct in not signing anything that would be an illegal document. “He [the President] is correct. What I can’t understand is why the House leadership cannot take the hint from President Duterte himself.” Lacson noted that besides the manipulation, the House leadership slashed a whopping P72.319 billion from the Department of Public Works and Highways’ Major Final Output (MFO) 1 and 2 totaling P216 billion, an amount he said was realigned to the pet projects or pork barrel of House members. “Speaker Arroyo said she is in full support of the President’s agenda, but look at what they have done,” Lacson said, noting that the MFO 1 and 2 refer to institutional projects, many of which had undergone years of planning. These include the Asset Preservation Program, Network Development Program, Bridge Program, Flood

in 2019, from $3.163 billion in January 2018. January’s trade performance is largely due to a rebound in imports, which grew by 5.8 percent to $9.035 billion, from $8.536 billion in January 2018. Neda said this growth was supported by increases in the import values of consumer goods, capital goods and raw materials and intermediate goods. Exports, meanwhile, recorded a 1.7-percent contraction to $5.279 billion in January 2019, from $5.373 billion in 2018. Neda said the decline was due to lower receipts from manufactures and minerals which offset the gains in exports of forest and total agro-based products. “The Department of Agriculture is currently in talks with Singapore, Russia and Monaco for possible arrangements to increase Philippine agricultural export products to these countries,” Pernia said. Pernia also said exporters are strongly encouraged to explore opportunities

in emerging sectors and to respond to increasing market demand for other nontraditional exports to broaden exports base. Meanwhile, imports growth is still seen to be constrained by the delayed approval of the 2019 national budget and the election-spending ban. Nonetheless, the economic team has formally requested the Commission on Elections to exempt at least 145 priority infrastructure projects from the election ban to minimize delays while mitigating its effects on economic growth. The Comelec has yet to decide on the request of the Neda, the Department of Finance and the Department of Budget and Management. The fate of these projects continues to hang in the balance. “The importation of raw materials is likely to be affected by the holdback in the implementation of numerous projects under government’s ‘Build, Build, Build’ program,” Pernia said.

think those are the catalysts for these rates,” he added. In his first news conference last week, Diokno said he sees a downward path for inflation. Inflation eased to 3.8 percent in February from 4.4 percent in the first month of the year. The Monetar y Board is expected to meet on March 21—Diokno’s first—and may discuss its policy stance on this development. Last week, the BTr closed

the sale of its 22nd tranche of retail treasury bonds, raising a total of P235.935 billion. The RTB bears a five-year maturity at a coupon rate of 6.25 percent. During its rate-setting auction on February 26, the BTr awarded P113.772 billion, which is nearly four times oversubscribed from the initial offering of P30 billion, as market investors showed strong appetite for the government security. Rea Cu

Social Security System (SSS) Rationalization Act; and Republic Act 11203, or the rice trade liberalization law. Moody’s said two of these new laws—the rice trade liberalization law and RA 11211—are “credit positive” for the country’s economy. Moody’s currently rates the Philippines at Baa2 with a stable outlook.

“ T h e R i c e Ta r i f f i c a t i o n scheme, effective March 5, eliminates quantitative restrictions on rice imports, replacing them with tariffs. We expect the expected increase in the volume of rice imports will diminish the price volatility of rice, helping to insulate Filipino households’ consumption to adverse agricultural shocks,” Moody’s said

Take the President’s hint–Lacson

“The regional office has thus buffer-stocked vitamins, biologics, dewormers. It has also provisions for feed supplements,” it added. Damage to the farmer sector caused by El Niño has more than tripled to over P460 million, from the initial estimate of P150 million, according to the latest report by the DA. The DA report indicated that 16,034 Filipino rice and corn farmers in six regions have inc u r re d los s e s a mou nt i n g to P464.27 million. El Niño has affected 13,679 hectares of rice and corn farms in Mimaropa, Zamboanga Peni nsu l a , Nor t her n Mi nd a n ao, Davao region, Soccsksargen and the Bangsamoro Autonomous Region in Muslim Mindanao. The total production loss was placed at 22,918 metric tons. Management Program, Convergence and Special Support Program, including the “Build, Build, Build” legacy project of the administration.

Economic loss

INITIAL numbers conveyed to senators by the Department of Finance, according to Senator Panfilo M. Lacson, showed a pushback of the budget approval until August could mean losses of P500 million daily to the economy, which, in turn, will shave off at least 1.5 percent from the GDP growth targets. The Development Budget Coordination Committee (DBCC) targets GDP growth at 7 to 8 percent in 2019 until 2022 annually. Due to Congress’ failure to approve the proposed 2019 budget before year-end last year, the government is operating under a reenacted budget at least for the first quarter of this year. No new projects can start until the 2019 General Appropriations Act is approved. This is also the first time that the government is operating on a reenacted budget under the Duterte administration.

DA. . .

Continued from A1

We are invoking our right under the WTO [World Trade Organization] to do such,” he said. “We reserve the right to protect the local industry. And we still have powers over sanitary and phytosanitary measures, and we invoke that,” he added. Piñol said DA technical staff have long recommended blocking such importation due to risks posed to the local rice industry. The agriculture chief disclosed some firms had wanted to import palay even before the rice trade liberalization (RTL) law was enacted. Piñol did not name the firms. Piñol said it is lucrative for some firms to import palay instead of milled rice as it has a longer shelf life and could utilize the bran as a raw material in manufacturing animal feeds. “It is a risky proposition. But we are not stopping them from importing milled rice,” he said. Last year, SMC expressed interest to venture into the rice trade by importing palay abroad and milling it locally as it has the capacity and equipment to do such. Palay was included in the rice products that were liberalized by the RTL law as it is under the tariff heading of 10.06.

Jasper Emmanuel Y. Arcalas

in its research note. “The amendment to the BSP’s charter expands its supervisory oversight over nonbank financial institutions such as money service businesses, credit granting businesses and payment system operators, which will enhance financial stability given the linkages between the banking system and these entities,” it added.

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

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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Wednesday, March 13, 2019

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In the ad material of Notice of filing of Application for Alien Employment Permits published on February 22, 2019, the Company name and Address of Mr. Monzer, Majd should have been read as GLOBAL CATERING SERVICES CORPORATION located at NAIA, Brgy. 201, Pasay , Metro Manila and not as published. While in the application published on January 18, 2019, the position of Mr. Van Wuijckhuijse, Johannes Barend under EAST WEST AGEAS LIFE INSURANCE CORPORATION should have been read as Chief Operating Officer and not as published. While in the application published on March 6, 2019, the position of Ms. Li, Huan under ACSTREAM MANAGEMENT INC. should have been read as Mandarin Customer Service Specialist and not as published. If you have any information/objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400 6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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Raging offensives in Sulu, Maguindanao kill 22 IS-affiliated terrorists–military

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By Rene Acosta

@reneacostaBM

T least 22 terrorists affiliated with the international terrorist group Islamic State (IS) were killed in ongoing offensive operations in the provinces of Maguindanao and Lanao del Sur, the military reported on Tuesday. Among those who were reportedly killed were Mauiyah, a Singaporean reputed to be the only remaining leader of the regional terror group Jemaah Islamiyah still in the country, and Salahudin Hassan, alias Abu Toraife, leader of one of two factions of the Bangsamoro Islamic Liberation Front that have pledged allegiance to the IS. “The operation is continuing. Our last encounter was midnight last [Monday] night and we have inflicted more casualties from the side of the enemy with the bodies shredded into pieces that is why we could

not officially come up with the exact body count,” said Major Gen. Cirilito Sobejana, commander of the Army’s 6th Infantry Division. “But we have some reports that some of those who [were] killed in yesterday’s [Monday] encounter until midnight last [Monday] night already reached almost 20, and some of them are high value targets or high value individuals, meaning commanders and sub-commanders that include Salahudin Hassan, Mauiyah and Commander Bastardo,” the Army official added. The intense operation against

the group of the terrorist leaders by about 200 troops began at around noon on Sunday at Barangay Inaladan, Shriff Saydona Mustapha, Maguindanao, with Air Force planes, bombers and gunships dropping bombs and striking the terrorists’ formation with rockets. The bandits who were in the group of up to 120 fighters during the initial assault were also pounded with heavy firepower, such as howitzers and mortars before ground troops moved in and engaged them in skirmishes that intermittently raged all day, according to Sobejana. “It started with a bomb run followed by rockets from our MG-520 [helicopters] and then indirect fires from our howitzers before we did the ground maneuvers that resulted in multiple encounters,” said Sobejana, wherein initially, two bandits were killed along with one soldier. However, the casualties from the group of Mauiyah and Hassan built up as the military sustained its air and ground assault up to Monday evening, with the Sin-

gaporean and Hassan reportedly among those killed. As of Tuesday, the soldiers have already partially controlled the area, which, along with the su r rou nd i ng ba ra ngays even from adjoining municipalities, is a known stronghold of Hassan’s group and is fighting desperately to stop its complete fall into the hands of the government. “This is their stronghold and so we are now occupying some of the areas that they have control before. Our objective now is to control the whole area that is we expect more resistance in the next few minutes, few hours and few days,” Sobejana said, vowing the operation will be sustained until the terrorists are rooted out from the barangays. The regional military commander said indirect fire support, including mortar fire and even rockets from planes and helicopters were again delivered on Tuesday morning, while additional ground forces poured into the battle areas in order to purse the group which has already splintered into smaller cliques.

In Lanao del Sur, soldiers were also in pursuit with the group of Abu Dar following the encounter with remnants of the Maute-IS fighters at Barangay Padas in Pagayawan, Lanao del Sur, where two terrorists were killed, along with two soldiers. Abu Dar was initially reported as the one who took over the reign of the Maute-IS leadership in the country after the death of Isnilon Hapilon during the siege of Marawi City in 2017, but a report issued by the United States said Hatib Hadjan Sawadjaan is leading the local IS fighters in the country. The government said that Sawadjaan’s group was behind the Sulu bombing in January this year that killed 23 people and wounded 95 others. Col. Romeo Brawner, commander of the 103rd Brigade, said they followed the group of Dar, which is mobile with more than 30 men, until they encountered them on Monday afternoon. “Until now, the operation is continuing,” Brawner said on Tuesday.

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Seven Chinese who kidnapped compatriot nabbed in Pasay City condo

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HE National Bureau of Investigation on Tuesday presented to the media seven Chinese nationals who kidnapped and mauled a fellow Chinese. The seven suspects, identified as Luo Gen Jin, Cheng Yiguo, Liu Shenghui, Deng Shuijin, Xiong Jinxiang, Xiong Jongpeng and Xiong Jilong, were nabbed in separate operations conducted by NBI operatives in Pasay and Parañaque on March 10. The suspects were positively identified by the victim Jian Shi Xin as his abductors, who demanded P200,000 in exchange for his freedom. Jian told the NBI operatives that he was abducted at Okada Manila in Parañaque City, and was detained and beaten in a room at Balagtas Royale Mansions in Pasay City. Upon payment of the sum by his brother, Jian was released by the kidnappers near the City of Dreams in Parañaque City. The responding lawmen found five of the kidnappers at the Balagtas Royale Mansions, while follow-up operations yielded the two other suspects at Solaire Resort and Casino. PNA with Joel R. San Juan

DILG’s Año calls for stronger Asean cooperation against human trafficking

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EPARTMENT of the Interior and Local Government (DILG) Secretary Eduardo

M. Año urged delegates of the recent Asean Consultative Meeting in Bohol to strengthen regional and interna-

tional cooperation and coordination “in crushing all instances of human trafficking and modern slavery.”

This, as the DILG chief joins the Asean senior officials who have affirmed their commitment to combat human trafficking “head on.” At least 78 senior officials from the 10 member-countries of the Asean have pledged “to work more aggressively and decisively” in implementing the Bohol Trafficking in Persons (TIP) Work Plan. “Let us be the victims’ voices, saviors and protectors. Together, let us send the message to everyone that human trafficking has no place in Southeast Asia,” Año, who is also Asean Ministerial Meeting on Transnational Crimes Leader-Philippines, said in a news statement. “For ever y success that we achieve, one family will be happier and safer,” he added. The meeting was attended by Asean Senior Officials Meeting on Transnational Crime (SOMTC) delegates from Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, and representatives from other Asean sectoral bodies. According to Año, trafficking in persons remain one of the toughest transnational crimes yet to be solved.

“It is a somber thought that as we speak, victims of human trafficking are left at the mercy of their captors, and rendered completely incapable to defend themselves,” he said. Año said the Philippines has been “ardently trying to put an end to the TIP problem” by doubling its efforts against human trafficking incidents related to the illegal recruitment of overseas Filipino workers and child labor. “With the leadership of a President who is famous worldwide for his stand and passion to battle illegal drugs, corruption, insurgency and criminality, the Asean may rest [be] assured that the Philippines will not be deterred in this fight against TIP,” he said. The Bohol TIP Work Plan 2017 to 2020 or the Asean Multi-Sectoral Work Plan serves as the guide to all nine sectoral bodies to implement anti-trafficking initiatives in the Asean region. According to the 2018 index, there are about 40.3 million victims of human trafficking worldwide, with one in 10 victims thought to be within Asean member-states. Asean region has the second highest global prevalence rate with 6.6

victims of human trafficking for every 1,000 population. SOMTC Philippines Chairman and DILG Undersecretary Bernardo C. Florece Jr. said that the annual figure of human trafficking cases may be high but it is actually possible to bring it down by a significant level. “When we break down this enormous number to bite size figures, we will realize that this transnational crime of human trafficking can be lowered down through stronger collaborations, international cooperation, and closer ties between and among the Asean member-states and sectoral bodies,” Florece said. He said that while there had been tremendous accomplishments on anti-human trafficking in the region, there is still much to be done especially on the justice system to further strengthen the efforts of all Asean member-states in combating TIP-related offenses. During the two-day event, they took turns sharing their best practices on anti-human trafficking efforts. They also crafted a mechanism to move forward as one Asean family in taking actions against human trafficking. Jonathan L. Mayuga

PHL a ‘strong’ regional logistics market By Roderick L. Abad @rodrik_28

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HE Phi lippines has been ranked among the strongest clusters of emerging markets in Southeast Asia, thanks to business-friendly conditions and core strengths, according to a logistics survey of 50 nations globally. Overall, the Philippines got the No. 20 slot, with a score of 4.96, in the Agility Emerging Markets Logistics Index 2019 of Transport Intelligence (Ti), one of the world’s leading providers of expert research and analysis dedicated to the international logistics sector. It joins the roster of its peers, such as Indonesia (No. 4), Malaysia (No. 5), Vietnam (No. 10), and Thailand (No. 11). Based on three key areas for logistics market development the study examined, the Philippines is ranked 15th, with a score of 5.03 in Domestic Logistics Opportunities; 14th, 5.15 points, International Logistics Opportunities; and 34th, 4.40 points, Business Fundamentals. Though the country makes it to the first half for both local and global logistics opportunities, it trails behind its neighbors

to belong to the second half for business fundamentals sub-index, mainly due to the failure of the egislative and judiciary system to ensure protection of investments and contracts. Emerging markets’ trade volume growth has slowed down over the last couple of years, per the study. From January to September 2018, monthly and year-on-year (YoY) increase has averaged 6.2 percent for imports and 3.3 percent for exports. The corresponding means for 2017 were 7.2 percent and 4.3 percent, respectively. Region-wise, trade expansion has been robust in emerging Asia, with average import volume growth of 7.4 percent and export volume growth of 4.8 percent. Looking at the trade section that gauges the volume of goods delivered by air and sea between the emerging markets included in the Index and the United States or European Union (EU), Southeast Asian nations show a notable strength. The Philippines has the fastest growing trade lane, registering the highest air freight volume to the US at 29,908 tons in 2018, or 59.5 percent higher than the recorded 18,748 tons in 2017. It is the 23rd, on the other hand, in terms of de-

livering goods to the EU, which grew by 5.3 percent from 21,368 tons to 22,500 tonnes YoY. By sea, the country is the 13th top shipper of items to the EU at 1.9 million tons, or 17.7 percent higher than 1.6 million tons a couple of years ago. Shipping 6.9 million tons of goods in 2018, it has the 22nd fastest trade lanes to the US. This represents a hike of 10.1 percent, from 6.2 million tons in 2017. External factor weighs in the survey respondents’ perspective toward the performance of the entire Southeast Asian region. The ongoing trade tensions between the US and China, for instance, have an impact on them. It is noted that the latter leads again the Index for the ninth consecutive year. In this year’s edition, China is graded first overall and tops both the domestic and international logistics opportunities sub-indices. Considering the role of most of the 10 member-states of Asean in feeding the Chinese supply chains while competing with manufacturers in China, the question on whether there is a trade war coming between the world’s most populous country and the superpower matters a lot.

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GSIS tells LLDA: We don’t pollute Manila Bay By Rea Cu

@ReaCuBM

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HE Government Service Insurance System (GSIS) on Tuesday maintained that it is compliant with the Laguna Lake Development Authority’s (LLDA) regulations in meeting the standards of the Department of Environment and Natural Resources (DENR) on the discharge of its wastewater. In a news statement, the GSIS said that it has been compliant with LLDA regulations and has been consistent in submitting quarterly self-monitoring reports, and urged the LLDA to revoke the notice of violation accusing the agency of contributing to the pollution of Manila Bay. “In the interest of fairness, we are requesting LLDA to revoke the notice of violation issued to GSIS at the height of the Manila Bay cleanup drive. It turns out that the basis of this alleged violation was the test where LLDA representatives used water samples taken from the inlet of the last stage of treatment and not at the exit stage of our sewage treatment plant [STP],” GSIS President and General Manager Jesus Clint O. Aranas said. The GSIS also said that it is a staunch advocate of environment protection as shown in its corporate social responsibility projects which include its support to the rehabilitation of Manila Bay. Meanwhile, the GSIS sent its recommendation to President Duterte in line with increasing the minimum basic pension of its old age and disability pensioners to P6,000 earlier this month. The GSIS said that in its recommendation, the increase of P1,000 in the minimum pension should be effective by February this year, with the proposal benefiting around 67,201 old age and disability pensioners. The GSIS law or Republic Act 8291, provides that the basic monthly pension may be adjusted upon the recommendation of the president and general manager of GSIS, and approved by the President of the Philippines.

It’s all systems go for natl ID system by September–Arroyo

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HE leadership of the House of Representatives on Tuesday said the government is ready to conduct the initial batch of registration and issuance of the first Philippine Identification System (PhilSys) in September. Speaker Gloria Macapagal-Arroyo said the National Statistics Office made assurance following the House Oversight Committee on Population and Family Relations held in Dumaguete City, Negros Oriental. “I am happy that it’s all systems go for the National ID system based on the timeline they have presented to us this morning,” she said in a news statement. The government is targeting that by 2022, it would have issued 105 million cards to Filipinos and resident aliens. The government has guaranteed a P2-billion funding for the national ID system. According to the identification for development initiative of the World Bank, over 16.3 million Filipinos do not have proof of identity and are hindered from availing of government and financial services. During the hearing, Atty. Lourdines de la Cruz, deputy national statistician of the Philippine Statistics Authority, said that in compliance with RA 11055, or the Philippine Identification System Act, they will start the registration for the PhilSys this September by targeting about 6 million individuals. She added those that are eligible to register are Filipinos and resident aliens that are at least five years old. Jovee Marie N. Dela Cruz

Editor: Vittorio V. Vitug • Wednesday, March 13, 2019 A11

‘Trabaho’ bill foments ‘uncertainty’ in aerospace industry, group says

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By Elijah Felice E. Rosales

@alyasjah

OCAL aircraft parts makers are optimistic they will hit their target revenue of $2.5 billion in exports as early as next year, but uncertainties on the future of tax incentives put this at risk. In an interview with reporters on Tuesday, Aerospace Industry Association of the Philippines President Dennis Y. Chan said the export target of $2.5 billion by 2022 could be achieved as early as 2020. He attributed this to booming global demand for aircraft, which, in turn, will need parts and systems.

“We might be surpassing that already because in 2019 we are already hitting $2 billion,” Chan said. However, this could be spoiled if the government insists on rationalizing incentives as proposed under the Tax Reform for Attracting Better and High-Quality Op-

Senator renews call to amend economic laws amid FDI drop By Butch Fernandez

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@butchfBM

HE Senate was asked to front-load the passage of remedial legislation amending the country’s current economic laws to foster a more competitive business environment in the Philippines. Sen. Sherwin T. Gatchalian on Tuesday prodded the Senate to accelerate the early enactment of a law embodying “much-needed legislative reforms designed to make the country more adaptable to current and future business demands and trends.” The current chairman of the Senate Committee on Economic Affairs aired the plea following the Executive branch’s renewed call for Congress to lift foreign ownership limits under the 1987 Constitution amid the slowdown of foreign direct investment (FDI) inflow in 2018. “Restrictive foreign investment laws have remained impediments to our country’s economic advancement. The time is ripe to reconsider amending some of our laws to encourage foreign investors to do business in the Philippines,” Gatchalian said. The senator suggested that “we should take advantage of our good economic performance by further harnessing the country’s potential for foreign investment,” adding that this starts by “reviewing and updating our laws to encourage the influx of foreign capital through the development of a more investment-friendly climate.” In a news statement, Gatchalian cited the Bangko Sentral ng Pilipinas (BSP), saying FDI attracted by the Philippines slowed by 4.4 percent to $9.8 billion in 2018 from $10.3 billion in 2017 amid the sharp drop on net investments in equity capital. The BSP added that in 2017, the Philippines’s FDI of $10.3 billion paled in comparison with most of its peers in Southeast Asia, trailing behind the likes of Singapore ($63.57 billion), Indonesia ($22.17 billion) and Vietnam ($14.10 billion). The lawmaker lamented that the Philippines “continues to lag behind its Asean neighbors in terms of capturing foreign investment due to the country’s relatively restrictive and less competitive economic policies.” This, even as Gatchalian cited the enactment of several economic reform bills that aim to foster an inclusive, efficient and competitive business environment in the Philippines, and ensure the country will capture a lion’s share of foreign investments. The senator recalled that among the reform measures were Senate Bill 2102, or An Act Amending Republic Act 7042, otherwise known as the Foreign Investments Act of 1991, which provides clarity to foreigners who are interested in investing in small and medium enterprises or practicing their profession in the Philippines. With SB 2102, Gatchalian proposes to update FIA’s declaration of policy to encapsulate inclusive economic growth, advancements in technology, and the dynamic relationships among global and regional economies. The Gatchalian bill mandates the National Economic and Development Authority, in cooperation and consultation with the Board of Investments, the Department of Trade and Industry, the Securities and Exchange Commission, and other pertinent government agencies to conduct an annual review of the country’s Foreign Investment Negative List to ensure that the list is aligned with this policy.

portunities (Trabaho) bill. Chan argued the Trabaho bill places investors in an uncertain position that could lead them to relocate to other countries. “I think right now, the biggest issue is that what they are talking about [the Trabaho bill is] that they want to take away the Peza [Philippine Economic Zone Authority],” he said. “What makes life easy for most of the manufacturers [is the Peza]. If you want to take away the Peza, you have to take away all the benefits of exporters: the tax incentives. Now investors will ask the government: why should I go to the Philippines? What more is your advantage without the tax perks?” Chan added. The Trabaho bill will gradually reduce corporate income tax to 20 percent by 2029 from 30 percent.

On the other hand, it will rationalize incentives granted to firms located in special economic zones managed by the Peza. One of the crucial incentives that will be overhauled by the Trabaho bill is the 5-percent tax on gross income paid in lieu of all local and national taxes. Further, Chan raised the possibility that corruption may proliferate if the authority to approve investments is stripped away from the Peza and transferred to local governments. He said this will be counterproductive to the administration’s objective of getting more investments and will work against the trade department’s aspiration to bolster the domestic manufacturing sector. “First problem with the Trabaho bill is fear. A manufacturer will build, plant, build again, develop

before it can sell its products. We are talking about five years. That is the problem with the Trabaho bill, the uncertainty it will cause,” Chan said. Data from the DTI reported the aerospace industry posted a compounded annual growth rate of 4.2 percent from 2012 to 2016. In 2016 Europe and the Americas are the country’s biggest export destinations for aircraft parts with shares of 45.8 percent and 40.8 percent, respectively, while the Asia-Pacific accounted for 12.8 percent. Local aircraft parts makers are currently capable of exporting original equipment manufacturing parts. This includes flight control actuation systems, interiors, galleys and equipment, panels and lavatories for global commercial aerospace firms.

Agriculture/Commodities

A12 Wednesday, March 13, 2019 • Editor: Jennifer A. Ng

BusinessMirror

High demand for animal feeds to boost PHL wheat imports By Jasper Emmanuel Y. Arcalas @jearcalas

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HE increase in demand for animal feeds and bread products could cause Philippine wheat imports in the current trade year to hit a record 6.3 million metric tons (MMT), according to the United States Department of Agriculture (USDA). In its monthly global grains market report, the USDA projected that total wheat exports to the Philippines in trade year (TY) 20182019 would expand by 5 percent to 6.3 MMT, from 5.987 MMT in TY 2017-2018. The USDA also revised upward its wheat import forecast for the Philippines in the current TY. A wheat trade year for the Philippines runs from July until June of the following year. Available USDA data showed that the projected wheat imports of the Philippines in TY 2018-2019 is the biggest in history. The USDA attributed this to local traders’ search for cheaper alternatives to rice and corn, as the prices of these commodities remain high. Feed millers imports wheat to produce animal feeds. Flour millers buy milling wheat to supply the requirements of bakeries and other allied industries. “Strong demand for wheat products [is] based on higher prices for

Govt told to ban palm oil imports

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rice and corn,” the USDA said in the report, published recently. Agriculture Secretary Emmanuel F. Piñol said the possible in increase in imports is due to the continuous expansion of the local poultry and livestock sector. “It is not that the corn sector is not performing well, but this is an indication of a growing livestock and poultry sector, which is growing by leaps and bounds,” Piñol told reporters in an interview on Tuesday. The USDA said the US would remain as the top supplier of wheat products to the Philippines. “The US continues to have strong, steady demand from traditional buyers such as Japan, South Korea and the Philippines.” The country’s wheat imports in

2018 expanded by 26.8 percent to an all-time high of $1.51 billion, from $1.191 billion in 2017, data from the Philippine Statistics Authority (PSA) showed. PSA data also indicated that the US remained the country’s top source of wheat products in 2018, as it accounted for 40.7 percent of the total import volume. The US exported $615.359 million worth of wheat products to the Philippines last year, which was 2.1 percent lower than the $628.558 million recorded in 2017. Latest PSA data released on Tuesday showed that the countr y’s wheat imports in January expanded by 31 percent to $172.096 million from last year’s $131.38 million.

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By Jovee Marie N. dela Cruz @joveemarie

HE minority leader of the House of Representatives on Tuesday filed a resolution urging the Department of Trade and Industry (DTI) and other concerned agencies to disallow the importation of palm oil. In a news briefing, House Minority Leader Danilo Suarez of Quezon said the government should stop the importation of palm oil, which has contributed to the steep decline in local copra prices. “Most of the palm oil imported reportedly came from Malaysia and Indonesia which enjoy tarifffree rates based on the Asean Trade in Goods Agreement,” he said.

Suarez, in House Resolution 2519, said the volume of palm oil imports has significantly increased in recent years by almost 100 percent compared to 2016. “The surge of palm oil importation causes the shift of the demand from coconut oil to palm oil due to the cheaper price of the latter. This, in turn, injures the coconut industry with the continuous falling of copra farm-

gate prices to compete with the price of palm oil and the concurrent oversupply of copra,” he said. According to Suarez, the average farm-gate price of copra is now at P15 per kilogram, compared to P30 to P40 per kg in previous years. “This economic situation affects the livelihood of the country’s coconut farmers which are mostly living in poverty,” he added. Suarez said the DTI should look into the increase in palm oil imports and consider the suspension of imports. He said agencies must also find a way to hike copra prices to P25 per kg to level the playing field for domestic coconut producers. In November, the Department of Agriculture noted the “huge” increase in palm oil imports from Malaysia and Indonesia. Agriculture Secretary Emmanuel F. Piñol said the government will look into antidumping measures it could implement to protect local coconut farmers.

‘Congress must override Duterte’s veto of bill creating coco trust fund’

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ONGRESS must override President Duterte’s veto of the bill creating the P100billion trust fund for the benefit of coconut farmers, according to former House Deputy Speaker Lorenzo “Erin” R. Tañada III. Because of the delay in the setup of a trust fund, Tañada urged the Department of Agriculture (DA) to look after the welfare of coconut farmers who have been reeling from the steep decline in the price of copra. “Our coconut farmers are not earning since last year. They lost hope when the President vetoed the coco-levy bill,” he said in a statement. By refusing to sign the bill, Tañada said the President “wasted the efforts of coconut farmers to fight for the enactment of a measure that will improve their lives.” “Unless Congress overrides the veto when it convenes this May, we are back to square one. This is a ma-

jor disappointment to our coconut farmers, especially since the President promised this in 2016,” he said. While the coconut levy is one of the priority bills of the Duterte administration, the President said he vetoed it as it is “lacking in vital safeguards to avoid the repetition of painful mistakes committed in the past.” He pointed to the establishment of an effectively perpetual Trust Fund in Senate Bill 1233 and House Bill 5745 as the provision which was considered violative of the Constitution. Under A r t ic le V I, Sec t ion 29(3) of the 1987 Constitution, “All money collected on any tax levied for a special purpose shall be treated as a special fund and paid for such purpose only. If the purpose for which a special fund was created has been fulfilled or abandoned, the balance, if any, shall be transferred to the general

fund of the government.”

Cheaper copra

TAÑADA also urged the DA to “act fast” to arrest the slump in copra prices. He said the department should provide subsidy to give them immediate relief. The government, he said, should also consider constructing more farm infrastructure and to help farmers find new markets for their crop. Farmers stopped harvesting copra last year when the average millgate price fell to as low as P15 per kilogram. This prompted Agriculture Secretary Emmanuel F. Piñol to urge traders to hike their buying price. Last week, the DA warned that “heartless” traders who failed to raise their copra buying price will not be able to enjoy the benefits of a business deal that will expand exporters’ access to the Eastern European market.

Forget crazy stunts, use that streaming app to bet on corn

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TREAMING apps have taken China by storm with short videos of dancing teens, lipsyncing and all kinds of weird antics. Now traders are using them to predict the future of grain prices. For example, a farmer in the rural northeast is using his phone to film trucks lining up to load mounds of golden corn. Some 2,000 miles away in his Shenzhen office, Honda Wei watches attentively, scrutinizing the producer’s excited utterances and images of his fields for clues on supply and demand. “It provides intuitive information about the domestic markets,” 33-year-old Wei said of his experience on the Kuaishou app, a shortform video platform backed by tech giant Tencent Holdings Ltd. “Traders are seeking correlations between farmers’ sentiment and futures price fluctuation.” With more than 700 million users combined, Kuaishou and Bytedance Ltd.’s Douyin offer a vast potential source of intelligence in an opaque Chinese market where government data isn’t always the most reliable or efficient. Along with social media such as Weibo, traders are gathering information on crop plantings, harvests, stock-

piles and sales in real-time, instead of the hours of telephone surveys and physical travel that were once necessary.

Social media

“THE trading community monitors farmers as their sentiment spreads on social media,” said Zhang Yan, an analyst with Shanghai JC Intelligence Co., who subscribes to users on Kuaishou. While traders internationally have used Twitter to track opportunities, acting on everything from refinery fires and ship groundings to equity market sentiment, that’s not an option in China, where the United States-based social network is blocked. In their thirst for data, many in China have turned to streaming apps as farmers started filming themselves to connect with others and help improve productivity, manage costs and maximize profits. That trend has been helped by changes in the domestic market for commodities. In 2016, the country abolished its corn stockpiling program in the northeast to let the market decide prices. Rather than buy up production, the government now gives subsidies to farmers to encour-

age them to plant crops. Yields in China are restrained by curbs on genetically modified varieties and limits on land transfers, which all add to the sensitivity of the domestic market. The mysteries of production and stockpiling in the top commodity buyer have confused traders and analysts, roiling global markets. Corn swung widely in November as the US Department of Ag r icu lture revea led huge changes in world inventory figures after China adjusted statistics for the past decade. That’s made disseminating and collecting information on social media a common practice. “Quite often you’ll have farmers selling the same kind of product from different regions becoming friends,” said Zhang Xiaoran, a director at Kuaishou’s corporate social responsibility unit. “Farmers share information about production, and many actually end up selling crops for each other.” As benchmark corn prices in China surged to their highest level in more than three years in November, traders with industry giants such as Archer-Daniels-Midland Co., Cargill Inc. and Cofco Corp. started sending videos to each other. Bloomberg News

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BusinessMirror

Wednesday, March 13, 2019 A13

A14 Wednesday, March 13, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

El Niño’s daunting challenges for govt

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HE state weather bureau said the latest El Niño episode is “weak,” but it has already destroyed millions of pesos worth of crops. If it will not rain in the next few weeks and water in Angat Dam—the main source of drinking water for Metro Manila—falls to a critical level, farms in Bulacan and Pampanga will stop getting irrigation water. Metro Manila households are prioritized over agricultural land whenever El Niño, which causes below normal rainfall, hits the country. This is not the first time for the Philippines to grapple with the ill effects of a dry spell. One of the worst episodes experienced by the country happened in 1998. Irrigation water stopped flowing to farms, and rainfed areas could not be tilled at all. That year, the Philippines was forced to import more than 2 million metric tons of rice. The country again experienced the effects of El Niño in 2010 and 2015. The episode in 2010 destroyed more than P10 billion worth of crops, with the rice sector registering the biggest loss. Five years after, drought would again wreak havoc on the Philippines and destroy more than P20 billion worth of crops, mostly rice. The destruction caused by El Niño on rice fields made the country one of the top importers of the staple in the last decade. Unfortunately, the occurrence of El Niño in the Philippines has become more frequent in recent years. The dry spell is particularly problematic for the country because rice, the staple food of Filipinos, is a water-loving crop. The rice sector usually bears the brunt of El Niño, and this is evident in the latest damage report released by the Department of Agriculture (DA). Rice accounted for a huge chunk of the P464 million worth of crops damaged by the dry spell. (See “El Niño damage to crops climbs to P460 million,” in the BusinessMirror, March 12, 2019). One intervention that the government can implement immediately to cushion the ill effects of the dry spell is to set up more small-water impounding systems or SWIPs. These SWIPs are small-scale irrigation systems where water is impounded in a pond and are established in areas that cannot be covered by national irrigation systems. The government tried to set up more SWIPs, but budgetary constraints made it difficult for the DA to do this. There is also the solar-powered irrigation systems (SPIS) that the DA wants to set up to irrigate 500,000 hectares of rice farms. But the availability of government funds is crucial to the DA’s success in attaining its goal. The agency is targeting to construct 6,250 units of SPIS by the end of the President’s term. So far, only 169 have been put up. Other interventions, such as the protection and management of watersheds, require political will to implement. Watersheds are main sources of freshwater, and they provide the major water requirements of several irrigation systems, hydroelectric dams, and domestic and industrial water systems. Unfortunately, timber poaching, illegal logging and quarrying threaten our watersheds. Fighting illegal logging and quarrying should be done with the same resolve exhibited by the government in trying to eliminate the drug menace. The challenges are daunting, but the water problem is remediable. However, the government must act fast if it wants to prevent water shortages in the future and ensure the country’s food security. While it is cheaper to import food, the Philippines cannot just rely on its neighbors in Southeast Asia all the time. This was the lesson of the 2008 rice price crisis, one that the government has yet to heed. Since 2005

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Japan: Main driver of Mindanao’s growth Teddy Locsin Jr.

FREE FIRE Continued from A1

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ET me open by extending heartfelt congratulations to the government of Japan on its inauguration of the new Consulate-General of Japan in Davao: Ome—de—tou go—zai— ma—su! (Congratulations). I hope I got that right: no accent on any syllable. It is my honor to join all of you this evening on this great occasion. The opening of this Consulate General, in the presence of no less than my friend Minister Kono, speaks of the importance Japan attaches not only to the city of Davao

as a growing center of economic activity but to the entirety of this land of promise that is Mindanao. Japan’s record of unfailing support for Mindanao—spanning the peace process, development assistance, investments and cultural

engagement—has been unrivalled. Japan has helped advance the peace process: from helping ensure that cease-fires hold, to shepherding the realization of Bangsamoro. By its development assistance, infrastructure projects, technical cooperation and capacity building, it has helped to raise Mindanao’s level of development and uplift the lives of its people from the grassroots up. This commitment was emphatically renewed this morning when Minister Kono and I presided over the Exchange of Notes on Japan’s provision of a loan of $202 million for the construction of roads and bridges in a seamless connectivity across conflict areas of Mindanao. Following the ratification of the Bangsamoro Organic Law— which has replaced the narrative of secessionist conflict with that of democratic process—Japan’s steady support has been a source of

great encouragement. Japan is wellpositioned to be the main driver of growth in Mindanao, reprising its role in the amazing industrial growth of the Calabarzon area, which has made that region the second-largest contributor to Philippine GDP. Japan’s public- and private-sector involvement in the growth of Davao helped the region post a GDP growth higher than Metro Manila. Imagine the potential that Japanese investments and economic participation herald for Mindanao. As we gather tonight to celebrate Minister Kono’s presence and this Consulate General’s inauguration, we open a new chapter in our Strategic Partnership; one in which Mindanao promises to play a central role as we had long hoped. In so doing, we reaffirm our shared aspirations for peace, stability and prosperity for our peoples, our region and beyond. Thank you. Mabuhay!

May’s deal leaves parliament to pick its poison

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By Therese Raphael | Bloomberg Opinion

AY at least this for Theresa May: She has thrown absolutely everything at the effort to make her European Union divorce deal palatable to Britain’s parliament. On Monday night that included a dramatic last-ditch trip to Strasbourg to sign off on the latest—and, according to European Commission President JeanClaude Juncker, the last—changes to the Brexit agreement. It’s too early to say whether the gambit has worked. Parliament rejected her deal by 230 votes in January and will get another chance to approve it on Tuesday night. But May has also promised them two further votes this week if they turn it down again: One on whether Britain should leave with no deal at all and another on whether it should seek a delay to the March 29 exit day. The texts of the new assurances were released late in the evening. Attorney General Geoffrey Cox’s legal opinion, a big influencer in this process, will be published only on Tuesday. There was instant criticism from the usual suspects even before the texts had been digested, but there were also suspended judgments. Lawmakers will be most focused on the joint instrument relating to the Withdrawal Agreement (the main divorce deal), which both Juncker and May say is legally binding and equal to the main text of the divorce deal. This is where May hopes that she’ll have provided enough assurances that the UK cannot be trapped in the so-called Irish backstop, the provision that keeps the UK in the EU’s customs union if other arrangements aren’t found to keep the Irish border open. Both sides agree “that it would

be inconsistent with their obligations” under the Withdrawal Agreement for either party to seek to apply the backstop indefinitely. They have designated a dispute-settlement mechanism for redress. If this manages to steer clear of involvement from the European Court of Justice, a bogeyman for Brexiters and the final arbiter of EU law, then May might score some points there. There is also a curious unilateral statement in which the UK government “records its understanding that nothing in the Withdrawal Agreement would prevent it from instigating measures that could ultimately lead to disapplication of obligations” under the Irish protocol. In other words, the UK considers itself able to walk away from the backstop even if the EU doesn’t see it that way. That may not have any legal force, but then again the EU isn’t objecting to it (yet) and it will be filed with all the other parts of the agreement, which would make it hard to ignore if push came to shove. We can leave the legal interpretations to the international lawyers. It will not take them long, I suspect, to find fault with a deal that sought to do the impossible: Give the EU, and especially Ireland, the insurance it required on preserving an open Irish border no matter what

Given the European Parliament elections in May, the EU will be reluctant to grant an extension of more than a few months. That isn’t enough time to prepare for a second referendum, but it might give adequate breathing space to hold a snap general election, or form a cross-party committee to hammer out a majority for a softer Brexit. None of those options will please hardline Brexiters.

happens with EU-UK trade talks, while also promising the UK that it wouldn’t be tied into an arrangement to keep the border open if those talks break down. The fact that the actual Withdrawal Agreement has not changed will dismay (but not surprise) hardline Brexiters who had insisted it be altered. And yet the decision facing lawmakers on Tuesday night is primarily political. Proponents of a no-deal Brexit will find enough to convince them the new concessions are too flimsy. For those looking to avoid either the chaos of a no-deal Brexit, or the uncertainty of a delay that might lead to no Brexit, the changes may just be enough to secure a vote. Much depends on which way the Democratic Unionist Party, the small Northern Irish party that gives May her majority, goes. If the DUP rules that the changes do not satisfy their concerns that Northern Ireland could be left cut off from the rest of the country, then Brexiters in May’s own party are likely to abandon the cause too. A DUP thumbs-up might just pull in enough Conservative votes that May can make up a majority with some Labour support.

And if not? It’s hard to take much comfort in the alternative routes if May’s deal is rejected. If there is a majority in the House of Commons for anything, it has been opposition to crashing out of the EU with no deal, so that vote can be expected to be defeated on Wednesday. And yet it’s not automatic that a no-deal exit can be avoided as opposed to just delayed. Some lawmakers will welcome a vote on delaying the exit date. But an extension to Article 50’s two-year deadline for negotiations requires the unanimous approval of EU members, and there is likely to be a quid pro quo. What is the purpose of the extension and for how long, they will want to know. The EU isn’t about to authorize a “rolling cliff edge,” as Irish Taoiseach Leo Varadkar put it. Given the European Parliament elections in May, the EU will be reluctant to grant an extension of more than a few months. That isn’t enough time to prepare for a second referendum, but it might give adequate breathing space to hold a snap general election, or form a cross-party committee to hammer out a majority for a softer Brexit. None of those options will please hardline Brexiters. Meanwhile, business investment and consumption keep falling. A deal would no doubt bring a reprieve, even if it also brings some economic loss and the long, hard slog of new trade negotiations. The question is whether lawmakers are willing to acknowledge what most Britons have already figured out: That Brexit is a game with different categories of losers, but no winners. Parliament must now pick its poison.

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Huawei’s lawsuit against US won’t win in court

The 4th floor Florante S. Solmerin

FACT IS MIGHT!

Noah Feldman

BLOOMBERG

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HATEVER Huawei Technologies Co. is doing by suing the US government and six cabinet officials, it isn’t trying to win in court. The legal arguments mounted in its brief aren’t based on existing precedent. Although the brief cites the Constitution, as written, the arguments are barely legal at all. The highly unusual lawsuit, filed last week in the Eastern District of Texas, reads more like a moral broadside directed at the US Congress for naming Huawei as a Chinese-government affiliate and effectively blacklisting the company’s telecommunications equipment—and others who use it—from US government contracts. Yet even as a moral document, the brief isn’t especially compelling. It doesn’t seem like a fundamental rights violation for a government to refuse to do business with a company it sees as a potential nationalsecurity threat. So what’s Huawei after? Maybe its owners don’t quite realize how weak their legal case is, although that seems unlikely. More probably, Huawei’s underlying purpose is an attack on the idea that the US is a rule-of-law country. When Huawei loses the suit, as it certainly will, the company—and the Chinese government—can say that the courts were in the pocket of the rest of the US government. Huawei can then say US interests are arrayed against a company that has the capacity to consolidate China’s position as a global leader in building 5G wireless communications infrastructure. Huawei’s brief was filed by reallife lawyers at major US law firms. Somehow they managed to get the complaint up to 49 pages, plus an appendix of five more citing the relevant federal law. That can’t have been easy. The law that Huawei targets, Section 889 of the National Defense Authorization Act of 2019, is pretty straightforward. The law says that the government can’t contract for telecommunications equipment or services with Huawei or ZTE Corp., another Chinese company. It also says the government can’t contract for similar services with third parties that rely on Huawei or ZTE for “substantial” or “essential” components of their systems. The law allows for short-term waivers by heads of agencies, and for longer waivers issued by the director of national intelligence. Nowhere does the law say why Huawei and ZTE are targeted. Ordinarily, Congress doesn’t have to explain itself when it passes a law. Only the executive branch is obligated to give legal reasons for (some of) its actions. The lawsuit makes three legal claims, all based on the Constitution, rather than any federal law. First, the suit says Congress has passed an unconstitutional “bill of attainder” by singling out Huawei and ZTE for special prohibition. A bill of attainder is classically a criminal penalty that a legislature attaches to a specific person without trial. Its origins go back to the British Parliament, which used such bills to identify and punish traitors or others without trial. The last time the Supreme Court found that Congress had passed a bill of attainder was in 1965, in a case called US v Brown. The law in question made it a crime for a member of the Communist Party to serve on the board of a labor union. This classic Warren Court decision, written in fact by Chief Justice Earl Warren, said the constitutional prohibition on bills of attainder was meant to prohibit “trial by legislature” and “legislative punishment of designated person or groups.” Section 889 isn’t punishing

More probably, Huawei’s underlying purpose is an attack on the idea that the US is a ruleof-law country. When Huawei loses the suit, as it certainly will, the company—and the Chinese government—can say that the courts were in the pocket of the rest of the US government. Huawei. It’s just saying the US government won’t contract with it or use its equipment. Punishment is what happens when I am made worse off than I am, by a fine or a jail term or losing a job I already have. Denying me a contract I am bidding for doesn’t make me worse off. I have no right to make money off the US government. The bill of attainder argument is therefore exceedingly weak, and more or less guaranteed to fail. The only reason it isn’t frivolous is that various Baby Bells challenged the 1996 Telecommunications Act as a bill of attainder, and one federal district court actually agreed with them. That decision was overturned on appeal, and other courts also rejected the argument. Huawei’s second legal argument is that Section 889 violates due process of law. It isn’t very specific about why, but the complaint does say that Huawei was deprived of its “opportunity to be heard.” The problem with this theory is that there’s no due process right to be heard by Congress before it passes a law affecting you. Congress isn’t a court that must give you notice and a chance to be heard before affecting your property rights. Legislative due process consists of both houses of Congress passing the law and the president signing it. That happened here. The due process argument is window dressing at best. Finally, Huawei says Section 889 violates separation of powers. The theory here is that a law singling out one company isn’t a law, but more like an executive or judicial ruling. To some extent this argument just restates the first one, about bills of attainder, which the Supreme Court in the Brown case said effectively violate separation of powers. To the extent the Huawei argument would go any further, it is unconvincing. Congress can pass laws that affect only some businesses or some people. Official Chinese coverage made the point that Huawei wouldn’t have brought the lawsuit without “suggestions from high-ranking people,” implying Chinese government approval or even advice to initiate the suit. And an editorial in the same staterun newspaper said that Huawei is “facing a politically motivated crackdown by the US government” and so “has enough reason to file the case, even going by a Western perspective.” It concluded that the case “will test the independence of the US judicial system.” That suggests Huawei is mostly trying to achieve a propaganda win by making the US look as though it is flouting its own Constitution. Coupled with the arrest of Meng Wanzhou, Huawei’s chief financial officer and the daughter of its founder, the suit can be used to say that the US ignores the rule of law when it comes to dealing with China. That’s not the case, at least with respect to Section 889. But Huawei, and China, may simply not care.

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ISITORS with paper bags enter the 4th floor and after several minutes or an hour or so they will emerge from the elevator empty handed. This was happening since people on that floor took over the management of the Small Town Lottery (STL) from the Branch Operations Sector, which is under the Office of the General Manager of the Philippine Charity Sweepstakes Office (PCSO). The fourth floor is where the offices of the members of the Board, including the chairman, are located. What is worth looking into is why the Board has to take over the operations of the STL, because it is only there as a policy-making body. To set the record straight, the Board has no business running PCSO’s operations because that task is the function and responsibility of the general manager, who is the chief executive for operations. The GM will implement PCSO programs

through Board resolutions. To be fair to Gen. Alexander “Mandirigma” Balutan, former GM of PCSO, President Duterte should go beyond the flip-flopping of his spokesman Secretary Salvador S. Panelo. The Office of the General Manager is located at the 10th floor. But it appears the buck stops at the 4th floor. Panelo, I think, was informed about this and at least some lawmakers at the House of Representatives.

Wednesday, March 13, 2019 A15

If the President really wants to stop the creeping corruption at PCSO since a “jueteng queen” and a “bagman of a former mayor” entered the 4th floor, he should order an all-out probe into the “serious allegations of corruption” hurled by vested-interest individuals against Mandirigma. I’m sure this will point to the real corrupt appointees and eventually clear the name of Mandirigma. As part of the strategy, a lawmaker who was a former cop is again in the limelight saying his committee will continue its probe on PCSO’s issues. He is known for this. Just review the previous hearings of his committee and you be the judge. Let me cite the full text of Mandirigma’s response after Panelo’s statement that the President has “fired” him, which was twisted by some “media vultures.” Mandirigma said: “I told PCSO employees when I assumed as GM in 2016 that if somebody [from the Office of the President/Congress] will ask or order me to do something which I cannot stomach, I will resign. “I did not ask for this position. PRRD [President Rodrigo Roa

Duterte] retired me early [from the] Marines to help him run his administration. In silence, I did and I excel [in what I do]. I did not ask anything [from the] President in return. The rest is history. “Career for me is just temporary but character is lifetime, even beyond my grave.” Read in between the lines folks, particularly the “media vultures” that love “parachute reporting.” In the previous administrations, the annual PCSO revenue was only more or less P36 billion. After Mr. Duterte appointed Mandirigma as GM of PCSO, the revenue started to increase after the rollout of the expanded STL. In 2017 PCSO revenue went up to almost P53 billion, and in 2018 it reached P63.5 billion. These increases in revenues are unprecedented and were only achieved under Mandirigma. Now tell me, is Balutan corrupt as general manager of PCSO? Indeed, there shall be a full investigation into the issue to ferret out the truth and to unmask those behind the “inflow of paper bags” at the fourth floor. E-mail: fetad@yahoo.com.

Paris and Dublin pursue their next Brexit prize

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By Lionel Laurent | Bloomberg Opinion

LOBALIZATION and European integration have been kind to English law, which over the decades has bound together financial systems across the European Union and drawn talent, money and energy into the City of London. There’s a risk now of the reverse happening, as global banks prepare to move thousands of staff and £800 billion ($1 trillion) of assets to the continent because of Britain’s looming departure from the EU. The next post-Brexit target for rival finance hubs like Paris and Dublin will be Britain’s multibil lion-pound lega l industr y, and the windfall for jobs and tax revenues that it offers. While there have always been local alternatives to using English law in the financial sector, some markets are almost wholly dominated by London. Take the €660 trillion ($742 trillion) European derivatives market, where the City’s primacy as a legal jurisdiction has been unchallenged. The British capital offers the flexibility of English common law,

the predictability of using precedent rather than codified statutes and – as an EU member—the automatic Europe-wide enforcement of legal rulings. A contract dispute over a derivative between a German investment bank and an Italian client will, for example, often end up in an English court. Britain’s departure from the EU will remove one of those key advantages for London, and other cities are seizing on this. Last year the International Swaps and Derivatives Association (ISDA), a global standardsetting body, published new French and Irish law versions of its “master agreement,” which is used to govern over-the-counter derivatives. If English law becomes “thirdcountry law” after Brexit, English court decisions would no longer be

automatically recognized and enforced across the EU and counterparties would lose out on certain bankruptcy protections, according to the ISDA. This isn’t quite as urgent as the banks’ imminent loss of their EU financial passports. But it’s still a potential hassle for finance firms and their clients, and a risk. Paris and Dublin have wasted little time in trying to capture ground here. France’s top asset-management association, AFG, lent its official support to the French master agreement in January. Paris has also opened a new appeals court to hear disputes in English and to use English practices, a clear nod to those who want to keep doing business the old way. It’s also cheaper to file a case there. The Irish government, meanwhile, is pitching Dublin to firms who prefer common law to French civil law. Cautious UK lawyers worried about losing access to business have rushed to join the Irish Roll of Solicitors, according to reports. None of this will matter if clients don’t follow. But they do seem to be voting with their feet. Paris lawyer

Laurent Vincent, at Gide Loyrette Nouel, says that the French contract is seen as a useful tool by big corporate clients and banks as part of their contingency planning ahead of Brexit. Judith Lawless, a partner at McCann FitzGerald in Dublin, says she has seen “significant” client interest at her firm for the Irish version of the contracts. Capital-markets traders say investors are asking for local law over English law. As with all things Brexit, there’s plenty of skepticism from within the City that legal alternatives to London will ever really take off. Allen & Overy, headquartered in London, and New York’s Shearman & Sterling argue that any post-Brexit effects will be technical and easily resolved in most cases. Marc Benzler, a partner at Clifford Chance, says it may take 10 to 15 years to really see whether EU counter-parties change their habits to shift enforcement to their own backyards. Still, it’s a bet worth making for Paris and Dublin. Chipping away at London’s financial and jurisdictional primacy will be a long game.

What Venezuela needs to get out of its mess By Mohamed A. El-Erian Bloomberg Opinion

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HE widespread electricity outages that hit Venezuela on Friday were yet another reminder of an already tragic situation that is getting worse by the day, taking the country ever closer to the line that separates a fragile state from a failed and collapsed one. As the terrible human suffering mounts, and as the political situation gets more polarized, the international community is said to be getting ready to support an orderly transition from the current presidency—and for a simple reason: Venezuela’s protracted misery is not just intense and widespread, but also is spilling over its borders. The situation in Venezuela is well captured by the following statement by David Lipton, quoted recently in the Financial Times. The first deputy managing director of the International Monetary Fund correctly noted that “Venezuela is experiencing an extremely complex situation, one of the most complex we have ever seen…. It’s a crisis of food and nutrition, of hyperinflation and a destabilized exchange rate, of debilitating human capital and physical productive capacity, and a very complicated debt situation.” Venezuela is one of the toughest challenges that the international community has confronted when it comes to restoring financial order, economic growth and longer-term debt viability. But, if well handled, it would have the potential of being an example of what international coordination of both public and private initiatives can do, through thoughtful and careful sequencing.

Venezuela’s crisis has been many years in the making, and it is one that would require a concentrated set of immediate relief measures, economic and financial, followed by well-structured long-term recovery and rehabilitation steps. Both will need to be underpinned by a level of credible communication and internal socio-political cohesion that has eluded Venezuela in recent years, together with multiple points of coordination and compromises between and among governments, regional bodies, multilateral institutions and private creditors. Without that, there would be little hope of addressing a long list of cascading failures that includes: the nearcomplete breakdown of supply chains, gutted infrastructure, widespread shortages of basic goods and services, hyperinflation, a de-anchored exchange rate regime, a disrupted financial system, serial financial defaults, and a breakdown of institutions that has even threatened the viability of the country’s oil industry, once the envy of many. The recent evolution in the internal political situation could open a window for regime change—one hopes peaceful and orderly in nature, though that is far from assured. This could make it more possible to reverse this enormous human tragedy. The first three economic and financial-policy priorities of a pivot should be to: Restore as soon as possible and as much as possible ample supplies of basic goods and services, including foodstuffs and medical care. Reverse the steep decline in oil production and the catastrophic implosion of related activities that has come with that. (At under

1.5 million barrels a day, production is at dangerously low levels not seen for over half a century, and that can cause significant harm to the oil fields.) Activate safety net provisions to assist highly vulnerable and long-suffering segments of the population, a part of which is very close to lacking life-saving nutrition, shelter and health care. None of these steps would be possible without a major injection of financial support from bilateral and multilateral sources, led and coordinated by the US, together with adequate assurances from Venezuela that the new money will not be used to pay other private or public creditors. Establishing such a payments standstill would be complex and messy, even if the focus were only on private creditors. While some of the country’s bonded debt carry CACs (collective action clauses) that would likely help contain the complications associated with holdouts and vulture behavior, others don’t. Several legal cases are making their way through the courts, including on account of alleged unlawful expropriations. And some factions will push for the differential treatment of debt, based on when it was issued and also relating to the obligations of the state-owned oil company, Petróleos de Venezuela S.A. Having said all that: Debt exchanges have a significant potential to alter the size and profile of the country’s external debt servicing obligations—by heavily backloading payments, capitalizing interest and, through the use of value recovery clauses and debt sustainability analyses, making cuts in contractual outstanding obligations less difficult for creditors to accept. A high degree of

intra-creditor coordination could also make room for special provisions for the resumption of short-term trade finance. Add debt owed to governments and government-owned entities, and this could well end up the largest and most complicated debt restructuring in the history of an emerging market class that has navigated through the Argentine and Russian defaults, as well as the even more complex Iraqi situation. The immediate design of an orderly payments standstill would also require the cooperation of the Chinese and Russian governments, both of which are understood to have provided cash and in-kind loans in recent years. This will require a degree of transparency and international reporting that has been difficult to secure not only here, but also in other nations. And the hope is for their incorporation in a Paris Club structure that ensures comprehensive treatment. This combination—of basic goods and services hitting the shelves, incremental increases in oil production, better functioning social safety nets and a breathing window for debt repayment—would open the way for the even harder task of rehabilitating the country’s economic infrastructure, restoring social services, resetting the country’s domestic finances and financial system, putting the external accounts and exchange rate regime on a less precarious footing, and creating a path to sustained high and inclusive growth. Make no mistake, both the immediate and subsequent recovery measures that Venezuela urgently requires are monumental by any measure, both analytical and practical. But there are also reasons to be relatively optimistic.

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Pass 5% uniform royalty tax on mining, DOF asks Senate

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By Rea Cu

@ReaCuBM

HE Department of Finance is urging the Senate to pass the uniform royalty tax of 5 percent on mining operations in the country under the original proposal of the DOF, in line with the government’s push to make the Philippine tax system simpler and fairer to all taxpayers. Finance Assistant Secretary Ma. Teresa S. Habitan told senators before the adjournment of the congressional session last month that the DOF proposal would haul in an estimated P7.2 billion in incremental revenues to the state coffers in the initial year of its implementation. This is double the projected amount of P3.7 billion that the government will collect from the mining revenue reform bill approved by the House of Representatives in November 2018. “In the House [of Representatives], there was a considerable discussion about how the royalty was going to be calculated and with different methodologies on that. What

finally was approved by the House can be considered a compromise position. The DOF always wanted a simpler manner of computing the royalty,” Habitan said during a recent hearing on the proposed new fiscal regime for the mining industry conducted by the Senate Ways and Means Committee. The House version lowers the current 5-percent royalty on large-scale mining inside mineral reservations to 3 percent, and imposes a royalty equivalent to 1 percent to 5 percent of profit margins for large-scale mining outside mineral reservations, and 0.1 percent of gross output for small-scale mining outside or inside mineral reservations. The DOF’s proposal is outlined

₧7.2B

The estimated amount of incremental revenues that the DOF proposal will bring in to the state coffers in the initial year of its implementation under Senate Bill (SB) 1979 filed by Senate President Vicente C. Sotto III, which calls for the retention of all existing taxes and fees on the mining industry, and a royalty of 5 percent on gross output paid to the government on all mining operations, regardless of the nature of the agreement, whether large scale or small; metallic or nonmetallic minerals extraction; or located inside or outside of mineral reservations. SB 1979 also provides for an additional government share when its basic share is less than 50 percent of the net mining revenue; thin capitalization to avoid mining contractors relying too much on debt funding; and ring-fencing in which each mining project will be treated as a separate taxable entity. Under the DOF-endorsed SB 1979, the current 5-percent royalty rate for operations located in-

Treasury awards full P20B at T-bonds auction

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HE Bureau of the Treasury (BTr) has awarded the full P20 billion on offer for the reissued 10-year Treasury bonds (T-bonds) auctioned off on Tuesday, on the back of low rates brought about by the downward trajectory

of inflation. Deputy Treasurer Erwin D. Sta. Ana said, “I think the market is actually just looking for how inflation would be moving forward. So now that we have seen inflation falling within the band already, then it just

shows on the rates for this auction.” The rates for the T-bond posted a huge drop of 63.30 basis points settling at 6.196 percent compared to the last auction rate for the security of 6.829 percent. See “T-bonds,” A2

FRONTAL SYSTEM AFFECTING NORTHERN LUZON as of 4:00 pm - March 12, 2019

Light rains

side mineral reservations will be retained, while for those outside mineral reservations, a phased-in rate is proposed, as follows: on the first three years upon the effectivity of the law, 3 percent; on the fourth year, 4 percent; and on the fifth year, 5 percent. Habitan reported that in 2017, data from the Mines and Geosciences Bureau and the Bureau of Internal Revenue showed the government collected P1.1 billion in royalties and P1.9 billion in excise taxes from mining operations. The royalties were collected only from operations inside mineral reservations, with most mines in the country operating outside mineral reservations. The existing taxes paid by mining contractors are the corporate income tax, excise tax, indigenous people’s royalty, local business tax and value-added tax, among others. To differentiate, mining operations inside mineral reservations are located in areas where the government has already made some investments and where there is some certainty on the presence of minerals, while those outside mineral reservations are areas not developed by the government and where discovery of minerals is, thus, less certain.

16-yr-old Cebu student’s slay, rape shocks DepEd, LGU

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HE Department of Education (DepEd) has strongly condemned the murder of a Grade 9 learner found on a vacant lot in Lapu-Lapu City, Cebu, on March 11, and called on the local government and the police to swiftly bring to justice the criminals. Police said the victim, a 16-yearold student of Maribago High School, was reported missing by her mother on Sunday when she failed to return home from serving as a tithe collector at church. Her body was discovered the following morning by passers-by. She bore traces of rape and part of her skin was removed, exposing her skull. DepEd Schools Division Office of Lapu-Lapu City issued a memorandum reminding all public and private elementary and secondary schools to strengthen their rules and policies on school safety. It listed security measures, such as restricting practices for school presentations and other school-related activities until 5 p.m. only; instructing school heads to advise learners to bring packed lunch or snacks, instead of buying food outside school premises; ensuring that fully functional CCTV cameras are installed in strategic areas; requesting additional presence of police or barangay tanod in the area; and advising students to always go in groups when out on the streets, especially when it is already dark. “The department, likewise, enjoins the public in the shared responsibility of protecting children from all forms of abuse, violence, exploitation and threat,” Education Secretary Leonor Magtolis-Briones said. The department extended condolences to the girl’s family and requested the DepEd community for voluntary contributions to provide financial assistance to them. Claudeth Mocon-Ciriaco

VICTORIA Plaza

NCCC acquires Davao’s landmark Victoria Plaza mall By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—The New City Commercial Corp. (NCCC), a local pioneering retail player in Davao, has acquired the historic Victoria Plaza Mall, the first sprawling mall complex here. The NCCC acquisition was sealed in a signing ceremony on March 12 with the Lucio Tan-owned Philippine National Bank (PNB) at the PNB Financial Center in Manila. The Victoria Plaza has been on receivership with the PNB. NCCC Chairman Helen A. Lim and Malls President Sharlene Faye

A. Lim signed the deal for the NCCC. The NCCC did not disclose yet the amount. “This is a historic and strategic acquisition for NCCC. As a local, we are very confident in the city’s participation in our country’s growing economy,” Helen A. Lim said. She said it was “a privilege for a homegrown company like ours to have the opportunity to develop this property that is very much a part of Davao’s culture.” “We will strive to preserve this history while rewriting it to respond to the future,” said Sharlene Faye A. Lim. NCCC said it would formally take over ownership of Victoria Plaza on March 27.

PANTALEON BRIDGE WORK PROMPTS 2-YR CLOSURE OF ESTRELLA SERVICE RD.

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TARTING on March 23, the Estrella Service Road in Makati City will be partially closed to vehicular traffic to give way to the ongoing rehabilitation of the Estrella-Pantaleon Bridge, an official of the Metropolitan Manila Development Authority (MMDA) announced on Tuesday. MMDA General Manager Jose Arturo S. Garcia Jr. said the closure of Estrella Service Road—from Gumamela Street to JP Rizal direction—would take effect at 11 p.m. At least 500 vehicles per hour are traversing it. The other direction going to Rockwell area will remain open to motorists. The closure, in coordination with the Department of Public Works and Highways (DPWH) and the local government of Makati City, will last up to two years until the completion of the bridge.

RCBC. . .

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name, reputation and image, all with the intention of getting RCBC to pay Bangladesh Bank money that RCBC does not have in its custody or possession and which it does not owe to Bangladesh Bank,” RCBC said. Earlier this year, Bangladesh Bank sued RCBC in the US District Court for the Southern District of New York. The bank said its defamation suit references Bangladesh’s failures to secure its network and disclose those failings on a timely basis. The complaint also refutes Bangladesh Bank’s allegation that RCBC played a premeditated role in the cyber theft. “Bangladesh Bank had lost the $81 million the minute it left defendant Bangladesh Bank’s account at the NY Fed and way before it had even reached the Philippines…. There is absolutely no act attributable to RCBC that caused the payment instructions to reach

Motorists were advised to take the following alternate routes: All vehicles coming from Edsa/Rockwell must turn at Gumamela Street, left at Camia Street to JP Rizal to destination. “In preparation, roads in the vicinity of Estrella Bridge will be cleared of illegally parked vehicles and other obstructions,” Garcia said. The MMDA personnel will also start to clear the alternate routes on Monday. Roadside clearing operations will be conducted on identified alternative roads, including the streets of Camia, Gumamela and Progreso. The rehabilitation of EstrellaPantaleon Bridge aims to widen the bridge to four lanes from its present two lanes. Based on the DPWH timeline, the project will be completed in 2021.

Claudeth Mocon-Ciriaco

the NY Fed and the Correspondent Banks,” the complaint said. It was in 2016 when a crossborder electronic heist made headlines, as hackers were able to steal $81 million of Bangladesh Bank’s funds that were deposited in the Federal Reserve Bank of New York. The stolen money eventually found its way to the Philippines through accounts in RCBC, where much of it was withdrawn and disappeared into the country’s casino sector. In mid-2016, following investigation and processing of the issue, the Bangko Sentral ng Pilipinas sanctioned RCBC with P1 billion in fines—the largest amount ever to be imposed as a fine on a banking institution in the Philippines. The incident also prompted officials to include the gaming houses in the Anti-Money Laundering Council’s coverage. In 2018, President Duterte signed into law Republic Act 10927, effectively designating casinos as covered entities under the Anti-Money Laundering Act of 2001.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, March 13, 2019

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Petron 2018 net income down 50% to ₧7.1B By Lenie Lectura

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@llectura

ETRON Corp.’s net income in 2018 plunged 50 percent to P7.1 billion, mainly due to the decline in global crude prices last year. The country’s largest oil refiner said on Tuesday it incurred an inventory loss of P10 billion for

the last two months of the year, following a sustained decline in world oil prices.

“It was a challenging year, yet we captured the majority of the market and remained the largest and fastest-growing oil company in the country. While our longterm fundamentals remain attractive, we will continue to be prepared and responsive to market conditions,” Petron President Ramon S. Ang said. Operating income for the year reached P18.9 billion, 32 percent lower than the P27.6 billion last year. Excluding the one-time

item, profits would have ended 21 percent higher at P17 billion. Meanwhile, consolidated sales stood at P557.4 billion, up 28 percent from the P434.6 billion recorded in 2017. Petron managed combined sales volume of 108.5 million barrels for the year, slightly higher than the 107.8 million barrels sold in 2017. Petron’s strong local sales of gasoline, Jet-A1 and LPG, along with improved operating efficiency, contributed to the increase. It

DMCI order book rises 12% last year to ₧12B on new projects By VG Cabuag @villygc

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ONTRACTOR DM Consunji Inc. (DMCI) said it signed P12 billion worth of new projects in 2018, raising its order book by 12 percent year-on-year from P24.8 billion to P27.9 billion. Building and infrastructure contracts accounted for the bulk of the order book at P11.2 billion and P11.1 billion, respectively. Energy projects reached P2.7 billion, while the value of plant and utilities contracts totaled P2.9 billion. “Building pioneering structures is at the core of our DNA. We are grateful and excited to be part of these

projects,” DMCI President and CEO Jorge A. Consunji said. DMCI bagged two notable projects in 2018, which include the first Ikea store in the Philippines; and The Estate Makati, the ultra-luxury residential condominium project of SM group and Federal Land along Ayala Avenue in Makati. Once completed, the Ikea outlet will be the biggest in the world at 65,000 square meters. The Estate Makati is the first residential building in the country to be constructed using double-slab technology, allowing owners to fully customize the layout of their units. DMCI will construct the frame and wet works for the Ikea store,

worth about P1.6 billion and is targeted to be completed in 2021, while the Estates project cost was about P1.3 billion. On a stand-alone basis, DMCI recorded a full-year net income of over P1.6 billion in 2018, a 22-percent jump from P1.28 billion the previous year. Rebecca E. Civil, DMCI senior vice president for business strategy and development, said the company needed to add more projects this year to continue growing the business. “Most of our projects will be finished next year and there will be some left for 2021. We need to add more projects this year,” Civil said.

She said some of the projects that will be completed possibly this year or early next year are the San Miguel Corp. projects on the last phase of the Tarlac-Pangasinan-La Union Expressway (TPLEx) and Stage 3 of Skyway, though both still have rightof-way issues. In the 1950s DMCI built the Picache building in Plaza Miranda, considered the first real skyscraper in the Philippines. At that time, the 12-story structure proved that buildings could go higher than 10 floors. DMCI also built SM Megamall in the late 1980s. The integrated shopping mall had a total floor area of 311,898 square meters.

Insular Life, IFC launch Sheroes program Smart taps Nokia to deploy 5G to schools By Rea Cu

@ReaCuBM

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MART Communications Inc. has tapped Finnish multinational tech company Nokia for the deployment of 5G wireless broadband equipment and services in educational institutions to allow schools to leverage on the growing popularity of solutions for the socalled Internet of Things (IoT). The two companies, under a memorandum of agreement signed on Tuesday, will jointly identify realworld and enterprise-led 5G standalone (5G SA) solutions which means that data transmission will be solely reliant on 5G connections. This new technology will allow educational institutions to develop their facilities for artificial intelligence, drones and other IoT solutions. “We are happy to partner with Nokia to help develop intelligent solutions and technologies for the benefit of the Philippine education sector,” Smart Chairman Manuel V. Pangilinan said. The deal between the two companies also calls for the deployment of 5G SA technologies, such as handsets and applications. 5G is seen to offer massive Internet speeds, but mobile use of 5G has yet to be available as industry standards are yet to be set. “By working with partners like Nokia in unlocking the full potential of 5G for Filipino enterprises and customers, we are putting the Philippines at par with the rest of the world in preparing for the deployment and adoption of 5G,” Smart Chief Technology and Information Advisor Joachim Horn said. Jae Won, who heads Nokia Asia Pacific, added that this agreement goes beyond the Internet speeds that 5G can offer. “5G SA enables introduction of services like real-time remote control of robotics and autonomous driving of transport vehicles in the areas of Industrial Revolution 4.0 with new technologies, like Network Slicing and Ultra Reliable and Low Latency Communications,” he said. Lorenz S. Marasigan

I

NSULAR Life Assurance Co. Ltd. (Insular Life) has partnered with the International Finance Corp. (IFC) to launch its InLife Sheroes program, geared towards providing products and services tailor-fit to the needs of women, with 54 million of the segment seen as untapped. Insular Life Executive Chairman Nina D. Aguas told reporters at the sidelines of the InLife Sheroes launch at the Insular Life Building in Makati on Tuesday that servicing the needs of the women segment is a very important initiative as it will not only make the company grow, but the whole insurance industry, as well. “We believe that the women's sector is important, not just as a market segment, but there are clear needs of women that are not fully addressed. So we are focusing our initiatives on women with the help of the IFC,” Aguas said. Citing numbers from the Insurance Commission (IC), Aguas explained that if the country has 110

million women, around 54 million remains in need of some form of insurance or protection coverage. “I think the insurance commissioner said this morning that there are 54 million untapped women. If we are 110 million, that’s clearly almost 50 percent. The women population should be provided for, in a way, if they have not been. I remember him mentioning by 2020. That’s about P217 billion worth of opportunity,” she added. Maria Noemi G. Azura, EVP and head of strategies for Insular Health Care Inc., said about 78 percent of the units sold under its emergency care line, which provides basic protection for women, under the InLife Sheroes program came from women customers. “In fact, after 37 days of launch, we observed a warm reception from the women segment because 78 percent of the units sold are coming from the women customers. It is affordable because the price is like P1,750 for a coverage of P100,000 for outpatient services,” Azura said. She added that other products

will be offered under the program soon, with the “Entrepinay” product which carries a maternity-allowance aspect, still pending approval with the IC. Aguas said the current clientele of Insular Life is 50 percent women and 50 percent men, but the coverage for the policies is not very specific to the needs of women, but on the broader spectrum. Azura said that with the P217-billion opportunity for the segment by 2020, Insular hopes to gain a healthy market share from it. “The opportunity is P217 billion by 2020; 73 percent of that will be contributed by the life insurance sector and the rest—27 percent— would be nonlife. We would like to gain a healthy market share of that potential,” she added. In terms of a global scale, IFC’s Women’s Insurance Lead, Gender Secretariat Marieme Esther Dassanou said women’s market opportunity for the insurance industry will grow up to $1.7 trillion by 2030 globally, based on an IFC report entitled “She for Shield: Insure women to better protect all.”

URC opens new sugar mill in Negros Occidental

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NIVERSAL Robina Corp.’s (URC) sugar and renewables subsidiary Southern Negros Development Corp. (Sonedco) on Tuesday said it inaugurated a new sugar mill in Kabankalan City, Negros Occidental, to mark its 30th anniversary. The new mill can crush up to 6,000 metric tons of canes per day, increasing the total milling capacity of Sonedco to 14,000 tons of canes per day, and total of 40,000 tons of canes per day. This expansion project began in April 2017. Full commercial operations are set to start during the 2019-2020 crop year, the company said. “The inauguration of the new mill marks the high point of our 30 years in the sugar business. It fulfills our commitment to serve sugarcane farmers with a mill that renders better sugar recov-

ery from their canes and utilizes lower energy cost, so that the consumers will be provided with good-quality sugar at fair and reasonable prices,” said Renato Cabati, vice president and business unit general manager of URC’s Sugar and Renewables Group. The food unit of the Gokongwei family decided to expand Sonedco’s capacity to cover the growing volume of sugar canes that needs to be milled in Kabankalan and elsewhere in Negros Occidental. Sonedco produces refined sugar used by URC’s branded consumer foods division for its Great Taste coffee, C2, biscuits, candies and other sweetened products. It also supplies bottler’s grade refined sugar to other beverage companies. The new mill was designed and supplied by Sutech Engineering of Thailand.

The latest technology in planetary gears and electric motors that drive the mill were supplied by Japan’s Sumitomo Drive Technologies. URC operates six sugar mills and refineries across the country with a combined output of 40,000 tons of sugar cane and 32,000 bags of refined sugar per day. Sonedco also has a biomass-fired cogeneration plant with a capacity of 46 megawatts, exporting power to the national grid using bagasse, a by-product of sugar milling, as fuel. In 1988, URC acquired Sonedco, which currently has over 500 employees. URC has a total output of 417,000 metric tons accounting for 17 percent of total domestic production. It is the third-largest supplier of refined sugar in the country, with actual production of 2.9 million bags. VG Cabuag

also retained its leadership in the retail, industrial and LPG trades, cornering majority of the market. In 2018 Petron’s 180,000 barrel-per-day oil refinery in Bataan hit an annual utilization rate of 95 percent, its highest on record, as it further increased its production of high-value fuels and petrochemicals. During the year, petrochemical and polypropylene sales grew by 3 percent and 28 percent, respectively, versus 2017. This drove

the increase in export volume, which surpassed last year by over 7 percent. Petron Malaysia’s domestic sales continued to deliver good results in 2018. Petron currently has over 640 stations in the country, reflecting the strong sales of its high-performance fuels. Petron provides nearly 40 percent of the country’s fuel requirements through its Bataan refinery, 30 terminals, and over 2,400 service stations nationwide.

Subic firm building high-speed gunboats for PHL coastal defense

SOME of the 21 high-speed tactical watercraft built by Safehull Marine await delivery at the firm’s warehouse in the Subic Bay Freeport Zone. By Henry Empeño Correspondent

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UBIC BAY FR EEPORT— Subic boat builder Safehull Marine Technologies Inc. is making a name in the shipbuilding industry by manufacturing high-speed patrol craft and gunboats for the Philippine defense establishment. The Filipino-owned company, which occupies a factory and warehouse here at Subic’s Global Industrial Park, is now producing high-speed tactical watercraft (HSTW) and multipurpose attack craft (MPAC) to boost the military’s littoral combat force. Subic Bay Metropolitan Authority Chairman and Administrator Wilma T. Eisma said Safehull Marine recently delivered 21 units of the 40-foot long HSTW that the Philippine National Police would be deploying to Mindanao this year. The HSTW had been commissioned by the PNP for patrolling the country’s exclusive economic zone, law enforcement and maintaining peace and order, as well as for humanitarian assistance and disaster response. Each equipped w ith three Honda outboard motors, the fiberglass-hulled boats can reach a top speed of 45 knots and are intended to operate approximately 200 miles from shore and in slight to moderate sea conditions. “This is a sleek, good-looking boat that you would mistake for a pleasure yacht. But it’s really fast and stable and could be mounted with guns for tactical missions,” said Eisma who joined a sea trial of the watercraft the other week. “It makes us proud that this boat is made in Subic, and that it’s a product of Filipino ingenuity,” Eisma said. Safehull company officials said they were able to make a

breakthrough in producing the HSTW after perfecting the vacuum-infusion process, which shortened the period of hull construction from three weeks to one day. Sa fehu l l , a whol ly ow ned subsidiary of the Manila-based Propmech Corp., is engaged in the fabrication of ship and ship components, ship repair, and engineering services for design and installation of parts and modules. Safehull officials said 30 percent of the boats built here in Subic are for clients in the defense industry, including the US military. The boats are designed, assembled and outfitted in Subic by Safehull and Propmech by means of local naval architects and workers, and in partnership with foreign technology companies like the Damen Group of Netherlands, Saab Group of Sweden, Taiwan’s Lung Teh Shipbuilding Co., and Israel’s Rafael Advanced Defense System. The Propmech and Safehull joint venture also built three MPAC delivered to the Philippine Navy in 2009, 2012 and 2017. This year, it is scheduled to build another unit of MPAC for the Philippine Navy. In November last year the Philippine Nav y successfully test-fired its first missile system by arming its Propmech-Safehull MPAC Mark3 with a Spike extended range missile from Rafael. Other vessels built by the Subic firm included a 15-meter landing craft vehicle personnel for the Philippine Navy; 136 units of 50-horsepower rubber boats for the PNP; 21-meter passenger/ cargo boats; multipurpose patrol boats for the Bureau of Fisheries and Aquatic Resources; and aluminum rescue boats for the Philippine Coast Guard.

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Companies BusinessMirror

Wednesday, March 13, 2019

PSE STOCK QUOTATIONS

March 12, 2019

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

ASIA UNITED 58.5 58.6 58.95 58.95 58.6 58.6 5500 322475 BDO UNIBANK 133.3 134 131.7 134 130.1 134 1269740 169009177 BANK PH ISLANDS 85.1 85.2 84.6 85.55 84.1 85.1 1034320 88054228.5 CHINABANK 27.5 27.55 27.6 27.65 27.5 27.5 40100 1104610 EAST WEST BANK 12.22 12.26 12.16 12.26 12.16 12.22 227100 2776432 METROBANK 76 78 76.7 78.4 76 76 2971850 228076687 PB BANK 13.86 13.98 13.86 13.86 13.84 13.86 21200 293560 PBCOM 21.55 22.9 21.8 22.9 21.8 22.9 1200 26380 PHIL NATL BANK 60.95 61.4 60.05 62.65 60.05 61.4 1289490 78822866.5 PSBANK 58.25 58.8 58.9 58.9 58.8 58.8 250 14703 RCBC 26.5 26.6 26.55 26.55 26.4 26.5 103000 2731620 SECURITY BANK 166.1 167 167 167 166 167 488440 81278058 UNION BANK 60.55 61 61 61 60.5 61 3280 200000 BRIGHT KINDLE 1.36 1.42 1.35 1.36 1.35 1.36 13000 17610 BDO LEASING 2.27 2.34 2.26 2.34 2.26 2.34 6000 13880 COL FINANCIAL 18.1 18.2 18.1 18.1 18.1 18.1 143100 2590110 FIRST ABACUS 0.58 0.62 0.58 0.62 0.58 0.62 21000 12220 FERRONOUX HLDG 4.34 4.47 4.47 4.47 4.47 4.47 2000 8940 FILIPINO FUND 7.9 8.95 7.86 7.86 7.81 7.81 2700 21097 MEDCO HLDG 0.455 0.46 0.46 0.47 0.455 0.455 350000 161000 MANULIFE 785 795 800 800 800 800 10 8000 NTL REINSURANCE 0.95 0.96 0.97 0.98 0.96 0.96 471000 455690 PHIL STOCK EXCH 181.2 185 184.6 184.6 183 183 370 67924 VANTAGE 1.13 1.15 1.13 1.13 1.13 1.13 12000 13560 INDUSTRIAL ALSONS CONS 1.41 1.44 1.42 1.46 1.42 1.42 2004000 2880060 ABOITIZ POWER 35 35.05 33.8 35.05 33.8 35 3548600 122474550 BASIC ENERGY 0.236 0.243 0.243 0.243 0.236 0.243 130000 31200 FIRST GEN 20.7 20.85 21.5 21.95 20.4 20.7 6345900 133087815 FIRST PHIL HLDG 73.9 74 73.7 73.9 73.7 73.9 66840 4931448 MERALCO 372.6 376 372 376 370.6 376 125820 47007126 MANILA WATER 26.35 26.6 27 27 26.3 26.6 140900 3748735 PETRON 6.7 6.75 6.76 6.79 6.66 6.75 6663400 44779426 PETROENERGY 3.77 3.79 3.77 3.78 3.77 3.77 148000 558030 PHINMA ENERGY 1.32 1.33 1.32 1.34 1.32 1.33 8836000 11764710 PHX PETROLEUM 11.82 12 11.74 12 11.74 12 148100 1769282 PILIPINAS SHELL 49.3 49.35 49 49.55 48.95 49.3 392000 19346700 SPC POWER 6.38 6.4 6.48 6.48 6.4 6.4 85600 548640 AGRINURTURE 14.82 14.9 15.26 15.28 14.9 14.9 549900 8316678 BOGO MEDELLIN 89.55 97.95 89.55 97.95 89.5 97.95 510 45736 CNTRL AZUCARERA 15.8 16.2 16 16.2 15.82 16.2 3700 58968 CENTURY FOOD 15.7 15.9 15.48 15.7 14.94 15.7 168300 2554022 DEL MONTE 6.1 6.29 6 6.3 5.96 6.1 11100 67731 DNL INDUS 11.3 11.32 11.32 11.34 11.26 11.32 173400 1960854 EMPERADOR 7.51 7.52 7.52 7.6 7.52 7.52 99100 746983 SMC FOODANDBEV 108.5 109 109 112.8 107.8 109 2051410 224431351 ALLIANCE SELECT 1.02 1.03 1.02 1.04 1.01 1.03 931000 954430 GINEBRA 26.55 27 26.6 27.85 26.5 27 564900 15251245 JOLLIBEE 316.6 317 312 317 311 317 139630 44132774 MACAY HLDG 11.08 11.44 11.52 11.52 11 11 9400 107312 MAXS GROUP 12.04 12.1 12.18 12.28 12.06 12.06 140500 1701464 MG HLDG 0.196 0.201 0.2 0.2 0.197 0.197 1490000 296010 PEPSI COLA 1.37 1.38 1.38 1.39 1.36 1.37 4124000 5670790 SHAKEYS PIZZA 12.28 12.3 12.32 12.32 12.28 12.28 11100 136504 ROXAS AND CO 1.82 1.85 1.85 1.86 1.85 1.85 117000 216500 RFM CORP 4.67 4.8 4.67 4.68 4.67 4.67 3000 14020 ROXAS HLDG 2.68 2.79 2.68 2.68 2.68 2.68 1000 2680 UNIV ROBINA 139.1 141.2 140.2 141.2 138 141.2 315810 44263911 VITARICH 1.63 1.65 1.65 1.65 1.62 1.63 3941000 6426370 VICTORIAS 2.62 2.65 2.67 2.67 2.65 2.65 52000 137960 CONCRETE B 71.05 81.5 71.05 71.05 71.05 71.05 100 7105 CEMEX HLDG 2.65 2.66 2.54 2.7 2.53 2.65 16033000 42643760 DAVINCI CAPITAL 5.96 5.97 6 6 5.97 5.97 109000 652002 EAGLE CEMENT 15.7 15.72 15.78 15.78 15.72 15.72 43600 686226 EEI CORP 8.72 8.8 8.96 8.96 8.71 8.8 611500 5411393 HOLCIM 9.6 9.67 9.61 9.61 9.57 9.6 2732200 26230259 MEGAWIDE 19.88 19.9 19.84 20.1 19.84 19.9 1099800 21950331 TKC METALS 1.01 1.05 1.06 1.06 1.01 1.01 378000 384000 VULCAN INDL 1.36 1.37 1.44 1.45 1.36 1.37 5490000 7675740 CHEMPHIL 110.1 120 120 120 120 120 100 12000 CROWN ASIA 1.87 1.9 1.85 1.91 1.85 1.91 7000 13130 EUROMED 1.65 1.77 1.65 1.65 1.65 1.65 12000 19800 LMG CHEMICALS 4.15 4.25 4.26 4.26 4.2 4.2 101000 426760 MABUHAY VINYL 3.41 3.59 3.52 3.6 3.5 3.59 17000 60130 PRYCE CORP 5.86 6 5.85 5.87 5.85 5.87 6000 35120 CONCEPCION 41 41.8 41 41 41 41 50000 2050000 GREENERGY 2.64 2.65 3.05 3.08 2.65 2.65 30544000 85966830 INTEGRATED MICR 12.72 12.74 13.04 13.3 12.68 12.72 499400 6397820 IONICS 1.64 1.69 1.66 1.69 1.64 1.69 299000 493890 PANASONIC 6 6.17 6.16 6.16 6.16 6.16 300 1848 SFA SEMICON 1.29 1.3 1.33 1.33 1.3 1.3 313000 410020 CIRTEK HLDG 29.3 29.5 29.45 29.5 29.4 29.5 50100 1476440

322475 65810422 -11136603.5 -677340 -1378876 -137072553 -81734 -25925490 -1548630 -69440365 -182965 -106700 -49472 5497039.9999 -45090750 -1665266.5 -1609608 -812465 23891558 -4207150 -5017335 53120 -1684746 505768 -4275 -1063726 -130248 31399879 255650 10689376 284516 1799920 -33204 3611753 -249460 106000 3747970 1640783 12943797 3009202 371540 5730 -29250 -0 3535430 1830424 -176990

HOLDING & FRIMS

ABACORE CAPITAL 0.77 0.78 0.78 0.79 0.77 0.78 14321000 11165850 -405600 ASIABEST GROUP 20.3 20.55 21 21 20.25 20.55 39200 804455 AYALA CORP 925 930 930 933 925 925 175170 162595375 -33945750 ABOITIZ EQUITY 57.6 58 57.2 58.1 57.1 58 3157370 181173652.5 6285903 ALLIANCE GLOBAL 15 15.02 15 15.16 14.96 15 9268100 139052548 84613306 ANSCOR 6.51 6.65 6.62 6.62 6.5 6.51 10900 71011 650 ANGLO PHIL HLDG 0.74 0.75 0.74 0.76 0.74 0.75 351000 263150 ATN HLDG A 1.41 1.42 1.41 1.43 1.41 1.41 3259000 4627180 ATN HLDG B 1.43 1.44 1.42 1.44 1.42 1.44 23000 32720 COSCO CAPITAL 7.5 7.64 7.46 7.7 7.46 7.5 1128300 8524344 4439424 DMCI HLDG 11.18 11.2 11.16 11.38 11.16 11.2 4949200 55574216 -14724350 FILINVEST DEV 14.64 14.68 14 14.66 14 14.64 2784200 40436726 -928572 FORUM PACIFIC 0.24 0.25 0.24 0.255 0.24 0.24 620000 152430 -4800 GT CAPITAL 974.5 985 965 996 965 974.5 197940 193742460 3927045 HOUSE OF INV 6.13 6.38 6.13 6.13 6.13 6.13 17800 109114 JG SUMMIT 64.7 65 66.1 67.2 64.55 65 1748470 114112115.5 -20864149 LODESTAR 0.55 0.56 0.58 0.58 0.55 0.57 801000 442110 LOPEZ HLDG 5.04 5.07 5.03 5.1 5.03 5.04 754200 3804753 479206.0002 LT GROUP 16.38 16.42 16.12 16.82 16.12 16.42 2676800 44247712 27175336 MABUHAY HLDG 0.56 0.58 0.56 0.56 0.56 0.56 108000 60480 36960 METRO PAC INV 4.92 4.94 4.87 4.95 4.87 4.94 10778000 52993610 17627240 PACIFICA 0.04 0.041 0.04 0.041 0.04 0.04 3200000 128700 PRIME ORION 2.98 3 3.03 3.03 2.99 2.99 1065000 3197100 REPUBLIC GLASS 2.56 2.73 2.56 2.56 2.56 2.56 10000 25600 SOLID GROUP 1.34 1.37 1.36 1.37 1.36 1.37 10000 13620 SYNERGY GRID 449 450 450 450 450 450 100 45000 SM INVESTMENTS 940 946 930 946 925.5 946 188190 175774460 -28343740 SAN MIGUEL CORP 173.9 174 174.1 176.9 171.4 174 1542220 267283718 11326378 SOC RESOURCES 0.75 0.78 0.79 0.79 0.78 0.78 95000 74300 47780 TOP FRONTIER 275 282.8 275.2 282.8 275 282.8 430 119906 -49978 WELLEX INDUS 0.239 0.24 0.24 0.24 0.24 0.24 680000 163200 ZEUS HLDG 0.355 0.36 0.37 0.38 0.355 0.36 20290000 7400200 448300 PROPERTY ARTHALAND CORP 0.9 0.91 0.92 0.93 0.9 0.91 957000 875230 ANCHOR LAND 10.46 10.6 10.46 10.46 10.46 10.46 600 6276 AYALA LAND 42.85 42.9 43.15 43.55 42.8 42.9 6182100 266,028,800( 141,911,515.0004) ARANETA PROP 1.87 1.95 1.88 1.88 1.87 1.87 24000 44970 BELLE CORP 2.39 2.4 2.43 2.43 2.39 2.4 767000 1841590 -182470 A BROWN 0.77 0.78 0.79 0.8 0.78 0.78 1292000 1014150 CITYLAND DEVT 0.91 0.93 0.91 0.93 0.91 0.93 102000 92840 910 CROWN EQUITIES 0.24 0.245 0.24 0.249 0.239 0.245 4920000 1183110 CEBU HLDG 6.6 6.86 6.6 6.86 6.5 6.86 2000 13172 CEB LANDMASTERS 4.23 4.25 4.3 4.3 4.2 4.23 256000 1082540 -547230 CENTURY PROP 0.49 0.495 0.5 0.51 0.49 0.495 8216000 4081390 53500 CYBER BAY 0.405 0.43 0.41 0.41 0.405 0.405 1310000 532050 -20350 DOUBLEDRAGON 20.25 20.35 20.8 21.2 20.25 20.25 761200 15742035 -2618395 DM WENCESLAO 10.08 10.1 9.99 10.18 9.92 10.08 2476100 24768194 16650600 EMPIRE EAST 0.52 0.53 0.54 0.54 0.5 0.52 4204000 2180300 -832380 EVER GOTESCO 0.13 0.136 0.13 0.13 0.13 0.13 180000 23400 FILINVEST LAND 1.51 1.52 1.51 1.52 1.5 1.52 6223000 9422630 1585710 GLOBAL ESTATE 1.23 1.24 1.26 1.27 1.22 1.24 1647000 2033600 -146400 8990 HLDG 11.96 11.98 11.88 12.2 11.7 11.98 2212100 26526064 -169974 PHIL INFRADEV 1.87 1.88 1.95 1.97 1.86 1.87 4560000 8622790 126600 CITY AND LAND 0.88 0.92 0.92 0.92 0.92 0.92 25000 23000 MEGAWORLD 5.49 5.5 5.52 5.53 5.39 5.49 11519700 62777544 26222178 MRC ALLIED 0.39 0.395 0.395 0.395 0.39 0.395 8280000 3253600 PHIL ESTATES 0.45 0.455 0.455 0.455 0.445 0.45 5620000 2529900 PRIMEX CORP 2.8 2.86 2.82 2.87 2.79 2.86 43000 120860 ROBINSONS LAND 23.65 23.7 23.5 23.7 22.8 23.7 1166500 27101150 10463390 PHIL REALTY 0.45 0.47 0.45 0.45 0.45 0.45 330000 148500 ROCKWELL 2.01 2.02 2.02 2.03 2.01 2.02 45000 90750 SHANG PROP 3.12 3.15 3.15 3.15 3.12 3.12 167000 522660 162720 STA LUCIA LAND 1.56 1.57 1.58 1.58 1.53 1.56 514000 801290 -84150 SM PRIME HLDG 36.7 37.2 38 38.4 36.7 36.7 11214000 417566870 -267720840 STARMALLS 7 7.09 7.02 7.14 6.9 7 181900 1273776 71290 SUNTRUST HOME 0.75 0.8 0.81 0.82 0.75 0.8 623000 474600 PTFC REDEV CORP 45 46 43.05 45.2 43.05 45.2 1100 48440 VISTA LAND 7.19 7.2 7.22 7.35 7.18 7.2 7486300 54087646 -26524448 SERVICES ABS CBN 21.15 21.2 21.3 21.4 21.2 21.3 141000 3002570 GMA NETWORK 5.71 5.72 5.73 5.73 5.71 5.71 94700 541906 MANILA BULLETIN 0.61 0.62 0.6 0.63 0.6 0.62 2193000 1346430 GLOBE TELECOM 1878 1905 1890 1910 1865 1878 35130 65981975 -23900795 PLDT 1102 1107 1090 1113 1089 1107 114980 127088055 9308430 APOLLO GLOBAL 0.045 0.046 0.045 0.046 0.044 0.046 11200000 503900 DFNN INC 6.98 7 7 7 7 7 50500 353500 ISLAND INFO 0.128 0.131 0.128 0.131 0.127 0.131 2350000 300060 ISM COMM 5.27 5.28 5.44 5.44 5.23 5.28 5924900 31544595 -1162338 JACKSTONES 3.14 3.28 3.29 3.29 3.29 3.29 1000 3290 NOW CORP 2.84 2.86 2.89 2.9 2.82 2.84 1405000 4001980 2860 TRANSPACIFIC BR 0.43 0.435 0.435 0.44 0.43 0.43 3890000 1676550 8600 PHILWEB 2.78 2.79 2.8 2.8 2.76 2.79 1095000 3043570 -826550 2GO GROUP 12.12 12.16 11.88 12.16 11.84 12.16 22800 273582 1216 CEBU AIR 81.5 83.6 83 84.5 81.5 81.5 126940 10537971.5 -6047076.5 CHELSEA 5.83 5.84 5.62 5.88 5.62 5.83 763900 4423661 543059 INTL CONTAINER 118.4 119 114.9 120.4 114.3 119 3774330 448794606 126008874 LBC EXPRESS 15.26 15.5 15.5 15.5 15.24 15.26 4400 67136 -60960 LORENZO SHIPPNG 0.89 0.91 0.9 0.91 0.89 0.91 39000 34910 MACROASIA 19.84 19.94 19.6 20.3 19.6 19.94 1200400 23836095 4249274 METROALLIANCE A 1.9 1.96 1.98 1.98 1.9 1.96 98000 188650 METROALLIANCE B 1.6 2.15 1.95 1.95 1.95 1.95 1000 1950 PAL HLDG 10.44 10.46 10.38 10.48 10.38 10.44 36000 375244 14502 HARBOR STAR 2.93 2.94 2.95 3.09 2.94 2.94 8025000 24151430 367610 ACESITE HOTEL 1.28 1.33 1.28 1.28 1.28 1.28 13000 16640 BOULEVARD HLDG 0.075 0.076 0.073 0.077 0.072 0.075 253480000 18928680 756480 DISCOVERY WORLD 2.11 2.15 2.25 2.26 2.11 2.15 22000 48010 WATERFRONT 0.66 0.67 0.66 0.68 0.66 0.67 675000 450910 -14060 IPEOPLE 11 11.08 11 11 11 11 6100 67100 STI HLDG 0.7 0.71 0.71 0.72 0.7 0.71 1119000 786220 -173260 BERJAYA 2.81 2.88 2.86 2.88 2.79 2.88 461000 1300540 -62660 BLOOMBERRY 11.8 11.82 11.72 11.94 11.66 11.8 5626400 66247164 -4951688 PACIFIC ONLINE 9.21 9.48 9.21 9.21 9.21 9.21 200 1842 LEISURE AND RES 3.3 3.31 3.28 3.34 3.27 3.3 266000 877830 6590 MANILA JOCKEY 4.7 4.9 4.7 4.91 4.7 4.9 105000 495740 PH RESORTS GRP 4.95 4.99 5 5 4.9 4.99 106000 525730 PREMIUM LEISURE 0.89 0.9 0.91 0.91 0.9 0.9 1831000 1657480 176080 TRAVELLERS 5.6 5.62 5.62 5.62 5.6 5.6 162100 907830 -120470 METRO RETAIL 2.99 3 3.07 3.07 2.99 3 1974000 5983490 -21960 PUREGOLD 47.65 47.7 48.7 48.7 47.5 47.7 169500 8090905 -4833190 ROBINSONS RTL 86 86.45 85 86.5 85 86 240720 20574010.5 -10998464 PHIL SEVEN CORP 132 135 135 135 134 135 23500 3171887 161417 SSI GROUP 2.38 2.39 2.38 2.41 2.36 2.39 14388000 34234340 -9627550 WILCON DEPOT 15.7 15.76 15.5 16.08 15.5 15.7 10193600 160446204 49384880 APC GROUP 0.425 0.435 0.435 0.435 0.43 0.43 120000 51700 -43000 EASYCALL 14.56 14.58 14.72 14.9 14.56 14.58 178400 2614380 -4410 GOLDEN BRIA 376 380 376 381.6 371.2 380 3240 1220456 IPM HLDG 7.07 7.13 7.1 7.1 7.07 7.07 7500 53130 PAXYS 3.11 3.4 3.08 3.4 3.08 3.4 6000 18800 -12000 PRMIERE HORIZON 1.22 1.23 1.28 1.3 1.22 1.22 32878000 41006070 -409250 SBS PHIL CORP 8.34 8.5 8.34 8.34 8.34 8.34 32400 270216 MINING & OIL ATOK 13.1 13.5 13.6 13.6 13.6 13.6 200 2720 APEX MINING 1.44 1.46 1.47 1.48 1.44 1.45 3331000 4875150 74070 ABRA MINING 0.002 0.0022 0.0021 0.0021 0.002 0.0021 917000000 1924600 ATLAS MINING 2.91 2.95 2.91 2.95 2.91 2.91 112000 327520 103410 BENGUET A 1.18 1.21 1.17 1.17 1.15 1.15 120000 139100 COAL ASIA HLDG 0.295 0.3 0.295 0.295 0.295 0.295 100000 29500 CENTURY PEAK 2.26 2.27 2.24 2.26 2.24 2.26 823000 1850750 FERRONICKEL 1.48 1.49 1.49 1.49 1.48 1.49 2370000 3508330 -88800 GEOGRACE 0.247 0.255 0.255 0.255 0.247 0.255 1100000 274180 LEPANTO A 0.121 0.126 0.125 0.126 0.121 0.121 3980000 487340 MANILA MINING A 0.0081 0.0086 0.0081 0.0081 0.0081 0.0081 3000000 24300 MARCVENTURES 1.08 1.09 1.09 1.09 1.08 1.09 33000 35850 NIHAO 1.02 1.06 1.08 1.08 1.03 1.07 27000 27940 NICKEL ASIA 2.65 2.67 2.68 2.71 2.65 2.65 2976000 7933560 -2621990 OMICO CORP 0.59 0.62 0.6 0.62 0.6 0.62 88000 52840 ORNTL PENINSULA 0.92 0.93 0.94 0.94 0.93 0.93 100000 93250 PX MINING 3.91 3.92 4 4.03 3.9 3.92 1240000 4907080 -430420.0001 SEMIRARA MINING 20.1 20.25 20 20.35 20 20.1 1196200 24072630 -1827400 UNITED PARAGON 0.0073 0.0075 0.0074 0.0076 0.0073 0.0073 31000000 228200 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 29100000 349300 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 6800000 81600 12000 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 3500000 39200 PHINMA PETRO 3.17 3.25 3.16 3.3 3.16 3.3 28000 88820 PXP ENERGY 14.06 14.16 14.34 14.36 14 14.06 2303700 32561168 -4180984

PREFFERED AC PREF B1 AC PREF B2 DD PREF SMC FB PREF 2 FGEN PREF G LR PREF MWIDE PREF PNX PREF 3B SFI PREF SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2F SMC PREF 2H SMC PREF 2I

468 483 98.25 970 102 0.98 100 103.5 1.7 75.1 76.9 71.85 74.9 72 71.5

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

20.2 5.59

475 497 98.35 978 104.4 0.99 101.9 106.4 1.8 75.45 76.95 73.5 75 73 73

470 497 98.35 980 102.5 0.99 101 103.5 1.8 75.45 76.85 72.6 75 72 72.4

470 497 98.35 980 102.5 0.99 101 103.5 1.8 75.45 76.95 72.6 75 72.05 72.4

470 497 98.35 980 102.5 0.98 101 103.5 1.8 75.45 76.7 71.4 75 71.9 72

470 497 98.35 980 102.5 0.98 101 103.5 1.8 75.45 76.95 71.4 75 72 72

430 10 150 40 200 105000 5500 230 1000 30 20610 50800 200 88400 10510

202100 4970 14752.5 39200 20500 103570 555500 23805 1800 2263.5 1583096 3677602 15000 6363515 756850

19600 23805 15369.9999 3549600 -

20.3 5.78

20.2 5.58

20.2 5.59

20.1 5.58

20.2 5.59

35000 16000

705405 89438

-459965 -

WARRANTS LR WARRANT

1.85

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.06 MAKATI FINANCE 2.69 XURPAS 1.38

1.88

1.88

1.88

1.85

1.88

53000

98260

-

5.07 2.89 1.39

4.91 2.69 1.37

5.07 2.69 1.41

4.91 2.69 1.36

5.06 2.69 1.38

531000 3000 5084000

2673400 8070 7030040

-35280 199390

EXHANGE TRADE FUNDS FIRST METRO ETF

115.3

115.5

115.5

115.5

115.3

115.3

4410

508938

225075

Editor: Efleda P. Campos

Cebu Pacific allots $5B to refleeting program

C

By Lorenz S. Marasigan

@lorenzmarasigan

EBU CITY—Budget carrier Cebu Pacific may spend up to $5.07 billion when it implements its new refleeting program that would entail the acquisition of as many as 15 wide-body jets. Michael Ivan S. Shau, the company’s COO, said his group is evaluating its strategy on replacing its eight old Airbus A330s with new, more fuelefficient wide-body airliners. He said the group is considering acquiring either Boeing 787 and the Airbus A330 neo (new engine option)

jets, depending on the value they will add to the company’s operations. “We are looking at replacing our A330 fleet with a fleet size of 10 to 15 wide-body aircraft,” Shau said. “We’re always looking for the best available option to bring maximum savings for our passengers.”

Based on their list prices, an A330 neo costs about $259.9-million each, or about $3.9 billion for 15 new jets. A Boeing 787-10, the biggest of the 787 family, costs about $338.4-million each, or about $5.07 billion for 15 new Dreamliners. Shau noted that all these are still under discussion, with Cebu Pacific formally requesting more information on the two aircraft brands. “We need to request for information. We still haven’t gone to the commercial aspects of it,” he said. The whole process—even if the aircraft is available—would take about 18 months to complete, Shau said. Cebu Pacific currently has a fleet of one Airbus A321neo, 36 Airbus A320s, seven Airbus A321ceos, eight Airbus A330s, eight ATR 72-500s and

12 ATR 72-600s. It is set to receive 12 brandnew aircraft in 2019—six Airbus A321neos, five A320 neos, and one ATR 72-600. Through 2022, the company will engage in a massive refleeting program that will upgrade old aircraft and add more fuel-efficient ones to end 2022 with 83 jets. Being the largest airline in the Philippines by volume, Cebu Pacific aims to spur traveling among Filipinos. For 2019, it targets to serve as many as 23 million passengers, and reach the 200-millionth passenger mark by 2020. Cebu Pacific and subsidiary Cebgo fly to 36 domestic and 26 international destinations, with over 107 routes spanning Asia, Australia, the Middle East and the US.

DoubleDragon signs JV deal with Davao’s Alcantara Group for CentralHub project

P

ROPERTY developer DoubleDragon Properties Corp. on Tuesday said its unit has signed a joint venture agreement with the Alcantara Group to establish its industrial complex in Davao City. The CentralHub-Davao project will be 70 percent owned by CentralHub Industrial Centers Inc. and 30 percent by Alsons Development and Investments Corp., the company said. The industrial complex has an area of 8.2 hectares and has a capacity of 40,392 square meters (sq m) of leasable warehouse space. This will be the first of DoubleDragon’s industrial complex in Mindanao and the company’s fourth nationwide, following projects in Cebu, Iloilo and Tarlac. A total of 23.3 hectares of prime industrial land has been acquired by CentralHub with a total capacity of 121,626 sq m of leasable industrial warehouse space. “DoubleDragon makes sure it focuses only in ‘sunrise’ sectors

within the real-estate industry that is expected to remain relevant in at least the next 50 years. The company has been focused on building up its portfolio of prime hard assets that can generate high double-digit rental yields and deploy capital only in select prime properties that can appreciate five to 10 folds in the next five years to 10 years,” said Edgar Sia II, the company’s chairman. CentralHub is envisioned to become the leading provider of industrial warehouses in the Philippines through the development of its first eight complexes by 2020. These are projected to have a total capacity of up to 400,000 sq m of warehouse leasable space. Each will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing and logistic distribution centers. The company aims to have at least 100,000 sq m of leasable industrial warehouse space across these eight sites completed by 2020. VG Cabuag

DOE reminds EWG of LNG project’s 2-year delay

E

NERGY Secretary Alfonso G. Cusi has called the attention of Energy World Gas Operations Philippines Inc. for the more than two years of delay in its liquefied natural gas (LNG) project. “It’s hurting us. It’s affecting our planning because that is a committed capacity. That is already counted as a committed capacity and we have projected when they will be online. They have been delayed for more than two years,” Cusi said. The Department of Energy (DOE) awarded Energ y World Gas a permit last December 21 to proceed with the construction and operation of the LNG import terminal and regasification facility in Pagbilao, Quezon. With the permit, EWG said it would be able to align the completion of the first tank of the LNG hub with the commercial operation date of its planned 650-megawatt (MW) power plant. The terminal will consist of two full containment onshore tanks with a pumpable capacity of 130,000 cubic meters of LNG each. The facility also consists of a dedicated jetty and marine infrastruc-

ture for the loading and unloading of LNG ships, as well as regasification, control center and workshops and other ancillary facilities. The permit, issued on December 21, 2018, provides EWG 24 months to construct the LNG hub from the issue date. There is no penalty, however, imposed on power firms who fail to deliver their commitment on time. “We can only continue to investigate. We can only push for the project and encourage them to complete it,” Cusi said. T he DOE has been t r y ing to encourage proponents of an LNG import terminal ahead of the depletion of the Malampaya natural gas. The Malampaya gas-to-power facility fuels three gas-fired power plants with a total generating capacity of 2,700 MW equivalent to 30 percent of the power-generation requirements of Luzon. “We are also aspiring for our own energy security. We will continue to explore. We want to continue to have the gas. So, I don’t think it is an issue why we should be doing LNG now if there is still gas left,” Cusi said. Lenie Lectura

MUTUAL FUNDS

March 12, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 258.43 -9.24% 1.45% 1.57% 2.46% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.591 -1.76% 11.29% 4.13% 10.42% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0346 -10.43% 2.23% 0.38% 3.37% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.918 -6.57% N.A. N.A. 3.09% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.845 N.A. N.A. N.A. 2.96% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.399 -7.1% 1.26% 1.16% 2.43% MBG EQUITY INVESTMENT FUND, INC. -A 125.93 7.47% N.A. N.A. 8.13% ONE WEALTHY NATION FUND, INC. -A 0.8542 -10.45% -4.37% N.A. 2.62% PAMI EQUITY INDEX FUND, INC. -A 50.7126 -8.01% 2.21% N.A. 3.06% PHILAM STRATEGIC GROWTH FUND, INC. -A 532.58 -7.35% 1.27% 1.08% 3.47% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.2841 -6.12% 3.11% 4.2% 2.4% PHILEQUITY FUND, INC. -A 37.8545 -6.33% 3.75% 3.6% 3.34% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0087 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.1272 -7.58% 3.15% 3.47% 3.4% PHILIPPINE STOCK INDEX FUND CORP. -A 855.69 -7.48% 2.86% 3.35% 3.28% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.904 -4.91% 1.66% N.A. 4.97% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2262 -5.73% 3.3% 2.49% 4.12% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9844 -7.86% 2.85% N.A. 3.15% UNITED FUND, INC. -A 3.6114 -4.68% 4.78% 3.43% 3.15% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 114.4524 -7.2% 3.97% 4.43% 3.34% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9857 -12.07% 6.81% 0.95% 6.09% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2272 -5.59% N.A. N.A. 11.05% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6968 -6.15% -0.33% -1.26% 2.76% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2764 -5.67% 1.44% 0.79% 3.04% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6026 -4.54% -0.92% -1.31% 2.31% GREPALIFE BALANCED FUND CORPORATION -A 1.3341 -6.62% N.A. N.A. 2.28% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.8916 -3.41% 1.42% 1.34% 2.63% PAMI HORIZON FUND, INC. -A 3.6017 -6.06% -0.08% 0.27% 2.05% PHILAM FUND, INC. -A 16.2951 -4.98% 0.15% 0.41% 2.44% SOLIDARITAS FUND, INC. -A 2.1113 -4.28% 1.62% 2.21% 1.88% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.7894 -3.81% 1.57% 1.56% 3.78% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.977 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9698 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.968 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9607 -4.05% 1.2% N.A. 4.23% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0357 1.42% 0.17% 1.59% 1.28% PAMI ASIA BALANCED FUND, INC. -A $0.9701 -9.28% 3.85% -0.51% 3.62% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.5767 -3.82% 6.02% 1.94% 8.11% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0644 -3.17% N.A. N.A. 5.39% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 346.07 2.61% 2.03% 1.98% 0.78% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8666 -0.39% -0.39% -0.45% 0.4% COCOLIFE FIXED INCOME FUND, INC. -A 2.9979 5.35% 5.27% 5.25% 0.91% EKKLESIA MUTUAL FUND INC. -A 2.1527 2.28% 1.55% 1.68% 1.04% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2367 1.29% 0.27% 0.81% 1.24% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5963 -0.63% -0.42% 0.25% 2.04% PHILAM BOND FUND, INC. -A 3.9581 -0.62% -0.81% 0.31% 0.98% PHILEQUITY PESO BOND FUND, INC. -A 3.5876 2.81% 1.27% 1.06% 2% SOLDIVO BOND FUND, INC. -A 0.9111 0.16% -0.69% N.A. 2.07% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8502 2.52% 1.55% 1.44% 3.05% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5807 2.08% 1.11% 0.97% 2.65% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $452.09 2.28% 2.01% 2.94% 0.85% ALFM EURO BOND FUND, INC. -A Є214.98 1.06% 1.36% 1.55% 1.1% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1557 3.46% 1.47% 2.14% 2.66% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.025 0.81% 0.68% N.A. 0.81% GREPALIFE DOLLAR BOND FUND CORP. -A $1.6997 -1.53% -1.17% 0.82% 0.56% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0534 0.55% -0.9% -2.38% 1.52% PHILAM DOLLAR BOND FUND, INC. -A $2.2229 2.24% 0.43% 2.7% 2.38% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0576678 1.51% 1.02% 1.71% 1.21% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9364 - 0.16% -0.07% 1.94% 2.24% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.04 3.46% 2.12% 1.73% 0.99% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0044 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1899 2.45% 0.93% 0.66% 0.68% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2282 3.02% 2.4% 1.75% 0.75% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0208 2.04% N.A. N.A. 0.48% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

The World BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso • Wednesday, March 13, 2019

Pelosi waves off impeachment, says it would divide the country T

B3

15 foreign policy experts call for release of Canadian in China

W

ASHINGTON—House Speaker Nancy Pelosi is setting a high bar for the impeachment of President Donald J. Trump, saying he is “just not worth it,” even as some on her left flank clamor to start proceedings. Pelosi said in an interview with The Washington Post that “I’m not for impeachment” of Trump. “Unless there’s something so compelling and overwhelming and bipartisan, I don’t think we should go down that path, because it divides the country,” she said. While she has made similar comments before, Pelosi is making it clear to her caucus and to voters that Democrats will not move forward quickly with trying to remove Trump from office. And it’s a departure from her previous comments that Democrats are waiting on special counsel Robert Mueller to lay out findings from his Russia investigation before considering impeachment. That thinking among Democrats has shifted, slightly, in part because of the possibility that Mueller’s report will not be decisive and because his investigation is more narrowly focused. Instead, House Democrats are pursuing their own broad, high-profile investigations that will keep the focus on Trump’s business dealings and relationship with Russia, exerting

congressional oversight without having to broach the I-word. Oversight and Reform Committee Chairman Elijah Cummings, one of the lawmakers leading those investigations, said he agrees with Pelosi, and Congress needs “to do our homework.” He said impeachment “has to be a bipartisan effort, and right now it’s not there.” “I get the impression this matter will only be resolved at the polls,” Cummings said. Still, Pelosi’s comments are certain to stoke a stubborn tension with those who believe impeachment proceedings should have begun on day one of the new Congress. Some new freshman Democrats who hail from solidly liberal districts haven’t shied away from the subject—Michigan Rep. Rashida Tlaib used a vulgarity in calling for Trump’s impeachment the day she was sworn in. Billionaire activist Tom Steyer, who is bankrolling a campaign pushing for Trump’s impeachment, shot back at Pelosi on Monday: “Speaker Pelosi thinks ‘he’s just not worth it?’ Well, is defending our legal system

‘worth it?’ Is holding the president accountable for his crimes and coverups ‘worth it?’ Is doing what’s right ‘worth it?’ Or shall America just stop fighting for our principles and do what’s politically convenient?” Neil Sroka of the liberal advocacy group Democracy for America said Pelosi’s comments were “a little like an oncologist taking chemotherapy off the table before she’s even got your test results back.” Other lawmakers who have called for impeachment looked at Pelosi’s comments more practically. Rep. Brad Sherman, D-Calif., who filed articles of impeachment against Trump on the first day of the new Congress in January, acknowledged that there is not yet public support for impeachment, but noted that Pelosi “didn’t say ‘I am against it if the public is clamoring for it.’” Sherman said that the multiple Democratic investigations of Trump might be a substitute for impeachment, “it’s also possible it will be a prelude.” Republicans alternately praised Pelosi and were skeptical. White House Press Secretary Sarah Sanders said “I agree” in response to Pelosi’s words. Sanders added of impeachment, “I don’t think it should have ever been on the table.” House Republican Leader Kevin McCarthy said it was a “smart thing for her to say,” but Georgia Rep. Doug Collins, the top Republican on the Judiciary Committee, said he doesn’t think it’s “going to fly” with some of Pelosi’s members. “I do believe what Speaker Pelosi

understands is that what they’re wanting to do is going to require far more than what they have now, so I think they are hedging their bet on it,” Collins said. Pelosi has long resisted calls to impeach the president, saying it’s a “divisive” issue that should only be broached with “great care.” She refused calls when she first held the speaker’s gavel, in 2007, to start impeachment proceedings against George W. Bush. Having been a member of Congress during President Bill Clinton’s impeachment, she saw the way the public turned on Republicans and helped Clinton win a second term. Heading into the midterm elections, she discouraged candidates from talking up impeachment, preferring to stick to the kitchen-table issues that she believes most resonate with voters. Pelosi has often said the House should not pursue impeachment for political reasons, but it shouldn’t hold back for political reasons, either. Rather, she says, the investigations need to take their course and impeachment, if warranted, will be clear. Freshman Democrats who are from more moderate districts and will have to win reelection again in two years have been fully supportive of Pelosi’s caution. “When we have something that’s very concrete, and we have something that is compelling enough to get a strong majority of Americans, then we’ll do it,” said Rep. Katie Hill, D-Calif. “But if it’s going to be a political disaster for us, then we’re not going to do it.” AP

Fear of Trump walking on Xi haunts China

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ONALD J. TRUMP regularly touts the strength of his personal relationship with Xi Jinping, talking about the Chinese leader in the sort of warm terms US presidents normally reserve for long-standing allies. Yet, as the world’s two largest economies inch toward a trade agreement designed to define and reorder their economic relationship for years to come, one question looms large: Does Xi trust Trump enough to get on a plane and seal the deal? Trump and his aides have for weeks been pushing for Xi to agree to a meeting at Mar-a-Lago, the President’s club and resort in Palm Beach, Florida, to finalize a deal as soon as this month to end a dispute that has cast a shadow over the global economy. Trump himself has said that it’s only when the two leaders meet that the final details can be ironed out. Chinese officials, however, have long been wary of putting Xi in a position where he might be embarrassed by an unpredictable Trump or forced into last-minute concessions. “That is the real conundrum for Xi,’’ said Eswar Prasad, an expert on the Chinese economy at Cornell University who regularly meets with senior officials in Beijing. “The concern about being snookered by Trump at the negotiating table is a real risk for Xi.’’ China’s worries are flipping the US script on its head. As Trump claims to be the first American president to stand up to Beijing, his aides have built a possible deal on a foundation of distrust. In their view, a China that has for decades lied and cheated its way to economic success cannot be trusted to live up to any commitments unless a deal has teeth. “That’s the fundamental question,’’ Robert Lighthizer, the US trade representative, told Congress on February 27. “What the president wants is an agreement that, number one, is enforceable.’’ Officials in Beijing insist they’ve played by inter-

national rules and just want to be sure Trump won’t again kill an agreement at the last minute. Trump has rejected at least two deals brought to him since he first hosted Xi at Mar-a-Lago in April 2017: One struck by Commerce Secretary Wilbur Ross for China to cut steel overcapacity and another negotiated by Treasury Secretary Steven Mnuchin last year. Both would’ve averted a trade war. The latter one was particularly jarring for Xi, who faces pressure in China to avoid giving up too much in a deal with Trump. Vice Premier Liu He came to Washington as Xi’s special representative, and declared to China’s state-run media that a trade war had been averted. After Trump backtracked, talks stalled for months until the two leaders met in December at the Group of 20 summit in Argentina. Last month, Trump’s decision to walk away from his Hanoi summit with North Korea’s Kim Jong Un without a deal only reinforced China’s concerns about the president’s unpredictability. Former Commerce Vice Minister Wei Jianguo argues that because the US and China are great powers, Trump would never walk away from Xi as he did with Kim. The consequences would be too great. “It is important to boost confidence in a slowing global economy,” Wei said. There are parallels for the Chinese. In 1999, Chinese Premier Zhu Rongji faced a nationalist backlash after a last-minute change of course by the Clinton administration threw a deal for China’s accession to the World Trade Organization into doubt. Erin Ennis, who tracks the negotiations for the US-China Business Council, said a Trump snub of Xi this time around would be an order of magnitude greater than any previously. Then again, she said, “I don’t think the Chinese are the only government in the world that is not entirely sure what they are getting when they send their head of state into a

meeting with the president of the United States.’’

Daily talks

TRUMP has for months pushed to sign a deal, and that has fundamentally changed the dynamics of negotiations. In recent days, both sides have held daily conference calls. China’s state-run Xinhua News Agency reported on Tuesday that Liu, Lighthizer and Mnuchin decided on arrangements for the next stage of trade talks, without providing more details. China last week revised an offer on intellectual-property protection, one focal point of the negotiations, according to people briefed on the offer. It has also pledged to increase purchases of American goods by $1.2 trillion over six years and to open its market in some key sectors, raising hopes that it might finally allow US firms to compete in forbidden areas, such as cloud computing. As a deal gets closer, Chinese officials also want the US to agree that any commitments go both ways, particularly on enforcement. The US wants China to agree not to retaliate against any punitive measures Washington might apply if Beijing doesn’t meet its commitments. But Vice Commerce Minister Wang Shouwen over the weekend countered any enforcement mechanism would have to be “two-way, fair and equal.” Bloomberg News

Mahathir weighs shutdown or sale of Malaysia Airlines

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RIME Minister Mahathir Mohamad said he’s studying options for flag carrier, Malaysian Airline System Bhd., including whether to invest more funds, sell it off or even shut the company down. “It is a very serious matter to shut down the national airline,” he told reporters at parliament. “We will, nevertheless, be studying and investigating as to whether we should shut it down or we should sell it off or whether we should refinance it. All these things are open for the govern-

ment to decide. We have to decide soon.” Malaysia Airlines has sought to turn itself around since being taken private by sovereign wealth fund Khazanah Nasional Bhd. in 2014. That followed tragic incidents involving one of its planes disappearing over the Indian Ocean and another being shot down over Ukraine. Khazanah is demanding the carrier to come up with a strategic plan to compete in the industry, after pouring in 6 billion ringgit ($1.5 billion) into the airline to make it profitable. Bloomberg News

ORONTO—Fifteen prominent US foreign policy experts on Monday called for the release of a Canadian detained in China in apparent retaliation for the arrest of a top Chinese tech executive in Canada. The scholars and think tank executives released a joint statement saying Michael Kovrig’s detention is worrying because independent policy research institutions can help mitigate conflict during a time of growing differences and heightened suspicions between China and the West. “This is why we are particularly concerned by the detention of one of our colleagues,” the statement said. “Michael’s arrest has a chilling effect on all those who are committed to advance constructive US-China relations.” Kovrig is an expert on Asia and works at International Crisis Group think tank. China arrested Kovrig and anoth-

er Canadian on December 10, apparently attempting to pressure Canada to release Huawei executive Meng Wanzhou. Meng was arrested at the request of US authorities who want her extradited to face fraud charges. The scholars include Nicolas Burns from Harvard, Anne-Marie Slaughter from Princeton and retired US Gen. John Allen from the Brookings Institute, among others. Kovrig and Canadian entrepreneur Michael Spavor haven’t had access to a lawyer since being arrested. A Chinese court also sentenced a Canadian to death in a sudden retrial on allegations of drug trafficking, overturning a 15-year prison term handed down earlier. China is also blocking some imports of canola from Canada, in a development that could be related to Meng’s case. Meng is out on bail, living in one of her two Vancouver homes awaiting extradition proceedings to begin. Her case could take years to be resolved. AP

Honda to recall around 1M cars with dangerous air bags

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ETROIT—Honda is likely to recall around 1 million older vehicles in the US and Canada because the Takata driver’s airbag inflators that were installed during previous recalls could be dangerous. Documents posted on Monday by Canadian safety regulators show that Honda is recalling many of its most popular models for a second time. The models are from as far back as 2001 and as recent as 2010. Canadian documents say about 84,000 vehicles are involved. That number is usually over 10 times higher in the United States. Affected models include the Honda Accord from 2001 through 2007, the CR-V from 2002 through 2006, the Civic from 2001 through 2005, the Element from 2003 through 2010, the Odyssey from 2002 through 2004, the Pilot from 2003 through 2008 and the Ridgeline from 2006. Also covered are Acura luxury models, including the MDX from 2003 through 2006, the EL from 2001 through 2005, the TL from 2002 and 2003, and the CL from 2003. Transport Canada, the country’s

transportation safety agency, said vehicles covered include those that were under previous recalls and others that had airbags replaced after collisions. Takata used the chemical, ammonium nitrate, to create a small explosion to inflate the air bags. But the chemical can deteriorate over time due to high humidity and cycles from hot temperatures to cold. It can burn too fast and blow apart a metal canister, hurling shrapnel into drivers and passengers. At least 23 people have died from the problem worldwide, and hundreds more were injured. The recalls are part of the largest series of automotive recalls in US history. As many as 70 million will be recalled. Honda spokesman Chris Martin wouldn’t give details on Monday evening, but said the company is communicating with the US National Highway Traffic Safety Administration “and plans to issue a public statement tomorrow.” Messages were left after business hours on Monday seeking comment from NHTSA. AP

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BARBIE PAINTS THE TOWN PINK! SUZUKI UNVEILS ALL-NEW JIMNY

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IONEER compact distributor Su z u k i Ph i l ip pi nes u nve i l s another surprising innovation for the Filipinos—the all-new Jimny All-Grip Pro. The launching, held at the BGC Amphitheater at The Fort on March 8, is part of a three-leg activation in key areas of the Metro. The second part will be held at the Eastwood Central Plaza, while the third one will be at the UP Town Center Amphitheater. The fourth generation of Suzuki’s trademark 4x4 boasts a simple, rugged

design that exudes tough strength guaranteeing real off-road adventure across any terrain, trail and even thick forests. “Our determination to provide simple, straightforward and functional vehicles, such as the Suzuki Jimny AllGrip Pro, underscores our commitment to continuously provide innovation that Filipinos can rely on. Every detail of the fourth-generation Jimny—from the body to the engine—is designed to deliver the maximum performance and durability required by serious off-road travelers.

With this newest addition to our lineup of vehicles, more Filipinos can now enjoy the Suzuki Way of Life as they explore more challenges and adventures,” said Suzuki Philippines director and automobile division general manager Keiichi Suzuki. The fourth iteration of this popular Suzuki SUV uses a ladder frame that is more resistant than a monocoque body to torsion and is, therefore, better suited for off-road, rough terrain. Compared with many SUVs today, with independent suspensions, the Jimny uses a long-stroke three-link suspension and rigid-full wheel axles on both front and rear for strong traction on uneven terrain. The Jimny can climb over steep hills without scrapping its bumpers or underbody. The vehicle’s 37-degree specialized approach angle, 28-degree ramp-breakover angle and 49-degree departure angle allow it to maneuver over ridges and verticals. With its part-time 4WD with lowrange transfer gear, the Jimny can switch between 4WD and 2WD to achieve optimal off-road performance, and better fuel economy and enhanced cornering on paved roads, respectively. The SUV also has extra torque in the 4L mode for rough terrain. The Suzuki Jimny All-Grip Pro starts at P975,000. It is now available for reservation through all authorized Suzuki dealers.

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HE SM City North celebrated the Internation Women’s Day in style, coinciding with the 60th anniversary of the iconic Barbie doll, and partied in pink together with Mattel. Nine exceptional women were honored for their achievements and recognized as the Most Inspiring Women in the country. The grand celebration was attended by today’s brightest

young personalities from the children’s gag show Going Bulilit, Dr. Vicky Belo, Charo Santos-Concio, among other guests. In photo are (from left) Jane Yao, Anna Melissa Tang Yao, Ivan Franco, Belo, Myrna Tang Yao, Concio, Chef Jessie Sincioco, Alice Eduardo, Joanne Rae Ramirez, Armie Jarin-Bennett, Camille Villar, Carina Dayondon, Mayor Lani Cayetano’s chief of staff and Rose Dylim.

INDUSTRIES, PROFESSIONALS GATHER TO DISCUSS THE FUTURE OF DATA PRIVACY, SECURITY

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CTING Information Secretary Eliseo Rio Jr. will introduce the national information and communications technology ecosystem framework (Nictef) at the 1*DATA Privacy and Security Solutions Day on March 20 at the Makati Shangri-La Hotel. The Nictef is a newly minted technology direction for the Department of Information and Communications Technology (DICT), which will serve as the major blueprint on the future direction of the department for its initiatives. The 1*DATA brings together thought leaders and influencers in government, private sector and professional associations. It is organized by the National Association of Data Protection Officers of the Philippines (Nadpop), which is the first homegrown association of privacy professionals in the country. “Nadpop members know that, in order for them to handle the responsibilities in managing personal information in their respective organizations, they will need the help of world-class solutions providers,” shared Sam Jacoba, Nadpop founding president and 1*DATA conference chairman. “We also wish to inspire them to become world-class privacy

and security professionals, which is the foundation in strengthening our country’s data-privacy ecosystem.” Former National Privacy Commission deputy commissioner and Nictef consultant Dondi Mapa will reinforce this through “Solutions Framework for Data Privacy and Security”. United Nations consultant Dr. Emmanuel Lallana will then unveil a competencies framework for officers, which will help Nadpop to develop their initiatives . Henry Aguda, Unionbank chief technology and operations officer, chief transformation officer and UBX board chairman, will further highlight the importance of deploying world-class solutions on “The Tech of Security”, which is part of a bigger discussion on “The Science, Art and Tech of Data, Privacy and Security” at the plenary session. The 1*DATA will also see industry associations, like the Infocomm Technology Association of the Philippines; the Integrated Bar of the Philippines shares “The State of Data Privacy” in their respective industries. To register, interested parties may e-mail at events@ nadpop.org.

DLSU HOSTS INTERNATIONAL CONFERENCE ON OUTCOMES-BASED EDUCATION

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E La Salle University (DLSU) hosted the 2019 Asean University Network Quality Assurance (AUN-QA) international conference on March 4 and 5 at Dusit Thani Hotel. Themed “To Be Or Not To Be: Outcomes-Based Education and AUN-QA Quality Culture in Practice”, the conference served as a platform for administrators, educators and quality-assurance practitioners from all over the world to discuss the need to transition from input-based teaching to outcomes-based learning in order to adapt to the needs of a fast-paced and technologically connected society, brought about by the Fourth Industrial Revolution. The conference sessions also delved on how to transition from input-based teaching to outcomes-based learning, and how to effectively use learning management systems, foster deep and active links with stakeholders, and generate a principles-based quality culture. Keynote speakers for the event were former Education Secretary and De La Salle Philippines President Br. Armin Luistro, FSC, University College Cork President Emeritus Prof. Michael Murphy, and Vienna University of Economics and Business dean of accreditations and quaity managememt Dr. Oliver Vettori. Their lectures

were “New paradigms for raising both quality and university recognition in the disrupted world of higher education”, “Quality Assurance as a survive-and-thrive strategy in a disrupted world” and “From quality assurance to quality assured: More deeply ingraining a quality culture within our communities”, respectively. For this year’s event, attendees from the Asean region Europe and Latin America participated in the conference. The AUN-QA Network is established as “the Asean quality-assurance network in higher education.” The organization is geared toward promoting quality assurance in higher education institutions, raising the quality of higher education, and collaborating with both regional and international bodies for the benefit of the Asean community.

‘SUN READY, FUN READY’ WITH DERMPLUS

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HIS 2019 Dermplus unveils its “Sun Ready, Fun Ready” summer campaign celebrating countless outdoor activities without worrying about sun damage. With Dermplus, nothing holds you back from your active lifestyle. An all-encompassing brand, Dermplus goes beyond your usual summer vacation. Whether you are planning to plunge at the beach, getting your game on with outdoor sports or just pursuing your daily activities, you have to make sure you are equipped with Dermplus. Dermplus boasts a formulation that maximizes a sunscreen’s potential: High SPF for superior sun protection, broad-spectrum with UVA and UVB protection, water-resistant and Paba-free to avoid allergic reactions. Dermplus products are also dermatologist-tested and have a high Boot Star rating, a European standard for sunscreen. Dermplus moisturizing sunscreens are formulated with titanium dioxide to prevent further skin damage and aging. It comes in inclusive variants perfect for the sun protection needs of those who love

bright, sunny days and shy away from the sun: Dermplus SPF130, Dermplus SPF80, Dermplus SPF35 in scented and unscented formulas, Dermplus For Kids in SPF35 and SFP80, Dermplus afterSun hydrating body gel and “invisilite” spray. In photo are (from left) Jennifer Millan, training manager; John Ray Alipar, technical services and quality control manager; Jido Ramirez, marketing manager; Jess Tony Cruz, chief operating officer; Vinson B. Pineda, president; Arnold Pineda, creative director; Cristina del Rosario, national sales manager; RJ Ibanez, human resource manager; and Greg Soriano, supply chain manager.

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Sports BusinessMirror

Wednesday, March 13, 2019

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PLAYERS who have played in the women’s soccer league gather prior to an exhibition match to push for the continuation of the professional women’s soccer league while Manuela Acosta controls the ball during a soccer clinic for professional female players in Bogota, Colombia. AP

COLOMBIANS FIGHT FOR LEVEL PLAYING FIELD B

B M R The Associated Press

OGOTA, Colombia—On a recent weeknight, Sara Pulecio dribbled a soccer ball gracefully through a set of orange cones, and jumped repeatedly over small obstacles placed by coaches along a field, to develop more strength in her legs. The soccer clinic, organized by a global sports-apparel brand, gave Pulecio and several professional female players a rare opportunity to train in the long break between seasons. And even though the drills were intense, the 20-year-old midfielder finished them with a smile on her face. “We try to do things on our own time, to keep in shape,” she said. “But it’s not the same as when you’re training with your team.” Pulecio has represented Colombia in five international tournaments, and last year, she was one of the up and coming stars of the local professional women’s league. But the defensive midfielder has barely trained since the season ended last May, and could be out of a job altogether this year as soccer officials contemplate cancelling the local women’s league due to its poor economic performance.

News that the recently created professional league could be cancelled capped a turbulent month for women’s soccer in this country. The month was also marked by sexual-harassment complaints against two coaches and claims of poor working conditions for players on the national team. Players are now making a last-minute attempt to save the women’s league, while they seek better conditions for the national team, in a struggle that mirrors the ongoing push for equality in women’s soccer in the United States. “It’s very tough to have your dreams and aspirations just brushed aside,” Pulecio said following a news conference in which players urged officials to come up with solutions to save the women’s league. She added that cancelling the league “would shatter the hopes of younger girls who are coming up the ranks.” Complaints over the management of women’s soccer in Colombia started to snowball last month, when two acclaimed national team players published a Twitter video where they outline what they claim are discriminatory practices. Isabella Echeverri and Melissa Ortiz say that for the past two years women’s national team players have been denied stipends paid to their male counterparts when they train with the national team. The players also claimed that they weren’t paid prize money

PLAYERS ARE NOW MAKING A LAST-MINUTE ATTEMPT TO SAVE THE WOMEN’S LEAGUE, WHILE THEY SEEK BETTER CONDITIONS FOR THE NATIONAL TEAM, IN A STRUGGLE THAT MIRRORS THE ONGOING PUSH FOR EQUALITY IN WOMEN’S SOCCER IN THE UNITED STATES.

promised to them for qualifying for the second round of the 2015 World Cup in Canada, and said that on several occasions they were forced to pay for their own plane tickets to make national team training camps, something that is unheard of in the men’s game. Ramon Jesurun, the president of Colombia’s Football Federation, said in an interview with local media on Sunday that it is the first time he heard of these complaints, and has promised to open an investigation. But players said they have letters dating from 2012 and recordings that show they had previously brought their complaints to Colombian soccer officials. Daniela Montoya, a midfielder for the national team, said she was left off the Rio Olympics squad as punishment for speaking to the media about irregularities. Last week, she provided journalists with a recording made in April 2016 where a Colombian soccer official berates her for speaking out about disputes over prize money and describes her as a “spear in his backside” that had to be removed. The complaints have sparked a national debate on the status of women’s soccer in Colombia, where the men’s game is passionately followed, while the women often labor in obscurity playing for salaries of around $400 a month.

AUSSIE WOMEN RUGBY TEAM LEADS WAY

AUSTRALIAN players celebrate after winning the women’s rugby sevens gold medal match against New Zealand at the Summer Olympics in Rio de Janeiro, Brazil. AP

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ED by girls and young women, the ruck-and-maul and rougher-than-rough sport of rugby union is looking to regain its relevance in Australia. The Wallabies lost nine of their 13 test matches last year—the worst performance in 60 years—and none of the Super Rugby franchises was a serious contender for the title. Hit by dwindling attendance and poor performances by its men’s teams, Rugby Australia has found one bright spot: an increase in female participation after the women’s sevens team won the first Olympic gold medal offered in the sport at Rio de Janeiro in 2016. “We need to make sure that our female communities are given the opportunity to be put forward and promoted, and to be talked about positively,” Rugby Australia Chief Executive Raelene Castle said in a recent speech. “Sport has really put Australia on the world map in so many ways. We really do punch above our weight and it continues to be a really important part of Australian society.” Castle herself is a pioneer in female executives leading sports teams or leagues. Before her appointment as CEO of Rugby Australia, she led Netball New Zealand for seven years, then became the first female executive of a National Rugby League club, the Canterbury Bulldogs. She is one of the few female executives in charge of a major sport in Australia.

LEADING THE WAY

WOMEN’S rugby is indeed punching above its weight. Late last year, Castle said she was “energized and excited” by the growth of women’s rugby: Castle said more than 60,000 women and girls played some form of rugby in Australia, from noncontact sevena-side teams to the traditional 15-a-side format. The number of females playing the game has more than doubled over the past three years, most noticeably in schools.

tional Rugby Board committee that worked with the International Olympic Committee to have the sport added in Rio, and it will be there again next year in Tokyo. “It was a very special moment,” McAfee, who now lives in the US with her family, told CNN in an interview in 2016 after Australia won the gold. “I was overwhelmed. We built the foundation seven years ago, and it was like this little piece of the house we have been putting together.”

WOEFUL WALLABIES

THE increase in female participation and the success of its women’s teams have been a perfect antidote to the poor form of the Wallabies this past year. When the Wallabies lost to England at Twickenham in November, it was the Australian men’s team’s ninth test loss in 13 tests, a winning ratio of just 30 percent and its worst success rate since 1958. The loss also marked a sixth defeat in a row to England, which is coached by former Wallabies Coach Eddie Jones. It was the first time in 109 years the Australians have lost that many matches in a row to England. The losses also heaped pressure on Wallabies Coach Michael Cheika ahead of the Rugby World Cup, although he is expected to lead the team at the tournament in Japan beginning in late September. In 2017, more than 56,000 Australian students took part in Rugby Australia’s Get into Rugby program, with 40 percent of those girls. Castle said females make up around 13 percent of the total playing population in Australia, a figure that is projected to rise to 20-25 percent by 2021. Last year, Rugby Australia launched the Super W league—the first national competition for women’s 15-a-side teams. Cobie-Jane Morgan was a member of the victorious New South Wales team in that inaugural competition. She also played in two World Cup teams for Australia and spent four years on the

World Sevens circuit, so she has seen the growth from both sides. “The girls winning in Rio was huge for rugby,” Morgan told The Associated Press. “Ten years ago, touch footballers made up our women’s open side. From that growth a lot of young girls went on to learn spatial awareness, and from there to Sevens.” Morgan also points out that although Australia won the sevens gold at Rio, it was another Australian, Cheryl Soon, now McAfee, who helped lay the groundwork for the sport’s inclusion on the Olympic program. Soon, who played on the Australian sevens team that won the 2009 world title, was a member of an Interna-

CONTROVERSY ON FIELD AND OFF

ONE male player—probably its best—created controversy for the Australian men’s team. Israel Folau’s public antigay stance and opposition to same-sex marriage came in for heavy criticism. Among his comments were: “God’s plan for gay people was ‘HELL.’” It hasn’t been all good news in women’s rugby, either. The captain of national team, Liz Patu, was banned for six weeks after admitting to biting an opponent on the arm during a domestic match earlier this month. AP

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Business

Wednesday, March 13, 2019

NLEX fights for survival

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LEX fights for survival in its bid to clinch a playoff berth when it battles Alaska in the Philippine Basketball Association Philippine Cup on Wednesday at the Smart Araneta Coliseum. With their campaign on the line, the lowly Road Warriors (2-5 won-lost) try to avoid elimination when they face the Aces (3-3) at 7 p.m. Magnolia (2-4), meanwhile, hopes to translate its recent win against Alaska into a good stretch when it tackles Columbian (4-5) at 4:30 p.m. Even the return of National Team Coach Yeng Guiao could not save NLEX from rolling to its second consecutive loss last week. The Road Warriors were beaten by the defending champion San Miguel Beermen, 121-111, a loss that put the team in a precarious spot at 10th and 11th along with the NorthPort Batang Pier. Guiao admitted that it seemed his sacrifices for the national team has given NLEX some downside. “It’s also been a struggle to be out of the country coaching the national team and spending my focus and time for that purpose,” Guiao said. “I think that’s also taking some toll on our team.” Despite the skid, the fiery coach remained dedicated to the flag. “That’s part of the sacrifice anybody has to make for the national team,” he said. “We’ll try to make the most out of the time and focus back on the NLEX job, and try to survive to get to the next round.” Making it more challenging is the absence of key players. Kiefer Ravena is still serving his 18-month suspension by Fiba, while Kevin Alas reinjured his ACL. Larry Fonacier, meanwhile, has a strained calf muscle. Ramon Rafael Bonilla

BENCH POINTS LEADER

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OS ANGELES—Lou Williams said it best after becoming the National Basketball Association’s (NBA) career leader in points off the bench. “Any time you can say of all time next to your name, it’s special,” he said. The 13-year guard scored 34 points to pass Dell Curry as the Los Angeles Clippers routed the Boston Celtics, 140-115, on Monday night for their fifth straight win. Williams came into the game needing 28 points to pass Curry, who had 11,147 bench points. He surpassed Curry with 9:53 remaining in the fourth quarter with a driving layup. According to the Elias Sports Bureau, starters and reserves were tracked in box scores beginning with the 1970-71 season. “Being a sixth man and a career bench player, to have an opportunity to have something like that is special,” Williams said. “I’ve just continued to play aggressive. The shots have really been falling the last couple games.” It is also Williams’s eighth game this season and 29th in his career with 30 or more points off the bench. “It’s amazing just watching him play. Even tonight, just his pace and his speed,” Clippers Coach Doc Rivers said. “The way Lou does it with his size and how often he gets in the paint and finishes over big men is amazing.”

BATANGAS FACES IMUS IN PLAYOFFS

Williams, who was 14 of 20 from the field, wasn’t the only Clipper who was hot from the field. Los Angeles shot 61.6 percent (53 of 86), which was its third-best game by field goal percentage since 2000, according to SportRadar. It also tied for the Clippers’s second-most points scored since 2000, with only a 142-94 win over the Lakers on March 6, 2014, surpassing it. Danilo Gallinari added 25 points and Montrezl Harrell 20 for the Clippers, who led most of the game and were up by as many as 30 in the fourth quarter. “We played terrific. We shot the ball well, moved the ball and played at an amazing pace,” Rivers said. “I thought the defense early on was terrific and that got us out running. We really believed that we had to turn this into a pace game to win and I thought we did that.” Terry Rozier led the Celtics with 26 points while Jaylen Brown added 22 and Kyrie Irving with 18. Boston had a three-game winning streak snapped as it was trying to become the second Eastern Conference team this season to win all four games in California. It is the most points the Celtics have allowed in Brad Stevens’s six seasons as coach and only the fourth time since 1990 they have allowed 140 or more in a regular-season game. “It was a combination of our defense aban-

THE Los Angeles Clippers’s Lou Williams becomes the league’s bench points leader. AP

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NAUGURAL champion Batangas City and Imus pulled off contrasting wins and in the process set up a playoff duel in the Maharlika Pilipinas Basketball League Datu Cup, while Bacoor secured the No. 5 seat without breaking out a sweat. Batangas City relied on old reliables Jeff Viernes, Jhaymo Eguilos and Denice Villamor in

outlasting General Santos City, 92-86, on Monday night at the Batangas City Coliseum. Imus, on the other hand, capped its eliminations campaign with an easy 107-90 triumph over the already ousted Mandaluyong. The Bandera wound up tied for seventh to eighth places with the Cebu Sharks-Casino Ethyl Alcohol, but because the former defeated

the latter in the early phase of the elimination round, Imus will take the No. 7 spot in the southern division. Bacoor took the fifth spot in the southern division after winning via forfeiture over Parañaque. Viernes, the spitfire guard added by the Athletics this season, came away with 21 points and six assists while Eguilos, last season’s Finals

doning us and them playing terrific,” Stevens said. “We couldn’t get stops. We talked about trying to guard different ways when we should have just do better what we do. We’ll move on.” Gallinari scored 13 points in the first quarter to propel the Clippers to a 25-19 lead. Rozier hit a three-pointer at the start of the second to pull the Celtics within three before the Clippers scored nine straight points to lead 34-22 with 9:55 remaining. Later in the quarter, Irving scored five points during an 8-3 run to get Boston within 4642, but the Clippers countered with another 9-0 run to push the lead back into double digits. AP

NBA RESULTS Cleveland 126, Toronto 101 Washington 121, Sacramento 115 Brooklyn 103, Detroit 75 Houston 118, Charlotte 106 Oklahoma City 98, Utah 89 LA Clippers 140, Boston 115 Most Valuable Player, had 18 points on top of six rebounds. Villamor, a stretched four contributor, added 16 points on a steady 3-of-4 shooting from beyond the arc. The Athletics tied the Muntinlupa Cagers with a 15-10 card, but by virtue of the win over the other rule, Batangas City will take the No. 2 seat to play Imus.

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LADY EAGLES EYE 5TH STRAIGHT WIN IN U.A.A.P. VOLLEY

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TENEO tries to extend its early dominance when it clashes with Adamson University in the University Athletics Association of the Philippines Season 81 women’s volleyball tournament on Wednesday at the Filoil Flying V Centre in San Juan City. The Lady Eagles battle the Lady Falcons at 2 p.m., while the University of the Philippines (UP) Lady Maroons take on the National University Bulldogs at 4 p.m. Ateneo was relentless after a season-opening loss to bitter rival and defending champion De La Salle when it bagged its fourth straight win, 2521, 25-15, 28-26, over UP on Sunday. The victory gifted the Katipunan-based squad the solo leadership over De La Salle, University of Santo Tomas and Far Eastern University (FEU), which are tied for second place on 4-2 records. Still, Lady Eagles Head Coach Oliver Almadro reminded his players to stay sharp entering the closing stretch of the first round. “Every game is a learning experience for us. I guess we still have something to show. We will be better than our best,” Almadro said. “That’s what we always remind ourselves.” Cocaptain Maddie Madayag heads the cast for Ateneo, along with Kat Tolentino, Deanna Wong, Ponggay Gaston and Jules Samonte. Adamson University (1-4), on the other hand, tries to get back on track after a heartbreaking 18-25, 25-17, 14-25, 25-22, 8-15 loss to FEU, also on Sunday. In the main game, the Lady Fighting Maroons (3-2) try to join a three-team logjam when they meet the struggling Lady Bulldogs (1-4). Ramon Rafael Bonilla

Wednesday, March 13, 2019

DAHLKE PROPELS

POWER HITTERS

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ENDRA DAHLKE unleashed her power and towed PLDT Home Fibr to a thrilling 25-21, 20-25, 29-27, 13-25, 15-12 victory over Generika-Ayala in the Philippine Superliga Grand Prix on Tuesday at the Filoil Flying V Centre in San Juan. The hard-hitting Dahlke, a former Arizona State star, provided the offensive muscle down the stretch as the Power Hitters opened the second round on a sizzling note. Dahlke delivered 27 kills, two blocks and an ace to finish with a conference-best 30 points on top of 16 digs for the Power Hitters, who returned to winning column after finishing the first round with three wins in seven games. PLDT Head Coach Roger Gorayeb couldn’t help but praise the impressive performance of his ward, especially in the heart-stopping third set where they gamely matched the firepower and defensive intensity of the Lifesavers. After carrying the cudgels in the third set where the Power Hitters clawed back from a 17-23 deficit for a 27-26 edge, Dahlke poured

six points in the deciding fifth set to essay the victory. “Kendra was tremendous, especially in the third set. Her offense was truly a big help for us,” said Gorayeb after plucking their fourth win. “It’s what we need from her. ‘Good thing she played well today. I think this is her best game so far.” PLDT’s other import, Grace Lazard, also sparkled with 18 points with 10 excellent receptions, while Aiko Urdas and Shola Alvarez chipped in 11 and 10 points, respectively. Setter Jasmine Nabor dished out 28 excellent sets while libero Lizlee Pantone protected the floor with 27 digs and 16 excellent receptions. Thai import Kanjana Kuthaisong had 27 points, including 16 excellent receptions, and Fiola Ceballos and Kseniya Kocyigit added 18 and 17 points, respectively, for the Lifesavers, who absorbed their seventh loss in eight matches. Bia General was also impressive with 43 digs and 15 excellent receptions for the losers.

KENDRA DAHLKE delivers 27 kills, two blocks and an ace to finish with a conference-best 30 points.

SUPERAL AHEAD BY 3 SHOTS

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RINCESS SUPERAL flashed impeccable touch on the greens and came away with a stirring bogey-free eight-under 64 to open a threestroke lead over three bets from Thailand in the International Container Terminal Services Inc. (ICTSI) Manila Southwoods Ladies Championship in Carmona, Cavite, on Tuesday. Superal actually bucked a shaky stint on the mound with superb iron shots and awesome putting, drilling in eight birdies inside 6 feet, including six in a brilliant backside stint for a personal best 34-30 card for a big cushion over Chakansim Khamborn, Punpaka Phuntumabamrung and fancied Yupaporn Kawinpakorn, who fired identical 67s in hot but near-ideal conditions. Amateur Sofia Chabon missed catching the Thais at second with a bogey on her finishing hole at No. 9, which she overshot on a wrong club selection, settling for a 68 in a tie with Thanu-

tra Boonraksasat and Chonlada Chayanun, also of Thailand. Daniella Uy birdied two of the last four holes at the front while Thai Tiranan Yoopan strung up three straight birdies from No. 13 as they carded similar 69s to trail Superal by five after 18 holes of the P1.5-million event serving as the sixth leg of the Ladies Philippine Golf Tour (LPGT) 2018-2019 circuit put up by ICTSI. Former ICTSI Champion Tour champion and Philippine Ladies Amateur titlist Lee Jeong Hwa blew a solid 32 start with a double bogey on No. 12 and a bogey on the next but birdied No. 14 to save a 70 for a share of 10th with Taiwanese Yu Ning Huang and multi-titled Chihiro Ikeda, who rallied with three birdies in the last six holes. Former three-time LPGT Order of Merit (OOM) winner Cyna Rodriguez broke a run of pars with a birdie on No. 13 but dropped a stroke on No. 15 before holing out with a birdie to salvage a 71, the same output put in by Taiwanese Hsuan-Ping Chang,

Thai Narisara Kerdrit, Lisa Kang of the US and Pauline del Rosario. Del Rosario, the 2017 OOM winner, put herself in early contention with a 33 but bogeyed Nos. 10, 12 and 14, needing to birdie the par-5 17th to join 16 others who tamed the bunker-laden layout and sleek putting surface with under-par scores. None proved astounding than Superal. “I’m so happy with my putting. Although I struggled with my driving, I read it quite well on the greens,” said the reigning OOM winner, who missed two fairways, hit all but two greens and finished with the day’s best 26 putts coming off a fourth place finish in last week’s The Country Club Ladies Invitational. But lurking behind her are three familiar faces from the country’s perennial regional rivals, including Kawinpakorn, who also turned in a solid 34-33 card in an equally strong start to her bid for a follow-up to

her victory at Pradera Verde last December. The long-hitting Khamborn, on the other hand, spiked her 33-34 effort with an eagle on the par-5 14th and four birdies in a five-hole stretch from No. 5. She also gunned down two birdies at the back to negate a three-bogey mishap. Like Superal and Kawinpakorn, Phuntumabamrung finished without a bogey, her 34-33 card sparking hopes for a crack at a first-ever championship in the circuit organized by Pilipinas Golf Tournaments Inc. Teeing off at the backside, Chabon played on aggressive mode after four holes, attacking No. 14 for birdie, added two more on Nos. 16 and 17, then hit another pair on Nos. 2 and 6 to find herself among the early contenders. But she fumbled at the finish, though she stood too far ahead of the next amateur, Sunshine Baraquiel, who matched par 72 in the tournament organized by Pilipinas Golf Tournaments Inc.

PRINCESS SUPERAL bucks a shaky stint on the mound with superb iron shots and awesome putting.

PSC HEAD RAMIREZ: I’LL CROSS MY FINGER B R R B

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ITHOUT President Duterte’s signature on the General Appropriations Act for 2019, preparations for the 30th Southeast Asian Games the country is hosting could hardly move forward—or not at all. And all the sports community could do is wait, at least in May, when President Durterte signs the act. “I’ll just cross my finger. It’s beyond our control as to the directions of Congress and the President. We will just wait,” Philippine Sports Commission Chairman William Ramirez said on Tuesday. The national budget for 2019 is pegged at P3.7 trillion and a drop, P5 billion, has been allocated for the SEA Games hosting. The proposed budget

for the November 30 to December 11 Games was P7.5 billion, but the Senate slashed it by a third. “As I know my President, if he says he will sign it in May—after the midterm elections—he will—it’s a statement of contradiction for the Congress to make it fast,” Ramirez said. “If it will not come, so be it,” he sighed. The Korean Embassy, meanwhile, has partnered with the Philippine Sports Commission (PSC) for the staging of the first Korea-Philippines Sports Festival. The partnership was sealed between Ramirez and Korean Ambassador to the Philippines Han Dong-Man, United Korean Community Association in the Philippines President Byun Jae Heung and Korean Sports Association of the Philippines head Youn Man Heong. “We at the PSC are grate-

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

HOW CEBU CC MADE PAL INTERCLUB HISTORY

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F Cebu Country Club (CC) is still in a state of sweet shock, quiet. The Cebuanos deserve all our love for what they have just achieved: Winning the 72nd Philippine Airlines (PAL) overall title right on their home course in Cebu. Not an easy feat, I tell you.

Cebu CC was not in the mix, to begin with. From the outset, defending champion Southwoods, with its powerpacked squad that won the Fil-Am Invitational in Baguio only last December intact, was the hands-down favorite to win and nail a record fifth straight triumph.

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NOVIS ANNEXES TWO CROWNS IN TAGUM TILT

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A. ANGELICA NOVIS bucked a scare from the Carvajal siblings and annexed another two-title sweep while Ryan Alga pulled off a shock win in the boys’ singles of the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Tagum City national agegroup tennis tournament in Davao del Norte on Tuesday. Novis, 16, thwarted Juliana Carvajal’s tough stand in the first set and went on to post a 6-4, 6-0 win in the semis then, whipped Hanna Amazona, 6-0, 6-2, to rule her age bracket in the Group 2 tournament presented by Dunlop. The rising Malita star also faced stiff resistance from Coleen Carvajal but recovered in time to eke out a 6-3, 4-6, 10-4 decision, also in the semis of the premier division before repeating over Amazona, 6-1, 6-1, at the Tagum City Tennis Club to duplicate her two-title romp in Digos last week. The fourth-ranked Alga, meanwhile, stunned top seed Reyman Saldivar Jr., 6-0, 6-1, in the semis, then held off No. 3 Khobe Dumlao, 7-6(8), 6-4, to snare the 16-under diadem and spark a rash of reversals in the five-day event hosted by Mayor Allan Rellon and sponsored by PPS-PEPP. Unseeded Kenneth Eufemiano, however, stopped Alga in the 18-U finals, scoring a convincing 6-2, 6-2 victory to share the spotlight with Tagum’s Chelsea Bernaldez, who also came away with two victories in the girls’ 12- and 14-under sides of the event sanctioned by the by Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-Meg. “Reversals have marked all legs of the PPSPEPP circuit which has been emphasizing the need to discover fresh talents, especially in the countryside, thus paving the way for the level playing field,” Palawan Pawnshop President and CEO Bobby Castro said. No. 2 Bernaldez turned back top seed Ann Gumapac, 6-3, 6-2, for the 12-under crown, then thwarted Ayeza Dino, 6-3, 6-4, in the 14-under finals. Other winners were Kidapawan’s Iñigo Barrios, who shocked top seed Yusuf Maldo, 5-3, 4-2, in 10-unisex; Tupi, Cotabato’s Andre Mateo, who fended off Charles Jumawan, 7-5, 6-4, in boys’ 12-U, and Kabacan’s Saldivar, who beat Kristopher Espinosa, 6-3, 6-2, in 14-under. Novis also took the 18-under doubles crown in a team-up with Zykala Cervantes, beating the Carvajal sisters, 8-5, with Alga teaming up with Dumlao to beat Khobe Camingue and Eufemiano, 8-3, on their side of the final. Other winners were Dino and Jaineve Gumapac, and Espinosa and Jumawan (14-under); and Johnel Maldo and Cian Ramirez (10-under unisex). A huge field, meanwhile, will slug it out in the Davao leg beginning on Thursday, which will coincide with the Araw ng Davao celebrations. For details and registration, call PPS-PEPP Sports Program Development director Bobby Mangunay at 0915-4046464.

SUMA DOMINATES SCRABBLE TOURNY

ful to partner with the Korean Embassy in this celebration, mainly because of the rich history both the Philippines and Korea have shared for a long time,” Ramirez said. “The Korean Institute of Sports Science has been persistent in helping national team coaches and practitioners in lectures of sports science, sports psychology and sports policy,” he added. With the theme “March Together,” the embassy will launch the Korea-Philippines Sports Festival on June 8, featuring 12 sports with soccer and baseball set to be played at PhilSports Complex in Pasig. “Sports is a vital component to connect people together, that is why we are inviting Filipino locals, especially the families of Korean War veterans to join the games with us,” Han said.

PHILIPPINE Sports Commission Chairman William Ramirez (center) swap souvenirs with (from left) Korean Embassy Representative Consul Park Joong-Suk, Korean Ambassador to the Philippines Han Dong-Man, United Korean Community Association in the Philippines President Byun Jae Heung and Korean Sports Association of the Philippines head Youn Man Heong.

Luisita, the seniors champion just days before the Men’s Regular had teed off, had been ballyhooed to give Southwoods a tough challenge, with Del Monte as dark horse. Tagaytay Highlands, the fourth team in the premier Championship division, was but a decoration. And since Cebu CC was in the second-division Founders, it had virtually only two chances of winning: nil and none. Thus, when the Cebuanos came from nowhere to capture the crown in record fashion yet—only Aguinaldo in 1988 did a non-championship team win the overall title—an explosive celebration gripped the Queen City of the South a la the El Niño feast. I raise a glass to the champions—skipper Marko Sarmiento, Bayani Garcia, Pio Neri, Mark Dy, Harvey Sytiongsa, Mark Gonzalez, Nino Mendoza, JJ Alvarez, Eric Deen, Hugo Saurat and team manager Peter Po. It was a team effort, of course, even as unabashed praise was heaped on Garcia and Neri (even-par 36 points each in the crucial Round 4), Dy (35), Sarmiento (33) and Sytiongsa (an

equally stunning no-count 32) for their finalday heroism leading to their impressive ninepoint, final winning margin over Southwoods. The following is how a Cebu CC fixture analyzed the hosts’ historic win: ■ Day 1—Happy to be the Founders leader and also just being one down behind Southwoods in the championship division. ■ Day 2—Happy to have played well in Mactan to increase Cebu’s Founders lead but feeling stung when Southwoods seemed to dismiss the Cebuanos’ sudden rise to the top as a fluke. ■ Day 3—Cebu CC started believing it can actually win the overall crown after playing beyond expectations in Mactan again by keeping its four-point lead so that, heading back to our home course, the immediate battle cry was “Not in our house” in a bid to stop Southwoods’ record five-peat in the PAL Interclub. ■ Day 4—Euphoria and relief and immense joy that all our Round 4 players delivered on the last day. Happy to have made

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history and looking forward to the next PAL Interclub in 2020. Proudest and happiest was Jay Jay Neri, Pio’s father. “His [Pio’s] Ateneo de Manila stint as a varsity golf player had paid off,” said Jay Jay. “His final-day 36 points was his first even-par round in six months.” You savor Pio’s joy, Jay Jay—anytime, all the time.

THAT’S IT After the successful staging

of the 72nd PAL Interclub Golf in Cebu last Saturday, the Philippine Airlines, through PAL President Jaime J. Bautista, announced the extension of its anniversary seat sale by a week and another million seats up for grabs up to March 17. The move was on top of the previous 2 million seats that were quickly gobbled up by PAL’s loyal flock. “The record offer signals the determination of the fourstar rated flag carrier to woo more first-time travelers, as well as seasoned flyers, to ‘fly the flag’ and enjoy PAL’s full-service travel experience,” said Bautista. Cheers!

ORLD youth scrabble veteran Mohammad Suma strung three victories, including two against Ferdinand Lucas—to rule the 17th Panagbenga Scrabble Tournament on Sunday at the Porta Vaga Mall. The victory earned for the 23-year-old Suma the first two legs of the World Scrabble Tournament qualifiers. Suma turned a tightly contested last round against Lucas into a rout of sorts when he dropped MOXAS for 63 points to cruise to the 422-383 victory. He finished with an 11.5-4.5 win-loss card and 1,110 spread points—the total of game differences in the 16-round, two-day competition. He earned P10,000 and a trophy. Suma returned to the top board in the 14th round after falling to board two in the 12th round when he lost to Melvin Dalangin, 358-528. But he returned to the top board two games later with convincing wins over his father Abdul, and Baguio City bet Malou Flores (449-339). He topped the 15th round against Lucas, 447-366, to draw even with 10.5 wins and the top position due to his higher spread of 1,071 against the latter’s 730. Lucas fell to third place with 10.5 wins against 5.5 defeats and 697 spread, behind Dalangin who won over retired police colonel and lawyer Antonio Malonzo, 471-393, for an 11-5 card. Dalangin clinched P6,000 and a trophy, while Lucas took home P4,000 and also a trophy. Malonzo wound up fifth, behind local Lewrenda Ambler. Both finished with a 10-6 card, but the former beauty queen, now an insurance company manager, had a higher spread of 387 against Malonzo’s 190.

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Wednesday, March 13, 2019

RIO Olympics athletics silver medalist Shota Iizuka (back row, center), karate athlete Kiyo Shimizu, (back row, fourth from left) and elementaryschool students pose with pictograms of Tokyo 2020 Olympic sports events. AP

Sports BusinessMirror

www.businessmirror.com.ph

500 DAYS TO GO!

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B S W The Associated Press

OKYO—Tick tock, tick tock. The Tokyo Olympic clock has hit 500 days to go. Organizers marked the milestone on Tuesday, unveiling the stylized pictogram figures for next year’s Tokyo Olympics. The pictogram system was first used extensively in 1964 when the Japanese capital last hosted the Summer Olympics—just 19 years after the end of World War II. A picture system to illustrate sports events was used in the 1936 Berlin Olympics, and 12 years later in London. Other Olympics sporadically used some drawings for the same purpose. But the ‘64 Olympics originated the standardized symbols that have become familiar in every Olympics since then. Japanese athletes posed with the pictograms and their designer, Masaaki Hiromura. Organizers also toured regions that will host Olympic events, including the area north of Tokyo that was devastated by a 2011 earthquake, tsunami and resulting damage to nearby nuclear reactors. “They are simple but yet dynamic,” Hiromura said, explaining his designs to several hundred people. “These are pictograms that look like they are about to start moving.” Hiromura designed 50 pictograms for 33 sports. Some sports will use more than one pictogram when the Olympic open on July 24, 2020. The ‘64 Tokyo Olympics came up with the pictograms, partly because the games were the first in Asia and held in a country where the language was inaccessible to many international visitors. Unlike other recent Olympics, construction projects are largely on schedule. The new National Stadium, the centerpiece of the games, is to be completed by the end of the year at a cost estimated at $1.25 billion. That’s not to say these Olympics are problem free. Costs continue to rise, although local organizers and the International Olympic Committee (IOC) say they are cutting costs—or

ORGANIZERS MARKED THE MILESTONE ON TUESDAY, UNVEILING THE STYLIZED PICTOGRAM FIGURES FOR NEXT YEAR’S TOKYO OLYMPICS. THE PICTOGRAM SYSTEM WAS FIRST USED EXTENSIVELY IN 1964 WHEN THE JAPANESE CAPITAL LAST HOSTED THE SUMMER OLYMPICS— JUST 19 YEARS AFTER THE END OF WORLD WAR II.

NAOMI OSAKA’S mindset is just to keep trying to get her feet moving and stay pumped up and positive. AP

at least slowing the rise. As an example, last month organizers said the cost of the opening and closing ceremonies had risen by 40 percent compared with the forecast in 2013 when Tokyo was awarded the games. Overall, Tokyo is spending at least $20 billion to host the Olympics. About 75 percent of this is public money, although costs are difficult to track with arguments over what are—and what are not—Olympic expenses. That figure is about three times larger than the bid forecast in 2013. Tsunekazu Takeda, the president of the Japanese Olympic Committee (JOC) and a powerful IOC member, is also being investigated in a vote-buying scandal that may have helped Tokyo land the Olympics. Takeda has denied wrongdoing and has not resigned from any of his positions with the IOC or in Japan. He is up for reelection to the JOC this summer and could face pressure to step aside.

FIFA STUDY BACKS 48-TEAM CUP

A FIFA feasibility study concluded the 2022 World Cup can expand to 48 teams by using at least one of Qatar’s neighbors as an additional host, and found there is a low legal risk to changing the format and an additional $400 million in revenue could be generated. The Associated Press obtained a copy of the 81-page report on Monday that assesses the political, logistical and legal issues surrounding adding 16 teams—a significant change to the format more than eight years after Qatar won the hosting rights. The report was prepared by the governing body

so its Fifa Council can agree in principle on expanding the tournament at a meeting in Miami on Friday. A final decision would come in June. The study identified stadiums in Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates that could be used but said Qatar would have to approve which nations it would partner with. Bahrain, Saudi Arabia and the UAE severed economic, diplomatic and travel ties with Qatar in 2017, which prevents flights between the countries. The study says Fifa accepts that the ongoing political spat prevents their involvement in the tournament. The AP reported last week that Fifa was looking at Kuwait and Oman as options for games in 2022, given their neutrality in the Gulf diplomatic crisis. “As it currently stands, the nature of Bahrain, Saudi Arabia and the UAE’s relations with Qatar is such that it would be challenging to organize a cohosted tournament between Qatar and one or more of these countries,” the feasibility study states. “Candidate cohosts would need to be regarded as sufficiently cooperative,” the study adds. “Such cohosts would not sanction or boycott economically or otherwise any other potential cohost country, including the main host, Qatar.” With logistics already challenged by the existing plan to play 64 games in eight stadiums spread over a 30-mile radius in Qatar, Fifa said two to four additional venues are required in the region “with one or more” nation. Fifa stipulates that any additional hosts would have to supply government assurances, including on its human-rights requirements. “The involvement of additional neighboring host countries would require certain

Osaka disposes of Collins with ease at Indian Wells

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NDIAN WELLS, California—Naomi Osaka rolled past Danielle Collins, 6-4, 6-2, in the third round of the BNP Paribas Open on Monday night, keeping the world’s No. 1 player on track to defend her title. Novak Djokovic, the top-ranked men’s player, held serve to win his opening game against Philipp Kohlschreiber in their night match. The German owned the advantage on his serve in the second game before rain began falling. The match was later suspended for the night. Collins struggled with her serve throughout the match, committing seven double faults and connecting on just 47 percent of her first serves. Osaka’s first-serve percentage was 66 and she won 70 percent of her first-serve points. “In the first set I was just really flat-footed. I didn’t feel like I was moving well at all,” Osaka said. “Then I just tried to really hype myself up. My mindset was just to keep trying to get my feet moving and stay pumped up and positive.” Osaka won her first career title at Indian Wells a year ago, propelling her to a career-best year in which she defeated Serena Williams for the US Open title. She began this year winning the Australian Open and moving to the top of the rankings. After that triumph, she fired her coach and lost in the first round in Dubai before taking on a new coach, Jermaine Jenkins. “It is different from last year, but I think I am getting used to it,” Osaka said. “I have been practicing on Court 3 for the past few days, and I’m really grateful there is a lot of people that come out and watch. I try to sign all of the signatures.” Venus Williams is turning back her own clock, moving into the fourth round with a 6-2, 7-5 victory over qualifier Christina McHale. Williams is seeking her 50th career Women’s Tennis Associa-

tion Tour title in the desert, where she has never won the event. And at 38, she’s showing vintage form. “I don’t really play that often, so when I do, I need to play well,” she said. “It’s extra motivation for me to play just a little bit better out there.” Serena Williams, a two-time champion at Indian Wells, retired from her match on Sunday because of a viral illness. Ranked 36th in the world, Venus Williams endured three sets in her first two matches. She rallied past Andrea Petkovic in the opening round and followed up by outlasting No. 3 seed Petra Kvitova in a third-set tiebreaker. Kvitova had made the finals in two of her first three tournaments this year. Williams, who made the semifinals in the desert last year, was playing McHale for the first time. Williams rallied from early breaks down in both sets to win. “I never played her, so it’s also you’re out there learning,” Williams said. Fifth-seeded Karolina Pliskova eased past qualifier Ysaline Bonaventure, 6-3, 6-2. No. 8 Angelique Kerber outlasted qualifier Natalia Vikhlyantseva, 3-6, 6-1, 6-3, and No. 9 Aryna Sabalenka defeated 24th-seeded Lesia Tsurenko, 6-2, 7-5. Two seeded women lost: No. 11 Anastasija Sevastova, who retired trailing 5-0 in the first set against No. 21 Anett Kontaveit, and No. 15 Julia Goerges, who lost to Mona Barthel, 7-5, 1-6, 6-4. On the men’s side, No. 3 Alexander Zverev lost to German countryman Jan-Lennard Struff 6-3, 6-1. Playing just his third tournament of the year, Zverev said he’s been sick for a week. “That hasn’t changed, unfortunately,” he said. Dominic Thiem, seeded seventh, defeated No. 27 Gilles Simon, 6-3, 6-1. No. 13 Milos Raonic got a challenge from American qualifier Marcos Giron before winning, 4-6, 6-4, 6-4. Miomir Kecmanovic, a lucky loser from Serbia, got past No. 30 Laslo Djere 6-2, 7-6 (3). AP

conditions to be met, in particular the consent of the relevant authorities in the main host country, Qatar,” the Fifa report states. “Therefore, Fifa cannot conclusively stipulate which host countries would be part of a cohosting arrangement with Fifa and Qatar at this moment.” The study highlights that venues with at least 40,000 seats— for games up to the quarterfinals—were demanded of 2026 World Cup bidders but doesn’t come to a conclusion on minimum capacities for 2022. While eight potential additional stadiums are identified in the region in the Fifa study, only two in the UAE, one in Saudi Arabia and one in Kuwait meet the 2026 requirements.

CONOR MCGREGOR is charged with robbery and criminal mischief.

MCGREGOR ARRESTED

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IAMI—Mixed martial artist and boxer Conor McGregor has been arrested in South Florida for stealing the cell phone of someone who was trying to take his photo, authorities said. According to a Miami Beach police report, the 30-year-old McGregor was arrested on Monday afternoon and charged with robbery and criminal mischief. An attorney for McGregor called the altercation “minor” and said the popular fighter would cooperate with authorities. McGregor was leaving the Fontainebleau Miami Beach shortly after 5 a.m. on Monday when a 22-year-old man attempted to take a picture of McGregor, the police report said. Police said McGregor slapped the phone out of the man’s hand and then stomped on it several times. McGregor then grabbed the phone and left the area, the report said. Police later found McGregor at his local address. McGregor was released on Monday night after posting $12,500 bond. “Last evening Conor McGregor was involved in a minor altercation involving a cell phone that resulted in a call to law enforcement,” Samuel J. Rabin Jr., a Miami-based attorney representing McGregor, said in a statement. “Mr. McGregor appreciates the response of law enforcement and pledges his full cooperation.” McGregor, who’s from Ireland, is the former UFC featherweight and lightweight champion and one of the biggest draws in MMA. He returned to UFC last fall after a hiatus during which he made his boxing debut, a loss to Floyd Mayweather. He was suspended from UFC for six months and fined $50,000 for a brawl after his loss to Khabib Nurmagomedov in October. AP

The four cardinal virtues

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EAR God, inspire us to live by heart the four cardinal virtues: Prudence, Justice, Fortitude and Temperance. Prudence disposes reason to discern in every circumstance our true good to choose right. Justice consists in the firm and constant will to give to others their due. Fortitude assures firmness in difficulties and constancy in the pursuit of the good. Temperance moderates the attraction of pleasures, assures the mastery of the will over instincts and provides balance in the use of created goods. Oh God, help us to practice these virtues. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

LATEST LEARNING SOLUTIONS AT EDUTECH PHILIPPINES 2019

EDUTECH Philippines is a gathering of the tech sector’s leading solutions providers whose works are geared toward advancing the field of education through innovative applications of technology. The event was recently held at SMX Convention Center, Mall of Asia, and REX Book Store again proved to be ahead of the curve when it comes to progressive and holistic learning solutions designed for 21stcentury learning. With over 5,500 attendees, the conference’s theme of “21st Century Quality Education for All in the Philippines” was a resounding success for participants and exhibitors alike. Keynote speakers Fr. Benigno Beltran, SVD of Sandiwaan Center for Learning, initiated the conference’s lineup with his presentation, titled “Design Thinking in Education.” Mike Gilmour of GEMS World Academy, Singapore, inspired the audience with his experience and thoughts on “LeadershipInfluencing Organizational Excellence through 21st Century Skills.” William Sanchez, representing Saxion University of Applied Sciences from the Netherlands, gave insights with his keynote on “Get Ready for a Smart World: The Connected Teacher & 21st Century Learning.” The tech innovations showcased at the conference were oriented toward helping shape the future of learning, and REX’s exhibition featured its latest learning solutions designed for the Whole Child. The REX booth featured Quidbots, electronic building blocks that are modular, magnetic, color-coded and reusable. Also featured were Schoology, a learning management system that serves as a platform for connecting students, parents, and educators all in a single, cohesive and easy-touse digital learning environment; and TestPro, a digital exam builder tool that helps educators create their own customized exams for Basic Education students. The idea behind REX’s booth was how technology has helped transform the field of education into something more oriented toward how young learners must be able to creatively solve and adapt to problems and innovate with their own solutions. With the help of products that foster critical thinking and problem-solving skills, REX hopes that students will be able to form and come up with their own inventions, prototypes that will solve everyday problems, letting them think outside the box and become ready for the challenges that lay ahead in the future.

BRITAIN’S Queen Elizabeth II reacts during a visit to the Science Museum in London on March 7. AP

QUEEN ELIZABETH MAKES FIRST INSTAGRAM POST

LONDON—Queen Elizabeth II has posted her first Instagram image. The media-savvy queen posted from the Science Museum on Thursday to help promote the museum’s summer exhibition. Using an iPad, she shared an image on the official royal family Instagram account of a letter from 19thcentury inventor and mathematician Charles Babbage to Queen Victoria and Prince Albert. The queen’s post said: “In the letter, Babbage told Queen Victoria and Prince Albert about his invention, the Analytical Engine, upon which the first computer programs were created by Ada Lovelace, a daughter of Lord Byron.” The royal Instagram account was launched in 2013 and has 4.6 million followers. AP

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SUI GENERIS: PROJECT GREENHORN D4

Wednesday, March 13, 2019

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FACEBOOK CEO Mark Zuckerberg arrives to testify before a House Energy and Commerce hearing on Capitol Hill in Washington in April. AP

How Facebook stands to profit from its ‘privacy’ push By FrAnK BAJAK | The Associated Press

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T first glance, Mark Zuckerberg’s new ”privacy focused vision” for Facebook looks like a transformative mission statement from a CEO under pressure to reverse years of battering over its surveillance practices and privacy failures. But critics say the announcement obscures Facebook’s deeper motivations: To expand lucrative new commercial services, continue monopolizing the attention of users, develop new data sources to track people and frustrate regulators who might be eyeing a breakup of the social-media behemoth. Facebook “wants to be the operating system of our lives,” said Siva Vaidhyanathan, director of media studies at the University of Virginia. Zuckerberg’s plan, outlined on Wednesday, expands Facebook’s commitment to private messaging, in sharp contrast with his traditional focus on public sharing. Facebook would combine its instant-messaging services WhatsApp and Instagram Direct with its core Messenger app so that users of one could message people on the others, and would expand the use of encrypted messaging to keep outsiders—including Facebook—from reading the messages. The plan also calls for using those messaging services to expand Facebook’s role in e-commerce and payments. A Facebook spokesman later said it was too early to answer detailed questions about the company’s messaging plans. Vaidhyanathan said Zuckerberg wants people to abandon competing, person-to-person forms of communication such as e-mail, texting and Apple’s iMessage in order to “do everything through a Facebook product.” The end goal could be to transform Facebook into

a service like the Chinese app WeChat, which has 1.1 billion users and includes the world’s most popular person-to-person online payment system. In some respects, Facebook was already headed in this direction. It has dabbled with shopping features in its Messenger app for a few years, although without much effect. And WhatsApp, which Facebook acquired for $22 billion in 2014, embraced a strong privacy technology known as “end-to-end encryption” nearly three years ago. Messages protected this way are shielded from snooping, even by the services who deliver them. But Zuckerberg said nothing in the Wednesday blog post about reforming privacy practices in its core business, which remains hungry for data. A recent Wall Street Journal report found that Facebook was still collecting personal information from apps such as user heart rates and when women ovulate . Facebook, which perfected what critics call “surveillance capitalism,” knows it has serious credibility issues. Those go beyond repeated privacy lapses to include serious abuses by Russian agents, hate groups and disinformation mongers, which Zuckerberg acknowledged only belatedly. “Until Facebook actually fixes its core privacy issues—and especially given their history—it’s difficult to take the pivot to privacy seriously,” said Justin Brookman, who was a research director at the Federal Trade Commission before joining Consumers Union as privacy and technology chief in 2017. Combining the three messaging services could allow Facebook—which today has 15 million fewer US users than in 2017, according to Edison Research— build more complete data profiles on all its users. The merged messaging services should generate new profits from the metadata they collect, including information on who you message,

when you do it, from where and for how long, said Frederike Kaltheuner of the advocacy group Privacy International. That is the information that users leave behind when they message each other or conduct retail, travel or financial business, she added. And Facebook doesn’t just use people’s information and activity on its platform, dissecting it to target people with tailored ads. It also tracks people who don’t even use the platform via small pieces of software embedded in third-party apps. Privacy International published research in December showing that popular Android apps including KAYAK and Yelp were automatically sending user data directly to Facebook the moment they were opened. KAYAK, which was sending flight search results, halted the practice and said the transmission was inadvertent. Yelp continues to send unique identifiers known as “advertising IDs” that link to specific smartphones. Facebook also has trackers that harvest data on people’s online behavior on about 30 percent of the world’s web sites , said Jeremy Tillman of Ghostery, a popular ad-blocker and anti-tracking software. “When they say they are building a privatemessaging platform, there is nothing in there that suggests they are going to stop their data collection and ad-targeting business model,” he said. In a Wednesday interview with The Associated Press, Zuckerberg offered no specifics on new revenue sources. But “the overall opportunity here is a lot larger than what we have built in terms of Facebook and Instagram,” he said. Privacy advocates, however, do admire one key element of Zuckerberg’s announcement. “In the last year, I’ve spoken with dissidents who’ve told me encryption is the reason they are free, or even alive,” Zuckerberg wrote. n

Kaspersky Lab helps to secure bionic technologies for people with disabilities THE Internet of Things is no longer just about connected smart watches or smart homes, but about advanced, complex, increasingly automated ecosystems. These include connected health-care cyber technologies. In the future, such technologies could shift away from being purely support devices to becoming mainstream and used by consumers keen to extend the capabilities of the ordinary human body through a process of cyber netization. It is therefore important that any security risks that could potentially be exploited by attackers are minimized by investigating and addressing security issues in current products and their supporting infrastructure. Kaspersky Lab ICS CERT researchers, in partnership with Motorica, have undertaken a cybersecurity assessment of a test software solution for a digital prosthetic hand developed by the Russian

start-up. The solution itself is a remote cloud system, an interface for monitoring the status of all registered biomechanical devices. It also gives other developers an existing toolset for analysis of the technical condition of devices like smart wheelchairs, and artificial hands and feet. The initial research identified several security issues. These include insecure http connection, incorrect account operations and insufficient input validation. When in use, the prosthetic hand transmits data to the cloud system. Due to the security gaps, an attacker could: n Gain access to information held in the cloud about all the connected accounts (including logins and passwords in plaintext for all the prosthetic devices and their administrators) n Manipulate, add or delete such information n Add or delete their own regular and privileged users (with administrator rights)

“Motorica is a high-technology, trusted and socially responsible company, focused on addressing the challenges faced by people with physical impairment. As the company prepares for growth, we wanted to help it ensure the right security measures were in place. The results of our analysis are a good reminder that security needs to be built into new technologies from the very start. We hope that other developers of advanced connected devices will want to collaborate with the security industry to understand and address device and system security issues, and treat the security of devices as an integral and essential part of development,” said Vladimir Dashchenko, security researcher at Kaspersky Lab ICS CERT. To keep the devices safe, Kaspersky Lab advises that companies: n Check out threat models and vulnerability classifications for the relevant web-based and IoT

technologies, provided by industry experts, such as OWASP IoT Project. n Introduce secure software development practices based on the proper lifecycle. To evaluate existing software security practices use a systematic approach—for example, OWASP OpenSAMM. n Establish a procedure for obtaining information on relevant threats and vulnerabilities to ensure proper and timely response to any incidents. n Regularly update operating systems, application and device software and security solutions. n Implement cyber-security solutions designed to analyze network traffic, detect and prevent network attacks—at the boundary of the enterprise network, and at the boundary of the OT network. n Use a protection solution with machine learning anomaly detection technology to reveal deviations in IoT devices’ behavior—for early detection of attack, failure or damage of the device.

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Pet Corner BusinessMirror

Wednesday, March 13, 2019

Pets get high-tech help in the event they get lost WHISPER, a dog owned by Laura Atwood, shows off his new QRcoded license tag at the Anchorage Animal Care and Control Center in Anchorage. AP

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By Devin Kelly The Associated Press

NCHORAGE, Alaska—Anchorage pet licenses can now come with digital codes aimed at more rapidly reuniting lost pets with owners and freeing up shelter space, officials say. The Anchorage Animal Care and Control Center started offering digital pet licenses this year. A Washington state-based company called Pethub produces the tags, which come with a digital quick response code, or QR code. Scanning the tag with a smartphone pulls up a Web page with a profile for the pet, which can include multiple contact numbers, health information and eating preferences. Shelter Communications Director Laura Atwood’s husky, Whisper, has a digital tag and a page. The page lists five phone numbers, along with Whisper’s birthday, his microchip ID and a physical description that includes a notch missing from his tongue. “He is not food motivated so coaxing him with food may not work unless it’s real chicken or turkey,” the page says. “Or pizza.” If Whisper got lost, his finder could send a GPS location through the page, Atwood said. Atwood would also get a text telling her that the code was scanned. The tag comes with a red sticker with activation instructions. In one recent case, someone found a lost dog with a digital license that hadn’t yet been activated. The dog ended up staying briefly at the shelter until its family picked it up, according to a post about the incident on the Animal Care and Control Facebook page. Activating the tag falls to pet owners, not the animal shelter, so the owner can decide what information to provide to the call center, Atwood said. The tags are the latest example of Anchorage city government tapping into QR code technology. At the Anchorage cemetery, families have the option of paying $150 for a QR code to accompany the gravesite of a loved one. The codes are mounted on the columbarium wall. A smartphone scan launches a

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Adam Clayton, 59; Dana Delany, 63; William H. Macy, 69; Neil Sedaka, 80. HAPPY BIRTHDAY: Emotions will play a role in the way things go this year. Take a step back and assess each situation that surfaces. Impulse and excess will be what holds you back. Forge ahead with determination, preparation and knowing what you want and how best to turn your idea into something tangible. Focus on progress, not emotional chaos. Your lucky numbers are 9, 16, 22, 24, 31, 38, 46.

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ARIES (March 21-April 19): Concentrate on being the best you can be. A compliment will be offered if you make a subtle change to the way you look. A generous offer should be carefully considered. Don’t reveal personal information or secrets. Romance is highlighted. HHH

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TAURUS (April 20-May 20): Start doing your own thing. Be unique and show that you are a self-starter and ready for whatever challenge comes your way. It will be your actions and responses that will help you advance, not copying someone else. HHH

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GEMINI (May 21-June 20): Consider what it is you want and how best to go about getting it. Don’t rely on anyone offering unrealistic promises that are likely to lead to disappointment or regret. HHH

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CANCER (June 21-July 22): Keep your emotions locked up somewhere safe and out of the public eye. You’ll accomplish far more if you are rational and approach your daily responsibilities with discipline and the intent to finish what you start. Look over contracts and agreements. HHH

memorial web site. About a dozen families have purchased the codes since the program began a few years ago, said Cemetery Director Rob Jones. The cemetery has also purchased a code to be placed near the whale bones that mark the graves of a whaling captain and his wife, Jones said. He said it would be a way to tell the story of the whale bones, which mark the center of the city cemetery. In the case of the city animal shelter’s foray into digitizing, Atwood said she learned about the digital pet licenses at a conference in 2018. “It’s just truly a way to help reunite lost dogs more quickly with their owners, and without the animal having to come through the shelter,” Atwood said.

Anchorage resident Cynthia White manages two different Facebook pages for lost pets. She spends a lot of time connecting pet owners to resources, making posters and loaning out animal traps. The digital licenses are a good way to use new technology and make it easier for people to track down lost pets, White said. But White also urged pet owners and animal shelter staff to update microchip data, which she said is often out-of-date. “So many dogs get lost who do not have a collar on,” White said. Atwood also said the new licenses do not take the place of microchips. She said the tags are meant to be an additional tool to help pet owners. n

Michigan laws to increase penalties for animal abuse DETROIT—Michigan will have stiffer penalties for animal abuse through legislation signed by former Gov. Rick Snyder. The two state laws taking effect this month increase the maximum penalty for killing or torturing an animal from four years to 10 years in prison, The Detroit News reported. Judges will also be able to sentence those who harm or kill animals in order to cause emotional distress to another person to as much as 10 years. Republican state Rep. Tommy Brann of Wyoming said he was inspired to sponsor the bills by a conversation he heard 25 years ago between two young women at a restaurant. “They said the way to get even with someone is to kill their dog,” Brann said, adding that the conversation has stuck with him throughout the years. He said he hopes the bills urge

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judges to take animal abuse seriously, noting that pets can be like a loved one to people. Wayne County Prosecutor Kym Worthy supports the new legislation. “The current laws are not sufficient enough to protect animals and hold offenders responsible for their conduct,” she said. “This is certainly a

positive step forward.” Animal abusers in Michigan typically avoid long prison sentences, according to an analysis by the state’s Senate Fiscal Agency. There were 40 violations in 2016, with no offenders sent to prison and five sent to jail, the agency found. In one case, Lawanda Alford cut

six of her boyfriend’s geckos in half and stabbed his pit bull to death. She pleaded guilty to animal abuse and was sentenced in January to 60 days in jail and three years of probation. In another case, Timothy Crow, 24, was convicted of animal abuse in December for beating his mother’s dog to death. Judge Leo Bowman of Oakland County Circuit Court sentenced Crow to six months in jail. Oakland County Assistant Prosecutor John Pietrofesa said the law restricted sentencing. He said he believed Crow’s history of mistreating animals indicates that he’ll “remain a danger to society.” “As gruesome as that killing was, an equally disturbing fact was that the defendant video recorded it on his phone,” Pietrofesa said. “The dog can be seen looking into the cameras as it is dying. It is one of the most disturbing images I have ever seen...it is burned into my memory.” AP

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LEO (July 23-Aug. 22): Easy does it. Slow down and consider the best route to take before you react. Inconsistent or unpredictable behavior will not help you keep the peace or get what you want. HHHH

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VIRGO (Aug. 23-Sept. 22): Trust in what you know, not what someone tells you or tries to persuade you to do. A change should be carefully considered, especially if it will affect your health or disrupt a relationship with someone close to you. HH

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LIBRA (Sept. 23-Oct. 22): Be realistic about what you can do. Trust facts and use common sense when it comes to your health and wellbeing. Put your efforts into peace and harmony, not friction and chaos. HHHHH

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SCORPIO (Oct. 23-Nov. 21): Take a break and give yourself a chance to rejuvenate. Do your best to avoid getting into a scuffle with someone close to you. Listen attentively and offer suggestions that will appease you, as well as others. HHH

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SAGITTARIUS (Nov. 22-Dec. 21): Don’t let your emotions take over. If someone says something you don’t like, walk away. Trust in yourself, not information you get secondhand. Put more energy into looking your best and taking better care of your health. HHH

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CAPRICORN (Dec. 22-Jan. 19): Make positive changes at home that will give you more time to relax or to work on something you enjoy. Spin an unexpected turn of events into an opportunity. Don’t let someone from your past interfere in your personal life. HHH

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AQUARIUS (Jan. 20-Feb. 18): Personal improvements should be handled with care. You can get good results without going overboard or over the budget. An unexpected opportunity can turn into extra cash. HHHHH

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PISCES (Feb. 19-March 20): Your unique way of looking at things can be enlightening but also costly. Select your options carefully. Follow the most conservative path to eliminate getting in over your head emotionally, physically and financially. HH BIRTHDAY BABY: You are sensitive, innovative and flirtatious. You are insightful and proactive.

‘surround sound’ BY KYLE DOLAN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Committee type 6 Use a StairMaster 10 Hunk of bacon 14 Spot for a lazy day 15 Catch some waves? 16 Groening strip setting 17 DC Comics cosmic construct (“Madness”) 19 Piedmont wine region 20 Historical period 21 Project leader (“Every Rose Has Its Thorn”) 23 Snitch 24 “Nothing ___” 25 Sliced burger topper 28 Stoops (to) 31 Sockeye relative 32 Blackmailer’s conclusion 34 Rapper ___ Def 37 London travel hub (“Alone”) 40 Gathering dust, say 41 Not in class 42 Carpeting calculation 43 Be against

5 Seize 4 46 Reckon, casually 48 Gamer’s “Yay!” 50 Wicketkeeper’s squad (White Room) 54 Hand-me-down source, for short 57 Took, as a ski lift 58 Tribute groups, or a hint to what bookends the starred answers 60 “You got that right!” 61 Rope source 62 Hardly clumsy 63 Water under the bridge? 64 Anita of jazz 65 Carried in a bag DOWN 1 Pinnacle 2 Gloomy 3 Grass-skirt dance 4 National Coming Out Day mo. 5 Contribute 6 Arab leader 7 Arctic bird 8 E, on a map 9 ___ school (Exeter, e.g.) 10 Casino costar Stone

1 Minimalist’s axiom 1 12 Iron Chef America host Brown 13 Rapper’s flashy accessories 18 Otto ___ Bismarck 22 Garden border tool 23 Print maker? 25 Dos x cuatro 26 Christmas, in carols 27 “News to me!” 28 Donald Duck nephew 29 Panache 30 “Really?” 32 Spheres 33 Santa ___ (city near Sonoma) 35 Some contain iron 36 RBI, for one 38 Salma of Frida 39 Frida, e.g., in Frida 44 Rise to stardom 45 Australian burrower 46 “Out!” 47 Sneak preview, informally 48 Tearful 49 Crew need 51 Tunnel effect

2 ___ the line (conformed) 5 53 HBO drama rating, often 54 Bad mood 55 Run without moving 56 Future teacher’s deg. 59 Long ___

Solution to yesterday’s puzzle:

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Wonder Woman to the rescue: Gal Gadot takes on Netanyahu J

By Aron Heller The Associated Press

ERUSALEM—Wonder Woman star Gal Gadot has come to the rescue of a fellow Israeli celebrity in a spat with Prime Minister Benjamin Netanyahu. Gadot, who typically shies away from politics, is rallying behind Rotem Sela, one of Israel’s top models and TV hosts, who drew fire from Netanyahu for criticizing his fearmongering election campaign against the country’s Arab minority. Sela’s rebuke of Netanyahu, and her call for equality for all Israeli citizens in an Instagram post, prompted the prime minister to take to social media himself and lecture her that “Israel is the nation-state of the Jewish people, and of it alone.” Gadot responded late Sunday with her own supportive post for Sela to her more than 28 million followers on Instagram: “Love thy neighbor as yourself. This isn’t an issue of right or left. Jew or Arab. Secular or religious. It’s an issue of dialogue,” Gadot wrote. “Rotem, my sister, you’re an inspiration to us all.” Netanyahu, who is in a tight race for reelection, has tried to rally his religious and nationalist base with charged accusations that his challengers will form a coalition government with Arab political parties. The strategy has drawn charges of incitement from Arab leaders and other political opponents. Arab parties have never sat in a governing coalition. Over the weekend, Culture Minister Miri Regev, a Netanyahu surrogate in the ruling Likud Party, repeated his mantra in a television interview. Sela, best known in Israel for hosting a pair of popular reality shows, was watching at home and responded angrily. “What’s the problem with the Arabs? Good heavens, there are also Arab citizens in this country,” she wrote to her hundreds of thousands of followers on Instagram. “When the hell will somebody in the government tell the public that Israel is a state of all its citizens and that all people are born equal?” Netanyahu, who has a team of young tech-savvy assistants devoted to his social-media outreach, quickly responded by correcting Sela that his government had passed a law enshrining Israel as the nation-state of the Jewish people. He followed up the next day with another shot at the beginning of his weekly Cabinet meeting. “I would like to clarify a point that, apparently, is not clear to slightly confused people in the Israeli public,” he said. Israel “is the national state, not of all its citizens, but only of the Jewish people,” he said. Sela, whose account was quickly bombarded with nasty comments, vowed to keep speaking up, wishing for a leadership that “gives real hope for peace, equality and love instead of incitement and divisiveness.” While Israeli entertainers, like their American counterparts, have reputations for holding liberal views, they have generally been wary of expressing themselves politically in recent years for fear of harming themselves commercially.

BLIND SPOT BRUCE C.

NEW MOM

SO is it true that the actress, who is on hiatus, has given birth abroad? She has long been rumored to be pregnant, and an actor, her supposed boyfriend, is said to be the father. It is not clear whether they still are , as the actor is rumored to be with his new costar. The actress said to be pregnant fled abroad in a move to find herself, and that’s when the pregnancy rumors started. Well, she is said to be no longer pregnant—and is now a new mommy. Congratulations, if this is true.

PAY DOWNGRADE

SO this actor is doing a movie with an actress from a different network, and everything is still hush-hush right now although there have been some leaks. One of the leaks is that the actor is going to be paid so much less than one of his expensive watches. At the height of his popularity, the actor would get paid double of what he’s getting for this movie for a TVC! But these days, he can’t be choosy. There are no new endorsements and there are hardly any offers. The actor is lucky to be working at all. In the past year, he has seen 80 percent of his endorsements not renewed and his popularity dwindle greatly. As they say, however, when the going gets tough, the tough get going.

TRANSFEREE

SO who’s going to star in the remake of a popular Korean drama? According to the grapevine, it is the sexy actress. But wait, the actress can hardly pass herself off as a doctor. Will she be doing workshops to improve her acting skills? And, wait, doesn’t she belong to the other network? That is the big story here. The sexy actress has been sending feelers that she wants to transfer and the other network is seriously considering it.

TOO LOUD Many performers rely on government grants and municipal contracts, so taking an unpopular stance could cost them financially. Netanyahu has previously seized on controversial comments during election periods to bunch such entertainers together with the media and other “elites” to galvanize his traditional, working-class base. In the current campaign, he has taken aim at Israeli Arabs, who make up about 20 percent of Israel’s nearly 9 million citizens. He has zoned in especially on prominent Arab lawmaker Ahmad Tibi and, using his own nickname, saying the election has come down to “Bibi or Tibi.” Arabs hold full citizenship rights, and Netanyahu has allocated considerable budgets to their communities to try to close wide economic gaps. But they are also frequently discriminated against, and come election time have become a convenient boogeyman for Netanyahu. Israeli hardliners accuse Arab citizens of being disloyal for sympathizing with their Palestinian brethren and with enemies elsewhere in the Arab world.

Facing a possible loss in the last election in 2015, Netanyahu helped turn the tide with a midday video in which he warned his supporters that Arab voters were heading “in droves” to the polls. Though he later apologized, Netanyahu and his allies appear to be deploying the same tactic this time around. “Recently, we are being exposed to an unacceptable discourse toward Israel’s Arab citizens,” Israel’s ceremonial president, Reuven Rivlin, said on Monday. “There are no second-class citizens and there are no second-class voters. At the ballot box we are all equal, Jews and Arabs.” Tibi tweeted that for Sela’s stance to be considered brave indicated the “dark times we live in.” Regardless, the 35-year-old secular Jewish woman from Tel Aviv has become their unlikely champion. “In Israel 2019, to say that the meaning of democracy is a state for all its citizens and that Arabs need to be full citizens—yes, that demands great courage,” tweeted Ayman Odeh, head of the joint Arab-Jewish Hadash party. “Rotem Sela, we don’t know each other, but well done.” n

Ashes of war ignite searing love affair FROM the studio that brought award-winning films such as this year’s multiawarded The Favourite and unforgettable hits, including 500 Days of Summer, Gifted, and Little Miss Sunshine, comes an untold moment in history in The Aftermath, starring Keira Knightley, Jason Clarke and Alexander Skarsgård. A searing love triangle following a seminal war, The Aftermath tails the end of the World War II when in the late 1940s control of Germany was divided among the British, the Americans, the Russians and the French. Their combined mission was to help rebuild the war-ravaged nation. The port city of Hamburg, Germany’s secondlargest city after Berlin, had suffered a devastating five-day bombing raid by the Allied forces in 1943 that killed 100,000 people and caused the destruction of 6,200 acres. Millions of German citizens were left either homeless or without food, fuel, or other necessities when the British arrived. After the cessation of hostilities, the native population was barred from having any involvement in running their own affairs. It is under these circumstances that Rachael Morgan travels from England to the ruins of Hamburg to be reunited with her husband Lewis, a British colonel charged with rebuilding the shattered city after the end of the second World War. As they set off for their new home, Rachael is stunned to discover that Lewis has made an unexpected decision: the

Wednesday, March 13, 2019

couple will be sharing their residence with its previous owners, the architect who designed the grand house, Stephan Lubert, and his troubled teenage daughter, Freda. The arrangement makes Rachael deeply uncomfortable. She resents the presence of outsiders she perceives as suspect, and she longs instead for time alone with Lewis to help heal the wounds that have taken a toll on their marriage. But the charged atmosphere soon takes on a different tenor. As she begins to absorb the weight of what they, too, lost in the conflict, Rachael’s stance toward the Germans begins to soften, slowly, evidenced by small gestures. Slowly, the tension between Rachael and Lubert begins to take on a different dimension, as she begins to see him as a kindred injured spirit and finds herself drawn to him. For Knightley, an Academy-award nominee for her previous work in Pride and Prejudice, The Aftermath is an intimate story about a woman who, having suffered a cataclysmic experience, finds a way to rebuild her life and move toward a more hopeful future. But it’s also a film with a larger message about the importance of forgiveness, compassion and the fundamental need for human connection. From Fox Searchlight/20th Century Fox, The Aftermath opens on March 13 exclusive at Megaworld Lifestyle Malls Cinemas: Newport, Eastwood, Venice, Uptown BGC, Southwoods, Lucky Chinatown and Festive Walk.

KEIRA KNIGHTLEY and Jason Clarke

THIS influencer is known for her personality. She is vivacious and very friendly. However, during certain events, she is the source of annoyance of some people for her subtle ways of getting attention. She’s always been notorious for her hunger for attention but, lately, the influencer has really stepped it up several notches. She is always noisy, giggling loudly, and is always moving until the people onstage notice her. That’s when she steps it up some more.

LUBAO INTERNATIONAL BALLOON AND MUSIC FESTIVAL 2019 THE Lubao International Balloon and Music Festival has been an enormous success for five consecutive years. It is known for its vast landscape, high-spirited concerts, and beautiful hot-air balloons that take to the sky in clusters. But every year has its own surprises: the Lubao IBMF 2019 is set to take festivalgoers above and beyond. Lubao 2018 featured annually held activities and some new ones such as an Rallycross, Off Road, and Ultralight Planes, which made the Going Five and Up event much more appealing to attendees. A number of the balloons deviated from the usual and featured special shapes like Christ the Redeemer, Olaf the Clown, and Bobo the Lobster, just to name a few. Although weather conditions made it difficult for the hot-air balloons to take flight, the event quickly regained its place thanks to the exhilarating performances by some of the country’s top performing artists and personalities. Following the previous year’s success, Lubao IBMF (www.facebook.com/LubaoIBMF) returns to take the public above and beyond from April 5 to 7. The artist lineup consists of crowd favorites, such as Al James, This Band, Juan Karlos, I Belong to the Zoo, Ben & Ben, Shanti Dope, December Avenue and Gloc-9. Also watch out for the country’s top artists Moira, Bamboo and Apl.De.Ap. Besides these outstanding artists, the Lubao IBMF 2019 will also offer some of its most loved activities, such as Rallycross, Off Road, Ultralight, Motoparagliding, Motocross and Zookobia, which are among many more entertaining activities. Priced at P350 per day, tickets are available at SM Tickets (www. smtickets.com). The Lubao International Balloon and Music Festival 2019 is organized by Lubao International Balloon Festival Inc. together with Forthinker Inc., in cooperation with the Arts, Culture and Tourism Office of Pampanga, and with support from Provincial Government of Pampanga. This event is also brought to you by San Miguel Beer, Petron Corp., San Miguel Purefoods Co. Inc. and NLEX Corp.

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Wednesday, March 13, 2019

WHAT CAN BREAK A YOUNG HEART? MATTERS of the heart know no age—at least medically speaking. Heart attacks and other cardiovascular diseases are common among the elderly that they seem inevitable, but these illnesses can actually affect young adults, as well. In the recent study published by the Canadian Medical Association, cardiovascular diseases and stroke are still among the leading causes of death worldwide—where onethird of heart attacks, 25 percent of strokes, and 40 percent of cardiac arrests occur in people of working age and those below 65. A top hospital in the Philippines, Makati Medical Center (www.makatimed.net.ph) gives us the early signs of heart diseases that you should never ignore. Recognizing these symptoms early is important to get the appropriate treatment right away which can save your life. Aside from age and other genetic factors, unhealthy lifestyle choices also play a big role in developing heart diseases despite the growing health and wellness trends in today’s generation. “While symptoms like chest pain or weakness are quite common, there are subtle signs that can be hardly noticed,” says Mary Milagros D. Uy, MD of MakatiMed’s Section of Cardiology, Department of Medicine. n UNCOMFORTABLE PRESSURE, FULLNESS OR PAIN IN THE CHEST AREA. If you have a blocked artery, you may feel pain, tightness, or pressure in the center or left side of your chest area. This sudden feeling can last for a few minutes, go away and then return. If the pain continues for more than five minutes, immediately seek help and go to the hospital. n NOTICEABLE SORENESS OR DISCOMFORT IN YOUR ARMS, BACK, JAW AND ABDOMINAL AREA. While chest pain is an obvious sign, arm, shoulder or back pain that waxes and wanes can also be an indicator of a possible heart attack caused by reduced blood flow to the heart muscles. n UNEXPLAINED FATIGUE, SHORTNESS OF BREATH AND COLD SWEAT. If you are suddenly experiencing unusual fatigue, shortness of breath, and cold sweat especially if you are diabetic, don’t be afraid to see a doctor and request for an electrocardiogram, or ECG, which can detect a possible heart attack. “Women and diabetics may have a typical manifestation of heart attack,” says Uy. Prevention is the best way to avoid cardiovascular diseases whatever season of life you are in, so start nurturing your heart by improving your lifestyle and quitting unhealthy habits. Be physically active and healthy, jump-start an exercise program, change your family’s diet and have regular checkups with your doctor to help you improve your overall health.

AXA PHILIPPINES HOLDS ‘I BOUNCE FOR HEALTH’ CHALLENGE

PARTICIPANTS in the recent Color Manila Run took part in the fun-filled “I Bounce for Health” challenge staged by AXA Philippines, one of the country’s leading insurance companies and one of the event’s major sponsors. Challenge participants were asked to jump on a trampoline and post on social media how they planned to jump-start their health journey to win a free AXA personal accident insurance card worth P50,000 in insurance coverage for a year. The contestant who made the most number of trampoline jumps received an additional prize. The challenge was part of the company’s thrust to promote health and fitness, and to be a partner for health for families and young people through insurance products. Photo shows AXA Philippines Segment Director for Retail Proposition Grace Mallabo (left) with Brand and Digital Marketing Director Alma Gruenberg-Aldip (right), and challenge winner Chrenz Garin.

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Project Greenhorn SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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E are going to promote you to become a manager.” I can still remember the very moment when my manager told me about her plans. My first question was, “Why me?” but she countered, “Why not?” I could think of a million reasons why I should not be promoted but before I could say anything else, she told me the director was behind the idea of grooming me to become a manager. I was surprised. I was always scared whenever I had to talk to that director because she was so smart and she asked the most incisive questions. Her support behind my promotion bolstered my confidence, and I found myself accepting the next challenge in my career. There were several lessons I learned within the first months of becoming a manager, and some of them I would like to share here for first-time managers so they would know what to expect. This is also for people managers who will promote others because these will be the challenges new managers will face, and these will help you better understand how you can support their development. Mainly, however, this article is for new managers and some tips on how they can traverse from being a team member to becoming a people manager. One thing you have to remember when you are promoted is to stay grounded. Do not let your promotion bloat your ego. Things might have changed but it just means you have more responsibilities. There is a different set of expectations and your potential has become the reality. You were considered for the position because of your skills as a contributor. You are now expected to not just contribute but provide strategic recommendations and innovative ways of working which will help your team and the company in general. Rank is directly proportional to roles and responsibilities. You will find out soon enough that you will be wearing several hats as you manage people. Many times, people get promoted because of their impressive contribution and resilience to trudge through problems to find creative solutions to their work. And sometimes, a person who is good in what he does will not necessarily know how to handle people. Too often, a new manager will find himself handling his own peers and this will pose a problem especially when he is very close to them. Or the opposite of that: you will be handling a different team where you do not know any of them. In these cases, boundaries have to be drawn. And it has to be made clear to your team that you look out for the entire team and not just certain individuals. Your decisions have to be inspected under the lens of equity and what will benefit the entire group. You also have to understand your new role means your priorities are no longer just about what you can do but also the contribution of your team to the company. Your success as a manager depends on the success of your team members, which means you have to invest time and effort in ensuring everyone in your team can significantly contribute to the overall objective of the team. Their success is your success. But this also does not mean you become overly focused on meeting targets and forget your team members are people. Targets are important but relationships also matter. Take the time to talk to your team members

individually. It could be as formal as a weekly oneon-one or an informal catch-up during lunch. But stick your ear to the ground and feel the pulse of your team. Developing a personal relationship with your team helps, you identify their motivations and, at the same time, help them understand your values as a leader. People know when you are just faking it when you talk to them. Show genuine concern by actively listening to what they are saying. It takes discernment and knowing your team members to understand whether the changes you want to implement will be well received. And if you know there will be opposition to new policies or rules, you have a better understanding of how to implement these in your team because you understand them and they know they can trust you. Trusting you as their manager is the best compliment you can ever receive from team members. And you can only earn their trust if you take the time to talk to them and know them. They need to know you are impartial. A good test of knowing whether your team trusts you is when they can openly oppose what you are saying without fear of retaliation. Too often, a team opposes a leader not because of this leader’s ideas but because of how they were treated by this leader. So even if the leader is implementing changes which will benefit the whole team, they will not follow because the leader is perceived as aloof and unworthy of trust. To avoid this, you have to get your team’s buyin. When your team gives their ideas, take the time to think it through before providing alternative solutions and explaining why their ideas will not work. And for really good ones and those who are passionate about their ideas, let them have a go at it

because either way, you cannot lose. If their idea fails, you show you are a leader who gives chances and you foster creativity in your team. And when their idea succeeds, you build up their confidence and you create a culture of innovation and problemsolving. Either way, you build trust with your team and show them that in failure or success, they know they can count on you. During coaching sessions with your team members, give specific feedback. Nothing frustrates someone more than a vague or ambiguous critique. You cannot just say the work was done poorly. Give details of why the work was such and provide explicit instructions on how to make it better. Sooner than later, they will catch on to your standards and strive hard to avoid those mistakes. But you have to be definite with what you want as the end product. Consistency with your standards will help team members produce exceptional work, and they even might surpass expectations. Through all of this, find someone you would like to be as a leader and ask them to be your mentor. Having a mentor will help you find the leadership style you want and help guide you on how to navigate the tricky world of office politics. Find a mentor who will teach you what you need to learn but is also willing to let go of you to find your own voice. While it is important for a mentor to have a clear vision, it is more important for a mentor to give you the tools you need to have your own vision. Being a manager is difficult but with proper guidance and the support of your team, it can become one of the most rewarding developments in your career. Take the challenge head-on and show them why you are worthy of your promotion. n

Internet, intuition can help businesses spot next big thing By JoyCe M. roSenBerG The Associated Press NEW YORK—When small business owners want to divine what consumer spending trends will be months from now, their methods can be as sophisticated as Internet analytics or as basic as plain old intuition. At Moriarty’s Gem Art, co-owner Jeff Moriarty tracks searches on the jewelry company’s web site and on Google Trends, a site that analyzes what people are looking for online. “If we see a gemstone or a style of ring or certain metal type gaining popularity in a Google Trends report, we’ll create pieces and see how they sell,” says Moriarty, whose company is in the Chicago suburb of Crown Point, Indiana. While current sale trends are important for small retailers and manufacturers, it can be more critical to get a sense of what the next big seller will be, whether it’s the hot toy during the holiday season, a fashion silhouette or a smartphone. Owners can get clues from Internet searches, and deeper insights by

looking at the data creatively and discerning how consumer tastes are changing. Knowing what’s in the style and manufacturing pipeline can also help in anticipating trends. Social media is another resource. Andrew Thornton and William Jones stay on top of trends by connecting with the customers of their jewelry and bead store. “Social media helps inform your understanding of consumer psychology, and allows you to plan accordingly and make changes,” says Thornton, coowner of Allegory Gallery in Ligonier, Pennsylvania. “It can be useful to learn who your customer is and figure out how to better serve them.” Taylor Mack stays on top of book trends on Instagram, where book lovers connect at #bookstagram. Mack, who owns SilverFire Books, an online used book store, says she’s able to engage with customers on social media, and also see what they want. “I do market research by taking social cues from what users post on Instagram— the products they’re buying, the buzzworthy books they’re reading and their lifestyles,” says Mack, who lives in Issaquah, Washington.

Owners need to look creatively at sales or search data, no matter where they get it, to try to predict what’s next, says Marshal Cohen, a senior analyst at NPD Group, a company that tracks consumer trends. Two years ago, Cohen saw signs that loungewear sales were going to increase. He forecast that sales of products people use when they’re staying close to home—such as board games and cookware—would also increase, and they did. “You use the trends to try and pick the next style. That’s where your intuition comes in,” says Joanna Duda, owner of Pirillo Swimwear, a Chicago-based online retailer of women’s swimsuits. Duda has seen a lot of yellow clothes in recent seasons, so she’s turning to other hues for her upcoming collection. While some owners go to trade shows or expos to spot likely trends, or ask their manufacturer vendors, Phibbs warns that may not be the best approach. For one thing, the merchandise at trade shows may not be as new as it looks. Phibbs says there’s a lot of repetition as manufacturers have copied one another, and their merchandise has likely

been shown on the Internet already. Moreover, Phibbs says, manufacturers want to sell you what’s in their inventory—they want to clear it out so they can move on to their next line. But some trade shows do help owners forecast what trends will be. Thornton and Jones head to Tucson, Arizona, every January and February for a series of jewelry, gem and bead shows. They see the raw materials that go into jewelry, and learn what new stones, beads and other jewelry components are headed to market. “We’re seeing what is available before it’s available,” Thornton says. While analyzing search data from Google and also Amazon.com is important for Kelly Hsiao and Will von Bernuth as they run their skin-care products business, so are news reports. The owners of Block Island Organics get alerts on their phones so they’ll know when a law is passed or a study issued about skin care and sunscreen products or their ingredients. “It could change our entire business,” Hsiao says.

BusinessMirror E1 | Wednesday, March 13, 2019 • Editor : Tet Andolong

MAKATI Southpoint lobby

AVIDA’S SOUTHPOINT TO TAP YOUNG PROFESSIONALS MARKET By Rizal Raoul S. Reyes

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@brownindio

EADING midrange developer Avida Land Corp., a subsidiary of property juggernaut Ayala Land Inc., is eyeing the working millennials, who want to leap into the “adulting” stage, in its latest project. “We are looking at young, working Filipino millennials who are looking to adult. The experience of owning their own homes, especially one that promises the Ayala lifestyle experience, is an exciting prospect for them. Single professionals and early nesters looking for their own home near the Makati CBD will also be interested in this development,” Jojo Fabricante, head of the innovation and design group, Avida Land Corp., said in a press briefing. Avida Towers (AT) Makati Southpoint, the company’s newest project, is along Chino Roces Avenue, Barangay Bangkal, Makati City. The project will be a three-tower residential condominium development with a retail component. Raquel Cruz, vice president and head of corporate planning group of Avida Land Corp., said the first tower will have 28 residential floors and three podium floors, including the amenity area and retail on the ground floor. It will offer 924 residential units, with a choice of views of the amenity deck or the Makati and Bonifacio Global City skyline.

MAKATI Southpoint pool

Makati Southpoint will offer this market right-sized residences, or units ranging from 23.30 square meter to 38.20 sq m for the first tower. These are studio units, junior onebedroom and one-bedroom units. Furthermore, Cruz said Avida developed a grand central lobby for all three towers to enhance security and convenience of the residents. Avida projects in Makati have also become lucrative for property investors. “The occupancy rate for leased units is at 96 percent. Of that group, 97 percent are professionals aged 30 to 40 years old,” Fabricante said. “The Ayala brand is generally very strong in Makati, being at the forefront of the development of major business, commercial and leisure districts in the city. Avida Land has been present in Makati since 2007 with several residential projects that build on the Ayala lifestyle experience,” Cruz explained. Accessibility is one of the factors of Makati Southpoint that will attract the future buyers as the business and commercial districts of

AVIDA Makati Southpoint façade (night shot)

Makati are accessible to Edsa, SLEx, Pasay and Manila. It earned its name by being a converging point south of Makati; everything is within a 3-kilometer radius. At Makati Southpoint is located on Don Chino Roces Avenue in ba-

rangay Bangkal, Makati, less than 2 kilometers from the Makati Central Business District. According to property-research firm Colliers Philippines, office supply in the outskirts of the Makati CBD will be surging as much as 68 percent over

the next few years. Housing demand is expected to rise further in the area. Professional workers regularly taking a beating from traffic, safety and security issues, and bad weather have preferred to find smaller homes closer to their workplaces. “Then, we have units that are ‘just right’ for the needs of this market. Everything is efficiently planned and well-thought-out. It makes a good home for a market that is on the move, that seeks comfort and convenience,” Fabricante said. He said AT Makati Southpoint will provide amenities for both active and passive activities. For the active lifestyle, there will be open lounges for hanging out and a collaborative space that can function either for working or studying alone, or for small group discussions. Moreover, Fabricante said these areas function as an extension of the residents’ living spaces, where they can meet neighbors or just unwind. It also has a number of amenities, including a clubhouse, indoor gym, children’s play area, swimming pool, kiddie pool, a jogging path and a linear park. AT Makati Southpoint will put retail units on the ground floor

to complement the residents’ needs. Fabricante said environmental sustainability has been factored in Avida projects. Makati Southpoint will have rainwater harvesting for irrigation, and sensor-controlled hallway and podium parking lights for efficient power consumption. Like our other recent residential developments, Makati Southpoint uses water-efficient toilet fixtures, LED lights and low solar heat gain glass windows. To keep abreast of the latest trends in the industry, Cruz said Avida Land keeps a close eye and pushes innovation in each project. She said AT Makati Southpoint has been designed specifically in response to the demands of a new generation, more mobile and more value-conscious buyers. “For young professionals seeking a more compact living area but with enough breathable spaces, this three-tower development may be the best choice,” she said. “The market is a mix of Filipino millennials, single professionals and early nesters. This is a group seeking the adult experience of owning, living and investing in their own homes,” explained Fabricante, “The units were created around the idea of people who have a round-the-clock lifestyle, who are always on the go but want a restful home to sleep and unwind in Makati Southpoint has included a multifunction area and usable, open spaces to function as an extension of their living spaces.” The collaborative space can let residents work on their own devices, meet up or read or do hobbies in a comfortable indoor space. The lounge areas on the amenity deck allow them to meet guests or just enjoy the outdoors. A retail area will occupy the ground floor, where a grand central lobby will also be located. Makati Southpoint will eventually have three towers, but the first at 32 stories high has been moving fast in the market. About 40 percent of its launched inventory have sold out in the first month alone. Residences have a choice of the skylines of Makati and Bonifacio Global City on one side, or the refreshingly open amenity deck on the other. Makati Southpoint units range from P4.4 million to P8.5 million. The first tower will be completed by 2024. “We expect Makati Southpoint, given its location, amenities and features that are very specific to its market, to perform just as well. Just one month into selling and about 40 percent of the launched inventory has already been sold,” said Fabricante.

Business

E2 Wednesday, March 13, 2019

Queen City of the Visayas hosts ULI Study Tour

BASELINE Center by Cebu Landmasters Inc., a premier sustainable and smart mixed-use development

MACTAN-CEBU International Airport Terminal 2

Amor Maclang

FIRST DIBS IN REAL ESTATE

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EBU CITY is considered as one the top 20 Super Cities in the Tholons Services Globalization Index (TSGI), highlighting its economic prowess as the city known as “Queen of the South.” Regional and economic growth in the south has never been this apparent, and indeed, Cebu is on the rise as the country’s alternate metropolis, leading to a tremendous boom in real-estate development. The continuous growth of the business-process outsourcing (BPO) industries, tourism, information technology (IT), creative industries, and having a talented work force are contributing to Cebu’s growing economy. The Urban Land Institute will head to Cebu for a Study Tour from March 20 to 22, 2019, spearheaded by homegrown Cebuano developers and ULI members. Attendees will be

toured around three areas of Cebu, namely Mandaue, Cebu City and Lapu-Lapu City. Tour stops include up-and-coming commercial, residential and hospitality projects in Cebu. Some of the key highlights of the tour are Infinite City and Mandani Bay in Mandaue and the world-class Mactan-Cebu International Airport Terminal 2. Attendees will also have an intimate meeting with Mayor Luigi Quisumbing on the progression of Mandaue City as a rising central business district, with projects such as Mandani Bay, a 20-hectare waterfront development designed to be the focal lifestyle landmark of its

JEG Tower, a LEED pre-certified cutting-edge Grade A office and retail building

area. Here, residential towers rise from podium blocks interconnected by footbridges, exclusive parking links buildings at the base, retail spaces border wide boulevards, a tree-lined central avenue puts nature at the heart of the community, and a 500-meter water frontage defines the iconic quality of the development. The behind-the-scenes look at the airport will have speakers to discuss the infrastructure, which is the key to boosting the Cebu economy. Inaugurated last year, the project boasts of a capacity of nearly eight million passengers per year, which caters to international operations. Other tour includes the JEG Tower, the first of its kind by combining retail and office in a high-rise, which is in the heart of the Queen City of the South. The building boasts of its resource efficient quality in design, and construction. LEED buildings use less water, energy and emits less greenhouse gases. As a friend to the environment, JDC is able accomplish

this behaving set of the art facilities such as 100-percent backup power with 24/7 capability and VRF airconditioning. True to its commitment to LEED standards, the JEG Tower One Acacia’s roof deck also doubles as a green space. The deck will feature greeneries and sunshine spaces that will contribute to workplace wellness and promote a healthy lifestyle among tenants. Green spaces help people improve their focus and foster a more relaxed and productive environment while addressing important well-being concerns. As the metro continues to develop, JEG Tower One Acacia provides a green haven as an effort to bring sustainable development in Cebu City. Cebu Landmasters Inc. COO Franco Soberano will share their latest project Baseline Prestige, a sustainable and smart mixed-use development designed to nurture and promote an exclusive lifestyle while playing up the comfort of city living. The tower is located in

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American Standard launches Genie hand shower

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By Rodel Ambas Jr.

HE renowned kitchen- and bathroom-fixture brand pledges sales proceeds of new product to benefit local communities Manila joins other Asian cities, including Mumbai, Bangkok and Jakarta for a benefit sale organized by American Standard, one of the world’s most well-known bathroomand kitchen-fixture brands. Dubbed “Shower for Good,” the event was held in Eastwood City in Quezon City and is part of the bigger LixilUnicef’s “Make a Splash” program. Lixil is the parent company of American Standard. The Shower for Good benefit sale also coincided with the launch of American Standard’s Genie, an especially designed hand shower that features 120 micro spray-holes that ensure robust water flow even under low pressure. It also boasts an award-winning translucent design, which makes slime and mineral deposits easier to spot, prompting users to clean their hand showers more frequently. This product retails for

ALEN ALBAN (from left), Lixil Philippines country manager; Joralyn Ong, national retail sales and trade marketing director; Alpha Ang, Lixil Asia Pacific general manager; Emily Besavilla, Lixil Philippines marketing manager; Marga Baula, Unicef Philippines corporate fund-raiser; and Liza Rachel Cancino, marketing director for branding and communications at AS & Inax (Asia)

P595 in local hardware and homefurnishings stores. During the benefit sale, sales proceeds of 1,000 American Standard Genie hand showers were donated to the Make a Splash program, which will go to benefit disadvantaged children in the Philippines who have no access to clean water and basic sanitation. By 2021, the program will have contributed to global efforts

to improve basic sanitation for 250 million people around the world. Listed on the Tokyo Stock Exchange, Lixil is one of world’s leading experts in water and housing products. The company leverages its expertise as it teams up with Unicef to work in over 100 countries worldwide to improve access to clean water, basic toilets and good hygiene practices.

THE awardwinning Genie hand shower AMERICAN STANDARD

the Baseline Center, which brings together residential, commercial, office and hospitality together in a strategic location—right along Juan Osmeña Street. An innovative residential project by Fiona King and Acropolisland is the BLOQ Residences, which shines the light on new real-estate buyers—first-time buyers—who would finally discover that real-estate purchase need not be complicated, prohibitive and frustrating. BLOQ Residences spoke the language of and pulsed with the heartbeat of the independent, ambitious, and hardworking young Cebuano who is at long last empowered to make the bold move of owning his or her own first home. King is also licensed real estate broker who figures actively in Cebu’s real-estate scene; she was the 2016 president of Philippine Association of Real Estate Boards Inc.-Cebu Real Estate Board, Cebu’s premier real-estate board. She is now actively serving as a national director for the Organization of Socialized and Economic Housing Developers of the Philippines. The powerhouses of the Cebu’s real-estate industry strongly represent the Urban Land Institute’s mission to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. On a local level, this is part and parcel of the national council’s commitment to further decentralize the real-estate industry and recognize outstanding projects in the Philippines. “The goal of the tour is to promote recent, innovative and sustainable developments in Cebu, particularly of our Cebuano members,” Delfin Angelo Wenceslao, ULI Philippines’s national chairman said. The ULI is an international, membership-based nonprofit research

and education organization. Founded in 1936, the Institute now has almost 40,000 members worldwide representing the entire spectrum of land-use and real-estate development disciplines, working in private enterprise and public service. The Institute has more than 2,100 members across the Asia Pacific with a particularly strong presence in Australia (Brisbane, Melbourne and Sydney), China Mainland (Beijing and Shanghai), Hong Kong, Japan, the Philippines, Singapore and South Korea. The local chapter of ULI in the Philippines is located in Metro Manila and hosts various events such as study tours, talks, conferences and panels that allow both members and nonmembers ali ke who are real-estate industry practitioners to connect and share knowledge in line with their mission and vison. ULI brings together industry leaders with a common commitment to improve professional standards, seek the best use of land and follow excellent practices. By engaging experts from various disciplines, the Institute can arrive at responsible solutions to problems that would be difficult to achieve independently. ULI shares its knowledge through various discussion forums, research, publications and electronic media. ULI’s activities in the region are aimed at providing information that is practical, down to earth, and useful so that on-the-ground changes can be made. By building and sustaining a diverse network of local experts in the region, the Institute is able to address the current and future challenges facing Asia’s cities. For more information about the ULI Cebu Study Tour, contact philippines@uli.org or asia.uli.org.

Keep your homes termite-free with JDI

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ERMITES may be small in size, but these little pests can cause some big and serious damages to your home. That’s why it is important to think ahead and make sure that your precious abode is protected from the hazards of termite infestation, which could ruin its structural integrity. Worse, termites can damage not only wood but also your prized possessions like clothes, money bills, important documents and even electrical wirings—which can even cause fire. So to foster a happier, safer, and more secure home environment, it’s important to have regular and rigorous inspection of your homes to detect early signs of termite infestation. Prevent termite infestation in your house with Jardine Distribution Inc.’s (JDI) Total Termite Solution. To protect your prized wooden furniture and other wooden structures against termites, the tried, tested and trusted Solignum is your best ally. Aside from working against termites, the Superbrand-recognized Solignum has insecticidal and fungicidal properties that can also work against fungi and woodborers. And while wood preservation is a common step when dealing with termites, we must remember that termites come from soil, too. You may not know it, but termites might be destroying your house from under. To prevent subterranean termites from entering your home, use Soilguard—an odorless water-based soil termiticide that creates a termite-lethal barrier that prevents termites

from entering the structure. This easy-to-use and cost-efficient termite solution kills any termite it comes into contact with. Stop these insidious little pests from invading your home with JDI’s Total Termite Solution—Solignum and Soilguard. Jardine Distribution Inc.’s line of home pest Solutions is available at leading supermarkets (Shopwise, Rustan’s, Wellcome) and DIY stores (Handyman, Ace, Citi, and Wilcon, among others) nationwide. For more information, go to www. jardinedistribution.com.

sMirror

Wednesday, March 13, 2019 E3

BPOs CONTINUE TO BE DRAWN TO NEW OFFICE PROJECTS IN CEBU

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ITH vacancy rates currently hovering at a very low 2 percent to 3 percent in Cebu City’s largest business districts, projects like the 21-story Johndorf Tower at the Cebu Business Park (CBP) due for completion in two years’ time are entertaining inquiries this early. Cebu City continues to be the second most preferred destination of business-process outsourcings (BPOs) after Metro Manila, according to Phillip Anonuevo, executive director of Leechiu Property Consultants, a leading real-estate services firm with an extensive client base covering Metro Manila and Cebu City. BPO firms that have been driving the country’s office market for over a decade now naturally opt for Cebu when they decide to expand outside Metro Manila, he clarified. They are attracted to the Queen City’s rich labor pool, as well as its infrastructure including an efficient electric grid independent of Metro Manila’s. “This works well for BPO firms implementing redundancy plans,” he noted. In addition, Cebu’s proximity to

other Philippine tourist destinations like Dumaguete and Bohol makes it an ideal place to set up business from the point of view of BPO foreign executives. Moreover, rental rates now hovering from P500 to over P800 per square meter at the Cebu Business Park and the nearby Cebu IT Park remain affordable. Cebu Business Park is the most established business district in the city offering easy access to transport lines to all of the major residential areas, and a host of retail and dining choices at the nearby Ayala Center Cebu regional mall. Thus, lessees’ interest runs high in Johndorf Tower located on CBP’s main thoroughfare Mindanao Avenue, even if construction just commenced at the project last February. The building offers a gross leas-

able area of 17,860 sq m. It has large floor plates designed to accommodate the needs of BPO firms which typically measure 1,400 sq m. Moreover, it is one of the few new projects in Cebu City that complies with the Fire Bureau’s new building density ratio of 1 pax:4.6 sq m. Johndorf Tower is also one of the few buildings in Cebu that is aiming for LEED (Leadership in Energy and Environmental Design) Silver certification. LEED Certified buildings reduce their own carbon footprint through building designs that maximize natural lighting and minimizes the need for air-conditioners. Occupiers of these buildings enjoy more efficient energy and water consumption, lowering their operating costs. Its developer is Johndorf Ventures Corp., one of the leading residential developers based in the Visayas-Mindanao region with over 15,000 units sold in cities like Iligan, Cagayan de Oro, and Davao and a township in Cebu. Johndorf Tower is the firm’s initial foray into the office market. In 2018, Cebu City accounted for 8 percent of the Philippines’s total office demand of over 1.5 million sq m next to Metro Manila’s 73 percent, according to a study by Leechiu Property Consultants. New projects like Johndorf Tower hope to increase Cebu City’s share of the pie.

AT the ceremonies representing Johndorf Ventures Corp. were key executives Frances Abegail Lim (fourth from left), Norma Lim (fifth from left), and President and CEO Richard Lim (sixth from left). They were joined by (from left) Ed Byron Monares, Raymond Wilson Lim, Leechiu Property Consultants’s Phillip Anonuevo, Arch. Jose Siao Ling, Monocrete Construction’s Manuel Mendoza, Design Coordinates’s Franz Ziebert and Patrick Wilson Lim.

BPO firms that have been driving the country’s office market for over a decade now still naturally opt for Cebu and new projects like Johndorf Tower in Cebu.

Tips in purchasing pre-owned homes

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PROPERTY seeker is always hesitant when it comes to buying secondhand homes. This is because such properties could eventually cost you a fortune in renovations if you are not cautious. Spare yourself from possible buyer’s remorse. PSBank helps you spot a gem among wide choices of pre-owned houses with these tips:

Know where to look

Aseana City’s most integrated mixed-use development begins construction

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.M. Wenceslao and Associates Inc. (DMWAI), developer of Aseana City, takes another step in creating a worldclass and progressive community as they formally hold the groundbreaking ceremony of Parqal; the most modern and integrated mixed-use development project in Aseana City. Parqal, a word play from the terms park and kalye is a 5-hectare development that has a gross floor area (GFA) of 78,000 square meter It is composed of nine independent four-story buildings that will oc-

cupy two blocks of Macapagal Boulevard—Block 2 (between Celero Drive and Macapagal Boulevard), and Block 5 (between Macapagal Boulevard and Imao Road). The buildings’ architectural expression has a modernized approach in terms of form, character substance, and material profile of the “Bahay-naBato”—the Philippines’s vernacular architecture derived from Hispanic and Chinese influences. Seeing the need for more openspaces in modern urban planning, 60 percent of Parqal’s total lot area

is dedicated to lush green landscapes and recreational facilities. Moreover, it is projected to achieve Berde’s four- to five-star rating certification from the Philippine Green Building Council. “Decades ago, sustainable park living in the city was only a dream for the Filipinos. With the inception of Parqal, this dream is now a reality. Imagine a long retail spine where you can find themed openspaces every five minute walk. I think that’s something you can only find in Aseana City,” said Buds

Wenceslao, CEO of DMWAI. In the future, Parqal is perceived to be one of the top tourist hubs in the Metro boasting its impressive architectural design, firstrate retail and commercial outlets, prominent green spaces, and proximity to the airport and other public transportations. Moreover, through this project, DMWAI’s aims to generate more jobs for the Filipinos and establish a community that is sustainable, progressive and world-class. Parqal is slated for completion by end 2021.

THE best places to find pre-owned real-estate properties for sale are banks and local government institutions such as the Home Development Mutual Fund or Pag-IBIG. Check out their web site and you’ll find the best property deals. There are also property auctions that these institutions organize. Some properties not normally listed in their web sites are being auctioned here.

Schedule a visit or inspection

DETERMINE the real condition of the house yourself by asking a professional inspector for help. Check if the basic structure, floor plan and infrastructure remain sturdy and durable. Ensure that there’s electrical and plumbing system installed, rooms are well-proportioned and there are no bad cracks or serious leaks. A great buy would be one with no major fixes and you’ll be able to move in to your new home soon.

Consider the location

THE location is just as important as

the house itself. If it is located within a good school system, a nearby transportation, market or grocery, then finding a home priced to accommodate the necessary updates could be a good deal.

Verify documents

CHECK the title and latest property tax receipt. The title will not only tell you how old the property is but it will also let you know if the property had a chain of previous owners.

Check the market value of the property

TO ensure that you will not be paying more than you should, go through the current price trends and get an estimate or seek an expert to help you evaluate the second-hand property against similar properties in the area. Buying an excellent pre-owned property or a second-hand home entails lots of patience and due diligence. However, getting it for a bargain price should be more than enough motivation and be able to convince you that what you purchased is more than what you paid for. You really just need to know where to look. PSBank is currently offering significant discount on its already low-priced pre-owned real-estate properties for sale. www.psbank.coml.ph/propertiesforsale

Entrepreneur BusinessMirror

E4 Wednesday, March 13, 2019

www.businessmirror.com.ph

Online platform bridges franchising gap for aspiring overseas-based entrepreneurs

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By Rizal Raoul S. Reyes

@brownindio

Contributor

ASY Franchise, an online platform that offers a consolidated list of franchises, wants to assist overseas Filipino workers (OFWs) and migrant Filipinos make an intelligent choice on where and what investments they could venture into while keeping their jobs abroad all along.

EASY Franchise Cofounders Rene Ledesma Jr., Jose Magsaysay Jr. and Anton Ojeda pose for a snapshot for posterity.

Rene Ledesma Jr, cofounder of Easy Franchise, said the online platform will guide OFWs on the rudiments of franchising by addressing the gaps. “It will find all franchisors and knowing the franchisors for the future franchisees. It will lessen the friction cost for the franchisors and future franchisees,” Ledesma pointed out. Jose Magsaysay Jr., a cofounder of

hope to support the whole industry in reaching its goal of moving past the P1.3-trillion mark in 2020,” said Magsaysay, also the chief executive officer of Potato Corner, said. Isabel Lim, Easy Franchise general manager said the platform would allow the two parties to meet and match their needs. “Our goal is to connect our franchise investors and buyers to the franchise system that would best suit

Easy Franchise, said technology also enables businesses to broaden their businesses and gives an opportunity to the prospective entrepreneurs to link up with the master franchisor. “There is also a huge opportunity for technology to be used to grow the franchise industry. Several other sectors such as transport and energy have seen huge growth and development.... Through Easy Franchise, we

their needs. We have partnered with a wide array of reputable franchise brands that will cater to the taste of each franchise buyer,” Lim said. “We are mindful of the simple yet cumbersome tasks that are related to owning a business through franchising, and that is why we have created features in the Easy Franchise platform to make it easier for our franchise investors, and ensure that their focus is on business growth and not

just [on] management,” Lim added. With the introduction of Easy Franchise, people now have easier access to everything about franchising as long as they have a basic Internet connection. “Technology really helps bridge gaps in different industries, and it is also applicable in the franchising industry. Through Easy Franchise, we are building a digital bridge to allow overseas Filipino workers and Filipino migrants to participate in the franchising industry,” Ledesma said. He noted that Filipinos living abroad have more disposable income than those working in the Philippines. With the extra money that

they have in their pockets, they can easily invest in a franchise system through Easy Franchise to add a new revenue stream. They can also use Easy Franchise’s digital dashboard to monitor their businesses remotely while maintaining their job abroad. “Our aim is to help connect the world to the local franchising industry through our new breed of franchise investors, our overseas Filipinos. With the use of technology, we will be able to open up a new market to franchisors, while helping the industry to realize its dream of hitting the trillion-peso mark by 2020,” Magsaysay said.

It [Easy Franchise online platform] will find all franchisors and knowing the franchisors for the future franchisees. It will lessen the friction cost for the franchisors and future franchisees.”—Ledesma

Food exporters BOI-approved IB projects eye to source P2.99B from MSEs Pangasinan exposition seeks to boost agro-fishery output told to update I product labeling S By Elijah Felice E. Rosales @alyasjah

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ILIPINO food exporters were instructed by the United States Food and Drug Administration (US FDA) to update their labeling in accordance with new rules on serving sizes, daily values and nutrient definitions. In a letter, Philippine Chamber of Commerce and Industry Secretary-General Crisanto S. Frianeza reminded local food manufacturers to be proactive in updating the labeling of their products. He said they must start complying now as the required changes could take time to implement. The new US FDA rules on labeling, which were finalized in 2016, will take effect on January 1, 2020, to large food firms with annual gross sales of $10 million or more, while small businesses will have an additional year to comply. “The mandated updates to daily values for certain nutrients, such as dietary fiber, will require food manufacturers to readjust certain percent daily values on their labels. In addition, manufacturers will need to account for the daily values of vitamin D and potassium, which have been required on a product’s food label,” the letter read. Exporters of food and beverage products to the US have to make the changes now, as adjustments to the new rules “will need laboratory tests,” Frianeza argued. Further, the new US FDA regulations require products with claims, such as “high in” these nutrients and “may reduce the risk of” certain diseases, now have to contain a specific percentage of the nutrient’s daily value consumed in one serving. In the process, some manufacturers might need to reformulate a product to match the required content of a certain nutrient. “For example, the new rules increase the daily reference value [DRV] of fiber from 25 [grams] to 28 grams. [The] FDA requires a product to contain 20 percent or more of the DRV per reference amount customarily consumed [RACC] in order to claim it is high in fiber. A product with 5 grams of fiber per 25 gram RACC may claim to be ’high in fiber’ now, but once the new DRV of 28 grams takes effect, it will only contain about 18 percent,” the letter read. The manufacturer of that product, Frianeza explained, has to be reformulated with more fiber. Otherwise, the claim has to be removed from the product by the deadline. Frianeza urged manufacturers to do their task now to avoid accumulating a surplus of outdated labeling inventory once the new rules are in full swing. “Food labeling consists of several components. The earlier you begin, the more time you allot for the unexpected and improve the chance of avoiding a surplus of outdated labeling inventory,” the letter concluded.

NCLUSIVE business (IB) projects approved last year by the Board of Investments (BOI) target to source nearly P3 billion of goods and services from small firms in compliance with their commitment to provide livelihood to poor areas. Five IB activities in agriculture and tourism approved in 2018 vowed to collectively procure P2.99 billion worth of products and services from micro, small and medium enterprises (MSMEs) by the third year of their commercial operations. They also committed to directly employ at least 185 workers, of which 30 percent are women, and engage over 1,000 individuals from marginalized sectors. Trade Secretary Ramon M. Lopez said this shows the potential of IB firms to contribute to the creation of decent jobs and livelihoods in the sites where they do business. “The almost P3 billion worth of goods and services being sourced from MSMEs translate to decent jobs and livelihoods in the areas where

these projects operate and to think that these are coming from only five projects. Just think of the impact that ten or a hundred projects will create in the countryside if we can get more companies to engage in IB,” Lopez stated. The BOI is looking at IB as one of the most viable options in the development of a dynamic and more inclusive agricultural sector, as three of the five projects approved last year came from this. Cargill Joy Poultry Meats Production Inc., which invested P2.08 billion on an integrated dressed chicken processing plant in Santo Tomas, Batangas, targets to source at least P1.53 billion of goods and services from MSMEs. This should translate to about 400 marginalized individuals engaged. Further, Millennium Specialty Coco Products Inc. in Panabo, Davao del Norte, looks to engage around 460 marginalized individuals suppliers, tollers and workers, and source P223.9 million of raw materials from

MSMEs. On the other hand, Biotech Farms Inc.’s P1.1-billion rice milling facility in Tantangan, Cotabato is looking at procuring rice paddy for its operations from farmers around the area. The project will source P999 million of raw materials and services from MSMEs, and engage at least 320 marginalized in the process. On tourism, Seda Lia Resort in El Nido, Palawan, aims to directly hire 25 low income individuals as workers, and get P60 million of goods from MSMEs. The resort is a P1.67 billion tourism facility owned and managed by Econorth Resort Ventures Inc. in the growing Lio Tourism Estate. It is a 153-room infrastructure that can showcase the biodiversity and natural attractions of the surrounding Bacuit Bay. Last, the P2-billion Canvas Duawon Hotel and Resort in Marigondon, Lapu-Lapu, will buy P380.47 million of products from MSMEs, and directly recruit 30 marginalized persons. Elijah Felice E. Rosales

Francorp, PFA schedule forum on entrepreneurship this month

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RANCHISING a business still ranks as the most popular growth strategies among aspiring investors. While regarded the “safest” choice, it is, however, not without its challenges, the reasons why even the “most prepared” entrepreneurs or “established” brand enterprises need a thorough understanding and know-how of the trade. With todays’ industry ripe with existing and up-and-coming franchise investment concepts, starting out “smartly” is indeed gamechanging advantage for a business to prevail successfully, and sustainably. But how and in what ways can entrepreneurs begin wisely in franchising? How can they map out the best future for their businesses? Aspiring franchisors, newbie investors and start-up owners seeking to revitalize their existing businesses to maximize their expansion potential can seek the answers by learning these essential rudiments in the trade straight from the experts in a series of seminars presented by Francorp, the worldwide leader in franchise development and consulting, in

cooperation with the Philippine Franchise Association on March­­30 and 31, 2019, at the Franchise Asia 2019 at SMX Convention Center in Pasay City. Participants will learn how to grow their business using other people’s money, time and connection. See the step by step process of how to franchise your business, the latest and future industry trends, gainful tips and secrets from the biggest names in franchise today, including evolving industry practices, systems and product innovations crucial to keep businesses moving forward. Designed “by entrepreneurs, for entrepreneurs” to help grow their businesses wisely, this year’s seminar series focuses on various timely topics: Franchise Advantage: Why Franchise?, How does the Franchising Business Work?, Is My Business Franchisable?, How to create a franchise business?, How to franchise in the Philippines and internationally?, and Trends and Opportunities in Franchising. “For a franchise business to succeed, it has to have well-placed

systems and a clear business plan. As for owners, on a personal level, they must have the maturity and the readiness to deal with any possible eventualities. Also, developing the right managerial skills and keeping abreast with the latest trends and future franchise concepts is crucial and is a strong indicator that predicts the business’ performance and longevity. These concerns can only be best learned via a systematic and guided approach coming from professional franchise advisors/analysts,” said Noel Siggaoat, managing director of Francorp Philippines. A globally leading franchise development and consulting firm, Francorp’s reputation is built on years of solid experience and industry expertise. To date, Francorp has helped develop over 3,000 franchise businesses and assisted more than 10,000 companies worldwide in their franchise expansion. Headquartered in Chicago, Francorp has grown to 22 offices and hundreds of franchise consultants not only in the United States, but all over South America, Asia, the Middle East and South Africa.

ANTA BARBARA, Pangasinan—The provincial government of Pangasinan has opened the third Umaani Expo showcasing the latest farm machineries and equipment, as well as providing a platform for farmers and fisherfolk to promote their products. Gov. Amado Espino III, in his speech during the formal opening program on Monday, told farmers and fisherfolk that the goal of the activity is to enable them to learn more about various ways to further boost their agro-fishery production. “Para matuto at kumita kayo [So you would learn and earn more] for your families and send your children to school,” he said. Espino also told his audience that the expo has a lot to offer, as the national agencies, such as the Department of Agriculture, National Irrigation Administration, among others, alongside the provincial government, are supporting them. “Let us recover. The provincial government is here to help you as we strengthen and develop agriculture in the province,” he noted. Pangasinan’s agriculture sector experienced massive loss last year due to several weather disturbances in the province. “The Umaani Expo, a brainchild project of the governor, is a way of showing recognition and gratitude to the farmers, and fishermen for their sacrifices and invaluable contributions to the food security in the province, and to nation building,” said provincial agriculturist officer in charge Nestor Batalla. On March 12 the Umaani Expo will highlight the Sangka Contests or the competition for the biggest, heaviest and longest high-value crops; and heaviest fish, among others. Attendees will also learn about the latest updates and concerns on farming, fishery, livestock raising, and other technical concepts on agricultural production. The five-day expo, which runs from March 11 to 16, carries the theme: “Payabungin at Pangalagaan ang Agrikultura ng Pangasinan.” Other activities include Agew na Umaaniy Pagey (Rice Farmers’ Day); Agew na Umaanid Tanaman (Corn and High Value Crops Farmers’ Day); Agew na Umaanin Bii (Women’s and Agribusiness Day), and Agew na Umaaniy Sira (Fisherfolks’ Day); Agew na Umaani Extension Officers (Agricultural Extension Workers’ Day); and Agew na Managayep (Livestock Raisers’ Day). PNA

Mindanao bizmen see good prospects in ‘Dubai Gulfood’

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AVAO CITY—Mindanao businessmen who participated in the recent investment mission and exposition in Dubai are eyeing business ventures with traders in the Gulf States. This was recently disclosed by Amhed Jeoffrey J. Datukan, development management officer of the Mindanao Development Authority. Datukan, who was with the Mindanao team in Dubai together with Minda’s Executive Assistant Akhzanuniza Macatbar Alonto, said the mission was held simultaneously with the Outbound Business Matching Mission to Gulf Cooperation Council countries. Among the Mindanaobased companies and micro, small and medium enterprises that joined the Gulfood were Alsons Aquaculture Corp. in

Alabel, Sarangani Province, represented by Deputy Export Manager Mary Grace Bingco; Century Pacific Food Inc. with Sherrylou M. Marzo, export sales and marketing section manager; First Panabo Tropical Fruits Corp. Anflo Industrial Estate, with Bernadette Tan, key accounts manager; MEGA Global Corp., with Janet Begasas, export development manager; and See International Food Mfg. Corp., with its president Ruben See. “On the side, we see some prospects where our Mindanao businesses got to talk to their counterparts building linkages and connections,” he said, adding there is a need to sustain the link to penetrate the large Dubai market. “The market is huge and the potential is big,” he said. PNA