BusinessMirror May 01, 2019

RICE PRICE DIP, PESO HIKE CUT INFLATION?

T BUSINESSMIRROR FILE PHOTO

HE growth of key commodity prices in the country could have fallen back to the 2-percent territory in April, owing largely to the continued decline of rice prices as well as the peso appreciation during the month.

In the Bangko Sentral ng Pillipinas’s (BSP) monthly inflation forecast, its Department of Economic Research (DER) announced its projection on Tuesday, for inflation to settle within the 2.7 to 3.5 percent range.

“Higher domestic oil prices and the slight upward adjustment in electricity rates are seen to provide upside pressures for the month,” the BSP said.

“However, these pressures may be

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PHILIPPINE STATISTICS AUTHORITY

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partly offset by the continued decline in rice prices and by the peso appreciation,” the BSP added.

Actual inflation in the first three months of the year hit an average of 3.8 percent, with the latest print reaching 3.3 percent. This is a reversal of the previous quarter’s inflation path, where the average rate of the October-toDecember 2018 inflation hit 5.9 percent.

In a recent BSP survey on private economists’ inflation views, local analysts projected an average inflation rate of 3.3 percent for this year. This is lower than the 4.1-percent average forecast seen in their December 2018 survey.

According to the central bank’s report, the economists’ expectation

of lower inflation emanated from the projected downward price pressures that are expected to dominate the inflation path for the year up until 2020.

“Possible downside risks to inflation include the implementation of the rice tariffication law, which is expected to improve domestic rice supply and stabilize prices, and lower global crude oil prices,” the BSP report on the private economists’ views read.

“On the other hand, the key upside risks to inflation are seen to emanate from adverse weather conditions such as El Niño, volatile global oil prices and foreign-exchange market, possible

BusinessMirror A broader look at today’s business

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Wednesday, May 1, 2019 Vol. 14 No. 203

PHL gets its highest credit rating of ‘BBB+’

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By Bianca Cuaresma

@BcuaresmaBM

HE Philippines on Tuesday received its highest credit rating from a major ratings agency to date, as the credit watcher lauded the country’s above-average economic growth.

In a statement on Tuesday afternoon, S&P Global Ratings announced that it is assigning a “BBB+” rating on the Philippines’s long-term sovereign credit rating.

The Philippines started its ascent at the investment grade ratings

scale ladder in 2013, when Fitch gave the country its first investment grade rating of BBB-.

Six years after, the country is now two notches above the minimum investment grade rating for S&P, which cited the rosy future of

the Philippine economy. The new rating is given a “stable” outlook by the ratings agency, which means that no material change is expected of the rating in the next 12 to 18 months.

“We raised the rating to reflect

We raised the rating to reflect the Philippines’s strong economic growth trajectory, which we expect to continue to drive constructive development outcomes and underpin broader credit metrics over the medium term.”—S&P

the Philippines’s strong economic growth trajectory, which we expect to continue to drive constructive development outcomes and underpin broader credit metrics over the medium term,” S&P said.

See “Credit rating,” A2

By Rea Cu

@ReaCuBM

HILE the country’s GDP likely expanded by more than 6 percent in the first quarter, the rate settled at the lower end of the government’s target due to a reenacted budget, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Ernesto M. Pernia said GDP growth in the January-to-March period could have been faster if the government was not forced to operate under a reenacted budget in the first four months of 2019.

“Maybe [GDP for the first quarter is] more on the lower end because of the reenacted budget.

[But] above 6 percent, hopefully [faster than previous quarters],” Pernia, who is also Neda director general, told reporters at the sidelines of the launch of the Sustainable Development Goals web site in Pasig City on Tuesday.

In March, the Development Budget Coordination Committee (DBCC) revised downward its GDP growth forecast for 2019 to 6 to 7 percent, from 7 to 8 percent.

“The impact on economic growth of budget reenactment is estimated

By Samuel P. Medenilla

F

@sam_medenilla

OR the first time since taking office, President Duterte will not hold any dialogue with labor leaders, even as his labor department faces the expected slew of wage-hike petitions from various groups.

Trade Union Congress of the Philippine (TUCP) spokeman Alan Tanjusay told the BusinessMirror they did not get any official invitation for a meeting with Duterte on Labor Day, but are nonetheless willing to meet with him after May 1.

In related developments, police stepped up security preparations in areas where Labor Day rallies are expected, while labor groups said they will push the wage-hike agenda in those demonstrations, as well as the security of tenure (SOT) bill touted to end the widespread practice of contractualization.

PESO EXCHANGE RATES n US 52.1060

“This will be the first time during the term of Duterte that there will be no Labor Day dialogue,” Tanjusay said.

Duterte had personally met with labor leaders on Labor Day in Davao in 2017 and Cebu in 2018.

Nagkaisa labor coalition Chairman and Federation of Free Workers (FFW) President Sonny Matula said, “We did not get any official invitation. Before, we got it a month before [the dialogue].”

The labor leader, however, said they are still willing to meet with Duterte even after Labor Day. “There may no longer be enough time [to organize that] tomorrow,” he said.

DOLE in Pampanga

TANJUSAY said they were invited by the Department of Labor and Employment (DOLE) to attend its main Labor Day event, which will be held in Pampanga.

See “No Labor Day,” A4

ATI flaunts new B’gas Container Terminal

A

on April 22, damaged roads and crucial infrastructure projects in Central Luzon, and forced the temporary closure of the Clark International Airport due to structural damage.

“The BSP is cognizant that environment and social risks post financial stability concerns that may have protracted effects [on] the economy,” Fonacier said.

BIGGER and smarter trade enabler for Southern Luzon officially opened on Monday as listed Asian Terminals Inc. (ATI) unveiled the newly expanded Batangas Container Terminal (BCT).

Equipped with more berths, four quay cranes, eight yard cranes and complementary mobile handling equipment, BCT is now more capable of handling the growing trade volumes of Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) region.

BCT is also seen to continuously help decongest the National Capital Region, serving as a viable and competitive port alternative to the ports of Manila.

In 2018, BCT handled a record volume of nearly 250,000 TEUs (twenty-foot equivalent units) -- an increase of more than 25 percent from previous year. With the expansion, BCT’s capacity has nearly doubled to over 500,000 TEUs, annually.

Unveiling of the terminal was graced by Sultan Ahmed bin Sulayem, Chairman of DP World, ATI’s foreign equity partner. He was joined by Transportation

See “BSP,” A2

See “ATI,” A4

The GDP growth target of the government for 2019

See “Growth,” A2

BUSINESS NEWS SOURCE OF THE YEAR

NO LABOR DAY DIALOGUE FOR DUTERTE, WORKERS

6-7% at -0.7 to -0.9 percentage points if the budget is reenacted until April 2019; -1.4 to -1.9 ppt if until August 2019; and -2.1 to -2.8 ppt under a full-year reenacted budget,” the DBCC statement read.

The Philippine Statistics Authority (PSA) is set to report the country’s first-quarter GDP on May 9.

In Apr i l , t he PS A re v i sed the country’s GDP print for the fourth quarter of 2018 to 6.3 percent, from 6.1 percent. The top contributors were the trade and repair of motor vehicles, motorcycles, personal and household goods; public administration and defense; and compulsory social security.

Pernia said the adverse impact of the delay in the approval of the 2019 budget could be offset by election spending and lower inflation, which could boost household spending, in the succeeding quarters.

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‘GDP growth in Q1 likely at lower end of target due to budget delay’

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See “Inflation,” A2

VACCINES WORK Health Secretary Francisco Duque III (center) gives an overview of the government immunization program at a briefing on World Immunization Week, which this year has the theme “Protected Together: Vaccine Works”. Joining Duque are Gundo Aurel Weiler, Country Representative of the World Health Organization (left) and Dr. Wigdan Madani, Unicef Chief of Health and Nutrition. Duque cited health workers as vaccine heroes and thanked the agency’s partners in immunizing 3.8 million children aged six months to 59 months against measles since February, at the height of an outbreak in several regions. ROY DOMINGO

BSP pitches sustainable finance after quakes

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HE recent 6.1-magnitude earthquake that rocked Luzon should open the dialogue to higher expectations for sustainable financing among banks in the country, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.

In her keynote address at the Sustainable Finance Dialogue Forum hosted by the Bankers Association of the Philippines, in partnership

with the World Wide Fund (WWF) and the Association of Development Financing Institutions in Asia and the Pacific (Adfiap) in Makati City, BSP Deputy Governor Chuchi Fonacier said the recent earthquake should be a “wake-up call” for banks to prepare for calamities, especially those with a prolonged impact on the economy.

The earthquake, which struck Luzon

n JAPAN 0.4668 n UK 67.4200 n HK 6.6435 n CHINA 7.7371 n SINGAPORE 38.2767 n AUSTRALIA 36.7608 n EU 58.2910 n SAUDI ARABIA 13.8946

Source: BSP (30 April 2019 )

News

BusinessMirror

A2 Wednesday, May 1, 2019

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PHL told to stop safeguard probe on float glass imports

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By Elijah Felice E. Rosales

@alyasjah

HE European Union (EU) has demanded that the Philippines end its safeguard investigation on float glass imports, saying it is not the appropriate measure that will resolve the surge in the import of the commodity.

In an e-mail to the BusinessMirror, a Geneva trade official said the EU asked the Philippines to stop its safeguard investigation on float glass imports during a meeting at the World Trade Organization (WTO).

During the meeting of the WTO Committee on Safeguards on Monday, the economic bloc argued the country should make use of another recourse in addressing the jump in its float glass imports in recent years.

“The EU said safeguards are supposed to provide temporary relief to an industry and are not meant to be permanent. If, after 10 years, an industry has not adjusted, maybe another course should be taken.

There was no significant injury to the domestic industry as required under Article 4.1 of the Safeguards Agreement,” the Geneva trade official said.

Growth. . .

Continued from A1

“Lower inflation motivated people to spend more. Election-related spending [will help].

Inflation fell to 3.3 percent, from 6.7 percent.

Hopefully, it would continue to go down,” he added.

The PSA reported in April that inflation in March slid further to 3.3 percent, from the 3.8 percent recorded in February, and

Credit rating. . .

“The rating is also supported by solid government fiscal accounts, low public indebtedness and the economy’s sound external settings,” the ratings agency added.

Strong growth story

IN 2018, the Philippine economy grew at 6.2 percent on account of sustained domestic spending and investment despite rising inflationary pressures and widening trade gap.

For 2019, S&P forecasts Philippine growth to hit 6.3 percent before it gradually rises to 6.7 percent by 2022.

Earlier this year, several international agencies—including the International Monetary Fund (IMF) and the Asian Development Bank (ADB)—scaled down their growth forecasts of the Philippines due to the delay in budget implementation this year.

S&P believes, however, that the effect on local growth of this is “one-off,” even as it warned that more of such delays in the future could be considered as credit-negative, especially if related to the institutional settings in the Philippines.

Overall, S&P paints a strong profile of the local economic growth story, saying the Philippine economy is growing “consistently

BSP. . .

Continued from A1

The BSP official said the financial system in the country is an important stakeholder in driving investments to activities that will promote sustainable, environment-friendly and disaster-proof activities in the country.

Fonacier said they are currently working on a two-pronged approach in creating an environment for banks that is friendly to sustainable financing, by particularly focusing on banks’ capacity building and by mainstreaming environmental, social and governance (ESG) standards for banks’ overall operations.

42,029 MT The volume of clear float glass imported by the Philippines in 2017

Under Article 4.1 of the Agreement on Safeguards, “serious injury” should mean a significant overall impairment in the position of a local industry. Threat to serious injury should mean serious injury that is clearly imminent, and the determination of which must be based on facts and not on allegations, conjecture or remote possibility.

“One certain country is responsible for 85 percent of the import of f loat glass into the Philippines, and accounts for virtually the entire rise in imports since 2013. All other exporters combined account for less than 5 percent. A more appropriate instrument should have been used, like antidumping and countervailing instruments,” the Geneva trade official said.

“The EU considers a safeguard is not appropriate in this case; [thus], Philippines should terminate its

investigation without delay,” he added. The EU is most likely taking a swipe at China, which accounted for the majority of the Philippines’s clear float glass imports, particularly in 2016 when it hit a 96.66percent market share.

In February, one month after the imposition of a safeguard duty on cement, Trade Secretary Ramon M. Lopez issued a notice of initiation for a preliminary investigation on whether to apply safeguard measure on clear and tinted float glass.

He claimed his agency found the existence of a prima facie case in the protest that increased imports over the past years seriously impaired the local industry of float glass.

Citing Customs data, the Department of Trade and Industry (DTI) said in a report the import volume of clear float glass jumped between 2013 and 2016, and only declined in 2017 due to the antidumping measure enforced on Chinese clear float glass.

Imports of clear f loat glass surged 646 percent in 2014 to 32,351 metric tons (MT), from

4.4 percent in January.

Pernia also said the government will play catch-up in terms of spending as the 2019 budget of P3.7 trillion was signed by President Duterte only on April 15.

As for the infrastructure projects that economic managers want to exempt from the election ban, Pernia said implementing agencies have already submitted their respective lists to the Commission on Elections.

He confirmed that the omnibus list submitted by economic managers was rejected.

“Well, they did not approve our omnibus list for exemption but they asked for a specific one in terms of priorities. We submitted the list on February 18 and they gave us an answer that we have to be more selective last March 29, exactly on the day the ban started,” Pernia said.

“So we had to ask the implementing agencies to give their list, the DPWH [Department of Public Works and highways] already had a list, so DOTr [Department of Transportation] and others have to come up with a shorter list,” he added.

Continued from A1

faster” than that of its peers and that its strong economic growth should continue as long as investment is maintained.

“The Philippine economy is among the fastest-growing economies in the world on a 10-year weighted average, per-capita basis—a reflection of its supportive policy dynamics and improving investment climate,” S&P said.

“The country has a relatively diversified economy with an increasingly strong track record of high and stable growth. We estimate GDP per capita will rise to almost $3,400 in 2019 [we include nonresident nationals in our population data]. We project GDP per-capita growth will average approximately 4.9 percent per year over 2019-2022, based on balanced contributions from private consumption and investment growth,” S&P said.

Positive government policies

THE optimism in the country’s economic dynamics has been attributed to the government’s efficiency to put in place economic policies in recent years.

S&P said the Philippine government is enacting “increasingly effective fiscal policies, marked by improvements to the

Mandated lending no more

FONACIER, however, emphasized that in promoting lending to more sustainable and green activities, mandated lending is not the answer.

The deputy governor said that while no one-size-fits-all approach is appropriate for sustainable financing across the world, a government-driven mandatory lending approach is a no-go for the Philippines.

She said that while requiring banks to put out loans to sustainable and ecological activities will bring immediate changes in the compliance rate of financial institutions, compelling banks to adapt is a short-lived solution to an ever-evolving and lingering issue to the country.

Focusing on mandated lending instead of

quality of expenditures, manageable fiscal deficits and low levels of general government indebtedness.”

“The government has so far achieved partial success with its Comprehensive Tax Reform Program. The program aims to ensure that finances remain sustainable while addressing the nation’s pressing infrastructure needs and chronic underinvestment,” S&P said.

“While we anticipate further measures to be adopted during the second half of President Rodrigo Duterte’s term, opposition to some components of the broader tax reform program has been intense,” it added.

Robust external position

S&P also lauded the Philippines’s ability to remain in a net external asset position, although current account deficits will gradually erode this strength over the medium term.

“Although the national government’s fiscal deficit breached 3 percent of GDP in 2018, general government deficits remain contained, averaging well below 3 percent of GDP through 2022. “With fiscal deficits still manageable, and against a backdrop of healthy nominal GDP growth, net general government indebtedness should remain low and stable. We believe general government deficits will remain roughly stable through 2022, when we forecast a shortfall of 2.4 percent of GDP,” it added. creating a holistic environment for banks to invest or lend in, according to Fonacier, will derail the progress toward sustainable finance, much like it did to the agri-agra mandated lending law where banks opt to pay penalties rather than expose themselves to credit risks by lending to the agricultural sector.

In 2017, the BSP and the International Finance Corporation (IFC) signed a memorandum of understanding covering activities that enhance capacities and raise ESG standards in the banking sector.

Just last year, the BAP said it recently convened with the Asean Bankers Association (ABA) and the Association of Banks in Singapore (ABS), and the WWF to discuss the role of financial institutions in pushing for green financing. Bianca Cuaresma

4,337 MT in 2013, and accelerated 52 percent in 2015 to 49,289 MT. It further expanded in 2016, this time by 19 percent, to 58,787 MT, before falling in 2017 by 29 percent to 42,029 MT. “It was observed that during the POI [period of investigation], imports of clear float and clear reflective glass showed an upward trend which is recent, sharp, sudden and significant,” the report read.

The volume of imported tinted float glass also leaped triple digits in 2014 and 2015, the report added.

Customs data showed imports of tinted float glass swelled 274 percent in 2014 to 22,431 MT, from 6,005 MT in 2013; and ballooned 127 percent in 2015 to 50,974 MT. However, imports slid 15 percent in 2016 to 43,255 MT, and dipped 2 percent in 2017 to 42,312 MT. “In 2016 it declined 7,719 MT, or 15 percent, and slightly declined by 2 percent in 2017. In 2017 an antidumping duty was imposed on bronze float glass from PROC [People’s Republic of China],” the report read.

The petition to apply safeguard measure was filed by Pioneer Float Glass Manufacturing Inc., the lone float glass maker in the Philippines, on the claim that it got seriously injured by the heightened import volume of float glass from 2013 to 2017.

Inflation. . .

Continued from A1

policy rate cut by the BSP, higher domestic demand due to the upcoming midterm elections and school enrollment, and higher electricity rates,” it added. As inflation continues to be on the downtrend in recent months after the 2018 inflation flare-up, some local economists are calling for a rate cut from the BSP to support the local growth dynamics.

In 2018, the BSP let out a series of rate hikes amounting to 175 basis points to control inflationary pressures. The higher interest rates of the BSP are expected to have an effect on the overall output of the economy for 2019.

“Moving forward, the BSP will continue to closely monitor evolving price trends and will undertake necessary measures toward its commitment to price stability,” the BSP said in its statement on Tuesday.

The BSP is expected to hold its next monetary policy-setting meeting on May 9, Thursday.

Bianca Cuaresma

DENR. . .

Continued from A8

are talking about people that even without an award, every day, work for the sustainable development of their communities and the biodiversity of their environment,” Gaveglia said in brief remarks on receiving the recognition.

He thanked the government partners working with UNDP—the Biodiversity Management Bureau, government agencies like the National Commission on Indigenous Peoples (NCIP), and Department of Trade and Industry, among others.

Mission: PHL is the first and only recognition awards for the Philippines’s best partners in development cooperation. It gives due recognition to the development efforts of countries as represented by their embassies, as well as bilateral and multilateral development aid partners.

Watch for the next round of Mission: PHL, the BusinessMirror Envoys&Expats Awards in 2021.

Read updates on Mission: PHL in B usiness M irror ’s Envoys&Expats Section.

Party-list groups ask SC to stop Meralco from collecting bill deposit

By Joel R. San Juan @jrsanjuan1573

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EVERAL party-list groups filed before the Supreme Court on Tuesday a petition seeking to stop Manila Electric Co. (Meralco), the country’s biggest power distributor, from imposing and collecting bill deposits from its customers, now estimated to have reached P29 billion as of 2018.

In a 36-page petition, petitioners led

by Bayan Muna Chairman Neri J. Colmenares and Party-list Rep. Carlos Isagani T. Zarate argued that the imposition of a bill deposit by public utility Meralco, against its captive market, is “illegal and contradicts its duty under its franchise to promote consumer interest.”

The petition was joined by Anakpawis Party-list Rep. Ariel B. Casilao, Gabriela Women’s Party-list Reps. Emerenciana A. de Jesus and Arlene D. Brosas, Act Teachers Party-list Reps. Antonio L. Tinio and Francisca L. Castro, Kabataan Partylist Rep. Sarah Jane I. Elago and Bagong Alyansang Makabayan Secretary-General Renato M. Reyes Jr. The petitioners asked the Court to declare as illegal and void the bill deposit provisions in the Magna Carta for Residential Electricity Consumers and was promulgated by the Energy Regulatory Commission (ERC) on June 17, 2004, which became Meralco’s basis for collecting the fee.

They also urged the SC to order the ERC to implement the refund of bill deposits to consumers.

The Magna Carta defines bill deposit as the deposit required from customers by distribution utilities of new or additional service equivalent to the estimated billing for one month to guarantee payment of bills.

However, the petitioners said the bill deposit provisions under the Magna Carta are not allowed under the Electric Power Industry Reform Act (Epira) of 2001 and the Meralco franchise.

Based on the Epira, the petitioners said Meralco, as a distribution utility, can only collect from its consumers distribution wheeling charges, connection fees and retail rate.

“Bill deposit, defined in the Magna Carta and elsewhere, as a mere guarantee for the payment of bills, obviously does not form part of retail rate. It is not a charge for any electric service, but rather an amount posted by consumers

for future or anticipated electric service that is not paid,” their petition read.

“By its nature as mere guarantee, it does not form part of retail rate, and as such, is not allowed exaction under the Epira,” it added.

The imposition of a bill deposit, according to the petitioners, does not promote the interest of the consumers but is only for the profit of distribution utilities.

The petitioners noted that the bill deposit is being commingled with Meralco’s general fund and being used for other purposes, including investments in financial instruments and operations-related taxes.

Commingling of funds, according to the petitioners, renders the bill deposit “vulnerable” to wrong business decisions and investments, mismanagement, miscalculation or risks, and legal cases which deplete the funds of Meralco, possibly affecting the latter’s capacity to refund the bill deposit to its consumers.

“All told, in this scheme of allowing the commingling and use of bill deposit

by Meralco, the consumers are exposed to all the dangers in the depletion of the totality of Meralco’s fund but enjoy none of the benefits of an investor should investments and other business decision result to increasing the Meralco’s fund and value,” the petition read. They added that Meralco is not giving back to its customer the interest rates actually earned by the bill deposits.

From what was originally a 10 percent interest rate per year, the petitioners said the ERC and Meralco have reduced the interest rate to just .25 percent per year, allowing Meralco to profit from the bill deposit, with a return of at least 14.97 percent.

“The interest rate that is refunded to the consumers for their bill deposit should be equal to whatever interest rates actually earned by Meralco from the said deposit,” the petitioners explained.

Thus, the petitioners said the Court should declare as illegal the commingling of bill deposit funds with Meralco’s general fund and order the ERC and Meralco to pay consumers the interest rate actually earned by the bill deposit.

They also asked the SC to order the Commission on Audit to conduct an audit of all the funds collected from the consumers since the imposition of the bill deposit requirement, the actual interest earned by Meralco from the same, the amount so far refunded to the consumers and the balance of the amount that have not been refunded.

Clark locators ask govt to craft development plan after quake

By Ashley Manabat Correspondent

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LARK FREEPORT—The chief of the Geology, Geophysics Research and Development Division of the Philippine Institute of Volcanology and Seismology (Phivolcs) said it is essential to determine where liquefaction occurred in view of the 6.1-magnitude earthquake that hit Luzon on April 22.

Dr. Arturo Daag made the pronouncement at the Balitaan media forum organized by the Capampangan in Media Inc. (Cami) in cooperation with the Clark Development Corp. (CDC) here last Friday.

He was joined by Dr. Irineo “Bong” Alvaro Jr., chairman of the Clark Investors and Locators Association (Cila).

Alvaro called for an immediate identification of buildable and non-buildable zones in this free port for the use of locators as he vowed to help the victims of the recent disaster.

“CDC should come up with master plan to inform Cila” Alvaro said. “Cila’s first activity is to come up with a technical map identifying these hazards. The quake was a wake-up call.”

Daag urged the CDC to immediately conduct an inspection in this free port on where liquefaction occurred.

“Historically, Clark has pyroclastic flows and lahar. Almost half of Clark has pyroclastic flow,” Daag said. “This was the reason for the decision of the United States Air Force to evacuate the whole of Clark because of the pyroclastic flows and lahar.”

Daag said even before 1990, Mount Pinatubo’s eruptions and lahar events made the ground sandy loose and soft. He said the ground is not compacted, and if the water table is shallow, liquefaction will occur.

“So, the problem will be, if you have a building that is not designed properly and if the soil is soft, the building will sink,” he said. Daag said buildings should strictly follow the standards set in the National Building Code of the Philippines and the National Structural Code of the Philippines (NSCP) to avoid any problems.

He said if the building is three stories

and higher, it should have bore holes and standard penetration tests (SPT) should be conducted to provide information on the properties of the soil.

“So, in case of liquefaction, the ground will soften, but the building will not be affected because it is anchored on solid ground,” Daag said. “Therefore, big buildings here should have borehole data or SPT. This is required by the NSCP especially if the building is big.”

“Because liquefaction can happen in sandy, loose and water-saturated ground like in Minalin, Guagua, Macabebe and even in Angeles and parts of Clark, but if the water table is deep, it may not liquefy,” he added.

Daag said there are many faults in Luzon, Visayas and Mindanao. He also noted that the epicenter of the Luzon quake is at the boundary of Castillejos, Zambales, and Porac, Pampanga.

Daag said the epicenter they plotted was at the end of the Porac-Gumain River in the Mount Quadrado area where aftershocks also occurred.

Alvaro observed that the 6.1-magnitude quake has an up-and-down shaking as well as sideways shaking as he was in front of the soon-to-open Mirej Hotel here at the time of the earthquake.

He said he was assured by structural engineers that Mirej Hotel, which will have a soft opening in October and grand opening in early December, can withstand up to a magnitude 9 earthquake.

Daag explained that the up-and-down shaking is caused by the proximity of Clark to the epicenter. It is the primary wave of an earthquake, which usually lasts seconds, while the sideways shaking is the secondary wave, he added.

“If you are near the epicenter, you will feel the up and down movement but if you are far, you won’t feel that anymore,”he said.

“Like in Manila, it was sideways only.”

“So, we have a national building code and national structural code which follows strict standards on acceleration on the design of buildings. If these are followed, there should be no problem,”Daag added.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Wednesday, May 1, 2019 A3

DOT adds more, longer close-out dates for cruise-ship visits to Boracay

By Ma. Stella F. Arnaldo

M

@akosistellaBM Special to the BusinessMirror

ORE close-out dates for cruise ships sailing to Boracay Island will be instituted by the Department of Tourism (DOT) for this year, and in 2020.

Tourism Secretary Bernadette Romulo Puyat said she will be “adding two long weekends” that will prohibit the port calls of cruise ships on Boracay. These will be during the Eid al-Fitr and National Heroes Day holidays in June and August, respectively.

“The problem with Eid al-Fitr is, it moves, because it depends on the moon. They only announce it a few days before [the actual date]. So I’ve been asking them [other members of the Boracay Inter-Agency Task Force (BIATF)] if we could block off [the close-out period] starting on May 31,” she said.

TheEidal-Fitrholidayissupposedto be held on June 3. The National Heroes Day, on the other hand, is on August 26, a Monday. “For sure, we Filipinos, when we find out there’s a long weekend, right away we book a flight then go,” the tourism chief asserted.

Romulo Puyat said, next year, the close-out period during Holy Week will likely be longer. “It will probably start the Saturday before Holy Week,” she said. This year, the Holy Week close-out period began on April 16,

Holy Tuesday, when there were already many local tourists arriving in Boracay. This became a sore point for local residents who complained that Chinese tourists inundated them the day before, because of a port call by the Royal Caribbean Cruise Lines’s MS Voyager, which carried 3,334 passengers. (See, “Cruise ships barred from visiting Boracay during peak tourist seasons,” in the BusinessMirror, April 25, 2019.)

“Nobody probably thought of [a longer close-out period for Holy Week] because normally, we work up to Wednesday. We didn’t realize, even the private-sector representative admitted, the close-out period should have started earlier, i.e., Saturday [before Holy Week]. There are things you realize upon implementation; the good thing is you learn from it.” The DOT chairs the cruise-ship assessment committee of the BIATF, and had included private stakeholders in its consultations on the guidelines for port calls.

Romulo Puyat said the committee had actually discussed the possibility

TOURISM Secretary Bernadette Romulo Puyat says “Filipino women can be empowered by introducing more meaningful job opportunities in the tourism industry, from micro entrepreneurship to the largescale industries.” She was keynote speaker on Tuesday’s Department of Tourisms (DOT) Jobs and Women Philippine Tourism Forum at the Philippine International Convention Center.

PHOTO COURTESY OF DOT

of totally closing off Boracay to cruise ships because of the identified carrying capacity of the island, which is 19,125 tourists at any given time. “But when we talked to the private sector, they told us there are times that there are no tourists, so the tricycle drivers, souvenir shops, etc. will have no income.”

She said the DOT will discuss the possibility of just allowing expedition ships, or those that carry just 200 to 300 passengers to visit Boracay. “We will discuss that with the private sector.” At present, cruise ships carry-

ing more than 2,000 passengers are prohibited from making port calls on Boracay, starting April 16, 2019.

Romulo Puyat spoke on Tuesday at the Jobs and Women Philippine Tourism Forum at the Philippine International Convention Center, where she outlined how women can further contribute to the growth of the local tourism industry. “True to the logic of today’s forum, Filipino women can be empowered by introducing more meaningful job opportunities in the tourism industry,

from micro entrepreneurship to the large-scale industries.”

Citing the United Nations World Tourism Organization, she said the majority of people employed in tourism worldwide, both in formal and informal jobs, are women.

She added, the “initiatives of the government translate directly to jobs available for women and opportunities for inclusive advancement of all. Promoting the role of women beyond the opportunities of employment, and moving to key positions

of policy and strategy that can steer the Philippine tourism industry into sustainability. The DOT continues to work toward a progressive and vibrant tourism industry that is inclusive and resilient.”

The DOT chief noted that on a regional level, the Philippines has played a central role in advancing the agenda of equality in Asean. The Philippines leads the Asean in its program on Gender Awareness and Development in Tourism. “We have recently finalized the Asean GAD Framework for Tourism, which aims to strengthen the gender institutional capacity of Asean member-states.

The said framework is patterned on our own strategy with the inclusion of key regional issues.

On a personal note, when asked by others “How do you earn the respect of men in the workplace?” Romulo Puyat averred: “As a woman, I believe it’s not about earning a man’s respect, that’s not the priority; it’s only a byproduct. The aim is to live a life that has purpose, and with the mindset that you work hard and do your best. When you have something great to offer the world, you’ll be surprised to find that it reaches out to you and opens doors, windows, and avenues, no matter the circumstance and hurdles thrown at you.”

According to the Philippine Statistics Authority and the International Labor Organization, there were 121,821 establishments in the accommodations and food services sector in 2017, about half of which are run by women.

A4 Wednesday, May 1, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Ceza clinches $3.9-B infra, manufacturing investments in China Belt and Road Forum

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By Elijah Felice E. Rosales

@alyasjah

HE Cagayan Economic Zone Authority (Ceza) has scored big in the Second Belt and Road Forum, as it secured $3.9 billion of Chinese investments on infrastructure and manufacturing projects.

In a news statement issued on Tuesday, Ceza Administrator and Chief Executive Officer Raul L. Lambino said his agency obtained $3.9 billion of Chinese commitments on the sidelines of the Second Belt and Road Forum last week.

The multibillion-dollar investments are made up of seven memorandums of understanding (MOU) and two letters of intent (LOI) on projects largely on infrastructure and manufacturing.

T he Cez a entered i nto a n MOU with Fong Zhi Enterprise Corp. for the establishment of a $2-billion smart city in Fuga Island, Aparri, patterned after its developing large infrastructure project in Fujian.

Further, Fong Zhi vowed to set up an agricultural breeding center and soi l-improvement project, build medical schools, promote tourism and establish an industrial park in the area. It

also inked a strategic cooperation agreement with Isla Fuga Pacific Resorts Inc. for the promotion of Fuga Island.

The Ceza also signed letter of intent (LOI) with Baoye Group Company Ltd. and Dingsheng Tiangong Construction Machinery Co. Ltd. for the development of global entertainment projects and an integrated resort, as well as shopping malls and golf course in the Cagayan economic zone.

Moreover, Shanghai Jucheng Supply Chain Group Co. Ltd. is eyeing to build a $150-million township and manufacturing plant for lithium batteries. On the other hand, Pai Hao Investment and Consultants Ltd. is looking to invest $500 million for the upgrade and expansion of the Lal-lo International Airport that will enable it to accommodate wide-bodied aircraft.

Chinese Shenzhen Dawah and Asparas Group Ltd. will enter into a joint venture for the establish-

ment of a marina, water-sports training center and private villas amounting to $100 million.

The Ceza also formalized its business deal with China Zhejiang Guannan Group for the development of a $500-million green textile production hub in the Cagayan economic zone. On the other hand, the investment-promotion agency entered into an agreement with Golden Millennial Quickpay Inc. for a $100-million financial technology center.

Meanwhile, Yatai International Corp. will acquire a property for its $500-million satellite city.

The Ceza, headed by Lambino, was part of the Philippine delegation that joined President Duterte in at the Second Belt and Road Forum in Beijing last week.

The Philippines bagged a total of $12.16 billion of investments and business deals, projected to generate 21,165 jobs, from China during the two day event.

Marina, DOE guarantee PHL compliance with 0.50% sulphur-emission cap by 2020

By Lorenz S. Marasigan @lorenzmarasigan

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HE Maritime Industry Authority (Marina) and the Department of Energy (DOE) have tied up to ensure that the Philippines will be compliant with the global sulphur cap of 0.50 percent in 2020, targeting to source and offer more eco-friendly fuels for Philippine-registered ships.

In a news statement, the maritime regulator said it has discussed with the energy depart-

ment and its stakeholders the specifications for the sulphur cap to prepare them for “possible challenges that may emerge due to the new regulation.”

T he globa l reg u lation, enshrined under the International Convention for the Prevention of Pollution from Ships (Marpol Convention), calls for all ships in non-emission control area zones to decrease sulphur content of fuels from 3.5 percent to 0.5 percent by January 2020.

The Philippines ratified this

convention in 2018, and is a state party to all annexes written in the Marpol Convention.

Marina Shipyards Regulation Service (SRS) Director Ramon Hernandez noted “stakeholder concerns such as the need for existing Philippine-registered vessels to undergo retrofitting to be able to utilize sustainable and ecofriendly fuels.”

He said the government assures stakeholders that it will formulate a comprehensive plan for the impending implementation of the

No Labor Day. . . continued from a1 They will skip this celebration, however, and

will instead join the Labor Day demonstration and simultaneous prayer among TUCP members in Metro Manila on Tuesday.

During the Labor Day celebration, Labor Secretary Silvestre H. Bello III will sign the Implementing Rules and Regulation of the Expanded Maternity Law and the joint issuance to restrict the work permit issuance for foreigners.

The main event will be the groundbreaking of the overseas Filipino worker (OFW) Hospital in Pampanga, to be graced by Duterte.

Tight security

THE Philippine National Police (PNP) is expected to intensify security nationwide as labor groups hold their traditional nationwide simultaneous Labor Day rallies in major cities of Metro Manila, Cebu, Iloilo, Davao and General Santos.

In a press conference on Monday, Nagkaisa said about 12,000 of its members will participate in the demonstration in the National Capital Region (NCR) alone, while Kilusang Mayo Uno (KMU) said it will mobilize 30,000 members in the region.

PNP warned the public against joining this year’s Labor Day protests after it got reports that suspected members of the New People’s Army will infiltrate the ralliers’ ranks. KMU disputed the PNP claim, stressing that its demonstration with Nagkaisa only aims to push for labor-related reforms.

During the event, KMU Chairman Elmer C. Labog said they will be pushing for higher wages for workers and the elimination of illegal contractualization with the passage of the Security of Tenure

Bill (SOT), which remains pending in the Senate.

Grace period

TUCP Party-list Rep. Raymond Mendoza said time is running out for the passage of the SOT since the 17th Congress will soon be ending its session.

The president of TUCP said there will only be nine remaining days left on May 20 before the 17th Congress officially ends its sessions. If that happens, the SOT bill would have to be refiled.

“This has been going on since the 12th Congress.... Hopefully, it will be passed before we adjourn on May 20,” Mendoza said.

Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro) Secretary-General Joshua Mata said the bill can be passed if Duterte will intervene.

Currently, the bill is still in the period of amendments and has not hurdled second reading.

Since the bill was certified urgent by Duterte, it now only has to reach second reading before it finally goes to the bicameral committee.

Mata said Duterte could compel his allies to fasttrack the passage of the SOT bill by just adopting the House version.

“We know this government is big on political will.

If the President wants it to happen, it will happen,” Mata said. “It can be done if they want to. It will not take them three days to do that,” he added.

P600 proposal

A LAWMAKER on Tuesday urged the DOLE to study the proposal raising the nationwide minimum wage to P600.

Deputy Majority Leader Rep. Ron Salo said now is the time to increase the minimum daily wage across all regions to make workers feel the country’s economic growth.

According to him, the income disparity of minimum-wage earners is a primary reason why the people in the countryside flock to the cities, particularly in Metro Manila, in order to seek higher wages.

“It is time for the wage boards to make workers gain from the economic growth across the country, especially in the countryside,” said Salo, author of House Bill (HB) 7527 raising the minimum wage to P600.

Salo said the prevailing inequality and disparity in minimum wage levels of the different regions in the country is unfair

global sulphur cap “by identifying other alternative sources of eco-friendly and affordable fuels, among others.”

The two government agencies will likewise meet with the Department of Finance (DOF), the National Economic and Development Author it y (Neda), and the Department of Environment and Natural Resources (DENR) for further collaboration to ensure that the Philippines will be able to comply with the Mar pol Convention.

to workers in the countryside.

“Our workers perform the same service wherever they’re located, and yet, we pay them different minimum wages,” Salo said.

Salo also said that government employees are paid equally regardless of their area of assignment—whether they are in Metro Manila or in the far-flung provinces.

“What makes the difference in the pay among our government employees is the degree of responsibility and functions assigned to the employee, and not the place of assignment. And yet, for our workers in the private sector, their minimum wages are simply determined by the place or area where they work,” Salo said.

HB 7527 seeks to set a national minimum wage of P600. On top of this national minimum wage, the existing National Wages Productivity Commission (NWPC) and the Regional Tripartite Wages and Productivity Boards shall determine incentives and other productivity improvements to the wage earners within a region when still necessary.

‘Endgame’ to ‘Endo’

A DAY before the celebration of International Labor Day, Akbayan Sen. Risa Hontiveros called on her peers to set an “endgame” to the country’s labor contractualization policy. “It’s time to end labor contractualization. It’s time to pass the Security of Tenure Bill. If the Avengers has an “endgame,” we must also have an “endgame for Endo,” Hontiveros said, drawing a parallelism with the Hollywood blockbuster film, Avengers.

“It’s time that the government avenge the Filipino workers for this unjust and inhumane labor policy,” Hontiveros added, referring to the term (“Endo” for end of contract) loosely used to connote any labor arrangement that does not guarantee security of tenure.

Hontiveros, who chairs the Senate Committee on Women, said the proposed SOT Bill will protect workers from unscrupulous and discriminatory contracting and subcontracting, and strengthen the security of tenure of workers.

She said the measure will help close the gender gap in the labor sector. Citing data from the International Labor Organization, Hontiveros said women in several Asean countries, including the Philippines, tend to have a bigger share of vulnerable employment than men.

Hontiveros, who is also the vice chairman of the Senate Committee on Health, said labor contractualization is also a public health risk to many Filipino workers, who are “forced to endure precarious working conditions and pay for their own health expenses when they get sick or injured at work.”

With Jovee Marie N. dela Cruz, Butch Fernandez

www.businessmirror.com.ph

Lawmaker prods DepEd, CHED to host fairs, online portal for young job seekers

By Jovee Marie N. Dela Cruz @joveemarie

A

LAWMAKER on Tuesday urged the Department of Education (DepEd) and Commission on Higher Education (CHED) to host jobs fairs and an online jobsapplication portal, as 1.3 million senior high schools and college graduates are expected to enter the labor force this summer.

1-Ang Edukasyon Party-list Rep. Bong Belaro said the DepEd and CHED should have their own jobs portal where employers can find the résumés and electronic copies of student diplomas and transcripts of record.

Belaro said the portal should also be a one-stop online shop for signing up with Social Security System, PhilHealth and Bureau of Internal Revenue, as well as for getting clearances from the National Bureau of Investigation and Philippine National Police.

“DepEd and CHED should make the school-to-work and school-toentrepreneurship transition easier for the graduates by having job fairs in every senior high school and colleges, as well as having the graduates’ jobs application portal fully operational,” Belaro said.

“Two of the last things students should accomplish before gradu-

ation are their résumé and application cover letter. These should then be uploaded to the jobs application portal where prospective employers can choose the graduates to invite for job screening,” Belaro added.

Belaro also said that if the DepEd and CHED cannot do it by themselves, then may able to hire a private firm on a build-operate-transfer arrangement.

Belaro asked his fellow lawmakers to pass House Bill 1442 or the proposed Job Fair Act, which seeks to institutionalize the conduct of job fairs in all schools all over the country and to strengthen the capacity of schools to do so.

Under the bill, all colleges and universities as well as technicalvocational schools are mandated to hold a job fair at least once a year.

In the job fair, the measure said the concerned college or university will invite all prospective employers from the locality where the school is located and elsewhere to scout for possible future employees from their graduating crop of students for that year.

In the same manner, all schools offering senior high schools are also mandated to hold such job fair at least once a year for the graduations senior class.

Caritas Manila. . . continued from a1

The Caritas Go Bag is a knapsack filled with essentials that one would need in case of emergency: a first aid kit with iodine, alcohol, cotton balls, gauze bandage, paracetamol, paracetamol syrup and water purifying tables. It also includes a hygiene kit with underwear for both men and women, feminine hygiene products, bath soap, shampoo and toilet paper. Additionally, the Go Bag has an 18 meter nylon rope, duct tape, gloves, a solar lamp with radio, and a whistle that is attached to a compass and flashlight. There is also a mosquito net in order to be prepared for an evacuation scenario and a waterproof envelope for documents. As Caritas is the social arm of the Catholic Church, the Go Bag also comes with a rosary.

For those with no time to prepare their own emergency bags, Caritas is also offering individual Go Bags for sale at P2,500 for an individual Go Bag and P4,400 for a family pack.

Caritas also welcomes purchases of the Go Bags that will be given as donations to various Caritas underprivileged dioceses or community beneficiaries.

Disaster preparedness as CSR

CARITAS Manila, meanwhile, encouraged employers to purchase Go Bags or, at least, prepare emergency bags for their employees.

“Make the safety of your employees your immediate corporate social responsibility,” Pascual said.

“Also make sure to orient them in what to do in case of an earthquake and have a Go Bag ready for each of them.” This, Pascual added, also ap-

ATI. . . continued from a1 Secretary Arthur P. Tugade and Finance Secretary Carlos Dominguez III, representing Philippine President Duterte.

“Through ATI, DP World is delighted to help enable trade in the Philippines. This is our contribution to the Build-Build-Build program of the government as we work together to drive growth, stimulate trade, and create jobs through modern ports and logistics facilities,” Sultan Ahmed bin Sulayem said.

Dominguez and Tugade also commended ATI’s latest investment worth over P2.5 billion, which sup-

plies to families, who should make sure that they have Go Bags ready for all family members, including their household staff of kasambahay.

A side f rom prepa r i ng Go Bags, Caritas Manila has been educating communities of the parishes in various archdioceses in the Philippines on what to do before, during and after emergencies, such as earthquakes, fires, typhoons and floods. Pascual said Caritas volunteers from parishes in the Archdiocese of Manila, Cubao and Pasig have also been participating in MMDA’s Elsaroc (Earthquake, Landslide, Search and Rescue Orientation Course) since March 2019.

Pray and be prepared

MORE than 25 earthquakes have been registered in various parts of the Philippines by the Phivolcs since April 22, Monday, ranging in magnitude from 3.1 in Agusan del Norte to 6.1 in Zambales and 6.5 in Eastern Samar.

On Saturday, April 27, another five earthquakes struck off Surigao del Norte, with tremors ranging from 3.9 to 5. On Sunday, April 28, at 7:31 a.m., another magnitude 4.0 earthquake struck Surigao del Norte.

For its part, the Roman Catholic Archdiocese of Manila has encouraged everyone to pray that the Philippines be spared from further earthquakes, and shared the Prayer in Time of Earthquake on its Instagram page @rcamaoc.

“Let us continue to be vigilant and pray that our country be spared from calamities,” Pascual said. “But let us also be prepared.”

ports government’s thrust for sustainable and inclusive growth.

“This is a momentous day for the country’s progress and a big step forward for our economy’s emergence. BCT provides an alternative gateway for our rapidly expanding trade which will power our nation’s progress for decades to come,” Dominguez said.

Also at the event were Philippine Ports Authority general manager Jay Santiago, Customs commissioner Rey Guerrero and Philippine Export Zone Authority (Peza) head Charito Plaza.

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

The World BusinessMirror

US, Chinese representatives resume trade negotiations

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ASHINGTON— Treasury Secretary Steven Mnuchin says he and other negotiators for the Trump administration should know this week or next whether they can reach a trade deal with China—or whether it’s time to “move on.”

Mnuchin and Trade Representative Robert Lighthizer are traveling to Beijing to resume talks on Tuesday to try to end a yearlong trade war between the world’s two largest economies. A Chinese team is scheduled to visit Washington next week for another round of talks.

“We hope within the next two rounds of [talks] in China and in D.C. to be at the point where we can either recommend to the president we have a deal or make a recommendation we don’t,” Mnuchin told

Fox Business Network on Monday. “There is a strong desire for both sides to see if we can wrap this up or move on.”

The two sides are locked in a standoff over the Trump administration’s charges that Beijing steals technology and forces foreign companies operating in China to hand over trade secrets. China is pushing to make its companies world leaders in advanced industries like robotics and artificial intelligence.

President Donald J. Trump has imposed tariffs

on $250 billion in Chinese imports; Beijing has retaliated by taxing $110 billion in US goods.

During their previous rounds of trade talks, Mnuchin said the two sides have “made a lot of progress,” but “we still have more work to do.”

The negotiators are still discussing how to ensure that Beijing would adhere to whatever commitments it makes, as well as whether the Trump administration would keep tariffs on Chinese imports to maintain leverage over Beijing. Mnuchin told Fox Business Network that an enforcement mechanism just “needs a little bit of fine tuning.”

US officials and businesses assert that China has failed to keep past promises concerning its trade practices.

“We are at a pivotal moment in these negotiations, with a real chance to hammer out a strong, enforceable bilateral trade agreement,” said Linda Dempsey, vice

president of international economic affairs at the National Association of Manufacturers.

American manufacturers, she said, “need a robust final deal to ensure they can compete on a level playing field.”

Trump also wants to narrow America’s huge trade deficit with China—$379 billion last year—by pressing Beijing to agree to accept more US exports. But critics worry that any agreement would come at the expense of other countries that do business with China. Or that US companies might receive preferential access to China and marginalize the World Trade Organization (WTO), which is meant to enforce global free trade rule for everybody.

“It clearly undermines the WTO,” said Mary Lovely, a Syracuse University economist. “The two bullies in the room are basically running the show.

The rest of the world is going to have to deal with the aftermath.” AP

BOEING C.E.O. DEFENDS SAFETY RECORD AMID 2 DEADLY CRASHES

EMPEROR AKIHITO BEGINS ABDICATION RITUALS AS JAPAN MARKS END OF ERA

HE CEO of Boeing defended the company’s safety record and declined to take any more than partial blame for two deadly crashes of its best-selling plane even while saying on Monday that the company has nearly finished an update that “will make the airplane even safer.”

Chairman and CEO Dennis Muilenburg took reporters’ questions for the first time since accidents involving the Boeing 737 Max in Indonesia and Ethiopia killed 346 people and plunged Boeing into its deepest crisis in years.

Muilenburg said that Boeing followed the same design and certification process it has always used to build safe planes, and he denied that the Max was rushed to market.

“As in most accidents, there are a chain of events that occurred,” he said, referring to the Lion Air crash on October 29 and the March 10 crash of an Ethiopian Airlines Max. “It’s not correct to attribute that to any single item.”

The CEO said Boeing provided steps that should be taken in response to problems like those encountered by pilots of the planes that crashed. “In some cases those procedures were not completely followed,” he said.

The news conference, held after Boeing’s annual meeting in Chicago, came as new questions have arisen around the Max, which has been grounded worldwide since mid-March.

Southwest Airlines said over the weekend that Boeing did not disclose that a feature on the 737—an indicator to warn pilots about the kind of sensor failures that occurred in both accidents— was turned off on the Max. Southwest said it found out only after the first crash of the Lion Air Max. Boeing said the feature only worked if airlines bought a related one that’s optional, and in any case the plane could fly safely without it.

Separately, published reports

OKYO—Emperor Akihito began his abdication rituals at a Shinto shrine on Tuesday morning as Japan embraces the end of his reign with reminiscence and hope for a new era.

Television images showed Akihito in a traditional robe entering the main Shrine of Kashikodokoro to report his retirement to the gods. The shrine is where the goddess Amaterasu, said to be the direct ancestress of the imperial family, is enshrined. Only part of Akihito’s shrine ritual was released to the public.

In a palace ceremony later in the day, Akihito will announce his retirement before other members of the royal family and top government officials. His reign runs through midnight when his son Crown Prince Naruhito becomes new emperor and his era begins.

Naruhito will ascend the Chrysanthemum throne on Wednesday. In a separate ceremony, he will inherit the Imperial regalia of sword and jewel, as well as Imperial seals as proof of his succession as the nation’s 126th emperor, according to the palace count, which historians say could include mythical figures until around the fifth century.

Hours before the abdication ceremony, many people were gathering outside the palace compound despite unseasonably wet and cold weather, and even though they are not allowed to look inside.

“We came because today is the last day of [the emperor’s era of] Heisei, and we feel nostalgic,” said Akemi Yamauchi, 55, standing outside the palace with her husband.

“We like the current emperor.

He has worked hard for the people, he is very thoughtful, and kind to everyone,” said her husband, Kaname. The couple came from Kyoto, Japan’s ancient capital where emperors lived until about 150 years ago.

Messages have come from global leaders. AP

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said that federal regulators and congressional investigators are examining safety allegations relating to the Max that were raised by about a dozen purported whistle-blowers.

The Boeing event occurred on the same day that the Federal Aviation Administration convened a weeklong meeting in Seattle of aviation regulators from around the world to review the FAA’s certification of MCAS, a key flightcontrol system on the Max. A spokesman said the FAA will share its technical knowledge with other regulators, but their approval is not needed before the plane resumes flying in the US. Boeing has conceded that in both accidents, MCAS was triggered by faulty readings from a single sensor and pushed the planes’ noses down. Pilots were unable to control the planes although the Ethiopian Airlines crew followed some of the steps that Boeing recommended to recover.

Muilenburg told shareholders that Boeing is close to completing an upgrade to flight software on the Max “that will ensure accidents like these never happen again.”

In the brief news conference that followed, Muilenburg took six questions from reporters, including whether he will resign—he has no intention of doing that—and left as reporters persisted, including one who pointed to the deaths of 346 people and urged the CEO to take more questions.

Besides the software update, Boeing will present the FAA with a plan for training pilots on changes to MCAS. The company is pushing for training that can be done on tablet computers and, if airlines want to offer it, additional time in flight simulators when pilots are due for periodic retraining.

A requirement for training in simulators would further delay the return of the Max because of relatively small number of flight

simulators.

The union for American Airlines pilots wants mandatory additional training including, at a minimum, video demonstrations showing pilots how to respond to failures of systems on the plane. Dennis Tajer, a 737 pilot and union spokesman, said Boeing and the FAA must require more training rather than leaving the option to airlines.

“Not every pilot that goes out there and flies is a Boeing test pilot,” Tajer said. “If something happens anywhere in the world, it affects all of us.”

During the one-hour annual meeting, shareholders elected all 13 company-backed board nominees, including newcomer Nikki Haley, the former South Carolina governor who lobbied for a Boeing plant there, and former US ambassador to the United Nations.

Several shareholder resolutions were defeated, including one to name an independent chairman whenever possible instead of letting the CEO hold both jobs. It got 34 percent support.

A chairman-CEO “is not always a bad thing, but at times of crisis it’s hardly ever a good idea,” said Matt Brubaker, CEO of business-strategy consultant FMG Leading, who was not involved in the debate. “The place they are in now, they need the scrutiny of an inwardly focused CEO to drive change.”

Muilenburg opened Monday’s meeting with a moment of silence for victims of the two crashes.

Later that day, lawyers for two Canadian families who lost relatives in the Ethiopian Airlines crash filed the latest in a growing number of lawsuits against Boeing, claiming the plane maker was negligent about safety.

Hiral Vaidya, whose in-laws and four other family members died in the crash, said there were no remains left to cremate.

“We have no closure, we have no peace, we have no answer,” she said, fighting back tears. AP

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Wednesday, May 1, 2019

A5

A6 Wednesday, May 1, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Benefits for PHL’s disadvantaged workers

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HOUSANDS of Filipino workers still face an uncertain future a hundred years after those who came before them have fought for and secured better wages, benefits and working conditions. Millions of Filipino workers still do not enjoy good wages, have little to no benefits (such as hazard pay), and will have to endure hardship until their last breath because they are not entitled to any pension benefits. With food production becoming more and more challenging due to climate change, farm workers are left with no other recourse but to seek greener pastures anywhere. Most of those looking for better opportunities have no choice but leave the agriculture sector.

Agricultural workers, such as the sacadas in sugar farms, are leaving the sector in droves and no one can blame them. These workers have either migrated to urban areas, where they joined the ranks of informal settlers, joined the services sector or became construction workers under the government’s “Build, Build, Build” program. Compared to waiting for months for contract work in farms, getting a daily wage is a better alternative for them than enduring backbreaking work for little pay.

Others, however, are not so lucky because of their lack of education.

Even household helpers in the Philippines are expected to have at least reached high school. Construction workers are also required to have a high-school diploma. Some companies require aspirants for menial jobs to have at least finished their sophomore year in college. Computer literacy is a must for those who are seeking office-based work.

The proposed creation of a pension for farmers, fishermen and farm workers would be a good development if approved by Congress (See, “Congress urged to pass bill creating pension fund for farmers, fishermen,” in the BusinessMirror, April 26, 2019). But the government should not stop at creating the pension fund for these workers.

They must also have access to the services of the Social Security System and the Philippine Health Insurance Corp. Bona fide agricultural workers who want to put up small businesses such as sari-sari stores or food carts should also be able to tap micro loans. To supplement their income, rural workers must be given priority in government projects such as the rehabilitation of irrigation canals, among others.

The government must seriously consider these measures if it wants to reduce the poverty rate in rural areas where most of the poor reside.

The latest available data from the Philippine Statistics Authority (PSA) indicate that the government has a long way to go in making a dent in its poverty-reduction efforts in the rural areas. In a survey it conducted in 2015, the PSA said farmers and fishermen consistently posted the highest poverty incidence among the sectors it monitored. Poverty incidence among farmers and fishermen was higher than the national rate, at 34.3 percent and 34 percent, respectively.

It is not difficult to see that a serious effort to cut poverty rate would require more focus on farmers, fishermen and other agricultural workers.

There is no legacy that the President and his men can leave behind better than a successful effort to uplift the lives of the people who produce food for millions of Filipino families. It’s about time our poor farmers, fishermen and other disadvantaged workers get rewarded for their labor. It’s about time we recognize that small farmers and fishermen can have a big impact on the country’s food security.

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Connie’s story Susan V. Ople

SCRIBBLES

S

HE couldn’t breathe.

Her Kuwaiti employer had a pillow pressed down on her face, muffling her pleas for help. Connie thought she was going to die. Then, suddenly, the lady employer released the pressure and walked away.

Concepcion Galvez recounted to me her ordeal as a domestic worker in Kuwait—the relentless insults, physical abuse and all forms of maltreatment that she had to endure during her one-year stay at her employer’s house.

“She threw plates at me, and sometimes she would hit me on the side of my head. She was always angry at me and seems to take pleasure in seeing me suffer,” Connie said in a quiet voice, tears rolling down her cheeks.

On top of it all, her employers failed to pay her monthly wages for 10 months. Frightened for her life, the Filipino domestic worker sought the help of her recruitment agency.

Her agency told her to stick it out for the duration of the two-year contract. Her family approached the Blas F. Ople Policy Center for help and we took on the case, seeking the

Philippine Embassy’s intervention to enable the distressed worker to come home.

Back in the loving care of her family, Connie decided to pursue a case against her recruitment agency. She filed a claim for damages and back wages before the National Labor Relations Commission. The case involved charges of illegal dismissal, refund of airfare, payment of the unexpired portion of the contract and other claims.

During the mandatory conciliation conference, only the complainant appeared, and when the parties were ordered to submit their position papers, only Connie complied.

Executive Labor Arbiter Reynaldo Abdon ruled in favor of the complainant, saying that she was constructively dismissed from her contractual deployment. He also directed the respondents (GreatWorld

International Management and Fauzia Abdullah Al Habib) to pay the complainant’s unexpired portion of the contract as well as the withheld salaries of the complainant. Moral and exemplary damages were also awarded to Connie.

Though she has yet to collect her hefty award based on the NLRC decision, Connie has shown remarkable courage in fighting for her rights.

The trauma that she experienced in Kuwait remains deep, though her physical scars have faded. But the favorable decision has given her hope, and she has begun thinking of her future in a much brighter light.

This Labor Day, we think about all our modern-day heroes, especially those in vulnerable occupations.

We also pay homage to our local workers—from the street sweeper to the barangay health worker, to service crews and baristas, and everyone with a boss and a salary to get by on. We think of them and we thank them all because they fuel our economy with their sweat, talents and skills.

As a labor advocate, I worry that there are more “Connies” out there.

Based on data, we are sending more domestic workers overseas than professionals. The demand for our domestic workers is bulletproof; for no matter the state of the global economy, they remain in high demand especially in the Middle East.

The deployment of domestic workers to the Middle East is a lucrative

business for both foreign and local recruitment agencies with service fees reaching beyond a thousand dollars per maid. In exchange for such a huge investment, some foreign employers look at women like Connie as their private property.

This Labor Day, let us resolve as a nation to do everything possible to keep as many women workers as we can employed locally. We can’t afford to send out more women to diabolical employers who see nothing wrong with suffocating their domestic workers with a pillow. Connie could be easily someone else we know—a relative or a family friend or a daughter of a coworker—working as a slave beyond our borders.

And for the recruitment agencies that are engaged in the deployment of our domestic workers, please go the extra mile in checking on the quality of your employers. That is not just your legal obligation under POEA rules and regulations but also your patriotic duty given the business that you chose to be in. I know that there are several recruitment agencies that really look out for the interest of their workers. There are some, a diabolical few, who keep collecting service fees without determining the quality of both the domestic worker to be deployed and the foreign employer that would be taking her in.

Much work has to be done to ensure swifter sanctions on those who conspire to treat our workers as slaves, whether here or overseas.

Palestinians won’t like Trump’s ‘Deal of the Century’

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By Zev Chafets | Bloomberg Opinion

AST week, Israeli Prime Minister Netanyahu announced that Israel will be naming a town on the Golan Heights after Donald Trump. This suggests Netanyahu knows exactly what is in Trump’s “Deal of the Century,” scheduled to be unveiled in June, and that he enthusiastically approves.

The Palestinian leaders also know what’s in the plan (or what’s not in it). So far, they are in a public state of denial. Last week, in Ramallah, Palestinian Prime Minister Mohammed Shtayyah told Sen. Mitt Romney that he will not engage “in any political process that does not meet the minimum of Palestinian rights, which include an independent and sovereign Palestinian state along 1967 borders with Jerusalem as its capital and a just resolution to the refugees issue.”

Shtayyah invoked international decisions and signed agreements (meaning United Nations resolutions and the 1993 Oslo Accords) to bolster his position.

These talking points are not new, but these days they are irrelevant.

The Trump Deal is not just another diplomatic effort at “peace processing.” It is a recognition that the Hundred Years War between the Jews and Arabs in Palestine is over. The PLO

leadership will be presented with a document of surrender, on what amounts to a take-it-or-leave it basis.

The Palestinian leadership has very little leverage. A refusal to engage, as Shtayyah threatens, will be an invitation to the US and Israel to unilaterally establish a new order in the West Bank.

Some Palestinian leaders hope to do nothing, outwait Trump and perhaps get a less pro-Israel president in 2020. But this administration has at least two years, and perhaps six, to establish irreversible facts. And that, according to one of its most senior officials, is exactly what it intends to do.

Another option is appealing to international organizations like the United Nations, the International Criminal Court or the European Union. These appeals will be met with sympathy, resolutions, declarations and diplomatic posturing, but not more. The Palestinian leadership knows this from experience.

Once, Palestinians could count on Israeli supporters of the Oslo Accords and its two-state solution.

But the Second Intifada, the Arab Spring and the example of the quasistate of Gaza have discredited Oslo’s solutions and debilitated the Israeli “peace camp.”

In the recent Knesset elections, political parties favoring a two-state solution got barely 15 percent of the vote. Netanyahu’s new government will have more than enough support for unilateral, American-backed moves and very little trouble with its parliamentary opposition.

The Palestinians can’t expect help from their fellow Arabs. This was recently demonstrated by the faint response of the Arab League (and the Arab street) to the establishment of the US embassy in Jerusalem—long supposed to be the third rail of Arab political sensitivity. The two most important Arab countries, Saudi Arabia and Egypt, will certainly proclaim their opposition to the Trump Plan.

They will even more certainly do nothing to weaken their ties to the US. Palestinian officials often warn that too much pressure will bring about a third, even more violent intifada. Some fantasize that Hezbollah will support it with a ballistic jihad on Israeli civilians. But Sheikh Nasrallah,

Hezbollah’s leader, who has spent the last decade living in an underground bunker, is not a man with a death wish. In any case, his Iranian patrons, under increasingly effective US economic sanctions, won’t be willing to finance such an adventure.

If the Palestinians decide to fight, they will fight alone. Israel is now incomparably better prepared for this than it was 20 years ago. It will put down an uprising with efficient force and use it as a rationale for stricter security measures.

From the Palestinian point of view, this is a depressing set of options. But there is another choice.

They can accept reality, sit down at the table and bargain for the best possible terms.

Israel’s bottom lines are clear.

The PLO will have to renounce the “right of return, formally accept Israel as a Jewish State and end its internal incitement and international propaganda warfare. It will also have to agree to the permanence and legitimacy of Israeli settlement within limited areas of the West Bank and reconcile itself to Israeli sovereignty in East Jerusalem. These demands may be “outrageous” and “unjust” as Palestinian officials insist, but they are See “Chafets,” A7

www.businessmirror.com.ph

Opinion

Taxability of election contribution

A search for a supervisory framework: The risk-based supervision

BusinessMirror

Atty. Jose Emilio M. Teves

Atty. Dennis B. Funa

INSURANCE FORUM

TAX LAW FOR BUSINESS

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HE May 2019 elections are fast approaching. People everywhere, from radio blurbs to posts on social media, are showing support for their respective candidates.

The most tangible way to support a candidate is to give a donation. Normally, when a person gives a donation to another individual or entity, he shall be subject to donor’s tax. However, contributions given to candidates or political parties will not be subject to donor’s tax.

This is provided under the Omnibus Election Code (OEC) and Republic Act 7166.

The Omnibus Election Code further clarifies that only donations that were spent during the campaign period would be exempt from donor’s tax. Thus, donations used before or after the campaign period would be subject to donor’s tax.

This principle is reiterated in Revenue Memorandum Circular 31-2019, issued by the Bureau of Internal Revenue. The RMC notes that only donations or contributions that have been utilized or spent during the campaign period as set by the Comelec shall be exempt from donor’s tax. Donations utilized before or after the campaign period are subject to donor’s tax and not deductible as political contribution on the part of the donor.

The laws and issuances are harmonized for a consistent interpretation for campaign donations. These laws must be read with the changes made by the Corporation Code for campaign contributions.

In the old version of the Corporation Code, there is an express prohibition for corporations, domestic and foreign, to give donations in aid of any political party or candidate or for purposes of partisan political activity. The old Code reads: “No corporation, domestic or foreign, shall give donations in aid of any political party or candidate or for purposes of partisan political activity.”

However, as of 2019, the New Corporation Code has modified the prohibition. Now, the prohibition applies only to foreign corporations, as they have changed the phrasing to read: “…that no foreign corporation shall give donations in aid of any political candidate or candidate

for the purpose of partisan political activity.”

It would seem, therefore, that domestic corporations can donate to a political party, or candidate, for the purpose of a partisan political activity. Partisan political activities, broadly defined, are “acts designed to have a candidate elected or not or promote the candidacy of a person or persons to a public office.”

It appears that domestic corporations can support candidates during the campaign period. However, as stated earlier, the donation shall be tax exempt only if the donation occurs during the campaign period.

While corporations can promote a candidate before the campaign period, the same will be subject to donor’s tax. Likewise, contributions received or utilized after the campaign period will also be taxed.

However, the Omnibus Election Code provides that there are contributions made by juridical entities, like corporations, which are considered prohibited. Specifically, these are public or private financial institutions, juridical entities operating a public utility or exploiting a natural resource, juridical entities that have contracts with the government to provide goods or services, juridical entities with a franchise or incentive or similar privilege granted by the government, juridical entities granted loans or accommodations in excess of P100,000. Thus, if the domestic corporation does not fall within the prohibition, then it is free to make a donation to the political candidate or party.

The author is a senior associate of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at josemilio. teves@bdblaw.com.ph or call 403-2001 local 320.

What is Russian President Vladimir Putin afraid of?

By Eli Lake | Bloomberg Opinion

B

Y all outward appearances, Vladimir Putin’s hold on power seems secure.

His party won the 2018 elections with 77 percent of the vote. He has consolidated his control of the Russian media.

Most of his rivals have either died or been driven into exile. Now he can deploy his country’s wealthiest oligarchs to pursue the Kremlin’s agenda—just as he did after US President Donald J. Trump won the 2016 election.

So why is the Russian president so scared?

One might think an autocrat who has rigged his nation’s political rules to stay in power would have little to fear from dissidents. Allowing a nominal opposition might even have benefits, such as relieving economic pressure from the US and its allies in the West and making it easier for his henchmen to spend their fortunes.

Nevertheless, Putin remains afraid of dissent. Consider a report released this week by the Coalition to Free the Kremlin’s Political Prisoners. Composed of a dozen Western and Russian nongovernmental organizations, the group found that as of March 25, Russian jails held 236 political prisoners. That is more than five times the

political prisoners Russia held in 2015, when the total was just 46.

At a press conference on Monday, exiled opposition leader Vladimir KaraMurza provided yet more perspective for that figure. When the famous physicist and dissident Andrei Sakharov won the Nobel Peace Prize in 1975, he claimed the Soviet Union held 176 prisoners of conscience. It’s extraordinary to think that today, nearly 30 years after the collapse of the Soviet Union, Russia holds one-third more.

Today’s Russian political prisoners include journalists, activists and lawyers.

Some are falsely charged with serious crimes such as murder and embezzlement. Others are in jail for their tweets.

In November 2017, for example, Yan Sidorov and Vladislav Mordasov were arrested for trying to organize a protest of their regional government. They have been in custody ever since, and the report says Mordasov has suffered multiple beatings. There is also the case of Oleg Sentsov, a Ukrainian filmmaker and critic of Russia’s annexation of Crimea.

He was sentenced to prison for allegedly plotting terrorist attacks and belonging to a Ukrainian nationalist group, an affiliation denied by the group itself. He confessed to those crimes after being tortured, according to several humanrights groups.

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HE Office of Technical Assistance (OTA) of the US Department of Treasury, in a project that started in 2017, has granted the Insurance Commission technical assistance for the possible adoption of risk-based supervision in the Philippines. The US resident insurance advisor in the Philippines is Russell Lamb.

Insurance supervision in the Philippines has traditionally been a compliance-based (or rules-based) supervision. Meaning, insurers must comply with a set of prudential rules generally written into the law or the subordinate legislation, which, in the case of the Philippines, are the rules and regulations called circular letters. Noncompliance with these rules, requirements and directives are met with penalties. Recently, however, with a series of financial and regulatory failures around the world in mind, a “relatively new approach in insurance supervision” called risk-based supervision (RBS) has emerged with its roots emanating from the banking and pension supervision. In Asia, the Hong Kong Monetary Authority, for example, adopts this in the regulation of the banking industry. It probably started in the 1990s. In the US, the Office of the Comptroller of the Currency introduced a “risk-based approach” to supervision in 1996.

RBS has been described as an “innovation” in financial regulation and “interventionist.” RBS is a comprehensive, formally structured system that assesses risks within the financial system, giving priority to the resolution of those risks.

RBS requires supervisors to review the manner in which insur-

ers are identifying and controlling risks. In other words, the aim is to capture an insurer’s risk profile (identify emerging risks) and to address them early. This is done through a risk-scoring model. It requires supervisors to assess system and individual firm risk and to respond with the supervisor’s own processes and interventions in line with the assessment. RBS involves supervisors assessing four factors: inherent risk, controls, residual risk and additional support. Tony Randle summarizes the entire concept: “A risk-based supervision approach assesses the probability and severity of the material risks to which insurers are subject; it assesses the effectiveness of the controls in reducing the probability of risk events occurring or the severity if they do occur. It further considers what the insurer has in place to deal with an event occurring even though the controls are in place and are functioning properly. The risk of failure can be approximated as the combination of all the risks [being the product of the probability of an event happening and the severity if that event happened] less the value of the additional support.” The possible adoption of RBS would find statutory support in Section 189 of the Amended Insurance Code, which states: “The main purpose of the statutory statements is

Wednesday, May 1, 2019 A7

to present important information about the level of risk and solvency situation of insurers.”

Russell Lamb stated that RBS “entails policy and implementation orientation toward identification of activities and practices that are of greatest risk to the soundness and the safety of an individual insurance company and the financial system as a whole.”

He adds, “RBS focuses on qualifying problems by identifying system flaws and poor management practices that cause both current and potential problems. Where problems are deemed to be significant, the regulator may employ transaction analysis to quantify them in order to determine more precisely to what extent capital and liquidity are at risk and to prescribe appropriate remedies. RBS places strong emphasis on understanding and assessing the adequacy of each company’s risk-management systems which are in place to identify, measure, control and monitor risk in an appropriate and timely manner. It is an ongoing process whereby the risks of an insurance company are assessed and determined appropriately.”

Risk-based supervision has been described as “dynamic,” requiring more engagement from the supervisor. It requires “extensive use of judgment.” Consequently, a dialogue with supervised entities is unavoidable.

Thus, it requires greater understanding and anticipation of the possible risks. While compliance-based supervision (CBS) relies on the written rules which the insurer must observe, RBS is focused on principles. Specifically, the interplay between risks and capital: The higher the risk profile of an insurer, the higher the capital it must hold.

Central to RBS is risk-assessment capability of the financial examiners of the Insurance Commission as well as awareness of the controls

that need to be put in place, both of which are subjective. In other words, supervisory judgement. Risk assessment is proposed to be part of a quarterly analysis program. It is proposed that among the risks to be examined include strategic risks, governance risks, legal risks, liquidity risks, credit risks, investment (market) risks, insurance risks and operational risks. These risks or issues are then graded or scored.

Generally, the main elements of RBS are the following: Data capture, data analysis, supervisory judgment and management of information (meaning parameters are set to detect changing risk profiles).

In this regard, training and capacity-building are necessary.

The focus of a specific examiner on particular insurers, both during on-site and off-site examinations, are also necessary. Thus, all insurers will have a company profile prepared for monitoring by the examiner. Analysis will have to be done on a quarterly or an annual basis.

Among the documents proposed to be analyzed would be: The Annual Statement Analysis Worksheet, Financial Analysis Audit Guide, Actuarial Opinion Audit Guide, MD&A and MD&A Audit Guide, Peer Analysis Financial Profile Review, Ratio Results, Fin Analysis Handbook Ratio Results, Snapshot Investment Summary, Dividend Review, Holding Company Review, CPA Audit Report Review, Reinsurance Summary Review and Business Plan Review.

For the Philippines, we note that most insurance supervisors that have adopted RBS have done so gradually.

And the Commission is conscious that there is a need to avoid ineffective supervision.

Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016.

E-mail: dennisfuna@yahoo.com.

Maybe Europe can’t recover from the financial crisis

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By Noah Smith | Bloomberg Opinion

because the EU had no unified fiscal policy, it was difficult to bail out Greece via transfers from economically vigorous member-states such as Germany.

The real solution to the crisis was to have coordinated bailouts of European banks (which had lent money to shaky member-states) and bond purchases by the European Central Bank—basically, what the US did. But resistance from Germany’s electorate, as well as a cultural bias against stimulus and quantitative easing, delayed this solution for years. This demonstrated the lack of responsiveness and coordination inherent to the EU project.

European integration had been a fragile project from the beginning.

Unlike the US, the EU was linguistically fragmented, with many centuries of history of political conflict.

Voters in France and the Netherlands rejected an EU draft constitution in 2005, and the UK was too skeptical to even join the euro zone. Without full buy-in from important members like France and the UK, the EU was never capable of approaching the kind of national unity found in the US. Thus, it stumbled along as

something halfway between a country and a free-trade zone, until a crisis inevitably came.

The question is whether that crisis represented a turning point for Europe—a shock that acts as the catalyst for a long, inexorable decline.

Beyond the sputtering recovery of Greece and Italy, there are number of other signs that this pessimistic scenario will come to pass.

The EU as a whole continues to be vulnerable to crises, but it’s questionable whether smaller European states can thrive as independent economies. Businesses naturally want to locate where there’s a large consumer market. If the EU fragments, countries may implement trade barriers that would make the continent less attractive as a market, and cause business to migrate elsewhere—as might now happen to the UK after Brexit.

Oddly enough, Europe’s linguistic and institutional fragmentation might be what helped it get rich in the first place. Anthropologist Jared Diamond has suggested that Europe developed precisely because the large number of competing nations encouraged a lot of policy experimentation. This is in contrast with China, where some believe that imperial policy mistakes—and later, the insane policies of Mao Zedong—held that giant nation back at a critical time. But in the modern globalized age, the tables may have turned, and China’s unification may allow it to become the economic center of the world while a fragmented Europe flounders.

China is becoming the world’s hub

for high-tech electronics manufacturing, and may soon dominate in more traditional European strengths like autos. Meanwhile, despite a few bright spots, Europe has generally struggled to create technology giants. Clunky, onerous regulation like the General Data Protection Regulation will probably make it harder to do so.

Beyond fragmentation and clumsy policy-making, Europe suffers from another fundamental weakness—low fertility rates: This problem also afflicts East Asia, but that will come as cold comfort to Europe. Declining population will put strains on pension systems and make companies less interested in investing on the continent. The obvious policy is to increase immigration in order to maintain population levels, but Europe is not traditionally accustomed to diversity (as recent political turmoil over immigration has shown), and its labor markets may be too rigid to absorb large numbers of newcomers.

So there are many reasons to believe that future historians may see the financial crisis as the tipping point when Europe began to decline.

The period of peace, prosperity and stability between the end of World War II and 2008 may turn out to have been merely a brief sunny plateau between the rise and fall of a continent whose technology and economies once dominated the world. It’s not obvious what Europe’s leaders can do to prevent this dark outcome, but they should be spending most of their time and effort thinking about how to avert it.

Arnaud, recently put the situation in blunt terms. “Everywhere in the history of mankind, when there is a negotiation between two sides, the more powerful is imposing terms on the weaker party,” he said. “That’s

the basis of [the Trump Plan]. It will be a proposal very close to what the Israelis want.”

In a negotiation, the Palestinians can ask for, and expect, demilitarized autonomous rule

over most of the West Bank, an internal security force, massive international aid, some Israeli reparations for lost property and control of the Al Aksa Mosque and other holy places.

F you read only one history of the global financial crisis and the turbulent decade that resulted, I recommend Crashed: How a Decade of Financial Crises Changed the World, by Columbia University historian Adam Tooze. Few authors are as capable of weaving together economics, policy and geopolitics into a coherent whole. Not only does Tooze cover every critical aspect of the crash in the US, but he offers deep insight into Europe’s slow-motion disaster.

This importance of the latter is underappreciated. Although the crisis began in the US, the breakdown it triggered in Europe had graver consequences. A decade later, the economies of the US and the European Union have both largely recovered, but some of the hardest-hit European countries— Greece, Italy and Spain—are not in such good shape: The political fallout in Europe has also been long lasting. Tooze probably overstates the impact of the crisis on the election of Donald Trump, which was more a function of long-festering racial and cultural conflicts. But the victory of the referendum to leave the EU, which now threatens to inflict permanent harm on the UK, was precipitated in part by the failure of EU institutions to deal with the sovereign-debt crisis in the early 2010s.

Those institutions had been weak from the start. Because the euro zone had a unified currency, it was impossible to use exchange-rate devaluations to help Greece and other countries hit hard by the crisis, as would have been possible had countries had separate currencies. And

Chafets. . .

continued from A6

the best the Palestinians can do.

A senior French diplomat, Gerard

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Civilians join Navy resupply mission in KIG

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By Rene Acosta

@reneacostaBM

HE Navy is undertaking rotation and resupply for its troops manning detachments in the West Philippine Sea, with the mission being joined by civilians, including from the Department of Finance and Shell Philippines.

The contingent sailed for the military outposts in the Kalayaan Island Group (KIG) on Sunday following a send-off ceremony

presided over by Commodore Sean Anthony Villa, commander of the Naval Forces West (NFW). “ T heir main mission is to

resupply the food and drinking water of the NFW personnel defending the Philippine island detachments in the Kalayaan Island Group (KIG),” said Lt. Ronne Riel Grimpola in a statement.

According to him, the BRP Benguet (LS507), a landing tank ship commanded by Lt. Cmdr. Rolando Borromeo, was tasked to safely transport the team to the island detachments.

The re-provisioning is being taken by the Navy amid the tense situation in the KIG’s biggest island Pag-Asa where the “swarming” by hundreds of vessels bearing Chinese militiamen disguised as fishermen has raised alarm and a protest from the Philippine De-

partment of Foreign Affairs (DFA).

President Duterte, at his attendance at the Belt and Road foum in Beijing last week, raised the issue of “irritants” in the West Philippine Sea, and both countries agreed to “de-escalate” the situation through bilateral meetings, according to Malacanang officials.

Grimpola said the Navy contingent will bring food, water and other basic supplies to the sailors and marines stationed in outposts in the nine islets and features in the West Philippine Sea. He said the representatives from the Department of Energy and Shell joined the trip in order to help the deployed soldiers make their duties in the KIG more tolerable.

BI e-gates Caritas Manila gives, sells ‘Go Bags’ as part of disaster readiness to expand

to Naia 2 arrival site

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FTER experiencing more than 25 earthquakes nationwide in just one week, Caritas Manila, the social arm of the Roman Catholic Church in the Philippines that assists victims of natural disasters, among other missions, is urging Filipinos to be earthquake-ready by having a “Go Bag” or an emergency bag in case another big earthquake occurs.

Caritas Manila has prepared at least 500 Go Bags both for distribution to various affected communities or dioceses as well as for individual and corporate purchase, for families, offices and communities to be ready in case another earthquake strikes.

Go Bags will be distributed by Caritas Manila to dioceses affected by the earthquakes last April 22 such as the Diocese of Pampanga, which experienced a magnitude 6.1 earthquake that damaged the control tower and passenger terminal of the Clark International Airport, shattered portions of the Santa Catalina de Alexandria Parish Church in Porac, and left 9 persons dead and 30 persons missing. The Philippine Institute of Volcanology and Seismology (Phivolcs) recorded 18 aftershocks around Angeles City, Olongapo City, and Castillejos, Zambales, making it uncertain whether another earthquake would still hit the province.

“Personnel from the DOE and Shell Philippines joined the team to [check for] themselves the conditions of the troops living in these island territories,” Grimpola also said.

At the send-off, Villa reminded the soldiers to be vigilant of their respective duties and responsibilities as “defenders of the country’s western frontier.” Grimpola said the Armed Forces Western Command

through the NFW continues to perform its mandate of protecting the territorial integrity and sovereignty of the country.

“Thus, it continuously conducts maritime patrols designed to protect the maritime domain and to ensure the safety and well-being of marines and sailors stationed in these far-flung detachments,” he said.

Their main mission is to resupply the food and drinking water of the NFW personnel defending the Philippine island detachments in the Kalayaan Island Group (KIG).”—Grimpola

DENR FETES UNDP FOR BIODIVERSITY PROJECT AT MISSION: PHL RITES

F “This time, Caritas is focusing not only on emergency response but in disaster preparedness. Given the trend of earthquakes since last Monday, April 22, we are urging everyone to be prepared and to have a Go Bag ready in case another earthquake occurs,” Fr. Anton Pascual, executive director of Caritas Manila, stressed.

See “Caritas Manila,” A4

EASTERLIES AFFECTING SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - April 30, 2019

OUR months since it installed the electronic gates (e-gates) at the arrival areas with positive results, the Bureau of Immigration (BI) said on Tuesday it wiĺl install similar e-gates for departing international travelers at the Ninoy Aquino International Airport (Naia).

Grifton Medina, BI Port Operations Division Chief, said the egates will initially be pilot-tested at the departure area of the Naia Terminal 2.

He said the BI is targeting to test-run the new e-gates by May. He said that similar to the arrival e-gates, the departure e-gates will be for overseas Filipino workers (OFWs).

“We want to make processing smoother and faster for our fellow Filipinos, especially OFWs, so they can maximize their time with their families,” said Medina.

Due to security concerns, the e-gates will initially be utilized for processing of Filipino workers only. Other types of passengers may undergo regular immigration inspection.

“We are still studying extending this later to cater to other ty pes of passengers, perhaps to per m a nent resident s a nd frequent flyers.”

Medina made the announcement after the BI received an award at the Philippine OpenGov Leadership Forum 2019 held April 25 in Makati City.

This was in recognition of its successful e-gates program and other improvements to its airport operations.

Singapore-based OpenGov Asia, which hosted the forum, presented the BI with a Recognition of Excellence (RoE) for successfully installing 21 e-gates in six international airports in the country which facilitated faster immigration processing.

OpenGov Asia is a content platform, primarily focused on imparting knowledge on information and communications technology (ICT) between governments in the AsiaPacific region.

The RoE is given by OpenGov Asia to institutions that have demonstrated improvement in ICT strategies, policies, and initiatives.

“The main beneficiary of this project will be our OFWs who will no longer go through the hassles of lining up for clearance before they could leave the country,” Medina said.

“This is another huge step forward in the improvement of our services,” said BI Commissioner Jaime Morente. Recto L. Mercene

UNDP Deputy Resident Representative Enrico Gaveglia receives the Development Aid Partner Award for Biodiversity from Director Crisanta Marlene P. Rodriguez of the DENR’s Biodiversity Management Bureau at the recent Mission: PHL Envoys&Expats Award. ROY DOMINGO

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HE United Nations Development Programme (UNDP) was recently recognized by the Department of Environment and Natural Resources (DENR) for its efforts in biodiversity conservation at the culminating rites of Mission: PHL, the BusinessMirror Envoys & Expats Awards.

UNDP Deputy Resident Representative Enrico Gaveglia received on behalf of the agency the Development Aid Partner Award for Biodiversity from Director Crisanta Marlene P. Rodriguez of the DENR’s Biodiversity Management Bureau.

“Good evening everybody. This is certainly the closest thing to an

Oscar I will ever have. It’s an honor.

Thanks to BusinessM irror for this generous award, it’s much appreciated on behalf of the United Nations Development Programme.

“The story of development partners is a bit all the same. We are talking about commitment towards sustainable development and several countries do that.

“But it should not be too much about the celebration of ourselves in terms of our commitment. But it ’s also about those who...will not actually be on stage here. We are talking about those people we are working for, the beneficiaries. We See “DENR,” A2

Rody urged: sign bill making 1st-time workers tax-exempt

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R ESIDENT Duter te was prodded Tuesday to sign into law a Congress-approved remedial legislation granting tax-free privileges for at least 1.3-million first-time jobseekers.

Senator Juan Angara, principal author of the measure, confirmed the enrolled copy of the bill, to be known as the First-Time Jobseekers Act, was “already sent to Malacanang for the President’s signature.”

In a statement, Angara aired hopes that the bill will soon be signed into law by Duterte.

He also voiced expectations that the new law’s implementing rules and regulations will be expedited so that new graduates looking to immediately find jobs could promptly “avail themselves of the benefits under the measure.”

New graduates whom the bill grants incentives to include students who completed the K-12 program, a bachelor’s degree or a technical-vocational course from any school, college, university or tech-voch institution.

Students taking a leave of absence or those working part-time while enrolled are also qualified to apply for tax-exemption benefits, including police clearance, NBI clearance, barangay clearance, medical certificate from public hospitals, birth and marriage certificates, tax identification number, community tax certificate, certification of eligibility, multipurpose ID card, and other government-issued documents required by employers.

In filing the bill, Angara acknowledged that “searching for a job can be costly.”

He also cited data showing that jobless applicants are made to pay “as much as P2,000 for employment requirements,” mostly government-issued documents.

He said the remedial legislation, once enacted into law, “can help ease a bit the financial burden facing first-time jobseekers,” and avoid the irony of new workers suddenly falling into debt just to meet the documentary requirements for employment. Butch Fernandez

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In the ad material of Notice of filing of Application for Alien Employment Permits published on March 30, 2019, the Company name and Address of Mr. Fu, Changling should have been read as CHINA CONSTRUCTION GROUP CORPORATION LIMITED PHIL. BRANCH located at Unit #1007, Atlanta Centre #31 Annapolis St., Brgy. Greenhills, San Juan, Metro Manila and not as published.

The notice of the filing of Application for Alien Employment Permit (AEP) that we had inadvertently published yesterday, April 30, was a duplicate of the March 26 release. To address the said mistake, we have published today, May 1, the supposed April-30 notice from the Department of Labor and Employment (DOLE).

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

A14 Wednesday, May 1, 2019

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Wednesday, May 1, 2019 A19

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

BusinessMirror

Divinalaw named “employer of choice”

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A20 Wednesday, May 1, 2019

www.businessmirror.com.ph

HILIPPINE law firm DivinaLaw was named “Employer of Choice for 2019” by Asian Legal Business (ALB). The award is given to Asia’s best law firms to work for. This is the second year in a row that the firm – which is headed

by University of Sto. Tomas Law Dean Nilo Divina – received the accolade from the Thomson Reuters publication.

According to ALB, the “Employer of Choice” rankings were compiled taking into account responses from more than 2,500

private practice lawyers (ranging from managing partners to paralegals) across Asia, as well as its own market research.

The law firms were ranked on the basis of job satisfaction, remuneration, work-life balance, career prospects, mentorship, job security and other aspects. The survey was conducted randomly across different ranks of employees with the respondents’ identities kept anonymous.

In the results published in ALB’s April 2019 issue, it quoted a survey respondent

from DivinaLaw as having praised the Firm’s “near-perfect work environment”.

Other noteworthy comments included observations about DivinaLaw’s strong sense of collaboration and teamwork, solidarity, mutual respect, and shared vision. Ultimately, the Firm’s employment atmosphere was summed up as “worklife balance, combined with generous pay, and a great boss.”

Divina, who founded the Firm thirteen (13) years ago, was humbled by the

accolade. “Although the Firm has received numerous awards before, being named Employer of Choice is perhaps the most meaningful because it signifies that we have succeeded in nurturing and ensuring the well-being of the Firm’s greatest asset, namely its people,” he enthused.

From a Firm of five (5) lawyers, DivinaLaw is now one of the country’s most respected law firms, with a complement of 63 practitioners specializing in a wide array of practice areas.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, May 1, 2019

B1

Roxas Holdings in talks with 3 companies interested to purchase its mill in Batangas

L

By Jasper Emmanuel Y. Arcalas

@jearcalas

ISTED integrated sugar firm Roxas Holdings Inc. (RHI) said it is in talks with three firms for the sale of its Batangas mill, after the Philippine Competition Commission (PCC) turned down the acquisition of the property by Universal Robina Corp.

(URC) two months ago.

The three firms come from allied industries of the sugar sector, including Lucio Tan’s Tanduay Distillers Inc., RHI Chief Financial Officer Celso T. Dimarucut said.

“We have ongoing discussions; we are doing our due diligence.

Our timeline for this is to be able to finish or do something before our fiscal year ends in September,” Dimarucut told reporters in a briefing after the group’s annual

stockholders’ meeting on Tuesday.

In February, the PCC rejected URC’s proposal to buy out the assets of Central Azucarera Don Pedro Inc. (Cadpi) and RHI, its only competitor in Southern Luzon.

The PCC said both millers are located in Batangas. URC’s sugar mill is in Balayan, while CadpiRHI’s milling facilities are in Nasugbu. A merger, the PCC said, would lessen competition in the sugar-milling services market

not only in Batangas, but also in Cavite, Laguna and Quezon.

“The prohibition prevents this deal from creating a monopoly in the relevant market that could harm the welfare of the sugarcane planters. It is the duty of the Commission to prevent the creation of monopolies when applying the merger control powers conferred on it by the Philippine Competition Act,” PCC Chairman Arsenio M. Balisacan said in a statement in February.

Dimarucut said they started talks with the three interested groups one month after the rejection of the merger with URC by the PCC. Dimarucut said proceeds from the sale of its Batangas assets would be used to shave off some of its debts which is roughly around P11 billion, while some portions would be used for the group’s regular working capital.

In a related development, RHI said it may venture into exporting ethanol to the Asian market a f ter gover nment reg u l ators

greenlighted its plan to import cheaper feedstock to utilize their plants’ excess capacity.

RHI President and CEO Hubert D. Tubio said they are eyeing to capitalize the ongoing trade war with United States and China by supplying the latter with ethanol.

“When we acted for this possibility, the window opportunity for us was in the last quarter of 2018 because of the China-US conflict.

It was actually the Chinese market that is interested to import our ethanol,” Tubio told reporters after the group’s annual stakeholders’ meeting on Tuesday.

“But then it took us some time to get the go signal, the approval of the necessary regulatory agencies. We cannot do it without that—we cannot import [feedstock] in the first place without the approvals of the agencies,” Tubio added.

Last Friday, the RHI got positive news for its request to import feedstock as a House of Representatives joint oversight hearing revealed that there are no legal

impediments for the group to import its raw materials.

The hearing, spearheaded by Speaker Gloria Macapagal-Arroyo, sought to address the issues hounding the local bioethanol industry, especially RHI’s request to import feedstock.

Officials from the Department of Energy disclosed during the hearing that RHI could import molasses as long as the bioethanol products would be exported and not sold in the domestic market.

Likewise, Sugar Regulatory Administration officia ls said they would not object on RHI’s importation proposal as long as the final products are exported.

Tubio said they are awaiting the official orders or document f rom gover nment reg u l ators that would formalize the group’s importation of feedstock before undertaking necessary actions.

“We will now exert stronger efforts, more efforts, to look for these [export] markets, which are most likely in Asia, such as China,” he added.

Tubio said the group could source its feedstock from Asian countries like Indonesia, Malaysia, Thailand, India and even Brazil.

RHI pitched to import feedstock as local planters could not supply their feedstock demand due to supply shortage and rising domestic prices brought by unfavorable yield caused by hotter weather temperature.

“Hopefully, [the importation] would ease up our absorption and improve the capacity utilization of our utilities,” Tubio said.

The group’s ethanol capacity is pegged at 150,000 liters daily with 135,000 liters dedicated for the local industry, hence, leaving a 15,000-liter excess capacity. This excess capacity, Tubio said, would be utilized by the company for its export markets once imported feedstock starts to come in.

T he g roup eyes to impor t feedstock immediately after the government issues the order and hopes to export ethanol before its current fiscal year ends on September 30.

B2

Companies BusinessMirror

Wednesday, May 1, 2019

PSE STOCK QUOTATIONS

April 30, 2019

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

58 133.4 83.6 26.5 11.58 75.95 12.5 21.4 52.25 58.15 25.6 179.6 60.55 1.28 18.9 4.8 1.38 0.485 780 0.91 177 1815

58.6 133.8 83.7 26.7 11.6 76 13.5 21.5 52.4 58.9 25.65 180 60.95 1.3 18.94 4.84 1.42 0.49 820 0.94 178.7 1825

58 133.8 83.9 26.8 11.6 75.75 13.5 21.5 52 58.95 25.9 180.9 61 1.3 18.94 4.62 1.42 0.495 785 0.96 181 1830

58.6 134.1 83.9 26.8 11.66 76.85 13.5 21.5 52.8 58.95 25.9 180.9 61 1.3 18.94 4.9 1.42 0.51 800 0.97 181 1830

58 133 83.6 26.5 11.58 75.5 13.5 21.5 51.85 58 25.6 179.1 60.5 1.28 18.92 4.6 1.38 0.475 780 0.91 181 1815

58.6 133.8 83.7 26.5 11.6 76 13.5 21.5 52.4 58 25.6 180 60.55 1.3 18.94 4.84 1.38 0.49 800 0.91 181 1815

9180 805020 2728110 231800 247000 2790080 500 100 44370 310 65200 96640 670 17000 3400 428000 5000 2848000 830 1275000 160 200

535458 107507134 228444966 6149110 2867806 211923256 6750 2150 2316419.5 18257.5 1671790 17394105 40684.5 22000 64390 2058450 6940 1390525 661650 1206400 28960 364650

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

1.39 37.35 0.236 21.5 79 383 22.6 6.4 4.4 1.57 11.9 45.2 6.91 15.58 14.62 15.36 5.98 10.78 7.39 113.7 0.85 28.6 304 50 10.06 14.92 0.194 1.23 12.9 1.63 4.75 2.01 0.128 145.5 1.44 2.5 66.5 2.07 5.4 15.98 9.31 11.72 22.45 9.04 0.96 1.18 108 1.95 1.56 3.83 3.41 5.05 45 2.59 11.22 1.74 5.97 1.25 27.1

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

0.6 18.4 885 54 14.82 0.77 1.38 1.4 1251 7.55 11.48 14.9 0.241 850 6.41 64.05 5.5 0.495 5.02 16 0.55 2.76 4.43 0.038 2.86 1.12 1.33 434 944 174.9 0.93 0.236 0.33

1.44 37.5 0.245 21.6 79.6 383.2 22.85 6.41 4.5 1.58 12.08 45.3 6.95 15.6 16.28 15.38 5.99 10.88 7.42 114.4 0.87 28.8 304.8 52.5 10.46 15 0.202 1.24 12.98 1.7 4.8 2.12 0.13 145.7 1.45 2.66 70.4 2.08 5.85 16 9.38 11.76 22.5 9.1 0.98 1.2 110 1.98 1.69 3.9 3.55 5.22 45.5 2.6 11.24 1.75 6.1 1.29 27.5

1.38 37.4 0.245 21.7 78.3 384 22.5 6.22 4.47 1.42 11.82 45.55 6.9 16.08 16.3 15.5 5.99 10.76 7.39 114.9 0.87 28.55 303.4 52.5 10.08 15.02 0.194 1.24 12.7 1.65 4.85 2.11 0.128 142.3 1.38 2.5 68.35 2 5.85 15.9 9.4 11.44 22.05 9.1 0.96 1.2 110 1.99 1.69 3.84 3.6 5.1 45 2.43 12.46 1.77 6.04 1.25 28

1.44 37.7 0.245 21.7 79.1 384 22.85 6.43 4.5 1.57 12.08 45.6 7.08 16.2 16.3 15.5 5.99 10.94 7.42 114.9 0.87 28.65 304.8 52.5 10.54 15.14 0.2 1.25 12.92 1.71 4.85 2.12 0.128 145.6 1.44 2.52 68.35 2.1 5.85 16 9.42 11.78 22.5 9.1 1 1.21 110 1.99 1.69 3.88 3.6 5.25 45 2.66 12.56 1.77 6.04 1.29 28.7

1.38 37.1 0.244 21.5 78.3 380.6 22.5 6.12 4.42 1.42 11.82 45 6.8 15.6 16.3 15.34 5.8 10.76 7.38 113 0.85 28.55 302.8 52.5 10.08 14.9 0.194 1.22 12.7 1.65 4.8 2.11 0.128 142.3 1.37 2.5 66 2 5.85 15.8 9.15 11.24 22.05 9.1 0.96 1.17 110 1.95 1.69 3.83 3.41 5 45 2.33 10.84 1.75 6.02 1.24 27.1

1.44 37.5 0.245 21.5 79 383 22.6 6.41 4.5 1.57 12.08 45.2 6.95 15.6 16.3 15.38 5.98 10.88 7.4 114.4 0.86 28.6 304 52.5 10.08 15 0.2 1.25 12.9 1.71 4.8 2.12 0.128 145.5 1.44 2.5 68.3 2.07 5.85 15.98 9.38 11.72 22.5 9.1 0.96 1.2 110 1.95 1.69 3.83 3.55 5.05 45 2.6 11.22 1.75 6.02 1.29 27.5

41000 1011500 510000 645100 246300 100960 1414400 3898200 32000 30609000 212200 88500 64600 587200 1000 1123600 7400 1941200 1120900 50980 1256000 4500 284530 10 9300 381900 140000 1500000 280100 13000 146000 112000 470000 1277220 5916000 521000 1100 38348000 200 498600 90200 3185100 720600 200 619000 1448000 310 69000 6000 116000 3000 44200 150300 14020000 5152100 70000 27900 69000 116400

56920 37900685 124650 13893810 19450305 38621120 32009970 24433269 143410 46580300 2550194 3996685 446672 9331402 16300 17255354 43927 21036960 8286737 5817083 1083680 128740 86318928 525 94008 5747636 27760 1863310 3610880 21510 702990 237420 60160 185697633 8391300 1304500 73835 79056270 1170 7968250 835900 37226368 16133930 1820 598030 1711370 34100 135010 10140 445180 10560 223253 6763500 35071240 58461196 122860 168208 86280 3236555

HOLDING & FRIMS 0.61 18.48 890 54.25 14.84 0.78 1.39 1.46 1699 7.56 11.52 14.92 0.25 860 6.57 65 5.58 0.52 5.03 16.08 0.58 3.39 4.44 0.04 2.9 1.13 1.34 471.2 950 175 0.94 0.241 0.335

0.62 18.76 885 55.15 14.5 0.76 1.39 1.4 1251 7.6 11.78 14.92 0.241 852 6.42 65.65 5.5 0.52 5.17 15.8 0.55 3.38 4.4 0.039 2.93 1.13 1.34 430 951.5 177.2 0.98 0.236 0.33

0.62 19 894 56.1 14.86 0.78 1.4 1.4 1251 7.6 11.78 15.2 0.25 868.5 6.42 65.65 5.5 0.52 5.17 16 0.58 3.39 4.47 0.04 2.93 1.13 1.34 473 953 178 0.98 0.241 0.34

0.59 18.46 883 54 14.5 0.75 1.37 1.39 1251 7.54 11.4 14.88 0.241 828.5 6.41 63.7 5.5 0.5 5.02 15.5 0.55 3.38 4.4 0.038 2.84 1.13 1.34 430 935.5 173.8 0.93 0.236 0.325

0.6 18.48 885 54 14.82 0.77 1.39 1.4 1251 7.56 11.52 14.92 0.25 852 6.41 65 5.5 0.52 5.02 16 0.58 3.39 4.44 0.04 2.86 1.13 1.34 434 950 175 0.94 0.241 0.335

9388000 22200 254930 1299830 6762700 904000 3501000 414000 10 359200 3846300 1219200 40000 516500 14900 1743150 5500 11000 289500 1888300 5000 6000 23351000 5700000 1043000 2000 21000 190 183520 256830 1251000 210000 2830000

5602450 414462 225800370 70734549.5 99356454 683040 4862580 579590 12510 2716836 44309948 18227490 9810 441944095 95559 112753678 30250 5680 1460804 29783940 2840 20310 103662610 221000 2993240 2260 28140 84310 173739845 44953206 1182180 49610 932550

226300 34785074 6996535 -4394645 -96204 -21940888.5 1155258 -905360 7939609 -19981 51132 -233210 10348740 122200 -2172445 -16892092 -2686068 -4136145 -2669791 145300 -211258 -2058225 1360 -555094 -1324334 -9261050 -100575 2076518 -43790324 447408 477380 -38160.0002 -58309489 13700 1052500 -22414450 -936000 13980 526536 8172715 -5950 -36650 -187718 -76500 1468970 24088798 -713425 -5070 7588 -81113920 -37402525.5 -11492604 576790 -911662 -27469982 1950090 -45789695 3487480 -941338 -7688860 -36965330 -0 -23086185 -31354197 -

PROPERTY

ARTHALAND CORP 0.78 0.79 0.79 0.8 0.77 0.77 576000 451110 ANCHOR LAND 10.04 11.18 11.2 11.2 10.02 11.18 6000 61436 AYALA LAND 48.9 49.5 48 49.5 47.95 49.5 18473500 901647970 272334205 ARANETA PROP 1.93 1.99 1.99 2 1.99 1.99 220000 437810 BELLE CORP 2.43 2.44 2.45 2.47 2.43 2.44 286000 700790 -29370 A BROWN 0.76 0.77 0.77 0.78 0.75 0.77 985000 747810 CITYLAND DEVT 0.91 0.92 0.91 0.92 0.91 0.92 8000 7310 CROWN EQUITIES 0.237 0.245 0.24 0.242 0.237 0.237 7290000 1746570 -456140 CEBU HLDG 6.33 6.5 6.33 6.5 6.33 6.5 2200 14263 CEB LANDMASTERS 4.3 4.35 4.3 4.38 4.3 4.35 1886000 8172570 1188640 CENTURY PROP 0.51 0.52 0.51 0.52 0.5 0.51 7892000 4016540 -697680 DOUBLEDRAGON 25.65 25.7 25.85 26 25.4 25.7 645200 16589325 6945185 DM WENCESLAO 10.76 10.78 10.82 11 10.6 10.76 574700 6139780 372300 EMPIRE EAST 0.49 0.495 0.495 0.495 0.49 0.49 280000 137550 FILINVEST LAND 1.52 1.53 1.52 1.54 1.52 1.53 8042000 12237040 435580 GLOBAL ESTATE 1.3 1.31 1.29 1.32 1.29 1.3 1388000 1809410 -156000 8990 HLDG 14.46 14.5 13.94 14.7 13.94 14.5 2178600 31064506 -255342 PHIL INFRADEV 1.65 1.66 1.75 1.75 1.64 1.66 6173000 10425400 358030 CITY AND LAND 0.83 0.85 0.82 0.83 0.82 0.83 5000 4130 MEGAWORLD 5.57 5.59 5.6 5.6 5.56 5.59 36098000 201848961 -16128126 MRC ALLIED 0.335 0.34 0.335 0.34 0.33 0.335 14140000 4705950 13200 PHIL ESTATES 0.475 0.49 0.49 0.49 0.49 0.49 20000 9800 PRIMEX CORP 2.41 2.47 2.41 2.5 2.4 2.41 332000 804260 -243000 ROBINSONS LAND 24.4 24.5 23.8 24.5 23.8 24.5 3484200 84718635 16999790 PHIL REALTY 0.42 0.435 0.42 0.43 0.42 0.43 540000 226900 ROCKWELL 1.97 2 1.99 2.01 1.96 2 846000 1690490 435990 SHANG PROP 2.95 3.04 3.01 3.04 2.95 3.04 1050000 3127300 94400 STA LUCIA LAND 1.68 1.69 1.69 1.7 1.68 1.7 868000 1468420 -338000 SM PRIME HLDG 40.6 40.8 40 40.8 39.65 40.8 10315000 416676840 59334605 STARMALLS 7.08 7.12 6.99 7.12 6.87 7.12 258900 1810033 547883 SUNTRUST HOME 0.73 0.74 0.74 0.74 0.74 0.74 408000 301920 148000 VISTA LAND 7.31 7.32 7.3 7.4 7.29 7.32 4679600 34263821 4741625

SERVICES ABS CBN 19.02 19.04 19.2 19.2 19 19.04 95800 1823484 GMA NETWORK 5.12 5.13 5.19 5.19 5.1 5.13 337800 1730949 MANILA BULLETIN 0.59 0.6 0.62 0.62 0.58 0.6 685000 407020 MLA BRDCASTING 15.12 16.8 15.1 15.1 15.08 15.08 1000 15092 GLOBE TELECOM 1759 1780 1790 1837 1755 1780 53280 94930560 23716855 PLDT 1220 1234 1237 1237 1202 1234 99875 122224560 7298800 APOLLO GLOBAL 0.039 0.04 0.04 0.04 0.04 0.04 4700000 188000 DFNN INC 6.53 6.95 6.52 6.95 6.52 6.95 28000 191670 ISLAND INFO 0.126 0.129 0.126 0.129 0.125 0.126 1760000 222180 ISM COMM 5.1 5.11 4.9 5.11 4.8 5.11 2627000 12967530 -1156390 JACKSTONES 2.97 3.04 2.97 3.04 2.96 3.04 30000 89170 NOW CORP 2.32 2.33 2.39 2.39 2.3 2.33 1700000 3981780 -7000 TRANSPACIFIC BR 0.365 0.37 0.37 0.375 0.365 0.37 2060000 759700 PHILWEB 3.02 3.04 3.05 3.14 3 3.04 1654000 5065430 -191700 2GO GROUP 12.6 13 13 13.02 12.6 13 48900 629262 ASIAN TERMINALS 15.02 15.54 15.38 15.48 15.38 15.48 3000 46290 CHELSEA 5.28 5.29 5.1 5.29 5.09 5.29 2360300 12212391 -2826380 CEBU AIR 81.2 82 82.2 82.3 81 81.2 88870 7262670 -105723.5 INTL CONTAINER 123.3 124 121.4 125 121.4 124 3219290 398531417 83345697 LBC EXPRESS 15.16 15.76 15.16 15.16 15.16 15.16 300 4548 LORENZO SHIPPNG 0.81 0.82 0.83 0.87 0.8 0.83 1498000 1218890 82000 MACROASIA 21.65 21.7 21.6 21.8 21.6 21.7 739800 16054630 3332575 METROALLIANCE A 1.74 1.84 1.69 1.89 1.68 1.84 164000 297900 PAL HLDG 10 10.02 10.4 10.4 10 10 5900 59820 HARBOR STAR 2.83 2.84 2.83 2.88 2.83 2.84 484000 1379720 142500 BOULEVARD HLDG 0.07 0.071 0.07 0.071 0.07 0.07 7990000 560860 16100 DISCOVERY WORLD 2.06 2.18 2.05 2.05 2.05 2.05 1000 2050 WATERFRONT 0.66 0.67 0.67 0.68 0.66 0.67 1319000 878830 CENTRO ESCOLAR 7.03 7.99 7.04 7.04 7.03 7.03 2000 14071 IPEOPLE 11.02 11.48 11.02 11.02 11.02 11.02 6500 71630 STI HLDG 0.67 0.68 0.68 0.68 0.67 0.68 1160000 781830 -190710 BERJAYA 2.55 2.57 2.27 2.7 2.27 2.55 2525000 6401780 -20110.0001 BLOOMBERRY 12.98 13 12.52 13 12.52 13 9408200 120634382 23959054 PACIFIC ONLINE 4.27 4.29 4.31 4.31 4.25 4.27 11000 47210 -60 LEISURE AND RES 3.74 3.77 3.82 3.82 3.72 3.75 806000 3024560 -1598250 MANILA JOCKEY 4.75 4.79 4.75 4.75 4.75 4.75 3000 14250 PH RESORTS GRP 4 4.17 3.9 4.18 3.9 4.18 89000 361340 PREMIUM LEISURE 0.74 0.75 0.76 0.76 0.73 0.74 2541000 1882240 73380 PHIL RACING 7.15 8.15 8.15 8.15 8.15 8.15 200 1630 TRAVELLERS 5.62 5.64 5.62 5.63 5.62 5.63 86700 487552 -96153 METRO RETAIL 3.44 3.45 3.47 3.48 3.44 3.45 4101000 14155060 583370 PUREGOLD 43.55 44 43.35 44 43.25 44 3794900 166508285 -22433055 ROBINSONS RTL 77 78.3 78.3 78.3 76.75 78.3 97890 7618293.5 -3022072.5 PHIL SEVEN CORP 116 116.5 115.5 116 115.5 116 1300 150650 -1155 SSI GROUP 2.68 2.7 2.7 2.74 2.68 2.7 6812000 18419950 6317610 WILCON DEPOT 16.7 16.8 17 17.04 16.5 16.8 858500 14333438 3655102 APC GROUP 0.415 0.425 0.415 0.42 0.41 0.42 150000 62350 EASYCALL 13.5 13.52 11.9 14.26 11.2 13.5 2083000 28010848 -30272 GOLDEN BRIA 408 421 409 430 408 408 2790 1150408 20400 IPM HLDG 7.04 7.05 7.05 7.05 7.05 7.05 6000 42300 PAXYS 3.11 3.19 3.11 3.11 3.11 3.11 15000 46650 PRMIERE HORIZON 0.96 0.97 0.96 0.98 0.93 0.96 46727000 44608970 82160 SBS PHIL CORP 9.04 9.05 9.04 9.04 8.81 9.04 10500 94258 -37023

MINING & OIL ATOK 11.46 12.06 12.4 12.78 11.34 12.08 35300 435482 123802 APEX MINING 1.36 1.38 1.39 1.4 1.35 1.38 1722000 2354860 32520 ABRA MINING 0.0019 0.002 0.002 0.002 0.002 0.002 152000000 304000 ATLAS MINING 2.82 2.89 2.9 2.9 2.8 2.89 182000 513860 -286630 BENGUET A 1.29 1.54 1.29 1.57 1.29 1.57 8000 12280 BENGUET B 1.21 1.49 1.55 1.55 1.21 1.21 16000 21730 COAL ASIA HLDG 0.29 0.3 0.29 0.29 0.29 0.29 500000 145000 CENTURY PEAK 2.7 2.72 2.71 2.72 2.7 2.72 381000 1031400 -537330 DIZON MINES 8 8.05 8.08 8.1 7.99 8.01 6400 51280 FERRONICKEL 1.49 1.52 1.5 1.52 1.48 1.52 10954000 16491260 2126230 GEOGRACE 0.25 0.255 0.255 0.255 0.247 0.255 620000 154800 LEPANTO A 0.112 0.113 0.115 0.115 0.113 0.113 560000 63570 LEPANTO B 0.113 0.122 0.113 0.113 0.113 0.113 10000 1130 MANILA MINING A 0.0085 0.0089 0.0089 0.009 0.0087 0.0087 3000000 26600 MANILA MINING B 0.0084 0.009 0.0086 0.009 0.0085 0.0086 6000000 52400 MARCVENTURES 1.08 1.09 1.06 1.09 1.05 1.09 80000 85110 NIHAO 0.98 1 1.01 1.01 0.98 1.01 55000 54220 NICKEL ASIA 2.47 2.49 2.46 2.49 2.44 2.47 933000 2307900 33200 ORNTL PENINSULA 0.91 0.92 0.92 0.92 0.9 0.92 238000 218940 PX MINING 3.15 3.16 3.19 3.19 3.15 3.15 366000 1158200 SEMIRARA MINING 23.7 23.75 23.7 23.95 23.5 23.7 627700 14883505 7253665 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 8300000 99700 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 100100000 1201100 PHINMA PETRO 3.11 3.19 3.11 3.11 3.1 3.1 9000 27950 12400 PXP ENERGY 8.57 8.58 9.41 9.8 8.53 8.57 19632700 182927943 4194168

PREFFERED

HOUSE PREF A 94 95.95 95.9 95.9 95.9 95.9 200 19180 AC PREF B2 497 497.2 497 497 497 497 70 34790 DD PREF 96.2 97.9 96.1 97.9 96.1 97 2710 264386 SMC FB PREF 2 970 980.5 975 975 975 975 1070 1043250 FGEN PREF G 101.1 104.2 103 104 103 104 54660 5684530 LR PREF 1 1.01 1.01 1.01 1.01 1.01 221000 223210 MWIDE PREF 100 102.9 100.1 102.9 100.1 102.9 1010 103901 PNX PREF 3A 100 100.5 100 100 100 100 30000 3000000 PNX PREF 3B 104 106 105 105 105 105 500 52500 SFI PREF 1.45 1.75 1.45 1.45 1.45 1.45 10000 14500 SMC PREF 2B 75 75.9 75 75 75 75 4480 336000 SMC PREF 2C 76 76.9 76.9 76.9 76.05 76.05 9030 690327 SMC PREF 2D 72.55 72.95 72.5 72.5 72.5 72.5 10 725 SMC PREF 2E 71.55 73 72.55 72.55 72.55 72.55 44800 3250240 SMC PREF 2G 73 74.15 73 73 73 73 4010 292730 SMC PREF 2H 72.75 73.65 73.65 73.7 73.65 73.65 26930 1984450.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.08 5.01

18.5 5.23

18.5 5.12

18.5 5.12

18.06 5.01

18.08 5.01

14300 2000

258710 10108

WARRANTS LR WARRANT

1.91

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.3 XURPAS 1.16

1.92

1.98

1.98

1.91

1.91

59000

114540

-

5.33 1.17

5.05 1.13

5.4 1.18

5.02 1.12

5.3 1.17

2414100 4869000

12660255 5614040

644394 -255200

EXHANGE TRADE FUNDS FIRST METRO ETF

117.2

5846.0002 -

117.9

117.5

117.5

117.2

117.5

13830

1623833

-

www.businessmirror.com.ph

SteelAsia breaks ground for steel-wire making facility

C

By John Bello | Correspondent

ANDELARIA, Quezon—A historic first in steel manufacturing for Quezon province was achieved on Monday with the groundbreaking of SteelAsia Manufacturing Corp.’s manufacturing facility in Barangay Malabanban Sur here.

Quezon Gov. David “Jayjay” Suarez, SteelAsia Chairman and CEO Benjamin Yao, House Minority Floorleader and Quezon Third District Rep. Danilo Suarez and Candelaria Mayor Macario Boongaling led the event, along with other provincial, municipal and barangay officials to usher in further development for the province in the next three years.

“The establishment of SteelAsia’s manufacturing facility will play a significant role in the development of Quezon province as this will provide lots of jobs and opportunities for our people. This is part of the master development plan of our

province where the First and Second Districts are identified as our commercial-industrial areas, and the rest are for agricultural purposes to balance our growth and development,” the governor said in his speech, noting the groundbreaking of the steel facility followed the similar groundbreaking last month of the Toll Road 4-South Luzon expressway project spearheaded by San Miguel Corp. Both projects are expected to accelerate the further development for the province.

Yao, a native of Lucban, Quezon, said SteelAsia will be putting up the first and the best modern

wire-rod manufacturing facility in the country.

He said wire rod is used to make wires, nails, screws, steel mesh, steel cables, welding rods and many other products needed for industrialization and the resurgence of manufacturing in the country.

Yao said wire rods are previously 100 percent imported and costly to import which makes it hard for small and medium industries to grow in the country.

The P1-billion facility, which occupies 32 hectares, will make the Philippines equal with other neighboring countries like Indonesia, Thailand, Vietnam and Malaysia which produce wire rods for their local markets.

SteelAsia has its main headquarters in Taguig, Metro Manila and had its first steel mill in Quezon City in 1965.

Also in attendance were former Philippine Charity Sweepstakes Office Director Betty B. Nantes who spoke for her son, Vice Governor Sam Nantes, during the program; SteelAsia Vice Chairman Adrian Cristobal, businessman Nelson Licup, Boongaling, Vice Mayor George Suayan, and

Barangay Malabanban Chairman Perfecto Alcantara. They joined the governor and congressman, Suarez and Yao, all wearing helmets and holding shovels in the noonday heat in the symbolic groundbreaking outside the huge tent put up for the historic event.

Yao said this month, they held two meetings with President Duterte who expressed elation that the establishment of the steel manufacturing facility in Candelaria will generate jobs and development in Quezon province.

Former Candelaria Mayor Ferdinand Maliwanag also expressed gratitude that the huge project will have at last its groundbreaking as it was on April 11, 2016, during his third and final term when the Sangguniang Bayan had passed a resolution approving its establishment in his town.

Resolution 073-2016, signed by Vice Mayor Anatalia Atienza and Maliwanag, stated “A resolution favorably endorsing the steel rolling mill plant of SteelAsia Manufacturing Corp. to be located in Barangay Malabanban Sur, Candelaria, Quezon.”

CAB to probe flight cancellations by Cebu Pacific

T

HE Civil Aeronautics Board (CAB) on Tuesday said it is investigating reports that low-cost carrier Cebu Pacific (CEB) has an inordinate number of flight cancellations.

“The airline would be penalized if it canceled flights attributable to the airline,” CAB Executive Director Carmelo Arcilla said during an ABSCBN television interview.

He said the CAB is investigating cancellations that has affected the low-cost carrier.

Cebu Pacific on Tuesday announced it is canceling 58 domestic round-trip flights until May 10.

So far, the low-cost carrier has canceled 44 flights on April 28 to 29, citing damaged aircraft and heavy traffic.

CEB Spokesman Charo Logarta told the BusinessMirror the flight cancellations “were due to operational concerns and the confluence of many other factors.”

“The unprecedented flight disruption was due to various factors, including several damaged aircraft and heavy traffic that prevented

flights from taking off and landing on time,” she added.

In an official statement released on Monday night, CEB said: “As part of the ongoing effort to improve ontime performance and reduce inconvenience to our passengers, Cebu Pacific and Cebgo will be canceling 58 round-trip flights until May 10, 2019.”

“We are truly sorry for the inconvenience this has caused our passengers,” CEB said, adding passengers on canceled flights may opt to rebook flights for travel within 30 days from original departure date, free of charge; reroute to/from alternate airports for travel within 30 days, subject to availability of seats; get a full refund or place the full cost of the ticket in a travel fund.

“Passengers on canceled flights will receive one round-trip travel voucher which they can use for future flights,” CEB said.

Affected guests may manage their own booking through the “Manage Booking” section of the Cebu Pacific web site (Cebu Pacific-Retrieve Booking).

Monster.com: Online hiring grew 13% in March

O

NLINE hiring in March expanded 13 percent on strong demand growths in the health care, consumer goods, hospitality and logistics industries, Monster.com said.

In a report last week, Monster.com claimed March online hiring grew 13 percent, with the health-care industry posting the highest demand growth at 25 percent. Online recruitment activities of consumer goods and hospitality firms also went up 24 percent, while logistics providers accounted for 22 percent, data from the Monster Employment Index (MEI) showed.

Further, online hiring in the banking and business-process outsourcing industries grew 15 percent and 12 percent, respectively.

Online employment of manufacturing and advertising firms rose 8 percent and 7 percent, accordingly, while constructors improved theirs with 6 percent. All industries monitored under the MEI registered positive figures in March, the exception of education with its online hiring down 11 percent.

Monster.com CEO for Asia-Pacific and Middle East Abhijeet Mukherjee said there is

an increase of online hiring sentiment in the Philippines due to the government’s infrastructure program, as well as its renewed foreign investment policy.

He added projections that label the country as the region’s next economic powerhouse make it more attractive to offshore investors.

Mukherjee argued this will bring about longterm positive changes to the economy which will, in turn, create more jobs for the people.

“Online hiring sentiment in the Philippines has been consistently rising, and much of this growth can be attributed to the government’s infrastructural reforms, together with the push for greater foreign investment,” Mukherjee said in the report.

“Finance Secretary Carlos G. Dominguez III recently dubbed the Philippines as the region’s next economic powerhouse, and urged American businesses to invest in the local economy.

This would be a huge step forward in bringing lasting positive changes to the economy, and would be bound to inject further growth in the local job market,” he said. ElijahFeliceE.Rosales

MUTUAL FUNDS

April 30, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 263.42 -0.23% 1.56% 1.35% 4.44% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.607 3.13% 10.34% 2.91% 11.54% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1225 -1.43% 2.07% 0.33% 5.62% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9359 0.98% N.A. N.A. 5.1% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8686 2.65% N.A. N.A. 5.84% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4951 2.11% 1.41% 1.08% 4.25% MBG EQUITY INVESTMENT FUND, INC. -A 127.08 10.63% N.A. N.A. 9.12% ONE WEALTHY NATION FUND, INC. -A 0.8764 -0.59% -3.32% N.A. 5.29% PAMI EQUITY INDEX FUND, INC. -A 52.0814 2.53% 2.59% N.A. 5.85% PHILAM STRATEGIC GROWTH FUND, INC. -A 544.01 2.02% 1.53% 1.2% 5.69% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3116 2.94% 3.03% 3.88% 4.59% PHILEQUITY FUND, INC. -A 38.6855 3% 3.93% 3.32% 5.6% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0415 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2752 2.85% 3.54% 3.52% 6.38% PHILIPPINE STOCK INDEX FUND CORP. -A 880.53 2.97% 3.21% 3.48% 6.28% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9357 5.53% 2.55% N.A. 8.65% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3258 4.12% 3.51% 2.65% 6.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0124 2.46% 3.21% N.A. 6.09% UNITED FUND, INC. -A 3.7362 4.85% 5.59% 3.39% 6.72% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.801 3.28% 4.3% 4.55% 6.37% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0324 -5.67% 6.91% 1.67% 11.12% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2987 2.27% N.A. N.A. 17.52% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7205 -0.02% -0.27% -1.31% 4.2% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3136 -0.09% 1.43% 0.86% 4.73% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6389 1.86% -0.27% -1.38% 3.74% GREPALIFE BALANCED FUND CORPORATION -A 1.3535 -0.45% N.A. N.A. 3.77% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9183 2.63% 1.54% 1.47% 4.08% PAMI HORIZON FUND, INC. -A 3.6738 0.86% 0.14% 0.56% 4.09% PHILAM FUND, INC. -A 16.5963 1.94% 0.42% 0.63% 4.33% SOLIDARITAS FUND, INC. -A 2.1408 1.68% 1.73% 2.22% 3.31% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.85 3.51% 1.62% 1.71% 5.44% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9978 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9969 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9952 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9806 3.53% 1.57% N.A. 6.39% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03611 3.29% 0.44% 1.55% 2.44% PAMI ASIA BALANCED FUND, INC. -A $0.9914 -4.73% 3.55% -0.28% 5.9% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7295 2.27% 6.27% 3.19% 12.73% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0941 1.2% N.A. N.A. 8.33% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.94 2.88% 2.06% 2.16% 1.33% ATRAM CORPORATE BOND FUND, INC. -A ,1 1.8849 1.03% -0.16% -0.1% 1.38% COCOLIFE FIXED INCOME FUND, INC. -A 3.0187 5.3% 5.22% 5.28% 1.61% EKKLESIA MUTUAL FUND INC. -A 2.1601 2.4% 1.15% 1.86% 1.39% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2569 1.85% 0.39% 0.91% 2.15% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6038 1.05% -0.76% 0.32% 2.52% PHILAM BOND FUND, INC. -A 4.0316 1.71% -0.53% 0.82% 2.85% PHILEQUITY PESO BOND FUND, INC. -A

3.6101 3.26% 1.08% 1.21% 2.64% SOLDIVO BOND FUND, INC. -A 0.9187 1.19% -0.73% N.A. 2.92% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8852 4.77% 1.3% 1.83% 4.31% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5996 4.32% 0.75% 1.34% 3.88% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $454.56 2.9% 1.82% 2.85% 1.4% ALFM EURO BOND FUND, INC. -A Є216.08 1.45% 1.42% 1.57% 1.61% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1677 4.75% 1.7% 2.36% 3.72% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0253 2.02% 0.8% N.A. 2.02% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7133 0.23% -1.29% 0.86% 1.37% 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 $1.0633 2.84% -0.58% -2.31% 2.48% PHILAM DOLLAR BOND FUND, INC. -A $2.2624 4.59% 0.47% 2.79% 4.2% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0582356 2.91% 1.18% 1.78% 2.2% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9763 2.35% -0.11% 2.07% 3.63% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.62 3.55% 2.23% 1.8% 1.47% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0093 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1974 2.83% 1.24% 0.79% 1.31% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2357 3.34% 2.51% 1.88% 1.37% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0242 2.09% N.A. N.A. 0.82%

* - 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

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Regulator approves guidelines on issuance of Asean Bonds

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HE guidelines on the issuance of bonds in line with the standards of the Association of Southeast Asian Nations (Asean) secured regulatory approval.

The Securities and Exchange Commission (SEC) en banc approved the “Guidelines on the Issuance of Social Bonds under the [Asean SBS] Social Bond Standards” and the “Guidelines on the Issuance of Sustainability Bonds

under the Asean Sustainability Bond Standards [SUS]” through Memorandum Circular 8 and MC 9, Series of 2019.

The Asean SBS intend to enh a nce t ra n s pa renc y, con si s tenc y and unifor mit y of the

Asean Social bonds, which will also contribute to the development of a new asset class, reduce due diligence cost and help i nvestors to m a ke i n for med investment decisions.

The Asean SUS aims to provide guidance on the issuance of Asean Sustainability Bonds where the proceeds will be exclusively applied to finance or refinance a combination of both green and social projects that offer environmental and social benefits, respectively.

The Asean SBS was developed based on the International Capital Market Association’s Social Bond Principles (SBP), first launched in June 2017 as voluntary process

guidelines intended for broad use by the market.

The SBP and Green Bond Principles are a set of voluntary guidelines elaborated by key market participants under coordination of the ICMA as its secretariat, which is responsible for advising on governance and other matters, as well as providing organizational support.

The Asean SUS were developed based on ICMA’s Sustainability Bond Guidelines.

Under the guidelines, to be eligible to issue an Asean Social Bond and an Asean Sustainability Bond, Issuers must be incorporated in any of the Asean member-countries. A non-Asean Issuer may also

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HE Philippines is committed to join Japan and five member-countries of the Association of Southeast Asian Nations (Asean) in operating an insurance facility to strengthen financial resilience among Asean memberstates amid climate change and natural disasters.

This was confirmed in a statement issued on Tuesday by Finance Secretary Carlos G. Dominguez III. The statement said Dominguez assured Japan Deputy Prime Minister and Finance Minister Taro Aso of the Philippines’s commitment to sign the memorandum of understanding (MOU) on the establishment of the Southeast Asia Disaster Risk Insurance Facility (Seadrif). The head of the Department of Finance said the signing would occur when the Asean Finance and Central Bank Deputies hold their regular meeting with their East Asian partners Japan, South Korea and China scheduled in Fiji in May. Aso had urged Dominguez to make the Philippines a part of Seadrif during their recent bilateral meeting held on the sidelines of the Annual World Bank-International Monetary Fund (IMF) Spring Meetings in Washington, D.C. “I hope you can consider signing the MOU at the Asean Plus 3 meetings to be held in May. I raised this issue because Cambodia, Indonesia, Laos, Myanmar, Singapore and Ja-

pan have already signed this MOU and this is insurance against natural disasters,” Aso has said. The signing was held at the Asean Plus-3 Finance and Central Bank Deputies Meeting last December 14.

Dominguez said the Philippines will “definitely sign up” for Seadrif since it is already familiar with the insurance facility.

“We are already doing the parametric insurance with the World Bank so we are quite familiar with this, and we will definitely sign the MOU in Fiji,” Dominguez said.

The Philippines successfully placed on the international market in December last year its parametric insurance policy with a maximum cover of P20.49 billion that can provide quick liquidity to national and local governments.

This program provides coverage for national and local government assets against natural calamities, including public elementary and high schools in 25 disaster-prone provinces in the country’s eastern seaboard.

The first product of this facility, which was formed with technical support from the World Bank, is the establishment of a regional catastrophe risk-insurance program for Lao PDR and Myanmar.

By signing the MOU, the countries agree to collaborate on setting up and operating Seadrif, which is initially cochaired by Japan and Singapore. Rea Cu

PNB to acquire bank to boost consumer finance business

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HE Lucio Tan-led Philippine National Bank (PNB) targets to acquire a bank to further strengthen its consumer finance.

In a briefing Tuesday, PNB president and chief executive officer Jose Arnulfo Veloso said they are on the lookout for a bank that “can bring PNB to the next level”, noting that this is the trend among other financial institutions in the country.

He said PNB has a large customer base in the commercial banking space and local corporate space and most of about two-thirds of their branches are in the provinces.

“We would like to be able to have a good consumer finance business which currently is lower than industry…so if we are going to find a bank that we will be able to acquire, our focus will be a financial institution that would complement that business opportunity that we would like to develop,” he said.

Veloso said this decision was made since “the top end and large corporates are overbanked.”

He said foreign banks are now additional competitors for the large corporates after the industry’s liberalization in 2014.

“The commercial banking space will

eventually be challenged and that is where PNB is very strong that is why we are putting the savings bank back into the bank to allow ourselves to have a very good cover of the consumer finance business locally and also to be able to allow our overseas Filipino customers the ability to have a referral back of consumer finance needs into the country,” he said.

He said “on a forward basis, we’ve always been interested to make the Filipino people who are taking the services of money lending investors be a business the PNB will be able to cover on a long term basis.”

He said they aim to have a joint venture with an industry expert to “be able to allow us to have the ability to understand the business, to be able to set up the proper collection and risk taking methodologies (and) to allow us to then be able to be prepared going forward.”

Veloso said they are open to having a strategic partner that will have about 20 to 25 percent share in PNB but clarified that this is not their focus right now.

Veloso said they are set to come out with a digital platform to further reach more customers both here and overseas. PNA

Genesis Kelly S. Lontoc

debt and good debt. Good debt is the type of debt that hopefully yields positive financial returns in the future. When faced with debt, proper management should be done for payment. One common approach is to pay the smaller debt amounts first. Another approach is to pay the debt with the high interest rates first.

The third category is Career and Income. The chosen career must be aligned with a person’s purpose in life. Each one of us has a unique path. Building a good legacy will make our existence worthwhile.

On the aspect of income, one must continuously invest in education and responsibility so that human capital value appreciates over time. Developing multiple streams of income through a good combination of active income and passive income can help support the personal financial goals and monthly budgets we set.

The fourth category is Investing. Saving money in the bank is important and good for liquidity purposes, but the problem is that the interest rates in banks are usually below the inflation rate. Therefore, we need to invest.

Where should we invest? The answer is based on the goal, time horizon and risk profile. Financial assets, real-estate assets and business investments are common examples of investments.

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SSS notes jump in pension loan releases in March

issue Asean Social/Sustainability Bonds, provided the eligible projects are located in Asean. Asean Social/Sustainability Bonds issuances must also be originated from any of the Asean membercountries.

“These guidelines aim to further develop sustainable financing in the local market,” the SEC said.

“Additionally, with the global move towards sustainable development, and the growing demand for sustainable investments, SEC hopes that these Guidelines will assist companies in attracting global investors who have committed to increasing their green and social impact.” VG Cabuag

DOF: PHL committed Applying the financial quotient daily to joining disaster-risk W insurance platform PERSONAL FINANCE H AT ge t s me a s u re d gets done. Life is full of metrics. One popular measure of intelligence is called the intelligence quotient or IQ. It gauges one’s reasoning ability against an average for the person’s age. Another measure is the emotional quotient or EQ. It assesses a person’s capability in managing emotions.

In the context of personal finance, there is a measure called the Financial Quotient or FQ. One popular model was developed by Cindy Yu and Hong Zhang where six relevant categories are utilized to measure how well people manage money. Within the context of daily Filipino life, it would be interesting to note that the decisions we make, whether shortterm or long-term, help determine how high our FQ will be.

The first category is Spending.

This must be based on a personal financial goal and a monthly budget. Spending must always be within what income can provide.

We need to learn the difference between needs and wants. Needs are essentials, and common examples would be those related to food, shelter and clothing. Many wants are nonessentials. Spending on needs can be optimized.

Spending on wants can be optimized and maybe even removed especially for luxuries. The real key to spending is control.

The second category is Credit and Debt. The need for debt happens when spending levels exceed income streams. Sticking to a budget can help avoid debt. We need to learn the difference between bad

Wednesday, May 1, 2019

Due diligence is important and investment options can be chosen based on track record and marketgrowth outlook.

The fifth category is Financial Planning. A plan is a vehicle to achieve a goal. Key priorities in achieving the goal determine the composition of the plan. Financial planning means being able to balance the liquidity needs of the present with the wealth-creation needs of the future. A plan is only as good as its execution. Therefore, financial milestones have to be set and monitored to ensure that we are able to track progress.

The sixth category is Risk and Protection. The only thing certain in life is that the future is uncertain. Having an adequate emergency fund will prepare us well in case adverse events occur. Getting life insurance for ourselves and also nonlife insurance for the valuable assets we own help generate better peace of mind.

Having a high FQ score implies having a well-balanced financial life. The major and minor decisions we make on a daily basis help determine the type of financial future we shall have. Hopefully, the daily conscious desire to achieve a higher level of financial intelligence will pave the way for financial freedom.

Gemmy Lontoc is a Registered Financial Planner of RFP Philippines.

To learn more about personal financial planning, attend the 75th RFP program this April 2019.

To inquire, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-9689774.

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HE Social Security System (SSS) has reported a 53.8-percent jump in terms of the loan releases under its Pension Loan Program (PLP) for March this year.

On Tuesday, the state-run pension fund said the increase in loan releases to retiree pensioners under the PLP amounted to P150.34 million compared to the February figure of P97.748 million.

“We are glad that we were able to reach more pensioners through the PLP with the enhanced guidelines,” SSS President and CEO Aurora C. Ignacio said. “The program will truly serve its purpose of providing for the short-term financial needs of our retiree pensioners.”

In March, the SSS relaxed its guidelines for more than 1.2 million retiree pensioners so that those who are receiving their monthly pension, even for just a month, are already qualified to avail themselves of the SSS pension loan.

Under the old guidelines, a retiree-pensioner must be receiving his monthly pension, for at least six months to qualify for the pension loan.

The agency also allowed for the use of other government-issued identification cards aside from the Social Security card (SS card) or Unified Multi-Purpose Identification (Umid) card in line with the applications under the loan program.

As of end-March, SSS pension loan releases reached P788.664 million to more than 32,872 retiree pensioners, according to the SSS. Among the 166 branches receiving PLP applications, Bacolod branch approved the most number of PLP applications at 2,240 and released more than P47.16 million, while the Diliman branch released the highest amount of pension loans amounting to P48.08 million to more than 1,861 pensioners for the said period.

The SSS launched its PLP in September last year in celebration of its 61st anniversary. It was intended to be offered to retiree pensioners for a period of only one year.

The PLP only has a 10-percent interest per annum, which is a lower interest rate compared to high-interest loan offerings of some financial institutions.

The PLP has become a permanent loan facility of SSS under Republic Act (RA) 11199 or the Social Security Act of 2019, which took effect in March. Rea Cu

Lower trading gains, higher provision for tax drag Security Bank’s income

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ECURITY Bank Corp. reported on Tuesday that its net income in 2018 was P8.6 billion, lower by 16 percent versus 2017 primarily due to a decrease in trading gains and an increase in provision for income taxes.

Nonetheless, the Bank said its core businesses showed continued strong growth last year. Net interest income from customer loans and deposits increased 30 percent compared to 13 percent for the top 10 private domestic universal banks.

Fee income increased 26 percent versus industry’s 11 percent, the bank said in a statement. Bancassurance, which commenced in 2015, has now become the largest fee income contributor.

Security Bank’s retail loan portfolio continued its strong growth momentum, increasing by 47 percent in 2018. Its compounded annual growth rate (CAGR) for the five-year 2014-to2018 period was 53 percent versus the Philippine banking system’s 17 percent.

This growth was driven by all five retail loan products of the Bank, namely, home, auto, credit card, small business and personal loans. Retail loans now account for 20 percent of the Bank’s total loans, versus 7 percent in 2014. Security Bank’s total loan

portfolio has grown by a CAGR of 21 percent versus industry’s 17 percent.

Asset quality remained healthy, with gross nonperforming loan ratio at 0.7 percent, lower than industry’s 1.3 percent. Deposits grew 18 percent, faster than industry’s 9 percent. Security Bank’s deposit growth has consistently outperformed industry in the last five years, growing at a CAGR of 19 percent versus industry’s 11 percent.

Security Bank said it is the best capitalized bank among the top 10 private domestic universal banks.

The Bank’s Core Equity Tier 1 and Total

Capital Adequacy ratios were at 16.4 percent and 18.7 percent, respectively. Return on shareholders’ equity (ROE) was 8.1 percent. Cost-toincome ratio was 53.9 percent versus industry’s 63.6 percent. Total assets grew 10 percent to P767 billion in 2018. 2014-2018 CAGR was 18 percent versus industry’s 11 percent. The Bank paid cash dividends of P3 per share in 2018, same as in 2017.

In his report on 2018 operations, President and CEO Alfonso L. Salcedo Jr. pointed to 2018 as a milestone year. After five years, Security Bank has built the retail banking business as a strong third business pillar of the Bank.

B4 Wednesday, May 1, 2019

DE LA SALLE COLLEGE OF LAW HOSTS M.I.T.-HARVARD PROFESSOR LECTURE

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MALLORCA WORLD FOLK FESTIVAL Suzie Moya Benitez (center), chairman of the Federation of International Dance Festivals (FDAF) Asia, recently sat as juror in a five-men jury at the Mallorca World Folk Festival. The president of the Conseil de Mallorca organized the folk festival, bringing 14 international dance companies together and 26 local groups teaming up with visiting artists to perform in various town plazas and auditoriums from April 1 to 7. The picturesque isle of Palma de Mallorca was the setting for this grand festival. The first-prize winner was the Pirin group from Bulgaria. Secondprize champion was the group from Brazil who happily promised to return in the next festival. The grand finale captured a truly changing and unifying moment, as all 14 dance companies performed the Mallorcan bolero of Santa Maria with precision, projecting vibrancy and oneness. Joining Benetiz are Gurhan Ozanoglu, president of Turkish Folklore Association; and Miguel Enseñat, president of the Conseil de Mallorca.

PREPARING A CHALLENGING CURRICULUM FOR 21ST-CENTURY LEARNERS

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HEN we work together to build for a better future, there are needs and problems that we have to address, especially when it comes to securing a better future for our children. Today, more than ever, there is a need to prepare young learners to participate and become engaged in a rapidly changing world.

At Rex, we work to bring quality learning solutions to the young Filipino learner and help make sure that they are prepared for success in school and beyond, every step of the way. We do this by challenging them with dynamic and engaging content that help them gain a more comprehensive grasp of their curriculum.

By providing frameworks and indicators that serve as guides for proper assessment and decision making based on results, we encourage young learners and stakeholders of education to achieve a set of strategic and evidence-based goals and outcomes. From both the public and private spheres, every activity that a young learner engages in, whether it is extracurricular, cocurricular or community-based, should be designed as experiences that would, later on, influence and shape their success in higher education, for their careers and for their role as citizens of our nation.

Based on the “Whole Child” approach, we involve everyone in the community and foster an open and free environment for learning. This way, a challenging curriculum can be promoted, where every instruction provides equal opportunity for learners to hone their critical thinking and reasoning skills, problem-solving competency and proficiency with technology. This holistic approach also means that schools are encouraged to collect and make sound use of both qualitative and quantitative data crucial to supporting the academic excellence and personal growth of every young learner.

While a challenging learning environment would mean that the curriculum, instruction and assessment have a higher degree of expectation for every learner, it must also be balanced with an insight into how the education they receive today will reflect and shape their lifelong success.

The result is a young learner whose achievements as an individual and as a responsible citizen are blended with global awareness and competencies, and a deep appreciation of language, history and culture.

Learn more of how we work together to prepare and challenge today’s young learners at http://www.rexpublishing.com.ph/whole-child-initiative/challenged/.

HE De La Salle University College of Law (DLSU-COL) hosted a lecture

by Consensus Building Institute director and MIT-Harvard public disputes program associate director David Fairman (in photo), titled “Alternative Dispute Resolution: From angry publics to strategic collaboration”, on March 27 at the university’s Rufino Campus in Bonifacio Global City.

The event, which was organized

by DLSU-COL’s alternative dispute resolution (ADR) class, tackled effective mediation and dispute resolution through collaborative efforts of various stakeholders. It also scrutinized the applicability of ADR in the context of disputes that are bridled with tense emotions, issues of differing values and misinformation. Moreover, the lecture explored how ADR may assist parties in understanding their interests, and in reaching mutually gainful solutions and lasting outcomes.

Fairman has a three-decade career in ADR. For 28 years he has built consensus and enhanced collaboration capacity on complex public and organizational issues internationally and in the United States. His primary focus is

building effective multistakeholder partnerships, organizational strategies and dispute-resolution systems to meet challenges of sustainable development.

In addition to Fairman, the lecture was attended by DLSU COL associate dean lawyer Virgilio de los Reyes and DLSU ADR professor lawyer Brenda Jay Angeles-Mendoza. The chancellor

of the Philippine Judicial Academy Justice Adolfo S. Azcuna, officer in charge executive director of the Office of Alternative Dispute Resolution State Counsel Bernadette Ongoco, and President and founding member of Mediator’s Network for Sustainable Peace Rachel S. Aquino served as ractors and discussants for the event.

WHEN EFFICIENCY MEETS SUSTAINABILITY

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ARDINE Schindler Philippines officially launches its latest personal occupant requirement terminal (PORT) technology-enabled destinationelevator installation at Daiichi Properties’ The Finance Centre in Bonifacio Global City last February.

Schindler Philippines has 25 years of technical expertise in the local industry.

It has strategic offices in Metro Manila, Baguio, Cebu, Davao, Angeles and Iloilo, serving the needs of Philippine companies for world-class elevators and escalators.

It prides itself with its PORT technology, which helps provide tenants with a new and enhanced elevator- and escalatorservice experience.

The PORT technology only requires the identity or destination of a passenger to access a PORT terminal. It takes care of planning and executing a seamless journey using an optimal route designed to take the shortest possible time to complete.

Through this process, not only does it provide an innovative elevator experience, but is also raising the security level of an establishment by limiting access to other floors or destinations.

Schindler Philippines continues its partnership with Daiichi Properties in providing its PORT technology elevator service to the award-winning building The Finance Centre. This premium-grade office tower is the second of the leading developer’s building to be installed with the PORT Technology elevator system.

Prior to The Finance Centre, Schindler also provided its elevator service to another Daiichi Properties’ award-winning building World Plaza, which is also in Bonifacio Global City in 2017.

Raising the benchmark for Philippine real estate, Daiichi Properties has been creating innovative office and residential buildings in Ortigas and BGC. The firm is committed to develop buildings that are sustainable and environmental-friendly,

and are ensured to be earthquake- and typhoon-ready. It also uses state-ofthe-art technologies and innovations to reduce energy consumption and boost savings.

With Daiichi Properties’ strong commitment of developing green and sustainable buildings, Schindler’s PORT technology meets today’s environmental challenges by managing trips made by the 42-story building’s elevators, so passengers are transported in the most efficient manner possible. Furthermore, the equipment has been designed to use a reduced level of power consistent with many features it provides. Schindler is committed in advancing PORT technology to minimize total building-energy consumption while ensuring that the energy that is used provides optimum environment for the tenants.

“Daiichi Properties’ The Finance Centre is strategically located at the heart of BGC, and has targeted key and highprofile tenants. In addition, focusing on sustainability, and advanced technologies and innovation clearly provides them a competitive edge. With Schindler’s PORT technology, they have the potential to remove many of the existing constraints

on interior layouts, thereby, allowing architects greater creative freedom when designing next-generation buildings.

Buildings of the future, like The Finance Centre, provides [a] truly differentiated service level essential to successfully attracting tenants in today’s highly competitive commercial real-estate market,” said Peter Schwarer, managing director, Jardine Schindler Philippines.

Daiichi Properties’ The Finance Centre is an award-winning commercial space earning the 5-Star Best Office Development Philippines in the 20162017 Asia Pacific Property Awards. It is also LEED pre-certified Gold and is registered with the Philippine Economic Zone Authority as an IT ecozone.

In photo are (from left) Enrico Morales, Jardine Schindler Elevator Corp. national key account and marketing manager; Rey Macaraig, JSEC new installation sales head; Akash Srivastava, JSEC new installation director; Peter Schwarer, managing director; Arch.

Rey Fuentez, Daiichi vice president of the project management group; Engr. Bernard Parajado, Daiichi project director; and Engr. Noel Villena, Daiichi project director for MEP.

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Sports

ednesday, May 1, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

C1 | W

ENVER—The Denver Nuggets avoided both an emotional letdown and another Damian Lillard masterpiece.

Forty-eight hours after dispatching the Spurs in their first Game Seven triumph in 41 years, the Nuggets rode a 37-point performance from Nikola Jokic to a 121-113 win over the well-rested Portland Trail Blazers in the opener of their second-round series on Monday night.

Lillard, who struck for 50 points, including a 37-footer at the buzzer to oust Oklahoma City in five games, scored two more points than Jokic. But he had a-half dozen turnovers, missed eight of 12 three-point attempts and Gary Harris blocked his three from behind in the closing minute to keep the Trail Blazers from closing in.

“We just made him uncomfortable,” said Jamal Murray, who added 23 points and eight assists for Denver to go with just one turnover.

Despite logging 41-and-a-half minutes after playing 43-and-a-half two nights earlier, Jokic continued his playoff coming-out party by dominating once more. He made 11 of 18 shots, and all 12 of his free throws to go with nine boards and a half dozen assists.

“He’s a sponge,” Paul Millsap said. “He picks it up. He sees how people are playing him and guarding him and he makes the right play every time. That’s what’s great about him—he doesn’t force anything. Everything is going to be the right play. He’s going to make the right reads. He’s like a quarterback out there.

“I consider him like a Tom Brady—he’s always going to pick you apart and make the right reads. Commend him for doing that at this stage in his career. It’s unbelievable.”

Denver Coach Michael Malone was more concerned about his team’s emotional state than his players’ physical state after a hard-fought series with San Antonio while the Blazers, making their sixth straight playoff appearance, were enjoying nearly a week off.

“Saturday night, an emotional high, winning a Game Seven, that was part of my biggest concern about tonight,” Malone said. “Obviously you’re worried about guarding them but how would we react from that emotional hangover? I thought our guys did a pretty good job.”

Game Two is on Wednesday night at the Pepsi Center.

The Nuggets were coming off a 90-86 win over San Antonio 48 hours earlier, their first Game Seven victory since May 3, 1978, against Milwaukee.

That, said Jokic, was “a really good game for us. It’s Game Seven against an experienced team and I think the level of physicality, the level of pace was at a really, really high level that night. It was a really tough game for us to win and we won it. It gave us an example of how we need to play.”

That’s exactly the kind of mettle Malone was looking for from his team, the youngest in the West.

The Trail Blazers got a boost from Enes Kanter, who separated his left shoulder in Game Five against the Thunder. He scored 26 points in his return to the lineup.

“Enes was terrific, very efficient, finished around the basket playing through the shoulder injury,” Blazers Coach Terry Stotts said. “I couldn’t have asked any more of him.”

Kanter was more concerned about facing Jokic.

“I didn’t even think about my shoulder,” Kanter said. “It’s the playoffs.”

The game was marred by 30 turnovers, but the Blazers turned 12 takeaways to just six points, while the Nuggets turned Portland’s 18 turnovers into 23 points.

“I think today’s game was really sloppy,” Jokic said.

“There wasn’t much defense.”

“It was a good offensive game but I thought the turnovers really made the difference,” Stotts said.

NORMALLY extremely private, Gregg Popovich says he is negotiating a new deal with the Spurs after his current contract expires this season. AP

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ORONTO—Jimmy Butler’s big game helped Philadelphia snap a lengthy losing streak in Toronto and, more important, brought the 76ers level in their Eastern Conference semifinal series.

Butler had 30 points and 11 rebounds, James Ennis scored 13 points and the 76ers held on to beat the Raptors, 94-89, on Monday night, knotting the series 1-1.

It was Philadelphia’s first win in Toronto since November 10, 2012, snapping a 14-game losing streak.

“Everybody wants to paint the picture that we haven’t won here in however many years,” Butler said. “I’m just glad that we came out on top. We don’t care how many games we’ve lost, nothing like that.”

Butler scored 12 in the final quarter to help the 76ers withstand a late Toronto rally.

The Associated Press

By Ian Harrison

“He was just a tremendous rock,” Coach Brett Brown said. “He willed us to a lot of different situations. He was a stud.”

Butler scored just 10 points in Game One, when he shot four for 12.

“Jimmy Butler is a gamer,” Raptors Coach Nick Nurse said. “He wasn’t going to be quiet this whole series.”

Game Three is on Thursday night in Philadelphia.

Down 19 in the first half, Toronto cut the deficit to one late in the third, only to go cold to start the fourth, missing six of its first seven shots.

The Raptors kept coming, however. Kyle Lowry made 3-pointers on both sides of a pair of foul shots by Butler cutting it to 90-87 with 1:36 to go. Toronto got the ball back, and Pascal Siakam scored on a layup to make it a one-point game, but Joel Embiid answered with a driving shot at the other end, restoring the three-point advantage with 24 seconds left.

After Lowry nearly turned the ball over, Danny Green

missed a potential tying three, and Philadelphia’s Tobias Harris came up with the rebound, his 11th. Harris was fouled and sealed it by making a pair with 3.9 seconds left.

“We got lucky there at the end,” Brown said.

Embiid scored 12 points in 32 minutes despite missing the morning shootaround because of flu-like symptoms. Brown said Embiid received intravenous fluids before the game.

“Full credit all over the place to Joel,” Brown said.

Embiid acknowledged feeling rough, but refused to sit out.

“There’s no way I was missing this game,” he said. “This game was really important to us. It doesn’t matter what I had, I was going to play.”

Kawhi Leonard scored 35 points, Siakam had 21 and Lowry 20. Toronto shot 10 for 37 from three-point range, and 33 for 91 overall as its franchiserecord five game postseason winning streak came to an end.

“We didn’t play well tonight,” Lowry said. “They

played really desperate and played super hard tonight and they got a victory.”

Toronto missed six of its first eight shots, matching the number of misses it had in the first quarter of Game One, when the Raptors made 16 of 22. Toronto shot seven for 24 in the first, and missed its first seven from 3-point range before Norm Powell connected.

Butler scored six points for Philadelphia, who led 26-17 after one. Toronto got 17 from both Leonard and Siakam in the first quarter of Game One, when they scored 39 points.

Ennis and Butler each scored seven points in the second and Philadelphia led 51-38 at the half.

Leonard scored seven more as Toronto used a 13-4 run out of the break to cut the gap to 55-51. Leonard had 11 points in the third and Siakam had seven. Toronto trailed 61-60 with 2:50 left in the quarter but Embiid made four free throws before the quarter ended and the 76ers took a 69-63 lead to the fourth.

JIMMY BUTLER scores 30 points as the 76ers beat the Raptors, 94-89, to even their series. AP

SIXERS TIE SERIES

PORTLAND’S Maurice Harkless reaches for the ball as Denver’s Nikola Jokic throws a pass in the second half of Game One on Monday. AP

Jokic’s 37 points power Nuggets past Portland D

BusinessMirror

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AN ANTONIO—The Spurs suffered through an odd, erratic season filled with injuries, strife and drama before a second straight ouster from the playoffs in the first round.

Gregg Popovich enjoyed it so much he is coming back for a 24th season as coach in San Antonio.

Normally extremely private, Popovich said on Monday he is negotiating a new deal with the Spurs after his current contract expired this season. There was some uncertainty surrounding his return, but the 70-year-old Popovich put an end to that with a quip or two.

“I’m currently in negotiations and could very well end up with either the Portofino Flyers or the Positano Pirates [or the Spurs],” Popovich said dryly. “I think it’s like one-third Positano, one-third Portofino and onethird San Antonio. So, we’ll see where I end up.”

There is little chance Popovich ends up anywhere but San Antonio, where he has enjoyed unprecedented success. His desire to return was apparent during an 18-minute news conference to wrap up a season that ended with a loss to the Denver Nuggets in Game Seven of their first-round series.

Popovich has1,245 wins, third-most in National Basketball Association (NBA) history behind Don Nelson and Lenny Wilkens, and is one of five coaches to win five NBA championships. He will coach USA Basketball in the Fiba World Cup in China this summer, and will coach the Americans in the Tokyo Olympics next summer should the team qualify.

The Spurs have reached the playoffs the last 22 seasons, a streak that ties for the longest in NBA history.

Many doubted the Spurs would continue that streak this season with all the turmoil and turnover.

A year ago, Kawhi Leonard played in only nine games while nursing a right thigh injury. Reportedly upset with how his rehabilitation was handled, Leonard forced his way out of San Antonio in the offseason and was sent to Toronto along with Danny Green in a trade for DeMar DeRozan and Jakob Poeltl.

The Spurs also lost Manu Ginobili to retirement and Tony Parker left the team in free agency along with veteran Kyle Anderson.

“I didn’t know what to expect, to be honest,” Popovich said. “I didn’t know how this group would respond to that kind of adversity, but they showed us a lot in continuing with the program and trying to do what we wanted them to do. So, that was very impressive to me.”

San Antonio had eight new players on its roster this season, the most in Popovich’s tenure. That turned out to be one of the highlights for the veteran coach.

“It was kind of one of the more enjoyable seasons because you got to see people develop,” Popovich said.

If that wasn’t enough to overcome, the Spurs also lost starting point guard Dejounte Murray to a season-ending knee injury in the preseason and his replacement, Derrick White, missed the first month with a knee injury.

In one four-game stretch, the Spurs lost three games by 30-plus points; in Popovich’s first 1,758 regular-season games as coach, the Spurs had only lost by 30-plus five total times. Of course, they also won five straight games by 25-plus points for the first time under Popovich and ended up seventh in the Western Conference as DeRozan and veteran LaMarcus Aldridge helped carry the team’s young roster.

“I think that when we all reflect on the season, they achieved a lot more than a lot of people gave them credit for having the opportunity to achieve,” Popovich said.

San Antonio was able to reach the postseason while also developing young players like White, Poeltl and Bryn Forbes on the court and prepping rookies Lonnie Walker IV, Chimezie Metu and Drew Eubanks in the G League.

“It’s the beginning of a new culture for a new group,” Popovich said. “So, we’ll have a little bit of corporate knowledge going into next season and they’ll show that, I think.” AP

POPOVICH NEGOTIATES NEW DEAL WITH SPURS

Spo

Business

C2 Wednesday, May 1, 2019

GOLDS GALORE FOR PHL ATHLETES IN ARAFURA GAMES DOWN UNDER T

HE Philippines scooped 10 gold medals on Monday in the Arafura Games and surpassed the country’s haul eight years ago when the multisports competition was held before going into a hiatus.

The Filipino athletes finished the third day of competitions in Darwin, Australia, with 28 gold medals, exceeding the haul of 27 mints in 2011.

The Philippines also has 41 silver and 24 bronze medals in the campaign supported by the Philippine Sports Commission and Standard Insurance.

Zoe Marie Hilario won two gold medals in swimming—including the women’s 15 to 16 years old 200m backstroke where she recorded a new Arafura Games record of two minutes and 30.63 seconds, breaking the 2:47.69 she set during the heats.

Hilario also ruled the 200m individual medley with a time of 2:28.76.

Ivo Nikolai Enot grabbed his second gold medal in the men’s 13 to 14 years old 200m

backstroke in a record time of 2:21.42 seconds, surpassing the Games previous standard of 2:24.70 he himself set in the heats.

Ray Martin Yarra and John Martin Yarra also smashed Arafura Games records after winning the men’s 13 to 14 year old 200m butterfly (2:25.59), men’s 17 and 200m butterfly (2:15.05).

John Paul Elises and Samuel Alcos also broke Arafura Games’s standards in the men’s 15 to 16 years old men’s butterfly (2:14.47) and the 17 and over 50m backstroke (29.77).

Romel Bautista won the men’s 400m hurdles, while the men’s and women’s 4x400m relay captured the gold in athletics.

Phillip Delarmino and Ryan Jakiri, however, lost in their preliminary bouts in muay.

Boxing starts on Wednesday at the Darwin Convention Centre while the basketball team goes up against New Caledonia at the Marrara Indoor Stadium.

Ariel Lampacan will also compete in muay at the Darwin Convention Centre.

WESTERN VISAYAS’S Alexie Kouzenye Cabayaran sets a new freestyle record as the participants in archery take their aim in the Palarong Pambansa in Davao City on Tuesday. NONOY LACZA

By Ramon Rafael Bonilla

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AVAO CITY— Western Visayas’s Alexie Kouzenye Cabayaran broke a five-year record in swimming and Cagayan Region’s Algin Gomez doubled his gold-medal production in athletics on the second day of action in the Palarong Pambansa on Tuesday.

The 12-year-old Cabayaran, swimming out of Silay City, clocked two minutes and 15.76 seconds to win the 200m freestyle elementary girls, erasing the 2:16.72 Palaro record Imee Joyce Saaverdra set in 2014.

Cabayaran’s golden performance helped Western Visayas’s bid in the medals race as the region’s haul of 12 gold, six silver and seven bronze medals threatened frontrunning National Capital Region’s harvest of 12-11-7.

“I train mornings and afternoons, everyday. My coach told me not to give up. I’m very happy with this win,” said Cabayaran, who took swimming to combat asthma.

Triza Haileyana Tabamo (2:21.36) of Central Luzon clinched silver and Liaa Margarette Amoguis (2:22.58) of Davao Region bagged bronze.

Cabayaran—owner of three gold, two silver and one bronze medals from last year’s Palaro in Vigan—wanted to go five-offive here. She is competing in the 100m backstroke, 100m freestyle, 50m freestyle and 200m butterfly.

As expected, the Big City athletes made huge waves in swimming with three gold medals in the morning session alone.

Camille Lauren Buico clocked 29.06 seconds to win the 50m butterfly for secondary girls, Marc Dula submitted 29.67 seconds to dominate the 50m butterfly

SILAY, CAGAYAN VALLEY BETS SPARKLE IN PALARO

for elementary boys and Miguel Barreto timed 4:08.68 to reign supreme in 400-m freestyle for secondary boys.

After ruling the long jump for secondary boys on Monday, Gomez topped the triple jump with 14.62 meters. John Mike Lera of Northern Mindanao chalked up 14.60 meters to settle for silver while Clint Niño Neri of the National Capital Region settled for the bronze with 14.60 meters.

Veruel Verdadero, the bemedalled sprinter who now represents NCR, couldn’t replicate his mastery of the secondary boys 100m and yielded to Vince Jayson Buhayan late on Monday afternoon.

Buhayan, running for Western Visayas, zoomed to the gold medal in 10.62 seconds, outsprinting Verdadero who settled for silver in 10.81 seconds.

Completing the podium was Alhyryan Labita of Calabarzon who checked in at 10.84 seconds.

In the 100m for secondary girls, Decerie Niala of Central Visayas clocked 11.98 seconds to take the gold medal, followed by Lianne Pama of Northern Mindanao with 12.10 seconds and Trexie de la Torre of Western Visayas with 12.43 seconds.

In taekwondo, Western Visayas hauled six gold medals in secondary boys and girls poomsae, while in chess, Calabarzon flexed its muscle by taking four gold medals in blitz individual and team events.

START ‘EM YOUNG Kids hone their skills in the National Capital Region Football

The Nationals second conference unfurls with Dota 2 competition

Association Summer Youth League which kicked off recently at the British School Manila.

Blu Girls start Tokyo Olympics quest at Jakarta Women’s Softball Asia Cup

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HE Blu Girls’ quest to represent the Philippines in the Tokyo 2020 Olympics is now in full swing as the national women’s team sees action in the Women’s Softball Asia Cup in Jakarta beginning on Wednesday.

The Blu Girls will go head-to-head against the best teams in Asia—including reigning champion Japan, Taiwan and China—in the action-packed four-day competition.

The top six teams will head to the AsiaOceania Olympic Qualifier in September while the top three will advance to the qualifiers for the 2021World Softball Championships.

Amateur Softball Association of the Philippines President and Softball Asia Vice President Jean Henri Lhuillier said the Blu Girls have what it takes to make the Olympics, “The Blu Girls have shown in the past that they have what it takes to beat the top teams in the world through their unique mix of talent, determination and grit in the field,” Lhuillier said. “We were able to defeat top four teams in the world—Australia and Canada, Mexico and

Asian powerhouses China and Chinese-Taipei.”

“I strongly believe that they are due for a podium finish in Jakarta. The Blu Girls are our best chances for the Olympics, and I am committing my 100-percent support to them to make this happen,” Lhuillier added.

Leading the team is Coach Randy Dizer, who has been at the helm of many gamewinning plays since the girls’ resurgence in the international stage. Supporting Dizer is assistant Coach Ana Santiago, as well as team captain Cheska Altomonte.

The team is composed of Angelie Ursabia, Arriane Vallestero, Mary Ann Antolihao, Lyca Basa, Ezra Jalandoni, Royevel Palma, Shaira Damasing, Cristy Joy Toa, Reizel Calumbres and Fil-Am recruits Garie Blando, Chelsea Suitos, Sky Ellazar, Hailey Decker, Amber Freeman and Gabriella Elvina.

The team faces Singapore at 8:30 a.m. on Wednesday, before closing Day 1 with a game against Hong Kong at 2 p.m. The Blu Girls meet Chinese-Taipei at 3 p.m. on Friday.

T

THE Blu Girls, with the support of sportsman Jean Henri Lhuillier, are in harness for the Olympic qualifiers in Jakarta.

HE Nationals returns from a successful first conference with an even more exciting second conference of Dota 2 as action begins on Labor Day on Wednesday at the Gariath Concepts in Eastwood City in Libis, Quezon City.

“The league’s first conference has been very successful, but The Nationals have bigger things in store,” Commissioner Ren Vitug told Tuesday’s Philippine Sportswriters Association (PSA) Forum at the Amelie Hotel-Manila.

“Hopefully, we can better show our vision this upcoming conference.”

The Cignal Ultra Warriors aim for backto-back titles after beating the Suha-XCTN Punishers in the grand finals of the seasonopening conference last month. They earned P400,000 in cash.

Cignal will see action on opening day against PLDT-Smart Omega, which, despite finishing third in the previous conference, is considered one of the most formidable teams in the league.

The day’s other match pits first conference runner-up Suha-XCTN Punishers against Bren Epro, with the Punishers playing with

a reformed roster. Happy Feet Emperors, a team that also modified its roster in between conferences, drew a bye.

The league will again give away P400,000 to the champion, P200,000 to the second placer and P100,000 to the third placer.

The league will follow the same format as the first conference—a double round-robin two-game series across all teams. The three best teams after the group stage will advance to the playoffs, with the top performer being seeded into the grand finals.

The Nationals is the country’s premier eSports league and the contested Dota 2 is one of three games that will be featured in the competition’s first year.

Mobile Legends: Bang Bang and Tekken 7, two of the country’s biggest games on mobile and console respectively, will be featured later this year.

For more information about The Nationals, follow the league through its social-media platforms Facebook (with live stream of games), Twitter and Instagram at PHNationals.

It also aired on 5Plus via ESPN5 and One Sports and eGG Network via CignalTV.

orts

sMirror

Wednesday, May 1, 2019 C3

Blue Dragons rip Wang’s dribblers

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ILIMAN College-Gerry’s Grill fanned its hopes for a playoff berth with a 108-95 drubbing of Wang’s Basketball on Tuesday in the Philippine Basketball Association Developmental League at the JCSGO Gym in Cubao, Quezon City.

Beninese big man Kevin Gandjeto scored a teambest 33 points on top of 17 rebounds, three steals and two blocks as the Blue Dragons pulled up to an even 3-3 standing.

Joseph Brutas drained 19 points built on six treys, while Marco Balagtas recorded a double-double with 20 points and 11 rebounds.

The victory was a big morale-booster for DilimanGerry’s as coach Rensy Bajar believes that his side can snag a top 4 finish in the Foundation Group.

“The way we’re playing, we’re starting to pick up. I think we can show some more and play good basketball,” he said.

The Blue Dragons seized an early 40-21 lead and extended it to 23, 62-39, behind Gandjeto and Brutas, but saw the lead dip to as low as eight, 70-62, with 2:18 left in the third quarter.

Brutas, though, would nail a pair of triples to end the period as Gandjeto stablized the game in the final canto.

Axel Inigo poured 33 points and five rebounds in the losing effort for the Couriers, while Arvin Tolentino had 16.

It was Wang’s third straight defeat to sink to 3-4.

MAROONS BACKER

Stats Performance Apparel, an “athleisure” brand under Januarius Holdings Inc. (JHI), expands its support for the University of the Philippines Fighting Maroons for the University Athletic Association of the Philippines Season 82. Shown below are JHI Chairman and Chief Executive Officer JJ Atencio (left), Chief Operating Officer Marcy Venezuela (right) and Performance Apparel CEO and Art Director Edrin Panganiban (second from right) with UP varsity programs President Atty. Agaton Uvero (center), Head Coach Bo Perasol, Season 81 Most Valuable Player Bright Akhuetie, Janjan Jaboneta, Noah Webb and the Gomez de Liaño brothers, Juan and Javi, at the Bahay ng Alumni.

SMB-MAGNOLIA BATTLE UNFURLS D

EFENDING champion San Miguel Beer opens its quest for an unprecedented fifth straight allFilipino crown when the Beermen take on the Magnolia Hotshots in Game One of their Philippine Basketball Association Philippine Cup best-of-seven Finals series on Wednesday at the Smart Araneta Coliseum.

The favored Beermen and Hotshots take the floor at 7 p.m.

San Miguel Beer has all the ingredients to defend the throne in a rematch with their victims in the same conference last season with the Beermen getting enough rest after booking a five-game romp of the Phoenix Fuel Masters in the semifinals.

Also, the coaching staff of the Ramon S. Ang franchise has tinkered with the roster that made the team more formidable.

Then rookie Christian Standhardinger will now be in the lineup after he missed the Philippine Cup because of his commitment in the Asean Basketball League and certified scorer Terrence Romeo has also joined the squad following a trade with TNT. The addition of Standhardinger and Romeo are more than enough to complement the firepower of five-time Most Valuable Player June Mar Fajardo.

Head Coach Leo Austria said his players are ready to do battle in a territory they have become too familiar with.

“My players know what is at stake here.

Winning is a lifestyle for us. We have that great passion for winning,” Austria said. “More than the championship, we’re eyeing a legacy here.”

Besides the San Miguel “Big Three,” Austria has a deep bench to rely on—Chris Ross, Arwind Santos, Alex Cabagnot and

Marcio Lassiter.

Magnolia Coach Chito Victolero, on the other hand, knows his intact lineup is up for the challenge.

“Since last year, we added only one player, and that’s our rookie Michael Calisaan,” Victolero said. “The core group of this team is close, our bond is that strong. Of all the teams, we have the best chemistry. That’s our edge and that will help us through like always even against this mighty SMB team.”

Paul Lee, Jio Jalalon, Justin Melton, Marc Barroca and Ian Sangalang are expected to lead the Hotshots’ charge.

Fajardo, meanwhile, kept his big lead for a record sixth straight All-Filipino Best Player of the Conference award.

Through the semifinals where San Miguel clobbered Phoenix in five games, the 6-foot10 Fajardo has averaged 20.6 points, 13.1 rebounds, 2.4 assists and 1.7 blocks.

These numbers pushed the five-time Most Valuable Player to an average of 41.4 stats points per game (SPs) and a wide gap over three NorthPort players and TNT guard RR Pogoy in the top 5 of standings.

Batang Pier Sean Anthony (37.1 SPs) and Stanley Pringle (34.8 SPs) placed second and third, respectively, followed by Pogoy (33.6 SPs) and NorthPort big man Tautuaa (33.1 SPs).

Rounding up the top 10 are Phoenix’s Calvin Abueva (31.6 SPs), San Miguel’s Alex Cabagnot (31.6 SPs), Magnolia’s Ian Sangalang (30.5 SPs), Phoenix’s Matthew Wright (30.4 SPs) and Barangay Ginebra’s Japeth Aguilar (30.1 SPs).

In the Rookie of the Year race, Columbian’s CJ Perez (28.7 SPs) leads NorthPort’s Robert Bolick (22.8 SPs) and Rain or Shine’s Javee Mocon (22.2 SPs).

EXPECT June Mar Fajardo to always bring his A game for San Miguel Beer, and so will Paul Lee for Magnolia.

Ramon Rafael Bonilla

ACC ACCEPTS PHILCYCLING BID TO HOST BMX CHAMPIONSHIPS

T De La Salle vs UST for No. 2 in semis

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EFENDING champion De La Salle and University of Santo Tomas (UST) collide on Wednesday to determine who ends up as the No. 2 seed for a twice-to-beat bonus in the semifinals in the University Athletics Association of the Philippines Season 81 women’s volleyball tournament.

With the Ateneo Lady Eagles securing the top spot and the Far Eastern University (FEU) Lady Tamaraws already settled at fourth place, the Lady Spikers and Golden Tigresses take the floor at 3:30 p.m. at the Filoil Flying V Centre in San Juan City.

FEU foiled the twice-to-beat ambitions of De La Salle with a 22-25, 25-13, 25-15, 25-27, 8-15 win on Sunday.

It could have been easier for the reigning titlists Lady Spikers to nab the bonus if they beat the Lady Tamaraws, but the Lady Spikers failed to escape their hard-fighting foes in a five-set thriller.

The loss relegated the three-time champions to a record of 10 wins and four losses to tie the Tigresses at second and third places after the eliminations.

The Tigresses, on the other hand, closed the elimination round with a four-game winning streak.

UST beat De La Salle in the first round, 25-20, 25-22, 25-17, while the Taft-based team exacted revenge in the second round, 21-25, 25-23, 2519, 26-24. Ramon Rafael Bonilla

Viray twins shine in Lingayen Open

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AN Beda twins Nieza and Ella Viray overwhelmed Pangasinan 3’s Dada Martin and Jasmin Ocado, 21-7, 21-12, for a winning start in the BVR On Tour: Lingayen Open on Tuesday at the Capitol Beachfront here.

The Viray twins showcased the stuff that gave their school two National Collegiate Athletic Association titles to emerge victorious in their Pool A debut.

The Virays later secured a spot in the quarterfinals with Bea Tan and Dij Rodriguez after Perlas, seeking to rebound from last weekend’s second-place finish in Dumaguete City, downed Pangasinan 3, 21-12, 21-3.

In men’s action, Air Force 1’s Jade Becaldo and Mike Abria found Army 2’s Jason Uy and Randy Fallorina a tough nut

to crack to nut before carving out a 21-23, 21-19, 15-7 victory.

Becaldo and Abria, former two-time Boracay beach volleyball champions, who were reunited and placed second in Dumaguete over the weekend, are installed as heavy favorites.

Bingle Landicho had a successful return in the sand court for NU Boysen 2 with Kath Epa as the duo turned back Rizal Techonological University’s Myla Lim and Hannah Patrocenio, 21-13, 21-11, and so is Kly Orillaneda, who joined forces with Roma Joy Doromal in NU Boysen 1’s 21-10, 21-8 conquest of Air Force 2’s Mikaela Andres and Angel Antipuesto.

Despite the loss, Andres and Antipuesto, who bested Pangasinan 2’s Tricia Abalos

HE Asian Cycling Confederation (ACC) has elevated the Philippines’s bid to host the 2020 Asian BMX Championships to the continental body’s management committee meeting set later this year.

This was confirmed by ACC Secretary General Onkar Singh to PhilCycling during the confederation’s congress last Friday at the International Hotel Tashkent in Uzbekistan that coincided with the Asian Championships for Road.

So far, only the Philippines signified an interest to host the championships, whose 2019 edition was held last month in Kuala Lumpur where Filipinos Patrick Coo won gold in the men junior category and former Asian Games champion Daniel Caluag finished fourth place after skidding in the first turn in the elite class.

PhilCycling President Rep. Abraham “Bambol” Tolentino welcomed the ACC’s acceptance of the national sports association’s intention to host next year’s

championships at the International Cycling Union (UCI)-regulation BMX track that is being built in Tagaytay City for the 30th Southeast Asian Games.

“We are hopeful of the ACC approval of our bid to host the Asian championships at the world-class track in Tagaytay City,” Tolentino said. “With the new UCI track, we can host even the world championships given the existing facilities that Tagaytay City offers.”

The Philippines has hosted the Asian road championships in 1965, 1977, 1983 and 1995. The PhilCycling included BMX as a demonstration event in the 2005 SEA Games the country hosted ahead of the disciplines inclusion as a medal event in the Beijing 2008 Olympics.

Knights on cloud nine over national championship

T

HE San Juan Knights know they have become the yardstick of Maharlika Pilipinas Basketball League (MPBL) teams now that they are the league’s first national champions.

But they are up to the challenge of defending their title when the league opens its new season on June 12.

“We know that the other teams are tinkering with their rosters, but we are ready,” said Randy Alcantara, coach of the newly crowned champions who defeated the Davao Occidental Tigers on the road in the deciding Game Five of their title series, 87-86, to win the Datu Cup. Five days after their conquest, Alcantara

and Abigail Guzman, 21-12, 21-12, in their opening Pool B match, remains in quarterfinals contention.

University of the Philippines’s alums Pam Legaspi and Aliyah Ong made quick work of Pangasinan 1’s Lyka Aquino and Princess Cabalteja, 21-9, 21-15, in the other women’s morning match.

Other men’s games saw Army 2’s Jason Uy and Randy Fallorina defeating FEU’s Kevin Hadlocon and Ralph Justin Dablo, 22-20, 21-13; Mapua’s Jeremy Santos and Benneth Abellada beating Baguio’s Jason Salonga and Paul Pangidian, 21-8, 21-9; and Fury’s Greg Utupo and Pemie Bagalay prevailing over RTU’s Peter Galvan and Cesar Sebastian, 21-10, 21-13.

Action resumes on Wednesday with the quarterfinals starting at 7 a.m., with the semifinal and finals to be played in the afternoon.

and the Knights graced the weekly Philippine Sportswriters Association (PSA) Forum at the Amelie Hotel-Manila on Tuesday where they savored the feeling of having to go through the eye of the needle in beating the Tigers and frustrating the capacity crowd at the Rizal Memorial Colleges gym to cheer the home team.

“Coach Randy said we’ll get payback in Game Five and we beat them on their home court— and that hurts for them, to be beaten before in your turf,” said finals hero Jhonard Clarito, who scored the Knights’ last six points including a pressure-packed basket in the final eight seconds that clinched the dramatic win for San Juan.

Clarito was joined by teammates Mike Ayonayon, veteran John Wilson, team executive Chris Conwi, team patron Jeremy Go of Go For Gold and MPBL Commissioner Kenneth Duremdes in the session presented by San Miguel Corp., Tapa King and the Philippine Amusement and Gaming Corp.

Cohesiveness and experience were the Knights’ biggest edge over the rest of the field, which augurs well in their bid for a back-to-back title.

“Our advantage is we have the championship experience—the heart of a champion,” said Alcantara, who proudly wore the MPBL championship ring reportedly worth P100K during the forum.

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

Validation for Victolero, more accolades for Austria

WILL San Miguel Beer easily defeat Magnolia in their Philippine Basketball Association (PBA) Philippine Cup Finals that will start today at the Smart Araneta Coliseum in Cubao, Quezon City?

To the scarred observers of the league, the answer is a resounding yes.

But don’t tell that to Magnolia fans.

The Beermen maybe the hands-down favorites to win the best-of-seven series, mainly because they have both the depth and unassaible experience.

However, the Hotshot might just prove to be a tough customer this time, judging from the way they’ve been playing from the last conference up to the season’s opening jewel.

For one, Magnolia is fresh from winning the Governors’ Cup, the triumphal experience easily making the Hotshots instant championship material.

For another, Magnolia showed the guts of a worthy title contender in its semifinal war against Rain or Shine.

Down two games, the Hotshots did not just tie the series with aplomb, they made it 3-2 as though stringing up three straight wins was as easy as tying your shoelaces.

And how about this?

After Rain or Shine had forced a Game Seven and next sped to a 17-point, 39-22 third quarter lead in the rubber match, Magnolia magnificently resurrected itself.

First, the Hotshots, behind mainly Ian Sangalang, nailed a 55-55 deadlock with ticks left in the game.

Second, Magnolia, behind the 6-foot-8 Rafi Reavis, forged overtime when Reavis blocked a potential game-winner by James Yap at the buzzer.

Reavis wasn’t done.

In overtime, he was Mr. Do It All, unmindful of his pair of 41-year-old knees starting to creak in the five-minute extension.

And so, with his 20 rebounds to go with his timely nine points punctuated by his crucial putback at crunchtime, Reavis practically lifted Magnolia to a second straight Finals appearance in the All-Filipino series.

But for sure, Reavis will need more than those Sunday sorties when he is pitted, again, against June Mar Fajardo, the 6-foot-11 bulwark of power from San Miguel, in the race-to-four war between sister teams, yes, but each one motivated to win if only for pride and fame.

If Magnolia Coach Chito Victolero is dying to win anew, don’t blame him. A second title in a row is but a validation of his Governors’ Cup victory in the last conference.

One can only be a true champion by becoming a repeat champion.

But for SMB Coach Leo Austria, this: A seventh title in nine Finals appearances would further legitimize his niche in PBA coaching history. Already, his 6-of-8 titles is a record of sorts in winning percentages.

It can’t get any better than that.

THAT’S IT Fine that Lheslie de Lima won the 3000m run in the ongoing Palarong Pambansa in Davao City. What isn’t fine is that the 15-year-old lass from Baao, Camarines Sur, ran barefoot. Only goes to show that our sports program has remained backward all these years. At a time when shoes have become hi-tech and crucial to an athlete’s victory on the world stage, here we are still entertaining—even glorifying—the Jurassic position of allowing our athletes to run barefoot in the Palaro. It sucks.

BLIND PARA TRIATHLETES BOND WITH CARGO MOVERS Blind twins Joshua and

Jerome Nelmida, both members of the national training pool for para triathlon of the Triathlon Association of the Philippines, join the F2 Logistics volleyball team at the dugout after the Cargo Movers’ recent match in the Philippine Superliga Grand Prix at the Filoil Flying V Centre in San Juan.

The twins are guests of F2 Logistics President Efren Uy, who has been supporting para triathletes as they prepare for the Asean Para Games 2020.

HA! HA! HA! BE CAREFUL WITH WHAT YOU TWEET! M Sports ELBOURNE, Australia—Australian cricketer James Faulkner has clarified a vague social-media post about his dinner with a “boyfriend” that led to reports that the World Cup star had come out as gay.

Faulkner made a controversial post on Instagram late on Monday and described it on Twitter as having a birthday dinner with a boyfriend—his long-time business partner Rob Jubb—and his mother. The post was followed by three love hearts and a hashtag that implied they’d been together for five years.

The initial message sparked debate over its status as genuine or a hoax. Faulkner, who was voted player of the match in Australia’s 2015 World Cup final win over New Zealand, clarified about 14 hours later that there’d been a misunderstanding. He said he wasn’t gay, but that it was “fantastic to see the support from and for the LGBT community.”

Critics said the 29-year-old Faulkner’s message, which attracted likes from other cricketers and messages of support and encouragement from supporters, was contemptuous of the struggle experienced by some homosexuals and could prevent gay athletes from deciding to go public.

Cricket Australia released a statement early on Tuesday apologizing for any “intended offense,” saying it didn’t consider Faulkner’s social-media post to be a joke, more a reflection on a long friendship.

“His comment was made as a genuine reflection of his relationship with his business partner, best friend and housemate of five years,” the Cricket Australia statement said. “He was not contacted for clarification before some outlets reported his Instagram post as an announcement of a homosexual relationship.”

Cricket Australia said the sport’s national administration and Faulkner were supportive of the LGBTI community and recognized that “coming out can be an incredibly emotional time.”

“The post was not in any way meant to make light of this and, though the support from the community was overwhelming and positive, Cricket Australia apologizes for any unintended offense.” AP

AUSTRALIAN cricketer James Faulkner clarifies “boyfriend” in social-media post.

BusinessMirror

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| Wednesday, May 1, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FORMER US Open champion Sloane Stephens (right) and soccer player Jozy Altidore are engaged. AP

Landmark Semenya verdict announced on Wednesday

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CASTER SEMENYA is by far the most high-profile athlete who the rules would impact, should they be introduced.

HE Court of Arbitration for Sport (CAS) said the verdict in the landmark case between Caster Semenya and the International Association of Athletics Federations (IAAF) will be published on Wednesday.

CAS has been deliberating on what it has labeled one of the most “pivotal” cases in its history.

A verdict had initially been expected to be published on March 26 after five days of hearings in Lausanne during February. The decision was then pushed back until the end of April.

Semenya, a double Olympic and triple world champion over 800 meters, is challenging the IAAF, which is hoping to bring in new rules on female participation.

The IAAF claims the South African and other female runners with high testosterone levels, who compete between 400m and the mile, must either take medication or compete against men.

According to the IAAF, this is to create a level playing field, but the 28-year-old Semenya and others have argued the testosterone in her body is naturally occurring, and so to ban her would be unfair.

In October, the IAAF delayed the implementation of their new rules until the proceedings had concluded.

Semenya is by far the most high-profile athlete who the rules would impact, should they be introduced.

The case has provided heated debate, and Athletics South Africa (ASA) and the United Nations Human Rights Council have both publicly criticized the IAAF. The former had accused the IAAF of breaking rules related to the case earlier this month.

The IAAF had been accused of breaking rules when prior to the start of proceedings in Lausanne, the governing body released a list of expert witnesses it had been set to call.

Semenya’s lawyers described the release as a “clear breach” of confidentiality rules and labelled it an attempt to influence public opinion, before releasing their own list of witnesses the next day.

ASA then accused the IAAF of breaking rules once again after President Sebastian Coe gave an interview to The Daily Telegraph in Australia, in which he said their proposed rule was necessary to protect the women’s category.

“The reason we have gender classification is because if you didn’t, then no woman would ever win another title or another medal or break another record in our sport,” he was quoted as saying.

Semenya’s lawyers said Coe had “reopened old wounds” with his comments, reiterating that the South African is a woman and suggesting that, therefore, to ban her from women’s competition in order to protect women does not make sense.

Insidethegames

RONALDO SCORES 600TH CLUB GOAL M

ILAN—Cristiano Ronaldo’s unrelenting hunger for goals is plain to see.

The Juventus forward netted his 600th club goal on Saturday and celebrated with typical joy. But his desire to score was far more evident in the first half against Inter Milan when he fired over the bar and showed anguish and frustration.

That appeared to spur Ronaldo to the equalizer after the break as Juventus came back to draw with bitter rival Inter, 1-1, in Serie A. “Ronaldo is lethal, I have him and I’m happy,” Juventus Coach Massimiliano Allegri said. “It’s important to have a player like him. After he missed a chance he got very angry, then he played a different game.”

Ronaldo already plays a different game to most. And after alreading clinching a record-extending eighth successive Serie A title, Ronaldo could become the first player to win the top goalscorer award and the Serie A title in his first season in Italy.

The 34-year-old Ronaldo has 20 league goals for Juventus, three less than league leader and Sampdoria

forward Fabio Quagliarella.

He could also become the first player to win the top goalscorer award in three of Europe’s top 5 leagues, having claimed the prize in Spain (three times) and England.

There are four rounds remaining.

Ronaldo has been playing and scoring regularly, even while being accused of raping a woman in 2009 in the United States—something the Portugal star denies.

The strike against Inter Milan was his 27th for Juventus in all competitions. Ronaldo scored 450 for Real Madrid, 118 for Manchester United and five for Sporting Lisbon.

“With him you always start in front, we are lucky to have him with us,” Juventus captain Giorgio Chiellini said. “He will help Juventus win more.”

Earlier in the season, Ronaldo became the first player to net 400 goals across Europe’s top 5 leagues.

Roma fans are starting to believe the reports that Antonio Conte could become the club’s next coach.

With Claudio Ranieri in a caretaker role following Eusebio

She says: Forever yes.

He says: Forever starts now.

T

ALK about matchmaking: 2017 US Open champion Sloane Stephens and soccer player Jozy Altidore are engaged.

Both tweeted the news on Monday, posting a photo and brief message.

Hers said: “Forever yes.” His said: “Forever starts now.”

In addition to winning a Grand Slam title 11/2 years ago, Stephens was the 2018 French Open runnerup and was a member of the 2017 championship US Fed Cup team.

The 26-year-old American currently is ranked No. 8.

The 29-year-old Altidore has scored 41 goals in 110 international appearances since his US national team debut in 2007. He has not played for the Americans since October 2017, when a loss at Trinidad and Tobago prevented them from qualifying for the 2018 World Cup. Altidore has been with Toronto FC in Major League Soccer since 2015. AP Di Francesco’s firing, speculation is rampant that Roma is in talks with Conte about taking over the team for next season.

When Conte, the former Juventus, Italy, and Chelsea coach, was spotted at Rome’s Leonardo Da Vinci Airport on Sunday, Roma fans stopped him for selfies and spread the word on social media—even though it appeared Conte was merely traveling to his home in Turin.

While the Roman-born Ranieri has said he would like to remain with Roma, even he acknowledged the club would do well to hire Conte.

“I would love to see him on the Roma bench, but I don’t know anything: I would be the last to know,” Ranieri said with a smile following Roma’s 3-0 win over Cagliari on Saturday. “I would be super happy if Conte came in. I would go and collect him from the airport.” AP CRISTIANO RONALDO could become the first player to win the top goalscorer award and the Serie A title in his first season in Italy. AP

D

Lord God

EAR GOD, You are our Shepherd and we are the flock.

With trust in Your mercy and love, we pray: God of goodness, receive our humble prayer. Help us to extend the peace, mercy and message of Christ to every person and authority. Make Your Church attentive to those most in need of God’s love and pity. Empower all people to embrace, respect and protect life in all its stages, from conception to natural death. May God save us in our affliction and carry us all our days, through the love and mercy of Jesus. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

MASSACHUSETTS Institute of Technology Prof. and robotics researcher Cynthia Breazeal reaches to touch social robot Jibo at the company’s headquarters in Boston. When robots move like humans and talk like humans, even if only a little bit, it’s natural that we will treat them more like humans. AP

Life BusinessMirror

STUDY: KIDS’ SUICIDES SPIKED AFTER NETFLIX’S ‘13 REASONS’ D3

Wednesday, May 1, 2019

D1

Nokia sees tough competition in market for 5G networks

By Jari tanner | The Associated Press

Be wary of robot emotions; ‘simulated love is never love’

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By raCheL LerMan The Associated Press

AN FRANCISCO—When a robot “dies,” does it make you sad? For lots of people, the answer is “yes”—and that tells us something important, and potentially worrisome, about our emotional responses to the social machines that are starting to move into our lives.

For Christal White, a 42-year-old marketing and customer service director in Bedford, Texas, that moment came several months ago with the cute, friendly Jibo robot perched in her home office.

After more than two years in her house, the foot-tall humanoid and its inviting, round screen “face” had started to grate on her. Sure, it danced and played fun word games with her kids, but it also sometimes interrupted her during conference calls.

White and her husband Peter had already started talking about moving Jibo into the empty guest bedroom upstairs. Then they heard about the “death

NEW FACE OF TECH HUB UNVEILED TAKING the lead in tech and innovation in the country, Cyberzone unveiled its new logo during a recent event at the SM Mall of Asia Atrium. During the big reveal, the brand also underscored its comprehensive roster of the latest tech and gaming products, thus empowering Filipinos to make smarter tech decisions.

“Cyberzone always brings together the best of technology and gaming for its customers. It’s about time that we refresh our brand as we continue to innovate our spaces and deliver the latest in tech in SM malls nationwide,” said Jonjon San Agustin, senior vice president for marketing for SM Supermalls (www.smsupermalls.com).

Launched during the Pinoy Gaming Festival Summer Assembly 2019, Cyberzone’s revamped logo exhibits a sleek and minimalist approach—a perfect representation of how the tech brand has grown to become a one-stop destination for every shoppers’ tech needs.

sentence” Jibo’s maker had levied on the product as its business collapsed. News arrived via Jibo itself, which said its servers would be shutting down, effectively lobotomizing it.

“My heart broke,” she said. “It was like an annoying dog that you don’t really like because it’s your husband’s dog. But then you realize you actually loved it all along.”

The Whites are far from the first to experience this feeling. People took to social media this year to say teary goodbyes to the Mars Opportunity rover when Nasa lost contact with the 15-year-old robot. A few years ago, scads of concerned commenters weighed in on a demonstration video from robotics company Boston Dynamics in which employees kicked a doglike robot to prove its stability.

Smart robots like Jibo obviously aren’t alive, but that doesn’t stop us from acting as though they are.

Research has shown that people have a tendency to project human traits onto robots, especially when they move or act in even vaguely human-like ways.

Designers acknowledge that such traits can be powerful tools for both connection and manipulation.

That could be an especially acute issue as robots move into our homes—particularly if, like so many other home devices, they also turn into conduits for data collected on their owners.

“When we interact with another human, dog, or machine, how we treat it is influenced by what kind of mind we think it has,” said Jonathan Gratch, a professor at University of Southern California who studies virtual human interactions. “When you feel something has emotion, it now merits protection from harm.”

The way robots are designed can influence the tendency people have to project narratives and feelings onto mechanical objects, said Julie Carpenter, a researcher who studies people’s interaction with new technologies. Especially if a robot has something resembling a face, its body resembles those of humans or animals, or just seems self-directed, like a Roomba robot vacuum.

“Even if you know a robot has very little autonomy, when something moves in your space and it seems to have a sense of purpose, we associate that with something having an inner awareness or goals,” she said. Such design decisions are also practical, she said.

Our homes are built for humans and pets, so robots

that look and move like humans or pets will fit in more easily.

Some researchers, however, worry that designers are underestimating the dangers associated with attachment to increasingly life-like robots.

Longtime artificial-intelligence researcher and MIT Prof. Sherry Turkle, for instance, is concerned that design cues can trick us into thinking some robots are expressing emotion back toward us. Some AI systems already present as socially and emotionally aware, but those reactions are often scripted, making the machine seem “smarter” than it actually is.

“The performance of empathy is not empathy,” she said. “Simulated thinking might be thinking, but simulated feeling is never feeling. Simulated love is never love.”

Designers at robotic start-ups insist that humanizing elements are critical as robot use expands. “There is a need to appease the public, to show that you are not disruptive to the public culture,” said Gadi Amit, president of NewDealDesign in San Francisco.

His agency recently worked on designing a new delivery robot for Postmates—a four-wheeled, bucketshaped object with a cute, if abstract, face; rounded edges; and lights that indicate which way it’s going to turn.

It’ll take time for humans and robots to establish a common language as they move throughout the world together, Amit said. But he expects it to happen in the next few decades.

But what about robots that work with kids? In 2016, Dallas-based start-up RoboKind introduced a robot called Milo designed specifically to help teach social behaviors to kids who have autism.

The mechanism, which resembles a young boy, is now in about 400 schools and has worked with thousands of kids.

It’s meant to connect emotionally with kids at a certain level, but RoboKind Cofounder Richard Margolin says the company is sensitive to the concern that kids could get too attached to the robot, which features human-like speech and facial expressions.

So RoboKind suggests limits in its curriculum, both to keep Milo interesting and to make sure kids are able to transfer those skills to real life. Kids are only recommended to meet with Milo three to five times a week for 30 minutes each time. n

HELSINKI—Telecoms gear maker Nokia reported on Thursday a surprise first-quarter loss amid tougher competition for the new, superfast wireless 5G networks that are expected to increase in business this year.

The company, based in Espoo, Finland, said its net loss for the January-March period was €116 million ($130 million), against profit of €83 million a year earlier. Sales rose 2 percent to €5 billion.

CEO Rajeev Suri said revenues from the faster but more expensive 5G networks were expected to “grow sharply” in the second half of the year.

He said the slow start to the year was caused by aggressive competition in the network industry— dominated by Nokia, Sweden’s Ericsson and China’s Huawei—in the early stages of 5G rollout. Companies are under pressure to offer low prices to secure 5G network deals.

That, Suri said, had created “near-term pressure but longer-term opportunity.”

Industry observers say Nokia and Ericsson are trying to make gains on the woes of Huawei, which is facing obstacles in many countries over concerns— mainly voiced by the US—that its equipment may be used for China-sponsored state espionage.

In the latest development, Britain’s digital minister said on Thursday that London is still mulling over whether to allow Huawei to supply parts for the UK’s new 5G wireless network.

There is a risk, experts say, that Nokia and Ericsson could push too hard to capitalize on Huawei’s troubles by engaging in a price war, eroding profits.

“The 5G [market] is in its early stages, the ecosystem is not yet mature and Nokia is facing some new challenges of its own,” Suri told analysts and reporters in a conference call.

“But overall we see things improving quickly and surely. We have a [product] portfolio that is unique for the 5G era. Still, there’s plenty of work to do in all [business] areas but the momentum is with us,” he said. Shares in Nokia were down over 9 percent in Helsinki.

AITrades Philippines event launch A TRADING and mining platform company of Bitcoins and a manufacturer of cryptomatic automated teller machines (ATMs) all over the world, AITrades Philippines made its presence felt in the country with a launch event that highlighted how it harnesses the power of artificial intelligence (AI) and cyptocurrency. Blending these two technologies enables the company to sort out large data in shorter duration so investment decisions can be made in less time and instantaneously.

The integration of AI and cryptocurrency means transaction execution will be limitless, diversified and much easier than ever. The firm will also be distributing cryptocurrency ATMs in the country.

Photo shows (left) RV Palafox, president of AITrades Philippines, and Mark Davis, chief communication officer, during the launch.

D2

Wednesday, May 1, 2019

Pet Corner BusinessMirror

Connecticut’s first cat café has adoption mission, cat yoga ONE of the gorgeous felines featured in Mew Haven Cat Cafe’s Facebook page.

WWW.FACEBOOK.COM/ MEWHAVEN

TAYLOR SWIFT gave Benjamin Button, the latest addition to her cat family, the big reveal on her Instagram account.

@TAYLORSWIFT ON INSTAGRAM

z

By Christopher McDermott The Associated Press

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Wes Anderson, 50; Tim McGraw, 52; Joanna Lumley, 73; Judy Collins, 80.

a

ARIES (March 21-April 19): Remain calm.

Don’t let your emotions take over or cause you to do or say something you shouldn’t. Control and discipline will help you avoid mistakes and take advantage of a situation. HHH

b

TAURUS (April 20-May 20): You’ll be eager to make a change, but before you do, go over every detail carefully and make adjustments that will ensure you reach your goal without loss or interference. Leave nothing to chance, and stay within your budget. HHHH

c

GEMINI (May 21-June 20): Note what everyone around you is doing. Pitch in and help; become part of the solution. Foster important relationships, and do your best to encourage and support the ones you love in a positive way. Romance will improve your personal life. HHHH

d

CANCER (June 21-July 22): How you handle situations will change the way others perceive you. Honesty and integrity, along with having the wisdom not to act in haste, will help you overcome any situation you face. Don’t fear change if it will solve a problem. HH

e

LEO (July 23-Aug. 22): Do what works best for you. A change that takes place or a situation you have no control over should be handled with intelligence. Know when to walk away and do your own thing. HHHHH

f Mew Haven will talk with the shelter afterward. Pullo said she was proud that the business helped find 50 permanent placements for pets since starting pop-up events in 2017. Their Twitter feed has the occasional “Where are they Meow?” feature to catch up with the cat café’s alumni.

Pullo said her husband first floated the idea for the café in 2015. He grew up around Trumbull, and New Haven seemed a prime location, nestled between two metropolitan areas. And at 904 Whalley Avenue, Pullo said, the business fit in with the other shops of the city’s Westville neighborhood.

It took three years of research and plenty of attention to detail to start the business. Local officials ultimately had to create new zoning classifications to fit Mew Haven, which is not quite a kennel, and certainly not just a café.

“We worked really hard to ensure we were not frivolously opening this,” Pullo said.

An attendant sits in the cat lounge when they’re in session to tell visitors stories about the cats and help

the feline unaffiliated with cat etiquette.

One of their current fosters is a calico named Chloe, who, Pullo said, was the alpha female of the current group. She likes being the center of attention at times, but like all cats has her limits.

“When she’s done being petted she will let people know, and we have to accept that, just like people sometimes are done being hugged,” Pullo said.

Other cats, like a striped yellow six-month-old named Sparky, are a little more eager for playtime and still figuring out how they want to socialize with people and other animals.

And something of the same is true for humans, Pullo said. The cat café can be a quiet place for destressing; for other visitors, it’s a way to open up a conversation with someone new.

As they approach one year of business, Pullo said, they’re looking to add more events, like “Knitting with Kittens” and Cat Yoga—which offers 60 minutes of yoga with cats roaming around plus 30 minutes of designated cat time. n

MEOW AND ‘ME!’: TAYLOR SWIFT DEBUTS CAT NO. 3 AFTER SONG REVEAL ALL those Swiftie sleuths got it right: Cat mama Taylor Swift debuted her feline No. 3, a sweet-faced baby boy named Benjamin Button, after his surprise reveal in the music video for her new song “ME!” The pop star’s famous Scottish Folds, Olivia Benson and Meredith Grey, have a brown-eared sibling who snuggled with Swift on Instagram above her comment: “And then there were three...”

She later shared a snippet of selfie video on Instagram carrying the adorableness in her arms, saying: “I’ve never personally encountered a cat that

Today’s Horoscope

HAPPY BIRTHDAY: Keep a close watch over joint money matters, settlements or contracts that are due for a change. It’s up to you to stay on top of your affairs and to speak on your own behalf. If you let others take over, you will have trouble getting your seniority back when it comes time to make important decisions. Your lucky numbers are 5, 13, 20, 29, 36, 44, 48.

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EW HAVEN, Connecticut—Mew Haven Cat Cafe welcomes students from nearby universities and plenty of other travelers for coffee, a cozy lounge, and some quality time with cats, so long as they’re ready to play along if one of the café’s several foster felines occasionally commandeers their seat or keyboard.

“A lot of university students can’t adopt pets and so they can come here to be around animals to help with missing their own pets,” said Angela Pullo, who owns and operates Mew Haven with her husband, Michael.

Although it’s especially popular with students— Southern Connecticut State University is nearby— Pullo made clear that the business welcomes people of all ages.

Cat cafés originated in Taiwan in 1998, but really took off in Japan, Pullo said. The first American cat cafés opened up in 2014 in New York City and Oakland, California. Mew Haven became Connecticut’s first in August 2018.

Each café has their own approach to bringing together coffee and cats. At Mew Haven (www. mewhavencatcafe.com), all the cats are foster animals from Animal Haven shelter in North Haven, and Pullo said part of Mew Haven’s mission is to help the cats connect with permanent homes.

General admission tickets for one hour of cat time cost $12, or a little less for students, seniors, teachers and children. Customers are encouraged to make a reservation, especially on weekends.

The café and cat lounge sides of the business are kept separate for sanitation’s sake. To start a visit, customers check in at the café section, where they can also buy a cup of coffee and prewrapped cookies, cupcakes with cat-shaped frosting and other baked goods. They can bring their food into the cat lounge, as long as they don’t share their people food with the cats. Customers then go outside to a separate entrance to the cat lounge. At a given time, between five and 10 felines will be lounging, poking about and surveying their territory. Beds and ledges surround the tables and chairs for humans, at least when the cats aren’t reaching for them first.

Most visitors come in for the coffee and a thorough destressing. For others, it’s a singles mixer for a possible pet.

“You can’t think of anything else when you’re petting a cat,” Pullo said. “If you’re thinking about work when you’re petting a cat, you’re not doing it right. These cats need to socialize and by seeing them socialize we see how they interact with people and learn about their personalities.

“If someone puts in an application with us, they will talk with Animal Haven afterwards. We act as a foster,” Pullo said.

Potential pet owners who file an application with

www.businessmirror.com.ph

VIRGO (Aug. 23-Sept. 22): Listen carefully, and learn all you can from experts or those with more experience. How you handle relationships with people you work or play with will influence your health and your wealth. HHH

g

LIBRA (Sept. 23-Oct. 22): Distance yourself from negativity and situations that are not supportive. Travel plans, business trips, meetings and partnerships should be where you put your efforts. Strive for a better relationship with someone you love. Romance is encouraged. HHH

h

SCORPIO (Oct. 23-Nov. 21): You’ll experience a change of heart or choose to live differently. How you move forward will depend on honesty when dealing with loved ones who aren’t likely to want to share the decisions you make.

HHH

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SAGITTARIUS (Nov. 22-Dec. 21): Make adjustments at home that will add to your comfort and convenience, as well as contribute to the lifestyle changes you want to make. A partnership with someone you love will improve if you share your intentions. Romance is highlighted. HHHHH

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CAPRICORN (Dec. 22-Jan. 19): Be creative when forced to make changes. Bend situations to accommodate your needs. Protect against injury or unnecessary arguments. A positive and healthy attitude will help deter others from meddling in your affairs. Don’t get down; get moving. HHHH

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AQUARIUS (Jan. 20-Feb. 18): You don’t have to follow anyone or agree with what others do or say. Choose to be your own person, surround yourself with those who bring out the best in you and live your life according to your needs and best interest. HHH

preferred to be carried as if they’re a human baby.”

Fans suspected she might be adding to her cat family after Swift visited a Nashville butterfly mural she commissioned hours before her music video dropped on Friday.

The artwork featured three cats.

The new whiskered face was featured in the video’s story as her on-screen lover, Panic! at the Disco’s Brendon Urie, tries to woo her back after a spat—in French—by handing her the four-legged bundle. The pet did the trick. AP

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PISCES (Feb. 19-March 20): Keep your life simple, honest and moderate. Focus on what you can do to make improvements to your community and causes you want to help. Only take on what’s feasible and will not hurt you financially or emotionally. HHH BIRTHDAY BABY: You are open-minded, agile and quick-witted.

You are inventive and secretive.

‘let the sparks fly!’ BY RACHEL FABI AND JEFF CHEN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Expense 5 Coding language with a coffee cup logo 9 The story of Gilgamesh, e.g.

13 The Favourite queen 14 Terrible guy?

15 Gooey treat 16 Scene from an earlier time 18 “Props” 19 Walk stealthily 20 Set (down) 22 M.D. colleagues 23 “Stop, matey!”

24 Foes’ home base 27 ___ neutrality 28 Solidarity leader Lech 30 Antioxidant-packed berry 31 Triangles accompanying guitars?

32 Actor’s go-between 33 Flammable material, or a clue to both parts of 16-, 24-, 45- and 54-Across 36 Do penance (for) 38 Speaks like Sylvester

9 Unlike many rumors 3 40 Threatening conclusion 42 “You are here” diagram 45 Uncultivated landscape feature 47 Barbecue smell, e.g.

49 Black ___ (some missions) 50 Six-pack contents 51 Result of a thaw 52 Landing pads for Santa 54 Menage, in English 57 Drink noisily 58 50+ group 59 On a cruise, perhaps 60 Former Yugoslav president 61 Fashion inits.

62 Wagers DOWN 1 Loose garment 2 Not prerecorded 3 Suddenly unload on 4 Tries 5 Agree 6 Director DuVernay 7 Shop-___

8 Joints prone to sprains 9 Big bird 10 Vader’s childhood ride 11 Colleague of Thor 12 Foul place 15 Grey Goose competitor 17 Steal some wheels 21 Open forum on Reddit: Abbr.

24 Fraternal order 25 Snuggles 26 Pet parrots’ homes 29 ___ up one’s sleeve 31 Yearned 32 In a zen state 33 Hits a non-fair fly to a fielder 34 Suffers 35 Web feed letters 36 If all else fails 37 Libyan city in the “Marines’ Hymn” 40 Celestial sphere 41 Ex-Giant Jennings who danced with the stars 42 Down in the dumps 43 What works like a charm?

4 Black-and-white “bears” 4 46 Shocked sound 48 Phys. therapy 51 “___ with my little eye...”

53 To’s partner 55 Wine barrel wood 56 Caterer’s coffee container

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, May 1, 2019

A PUBLICITY photo for the controversial Netflix series 13 Reasons Why

BLIND SPOT BRUCE C.

ROMCOM EXPERT

SO who will play the female lead in the Philippine remake of a famous Korean drama? There are many names being brought forward but the role reportedly has been given to an actress who is an “expert” at romantic comedies. The team up between her and the leading man is much anticipated. The second leading man role, meanwhile, has been given to the actor who resembles the Korean star who starred in the original.

This drama will definitely be a must-watch, with such a powerhouse cast.

NEW RELATIONSHIP?

HE was once the hottest name this side of showtown, and she was the beauty queen in a relationship with his friend. Are they now in a relationship with each other? This is the question being asked about them by network executives. During a special event in the actor’s life, the beauty queen was a conspicuous presence. Throughout the event, the actor kept going to the girl, making sure she was OK. Everyone found this weird, as they have never been known to be close.

Apparently, there have been rumors in the past that the actor and beauty queen had hooked up in a parked car. This was before the beauty queen dated the actor’s friend, who’s also an actor.

PROBLEMATIC

IS this the beginning of the end for the actor, whose program lorded it in ratings game for years? A recent controversy has resulted in showing the public his true colors and some fans have been turned off by his behavior toward his ex, who is now in a difficult situation. According to rumors, one of the stars of the actor’s show has quit because he is difficult to work with. In the past, the actor has screamed at someone who is more senior than he is; another actor who has won so many awards. To appease his senior, the actor gifted him with a car. Let’s see how he deals with the problem with his ex.

CATFIGHT

THE two starlets’ catfight is being talked about in showbiz circles. Starlet #1 now has an attitude just because her show is a hit. Starlet #2, her costar, is being bashed by #1 for her shady relationship. And this isn’t right because #1 is said to be in a shady relationship, too. The lesson here is that the success of one show is not enough for anyone to be bitchy toward other people. Remember, people who live in glass houses don’t throw stones.

Metropolitan Opera fetes Placido Domingo golden anniversary NEW YORK—Placido Domingo has starred on the stage of the Metropolitan Opera for a whopping 50 years—and is still singing, amazingly, at age 78.

On Sunday, the Met literally turned the tables and threw a dinner on the same stage for the Spaniard’s golden anniversary. Guests included soprano Renee Fleming and the company’s new music director, Yannick Nezet-Seguin.

“I have been lucky with a healthy throat and the passion for what I do,” Domingo said, standing by his table in the middle of the stage before the empty 4,000-seat house, surrounded by dinner guests and joking, “for once, I’m here and I don’t have to sing!”

He noted that the international competition he started, Operalia, means that in just about every opera house in the world, he encounters its winners who have become stars he still mentors.

Nezet-Seguin, a French-Canadian about half Domingo’s age, remembers conducting the tenor some years ago “and every day he was the first arriving to work, he was coaching younger artists, coming to rehearsals, wanting to learn; he was always the most respectful, the most loving and passionate person in the room.”

In terms of vocal longevity, he added, “he’s a miracle.”

Domingo is currently appearing in his 52nd main role at the Met—as Germont in Verdi’s La Traviata—among 151 global career roles, and counting.

The lifelong tenor now sings as a baritone, appearing in top theaters.

On Sunday, he remembered his Met debut a half century ago, when he was suddenly called to replace an ailing singer.

He was speeding in from his home in Teaneck, New Jersey, vocalizing behind the wheel when the driver in the next car started laughing at him. Domingo rolled down his window and yelled out, “Why are you laughing?”

The man said,”because I’m going to the Met and I’m already hearing the opera.”

Domingo shouted back, “Well, you’ll be hearing me tonight!” AP

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Study: Kids’ suicides spiked after Netflix’s ‘13 Reasons’

S

By Lindsey Tanner The Associated Press

UICIDES among US kids aged 10 to 17 jumped to a 19-year high in the month following the release of a popular TV series that depicted a girl ending her life, researchers said.

The study published on Monday can’t prove that the Netflix show 13 Reasons Why was the cause, but there were 195 more youth suicides than would have been expected in the nine months following the show’s March 2017 release, given historical and seasonal suicide trends, the study estimated.

During April 2017 alone, 190 US tweens and teens took their own lives. Their April 2017 suicide rate was .57 per 100,000 people, nearly 30 percent higher than in the preceding five years included in the study.

An additional analysis found that the April rate was higher than in the previous 19 years, said lead author Jeff Bridge, a suicide researcher at Nationwide Children’s Hospital in Columbus, Ohio.

“The creators of the series intentionally portrayed the suicide of the main character. It was a very graphic depiction of the suicide death,” which can trigger suicidal behavior, Bridge said.

Bridge acknowledged the study’s limitations included not knowing whether anyone who died by

suicide had watched the show. Also, the researchers were not able to account for other factors that might have influenced suicides. Those include the April 19, 2017, suicide of former New England Patriots player Aaron Hernandez and a man accused of a Facebookpublicized killing who died by suicide the day before Hernandez. Bridge said those deaths couldn’t account for the spike that the study found for the entire month of April.

The researchers analyzed data from the federal Centers for Disease Control and Prevention on deaths in Americans aged 10 to 64 from January 2013 through December 2017. Their results were published in the Journal of the American Academy of Child and Adolescent Psychiatry. The researchers found no change in suicide rates in those 18 and older after the show was released.

The results are plausible and add to evidence that compelling media depictions of suicide can negatively influence young people, said sociologist Anna Mueller of the University of Chicago, who was not involved in the research.

Lisa Horowitz, a coauthor and researcher at the National Institute of Mental Health, noted that suicide is the second-leading cause of death for US teens and called it “a major public health crisis.” Her agency helped pay for the study.

Teen suicide rates have increased in recent years and other research has suggested that bullying and heavy use of social media may contribute to the risk.

Netflix included warning messages with some of the episodes and created a web site with crisis hotlines and other resources. In the second season, the show’s actors offered advice to viewers on where to seek help. The series’ third season will run later this year.

A Netflix spokesman noted that the new study conflicts with University of Pennsylvania research published last week that found fewer suicidal thoughts among young adults who watched the entire second season than among nonviewers.

“We’ve just seen the study and are looking into the research,” he said. “This is a critically important topic and we have worked hard to ensure that we handle this sensitive issue responsibly.”

Horowitz said the new results highlight how important it is for parents and other adults to connect with young people.

“Start a conversation, ask how are they coping with the ups and downs of life, and don’t be afraid to ask about suicide,” she said. “It’s a myth that just asking might be a trigger.”

Horowitz added: “One of the best ways to prevent is to ask.” n

Is John Lloyd returning to the limelight?

PHOTOS and videos of matinee idol John Lloyd Cruz have been surfacing after the actor went on hiatus from show business in 2017.

Cruz, one of the most bankable actors of the Philippine cinema and a very effective endorser, once again proved that his fans are still waiting for his return. A teaser video, which lasted only for a few seconds showing only a back shot of Cruz, and posted in the Facebook page of the No. 1 selling shawarma brand Turks a few weeks ago, has been viewed 3.2 million times and shared almost 800 times, gaining a huge number of comments.

Without any clue in the teaser video, his fans already assumed it was him in it. Actress Bea Alonzo on her Instagram also posted a screenshot of the teaser video, which has garnered almost a million likes.

On Monday, Turks finally revealed an extended video showing Cruz walking to different destinations. The video is simple but loaded with drama, and in a very discreet moment he stops and takes a bite of a Turks pita doner.

The rugged look of Cruz in the Turks video, titled “Ang Pagbabalik,” is a major departure from his guy-next-door image, and a lot of people in the industry are asking if this signals his return to the limelight. His fans have also been wondering about the life he’s been living since his hiatus.

According to Turks President Gem L. Zenarosa, during the course of his talks with Cruz, they never discussed his showbiz career or plans. He added that he got Cruz as the latest ambassador of Turks because of his great confidence in the actor.

“I am really grateful John Lloyd trusts our company. He is a brilliant and very creative young man. Aside from acting, we have discovered some of his other remarkable talents,” Zenarosa said.

The “Ang Pagbabalik,” according to Zenarosa, is actually about Turks Small Pita Doner, which will be available again in all its branches. The video can be viewed on the brand’s YouTube channel.

“John Lloyd is the best endorser for this because like him, despite his absence in the show business for a couple of years, the warmth and love of his fans for him never dwindles.

With our Small Pita Doner, we believe our customers will be happy to know it is back in our menu,” Zenarosa explained.

Just like Cruz, who now has a different image since he last appeared in the big or small screen, a clear indication that the actor is recreating himself and exploring different avenues, Turks is also doing the same thing to keep its customers excited whenever they visit a branch.

In time for the release of Cruz’s endorsement video, Turks also released to the market its newest offering—Turks Rice Bowl, which is a complete meal. You can choose beef or chicken for your rice topping, priced at P50. The Small Pita Doner, on the other hand, is priced at P35.

“To keep up with the demands of our customers, Turks continues to improve our menu and offerings to satisfy the discriminating taste of our loyal patrons,” Zenarosa said.

John Lloyd Cruz now joins the roster of celebrity endorsers of Turks including Piolo and Iñigo Pascual.

THE RANSOM COLLECTIVE AT SHANGRI-LA PLAZA PREPARE for an exciting month as indie folk band The Ransom Collective kick-starts Shangri-La Plaza’s awesome lineup of events for the whole family this month with a musical performance tonight, May 1, 7 pm, at the Grand Atrium.

Best known for fusing distinct percussive patterns, guitar-driven leads, and full vocal swells to produce their signature sound, the six-piece ensemble has established a strong presence in the local music scene and represented the country at Laneway Festival Singapore, Asean-India Music Festival, Udaipur World Music Festival, along with other local and international collaborations.

Catch The Ransom Collective perform their hits including “Fools,” “Tides” and “Traces” at Shangri-La Plaza (www.facebook.com/ shangrilaplazaofficial).

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Image BusinessMirror

Wednesday, May 1, 2019

www.businessmirror.com.ph

MSD SUPPORTS CALL FOR AN HPVFREE FUTURE FOR FILIPINOS

HUMAN papillomavirus (HPV), which causes infections among the majority of people throughout their sexually active years, was at the forefront of health discussions recently as advocates and stakeholders in the country joined the rest of the world in commemorating International HPV Awareness Day recently.

As a fervent supporter of HPV Awareness Day, global healthcare leader MSD in the Philippines reiterated its commitment towards a future free from HPV. Every hour around the world, 70 males and females are diagnosed with malignancies related to HPV. The World Health Organization (WHO) describes HPV as an “extremely common” virus affecting the reproductive tract. Majority of sexually active women will acquire it, sometimes repeatedly, although 90 percent of the cases will resolve on their own except for a percentage with certain types of HPV that can persist and progress to cervical cancer. There is now also a growing body of evidence that other cancers like anal, penile, vulvar, and vaginal cancers have strong links to HPV. The scourge of cancer is all the more agonizing for families and communities here in the Philippines because cervical cancer deaths occur among teenage girls and breadwinners, or women aged 15 to 44 years. But there is another side to the story: MSD is working relentlessly to make sure that every scientific breakthrough has the potential to create a lasting impact on lives around the world and for generations to come.

For more than a century now, the healthcare company has been developing medicines and vaccines for many of the world’s most challenging diseases. Its anthem, “Inventing for Life” is a declaration of the company’s commitment to find cures through world-class science. One of its key contributions is the development of the first-ever vaccine to help protect against HPV strains that lead to cervical, vaginal, vulvar, and anal cancers in women and men, as well as against diseases linked to HPV, such as genital warts. HPV vaccine was initially approved more than 10 years ago and is now licensed in more than 130 countries around the world, including the Philippines.

MSD also addresses society’s healthcare needs by establishing inventive partnerships, and sharing business and technical expertise to enable expanded and sustained delivery of health services. Across the globe, MSD supports the Global Alliance for Vaccines and Immunization, a global vaccine alliance bringing together public and private sectors with the shared goal of creating equal access to new and underused vaccines for children living in the world’s poorest countries.

On the local front, MSD is one of the partners of the Department of Health’s national school-based immunization program, which recently included HPV quadrivalent vaccination among Grade 4 girls in public schools. These programs are also in line with the framework of the United Nations Sustainable Development Goals global campaign, and in particular the “Every Woman Every Child” longterm strategy which includes routine HPV vaccination for adolescent health.

As part of a multistakeholder group working to protect more Filipinos against the continuing burden of malignant disease, MSD celebrates the recent enactment of the National Integrated Cancer Control Law. This development represents a watershed moment for Filipinos in reducing the incidence of vaccine-preventable cancers, including cervical cancer, by ensuring a more equitable and available access to preventive healthcare and treatments.

How to overcome your fear of public speaking SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

W

HEN I tell people I am an introvert, they do not believe me. I have been a teacher, trainer, and I am currently a people manager, so they think I am naturally gregarious because my work involves close contact with people and interacting with them in different levels and settings. All also involve talking in front of people and presenting new ideas or persuading them toward an action plan. That is where they are mistaken.

It took me years of practice to stand in front of a crowd and overcome “glossophobia,” that fear of public speaking.

Speaking in front of a crowd effectively is a skill which can be easily learned—one that needs practice and resilience on your part. While it is difficult, you stand to gain more in terms of influence and credibility which will stand you in good stead not only professionally but personally, as well. Here are some things which helped me develop from being an introverted bookworm into a convivial speaker.

My first dive into public speaking was in my third year high school where one of the elective classes we had to take was Public Speaking. One of the most important things you need to know in public speaking is knowing your topic. It is very difficult to speak about something you know little about, and it will show in the way you give your talk. My teacher used to say you cannot speak confidently in front of people if you don’t know what you are saying. To overcome stage fright, you first need to know your subject.

Aside from that, you have to prepare. Preparation is key in making you feel in control of speaking in public. Your topic is just one aspect of your preparation. You need to practice. One

of the effective ways that my high-school teacher taught us is to practice in front of the mirror. This, of course, can be very unnerving because you can instantaneously see your every movement and that can be very distracting. But if this works for you, go ahead and practice in front of a mirror. Or you can do what I do with my kid. When he was practicing for a poetry recitation, he would become so self-conscious. So I set up a tripod and recorded him. That way, we were able to go back and see his movements and listen to his pronunciation and correct them. This will also give you an objective way of evaluating your presentation. However, the most important thing here is to understand that you can effectively overcome stage fright if you prepare well.

There are cases where you will be asked to speak extemporaneously in what is commonly known as the after-dinner speech. In this instance, you will only be given a few minutes to prepare so you need to keep your speech to a minimum. You can talk about the purpose of the meeting and thank them for attending the event. You are not expected to give a lengthy speech but one which is enough to put a nice touch to cap the evening.

Which brings me to another way of overcoming stage fright: Know your audience. If you are giving a speech to an audience you know, it is easier to come up with samples and illustrations they can relate to. It will also boost your confidence knowing your audience speaks the same language, lessening the need to explain jargons and businessrelated terms and processes. It will also help you understand their inclinations and biases. If you are asked to speak to a crowd you do not know, request from the organizers a general profile of the attendees and their background. This will help you prepare relevant material and use examples they can relate to.

Another way you can prepare while knowing your audience is to be at the venue before anybody else shows up.

I did this when I was still a trainer. I would be at the venue an hour before the scheduled time, and sit down and spend a few minutes with each attendee as they arrived. This helped me understand the audience and gave me an idea why they were there. It helped me get a better handle on my audience and, at the same time, this allowed for a personal connection to be made before I started my talk. Being there before

Speaking in front of a crowd effectively is a skill which can be easily learned—one that needs practice and resilience on your part. anybody else also helps calm you down and prepare for any contingencies should something go awry.

While giving your speech, mistakes can be unavoidable.

In such cases, as a popular phrase goes, keep calm and carry on. All great speakers have stumbled at one point in their life. You just have to keep pushing ahead. Your mistakes can actually help your audience empathize with you and see themselves in your shoes. So when you commit a mistake, muster through and keep talking. If the mistake is so obvious, acknowledge it and then move on because if you don’t, the audience will get stuck on that and keep thinking about it.

To keep your audience interested, keep your tone conversational. Talk as if you are speaking to someone you know, and what you are saying will be to their advantage.

Include personal anecdotes which bolster your points and draw from your experience to lend credibility to what you are saying. When you add a personal touch to your talk, people tend to open up to your ideas.

These are some of the guidelines I have learned in overcoming my stage fright. I am still an introvert and I still prefer to keep to myself. But when I need to speak and address a crowd, there are some of the things I can do to rise to the occasion. n

Get the most out of online reviews IN the world of online shopping, often buyers will purchase an item only after they see that other people also like it. And the easiest way to find out consumer sentiment? You guessed it: reviews.

Many online purchases are based on careful consideration of star ratings and product reviews left by complete strangers. Some 82 percent of US adults say they, at least, sometimes, read online customer ratings or reviews before purchasing items for the first time, according to a 2016 Pew Research Center survey.

But should you trust customer reviews when deciding what to purchase? And do these mysterious reviewers have your best interests in mind? Here’s what you need to know.

FAKE REVIEWS ARE REALLY OUT THERE CONSUMERS today are skeptical, says Zach Pardes, director of advertising and communications, North America, at review platform Trustpilot. Shoppers use Trustpilot to read about companies and write reviews, while businesses use it to collect reviews.

“We live in a time when trust is completely under attack,” Pardes says. “This is the ‘fake news’ era. So people are reading [reviews] and consuming them more than ever before, but I think there is a healthy skepticism at times of what they’re reading.”

It seems shoppers are skeptical for good reason. Fake reviews do exist, according to Saoud Khalifah, CEO of Fakespot, an artificial-intelligence platform that analyzes online reviews. Fake reviews include, but aren’t limited to, bot-generated reviews and reviews that are influenced by the seller. Fakespot reads hundreds of reviews per second and notes things such as how many reviews have been left for a

“Before platforms like Yelp existed, consumers had to rely on yellow pages, newspapers, magazines and local advertisements for information about local businesses,” Liu said in an e-mail.

Yelp takes measures to ensure “high-quality content,” Liu says. That includes allowing Yelp’s community of business owners and users to flag content that may violate the site’s terms of service, as well as human moderation of reviews.

product over time, common words used in the reviews and the quality of the reviews. Shoppers can use Fakespot’s web site to analyze reviews (by entering a URL) for products at a handful of e-commerce sites, such as Amazon and Best Buy. So why are fake reviews out there? Khalifah says consumers are wary of products with no reviews or zero stars. A number of positive reviews can make a product look better.

REAL REVIEWS ARE VALUABLE OF course, not all user reviews you read online are fake.

Authentic reviews are a valuable tool when making a variety of purchases. They can help consumers make important financial decisions by learning about someone else’s experience. This may include which hotel to book, where to eat dinner or what brand of vacuum to purchase.

Pardes says Trustpilot features flagging mechanisms visible to users, plus artificial-intelligence technology and a team in place to detect and remove fake reviews.

Perhaps one of the best known review web sites is Yelp.

Kathleen Liu, a company spokesman, compares the popular site to a modern-day version of word-of-mouth.

HOW TO READ BETWEEN THE LINES SINCE legitimate user reviews do provide helpful information, reviews as a whole shouldn’t be discounted. But how can you tell the difference between what’s real and what’s not? It’s close to impossible for the everyday consumer.

But if you do your due diligence, you can make an informed purchase. n CHECK MORE THAN ONE REVIEW SOURCE. Pardes advises consumers to read reviews on multiple platforms.

“If you’re about to book a $10,000 vacation, you’d never rely solely on the photos and the reviews posted by that hotel’s marketing team,” he says. “You’re going to want to use a third-party independent resource.” n READ MORE THAN A HANDFUL OF REVIEWS. Pardes says there is “safety in numbers.” n WATCH FOR WARNING SIGNS. For example, does the review focus more on the company and its customer support than on the actual product? This could indicate a reviewer was influenced by the seller or company, Khalifah says. n QUESTION PERFECTION. Pardes says consumers don’t trust reviews that show only five stars. “Nobody’s perfect, so you can’t possibly have a perfect five-star review in every single category of your business,” he says. AP

BusinessMirror E1 | Wednesday, May 1, 2019 • Editor : Tet Andolong

TRANQUIL, verdant greenery at Botanika Nature Residences

A LIFE OF PRIVILEGE IN METRO SOUTH

M

ETRO MANILA has always been pictured as a bustling, congested city with its big crowds, noise and air pollution, and heavy traffic. It seems to lack lush and refreshing greenery.

What many people don’t realize is that in the south of the Metro, one can find an ideal place to put down roots in without missing out on the urban life. It is where accessibility, exclusivity and comfort exist in harmony.

Exclusive and luxurious living spaces

ALABANG offers respite from the hectic metropolitan life with luxurious living spaces. Alabang’s most premium residential option, Botanika Nature Residences, nestled at the heart of the most exclusive part of Filinvest City, is now ready for occupancy, offering a life of utmost privacy, exclusivity and ease in a lush vertical setting. Its first tower has 101 units, each offering a gracious living space with the same layout as single detached homes, a rarity in typical condos today. It basically

provides the same suburban lifestyle found in opulent subdivisions without the stress of maintaining a garden or a huge house. A flagship development by luxury real-estate brand Filigree, Botanika has easy access to all that Metro South has to offer—from business centers, learning institutions and medical facilities to retail and lifestyle hubs.

Residents of Botanika do not have to travel far for a relaxing getaway, as the garden-inspired condominium offers comfort right at their doorstep. Its amenities include tiered children’s and lap pools set amidst lush greeneries, outdoor play area for family bonding moments and indoor facilities like a library and business center—all meticulously designed to suit the residents’ varying lifestyles.

Members also have direct access to the exclusive Palms Country Club for a complete leisure setting.

LABOR DAY SALE I

N celebration of Labor Day, the country’s biggest outlet complex is holding one of its biggest sale events.

From May 1 to 5, expect price slashes as high as 80-percent off at select shops at Paseo Outlets, Laguna Central, and Arcadia in Greenfield City, Santa Rosa, Laguna.

Set to offer big discounts at their biggest outlet stores are big brands, such as Adidas, Converse Philippines, Oakley Vault, Giordano and Nine West.

The country’s only outlet stores of Pottery Barn, Pottery Barn Kids, West Elm, Speedo, American Eagle Outfitters and National Book Store will also take part in the sale.

Other participating brands will be Nike and Mizuno. Plus Bench, along with the international brands it distributes locally including Mothercare, La Senza and Cotton On. Shoppers may also enjoy the

Greenfield City Weekend Market and its outdoor buffet, which is open every weekend.

“Labor Day is a big celebration that commemorates our hard work

RESIDENTS of Botanika can avoid the hustle and bustle and enjoy Metro South’s refreshing, laid-back ambiance instead.

Promotes a work-live-play lifestyle

Teeming with local and multi-national corporations, lifestyle hubs, educational institutions and wellness centers, Metro South also offers a balance of work and play.

Working parents can easily spend more bonding moments with their kids, and families can build stronger ties and healthier relationships.

With several lifestyle hubs and functional parks in the vicinity, they can easily schedule a family night and catch the latest blockbuster film together, go for a run or bike within the neighborhood, or simply enjoy each other’s company with a stroll along the lighted pathways. Diverse

residential developments, including upscale mid-rise condominiums such as the Botanika Nature Residences, are also just a stone’s throw away from these establishments, further promoting accessibility and comfort.

Highly accessible

DISTRICTS down Metro South— like Alabang—have easy and fast access to Metro Manila and the provinces of South Luzon. They are near key thoroughfares like the South Luzon Expressway, Skyway and main transport hubs like the Ninoy Aquino International Airport, thus, travel to major cities

METROPOLITAN life with luxurious living spaces

and provinces like Makati, Taguig, Parañaque and Laguna is made convenient.

Abundant greenery

METRO South incorporates pockets of greens in business districts and commercial hubs. It prioritizes sustainability by protecting the environment and infusing it with the latest innovation. It is LEEDregistered (Leadership in Energy and Environmental Design) for Neighborhood Development for its green-oriented, energy-efficient master plan. Careful implementation of the master plan has resulted in wide road networks,

efficient traffic management, effective transportation system and round-the-clock safety and security, making life in the Metro South even more hassle-free. There are also foliage-canopied walkways in Filinvest City, Alabang, a premier garden CBD, and it plans to develop more functional, landscaped pedestrian lanes and parks so residents can enjoy fresher air in less skimp places.

Live a life of privilege in Metro South at Filigree’s Botanika Nature Residences. To learn more about Botanika Nature Residences and the luxurious green living it offers, visit botanika.com.ph

as Filipinos and as a nation. Greenfield Development Corp. believes it’s just right to have a summer treat for everyone that’s just as big,” said Atty. Duane Santos, EVP and GM of Greenfield Development Corp.

Stay updated by following the Paseo Outlets social-media pages. @paseooutletsgreenfieldcity on Facebook and @paseooutlets on Instagram.

SANDARI BATULAO’S CHAMPIONS Citystate Properties and Management Corp. Vice Chairman Dominga Rufina Cabangon-Chua (right) and President Dominga Michelle Cabangon-Chua (second from right) recognized the top performing brokers and sellers of Sandari Batulao at the Brokers and Sellers Appreciation Night held in the Social Nest Events Room on April 11. Dianna Rose Espadon, (third from right) licensed broker of DNE Realty, was feted with the Ambassador’s Award as top broker for the past three years, Millionaires Club award and Top Broker of 2018. Other awardees are: RA Benjamin Realty licensed broker Reny Allan Bernardo (fourth from right), Millionaires Club award and Top Broker; Michelle Alejo (second from left), Miguel Ripoll (third from left) and Jireh Nervez (fourth from left) Top In-House Sellers Award; and Reny Allan Bernardo and Miguel Ripoll, Rookies of the Year. Also in photo is Maureen Azarcon (left), vice president for Sales.

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E2 Wednesday, May 1, 2019

LIVABILITY, MOBILITY AND THE REGENERATION OF POBLACION Amor Maclang

FIRST DIBS IN REAL ESTATE

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OBLACION has always had a special place in our hearts.

Not only is it one of the most important commercial districts in Makati City, second only to the Makati CBD, it is also the seat of government where all the political happenings take place.

SYLVESTER WONG of AECOM (from left), Makati Cultural Officer Dwayne Samarista, George Royeca of Angkas, Danielle Gayares of Thinking Machines and Charlie Rufino of the Net Group sat on a panel that discussed the regeneration of Poblacion during the ULI Real Estate Tech Summit.

ANGKAS is being considered to help in easing the problems of mobility in Poblacion, especially during peak business hours

MEMBERS of the Poblacion Technical Assistance Panel engage stakeholders in one of their meetings

For many of us, Poblacion is a place we’ve gone to, at one time or another, to hang out, unwind, or have some good, old-fashioned fun.

The slow gentrification of Poblacion has transformed a once-idyllic barangay into a busy commercial area. And as in many cases of urban transformation, the change has always been seen as a double-edged sword by many of its residents.

While Poblacion’s development brought with it an entertainment scene that’s second to none, a vibrant art community that manifests in its numerous galleries, modern food havens for the gastronomy-inclined, and a host of pubs and bars for the weary Makati executive; it also came with issues: heavy traffic, a dire lack of parking areas, mobility concerns, displacement and noise pollution.

Barangay Poblacion is all of 103 hectares and has a population of over 25,000. According to many, although Poblacion has transformed into an important business district that provided countless jobs to locals, it has also become less livable for residents.

Regeneration as solution

THE good news is that some urban planning experts and mobility thought leaders, through an Urban

Land Institute Technical Assistance Panel (TAP), acknowledged these issues and have made Poblacion a case study in urban regeneration.

One such collaborator in the Poblacion case study is AECOM, an American multinational engineering firm that provides design, consulting, construction and management services. Together with the research arm of JLL and data analytics company Thinking Machines, the TAP explored how Poblacion can increase it livability and enhance its viability as a business hub. Sylvester Wong, vice president for Strategies and Development at AECOM, discussed the Poblacion Technical Assistance Panel during the recent Urban Land Institute Real Estate Technology Summit.

Wong and mobility advocate and Angkas head of regulatory and public affairs George Royeca sat on a panel that discussed the regeneration of Poblacion and the possible developments that can be done in the area to make it both a more dynamic business district and a more livable place of residence.

“We aspire to help people rethink their communities by using available data to unlock creative solutions to urban problems,” Wong noted. “And we see Poblacion as a

very interesting case study in terms of how to address issues brought about by commercial development,” he added.

In his presentation prior to the panel discussion, Wong described Barangay Poblacion as “impossibly hip,” “gritty, raucous, crowded and fun.” He acknowledged, however, that the issues that arose due to its urbanization are hurting both the businesses and the residents in the area.

Wong revealed that they have sat down with local officials and other stakeholders to feel the current pulse of the district. “We aim to engage every crucial stakeholder to bring all issues to a common forum and arm the local community with corrective steps,” Wong stressed.

Based on initial stakeholder discussions that the AECOM did as part of the TAP, the most pressing problems in Poblacion from the residents’ point of view are traffic congestion, lack of parking, noise pollution, safety and security, solid waste management, pollution, and community displacement—in order of importance.

Moreover, from the discussions, they were able to cull some initial recommendations. For one thing, there has to be a unified vision in

order to spur new growth. There is also a need to repurpose some elements in the district, clarify and communicate regulations better, and consolidate efforts and encourage better participation in the value chain.

This early, the TAP has proposed goals for the district. For the short term, the goal of the regeneration of Poblacion should be stabilize and alleviate vulnerabilities. For the medium term, the goal would be to improve operations as a city district; while for the long term, the goal would be to spur low-carbon, high-density and authentic growth.

Mobility is key

ANOTHER important challenge that must be addressed in Poblacion is mobility. The increase in the number of establishments in the area has given rise not only to traffic buildups but also to the number of private vehicles needing to be parked there.

“I have always believed that mobility is integral to urban development,” Royeca declared. “But ever since Poblacion has become a hub of social activity, mobility has become a real issue there,” he continued.

“Sometimes people avoid going there because they know that they will have to contend with the

NOKAL, one of the most popular establishments in Poblacion

heavy traffic buildup and the grueling search for a nearby parking space,” he added. With that in mind, Royeca has come up with a grand design to mobilize Angkas, the appbased ride-hailing app, to serve as some sort of shuttle service to bring people from parking areas to the establishments they intend to visit.

“We plan to utilize Angkas as an added transport option for people going to establishments within Poblacion,” Royeca revealed, although critical to this plan is the setting up of a central parking area that may be used for this aspect of Poblacion’s regeneration.

Tapping stakeholders

ALTHOUGH no official partnership has yet been struck for the Poblacion regeneration, things are already moving forward. For one thing, the TAP, composed of Urban Land Institute members and other urban planning experts have packaged their insights into a report which will be submitted to the local officials and

made available online.

Moreover, acknowledging that other stakeholders may have new and innovative ideas on this particular case study, the proponents of the Poblacion regeneration have organized a pitchfest that aims to pick the brightest minds and draw out the best and most creative ways to redevelop the district.

In fact, the Angkas shuttle service idea was first broached on the pitchfest and already had ideational mind gears turning.

I will write more about the Poblacion pitchfest in a future installment of this column. Suffice it to say, however, that despite the current challenges that urban planning experts see in Poblacion, it seems that the place is in really good hands and all we can do now is to sit back and see how all the innovative ideas and noble plans pan out.

After all, Poblacion has always been Makati’s heart and soul. And as a resident of this amazing city, I only wish it the best.

DBP grants ₧1.6B for infrastructure in Camarines Sur

By Rizal Raoul S. Reyes

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@brownindio | Contributor

PREADING the growth in the provinces is a must to boost inclusivity in the country. Moreover, the provinces need adequate infrastructure network to give the people greater mobility in transporting their goods.

In line with this objective, the Development Bank of the Philippines (DBP) boosted its development initiatives in Camarines Sur through the grant of a P1.6-billion loan facility that would finance critical infrastructure projects and public facilities and improve social services to local residents, a top official said.

Cecilia C. Borromeo, DBP president and chief executive officer, said the bank granted a P1.485-billion loan to the provincial government of Camarines Sur that would partly finance more than 170 infrastructure

projects including the construction of farm-to-market roads and bridges, as well as the repair and maintenance of existing road networks.

“DBP continues to promote sustainable development in Camarines Sur with its latest funding assistance to the provincial government, which showcases the synergy between DBP and the local government unit in catalyzing economic growth in the countryside,” Borromeo said in a press statement.

Having an agricultural-based economy, Camarines Sur is a producer of rice, corn, feedmeal, freshwater fish, coconut, sugar and abaca. Furthermore, the province is comprised of 35 municipalities and two cities and is the most populous in the Bicol region with nearly 2 million residents.

By granting the loan to the province, Borromeo said would be able to bankroll the construction of multipurpose buildings, school buildings,

DBP Assistant Vice President Ariel Peña (third from left) and Pasacao, Camarines Sur, Mayor Niño Tayco shake hands after the loan agreement signing held recently. Also in photo are (from left) DBP account officer Maria Vivian Olayta, municipal accountant Myrna Boncodin, municipal treasurer Jean Oco, municipal budget officer Marvie Candelaria and municipal assessor Wilson Llamado.

hospital buildings, barangay halls and evacuation centers, as well as the acquisition of hospital machineries and equipment.

She said the bank and the provin-

cial government of Camarines Sur have been longtime partners with DBP financing numerous projects in the area, including the construction of the CamSur Watersports Complex

and Gota Beach Resort in the Caramoan Islands located in the eastern side of the province.

“These projects have helped boost the local economy and generate jobs by energizing the tourism sector in the province,” she said.

Meanwhile, Borromeo said DBP also granted a P120-million term loan to the municipality of Pasacao to finance the construction of a public market and transport terminal, which is expected to stimulate trade and improve the mobility of goods and people within the area.

“This is the first loan dealing of DBP with the municipality, which is considered as the summer capital of Camarines Sur,” she said.

Pasacao is a third-class municipality with a population of more than 49,000 people. The local economy is dependent on agriculture, fishery and tourism.

Originally known as the Repub-

lic Finance Corp., the forerunner of DBP was created under Republic Act 85, which absorbed the assets and managed the operations of the Agricultural and Industrial Bank (AIB).

The RFC provided credit facilities for the development of agriculture, commerce and industry and the recon 1958—The RFC was reorganized into the Development Bank of the Philippines. The change in corporate name marked the shift from rehabilitation to broader activities.

The government gave DBP an initial capital of P500 million. With an initial capital of P500 million subscribed by the government, the DBP expanded its facilities and operations to accelerate national development efforts. The government financial institution also tapped both foreign and local fund sources to complement its capital resources. Credits were obtained directly from international financial institutions.

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Wednesday, May 1, 2019 E3

IEE INAUGURATES NEW OFFICE

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NTERNATIONAL Elevator and Equipment Inc. (IEE) recently launched its new office building in Muntinlupa City alongside its existing corporate headquarters which symbolized the successes and enduring value delivered by the company for 50 years, and going beyond.

The distributor of Mitsubishi Electric in the Philippines, IEE promises to continue to bring the brand of technological innovation and excellent engineering services that customers have known and grown to trust in the last five

decades.

Noteworthy in the new building is its design that is intended to support the company’s next corporate lifetime. IEE Chairman and Mitsubishi Corp. Manila General Manager Keiichi Matsunaga

remarked that the new building would “provide new and better facilities to improve IEE’s services and will shelter the company from the business challenges ahead.”

IEE President Ramoncito A. Ocampo recog nized the sup port given by Mitsubishi Electric Corp. (Melco), Mitsubishi Electric Building Techno-Service Co. Ltd. (Meltec), Mitsubishi Corp. (MC), and their respective affiliates and partner companies along with IEE’s hardworking employees in powering the company through the past and in the coming more decades.

Other key representatives at the event were Ambassador-designate of Japan to the Philippines Koji Haneda, Melco President and CEO Takeshi Sugiyama, and Muntinlupa City Mayor Jaime R. Fresnedi, all of whom took the time to express their congratulations, their pride, and heartfelt thanks to IEE and all

A TESTAMENT of Long-Standing Value: IEE’s newly inaugurated office building serves as a “gift” for the next corporate life of the vertical-lift company. Fitted with new facilities, a showroom and an Escalator Training Facility, the building stands to house IEE’s employees for the next generations.

Global business players spur Cebu office market

LEADING the ribbon-cutting ceremony and grand launch of the new, innovative IEE office are (from left) Mitsubishi Corp. Senior Vice President and Division COO Terutora Urano, IEE Chairman and Mitsubishi Corp. Manila General Manager Keiichi Matsunaga, Mitsubishi Electric Corp. Senior Vice President and Group President of Building Systems Group Yasuyuki Ito, Japan Ambassador-designate to the Philippines His Excellency Koji Haneda, Melco President and CEO Takeshi Sugiyama, Muntinlupa City Mayor Jaime Fresnedi, Melco Managing Executive Officer and Group President of Living Environment and Digital Media Equipment Tadashi Matsumoto, and Mitsubishi Electric Building Techno-Service Co. Ltd. President Masami Yoshikawa.

that it has contributed in the elevator and escalator, air-conditioning, refrigeration and factory automation sectors.

Also present were Melco Senior Vice President and Group President of Building Systems Group Yasuyuki Ito, Melco Executive Officer and Group President of Living Environment and Digital Media Equipment Tadashi Matsumoto, Meltec President Masami Yoshikawa, MC Senior Vice President and Division COO Terutora Urano, IEE Executive Vice President Itsuo Arakawa, IEE Vice President and Treasurer Melecio Vicencio, IEE Assistant Vice President for E/E Service Henry Bayonas and IEE Assistant Vice President for E/E Installation, Localization and Safety Alfredo Pantaleon.

The new four-story office building features several functional offices and an impressive product showroom exhibiting the products of the company from elevators to air-conditioning units and generators. The showroom also boasts of a virtual reality elevator experience featuring the world’s fastest

elevator installed in the 2,073-foot Shanghai Tower in China.

An Escalator Training Facility is also housed in the vicinity to serve as venue for personnel to increase their capability on the proper installation, servicing and maintenance of Melco.

When asked further about the purpose of the new office building, Ocampo and Vicencio said that IEE’s refurbished headquarters was designed and built with the strengthening of the company’s human capital in mind. “The industry keeps changing,” Vicencio stated. “So we must adapt seamlessly.” They likewise reiterated the significance of the company’s mantra, “Changes for the Better,” in an effort to propel an innovative and empowering future reflective of the values of both IEE and Mitsubishi Electric.

On talks of an empowering future, the company continued to emphasize their heavy involvement in creating a sustainable future.

This was highlighted by the symbolic tree-planting activity which

demonstrated how IEE remains steadfast in helping protect the environment through eco-friendly initiatives.

Apart from the office and training facility highlighted that day, Ocampo shared the company’s thrust to strengthen its customercentric approach as a technology and engineering partner of choice.

“Excellent customer service is our forte, after all,” Ocampo noted, confident that their trademark aftersales service is one of the primary reasons their clients have chosen IEE for the past 50 years, and will continue to do so for many more years to come.

Since 1969, IEE has handled the design, sales, installation and maintenance of Mitsubishi Electric elevators and escalators in the Philippines. It ventured into air-conditioning in 1978, and has expanded into ventilation and cooling. Mitsubishi Electric equipment is found in schools and hospitals to premier office buildings and commercial establishments throughout the Philippines.

ETON PROPERTIES REPORTS RECORD 2018 PERFORMANCE

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EBU CITY’S talent pool and proximity to the cities of Bohol and Dumaguete, which also turn out top-notch graduates, have made it a hot spot for the shared services units of multinational giants like Amazon, the world’s largest online retailer, and Internet bigwig Google.

In anticipation of more multinational firms following in the wake of Amazon and Google, the city’s more seasoned developers have constructed world-class office towers like the 24-story Latitude Corporate Center at the Cebu Business Park, according to Phillip Anonuevo, executive director of leading real-estate services firm Leechiu Property Consultants (LDC).

The impressive office project is by Cebu Landmasters Inc., a big player in the Cebu residential market. The firm has since expanded to mixed-use and other projects in key Visayas-Mindanao cities. CLI’s Pezaaccredited building will be ready for occupancy by the end of 2019.

Occupiers at the higher end of the business-process outsourcing (BPO) chain, says Mikko Barranda, LPC associate director, have expressed interest in premium office buildings like Latitude with green, energy-efficient features and its own retail spaces centered around a plaza designed as a sanctuary for trees.

“Latitude represents a new generation of office buildings in Cebu more attune to the needs of global clients.”

Executives from Leechiu Property Consultants, the exclusive agents of the building, point out that Latitude’s key feature includes large floor plates of 2,200 square meter highly sought after by BPOs and facilitated by the building’s large footprint. Latitude, which is a joint venture between CLI and Borromeo Brothers, is built on two adjacent Cebu Business Park lots.

ETON Properties reports real-estate sales and leasing performance both posted steady growth in 2018. In photo during the recent stockholders’ meeting are (from left): Karlu Say, director; Vivienne Tan, director; Lucio Tan Jr., president/director; and Dr. Lucio Tan, chairman.

E A 24-story, Peza-accredited Latitude at the Cebu Business Park represents a new generation of office buildings designed to meet the needs of large, multinational global firms now assigning critical business units to the Queen City of the South.

Bobby Apas, LPC manager based in Cebu, says the main ground floor lobby with high-end finishes and retail spaces has elevators that lead to the 14th to the 16th floors designed for enterprises, and the executive offices from 17th to the 24th floors.

Both the 14th and 17th floors have roofdeck gardens that allow employees a breath of fresh air.

At the second level are more retails spaces and a lobby with elevators that lead to the BPO-ready floors on the eighth to 12th floors.

Each of the two lobbies is dedicated to employees working on the same time zones—those on standard Philippine time and those on night shifts dealing with clients in other time zones. The third to the seventh floors are parking levels.

All occupiers will enjoy the central location of Latitude close to Ayala Center Cebu; its 500 food and retail outlets; transport terminals leading to the Cebu metropolis’ main residential and other commercial areas; and Seda hotel.

TON Properties Philippines Inc. posted improved growth in 2018, thanks to strong real-estate sales and a robust leasing business.

The company reported a 2018 net income after tax of P479 million, 38 percent higher than the P348 million recorded in 2017.

With a stable economy as a backdrop, real-estate sales jumped by 102 percent to P1.7 billion, on the back of accelerated sales velocity and increased prices for its ready for occupancy units. These include 8 Adriatico in Manila, 68 Roces in Quezon City, The Manors at North Belton Communities in Caloocan City, and West Wing Residences at Eton City in Santa Rosa, Laguna.

Rental income also climbed by 8 percent to P1.5 billion as business

process outsourcings continued to renew their leases at higher rental rates, leading to a stable occupancy of office spaces. Eton Properties’s income from serviced apartments and property management services also contributed to the net increase in revenue for 2018.

Overall, the company’s gross revenues grew by 42 percent to P3.3 billion, from P2.3 billion. Eton Properties’s consolidated assets stood at P31.4 billion, 6 percent higher than the P29.7 billion consolidated assets as of 2017.

“Evidently, the global companies that have made our offices the site of their Philippine operations have seen how the strategic location of Eton Properties’s developments, combined with the wellthought-out facilities in each of these buildings, have contributed

to their operational productivity,” said Eton Properties President Lucio K. Tan Jr. Tan said Eton Properties will continue to maintain an optimal portfolio mix that balances recurring income and real-estate sales.

In 2018, Eton Properties completed the construction of Eton Square Ortigas in San Juan City.

The company also carried out construction activities for Cyberpod Five in Eton Centris in Quezon City, Eton WestEnd Square in Makati City and Eton City Square in Santa Rosa, Laguna.

In the years ahead, the company expects to continue the development of new projects in the mixed-use communities it has developed in Santa Rosa, Makati and Quezon City in formats that will address evolving customer needs.

Entrepreneur BusinessMirror

E4 Wednesday, May 1, 2019

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The art of slicing ham: Filipino brothers stamp mark in Spain as ‘maestro cortador’

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By Rizal Raoul S. Reyes

@brownindio

Contributor

ARVING ham, especially the succulent Spanish jamón, is an art by itself.

The Lopez brothers, Michael and Mark, of the Maestro Cortador Filipino (MCF), have developed the essential skills of carving ham, which they acquired through training, experience and hard work as immigrants in Spain, and eventually distinguishing themselves as maestros cortadores, or ham carvers, that had impressed even the Spaniards with their wizardry.

“Maestro cortador de jamón means jamón master carver. In the same manner that Japan has its sushi chefs, Spain has its jamón master carvers,” said Michael Lopez in a recent news briefing in Makati City.

“It is the master carver’s job to make sure that the jamón is served properly so that every bite will be fully appreciated. Carving a jamón requires impeccable knife skills and precision, which takes years to develop. And since the jamón is not really cheap, so to speak, it is also the master carver’s job to optimize the meat’s consumption and put every morsel on the plate,” Michael said.

A maestro cortador is needed if somebody needs their jamón served professionally. Having a maestro cortador carving on the spot is a spectacular addition to any social event.

Together with younger brother Mark, Michael seeks to promote MCF to the Philippine market and share the art of appreciating with their paisanos. This gives the Lopez brothers more reasons to visit the country more often.

MCF was launched by the Lopez brothers last year after working for more than 20 years at Restaurante Cinco Jotas. They had to quit their

jobs at the restaurant in order to accommodate the vast number of private functions that require their services as master carvers.They also put up their own company, the MCF, and have hired three other Spanish master carvers who are based in Spain. Lopez said they already have a full slate of 100 weddings for the rest of the year.

Michael honed his craft when he worked as a waiter at Meson Cinco Jotas (now Restaurante Cinco Jotas) in Madrid when his maestro cortador de jamón, Pedro Seco, saw his talent in carving jamón.

“He trained me and assigned me to take over for him during his days off. After a few months, Cinco Jotas deployed me to a different restaurant branch and made me the maestro cortador de jamón there. This was in the year 2000,” Michael said, Meanwhile, Mark started working for Cinco Jotas in 2002. He trained under Antonio Vara and, eventually, was also assigned to another branch.

Cinco Jotas is a trailblazer in the jamón business, producing jamón since 1879.

In 2003, Michael received his maestro cortador certificate after Cinco Jotas sent him for training at their headquarters in Jabugo, a village in Spain known for producing delectable ham. Mark got his certificate in 2007. “During the training, we carved jamón all day and were exposed to the entire production process of jamón Ibérico de bellota,” the brothers recalled.

Michael recalled their clients were initially surprised they were not Spanish. “Moreover, they thought we

MAESTROS cortadores Michael and Mark Lopez

were Chinos or Chinese,” they said.

Right now, MCF’s business in Spain is doing great. It hosted about100 events bookings for 2019.

Aside from the Lopez brothers, MCF has three other Filipino master carvers in its pool.

Michael cited the importance of social media in building the business, adding that their services became popular because people attending events in Spanish cities that serve jamón criticize the organizers for not having a master carver in the parties. “You can hire us just for the carving service or you can just buy jamón from us.

Or you can avail of both, we have packages for carving service with jamón,” Michael said.

In 2015, MCF added “Selección Privada” to its name. Moreover, it was during that time Michael and Mark launched their Cinco Jotas Private Selection. This means MCF personally inspects the quality of each Cinco Jotas jamón Ibérico de bellota for their clients.

Carving ham for celebrities

THE brothers have become in demand cortadores, jetting off to the world’s most luxurious and exotic

Lab meat, not plants, is protein’s future, food start-up Just Inc. says

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OOD start-up Just Inc., rebranded from Hampton Creek, doesn’t think the alternative for meat is just in plants—but in meat itself.

After creating plant-based products such as mayo made from peas and an eggless scramble from beans, the company is planning another round of fund-raising ahead of an initial public offering to help raise money as it diversifies its business into growing chicken, beef and pork in a lab. “The best way to do meat is not to do plant-based, but a meatbased approach,” Chief Executive Officer Josh Tetrick said of the new business strategy in an interview.

His pitch is not to the vegetarian.

Rather, he says, raising conventional meat is not environmentally sustain-

able. For many people, meat made from plants is no substitute. “Meat is part of our culture and identity, the way men and women think of themselves,” he said.

The push to raise capital is emerging from a new battleground in food, where supermarket sales in alternative meat surged 19.2 percent to $878 million in 2018, according to data from Nielsen. Food giants, including Tyson Foods Inc., have invested in cultured meat, and Beyond Meat Inc., the maker of vegan chicken and beef substitutes, is seeking to raise as much as $184 million in an IPO that values it at about $1.2 billion.

Tetrick is rebranding from Hampton Creek as he attempts to reset the San Francisco company after facing probes by the Securities and Ex-

change Commission and the Justice Department for possible securities violations and criminal fraud. He also faced a lawsuit over a trademark dispute and, in 2017, the loss of both business from retail giant Target Corp. and his entire board.

Tetrick said on Thursday that Just is worth $1.1 billion—a similar estimate for the valuation of Hampton Creek before the investigations. For Just, he said, the metric of its success will also come from its main product, Just Egg. The liquid made from mung beans to replicate the texture of eggs is available at burger chain Bareburger and Mid-Atlantic chain Silver Diner, as well as US grocery stores. Sales of that product will set the stage for the next round of fundraising, he said. Bloomberg News

23 Antique MSMEs showcase products in ‘Pasundayag 2019’

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AN JOSE DE BUENAVISTA, Antique—A total of 23 micro, small and medium enterprises (MSMEs) are exhibiting various local products as part of the ongoing “Pasundayag 2019” here organized by the Department of Trade and Industry (DTI).

Engr. Arlene Galopo of DTI-Antique said in an interview on Monday that bamboo crafts, hand-woven fabrics and different food products are available for sale in the trade fair which opened on April 27 and will run until May 1 at the Robinson’s

Mall here. “The Pasundayag 2019 is being held as part of the Tiringbanay Festival of San Jose de Buenavista,” she said. “Pasundayag” means celebration and exhibition in the Visayan dialect.

The Tiringbanay Festival is held annually by this capital town to usher its town fiesta on May 1.

“The fair is also being held to provide a venue for the buyer or consumer to have a personal contact with the local producer,” Galopo said.

She added that the fair is also intended to sustain the market

presence of the existing products.

Among the local exhibitors are the Ale Food Products of Alejandro Gonzaga, whose product line includes coffee, herbal teas and roasted peanuts; Ariana’s Coco Products owned by Dr. Clarissa Esmenos that produces virgin coconut oil; Buri Handicraft Association Inc. of Ma. Elene Hermogenes that produces bags, hats and tissue holders made of buri; and Esparar Multi-Purpose Cooperative led by Zenia Nacionales that makes malunggay powder, turmeric powder and vegetable noodles. PNA

locales to carve ham for celebrities, dignitaries and other VIPs. They are hired for their expertise in slicing, carving and serving the ham at weddings, official functions and other private events. They are the official ham carvers for the UEFA Champions Leagues, serving the superstar football players at their lounges pregames and postgames. They have also met celebrities like Penelope Cruz and Julio Iglesias, and dozens of famous chefs like Jose Andres, Joan Roca and Juan Mari Arzak, to mention a few.

MCF was even tapped by a rich Venezuelan businessman to carve ham for his birthday party in the capital city of Caracas. No less than Spanish superstar Julio Iglesias was the guest singer.

Being a top cortador, MCF’s market values has gain prominence. It has been tapped by Arcos, Spain’s leading kitchen knife manufacturer, as their ambassadors since 2008. When Arcos holds its events, MCF performs jamón-carving demonstrations. “We go to Germany annually to represent them at Messe Frankfurt for the kitchen fair,” Michael said.

The MCF brand carries different types of jamon such as: 1) Jamón Ibérico de Bellota (black label): 100-percent Ibérico, acornfed, bone-in Pata Negra, minimum 36 months curing, denomination of origin: Jabugo.

2) Jamón Ibérico de Cebo (white label): 75-percent Ibérico, grainfed, bone-in, minimum 24 months curing, denomination of origin: Guijuelo.

3) Jamón Serrano Reserva, bonein, minimum 15 months curing, protected geographical indication: Trévelez.

MCF can also carve ham for their customers even if they are not holding an event. Michael said they could carve the entire jamón and put the slices in vacuum-sealed packs, which the customer can open anytime. This also works for restaurants that would like to serve jamón but do not have an in-house cortador.

Indeed, the Lopez brothers from Marikina City had gone a long way since they joined their parents in Madrid in 1993. Michael went to Madrid in 1993 and Mark followed in 1995. “Our parents migrated to Madrid in 1983, I joined them in 1993 and Mark followed in 1995,” the brothers recalled.

Maestro cortador de jamón means jamón master carver. In the same manner that Japan has its ushi chefs, Spain has its jamón master carvers—Michael Lopez

New Technolux oven boasts of clean charcoal free food roast

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ECHNOLUX, the country’s biggest distributor of kitchen and laundry equipment and small wares for more than 43 years, has launched new business concepts that guarantee a quick return on investment at the recently concluded Franchise Asia 2019 at the SMX Convention Center in Pasay City.

Technolux introduced Lechi, a food business model that promotes and provides a healthier lifestyle, as it does away with charcoal fueling for roasted chicken, popularly known as the street side lechon manok.

Lechi uses the so-called convotherm combination mode that integrates convection and steam cooking methods to ensure that the chicken achieves perfect brown color while maintaining its moisture.

On the other hand, lechon kawali is air-fried using crispy and tasty mode of convotherm oven after being marinated. Technolux said frying without the traditional cooking oil promotes a healthy lifestyle for consumers.

Technolux also introduced the Frozen Fruity with Bursting Boba that uses Elmeco, a multipurpose cold-beverage dispenser, and Quiche and Tell Kiosk that sells quiches and tarts with a twist using Merrychef oven.

Technolux will not charge a franchise fee and royalty. Furthermore, it guarantees full support including manpower training, kiosks and small wares. Rizal Raoul S. Reyes

Marriott pushes to expand further into home-sharing

By Dee-Ann Durbin The Associated Press

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ARRIOT T is pushing more heavily into homesharing, confident that its combination of luxury properties and loyalty points can lure travelers away from rivals like Airbnb.

The world’s biggest hotel company will start taking reservations this week for 2,000 homes in 100 markets in the US, Europe and Latin America.

It plans to expand its Homes and Villas program to other locations.

For its part, Airbnb is encroaching further into hotels. On Monday, the San Francisco-based company said it’s working with a New York real estate developer to establish a 10-story hotel with 200 suites in Rockefeller Plaza in Manhattan. The suites will only be available through Airbnb’s web site.

Airbnb, which plans to go public but hasn’t made clear when, also acquired Hotel Tonight, a last-minute booking service, in March.

Hospitality is one of several industries that’s seeing traditional players and start-ups take tentative steps into each other’s turf. Automakers are exploring ride-hailing. Ridehailing companies are developing self-driving cars. Amazon is opening physical stores. Physical stores like Starbucks are experimenting with delivery.

Airbnb and Marriott will always have separate core strengths, but the convergence will continue, predicts Daniel Guttentag, an assistant professor of hospitality management

at the College of Charleston School of Business. “Each of them wants to borrow some of the best elements of the other one’s business,” he said.

Marriott is targeting families and groups, and the homes skew toward luxury, with prices ranging from $200 per night for a one-bedroom apartment to $10,000 for a full Scottish castle. Nearly 40 of the markets are in places where Marriott doesn’t currently have hotels, like Bar Harbor, Maine, and Bordeaux, France.

Marriott is a long way from matching home-sharing behemoths like Airbnb, which boasts 6 million listings worldwide, or Booking.com, which has listings in 220 countries.

The homes in its program aren’t even exclusive Marriott properties. Marriott is partnering with rental management companies to handle the maintenance and cleaning.

But Marriott believes it has advantages. Unlike its home-sharing rivals, it has a loyalty program that lets travelers earn and use points on its hotels and homes. Business travelers can accumulate points at Courtyard hotels, for example, and use them for a week at a beach house. Airbnb is working on a loyalty program of its own, but the rollout has been delayed.

Marriott says it also guarantees hotel-like standards that are often missing in home-sharing, such as Wi-fi, crisp white sheets, bath amenities, baby cribs and smoke alarms.

Airbnb has tried to tackle that problem with user reviews and its Plus program, which highlights rentals that meet higher quality standards.

But the sheer volume of properties

makes it difficult to police them all.

“One of the challenges you see with home-sharing is there’s too much inventory without quality filters or brand assurances,” says Stephanie Linnartz, Marriott’s global chief commercial officer.

Hotels have struggled to determine the right path into the homesharing market. Hyatt invested in Oasis, a luxury home-sharing site, in 2017, but said regulatory hurdles hampered Oasis’s growth. The companies parted ways last year.

AccorHotels bought home-sharing site Onefinestay in 2016 but has struggled to make money on it.

Choice Hotels, like Marriott, partnered with property-management company RedAwning and gets a cut of every property booked. For now, the home-sharing unit won’t be material to Marriott’s earnings, Linnartz said.

Marriott’s move is an acknowledgment that home-sharing— which has boomed in the last decade since Airbnb’s founding—has fundamentally changed guests’ expectations. People may be satisfied with a traditional hotel for a business trip or a soccer tournament, but sometimes they want something unique and memorable, Linnartz said.

At the same time, Airbnb is moving into hotels because there are customers—particularly business travelers—it’s having a hard time reaching because of its couch-surfing reputation. But the risk is that it will lose its aura of coolness and authenticity and become just another big company offering hotel rooms, Guttentag said.