BusinessMirror May 16, 2019

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

n Thursday, May 16, 2019 Vol. 14 No. 218

OFW remittances hit 5-month high in March By Bianca Cuaresma

T

@BcuaresmaBM

HE cash flow from Filipino migrant workers continued to rise by the end of the first quarter of the year, with the surge marking a five-month high, latest data from the Bangko Sentral ng Pilipinas (BSP) showed. The BSP reported on Wednesday a 6.6-percent increase in the remittances sent by overseas Filipino workers (OFWs) in March this year compared to the same month last year. The growth pushed actual dollar inflow to the country to $2.5 billion during the month alone.

On value, total remittances to the country in the first three months of the year hit $7.3 billion, up from last year’s $7 billion. Of the 6.6-percent growth in March, the 2 percentage points of expansion came from remitters based in the United States. The 1.7

percentage points came from OFWs in Singapore while the 1.2 percentage points were accounted for by migrant workers in the United Kingdom. The surge of remittances in these three countries accounted for much of the growth seen during the period. The growth for March 2019 was

$7.3B Total remittances to the country in the first three months of the year, up from last year’s $7 billion. Remittance flows for March alone hit $2.5 billion

the strongest monthly growth for remittances the country has seen in five months—or since October last year when it hit 8.7 percent. It is also a strong recovery from the weaker remittance growth in February at 1.5 percent. In March last year, remittances contracted significantly by 9.8 percent but recovered to average at 3.1 percent during the year.

T

@ReaCuBM

HE tax and revenue effort of the government improved for the first quarter of this year to 14.6 percent and 15.8 percent, respectively, due to the continuous implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, as well as tax administration initiatives, the Department of Finance (DOF) has reported. An economic bulletin of the DOF said the revenue effort increased by 0.5 percentage points, reaching 16.3 percent from the 15.8 percent recorded in the same period for 2018. Total revenues collected by the government for the first quarter of 2019 amounted to P687.7 billion, an increase of 11 percent compared to last year’s P619.8 billion. “National government revenues rose by 11.0 percent in the first quarter of 2019, outstripping nominal GDP [gross domestic product] growth which registered 7.4 percent for the quarter,” the DOF said. The Bureau of Internal Revenue (BIR) contributed P468.2 billion for the first quarter 2019 revenues of the government, while the Bureau of Customs (BOC) accounted for P141.9 billion of the total. Revenue from other offices con-

National government revenues rose by 11.0 percent in the first quarter of 2019, outstripping nominal GDP [gross domestic product] growth which registered 7.4 percent for the quarter.”—DOF Bulletin

tributed P5.8 billion to the total revenues for the three-month period. Total tax revenues for the period amounted to P615.8 billion, or 10.2 percent higher than the previous level recorded in the first quarter of 2018 at P558.7 billion. This pushed up the country’s tax effort by 0.3 percentage points, settling at 14.6 percent for the first quarter of 2019 coming from the previous rate of 14.3 percent in 2018.

Nontax revenue

MEANWHILE, nontax revenues amounted to P71.9 billion, resulting in an increase of 17.6 percent coming from the recorded P61.1 billion last year. “Nontax revenues rose by 17.6 percent due to higher collections of dividend remittances on national government shares of stocks, guarantee fees, and share in the profits of the Philippine Amusement and Gaming Corp. or Pagcor,” it added. See “DOF,” A2

PESO EXCHANGE RATES n US 52.3880

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 6 sections 48 pages | 7 DAYS A WEEK

Joblessness: Declining or growing? Rene E. Ofreneo

LABOREM EXERCENS

T

HE Philippine Statistics Authority (PSA) has given the country a puzzler: Is joblessness declining or growing? We raise this question in relation to the results of the January 2019 Labor Force Survey. As can be seen in Table 1, economic planners and labor officials have good reasons to be happy: employment rate up, unemployment rate down, and underemployment rate substantially reduced compared to their year-ago or January 2018 levels. Additionally, the PSA reported that the unpaid family workers declined percentage-wise, from 6.9 percent of the employed in January 2018 to 4.7 percent in January 2019. Also, those working at less than 40 hours a week (a major indicator of limited work available in the labor market) went down, from 57.1 percent of the total employed to 51.1 percent for the same period. More and better jobs mushrooming in the country? Continued on A7

See “Remittances,” A8

DOF: Govt tax, revenue effort improved in Q1 By Rea Cu

2017 EJAP JOURNALISM AWARDS

PHL back in Panda bond market

T

Lourdes, Sen. Aquilino Pimentel, and former Prime Minister Cesar Virata, among others. “In the new era of labor, we will engage in our best efforts to further promote stronger ties with the people of the Philippines. We are already witnessing positive developments both at grassroots and high level. [The] opening of the Consulate General of Japan in Davao this year is expected to enhance people-to-people exchange between Mindanao and Japan,” Haneda said. Earlier, the Department of Labor and Employment said it anticipated about 100,000 of the 350,000 jobs available for migrant workers

HE Philippine government successfully returned to the renminbi market on Wednesday with its second issuance of Panda bonds amounting to RMB2.5 billion with a three-year tenor. “So today we are returning to the Panda market. We are pricing, as we speak, the RMB2.5-billion issue. So as I’ve said yesterday, this is going to be through an auction process, and as we speak the auction is ongoing in Beijing [China]. We will know better at 2:30 p.m. today, we should’ve priced already the issue,” Deputy Treasurer Erwin D. Sta. Ana said. Monday (May 20, 2019) was the settlement date for the Panda bonds, officials said. No details were provided yet as to the rate of the Panda bond issue as the Bureau of the Treasury said that the auction for the government security was still ongoing on Wednesday in Beijing, China. The country’s first Panda bond issuance was in March 2018, with the awarded security amounting to RMB1.46 billion with a threeyear maturity. The bonds fetched a spread of only 35 basis points over the benchmark. The Philippines then set a record in the Panda bond market, as almost 90 percent was cornered by offshore or overseas buyers, with

See “Labor initiatives,” A2

See “Panda,” A2

AMBASSADOR of Japan to the Philippines Koji Haneda (left) and Foreign Affairs Secretary Teodoro L. Locsin Jr. raise their glasses to the occasion of the ascent to the Chrysanthemum Throne of Japanese Emperor Naruhito. Guests at the ambassador’s residence, including their spouses, also offer their toast to the recent auspicious event in Japan. RECTO MERCENE

PHL, Japan working on new labor initiatives By Jovee Marie N. dela Cruz @joveemarie

& Recto Mercene

T

@rectomercene

HE Philippines and Japan are now collaborating on new labor initiatives to further strengthen the ties between the two countries, the Japanese ambassador to the Philippines said. Japanese Ambassador to the Philippines Koji Haneda made the statement as the Philippines and Japan celebrated ties in the “Reiwa era” under newly ascended Emperor Naruhito on Tuesday. Haneda also said deepening people-to-people relations and other cooperation projects are now in the

pipeline—efforts that are seen to be boosted when President Duterte visits Japan in late May, his third trip to Tokyo. Heralding a new age of Philippine-Japanese friendship, Philippine officials led by Foreign Affairs Secretary Teodoro L. Locsin Jr. and House Speaker Gloria MacapagalArroyo joined Haneda and other Japanese dignitaries in celebrating on Tuesday the ascension of Emperor Naruhito to the Chrysanthemum Throne. Speaker Arroyo and Locsin were joined by Malacañang Chief L ega l Counsel Sa lvador Panelo, the Speaker’s husband Jose Miguel Arroyo, Haneda’s wife, Iheka Haneda, Locsin’s wife Ma.

n JAPAN 0.4780 n UK 67.6277 n HK 6.6745 n CHINA 7.6197 n SINGAPORE 38.2813 n AUSTRALIA 36.3625 n EU 58.7008 n SAUDI ARABIA 13.9702

Source: BSP (15 May 2019 )

News

BusinessMirror

A2 Thursday, May 16, 2019

3 Comelec execs back probe of server’s 7-hour data outage

A

By Samuel P. Medenilla

@sam_medenilla

T least three commissioners of the Commission on Elections are now supporting a third-party investigation on the alleged irregularity in the operation of its transparency server for the 2019 polls, following a seven-hour data outage that drew howls of protest from political camps. Comelec Commissioners Rowena V. Guanzon, Luie Tito F. Guia and Marlon S. Casquejo made the manifestation to finally end speculation on the credibility of their transparency server currently being kept at the Parish Pastoral Council for Responsible Voting (PPCRV) in its headquarters in Manila. Guanzon said among the possible groups which could review

PPCRV, National Citizens’ Movement for Free Elections (Namfrel) and other election watchdogs have been calling for a full investigation on the transparency server after it suffered a seven-hour glitch in its operation on Tuesday. They expressed concerns this might affect the credibility of the final outcome of the 2019 elections. Comelec Spokesman James Jimenez said the perception is false, stressing the unofficial results from the transparency server are independent from that being transmitted to their servers. He noted the transparency server mirrors the elections returns transmitted by the vote-counting machines (VCM) to the Comelec’s official servers. “Election results from the VCM are transmitted to the municipal canvassing. This gives rise to the official track. It [VCM] will also transmit to the transparency server to mirror what was sent to the of

the transparency server is PPCRV itself. “They could do that on their own since they have the experts for that,” Guanzon said. Casquejo earlier said they are prepared to release to the public all the audit logs of their transparency server so interested parties could check if their were any irregularities within its programs.

ficial track,” Jimenez said. On Tuesday, Casquejo explained that the delay in the transparency server’s relaying of election results to the media, election watchdogs and PPCRV was simply the result of a sudden surge of data which passed through it, creating a information “bottleneck.” The explanation, however, failed to convince some groups, with some pushing for the suspension of the proclamation of winning candidates in the 2019 polls until the incident has been thoroughly probed. Jimenez said the proposal for a suspension of proclamation is unlikely to be approved by Comelec since it is currently based on a “speculative” fraud allegation. “They can make a call if they want, that’s their right, but in terms of likelihood its unlikely that anything will be suspended on the basis of their unsubstantiated allegations,” Jimenez said.

BI stops 5 victims of human trafficking from exiting Clark

F

IVE women were intercepted in two separate incidents by the Bureau of Immigration (BI) at the Clark International Airport for attempting to leave the country as tourists, but who turned out to be undocumented overseas Filipino workers (OFWs). The three women were arrested by BI port operations authorities on May 8 while attempting to board their flights to Malaysia and the United Arab Emirates. Three of the women were bound for Kota Kinabalu where they were hired to work as nightclub entertainers while the two were going to work in Lebanon as domestic workers. The victims claimed they were en-

ticed by a job offer they received online and subsequently met with their recruiter whom they identified only as a certain “Danilo” in a mall in Quezon City. During their meeting, the three women said they paid “Danilo” up to P100,000 each to land the job. They said they were offered jobs in a pub in Kota Kinabalu, and that their documents will be given to them in Hong Kong. The two other victims, on the other hand, presented fake visas to the UAE. During interrogation, they admitted having been offered jobs in Beirut, but that they were instructed by their recruiter not to reveal their true destination. “Obviously these women have been

Labor initiatives. . . in Japan will go to Filipinos with the implementation of the new Philippine-Japan Memorandum of Cooperation (MOC). The agency said the MOC is expected to take effect within the second quarter of the year. The MOC will cover 14 skilled categories including health care, building maintenance, food services, industrial machinery, electronics, food manufacturing, agriculture, hospitality, construction, shipbuilding, fisheries and aquaculture, parts and tooling and aviation. Aside from providing new employment opportunities, the MOC will also improve the cooperation between Philippine and Japanese authorities when it comes to the recruitment of OFWs and ensuring the protection of their welfare in Japan. Moreover, Haneda noted, the

Continued from A1

robust diplomatic ties of the Philippines and Japan is now at its golden age. “Across the 30 years of the Heisei Era of His Majesty Emperor Emeritus Akihito, the relations between Japan and the Philippines were immensely strengthened. We are now here enjoying the golden age of our strategic partnership,” he said. The ambassador expressed confidence such friendship will continue as Japan enters its Reiwa Era (interpreted as beautiful harmony), following the abdication of Emperor Akihito on April 30, 2019. Emperor Naruhito is the 126th monarch to occupy the throne in accordance with Japan’s traditional order of succession. Haneda said the emperor emeritus “shall for us remain a bright, shining example for generations of people who aspire for peace and sta-

victimized by unscrupulous human-trafficking syndicates that prey on the poor,” the BI said.“We must pursue cases against these illegal recruiters to protect our fellow Filipinos from exploitation in foreign lands,” it added. The BI said many human-trafficking victims are sometimes forced into prostitution, or become virtual slaves, with salaries far below industry standards. “Illegal recruiters will put their victims in a tight spot. The victims, knowing that they entered through illegal means, would be forced to agree to the unfair work conditions given to them and would even be asked to pay via salary deduction hefty sums for their recruitment,” the BI

pointed out. The incident prompted Immigration Commissioner Jaime Morente to alert BI personnel in ports outside Manila to be on the lookout for other trafficking victims who might attempt to leave via the same scheme. Morente said the incidents only show that trafficking syndicates are trying to use other international airports for their operations after interceptions were stepped up at the Ninoy Aquino International Airport. The five women have been turned over to the Inter-Agency Council Against Trafficking for further investigation and assistance. Recto L. Mercene

bility with honor and independence.” In his speech, Locsin said the Reiwa Era under the new emperor is a time of peace and prosperity. “On the bilateral front, we are confident that the Reiwa Era will impart a stronger impetus to our strategic partnership. Japan has an important place in our pantheon of real friends,’” he said. He said Japan is the Filipinos’ inspiration that one can be a friend of the strong, without submission, “for in her tightest alliance she has ever held to her true course.” Locsin said that, for millennia, the emperor has personified the unity of the Japanese people and the continuity of Japan’s age-old traditions. He continued: “Japan is the longest-lived, continuous civilization in history, and there is good reason for it,” such that “in this modern age, when the old tends to be forgotten in favor of the new, it comforts and inspires the rest of us to witness this historic transition

and with it, the depth and richness of the Japanese people’s connection and respect for their past as a touchstone for shaping their future.” He said the secret of longevity of Japan’s culture “lies in its constant striving to be ever purer in the expression of the Japanese character, in its unique exultation of the perishability of beauty, and therefore all the more the imperative to keep it fresh by constant refining. “What passes is excess, what fades is the inessential, what stays is simplicity; therein lies the universal appeal of Japanese culture.” Secretary Locsin then recited a Japanese Noh play: “Wind at morning, rain at night, Today and tomorrow, Shall be part of long ago. We who pass through a world, Evanescent as the dew of evening, Uncertain as the skies of spring. We that are as foam upon the stream—can anyone be our enemy?”

Scarborough. . .

DOF. . .

trust and confidence “within the ADMM-Plus navies.” “This is an opportunity for us to strengthen the security and peace and maintain cooperation in the region. Today, all of us are to remain committed to peace and stability, to secure these rules-based maritime waters reinforced by practical cooperation,” she quoted Lt. Gen. Melvyn Ong, chief of the Singapore Defense Force, as saying. The Philippine Navy’s patrol ship BRP Andres Bonifacio (PS17) joined 18 other warships, 10 aircraft and more than 1,500 personnel during the exercises in the waters of Busan, South Korea, and eastern Singapore. Roxas said that Capt. Roy Vincent Trinidad, head of the Philippine contingent, declared that the Philippine Navy had achieved its goal during the exercise. “We were able to enhance our maritime operational capability to multilateral level, thereby increasing our readiness and interoperability while engaging our partner navies,” she quoted Trinidad as saying.

THE government’s expenditure effort, meanwhile, decelerated to 18.5 percent, or lower than the 19.7 percent recorded in the first quarter of 2018, due to the reenacted budget. “The moderated growth in expenditures led to a lower national government deficit which settled at 2.1 percent of GDP,” the DOF

Continued from A8

Continued from A1

Expenditure effort

Panda. . .

Continued from A1

overwhelming demand pushing the coupon rate to its lowest at 5 percent, according to the Department of Finance (DOF). The Philippines’s offering was 6.3 times covered with RMB9.2billion orders.

T-bonds auction

MEANWHILE, the BTr awarded the full P20 billion on offer for the reissued seven-year Treasury bonds (T-bonds) on Wednesday, as rates for the security were at least 19 basis points lower than the previous auction rate. The rate for the security settled at 5.743

said. Total expenditures for the period recorded a slight uptick of 0.8 percent amounting to P778 billion, coming from P772 billion in 2018. “The delay in the passage by Congress of the 2019 budget weakened expenditures and the domestic economy. National government underspending was estimated at P69.5 billion using the difference between the full-year expenditure program of 9.8 percent and the actual first-quarter expenditure growth of 0.8 percent,” it added. percent, or a 19.1-basis-point decrease compared to the previous auction level of 5.934 percent. “Another great auction for us, more than 2.5 times covered, obviously, so we are awarding it at 19 basis points lower than the previous auction we had in March. So it’s a good turnout,” Sta. Ana said. Bids for the government security amounted to P51.278 billion, which is more than twice oversubscribed. The lower rates were attributed to the recent move of the Bangko Sentral ng Pilipinas (BSP) to ease its monetary-policy stance, as well as the continuous downtrend of the country’s inflation rate. Rea Cu

www.businessmirror.com.ph

PCOO slams US comedy show for ‘demonizing’ Duterte on eve of polls By Bernadette D. Nicolas @BNicolasBM

T

HE Palace has expressed outrage over an American comedy show episode shown on Netflix “demonizing” the President and his administration before the global audience. Presidential Communications Operations Office (PCOO) Secretary Martin M. Andanar said the episode spewed out “falsehoods” about the government’s drug war and he took offense at its finding fault with the President’s endorsement of certain personalities for the senatorial race. “We find it desperate that, on the eve of the Philippine midterm elections, the vociferous detractors of President Rodrigo Roa Duterte would use an American comedy show, aired on Netflix, to demonize the Chief Executive and his government in its episode, entitled ‘Brazil, Corruption and the Rainforest’ before the global audience,” Andanar said in a statement late Tuesday. Andanar also called Hasan Minhaj, the American comedian and host as “gullible,” adding that Minhaj “maliciously implied” that President Duterte is an“autocrat”who“every so often goes on a killing spree.” The Palace official disputed Minhaj’s claims that the 27,000 people died due to government’s war on drugs, saying there are only about 5,050 drug personalities who died during the 115,435 antidrug operations from July 2016 to November 2018, based on the Real Numbers PH program of the government. “We express outrage that such erroneous narratives, obviously peddled by anti-Duterte haters and trolls, would find their way to the gullible TV host and his comedy show and unwittingly parrot these falsehoods to an audience unaware of the real score in the Philippines,” he added. Since assuming his post in 2016, Duterte has been criticized for the alleged extrajudicial killings as a consequence of the government’s drug war. However, the government has since denied that these killings were statesponsored. The PCOO secretary also noted the report of the Philippine National

Police that a large number of deaths was the handiwork of vigilantes due to the rivalry between drug gangs. There were also 164,265 individuals arrested during the same police operations, he added. Aside from law enforcement, the government said about 303,533 individuals graduated from the government’s rehabilitation programs. “For the information of Mr. Minhaj, 6 out of 10 Filipinos pointed out that the illegal drug users in their areas have decreased based on independent pollsters, attesting that the campaign is effective. Also, 7 out of 10 Filipinos mentioned that the Duterte administration is serious in solving the killings in the country,” he said. Moreover, Andanar said the government is continuously working on reducing the poverty rate, which it believes is the root cause of the drug problem. “With regard to the root cause, which is poverty, the Duterte administration remains committed to bringing comfortable lives for all. The latest survey shows that hunger incidence among Filipino families decreased to 9.5 percent while adult joblessness dropped to 19.7 percent,” he added, citing survey results from the Social Weather Stations. The Palace official said preliminary results of the nationwide polls also proved that voters continue to believe in reforms advocated by candidates endorsed by the President. Andanar’s statement came as the administration-backed bets apparently dominated the senatorial race, according to partial and unofficial results. Andanar also took a swipe against Minhaj for heaping praises on journalist Maria Ressa and detained Sen. Leila de Lima for “standing up to Duterte.” Andanar noted the cases against the underwent legal processes and their politics, or opposition to President Duterte, has nothing to do with the charges that they are now facing. They are accused of having “violated domestic laws with Ms. Ressa committing tax evasion, breach of anti-dummy laws, and violation of cyber laws; and Senator de Lima transgressing antidrug laws,” he added.

Postelection ops: MMDA hauls off 7 trucks of poll materials; recyclers invited

T

HE Metropolitan Manila Development Authority (MMDA) has collected a total of 21,700 pieces of electionrelated materials in the metropolis a day after the May 13 midterm elections. MMDA Chairman Danilo Lim said their goal is “to rid the major roads in the Metro of campaign materials and spruce up public schools until this week so the public can prepare for the opening of classes next month early.” In its post cleanup report on May 14, the MMDA’s Metro Parkway Clearing Group (MPCG) said collected campaign materials of varying sizes is equivalent to 23.42 tons and filled up seven dump trucks. With the use of scraper and sprayer, clearing operation teams scratched election materials pasted on concrete walls and fences in major thoroughfares. Using man lifters, workers also took down tarpaulins, buntings and posters hanging on electrical posts, wirings and trees while street sweepers removed leaflets, sample ballots and flyers in the vicinity of public schools.

Oplan Baklas

MEANWHILE, Francis Martinez,

MPCG chief, said they confiscated 134,700 pieces, equivalent to 145 tons, of election-related materials in various areas in Metro Manila under the “Oplan Baklas” operation before the elections. The Oplan Baklas campaign ran from March 1 until the election day and was meant to take down campaign materials placed outside the designated areas of the Commission on Elections. “All in all, we have collected so far 168.84 tons of campaign trash this midterm elections,” said Martinez. Campaign materials are brought and stored at the flyovers in Santolan and Nagtahan for sorting and recycling. “Various groups in need of candidates’ tarpaulins to recycle them into bags, place mats, school supplies and other useful items can coordinate with us,” said Martinez. According to Martinez, this year’s collection is lower compared to 2016 national elections where campaign mater ials gathered reached 206 tons. The cities of Manila, Quezon, Parañaque and Makati accounted for the most number of collected campaign materials. Claudeth Mocon-Ciriaco

News BusinessMirror

www.businessmirror.com.ph

Thursday, May 16, 2019 A3

PIDS study pushes sustainable methods in forest management

I

By Cai U. Ordinario

@caiordinario

N order to push for more sustainable methods in forest management, a study released by the Philippine Institute for Development Studies (PIDS) recommended the passage of the Sustainable Forest Management bill into law. In a study titled Forest Protection in the Philippines, PIDS Senior Research Fellow Sonny N. Domingo and Research Analyst Arvie Joy A. Manejar said policies in the forestry sector lacked enforcement and institutionalization. This has caused the country’s forest cover to decline to 6.840 million hectares in 2010, from 17 million hectares in 1934. Of the total forest cover in 2010, the open forest has the largest share among at 4.595 million hectares followed by closed forest with 1.934 hectares and mangrove forest with 0.311 million hectares. “The significant reduction in forest cover may have been brought about by decades of lax legislations promoting extractive industries. It can be said that the policy landscape for the said sector experienced shifting priorities, which resulted to overlapping priorities and implementation delays on the ground and across regions. Overall, it lacked provisions in enforcement and institutionalization,” the authors said. “Forest protection initiatives such as Law in Program and the E-Filing Monitoring Systems were under way, but these could be strengthened with the passage of Sustainable Forest Management Bill in order to establish more sustainable methods of forest management,” they added. The proposed law, Senate Bill 402, mandates sustainable and rational development of forestland resources and the protection of existing forest resources and conservation of biodiversity.

It follows guiding principles on watershed management, multisectoral representation, community-based forest management, economic and ecological reforestation, equitable access to forest resources, and professionalism in forest service. Under the bill, the Department of Environment and Natural Resources (DENR) and related agencies will craft a forest management plan that can be included in the local government unit’s (LGU) Comprehensive Land Use Plan (CLUP). It will also serve as precursor to consultations prior to any forestry project to be implemented in their jurisdiction. The DENR will also have to craft sustainable forest management strategy for each watershed and forest unit. The bill also provides that reforestation and afforestation programs be put in place along with incentives to organizations and entities that will participate in the said programs. “City or municipal parks, communal forests, and tree parks are also planned to be developed,” the authors added. Apart from the bill, the authors recommended that enforcement personnel in Community Environment and Natural Resources Offices (Cenro) and representatives of other line bureaus, be provided with hazard pay and enough incentives to ease the burden of enforcement. Legal offices, the authors said, should also be improved to avoid unnecessary costs in transaction and safety. The Lawin program, for one, may be a good program for monitoring and evaluation. As for other programs like the National

Comelec eyes raps vs NPO for breach of COA audit rules By Samuel P. Medenilla

@sam_medenilla

T

HE National Printing Office (NPO), an agency under the Presidential Communications Operations Office, is now in hot water for allegedly violating Commission on Audit’s (COA) rules on the printing of around 61 million voter information sheet (VIS). The Commission on Elections (Comelec) said it is now studying the possibility of filing charges against still unnamed officials of NPO after they outsourced the VIS printing to Holy Family Printing Press. “I just found out about this yesterday [May 14]. This is against COA [rules] and [it] is a crime. They should have told us they cannot print [the VIS] in the first place,” Comelec Commissioner Rowena V. Guanzon told reporters in an interview. She explained Comelec decided to outsource the VIS printing for the 2019 polls due to lack of time. “Since they are also from the government, there would no longer be any need for bidding,” Guanzon said. She said NPO charged them P4 per VIS for the P61 million voters nationwide. Yet, another possible liabi lit y of

NPO, Guanzon said, is the wrong information printed in the VIS, which should have ser ved as an election primer for voters. “When the Comelec en banc learned it [VIS] contained incorrect information, we ordered our election officers not to distribute it,” Guanzon said. “Some of the assigned numbering to some candidates were wrong. It would have caused chaos [among the voters if distributed],” she added. The poll official said she is now personally considering filing a complaint against NPO. In a related development, the Comelec said it may withhold payment to their supplier of secure digital (SD) cards S1 Technologies Inc. “I would move for the en banc not to pay [S1]. They bid P29 million [for the contract] but they have cost this election a lot than that,” Guanzon said. This, after the Comelec reported it was able to register about a thousand defective SD cards, which were used in the 2019 polls. The poll body earlier said it is now considering imposing penalties against S1 for the incident.

AFP lowers poll alert status to ‘blue’

F

OLLOWING the relatively peaceful conduct of Monday’s elections, the Armed Forces of the Philippines (AFP) has downgraded its alert status from “red” to “blue” effective noon on Wednesday. “Red alert was downgraded to blue as of 12 noon today [Wednesday] now that nearly all local candidates have been proclaimed. And may be further downgraded to white or normal alert when the candidates to national positions will have been proclaimed,” said AFP Spokesman Brig. Gen. Edgard Arevalo in a message to reporters. Blue alert means 50 percent of all mili-

tary personnel should be inside camps and will be deployed for any contingency while red alert requires all troops to be ready for the same purpose. Arevalo added AFP chief Gen. Benjamin Madrigal Jr. has joined the nation in a call for unity as polls come to a close. “We may have differed in our choices, he said, but are one in our desire for good governance,” the AFP spokesman added. “We only have one country with one aspiration as a people which is national security and sustainable development that follows from strong basic institutions,” he said. PNA

Greening Program (NGP), the authors recommended that site-species matching be practiced, as well as establishing a nursery for endemic species to retain the ecological integrity of an area. The authors said government data showed there were six general causes of the decline in forest cover—fire, kaingin/illegal entry, illegal cutting of trees,

long dry spell and others. Fire was used as an umbrella term for incendiarism, hunting, throwing of cigarettes, forest fire and grass fire. The cumulative damages from 2000 to 2015 amounted to P378.74 million, the most coming from fires, which was calculated to be P238.26 million followed by other causes P90.56 million, and kaingin

P29.1 million, while Illegal cutting, clocked at P653.136.36 million damages. In 2000, the main causes of forest disturbances were illegal cutting and fire. Throughout the years, illegal cutting decreased. However, fire continued to persist even until 2015. It disturbed a total of 29,929.46 hectares, while illegal cutting covered 6,427 hectares.

A4

TheBroa

Business

Thursday, May 16, 2019

T

By Elijah Felice E. Rosales

HE trade war between the United States and China has now entered a new phase, and economies reliant on their supply chain like the Philippines can become collateral damage. This has prompted Manila to find a way to shield the country from the repercussions of a US-China showdown. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo revealed one of the country’s strategies to survive the face-off between the US and China in a news briefing last week. Guinigundo said forging bilateral freetrade agreements (FTA) with key economic partners, such as South Korea, will secure for the Philippines markets for its products in the face of a collapsing multilateral trading system. For Trade Assistant Secretary Allen B. Gepty, this is a sound strategy considering the fact that South Koreans know the Philippines more than any other nationality in the world. More and more Filipinos are also becoming fascinated with Korean culture and cuisine as evidenced by the mushrooming of restaurants offering samgyeopsal, a popular Korean dish. The Philippines and South Korea, which fought side by side during the Korean War, currently enjoy a strong bilateral relationship. The Philippines was the first Asian country to respond to the call of the United Nations Security Council to deploy forces to the Korean Peninsula during Korea’s hour of need. The government sent the Philippine Expeditionary Forces to Korea composed of five Battalion Combat Teams. In the economic front, Seoul continues to help the Philippines via official development assistance (ODA). Also, South Koreans were the country’s top visitors last year, according to data from the Department of Trade and Industry. A total of 1.58 million South Koreans visited the archipelago in 2018. They accounted for 22.28 percent of total tourist arrivals. South Korea’s record as top tourist market for the Philippines earned it recognition from the Department of Tourism the “Visit the Philippines Award” at the recent culminating activity of Mission: PHL, the BusinessMirror Envoys&Expats Awards, the first and only recognition awards for the country’s development partners. The same trend of South Korea topping arrivals in the Philippines was seen in 2016 and 2017, when tourists from the East Asian country totaled 1.47 million and 1.6 million, respectively. Gepty said this is one compelling reason to negotiate an FTA: the existence of respectable peopleto-people relations. “They are the number-one tourists in the country, [and] they have a lot of products now being marketed here in the Philippines,” Gepty explained.

Aspirations

SOUTH Korea has been one of the Philippines’ most significant trading partners in recent years. Merchandise trade between the two economies posted a compounded annual growth rate (CAGR) of 15.7 percent between 2014 and 2018. Last year bilateral trade improved by an annualized rate of 7.11 percent to $13.7 billion, from $12.79 billion, according to figures from the Philippine Statistics Authority (PSA). The Philippines mainly exports industrial products, including electronic parts and manufactures, and farm goods, such as bananas, to South Korea. However, latest PSA data reported shipments are generally on a decline the past five years. Exports to South Korea last year fell 41.33 percent to $2.54 billion, from $4.33 billion in 2017, on double-digit contraction in shipments of electronics and manufactures.

Banana exports jumped to 203,692 metric tons (MT), with a value of $203.69 million, from 176,555 MT, valued at $176.55 million. Overall, shipments to South Korea recorded a contraction of 0.2 percent in CAGR from 2014 to 2018, according to government computations. This was coupled with a surge of 21.7 percent in imports from Seoul during the same period, as imports last year increased 31.91 percent to $11.16 billion, from $8.46 billion in 2017. Manila’s trade deficit with Seoul more than doubled to $8.62 billion, from $4.13 billion. Gepty, who is also the government’s lead negotiator in talks with South Korea, is hoping an FTA will reduce the trade gap. “Among others, we cannot really discard the fact that when it comes to FTA, market access is one interest that we have to pursue, particularly for those products of interest that we have,” Gepty said in an interview with the BusinessMirror. “These products would include agricultural products, [as well as] tropical fruits. More than the agricultural goods, we have also other industrial products that we can push also to the South Korean market,” he added. Senen M. Perlada, director of the DTI’s Export Marketing Bureau, said the Philippines will push for the elimination of both tariff and nontariff measures on farm exports in FTA negotiations with South Korea. “Among other export interests, we would like South Korea to further open their market for Philippine agricultural products. In particular, we would like to make the bilaterals a venue to manifest our strong interest for South Korea to lower—if not eliminate— tariffs on banana exports, mango exports, processed fruit products, such as mango purees, and other fruit purees,” Perlada told the BusinessMirror. “Also, the nontariff measures on these products and other agricultural products [must be removed],” he added. Gepty also said the trade deal could pave the way for more South Korean orders of products from the regions. He argued that local craft and furniture makers “will have a good platform to market their products” if an FTA is concluded with Seoul. “Also, we have a lot of products, especially furniture, that are made from the regions, and an FTA could enhance their export opportunities to South Korea,” the trade executive explained.

Attracting capital

ON top of market access agenda, the government is hoping a trade deal will also lead to more capital inflows from South Korea. PSA data showed approved investments from the East Asian country have been rapidly declining since peaking to P23.16 billion in 2015. On an annual basis, South Korean investments slumped 30.35 percent to P16.13 billion in 2016, crashed 79.1 percent to P3.37 billion in 2017 and plunged 44.21 percent to P1.88 billion last year. “If there is one thing that is very important in an FTA, you can, in a way, create a more stable investment environment in the country, [which is] very vital. In other words, in terms of laws, rules, regulations, arrangements, you define that,” Gepty said. He added negotiating parties can agree on investment areas they

THE KOREA PHL leans on strong ally in East Asia to shield producers from US-China trade war

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, May 16, 2019

AN CARD

intend to prioritize to boost capital exchange. Board of Investments (BOI) data reported the highest funded South Korean projects approved by the investment body between 2014 and 2018 were mostly in the utilities sector. Seoul has a 35-percent share in the first phase and 100-percent share in the second phase of the P5.78-billion 48-megawatt solar power project of Del Sol Energy CGS Inc. in General Santos City. Moreover, it has 40-percent equity in the P11.64-billion, 160-megawatt solar power development of El Elyon Power Plant Philippines Inc. in Sarangani. It also has a 20-percent share in the P8.37-billion Bulacan Bulk Water Supply Project of Luzon Clean Water Development Corp. under the concession agreement with the Metropolitan Waterworks and Sewerage System. The project generated an estimated 1,089 jobs—the highest among South Korean investments approved by the BOI over the past five years.

Interests

IN expanding South Korea’s portfolio in the Philippines, Trade Undersecretary Ceferino S. Rodolfo said the government is amenable to providing tax incentives to developers of electric vehicle infrastructure, such as charging stations. In an interview with reporters in April, Rodolfo said South Korea has many e-vehicle brands that are respected in the industry, and manufacturers might be interested in producing them in the Philippines. In exchange, the government is willing to develop the market and put up the infrastructure for e-vehicles. “If, say, we will help you develop the market and infrastructure for electric vehicles here, would you be able to assemble [them] here? In particular, we are interested in electric motors. [We are also interested in] batteries because we have nickel and copper wires,” Rodolfo explained. The government can provide tax holidays and incentives for developers of e-vehicle infrastructure, such as charging stations. Further, it is open to reducing tariffs on automotive inputs needed in the production of parts and assembly of units. “We can include in the IPP [Investment Priorities Plan] the putting up of charging stations, as well as other infrastructure. If they say [they] could probably make [the Philippines] as assembly center but they need lower tariff rates on particular e-vehicle parts, we are open to that. We really need to be more practical, and examine line by line what it is they need,” Rodolfo said. These compromises on tariff and incentives can be discussed in formal FTA negotiations. According to Gepty, Manila can capitalize on its young labor force to attract more research and development cooperation with Seoul. “That is one important consideration in this FTA. We want to come up with an FTA that will also address and enhance the collaboration of the two countries when it comes to research and development, innovation and other technological development. With our young, dynamic and highly skilled work force, definitely, we can be competitive in these areas,” the trade negotiator argued.

SKYPIXEL | DREAMSTIME.COM

Managing expectations

HOWEVER, lawyer Anthony A. Abad of Abad Alcantara and Associates pointed out that the government has to prove in FTA talks that it can manage and protect large investments, especially with what happened to Hanjin Heavy Industries and Construction Philippines Inc. The ship builder in January sought help from the courts, after struggling to pay $412 million in loans to five domestic banks. “Hanjin shipyard was a Korean corporation, and the biggest foreign investor in the Subic Bay Freeport Zone,” Abad said in an e-mail to the BusinessMirror. “Its corporate bankruptcy is the largest bankruptcy ever recorded in the Philippines. Thus, we present a risk profile to Korean investors with

respect to large investments based on our track record, and it is expected that a decline [in capital inflow] would occur,” he added. It is safe to assume then, Abad said, that South Korea will ask for investor protection terms in an FTA, such as fair compensation in cases of expropriation, mandatory investor-state dispute settlement, as well as a general push toward keeping the dispute resolution mechanism away from Philippine control. “What the Philippines should then focus on is to mitigate these investor protection terms to ensure that the Philippines is still adequately able to protect its own rights, while at the same time assuring that foreign investor rights can be protected. In addition, the Philippines should push to make it easier for free movement of investors and investments in the country,” Abad put forward. In spite of the financial trouble Hanjin ran into, Abad said the Philippines remains to be an attractive destination for South Korean investments. “[Last year] Hyundai Motor Co. signed a letter of intent exploring the possibility of opening a vehicle assembly plant in the Philippines. Proper incentives and investor protection provisions will increase the likelihood of the same pushing through,” the trade expert said.

Labor provision

ANOTHER provision the Philippines is eyeing to put on the table in FTA negotiations with South Korea is trade in services, Gepty told the BusinessMirror. “That is a possibility [inclusion of trade in services provision] because it will be a comprehensive agreement not just limited to trade in goods. It will cover investments, so we might have trade in services, too,” Gepty explained. Former Tariff Commissioner George N. Manzano said a deal on services will relax requirements and streamline procedures for Filipinos applying for work in South Korea. With a services agreement in hand, the East Asian country could become a labor haven for Manila’s young work force, especially to those who specialize in the fields of research and innovation. Data from the Department of Foreign Affairs reported there are at least 70,085 Filipinos working in South Korea as of 2017. “Our negotiators can put that on the table. They could ask the South Korean government to relax requirements for a working visa to allow easier entry for our laborers under a trade in services provision in the agreement,” Manzano said in an interview with the BusinessMirror. Further, a deal on services will provide investors with a more stable and predictable business environment, according to Gepty, as they can easily tap the labor markets of both the Philippines and South Korea under a liberalized services regime. “That is one of our primary objectives in this FTA. From the perspective of any businessman for that matter, anybody who wants to invest in a particular country, they want a certain degree of stability and predictability,” Gepty said.

Havens

ABAD has another agenda in mind. If South Korea could be a labor haven for Filipinos, he thinks the Philippines could be a retirement haven for South Koreans. “The Philippines should likewise actively try to negotiate for ease of movement in persons and travel and tourism promotion. The Philippines still remains a top tourist destination for most Koreans, with a reliably high travel volume for tourism purposes. This is a potentially growth industry, for example, with respect to the retirement visa and retirement home industry,” Abad explained. Turning the country into a retirement place for South Koreans will be beneficial to the Philippine Retirement Authority (PRA), as it seeks to increase the number of foreign retirees here to 80,000 by 2020. Data from the PRA showed there are at least 53,355 foreign re-

A5

tirees in the Philippines as of 2017. Most of the foreign retirees are from China, South Korea, Taiwan, India, Japan, the United States and Australia. “Improvements in free movement of people would encourage not only more Koreans to pursue retirement in the Philippines, but also for these retirees to consider investing their savings in MSMEs [micro, small and medium enterprises] in the Philippines. Hence, considerations of ease of movement for those seeking retirement visas would be very beneficial,” Abad said. Foreign retirees can apply for a special resident retiree’s visa (SRRV) offered by the PRA. The SRRV is a special nonimmigrant visa for foreigners who intend to make the Philippines their retirement home or investment destination. Benefits of obtaining an SRRV include indefinite stay with multiple entry and exit privileges; exemption from certain taxes and travel permits; and entitlement to health benefits, among others.

Warning

HOWEVER, think tank IBON Foundation warned the government to tread carefully in negotiating an FTA with South Korea. In a statement sent to the BusinessMirror, IBON said a trade deal could restrict the country’s policy space by legally preventing economic development programs supporting and protecting local industries. Liberalization of investment areas, it added, could hamper the development of several sectors, including agriculture. “The government’s framework in these deals is rapid and comprehensive liberalization and strong rights for foreign investors at the expense of government regulation in the public interest,” IBON said. “This globalization framework is, however, outdated and proven unable to deliver broad-based and sustainable economic progress. Nearly four decades of trade and investment liberalization has weakened local agriculture and industries, limited job creation, repressed incomes and worsened poverty,” it claimed. IBON called on the government to pursue first an economic agenda that will enhance local industries before negotiating bilateral and multilateral FTAs. The Philippines at present only has one bilateral trade deal, the Philippines-Japan Economic Partnership Agreement (PJepa), which entered into force in 2008. However, as a member of the Association of Southeast Asian Nations (Asean), it has market access to China, South Korea, India, Australia and New Zealand. The Philippines also has an FTA with the European Free Trade Association, made up of Iceland, Liechtenstein, Norway and Switzerland, and preferential tariff schemes to the US and the European Union.

‘Best effort’

THE government is completing domestic procedures, mostly consultations with stakeholders, before sitting on the negotiating table with Seoul’s trade officials. The agenda is clear for Trade Secretary Ramon M. Lopez: this trade deal should provide local players, particularly farmers, greater market access to South Korea. Both parties agreed to do their best to conclude negotiations by November, in time for the commemorative summit between the Asean and South Korea. As for Gepty, who will lead the Philippine delegation, it will be fairly easy to make the pitch on the negotiating table. He said trading partners are expected to have an interest in the Philippines, especially since it is one of the fastestgrowing economies in the region. And this can be dangled in FTA talks. “There are a lot of positive developments now in the country in terms of investments, infrastructure and manufacturing that you would expect any trading partner to have an interest in the Philippines. That could be one of the reasons we are one of the emerging economies,” Gepty said.

A6 Thursday, May 16, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

New senators must listen to our teachers

M

ORE than 60 million Filipino voters have spoken, and their message is crystal clear—a resounding vote of confidence for President Duterte. The Senate derby is crucial in these midterm polls, which is widely seen as a referendum on the chief executive. Why? Because the President would virtually control Congress if his endorsed slate of candidates wins all 12 Senate seats up for grabs. The lower house is already with him. There’s every indication that this will happen based on partial official results as we go to press, which showed a landslide defeat for the opposition. The victory of his Senate allies could be good for the country because a cooperative Congress could help speed up policy implementation, including the President’s plan to move the country to a federal system of government. On the other hand, it could also have negative implications for Philippine democracy by virtually eliminating a strong opposition in the Senate, which could provide the necessary checks and balances. The newly elected senators are likely to push Duterte’s agenda and protect him from legislative inquiry. Thankfully, the May 13 midterm elections were generally peaceful, despite reports of malfunctioning vote-counting machines and incidents of vote buying. In some areas, concerns were raised over alleged cases of electoral fraud due to delays in the transmission of poll results, but the Commission on Elections said these were addressed. Among the problems encountered during the polls were 1,000 SD cards equivalent to 450 to 600 vote-counting machines that malfunctioned. This caused delay in certain polling precincts. The church-based Parish Pastoral Council for Responsible Voting, however, said these were “usual problems” encountered during elections, like missing names and malfunctioning machines. Comelec Spokesman James Jimenez said the glitches have only hit a small portion of more than 85,000 vote-counting machines deployed nationwide. Although not problem-free, the midterm elections were generally successful, thanks to the more than half a million teachers manning polling centers nationwide. As election workers, teachers are responsible for making sure that voting goes smoothly as they verify voters, and handle election-related materials like ballots and vote-counting machines. Teachers are instrumental in helping the poll body to ensure clean and honest elections. For their election services, public-school teachers are paid the following: P6,000 for Election Board chairmen; P5,000 for EB members; P4,000 for Department of Education supervising officers; and P2, 000 for Deso support staff. On top of their honoraria, they also get additional P1,000 transportation fee. However, thousands of teachers who served in the May 13 polls were not given transportation fee despite Comelec assurances that they will get their transportation allowance a day before or during election day. What’s more, teachers on poll duties also suffer abuse from inconsiderate voters, particularly in polling centers with malfunctioning machines. To our newly elected senators, here’s an unsolicited advice: Our current election process can stand some improvements. We know we have good election laws, but the voting process can become dangerously unrepresentative and unresponsive to citizens if a number of voters are disenfranchised on election day, like what happened in some precincts where voters can’t find their names, among other problems. You can legislate solutions to these problems if you truly listen to the teacher-poll workers who know what ails our democratic process. As a wise man once said: “We should be creative, and we should accommodate the needs of every community to open up the democratic process. We should make it easy and accessible for every citizen to participate.”

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

OUTSIDE THE BOX

I

F the quality of my life depended on my doing any sort of mathematics, I would be living in a mud hut, eating dung beetles and wearing a rat-skin loincloth. When the “Bowmar Brain”—the first battery-powered handheld calculator made in America in 1971—came out, I bought one at $240. That is $1,500 in today’s money value. Because I am mathematically retarded, I have a love/hate relationship with the calculator. I love that the answer displays immediately. I hate the fact that I must rely on that answer without being sure what the calculator did to get it. Read this from the Rand Corp., a US-based global policy think tank. While partially government funded, its research/analysis is unparalleled. Over the last 60 years, more than 30 Nobel Prize winners have been involved or associated with Rand Corp. at some point in their careers. Journalism in the US “ has

gradually shifted away from objective news and offers more opinion-based content,” according to a new Rand Corp. report. “Journalism has become more subjective and consists less of the detailed event—or context-based reporting that used to characterize news coverage,” said Jennifer Kavanagh, a senior political scientist and lead author of the report. Dear Ms. Kavanagh, it is not just in the United States. The point is, while I do accept the answer from my calculator, I do not accept the garbage dressed as “expert analysis” from most sources.

Cecilio T. Arillo

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–San Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila

I want my data to be unbiased and not squeezed through a government or private bureaucracy. I prefer to eat my mango like an apple with the juice running down my beard. And unless you are in a shipwreck, “dried mango” is an abomination against God and nature. Why then would I give credibility to Rand Corp.’s “‘squeezed analysis”? Rand developed a text analytics tool that measured the amount of “data” against the amount of “opinion,” and found a shifting from a more academic style to one that is more narrative. For example, the so-called China/ US trade war is mostly characterized as a battle between two equal “superheroes.” The raw data says something else. At the high in 2006, 36 percent of China’s economy came from export earnings. Since the global debt crisis, that amount has been reduced to about 20 percent of GDP. In contrast, for the US economy, imports from China are just 2.7 percent of the GDP and exports to China are 0.9 percent. China exports 18 percent of its goods to the US, with 6 percent each going to Japan and the European Union, and 5 percent to South Korea. While specific sectors in the US

Expect not only serious water shortage but also death and destruction

Lourdes M. Fernandez

Ruben M. Cruz Jr. Angel R. Calso

MEMBER OF

John Mangun

T. Anthony C. Cabangon

Online Editor Social Media Editor

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

Narrative not facts

DATABASE

O

NE sure way to stop the recurring water shortage for Metro Manilans and the deadly flooding of the already silted Angat Dam is for President Duterte to order an immediate stop to logging and to reforest the dam’s 62,000hectare watershed cover. The dam’s reservation includes parts of Bulacan, Pampanga, Nueva Ecija and the Sierra Madre Mountain. As a result of the unabated logging, the dam’s original 217-meter water level is now only 85 meters, thus depriving Metro Manilans the equivalent of 132 meters deep of reserved water. The Angat Dam aqueduct was supposed to allow water flow of 22 CMS (cubic meters per second) from Angat to La Mesa Dam and thus supply the water requirements of Metro Manila and the adjacent provinces of Bulacan, Pampanga and Nueva Ecija. Worse, what remains of the

62,000 hectares, if reports are accurate, is now only about 25,000 hectares of watershed. Recently, the National Association of Lawyers for Justice and Peace (NALJP) and The Confederation of Government Employees Organization (Cogeo), headed by Atty. Jesus I. Santos, wrote Secretary Roy Cimatu of the Department of the Environment and Natural Resources (DENR), bringing to his attention the problem of water shortage, the unabated logging of the Angat Dam watershed and the continued siltation of the water reservoir. Santos, in his letter to Cimatu, cited in details the destructive

logging in the Angat watershed, the siltation of the dam’s water reservoir and the death and destruction due to flooding which was proven in a Senate investigation on the complaint of the NALJP. Angat Dam watershed was then a Virgin Forest. Sometime after the declaration of martial law, a close kin of former President Marcos sent two engineering battalions to Angat to cut high-class trees, including Lawaan, Kamagong and other expensive varieties that effectively covered and preserved the water reservoir. In reaction, President Marcos ordered Defense Secretary Juan Ponce Enrile to immediately stop the cutting of trees in the watershed and the cancellation of the permit granted to his kin, thus abruptly stopping the degradation of the watershed. Unfortunately, the next administration of President Corazon Cojuangco Aquino promulgated on July 16, 1987, Executive Order 224, empowering the National Power Corp. (NPC) to cut trees in the Angat reservation. It was then that the sad story of the Angat Dam watershed began to unravel in 1989 when the NPC brazenly issued permits to cut trees in

economy that export to China may suffer some business, overall this is not a contest between two competitors with both risking equal damage. The same is true concerning the Chinese renminbi taking over the US dollar’s role as the world’s reserve currency. When you read about this, there is little fact and a great amount of “narrative.” These are the facts: China does not allow the yuan to float. China does not have a global bond market and has capital controls. China is not willing to run trade deficits and does not respect property rights. Unless all that changes, the renminbi will never be the world’s primary currency. It used to be that journalism provided the facts and we created our own personal narrative. But now, in the words of US journalist Mika Brezinzski, “He [President Trump] could have undermined the messaging so much that he can actually control exactly what people think. And that, that is our job.” E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

the Angat Dam reservation that saw the destruction of the watershed. Because of the massive denudation, the dam is now terribly silted due to landslides and rampaging volumes of floodwater and debris coming from the mountain watershed. Sometime in 1978, floodwaters cascaded from the watershed, flooding large parts of Bulacan, Pampanga and Nueva Ecija, killing more than 300 people and destroying houses, poultries, piggeries and other valuables. On February 22, 2018, the NALJP and the Cogeo wrote to the DENR to request for a meeting regarding the continuous illegal logging in the watershed. The DENR granted this meeting, which was also attended by the governor of Bulacan and the PNP area commander. After the meeting, the DENR informed the group that there was a permit granted by the government to cut 26,000 trees, but the DENR reduced it to 3,000 trees only, based on a press release dated June 19, 2017. The NALJP and Cogeo asked the DENR local director what actions were taken on the following: “The tree-cutting projects granted to Angat Hydropower Corp. and See “Arillo,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

US wants EU cooperation Are we sacrament of love? on defense, or else Msgr. Sabino A. Vengco Jr. Leonid Bershidsky

T

BLOOMBERG HE US appears to be stepping up the defense demands it makes of European allies—a development that could complicate trade talks between the US and the European Union.

Spiegel Online reported on Tuesday that two Trump administration officials have written a letter to top EU diplomat Federica Mogherini to express their displeasure with the European effort to streamline procurement and with the fund the EU has created to develop new weapons. The letter, signed by Ellen Lord, the Pentagon’s lead procurement official, and Andrea Thompson, responsible for arms control and international security at the State Department, describes the moves as a “dramatic turnabout” in Europe’s defense sector integration with the US and a breach of European nations’ commitments to the North Atlantic Treaty Organization (Nato). It’s not the first time US officials have expressed concern about European defense cooperation outside Nato. Now, however, the qualms appear to be more specific, and they come with a threat of retaliation. At issue are two main points. Last June, the EU member-states decided that third countries’ participation in projects under the auspices of the EU’s Permanent Structured Cooperation on defense should be an exception and requires the consent of all the European countries engaged in Pesco. Also, the EU will allow nonEuropean participation in projects financed from the European Defense Fund only under certain conditions, such as giving Europe a say in where the new weapons systems are exported. The US, according to the Spiegel report, wants access to the projects and the right to make export decisions unilaterally—or else. Lord and Thompson reportedly wrote to Mogherini that the US would hate to retaliate with restrictions of its own but might be forced to do so unless Europe reconsiders. It’s only natural that the US is worried about losing European orders for military equipment. First came the Pesco rules, clearly aimed at prioritizing European defense suppliers. Then, earlier this year, Germany refused to consider the F-35 stealth fighter as a replacement for its obsolete Tornado planes; it favors the Eurofighter Typhoon, built by a European consortium. Ever since the EU declared strategic autonomy as its goal back in 2016, the direction of the bloc’s policy has been clear. Now, however, the practical matter of streamlining the 172 weapon

Arillo . . .

continued from A6

Dyke Rehabilitation Projects, which were contained in a letter dated April 27, 2017, as per letter of the regional director dated July 7, 2017? “What happened to the 3,000 trees cut and delivered to the compound of the controversial Hanjin Corp.? According to Director Francisco Milla of DENR’s Region 3, the 3,000 trees could only be taken out from the Hanjin compound with his consent. “Was the illegal logging in the Angat Watershed ordered stopped by Gov. Willie A lvarado ever followed?” Santos and the rest of his group never got a coherent answer. What really surprised Santos and local officials is that instead of the national government stopping the denudation of the Angat watershed, it is, in fact, the one abetting the destruction of the watershed with NPC, in particular, issuing the permit to log the area.

systems used by European armies, compared with just 30 in use in the US, is on the agenda. The unification should make competition tougher, and the EU’s intention appears to be to exclude outsiders as much as possible—especially as, since Donald Trump won the presidential election, strategic autonomy has gained urgency for European leaders. Trump is already unhappy with European Nato members’ defense spending levels. But concern about US companies’ access to the European market is another of the US president’s pet subjects. Now the two matters are coming together ahead of US-EU trade talks that, if unsuccessful, threaten to unleash a trade war like the one Trump is waging on China. It’s hardly in the long-term US interest to hamper the EU defense cooperation plans or to try to muscle in on them. Europe isn’t ready to ditch the American security umbrella: Full strategic autonomy might come at a steep price. The London-based International Institute for Strategic Studies recently calculated that European Nato members would need to spend between $288 billion and $357 billion to fill the military capability gaps that would be created by the loss of the US as a security partner. Letting the EU find ways to save on military procurement—and, with that in mind, expand their joint military industrial capacity—would make it unnecessary for the US to keep pushing Europe to spend more. It would create more capable security partners in Europe at a lower price. The strategic goal for the US, after all, is to improve deterrence in Europe, not to force allies to show loyalty by approving higher budgets. For Trump, however, the latter may well be more important. Given his America First agenda, he’ll probably find it hard to countenance any European capacity improvements that involve less revenue for the US defense industry. In addition to agriculture, where the US also demands more access to the European market and has been met with staunch resistance, the defense issue is likely to haunt the European negotiators. But it will probably be easier for them to compromise on, given that true and full strategic autonomy for Europe remains an ideal rather than a near-term goal. The Angat watershed is located mainly in the municipality of Doña Remedios Trinidad in Bulacan, with a smaller portion within the municipality of Norzagaray. The Angat watershed has an original total land area of 65,707 hectares. The water from the Angat Dam was supposed to run a 16-megawatt auxiliary generator and a 200-megawatt main generator to supply the power requirements of Metro Manila and the rest of Luzon. The dam was also intended to irrigate 20 municipalities in Bulacan and Pampanga. The dam was also capable of irrigating an average area of 23,000 hectares during the wet season and 27,000 hectares during the dry season when the sluice gates were opened. Prospectively, unless logging, both legal and illegal, is immediately stopped, expect not only another serious water shortage in the metropolis but also death and destruction in the coming rainy days. To reach the writer, e-mail cecilio.arillo@ gmail.com.

ALÁLAONG BAGÁ

H

OW does the risen Lord become real in our lives today? In what way does the resurrection of Jesus make a difference and is not just another event in the past otherwise irrelevant to the survival issues of the present world? The gospel reading for the fifth Sunday of Easter (John 13:31-35) pithily gives us the essential teaching of Jesus Christ so distinctive of Him that it is the measure of His abiding presence among us and of our fidelity to Him.

Love one another WHERE Jesus according to the other evangelists instituted the Eucharist during the Last Supper, John in lieu narrated what is called the last discourse of Jesus. This five-chapter narrative is evidently not only a pre-Calvary farewell address, but a lengthy post-resurrection teaching as well, intended for all believers of all ages. Following His washing of the feet of the disciples and the departure of Judas, Jesus enunciated His new commandment to His “children”: Love one another. Love as institutional. More than being merely moral or legal, this commandment is a doctrine that is

supposed to characterize the very life of His followers. “This is how all will know that you are my disciples.” This mission of love in conjunction with the washing of feet is presented to us as the meaning and equivalent of the Eucharist. For John this commandment of love is as much a memorial, a sacrament as the Eucharist. To participate in the Eucharist we must have love for one another, and when we love one another its highest expression is the Eucharist.

As I have loved you

THE criterion for the love we Christians are commanded to minister to the world is Jesus’ own love. “As much

Thursday, May 16, 2019 A7

as” He has loved us means similarity and conformity in depth and forms and expressions. It involves both the washing of feet and the self-offering on the cross. It connotes forgiving one’s enemies, giving drink to the thirsty and food to the hungry, visiting the sick and welcoming strangers, clothing the naked, willingness to be the last, and being beholden to the truth. Just as Jesus was and is in His whole life and in all His actions the sacrament of God’s saving love for humankind, so also His followers are mandated by the glorious Christ to signify and communicate this divine love in all their actions. Collectively as a community of faith and individually as His disciples, we are called to be a visible sign and sacrament of the love-presence of Jesus in the world. The command to love others is not unique to Jesus or His followers. The Jews are told in the law (Leviticus 19:18) to love their neighbors as they love themselves. But it is exclusive in terms of one’s relatives or compatriots, and it is with the presumption that one should hate one’s enemies. The mandatum of Jesus is universal love, without distinctions or qualifications; all the others are to be loved as one loves oneself. And this mission of charity has for its paradigm no other than Jesus Himself as the Lord of love and life. The extent of His

Joblessness: Declining or growing? Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

H

OWEVER, some questions need to be raised. First, why the plummeting Labor Force Participation Rate (LFPR) of those of working age, from 62.2 percent to 60.2 percent? The decline in the number of those who failed to join the economically active work force (with work or looking for work) was equivalent to over 1.6 million. Thus, strangely, the total labor force (employed plus unemployed) even dropped, from 44.075 million in January 2018 to 43.654 million in January 2019— in a country with a growing population! And the unemployed, numbering 2.32 million in January 2018, also shrank a bit, to 2.286 million in January 2019. Was the reduced LFPR due to the DepEd’s K-12 program, a program which added two years to the schooling for those finishing secondary education? This reasoning fails. The K-12 was adopted nationwide in 2016. Hence, the decline and other K-12 related adjustments in the labor market already occurred in 20162018. In fact, the labor force should have expanded beginning 2018,

when the secondary-school system started producing the stream of K-12 graduates. A better explanation for the mysterious drop in the LFPR is the increase in the number of those “not in the labor force,” or NILF. How many unemployed are simply placed in the huge basket called the NILF? As defined by the PSA, the unemployed cover “all persons who are 15

Table 1. Labor Force Survey

Philippines Population 15 years and above (‘000) Labor force participation rate (%) Employment rate (%) Unemployment rate (%) Underemployment rate (%)

January 2019 72,524 60.2 94.8 5.2 15.6

January 2018 70,897 62.2 94.7 5.3 18.0

Source: PSA web site

years and over as of their last birthday and are reported as: (1) without work and currently available for work and seeking work; or (2) without work and currently available for work but not seeking work for the following reasons: 1. Tired/believed no work available, 2. Awaiting results of previous job application, 3. Temporary illness/disability, 4. Bad weather, and 5. Waiting for rehire/ job recall.” Based on the foregoing definition, a person who is of working age, has no work and is not looking for work cannot be classified as unemployed. He/ she is simply lumped in the category NILF. The NILF includes the fulltime students, retirees and disabled. The NILF also include the fulltime housewives and househusbands. However, the culture of our society has changed: both men and women of working age have the right to have productive and meaningful jobs. In overseas migration and in the huge services sector, women workers outnumber the males. Now what is the ideal LFPR? In a robust economy with a productive population, it should be around 65 percent or more. Historically, the LFPR trend in the Philippines had been hovering around 62-63 percent. The January 2019 LFPR represents a sudden drop. It is an anomaly. The NILF includes the “discouraged workers,” defined by the US Bureau of Labor Statistics as those who dropped out of the labor force because they believe no jobs are available to them, especially after prolonged periods of idleness and prolonged failure to land any job. They are considered to be on the margins of the labor market because they are prepared to accept jobs if offered. However, when asked if they are

own love for them, the “tremendous lover,” is what He requires of them in their love for others. Saint John’s references to time: “only a little while longer,” “soon,” “now,” say that we do not have to wait for the end-time to savor the promised blessings. In Jesus, whose “hour” has come and begun, we already have God’s love as a reality here and now. Alálaong bagá, the question is on our part: Do we already live by the love of Jesus? In the five hundred years of Christianity in our land, what are the concrete signs of Jesus’ love operative in our midst? In a culture of politics of vested interests, of vicious prefabrications, of rampant graft and corruption, of brutish violence and injustice, and of numbing poverty, does Christianity not so nominal and but a distant dream? Where is the civilization of love we speak of? It is there because Jesus Christ is risen, but in inchoate forms and sparse instances on our part. The imperative for change and renewal in our culture is a call for authentic conversion among us Christians and is only postponed to our own detriment. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

looking for jobs, their answer is no. In the Philippines, the discouraged workers include those who “retire” from paid work at ages 40 and above. After a series of short-term contractual jobs, endo workers are usually discriminated in the hiring practices of manpower agencies, which prefer to get young and nimble workers. These early retirees are described by labor analysts as workers who are “too young to retire and yet too old to be hired” in a labor market that prefers young and flexible work force. At any rate, the results of the January 2019 labor force survey should alarm the Duterte administration. Dutertenomics is keeping the GDP growth high, and yet it is not delivering the jobs needed by the mass of Filipino workers. Jobs are disappearing in the stagnating agricultural sector. Not enough jobs are being created by the manufacturing sector, which is still stuck at the low end of the global value chains of the multinationals. It is only the construction sector that is generating jobs, courtesy of the government’s “Build, Build, Build” program. However, jobs in this sector are mainly short-term or project-based. Moreover, there are complaints that the unregistered Chinese workers are taking on the jobs that should have gone to the Filipino workers. It is time for the Duterte administration to undertake a serious and rigorous review of its economic and employment program. Needless to say, a scissor movement in economics —growing GDP but rising unemployment—can only deepen economic inequality and breed mass resentment over the state of economic and labor affairs in the country.

Carlos Ghosn got one thing right about Nissan By Anjani Trivedi Bloomberg Opinion

L

OOKS like deposed car executive Carlos Ghosn was right after all: Nissan doesn’t care about shareholder value. Nissan Motor Co. on Tuesday reported dismal earnings and gave an even grimmer outlook. Still worse: The company said it would slash its dividend by 30 perce. Chief Executive Officer Hiroto Saikawa then proceeded to talk about fanciful ideas of improving governance and the company’s transformation and recovery. No wonder the stock slumped as much as 8 percent on Wednesday, and is on track for its biggest daily drop in

almost three years. That’s after underperforming the Nikkei 225 since 2016. In his video message last month, Ghosn harped on Nissan’s “value destruction.” It’s hard to dispute him: Returns on equity have dropped to just about 6 percent from their peak of 16 percent two years ago. How can shareholders maintain any trust in management? Saikawa and the rest of the board have a history of keeping shareholders, especially minority ones, at arm’s length. Blinded by the prospects of a full merger with Renault SA, its corporate alliance and palace intrigue, the company’s leadership has consistently ignored investors’ changing sentiment. In 2017, an increasing number didn’t want Ghosn or Saikawa running the

company; and from 2015 to 2017, support for both deteriorated far more than for any other board directors. The blame for bad business practices and serious governance lapses lies as much on Saikawa as it does on Ghosn. But if the company’s reins stay in Saikawa’s hands, the damage could deepen. Consider Nissan’s latest outlook. Net income for its fiscal year 2019 is expected to fall 47 percent, but capital expenditure as a percentage of net revenue is expected to rise 12 percent, as is the portion spent on research and development. How can the company be talking about spending as the bleeding continues? Next, its operating-profit outlook points out that much of the deteriora-

tion will come from spending on compliance and improving its products, as sales of its baseline cars continue to slide. Meanwhile, Nissan is now targeting 6percent operating margins—more than double its latest 2.8-percent figure, and close to levels from three years ago. A lot has changed since then, at the company and in the global auto market. If anything, that outlook is misleading. Of course, slashing the dividend also makes Nissan less valuable for its single largest shareholder, Renault. But the French company’s insistence on merging is more a political maneuver than a solution to Nissan’s problems. If Nissan wants to regain shareholders’ trust, it might be time to push for an overhaul at the top.

2nd Front Page BusinessMirror

A8 Thursday, May 16, 2019

www.businessmirror.com.ph

China Coast Guard ships watch as PHL-US vessels conduct exercises near Scarborough

A

By Rene Acosta

@reneacostaBM

UNITED States Coast Guard Cutter concluded a series of capability training on Tuesday with two Philippine Coast Guard (PCG) ships near the Scarborough Shoal in the West Philippine Sea—with Chinese Coast Guard vessels keenly observing the sea-borne exercises. The training was held as navies from Southeast Asia and the Pacific region ended their two weeks of maritime training exercises in Singapore with the goal of strengthen-

ing peace and stability in the region. The US cutter Bertholf (WMSL 750) staged the exercises with PCG vessels BRP Batangas and BRP Kalanggaman that include search and

rescue near the Scarborough Shoal in the first sea training involving Coast Guard vessels from the allies. Chinese Coast Guard ships, which have established a regular presence in the area, along with Chinese Navy vessels through China’s de facto control of the shoal beginning in 2012, shadowed the exercises from a distance, but the allies simply ignored them and proceeded with the activities. “Bertholf completed an at-sea search and rescue exercise today [Tuesday] with our counterparts from the Philippine Coast Guard. This engagement proved an excellent opportunity to compare techniques, maintain proficiency

“Our relationship is critically important as we work together to ensure the ocean remains free and open, with a respect for international law and rules of behavior at sea, and where mariners are safe to carry out their livelihood—whether they’re on a cargo ship or fishing vessel.”—Driscoll

and build a friendly relationship among professional mariners and coast guards,” said Capt. John J. Driscoll, Bertholf’s commanding officer. “Our relationship is critically

important as we work together to ensure the ocean remains free and open, with a respect for international law and rules of behavior at sea, and where mariners are safe to carry out their livelihood— whether they’re on a cargo ship or fishing vessel,” Driscoll added in a news statement released by the US Navy’s 7th Fleet. The PCG, for its part, said in a separate statement that the training will kick off the activities of Bertholf and its crewmen who are expected to dock in Manila on Wednesday, days after two US Navy minesweepers berthed in Palawan. Meanwhile, the t wo-phase Asean Defense Ministers’ Meeting-

Plus Maritime Security Field Training Exercise (ADMM-Plus MARSEC FTX) 2019 ended on Monday in Singapore, with officials declaring it has boosted trust and confidence among the participating navies. The Asean exercise, the first phase of which was held in South Korea, was cohosted by Singapore and South Korea. Lt. Maria Christina Roxas, public affairs officer of the Philippine Navy’s Task Group 80.6, which joined the training, said that Singapore saw the two-week maritime security exercises as having reflected the abiding value of the ADMM-Plus, while building the See “Scarborough,” A2

Govt to require gencos to sell 70% of power plant capacity UNTRANSMITTED E.R. By Lenie Lectura

P

@llectura

OWER generation companies (gencos) will soon be required by the Department of Energy (DOE) to sell up to 70 percent of their power facilities’ capacity to distribution utilities (DUs) and allot the remaining 30 percent for other purposes. “As a way forward, we have to encourage power plants to be well maintained and we’re looking at a 70-percent cap of contracting with DU so that they can have more power available for replacement, ancillary service and for spot market,” said Energy Undersecretary Felix William Fuentebella. The energy official explained that this proposed policy would somehow help the gencos to properly plan how to distribute their capacity. Fuentebella also allayed

fears that 30 percent of a power plant’s capacity would be shaved off from the grid if realigned as replacement power, ancillary service and spot market purposes. “The 30 percent would still be there. It’s just that it’s no longer attached entirely to the DU,” he said. This suggestion would be in form of a department circular, the draft of which could be issued next month. Public hearings would have to take place before the proposed policy is finalized and signed by Energy Secretary Alfonso G. Cusi. “It is now being drafted. Hopefully, it will be out soon,” said Fuentebella. A check with the Energy Regulatory Commission revealed that there are no existing standards in place yet as to the ratio of supply allocated by a power firm to its customer. This proposal comes after a series of yellow and red

alert warnings issued in the Luzon grid since March this year. The said alert notice, at times, led to rotational power outage for at least an hour. The National Grid Corp. of the Philippines (NGCP) issued a yellow alert notice from 9 a.m. to 4 p.m. in Luzon due to thin power reserves. Available capacity stood at 11,845 megawatts as against a peak demand of 11,214MW. The DOE reported on Wednesday that two power plants are still on forced outage. These are the 60MW Bacman Energy Inc. Unit 1 and the 345MW GNPower Mariveles Coal Plant Ltd. Co. (GMPC) Unit 1. Also, the capacity of several power plants was derated due to technical glitches. These are SEMCalaca Power Corp.’s (SCPC) unit 2, from 300MW to 200MW; Pagbilao Energy Corp.’s (PEC) Unit

3, from 420MW to 370MW; SMC Consolidated Power Corp. (SMCCPC) Limay unit 2, from 150MW to 120MW; Angat Hydropower Cor p.’s (A HC) Unit1- 4, f rom 200MW to 28MW; First Gen Hydro Power Corp.’s Pantabangan plants 1 and 2, from 120MW to zero; SN Aboitiz Power Inc.’s Magat hydro plant units 1-4, from 380MW to 80MW; and SN-Aboitiz Power Inc.’s Ambuklao hydro plant units 1-3, from 105MW to 35MW. Fuentebella added that the yellow and red alerts might persist in the next three months because demand for power is expected to peak next week. “The causes of yellow alert are high demand and unplanned outages. Projection wise, this will end around September. We are inviting more investors in the power sector to enhance competition,” he said.

Remittances. . . Continued from A1

RIDGE OF HIGH PRESSURE AREA AFFECTING EASTERN SECTION OF LUZON as of 4:00 pm - May 15, 2019

For the first quarter of 2019, average remittance growth hit 4.2 percent—stronger than the average remittance growth for the first quarter of last year at only 0.8 percent. The first-quarter remittance growth was buoyed by the increase in remittances from both land-based workers and sea-based workers. In particular, land-based workers sent a total of $5.71 billion in remittances in the first three months of 2019—growing at 2.5 percent from their previous year’s remittances. Sea-based Filipino workers, meanwhile, hit a total remittances of $1.58 billion in the first quarter of 2019, up 10.8 percent from the previous year. By country source, the US registered the highest share of overall remittances for the period at 35.1 percent. It was followed by Saudi Arabia, Singapore, United Arab Emirates, the UK, Japan, Canada, Qatar, Hong Kong and Kuwait. The combined remittances from these countries accounted for almost 78 percent of total cash remittances from January to March 2019. The steady flow of remittances into the country has long been a boon for the country’s economic story—particularly fueling the private consumption part of the country’s gross domestic product growth. ING Bank Manila economist Nicholas Mapa also recently said that a stable and substantial source of dollars—such as these remittances and business-process outsourcing receipts—are also beneficial to the country in a way that it shields the Philippines from some of the more diverse effects of the ongoing trade war.

TO AFFECT SENATE TAILENDERS–NAMFREL By Jovee Marie N. dela Cruz @joveemarie

T

HE National Citizens’ Movement for Free Elections (Namfrel) on Wednesday said the untransmitted election returns may affect the 10th to 14th placer in the senatorial race. In a statement, Namfrel said the results in the partial and unofficial senatorial count in the Comelec Transparency Server cover 97.75 percent or 83,842 of the local Election Returns (ER) from all over the country as of 10:16 a.m. of May 15. “This leaves 2.25 percent of 85,769 local ERs not yet included in the count. The delay in the transmission of ERs could be due to VCM [vote-counting machine] malfunction, SD card issues, transmission issues or other factors,” it added. The poll watchdog said the 2.25 percent of 85,769 is equivalent to 1,930 untransmitted local ERs. The numbers from the 2.25 percent untransmitted ERs are critical in the senatorial contest, where the figures among those in Nos. 10 to 14 positions are very close. “Assuming a 75-percent turnout of voters in the May 13 elections, this means 1,043,721 votes which should still be coming in. This number is large enough to reorder the positions in the senatorial race, and most important, define without doubt the No. 12 or the last slot placer. The margin of votes between the current 10th to the 14th placer now stands at 398,000, well within the 1,043,721 unaccounted votes,” the Namfrel said. Senatorial candidates who are in the 10th to 14th spots are Bong Revilla, Koko Pimentel, Nancy Binay, JV Ejercito and Bam Aquino.

Namfrel explained how it derived its estimates. “The 1,043,721 still-expected votes is derived through the following: divide the total number of voters nationwide 61,843,750 by total number of clustered precincts 85,769 equals 721 average number of voters/ clustered precinct. Assume a 75-percent turnout rate in the election, one gets an average 541 votes per ER. If there are still 1,930 untransmitted ERs with 541 votes per ER, you get a total unreported 1,043,721 votes.” According to the group, untransmitted ERs are a perennial problem in the Automated Election System (AES). This, even if the May 13 midterm polls was the fourth nationally automated exercise for the Philippines. In the past elections, Namfrel said the failed transmission rates were 9.5 percent of 76,528 election returns in 2010, 24 percent of 78,193 election returns in 2013 and 3.5 percent of 92,506 election returns in 2016.

‘Suspend proclamation’

MEANWHILE, for his part, Fr. Edwin Gariguez, executive secretary of the Catholic Bishops’ of the Philippines, urged the Comelec to suspend the proclamation of winning senatorial candidates until the issue of fraud is resolved. Gariguez said an independent investigation should be conducted first on the alleged fraud and manipulation during the 2019 midterm elections before proclaiming the winners. “We demand an independent and impartial investigation of the alleged fraud and manipulation of automated canvassing by Comelec and Smartmatic! [provider of the VCM]. There should be no proclamation until the fraud-tainted results are validated,” he said.

Ex-Negros lawmaker Herminio Teves dies at 99

F

ORMER lawmaker Herminio “Meniong” Guivelondo Teves died on Wednesday at the age of 99. Born on April 25, 1920, in Valencia, Negros Oriental, Teves is the third son of Margarito Pinili Teves and Francesca Guivelondo. With a degree in maritime transportation major in nautical studies, Teves graduated from the Philippine Nautical School in 1941. In 1969, Teves, at the age of 49, won as a congressman of the first district of Negros Oriental, but his stint was cut short after President Ferdinand Marcos declared Martial Law in 1972. In 1987, a year after the Edsa People Power, President Corazon Aquino appointed Teves officer

in charge-governor of Negros Oriental. In 1998, Teves won as congressman and served in the 11th to 13th Congresses or for three terms until 2007. Before entering politics, Teves became an executive in various enterprises—Unitrade Inc., Tolong Sugar Milling Co. Inc., and the Tayasan Agricultural Farm and San Antonio Cattle, all in Negros Oriental. The Office of Speaker Gloria Macapagal-Arroyo said the former president is set to visit Teves’s wake on Thursday in Dumaguete City, Negros Oriental. Herminio’s eldest son Margarito “Gary” Teves served as finance secretary under then-President Arroyo.

www.businessmirror.com.ph

BusinessMirror

Thursday, May 16, 2019 A9

A10 Thursday, May 16, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Thursday, May 16, 2019 A11

A12 Thursday, May 16, 2019

BusinessMirror

www.businessmirror.com.ph

In the ad material of Notice of filing of Application for Alien Employment Permits published on May 15, 2019, the applicant of OAMPI, INC. should have been read as Ms. Westrich Geb. Winkel, Cornelia and not as published. In the application published on May 10, 2019, the applicant of NEW ORIENTAL CLUB88 CORPORATION should have been read as Ms. Zhang, Qiaohui and not as published. While in the application published on May 7, 2019 the Company name and Address of Mr. Xie, Jinsong should have been read as NEW ORIENTAL CLUB88 CORPORATION located at Sky Garage Bldg., Aseana Ave., Entertainment City, Tambo, Parañaque, Metro Manila and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011. ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, May 16, 2019

B1

Megaworld income rises 18% to ₧4.1B in Q1 By VG Cabuag

P

@villygc

ROPERTY developer Megaworld Corp. on Wednesday said its income rose 18 percent during the first three months of the year to P4.1 billion from P3.5 billion last year, on strong residential sales, leasing from offices and malls, as well as hotel operations.

Excluding a nonrecurring gain of about P189 million booked by its unit Global Estate Resorts Inc., its income grew at a lower rate at 13 percent for the period ending March. Consolidated revenues were up 15 percent to P14.9 billion for the period from P13 billion last year. Around 64 percent of total revenues came from the company’s residential business while 26 percent came from rentals and 4 percent from hotel operations. The rest came from the company’s

noncore revenues, it said. “It is always encouraging to see all of our core businesses exhibiting positive growth during the first quarter as this sets our pace for the rest of the year. We will be working toward maintaining the growth momentum until year-end. We are confident that stronger numbers will be achievable given our pipeline of projects this year,” said Kevin Andrew L. Tan, the company’s vice president for commercial division. Residential sales grew 11 per-

cent to P9.5 billion during the first quarter from P8.5 billion last year. From January to March, the company generated around P48 billion in reservation sales and has injected about P24 billion worth of new inventory into the market. Megaworld’s rental businesses increased 16 percent to P3.9 billion from P3.4 billion last year. The company is scheduled to complete more than 230,000 square meters (sq.m.) of leasable spaces from its office spaces and malls in various mixed-use developments

in the country. The company’s hotel business became the fastest-growing segment during the quarter, soaring more than half to P574 million from last year’s P368 million. “We have launched two new hotels last year—the Savoy Hotel Manila in Newport City, and the Twin Lakes Hotel near Tagaytay. This year, we expect to add over 1,000 rooms as we open Belmont Hotel Boracay, Hotel Lucky Chinatown and Savoy Hotel Mactan Newtown,” Tan said.

ERC gives green light to SNAP, Nlex builds 20 more lanes in SCTEx NGCP ancillary power deals By Lorenz S. Marasigan @lorenzmarasigan

By Lenie Lectura

@llectura

T

HE Energy Regulatory Commission (ERC) has approved the joint application filed by the SN Aboitiz Power (SNAP) group and the National Grid Corp. of the Philippines (NGCP) for approval of their ancillary services procurement agreements (ASPAs). SNAP group’s Magat, Ambuklao and Binga hydroelectric power plants were granted provisional authority for three new ASPAs. The agreements entered into were for the provision of reactive power support ancillary services (RPS-AS) for the Luzon grid, all with a validity of five years. In the orders dated May 7, 2019, for Ambuklao and Binga hydros, and May 10, 2019, for the Magat hydro, the ERC said the approval of the joint application would help “improve the

availability of ancillary services in the Luzon grid and significantly lower the cost of these services to the benefit of the customers.” Ancillary services are those capacity and energy needed to maintain stable and reliable operations of the interconnected transmission system. RPS-AS refers to the generating units’ capability to inject or absorb reactive power from the grid to maintain the voltage within the standard levels set by the Philippine Grid Code, and support the reliable transmission of electrical power from generating power plants to the consumers. “We welcome the development. Part of SNAP’s mission is to provide energy solutions including the services necessary to maintain power quality, reliability and security of the grid,” SNAP Group President and CEO Joseph S. Yu said. SNAP’s hydro plants also provide

other types of ancillary services covered by three existing ASPAs provisionally approved in 2016 and 2017. The NGCP is a privately owned company that operates and develops the country’s power grid. It transmits high-voltage electricity through so-called power superhighways that include the interconnected system of transmission lines, towers, substations and related assets. SNAP Group is a joint venture between SN Power of Norway and AboitizPower. It supplies clean, renewable and dependable energy through the operation of the 105-megawatt Ambuklao hydro, and the 140-MW Binga hydro in the province of Benguet. SNAP also operates the 8.5-MW Maris hydro in Isabela, as well as the newly uprated 360-MW to 388-MW Magat hydro on the border of Isabela and Ifugao.

FLI income up 24% to ₧1.84B in Q1

F

ILINVEST Land Inc. (FLI), the publicly listed property arm of Gotianun family, said it had a 24-percent increase in net income to P1.84 billion from January to March from last year’s P1.49 billion. Revenues rose 15 percent to P7.14 billion from last year’s P6.22 billion, driven by a 42-percent increase in rental revenue, which reached P1.72 billion, and a 10-percent increase in real-estate sales revenue, which amounted to P5.11 billion. “We are pleased with the firstquarter results as we continue to experience growth in our recurring income business. Last year, we completed the construction of six office buildings, with a gross leasable area of 118,000 square meters which has contributed to our improved financial results.

We have also achieved growth in real-estate sales revenues as we continue to focus on the affordable and middle-income markets with our Futura and Aspire home brands, respectively,” FLI President and CEO Josephine Gotianun Yap said. FLI has completed another office building, Axis Two, in Northgate Cyberzone, adding 39,000 square meters of GLA to its office portfolio and bringing its total office GLA to 510,000 sq.m. The company’s office developments are mainly dispersed in its three main hubs in Northgate Cyberzone in Filinvest City in Alabang; Filinvest Mimosa+Leisure City in Clarkfield in Pampanga; and in Cebu City. FLI’s other offices in Metro Manila are found along major MRT corridors.

The company targets to reach 1.6 million sq.m. of GLA in office and retail rental properties by 2023, it said. The company said it has plans to expand to logistics and industrial parks as part of its recurring income portfolio to address the growing needs of logistics, light manufacturing, technology and e-commerce companies looking to support inventory management. FLI recently broke ground for its 288-hectare development in New Clark City, a joint-venture project with the Bases Conversion and Development Authority. This year, FLI expects to commence construction of the first phase of Filinvest at New Clark City, a 64-hectare innovation and logistics park, envisioned to serve as the economic base of the New Clark City development. VG Cabuag

T

HOROUGHFARE operator Nlex Corp. is building 20 additional lanes in the toll plazas of the Subic-Clark-Tarlac Expressway (SCTEx) to improve customer processing time. The expansion project will start in July and will be completed in November, covering Clark North, Clark South, San Miguel, Bamban and Tarlac toll plazas. Specifically, a new toll lane each will be built in Clark North entry/exit and Clark South B exit.

Two new toll lanes each will be added at Clark South A exit and Tarlac entry/exit to serve the growing number of motorists traveling in these areas. The toll plaza in San Miguel will be converted into a full interchange to provide wider access to motorists coming from both northbound and southbound directions. Likewise, two lanes each will be constructed at San Miguel northbound entry and southbound exit and another toll lane will be added to the northbound exit.

The soon-to-open Bamban Interchange will have three entry and three exit lanes. The new interchange will become the direct connection to New Clark City. “The additional toll lanes will help improve SCTEx’s connectivity in its areas, particularly in Clark, which is being positioned as Asia’s next aerotropolis and investment center,” said Luigi L. Bautista, the company’s president. He said these new lanes will help “enable speedy toll transactions even during peak hours and holidays when traffic volume on the expressway rises sharply.”

B2

Companies BusinessMirror

Thursday, May 16, 2019

PSE STOCK QUOTATIONS

May 15, 2019

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

131.4 80.9 26.5 10.96 70.7 12.9 21.35 52.55 57.1 26.15 166 59.3 1.19 2.15 18.8 4.5 7.87 1.36 0.455 0.88 181

131.5 81 26.55 10.98 70.95 13 21.9 52.95 57.25 26.5 166.9 61.35 1.27 2.25 18.9 4.65 8.89 1.39 0.46 0.91 182.9

130.3 82 26.7 10.84 72.1 12.9 21.35 52.7 57.05 26.1 168.2 59.3 1.22 2.14 18.88 4.66 7.88 1.36 0.46 0.89 180.6

132.5 82.25 26.75 11 74.95 13 21.35 53.9 57.45 26.2 169 59.4 1.25 2.16 18.9 4.66 7.88 1.36 0.46 0.91 182.9

130.3 80.9 26.4 10.84 70.7 12.9 21.35 52 57 26.1 165.5 59 1.2 2.14 18.82 4.5 7.87 1.36 0.455 0.89 180.5

131.5 80.9 26.5 10.98 70.7 13 21.35 52.55 57.25 26.2 166 59.3 1.2 2.15 18.9 4.65 7.87 1.36 0.46 0.89 182.9

1871430 1879620 35900 679700 2451250 237900 9000 171580 4530 2711200 445110 6050 481000 59000 71400 31000 1000 4000 430000 57000 270

245971467 153171776.5 954135 7474420 178285868 3078970 192150 9015970.5 259238 71031625 74281714 358534.5 582500 126340 1348226 140110 7876 5440 197300 50750 48793

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

1.37 34.65 0.25 21 76.7 359 21.6 5.94 4.4 2.14 11.78 42 6.71 15.02 89.4 14.62 13.78 5.5 10.36 7.51 108.7 0.76 37.35 292.6 25.6 10.2 14 0.189 1.22 12.84 1.65 4.9 2.02 156.8 1.26 2.51 66 2.8 5.3 15.84 8.94 14.2 22 0.88 1.08 110.9 1.84 3.95 3.27 4.83 45 2.29 10.22 1.71 5.71 1.23 25.65

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

0.63 14.66 880 46.7 13.6 6.5 0.74 1.25 1.29 7.18 9.86 13.18 4.15 0.25 797 58.4 5.71 0.475 4.34 16.84 0.55 4.2 0.039 3 1.16 1.35 890 187.6 0.82 268.4 0.234 0.325

1.39 34.9 0.255 21.2 76.8 361 21.8 5.95 4.52 2.15 12 42.25 6.8 15.3 96.5 16 13.8 5.65 10.4 7.52 109.3 0.77 37.45 293 49.95 10.7 14.02 0.203 1.23 12.9 1.71 4.99 2.28 160 1.27 2.55 69 2.82 5.8 15.9 9 14.36 22.05 0.89 1.09 118.2 1.89 4.26 3.4 4.85 45.5 2.3 10.4 1.72 5.8 1.24 25.95

1.39 35.4 0.242 21 77 372 21.85 6 4.46 2.11 12 42.2 6.94 15.2 89.4 15.86 14.5 5.65 10.4 7.5 108.1 0.75 36.55 302.6 49.45 11.84 13.46 0.188 1.15 12.78 1.62 4.9 2.02 160 1.24 2.51 66.1 2.75 5.3 15.96 8.9 14.96 21.9 0.9 1.02 118.2 1.85 3.92 3.49 4.85 45 2.4 10.5 1.82 5.8 1.23 26.8

1.39 35.4 0.26 21.3 77.1 372 22 6 4.63 2.22 12 43.2 6.94 15.5 96.75 15.9 14.52 5.65 10.4 7.59 110 0.78 38 305.6 49.5 11.84 14.26 0.188 1.24 12.98 1.75 4.99 2.02 160.9 1.27 2.51 66.1 2.84 5.3 15.98 9 15.16 22.4 0.9 1.11 118.2 1.89 4.28 3.49 4.85 45 2.42 10.5 1.82 5.8 1.23 26.95

1.36 34.6 0.241 20.85 76.8 359 21.1 5.95 4.36 2.1 11.78 42 6.75 15.04 89.4 15.86 13.78 5.63 10.3 7.5 108.1 0.74 36.1 293 49.45 10.1 13.46 0.188 1.13 12.78 1.62 4.9 2.02 156.8 1.23 2.51 65.8 2.74 5.3 15.84 8.85 14.2 21.75 0.87 1.01 118.2 1.85 3.92 3.4 4.83 45 2.29 10.1 1.71 5.8 1.23 25.55

1.37 34.65 0.255 21.2 76.8 359 21.6 5.95 4.52 2.14 12 42 6.8 15.3 96.75 15.9 13.78 5.65 10.4 7.52 109.3 0.77 37.45 293 49.5 10.7 14.02 0.188 1.23 12.84 1.71 4.99 2.02 156.8 1.26 2.51 65.8 2.8 5.3 15.84 8.94 14.36 22 0.89 1.08 118.2 1.89 4.28 3.4 4.83 45 2.29 10.4 1.71 5.8 1.23 25.95

801000 2103800 10880000 2398700 71650 376900 2508000 2484800 59000 51405000 14000 146300 55400 594000 70 2500 559800 29400 2504700 1243100 912830 1319000 504200 1913390 600 237300 988700 40000 7049000 141900 57000 6858000 12000 945320 2325000 21000 130 19485000 2100 533100 241500 10413600 2315900 658000 3133000 10 207000 7000 11000 104000 275000 11544000 514000 118000 17500 58000 252600

1101400 73163440 2740500 50535535 5513523 136648338 53372765 14826742 268080 111075570 167934 6196410 377294 9098584 6331.5 39704 7938216 165988 25977320 9348777 99425842 997720 18495500 567816324 29685 2542790 13897382 7520 8,421,130( 1817992 94330 33617960 24240 150280213 2921640 52710 8565 54634180 11130 8494990 2159704 154049398 51125925 585970 3380180 1182 383170 27800 37760 504120 12375000 27064480 5308218 208490 101500 71340 6603145

4039079 -13953039 19578 -21860332 -3011830 5987667 -145070.5 -69327815 -45454985 -33208 741686 -880210 -31897035 -3208945 -4807715 -80031588 15937454.9999 2904241 7116060 18000 -4364930 -833306 -5216690 -6772 -263298 -5212787 57558820 6870 1756490 -131981310 -4673292 2,913,390.0004) -153360 25492580 -53038729 -611980 23599430 -3779386 -6203 40892144 4197960 99000 10560 -504120 -0 -1586840 271230 -

HOLDING & FRIMS 0.64 14.88 886 47 13.86 6.65 0.75 1.27 1.3 7.19 9.95 13.44 4.49 0.27 799.5 58.9 5.85 0.51 4.45 16.9 0.57 4.23 0.04 3.04 1.17 1.36 900 187.7 0.83 275 0.238 0.335

0.64 14.3 887 46.85 13.92 6.5 0.73 1.29 1.33 7.29 10.2 13 4.49 0.255 816.5 60 5.85 0.51 4.36 16.88 0.55 4.2 0.039 3.04 1.14 1.33 905 185 0.81 275 0.232 0.325

0.64 16 895 48 14 6.5 0.75 1.33 1.33 7.29 10.48 13.68 4.49 0.27 822 60.45 5.85 0.51 4.56 17.2 0.55 4.25 0.042 3.05 1.16 1.36 917 188.4 0.86 275 0.238 0.335

0.63 14.3 880 46.7 13.6 6.5 0.73 1.25 1.3 7.15 9.78 13 4.49 0.25 797 58.4 5.85 0.48 4.29 16.7 0.55 4.2 0.039 3 1.14 1.33 890 182.5 0.81 275 0.232 0.325

0.64 14.88 880 46.7 13.6 6.5 0.75 1.25 1.3 7.19 9.86 13.46 4.49 0.27 797 58.4 5.85 0.51 4.34 16.84 0.55 4.2 0.04 3.04 1.16 1.35 890 187.7 0.84 275 0.234 0.335

6818000 40300 464510 2754700 5080600 40300 250000 5562000 587000 649800 12943700 37100 1000 580000 113560 1733450 3000 253000 1771000 1525300 200000 10549000 58600000 326000 514000 102000 375270 919750 441000 150 690000 2030000

4321680 602884 19084 411356130 -144680360 129,297,040( 75,167,230.0004) 70000622 -22385832 261950 184320 7131850 763130 4684629 -1456278 128796780 -104407453 499118 -11020 4490 150000 91401665 -77364600 102564379.5 -57948621.5 17550 122560 7726940 -2800680 25750714 9496770 110000 110000 44436660 -12058310 2381100 -82000 986330 -97600 590150 135930 13300 338107915 -201029965 172189817 22373887 364570 41250 161810 660100 -3300

PROPERTY

ARTHALAND CORP 0.78 0.79 0.74 0.84 0.74 0.78 6230000 4949570 240000 AYALA LAND 47 47.7 47.95 47.95 47 47 10143000 481487715 -35264990 ARANETA PROP 2.15 2.2 2.22 2.22 2.14 2.2 188000 403790 -172000 BELLE CORP 2.33 2.34 2.39 2.39 2.34 2.34 252000 593520 -50540 A BROWN 0.72 0.73 0.72 0.73 0.7 0.72 339000 244080 CITYLAND DEVT 0.89 0.91 0.91 0.92 0.88 0.91 336000 306170 9200 CROWN EQUITIES 0.228 0.232 0.231 0.232 0.229 0.232 23690000 5449520 CEBU HLDG 6.2 6.4 6.45 6.45 6.38 6.4 800 5126 CEB LANDMASTERS 4.9 4.91 4.69 4.94 4.69 4.9 3810000 18452870 107590 CENTURY PROP 0.51 0.52 0.51 0.53 0.51 0.52 8279000 4277580 -74880 DOUBLEDRAGON 23.8 23.85 24.2 24.8 23.65 23.85 744000 17828890 -4254425 DM WENCESLAO 9.89 9.98 10.12 10.2 9.7 9.89 1412000 14038569 933323 EMPIRE EAST 0.47 0.48 0.47 0.48 0.47 0.47 260000 123000 4800 EVER GOTESCO 0.125 0.131 0.125 0.125 0.125 0.125 1860000 232500 FILINVEST LAND 1.58 1.59 1.58 1.6 1.56 1.58 7480000 11834340 -6758690 GLOBAL ESTATE 1.33 1.34 1.34 1.35 1.33 1.33 824000 1100410 8990 HLDG 14.24 14.26 14.4 14.5 14.2 14.26 767000 10946036 -778884 PHIL INFRADEV 1.73 1.74 1.78 1.79 1.7 1.74 2274000 3937900 3480 CITY AND LAND 0.8 0.83 0.8 0.83 0.8 0.83 4000 3230 MEGAWORLD 5.37 5.4 5.45 5.45 5.31 5.37 23800500 128069857 -63375663 MRC ALLIED 0.335 0.34 0.34 0.34 0.33 0.34 4890000 1634750 -10050 PHIL ESTATES 0.465 0.48 0.48 0.49 0.465 0.48 1930000 906050 PRIMEX CORP 2.4 2.45 2.49 2.54 2.39 2.4 1173000 2851360 ROBINSONS LAND 23.8 23.9 24.4 24.45 23.8 23.8 937600 22463410 -4600770 PHIL REALTY 0.435 0.445 0.43 0.455 0.42 0.43 1520000 651150 -321250 ROCKWELL 2.01 2.03 1.96 2.03 1.96 2.03 907000 1824620 STA LUCIA LAND 1.86 1.87 1.9 1.9 1.83 1.87 772000 1440900 1850 SM PRIME HLDG 37.5 37.65 38.55 38.85 37.5 37.5 7148600 271466500 -77712975 STARMALLS 6.65 6.83 6.65 6.86 6.65 6.83 66200 446252 VISTA LAND 7.11 7.12 7.14 7.23 7.11 7.12 1976300 14082385 -3182398 SERVICES ABS CBN 18.94 18.96 18.94 19 18.94 18.96 97600 1850934 GMA NETWORK 5.26 5.27 5.17 5.31 5.16 5.26 359100 1882076 MANILA BULLETIN 0.53 0.54 0.52 0.55 0.52 0.53 426000 225760 GLOBE TELECOM 1980 1985 1995 2018 1981 1985 61555 123232135 19044935 PLDT 1221 1230 1225 1244 1213 1221 121270 148425020 36845990 APOLLO GLOBAL 0.042 0.044 0.044 0.045 0.043 0.044 12000000 527200 IMPERIAL 1.78 1.89 1.78 1.78 1.78 1.78 22000 39160 ISLAND INFO 0.122 0.125 0.125 0.125 0.121 0.125 820000 99500 ISM COMM 6.04 6.05 6.01 6.12 5.95 6.05 5041800 30530629 220886 JACKSTONES 2.95 3.06 2.97 2.97 2.95 2.95 50000 147590 NOW CORP 2.16 2.18 2 2.2 2 2.16 5602000 11678870 -364480 TRANSPACIFIC BR 0.325 0.33 0.32 0.33 0.31 0.33 3660000 1184800 PHILWEB 2.95 2.97 2.87 2.98 2.85 2.97 1013000 2965020 -121940 2GO GROUP 11.84 12 12 12 12 12 10500 126000 ASIAN TERMINALS 16.92 16.98 16.76 16.92 16.76 16.92 19600 329410 235314 CHELSEA 6.13 6.14 6.03 6.15 6.03 6.13 1476700 9019410 -19301 CEBU AIR 82 82.05 83 83 82 82 51550 4229605 -2535904 INTL CONTAINER 141.2 141.5 136.9 144.5 136.7 141.5 2955180 417566369 132099545 LBC EXPRESS 15.48 15.5 15.48 15.48 15.48 15.48 8300 128484 LORENZO SHIPPNG 0.75 0.78 0.75 0.79 0.75 0.79 104000 78100 MACROASIA 19.16 19.2 19.28 19.78 19.16 19.2 2965200 57352186 15425706 METROALLIANCE A 1.68 1.78 1.74 1.74 1.74 1.74 4000 6960 PAL HLDG 9.82 9.92 10 10.4 9.8 9.92 22500 226984 HARBOR STAR 2.37 2.38 2.44 2.5 2.37 2.38 2058000 4967390 36900 ACESITE HOTEL 1.26 1.36 1.26 1.26 1.26 1.26 22000 27720 BOULEVARD HLDG 0.066 0.067 0.066 0.066 0.065 0.066 5690000 371230 WATERFRONT 0.7 0.71 0.66 0.7 0.66 0.7 2624000 1805320 198000 CENTRO ESCOLAR 7.05 7.43 7.04 7.43 7.04 7.43 2100 15564 IPEOPLE 10.58 10.98 10.98 10.98 10.98 10.98 100 1098 STI HLDG 0.67 0.68 0.66 0.7 0.65 0.67 3770000 2562840 269320 BERJAYA 2.41 2.5 2.6 2.6 2.41 2.41 972000 2380440 36600 BLOOMBERRY 10.92 10.98 10.44 10.98 10.44 10.98 16105400 173224000 -38650654 PACIFIC ONLINE 3.11 3.23 3.16 3.17 3.15 3.15 101000 318510 -25240 LEISURE AND RES 3.95 3.98 3.86 3.99 3.85 3.98 2409000 9533340 -489730 MANILA JOCKEY 3.72 3.89 3.89 3.93 3.7 3.93 36000 134760 PH RESORTS GRP 4.16 4.35 4.18 4.18 4.13 4.15 28000 116680 PREMIUM LEISURE 0.65 0.66 0.67 0.7 0.65 0.66 6912000 4677820 -1289050 TRAVELLERS 5.62 5.63 5.61 5.63 5.61 5.63 479900 2699287 METRO RETAIL 2.73 2.74 2.62 2.75 2.62 2.73 3890000 10494420 969530 PUREGOLD 44.85 44.9 44.05 45.3 44.05 44.9 1823900 81814790 64293860 ROBINSONS RTL 69 69.5 69 70 68.55 69 1300980 89884193.5 -17066492.5 PHIL SEVEN CORP 121.8 123 117 123 117 123 5330 638115 184468 SSI GROUP 3.36 3.39 3.12 3.43 3.07 3.36 28458000 94240200 3141990 WILCON DEPOT 16.52 16.6 16.48 16.78 16.48 16.52 3130800 52159714 24938640 APC GROUP 0.41 0.42 0.41 0.42 0.41 0.42 1200000 503000 EASYCALL 10.48 10.68 10.48 10.68 10.48 10.48 88800 934218 GOLDEN BRIA 405 414 416.6 416.6 397 410 2690 1097578 IPM HLDG 6.3 6.4 6.6 6.6 6.4 6.4 5100 33020 PRMIERE HORIZON 0.93 0.94 1 1.02 0.91 0.94 137436000 132789010 -83150 SBS PHIL CORP 9.1 9.25 9.25 9.25 9.2 9.24 42800 395460 MINING & OIL ATOK 11.06 11.98 11.98 12 11.98 12 2200 26358 APEX MINING 1.24 1.25 1.28 1.29 1.24 1.25 983000 1240530 -21250 ABRA MINING 0.0018 0.0019 0.0019 0.0019 0.0018 0.0018 26000000 47800 1800 BENGUET A 1.26 1.37 1.3 1.39 1.26 1.26 10000 13070 COAL ASIA HLDG 0.285 0.29 0.285 0.29 0.285 0.29 510000 145650 CENTURY PEAK 2.74 2.78 2.81 2.81 2.73 2.74 1058000 2902780 54800 DIZON MINES 7.94 7.95 7.85 8.08 7.77 7.95 17900 141924 FERRONICKEL 1.56 1.57 1.6 1.61 1.56 1.57 12069000 19366190 -96000 GEOGRACE 0.229 0.234 0.239 0.239 0.23 0.235 1090000 251790 LEPANTO A 0.107 0.113 0.105 0.114 0.105 0.11 3040000 329830 LEPANTO B 0.106 0.12 0.112 0.112 0.112 0.112 1000000 112000 MANILA MINING A 0.008 0.0085 0.008 0.008 0.008 0.008 5000000 40000 MARCVENTURES 1.01 1.03 1.01 1.02 1.01 1.01 56000 56620 NIHAO 0.97 1 1.02 1.02 0.97 1 7000 7000 NICKEL ASIA 2.24 2.28 2.24 2.3 2.24 2.24 1277000 2886170 44509.9996 OMICO CORP 0.55 0.59 0.55 0.59 0.55 0.59 56000 30880 ORNTL PENINSULA 0.88 0.89 0.88 0.88 0.87 0.88 298000 261730 PX MINING 3 3.03 3.04 3.04 3 3.02 688000 2068240 -291290 SEMIRARA MINING 21.95 22 22.5 22.5 21.8 22 4320000 95283490 30178325 UNITED PARAGON 0.0063 0.0066 0.006 0.0061 0.006 0.0061 4000000 24100 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 18100000 206600 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 300000 3300 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 3100000 34100 PHINMA PETRO 3.56 3.69 3.57 3.69 3.56 3.69 94000 338640 PXP ENERGY 8.61 8.62 8.33 8.75 8.33 8.61 2315700 19890460 1423742 PREFFERED HOUSE PREF A 95 97.5 93 93 93 93 250 23250 AC PREF B1 474 474.8 474.8 474.8 474 474.8 610 289484 AC PREF B2 485 500 490 500 485 500 1010 490050 DD PREF 96.3 97.95 98 98 97 97 1020 98960 SMC FB PREF 2 972 975 975 975 975 975 170 165750 FGEN PREF G 102 104.1 104.1 104.1 104.1 104.1 400 41640 GLO PREF P 485 493 493 493 493 493 50 24650 4930 LR PREF 0.97 0.98 1 1 0.97 0.98 413000 405640 MWIDE PREF 100.1 102 100.1 100.1 100.1 100.1 10 1001 PNX PREF 3A 100 100.4 100.4 100.4 100.4 100.4 1000 100400 PNX PREF 3B 105 105.9 105.9 105.9 105.5 105.9 550 58229 PCOR PREF 2A 965 998 970 970 910 910 850 808100 SMC PREF 2B 74.85 75 75 75 75 75 340 25500 SMC PREF 2C 76 76.1 76.1 76.1 76 76.1 21170 1610933 SMC PREF 2D 71.3 72 71.85 71.85 71.85 71.85 36140 2596659 SMC PREF 2F 73.8 74 73.75 74 73.75 74 7400 546522.5 SMC PREF 2G 73.75 74.4 73.75 73.8 73.75 73.8 1860 137225 SMC PREF 2H 72.7 73.85 72.65 72.65 72.65 72.65 4130 300044.5 SMC PREF 2I 73.1 73.5 73.5 73.5 73.5 73.5 880 64680 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.62 5.05

18.9 5.3

19.1 5.26

19.1 5.3

18.62 5

18.62 5.3

3700 136300

69502 718375

WARRANTS LR WARRANT

1.9

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.98 XURPAS 1.03

1.93

1.93

1.97

1.9

1.95

147000

284880

-

4.99 1.04

5.07 0.93

5.15 1.06

4.94 0.93

4.98 1.03

598900 16877000

3016383 16973350

24290 -476450

EXHANGE TRADE FUNDS FIRST METRO ETF

114.6

-105800

115.7

114.5

115.8

114

114.6

16050

1842046

-219734

www.businessmirror.com.ph

Vista Land income grows 12% to ₧2.9B in Jan-March

P

ROPERTY developer Vista Land and Lifescapes Inc., said its income for the first quarter of the year grew 12 percent to P2.9 billion from P2.6 billion last year, driven by the growth of its core residential business and the contribution from its leasing business. Consolidated revenues for the period ending March reached P11.4 billion, 14 percent higher than the P10.1 billion last year. Leasing revenue coming from its

shopping malls and offices rose 18 percent to P1.9 billion from P1.6 billion last year. “We are pleased to have been able to achieve solid growth over

GMA Network eyes 10% hike in revenues by end-December By Lorenz S. Marasigan @lorenzmarasigan

T

HANKS to this year’s midterm elections, broadcasting giant GMA Network Inc. expects to grow its revenues by more than a tenth by year-end. Felipe L. Gozon, the company’s chairman, said his group aims to increase its top line by 12 percent this year, as ad revenues from the elections this quarter were “substantial.” “While the network experienced slight declines in revenues in 2018, I am confident this year will bring better financial results because of election-related revenues, as well as those from our recurring advertising sales. We target to increase our 2019 revenues by 12 percent,” he said. Gozon noted ad revenues from a “presidential election” are higher compared to a senatorial race. The whole TV industry has suffered crippling revenues due to declining ads in recent years, save for election periods. For GMA, its consolidated revenues inched down by 2 percent to P15.24 billion in 2018 versus 2017, leading to a 9-percent decline in profits to P2.32 billion during the same comparative periods. But for the first quarter of 2019, its net income surged by 69 percent to P721.76 million, as its revenues

grew by 14 percent to P3.8 billion. O p er at ion a l e x p e n ses i n creased by only 4 percent. I n a not he r d e v e lo p me nt , Gozon said his group is celebrating a “milestone” in its digital journey with the official transmission of its digital TV using UF Channel 15. The network is currently in the final stretch of preparations for the launch of MyGMA Go, its mobile Digital Terrestrial Television (DTT) service that will “revolutionize content-consumption habits by combining digital TV viewing and the elements of mobile interactivity.” These so-called dongles will be offered through a partnership with PLDT Inc. A total of 4 million devices will be covered by the contract. The device, which will initially be available for android smartphones, will have a complimentary app so that users can watch “GMA’s exclusive channels that will include an Asian telenovela channel, Korean music and variety channel, and a concert channel, and other free-to-air channels without a need for an active Internet connection.” Gozon said this new device will have “features” that will enhance the viewing experience of consumers. It will be launched within “the second half of the year,” he said.

SBITC procures more cargo-handling machinery

S

U BIC Bay Inter n at ion a l Terminal Corp. (SBITC) is further boosting its capacity with the procurement of two new empty handlers from Finnish cargo-handling solutions provider Kalmar. In a statement, the company said the new empty handlers— which are forklifts designed to stack containers—will be utilized for its empty container depot. Each handler has a lifting capacity of 9 metric tons and can stack empty containers up to 6 feet high. It helps to fully maximize space to load and unload containers. “Our new containers are part of this year’s port-improvement

plan and will be used in our empty container depot. In fact, our terminal has increased its mobile stacker fleet by 100 percent compared to January this year,” the company statement read. The new handlers will be fully operational this June. Likewise, “there will be another equipment arriving within the year to fulfill its port augmentation this year,” the company said. “We’re looking forward to the arrival of more cranes later this year to complete our 2019 port-improvement plan. We will continue to invest in improving our facilities as a world-class free port for the benefit of our locators and port users,” the statement read. Lorenz S. Marasigan

the past years, and it should be the same this year as we take advantage of the synergies between our residential and leasing businesses,” Vista Land Chairman Manuel B. Villar said. “Our outlook for the year is based on the steady growth of our housing business in addition to the increasing contribution of our commercial assets on the back of sound Philippine macroeconomic fundamentals specifically the current rate cut and the continued decline in inflation. We are seeing stable demand in our housing business as we registered 10-percent growth in reservation sales for the quarter,” he said. Manuel Paolo Villar, the com-

MUTUAL FUNDS

pany’s president and CEO, said they are optimistic on the prospects for our company for the year after it sees growth in Vista Land’s core residential business, as well as sustained increase in its leasing business. “Demand for our housing products has been stable as our sales from overseas Filipinos remained solid at over 50 percent of our total sales, and we are also seeing an increase in domestic demand,” he said. Vista Land also launched new projects totaling to about P10.8 billion in the first quarter, while capital expenditures for the year are expected to reach P40 billion. Vista Land has presence in 147 cities and municipalities across 49 provinces as of end March.

May 15, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 256.75 -3.18% 0.11% 0.07% 1.79% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.566 0.77% 8.82% 2.1% 8.69% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.9802 -5.56% -0.01% -0.95% 1.98% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9155 -1.74% N.A. N.A. 2.81% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8506 -1.06% N.A. N.A. 3.64% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.3205 -2.65% -0.03% -0.06% 0.94% MBG EQUITY INVESTMENT FUND, INC. -A 121.5 5.55% N.A. N.A. 4.33% ONE WEALTHY NATION FUND, INC. -A 0.8493 -4.32% -4.62% N.A. 2.03% PAMI EQUITY INDEX FUND, INC. -A 50.5205 -1.42% 0.79% N.A. 2.67% PHILAM STRATEGIC GROWTH FUND, INC. -A 527.76 -1.98% -0.11% -0.05% 2.53% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.2881 0.34% 1.71% 2.55% 2.72% PHILEQUITY FUND, INC. -A 37.7471 0% 2.38% 2.03% 3.04% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0102 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.1172 -0.82% 1.74% 2.19% 3.19% PHILIPPINE STOCK INDEX FUND CORP. -A 854.2 -0.74% 1.44% 2.11% 3.1% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9067 1.36% 0.89% N.A. 5.28% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2197 0.76% 1.86% 1.54% 3.96% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9822 -1.2% 1.41% N.A. 2.92% UNITED FUND, INC. -A 3.6389 0.74% 3.83% 2.16% 3.94% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 114.3691 -0.36% 2.49% 3.19% 3.27% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9876 -10.91% 6.55% 0.6% 6.3% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2543 -3.11% 8.04% N.A. 13.5% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6831 -2.69% -1.38% -2.11% 1.93% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2657 -2.64% 0.21% 0.02% 2.56% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.5921 -1.64% -1.12% -2.01% 1.9% GREPALIFE BALANCED FUND CORPORATION -A 1.3377 -1.51% N.A. N.A. 2.56% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.899 1.4% 0.83% 0.84% 3.03% PAMI HORIZON FUND, INC. -A 3.6267 -1.51% -0.66% -0.14% 2.76% PHILAM FUND, INC. -A 16.3741 -0.31% -0.39% -0.07% 2.93% SOLIDARITAS FUND, INC. -A 2.1125 0.09% 0.91% 1.41% 1.94% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.795 1.65% 0.69% 0.96% 3.93% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9819 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9763 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9734 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9738 2.47% 0.97% N.A. 5.65% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03634 4.16% 0.65% 1.4% 3.09% PAMI ASIA BALANCED FUND, INC. -A $0.9696 -7.94% 3.48% -0.79% 3.57% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6416 -0.86% 5.58% 2.43% 10.07% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0809 0.19% 3.49% N.A. 7.02% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 348.54 3.01% 2.11% 2.17% 1.5% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8934 1.69% 0.03% -0.2% 1.84% COCOLIFE FIXED INCOME FUND, INC. -A 3.0289 5.33% 5.27% 5.26% 1.96% EKKLESIA MUTUAL FUND INC. -A 2.1666 2.59% 1.21% 1.84% 1.69% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2709 2.46% 0.62% 1.01% 2.79% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6039 1.6% -0.83% 0.27% 2.52% PHILAM BOND FUND, INC. -A 4.0659 1.82% -0.32% 0.85% 3.73% PHILEQUITY PESO BOND FUND, INC. -A 3.6171 3.76% 1.1% 1.11% 2.84% SOLDIVO BOND FUND, INC. -A 0.922 1.06% -0.66% N.A. 3.29% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8988 5.72% 1.37% 1.85% 4.8% SUN LIFE PROSPERITY GS FUND, INC. -A 1.608 5.37% 0.84% 1.4% 4.42% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $455.1 3.05% 1.77% 2.72% 1.52% ALFM EURO BOND FUND, INC. -A Є215.93 1.41% 1.39% 1.47% 1.54% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1697 5.12% 1.65% 2.18% 3.9% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0253 2.02% 0.67% N.A. 2.02% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7129 0.72% -1.4% 0.68% 1.34% 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 $1.0666 3.37% -0.66% -2.27% 2.79% PHILAM DOLLAR BOND FUND, INC. -A $2.2714 5.41% 0.48% 2.58% 4.61% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0583096 3.1% 1.2% 1.64% 2.33% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9933 3.43% -0.06% 2.03% 4.22% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.87 3.56% 2.28% 1.84% 1.68% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.011 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2009 3.02% 1.34% 0.84% 1.61% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2379 3.45% 2.55% 1.92% 1.55% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0252 2.11% N.A. N.A. 0.92% * - 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

Companies BusinessMirror

www.businessmirror.com.ph

Holcim income reaches ₧703.86M in 1st 3 months

C

By VG Cabuag @villygc

EMENT firm Holcim Philippines Inc. on Wednesday said its income slightly rose during the three months of the year to P703.86 million, from last year’s P699.89 million, mainly on higher interest expense for funding capital projects, but revenues were still down.

In its disclosure to the Philippine Stock Exchange, the company said its revenues were down 6 percent to P8.1 billion from last year’s P8.6 billion. “I am very pleased to share [that] we have successfully followed up our strong finish in 2018 with an excellent start of the year. This confirms the effectiveness of our plans to deliver profitable growth and sustainable returns,” John Stull, the company’s president and CEO, said in a statement. “Our focus on raising profitability through tighter cost management, improved operational efficiency and commercial innovation continues to

pay off as seen in our business results, and we are determined to build on these further. We will continue to execute with precision to deliver on shareholders’ expectations and become a stronger partner in the country’s progress,” he said. The company also completed the expansion of its La Union plant, which included a tie-in of a new roller press to the finish mill that temporarily affected production volumes for North Luzon. San Miguel Corp. recently confirmed reports that it won the bidding to acquire an 85.7-percent interest in Holcim Philippines for $2.15 billion.

DOTr warns Cebu Pacific for canceling 172 domestic flights in early May

T

HE transportation department has issued a “stern warning” to budget Cebu Pacific for canceling 172 domestic flights in the two weeks leading to May 10, asking the airline to submit a “concrete plan” within 30 days that lists corrective measures to prevent a repeat of this problem that inconvenienced tens of thousands of passengers. Transportation Secretary Arthur P. Tugade said the Civil Aeronautics Board

(CAB) has ordered the Gokongwei-led carrier to “exercise diligence necessary in maintaining stability and reliability of air transport service to the riding public.” At the heart of this tussle were the 172 domestic flights canceled by Cebu Pacific from April 28 to May 10, or about 14 flights per day from its 400 local flights. This also represented 4 percent of the 4,260 flights that Cebu Pacific operates every two weeks.

“We are hoping that Cebu Pacific will immediately comply with the order to resolve this issue. We cannot bring what was lost from the inconvenience caused by the cancellations. But moving forward, we aim to have more substantial actions so that our passengers will not have to suffer,” Tugade said in a mix of vernacular and English. He noted that a concrete plan will “help the whole airline sector to address similar issues that might occur

in the future.” Based on the investigation conducted by the air-services regulator, Cebu Pacific had to cancel 172 flights due to issues pertaining to on-time performance (OTT), a joint function of both the airline and the air traffic controllers. The budget carrier has noted an average of 51.16-percent OTT. In layman’s term, only half of the airline’s flights take off from the airport on time. Lorenz S. Marasigan

Thursday, May 16, 2019

B3

CLI profit reaches P702 million in Q1 By Roderick L. Abad Contributor

A

@rodrik_28

LWAYS on track to meet the completion target of its development projects, Cebu Landmasters Inc. (CLI) cited on Wednesday a net income of P702 million in the first quarter (Q1) of 2019, 41 percent higher than the P499 million it posted in the same period last year. Net profit attributable to the parent increased by 23 percent to P599 million. CLI President and CEO Jose Soberano III attributed the company’s sustained growth momentum to continuous construction activities and prompt delivery of their projects. “It is our commitment to deliver on-time, high-quality products to our customers,” he said. “Our positive financial results are motivated by our vision to be the leading and preferred developer in the Visayas and Mindanao.” During the two periods in review, consolidated revenues rose 48 percent from P1.264 billion to P1.87 billion. The firm’s top-line figures ending March 31, 2019, were mainly bolstered by the Garden series—its mid-market segment brand—representing 36 percent. This was followed by Casa Mira

(economic housing brand) at 31 percent and Premier Series (high-end) at 29 percent. In the first three months of 2018, 41 percent of the revenues were from Casa Mira; the Garden series, 39 percent; and Premier series, 16 percent. The regional developer has constantly made its presence felt in Cebu since all its projects located in the Queen City of the South contributed 58 percent to the total revenues. New expansion areas have began to post significant shares, such as Bacolod accounting for 15 percent; Dumaguete, 12 percent; Cagayan de Oro (CDO), 8 percent; and Davao, 6 percent. Following the turnover of retail spaces in Casa Mira Towers Labangon, leasing revenue of the firm surged 23 percent as total gross leasable area (GLA) hiked to 10,110 square meters from 8,952 sq.m. year-on-year. Soberano said a total of 69,770 sq.m. of GLA is under construction, of which 5,105 sq.m. will be finished within the year. An additional 78,274 sq.m. of GLA will be rolled out to hit their goal of 200,000 sq.m. of GLA in 2023. Meanwhile, consolidated reservation sales from January to March 2019 reached P3.877 billion compared to P3 billion in the same period of 2018.

B4 Thursday, May 16, 2019

BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso

The World BusinessMirror

Thursday, May 16, 2019

B5

China’s economic activity weakens amid tariff war

B

EIJING—China’s factory output and consumer spending weakened in April as a tariff war with Washington intensified, adding to pressure on Beijing to shore up shaky economic growth. Wednesday’s unexpectedly weak data prompted suggestions Beijing will need to boost stimulus spending and bank lending to hit this year’s official economic growth target of 6 percent to 6.5 percent. President Xi Jinping’s administration has expressed confidence the economy can withstand US tariff hikes in their fight over Chinese technology ambitions and other trade irritants. But forecasters say damage might spread beyond export-driven manufacturing industries if consumer and business confidence suffers, depressing spending and investment. Consumer demand is “softening at a time when the export sector is taking a big hit” from US tariff hikes, Rajiv Biswas of IHS Markit said in a report. “Chinese policy-makers will therefore need to roll out further fiscal and monetary policy stimulus,” said Biswas. April’s growth in factory output decelerated to

5.4 percent over a year earlier, from March’s 8.5 percent growth, according to the National Bureau of Statistics. Retail sales growth fell to 7.2 percent over a year ago, from the previous month ’s 8.7 percent. That’s a setback for Chinese leaders who want to promote self-sustaining economic growth based on domestic consumption instead of trade and investment. Chinese economic growth held steady in the latest quarter at 6.4 percent over a year earlier. But that was supported by higher government spending and bank lending to reverse an economic slowdown. President Donald J. Trump’s tariff hikes on Chinese imports have been hard on manufacturers. The escalating dispute also is unnerving Chinese consumers, depressing domestic demand. Forecasters say a US tariff increase on $200 billion of Chinese imports that took effect

CUSTOMERS shop at a toy store in Beijing on Wednesday, May 15, 2019. For many Americans, President Donald J. Trump’s trade war may soon get very real. His administration is preparing to extend 25-percent tariffs to practically all Chinese imports not already hit with duties, including toys, sneakers, shirts, alarm clocks, toasters and coffee makers. AP/MARK SCHIEFELBEIN

on Friday could trim economic g row t h by 0. 5 percent age points, stalling a recover y that appeared to be gaining traction. They say the loss could widen to 1 percentage point if both sides extend penalties to all of each other’s goods. That would push annual growth below 6 percent, raising the risk of politically dangerous job losses. “Policy-makers are likely to step

up stimulus again, mainly through pushing banks to make more loans and ramping up fiscal spending,” Macquarie Bank said in a report. It warned of “rising volatility” in financial markets due to uncertainty about trade and economic growth. “Things might have to get worse first to convince politicians to be realistic and get things done,” said the report. AP

Oil drops as increase in US stockpile counters supply risk in Persian Gulf O IL fell as an industry report signaling a jump in US stockpiles eased concerns over a supply crunch, after a drone attack in Saudi Arabia had highlighted the vulnerability of the country’s energy infrastructure. Futures in New York pared a loss of as much as 1.1 percent after closing up 1.2 percent on Tuesday. The American Petroleum Institute was said to report an 8.63-million barrel increase in crude inventories last week, compared with a forecast of 1.2 million barrel decline in a Bloomberg survey, before government data due on Wednesday. The Yemeni rebel attack on two Saudi pumping stations forced the world’s top oil exporter to temporarily shut its main cross-country crude link.

Oil has swung between gains and losses this month as investors weigh an increasingly tense situation in the Persian Gulf against an escalating US-China trade war that’s threatening to curb demand. Key producers in the Organization of the Petroleum Exporting Countries (Opec) will meet in Jeddah, Saudi Arabia, this week to review the oil market before a ministerial meeting at which they will decide whether to extend output cuts beyond June. The reported jump in US crude inventories is “eroding the fear premium from heightened tensions in the Middle East,” said Vandana Hari, the Singapore-based founder of Vanda Insights. The setback in US-China trade talks is helping the bears prevail over the bulls that are

focused on Opec production cuts, outages and supply risks, she said. West Texas Intermediate (WTI) crude for June delivery fell 45 cents, or 0.7 percent, to $61.33 a barrel on the New York Mercantile Exchange at 7:37 a.m. in London. It dropped as much as 66 cents earlier after closing 74 cents higher on Tuesday. Brent for July settlement was down 19 cents, or 0.3 percent, to $71.05 a barrel on the London-based ICE Futures Europe exchange after advancing 1.4 percent on Tuesday. The global benchmark contract is trading at a $9.51 premium to WTI. Stockpiles at the storage hub of Cushing rose by 2.06 million barrels, while gasoline and distillates inventories also climbed, the API was said to report. If the increase

in nationwide crude stockpiles is confirmed by Energy Information Administration data it would be the fourth weekly gain this quarter. A rebel group in Yemen claimed responsibility for the drone attack, with officials in Riyadh highlighting their links to Tehran. Since an apparent sabotage attack on Saudi oil tankers on Sunday, both of the kingdom’s main crude export routes have come under threat. Tension in the Middle East has been rising since the White House ended sanction waivers allowing some countries to keep buying Iranian crude. The US has sent a strike force to the region, although President Donald J. Trump rejected a report that his administration is planning for war with Iran. Bloomberg News

New security flaw in Intel chips could affect millions

S

ANTA CLARA, California— Intel has revealed another hardware security flaw that could affect millions of machines around the world. The bug is embedded in the architecture of computer hardware, and it can’t be fully fixed. “With a large enough data sample, time or control of the target system’s behavior,” the flaw could enable attackers to see data thought to be off-limits, Bryan Jorgensen, Intel’s senior director of product assurance and security, said in a video statement. But Intel said on Tuesday there’s no evidence of anyone exploiting it outside of a research laboratory. “Doing so successfully in the real world is a complex undertaking,” Jorgensen said. It’s the latest revelation of a hard-to-fix vulnerability affecting

processors that undergird smartphones and personal computers. Two bugs nicknamed Spectre and Meltdown set a panic in the tech industry last year. Intel said it’s already addressed the problem in its newest chips after working for months with business partners and independent researchers. It’s also released code updates to mitigate the risk in older chips, though it can’t be eliminated entirely without switching to newer chips. Major tech companies Google, Apple, Amazon and Microsoft all released advisories on Tuesday to instruct users of their devices and software, many of which rely on Intel hardware, on how to mitigate the vulnerabilities. As companies and individual citizens increasingly sign their digital lives over to “the cloud”—an

industry term for banks of servers in remote data centers—the digital gates and drawbridges keeping millions of people’s data safe have come under increasing scrutiny. In many cases, those barriers are located at the level of central processing unit, or CPU—hardware that has traditionally seen little attention from hackers. But last year the processor industry was shaken by news that Spectre and Meltdown could theoretically enable hackers to leapfrog those hardware barriers and steal some of the most securely held data on the computers involved. Although security experts have debated the seriousness of the flaws, they are onerous and expensive to patch, and new vulnerabilities are discovered regularly. Bogdan Botezatu, director of threat research for security firm

Bitdefender, said the latest attack was another reason to question how safe users can really be in the cloud. “This is a very, very serious type of attack,” Botezatu said. “This makes me personally very, very skeptical about these hardware barriers set in place by CPU vendors.” Intel said it discovered the flaw on its own, but credited Bitdefender, several other security firms and academic researchers for notifying the company about the problem. Botezatu said Bitdefender found the flaw because its researchers were increasingly focused on the safety and management of virtual machines, the term for one or more emulated mini-computers that can be spun up inside a larger machine—a key feature of cloud computing. AP

B6

Thursday, May 16, 2019

The World BusinessMirror

Saudi Arabia says its oil pipeline was hit by drones

D

UBAI, United Arab Emirates— An oil pipeline that runs across Saudi Arabia was hit on Tuesday by drones, the Saudi energy minister said, as regional tensions flared just days after what the kingdom called an attack on two of its oil tankers near the Persian Gulf. While both US President Donald J. Trump and Iran’s Supreme Leader Ayatollah Ali Khamenei said they were not planning for conf lict, the volatility was felt in oil markets with benchmark Brent crude trading over $71 a barrel, up more than $1 on the day. The pipeline that runs from the kingdom’s oil-rich Eastern Province to a Red Sea port was shut down, but Saudi Energ y Minister Khalid al-Falih Al-Falih vowed that the production and export of Saudi oil would not be interrupted. The Houthis, who are at war with Saudi Arabia, said earlier on Tuesday that they launched seven d rones target ing v ita l Saud i i n st a l l at ion s, w it hout elaborating. They later claimed responsibility for the pipeline attack in comments broadcast by Houthi military Spokesman Brig. Gen. Yahya Sari. In a statement carried by the state-run Saudi Press Agency, alFalih called the pipeline attack “cowardly,” saying recent acts of sabotage against the kingdom were targeting not only Saudi Arabia but also the safety of the world ’s energy supply and global economy. The attacks demonstrated the increased risks in a region vital to global energy supplies amid heightened tensions following t he Tr u mp ad m i n i s t r at ion’s withdrawal from the 2015 nuclear deal between Iran and world powers, and the subsequent reimposition of US sanctions to cripple the Iranian economy.

Iran has since said it would begin enriching uranium at higher levels by July 7 if world powers failed to negotiate new terms for the deal. The Saudis did not immediately assign blame for the drone assaults, which targeted two oil pumping stations west of the capital supplying the pipeline that runs from the east of Saudi Arabia to the Yanbu Port on its western coast. Still, al-Falih in his statement named Yemeni rebel Houthis as a group that must be internationally confronted and accused them of being backed by Iran, Saudi Arabia’s regional rival. Saudi Arabia has been at war with the Houthis and their allies in Yemen since March 2015, targeting the Iranian-allied rebels with near daily airstrikes. “ This is a message to Saudi Arabia: Stop your aggression,” Houthi Spokesman Mohammed Abdel-Salam told The Associated Press. “Our goal is to respond to the crimes they are committing ever yday against the Yemeni people.” Saudi Aramco, the government-controlled oil company, said that as a precaution, it temporarily shut down the East-West Pipeline and contained a fire, which caused minor damage to one pumping station. It added that Saudi Aramco’s oil and gas supplies were not affected. Saudi Arabia said the two petroleum pumping stations that were struck by drones are located in the greater region of Riyadh, home to the landlocked capital.

THIS satellite image provided by Planet Labs Inc. shows Saudi Aramco’s Pumping Station No. 8 near al-Duadmi, Saudi Arabia, Tuesday, May 14, 2019, after what the kingdom described as a drone attack on the facility. An oil pipeline that runs across Saudi Arabia was hit on Tuesday by drones, the Saudi energy minister said, as regional tensions flared just days after what the kingdom called an attack on two of its oil tankers elsewhere in the Mideast. SATELLITE IMAGE © 2019 PLANET LABS INC. VIA AP

The stations, targeted around the same time early Tuesday, are located in al-Duadmi and Afif, about 200 kilometers (125 miles) west and 400 kilometers (250 miles) west of Riyadh City, respectively. Saudi A rabia built its pipeline in the 1980s amid fears that the Iran-Iraq war wou ld cut off shipping through the Strait of Hormuz. The 1,200-kilometer (746 -mile) pipeline is actua l ly t wo pipes that have a tota l capacit y of 4.8 mil lion bar rels of cr ude oil a day, according to the US Energ y Information Administration. The two oil pumping stations are over 800 kilometers (500 miles) from Yemen’s northern border with the kingdom. The drone strikes ref lect how the Houthis have tried to expand their capabilities during the four-year war. The rebels have targeted Riyadh with missiles and used drones to disrupt air traffic at Saudi airports near the Yemen border. Iran has been accused by the US and the UN of supplying ballistic missile technology and arms to the Houthis, which Tehran denies. In Washington, Trump told reporters he would “absolutely” be willing to send troops to the Middle East, but that he’s not planned for that and hopefully won’t have to plan for that. W hile Trump dismissed a report in The New York Times that the W hite House is reviewing military plans against Iran that could result in sending 120,000 US troops to the Middle East if Iran attacks American forces or steps up work on nuclear weapons, he said if the US was going to get into a military conf lict with Iran, “we’d send a hell of a lot more” troops. K h a menei, Ira n’s supreme leader who has final say on all state matters, was quoted by state TV as telling senior officials that his country won’t negotiate with the United States, calling such talks “poison.” But he also said, “Neither we, nor them is seeking war. They know that it is not to their benefit.” At a Tuesday evening gathering, he reportedly added: “ T his is not a m i l it a r y conf ront ation, because no war is going to happen.” Wa s h i n g t o n r e c e nt l y d e ployed an aircraft carrier, the

USS Abraham Lincoln, and B-52 bombers to the Persian Gulf to counter alleged, still-unspecified threats from Tehran. The US has recently warned ships that “Iran or its proxies” could be targeting maritime traffic in the region. Meanwhile, the details around alleged acts of sabotage to four oil tankers, including two belonging to Saudi Arabia, off the coast of the UAE’s port of Fujairah remain unclear. Satellite images obtained on Tuesday by the AP showed no visible damage to the vessels, and Gulf officials have refused to say who they suspected was responsible. The MT Andrea Victory, one of the alleged targets, sustained a hole in its hull just above its waterline from “an unknow n object,” its owner Thome Ship Management said in a statement. Images of the Norwegian ship, which the company said was “not in any danger of sinking,” showed damage similar to what the firm described. S ate l l ite i m a ges prov ide d to the AP by Colorado-based Maxar Technologies showed a boom surrounding the Emirati oil tanker A. Michel, indicating the possibility of an oil leak. The other three showed no visible damage from above. A US official in Washington, without offering any evidence, told AP that a US military team’s initial assessment indicated Iran or Iranian allies used explosives to blow holes in the ships. The official was not authorized to discuss the investigation and, thus, spoke on condition of anonymity. Speaking in New Delhi, Iranian Foreign Minister Mohammad Javad said he spoke with Indian officials about concerns of “suspicious activities and sabotage in the region.” “We announced that we had previously predicted these sorts of activities aimed at escalating tension in the region,” he said. Also on Tuesday, Spain temporarily pulled one of its frigates that was part of a US-led f leet from near the Persian Gulf because of the mounting tensions. The Ministry of Defense said the Méndez Núñez, with 215 sailors aboard, will not cross the Strait of Hormuz into the Gulf with the USS Abraham Lincoln. The Spanish frigate was the only non-US vessel in the f leet. AP

www.businessmirror.com.ph

INTERNATIONAL WORRIES GROW OVER U.S. CLAIMS OF IRANIAN THREAT

W

ASHINGTON—International worries that the Trump administration is sliding toward war with Iran flared into the open amid skepticism about its claims that the Islamic Republic poses a growing threat to the US and its allies in the Persian Gulf and beyond. The US military on Tuesday rebutted doubts expressed by a British general about such a threat. President DonaldJ. Trump denied a report that the administration has updated plans to send more than 100,000 troops to counter Iran if necessary. But Trump then stirred the controversy further by saying: “Would I do that? Absolutely.” The general’s remarks exposed international skepticism over the American military buildup in the Middle East, a legacy of the 2003 invasion of Iraq that was predicated on false intelligence. US officials have not publicly provided any evidence to back up claims of an increased Iranian threat amid other signs of allied unease. As tensions in the region started to surge, British Foreign Secretary Jeremy Hunt said his nation was worried about the risk of accidental conflict “with an escalation that is unintended really on either side.” Then on Tuesday, Spain temporarily pulled one of its frigates from the US-led combat fleet heading toward the Strait of Hormuz. That was followed by the unusual public challenge to the Trump administration by the general. “No, there’s been no increased threat from Iranian-backed forces in Iraq and Syria,” said Maj. Gen. Chris Ghika, a senior officer in the US-backed coalition fighting the Islamic State group. Ghika, speaking in a video conference from coalition headquarters in Baghdad, told reporters at the Pentagon that the coalition monitors the presence of Iranian-backed forces “along with a whole range of others because that’s the environment we’re in.” But he added, “There are a substantial number of militia groups in Iraq and Syria, and we don’t see any increased threat from any of them at this stage.” Late in the day, in a rare public rebuttal of an allied military officer, US Central Command said Ghika’s remarks “run counter to the identified

credible threats” from Iranian-backed forces in the Mideast. In a written statement, Central Command said the coalition in Baghdad has increased the alert level for all service members in Iraq and Syria. “As a result, [the coalition] is now at a high level of alert as we continue to closely monitor credible and possibly imminent threats to US forces in Iraq,” the statement said. At the White House, Trump, who has repeatedly argued for avoiding long-term conflicts in the Mideast, discounted a New York Times report that the US has updated plans that could send up to 120,000 troops to counter Iran if it attacked American forces. “Would I do that? Absolutely,” he told reporters. “But we have not planned for that. Hopefully we’re not going to have to plan for that. If we did that, we’d send a hell of a lot more troops than that.” Reinforcing Trump’s denial, Secretar y of State Mike Pompeo said at a joint news conference in Sochi with Russian Foreign Minister Sergei Lavrov, “We fundamentally do not seek war with Iran.” A Trump administration official said a recent small meeting of national security officials was not focused on a military response to Iran, but instead concentrated on a range of other policy options, including diplomacy and economic sanctions. The official spoke on condition of anonymity to discuss internal deliberations. Lavrov said Pompeo told him that a potential deployment of 120,000 US troops to the Mideast was only a “rumor.” Lavrov said the international community needs to focus on diplomacy with Iran, including on the potentially explosive issue of Iran’s nuclear program, which is constrained by a US-brokered deal in 2015 that Trump has abandoned. US Iran envoy Brian Hook told reporters traveling with Pompeo in Brussels that the secretary of state shared intelligence on Iran with allies since “Europe shares our concerns about stability in the Gulf and the Middle East.” What the Europeans do not share, however, is Washington’s more aggressive approach to Iran. AP

UK’s May to make new push on her Brexit deal next month

L

ONDON—Br it ish Pr ime Minister Theresa May will try again next month to secure Parliament’s backing for a Brexit deal so that the UK can leave the European Union this summer, May’s office said on Tuesday. Downing Street said May intends to ask lawmakers to vote on a withdrawal agreement bill starting the week of June 3. Parliament has three times rejected the divorce deal May and the EU struck late last year, laying out the terms of Britain’s departure from the bloc. Brexit, long set for March 29, has been delayed until October 31 while Britain’s politicians try to break the deadlock. May’s office said in a statement that if lawmakers passed the bill, the UK could still leave the EU “before the summer Parliamentary recess,” which is likely to start in late July. But it is far from clear how the government plans to persuade a majority of lawmakers to back May’s EU divorce terms, since few legislators on either side of the Brexit divide seem prepared to change their positions. And approving the bill, which implements the terms of Britain’s departure, does not remove the need for Parliament to separately ratify the thrice-rejected EU withdrawal deal. The government calculates that if a majority of lawmakers can be persuaded to approve the legislation on Brexit terms, they will then back the deal, as well. Ministers also hope that the process of debating—and potentially amending—the bill will help lawmakers reach a form of Brexit a majority can support. But that looks like a long shot. May’s Conservative government

has held weeks of talks with the opposition Labour Party in an attempt to reach a compromise on some of the major sticking points, but so far without signs of much progress. The two sides do not agree on how close an economic relationship the UK should have with the EU after Brexit. Both May and Labour leader Jeremy Corbyn are under strong pressure from their party members not to make concessions to their rivals. However, neither side wants to be the one to pull the plug on negotiations. May and Corbyn met for faceto-face talks on Tuesday. Downing Street said the meeting was “useful and constructive.” Their representatives are set to continue the talks on Wednesday. But Labour sounded pessimistic about the chances of a breakthrough. The party said in a statement on Tuesday night that Corbyn expressed concerns to May “about the prime minister’s ability to deliver on any compromise agreement.” Labour said Corbyn “raised doubts over the credibility of government commitments.” The party fears any promises from May could be undone by her successor. The prime minister is under immense pressure from Conservative lawmakers to quit because she failed to lead Britain out of the EU on schedule. May has said she will resign once a Brexit deal is approved and make way for a new leader to guide the UK through the next stage—talks with the EU on future relations. Many Conservative lawmakers are pressing her to be more specific and to name a date for her departure. AP

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, May 16, 2019 B7

Farm-gate price of rice continues to slide

T

HE average farm-gate price of unhusked rice fell further in the fourth week of April even if the National Food Authority (NFA) has stepped up its purchases of the staple in recent months. Data from the Philippine Statistics Authority (PSA) showed that the average price offered by traders declined by 11.3 percent to P18.37 per kilogram, from P20.71 per kg recorded in the same period last year. “On the average, the farm-gate price of palay at P18.37/kg posted a 0.6-percent decline from its previous week’s level of P18.48/kg,” the PSA said in its latest update on palay and corn prices published recently. Traders appeared to be unfazed by the increase in the purchases of the NFA. The food agency announced that it has bought 3.073 million 50-kg bags of palay, equivalent to 153,665.5 metric tons (MT), from farmers in January to April. The volume procured by the food agency was 55 times higher than the 55,509 bags it bought a year ago. NFA OIC-Administrator To-

mas R. Escarez attributed the jump in the food agency’s purchases to its “attractive” buying price. The NFA has maintained its effective buying price of P20.70/ kg as a way of shielding farmers from the detrimental effect of a more open domestic rice market. PSA data showed that the drop in the farm-gate price was reflected in the wholesale and retail prices of well-milled rice and regular-milled rice. “ R e l at ive to t he pre v iou s week ’s level of P39.91/kg, the average wholesale price of wellmilled rice at P39.72/kg posted a downtrend as it had a 0.5-percent drop during the period,” the report read. “Likewise, it decreased further by 3.5 percent from the same week of previous year’s level of P41.16/ kg,” it added. On a yearly basis, the PSA said the average retail price of well-

PRICES of assorted varieties of rice are seen at the San Andres public market in Manila in this BusinessMirror file photo.

milled rice fell by 0.6 percent to P43.52/kg, from P43.77/kg last year. Compared with the previous week’s level of P43.68/kg, the figure is lower by 0.4 percent. Data from the PSA showed that the average wholesale price

Govt on alert as destructive fall armyworm spreads in SE Asia

T

HE Bureau of Plant Industry (BPI) has ordered its regional directors to monitor farms to determine the immediate presence of the highly destructive fall armyworm, which is now wreaking havoc on plantations in neighboring Southeast Asian countries. BPI OIC-Director George Y. Culaste issued the directive to the agency’s regional executive directors in a memorandum dated May 9. “In view of the continuous and rapid spread of fall armyworm in our neighboring countries and since the Philippine climatic conditions is conducive to the preference of the devastating pest, you are hereby advised to alert your staff to engage in pest surveillance,” the memo read. “You are also advised to closely

monitor the pest by conducting detection survey in your respective regions to determine its presence for immediate management,” it added. Cu l aste noted t hat fa l l armyworm was reported in Africa in 2016. The destructive pest has since spread from the African continent to India and several Asia-Pacific countries, Bangladesh, Nepal, Myanmar, Thailand and China. Reports from these countries indicate that it has caused billions of dollars worth of damage to corn and other crops and caused food insecurity in some African countries. In Zimbabwe, for instance, the pest was tagged as one of the major factors behind rural food shortages. “Fall armyworm poses a threat outside its range particularly in temperate regions because adult

armyworm can travel several hundred kilometers in a single day by flying to and maintaining an elevation of several hundred meters at which height winds can transport them in a directional manner,” the memo read. Culaste noted that it has been reported in more than 90 countries and it is capable of dispersing further via commercial trade or strong migratory flight behavior. The BPI, an attached agency of the Department of Agriculture, said the pest in Central America destroyed some 70 percent of yield when it was not controlled. The agency also said the pest is difficult to control as it has natural levels of tolerance to some insecticidal proteins and has demonstrated ability to develop resistance to insectides and traits.

Australia goes sour on sugar as China indulges sweet tooth

A

USTRALIANS seem to be turning sour on sugar. Consumption has been flatlining, and appetite for the sweet stuff probably won’t grow much at all medium term as people shift to low sugar, diet and sugar-free options, said Charles Clack, a Rabobank analyst in Sydney. Some state governments have been trying to discourage consumption by displaying graphic images of rotting teeth and fatty organs on buses and billboards. “Health is a large factor behind this trend, offsetting the positive influence of stable domestic population growth,” said Clack. Australia isn’t the only place where people appear to be wary of over-indulging in sugar. Demand in the European Union has hardly changed in recent years, and several countries have imposed taxes on sugar consumption, including the United Kingdom and South Africa. Yet Asia’s taking up the slack, eating and drinking more of the sweetener than ever before. Since the region accounts for over 40 percent of the world’s sugar consumption, global demand has been climbing steadily, expanding 15 percent in the past decade, according to the United States

Department of Agriculture. Not only has Asian usage been rising, but it has more room to grow, with populations expanding and per-capita consumption low in some countries. In Australia, people consumed 10.8 kilograms per person of sugar and sweeteners in 2018, while consumption in North America was 11.5 kilograms, according to Euromonitor data. In China, people ate or drank just 5.5 kg per person and in India it was 8.9 kg. Health issues “are not exclusive to Australia but, with lower per-capita consumption, there is a less pressing agenda in India and China to address sugar overconsumption,” said Clack. Given the lower sugar ingestion, health concerns are less prevalent, he said. He expects both those Asian nations to show signs of increasing sugar consumption through this year.

Moderation important

DEMAND in some Asian nations is considerably higher than developed countries. In Malaysia, one of the top users in Asia Pacific with consumption of 31.5 kilograms per person of sugar and sweeteners last year, the country’s top producer of refined

sugar says it’s unfair to just blame sugar for diseases. “I disagree saying that only sugar causes diabetes. It’s about the way of life: how you manage your diet, exercising, taking things in moderation,” said Khairil Anuar Aziz, executive director of MSM Malaysia Holdings Bhd. “Some people may not like it when I say this because I’m in the sugar business, but logically we as human beings need sugar as well, and moderation with a balanced lifestyle is very important,” he said in an interview.

China market

MSM is hoping to tap rising demand in China, and is in the final stages of discussions to set up partnerships in the nation’s downstream industry. It also wants to sell sugar for popular snacks such as bubble tea and for health drinks. Rising demand may help bring relief to farmers. The global market could swing to a 4.3-million metric ton deficit in 2019-2020 from this year’s 1.1-million ton surplus, Rabobank said in March. Futures in New York are broadly flat in 2019 after plunging about 40 percent in the past two years. Bloomberg News

of regular-milled rice also went down by 3.8 percent to P36.18/ kg, from last year’s P37.60/kg. On a weekly basis, the latest figure is lower by 0.17 percent. “At the retail trade, the average pr ice of regular-milled

rice at P39.15/kg registered a 0.4-percent decrease from its previous week’s level of P39.29/kg. Compared with the same week in the previous year’s level of P40.03/kg, it was lower by 2.2 percent,” the report read.

Data from the PSA also showed that the average farm-gate price of yellow corn at P14.21/kg was higher by 0.5 percent, than the P14.14/kg recorded last year. On a weekly basis, the latest figure was 1.1 percent higher than the P14.05/kg posted in the third week of April. The wholesale price of yellow corn, the PSA said, inched up by 0.4 percent to P20.26/kg, from last year’s P20.19/kg. The average retail price of P24. 8 6/ k g wa s lower by 4.7 percent compared to last year’s P23.75/kg. On a weekly basis, the latest figure was 0.3 percent lower than the P24.93 recorded in the third week of April. “The average farm-gate price of white corn at P16.10/kg during the period decreased by 0.2 percent relative to its previous week’s level of P16.13/kg. On [an] annual basis, it was also lower by 7.6 percent from the same period of previous year’s level of P17.42/ kg,” the report read. The average wholesale price of white corn at P22.68/kg was 13 percent higher than the P20.08/ kg recorded last year. Relative to its previous week’s level, the figure was 0.2 percent lower. The PSA noted that the average retail price of white corn settled at P29.12/kg for three consecutive weeks. However, the figure was lower by 2.8 percent from last year’s level of P29.96/kg.

B8 Thursday, May 16, 2019

DUNHILL SUPPORTS YOUR BRAND BEYOND IMAGINATIONS

F

OR more than 5 years Dunhill Events and Advertising Promotions has successfully established and helped build brand confidence to all Philippine businesses. As part of their campaign to strengthen partnership with prominent entrepreneurs, Dunhill Events and Advertising Promotions recently sponsored the 2019 San Beda Law Golf Cup reaching out to more than a hundred attendees in Sherwood Hills. Getting the deal done at the right price is the objective, according to overall marketing manager Rachell Corpuz. “We always have it in our minds to make things easy for our clients by advancing our technology and services.”

With greater news coming up, Dunhill Events and Advertising Promotions is proud to add new malls to over a hundred existing clientele on its portfolio, naming mall booth-ad placement as their main expertise, following printing services such as corporate souvenirs to large-scale billboard and transport ads. The team guarantees peace of mind with a parade of recognitions from years of experience, such as the Elite Business Leadership Awards, Philippines’s Top Choice Awards and the Netizen’s Best Choice awards, to name a few. Your one-stop shop for all advertising needs, Dunhill Events and Advertising Promotions should have the services available for you, supporting your brand beyond imaginations.

THERE’S ALWAYS A REASON TO SMILE AT SM SUPERMALLS

SUN LIFE TAKES FIRST SPOT FOR 8 YEARS IN A ROW

F

OR the eight years in a row Sun Life of Canada (Philippines) Inc. (Sun Life) was once again named the No. 1 life-insurance company in the Philippines. According to a report released by the Insurance Commission, Sun Life bested other companies in terms of premium income as it garnered P37.39 billion in 2018. The company also led in in new business annual premium equivalent, which amounted to P8.22 billion. “There are so many factors that made this milestone possible, the most significant of which are the support of our clients, the passion of our advisors and the hard work

of our employees,” Sun Life President Alex Narciso said. “It is our honor to be the Filipinos’ trusted partner in their pursuit of a brighter life.” In 2018 Sun Life pioneered digital insurance, boosted services for the middle-market segment through strategic partnerships, leveraged technology to improve processes, and strengthened its health and wellness thrust. All these resulted to a significant growth in the company’s client base, which is now at 4.3 million. Meanwhile, its number of advisors also increased to over 14,000.

This year Sun Life is gearing up to launch even more initiatives designed to help Filipinos achieve lifetime financial security and live healthier lives. “Giventhegrowththatweachievedlastyearandhow the industry in general flourished, it is clear that more and more Filipinos are appreciating the value of life insurance,” Sun Life Financial Chief Executive Officer and country head Benedict Sison said. “Sun Life is committed to being the Filipinos’ lifetime partner in this journey. There is still a lot we need to do so that more can enjoy the benefits of insurance, but we are ready to take on this challenge.”

PUBLICIS GROUPE PHILIPPINES WELCOMES KEN LINGAN FROM GOOGLE

G

S

UMMERisn’toveryet,asSMMegamall,incollaboration with Smiley World, transforms the mall complex into a smileyfilled Instagrammable destination with the Happy Smiley Summer campaign. Catch the smileys, and hang around and snap shots with the squad for the whole month of May! Lounge aroundattheSmileyBeachordiveintotheBallPitfora minimum spend of P1,500 from any SM Megamall shop and restaurant. “We aim to create a happier summer experience for all, as

we bring in smiley activations and installations that are sure to make shopping more fun and exciting. Of course, this is made possible by our collaboration with Smiley World,” said Jonjon San Agustin, SM Supermalls senior vice president for marketing. Match your mood with emojis at the Smiley Steps at the Mega Fashion Hall entrance. Don’t miss the chance to take a shot at the larger-than-life Smiley Chairs to pump up your summer fun with family and friends.

OOGLE Philippines country manager Ken Lingan (in photo) joins Publicis Groupe Philippinesasitschiefexecutiveofficer(CEO) in July. He is under to Raymond Arrastia, chairman of Publicis Groupe Philippines. “I am very happy to have Ken joining our leadership team in the Philippines,” said Nicolas Menat, CEO of Publicis Groupe North Asia and SoutheastAsia.“Withthismajorappointment,we continue toaccelerate,lead the change,in this very important market in Southeast Asia....” “TogetherwithRaymond,hewillbekeypillar of the group’s ‘Power of One’ strategy, putting our clientsatthecenterofourorganization,seamlessly

offering them best-in-class capabilities, with a relentless passion for creativity, to help them grow in a world that is moving so fast,” Menat added. LinganhasbeenleadingGoogle’sinitiativesinthePhilippinesforfouryears,lookingover the growth of Google’s online advertising business in various sectors. He has more than 16 years of experience in marketing and brand development that included senior-management positions in Unilever Southeast Asia and the Gulf Region. “I am very much impressed by Publicis Groupe’s business transformation and organizational structure, which has enabled the company to put its clients at the center and to facilitate access to all its services in a seamless and integrated approach,” he said. “My learnings at Unilever and, more recent, at Google, show that clients want integration as they face the risk of market fragmentation today.” He will work closely with the rest of the Publicis leadership team in leveraging data and technology to deliver winning solutions for clients in the Philippines, through the Power of One strategy.

WARRIORS IN GAME 1 KANTER

Sports BusinessMirror

C1

| Thursday, May 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

US senator seeks safe passage for Turkish Blazers star Kanter

S

ALEM, Oregon—US Sen. Ron Wyden wants to ensure Portland Trail Blazers center Enes Kanter, a Turkish star whom Turkey wants arrested for his criticism of President Recep Tayyip Erdogan, will be able to safely travel to Canada for a possible National Basketball Association (NBA) championship series against the Toronto Raptors. The Oregon senator wrote on Tuesday to Canadian Prime Minister Justin Trudeau asking that his government facilitate Kanter’s safe passage to and from Canada if the Blazers advance to the title series. “I also urge your government to state publicly that it will not comply with any Interpol red notice meant to interfere with Mr. Kanter’s livelihood and to intimidate him and his family back in Turkey,” Wyden wrote. Wyden is a fan of his hometown team, often attending games and he appeared in photos alongside the player who helped push the Blazers past the Denver Nuggets to advance to the Western Conference Finals. Turkish officials have sought a “red notice”—an international wanted notice—for Kanter through Interpol. Kanter’s Turkish passport was canceled in 2017. Kanter is a longtime critic of Erdogan. Trudeau’s office referred a reporter’s request for comment to the immigration minister’s office. Mathieu Genest, a spokesman for the immigration minister, said Canada’s privacy laws prohibited him from commenting on specific cases, but he explained that “we are committed to ensuring that every case is assessed fairly, on its merits and in accordance with Canada’s laws.” A senior Canadian government official said they received the letter and are looking into the case. The official, who spoke on condition of anonymity because they were not authorized to talk publicly about the case, said the immediate facts before them suggest there is an abuse of Interpol’s red notice system but said they would have to study it further. The official drew a parallel to the red notice case of American Bill Browder. The official said Canada made it clear Browder, a noted Russia critic, could visit and that it wasn’t Russia’s decision. AP

By Janie Mccauley

O

The Associated Press

AKLAND, California—Stephen Curry had all kinds of room for a change and capitalized, finding his shooting touch in a hurry to get Golden State on a roll. Portland’s defenders were too far back in the paint or a step behind all night. “Practice shots,” Trail Blazers star Damian Lillard said of Curry’s wide-open chances. So far, the Warriors are showing they can keep winning until Kevin Durant gets healthy. Making it look easy again, Curry knocked down nine 3-pointers on his way to 36 points, leading the two-time defending champions past the Trail Blazers, 11694, on Tuesday night in Game One of the Western Conference finals. “I know what I’m capable of on the floor. The situation calls for me to be a little bit more aggressive and hopefully that’ll continue,” said Curry, who came in shooting 37.1 percent on threes this postseason. “Obviously it’s nice to see the ball go in. I didn’t shoot the ball well for 4 1/2 games the last series and got off to a good start tonight. I want to maintain that. Every game is different, you’ve got to reestablish yourself. That’s my perspective no matter how I play.” Curry shot 12 for 23 in his fourth 30-point performance this postseason, finding far more open looks than he had in the last round against Houston. The two-time National Basketball Association Most Valuable Player outplayed the Portland duo of Lillard and CJ McCollum, who combined to go 11 for 31 against a strong Golden State defense. “It’s good to see Steph have a game like that at a time that obviously we need him most,” Draymond Green said. Klay Thompson had 26 points, including a late one-handed slam. Green established the energy on both ends early for the well-rested Warriors, finishing with 12 points, 10 rebounds, five assists, three blocks and two steals. Lillard scored 19 points back home in Oakland, just miles away from where he grew up. He appreciated all the support but wants to stick to basketball. “That’s part of what makes it special, I’m from here,” Lillard said. “I could

STEPHEN CURRY burns the hoops for the Warriors as his little brother Seth struggles with three points for the Blazers. AP

walk home from here if I wanted to, that tells you how close it is.” McCollum had 17 and missed five of his six threes as the cold-shooting Blazers went just seven for 28 from long range. Game Two is on Thursday night, and the Warriors are unlikely to have Durant back from a strained right calf. An update on Durant’s status is expected that day once the two-time reigning NBA Finals MVP is reexamined. “I think we played a terrible game and we still had a chance going into the fourth quarter,” McCollum said, “so we need to tighten some things up and look forward to the game on Thursday.” Curry came off screens with authority and matched his postseason career high for threes, also accomplished in Game One of last year’s finals against Cleveland. He found his groove far earlier than in the Game Six clincher at Houston on Friday night, when he scored all 33 of his points in the second half. Little brother Seth struggled with three points for Portland, which shot 36.1 percent overall. “It’s not one-and-done. We’ve got a series, it’s one loss,” Blazers Coach Terry Stotts said. “We’ve got to play better, particularly at the offensive end, but we’ve got to be better at both ends.” Lillard hit a game-winning 3-pointer with 6.3 seconds remaining in overtime on December 27 in his last regular-season game at Oracle Arena. He averaged 28.3 points and 6.5 assists in four regular-season games against Golden State this season. He arrived for Game One in a custom Oakland Athletics baseball jersey having averaged 30 points in his nine previous playoff matchups against the Warriors. Green has at least 10 rebounds in six straight playoff games, matching his postseason career-best streak of six also done last year. “This series is going to get tougher and tougher,” Green said.

Similarities abound between Milwaukee, Toronto

T

HERE’S a one-name superstar on either side: Giannis and Kawhi. There’s a Milwaukee franchise that hasn’t been to the National Basketball Association (NBA) Finals in 45 years, opposite a Toronto franchise that has never been to the title round. The Bucks have a coach with an economics degree who wasn’t there last year; the Raptors have a coach with an accounting degree who wasn’t the boss last year. Similarities abound between Milwaukee and Toronto. Over the next couple of weeks, one team will separate itself. The top-seeded Bucks play host to the second-seeded Raptors on Wednesday night in Game One of the Eastern Conference finals. They had the best records in the NBA this season—Milwaukee went 60-22, Toronto went 58-24—and one of them will have home-court advantage for the NBA Finals starting on May 30. “You can’t get caught up in people’s expectations,” Raptors star Kawhi Leonard said on Tuesday. “You’ve got to worry about self-expectations, team expectations, and winning, and that’s what we have to focus on. It doesn’t matter about the one-on-one match-up. This game isn’t a one-on-one basketball game.” Leonard made the shot that sent Toronto to the conference final, a buzzer-beating corner jumper over Joel Embiid that bounced on the rim

four times before dropping. The Bucks, predictably, were impressed. However, they weren’t rattled. The team with the best regular-season record also has the best record in these playoffs so far at 8-1, and confidence is not in short supply. The Bucks’ only blemish in these playoffs is a Game One loss at home against Boston in the second round, a mistake that will be on their minds on Wednesday. “Against Boston, you can go down 1-0 and you’ll still be fine,” Bucks star Giannis Antetokounmpo said Tuesday. “But against Toronto, it’s hard to be in that spot, to lose the first game in your home.” Milwaukee Coach Mike Budenholzer is acutely aware of all that Leonard brings to the table. He was an assistant in San Antonio when Leonard was getting started there—after the Spurs, somewhat ironically, traded George Hill to Indiana for Leonard’s draft rights. Hill is now the Bucks’ backup point guard. “He made a great first impression on San Antonio on his teammates, on his coaching staff,” Budenholzer said when asked about his early days with Leonard. “Just the ability to get loose balls, rebounds and all kinds of little things that sometimes go unnoticed. But to think that he was going to evolve to the player he is...I don’t know when that happened.”

FAMILY AFFAIR

BETWEEN warmup shots, Seth Curry stole a glance to the other end as his big brother went through his own pregame routine. Back in the locker room, Stephen Curry said, “That was wild.”Then, he joked, “Only me and Seth are going to score, the whole series.” The Currys became the first brothers to ever face off in a

conference final and the first in any round since Marc Gasol for the Grizzlies against Pau Gasol and the Spurs in the first

round of the 2017 playoffs. “I caught myself a couple times looking up in the stands at my parents,” Stephen Curry said.

ON THE ROAD

COACH Steve Kerr certainly thought the rest benefited the Warriors. “The schedule favored us but I thought we took advantage of the situation and got off to a good start,” Kerr said. The Blazers traveled straight to the Bay Area from Denver after winning Game Seven on Sunday rather than return to Portland. “Denver seems like a week ago now,” Stotts said.

RARITY

THIS is the first East final since 2006 where neither coach was leading his respective team a year earlier. Miami’s Pat Riley faced off against Detroit’s Flip Saunders in 2006; Riley was in the Heat front office the previous year, and Saunders was getting fired by Minnesota. Raptors Coach Nick Nurse was an assistant with the Raptors under Dwane Casey last season, and Budenholzer was in the final year of his stint with Atlanta.

INJURY WATCH

THE Raptors are still without key reserve OG Anunoby (appendectomy), and Nurse said it likely will be at least another week before the team could pinpoint a possible return date. The Bucks will be without Pau Gasol for the rest of the season with a foot injury—so unlike the West final where Golden State’s Stephen Curry meets Portland’s Seth Curry in a brother-brother matchup, the East final will be played without Raptors center Marc Gasol facing his brother.

POWER MATCHUP

THIS is the first time an East final has paired teams that posted at least 58 regular-season wins since 2011, when Miami (58-24) beat Chicago (62-20). It’s the 33rd time that a No. 1 seed has faced a No. 2 seed since the 16-team format was put into use in 1984; in the East, No. 2 seeds have beaten No. 1 10 of 18 times, and in the West it’s the No. 1 seeds with an 8-6 edge.

KAWHI LEONARD: This game isn’t a one-on-one basketball game. AP

CHASING HISTORY

TORONTO has already tied a franchise record with 66 wins this season, counting both regular season and playoff contests. The 2015-2016 Raptors went 66-38 overall; these Raptors are 66-28 so far. The Bucks are up to 68 wins this season, fourth-most in franchise history. The 1970-1971 Bucks won 78 games, so Milwaukee’s single-season mark is out of reach, but this season’s team could get to No. 2. The 1973-1974 Bucks won 70 games and the 19711972 Bucks won 69.

MONEY MATTERS

THE NBA’s playoff pool of bonus money this season is a record $21,676,510, and Milwaukee and Toronto are both assured a significant chunk of that. The Bucks have already claimed $2,516,774 in pool money; the Raptors are up to $1,782,207. The winner of this series is assured $2,543,681 more just for making the NBA Finals—and would get another $1,295,117 for winning the title. AP

Spo

Business

C2 Thursday, May 16, 2019

ARIANA EYES OLYMPIC SLOT, PHL SEA GAMES GOLD MEDAL

C

TIGER’S NEW CHALLENGE

F

ARMINGDALE, New York—Tiger Woods, the Masters champion, going for the second leg of the Grand Slam on a long, wet course at Bethpage Black. It all sounds so familiar. For Woods, it feels entirely different. The Professional Golfers’ Association (PGA) Championship now occupies the second slot in the major championship schedule given its move to May for the first time since 1949, and with only a month between majors, Woods chose not to play a tournament since winning his fifth green jacket. He is every bit the global superstar he was in 2002 when he followed a Masters victory with a US Open title at Bethpage Black, but he is not No. 1 in the world. And along with being 43, he is two years removed from fusion surgery on his lower back, and some days he doesn’t move as well as others. “There’s more days I feel older than my age than I do younger than my age,” Woods said. The new version of an older Tiger is more than capable. He showed that last September when he won the Tour Championship at East Lake, his first victory since going through four back surgeries. And he showed in April, with his 15th major, that he was capable of challenging the Jack Nicklaus standard of 18 majors. Still to be determined is whether Woods can be the dominant force he had been for a

dozen years. “I’m not looking at it like that,” Woods said. “Whether I’m dominant or not going forward, that remains to be seen. What I know is I need to give myself the best chance to win the events I play in, and sometimes that can be taking a little bit more breaks here and there, and making sure that I am ready to go and being able to give it my best at those events.” Of the top 10 players in the world, Woods (No. 6) and Bryson DeChambeau (No. 8) are the only ones who have not played since the Masters. This will be only the seventh time that Woods has gone major to major without having played somewhere in between, with mixed results. The most famous was in 2008 when he showed up at Torrey Pines for the US Open on a shattered left leg and won in a playoff. What held him back this time was emotional exhaustion from a moment in golf that won’t be soon forgotten. Lucas Glover had gone to the movies, taped the final round and was tearyeyed at the end, especially when Woods hugged his son. Brooks Koepka, whose last hope ended when he missed a 10-foot birdie putt on the 18th, recalls being in the scoring area, unable to keep his eyes off the TV. “I think it’s something that any player, any fan, any golfer was probably glued to the TV at that moment watching it,” Koepka said. “It was

Tigers take on St. Clare cagers

I

RONCON-UNIVERSITY of Santo Tomas (UST) and Saint Clare College Virtual Reality face off in a crucial Aspirants Group duel on Thursday in the Philippine Basketball Association Developmental League at the Ynares Sports Arena in Pasig City. The tip-off for the all-important duel, which could make or break both teams’ playoff fates, is at 4 p.m. The Growling Tigers struggled as of late, losing two of their last three games and found themselves with a 5-2 won-lost card. Those struggles couldn’t get any more evident than in their 92-80 defeat to Che’Lu Bar and Grill on May 6. Coach Aldin Ayo understands the situation Ironcon-UST is in and he hopes to draw better performances from young guns Soulemane Chabi Yo, Rhenz Abando and Mark Nonoy anew. “We are fixing the system. The team is young, so these boys need to experience these hardships,” Ayo said. Saint Clare, meanwhile, is back on track with a 93-82 win over McDavid on May 2 to improve to a 5-2 record. And for Coach Jinino Manansala, he’s glad with how the Saints have held themselves in this late chase, with Junjie Hallare and Darwin Lunor leading the break. “We are ready for UST. We couldn’t be complacent,” Manansala said.

NCAA to consider allowing athletes to profit from names

TIGER WOODS’S yacht Privacy is docked at the Oyster Bay Marine Center. AP

pretty neat, pretty special for all of us. I was a little bit disappointed. But at the same time, that’s what our sport needed. We needed him to win a major.” How about another?

Koepka, listed among the betting favorites, isn’t about to concede. Bethpage Black, which figures to play even longer than its 7,459 yards in soft conditions, is suited for good drivers like Koepka, Dustin Johnson and Rory McIlroy. Woods couldn’t reach the green on the par-four seventh hole with a 3-wood on Monday. Johnson got there with a 3-iron, though he gave it all he had. Woods now relies as much on his experience as brute strength, though he remains long enough. Padraig Harrington noticed watching the final round of the Masters. Harrington suspects Woods has lost a little ball speed off the club. What got his attention was how Woods played amid a six-player logjam on the back nine. “He closed it out like he was only interested in winning that tournament,” Harrington said. “He wasn’t interested in proving to the world that he’s a good driver of the ball or anything like that. I think he just was interested in getting the job done. That’s a tough Tiger to beat when he’s in that frame of mind.” Woods declared himself “rested and ready” after his month away from competition. He says he spent time in the gym and didn’t get back to the grind until he was ready, which was just over two weeks ago. AP

McIlroy likely to compete in Tokyo 2020 for Ireland

F

ARMINGDALE, New York—Rory McIlroy will likely go to the 2020 Olympics and represent Ireland. The 30-year-old from Northern Ireland disclosed his decision on Tuesday, two days before the start of the Professional Golfers’ Association (PGA) Championship at Bethpage Black. McIlroy skipped the Rio de Janeiro Games in 2016 in part because he felt the Olympics were forcing him to decide whether he would represent the United Kingdom or Ireland. Northern Ireland is part of the United Kingdom. McIlroy cited the outbreak of the Zika virus as part of his concern in attending the Rio

Games, but he also said making a choice about which country he would represent wasn’t worth the hassle. The four-time major champion has settled his internal issue. “I’ve thought about that for a long time, and in the end, it was the fact that when I was a little boy and I got that first call-up to the national squad to go on to Citywest and be a part of the youth system or the boys or whatever, you know, and making that team and playing in home internationals, I was so proud to do that,” McIlroy said of playing for Ireland. “So why would it be any different just because it’s a different golf tournament or because it’s a different arena or a different environment?” he

R

T

HE NCAA is looking at how its rules can be modified to allow college athletes to be compensated for their names, images and likenesses. NCAA President Mark Emmert and the Board of Governors announced on Tuesday that Big East Commissioner Val Ackerman and Ohio State athletic director Gene Smith will head a new working group on the topic.

rehab and look forward to seeing you all at the French Open and next year in Rome.” The next tournament on Serena’s schedule is Roland Garros, which starts in less than two weeks. It’s the third straight event that the 37-year-old Serena has exited from due to physical problems. She retired due to a viral illness during her third-round match against Garbine Muguruza in Indian Wells, California; and withdrew with the left-knee injury before her third-round match at the Miami Open in March. As a result of this latest withdrawal, Venus

“This group will bring together diverse opinions from the membership—from presidents and commissioners to studentathletes—that will examine the NCAA’s position on name, image and likeness benefits and potentially propose rule modifications tethered to education,” Ackerman said in a statement. “We believe the time is right for these discussions and look forward to a

MOUNTAIN bike champion Ariana Dormitorio sets her goals high this year. ROY DOMINGO

Gaming Corp. Dormitorio will be competing in a UCIsanctioned meet in Japan next month as part of her preparation for the Lebanon race. And then there are the SEA Games. “My goal in the SEA Games is to win the gold, and I’m happy that somehow, I am regularly competing against those riders from Southeast Asia, so more or less, I am already very familiar with them,” she said. Dormitorio, who trained in the UCI Training Center in Switzerland recently, mentioned Thailand as her biggest rival in the mountain bike event to be held in Tagaytay City. Mountain bike will be the first event to be held in the SEA Games set from November 30 to December 11.

PSC Women’s Martial Arts Fest on, futsal clinic unwraps in Davao City

T

HE Philippine Sports Commission (PSC) will stage the sixth edition of the Women’s Martial Arts Festival from May 28 to 31 at the Harrison Plaza in Malate, Manila. The martial-arts festival is a PSC initiative to support of Republic Act No. 9710, also known as the “Magna Carta of Women,” which spells out every woman’s right to equal participation in sports. The program includes measures to ensure that gender-based discrimination in competitive and noncompetitive sports is removed so that women and girls could benefit from sports development. “We want to continue what we’ve started in last year’s edition, and that is engaging with more than 1,600 women and children, playing sports and exercising their right to do so,” PSC Commissioner Celia Kiram said. Kiram said 10 sports will be staged this year— arnis, fencing, judo, karatedo, muay thai, pencak silat, taekwondo, wrestling and wushu. Some 200 children, meanwhile, are participating in the Barangay 76-A Summer Futsal

Clinic that was launched in Davao City on Saturday at the SIR Phase 1 Gym in Matina. PSC Commissioner Charles Raymond Maxey, who graced the brief opening program, said they are happy to hold a barangay-based summer sports program for children. “It is the mandate of President Rodrigo Duterte to provide opportunities and bring sports to the barangays through clinics and tournaments,” Maxey said. PSC Coordinator Melchor Anzures, coach of the Davao Aguilas Football Club (FC), supervised the clinic supported by the Davao South Regional Football Association, Football for Humanity and Maharlika Sports Foundation Inc. in cooperation with the Barangay 76-A officials led by Barangay Chairman Rolando Trajera. After the clinic, Anzures said they will conduct a two-day tournament on May 22 and 23, while the juggling and accuracy competition is set on May 24. The awarding and closing ceremonies are expected to be graced by PSC Chairman William “Butch” Ramirez as keynote speaker on May 25.

added. “That was basically what it came down to. I mean, I had an unbelievable amateur career, and I don’t mean that in terms of results, but I mean that in the experiences I had and the trips that I had and the friendships that I made and the friendships that I still have to this day. That was all because of playing for Ireland and getting close to some of those guys. “I’m excited to be going to the Olympics. I’m excited to play for Ireland,” McIlroy said. McIlroy also is thrilled because Neil Manchip is the Irish national coach. He was the national coach when McIlroy was first selected to play for Ireland, and he also is excited at the prospect of playing with some of his former teammates. AP

SERENA WITHDRAWS WITH INJURED KNEE OME—Serena Williams withdrew from the Italian Open on Tuesday ahead of her second-round match against sister Venus because of a previously injured left knee. Tournament organizers made the announcement a day after Serena opened her clay-court season with a straight-sets win over Swedish qualifier Rebecca Peterson. “I must withdraw from the Italian Open due to pain in my left knee,” Serena said, according to the Women’s Tennis Association web site. “I will miss the fans and competition at one of my favorite tournaments. I’ll be concentrating on

HAMPION rider Ariana Dormitorio hopes to score a twin kill in the second half of the year. The charming 22-year-old is seeking to earn an outright berth to the 2020 Tokyo Olympics when she competes in the Asian Mountain Bike Continental Championships in Lebanon, before she caps 2019 by going for the gold in her first ever stint in the Southeast Asian Games to be held in the country. “This will be a very crucial year because all of the things that we’ve really worked hard for, this is it, the final stretch to get there. We’re really looking forward to the Olympic qualifying, and especially the SEA Games because it’s going to be the first in my whole career,” said Dormitorio, who made her first ever appearance in the Philippine Sportswriters Association Forum on Tuesday at the Amelie Hotel-Manila. First in her bucket list is the Olympic qualifier in Lebanon from July 25 to 28 where winning the gold medal will earn her a slot as the first Filipina cyclist to compete in the Summer Games. Dormitorio will be up against the same riders from the continent whom she faced during the Asian Games last year in Indonesia. The Filipina was favored to win the gold in mountain bike, but suffered a crash in the second lap of the five-lap race to bow out of contention. The three-time former Asian Mountain Bike Series champion knows it won’t be easy, but actually likes her chances based on the way she raced in the Asian Games against top riders from China, Japan, Iran and Kazakhstan. “I was able to compete against those top athletes, and to be honest, I was surprised with how my race went before I crashed,” she said in the session presented by San Miguel Corp., Braska Restaurant, and the Philippine Amusement and

advances into the third round via a walkover. At 37 and with 20 Grand Slam titles, Roger Federer, meanwhile, still gets excited about playing tennis. That’s why he added this week’s Italian Open to his schedule. “I was in the mood to play,” Federer said on Tuesday after a practice session on the Foro Italico’s Campo Centrale. “Would I rather practice or play matches?... There would be excitement, more excitement than me coming to a practice court in Switzerland. “Honestly, I love to play matches. thorough assessment of the many complexities involved in this area.” The NCAA said a final report from the working group is due to the Board of Governors in October. NCAA rules forbid athletes in most circumstances from receiving benefits or compensation for their names, images and likenesses from a school or outside source. For example, college athletes cannot take part in

IT’S the third straight event that the 37-year-old Serena Williams has exited from due to physical problems. AP

Regardless of what happens here, I just think it’s good for me to play matches at this stage,” Federer added. After reaching the Madrid Open quarterfinals last week upon his return to clay after a two-year absence, Federer went to Switzerland. He said the cool weather at home also convinced him to make the trip to Rome. “I felt like playing somewhat maybe more sealevel conditions would be good for me,” Federer said. Federer begins play on Wednesday against 75th-ranked Joao Sousa, who saved four match commercial advertising or sign autographs for money—which infamously got Heisman Trophy winner Johnny Manziel into trouble with the NCAA in 2013. “While the formation of this group is an important step to confirming what we believe as an association, the group’s work will not result in paying students as employees,” Smith said. “That structure is contrary to the NCAA’s educational

points before beating Frances Tiafoe, 6-3, 6-7 (3), 7-6 (4), on Tuesday. Federer is in the same half of the draw as eight-time Rome champion Rafael Nadal. “I’m so far away in the draw,” Federer said of a possible semifinal matchup with his longtime rival. “I have other problems first getting there.” Federer is a four-time runner-up at the Italian Open, which he’s never won, making it one of the few significant trophies he hasn’t claimed. Federer is preparing for the French Open, which starts in less than two weeks. AP mission and will not be a part of this discussion.” The NCAA’s amateurism rules have faced several legal challenges in recent years and threats from lawmakers. A federal antitrust lawsuit brought by former UCLA basketball star Ed O’Bannon in 2009 challenged the NCAA and its member schools’ right to use athletes’ names, images and likenesses without compensation. AP

orts

sMirror

ATENEO’S Bea de Leon breaks the defense put up by University of Santo Tomas’s Kecelyn Galdones and Ysabel Jamie Jimenez. ROY DOMINGO

Thursday, May 16, 2019 C3

ATENEO FORCES GAME 3 By Ramon Rafael Bonilla

A

Blue Eagles-Green Archers football final at Rizal pitch

F

IERCE rivals Ateneo and De La Salle dispute the University Athletic Association of the Philippines Season 81 men’s football championship on Thursday at the Rizal Memorial Stadium. The one-game final is set at 4:30 p.m. Both teams have met four times in the Finals since 1996, and the Blue Eagles and the Green Archers are level at 2-2. Their most recent showdown was in 2006 at the PhilSports pitch, with Ateneo winning 1-0 on Roger Lastimado’s late goal. Foiled by Far Eastern University (FEU) in the 2015 final, De La Salle hopes to end a long, 21-year championship drought. The Green Archers ruled the league in 1998,

winning the do-or-die match against the Blue Eagles, 5-1, for their fourth title. Coach Alvin Ocampo hopes that his upstart De La Salle will leave everything on the pitch to fulfill what their predecessors have failed to do. “Like what [former goalkeeper] Patrick Deyto said, ‘They have to shut up coach Alvin because every time we talk about championships, it’s always the 1998 batch that we talk about,’” Ocampo said. The rookies were instrumental in steering the Green Archers deep into the tournament. Xavi Zubiri led De La Salle’s 1-0 win over the Tamaraws in the final elimination match day, while Jovan Marfiga and Shanden Vergara gave

the Archers a 2-1 victory over University of the Philippines in the semifinal, ending the Fighting Maroons’ reign. “I think it’s high time we talk about the new batch, the new generation,” said Ocampo, a former top national team defender. Ateneo ace striker Jarvey Gayoso, Ocampo’s nephew who has 11 goals this season, has high respects on what De La Salle can do. “They are a very young team and hopefully, we will rely on our experience being in the Finals,” said Gayoso, who is seeking to power the Eagles to their eighth title. In the women’s division, De La Salle and FEU, tied for the most number of championships with 10, go for all the marbles at 2 p.m.

TENEO foiled a University of Santo Tomas (UST) side’s bid for a championship sweep by fashioning out a 26-24, 14-25, 25-21, 25-15 victory in Game Three that exposed the Blue Eagles’ real strength and the Golden Tigresses’ weakness in the University Athletic Association of the Philippines Season 81 women’s volleyball Finals on Wednesday at the Mall of Asia Arena in Pasay City. Thanks largely to the solid play of veterans Maddie Madayag and Bea de Leon, the Season 76 and 77 champions denied the Golden Tigresses the short route to the title and arranged a winner-take-all Game Three on Saturday. Madayag topscored with 17 points off 10 attacks, four blocks and three service aces, while fellow graduating spiker de Leon chipped in 13 points to gift Ateneo a clear shot of clinching its third overall title. Learning their lessons from a painful 17-25, 16-25, 20-25 setback in Game One, Madayag said the team put that bad memory behind and remained positive in Game Two. “Sometimes the result of Game One crosses our minds but we had to let go of our emotions,” she said. “Of course, we will fight until the end because this is a chance given to us.” De Leon, who worked hand in hand with Madayag in the fiery fourth set where they protected a 12 point cushion to the finish, agreed. “As the captain, I just really wanted to gather them and remind them how we prepared hard for this. So I reminded them

of the sacrifices we made just to reach this point,” de Leon said. UST was in complete disarray in the opening set with 13 errors, but sprung to a 7-0 run late in the second set to knot the count at 1-1. Until the third set when UST’s weakness was exposed. Rookie of the Year Eya Laure landed badly and rolled in pain while holding her left ankle. She was carried out of the playing court by her dad Eddie Laure who rushed to his daughter from his courtside seat. That injury was costly as the Tigresses lost heart and relied solely on Most Valuable Player (MVP) Sisi Rondina’s offense. Laure did come back in the fourth set but she played in pain and cried when UST Coach Kungfu Reyes pulled her out. Reyes’s gamble to play his injured star rookie could go down as one of the more debatable situations in local volleyball. It didn’t help that Madayag and de Leon caught fire in the fourth set, with de Leon’s block sending her team to a commanding 20-18 lead that they safely secured to the end. The Lady Eagles drew 11 points from Kat Tolentino, while Dani Ravena contributed 22 excellent digs and 12 excellent receptions Rondina led UST with 22 points off 18 attacks, three blocks and an ace. Laure tallied 10 points. Earlier, National University got tons of help from Bryan Bagunas to maul Far Eastern University, 24-26, 25-23, 25-23, 25-19, and clinch its second straight men’s title. Bagunas scattered a career-high 35 points off 33 spikes to add the Finals MVP trophy to his season MVP award.

IKEDA AHEAD WITH 70 C

PHILIPPINE Sports Commission (PSC) Commissioner Charles Raymond Maxey (second from left) leads the launch of the Barangay 76-A Summer Futsal Clinic in Matina, Davao City.

Superliga beach volley tourney gets going sans reigning champ Rondina

W

ITH the University Athletic Association of the Philippines Finals still in full swing, Sisi Rondina will not be around to defend her title when the Philippine Superliga Beach Volleyball Challenge Cup fires off at the Capitol Beach Front on Thursday in Lingayen, Pangasinan. Two-time champion Petron will miss the services of the University of Santo Tomas star, but Bernadeth Pons will still be around and will team up with Floremel Rodriguez, a seasoned beach volley campaigner who once ruled the Cebu Schools Athletic Foundation Inc. while playing for Southwestern University. Tipped to give the Blaze Spikers a tough time are their bitter rivals in F2 Logistics and Generika-Ayala A, as well as PLDT Home Fibr A, UVC A and Sta. Lucia Splendido. Michelle Morente and Fritz Gallenero will represent the Cargo Movers, while Patty Orendain and Fiola Ceballos, who gave Rondina and Pons a tough

time in the 2017 edition, will banner the Lifesavers. Former National Collegiate Athletic Association Most Valuable Player Gretchel Soltones and Shola Alvarez will don the colors of PLDT Home Fibr A, while veteran beach volley bidder Bang Pineda and Jinggay Bangad, as well as Jackie Estoquia and Dhanylaine Demontano will suit up for Sta. Lucia Splendido. Also part of the 15-team women’s field are Pangasinan Teams A and B, Cignal Teams A and B, Sta. Lucia Aquamira, PLDT Home Fibr B, Petron-UST, Generika-Ayala B and UVC B. In the men’s side, Philippine Army and Philippine National Police will test the mettle of Pangasinan, Cignal, Volleyball Never Stops, Emilio Aguinaldo College, University of Perpetual Help and Foton. A celebrity match between Team Rachel of Rachel Anne Daquis and Team Amanda of Amanda Villanueva is set before the finals on Saturday.

HIHIRO IKEDA snapped a long run of poor form with a two-under 70 in sweltering heat in Tagaytay City on Wednesday as she seized a one-stroke lead over amateur Eagle Ace Superal and Thai pro Tiranan Yoopan at the start of the International Container Terminal Services Inc. (ICTSI) Tagaytay Midlands at the Midlands layout. The power-hitting multi-titled Ikeda, who went on a slump with a slight hand injury after ruling the Eagle Ridge leg of the Ladies Philippine Golf Tour (LPGT) early last year, used a combination of solid driving and iron play, and steady putting though a late-hole stumble marred what could’ve been a superb start for the former Southeast Asian Games gold medalist. But finishing with a 70 in hot conditions and finding herself in the lead were enough to make her day. “I’m so exhausted, it was so hot out there,” said Ikeda, who birdied Nos. 6 and 9 from close range then drilled in an 8-foot side-hiller on the 16th storm ahead. She, however, missed the 17th green and hit a poor chip shot for the lone black mark in an otherwise impressive 34-36 card under preferred lies rules. “I’m just glad to be in the lead,” she added. “I was doing pretty well in the morning but when we reached the turn, it got nasty and I had to literally huff and puff for every shot.” The way the rest did to survive the challenge in the early going of the P750,000 event serving as the ninth leg of the seventh LPGT season with Superal charging back from a double-bogey start to join Yoopan at second at 71; Thai Onkanok Soisuwan and Daniella Uy matching par 72s; and former leg winner Saruttaya Ngam-usawan, also of Thailand, Pauline del Rosario, Lucy

S

Santos City, Kidapawan, Ozamiz and Tangub, Misamis Occidental legs of the PPS-PEPP circuit. The Salug, Zamboanga del Norte, ace then took a rest the last few weeks to toughen up before sweeping her way to a 6-3, 6-1 victory over doubles partner Judy Ann Padilla in 16-under play at the Oroquieta Lawn Tennis Association courts. The recent Palarong Pambansa champ sustained her form in the premier division,

Landicho, who ruled Tuesday’s pro-am with Carlos Tuason, Nemi Pagtakhan and Leomax Reyes, missed joining Soisuwan and Uy at fourth with bogeys in the last two holes, while Mariano birdied the last hole to keep Superal within sight in their battle for low amateur honors.

CHIHIRO IKEDA bucks a sweltering heat to grab a one-stroke lead.

BULLDOGS VS. GENERALS IN FILOIL TILT

N

ATIONAL University (NU) shoots for its second win in the Filoil Flying V Preseason Cup when the Bulldogs take on the Emilio Aguinaldo College (EAC) Generals on Thursday at the Filoil Flying V Centre in San Juan. The Bulldogs and Generals square off at 2:30 p.m. right after Mapua (0-3) faces Arellano University (0-1) at 12:45 p.m. NU is fresh from a come-from-behind win over Far Eastern University (FEU) on Tuesday and

Enriquez sparkles in Oroquieta YDNEY ENRIQUEZ came out of a monthlong break in style, fashioning out two lopsided victories to share Most Valuable Player (MVP) honors with local bet Nash Agustines in the Palawan PawnshopPalawan Express Pera Padala (PPS-PEPP) Oroquieta national age-group tennis tournament in Misamis Occidental recently. Enriquez, 16, dominated her age bracket and the 18-under category in the General

Landicho and amateur Pamela Mariano turning in identical 74s. Superal of Team The Country Club, who placed third in last week’s Asia-Pacific Junior Championship in Singapore whose sister Princess ruled this event in record fashion (16 strokes) last year, recovered from that shaky start with three birdies in the last five holes, including the par-5 Nos. 16 and 18. Due for a big win, Yoopan failed to sustain a birdie-birdie feat from No. 6 and dropped a stroke on the eighth before settling for a run of pars as she kept her bid for a breakthrough victory in the circuit put up by ICTSI and organized by Pilipinas Golf Tournaments Inc. “My driving and short game were okay but I couldn’t get a good read of the greens at the back,” said Yoopan. Uy holed out with a birdie on the 18th to salvage a 72 and tie Soisuwan, a runaway winner at Mount Malarayat leg last year, at 72 while Ngam-Usawan hit back-to-back birdies from No. 16 to save a 74 for joint sixth with del Rosario, Landicho and Mariano. Del Rosario, installed as the top favorite here following her 14-shot victory at Royal Northwoods where Ikeda placed joint fifth last month, birdied No. 4 from close range but struggled the rest of the way, yielding strokes on Nos. 5, 9 and 15 to fall four strokes behind Ikeda with 36 holes left. “There’s a lot of work to be done tomorrow [Thursday]. I have to play it smart and not be too aggressive,” said del Rosario, who is set to leave for the US after the event to resume her buildup for the LPGA Tour Q-School in August.

dropping just five games, including a 6-1, 6-2 romp over Alessandra Quimbo to clinch the crown in the Group 2 tournament presented by Dunlop. She and Padilla later bagged the 18-under doubles plum in the country’s biggest, long-running talent-search sanctioned by the Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-Meg, crushing Carmel Padilla and Angel Repaja, 8-2.

is looking to build momentum in the summer tournament behind Dave Ildefonso, John Lloyd Clemente, Chino Mosqueda and Issa Gaye, who were instrumental in the win over the Tamaraws. EAC is rebuilding under new Head Coach Oliver Bunyi. The Generals stuck close to the Adamson University for the first 23 minutes before folding to a more superior Soaring Falcons, 89-65. The Generals are counting on Marwin Taywan, JP Maguliano and newcomer JP Boffa, an undersized forward-center, in the match. Mapua has a strong and deep local crew but had the misfortune of playing a Centro Escolar University (CEU) team with a tall center, Maodo Diouf, to turn back their inside sorties then faced San Beda minus three key players after which they lost to De La Salle with a more or less complete lineup. Unlike last season when the Cardinals went 4-0 to start the tourney, this year, they are struggling. They will have their hands full against the rebuilding Chiefs that still has a few hands from their last finals finish three seasons ago in comebacking Kent Salado, Rence Alcoriza and Archie Concepcion. They do have former University of Santo

Tomas (UST) forward Justin Araña and former San Sebastian Stag Alfren Gayosa to help out. Named to the best five of the seniors division after the first week of play were De La Salle’s Andrei Caracut, San Beda’s Donald Tankoua, Lyceum’s JC Marcelino, CEU’s Maodo Diouf and Adamson University rookie Aaron Fermin. The defensive player of the week went to UST’s Soulemane Chabi Yo. Ateneo faces San Beda at 11 a.m. while a Mapua tackles Lyceum at 4:15 p.m. in juniors play. Named to the juniors division best five of the week were FEU’s Kyle Bautista, San Beda’s Justine Sanchez, Perpetual Help’s Emman Galman, Lyceum’s John Barba and Ateneo’s Forthsky Padrigao. FEU’s Cholo Anonuevo was named defensive player of the week. In 11-Under Division, undefeated Xavier (3-0) goes up against San Sebastian at 8 a.m., Marist battles San Beda at 9 a.m. and De La Salle Zobel meets Colegio De San Benildo at 10 a.m. Xavier’ Rambert Lagar, Don Bosco’s Rolindo Sy, Colegio De San Benildo’s James Macale, De La Salle Zobel’s Matthew Arabon and San Beda’s Carl Songco were the best juniors for the week. Lagar was also named best defensive player. Rick Olivares

TESSA JAZMINES tessa4347@gmail.com

PART OF THE GAME

Collin and Ticha

AFTER four months, Jr. NBA Philippines 2019 presented by Alaska has reached its peak moment: the National Training Camp where the newest batch of Jr. NBA All-Stars will be selected. The new finds from among talented 10 to 14 year old boys and girls from all over the country will follow the footsteps of illustrious previous All-Stars that include Kiefer and Thirdy Ravena, Aljon Mariano, Kobe Paras, Ricci Rivero, Kib Montalbo, Aljun Melecio and Kai Sotto, among others. The 2019 all-free grassroots development program of the National Basketball Association tipped off in early February and reached out to boy and girl ballers in North Luzon, South Luzon, Visayas, Mindanao and the National Capitalist Region, identifying the outstanding players in those areas. This weekend, the best from the regions will compete with each other and those selected from the Alaska Power Camp for the honor of being hailed as the new All-Stars. On Sunday, May 19, as many as five boys and five girls will enjoy a perk and honor no other batch has yet experienced before. For the first time in the history of the Jr. NBA program, the 2019 All-Stars will compete in the first Jr. NBA Global Championship Asia Pacific Selection Camp, a weeklong camp where they will face top youth players from North Asia, Southeast Asia and the Pacific region in June. The Asia Pacific regional competition will provide the 2019 batch of Jr. NBA All-Stars the opportunity to represent the region in the Jr. NBA Global Championship that will be held from August 6 to 11 at ESPN Wide World of Sports Complex at Walt Disney World near Orlando, Florida. The international event will feature talented youth from the United States, Canada, Latin America, Europe, the Middle East, China, Mexico, Africa, India and the Asia-Pacific. Every year since 2010, the National Training Camp has been graced by the presence of NBA talents who join the Jr. NBA coaching staff in training and selecting the top 5 boys and five girls from the 80 finalists who will be named 2019 Jr. NBA Philippines All-Stars. They will serve as assistant coaches for the annual Jr. NBA Alumni All-Star Game. This year Collin Sexton of the Cleveland Cavaliers and WNBA legend Ticha Penicheiro are in Manila to help coach the top youth players at the training camp that will be held at the Don Bosco Technical Institute on May 18 and at the SM Mall of Asia Music Hall on May 19. Sexton, was selected eighth overall in the 2018 NBA Draft and averaged 16.6 points, three rebounds, and 2.8 assists per game with the Cavs this season. Before turning pro he was an NCAA star who played for Alabama, and probably best remembered for how he kept Alabama’s NCAA Tournament hopes alive in March 2018 by driving coast-tocoast in four seconds to drain the buzzer-beating bucket and top Texas A&M in the SEC Tournament. He started playing basketball when he was just three years old and grew up to be a high-school star. He spent only one season in college, but always rose to the occasion. In an out-of-conference match-up with fellow NCAA star Trae Young, Sexton scored 18 points and notched the victory for Crimson Tide. Later that season he scored 31 points in the SEC Tournament Semifinals as Alabama defeated Virginia Tech in the opening round of the NCAA Tournament. A two-way player who can be both leading scorer and defensive brute, Collin Sexton’s nickname is “Young Bull.” He’s proud of it and invites you to “watch me play and you’ll understand why.” “I’m excited to work with aspiring young athletes and help contribute to their basketball development,” said Sexton. “The Jr. NBA is a perfect program for them to learn essential skills and values that will help elevate their game.” Meanwhile, Penicheiro who was drafted second overall by the Sacramento Monarchs in the 1998 WNBA Draft, is a WNBA Champion and a four-time WNBA All-Star. She is one of the WNBA’s Top 15 Players of All Time and will be enshrined as part of the 2019 class of the Women’s Basketball Hall of Fame this June. She spent 15 seasons in the WNBA with the Sacramento Monarchs, Los Angeles Sparks and Chicago Sky, and is considered one of the best point guards in WNBA history. She is a certified leader on court with a flashy passing ability. Her high point in the WNBA was in 2005 when the Monarchs won the title. She was no prolific scorer, but her genius lay in being “the consummate setup artist.” A piece about her says she “saw the court the way that a great conductor sees the music on the page: as something that is both concrete and certain, yet also abstract and subject to interpretation.” She understood the gritty, down to earth aspects of the sport. She thrived in setting screens, slipping away from them, mastered the art of maximizing or cutting down passing angles, knew how to execute the science of the game with both art and force. “Jr. NBA continues to be an inclusive platform for boys and girls, encouraging sports participation and instilling an active and healthy lifestyle among the Filipino youth,” said Penicheiro. “I’m grateful for the opportunity to nurture their holistic growth and put them in a position to succeed in basketball and in life.” Collin and Ticha will be at the SM Mall of Asia Music Hall on Sunday. Come on down and see these two outstanding NBA/WNBA talents in the flesh. And find out who will be the newest Jr. NBA All-Stars.

ECUADOR RIDER RULES STAGE 4 Sports BusinessMirror

F

RASCATI, Italy—Richard Carapaz of Ecuador sprinted to victory on the fourth stage of the Giro d’Italia on Tuesday, while Slovenian cyclist Primoz Roglic extended his overall lead after avoiding a crash toward the end of the route. Carapaz, who rides for Movistar, launched his sprint early and held off Caleb Ewan and Diego Ulissi on the uphill finish at the end of the undulating 235-kilometer route from Orbetello to Frascati. Roglic was the only major favorite to avoid a crash which split the peloton inside the final 6 km and he finished two seconds behind Carapaz. “I didn’t expect to win today,” Carapaz said. “Our plan was just to protect Mikel Landa to not lose time but a crash at the end changed everything. I was up against sprinters for the stage win so I had to anticipate their action. The moment I chose to attack was perfect.” British cyclist Simon Yates and home favorite Vincenzo Nibali, who were second and third in the standings respectively, were caught up and finished 16 seconds behind Roglic. The Jumbo-Visma cyclist has worn the leader’s pink jersey since winning the opening time trial on Saturday and extended his lead to 35 seconds ahead of Yates and 39 ahead of Nibali, who won the race in 2013 and 2016. “I wanted to gain important seconds,” Roglic said. “I was in the group that was ahead and I didn’t see the crash. Everyone tried to be among the first group, but instead some remained delayed by the crash. Those are things that happen in cycling. Nibali and Yates are very strong, but there could be other riders who come up suddenly and you don’t expect them, or crashes which shake up the general classification.” The only other previous winner of the Giro competing in this year’s race is 2017 champion Tom Dumoulin and he fared even worse. Dumoulin, who also finished runner-up to Chris Froome last year, went down in the crash and he eventually crossed the line more than four minutes behind Roglic, with blood pouring down his left leg. The Dutch cyclist was taken to hospital, where x-rays ruled out a serious injury. But Dumoulin said his chances of a repeat Giro victory are over. “There are no fractures, which is good but my knee is very swollen,” Dumoulin said. “I wasn’t able to push any power in the last few kilometers so I don’t know how I will be tomorrow; the GC [general classification] is for sure gone.” Thursday’s fifth stage is a mainly flat 140-km route from Frascati to Terracina. The Giro finishes in Verona on June 2. AP

C4

| Thursday, May 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ECUADOR’S Richard Carapaz receives the kiss of the race’s hostesses on the podium as Dutch cyclist Tom Dumoulin’s left leg is covered with blood following a crash. AP

SHERPA SCALES EVEREST FOR RECORD 23RD TIME

KAMI RITA breaks his own record for the most successful ascents of the world’s highest peak. AP

K

ATHMANDU, Nepal—Sherpa climber Kami Rita scaled Mount Everest on Wednesday for a 23rd time, breaking his own record for the most successful ascents of the world’s highest peak. Rita reached the summit with other climbers on Wednesday morning and all of them were reported to be safe, said Gyanendra Shrestha, a Nepalese government official at the mountain’s base camp. Rita’s two closest peers have climbed the 8,850-meter (29,035-foot) peak 21 times each, but both of them have retired from mountain climbing. “It is my profession, but, at the same time, I am setting new world record for Nepal, too,” Rita told The Associated Press last month before heading to the mountain. Rita, 49, first scaled Everest in 1994 and has been making the trip nearly every year since, one of many Sherpa guides whose expertise and skills are vital to the safety and success of the hundreds of climbers who head to Nepal each year seeking to stand on top of the world. His father was among the first Sherpa guides employed to help climbers reach the summit, and Rita followed in his footsteps and then some. In addition to his nearly two dozen summits of Everest, Rita has scaled several other peaks that are among the world’s highest, including K-2, Cho-Oyu, Manaslu and Lhotse. Rita was at Everest’s base camp in 2015 when an avalanche swept through, killing 19 people. After that tragedy, he came under intense family pressure to quit mountaineering altogether, but in the end decided against it. “I know Mount Everest very well, having climbed it 22 times, but, at the same time, I

know I may or may not come back,” he told AP last month. “I am like a soldier who leaves behind their wives, children and family to battle for the pride of the country.” Rita has been an advocate for other Sherpa guides, who he said do not get the recognition they are due. He said that before climbers reach the summit to take their photographs announcing their success, there are months of hard work done by Sherpas. The Sherpas are the ones who take care of setting up the camps, carrying the loads on their backs, cooking food and carrying oxygen tanks.

Perhaps most important, it is Sherpas who each year fix ropes and ladders over crevasses and icefalls that make things safer for the hundreds of climbers who will follow them. “However, when these climbers reach the summit, only their names are highlighted and nothing mentioned about the hard work done by the Sherpas,” Rita said last month. Sherpa tribespeople were mostly yak herders and traders living deep within the Himalayas until Nepal opened its borders in the 1950s. Their stamina and familiarity with the mountains quickly made them soughtafter guides and porters.

On Tuesday, it was a team of Sherpa guides who again were the first to reach Everest’s summit this year, completing their advanced work of setting up ropes and lines. There are 41 different teams with a total of 378 climbers who have been permitted to scale Everest during this year’s spring climbing season. There are an equal number of Nepalese guides helping them to get to the summit. Each May, there are usually only a few windows of good weather near the summit during which climbers can attempt to scale the peak. AP

Frenchman dominates third stage in California

M

ORGAN HILL, California—Remi Cavagna began his post-race news conference by apologizing for his heavily accented English. He should have apologized to the field for his powerful legs. The Frenchman decimated the peloton with an audacious solo breakaway to win Stage 3 of the Tour of California on Tuesday. He was so far clear of the field—more than seven minutes by the finish—that he had toweled off and recovered by the time the rest of them crossed the line. “Today was really hard. It was a long day,” he said. “But we go the maximum we can and I could go on the climb to the end. But it was really hard. I’m really happy.” So was American rider Tejay van Garderen, who was able to easily protect the leader’s yellow jersey in part because the peloton was so far behind that nobody was willing to push the tempo. In essence, they simply allowed Cavagna to roll to the win. “It was really important for the team, for us to win here,” said Cavagna, whose Deceuninck-Quick Step team is sponsored by Specialized, a bike-maker based in the finishing town of Morgan Hill. The third stage took riders 129 miles from Stockton, and Cavagna broke away early with 21-year-old Alex Hoehn of the US national team. The two of them quickly built a sizeable gap on a peloton that was content to take it easy after a brutal ride on Monday to South Lake Tahoe. “It was an extremely hard stage today,” Hoehn said. “I feel fine now. I was really messed up after the race. I probably had a few too many caffeinated gels. It’s all they kept giving me. I kept asking for solid food and they kept giving me gels. But no, I’m better now. The stage was really hard.”

It was on Mount Hamilton that the 23-year-old Cavagna finally rode away from Hoehn, and then he managed a tricky descent before the flat run-in to the finish. Cavagna got into an aerodynamic tuck and cruised the rest of the way, punching a fist as he crossed the finish line. That gave his team back-to-back stage wins after Kasper Asgreen was victorious on Monday. The real drama was for second place. Hoehn, making his Tour of California debut, earned the King of the Mountains jersey before he was caught by Simon Geschke and Ben King. The two of them kept the rest of the peloton at bay to set up their own sprint finish, and King swung out from behind Geschke to take second for Dimension Data. Asgreen won the field sprint for fourth to hold onto his green jersey, and van Garderen was hardly out of breath after a perfect day by his EF Education First team to protect his leader’s jersey. Van Garderen has a six-second advantage over Gianni Moscon. Hoehn wound up being the hero of the day, though. His gutsy ride at the front of the pack made him plenty of fans, and he had some special ones waiting at the finish line—his family had flown in from his home near Kansas City earlier in the day to watch the stage unfold. “I couldn’t ask for a better gift. It’s amazing that they are here,” he said. “I knew they were coming today and I didn’t really expect this. When I was alone, I was thinking of them, and that’s what kept me going through a lot of the day.” The fourth stage on the weeklong road to Pasadena begins at Raceway Laguna Seca and takes riders on a visually stunning 138-mile ride along the Big Sur coast to Morro Bay. AP

D

Loving God

EAR God, You draw near to the broken hearted and desperate. In faith and hope we pray: Love us, oh God, as we wait for You. Put a word of praise on our lips and a spirit of gratitude in our hearts. Comfort those who grieve and mourn for the loss of loved ones. Restore wholeness and hope in those long suffering. Gladden the hearts of those whose love are reciprocated with same kind of goodness and faithfulness in their relationships. May God purify our hearts and minds in Christ Jesus, by the steadfast power of the Holy Spirit. Amen. GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

REELING: THE NIGHT AFTER MOTHER’S DAY, WE CALLED MOTHERS WHORES D4

Thursday, May 16, 2019

D1

Traveling through clouds of cherry blossoms sTOry & PhOTOs By cArLO A. ATienZA

I

WOKE up from my stupor and saw through the airplane window the dance of blue, purple and gray across the dusky sky. It was my first time going to Japan via Fukuoka and for a moment, I repressed feelings of anxiety and apprehension that welled up threatening to overpower my wonder and excitement for a country that I have only read about but not visited. Until now. The moment I saw the coast, I knew we were near Japan. Buildings seemed to have aligned themselves perfectly and were spaced consistently, you knew that everything was deliberately planned. As our Cebu Pacific Airbus descended, I could see unfamiliar signages and I was overcome with feelings of dread and regret for not learning at least some phrases of the language. Too late for that now. I gathered my things and waited to deplane. The first thing that greeted me was the burst of ice-cold air that seemed to seep through my clothes. I zipped up my down jacket, a gift from a loved one, to ward off the cold but I was too late. The cold seemed to have decided to linger like an uninvited guest. And so I pulled on a beanie and wrapped a scarf around my neck in my hurried attempt to stifle the cold. For a time it worked but my body, which was used to the warm and humid air of Manila, protested futilely against the 8°C weather in Fukuoka, Japan. I defiantly held my head up struggling to enjoy the chilly air against my face, which by now has turned a rosy pink—side effects of my rebellion against the frigid air. We hailed a taxi going to the apartment where we were staying. The first thing you will notice about taxis in Japan is that they look like vintage cars. A well-maintained vintage car with immaculately white seat covers with an accompanying driver dressed like a chauffeur. While some of them speak a bit of English, most of the taxi drivers have limited English vocabulary. What helped us immensely was

the Google Translator app on our mobile phones. We typed in our phones where we were headed and the app translated it for the driver. Even if the driver was convivial and very accommodating, I was still hesitant to trust him so I fired up Google Maps to see if we were going in the right direction. And we were. We were advised to rent a pocket Wi-Fi from the airport for the duration of our trip, and it proved to be helpful on more than one occasion when we got lost. We stayed at an apartment near the harbor. We were on the top floor which had a small balcony overlooking the water where we could also see the boats go in and out of the wharf. There was one evening when we were drinking sake overlooking the dock when several night birds swooped in the water and probably caught fish. In the morning, we discovered there were ducks that lived near the pier and they were probably the birds hunting the night before. It is still a wonder to me how those ducks could keep warm in the freezing waters. Probably the same way my down jacket was keeping me warm. The morning after we arrived, I thought the cold would get better. It did—by just a degree centigrade. But I was not complaining. A warm shower, hot coffee, and hearty breakfast perked me up for the adventures of the day. We signed up to be part of the traditional shopping tour which promised to be a good start of our Japan adventure. We made our way to Hakata Station to meet our guide and we were pleasantly surprised that there were just three of us on the tour, which made it more intimate and relaxed. We went to Rakusuien Park where I had my first close encounter with a cherry blossom tree. The sepals were light pink and paper-thin delicate. I was amazed that the entire tree was covered in these exquisite flowers, which flew off like butterflies with the gentle whisper of the wind. After our up-close cherry blossom experience, we went to Sumiyoshi Shrine—a Shinto temple. Our

guide showed us that before we entered we had to cleanse ourselves by washing our hands and face, and gargle before entering the shrine. Shintoism is the traditional religion of Japan and focuses on the “kami,” or the spirit that permeates everything. They have a multitude of gods so you can see various shrines of different deities within the shrine. But what was noticeable within the shrine was the palpable calm and the feeling that everything was right in the world. The Japanese has perfected the art of juxtaposing the old and the new without compromising either one. You have a better appreciation of where you are now without losing sight of where you have been. We still could not get enough of the cherry blossoms so after the tour, we made our way to the Maizuru Park, or more popularly known as the Fukuoka Castle Ruins. The grounds were lined with cherry blossom trees and everywhere you look, people were taking selfies with these magnificent trees. The castle ruins itself took us all the way to feudal Japan as we walked through the castle gate and walked along its towering walls. For a relatively small country, you have to give it to the Japanese for having lots of open spaces. We decided to take the bus going back to Hakata station and hunt for the world-famous ramen noodles. A trip to Japan will not be complete without eating ramen especially when you are in Fukuoka, the ramen capital of the world, or so they say. And it did not disappoint. The warm bowl of ramen after a long day of walking around the city was the perfect way to cap the day. The next day, we decided to rent kimonos and get acquainted with the train system. We thought we were going to have a river tour with the kimono rental but instead of going to the Yanagawa branch where there was a river tour included, we went to the Futsukaichi branch. Not to be disappointed, the store attendant suggested we go to a nearby tourist attraction—the Dazaifu Tenmangu Shrine, which turned out better than what we expected. There

were more cherry blossom trees, the next one more majestic than the other. So there I was in my kimono, looking like I belonged to the place, and falling more and more in love with the Japanese culture and traditions. A highlight of that trip to Japan was the visit to the Nanzoin Temple, or the Reclining Buddha, which is the largest bronze statue in the world. From the train station, you have to climb a flight of stairs that seem to serve as your pilgrimage to the great statue. I stood in awe of the sheer size of it and I cannot even begin to imagine how they could have built it at that elevation. A green patina covers the entire statue, evident of how long it has withstood weather elements and tourist alike. On the day we were flying out, we decided to go to the Nokonoshima Island Flower Park because our flight was still in the evening. We took a bus and a ferry ride to get to the island. The travel was a bit long but the ride was worth it. From a precipice overlooking the ocean to the yellow field of rapeseed blossoms (yes, that is what they are called), the experience gives a whole new meaning to the phrase “a walk in the park.” And even if it was high noon, the sun’s warmth dissipated the effects of the chilly air and if I had choice, I would have loved to stay there for a time. Time seems to have a way of slipping by when you are having a good time. And as fleeting as the cherry blossoms that fall silently to the ground, we can only remember all the beauty that life has to offer. And the images of Japan will remain with me long after I have left its grounds, for it was there my affections deepened for a love I thought I would never find. n The largest airline in the Philippines, Cebu Pacific flies nonstop to Tokyo (Narita) from Manila and Cebu. It also has direct flights from Manila to Osaka and Nagoya daily, and to Fukuoka thrice weekly. With its seat sales, discount tickets and promos, Cebu Pacific’s affordable or cheap flights to Japan make travel easy and convenient for everyone.

D2

Thursday, May 16, 2019

Entertaining BusinessMirror

Buttermilk and salt key to this crispy oven-fried chicken By America’s Test Kitchen The Associated Press

S

OAKING chicken in seasoned buttermilk guarantees that your crispy chicken will come out of the oven moist and juicy on the inside. Salt doesn’t just enhance flavor— when you soak meat in a salty solution (a brine), the salt reshapes protein molecules and helps them hold onto moisture when the meat is cooked. Buttermilk contains lactic acid, which is a mild acid that gently breaks down some proteins and makes chicken more tender. CRISPY OVEN-FRIED CHICKEN Servings: 4 Prep Time: 10 minutes Cook Time: 1 1/2 hours Prepare ingredients: 2 cups buttermilk 2 tablespoons Dijon mustard Salt and pepper 1 teaspoon garlic powder 3 pounds bone-in chicken pieces (split breasts, drumsticks and/or thighs) Vegetable oil spray 4 cups cornflakes 1 teaspoon poultry seasoning 1 teaspoon paprika Gather cooking equipment: 2 large bowls Whisk Paper towels

Plastic wrap Rimmed baking sheet Aluminum foil 2 cooling racks Large zipper-lock plastic bag Rolling pin

Instant-read thermometer Oven mitts In large bowl, whisk together buttermilk, mustard, 2 teaspoons salt, 1/2 teaspoon pepper and garlic powder.

Kitchen hacks you wish you knew sooner THE right way of heating your spaghetti with Hunt’s Pasta Sauce is to arrange into a doughnut shape before popping it into the microwave.

NOTHING is more comforting than a delicious homemade meal. Enjoying this moment every day is, however, easier said than done, since the kitchen work can demand a lot of time and effort. Lucky for us, Conagra Brands (www.conagrabrands.com) has put together six hacks designed to #FlavorYourFun and make home cooking (and even cleaning!) easier. You’d surely wish you knew these sooner. n REHEAT ME RIGHT. We all know that it’s wise to double the amount of spaghetti with Hunt’s Pasta Sauce that we cook, so we can freeze the excess and reheat for future meals. When it’s time to serve, make sure you’ve got the dish heated through by arranging the pasta into a doughnut shape before popping it into the microwave. The empty space at the center will ensure that the heat is evenly distributed. n READY-TO-BASTE. Do you often baste your fillets with fresh herbs? Save yourself some time by keeping a container of herbed Blue Bonnet Margarine cubes in your freezer. All you have to do is melt your favorite margarine in a pan, then add grated garlic, minced fresh herbs and lemon zest. Once the mixture cools down, pour it into an ice cube tray and freeze. Melt one or two of these herbed margarine cubes into a pan each time you cook. n SPRUCE UP YOUR SALADS. Get creative by swapping out the usual croutons with Act II Sweet and Salty Kettle Corn Popcorn. Other than adding crunch and flavor to your greens, the popcorn allows you to consume more fiber, too. You can also top off your soups and pastas with popcorn to help cut through the rich flavor. n LEFTOVER TRANSFORMATION. A can of Libby’s

Corned Beef could yield more hash than you can eat. Instead of throwing the leftover, use it to make a mean frittata the next day. Just crack two to three eggs into your hash, some minced veggies, season with salt and pepper, and pour the mixture into a pan to cook for five to 10 minutes. Top with cherry tomatoes. n SHAKE-SHAKE SAUCE. Before you say goodbye to the seemingly finished jar of your favorite Peter Pan Creamy Peanut Butter, throw in a few tablespoons of hot water, soy sauce, grated ginger, sesame oil, crushed garlic, rice wine vinegar and sriracha. Put the lid back on and shake and you’ve got yourself homemade satay sauce that goes well with grilled meat.

www.businessmirror.com.ph

z

Use paper towel to grasp skin on one piece of chicken, then pull off and discard skin. Repeat with remaining pieces of chicken. Add chicken to buttermilk mixture and turn to coat well. Wash your hands. Cover bowl with plastic wrap and refrigerate for at least 30 minutes or overnight. Adjust oven rack to middle position and heat oven to 400°F. Line rimmed baking sheet with aluminum foil and set cooling rack inside baking sheet. Spray rack with vegetable oil spray. Place cornflakes in large zipperlock bag. Add poultry seasoning and paprika. Seal bag and shake to combine. Use rolling pin to crush cornflakes into small pieces. Pour cornflake mixture into second large bowl. Remove one piece of chicken from buttermilk mixture, add to bowl with cornflake mixture and toss to coat. Use your hands to gently press crumbs onto all sides of chicken. Place chicken on greased rack in baking sheet. Repeat with remaining pieces of chicken. Wash your hands. Spray chicken all over with vegetable oil spray until each piece is shiny. Place baking sheet in oven and bake until chicken breasts register 165°F on instant-read thermometer and drumsticks/thighs register 175°F, 35 to 45 minutes. Use oven mitts to remove baking sheet from oven. Place baking sheet on second cooling rack and let cool for five minutes. Serve. n

Cool off with some very special ‘halo-halo’ EVERYONE is looking for ways to beat the sweltering heat this summer—and indulging in Pinoys’ favorite dessert, the famous halo-halo, definitely tops the list. With so many variations of the halo-halo available today, one version has become a favorite among Pinoys not just in Metro Manila, but in so many cities all over the Philippines, as well: the uniquely reinvented Kuya J Halo-Halo (www. kuyaj.ph). First introduced as the Kuya J Halo-Halo Espesyal, this concoction is made of milky-smooth ice topped with homemade leche flan, sprinkled with crunchy cornflakes and drizzled with sweet ube cream. It became such a hit among customers when it was introduced three years ago that the people behind dining destination were always inspired to introduce a new variant every summer, starting off with the Ube Halo-Halo Espesyal, which has rich ube ice and filled with macapuno, nata de coco, caramelized saba, ube jam and langka; followed by the Saba Halo-Halo Espesyal, which is loaded with sweet saba slices, yummy sago, and langka, and drizzled with gulaman syrup; and the new favorite, Duo Halo-Halo Espesyal, which is a delicious combo of Kuya J’s version of the classic Halo-Halo Espesyal and the rich Ube Halo-Halo Espesyal. Kuya J Halo-Halo Espesyal is the undisputed best seller in every Kuya J Restaurant. And with 108 branches nationwide, it can be said it’s the best-selling halo-halo in the country as diners constantly choose to indulge in the refreshing dessert. This halo-halo special may be a favorite dessert no matter what time of the year, but it really tastes best during the summer season.

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Megan Fox, 33; Tori Spelling, 46; Janet Jackson, 53; Pierce Brosnan, 66. HAPPY BIRTHDAY: Strive for perfection. Put your reputation and status on the line, and show everyone what you are capable of doing. You will reach your goal if you are diligent about the way you go about doing things. Don’t question others; concentrate on whatever it will take to follow through with your plans. Control ego and emotions, and avoid mistakes. Your lucky numbers are 1, 13, 19, 28, 34, 43, 47.

a

ARIES (March 21-April 19): Participate in events that are geared toward spending time with friends, relatives or peers. What you discover by working alongside others to achieve a common goal will encourage you to make personal changes to the way or where you live. HHH

b

TAURUS (April 20-May 20): Don’t settle for less or give in to someone who is trying to talk you out of your hard-earned cash or pushing you to settle for something you don’t want. Speak up, and make the changes that will make you happy. HHH

c

GEMINI (May 21-June 20): Take pride in what you do. Look for opportunities to use your skills differently. Consider a partnership carefully. Don’t give in to pressure or get involved with anyone who asks for too much. HHHHH

d

CANCER (June 21-July 22): Don’t let anger take over when you should be channeling your energy into something more constructive. If you want to make a change, look inward and make positive personal adjustments instead of trying to change someone else. HH

e

LEO (July 23-Aug. 22): Trust and believe in yourself, not someone who is looking out for his or her own interest. Put your faith and your energy into making physical changes or improving your living arrangements. Creating a peaceful environment at home will ease stress. HHHH

f

VIRGO (Aug. 23-Sept. 22): Take part in events that can help you advance or offer valuable information and knowledge. A consistent and reliable approach will help you build a strong brand. HHH

g

LIBRA (Sept. 23-Oct. 22): Share only enough information to avoid getting into trouble. Listen to offers, but negotiate on your own behalf. A change at home should be kept within budget. Do what you can before calling in paid help. A relative will offer insight. HHH

h

SCORPIO (Oct. 23-Nov. 21): Keep moving forward. Make positive changes that excite you and give you reason to follow your heart and pursue your dreams. A steady pace and a willful mind will bring you to the place you want to be. Romance is highlighted. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Don’t give in to hogwash. Don’t take an expensive detour; stay on course until you reach your destination. Put your money in a safe place, and keep your personal information well hidden. HHH

j

CAPRICORN (Dec. 22-Jan. 19): How you handle personal matters will make a difference to how well you do personally and professionally. Achieving greater stability and security will put you at ease and lead to improved relationships. Romance is on the rise. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Size up whatever situation you face, and be reluctant to put your money into something that will benefit someone else. Know your strengths and weaknesses, and focus on doing what you do best. Make fitness and health priorities. HHHHH

l

PISCES (Feb. 19-March 20): You can be optimistic without being foolish. When it comes to financial matters, stick to what you can afford, and don’t let anyone coax you into excessive situations. HHH BIRTHDAY BABY: You are engaging, proactive and sensitive. You are romantic and charming.

‘countryside’ BY MATT SKOCZEN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Agreement 5 Becoming author Michelle 10 Awfully basic concepts 14 Stink 15 ___ point (center of attention) 16 Chimney gunk 17 Delay in a Middle Eastern country? 19 Promote plentifully 20 Vote in 21 Kind of demonstration 23 Jungle ___ 24 Worry (over) 26 Entertain 28 Craze in a Balkan country? 33 Booker T. and the ___ 36 Zap, as leftovers 37 Heaven 38 Baseball count 40 Stares openmouthed 43 Fish in a can 44 Some graduate exams 46 ___-Me (Austin Powers character) 48 Nascar brand 49 Sobriquet in a South American

country? 3 Popular saying 5 54 Loving or leaving? 58 Buddhist branch 60 Paul, Italian-style 63 Musical with a redhead 64 Opera singer’s highlight 66 Perfect place in a Scandinavian country? 68 Main point 69 Take root 70 Religious group 71 Appear 72 Terse denial 73 Three, to Tomas DOWN 1 Jabs teasingly 2 Ticket price category 3 Hide in fear 4 Lost shipment inquiry 5 A lot of times, to poets 6 They’re taken on stage 7 Popular berry 8 Cocktail often served with an orchid 9 Midsize Nissan

0 Cigar dropping 1 11 Certain whiz kid 12 Use a Xerox machine 13 ___ cell research 18 “Let’s do this!” 22 Having no feeling 25 Self-satisfied 27 Caramel seasoning 29 Wanted poster letters 30 Transformed self 31 ___ It Romantic (2019 Rebel Wilson film) 32 “Now!” acronym 33 Holsteins’ sounds 34 Mountaintop figure, perhaps 35 Chinese spice named for its shape 39 Lost traction 41 Cousins and such 42 Glitch 45 Cinch 47 “That is to say...” 50 Andre of tennis 51 Sounded like a kitty 52 Frank & ___ (comic strip) 55 Beneath

6 Sister’s daughter 5 57 Body shop concerns 58 Zigs’ counterparts 59 Pennsylvania port city 61 Jared of Dallas Buyers Club 62 Wise Norse god 65 Convenience store sight, briefly 67 Congestion doc Solution to yesterday’s puzzle:

Parentlife BusinessMirror

www.businessmirror.com.ph

Thursday, May 16, 2019

D3

COMPANY COMES TO AID OF STUDENTS OFFERED JELLY SANDWICHES By JenniFer mcDermOTT The Associated Press PROVIDENCE, Rhode Island—The yogurt company Chobani plans to pay the school lunch debts of lowincome families with students attending a district that made headlines by announcing children who owe money would get cold sunflower butter and jelly sandwiches instead of a hot meal, the mayor’s office confirmed on Friday. The office of Warwick Mayor Joseph Solomon said it is coordinating with Chobani to accept nearly $50,000, the amount owed by low-income families with children in Warwick Public Schools. Chobani Founder and CEO Hamdi Ulukaya tweeted on Thursday that as a parent, the news broke his heart. Access to nutritious food should be a right, not a privilege, he said. Chobani was but one of the businesses and organizations that offered to donate money to the district, officials said. Warwick Public Schools had said it was owed $77,000 and couldn’t assume more debt, sparking a public backlash and upsetting the mayor, who asked the school committee to reconsider. It later reversed the decision. The district includes 19 schools. About 1,650 students owed money as of last Friday, and about 70 percent of those students are not enrolled in the program for free or reduced price lunches, according to the school committee. The mayor’s office is trying to plan an event to accept the donation formally, Spokesman Courtney Marciano said, and there has been an outpouring of support from across the country. School leaders are working with attorneys on a way to accept donations to help settle lunch debt, after a local restaurant owner said the district twice turned down his offer to donate $4,000, school board Chairman Karen Bachus said. Leaders are trying to find a balance between being fiscally responsible and ensuring all students get a healthy, nutritious lunch, she said. Chobani, based in Norwich, New York, said the company is also looking to donate yogurt to the schools, a spokesman said. Solomon and state Rep. Joseph Shekarchi, majority leader of the Rhode Island House, said they want to work with Chobani to bring attention to food insecurity among students nationally.

I-Parent: Stress Alert, Part I MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

T

ODAY’S parenting world has become increasingly complex. We are aware that the world our kids will “adult” in is far more competitive and demanding than how it was in our youth. So we do our best to prepare them. We find the best schools, after-school activities, sports lessons, and so on. With all these, there is also greater pressure in generating higher family income. Parents also have various everyday roles. We are husband or wife. We are the children of our parents. We are employees in our workplace. We also have social obligations to friends and our own personal causes. Depending on our resiliency and self-expectation, each of us may feel overwhelmed in performing all that is expected of us. A few months before I got married, I felt scared. I knew I was going to continue working even when I had kids. I wanted to ensure I could handle the increased responsibilities. I sought advice from a friend and was led to Noelle, a meditation teacher. He equipped me over the course of 10 years with skills on accepting our past, taking our reality as is, knowing my purpose and many more. I believe this has increased my resiliency and allowed me to handle stress in a more positive light. However, I have to admit there are still days that catch my “stress meter” off guard. Recently, I have heard more and more stories on

how negative stress has caused many psychosomatic illnesses and even cancer. It made me want to research more on it. I found a good article from the American Psychological Association (APA), titled “How Stress Affects Your Health.” Below are some of the points I found useful: 1. Stress could be both positive and negative. Positive stress is a good force that motivates us to perform well. There is also a negative stress, like when one is stuck in traffic. If this stress is prolonged over a period of time, it could become chronic. 2. When you “confront multiple challenges every day, such as meeting deadlines, paying bills and juggling childcare that make your body react the same way,” your body’s natural alarm system—the “fight or flight” response—may get stuck in the “on” position, and that can have serious consequences for your health. 3. Multiple studies have shown that these sudden emotional stresses—especially anger—can trigger heart attacks, arrhythmia and even sudden death. Although this happens mostly in people who already have heart disease, some people don’t know they have a problem until acute stress causes a heart attack or something worse. 4. Chronic, longer-term stress is worse for one’s mind and body. This can start to interfere with normal life like feeling fatigued, inability to concentrate or irritability for no good reason. Chronic stress may also cause disease, either because of changes in your body or the overeating, smoking and other bad habits people use to cope with stress. Other forms of chronic stress include depression, low levels of social support and increased cardiovascular risk. 5. The article prescribes the following measures to deal with stress: n IDENTIFY WHAT’S CAUSING STRESS. Monitor your state of mind throughout the day. If you feel stressed, write down the cause, your thoughts and your mood. Once you know what’s bothering you,

Giving summer a fun boost

PIONEER EPOXY ANNOUNCES NATIONAL BANGKARERA YEAR 4

IN cooperation with Angat sa Dagat Organization, Pioneer Epoxy (www.pioneer-adhesives.com) unveils PENB 2019 which will be held in Naga City, Cebu, from May 31 to June 2. The event will stage four different categories participants can join in: 7-7.5HP Open Category (Gasoline Engine Single Piston), 16-18HP Open Category (Gasoline Engine Single Piston), 13HP-16HP Angat sa Dagat Special Category (Stock Engine Gasoline) and Paddle Boat Open Category (Mixed Doubles). “By staging this annual national event, we’re giving our local fishermen and boat makers a platform where they can showcase their skills. It’s also our way of giving back to all the members of their community, who have been using our products for the past 60 years,” said Alben B. Manuel, assistant vice president and marketing head for the Philippines and International Market Group of Pioneer Adhesives Inc., during PENB 2018 held in Iloilo City. Last year’s PENB recorded the largest number of participants with 58 teams and 155 boats—a marked increase from the previous year’s turnout. “This tournament was designed to strengthen the camaraderie among boat racers nationwide, all of whom make a living as fishermen and boat makers,” he added. At stake are over P1 million in cash and product prizes.

LET kids explore the great outdoors this summer with playmates from Toy Kingdom (www.toykingdom.ph). There are Disney-inspired bikes, scooters, and protection sets for active kids, as well as child-friendly Go Karts and cars inspired by various brands. These can help kids learn the basics of driving and, at the same time experience an exhilarating ride. Enjoy an exciting summer play date with friends with play houses and tents, as well as bouncers, Nerf guns and Tire Stucks. Check out these exciting outdoor toys now and experience the best of summer with Toy Kingdom. These amazing summer treats are available at Toy Kingdom Express outlets in The SM Stores and Toy Kingdom stores in most SM Supermalls.

develop a plan for addressing it. That might mean setting more reasonable expectations for yourself and others, or asking for help with household responsibilities, job assignments or other tasks. List all your commitments, assess your priorities and then eliminate any tasks that are not absolutely essential. n BUILD STRONG RELATIONSHIPS. Relationships can be a source of stress. Research has found that negative, hostile reactions with your spouse cause immediate changes in stress-sensitive hormones. But relationships can also serve as stress buffers. Reach out to family members or close friends and let them know you’re having a tough time. They may be able to offer practical assistance and support, useful ideas or just a fresh perspective as you begin to tackle whatever’s causing your stress. n WALK AWAY WHEN YOU’RE ANGRY. Before you react, take time to regroup by counting to 10. Then reconsider. Walking or other physical activities can also help you work off steam. Plus, exercise increases the production of endorphins, your body’s natural mood-booster. Commit to a daily walk or other form of exercise—a small step that can make a big difference in reducing stress levels. n REST YOUR MIND. According to APA’s 2012 Stress in America survey, stress keeps more than 40 percent of adults lying awake at night. To help ensure you get the recommended seven or eight hours of shut-eye, cut back on caffeine, remove distractions such as television or computers from your bedroom, and go to bed at the same time each night. Research shows that activities like yoga and relaxation exercises not only help reduce stress, but also boost immune functioning. n GET HELP. If you continue to feel overwhelmed, consult with a psychologist or other licensed mental health professional who can help you learn how to manage stress effectively. Next week, I will share some of my actual practices in reducing stress in my parenting life. n

HAVE fun in your backyard with this Playground Tropical that features a large sliding board, ladders and tunnels for a fun and active play time.

TRANSFORM your backyard into a battle field with this Tire Stuck for an intense play game.

BE like a hero in a battle zone with this new X Shot ExcelXcess TK-12.

SEEKING knowledge has always been a major tool in how I handle stress. These are some of the books I have read to help me put stress into perspective.

D4

Show BusinessMirror

Thursday, May 16, 2019

www.businessmirror.com.ph

The night a�ter Mother’s Day, we called mothers whores Constance Wu’s ‘Fresh Off the Boat’ job safe after rant NEW YORK—ABC’s entertainment president said Fresh Off the Boat star Constance Wu’s job is safe despite her online rant. The Crazy Rich Asians star posted an expletivefilled complaint last week when the comedy’s renewal was announced. No thought was given to recasting Wu’s role as the sitcom’s mom, network executive Karey Burke told a teleconference on Tuesday. Burke said she’s choosing to believe Wu’s most recent comment, that she’s happy to return to Fresh Off the Boat. But pitching ABC’s lineup to advertisers later on Tuesday, the network executive couldn’t resist a dig. Fresh Off the Boat will air on Friday nights, Burke said, “still starring Constance Wu.” Wu has apologized for what she called “insensitive” comments and said she loves the sitcom. She said she was temporarily frustrated that it would keep her from working on a passion project. Burke said she knew Wu had another opportunity if the show ended, but ABC always intended to renew it for a sixth season. AP

JASON MRAZ during his recent concert in Manila.

PATRICK RONALD LASANAS

JASON MRAZ SENDING LOVE AND ‘GOOD VIBES’

IT was a perfect night on May 8 to take a trip down memory lane for Filipino fans of Grammy-award winning singer and songwriter Jason Mraz. The Filipinos know his songs by heart and it is the artist’s sixth time in Manila following his visits and shows in 2004, 2006, 2011, 2013 and 2014. His current world tour, titled Good Vibes 2019, kicked off its Asian leg in Manila and will be followed by seven more cities throughout month of May. Jason Mraz is known for his unique wordplay and impromptu lyrics during his performances. The audience sang their hearts out to his songs “Remedy,” “I’m Yours” and “I Won’t Give Up.” The concert was made more special by the presence of our very own YouTube sensation Reneé Dominique. They also sang their collaborative piece, “Could I Love You Any More” and his duet with Colbie Caillat “Lucky.” Reneé also performed with Jason in his Singapore concert on May 11. I’m sure you’re still hung over and can’t wait for Mr. A-Z’s return. RACHELLE ANN REAL-TOLENTINO

REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

T

HE first results of the election held on May 13 came in trickles by about 9 or 10 pm day. But pu%#ng ina came in surges and flood from all sectors frustrated and enraged by the loss suffered by their candidates. The fears of the nation as expressed in educated upper-class discourses and discussions were coming true, like nightmares taking on physical forms. By the morning of May 14, when candidates described by sectors as a band of robbers, illiterates, corrupt, and dumb were winning, the pu%#ng ina written had assumed a metallic edge. The words were cutting through spaces. By the second day, I had to call the attention of a young cultural worker. I understand the rage and assumed he meant well, but I had to ask him if there was a need to curse women and call them prostitutes. I write this and the second day had become a day of depression for many. A new word was coined: bobotante. The winning candidates seen as bobo were being freed from that label; those who voted them into office were now the bobo. The endgame had become the blame game. The blaming was happening over the Internet in languages that ranged from angry and philosophical, to angry and political. The level of discussion pointed to a majority who really did not know anything—the dumb, amorphous masses. The expletives had moved from calling mothers cheap harlots to calling the masses dirty and ignorant. Dugyot, that Tagalog word which sounded crappy and trashy by its very sound, was aimed at that formless population that we looking down never thought would do us in. The analysis had not arrived yet. What we were reading by Day 2 were angry curses and recriminations, but no guilt. Naaah, we are not the cause of this day of infamy. We, the thinking class who could have ice cream and sugar-free gelato when a storm raged outside, we the residents of homes that had roofs that could withstand storms, were standing in the rain—a poet without the poetry, a singer without the lyrics, just this lurid individual who had

abrogated all the facts about nation and was now staring into the horizon of poor people whose mind we will never understand. The good thing about this calamity we brought upon ourselves is that we too have become as vulnerable as the disenfranchised, the man and woman at the marvelously marred margins. Of course, the common excuses started to reveal themselves: Better to go abroad—this from those who have the means to do so. Is this my country?—this is the question from those who are not here anymore who, by sheer distance, should see that they have no right anymore to judge those who opted to stay behind. I cry for my nation—these tears are courtesy of those whose griefs cannot be heard. But the student of good governance and politics should really know better. Sobriety marked the comments and words of speakers who tried to raise their voices above the din of simplistic thinking. Where idiotic matrices marked the days preceding the elections, charts were drawn again to remind us we are a society of inequalities. And that these inequalities are not product of laziness on the part of individuals or curses from the heavens, but from a structure that keeps people poorer and those who are richer even richer. Did we even and ever think of the poor? Did we consider how they think? Did we ponder how they would vote? We ranted over the Internet and felt good listening to our voices and speeches driven by social media. We loved listening to the sound of our voice even as we rhapsodized about the goodness of the intellectuals, those candidates who could analyze, synthesize, summarize and present precis about lofty ideals. Social media had informed us—and for good— about the anti-intellectualism happening in significant sectors, even among teacher and education officials. The very bastion of intellectualism had not only raised the moat to the Ivory Tower; they have burnt the citadels of logic and announced as official holidays the lives of the uncouth. We should have listened. We should have worked around these machinations but we have retreated into our own enclaves, the shrines to our goodness. We thought the trolls have crept back into the caves. Wrong. They engaged us in other discourses so we would not look as they moved from one poverty-stricken village to another. They know that intellectuals intellectualize poverty and the poor do not read sociological analysis. The poor listen to those who listen to them. The unkempt feel good when people do not see the dirt on their faces or pretend not to see them. But our class, no, we are too good for that. We read to them the reasons for their poverty. We

Radicalism is something that should not belong to the gilded past but to our present. As radicals, we should not be “afraid to confront, to listen, to see the world unveiled.” explained to them their unkemptness in words that are so clean, it made them feel even dirtier. That is, if they ever grasped our message. We were, damn it, full of ourselves and arrogant! The late Fr. John Carroll, SJ, sociologist par excellence and founding director of the Institute of Church and Social Issues, used to speak of two social theories: the consensus and coercion theory. The first, idealistic as it may seem, assumes that societies can be built harmoniously on shared values; the second sees society as a site of struggle for power. In consensus theoretical thinking, “power is the servant of society and its values.” In coercion theory, values are seen “as servants of power.” The election that just took place and the dark days it has produced for us remind us that power resides not in us expert analysts and thinkers, but in how we are able to generate moral suasion in the 40-plus million and the 9 million more below us. They have access to phones and social media, but their use of the technology is something we still have to learn. Their languages are different from ours; their apprehension of signs and symbols wholly separate from ours. Perhaps I am being nostalgic but the words from Paulo Freire, a forgotten thinker, are more than ever clearer. Radicalism is something that should not belong to the gilded past but to our present. As radicals, we should not be “afraid to confront, to listen, to see the world unveiled. This person is not afraid to meet the people or to enter into a dialogue with them. This person does not consider himself or herself the proprietor of history or of all people, or the liberator of the oppressed; but he or she does commit himself or herself, within history, to fight at their side.” n

Joyce Pring releases newest single ‘Baka Sakali’ GMA host Joyce Pring returns to her first love— music—as she launches her new single, titled “Baka Sakali.” Known as a sought-after events host, vlogger, writer and a World Vision Ambassador, Joyce is thrilled to embark into a new chapter in her career via her first original track, which she wrote with Rico Blanco. She shared: “For many years, I have enjoyed my work as a broadcaster and TV presenter, but not a lot of people know that my first love was always music and writing. When I was five, my parents would often go to church and I enjoyed serving in the music ministry—I would dance and sing, and spend my days basking in whatever creative pursuit I could get my hands on. At the age of 14, I fronted my first-ever band, and we would perform classic rock songs at school events, and in different competitions.” The song is about stumbling upon hope right on the brink of completely giving up. “I couldn’t be

prouder of Baka Sakali—I’m convinced that this is where my heart is: a kind of in-between space that’s courageous enough to admit resolute fears, but also bold enough to say, ‘I’m willing to try again,’” Joyce said. Currently, Joyce coanchors the digital newscast “Stand for Truth” alongside award-winning broadcast journalist Atom Araullo and GMA Resident Analyst Richard Heydarian, together with a fresh group of reporters from all over the Philippines. She is in charge of the music segment of the online news program. She is also one of the hosts of the longestrunning morning show Unang Hirit and GMANetwork. com’s Kapuso Artistambayan. She produces the podcast #AdultingWithJoycePring and uploads vlogs on her YouTube channel every week. Baka Sakali is now available for download and streaming on iTunes, Apple Music, Spotify and other digital platforms under Balcony Records.

Sophie Turner at core of radical superhero movie SOPHIE TURNER ups the stakes in the most radical and female-led movie ever made in the X-Men universe in 20th Century Fox’s X-Men: Dark Phoenix, which opens in Philippine cinemas on June 5. In X-Men: Dark Phoenix, the team was sent to a life-threatening mission in outer space. Jean Grey (Turner) is nearly killed when she absorbs a cosmic entity that leaves her with powers far beyond anything she or any other mutant has ever possessed. Once she returns home to Earth, she struggles with these neargodlike abilities, but the force inside her is too overwhelming to contain. Spiraling out of control, Jean hurts the ones she loves most. Her actions tear the X-Men apart, and the heroes find themselves deeply compromised at a time when they must face their most dangerous enemy yet—one of their own. At its core, this is a tale of a woman

struggling with her personal demons, and only the love of her family—the X-Men—can save her soul and the world. “This movie’s very different from the previous X-Men movies,” Simon Kinberg says of his directorial debut. “The source material is different from the other X-Men comics that we’ve drawn upon in the past. It’s more psychologically complex and emotionally volatile. The emotions it gets into are rawer than a lot of the other X-Men comics.” It was also finally time for an X-Men movie to have a female lead. The women in the X-Men films—played by powerhouse actresses, from Famke Janssen to Halle Berry—were complicated, dynamic, and always had agency, but their stories never quite came to the fore. After nearly 20 years, X-Men: Dark Phoenix is squarely focused on the journey of Jean Grey and the women who

surround her, including Jennifer Lawrence’s Raven and Jessica Chastain’s Smith, a villainous new presence who encourages Jean to abandon her humanity and give in to her darkest urges. “Now was the time for a female-led superhero movie, and the Dark Phoenix story is the most powerful female-led storyline in X-Men history,” Kinberg says. Additionally, the director sought to craft an adventure that would offer a much more nuanced depiction of good and evil appropriate to our turbulent times. He wanted to emphasize the duality that can exist within the same person, the darkness and the light. “We’ve gotten to a place where audiences are ready for a disruptive, radical story where a good guy goes bad, where a hero loses control and becomes destructive, even homicidal,” Kinberg says. “Comics, and even comic book

moves, tend to tread in good guys and bad guys, heroes and villains. Right now, we’re living in a world that is a little upside-down politically and socially.” “The thing about the Jean Grey/Dark Phoenix story is that she’s not a villain, but she’s not a superhero who’s going to save the world and everything’s fine,” says Turner, who is also known for her role as Sansa in Game of Thrones. “She’s one of the few characters that’s very tormented and broken. It’s not too fantastical for people to comprehend. There’s no black or white with her, it’s a very gray area. It’s a struggle that’s very true to a lot of people and that’s why people love her.” Along with Turner and Chastain, X-Men: Dark Phoenix also stars James McAvoy, Michael Fassbender, Jennifer Lawrence, Evan Peters, Nicholas Hoult, Tye Sheridan and Alexandra Shipp.

SOPHIE TURNER and Jessica Chastain in X-Men: Dark Phoenix

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, May 16, 2019 E1

Portugal: Exploring and ‘rediscovering’ PHL

F

By Recto L. Mercene

@rectomercene

IVE hundred years after Ferdinand Magellan dropped anchor on Philippine shores, a second wave of intrepid Portuguese have landed once more in the country—not to avenge the death of the greatest navigator in written history, but to win the hearts and minds of the locals—with billions of euros in investments. The recent “expedition” was made possible via Eurico Brilhante Dias, Secretary of State of the Republic of Portugal, with top-ranked Lisbon investors. The BusinessMirror interviewed Dias about the mission, notwithstanding the European Union (EU) members’ earlier arrival and partaking of the country’s robust economic growth many moons ago. “Under my duties in the Portuguese government, I have an important task of developing international trade and attracting foreign invest-

ments into my country,” the young and eager delegation leader stated. Dias did not hesitate to point out the historical links that transpired between the Philippines and his country half a millennium ago, when a fellow Portuguese, sailing under the Spanish flag, planted a lasting European influence in our soil. “We have historical heritage... I can say, almost 500 years. But of course, our economic relations are not so deep than it should be.” “I have brought a delegation of 13 Portuguese companies. They are

open for meetings and are looking for opportunities to invest and exchange experiences with Philippine businessmen,” he confessed. Asked for specifics, Dias, tall and imbued with as much desire as his navigator-forebear discover “new territories,” said they have six areas of two-way investments in mind: tourism, information and communications technology, mining, logistics, real estate and food processing. “Portugal is a fantastic place to produce and sell products in an interesting market like the EU, with 500 million consumers who average more than €20,000 gross domestic product [GDP] per capita,” he boasted. The state secretary clarified his country’s expertise in those sectors of investments, while he singled out tourism as a sector of paramount importance. Dias said they are aware of the administration’s current program in building more infrastructures. “They are fantastic,” he said. “We have Portuguese construction companies related to waste and water- treatment plants, where their Filipino counterparts can invest in.” As logistics companies, Dias said they are strong and highly skilled in the food industry, “We can make

investments and give our citizens a better life, with more investments and trade activities between our countries.” Since arriving, the Portuguese official had meetings with various officials from the government “to develop our political and diplomatic relationship,” while he shared about his interactions with the foreign affairs as well as the trade and industry departments. Dias said he wanted to make clear three important roles of his mission, which are: “first, generate more investments and trade; second, show our commitment and support a free-trade agreement [FTA] between us and the Philippines and support a FTA between the EU and Asean, [including one with] the EU and the Philippines.” He said they have already been to Vietnam and pursued the same trade-and-investment undertaking, but “of course, we need to work harder to develop that.” “Third, to contact the Chamber of Commerce, [as well as] other entities and investors to show Portuguese and Philippine companies can exchange goods, products and services...and that can we attract more investments

from the Philippines to Portugal.”

Recovering economy

DIAS admitted Filipino investors have gained access to Portugal; but conversely, not many companies from his motherland are in the country. “So we need to work hard to have better figures; to have more investments between our countries.” He said there are economic obstacles to be hurdled related to his trade mission, but promised that “we can do [more] together, and that we can explore. I’m sure these low [trade] figures that we have could really be improved.” Asked why they came only now, when practically the entire developed world had already come rushing in to take advantage of the Philippines’s robust growth, Dias said: “I don’t know,” then continued, “I suppose sometimes, when you are far from [being seen], you are also far from priorities. Out of sight, out of mind.” He did not admit it, but the financial crisis of 2008 seriously affected Portugal’s economic growth. It is only lately that they are recovering from a sluggish economy. This is common knowledge in the EU, when the economic downturn of the Iberian

country started in 2001. Years of internal economic crisis and recession ensued. Today, Lisbon has rebounded, giving Dias the drive to come and convince the Philippines to do business with one of the planet’s first world powers. “Of course, Portugal is a European country; an Atlantic country. But we need to have a broader perspective, including not only the Philippines, but also China, Japan, Indonesia, [etc.].” Their goal, he said, is to have 50 percent of their GDP come through exports within the next decade, between 2024 and 2025. He said a revived Portugal has the acumen to achieve its goal: “It’s our objective, it’s our political will. That’s why we are making an effort to promote more diplomatic activities and our economy as [a producer of highquality] goods as well as services; and at the same time, a country that is open to other countries.”

Quincentennial queries

THE discussion segued to 2021—the 500th anniversary of Magellan’s circumnavigation of the world. Continued on E2

Envoys& BusinessMirror

E2 Thursday, May 16, 2019

Historian lectures on PHL maps in Lisbon

L

ISBON—In line with the Philippine Embassy in Lisbon’s Magellan Lecture Series, Filipino historian, former chairman of the National Historical Commission of the Philippines (NHCP) and the National Commission for Culture and the Arts (NCCA) Prof. Ambeth R. Ocampo delivered a lecture on Philippine cartography, entitled “Mapping the Philippines: Before Waze and Google Earth” in the midst of Portuguese academe, members of the Filipino community and some Filipino youth. Ambassador to Portugal Celia Anna M. Feria welcomed the audience and cited the importance of having lectures that would raise the national and cultural identity of the Philippines through the study of history. During the lecture, Ocampo enlightened the audience with visual presentations of ancient maps of the Philippines and explained that “cartography is a visual language.” He added that ancient maps of the Philippines are not only used as historical records, but also help

provide data and insights on foreign cartographers’ knowledge of the Philippines during various time periods in Philippine history. Ocampo also showed the audience that by looking at the maps in a series, it can illustrate the detailed differences of the emergence of the Philippines as a sovereign country. The open forum allowed the audience to ask about Ocampo’s insights, which ranged from Ferdinand Magellan’s arrival in the Philippines, to its historical territorial borders. His lecture is the third edition

FORMER Philippine expatriate Andres Rodrigues Lopes quizzes Ocampo during the open forum. ANTONIO GONZALES/LISBON PE

PROF. Ambeth R. Ocampo delivers a talk at the Philippine Embassy in Lisbon. ANTONIO GONZALES/LISBON PE

AMBASSADOR to Portugal Celia Anna M. Feria presents a certificate of appreciation to Ocampo. ANGEL ESPIRITU JR./LISBON PE

Filipino history, culture studied in intl seminar

L

ISBON—A two-day international seminar, “The Philippines, A Global Contact Zone: Transoceanic Connections [1521-1898]” provided an in-depth look at the formation of a globalized world, as well as the cultural, trade, oceanic and people-to-people connections established during this period in history. Foreign Affairs Undersecretary for Strategic Communications and Research Ernesto C. Abella noted that, “Southeast Asia is highly dynamic and

interconnected. It is home to a number of countries withthefastest-growingeconomiesintheworld,as well as the busiest trade routes, where about $5.3 trillion worth of goods pass the waters yearly. Just as it was centuries ago, the Philippines today is in the center of all these flows and connections.” Dr. Armando Marques Guedes, Portuguese political scientist and anthropologist who has done extensive postgraduate research on Philippine anthropology, was the seminar’s keynote

speaker, and also presented his paper, entitled: “The Philippines, Portugal and Southeast Asia: Drawing connectivities.” He gave a comprehensive overview of the diversity of Southeast Asia, and outlined its connectivity and centrality as a center of political, economic and cultural linkages, both in the past and in the future. Ateneo de Manila University’s Associate Prof. Ambeth Ocampo presented the Philippine National Quincentennial Committee’s commemo-

of the embassy’s Magellan Lecture Series since it was first held in 2018, and one of the cultural diplomacy programs in line with the 500th anniversary of the circumnavigation of the world by Ferdinand Magellan. The lecture series aims to foster closer relations and academic exchanges between the Philippines and Portugal in the fields of art, culture and education by inviting academic scholars and resource speakers to discuss and share their perspectives and insights on topics and issues that are of mutual interest to both countries. DFA PROF. Ambeth Ocampo explains the official logo of the Philippine National Quincentennial Commemorations.

rations on the 500th anniversary of the Magellan expedition in 2021. He explained that the quincentennial commemorations will be an opportunity to revise and revisit the way the event has been represented and constructed from a Filipino point of view. He also showed various paintings and illustrations of the Battle of Mactan portrayed by Spanish and Filipino artists to the audience to support the various historical interpretations. DFA

MABILLE ADRIANNE SAMPAIO

Portugal: Exploring and ‘rediscovering’ PHL Encyclopedia of PHL art in Portugal’s National Library Continued from E1

Preparations have been under way, not only for Portugal but also for Spain, to celebrate the quincentenary of Magellan’s feat. Both countries have built their own ships ready to circumnavigate the world and visit as many cities in the process. Why are the two countries sharing Magellan’s monumental feat? This is because, when the navigator broached to King Manuel of Portugal the idea of sailing westward, he was roundly denied the opportunity, as the monarch had no interest to sponsor a journey to a place he could not keep under his flag. At that time, following the Treaty of Tordesillas, the two ancient world powers in the Iberian Peninsula divided the world into two spheres of influence. But the Portuguese ruler at that time, who lacked a modern, updated map, did not know about the Spice Islands. Precious spices, specifically clove, were the object of Magellan’s voyage, which at that time commanded a higher value than that of gold. Magellan (Fernão de Magalhães in Portuguese; Fernando de Magallanes in Spanish), who earlier had made forays to India and part of the Moluccas, moved to Sevilla in Spain. Charles I, then 18-yearold and grandson of King Ferdinand and Queen Isabella, gave his nod to finance the landmark voyage. The headstrong sailor promised the young king that the westward sea voyage would bring immeasurable riches to the Castillan nation. In the case of Portugal, Dias said

PORTUGAL’S Secretary of State Eurico Brilhante Dias exchanges views with the author.

they have since 1961 a sailing ship, the NRP Sagres, a multimasted, tall school vessel of the Portuguese Navy. As the third vessel with the same name in the Portuguese Navy, she is sometimes referred to as Sagres III. According to Dias, Sagres III would drop anchor in the Philippines after visiting several other cities “to celebrate that fantastic event in 2020.” The plan for Sagres III is to sail the same route Magellan did, “more or less,” Dias said, volunteering they have a commissioner heading the preparations for those celebrations in Portugal. “We are preparing a common agenda with Spain,” he admitted. “I’m sure there are other kinds of activities to be developed, mainly related with culture and Portuguese as a global language.” Mulling over the potentials of jointly celebrating the 500th anni-

versary of Magellan’s circumnavigation of the planet, Dias said: “It is going to be a moment where we can remember and renew our bonds, and we can have stronger relationship.” Trying to relive their old glory, Dias said Portugal’s message is “to prepare for this celebration; not to celebrate the past, but to show how that past can be used to have a better future.” He added, “And a better future means [not just an exchange of] goods and services, but also of culture and people.”

Culture, values, globalization

THE state secretary said Portugal wants to share its culture and values “in order to have a better globalization, [which equates to] more international trade and investments.” Following his dialogues with local investors, Dias revealed that lo-

cal businessmen will visit Portugal in the near future to look for opportunities there. “We have 177 companies exporting from Portugal to the Philippines, [although admittedly it is not quite high in our priorities, but] it’s a beginning. We need to increase that figure.” His more ambitious project is to build regional platforms, because “Portugal is an economy within the EU, the euro being our currency. But at the same time, Portugal is a platform for Portuguese-speaking countries like Brazil, Angola and Mozambique.” He said Lisbon has a dynamic diaspora in North America. “We have fantastic relations with Canada with a standing FTA. We have our first client outside EU in the US, as well as the same political and economic relations with countries from Morocco to Algeria.” In their attempts to catch up, Dias said Portugal is also exploring new markets in Egypt and the United Arab Emirates. He offered that his country is an interesting platform for Europeans, Americans, Africans and the Philippines, which he describes as a “fantastic gateway to Asia and its southeast part.” He promised that if the Philippines could be perceived as a true Asian gateway, “and if you can give that perception of value that you have as a platform of Asia to Portuguese companies, I’m sure a lot of [our] companies will invest in the Philippines, not only to explore this market, but also others.”

AMBASSADOR to Portugal Celia Anna M. Feria (right) presents the Encyclopedia of Philippine Art to Director General Dra. Maria Inês Cordeiro of the National Library of Portugal. LISBON PE

L

ISBON—Ambassador to Portugal Celia Anna M. Feria presented the Encyclopedia of Philippine Art to Biblioteca Nacional de Portugal (National Library of Portugal, or NLP) Director General Dra. Maria Inês Cordeiro in Lisbon on April 15. A fter v iew ing and leaf ing through the pages of the encyclopedia volumes, Cordeiro said she was impressed by the high quality of the books’ contents, and told Feria that the books must be shared with the public. The 12-volume encyclopedia is now part of the open reference section of the National Library of

Portugal. Feria thanked Cordeiro for making the books available to the Portuguese public, which will contribute to a wider understanding of the Philippines in Portugal. In addition, the ambassador also donated to the NLP a complete set books from Prof. Ambeth R. Ocampo. The NLP is the largest library in Portugal and was established in 1796, after the 1755 Lisbon earthquake and fire that destroyed a huge portion of the city and its rich historical collection of books and manuscripts. It has as its primary role the collection and preservation of the national bibliography through legal deposits. DFA

&Expats

envoys.expats.bm@gmail.com | Thursday, May 16, 2019 E3

TRAVEL AND CULTURE

Inspiring change through dance M By Suzie Moya Benitez, PhD

And what about dance? The president of the Conseil de Mallorca, Miguel Enseñat (who supported this project), said that no words are needed to express understanding of diverse cultures, for dance bridges cultural differences. My co-jury members, although coming from the same industry, may differ in perspectives as to the value of each presentation. Dance represents each one’s cultural traditions interpreted in many ways, yet we must be one in judging the best dance company for the festival. Deliberating, defending our choices and eventually agreeing on the winners were no mean feat. Professionals that we are, we stood by the rules set by the organizers.

OST recently I had the honor to sit as juror in a five-man panel in the Mallorca World Folk Festival dance competition. Never did I imagine that magical moments would come right at my doorsteps when I said “yes” to jury work.

Changing perspectives

JURORS at one of the Mallorcan cathedrals

THE author (center) with her hosts in Mallorca

The Conseil de Mallorca’s president organized the folk festival, which brought together 14 international dance companies for the dance competition, plus 26 local groups that teamed up with the

visiting artists. They performed in various town plazas and auditoriums during the week. The picturesque isle of Palma de Mallorca was the setting for this grand festival. Representa-

tive Gabriel Frontera of the Federation of International dance festivals made sure that we got to see the most beautiful and exotic places in Mallorca in between the competitions.

Unforgettable experience

THE quaint and narrow streets of Valdemossa, the prayer room of Santa Catalina where I had some silent moments to pray, the authentic panaderias which sell

An invitation to the ‘heart’ of Alsace

AMBASSADOR Nicolas Galey

PGI Holdings’s Olivier Midière

By Cesar M. Cruz Jr.

extremely rich Alsatian geography, as well as a legendary kind of hospitality.

A

T a recent gathering in his residence, Ambassador Nicolas Galey unraveled one of Europe’s best-kept secret destinations northeast of France: The Alsace region. A short video presentation highlighted the picturesque pastoral region at the base of the great Vosges Mountain. There, one can cycle along quiet vineyard roads through villages of half-timbered houses, medieval castles and ancient stone churches while embracing the unique Alsatian culture, which stands distinct from its French neighbors. (Editor’s note: The locale was used to describe a certain type of evening ambience, or “air,” in the acoustic ditty moonlight over Paris.) Visitors could also hike through hundreds of castles and ruins, as well as enjoy local delicacies among a vast selection of superior dining options alongside sparkling Alsatian wine. According to Galey, the cultural uniqueness of Alsace is traced to historical changes that have integrated a mix of culture, dialects and cuisine.

Legendary hospitality

MANILA-BASED entrepreneur Olivier

Wine and dine

GUSTAVE LORENTZ goes well with desserts

Midière of PGI Holdings has given himself the challenge of bridging the distance between Alsace and the Philippines, drawn by his passion for Alsatian wine and for the French region. Imagined in Alsace and based in Manila, Midière’s mission, captured in the concept “Heart of Alsace,” is to promote the region through rich and innovative experiences. It is a trip to some of Alsace’s innovative fields dedicated to wine tasting and other Alsatian flavors. Full-week package trips to Paris and Alsace catering to both corporate and individual markets are being offered. Heart of Alsace is actually the “ambassador brand” of the French art de vivre, of an

GUESTS’S palates had a heyday sampling Alsatian flavors through the superb creations of Chef Nicolas Stamm, who flewin to the country just for the occasion. His restaurant back in France, La Fourchette des Ducs, has garnered two stars in the Michelin Guide (which is a reference to “ excellent cooking that is worth a detour”). He is also a member of Les Grandes Table du Monde. His wonderful hor d’oeuvres included couer de saumon fumé, crème de raifort, chococroute d’Alsace, caviar de truite, terrine de foie gras de Canard d’Alsace, cōnes aux escargots et fines herbes, jambonnettes de cuisses de grenouilles a l’Alsacienne, tartare de saumon, plateau de fromages de France et d’Alsace, kougelhof, bienenstich, and macarons. Complementing the food fare were Gustave Lorentz Alsace Wines: Pinot Blanc Reserve 2017, Riesling Reserve 2017 and Gerwurztraminer Reserve 2017. Thanks to Chef Stamm and his flavorful creations, he was able to introduce to the guests a delicious taste of the Alsace region.

Mallorcan ensaimadas, the magnificent cathedrals, castles and monasteries, the caves with some reflective musical moments.... All these made my Mallorcan experience unforgettable.

THE first-prize winner was the group PIRIN from Bulgaria. Second prize went to the group from Brazil, who happily promised to return in the next festival and hopefully bring home the top plum. The grand finale captured a truly changing and unifying moment, as all 14 dance companies performed the Mallorcan bolero of Santa Maria with precision and extraordinary flair that projected vibrancy and oneness. Dance changes one’s perspective of self, vis-à-vis the rest of the world. It inspires one to set a certain standard for himself and opens himself to check on the ways and means to best improve for the better. Indeed, the magic of dance.... It continues to inspire me to work harder and aim higher.

Envoys&Expats BusinessMirror

E4 Thursday, May 16, 2019

www.businessmirror.com.ph

‘Día del Libro:’ Bards, bands, books and blooms

I

NSTITUTO CERVANTES, cultural arm of the Embassy of Spain, celebrated the 14th edition of the Día del Libro (International Book Day) at the Ayala Triangle, where thousands of books were sold, and roses given. Día del Libro has become part of Manila’s cultural calendar. The celebration commemorates the death of renowned Spanish writer Miguel de Cervantes, as well as the English playwright William Shakespeare— both of whom died on April 23. This date is also the feast day of Saint George, patron saint of Catalonia, Spain. Following tradition, a book market is held outdoors in the said province, where books and roses are exchanged. In Manila, various publishers and bookstores were present at the local book market and gave a 20-percent discount on their publications, as well as the red-bulbed blooms to their customers. Other booths also sold books of every kind: secondhand, rare and vintage, Filipiniana, and those available only in Spain. For its part, Instituto Cervantes paid homage to great writers in the Spanish language and sold shirts featuring a verse from different Spanish poems, each one fitting a different

type of personality. Quickly sold out were those that bore quotations from Dr. Jose Rizal and Miguel Hernández—the latter being a prominent 20th-century Spanish writer, after whom Instituto Cervantes’s library in Manila was named. Apart from the book market, there were a lot of other activities that attracted the visitors, such as the rewriting of Don Quixote, as participants handwrote each paragraph from the novel. It also featured the poetry recitation of “Mi último adiós,” in which participants were video-recorded reading a verse from the immortal work of Rizal. The video of this poetry recitation may be viewed in the YouTube and social-media accounts of Instituto Cervantes-Manila. There were also book-signing sessions by award-winning writers, including the creators of the popular Trese comics Budjette Tan and Kajo Baldisimo, as well as various children’s books authors, some of whom held storytelling sessions for chil-

A ROSE for every book

STORYTELLING for children

BASQUE post-punk band Vulk played together with Filipino post-punk band The Late Isabel.

AMBASSADORS Jose Miguel Capdevila (Chile, from left), Jorge Moragas (Spain), Victor Hugo Echeverri (Colombia) and Rolando Guevara (Panama)

dren. Youngsters also had a fun time painting murals and coloring works of art by famous Spanish painters. Throughout the day, the Kyusi Sketchers went around painting different scenes during the event.

percussion ensemble by Alex Alcaraz and Paul Zialcita in the afternoon, as well as a punk concert in the evening by Spanish band Vulk, and Filipino group The Late Isabel. The concert, entitled Posporos, is

Theater Arts students of the De La Salle-College of Saint Benilde held flash mobs of Federico García Lorca’s acclaimed drama Blood Wedding. Music lovers also enjoyed two concerts: A flamenco guitar-and-

a cultural project of the Embassy of Spain to promote Spanish musicians in the Philippines, and vice versa. The ambassadors of Spain, Chile, Colombia, Panama and Hungary were present at the inauguration ceremony.