BusinessMirror May 20, 2019

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

BusinessMirror A broader look at today’s business

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n Monday, May 20, 2019 Vol. 14 No. 222

Biz groups push okay of Public Service Act B

By Elijah Felice E. Rosales

@alyasjah

USINESS leaders have closed ranks behind a final push to prod the 17th Congress—which resumes sessions on Monday (May 20) for its final three weeks of work—to pass the amended Public Service Act (PSA) before leaving office in June.

The PSA has long been deemed a priority piece of legislation because it is seen as a roundabout way of removing foreign ownership restrictions on certain key industries, such as telecommunications,

by clearly and finally defining what public utilities are. In the process, those key industries that will fall outside the new definition of utilities in the amended PSA can better expand their horizons without the

constitutional restrictions, business leaders believe.

Under Article 12, Section 11 of the 1987 Constitution, public utilities must be solely operated by firms that are 60 percent owned by

“Of the bills that are in advanced stage—second or third reading in both houses—we hope Congress prioritizes Public Service [Act] amendments before it adjourns.”—Alcuaz

Filipinos. House Bill (HB) 5828 and Senate Bill (SB) 1754 seek to clearly define what public utilities are.

HB 5828 and SB 1754 limited the definition of public utilities to: the distribution of electricity; transmission of electricity; and water pipeline distribution system or sewerage pipeline system.

Business executives polled by the BusinessMirror said it will be a See “Public Service Act,” A2

@akosistellaBM Special to the BusinessMirror

‘W

E’VE got it all for you.”

Like the well-known retailer SM, the Philippines is likely singing the same tune as it offers not just beautiful destinations to amaze tourists, but also a myriad of activities for foreign and local travelers to enjoy.

Last Friday, the Department of Tourism (DOT), in partnership with SM Supermalls, launched a new campaign, “Malling is More Fun in the Philippines,” to promote the country as a shopping haven in Asia.

“It’s no small feat that SM Supermalls have somewhat defined our cities and helped shape our collective memory,” said Tourism Secretary Bernadette Romulo Puyat in her speech during the campaign’s

launch at the SM Mega Fashion Hall at Megamall in the Ortigas business district. “And now that tourist numbers have continued to climb, shopping centers such as SM will hold great influence on how our visitors from around the globe will perceive us, and on the experience that they will take away,” she emphasized.

DOT’s campaign, she said, invites locals and tourists alike to experience why shopping, leisure and entertainment in the Philippines are more enjoyable compared to other destinations. The agency’s push for shopping tourism is simple “is part of the equation to spur economic growth, create millions of jobs, livelihoods and enterprises, and help the Philippines become a globally recognized quality destination,” the DOT chief added.

See “DOT,” A4

PESO EXCHANGE RATES n US 52.4090

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 5 sections 28 pages | 7 DAYS A WEEK

ECONOMIC CLUSTER SETS MEETINGS ON PROJECTS’ TIMELINE, FUNDING NEEDS

By Rea Cu

@ReaCuBM

T

HE Economic Development Cluster (EDC) of the Duterte cabinet will be meeting next week to assess the physical targets of the government in line with projects that can be sped up, as well as its borrowing projections for the rest of the year, the Department of Finance (DOF) said.

Finance Secretary Carlos G. Dominguez III told reporters the EDC will meet on May 24 with the Department of Transportation (DOTr) and Department of Public Works and Highways (DPWH), on which projects can be sped up now that the 2019 budget bill has been signed.

He said the EDC will also discuss with the Bureau of the Treasury (BTr) its borrowing projections for the rest of the year, as there was government underspending in

DOT partners with SM for new tourism campaign

By Ma. Stella F. Arnaldo

2017 EJAP JOURNALISM AWARDS

the first four months this year on account of the protracted standoff between the two chambers of Congress over the 2019 budget.

“No, we are not conceding that [underspending for the whole year] yet; we are just saying what is needed and I have to talk to the DOTr and DPWH and see if they can do it. I mean, don’t do it foolishly just for the sake of spending, you have to do it in a rational way and that won’t cost us more or whatever. So it’s really a different problem. We had a meeting the other day, I told them this is incomplete; we have to go over it again, it’s a really serious problem. Then we are scheduling it, I think, on the 24th. We have to look at the physical targets first and then we will go with the DBCC [Development Budget Coordination Committee] to look at the deficit target,” Dominguez said.

See “Economic cluster,” A2

Palace shoots down story on Duterte’s ‘heart attack’

By Jovee Marie N. dela Cruz @joveemarie

T

LOCAL products and dishes were featured at the launch of “Malling is More Fun in the Philippines,” a campaign by the Department of Tourism in partnership with SM Supermalls. It was launched on May 17 at the Fashion Hall of SM Megamall. CONTRIBUTED PHOTO

HE Palace on Sunday said President Duterte is “well and good” and just resting in Malacañang, following speculations he was rushed to Cardinal Santos Medical Center in San Juan City following a heart attack.

Chief Presidential Legal Counsel and Spokesman Salvador Panelo and Executive Secretary Salvador Medialdea said the speculations were “not true.” “There is no truth to the rumor circulating that President Rodrigo Roa Duterte is confined in Cardinal Santos Medical Center in San Juan,” Panelo said.

See “Palace,” A4

n JAPAN 0.4771 n UK 67.0783 n HK 6.6769 n CHINA 7.6131 n SINGAPORE 38.1906 n AUSTRALIA 36.1203 n EU 58.5723 n SAUDI ARABIA 13.9765

Source: BSP (17 May 2019 )

News

BusinessMirror

A2 Monday, May 20, 2019

Anti-terror, ‘Endo,’ amended PSA bills top Senate priorities

T

By Butch Fernandez

Public Service Act— is the subject of a last-minute lobby by the country’s leading business groups, including foreign chambers of commerce, for its potential to unlock key investments in industries (example: telecommunications) that an amended PSA may finally exclude from the definition of “utilities,” which the Constitution subjects to a 40-percent equity ownership cap for foreigners. Related story on page A1.

Senate President Vicente Sotto III said senators will work for early passage of remedial legislation to update the Public Service Act embodied in a separate bill up for approval on second reading.

Sotto cited the need to fasttrack passage of the amended PSA to effectively address “problems encountered not only with telcos and airlines, most especially power and water supply.”

He stressed that “all these fall under the category of the Public Service Act.” Once enacted into law, Senate Bill 1754 will update and amend Commonwealth Act 146, a law passed in 1936. Sotto said that the amending bill was crafted to also address “confusion

@butchfBM

HE Senate leadership is convening an all-senators’ caucus right after lawmakers reconvene for their regular session on Monday to finalize their list of priority bills to be front-loaded for plenary approval as Congress is set to adjourn anew from June 8 to July 21, under its approved calendar of session.

This, as Senate Majority Leader Juan Miguel Zubiri indicated on Sunday they have yet to firm up a general agreement on early passage of the proposed anti-terror bill, the proposed Public Service Act and the awaited labor reforms embodied in the end of contract (“Endo”) bill, among other bills awaiting approval by the Senate.

“We need to get a consensus tomorrow [Monday] with our members for the priorities in these next three weeks,” Zubiri told the BusinessMirror over the weekend,

“We need to get a consensus tomorrow [Monday] with our members for the priorities in these next three weeks.”—Zubiri

referring to lawmakers’ final sessions before adjourning anew to give way to the 18th Congress.

At least one of the three priorities cited by Zubiri—the amended

in the definition of a public utility and public services that will result in more choices, better services and lower prices” in favor of consumers and commuters.

Anti-terror, Endo bills

According to Zubiri, the senators already held “a preliminary discussion on pushing amendments to the proposed Anti-Terrorism Act and the Endo bills.”

Sotto earlier affirmed a consensus that lawmakers are already looking to approve a number of priority measures, before Congress goes on recess anew in June.

Sotto specifically cited, for instance, Senate Bill 2204, sponsored

by Sen.Panfilo Lacson, also known as the proposed Anti-Terrorism Act of 2019. Lacson filed this to amend and update Republic Act 9372, or the Human Security Act that redefined acts of terrorism punishable by law.

Moreover, Sotto signalled that senators are also looking to advance work on other priority reform bills, including the proposed Budget Reform Act, before their next adjournment in June.

Palace orders Duterte Youth’s Cardema to vacate NYC post

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ALACAÑANG on Sunday ordered National Youth Commission (NYC) Chairman Ronald Cardema to vacate his post following his petition to substitute his wife, Ducielle Marie Suarez, as first nominee of Duterte Youth party-list.

Chief Presidential Legal Counsel and Spokesman Salvador Panelo said the petition for substitution of Cardema as first nominee of the Duterte Youth party-list, as well as the Commission on Elections’ confirmation that it was filed in timely fashion on May 12, connotes that he is considered ipso facto resigned from his present post.

“We understand that Mr. Cardema’s petition has yet to be approved

by the Comelec as the body is still currently tackling the procedural and substantive legalities of the same. Regardless of the outcome, we deem that Mr. Cardema has already abandoned his present position because his act of filing the petition absolutely reflects his intention to relinquish his office and exposes his desire to serve the government in a different capacity,” said Panelo.

Also, Panelo ordered Cardema to turn over all official papers, documents and properties in his possession to the Office of the President.

“The President shall soon appoint a person who can advance the genuine interests and welfare of our country’s youth as the new chairperson of the NYC,” he added.

Public Service Act. . .

Continued from A1

waste if members of the 17th Congress fail to pass amendments to the PSA, a piece of legislation that they said should not be left to the 18th Congress to pass.

Advanced stage

“Of the bills that are in advanced stage—second or third reading in both houses—we hope Congress prioritizes Public Service [Act] amendments before it adjourns,” said Coco Alcuaz, executive director of the Makati Business Club.

“We urge the legislators to pass the amendments to the Public Service Act, Foreign Investment Act and Retail Trade [Liberalization] Act before the 17th Congress ends. However, should these not be passed within the nine working sessions left, we hope that the said measures will be urgently prioritized,” said Florian Gottein, executive director of the European Chamber of Commerce of the Philippines.

American Chamber of Commerce of the Philippines Senior Advisor John D. Forbes and Philippine Chamber of Commerce and Industry leaders Maria Alegria Sibal-Limjoco and George T. Barcelon also called on senators to approve the amendments to the Public Service Act. HB 5828 hurdled the House of Representatives last year, while its Senate version is awaiting second reading. The Senate leadership has listed it as one of three priority bills on its agenda when sessions resume, and Senate President Vicente Sotto III underscored its crucial role in boosting business. See above story on page A2, “Anti-terror, ‘Endo,’ amended PSA bills top Senate agenda.”

The 17th Congress will resume session for the last time on Monday (May 20), and will enter sine die adjournment on June 8. Business measures that have yet to near plenary discussions in either the House or Senate will most likely be taken up by the 18th Congress.

These include the amended Foreign Investment Act, amended Retail Trade Liberalization Act and the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill, which is the second package of the government’s tax reform program.

The Trabaho bill seeks to gradually bring down corporate income tax to 20 percent by 2029, from 30 percent, and rationalize tax incentives on the other.

Economic zone firms, mostly multinationals, oppose the component on incentives rationalization, as it will remove key tax perks, such as the 5-percent tax on gross income in lieu of all local and national taxes. They deem these incentives crucial for staying here.

Senators find this alarming, as it could potentially lead to losses in investments and, in turn, employment, making a contradiction of the moniker “Trabaho [jobs]” bill.

The discovery that the petition for substitution was filed on May 12, not 16, makes Cardema qualified to represent Duterte Youth in Congress, said Arabe.

She, however, stressed this still has to be decided by the Comelec en banc.

Among the factors to be considered by the en banc, Arabe said, is Cardema’s possible violation in continuing to serve as head of the NYC despite being a nominee of Duterte Youth.

Based on the 2019 partial official results of the national canvassing as of May 18, Duterte Youth garnered 340,258 votes, making it the 20th party-list with the highest votes. Jo-

Earlier, the Comelec admitted that it made a mistake on the date of Cardema’s filing of his substitution.

Comelec-Education and Information (Comelec-EID) Assistant Director Frances Arabe said Cardema filed his petition to substitute his wife on May 12, or on the eve of the 2019 polls.

During that time, Cardema’s wife and the four other nominees of Duterte Youth withdrew their nomination.

On Friday, Comelec Spokesman James B. Jimenez said Cardema filed his petition for substitution on May 16 or after the elections.

Under elections rules, party-list substitutions are no longer allowed after the elections.

Unicef. . .

Continued from A12

Adopted on May 20, 2006, and amended in 2013, RA 9344 or the Juvenile Justice and Welfare Act (JJWA) promotes the creation of a child-friendly justice system focused on rehabilitation and restoration rather than punishment, said the UN agency.“It upholds the basic principle that a child must not be treated as an adult as enshrined in the United Nations Convention on the Rights of the Child [CRC] signed and ratified by the Philippines: “the child, by reason of his physical and mental immaturity, needs special safeguards and

vee Marie N. Dela Cruz and Samuel P. Medenilla

care, including appropriate legal protection, before, as well as after birth.”

The law makes it clear, stressed Unicef, “that there is a need for a separate juvenile justice system where detention is the last resort.”

The erring child, it added, “must be rehabilitated and reintegrated into society if the child must take responsibility for his or her action and mend the broken relationship with the community and the victim.

It asserted that “the proper implementation of JJWA has led to many success stories proving that children in conflict of the law can be rehabilitated without resorting to imprisonment or detention.”

Economic cluster. . .

After the EDC meeting on the initial assessment and physical targets, the finance chief said a DBCC meeting will follow, this time tackling macroeconomic assumptions.

“You know, I’m telling you that catch-up is a myth. Okay, I’ll tell you what happens, people who have not been in operations don’t realize that when you try to catch up it costs you more, you will pay for overtime, so the same road you’re going to build will cost more. I’ll tell you something else—when you are rushing you will make more mistakes...So, you know, we are going to discuss again next week with the EDC exactly what we have to do, what are really the new targets,” he added.

As for the other funding exercises planned for this year like the Samurai bond and global bonds, Dominguez said he will discuss with the Treasury if more funding exercises are still needed for the rest of the year.

Continued from A1

“I have to talk to Lea [National Treasurer Rosalia V. de Leon] because our expenditures really went down, our deficit went down to 2.1 percent...It depends on what we need. If we find out that we can cover everything from the domestic market, we’d much rather do that. And remember, the BSP [Bangko Sentral ng Pilipinas] just reduced the Reserve Requirement, so reducing the RR every 100 basis points is about P90 billion so that will be released in the market,” he said.

The government has been operating under a 2018 reenacted budget for the first four months of the year, due to the deadlock between the House of Representatives, as well as the Senate.

This resulted in underspending by the government in the early part of the year for infrastructure projects, as well as its social programs.

The 2019 General Appropriations Act (GAA) was signed by President Duterte only on April 15, 2019.

www.businessmirror.com.ph

House prods Senate on SOT, Trabaho bill, taxes on ‘sin’ products

By Jovee Marie N. dela Cruz @joveemarie

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EMBERS of the House of Representatives are eyeing to pass more pending bills in the remaining nine session days of the 17th Congress, even as they prodded the Senate to act on priority bills earlier approved on third reading in the House.

Assistant Majority Leader Rep. Bernadette Herrera-Dy said lawmakers are moving to get more laws passed when session resumes on Monday (May 20).

Assistant Majority Leader Michael Romero of 1-Pacman partylist also said Congress is now awaiting the signing into law of bills on the Pantawid Pamilyang Pilipino Program and Magna Carta for the Poor.

“Another imminent law is the proposed Philippine Innovation Act for micro, small and medium scale enterprises,” the lawmaker said.

“Working with our colleagues in the House and the Senate, we placed our mark on these three significant pieces of legislation, especially the two anti-poverty measures wherein we pushed for systems, processes, standards, and funding meant to make the government implement its social programs better than ever before,” Romero said.

Meanwhile, Herrera-Dy urged the Senate to act on the pending bills that the lower chamber transmitted to them before Congress went on recess last February 5.

“If the Senate is able to approve some of those bills, the House would swiftly act on them so they can be sent to Malacañang at the soonest,” Herrera-Dy said.

Earlier, Speaker Gloria Macapagal-Arroyo urged the House to now focus on all pending local bills as these are intended to address persistent concerns of every legislative district.

Arroyo said this as the House passed the President’s entire legislative agenda as he announced in his 2018 State of the Nation Address.

Vital bills

Before Congress went on a break, the House of Representatives passed and endorsed for Senate approval the necessary legislative measures which are vital to “uplift the lives of the people, ensure peace and order in the country, strengthen the campaign against drugs, provide more jobs to the people, lure more investments and enhance national development,”

Oil players. . .

Continued from A12

reduction of sulfur content will translate to as much as P10 per liter of fuel.

The number, however, has yet to be verified by the oil firms.

The agencies will also tackle in their meeting the preparations to be undertaken for “possible challenges that may emerge due to the new regulation.”

Birth weight. . .

Continued from A12

Compared with babies born at or above the low birth weight cut-off, babies born with LBW have a higher risk of stunting, lower IQ and death in their childhood, said the report.

When they become adults, these infants have a higher tendency to become overweight and obese, as well as suffer from heart disease, diabetes, and other noncommunicable diseases.

“Low birth weight has multiple causes and reducing it requires strategies to improve maternal nutritional status; guarantee adequate maternal services and care before, during and after birth;

the HOR leadership noted.

Among these bills are those on Security of Tenure (SOT), Trabaho bill or TRAIN 2, as well as taxes on Mining, Alcohol and Tobacco; and the proposed revision of the Constitution.

House Bill 8858 or a measure amending “The Juvenile Justice And Welfare Act Of 2005”, HB 8837 or an Act “Creating The National Commission Of Senior Citizens,” and HB 8961 or An Act Mandating The Institutionalization, Development, Training, Organization And Administration Of Basic Reserve Officers Training Corps (Rotc) In Grades 11 And 12 In Public And Private Educational Institutions are also pending in the Senate.

Second reading

Meanwhile, some of the measures approved recently on second reading and may be approved on third reading by the House are: HB 8909 or An Act Strengthening Drug Prevention And Control, Amending For The Purpose Republic Act 9165, As Amended, Otherwise Known As The “Comprehensive Dangerous Drugs Act Of 2002”; HB 9025 or “An Act Creating The Overseas Filipino Workers (OFW) Sovereign Fund” HB 9061 or “An Act Encouraging Corporate Social Responsibility, Providing Incentives Thereof”; House Resolution 1855 or “Resolution Expressing The Sense Of The House Of Representatives On The Need To Convene The National Security Council In Order That A National Policy On The West Philippine Sea May Be Formulated And Defined”; HB 9051 or “An Act Reorganizing The Cooperative Development Authority”; HB 9023 or “An Act Strengthening The Polytechnic University Of The Philippines By Declaring It As The National Polytechnic University, And Appropriating Funds Therefor”; HB 9042 or “An Act Establishing The Scope And Procedure For Philippine Ship Registry, Recognition And Enforcement Of Maritime Claims, And Limitation Of Liability”; HB 8960 or “An Act Providing For A Single Classification Society Or A Consortium Of Single Classification Societies For Certain Vessels”; and HB 6138 or “An Act Granting Travel Tax Exemption To Dependents Of Married Or Solo Parent Overseas Filipino Workers.”

The global regulation, enshrined under the International Convention for the Prevention of Pollution from Ships (Marpol Convention), calls for all ships in non-emission control area zones to decrease the sulfur content of fuels from 3.5 percent to 0.5 percent by January 2020.

The Philippines ratified this convention in 2018, and is a state party to all annexes written in the Marpol Convention. and strengthen social support,” the report stated.

The Unicef and WHO also recommended the improvement of data on LBW. Birth weight data were not available for nearly one-third or 39.7 million newborns in 2015 globally.

In the Philippines, birth weights were not indicated in the documents of about 19.3 percent of births in 2013. This is higher than the regional average in Southeast Asia of 14.9 percent.

The report also stated 54 countries— more than half from Africa and Oceania —had no data on birth weights. Most data on low birth weight come from the more developed countries—yet these countries account for just under 5 percent of all low birth weight deliveries in 2015.

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The Nation BusinessMirror

CA approves lawsuit related to 2013 Serendra explosion

By Joel R. San Juan @jrsanjuan1573

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HE Court of Appeals (CA) has given the Regional Trial Court in Taguig City to proceed with the trial of the P30-million damage suit filed by a businesswoman against Ayala-owned real-estate developer, Alveo Land Corp., as well as one of the country’s top construction company and a gas supplier in connection with the 2013 explosion at Two Serendra residential condominium that left four persons dead.

In a 21-page decision penned by Associate Justice Ronaldo Roberto Martin, the CA’s Eight Division affirmed the ruling issued by Taguig RTC Branch 271 Presiding Judge Paz Esperanza Cortes that denied the motion filed

by Alveo Land, Makati Development Corp. (MDC) and Bonifacio Gas Corp. seeking the dismissal of the complaint filed by Marianne Cayton.

The appellate court held there was no grave abuse of discretion on the part of the trial court when it refused to dismiss Cayton’s complaint.

Cayton is the owner of 501-B, which was badly damaged during the explosion occurred that probers said was due to gas leaks caused by “unauthorized movement” of a gas range during repairs and “negligence” of parties concerned.

Among those killed was Angelito San Juan, who was a tenant at Cayton’s unit when the incident occurred on May 31, 2013.

In seeking the dismissal of the complaint, Alveo Land, MDC and Bonifacio Gas insisted that Cayton failed to state a cause of action

against them considering that under Article 2179 of the Civil Code, the petitioner cannot claim for damages since she herself was the proximate cause of her injury.

The petitioners cited the interagency task force report that held the proximate cause of the gas leak was the unauthorized movement of the gas range in Cayton’s unit during its renovation.

However, the appellate court disagreed with the petitioners saying its their negligence that led to the explosion.

The CA noted that petitioners’ introduction of a new, highly sensitive LPG system in Two Serendra for the use of their tenants in their individual units without providing sufficient safeguards to prevent “occasional negligence” is still “an act of actionable negligence despite the intervening acts” on the part of Cayton and those that conducted the renovation of her unit.

“Obviously, Cayton and the other tenants of Two Serendra had no participation in the introduction or installation of the LPG system within the entire Two Serendra complex as the same was even part of the project’s selling point to their then prospective buyers,” the CA said.

“Petitioners’ negligence caused an explosion, which was caused by an LPG leak that went undetected for 13 hours, and for petitioners to shift the blame to the victim is only adding insult to Cayton’s injury,” it added.

Concurring with the ruling were Associate Justices Ramon Bato Jr. and Ramon Cruz.

29 pro-NPA Mindoreños surrendered—military

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TOTAL of 29 supporters and sympathizers of the New People’s Army have surrendered to security forces in San Jose, Occidental Mindoro, during the past two weeks, the military said.

Col. Marceliano Teofilo, commander of the Army’s 203rd Infantry Brigade who has operational jurisdiction over Mindoro island, said the rebel supporters are members of the Sangay ng Partido sa Lokalidad (SPL) and Milisyang Bayan (MB).

Teofilo said the SPL and MB are components of the Communist Party of the Philippines and the NPA, and were tasked as spies, foodstuff and tax collector and even “recruiters.”

Eighteen of those who surrendered are members of the Mangyan Buhid Tribe.

“The rebels decided to return to the fold of the law due to our relentless combat operations and CSP [community support programs] in the GIDAs [geographically isolated and disadvantage areas],” Teofilo said.

“Our troop deployment in Mindoro is continuous and we will not stop until the CPP-NPAs only option left is to surrender,” he added.

The surrenderees have undergone several CPP-NPA courses and lectures, the military said.

Police Regional Office 4B Direc-

tor Brig. Gen. Thomas Apolinario Jr. asked peace stakeholders in Mimaropa to continue supporting the campaign of the government in addressing the insurgency problem.

“I encourage all of the LGUs [local government units], stakeholders and peace-loving Mindoreños to continually cooperate and support our government,” he said. “Let us join our hands to protect our Mangyan IPs against these NPAs. Be with your Army and Police in achieving stable and genuine peace in our island.”’

Brig. Gen Elias Escarcha, acting commander of the 2nd Infantry Division, said the localized peace talks with the rebels and the Enhanced Comprehensive Local Integration Program (E-CLIP) are luring surrenderees in Regions 4A and 4B. “We will sustain our gains until they are defeated the soonest possible time. Rest assured that NPAs who desires to surrender will be processed to avail themselves of the E-CLIP,” he said.

The E-CLIP is the government’s incentive program for yielding rebels.

Under the program, a former rebel can receive P15,000 in immediate cash assistance, P50,000 in livelihood assistance, firearms remuneration and access to housing, loans, medical and legal assistance, among others. Rene Acosta

Editor: Vittorio V. Vitug • Monday, May 20, 2019 A3

OFW death prompts call for PHL to review labor deal with Kuwait

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By Samuel P. Medenilla

@sam_medenilla

OLLOWING the recent death of a Filipino household service worker in Kuwait, migrants’ rights advocates called on Manila to review a memorandum of understanding (MOU) with Kuwait.

In a text message, Blas F. Ople Policy Center Head Susan Ople said the Department of Labor and Employment (DOLE) should revisit the provisions of the accord to check possible gaps in its implementation by the Philippine and Kuwaiti government.

Migrante-Philippines agreed with

Ople in also demanding for a review of the MOU, which was supposed to have increased the welfare protection of Filipino HSWs in Kuwait.

Ople and Migrante-Philippines made the appeal in response to the gruesome killing of Constancia Lago Dayag, who died after suffering severe injuries allegedly inflicted by

her employer in Kuwait last week.

“The incident just proves that the [MOU] between Kuwait and the Philippines is useless [in protecting overseas Filipino workers],” Migrante-Philippines said in a statement. “It only regularized the cheap export of our female workers to Kuwait.”

No less than Labor and Employment Secretary Silvestre H. Bello III said they will be investigating the possible violation of the Kuwaiti government on the provision of the MOU with the death of Dayag.

Among the salient provisions of the MOU is that it requires Kuwaiti employers to allow OFWs to keep their passports and mobile phones. It also compels them to open bank accounts, where they will be depositing the salary of their Filipino employees.

Ople condemned the incident and

called on the Department of Foreign Affairs (DFA) to file charges against the people responsible for it.

“The savage manner by which Constancia was killed calls for relentless justice and unquestionable resolve to protect our OFWs,” Ople said.

“We condole with Constancia’s family,” she added. This gruesome crime should not be left unpunished and our sense of outrage should be felt by governments and citizens around the world.”

The Philippine-Kuwait MOU was signed last year as one of the conditions for the lifting of the country’s deployment ban in Kuwait.

The government imposed the deployment restriction after the reported recovery of the remains of Joanna Demafelis from the freezer of her employer’s home in Kuwait enraged President Duterte.

Authorities continue search Institutional issues plague mining for missing Beechcraft plane law implementation–PIDS study

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HE search for a missing Beechcraft Baron 55 trainer plane, which entered its third day on May 19, continues in the waters of Tablas Straight, spearheaded by Philippine Air Force (PAF) and Philippine Navy (PN) aircraft.

The twin-engine five-passenger Beechcraft Baron was reported missing last Friday after taking off from San Jose airport in Occidental, Mindoro, about 403 kilometers east of the country’s capital.

The Civil Aviation Authority of the Philippines (Caap) said the missing aircraft, registered as RP-C 078, is operated by Orient Aviation Corp.

On board were a Filipino pilot in command and a Saudi Arabian

student pilot.

Reports from the Caap said airtraffic control officials did not receive any warning from the pilot after it departed San Jose Airport at 8:13 a.m.

About 10 minutes later, the Caap air controller’s radar blip showed the aircraft at 16 nautical miles south of San Jose.

The PAF sent helicopters to join the search while the Navy send its Z310 Islander. The Coast Guard, meanwhile, sent vessels to search the shorelines of Mindoro.

Caap said they will soon release updates after its in-depth investigation of the missing trainer aircraft. Recto Mercene

Police: Beware of counterfeit money

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HE National Capital Region Police Office (NCRPO) called on the public on Friday to be wary of counterfeit money after the Pasay City police arrested three men for peddling fake currencies in casinos.

“We advise the residents to carefully examine their bills, so as not to be victimized by this illegal activity,” NCRPO Director Major Gen. Guillermo Eleazar told the Philippine News Agency (PNA). “We also call on the public to call the authorities for information that will lead to the arrest of those behind these counterfeit money.”

“Pinagbabawalsaatinangpaggamitng mgapekengperaattuloy-tuloynamanang mga ginagawa nating operation para sa pagkalap natin ng magandang impormasyon. [Use of fake money is prohibited and our operations, including information gathering, against this illegal activity continues],” he added.

The suspects—Fernando Silanga, 44, a dismissed police officer; Tiange Wu, 31, a Chinese national and casino junket operator; and Song Ho Sang, 53, a South Korean national—were arrested at the Resorts World Manila on Wednesday night.

Silanga was last assigned to the Eastern Police District in San Juan City. In 2009, he was charged with an administrative case, detained and released on bail. He was ordered demoted in April 2011 and was dismissed from the service in April last year.

The operation stemmed from a telephone call from the in-house security of RWM who reported that the three suspects allegedly attempted to transact using counterfeit currency. They were questioned and arrested after the complaint against them was verified.

Investigation disclosed that the fake money came from another South Korean suspect, identified as James Park, who is now the subject of follow-up operation.

Confiscated from the suspects were fake US dollar bills worth P287,700, which they tried to change into casino chips worth P15 million.

“We already coordinated this with the US Embassy for their assistance.

We also remind the public to be wary of transactions involving foreign currency,” Eleazar said. “When it doubt, show it to authorities to determine if these are genuine or not.” PNA

By Cai U. Ordinario @caiordinario

I

NSTITUTIONAL issues continued to plague the country’s implementation of mining laws, preventing the Philippines from maximizing the benefits of these policies, according to a Philippine Institute for Development Studies (PIDS) consultant.

In a PIDS Policy Note, titled “Challenges in the Philippine mining industry,” Eligia D. Clemente said these issues include inconsistencies in local and national policies as well as the lack of qualified personnel in the National Commission on Indigenous Peoples (NCIP).

Clemente said that despite safeguards put in place in the laws, audits conducted by the Department of Environment and Natural Resources (DENR) in 2016 found that several mining sites lacked environmental plans and suffered from denuded forests and silted rivers.

“The partner-agencies of the DENR in the implementation of PMA [Philippine Mining Act], such as the NCIP, are also reported to be suffering from institutional issues that affect the performance of their role in the mining sector,” she said.

Clemente, coordinator of the University of the Philippines-Diliman Mining Engineering program, said institutional issues such as overlapping functions when it comes to issuing permits leads to the circumvention of permits through illegal means and the destruction of the environment.

She explained that while some companies claim that the Mines and Geosciences Bureau (MGB) permit to operate is enough legal cover to cut trees in a mining area, the DENR insists that tree-cutting permits need to be secured.

In order to continue the mining operations and meet the requirements of the DENR, a company left

some of the trees standing in the mining site.

However, because of the stress, the trees died and, in order to remove the dead tree, the company secured a permit to cut it down. This permit was easier to secure than the permit to cut down healthy trees.

“This type of practice admittedly is more destructive since the cut tree is no longer listed as part of the number of trees to be replaced,” Clemente said.

In terms of protecting ancestral domain and giving the IPs their fair share of the profits of the mining operation, Clemente said the NCIP needs to assign certificates of ancestral domain titles (CADT).

The process starts from the verification of claim, survey and delineation of areas, and inventory of IPs. This involves qualified geodetic engineers to do surveys and lawyers to address arbitration cases.

However, Clemente said the NCIP doesn’t have enough employees to perform these functions. In fact, she said, only one region nationwide had a plantilla position for a licensed geodetic engineer, and nonlawyers are tasked to take on arbitration cases.

“These personnel issues need to be resolved immediately to efficiently deliver needed services, which comprise the first stage of the permitting process,” Clemente said.

“At this point, no further progress on the permitting can be expected until such time that the land ownership issues are resolved.”

The NCIP’s personnel issues spill over to providing assistance to IPs, particularly in planning for the proper use of funds received from mining companies. However, NCIP does not have enough qualified personnel to do this.

Due to this challenge, Clemente lamented that while there are many mining operations near or within ancestral domains of IPs, many of them have remained poor.

A4 Monday, May 20, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Deployment of OFWs no longer profitable for recruitment firms

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By Samuel P. Medenilla @sam_medenilla & Recto Mercene @rectomercene

EPLOYMENT of overseas Filipino workers (OFWs) is no longer as profitable as it used to be, forcing some local recruitment agencies to abandon their business.

In a statement, recruitment consultant Emmanuel S. Geslani said he was able to get reports of some licensed recruitment agencies, which are now being sold for low prices by their owners due to smaller profit margins.

“There is an ongoing fire sale,” Geslani said adding that deployment to the Middle East was down by 20 percent.

“Other agencies are contemplating to return their licenses to the Philippine Overseas Employment Administration [POEA], as the recruitment industry continues to absorb losses for the past years due to the declining market in the Middle East,” he said.

Geslani said the decision for local recruitment agencies to call it quits could be because of the declining market for OFWs in the Middle East.

“The previous benchmark price for fully accredited agencies that used to be in P10 million to P14 million has gone down to P6 million to P8 million including those agencies with provisional authority to operate and even agencies with cases are being eyed by some buyers,” Geslani said.

Thankfully, agencies catering to Household Service Workers (HSWs) sector continue to soar with over 200,000 domestic workers deployed to Saudi Arabia in 2018, he explained.

He said among the said agencies

that are now being sold are 10 medium-size establishments that send OFWs to the Middle East.

“I cannot give you names since it would be prejudicial for them,” Geslani told the BusinessMirror via SMS.

Foreign buying

RECRUITER Loreto B. Soriano confirmed that these firms are being bought by foreigners.

“Instead of being closed down, the said agencies are being bought

by Arab [nationals], who have agencies in the Middle East,” Soriano, the president of LBS Recruitment Solution Corp., said via SMS. He added that foreigners are allowed by law to own 25 percent of a recruitment firm. However, Soriano noted that some firms are able to circumvent this by having Filipinos acting as “dummies.”

The trend of selling recruitment firms is expected to continue until demand for OFWs abroad recovers.

The Department of Labor and Employment (DOLE) earlier projected the decrease in the deployment of OFWs in the Middle East will continue to persist in the coming years until the countries there resolve their economic woes.

Based on the latest figures of the POEA, the number of deployed OFWs abroad in 2017 dropped by 3.19 percent to 2 million, from 2.1

DENR. . . continued from a12 “It is a tedious process but that is

what the law prescribes,” RD Matias remarked. “We make sure all our actions are done in due process,” he pointed out.

Others checked, too

MEANWHILE, DENR team is also monitoring the rest of the business structures in El Nido by continuously checking their wastewater discharges.

“We have initial investigations done on other hotels and restaurants and we are just waiting [to see] if results of their effluent samples would merit issuance of a CDO,” Adornado said.

“Until these erring establishments have shaped up, we have no other choice but to enforce the law and stop them from polluting El Nido,” he said.

The ongoing rehabilitation of El Nido forms part of the strong directive of Environment Secretary Roy Cimatu to protect all bodies of water in the country so that the people

may enjoy their most beneficial use.

“We have long benefited from El Nido. It is about time we all realize that we have a shared responsibility to protect and save it from degradation so that we and the generations to come can still savor the beauty and natural resources that this wonderful island has to offer,” he said. Adornado said they continue to issue notices to business establishments for defying the order to vacate the areas they occupy in El Nido and Coron in Palawan Province, and Puerto Galera in Oriental Mindoro, as part of the massive rehabilitation effort of the government in tourism areas.

As of April 5, 2019, the DENR-Mimaropa has listed a total of 1,666 establishments and 1,207 households in the three tourist areas. Of these, 813 individual notices to vacate have been issued to easement violators. So far, only 129 have complied with the order.

Palace. . . continued from a1 “The President is in his residence at the Palace signing papers. I just talked to him, he is neither confirming nor denying that he went to the hospital,” Panelo added.

Presidential Security Group Spokesman Capt. Zeerah Blanhce Lucrecia also assured the public that “President Duterte is well and good.”

She added, “I hope you understand that due to security protocols, we cannot divulge the President’s location.”

As of Saturday and Sunday noon, Lucrecia said that no incident involving the President took place. The President’s former close aide and confidant Bong Go also said the rumor was not true.

Justice Secretary Menardo Gue-

varra, meanwhile, said he heard unverified information that someone from the opposition, and not the President, was brought to the hospital.

“What I heard was, it was someone from the opposition brought there. But that’s also unverified,” he said in a text message to the BusinessMirror.

The speculations were fanned by “reports” that Cardinal Santos’s perimeter was “on lockdown,” leading to conclusions that a “VIP” was confined there. However, a BusinessMirror source who was at Cardinal Santos at about the same time said the whole place was in “normal” mode and there was no lockdown. There was no visible stepping up of security arrangements at the hospital, the source added.

million in 2016.

Among the countries that registered the biggest decline in deployment in 2017 were the Kingdom of Saudi Arabia, United Arab Emirates and Singapore.

‘Saudization’ policy

GESLANI said the third phase of the “Saudization” policy has gone into effect as early as April 7, which will result into further losses in the government’s overseas employment hiring efforts.

The Saudi Ministry of Labor and Development identified the jobs affected are in the skilled sector, including supervisory and managerial positions mostly held

by OFWs. “These jobs are now reserved exclusively for Saudi nationals which will mean an estimated drop in new hires for the Kingdom will be as much as 100,000 OFWs,” he said.

Rehires from Saudi Arabia are also expected to drop by as much as 40 percent as Filipinos holding positions in these positions reserved for Saudi only will not be rehired at the end of their contract.

He added that some companies will reduce the number of expatriates to comply with the 70 percent nationals ruling.

Geslani said the Saudi Ministry of Labor announced the job types and activities limited to their nationals to include light-vehicle driver, director of tourism programs, director of the front office and director of staff relations, among others.

But while Qatar has been reported to slow down construction activities for the World Cup 2022, it continues to import more skilled workers at a slower pace for the new hotels and restaurants.

Geslani added that deployment of skilled workers is also expected to decline by 10 percent to 15 percent (about 80,000 to 100,000 potential jobs for OFWs), due to the

unstable price of crude oil.

“The volatile oil market has been the cause of the precarious financial situation of Saudi Arabia and other Middle East countries directly affecting their economies that will dampen business and government spending,” Geslani said.

Impact

SAUDIZATION refers to the Saudi nationalization scheme marked by replacing foreign workers with Saudi nationals through a quota policy.

With nearly half of the native population under the age of 25 and a national native unemployment rate of more than 12 percent, jobs for Saudis are a priority, he added Beginning in September, the Ministry of Labor and Social Development has expanded the policy to include 12 retail sectors, including automotive, apparel, kitchenware, electrical and electronics, and furniture stores. Businesses in these sectors now have to employ at least 70 percent Saudi nationals.

Saudization started in the 1980s and has largely been a success in public employment. In 2018, the public sector saw a 20-percent drop in expatriate workers compared to 2017. Saudi nationals now make up more than 95 percent of public-sector worker. The government aims to reach 100 percent by 2020.

In the private sector, however, results have been more modest— except in sectors like banking and telecommunications, where the authorities claim the 90-percent Saudization threshold has been crossed.

T he reduction of deployed HSWs in 2018 in addition to the lower forecast of OFW deployment this year will have a devastating effect on the country’s volume of dollar remittances, aside from the loss of employment opportunities for OFWs in the Middle East, Geslani said.

DOT. . . continued from a1

According to DOT’s Visitors Sam-

ple Survey for 2017, a copy of which was obtained by the BusinessMirror, shopping dominated the list of “other activities” enjoyed by tourists from the top 12 source markets of the Philippines, aside from their main purpose of holidaying here.

Of the 15,000 visitors surveyed, the data indicated that Indian tourists enjoyed the most shopping in the country (57.14 percent of their respondents); followed by tourists from Japan at 46.11 percent; Malaysia, 42.5 percent; Canada, 41.4 percent; Hong Kong, 39.1 percent; South Korea, 38.5 percent; the United States, 38.4 percent; Singapore, 37.8 percent; the United Kingdom, 34.2 percent; Australia, 32.7 percent; China, 29.2 percent; and Taiwan, 28.5 percent.

Overseas Filipinos, or those citizens with Philippine passports living abroad, excluding overseas workers, were also major visitors to retailers in the country, with 45.7 percent of their respondents indicating shopping as their top “other activity.”

As part of the “Malling is More Fun” campaign, mall goers are invited to participate in special activities in various SM malls all over the country. These activities include cooking demonstrations, regional food fairs, exclusive dining deals and the SM Supermarket Chefs Showdown.

In a press statement, SM Supermalls said brick-and-mortar establishments continue to be a venue for shopping for most Filipinos, compared to other countries, where online shopping is now the rule rather than the exception.

With over 70 malls nationwide, SM continues to serve as a venue for meaningful family bonding moments where everyone can indulge in extraordinary malling experiences, such as bowling,

ice skating, watching movies, pampering sessions or simply having fun with the kids in air-conditioned comfort.

“Malls have become the modern day plaza and safe community spaces for families and friends to share moments together through shopping, dining and fun experiences. SM’s partnership with the Department of Tourism (DOT) celebrates the best of the Philippines through a range of fun fairs and fiestas,” said Steven Tan, chief operating officer of SM Supermalls.

The campaign’s first leg invites mall goers to experience malling like never before at SM. Local celebrities and chefs will show off how they cook Filipino food favorites during culinary demonstrations. Shoppers can also travel across the regions with local dishes and delicacies featured at the regional food fairs, or score exclusive dining deals in participating restaurants. Aspiring local chefs will also compete at the SM Supermarket Chefs Showdown featuring Chefs Myrna Segismundo and Jill Sandique. The campaign lasts until May 26, 2019, in select malls nationwide.

The DOT has been partnering with the private sector to encourage more foreign and domestic tourists to travel in and around the Philippines. The agency’s goal is to attract 12 million foreign tourists to visit the Philippines, and over 89.2 million domestic travelers by 2022.

Its other partners in various foreign and domestic tourism campaigns are Cebu Pacific, Jollibee, Bench and Philippine Airlines.

SM Supermalls, which also operates eight malls in China, is a unit of the publicly listed SM Prime Holdings Inc. Shares of SM Prime closed at P39.10 per share on Friday, May 17, up 3 percent from Thursday’s close of P37.95 per share.

www.businessmirror.com.ph

Duque: Higher alcohol, tobacco taxes to fund Universal Health Care

By Ma. Teresa Montemayor Philippine News Agency

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EALTH Secretary Francisco Duque III has stressed the importance of passing the pending sin tax bills in the Senate to ensure sufficient funding for the Universal Health Care (UHC) program and improve health condition in the country.

In a press briefing at the Department of Finance, Duque said the DOH envisions the Philippines as one of the healthiest countries in South East Asia by 2040.

“This can only be done if we keep Filipinos healthy and we provide affordable health care to those who get sick, and these are the two main reasons why we need to increase tobacco and alcohol taxes once more,” he added.

More than being a means to raise funds, Duque said increased alcohol and tobacco taxes are a health measure which would keep Filipinos especially the youth away from smoking and drinking alcohol.

“It is harder for the youth to buy these harmful products for the youth when the prices of alcohol and cigarettes are higher. We can only reduce consumption by making these ‘sin’ products less affordable to consumers,” he said.

Noting that a million smokers quit in 2015 following the passage in 2012 of Republic Act 10351 (the Sin Tax Reform Law), Duque said the alcohol and tobacco taxes must be raised once more to stop putting the lives of 250,000 Filipinos at risk every year.

“The revenues gathered from sin taxes provide the much-needed financing to realize our health reforms. More people, especially the poor, are now covered by the national health insurance program and it enabled us to scale up our non-communicable disease (NCD) prevention program and to assist our tobacco farmers,” he said.

The DOH and Philheath need a total of P257 billion to improve

“This can only be done if we keep Filipinos healthy and we provide affordable health care to those who get sick, and these are the two main reasons why we need to increase tobacco and alcohol taxes once more.”—Duque

the health insurance coverage of all Filipinos and expand the benefit packages they provide.

“We need to secure sufficient and sustained resources to ensure that the health system will be set up and transformed as envisioned in the next 10 years,” said Duque, adding that President Rodrigo Duterte and the Cabinet members have approved the DOH’s proposal on increased alcohol and tobacco taxes.

Duque also urged civil society organizations, medical communities, and health advocates to continue supporting the DOH in its campaign against alcohol and tobacco.

“Three out of four Filipinos agree that tobacco taxes must be raised based on the recent Pulse Asia Survey. There is clearly a demand from the people to get this done,” he said.

There are still nine days remaining in the 17th Congress for the pending bills on increased alcohol and tobacco taxes to be passed.

According to the World Health Organization (WHO), the bills could reduce prevalence of tobacco use nationwide while providing additional revenue to fund the government’s UHC program.

The WHO said a tax of P90 per pack of cigarettes is projected to achieve the most substantial decline in the rate of people using tobacco.

“This translates to 14.5 percent by the end of the current administration’s term, from the 23.8 percent in 2015. A P60 increase, meanwhile, is expected to decrease the prevalence of tobacco use to 17.0 percent,” WHO said.

NEA lists recommendations for ailing Masbate co-op

By Lenie Lectura

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@llectura

HE National Electrification Administration (NEA) has laid down its recommendations to assist beleaguered Masbate Electric Cooperative Inc. (Maselco), following a directive from the energy department for the conduct of a performance assessment and audit on the struggling electric co-operative (EC).

The Department of Energ y (DOE) ordered an audit on Maselco early last month. It issued Department Order 2019-04-0011, which created a task force “to audit the system and performance of Maselco in order to assess the root cause of the problem and to ensure the quality, reliability, security and affordability of the supply within its franchise area in line with the total electrification program” of the government.

Maselco is one of the “underperforming, financially and technically distressed EC submitted by NEA to the DOE” in its December 2018 report.

The task force, according to the circular, shall conduct performance audit and assessment on Maselco, and make a recommendation to Energy Secretary Alfonso G. Cusi on the appropriate course of action.

The NEA said it already met with DMCI Masbate Power Corp. (DMPC) and Maselco representatives last April 30, barely three weeks after the DOE ordered the audit.

Discussed were the ongoing construction of coal thermal power plant, the installation of 5 Megavolt

Ampere (MVA) power substations for Cataingan and Uson, and the uprating of National Power Corp.

(NPC) 10MVA power transformer to 30MVA in Mobo.

NEA also recommended the establishment of substations in strategic locations to reduce system loss, improve power quality and reliability; review of power supply agreement; and, harmonization of projects, among others.

It also noted that Maselco has limited control and monitoring over its own facilities because the existing substations in Masbate were owned and operated by the NPC, as the transmission line provider, and DMPC (as lone power supplier).

The NEA also recommended for Maselco to apply early for its capital expenditure approval before the Energy Regulatory Commission (ERC), citing its importance “to address operational concerns” and “to sustain the gains of its improving operations.”

Maselco is currently under the leadership of Romeo V. Acuesta, whom the NEA designated as project supervisor and acting general manager last February 20, to ensure the continuation of the reforms initiated by the agency.

To recall, the NEA, which has supervisory powers over all ECs across the country, exercised its step-in rights and took over the operations and management of Maselco in 2017 following the latter’s failure to settle its overdue obligations to the DMPC.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, May 20, 2019 A5

Farm-gate price of unhusked rice up in May

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE average farm-gate price of unhusked rice in the first week of May recorded an increase for the first time in four months, according to the Philippine Statistics Authority (PSA).

In its “Updates on Palay, Rice and Corn Prices,” the PSA said the average palay quotation nationwide of P18.45 per kilogram, was 0.27 percent higher than the P18.40/kg in end-April. This is the first time since the fourth week of December that traders offered a higher price for local palay.

“On an annual basis, it dropped further by 12 percent from its previous year’s same-week level of P20.97 per kg,” the PSA added.

From May 1 to 7, the PSA observed the highest price of farmgate price in Northern Mindanao at P20.34 per kg. The PSA noted the lowest average palay buying price in Caraga at P15.81 per kilogram.

The average farm-gate prices of palay have been declining since January as traders feared that cheap imports will flood the country following the liberalization of the Philippine rice trade.

Despite the slight hike in farmgate prices, average quotations for both wholesale and retail prices of regular-milled and well-milled rice continued to go down during the period.

On a weekly basis, the average wholesale price of well-milled rice went down slightly to P39.55 per kg, from the previous week’s P39.72 per kg. It was also 3.9-percent lower than the average of P41.13 per kg recorded in the same

WORKERS collect unhusked rice grains that were dried along the highways of Arayat, Pampanga. The Philippine Statistics Authority reported that traders offered a higher price for palay for the first time in four months. LAILA AUSTRIA

period last year, PSA data showed.

“At the retail trade, the average price of well-milled rice at

P43.30 per kg decreased further by 0.5 percent during the week from its previous week’s level of

P43.52 per kg,” the PSA said.

“Similarly, it declined by 1.3 percent from the same period of

previous year’s level of P43.88 per kilogram,” the PSA added.

The PSA observed the same price trends in the average quotations of regular-milled rice nationwide.

“On the average, the wholesale price of regular-milled rice at P36 per kg fell by 0.5 percent compared with its previous week’s level of P36.18 per kg,” it said.

“Likewise, it posted a 4.5-percent decline compare with the same week of previous year’s level of P37.7 per kilogram,” it added.

At the retail trade, the average price of regular-milled rice fell by 0.5 percent to P38.97 per kg from P39.15 per kg in the previous week, the PSA said. The latest average quotation was 2.7 percent lower than the P40.04 per kilogram recorded in the same week last year, it added.

After harvesting rice from February to April, farmers are expected to start planting rice for the wet season this month.

The Department of Agriculture is targeting to produce 20 million metric tons of palay this year, nearly 5 percent higher than the 19.06 MMT produced in 2018.

Average price of 4 fertilizer Thailand on red alert in bid to stop grades higher in April–PSA African swine fever crossing border T T HE average dealers’ price of four fertilizer grades went up on an annual basis in April, according to the latest report by Philippine Statistics Authority (PSA).

In its “Updates on Fertilizer Prices,” the PSA noted that the price of urea rose by 16 percent to P1,153.59/sack. Compared to its month-ago level, the price was lower by 0.1 percent.

“Compared to the previous month’s levels, the average dealers’ prices of urea [in April] went down in nine regions,” the report read.

The PSA said the highest price of P1,396.67/sack was still recorded in the Autonomous Region in Muslim Mindanao (ARMM), while the lowest at P1,029.38/sack remained in Ilocos region. “Measured from a year-ago level, prices in all regions were higher this month.”

Complete, the PSA said, was also more expensive in April, as its average dealers’ price rose by 4.2 percent to P1,150.83/sack, from P1,104.09/sack a year ago. The latest figure was also higher by 0.2 percent compared to its month-ago level of P1,148.39/sack.

“On a monthly basis, price increases were noted in 9 regions.

The highest price of P1,436.67/ sack remained in ARMM, while the lowest at P1,036.69/sack was seen in Soccsksargen,” the report read.

“Compa red w it h t he sa me month of previous year, prices

in all regions exhibited increases [in April],” it added.

A s for a m mosu l, t he PSA said the average dealers’ price of P631.45/sack in April was 7.1 percent higher than last year’s P590/sack. On a monthly basis, the latest figure was slightly lower than the P631.60/sack recorded in March.

Compared to prices in March, the PSA said eight regions recorded lower prices in April. The lowest price of P552.50/sack was posted in Ilocos region, while the highest price of P960/sack was recorded in ARMM. “Relative to the same month of all previous year, all regions, except Calabarzon, registered highest prices during the month,” the report read.

The average dealers’ price of ammophos at P997.93/sack in April was 8.9 percent higher than the P916.15/sack recorded a year ago. The April figure was also higher by 0.6 percent compared to the previous month’s level of P991.84/sack.

On a monthly basis, the PSA said higher prices were posted in 10 regions in April. The highest price of P1256/sack was recorded in ARMM, while the lowest price of P827.50/sack was seen in Ilocos region.

“Measured from a year ago level, all regions exhibited higher prices during the period,” the report read.

T he PS A sa id it mon itors fer t i l i zer pr ices cover ing 80 provinces/cities, including Metro Manila. Data are from the Weekly Cereals and Fertilizer Price Monitoring.

In a previous study, stateowned think tank Philippine Institute for Development Studies (PIDS) attributed the uneven pricing of fertilizer to the country’s infrastructre constraints.

Titled “The Role of Mineral Fertilizers in Transforming Philippine Agriculture,” the study, prepared by PIDS Senior Research Fellow Roehlano M. Briones said infrastructure problems have made fertilizer prices expensive in some regions and cheaper in others.

The uneven pricing of fertilizer has also affected farm-gate prices, making some agricultural products more expensive than others, contributing to the unstable prices of food items.

“A more serious challenge is the persistence of apparent inefficiencies in fertilizer marketing, as seen in the large discrepancies in pricing across adjacent regions for the same product.

The fact that markets are competitive does not preclude inefficiencies in the fertilizer-supply chain at least in some areas, owing to poor transport infrastructure, weak logistics systems and low investments,” Briones said.

HAILAND, one of Asia’s top pork producers, is intensifying efforts to hold off a lethal pig virus that’s causing havoc as it spreads across the region.

African swine fever—a disease that kills nearly all the pigs it infects—has been spreading through Asia from China and Mongolia to Vietnam and Cambodia. Millions of pigs have been culled, creating a global protein shortage and saddling farmers and food businesses with billions of dollars in costs.

“We’re on red alert for the pig virus,” Anan Suwannarat, the permanent secretary in Thailand’s Agriculture Ministry, said in an interview. “We’re trying everything to prevent it from spreading to Thailand.”

Thailand has tightened inspections at airports and border checkpoints, cracked down on illegal slaughterhouses and traders, and imposed stricter requirements for reporting hog deaths. The authorities have detected contaminated pork products at airports and borders, but have not yet found any cases at farms.

China, the largest pork producer and consumer, has been trying to contain the outbreak since August.

But with no vaccine, the virus keeps spreading.

The strain of African swine fever spreading in Asia is undeniably nasty, killing virtually every pig it infects by a hemorrhagic illness reminiscent of Ebola in humans. It’s not known to sicken people, however.

Economic risk

VIETNAM, Southeast Asia’s biggest

HEALTH officials outside the Sheung Shui Slaughterhouse in Hong Kong, on May 13. PAUL YEUNG/BLOOMBERG

pork producer, discovered its first case in February. Cambodia—sandwiched between Vietnam and Thailand—reported its first infection less than two months later.

“Preventing the outbreak is our national agenda,” said Cheerasak Pipatpongsopon, the deputy director-general at Thailand’s Livestock Department.

“Even if it gets into the country, we’ll be quick in containing the outbreak to minimize the damage to the industry.”

The Agriculture Ministry has estimated an outbreak may cost the Thai economy more than $1 billion if over 50 percent of the country’s hogs are infected. That could reach nearly $2 billion if 80 percent are infected.

The Thai government last month approved a $4.7-million budget to pre-

pare the nation for a potential outbreak.

“No country is safe,” said Dirk Pfeiffer, a professor at the Department of Infectious Diseases and Public Health at the City University of Hong Kong.

“There’s a high risk of introduction of the virus for Thailand, as is the case for every country in the region and beyond.”

Thailandproducesover2millionhogs each year, and exports about 40 percent to Cambodia, Lao PDR and Myanmar.

It doesn’t import live hogs or pork meat, according to Cheerasak, and now visitors are not permitted to bring processed pork products into the country.

It has confiscated pork products at its airports and borders 550 times since August, detecting the virus 43 times, according to the Livestock Department. Bloomberg News

A6

Monday, May 20, 2019

The World BusinessMirror

US diplomats: Iran military could misidentify airliners amid tension

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UBAI, United Arab Emirates —Commercial airliners flying over the Persian Gulf risk being targeted by “miscalculation or misidentification” from the Iranian military amid heightened tensions between the Islamic Republic and the US, American diplomats warned on Saturday, even as both Washington and Tehran say they don’t seek war.

The warning relayed by US diplomatic posts from the Federal Aviation Administration, though dismissed by Iran, underscored the risks the current tensions pose to a region critical to both global air travel and trade. Oil tankers allegedly have faced sabotage and Yemen rebel drones attacked a crucial Saudi oil pipeline over the last week.

Meanwhile on Saturday, Iraqi officials said ExxonMobil Corp. began evacuating staff from Basra, and the island nation of Bahrain ordered its citizens out of Iraq and Iran over “the recent escalations and threats.”

However, US officials have yet to publicly explain the threats they perceive coming from Iran, some two weeks after the White House ordered an aircraft carrier and B-52s bombers into the region. The US also has ordered nonessential staff out of its diplomatic posts in Iraq.

President Donald Trump since has sought to soften his tone on Iran. Iranian Foreign Minister Mohammad Javad Zarif also stressed on Saturday that Iran is “not seeking war,” comments seemingly contradicted by the head of the Revolutionary Guard, who declared an ongoing “intelligence war” between the nations.

This all takes root in Trump’s decision last year to withdraw the US from the 2015 nuclear accord between Iran and world powers and

impose wide-reaching sanctions.

Iran just announced it would begin backing away from terms of the deal, setting a 60-day deadline for Europe to come up with new terms or it would begin enriching uranium closer to weapons-grade levels. Tehran long has insisted it does not seek nuclear weapons, though the West fears its program could allow it to build atomic bombs.

The order relayed on Saturday

by US diplomats in Kuwait and the UAE came from an FAA Notice to Airmen published late on Thursday in the US. It said that all commercial aircraft flying over the waters of the Persian Gulf and the Gulf of Oman needed to be aware of Iran’s fighter jets and weaponry.

“Although Iran likely has no intention to target civil aircraft, the presence of multiple long-range, advanced anti-aircraft-capable weapons in a tense environment poses a possible risk of miscalculation or misidentification, especially during periods of heightened political tension and rhetoric,” the warning said.

It also said aircraft could experience interference with its navigation instruments and communications jamming “with little to no warning.”

The warning comes 30 years after the USS Vincennes mistook an Iran Air commercial jetliner for an Iranian F-14, shooting it down and killing all 290 people onboard. That

IN this Thursday, May 16, 2019, photograph released by the US Navy, Aviation Boatswain’s Mate Airman Kayla Pettit operates a center deck station as an F-18 Super Hornet takes off from the USS Abraham Lincoln aircraft carrier in the Arabian Sea. On Saturday, May 18, 2019, US diplomats warned that commercial airliners flying over the wider Persian Gulf faced a risk of being “misidentified” amid heightened tensions between the US and Iran. MASS COMMUNICATION SPECIALIST 3RD CLASS JEFF SHERMAN, US NAVY VIA AP

was not lost on Iran’s mission to the United Nations, which dismissed the warning as America’s “psychological war against Iran.”

“There has never been a threat or risk to civilian air traffic in the Persian Gulf from Iran,” mission spokesman Alireza Miryousefi told The Associated Press. “One cannot forget the fact that it was indeed a US warship that wantonly targeted an Iranian civilian passenger aircraft.... The US has yet to apologize for that act of terrorism against Iranian civilians.”

The Persian Gulf has since become a major gateway for East-West travel in the aviation industry. Dubai International Airport in the United Arab Emirates, home to Emirates, is the world’s busiest for international travel, while long-haul carriers Etihad and Qatar Airways also operate in the region.

Emirates, Etihad and Qatar Airways all said they were aware of the notice and their operations were unaffected. Oman Air did not respond to a request for comment.

Speaking in China, where he finished a tour of Asian nations who

rely on Mideast oil, Zarif told the state-run IRNA news agency that war is not what Iran wants.

“No war will occur as neither are we seeking a war nor anyone else has the illusion of being able to fight with Iran in the region,” Zarif said.

Meanwhile, the head of Iran’s paramilitary Revolutionary Guard reportedly said the US and Iran already were in a “full-fledged intelligence war.” The semiofficial Fars news agency also quoted Gen. Hossein Salami using 9/11 as a metaphor for America’s political system, describing it on Saturday “like the World Trade Building that collapses with a sudden hit.”

It isn’t just air traffic affected.

Lloyd’s Market Association Joint War Committee added the Persian Gulf, the Gulf of Oman and the United Arab Emirates on Friday to its list of areas posing higher risk to insurers. It also expanded its list to include the Saudi coast as a risk area.

In Iraq, ExxonMobil began evacuating staff from Basra amid the tensions with Iran, two Iraqi officials told The Associated Press. Exx-

Australia’s ruling coalition wins 3rd term

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ANBERRA, Australia — Australia’s ruling conservative coalition won a surprise victory in the country’s general election on Saturday, defying opinion polls that had tipped the center-left opposition party to oust it from power and promising an end to the revolving door of national leaders.

“I have always believed in miracles,” Prime Minister Scott Morrison told a jubilant Sydney crowd.

He compared his Liberal Party’s victory for a third three-year term to the births of his daughters, Abbey, 11, and Lily, 9, who were conceived naturally after 14 years of in vitro fertilization had failed. His wife, Jenny Morrison, suffered endometriosis.

“I’m standing with the three biggest miracles in my life here tonight, and tonight we’ve been delivered another one,” he said, embraced by his wife and daughters.

Opposition leader Bill Shorten had earlier conceded defeat as the coalition came close to a majority in the 151-seat House of Representatives, where parties need a majority to form a government. Vote counting was to continue on Sunday.

“I’m disappointed for people who depend upon Labor, but I’m glad that we argued what was right, not what was easy,” Shorten told his supporters.

Shorten would have become Australia’s sixth prime minister in as many years. He said he would no longer lead Labor after

AUSTRALIAN Prime Minister Scott Morrison speaks to party supporters flanked by his wife, Jenny (second from left), and daughters Lily (right) and Abbey, after his opponent conceded in the federal election in Sydney, Australia, on Sunday, May 19, 2019. Australia’s ruling conservative coalition, lead by Morrison, won a surprise victory in the country’s general election, defying opinion polls that had tipped the center-left opposition party to oust it from power and promising an end to the revolving door of national leaders. AP PHOTO/RICK RYCROFT

six years at the helm. The tight race raised the prospect of the coalition forming a minority government. The conservatives became a rare minority government after they dumped Malcolm Turnbull as prime minister for Morrison in an internal power struggle last August.

The government then lost two seats and its single-seat majority as part of the bloodletting that followed.

An unpopular single-term Labor government that was voted out in 2013 had been the only previous minority government since World War II. Opinion polls prior to Saturday’s

election had suggested that the coalition would lose and that Morrison would have had one of the shortest tenures as prime minister in the 118-year history of the Australian federation.

Morrison had focused his campaigning on polling that showed while Labor was more popular than the government, the prime minister was more popular than Shorten.

There was so much public confidence of a Labor victory that Australian online bookmaker Sportsbet paid out 1.3 million Australian dollars ($900,000) to bettors who backed Labor two days before the

election. Sportsbet said 70 percent of wagers had been placed on Labor at odds of $1.16.

Another betting agency, Ladbrokes, said it had accepted a record AU$1-million wager on Labor.

Shorten, who campaigned heavily on reducing greenhouse-gas emissions, said on Saturday morning that he was confident Labor would win, but Morrison would not be drawn on a prediction.

Morrison is the conservatives’ third prime minister since they were elected in 2013.

Tony Abbott, who became the first of those three prime ministers in the 2013 election, conceded defeat in the Sydney seat he has held since 1994.

Polling suggests climate change was a major issue in that seat for voters, who instead elected an independent candidate, Zali Steggall.

As prime minister in 2014, Abbott repealed a carbon tax introduced by a Labor government. Abbott was replaced by Turnbull the next year because of poor opinion polling, but he remained a government lawmaker.

A maverick senator who blamed the slaughter of 51 worshippers in two New Zealand mosques on the country’s immigration policies also lost his bid for election.

Fraser Anning was the target of widespread condemnation for railing against Muslim immigration within hours of the mass shootings in the New Zealand city of Christchurch in March. AP

onMobil works in Basra at its West Qurna I oil field, which had been shut off for years from Western oil firms over sanctions levied on Iraq during dictator Saddam Hussein’s time in power.

The US Consulate in Basra has been closed since September after American officials blamed Iranaligned Shiite militias for a rocket attack on the post, which is inside Basra’s airport compound. Basra as a whole has been shaken by violent protests in recent months over entrenched corruption and poor public services, which earlier saw Iran’s Consulate there overrun and set ablaze.

ExxonMobil, based in Irving, Texas, said it declined to discuss “operational staffing.”

Iraq is Opec’s second-largest Arab producer, pumping some 4.5 million barrels of crude oil a day.

Separately, the State Department acknowledged an unidentified drone flew over the US Embassy in Baghdad on Thursday and the facility briefly went on alert, though it said the aircraft posed no threat. AP

www.businessmirror.com.ph

SA doesn’t want Iran war but will respond strongly

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AUDI ARABIA does not want a war with Iran but will respond “with strength and determination” if Iran decides to start one, a top Saudi official said on Sunday.

“We don’t want a war in any way, but at the same time we won’t allow Iran to continue its hostile policies toward the kingdom,” Minister of State for Foreign Affairs Adel AlJubeir told reporters in Riyadh early on Sunday morning. “We want peace and stability.”

Al-Jubeir began the press conference—called suddenly after midnight—by listing a series of terror attacks in which he said Iran had played a role over the past few decades. The Iranian government “is not looking for stability or security in the region,” he said, adding that Yemen’s Houthi rebels, supported

by Iran, had launched more than 200 missiles into Saudi Arabia over the past few years. The Houthis also were behind a drone attack on Saudi oil installations last week, in which the drones were supplied by Iran, he claimed.

The attacks on the two Aramco oil-pumping stations forced the temporary closure of an important east-west pipeline in the kingdom and added to growing friction in the Gulf, where the US has tightened sanctions against Iran, demanding it stop supporting militias across the Middle East, including the Houthis.

The Saudi pipeline has since reopened, but officials from all sides have warned that a string of recent events has left the region at risk of sliding into a potentially devastating international conflict.

“We won’t stand with our hands bound,” Al-Jubeir said. “The ball is in Iran’s court and Iran should determine what the path will be.”

The United Arab Emirates and other countries are still investigating attacks on several ships, including two Saudi vessels, in the United Arab Emirates last week, Al-Jubeir added.

“We have some indications and we will make the announcements once the investigations are complete,” he said. Bloomberg News

Tornadoes rake Southern Plains; more severe weather expected

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ALLAS—A spate of tornadoes raked across the Southern Plains, leaving damage and causing few injuries, and parts of the region were bracing for more severe thunderstorms and possible flooding.

The National Weather Service confirmed an EF2 twister on Saturday morning with winds up to 130 mph (209 kph) that destroyed at least two homes and left one person with minor injuries in southwestern Oklahoma.

A suspected tornado caused roof damage to “numerous” homes in northwestern Arkansas, a state official said, and severe winds downed trees and power lines across a highway, blocking all lanes.

Energy companies in Oklahoma and Arkansas reported tens of thousands of customers were without power on Saturday afternoon.

Tornadoes touched down on Friday in Kansas and rural parts of Nebraska, tearing up trees and powerlines, and

damaging some homes and farm buildings, according to the National Weather Service.

In Abilene, Texas, a city 150 miles (240 kilometers) west of Fort Worth, strong winds prompted the evacuation of a nursing home and left numerous homes and businesses damaged, according to the Abilene Reporter-News. A spokesman for the city said no deaths or serious injuries were reported.

The National Weather Service issued a tornado watch until 8 p.m. on Saturday for the western half of Arkansas.

Portions of North Texas also were under a tornado watch and a flash flood warning was issued in the Dallas area on Saturday afternoon.

Forecasters warned of heavy rain, lightning, pingpong ball-sized hail and flooding as a line of storms moves west to east through afternoon, covering an area from south of Killeen, Texas, to north of the Oklahoma state line. AP

WESLEY MANTOOTH lifts a wooden chair out a window of the home of his father, Robert, in Abilene, Texas, on Saturday, May 18, 2019. Many residents said a tornado struck in the early-morning hours. RONALD W. ERDRICH/THE ABILENE REPORTER-NEWS VIA AP

The World

Editor: Angel R. Calso

BusinessMirror

Monday, May 20, 2019

A7

China’s ban on scrap imports a boon to US recycling plants

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LBANY, New York—The halt on China’s imports of wastepaper and plastic that has disrupted US recycling programs has also spurred investment in American plants that process recyclables.

US paper mills are expanding capacity to take advantage of a glut of cheap scrap. Some facilities that previously exported plastic or metal to China have retooled so they can process it themselves.

And in a twist, the investors include Chinese companies that are still interested in having access to wastepaper or flattened bottles as raw material for manufacturing.

“It’s a very good moment for recycling in the United States,” said Neil Seldman, cofounder of the Institute for Local Self-Reliance, a Washington-based organization that helps cities improve recycling programs. China, which had long been the world’s largest destination for paper, plastic and other recyclables, phased in import restrictions in January 2018.

Global scrap prices plummeted, prompting waste-hauling companies to pass the cost of sorting and baling recyclables on to municipalities. With no market for the wastepaper and plastic in their blue bins, some communities scaled back or suspended curbside recycling programs.

New domestic markets offer a glimmer of hope.

About $1 billion in investment in US paper processing plants has been announced in the past six months, according to Dylan de Thomas, a vice president at The Recycling Partnership, a nonprofit organization that tracks and works with the industry.

Hong Kong-based Nine Drag-

ons, one of the world’s largest producers of cardboard boxes, has invested $500 million over the past year to buy and expand or restart production at paper mills in Maine, Wisconsin and West Virginia.

In addition to making paper from wood fiber, the mills will add production lines turning more than a million tons of scrap into pulp to make boxes, said Brian Boland, vice president of government affairs and corporate initiatives for ND Paper, Nine Dragons’s US affiliate.

“The paper industry has been in contraction since the early 2000s,” Boland said. “To see this kind of change is frankly amazing.

Even though it’s a Chinese-owned company, it’s creating US jobs and revitalizing communities like Old Town, Maine, where the old mill was shuttered.”

The Northeast Recycling Council said in a report last fall that 17 North American paper mills had announced increased capacity to handle recyclable paper since the Chinese cutoff.

Another Chinese company, Global Win Wickliffe, is reopening a shuttered paper mill in Kentucky. Georgia-based Pratt Industries is constructing a mill in Wapakoneta, Ohio, that will turn 425,000 tons of recycled paper per year into shipping boxes.

Plastics also has a lot of capacity coming online, de Thomas said, noting new or expanded plants in Texas, Pennsylvania, Califor-

nia and North Carolina that turn recycled plastic bottles into new bottles.

Chinese companies are investing in plastic and scrap metal recycling plants in Georgia, Indiana and North Carolina to make feedstocks for manufacturers in China, he said.

In New Brunswick, New Jersey, the recycling company GDB International exported bales of scrap plastic film such as pallet wrap and grocery bags for years. But when China started restricting imports, company president Sunil Bagaria installed new machinery to process it into pellets he sells profitably to manufacturers of garbage bags and plastic pipe.

He said the imports cutoff that China calls “National Sword” was a much-needed wake-up call to his industry.

“The export of plastic scrap played a big role in facilitating recycling in our country,” Bagaria said. “The downside is that infrastructure to do our own domestic recycling didn’t develop.”

Now that is changing, though he said far more domestic processing capacity will be needed as a growing number of countries restrict scrap imports.

“Ultimately, sooner or later, the society that produces plastic scrap will become responsible for recycling it,” he said.

It has also yet to be seen whether the new plants coming on line can quickly fix the problems for municipal recycling programs that relied heavily on sales to China to get rid of piles of scrap.

“Chinese companies are investing in mills, but until we see what the demand is going to be at those mills, we’re stuck in this rut,” said Ben Harvey, whose company in Westborough, Massachusetts, collects trash and recyclables for about 30 communities. AP

Minister: Opec+ job isn’t done

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FFORTS by Opec and its allies to balance the global supply and demand of oil aren’t complete because crude inventories continue to rise, according to United Arab Emirates Oil Minister Suhail Mohammed Al Mazrouei.

“The job is not complete,” Al Mazrouei told reporters in the Saudi Arabian city of Jeddah. “We are still seeing some inventory buildup and we need to attend to it.”

Saudi Arabia, Russia and other oil producers in a global coalition are meeting in Jeddah this weekend to consider whether they’ll need to continue keeping supplies restrained during the second half of the year. While US President Donald Trump’s squeeze on Iran’s oil exports threatens to cause a shortage, the producers are wary of opening the taps too soon. Global supplies are also strained by a crisis over contaminated Russian crude and simmering geopolitical tensions from Venezuela to Libya.

Oman’s oil minister, Mohammed Al Rumhi, said the producers will stick to their policy of limiting production as “there is no need to take any action.” Saudi Arabia’s Energy Minister Khalid Al-Falih said in an interview with Reuters that Opec will respond to the oil market’s needs despite uncertainty about whether there is an oil shortage, particularly given the United States’s building inventories.

Delegates said Opec+ is likely to approve an extension of the current supply cuts until the end of the year, while allowing Saudi Arabia to increase output to its agreed quota, if necessary. The kingdom has been overcomplying with the cuts, giving room for some gains by other producers.

Opec+ compliance for April was 168 percent, according to other delegates.

“The global inventories, particularly in the US inventories, are high and are still rising, which suggests that there is no lack of supplies,” said Sara

Vakhshouri, head of Washington, D.C.-based consultant SVB Energy International.

The Organization of the Petroleum Exporting Countries will fill any supply gaps that may emerge from tighter sanctions on Iran, Al Mazrouei said. “If there is a need to attend to any shortage in the market we will do it, but we don’t see that.”

Officials from Opec+, as the coalition between the group and its allies is known, are due to attend the Joint Ministerial Monitoring Committee meeting on Sunday to assess the market.

They won’t make a decision on whether to extend production cuts until the full group meets in June in Vienna, Al Mazrouei and Azerbaijan’s Energy Minister Parviz Shahbazov said.

“During this JMMC the main challenge for the members is to find out how much Iran’s formal and especially the informal oil sales in the grey market would be,” Vakhshouri said. Bloomberg News

Singapore dollar weakens amid trade war

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HE Singapore dollar is poised to weaken further as the escalating trade war between the world’s two largest economies weighs down growth in the exportdependent city-state.

Poor export data that landed on Friday underscore the downward pressure on the currency’s nominal effective exchange rate, which has quietly crept away from the upper end of the band that monetary policy-makers use to keep Singapore on an even keel.

With no deal in sight between the US and China, revised gross domestic product figures due Tuesday are the next thing to watch for clues on the trajectory of the Singapore dollar, which has slipped about 1 percent this month.

“Given the small size of the Singapore economy and the subdued outlook in the electronic sector, risk is for more weak economic data to come,” said Frances Cheung, head of Asia macro strategy at Westpac

Banking Corp. “Potentially weak data may push MAS expectations toward a more dovish side.”

Larger declines in other Asian currencies caught in the cross fire between China and the US has deflected attention from the simmering signs of weakness in the Singapore dollar. A closer look shows that sixmonth forward discounts on the greenback against the currency narrowed to the tightest level in 16 months last week. Bloomberg News

Green Monday BusinessMirror

A8 Monday, May 20, 2019

www.businessmirror.com.ph • Editor: Lyn Resurreccion

Palawan’s tourist magnet, home to endangered ‘pawikan,’ many more species

Saving El Nido and its rich biodiversity Story & photo by Jonathan L. Mayuga @jonlmayuga

T

here is more to El Nido in Palawan than its beautiful landscape and seascape.

A f i rst- c l a ss mu n ic ipa l it y known for its crystal-clear waters and breath-taking island scenery, El Nido is home to a diverse species of birds, fish and amazing marine wildlife that adds value to ecotourism.

Also known for its stunning coral reefs and colossal limestone cliffs, El Nido is rich in biodiversity.

Unfor t u n ately, dec ades of neglect and unsustainable tourism practices are threatening to destroy El Nido, a good reason it is now the subject of massive rehabilitation by the Depa r t ment of Env i ronment and Natural Resources (DENR).

Protected area

Covered by this captivating town is the El Nido-Taytay Managed Resource Protected Area, which also includes portions of the nearby Taytay town.

Established by virtue of a presidential proclamation signed by then-President Joseph Estrada on October 8, 1998, the El NidoTaytay protected area is considered one of the largest marine sanctuaries in the Philippines.

It is approximately 90,321 hectares, where 36,018 hectares is terrestrial, while 54,303 hectares comprise the coastal and marine areas. It is shared by 18 barangays from the municipality of El Nido and three from the municipality of Taytay.

The protected area also covers a total of 1,442 hectares of mangrove area, 2,00 hectares of seagrass and 2,000 hectares of coral reef.

The highest peak in the protected area is on Cadlao Island, with an elevation of 640 meters. Spotted with karst limestone formations, the islands and the mainland El Nido is unique in many ways.

Before being declared a protected area, El Nido is previously covered by conservation measures aimed at protecting this beautiful town from destructive development projects and activities.

Ad m inist rat ive Order 518 signed in 1984 established a 360-square-mile maritime area in El Nido as a turtle sanctuary.

El Nido is one of the eight priority areas of the National Integrated Protected Areas Program (Nipap).

Beautiful lagoons

Within the El Nido-Taytay protected area are some of the tourist

attractions being showcased by tourism officials of the municipality of El Nido and the provincial government of Palawan.

These include the Big Lagoon and Small Lagoon, the Secret Lagoon, all in Miniloc Island, and the Cadlao Lagoon in Cadiao Island.

Known as the country’s last ecological frontier, Palawan is a major source of wild-caught fish in Luzon.

According to the area’s biodiversity profile released by the DENRMimaropa region, a total of 197 species of fish species belonging to 28 families have been recorded within the area.

Commonly found species of fish within the area are damselfish, parrotfish, triggerfish, butterflyfish, angelfish, wrasse, g rouper, snapper, rabbitf ish, goatfish and barracudas. But often, sharks can also be found in its famed Bacuit Bay.

Marine turtle haven

Even before the establishment of the protected area, El Nido’s islands and islets are hosts to five of the seven marine turtles—the green sea turtle, hawksbill turtle, olive ridley, leatherback and loggerhead turtle.

El Nido is also frequented by dolphins and whales. Some of them have been recorded by the DENR, such as the bottlenose dolphin, spinner dolphin, bryde’s whale and humpback whale.

The rare sea cows, locally called dugongs, are also found in the seagrass areas of Barangay Corongcorong, Manlag and Aberawan.

Birds and fish sanctuaries

El Nido is known to host a number of native birds, including those that are identified with Palawan, such as the Palawan blue flycatcher, Palawan flowerpecker, Palawan tit and Palawan hornbill.

Two endemic species can be found in El Nido’s Taraw Cliff— the Amorphophallus natolii, and Amorphophallus salmoneus.

Besides the protected area, there are seven locally managed fish sanctuaries and marine protected areas (MPAs) that give marine ecosystems in El Nido double protection. These are the Mitri Island, Dilumacad Island, in Barangay Buena Suerte; Depelder Reef in Barangay Corong-corong; Masagana MPA in Barangay Masagana; Tres Marias, Guintongaoan/Turtle Island in Barangay

A motorized boat loaded with passenger-tourists approach the mouth of Big Lagoon in El Nido, Palawan.

Bebeladan; and Cagbatang MPA in Barangay Pasadeňa.

An outdoor laboratory

Henry Adornado, regional executive director of Mimaropa, said being rich in biodiversity, El Nido is ideal for the conduct of scientific research.

Ador nado, a for mer director of the Ecosystems Research and Development Bureau, said he had already appealed to the Department of Tourism to fund a study that will determine El Nido’s carrying capacity.

Such study will entail a cost of not less than P5 million, which will help policy-makers come up with better rules and regulations without compromising El Nido’s ecological integrity.

He said El Nido offers biologists a great learning experience given its unique island ecosystems and the surrounding coastal and marine areas.

“It is rich in terrestrial and marine biodiversity. It has a lot of secrets waiting to be uncovered,” he said in Filipino.

Pollution, human encroachment

C arol E smenda , El Nido Taytay protected area assistant protected area superintendent, said El Nido’s water is deterio-

rating owing to pollution caused by direct discharge of untreated wastewater from the mainland.

Worse, developments, such as the construction of break walls in the beach to protect resorts, is seriously threatening marine turtles, El Nido’s flagship species.

Esmenda said in an interview with the BusinessMirror on May 14 that because some locals are selling their properties to foreign investors, El Nido is experiencing a construction boom, with or without necessary permits, even within the supposedly protected area.

This, she said, is causing a lot of distress to El Nido’s already threatened terrestrial and coastal habitats.

“Because of development in the beaches, like human encroachment, marine turtles are unable to find their way back to their nesting grounds. Marine turtles have this unique characteristic that they go back to where they were hatched to lay eggs,” she explained in Filipino.

Some locals, she said, are also reportedly consuming turtle eggs, and some egg gatherers are secretly selling them to tourists.

P10-M Ipaf

Esmenda, however, is confident that stronger protection will soon be put in place for protected areas

If you are an environment lover, the landscape, El Nido is really beautiful. If we can maintain its beauty, it will be of great benefit to the people in El Nido.”—Adornado

with the approval of their work and financial plan that will utilize the P10 million in revenues generated by the park.

The fund is from the automatic Integrated Protected Area Fund (Ipaf) which allows the protected-area management to retain 75 percent of the revenues they generated in the operation of a protected area.

“Last December we came up with the work and financial plan, and [it] was approved, so we are hoping to hire more park rangers to protect the park,” she said, confiding that the protected are has only two boats, one of which is already unserviceable.

She said they plan to hire 10 more park rangers and hopefully, acquire even small motorized boats to strictly enforce a policy guided by 2015 carrying capacity study on the maximum number of boats to be allowed operating in El Nido.

“Before, we only ask favors from the Philippine Coast Guard and LGUs [local government units] for us to use their boats because it is also part of their mandate. Hopefully, with our Ipaf, we can have our own boats and more rangers to protect the park,” she said.

According to Esmenda, the park rangers will also help create the ecotourism rules and regulation, so as to ensure the protection and conservation of El Nido’s threatened wildlife.

Easement rules violation

Records from the DENR-Mimaropa Office revealed a serious violation of the easement rule in El Nido. Of the combined 603 commercial and residential units

inventoried by the DENR in the area, 285 are commercial establishments, while 318 are households. So far, 496 violators of easement rules have been issued a notice to vacate, representing 82 percent of the total number of inventoried buildings.

According to Adornado, the DENR continues to issue notices to vacate to violators of the easement rules. Of those issued with notices to vacate, 99 owners of these commercial and residential establishments have so far complied with the order.

Adornado said the DENR with the help of experts from the Mines and Geosciences Bureau (MGB) and the Environmental Management Bureau (EMB) are determined to enforce environmental laws, particularly the Philippine Clean Water Act of 2004.

He sa id water sa mples a re being col lected f rom out fa l ls a nd t hose t hat fa l l below accepted st a nd a rd in ter ms of col i for m bac ter i a depend i ng on the g rav it y of the v iolation.

Some establishments, he said, are issued with a notice of violation, while some have already been issued a cease-and-desist order, effectively stopping their operation, pending compliance of corrective measures.

“Some establishments are already putting up their own wastewater-treatment facilities, and some are already connecting to sewer lines,” he said.

Saving El Nido

According to Adornado, saving El Nido’s rich biodiversity by strictly enforcing environmental laws and regulating tourism will ensure sustainable tourism that will benefit communities.

Compared to Boracay, Adornado said the problem besetting El Nido is a lot more manageable with ample budget.

He said enforcing environmental laws entails costs outside the regular budget of the DENR, and sometimes require the expertise of DENR personnel from other units such as the MGB. He said going island to island, patrolling the vast territory and going resort to resort requires manpower, as well as logistics to mobilize people.

Adornado said El Nido boasts of unmatched natural beauty.

Its landscape, the beaches, its pristine waters make it a tourist magnet. Keeping it that way, he said, will be the only way for the communities to continue enjoying nature’s bounty.

“If you are an environment lover, the landscape, El Nido is really beautiful. If we can maintain its beauty, it will be of great benefit to the people in El Nido,” he said.

Revival of forests key to survival of Philippine Eagle M

ore delay in the much-needed rehabilitation of forests paired with the rampant deforestation in many parts of the country may further endanger the population of the Philippine eagle, which is already struggling to keep its numbers alive.

On the average, a Philippine eagle pair needs about 4,000 to 11,000 hectares of forest land to survive in the wild, depending on the number of prey items in the area. But with the rapid loss of Philippine forests, the struggle to survive is harder than ever.

Since the 1900s, more than 70 percent of Philippine forests have been lost to make way for urban and commercial developments.

The International Union for Conservation of Nature lists the Philippine eagle as one of more than 400 plant and animal species that

face the threat of extinction. Today, only 400 pairs of Philippine eagles are left in the wild.

In 2012, it joined the list of 17 critically endangered birds in the Philippines, along with the Philippine cockatoo, rufous-headed hornbill and Sulu bleeding heart.

Haribon Foundation, together with Birdlife International, reported that habitat loss in the form of rapid disappearance of Philippine forests and conversion of wetlands to other uses, is the No. 1 threat to Philippine bird species.

“The problem is twofold. While we are aware of the problem that our national bird is facing the brink of extinction, this stems from the deeper issue that we are losing our forests,” Haribon COO Maria Belinda de la Paz said.

According to the Forest Management Bureau of the Department of Environment

and Natural Resources (DENR), almost 47,000 hectares of forest cover are lost every year.

This means that only 32.6 percent of the total forest cover remains from the original forest cover, which the country had in the past century.

Some 1.2 million hectares of deforested lands of the country need to be rehabilitated three years from now, according to the DENR. Hence, it is high time for the government and the private sector to strengthen their mutual thrust in conserving and rehabilitating Philippine forests, which could help save the Philippine eagle.

But the merits of having the apex predator thriving in the country does not end on prestige alone. Considered an “umbrella species” by The Peregrine Fund, “conserving Philippine eagles and their

habitat automatically provides protection for all the other plants and animals that live there, too.”

“Saving the Philippine eagle could lead to a chain of events which will ultimately lead to a better environment for the Philippines,” de la Paz said.

The loss of forested areas is mainly due to commercial developments and their conversion to major thoroughfares. Road construction close to forests means higher deforestation rates as access opens up avenues for forest resource extraction and land conversion. This poses a serious threat to Philippine birds, especially the globally threatened as they predominantly occupy lowland forests.

Rapid climate change also directly affects the survival rate of the remaining Philippine

eagles. It severely strikes avifaunal diversity in the Philippines, where almost 30 percent of bird species are endemic.

BirdLife International warns that over the next 40 years, the habitats of restricted range birds will continue to be unsuitable due to climate change, attributing this problem to drastic shifts in temperature and rainfall.

Many species may not survive under these harsh conditions.

This problem is even more aggravated due to the geography of the Philippines.

As an archipelago with over 7,000 islands, the threat of extinction of the many islandendemic, restricted-range fauna is high.

This problem should be faced with proactive resolutions from the government, in partnership with advocacy groups, and private companies. Rehabilitation

of degraded forest lands and a stricter enforcement of illegal logging bans are encouraged to ensure the survival of species such as the Philippine eagle.

“But saving the Philippine eagle does not only mean preserving Philippine biodiversity, this contributes to the global environment as well,” de la Paz reminded.

Since 2014, Haribon Foundation has been addressing this problem through The Philippine Eagle Project. This campaign has started from the early days of the Haribon Society, and has now increased knowledge and understanding of the biological and ecological characteristics of haring ibon in the Sierra Madre.

With support from international and local sponsors alike, Haribon fights to prevent the extinction of the Philippine national bird.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, May 20, 2019

Editor: Lyn Resurreccion • www.businessmirror.com.ph

A9

Asean in forefront of conservation

UN report: Save species from extinction

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ne million plant and animal species are facing extinction due to human activities, with agriculture as one of the biggest threats to Earth’s biodiversity and ecosystems.

This summarizes the findings of the Global Assessment Report on Biodiversity and Ecosystem Services by the Intergovernmental SciencePolicy Platform on Biodiversity and Ecosystem Services (IPBES).

Backed by the UN, IPBES is the intergovernmental body which assesses the state of biodiversity and of the ecosystem services it provides to society, in response to requests from decision makers.

The report, which was released early this month during the IPBES meeting in Paris, is the most comprehensive ever completed, the first intergover nmental report of its kind, and builds on the landmark Millennium Ecosystem Assessment of 2005.

The report said about 75 percent of land and 66 percent of oceans have been “significantly altered” by people, driven in large part by the production of food. Crop and livestock operations currently coopt more than 33 percent of Earth’s land surface and 75 percent of its freshwater resources.

The report identified agricultural activities as some of the largest contributors to human emissions of greenhouse gases. They account for roughly 25 percent of total emissions due to the use of fertilizers and the conversion of areas, such as tropical forests, to grow crops or raise livestock, such as cattle.

Agricultural threats to ecosystems will only increase as the world’s population continues to grow, according to the report.

Other notable findings of the report include: n Land degradation has reduced the productivity of 23 percent of the global land surface; up to $577 billion in annual global crops are at risk from pollinator loss; and 100 million to 300 million people are at increased risk of floods and hurricanes because of loss of coastal habitats and protection. n In 2015, 33 percent of marine fish stocks were being harvested at unsustainable levels; 60 percent were maximally sustainably fished, with just 7 percent harvested at levels lower than what can be sustainably fished. n Plastic pollution has increased tenfold since 1980; 300 million to 400 million tons of heavy metals, solvents, toxic sludge and other wastes from industrial facilities are dumped annually into the world’s waters; and fertilizers entering

coastal ecosystems have produced more than 400 ocean “dead zones.” n Negative trends in nature will continue to 2050 and beyond in all of the policy scenarios explored in the report, except those that include transformative change—due to the projected impacts of increasing land-use change, exploitation of organisms and climate change, although with significant differences between regions. n The next biggest threats to nature are the exploitation of plants and animals through harvesting, logging, hunting and fishing; climate change; pollution and the spread of invasive species. The average abundance of native plants, animals and insects has fallen in most major ecosystems by at least 20 percent since 1900 because of invasive species. n An estimated 5 percent of all species would be threatened with extinction by 2 degrees Celsius of warming above preindustrial levels—a threshold that the world could breach in the next few decades, unless greenhouse-gas emissions are drastically reduced.

The Earth could lose 16 percent of its species if the average global temperature rise exceeds 4.3°C. Such damage to ecosystems would undermine global efforts to reduce poverty and hunger and promote more-sustainable development.

During a news conference launching the summary of the report, Anne Larigauderie, IPBES executive secretary, said biodiversity should be at the top of the global agenda alongside climate change, as the two are the biggest threats to human and species survival.

Robert Watson, IPBES chairman, said, “Without transformative changes to the world’s economic, social and political systems to address this crisis, the IPBES panel predicts that major biodiversity losses will continue to 2050 and beyond. We are eroding the very foundations of our economies, livelihoods, food security, health and quality of life worldwide.”

In an interview by Science Magazine with Dr. Theresa Mundita S. Lim, executive director of the Asean Centre for Biodiversity (ACB), about the impact of the new IPBES report, Lim said, “The global assessment provides useful figures and case illustrations that will allow policymakers all over the world, including in the Asean member-states (AMS),

to better visualize the state of the world’s and Asean’s biodiversity and natural resources, and their impacts to human survival.

“The report also provides good rationale, as well as suggestions for developing national, regional and global policies and actions that can address gaps and guide future work that may possibly improve or reverse current situations.”

As the final version of the report will be released at the end of the year, Lim suggested some areas for improvement.

“Though capacity-building measures and policy support continue to be vital for various national agencies and implementing entities involved in biodiversity conservation, there remains a need to generate and present the science and scientific assessments necessary for policy development and corresponding actions.

Lawmakers and leaders will respond to data and information that can directly link biodiversity loss to human well-being and survival,” she said.

Lim added that to enable any country to continue to progress, but at the same time protect its rich and unique biological resources, consolidated information serving as sound basis for making decisions on trade-offs, and striking the balance between conservation and development, would be a most useful contribution that a body like IPBES can provide.

“The report needs to be broad enough to encompass various national and regional situations. More details will still have to be generated and provided later on, which should be able to support specific on-the-ground actions. Thus, assessment may have to eventually be scaled down at the regional and at the country level,” Lim suggested.

Lim added the report will guide the AMS, supported by the ACB, in

developing recommendations for the Post 2020 Global Biodiversity Framework.

“The IPBES report is very timely as the Parties to the Convention on Biological Diversity (CBD) are currently in the process of developing a global biodiversity framework that will succeed the Aichi Biodiversity Targets after 2020,” she explained.

She reported that the AMS have already conducted two consultative sessions, the first in Manila in April, and the second in Lao PDR, this month, where representatives of the AMS called for a more quantified goal on maintaining ecosystem integrity, with a clear set of spatial indicators and a clear agreement on the level of commitment among them.

The report emphasised that the world needs transformative change if life on Earth is to be safeguarded and people are to continue to receive the services and benefits that nature provides.

On this issue, Lim said the Asean consultation participants agreed on: 1) transboundary cooperation which considers internal boundaries, not just regional; 2) linkages among pillars, such that cross-sectors should be part of the action plans with flexible mechanisms to allow different sectors to be engaged in each other’s activities; and 3) transformation of mindset, such that Asean may be aware of what it can provide to the region, given its myriad of challenges post-2020.

“The AMS have already identified an overarching vision for biodiversity in the Asean region that we hope to achieve by 2050. Our vision is more descriptive, suggesting that there needs to be quantifiable targets that will preserve and enhance ecosystem integrity in the Asean region.

“We also discussed possible tools and measures which may be used to achieve the vision for 2050. These include: 1) mainstreaming biodiversity; 2) resource mobilization; 3) communication, education and public awareness; and 4) integrating diverse perspectives,” Lim reported.

She agreed with the report’s recommended actions for sustainability and pathways for achieving them across and between sectors such as agriculture, marine systems and freshwater systems, among many others.

In agriculture, the report emphasised the promotion of good agricultural and agroecological practices; multifunctional landscape planning, which simultaneously provides food security, livelihood opportunities, maintenance of species and ecological functions; and crosssectoral integrated management.

In marine systems, the report highlighted the ecosystem-based approaches to fisheries management, spatial planning, effective quotas, marine protected areas, protecting and managing key marine biodiversity areas, reducing run-off pollution into oceans, and working closely with producers and consumers.

In freshwater systems, policy options and actions include more inclusive water governance for collaborative water management and greater equity; better integration of water resource management and landscape planning across scales; promoting practices to reduce soil erosion, sedimentation and pollution run-off; increasing water storage; promoting investment in water projects with clear sustainability criteria; as well as addressing the fragmentation of many freshwater policies.

Lim said the AMS are already implementing some of the report’s

recommendations, specifically on protected areas and the campaign against overutilization of resources.

For example, the Asean Heritage Parks Programme manages a regional network of representative protected areas to generate greater collaboration among AMS in preserving their shared natural heritage.

As part of Asean’s campaign against overutilization of resources, some AMS, supported by ACB and Germany, are implementing a project promoting biodiversity-based products as an economic source for the improvement of livelihoods and biodiversity protection.

She added that the ACB and the AMS are currently preparing the third edition of the Asean Biodiversity Outlook, which will complement the IPBES report.

It will focus on the status of biodiversity and ecosystems in the Asean region and the conservation achievements, actions and next steps for the AMS in ensuring the conservation of biodiversity and ecosystems.

Lim said the report’s recommendations will further guide the AMS in enhancing its current conservation programs and crafting new policies and programmes that will further strengthen Asean actions on protected areas, ecosystem services, species conservation, invasive alien species, mainstreaming biodiversity in different sectors, ecosystem restoration, access and benefit sharing, communication and knowledge management for biodiversity conservation.

These and future programs will ensure the conservation of the region’s biodiversity and ecosystems, as the Asean region is in the forefront of global conservation and sustainability, serving as home to 20 percent of the world’s known plant and animal species. Rolando A. Inciong/ACB

PHiLippine govt needs to invest in environmental R&D D

espite being tagged as a biodiversity hot spot, the economic and ecological potential of the country’s indigenous plant species remains untapped, as the majority of its flora have yet to be discovered and studied.

There is a huge potential in the Philippines’s indigenous plants, according to the United Nations Development Programme (UNDP), placing a net present sustainable bioprospecting value of Philippine forests at approximately $36 million annually in perpetuity.

However, the sad reality is this—there is a dire need for the government to allocate more budget into environmental research and development (R&D) to buttress its conservation of native trees and their protection from deforestation.

Biodiversity, when managed effectively, entails significant national economic growth, according to the UNDP. More than half of

the country continues to depend on the Philippines’s natural resources for livelihood.

Thus, protecting these natural resources in all fronts—including the R&D of native trees for better understanding and appreciation—is highly imperative and is nonnegotiable.

Native trees are species that are naturally found in specific regions. Trees that are native to a country attract more fauna, including birds and insects, since they are already in tune with the environment. A lot of knowledge on native trees come from indigenous communities, who use these plants for various purposes, such as their healing properties.

However, there is a threat to the existence of native trees, as urbanization and rapid deforestation continues despite calls from various environmental groups here and abroad.

A 2011 study by Conservation International placed the Philippines as one of the most

threatened forest hotspots in the world, with only 7 percent remaining of its original habitat.

The country has lost more than 90 percent of its original forest habitat, which is home to more than a thousand endemic species.

Data from the Department of Environment and Natural Resources (DENR) showed that around 99 plant species are critically endangered, 187 are endangered, 176 are vulnerable and 64 are threatened.

“Most of our natural resources, especially native trees, remain untapped. We have a lot of unknown flora that are lost to rapid deforestation and illegal logging.” Biodiversity Finance Initiative (Biofin) Philippines Project Manager Anabelle Plantilla said. “These trees can have properties useful for various industries, yet we are not able to study them because by the time research institutions get funding, the species are wiped out.”

According to the Convention on Biological Diversity, the Philippines is one of the most biodiverse countries in the world, owning two-thirds of the Earth’s biodiversity. The country ranks fifth in the world in terms of numbers of plant species, housing 5 percent of the world’s flora.

“Additional funding for research focused on native trees is badly needed. We want to put more importance on the need for more funding directed toward the conservation of our local biodiversity,” Plantilla said.

With a P27.14-billion budget for the year, the DENR has allotted at least P6 billion for its flagship forest-protection program, the Enhanced National Greening Program (ENGP).

Despite this, the Philippines still lags in terms of environmental research in the world.

According to the United Nations Educational, Scientific and Cultural Organization (Unesco)

Institute of Statistics, only 0.1 percent of the country’s GDP is dedicated to research and development, and an even smaller amount is allotted to research on the environment.

Unesco recommends for a country to allot at least 1 percent of its GDP toward environmental research and development.

Biodiversity Finance Initiative (Biofin), a project implemented by UNDP in 36 countries that aims to address biodiversity finance gaps, supports this recommendation as investments in R&D could lead to better management of natural resources, including native trees, which are all prone to rapid deforestation.

Restoration is a main action in the forestry sector under the Philippine Biodiversity Strategy and Action Plan (PBSAP), the country’s road map for biodiversity conservation.

Based on the costing done by Biofin, the investment need for reforestation in the

Philippines is at P57 billion from 2015 to 2028.

Together with coral-reef restoration, implementation of green sanitation technology, vulnerability assessment, rehabilitating areas with infested with invasive alien species, and mainstreaming of PBSAP into local and national plans, the prospective returns include: carbon sequestration worth P453 billion; food security for at least 1.3 million fishers and their families; and reef fisheries, tourism and willingness to pay for biodiversity associated with coral reefs worth P200 billion/year.

“We should invest in our native trees, in our biodiversity, we have so much yet we take it for granted,” Plantilla said. “We’re missing a lot by not paying attention to our native species and to our forests. If we continue to damage and exploit our natural resources, there will be grave consequences not only to our environment, but also to our economy.”

A10 Monday, May 20, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

China’s first trade war remembered

N

ATIONS are a collection of individuals, each of whom has ancestors, experiences and memories. All of those people through history form the collective conscience and identity of nations as a whole. A person can be traumatized at a very early age—being frightened by a large dog, for example—and carry that experience for the rest of his or her life. Countries are the same.

The world views China as an upstart nation that has only come to economic power and political influence in the last two decades or so. In fact, for hundreds of years until the 19th century, China’s economy was the largest in the world while being a net exporter, posting trade surpluses with the West. China’s gross domestic product was reduced by one-half by 1861.

Construction of the Old Summer Palace—known in Chinese as the “Gardens of Perfect Brightness”—began in 1707. On October 18, 1860, 3,500 British troops set fire to the 350-hectare complex, which took three days for its destruction. Today, visitors to the ruins are greeted with signs constantly reminding the Chinese people “Wu Wang Guo Chi”—“Never Forget National Humiliation.”

For nearly 200 years, the British had run a large trade deficit with China by importing vast quantities of silk, porcelain and tea.

The Chinese government refused to offer more trading access to the Chinese markets, which the British, Dutch and French wanted.

To offset this imbalance, opium—long used by a small number of rich Chinese—was smuggled into China from large production sites in British India. Addiction became so widespread that the Daoguang Emperor, rejecting proposals to legalize and tax opium, asked Queen Victoria to stop the illegal trade. When that failed, the Chinese government seized without compensation some 1.2 million kilos of opium from British warehouses in Canton.

The British government responded by invading China, and quickly defeated the Chinese military. The first Opium War ended with the Treaty of Nanking in 1842, which forced China to open its markets, required reparations for the seized opium and ceded Hong Kong Island to the British.

After 1842, the French (the Treaty of Whampoa) and Americans (the Treaty of Wanghia) forced China into “unequal treaties” regarding trade. The British as well unilaterally “renegotiated” the Treaty of Nanking with provisions, such as English-language versions of all treaties taking precedent over those written in Chinese.

The second Opium War ended in October 1860 through a series of treaties legalizing the opium trade and giving Western powers effective control over the Chinese economy.

The Global Times newspaper wrote last week in a Chineselanguage editorial carried by Xinhua News Agency: “The trade war in the US is the creation of one person and one administration, but it affects that country’s entire population. In China, the entire country and its people are being threatened. For us, this is a real ‘people’s war.’” Chinese President Xi Jinping knows exactly what he is doing by invoking Wu Wang Guo Chi. So do the Chinese people.

Navigating the gig economy Atty. Jose Ferdinand M. Rojas II

RISING SUN

A

LOT has been said and written about how the gig economy is taking industries by storm and that the number of people jumping into the freelancing/consulting bandwagon is bound to swell in the years to come. As a result, companies are starting to embrace the new work setup and employing freelancers for certain projects. For one thing, this arrangement saves the companies huge amounts of money, offers greater flexibility and establishes clearer ROIs. On the other hand, studies and experience show that there is higher turnover among freelance workers as contract periods are relatively shorter and workers are not bound by regular salaries and benefits. Security and confidentiality also need to be considered because it is more

The Miranda doctrine Atty. Lorna Patajo-Kapunan

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difficult and costly to keep things tight while working with a number of contractors.

Having said this, it is more important for organizations to strike a balance between keeping a regular set of full-time employees and hiring remote workers, since there are

LEGALLY SPEAKING

‘Y

OU have the right to remain silent” is a phrase familiar to anyone who watches police or courtroom dramas. Recited by police before they interrogate suspects, the admonition is the direct result of one of the best-known and most controversial decisions in the United States Supreme Court’s history, Miranda v. Arizona (384 US 436).

Ernesto Miranda, then 23, was arrested in 1963 in Phoenix, Arizona, after the kidnapping and rape of a young woman. He denied any involvement at first, but after two hours of police questioning, he confessed. Police did not tell Miranda that he had the right to have an attorney present, so at trial his lawyer said the confession should not be admitted into evidence. It was, and he was convicted.

Miranda’s appeal reached the Supreme Court at a time when the justices were increasingly sympathetic to the rights of criminal defendants.

In siding with Miranda, the court majority invoked the Fifth Amendment to the Constitution, which said that no criminal suspect could be forced by government to be “a witness against himself.”

As for Miranda, he was tried and convicted again, without using the confession against him. In 1976, Miranda was murdered in a fight at a Phoenix bar. Some news reports stated that he had several “Miranda cards,” containing the police warning

his case had inspired, in his pocket when he died.

Chief Justice Earl Warren, penned the Majority Opinion quoted hereunder: “Our holding will be spelled out with some specificity in the pages which follow, but briefly stated, it is this: the prosecution may not use statements, whether exculpatory or inculpatory, stemming from custodial interrogation of the defendant unless it demonstrated the use of procedural safeguards effective to secure the privilege against self-incrimination. By custodial interrogation, we mean questioning initiated by law-enforcement officers after a person has been taken into custody or otherwise deprived of his freedom of action in any significant way. As for the procedural safeguards to be employed, unless other fully effective means are devised to inform accused persons of their right of silence and to assure a continuous opportunity to exercise it, the following measures are required. Prior to any questioning, the person must be warned that

changes that are inevitable. We are definitely heading toward that direction, but leaders need to balance out the equation by carefully considering the business interests, systems, and nature of both industry and organization. It’s a fact that technology favors the gig economy in terms of communication and work processes. Additionally, companies need to stay ahead of the game by hiring specialists who, incidentally, are moving more toward setting up their independent practice.

Now if you have decided to hire freelancers, you need to carefully determine the specific skill sets you need before putting out an ad.

If there are tasks that your in-house resource can provide, don’t hire for overlapping jobs. If you are fully digital, then you have more options because the world belongs to you.

Your contractors don’t necessarily have to be located in your area; this way, you can go after real talent even if that talent lives and works

in another continent.

Next, talk to your IT and HR departments to set up the necessary infrastructure to manage your hires.

Equipment; access to the office, data and its resources; payment terms and other benefits; organizational policies and contracts; performance of work and deliverables; and your legal obligations are just some of the more important details that need to be considered.

If you are a wise manager or employer, you understand that freelancers, even if they are essentially independent workers, also wish to grow, expand and become successful like everyone else. For the keepers, you might want to consider providing them opportunities for growth and success. It is always wise to keep the talented, highly professional workers with great working attitude who already understand the ins and outs of your business, rather than to always be trying out new workers you are not familiar with.

he has a right to remain silent, that any statement he does make may be used as evidence against him, and that he has a right to the presence of an attorney, either retained or appointed. The defendant may waive effectuation of these rights, provided the waiver is made voluntarily, knowingly and intelligently. If, however, he indicates in any manner and at any stage of the process that he wishes to consult with any attorney before speaking, there can be no questioning. Likewise, if the individual is alone and indicates in any manner that he does not wish to be interrogated, the police may not question him. The mere fact that he may have answered some questions or volunteered some statements on his own does not deprive him of the right to refrain from answering any further inquiries until he has consulted with an attorney and thereafter consents to be questioned.

The “Miranda” ruling has been adhered to by our Philippine Supreme Court in several cases (People v. Villamor, L-41493, December 14, 1981; People v. Alegria, GR 80764, September 26, 1990; etc.). This doctrine has been amplified by the New Constitution (Article III, Bill of Rights, Section 14) under which the counsel to be provided the accused must be competent and independent, and must be one preferably of his (accused’s) own choice. If the accused cannot pay his counsel because of poverty, he must be given with one (who is competent and independent) for free a case of de oficio counsel). These rights (right to be informed to remain silent and right to counsel) cannot be waived except in writing (contemplating

an express waiver) and in the presence of counsel. The incompetence of counsel may be shown by the surrounding circumstances (as when he failed to take legal steps ordinarily expected of a counsel of ordinary intelligence) and when it is proven that such counsel is incompetent (or is not independent), any confession made by the accused even with the supposed assistance of such kind of counsel may be inadmissible in evidence. The counsel must assist actively the accused. Thus, it was ruled that any confession obtained from a suspect in the absence of counsel and without his assistance shall be inadmissible in evidence against him (People v. Alegria, GR 80764, September 28, 1990). The only exception is where the right to counsel is categorically waived, and such waiver is made in writing and in the presence of counsel.

At the time a person is arrested, it shall be the duty of the arresting officer to inform him of the reason for the arrest, and he must be shown the warrant of arrest, if any.

He shall be informed of his constitutional rights to remain silent and to counsel, and that any statement he might make could be used against him. The person arrested shall have the right to communicate with his lawyer, a relative or anyone he chooses by the most expedient means—by telephone if possible— or by letter or messenger. It shall be the responsibility of the arresting officer to see to it that this is accomplished. No custodial investigation shall be conducted unless it be in the presence of counsel engaged by the person arrested, by any person See “Kapunan,” A11

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Opinion

The joy of human labor

Ohana

BusinessMirror

James C. Pascual

Siegfred Bueno Mison, Esq.

DEBIT CREDIT

THE PATRIOT

N recent weeks, the remarks of Jack Ma, founder of e-commerce giant Alibaba, sparked controversy when he defended the “996” labor practice—working from 9 a.m. until 9 p.m. for six days a week—as a “huge blessing.” This view supported such work schedule as an opportunity for people to exert more time and energy to attain success. Nevertheless, the Chinese billionaire clarified that to do overtime is an offshoot of passion and happiness being found on such endeavor. His comments later on suggested that to work overwork is the resolve of the employee rather than a mandate of the employer.

INCE childhood until today, my daughter Regina Victoria’s favorite fictional character is Stitch, which is a genetically engineered blue koala-like robot purposely created to cause chaos in the 2002 Disney movie, Lilo and Stitch. Through Lilo’s belief in Ohana, meaning family, Stitch eventually transformed from a reckless and destructive creature to a family loving pet “dog”.

My daughter’s favorite is one of the movie’s iconic lines: “Ohana means family—no one gets left behind, and no one is ever forgotten.” Family ties can either be by blood or by choice.

I

This work arrangement may easily find acceptance to those in the early stages of their careers and who have the youthful vigor, patience and stamina to endure extended hours of work. Count in those who are determined to spend longer time in their work, trading off their social calendars for lucrative positions in a corporate hierarchy, bigger paychecks or even brighter career prospects. And perhaps, add those who simply desire to discover delight in such undertaking.

Yet, any idea of work, be it prompted by self-motivation, requirement, or something else, easily resonates to all of us not because it is this month of May when we celebrate Labor Day nor it is this tropical summer when we are offered a good holiday break to pause, reflect and unwind from work. It is because work is a familiar concept—our lives are built up from work every day. As highlighted by Pope John Paul II in Laborem Exercens, work is a “universal calling,” in which we are created with a vocation to work. Reflecting on this social encyclical, there is a wide spectrum of reasons why we have to view our work above the customary objective sense, of it beyond being a mere duty for us to make a living.

We are called to realize that work is a “mark of our humanity” which distinguishes us from the rest of creatures. Through it, we are exercising our capability of being rational and achieving fulfillment as a human being. In my article published in this column last year, I underscored the special dignity of human work. I discussed then the subjective dimension of work being an act of a dynamic worker and a human person. Accordingly, it is in this

Kapunan. . .

continued from A10

on his behalf, or appointed by the court upon petition either of the detainee himself or by anyone on his behalf. The right to counsel may be waived, and shall not be valid unless made with the assistance of counsel. Any statement obtained in violation of the procedure herein laid down, whether exculpatory

subjective side that gives dignity to our work and precludes us to be regarded objectively as commodities or meek tools for the production of goods or delivery of services. After all, we are led to realize that “work is for man and not man for work.”

We are also called to develop a fresh perspective of work and a novel way of proceeding: we are being part of building a just and humane society. As long as we provide goods and services that ultimately help improve the quality of our lives, regardless of whether we work in our executive rooms, cubicles, coworking spaces, production sites, or any workstations, we are all in the service of nation building.

In and through work, we become stewards of the resources for the next generation. We share in the continuous process of creation and support in generating sustainable wealth for those who will come after us. This presupposes that our work is healthy and sustainable as we strike a worklife balance, following the context by which Jack Ma’s earlier remarks were founded.

By viewing our work creatively and differently, no matter how we are obliged and destined to toil, we may wake up and live each day with joy and renewed sense of purpose.

James C. Pascual is an assistant vice president for Corporate Finance at St. Luke’s Medical Center.

He holds an MBA from Ateneo de Manila University Graduate School of Business where he previously served as the external vice president of the Student Council.

This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com.

or inculpatory, in whole or in part, shall be inadmissible in evidence.

(People v. Penillos, et al., GR 65673, January 30, 1992).

The Miranda doctrine has been honored more in breach than in observance by our police officers. We live in dangerous times when the suspect is shot/killed even before arrest.

Sadly, “the right to remain silent,” these days, is taken literally and to its extreme—silenced forever has become the norm!

S

In the Mison family, my father makes it a point that his children and grandchildren stay connected even though some of them are based abroad. His chosen families —soldiers from the 14th Infantry “Avenger” Battalion as well as his Customs family—also stay connected by way of reunions. In the same vein, when I left the Bureau of Immigration in 2016 after five years as a public servant, I feel blessed as some of my former colleagues still manage to gather in fellowships from time to time.

Despite the lapse of time and our different workplaces, we remained

connected during birthdays and other social events. We recently celebrated the birthday of my former staff and former student in law school, KL So Chan who recently passed the Bar examinations. I am blessed to have this second family, as most of them have ventured to other companies after their respective stints in government service.

Some family is not by blood.

What matters the most is how the heart reacts to whoever we are with.

It has been said many times, once a family, always a family. So whenever my family, either by blood or by choice, gets together, there is

BLOOMBERG VIEW

A

SK any small Indian firm how long it takes to get paid by larger companies, what kind of a runaround they’re given, what devilish excuses they encounter on the way and you’ll wonder how they remain in business.

The answer is simple: They raise cash by borrowing against the value of property.

Such advances are tailor-made for the entrepreneur. A term loan for business expansion sometimes comes bundled with a working capital limit, all of it backed by the entrepreneur’s residential or commercial property, preferably self-occupied

and in a big city.

Conceptually, there’s nothing wrong here. Peruvian economist Hernando de Soto’s key insight was that poor countries become rich when their toiling masses have clean, marketable titles to property they can mortgage to start businesses.

The problem with the Indian loan against property is more to do with

In loving and adoring Stitch, my daughter Regina Victoria has taught me in her unique and subtle way how families should stay together. In the workplace and in our homes, let’s all remember that family is an integral part of who we are and what we stand for.

That’s Ohana! fellowship as well as thanksgiving.

In the Bible, 1 Thessalonians 5:16-18 tells us, “Rejoice always, pray continually, give thanks in all circumstances; for this is God’s will for you in Christ Jesus.” In all family gatherings, we should be mindful that every moment spent together is a blessing from above. I am truly at my comfort zone whenever I’m with them as I am equally thankful for just having the opportunity to be in their presence.

Author Mario Puzo said, “The strength of a family, like the strength of an army, is in its loyalty to each other.” In the recently concluded elections, we saw some political families supporting each other and united in victory, such as the Cayetanos. On the other hand, some political families practically fought each other and suffered defeat, such as the Binays

and Estrada/Ejercito. As a result of the lack of Ohana, some family members in these political families lost in their electoral bids. Some familyowned businesses need to be united as well for corporate survival. There is strength in unity; weakness in disharmony. Business empires have fallen due to family misunderstandings and disagreements, mostly due to pride, jealously, greed and disloyalty.

All families have to be reminded of Romans 12:15-16, which says, “Rejoice with those who rejoice; mourn with those who mourn. Live in harmony with one another. Do not be proud, but be willing to associate with people of low position. Do not be conceited.”

Hollywood actor Michael J. Fox said, “Family is not an important thing. It’s everything.” Family will always be there to help, no matter the costs. Some families need to learn from Lilo in terms of converting a rebel family member like Stitch to a loyal and supportive one.

In loving and adoring Stitch, my daughter Regina Victoria has taught me in her unique and subtle way how families should stay together. In the workplace and in our homes, let’s all remember that family is an integral part of who we are and what we stand for. That’s Ohana!

For questions and comments, please e-mail me at sbmison@gmail.com.

China just doesn’t want to be like the West Michael Schuman

BLOOMBERG VIEW

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HEORIES abound for why the US-China trade talks collapsed into stalemate, from misplaced overconfidence on the part of Beijing to President Donald J. Trump’s calculation that a tariff fight will boost his reelection chances. It helps to look beyond the political maneuvering and consider China’s history.

Throughout its 500-year relationship with the West, Beijing has sought to profit from its wealth without truly embracing its ideals and norms. That long-standing ambivalence is playing out in trade negotiations today, and probably doomed them before they even got under way.

The notion that China can be turned “Western” has been the mainstay of US foreign policy toward Beijing since President Richard Nixon held his famous 1972 meeting with Mao Zedong. But the thinking goes back much further. In the 18th century, the European powers, frustrated

by Chinese trade practices, wanted the Qing Dynasty to adopt its economic principles, too. Back then, China was more than happy to trade porcelain and tea for silver, but the court tightly controlled such exchanges. That seemed unfair to merchants who desired free trade. In 1793, the British

sent a mission led by Lord Macartney to Beijing to plead for market opening and other reforms.

But Macartney’s refusal to perform the standard, obsequious kowtow before the emperor enraged protocol-obsessed mandarins. The emperor sent Britain’s King George III a condescending letter rejecting the requests. “How can our dynasty alter its whole procedure and system of etiquette, established for more than a century, in order to meet your individual views?” he asked.

The Qing never willingly accepted Western-style trade and diplomatic practices. They were bombarded into it—literally, by the cannon fire of the Opium Wars in the mid-19th century.

Only then did China open wider to foreign commerce and culture, and begin to accept European-style stateto-state relations.

Resistance, though, hasn’t been China’s only response. Beginning in

The mystery of India’s vanishing working capital Andy Mukherjee

Monday, May 20, 2019 A11

the lenders than the borrowers. Like with most credit creation in India in the past few years, banks have ceded space even here to nonbank, or shadow, lenders.

Shadow lenders got cheap funds from wholesale markets, including mutual funds. They gave credit to small businessmen who then refinanced their loans even more cheaply by going to another shadow lender.

(I noted in January 2017 that yields on loans against property had fallen by 300 basis points in just 12 to 18 months.)

Trouble started when the sudden bankruptcy last year of infrastructure financier-operator IL&FS Group triggered a crisis of confidence and raised funding costs for India’s shadow lenders. Since then, the ultimate borrower has been hit by a triple whammy of higher interest rates, fewer refinancing options and a souring of sentiment among

The problem with the Indian loan against property is more to do with the lenders than the borrowers. Like with most credit creation in India in the past few years, banks have ceded space even here to nonbank, or shadow, lenders. Shadow lenders got cheap funds from wholesale markets, including mutual funds. lenders about the collateral. Realestate valuations are under stress because developers, which themselves need large dollops of refinancing, aren’t getting any.

It used to be that entrepreneurs would take out loans for 10 years to 15 years against property and refinance them in three to five. Now they can’t, so defaults are rising.

the late 19th century, Chinese intellectuals, reformers and revolutionaries came to believe the country had to become more like nations such as Britain and the United States. As the Qing Dynasty tottered, these thinkers saw salvation in copying overseas institutions and practices—such as a constitution, elected assemblies and Western-style schools. Still, debate raged over how westernized China had to become. Some argued that merely buying Western guns and learning its new technology would be sufficient; China’s core institutions didn’t have to change. Others saw China’s traditions as outdated and backward. Only wholesale adoption of foreign ideas could rebuild its greatness.

It’s ironic that the trade talks fell apart near the 100th anniversary of the May Fourth Movement. Named after student protests on that day in 1919, the term signifies a wider campaign to change Chinese society.

“I would much rather see the past culture of our nation disappear than see our race die out now because of its unfitness for living in the modern world,” Chen Duxiu, one of the founders of the Chinese Communist Party, wrote in 1915.

This spirit carried into the 1980s.

Under China’s pro-market reforms, the country adopted free enterprise, invited in overseas investment, heeded Western economists and joined institutions such as the World Trade Organization. No less a figure than Hu Yaobang, the party’s general

secretary, suggested that Chinese should eat with knives and forks rather than chopsticks.

But wariness of the West never went away, and as China’s economic might has grown, so has its determination to chart its own course. On the global stage, President Xi Jinping has pushed Chinese alternatives to the Western world system, such as his Belt and Road infrastructurebuilding program. At home, Xi has emphasized the role of the state over greater liberalization, and promoted traditional Chinese culture and philosophy to ward off unwanted ideas such as democracy.

This love-hate attitude is playing out in the trade talks. On the one hand, Beijing realizes it benefits from being part of the current USled global order. On the other, Beijing isn’t willing to embrace that order fully and accept its norms.

The Trump administration faces the same frustrations as 18th century British traders. With his tariffs and threats, Trump is effectively saying: OK, China, if you won’t follow our rules on your own, we’ll just have to force you. It may appear unfair that China won’t reciprocate the openness that many in the West hold so dear. Arguably, the Chinese economy would be better off if it did.

That doesn’t mean China will.

Trump’s attempt to force its hand will fail, no matter how high he raises tariffs. Washington has to learn to deal with the China it has, rather than the China it would like to see.

India Ratings and Research Pvt, a unit of Fitch Ratings Inc., saw delinquencies beyond 90 days increase to 1.77 percent in January 2019 from 1.05 percent in January 2018. If these numbers appear low that’s only because the loans that get turned into securities (and are seen by rating firms) are of higher quality. Riskier borrowers, who pawn their homes to more adventurous lenders, are faring far worse.

TransUnion CIBIL, a credit registry, put the size of India’s loansagainst-property market at the end of last year at 3.84 trillion rupees ($55 billion). However, growth in origination of new loans, in money terms, crashed from 54 percent in the final quarter of 2017 to 11 percent in the three months through September, when IL&FS blew up. It may have fallen further since then. Slower origination means even more defaults in future because stressed borrowers

won’t get refinancing so easily.

And borrowers are stressed. Car and sport-utility vehicle sales in India had their worst slump in almost eight years in April. Even soap and biscuit makers are struggling to eke out volumes. These are big, publicly traded companies, whose first response in tough times is to shorten their own working capital cycle by lengthening it for their suppliers— the smaller firms. The response of a government that’s desperate to boost its tax kitty will also be to delay refunds to firms in the supply chain.

A $55 billion source of working capital slipping out of the reach of small firms will trigger a chain reaction. Investors aren’t prepared for it. As India watchers wait for May 23 to see who gets elected as the next prime minister, probably the bigger question is what comes next for finance. Someone will have to fix this broken engine, and quickly.

2nd Front Page BusinessMirror

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www.businessmirror.com.ph

DENR stops operations of 10 El Nido sites

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By Jonathan L. Mayuga

@jonlmayuga

S part of the continuing effort to rehabilitate El Nido, one of Luzon’s top tourist attractions, the Department of Environment and Natural Resources (DENR) has issued cease and desist orders (CDOs) against 10 hotels and restaurants for polluting Bacuit Bay in El Nido, Palawan.

T he CDOs, issued starting Wednesday, were signed by Atty.

Michael Drake Matias, regional director of the Environmental Management Bureau-Mimaropa.

Issued CDOs were El Nido Sea Shell Resorts and Hotel in Barangay Buena Suerte; Doublegem Beach

Resort and Hotel, Buko Beach Resort, Panorama Resort (Mangonana Inc.), Four Seasons Seaview Hotel and Stunning Republic Beach Resort in Barangay Corong-corong; and Sava Beach Bar/Sava Nest Egg Inc., El Nido Beach Hotel, and The Nest El Nido Resorts and Spa Inc. in

Barangay Masagana.

In an interview, DENR-Mimaropa Regional Executive Director Henry A. Adornado said while the CDOs cover only water use and discharge of wastewater, an establishment slapped with such order is, in effect, ordered closed, as the order shuts down their operation.

Erring establishments in El Nido, and two other tourism areas in the Mimaropa region—Coron, Palawan and Puerto Galera in Oriental Mindoro—are facing closure orders as part of the massive rehabilitation of famous tourist areas in the Philippines.

The order says the establishments discharge wastewater continuously without valid permits, a clear violation of Rule 14.12 of the implementing rules and regulations of RA 9275 or the Philippine Clean Water Act of 2004.

The law states that: “Disapproved

DOTr, LRTA panel will probe collision of two LRT 2 trains

By Lorenz S. Marasigan

T

@lorenzmarasigan

HE Light Rail Transit Authority (LRTA) and the Department of Transportation (DOTr) will create a fact-finding committee to determine the cause of the collision of two trtains at the Light Rail Transit (LRT) Line 2 on Saturday evening.

Reynaldo Berroya, the administrator of the railway regulator, said the committee will help shed light as to how a parked train in the pocket track of Anonas Station slid into the eastbound track, causing it to collide with a service train bound

for Cubao Station.

The collision injured 34 persons aboard the train. Five of them remained confined at the World Citi Medical Center and the Quirino Memorial Medical Center as of press time. All medical bills, followup checkups and resulting loss of income will be reimbursed by the government. “[We] assure everyone that we will get to the bottom of this. If the fact-finding committee proves that anyone was negligent or had failed in his or her duty, we will make sure that appropriate charges will be filed,” Transportation Assistant Secretary Goddes Hope O. Libiran said.

SOUTHWESTERLY AFFECTING WESTERN SECTION OF LUZON AND VISAYAS as of 4:00 am - May 19, 2019

The government is “taking this incident very seriously, and are exerting all efforts to prevent this kind of incident from happening again.”

It also maintained that that LRT 2, the youngest of the three overhead railway lines in the Philippines, is “a safe mode of public transportation,” calling the collision an “isolated incident.”

LRT 2 operations resumed on Sunday.

“The riding public’s safety and security are paramount to us in the delivery of mass transit service,” a statement from the transport agency read.

129 The number of establishments that complied with DENR orders to vacate areas they illegally encroached on in three tourist areas in Mimaropa. The 129 are among those that received 813 individual notices to vacate, but so far they are the only easement violators who complied.

applications or suspended or revoked wastewater discharge permits shall not grant any right or privilege to the applicant or former permit holder to discharge its wastewater into any body[ies] of water and/ or land. Any discharge shall be a

Oil players prep for intl rule cutting sulfur in fuel

P

ILIPINAS Shell Petroleum Corp.

(PSPC) is closely watching a global regulation that would require the reduction of the sulfur content of fuels from 3.5 percent to 0.5 percent by January 2020.

“We are watching this development closely. We’re preparing for any scenario,” said PSPC Vice President for Wholesale Commercial Fuels Dennis Javier.

The Maritime Industry Authority (Marina) and the Department of Energy (DOE) are expected to craft a comprehensive plan for the implementation of the International Maritime Organization (IMO) regulation, which is seen as jacking up the costs of shippers.

The two agencies will collaborate with the Department of Finance, National Economic and Development Authority, and the Department of Environment and Natural Resources to ensure the Philippines’s compliance.

Industry stakeholders have raised a concern, saying the regulation will entail additional cost.

For instance, Philippine-registered vessels may need to undergo retrofitting to be compliant with the regulation. There is also a possibility that the See “Oil players,” A2

Davao-bound doctor found dead at Naia

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N airport building attendant found the body of a passenger at the men’s toilet of the Ninoy Aquino International Airport (Naia) Terminal 3 on Sunday morning, and authorities have identified the man as a medical doctor.

Joal Paul Mortel, assigned at boarding gate 116, informed the police after finding the body of Richard Alexander de Leon Parinas, 56 years old, at about 8 a.m. on Sunday.

The medical team of the Manila International Airport Authority (Miaa) proceeded to the area to provide medical assistance, but found the doctor dead.

According to the report by the medical team, passenger Parinas, employed as Medical Officer III for the Viga District Hospital in San Vicente, Viga town in Catanduanes, was about to board a Cebu Pacific flight for Davao when he suffered an apparent heart attack inside the comfort room and died.

Police called scene of the crime operatives (Soco) from the airport police department to examine Parinas’s body.

As of press time, the actual cause of death of the passenger had yet to be determined with finality. Recto L. Mercene

ground for the immediate issuance of a cease and desist order.”

The CDO further noted that the hotels discharged wastewater that greatly exceed the allowable DENR standards, “without any consideration of its impact and effect [on] the receiving body of water,” in this case, Bacuit Bay. The order said results of the laboratory analysis on the wastewater taken from the erring establishments went beyond the DENR General Effluent Standards for Biochemical Oxygen Demand.

BOD is a measure of the quantity of oxygen used by microorganisms when decomposing organic materials present in water. It provides an index on how discharged wastewater affects its receiving environment. A high BOD indicates a high amount of organic matter present in the water sample.

Meanwhile, under orders from the Pollution Adjudication Board, the DENR also served a CDO on Cuna Hotel in Barangayt Maligaya, which is the subject of an existing complaint of discharging blackish and foul-smelling wastewater. Likewise, the effluent sample taken from the said hotel has greatly exceeded the water-quality standard set by the Department.

To ensure erring establishments refrain from discharging wastewater, a team from DENRMimaropa, spearheaded by its regional EMB, implemented the CDOs by sealing all the 10 hotels’ water lines and facilities from their kitchens to the comfort rooms (faucets, kitchen sinks, lavatory, sewer lines, outlet pipes, etc); and by posting a notice of their violations to the public.

See “DENR,” A4

U.N. FLAGS LOW BIRTH WEIGHT OF PHL BABIES

By Cai U. Ordinario @caiordinario

N

EARLY half a million Filipino babies are born with low birth weights (LBW) each year, increasing the risk of stunting and even death for these newborns, according to a report released by the United Nations.

In a report by the United Nations Children’s Fund (Unicef ) and the World Health Organization (WHO), data showed 20.1 percent of newborns suffer from LBW. This was lower than the 20.4 percent in 2012 and 21.5 percent in 2000.

However, while there was a decreasing trend in the percentage of babies with LBW, there was a slight increase in the absolute numbers —to 480,700 babies in 2015 from 479,500 babies in 2012. In year 2000, there were a total of 498,100 babies with LBW in the country.

“The new estimates reveal stagnated progress on reducing the prevalence of low birth weight between 2000 and 2015, with deceleration of the annual rate of progress in the 2010–2015 period

compared with the 2000–2009 period,” the report stated.

“If trends continue, the world will not achieve the 2025 WHA [World Health Assembly] low birth weight target—and this lack of progress will impede the achievement of the 2030 Sustainable Development Goals,” it added.

The report explained that an LBW is a weight at birth of less than 2,500 grams or less than 5.5 pounds (lbs), regardless of gestational age. This is usually caused by premature birth and/or growth faltering in the womb.

At risk of being born premature are babies of mothers who are anemic or underweight and overweight before and during pregnancy, as well as those who suffer from high blood pressure, diabetes, infections and other conditions.

The babies of mothers who are too young or too old, or experience poor birth spacing, as well as those who smoke, consume alcoholic beverages and undergo unnecessary caesarean deliveries, among others, could falter in their growth and development in the womb.

See “Birth weight,” A2

Unicef to PHL: Don’t lower age of criminal responsibility

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HE United Nations Children’s Fund (Unicef) has made a last-ditch appeal to lawmakers not to lower the minimum age of criminal responsibility, as the proposal championed by the Duterte administration is seen to be revived when Congress resumes sessions on Monday (May 20).

“Today, the Senate will debate the proposal to lower the minimum age of criminal responsibility,” Unicef led off with its statement at the weekend, adding that it “supports the call of the Council for the Welfare of Children, civil-society organizations, professional associations, child-protection experts, well-meaning citizens, parents and the youth not to lower the minimum age of criminal responsibility. Congress must support the full implementation of the Juvenile Justice and Welfare Act.” Children in conflict with the law, it pointed out, “are already victims of circumstance, mostly because of poverty and exploitation by adults.

Children need access to rehabilitation services because they deserve a second chance. They need to be protected and not further penalized.”

Calls to lower the minimum age of criminal responsibility from 15 to as low as nine had gained currency among many lawmakers in

the 17th Congress owing to claims that criminal syndicates had increasingly resorted to recruiting children to commit crimes for them, knowing these minors will not go to prison. The House of Representatives majority settled for lowering the age to 12.

Unicef lamented recent efforts “to undermine the impact of the Juvenile Justice and Welfare Act by proposing to lower the minimum age of criminal responsibility. Using misleading information, there are those who claim that the law has failed. But this is not a fact. The law cannot fail if it is fully and effectively implemented. Lowering the minimum age of criminal responsibility is not the answer. Putting children in prison or detaining them will only cause more harm to the child and to the community.”

Unicef noted that Monday is the 13th anniversary of the Juvenile Justice and Welfare Act— and reiterated its “commitment to promote the rights of all children, including children in conflict with the law and children-at-risk. As we celebrate this milestone, let us be reminded that all children must be treated with dignity and accorded their inalienable rights with utmost respect and protection.”

See “Unicef,” A2

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, May 20, 2019

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Govt, contractor set to ink deal for PNR Clark Phase 1

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By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Transportation (DOTr) is set to sign the civil-works contract with a Filipino-Japanese contractor for the partial construction of the Philippine National Railways (PNR) Clark Phase 1 on Monday.

The DOTr said in a media advisory that the package involves the construction of the Solis, Caloocan, Valenzuela, Meycauayan, Marilao and Bocaue stations of the 37.6-kilometer railway that will run from Tutuban, Manila, to Malolos, Bulacan.

A joint venture between Taisei

Corp. of Japan and Filipino construction company DMCI Holdings Inc. won the contract for this project. The other half of the project was awarded to Sumitomo Mitsui Construction Co. Ltd. in February. It covers the following stations: Balagtas, Guiguinto, Malolos.

The whole project costs P149 billion and will be funded through an official development assistance package from the Japan International Cooperation Agency.

Once completed, commuters from Tutuban will reach Malolos in approximately 35 minutes from over one and a half hours of travel time.

“We expect the rail line to serve 300,000 passengers per day once it has been completed in the fourth quarter of 2021,” the media advisory read.

PNR Clark Phase 1 is part of the North-South Commuter Railway (NSCR) Project, which is a 147-kilometer mass transpor tation railway system traversing Clark, Pampanga, and Calamba, Laguna, via Manila. It costs roughly P777.55 billion.

The groundbreaking of the

PNR Clark Phase 1 Project was held on February 15 in Malolos, Bulacan.

PNR Clark Phase 1 will have 13 train sets, composed of eight cars each, which will be running at a maximum speed of 120 kilometers per hour.

The DOTr said PNR Clark Phase 1 will be seamlessly connected with PNR Clark Phase 2 (MalolosClark) and PNR Calamba, forming one integrated commuter railway system that will serve commuters traveling to, from and within the National Capital Region, Region 3 and Region 4A. It is one of the flagship projects of the Duterte administration.

Flagship infrastructure projects are considered by the government as “high impact” or game changing because of the number of jobs that these can create.

Infra projects lift DMCI’s income

By VG Cabuag @ villygc

C

ONSTRUCTION firm DM Consunji Inc. (DMCI) said its net income for the first quarter of the year grew 12 percent to P374 million on account of higher revenues from infrastructure projects.

Revenues surged 74 percent to over P1.5 billion for the first three months of the year, from last year’s P883 million.

Its ongoing infrastructure projects include the Metro Manila Skyway Stage 3, the SS3 Nagtahan

Ramp, LRT Line 2 East Extension Project (Viaduct and Stations), TPLEx (Tarlac-Pangasinan-La Union Expressway) Bued and the Cavite-Laguna Expressway.

In February, the Department of Transportation also awarded the consortium of DMCI and Marubeni Corp. the P3.2-billion contract to install the track works and electromechanical system (EMS) of the LRT 2 east extension.

“Hopefully, the LRT 2 EMS contract is just the start of more infrastructure projects for DMCI. We want to focus on helping the government implement its ‘Build, Build, Build’

program,” DMCI President and Chief Executive Officer Jorge A. Consunji said.

The 4-kilometer LRT 2 extension project, now on its sixth year of construction, took so much time to undertake since the Aquino government decided to bid all three phases of the project instead of just taking in just one contractor. Officials said it would have been completed in just 18 months if the government tapped only one contractor. DMCI, so far, bagged the first two phases of the project.

From January to March, DMCI recorded a 36-percent drop in rev-

enues from building contracts, slipping to P1.1 billion from P1.7 billion last year, as most of the projects near completion.

Revenues from energy projects tripled to P602 million, while revenues from plant and utilities projects improved 29 percent to P404 million.

Accounting for P540 million in revenues are the ready-mix business and other project-support activities of DMCI, which more than doubled from last year.

On a stand-alone basis, DMCI’s first-quarter revenues reached P4.2 billion, a 24-percent increase from last year.

Distributor sold more Hyundai vehicles in April

By Elijah Felice E. Rosales @alyasjah

T

HE Phi lippine d istr ibutor of Hyundai vehicles increased sales by 17 percent in April, as it posted its third consecutive month of doubledigit growth to boost the prospect of its recovery.

In a report last Friday, Hyundai Asia Resources Inc. (Hari) disclosed its April sales improved 17.38 percent to 2,795 units, from 2,381 units during the same month last year. This further put Hari in a position to recover, as it bucked the automotive industry’s trend of flat performance.

Passenger car sales slightly rose to 1,612 units, from 1,602 units, on the rising popularity of its Reina sedan.

Further, sales of light commercial vehicles in April expanded 47.49 percent to 1,090 units, from 739 units during the same period last year. Commercial vehicle (CV) sales also jumped to 93 units, from 36 units, and are expected to improve further with the introduction of new Hyundai trucks and buses in the coming months.

Sales in the first four months of the year totaled 12,744 units, 13.54 percent higher than the 11,224 units sold during the same stretch last year.

To sustain sales growth and in support of the government’s infrastructure program, Hari intends to expand its dedicated CV dealerships to 20 by 2020. It has at present a network of 11 CV dealerships across the country delivering complete sales, service and spare parts to commercial and industrial customers.

With three consecutive months of double-digit growth, Hari President and CEO Maria Fe Perez-Agudo said the firm

is poised to hit its objective of selling 40,000 units this year.

“We intend to leverage on our strong performance as we gain momentum. We aim to sell 40,000 Hyundai units by the end of the year, and we are confident we can hit this target, especially with new vehicle models that we are launching within the year,” Perez-Agudo said in the report.

Hari is tr y ing to recover from a 6.04-percent sales decline last year to 35,401 units, from 37,678 units in 2017,

as record-high inflation last September and October, as well as new taxes on automobile, heavily affected its performance.

The Philippine distributor of Hyundai vehicles said last month that its sales in the first quarter grew 12.5 percent after the introduction of new models and a recovering consumer appetite.

The car importer introduced its popular SUV Palisade and award-winning electric vehicle Kona at the Manila International Auto Show in March.

FIFTH GENERATION Toyota Motor Corp. GR Supra vehicles stand on display during a launch event at the Mega Web Toyota City Showcase showroom in Tokyo, Japan, on May 17. The fifth-generation Supra ends the 17year hiatus since the end of the production of the previous generation, according to the company. PHOTOGRAPHER: KIYOSHI OTA/BLOOMBERG

Megaworld: Sales of luxury condo to hit ₧3 billion P ROPERTY developer Megaworld Corp. said it is expanding its luxury residential footprint inside the 34.5-hectare McKinley West with the launch of the Albany Yorkshire Villa.

Megaworld said the development will be completed in 2023 and it is expected to generate around P3 billion in sales.

Located within what it called the “billionaire’s row” beside the McKinley West Village, the Albany Yorkshire Villa offers 64 suites ranging from 121 square meters for twobedroom and 133 square meters for three-bedroom. The exclusive fourbedroom penthouse suites offer 349 square meters of three-level space with its own private infinity pool at the roof deck.

All suites of the development have private high-speed elevators that open directly to each unit’s foyer.

Each residential suite can only be accessed using keycards, including the amenity deck and other facilities in the property, the company said.

The Albany caters to a niche market of highly discerning privileged few who want to live in an exclusive community of affluent urban dwellers. This isnt a place to be seen, but a private abode where everything is still within easy reach, Rachelle Peñaflorida, the company’s vice president for sales and marketing, said.

Designed by United Kingdombased award-winning architectural firm, Broadway Malyan, all suites will have built-in appliances by Bosch, kitchen system by Leicht, kitchen appliances by Gaggenau and Bosch, toilet fixtures by Duravit’s Philippe Starck Collection, and bathroom fixtures by Hansgrohe Axor Starck and Grohe.

Each suite at The Albany is a curated expression of opulence and privacy. We carefully planned the entire development to make it a class of its own in Metro Manilas ultra-luxury residential market, Peñaflorida said.

Megaworld said last week that 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. VG Cabuag

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Companies BusinessMirror

Monday, May 20, 2019

PSE STOCK QUOTATIONS

May 17, 2019

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

58 130.8 80.9 26.6 11.4 73 54.1 57.1 26 173.3 60 18.8 4.42 1.34 0.46 770 0.95 180.5 1775

58.5 130.9 81 26.7 11.42 73.5 54.45 57.45 26.5 175 60.5 18.84 4.6 1.39 0.475 818 1 182.9 1800

58 130.1 81.9 26.25 11.2 71.05 53.3 57.45 26.2 162.3 60 18.84 4.63 1.35 0.475 780 0.96 182.9 1825

58.1 132.4 83.2 26.6 11.4 73.9 54.65 57.5 26.5 175 60.5 18.84 4.63 1.39 0.475 780 1 182.9 1825

58 130.1 81 26.25 11.2 71.05 53.3 57.4 26.2 162.3 60 18.82 4.63 1.35 0.46 780 0.96 181 1775

58 130.9 81 26.6 11.4 73 54.1 57.4 26.5 175 60 18.84 4.63 1.39 0.46 780 0.96 181 1775

22440 6565790 3338710 67500 268900 3163070 217080 1480 3800 867650 15310 34200 1000 75000 130000 940 869000 210 155

1302270 859857473 272948755.5 1784490 3042038 230673465 11717664 85019 99640 150148710 918649 644128 4630 101370 60400 733200 851100 38295 276375

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

1.36 34.65 0.255 21 76.5 360 21.7 5.52 4.45 2.03 11.66 42.6 6.42 15 14.62 14.2 5.65 10.1 7.49 107 0.71 39.5 276.8 9.6 13.9 0.188 1.24 13 1.61 4.82 0.128 152.5 1.25 2.5 66.2 63.1 2.69 15.96 9.35 14.3 21.5 0.86 1.04 110 1.89 1.57 3.4 4.65 45 2.33 9.99 1.7 5.75 1.24 26.45

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 GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.61 15.26 850 47.8 13.9 6.7 0.75 1.27 1.28 7.15 9.76 13.9 820 6.09 56.95 5.95 0.485 4.7 16.62 4.25 0.039 3.31 1.12 1.33 888 179.8 0.82 268 0.233 0.3

1.37 34.7 0.26 21.05 76.55 361 21.9 5.58 4.56 2.04 11.96 42.65 6.5 15.46 16.68 14.28 5.7 10.24 7.5 109 0.72 39.7 277 10 13.94 0.195 1.25 13.24 1.67 4.95 0.13 154.6 1.26 2.54 68.5 88.95 2.7 16 9.39 14.32 21.7 0.87 1.05 115 1.92 1.69 3.48 4.75 48 2.34 10 1.74 5.8 1.28 28

1.38 34.15 0.255 21.15 76.5 355.6 21.55 5.6 4.41 1.98 11.66 42.7 6.38 15.3 16.8 13.86 5.7 10.3 7.51 109 0.71 37.5 286.4 10 13.72 0.189 1.22 12.72 1.61 4.99 0.128 152 1.25 2.51 66.2 63.1 2.67 15.9 8.99 13.9 21.85 0.87 1.06 110.9 1.94 1.69 3.47 4.8 45 2.3 10.18 1.75 5.85 1.29 26.75

1.38 35.5 0.26 21.15 77.3 364 22 5.72 4.56 2.08 12.02 43 6.67 15.56 16.8 14.2 5.7 10.3 7.51 109 0.74 39.85 289.2 10.24 14.1 0.195 1.25 13.24 1.67 4.99 0.128 156 1.26 2.51 66.2 63.1 2.8 16 9.4 14.38 22 0.97 1.06 118.1 1.94 1.69 3.47 4.81 45 2.36 10.2 1.75 5.85 1.29 28

1.37 34.15 0.248 20.85 76.25 355.6 21.5 5.51 4.41 1.97 11.66 42.5 6.38 15.1 16.8 13.82 5.65 10.04 7.49 104.6 0.71 37.5 277 9.5 13.72 0.188 1.21 12.72 1.59 4.9 0.128 152 1.23 2.5 66.2 63.1 2.67 15.84 8.98 13.66 21.5 0.86 1.01 110.8 1.9 1.69 3.47 4.62 45 2.28 9.97 1.7 5.75 1.29 26.4

1.37 34.7 0.26 21 76.55 360 21.7 5.52 4.56 2.04 11.96 42.6 6.5 15.46 16.8 14.2 5.65 10.1 7.49 109 0.72 39.7 277 10 13.94 0.188 1.24 13.24 1.67 4.95 0.128 152.5 1.26 2.51 66.2 63.1 2.7 16 9.39 14.32 21.7 0.87 1.05 118.1 1.92 1.69 3.47 4.7 45 2.33 10 1.7 5.8 1.29 28

21000 1355500 9800000 1539300 430410 295200 2475500 3980300 18000 22819000 52400 82000 175200 303700 100 968800 6800 2400300 1709900 466930 1428000 392200 2318150 38700 530300 170000 1679000 71500 53000 99000 720000 1098530 2483000 39000 10 10 13994000 272000 2081100 2793800 2705100 836000 1846000 510 80000 1000 8000 343000 600 7791000 1056100 106000 101600 4000 251500

28810 47263190 2491930 32311365 32939882 106191968 53684885 22164903 79700 46678520 626438 3498755 1134629 4690228 1680 13713134 38675 24301146 12812199 50550084 1033850 15283475 649423562 378343 7387198 32140 2085000 922338 84860 487400 92160 168857717 3086140 97840 662 631 38314510 4348734 19277993 39614110 59074765 749220 1897320 56611 153480 1690 27760 1625730 27000 18096790 10565155 181300 588680 5160 6840520

HOLDING & FRIMS 0.62 15.58 851 48.05 13.96 6.72 0.76 1.3 1.32 7.17 9.77 13.98 830 6.12 57 5.98 0.5 4.74 16.94 4.27 0.04 3.32 1.17 1.36 893 180 0.84 270 0.239 0.305

0.62 15.3 838 47 13.5 6.7 0.75 1.27 1.28 7.12 9.71 13.66 800.5 6.11 56.25 5.9 0.52 4.51 16.6 4.21 0.04 3.1 1.18 1.37 880 180.3 0.84 268 0.235 0.31

0.64 16.48 868.5 49 14.12 6.71 0.75 1.3 1.32 7.3 9.86 14.54 840 6.12 57.55 5.98 0.52 4.8 16.96 4.3 0.04 3.31 1.18 1.37 897.5 183.7 0.84 270 0.24 0.31

0.61 15.2 838 47 13.5 6.7 0.75 1.26 1.28 7.1 9.71 13.64 800 6.09 56.25 5.9 0.5 4.51 16.38 4.21 0.039 3.1 1.18 1.33 880 177.5 0.82 265 0.233 0.295

0.62 15.26 850 48.05 13.9 6.7 0.75 1.3 1.32 7.15 9.76 14 820 6.09 57 5.98 0.51 4.7 16.94 4.25 0.039 3.31 1.18 1.33 888 179.8 0.84 270 0.239 0.3

8229000 146200 1077360 1506800 11236100 250600 30000 938000 106000 189000 5960300 126200 98830 86800 3304760 13000 3000 3091000 1698200 24343000 8600000 16342000 20000 204000 535930 366070 144000 1170 360000 8840000

5113100 2316074 922908990 72117140 154522170 1679030 22500 1196090 138780 1351224 58304792 1786972 81264665 530101 188452783.5 76966 1530 14418030 28,236,816( 103792270 336500 52510160 23600 274220 477052750 65953701 118470 313958 84240 2655800

444450 -73267703 -101942046 224255 -49346 -49977899 9038379 49430.5 -22467455 -484825.5 188400 -70080 -15699495 -9768985 -8580913.5 -52792236 22819200 -5093919 2630700 -27436 -3186665 69300 286610 -5776108 -7945 -14924300 -10009214 32356868 3840179.9997 -275547802 -661848 1590300 498782 14800 -60553940 -195600 12500 11526970 -259388 6315157 14777304 49831910 2060 38340 -532919.9998 221180 -1756979 -173600 -63820 -149742765 -27982875 -50012178 1672320 -341982 -36052559 -134120 -25989205 -77968834 -1105720 3,507,368.0001) -31505710 -2176800 -255409000 -3131990 -16098 18300

PROPERTY

ARTHALAND CORP 0.78 0.8 0.81 0.81 0.78 0.78 779000 617850 93600 ANCHOR LAND 9.9 11.12 11.18 11.18 11.18 11.18 4500 50310 45838 AYALA LAND 46.75 47.25 46.3 47.8 46.3 46.75 10989800 517615400 -117433780 ARANETA PROP 2.12 2.18 2.11 2.18 2.11 2.18 200000 429690 BELLE CORP 2.32 2.34 2.36 2.36 2.32 2.32 114000 265010 -23210 A BROWN 0.71 0.72 0.73 0.73 0.71 0.71 99000 71190 CITYLAND DEVT 0.86 0.9 0.9 0.9 0.9 0.9 2000 1800 CROWN EQUITIES 0.23 0.24 0.24 0.24 0.24 0.24 620000 148800 CEBU HLDG 6.22 6.4 6.4 6.4 6.4 6.4 200 1280 CEB LANDMASTERS 4.89 4.9 4.85 4.93 4.82 4.89 2207000 10773660 -481460 CENTURY PROP 0.51 0.52 0.51 0.52 0.5 0.51 11449000 5854710 126990 CYBER BAY 0.375 0.395 0.375 0.375 0.375 0.375 200000 75000 DOUBLEDRAGON 25.6 25.8 25.7 26.35 25.2 25.6 1175100 30369715 -4663530 DM WENCESLAO 10.24 10.26 10.08 10.3 10.08 10.24 100900 1023524 -30480 EMPIRE EAST 0.475 0.485 0.47 0.48 0.47 0.48 490000 234950 -192000 FILINVEST LAND 1.54 1.55 1.54 1.56 1.51 1.55 5922000 9127550 -3365560 GLOBAL ESTATE 1.32 1.33 1.33 1.34 1.32 1.33 1058000 1402220 8990 HLDG 14.26 14.28 14.3 14.3 14.2 14.28 56500 806752 PHIL INFRADEV 1.75 1.76 1.7 1.75 1.68 1.75 884000 1528540 17180 CITY AND LAND 0.78 0.82 0.82 0.82 0.82 0.82 14000 11480 MEGAWORLD 5.43 5.45 5.27 5.6 5.25 5.45 31926800 173,592,684( 89,470,221.9998) MRC ALLIED 0.315 0.32 0.33 0.33 0.31 0.315 23080000 7413100 6600 PHIL ESTATES 0.47 0.48 0.48 0.48 0.47 0.47 480000 226700 PRIMEX CORP 2.24 2.25 2.22 2.32 2.22 2.24 274000 624450 ROBINSONS LAND 23.5 23.6 23.1 24 23.1 23.5 1309100 30839305 -10202785 PHIL REALTY 0.415 0.42 0.415 0.43 0.415 0.42 310000 129450 ROCKWELL 1.99 2.03 2 2 1.99 1.99 1253000 2505020 -321340 SHANG PROP 2.98 3 2.98 3 2.98 3 91000 272820 210000 STA LUCIA LAND 1.8 1.82 1.81 1.89 1.8 1.8 5182000 9398880 SM PRIME HLDG 39.1 39.25 38 39.25 38 39.1 9628000 375523095 -95977935 STARMALLS 6.68 6.8 6.65 6.8 6.65 6.8 106100 712037 SUNTRUST HOME 0.72 0.76 0.72 0.72 0.72 0.72 8000 5760 VISTA LAND 7.16 7.17 7.15 7.18 7.11 7.16 3618200 25898576 18312370

SERVICES ABS CBN 19.12 19.18 19.02 19.2 19.02 19.1 166200 3185642 GMA NETWORK 5.37 5.4 5.35 5.42 5.33 5.4 764400 4101586 MANILA BULLETIN 0.52 0.54 0.55 0.55 0.52 0.52 146000 76680 MLA BRDCASTING 15 15.98 15 15 15 15 600 9000 GLOBE TELECOM 1986 1999 1930 2000 1930 1999 76295 151522495 30779375 PLDT 1255 1258 1230 1264 1230 1255 145410 182363730 39567215 APOLLO GLOBAL 0.044 0.045 0.043 0.045 0.043 0.045 3600000 159200 IMPERIAL 1.75 1.9 1.75 1.75 1.75 1.75 73000 127750 17500 ISLAND INFO 0.123 0.125 0.122 0.122 0.122 0.122 340000 41480 ISM COMM 6.08 6.09 6 6.09 5.98 6.09 4196800 25369136 -12160 NOW CORP 2.07 2.11 2.08 2.17 2.05 2.11 1097000 2291110 -104800 TRANSPACIFIC BR 0.33 0.335 0.34 0.34 0.32 0.335 2600000 858950 PHILWEB 3.08 3.11 3.09 3.15 2.98 3.08 1156000 3524000 -1440010 2GO GROUP 11.7 11.8 11.98 11.98 11.7 11.7 12700 149762 ASIAN TERMINALS 19 19.88 19.9 19.9 19 19.88 30800 603654 200000 CHELSEA 6.38 6.39 6.4 6.45 6.33 6.39 2917000 18661335 98670 CEBU AIR 84.05 84.3 83.05 85 83.05 84.3 341430 28659006.5 -1176198.5 INTL CONTAINER 139.7 139.9 137.1 142.7 135.1 139.9 3908240 546193287 79705693 LBC EXPRESS 14.52 14.8 15.1 15.1 14.8 14.8 31500 471300 LORENZO SHIPPNG 0.75 0.78 0.78 0.79 0.78 0.79 21000 16390 MACROASIA 18.94 18.98 18.62 19 18.62 18.98 2266900 43035262 16481560 METROALLIANCE A 1.66 1.75 1.75 1.75 1.75 1.75 13000 22750 PAL HLDG 9.73 10 9.74 10 9.7 9.7 17000 168114 HARBOR STAR 2.39 2.4 2.43 2.43 2.39 2.4 294000 706670 ACESITE HOTEL 1.29 1.35 1.27 1.27 1.27 1.27 34000 43180 BOULEVARD HLDG 0.065 0.066 0.065 0.067 0.065 0.066 1830000 119250 WATERFRONT 0.68 0.69 0.68 0.69 0.67 0.68 1528000 1036300 CENTRO ESCOLAR 7.02 7.43 7.13 7.13 7 7 20000 140570 58959 IPEOPLE 10.68 10.9 10.98 10.98 10.6 10.9 6400 69010 STI HLDG 0.66 0.67 0.67 0.67 0.65 0.66 449000 295490 -12470 BERJAYA 2.41 2.47 2.45 2.5 2.39 2.47 175000 427900 -7290 BLOOMBERRY 11.02 11.2 11 11.2 10.8 11.2 6178900 68113804 -6545010 PACIFIC ONLINE 3.25 3.35 3.34 3.4 3.34 3.34 87000 291380 -6590 LEISURE AND RES 4.25 4.26 4.23 4.3 4.1 4.25 3242000 13622960 2142870 MANILA JOCKEY 3.85 3.9 3.7 3.85 3.7 3.85 65000 243990 PH RESORTS GRP 4.17 4.31 4.32 4.32 4.3 4.3 15000 64560 PREMIUM LEISURE 0.68 0.69 0.67 0.71 0.66 0.69 8253000 5714640 -823740 TRAVELLERS 5.6 5.65 5.6 5.6 5.6 5.6 49600 277760 METRO RETAIL 2.73 2.75 2.67 2.76 2.67 2.73 3918000 10707580 449110 PUREGOLD 45.35 45.5 44.7 45.5 44.6 45.5 273600 12384825 361495 ROBINSONS RTL 69.6 71.05 69.85 71.05 69.1 71.05 1234310 86194885 -20996577.5 PHIL SEVEN CORP 123 125 123 123 123 123 25430 3127890 52890 SSI GROUP 3.19 3.2 3.3 3.4 3.15 3.2 14652000 47797230 1196370 WILCON DEPOT 16.58 16.64 16.54 16.76 16.52 16.58 1901000 31550092 13679486 APC GROUP 0.4 0.42 0.4 0.4 0.4 0.4 200000 80000 EASYCALL 11.06 11.18 11.02 11.3 11 11.18 39200 435848 GOLDEN BRIA 397.2 410 410 410 397.2 397.2 3450 1373102 IPM HLDG 6.16 6.97 6.2 6.97 6.15 6.97 2000 12760 PRMIERE HORIZON 0.92 0.93 0.94 0.95 0.91 0.93 45660000 42751920 -783070 SBS PHIL CORP 9 9.41 9.49 9.49 9 9 72400 653288

MINING & OIL ATOK 11.1 12 12 12 12 12 200 2400 APEX MINING 1.19 1.2 1.21 1.23 1.18 1.2 1827000 2190660 -1663340 ABRA MINING 0.0018 0.0019 0.0018 0.0019 0.0018 0.0019 99000000 178400 ATLAS MINING 2.76 2.84 2.79 2.79 2.75 2.76 405000 1122070 BENGUET A 1.11 1.15 1.23 1.23 1.15 1.15 19000 22730 COAL ASIA HLDG 0.275 0.295 0.29 0.295 0.28 0.295 1100000 310650 CENTURY PEAK 2.76 2.78 2.76 2.78 2.75 2.76 649000 1801670 DIZON MINES 7.73 7.81 7.84 7.84 7.7 7.73 15200 117603 FERRONICKEL 1.55 1.56 1.57 1.58 1.53 1.56 7360000 11568980 83160 GEOGRACE 0.227 0.234 0.237 0.237 0.228 0.234 720000 165880 -9400 LEPANTO A 0.106 0.107 0.107 0.107 0.106 0.106 700000 74500 LEPANTO B 0.106 0.112 0.111 0.111 0.104 0.106 2000000 212400 -192260 MANILA MINING A 0.0078 0.0079 0.008 0.008 0.0079 0.0079 27000000 214400 MANILA MINING B 0.0079 0.0085 0.008 0.008 0.008 0.008 1000000 8000 MARCVENTURES 1.01 1.03 1.03 1.03 1 1.01 58000 59270 NIHAO 0.98 1 1.01 1.01 0.99 0.99 23000 22850 NICKEL ASIA 2.17 2.2 2.2 2.25 2.16 2.17 1857000 4074170 -1391320 OMICO CORP 0.55 0.6 0.56 0.6 0.56 0.59 261000 153350 ORNTL PENINSULA 0.87 0.89 0.88 0.88 0.87 0.88 119000 103880 PX MINING 2.94 2.95 2.95 2.95 2.89 2.94 652000 1907860 -254320 SEMIRARA MINING 21.9 21.95 21.9 22.35 21.85 21.95 2300200 50550345 40926895 ORNTL PETROL A 0.011 0.012 0.011 0.013 0.011 0.012 87300000 1046500 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 248600000 2970400 -6000 PHINMA PETRO 3.62 3.8 3.67 3.67 3.67 3.67 22000 80740 PXP ENERGY 8.38 8.4 8.3 8.49 8.23 8.4 518300 4322106 226914

PREFFERED

AC PREF B1 473.8 478.2 478.2 478.2 473.8 473.8 1110 526922 DD PREF 97.8 98 97.95 98 97.8 98 1700 166471 SMC FB PREF 2 972 975 975 975 975 975 90 87750 GLO PREF P 486 493 486 486 486 486 100 48600 4860 LR PREF 0.97 1 0.98 0.98 0.97 0.97 240000 235120 PNX PREF 3A 99.1 102 104 104 104 104 300 31200 PNX PREF 3B 103 106 105.9 106 105.9 106 150 15886 PCOR PREF 2B 992 1020 1020 1020 992 992 4320 4406120 SMC PREF 2B 75.1 75.95 75.1 75.95 75 75.95 1380 103584 SMC PREF 2C 76.2 76.5 76.1 76.3 76.1 76.3 9100 692810 SMC PREF 2D 71.5 72 72 72 71.5 71.5 12150 874675 SMC PREF 2E 71.7 73.5 71.7 71.7 71.7 71.7 60000 4302000 SMC PREF 2F 73.8 74.4 74 74 73.8 73.8 12820 946590 SMC PREF 2H 73 73.85 73 73 73 73 6000 438000 SMC PREF 2I 73 73.5 71.85 73.5 71.8 73.5 17280 1246625 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.2 5.3

18.9 5.42

18.9 5.26

18.9 5.4

18.2 5.25

18.2 5.4

566500 226700

10417864 1217792

WARRANTS LR WARRANT

2.04

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.8 XURPAS 1.05

2.06

2.04

2.1

1.95

2.06

816000

1658720

-

4.85 1.06

4.78 1.05

4.85 1.06

4.76 1.03

4.81 1.06

344000 5220000

1653060 5457900

19320 -447160

EXHANGE TRADE FUNDS FIRST METRO ETF

114.2

-9161014 -810000

115.2

112.9

115.2

112.9

114.2

8210

940204

37588

www.businessmirror.com.ph

Okada to exhaust all legal remedies vs estafa raps

J

By VG Cabuag

@villygc

APAN’S casino magnate Kazuo Okada and associate Takahiro Usui said they will exhaust all legal remedies after the Parañaque City Regional Trial Court (RTC) upheld the issuance of warrants of arrest against them on estafa charges.

Lawyer Reody Anthony Balisi, Okada’s representative in the country, said the Japanese magnate and Usui will continue to convince the court that it was impossible for them to commit estafa, especially for Okada who was in full control of the company when the alleged payment happened in 2017.

“Mr. Okada and Mr. Usui will vig-

orously defend themselves against these baseless accusations and shall continue to avail themselves of legal remedies by first filing a Motion for Reconsideration, and if it is denied, a Petition for Certiorari with the Court of Appeals of the Philippines,” Balisi said in a statement.

Earlier, Okada and Usui, Tiger Resort Leisure and Entertainment

Inc.’s chief operating officer, filed a Motion to Quash or Recall Warrants of Arrest before the Parañaque RTC 257 on January 7, in connection with the three counts of estafa filed by TRLEI against them.

Tiger Resort is the operator of the $2-billion Okada Manila integrated resort and casino in Entertainment City. The Parañaque RTC branch 257, however, denied their motion on May 6, 2019.

TRLEI is suing the two then top officers of Okada Manila for the disbursement of about $3 million as their compensation during April 30, May 9 and 30, 2017.

“In short, Mr. Okada argues that he had the power to authorize the payment of compensation to directors. That power was given to him by the Board of Directors of UEC [United Entertainment Corp.], as Mr. Okada is responsible for the investment of more than $2 billion in Okada

Manila, which bears his name,” the lawyer said.

“It is therefore absurd for him to defraud, or conspire to defraud, his own company for a measly $3 million,” he added.

UEC is the Japan listed company of Okada’s firms that control Tiger Resort.

Okada argued that he had the sole right to authorize or ratify matters pertaining to Tiger Resort, including the compensation of the corporation’s directors which was determined by the its stockholders according to company law, the lawyer said.

“Also, Okada and Usui maintained that the Court and TRLEI recognized Mr. Okada’s valuable contributions and services as chairman and CEO, and his salaries and fees were even processed, approved and signed by the proper officers of TRLEI, the operator of Okada Manila,” he said.

‘SPPC paid PSALM ₧289.1B as of April’

S

OUTH Premiere Power Corp. (SPPC) said it has paid the Power Sector Assets and Liabilities Management Corp. (PSALM) P289.1 billion, or $6.19 billion, in various fees from 2010 up to end-April this year.

SPPC, a unit of SMC Global Power Holdings Corp., is the independent power producer administrator (IPPA) for the 1,200-megawatt (MW) natural gas-fired power plant in Ilijan, Batangas.

Contrary to PSALM’s claims that SPPC owes the government entity P19.75 billion, the company said it “honors and religiously pays” its contractual obligations under the Ilijan IPPA agreement.

“It is unfortunate that PSALM has to resort

again to misinformation while the case is pending in court. While it is inappropriate for us to comment on the issue, we take this matter seriously and we cannot allow damaging statements like this to hurt our reputation and our stakeholders,” SPPC President Ramon S. Ang said.

In a report to the Department of Finance (DOF), PSALM said IPPs and electric cooperatives dominate the list of the top corporate entities with long overdue accounts with the PSALM amounting to a combined P59.23 billion as of December 2018.

Many of these accounts were transferred by the National Power Corp. (Napocor) to PSALM by virtue of Epira, or Republic Act 9136, in 2001. Lenie Lectura

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices continued to drop, as a result of the election outcome that favored the administration’s bets and the Central Bank’s decision on the reduction of reserve requirement ratio, as the main index slipped 2 percent to 7,500-point level.

The benchmark Philippine Stock Exchange (PSE) index dropped 158.38 points to 7,583.82 points.

“It would have ended even lower if not for the bounce off support that we saw on Friday after ending below the key-support at 7,500 that we saw on Thursday,” Christopher Mangun, research head at Eagle Equities Inc., said.

The main index was down for three straight days of the four-day work week as a result of Monday’s election.

Foreign investors were net sellers at P5.85 billion, while trading average for the week was high at P8.54 billion, possibly as a result of the balancing of the MSCI Emerging Market Index.

Most of the subindices ended lower led by the broader All Shares index that fell 77.90 points to 4,713.27, the Financials index declined 38.10 to 1,700.73, the Industrial index plunged 469.90 to 11,056.42, the Holding Firms index dropped 276.01 to 7,069.90, the Property index gained 20.89 to 4,138.89, the Services index rose 41.02 to 1,636.59, and the Mining and Oil index shed 68.62 to 7,256.66.

Losers led gainers 93 to 130, and 21 shares were unchanged.

Top gainers were Asian Terminals Inc., Philweb Corp., LMG Chemicals Corp., the Philodrill Corp., Prime Orion Philippines Inc. and Philippine Seven Corp.

Top losers were Concrete Aggregates Corp. B, Primex Corp., Benguet Corp. B, Zeus Holdings Inc., Lepanto Consolidated Mining B and Benguet Corp. A.

THIS WEEK

SHARE prices may continue to go down this week, partly as a result of external factors that spook investors, including the United States-China trade war.

“The reality is, the US-China trade war has a minimal effect on our economy but the gloom and doom from investors across the globe has taken its toll on foreign and local investors in the PSE. We may continue to see foreign funds flow out of the market as the MSCI rebalancing will not take its full effect until the end of the month,” Mangun said.

2TradeAsia said investors would now focus on the local front as the Congress regular session will start this week to hammer out economic bills.

“Investors would also check how government would map out its timeline on infrastructure roll out, with the onset of the rainy season in third quarter,” it said.

It sees immediate support of the main index at 7,500 and resistance at 7,800 to 8,000.

STOCK PICKS

BROKER Regina Capital and Development Corp. advised to cut losses on the stock of Ayala Corp. as it broke its support levels at P879.60 and P865 per share this week.

“Following this, we’re placing the next support at P837.00 and P810,” it said, adding that its technical levels show strong selling signs.

Ayala Corp.’s shares closed at P850 per share.

Meanwhile, the broker gave the same recommendation on the stock of Jollibee Foods Corp., one of the previous week’s biggest losers, as it broke down its monthlong support at P300 per share.

“This dip has officially put the stock below its 260-day moving average of P287.48 for the first time since December 2018. This places the next support at P279. Expect bearish pressure to continue to push down on JFC,” it said.

Shares of Jollibee Foods closed last week at P277 apiece. VG Cabuag

MUTUAL FUNDS

May 17, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 251.48 -6.51% -1.22% -0.29% -0.3% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5653 1.35% 7.91% 2.31% 8.64% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.9164 -8.59% -1.28% -1.13% 0.34% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8942 -4.66% N.A. N.A. 0.42% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8303 -5.42% N.A. N.A. 1.17% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.2132 -6.23% -1.05% -0.38% -1.1% MBG EQUITY INVESTMENT FUND, INC. -A 121.39 5.2% N.A. N.A. 4.23% ONE WEALTHY NATION FUND, INC. -A 0.8304 -8.37% -5.89% N.A. -0.24% PAMI EQUITY INDEX FUND, INC. -A 49.4054 -4.81% -0.78% N.A. 0.41% PHILAM STRATEGIC GROWTH FUND, INC. -A 517.36 -4.89% -1.54% -0.38% 0.51% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.2628 -2.76% 0.25% 2.33% 0.7% PHILEQUITY FUND, INC. -A 36.9989 -3.06% 0.94% 1.73% 1% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 0.9852 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.0041 -4.44% 0.18% 1.81% 0.91% PHILIPPINE STOCK INDEX FUND CORP. -A 835.28 -4.38% -0.1% 1.75% 0.82% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9004 -0.17% -0.13% N.A. 4.55% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.1343 -2.79% 0.39% 1.18% 1.86% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9606 -4.81% -0.14% N.A. 0.66% UNITED FUND, INC. -A 3.5707 -2.74% 2.47% 1.91% 1.99% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 111.8561 -4.06% 0.91% 2.82% 1% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9728 -11.08% 6.46% 0.17% 4.7% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2606 -2.6% 8.23% N.A. 14.07% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6575 -5.1% -2.33% -2.34% 0.38% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2437 -4.44% -0.54% -0.11% 1.56% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.5573 -4.18% -1.71% -2.23% 0.53% GREPALIFE BALANCED FUND CORPORATION -A 1.3261 -3.05% N.A. N.A. 1.67% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.8826 -0.11% 0.18% 0.71% 2.14% PAMI HORIZON FUND, INC. -A 3.5883 -2.91% -1.29% -0.32% 1.67% PHILAM FUND, INC. -A 16.1958 -1.88% -1.15% -0.25% 1.81% SOLIDARITAS FUND, INC. -A 2.0893 -1.81% 0.09% 1.2% 0.82% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.7466 -0.65% -0.04% 0.72% 2.61% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9689 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.958 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9548 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9616 0.11% 0.18% N.A. 4.33% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03646 5.07% 0.76% 1.42% 3.43% PAMI ASIA BALANCED FUND, INC. -A $0.9608 -8.42% 3.4% -1.12% 2.63% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6579 -0.39% 5.94% 2.53% 10.56% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0848 0.74% 3.62% N.A. 7.41% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 348.57 3.03% 2.09% 2.14% 1.51% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8886 1.54% -0.24% -0.29% 1.58% COCOLIFE FIXED INCOME FUND, INC. -A 3.0297 5.35% 5.25% 5.26% 1.98% EKKLESIA MUTUAL FUND INC. -A 2.1671 2.61% 1.32% 1.78% 1.72% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2701 2.51% 0.59% 0.99% 2.75% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6041 1.76% -0.48% 0.19% 2.54% PHILAM BOND FUND, INC. -A 4.066 2.55% -0.1% 0.76% 3.73% PHILEQUITY PESO BOND FUND, INC. -A 3.6235 3.95% 1.47% 1.09% 3.03% SOLDIVO BOND FUND, INC. -A 0.9224 1.44% -0.56% N.A. 3.34% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9006 5.88% 1.75% 1.8% 4.87% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6087 5.56% 1.2% 1.35% 4.47% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $455.47 3.18% 1.79% 2.71% 1.6% ALFM EURO BOND FUND, INC. -A Є216.13 1.59% 1.42% 1.47% 1.64% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1699 5.24% 1.65% 2.11% 3.92% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0254 2.83% 0.8% N.A. 2.42% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7134 1.13% -1.37% 0.64% 1.37% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0699 3.98% -0.57% -2.27% 3.11% PHILAM DOLLAR BOND FUND, INC. -A $2.28 6.53% 0.6% 2.6% 5.01% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0585144 3.43% 1.3% 1.69% 2.69% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9966 3.94% -0.01% 1.97% 4.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.9 3.54% 2.29% 1.84% 1.7% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0111 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2014 3.05% 1.35% 0.85% 1.65% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2382 3.46% 2.55% 1.93% 1.58% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0253 2.09% N.A. N.A. 0.93%

* - 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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

To spur growth, IC cuts risk charges on insurers’ infra-related investments

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By Rea Cu

@ReaCuBM

N a bid to encourage insurance companies to make a stake in infrastructure investments, the Insurance Commission (IC) has issued a circular letter providing for better capital charges when investments are part of the infrastructure blueprint under the Philippine Development Plan (PDP).

Insurance Commissioner Dennis B. Funa recently signed Circular Letter 2019-19, which reduces risk charges for investments for insurance companies, answering the clamor of local insurers. The regulator sees the new charges as making it more attractive and cheaper for them to foray into PDPlisted infrastructure investments.

“The risk calibration for debt instruments has been reduced to 6 percent, while the risk charges for investment in equity shares were likewise reduced to 9 percent,” Funa said.

Under the previous regulation, the risk charges for debt and equity instruments related to infrastructure investments were the same as ordinary debts and equities, with the risk calibration reaching as high as 24 percent for debt instruments and 55 percent for equity investments.

“This is a substantial improvement compared to the previous calibration. Before the issuance of this new circular letter, capital charges relating to investments in infrastructure projects were subject to risk calibration ranging between 1.25 percent and 24 percent for debt instruments and [between] 40 percent and 55 percent for equity investments,” he explained.

In the new regulation, debt and equity instruments related to infrastructure projects under the PDP are now, in effect, a new classification of assets—distinct and separate from ordinary debt and equity investments.

“In other words, under the previous regulation, the risk charges for debts and equities used in calculating insurers’ capital requirements under the risk-based capital [RBC2] were without distinction

as to whether or not the same are infrastructure-related,” he said.

Funa pointed out that the lowering of risk charges for insurers’ debt and equity investments in infrastructure projects was in response to a clamor of the insurance industry.

“Recognizing the ability of investments in infrastructure to drive economic growth in line with the priority of the government to narrow infrastructure investment gaps vis-à-vis the capacity of insurers to invest in long-term assets, I convened a committee to review the appropriate risk charges for this investment class, with the goal of crafting a prudentially sound mechanism to facilitate investment in infrastructure and at the same time safeguarding the financial stability of insurers,” he added.

Investments in infrastructure projects under the PDP shall be allowed and admitted as assets of insurance companies provided that the same are approved by the IC.

Covered activities

THE activities which may be undertaken as provided under the PDP include highways, railways, nonrail-based transit facilities, port infrastructure, air ports, warehouses, environmental and solid waste management-related facilities and climate-change mitigation and adaptation infrastructure projects.

“Considering that we have favorably responded to the clamor of the insurance industr y for t he lower ing of t he r isk

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Clear and present danger

THOSE carriers that show the greatest innovations also pose considerable threat to traditional insurers’ models. This is not only because they are doing things never previously conceived, but because they have the technology working now and incumbents have yet to build— or adopt others’—technology platforms.

That may not pose an immediate problem, but insurers must start preparations now if they are not to see their businesses damaged by “early adopters.”

Adopt ion is not a simple case of bolting on a few peripheral systems. Or be seen as a chance to refresh the business in a piecemeal fashion by simply moving traditional busi-

ness online. It offers the opportunity—and requires—total transformation of the existing business model.

How they handle this repositioning of the business strategy will likely determine whether they are considered a tinkerer or transformer and indicate how sustainable their business will have become.

Market commentators suggest the industry will have been transformed in as few as three or four years and no longer than a decade. This means insurers must have a digitally focused and automated digital-first/customer-first business that would be comparable to the tech giants of today.

Building the future on partnership

SOME incumbents have been investing in insurtech already with mixed results. They have accepted they cannot easi ly build tech themselves and may increasingly view insurtech companies as partners rather than competitors.

Most of the tech to be deployed in the next phase is expected to be on value chain innovation, to reduce cost, improve efficiencies and generate ecosystems that will support future insurtech developments.

This will represent a complete 180-degree shift in focus from processes to placing the customer at the heart of everything insurers seek to achieve.

Focusing on the customer allows insurers to develop a service that is considerably better than the existing model.

Products can launch quicker, meet customer needs better, cap-

B3

LandBank’s Q1 net income up 12% to ₧4.26 billion

By Bianca Cuaresma @BcuaresmaBM

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TATE-RUN Land Bank of the Philippines (LandBank) posted a higher net income in the first three months of the year, and said the higher profit will be used to expand the bank’s efforts to put up banking services in areas that need more financial access improvement.

The bank reported that it grew its earnings 12 percent from last year to hit P4.26 billion in the first quarter. This is also 14 percent higher than the bank’s first-quarter income target of P4.16 billion.

L a nd B a n k ’s f i r s t q u a r t e r growth, according to its President and CEO Cecilia Borromeo, may be attributed to the bank’s performance and the substantial increase in income from loans and investments. Interest income on loans jumped 69 percent as the bank’s gross loan portfolio grew to P867.32 billion, from P708.10 billion in March 2018.

Meanwhile, income from investments in financial assets grew by 43 percent to P6.36 billion from P4.44 billion.

Borromeo said the expansion in their balance sheet puts the government-owned bank in a “good position” to drive support for its priority sectors, especially to farmers and fishers, microenterprises and small and medium enterprises (SMEs), agribusiness and other development players.

“We work hard to maintain the bank’s sound financial position as the profits from our commercial banking operations allow us to move toward our bigger mission of promoting inclusive growth, especially in areas where financial services are not easily available or accessible,” said Borromeo.

She added that the bank is continuously investing in technology to pursue its inclusive growth thrust and to provide greater convenience to clients.

LandBank ’s total assets increased 16 percent to P1.89 trillion from P1.63 trillion, while deposits grew by 17 percent to P1.68 trillion from P1.44 trillion in March last year.

Total capital stood at P136.47 billion, a 26-percent increase from last year’s P108.37 billion.

The bank’s return on equity for the quarter was at 13.04 percent, while net interest margin stood at 3.42 percent.

The bank has 400 branches across the country, and these are supplemented by 61 branch-lite offices, 44 lending centers and 2,018 ATMs. It targets to bring its total number of branches to 410 by the end of the year.

Just recently, LandBank opened its 400th branch in Jagna, Bohol.

The bank said this branch marks its continuing “expansion efforts” to bring access to financial services and credit assistance, especially to the unbanked and underserved areas in the country.

PNB, 1st bank to join Philippine Business Coalition for Women Empowerment

Perspectives Digitize or die HE global insurance industry—like every other strand of commerce and government agency—is feverishly focused on leveraging the benefits of a digital environment. T he development and adoption of insurtech has a clearly defined progression. The first of these two phases began with a focus on digital distribution and data, the second was heavily focused on sales and marketing.

In the first phase, the underlying insurance product remained more or less the same, but some parts went digital.

The second has seen the emergence of risk carriers that are changing the underlying insurance product and using insurtech to automate the value chain. This second phase has seen considerable advances in new sources of data and the ways in which data is processed.

charges, we hope that they will take advantage of this change and utilize their capital and be key enablers for investments in infrastructure that the country needs,” he said.

In February 2019, the IC gave insurance companies in the country the go-ahead to invest their funds in state-led infrastructure projects, in a bid to boost the growth of the Philippine economy and help these firms meet the higher net worth requirement imposed on them for this year.

Funa issued Circular Letter 2018-74, which enumerates the guidelines on how local insurance companies can invest their funds in government infrastructure projects under the PDP. Under Circular Letter 2018-74, insurance and reinsurance firms may now invest in debt or equity security instruments for infrastructure projects under the PDP, participating either through the project proponents, financiers or sponsors, or through operation and maintenance contracts.

This year, insurance companies are required to comply with the increased net worth requirement of P900 million, coming from P550 million in 2016.

Under Republic Act 10607, or the Amended Insurance Code of the Philippines, new insurance industry players are required to have P1 billion in paid-up capital, while existing insurance companies need a paid-up capital of P550 million

by December 2016, P900 million by December 2019 and P1.3 billion by December 2022.

Monday, May 20, 2019

italize on a broad range of existing data and build on practical experience. These foster services and products that are relevant, and operate on a high-speed, customer-centric front-end.

Where to start?

THERE will be a major trend to API (application programming interface) or microservices architecture in order to work around the transactional legacy systems, but also allow interconnectivity with many other systems.

At all times, the customer must be at the center of the process design, and robotic process automation (RPA) will increasingly be deployed to offer better customer interaction and data harvesting.

Building a platform business requires state-of-the-art technology and very fast and flexible time to market. This is not achievable on legacy systems alone. Insurers will have to invest in customer-facing digital platforms, intelligent automation to streamline processes, and develop smart contracts for claims and predictive underwriting.

The excerpt was taken from the KPMG publication, entitled Insurtech 10: Trends for 2019. © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent memberfirms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.

All rights reserved. Printed in the Philippines.

For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

FROM left: PhilWEN Chairman and PBCWE Cochairman Ma. Aurora Geotina-Garcia, PNB Chairman Florencia Tarriela, PNB President and CEO Wick Veloso, PNB SVP and Human Resource Group Head Schubert Caesar Austero, Investing in Women’s Jenny Clement and PBCWE Program Manager Amor Curaming

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HE Phi l ippine Nationa l Bank has joined the Philippine Business Coalition for Women Empower ment as its newest member company. A signing ceremony was held between the two parties, making PNB the first universal bank in the Philippines to become part of the coalition. PBCWE is composed of large and inf luential companies committed to gender equality in the workplace.

PNB Chairman Florencia Tarriela said, “By becoming a PBCWE member, we signify our commitment to promote equal rights and opportunities for our employees— regardless of gender.”

PBCWE’s eight member-companies lead efforts toward building a business case for gender equality, creating knowledge on best workplace practices, communicating the benefits of empowering women in the work force and

institutionalizing policies based on best practices.

As part of its commitment, PNB will undergo the Economic Dividends for Gender Equality (EDGE) Certification, a leading global assessment methodology and business standard for gender equality, which evaluates the workplace gender equality performance of an organization against global and industry benchmarks.

Tarriela said, “With this partnership, PNB is bringing gender equality to the next level. The EDGE Certification presents an exciting challenge. Our ultimate goal is to build and sustain an organization where the best talents thrive based on their competence and contributions.”

PBCW E was established in 2017 as an inaugural project of the Philippine Women’s Economic Network (PhilWEN) with funding support and in partnership with

Investing in Women, an initiative of the Australian Government.

“We are proud to have PNB in the coalition, whose members take gender equality seriously,” said PhilWEN Chairman and PBCWE Cochairman Ma. Aurora D. Geotina-Garcia. “We believe the business sector should not just talk about gender equality, but rather, walk the talk by implementing concrete actions in pursuit of its advocacy.”

Phi l ippine Nat iona l Ba n k , which is over 100 years old, is one of the country’s largest private universal banks in terms of assets and deposits. It provides a full range of banking and other financial services to its highly diverse clientele comprised of individual depositors, small and medium enterprises, domestic and international corporations, government institutions, and overseas Filipinos.

B4 Monday, May 20, 2019

VICE PRESIDENT LENI ROBREDO TO KEYNOTE E.C.O.P. CONFERENCE

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OW can business grow amid changes by emerging technology, disproportionate legislative agendas and changing work force?

These challenges will be addressed by Vice President Robredo as she delivers her keynote address before delegates to the 40th national conference of employers (NCE 40) organized by the Employers’ Confederation of the Philippines (Ecop).

The NCE 40 is slated on May 28 and 29 at Marriott Hotel Manila, carrying the theme “Futureproofing Business and Industry.”

Robredo is expected to provide directions on what strategies may be taken by enterprises

in preparing themselves, and ensuring the sustainability and viability of the organization in the wake of aggression the future is causing.

Among the sponsors of NCE 40 are Megaworld, Meralco, SM Inverstments Corp., Philexport, Philippine Chamber of Commerce and Industry, Yazaki-Torres Manufacturing Inc., Federation of Filipino-Chinese Chambers of Commerce and Industry Inc., Liwayway Marketing, Pag-IBIG Fund, Employees Compensation Commission, Toyota Motors Philippines, FEUNicanor Reyes Medical Foundation, Platinum Group of Metals, ICCT Colleges Foundation Inc., MIS Maritime Corp., Sunshine 100, Fortune Net and Amber-Kinetics Philippines Inc.

A.I.M. APPOINTS NATIONAL SCIENTIST DR. RAUL V. FABELLA AS FIRST HONORARY FACULTY

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HE Asian Institute of Management (AIM) is pleased to appoint eminent national scientist Dr. Raul V. Fabella as first honorary professor.

The institute recognizes the importance of national and international collaboration with the appointment of honorary professorships on distinguished and esteemed individuals who actively contribute toward academic enhancement and thought leadership.

Dr. Fabella is highly respected for his outstanding contributions in the field of economics, particularly for extending the reach of the celebrated Nash bargaining solution to more egalitarian Rawlsian grounds. Dr. Fabella’s research include diverse topics, such as the welfare effects of lobbying and rent-seeking, the efficiency of teams and partnerships, informal business networks, the properties of contracts under weak governance and the mathematical properties of the concave family of functions.

He is specially interested in the effect of weak state governance on efficient policymaking and is vocal in his appraisal of policies involving tax and public expenditure, currency overvaluation and the exchange rate.

Dr. Fabella’s work has been published in leading economics journals, such as the Southern Economic Journal, Journal of International Money and Finance, International Economic Review, Public Choice and the Journal of Public Economics.

As an AIM honorary professor, Dr. Fabella is expected to promote collaboration and advance the quality of teaching and research,

facilitate knowledge and experience sharing, and establish and strengthen linkages with other higher education and research institutions, business industries, government agencies, international development bodies, and non-governmental/civil-society organizations.

AIM board chairman Peter Garrucho, Jr., OBE, is particularly proud to welcome Dr. Fabella as part of the institute’s already outstanding faculty roster.

“It is an honor for us to have someone of Dr. Fabella’s stature join our academic community. His lifelong commitment to enhancing Philippine development and good governance is very much in keeping with our vision-mission, and we are excited at the prospect of his scholarly exchange not only with our professors but with our students, as well.”

Apart from receiving recognition as one of the country’s national scientists, Dr. Fabella has earned many distinctions. He was given the 1993 National Social Science Award by the Philippine Social Science Council, the 1993 University of the Philippines (UP) President’s Award for Outstanding Publications (Rawlsian-Nash Solutions) and the 2002 International Publication Award for “The Welfare and Political Economy Dimensions of Private versus State Enterprise”.

Dr. Fabella was also cited as a UP Diliman Most Outstanding Faculty Member from 19911993 and elected to the National Academy of Science and Technology as academician in 1995, in recognition of his research on the Nash bargaining solution and the Olson ratio.

MONDELĒZ DELIVERS TO SUSTAINABLE, MINDFUL MANUFACTURING

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ONDELĒZ Philippines shares its 2018 Global Impact Progress Report with significant stride against its 2020 Impact Goals.

The report highlights how the world ’s leading snacking company met a major global well-being target, achieving 15 percent of net revenue from portion control snacks, two years ahead of expectations. The report also describes advancements against the company’s 2020 global environmentalfootprint goals.

“We believe that consumers should not have to choose between snacking and eating right or to worry about the impact their snacking choices have on the world and their communities,” said Ashish Pisharodi, country director of Mondelēz Philippines. “Our company is playing a significant role in making snacking both sustainable and mindful by creating a future where people and planet thrive, and evolving our portfolio to inspire mindful snacking habits. We are proud of our global progress in 2018, particularly in well-being snacks, where we were able to reach a major goal ahead of [time]. We are also proud to share our local achievements, which contribute to these goals.”

The company focuses its efforts on areas where it can have the greatest impact and drive meaningful change at scale, in sustainability and mindful snacking.

Sustainable Snacking. Creating a future where people and planet thrive in by resilient ingredient-supply chains, reducing environmental impact and developing zero-net waste packaging; Reduce absoluteCO2 emissions from global manufacturing by 10 percent. The company’s plant in the Philippines now runs onsustainablegeothermalenergy,whichwill help reduce carbon emissions. It also utilizes a biomass boiler, which uses biodegradable fuel sources, like rice hull and coconut husks; Reduce global incoming water usage by 22 percent at locations where water is most scarce. On target to reach 2020 goal of eliminating 65,000 metrics tons of packaging, 98 percent of the local packaging used by the company in its manufacturing plant are already either recycled or recyclable;

Achievean18-percentreduction globally in total recordable incidents and 11-percent decrease in total incident rate for all employees. In the Philippines the company recently celebrated the achievement of 4-million safe effort hours in its plant; Mindful Snacking. This includes ref reshing snac k ing e x per ience, redefining product portfolio, inspiring mindful snacking habits focusing on savoring each bite and mobilizing innovative partnerships for impact.

Achieve global goal two years ahead of target, reaching 15 percent of net revenue from portion-control snacks. Portion-control snacks of the company, which are locally available, include Cadbury Dairy Milk Lickables 20g, Cadbury 5Star 15g, Mini Oreo pouch packs 23g, Oreo three-piece packs 29.4g, Cadbury Dairy Milk Share Packs 15g and belVita single 20g; Improve the nutrition and ingredient profile of our biggestselling brands. Locally, the sugar content of Tang powdered beverages has been reduced by as much as 40 percent since 2008; and Allocate 95 percent of the $50-million global investment to healthy lifestyle-community

partnerships. In the Philippines the company has adopted as many as 16 public elementar y schools, impacting 4,500 students, through feeding programs and other nutrition interventions under the Joy Schools program.

The company remains committed to using its global scale and focus where it can continue to make the biggest difference, providing a clear road map for the years ahead: Reducing environmental impact by committing to make all packaging recyclable by 2025; Scaling Cocoa Life sustainability program even further so, by 2025, all chocolate brands will source their cocoa from Cocoa Life; Minimizing food waste and endto-end carbon-dioxide emissions, and prioritizing water usage by 2025; Grow ing portion-controlled products to 20 percent of global net revenue by 2025; Including portion amounts and mindful snacking information on all packages globally by 2025; and Creating and continuing to invest in community resiliency and wellbeing through Mondelēz International Foundation.

LEADING FERTILIZER FIRM IN QUAGMIRE

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TOP executive and director filed a case before the Batangas City Regional Trial Court to order the management of a fertilizer trading company based in San Pascual, Batangas, to open its corporate books and records for inspection amid allegations of illegal company expenses.

In a complaint filed before the Batangas City Regional Trial Court on April 1, Jesus P. Mangubat, the vice president for finance and accounting, treasurer and director of Ferex Agrochem Development Corp., asked the court to order company chairman and President Ruben V. Gil, and four other executives to make available Ferex’s corporate books and records for examination.

The complainant is also seeking P400,000 in moral damages and P100,000 in attorney’s fees.

Ferex Agrochem Development Corp. is engaged in the business of importing, marketing, distributing, and trading agricultural fertilizers and allied goods.

Mangubat filed the case against Ruben Gil, executive assistant and director Jean Ruben S. Gil, chief accountant Milagros B. Celab, corporate secretary Amado C. Abenes and auditor Merla D. Edolmo.

In his complaint, Mangubat said that, “Through the years defendant Ruben began running Ferex as if it were his sole proprietorship” and that the defendant “made decisions without consulting or even against the consent of other directors and stockholders”.

Mangubat alleged that Gil made corporate decisions without any actual board meetings and put down opposition

with bullying tactics. “This eventually led to the departure of other original incorporators, leaving only plaintiff and defendant Ruben as original stockholders,” Mangubat said.

Mangubat accused Gil and four other Ferex executives of unauthorized company expenses in violation of Section 72(2) in relationtoSection144ofBatasPambansa68, or the Corporation Code of the Philippines.

Mangubat, Gil and few other friends incorporated Ferex as a dynamic, competitive and leading agricultural fertilizer company in the Philippines.

Based on the general information sheet in 2007, Mangabat owned 25 million shares, equivalent to 25 percent of the company, while his son Joseph Rafael S. Mangubat had 5 million shares, or 5 percent; and his wife Marilous S. Mangubat had 2.8 million shares, or 2.8 percent, for a total of 32.8 million shares, or 32.8 percent. Gil and his family had 65.6 million shares, or 65.6 percent.

Mangubat said that, five years ago, he lost operational control over Ferex’s finances, which were unilaterally and directly managed and controlled by Gil, which he shared with subordinates Celab and Edolmo.

Mangubat questioned Gil’s acquisition of two lots with a total area of 7.45 hectares in Barangay Camias, San Miguel, Bulacan, and registered in the name of the main respondent’s wife Marina S. Gil and her siblings.

The complainant claimed that Gil caused the development works on the Bulacan property without the board of directors’ approval, at the company’s

expense. “Respondent Ruben frequented and treated it as a leisure farm, staying there for days on ends,” he said.

Mangubatallegedthattheunauthorized development works on the property cost Ferex almost P6 million.

Mangubat alleged that, last May, he also discovered that Gil, in cahoots with Celab and Edolmo, “created a so-called personal expense account in the amount of P300,000 that defendant Ruben receives every month.”

“The board of directors never approved this personal expense account in a meeting duly called for the purpose,” Mangubat said.

Mangubat added that, with Gil’s unauthorized and unaccounted use and “possibly misappropriation of company funds”, he refused to lend his name, credit and property to the company.

“Seeing plaintiff as a threat to his decades-old rule, defendant Ruben, with the aid of his codefendants, began to systematically boot plaintiff out of Ferex,” Mangubat said.

Mangubat said his alleged termination was intended to further prevent him from accessing Ferex’s books of account and record of transactions.”

Mangubat said that, despite his repeated demands and filing of criminal complaint against Gil and other executives, “The defendants have to date failed and refused to allow plaintiff’s inspection of Ferex’s books of account and other corporate records.”

“On the facts and the law, defendants’ refusal to allow plaintiff’s soughtinspection is illegal, since there is now lawful ground for it,” Mangubat said.

, GREEN WARRIORS LEAD BLAZERS, 3-0 Sports BusinessMirror

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| Monday, May 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Not every NBA player will put body on line to take a charge TORONTO’S Kawhi Leonard is called for a charge on Milwaukee’s Ersan Ilyasova in Game One of the Eastern Conference finals. AP

GOLDEN State Warriors’ Draymond Green is all set to shoot over Portland’s Damian Lillard during the first half of Game Three on Saturday. AP

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By Anne M. Peterson The Associated Press

ORTLAND, Oregon—With Kevin Durant out, Draymond Green has taken it upon himself to boost Golden State.

And boy, has he.

Green had 20 points, 13 rebounds and 12 assists, and the Warriors beat the Portland Trail Blazers, 110-99, on Saturday night for a 3-0 lead in the Western Conference finals.

Green had his seventh career postseason triple-double and Stephen Curry scored 36 points for Golden State, which moved a win away from a fifth straight trip to the National Basketball Association (NBA) finals with Game Four set for Monday.

Warriors Coach Steve Kerr said it was one of the best games he’s seen Green play.

“I don’t even know what to say about Draymond,” Kerr said.

“He was a wrecking ball, destroying everything in his path.”

Durant, the two-time NBA Finals Most Valuable Player who was averaging more than 34 points during the playoffs, remains out with a sore right calf and his return is uncertain.

“When Kevin is not on the floor, I know I have to be more aggressive. So whether that’s attacking the basket, putting more pressure on the defense, I understand that,” said Green, who has had a triple double in each of the rounds during the playoffs—all on the road.

CJ McCollum had 23 points for the Trail Blazers, who led by 18 during the second quarter. Damian Lillard added 19 points, but Portland was hurt at the line, making just 20 of 33 attempts.

Golden State’s Andre Iguodala left in the third quarter with a sore lower leg. Kerr said he will have an MRI on Sunday. Iguodala played 17 minutes and had nine points.

After trailing 66-53 at the half, the Warriors mounted a third-quarter comeback to lead 82-79 going into the fourth.

Jonas Jerebko’s jumper pushed the lead to 90-82 with 7:26 left.

Curry’s 3-pointer made it 98-87 with just under five minutes to go, and Portland struggled to catch up—similar to their fourth-quarter fade in Game Two. Game Three was the first conference finals game in Portland since 2000. The Blazers lost that series to the eventual champion Los Angeles Lakers in seven games.

No team has ever come back from an 0-3 deficit to win in the playoffs. Only three series have gone to a seventh game after one team opened with a 3-0 lead.

“We’re going to give it our best effort on Monday. That’s all that matters,” Blazers Coach Terry Stotts said. “We’re going to give it our best effort and whatever happen, happens.”

On Thursday, the Blazers were up 15 at halftime and led by eight with 4:30 left before the Warriors rallied—boosted by Kevon Looney’s dunk with less than a minute left, and a gamesealing steal from Iguodala—for a 114-111 Game Two victory.

Both teams switched up their lineups for Game Three, with Portland’s Meyers Leonard making his first start of the playoffs at center. Enes Kanter, despite sustaining a separated shoulder in the first-round series against the Oklahoma City Thunder, started in all the previous games.

Leonard provided a spark and finished with a career playoff-

high 16 points.

Kerr started Damian Jones, who hadn’t started since December and had made just two previous appearances in the playoffs. Jones, who played in just 24 games in the regular season because of a torn pectoral muscle, collected three fouls in the game’s opening three minutes and headed to the bench.

Portland was boosted by the home crowd at the start, going up by 10 points in the first quarter. Seth Curry’s jumper made it 60-42 with 2:28 left until halftime.

The Warriors roared back, closing within 76-75 on Alfonzo McKinnie’s basket and pulling ahead on Looney’s layup to cap a 10-0 run. Golden State outscored the Blazers 22-6 to close out the third quarter.

SERGE IBAKA may start at center for Toronto. AP

Raptors in must-win situation at home K AWHI LEONARD and Kyle Lowry have more than held their own against Giannis Antetokounmpo and Khris Middleton so far in these Eastern Conference finals.

Other than some pretty boxscores, the Toronto Raptors have nothing to show for those efforts.

The supporting cast hasn’t supported much for Toronto, and with what is almost certainly a must-win Game Three of the East title series looming on Sunday night at home, Raptors Coach Nick Nurse is weighing lineup tweaks.

Nurse suggested on Saturday that Serge Ibaka may start at center over struggling Marc Gasol, and Norman Powell may get minutes that would figure to come at Danny Green’s expense.

“We’ve got to be better, man,” Nurse said on Saturday. “We’ve got to be more physical, we’ve got to hustle more and we’ve got to work harder.”

He may as well have punctuated that by adding “or else.”

In this playoff format that was put into play in 1984, teams that win the

first two games at home of a best-ofseven series have ultimately prevailed 94 percent of the time. And that’s the luxury Milwaukee has right now, leading the series 2-0 after rallying to win the opener and then controlling Game Two start to finish.

“We can’t rest,” Bucks Coach Mike Budenholzer said. “We can’t relax. We can’t assume anything.”

So the odds are stacked against the Raptors. Nurse was told the lack of success teams have when down 0-2 in a series, and insisted he doesn’t care.

“I don’t really give a crap about that,” he said. “I just want our team to come play their [butt] off tomorrow night and get one game and it changes the series.”

Leonard and Lowry are outscoring Antetokounmpo and Middleton 10777—which would figure to have been a boon to Toronto’s chances.

It hasn’t worked that way.

Add up everyone else’s scoring in the series, and it’s Bucks 156, Raptors 96. Rebounding has been one-sided in both games, with Milwaukee controlling

things on the backboards. Bench scoring has tilted heavily toward Milwaukee, as well.

“We’re just trying to be us,” Bucks center Brook Lopez said. “We’re not playing any differently, regular season or postseason. We’re just trying to go out there and play Bucks basketball. It starts with our defense. Getting stops.

Getting out. Playing in transition. Playing with pace. Sharing the ball and being aggressive and attacking the basket.”

The Raptors don’t have to look at the history books to know this series isn’t over.

All they need to do is recall the 2012 Western Conference finals. Leonard and Green were with top-seeded San Antonio, and Ibaka was with secondseeded Oklahoma City. The Spurs won Games One and Two at home—then lost the next four, and the Thunder went to the National Basketball Associaton Finals.

“We have another chance to bounce back on Sunday,” Gasol said. “That’s all that matters right now. That’s all that matters.” AP

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AKLAND, California—Toronto guard Kyle Lowry squarely planted his feet and braced for contact with Milwaukee Bucks athletic big man Giannis Antetokounmpo barreling down on him.

Lowry, one of the best in basketball at taking a charge, absorbed the punishment and drew a foul against the 6-foot-11 Antetokounmpo. These days, not everybody is willing to do what Lowry does in the fast-paced, open-floor NBA game.

“I think it’s kind of a lost art,” DeMarcus Cousins of the Golden State Warriors said of taking a charge.

Spurs Coach Gregg Popovich won’t argue that sentiment.

“It seems so, doesn’t it? You can count on one hand how many charges are taken over the course of five or 10 games, in some situations,” Popovich said with a chuckle. “You see it a lot more in college than you do in the National Basketball Association (NBA).

Maybe they’re protecting their contracts, don’t want to get hurt, I don’t know. There aren’t very many, that’s for sure.”

Successfully taking a charge is difficult and even those who are willing to try won’t always do so.

Yet, it’s a play that can change the momentum of a game during the pressure-packed postseason.

The 6-foot-1 Lowry goes into Game Two of the Eastern Conference finals on Friday night with a leaguebest 11 charges during these playoffs,

a stat the NBA keeps under “hustle plays.” The Raptors have drawn 16 charges and the Warriors were at 16 going into Thursday night’s Game Two win in the Western Conference finals against Portland.

There are several keys to it: Anticipate. Get in position.

Solidly square your feet and prepare to be run over, knowing the foul call won’t always go your way.

“You’re going to have to stand in there. The one thing I’m super proud of our defense is we stand in there and we take hits, and we take charges,” Raptors Coach Nick Nurse said. “I don’t have the numbers but we’ve got to be up there really close to leading the playoffs or leading the league.”

Golden State defensive leader Draymond Green thrives in the middle of the action, but he knows firsthand about calls not going his way.

Green failed to get the favorable whistle in the final minute of an overtime road loss against Houston in the last round. Green seemed to have position when James Harden drove the lane but no call was made. Replay showed what appeared to be a textbook charge, and the NBA Last-Two Minute Report ruled the next day a charge should have been issued.

The play came outside the restricted area, which is defined within the NBA rules as an arc of a 4-foot radius measured from the center of the basket and an area in which a defensive player cannot step in to take a charge.

“At the end of the day if that’s something you like to do you’ve got to be all right with some of them not going your way because they are really subjective,” said Golden State guard Stephen Curry. “Whether you were slightly moving side to side or your feet were planted or the charge circle debate, you’ve just got to take the good with the bad. The ones who do it well get the benefit of the doubt more times than not for sure.”

There are players in the league who stand out for consistently doing it well and getting the call—Lowry, Clippers guard Patrick Beverley, Boston’s Marcus Smart and Cousins.

“It’s a big play. All of us can’t be up there and be rim protectors and dunk the ball,” Rockets star Chris Paul said. “It can definitely ignite the crowd. Charges are huge and there’s not a lot of guys in the league who do that.”

Not many teams have elite shot blockers anymore either, so taking a charge has become that much more important. AP

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Spieth shuns F interview after third round

SPIETH

Pogacar, van der Breggen dominate Tour of California

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ASADENA, California—Tadej Pogacar did the work necessary to win the Tour of California on the steep climb of Mont Baldy.

His team did the work it needed for him to win on the run-in to Pasadena.

With big names going on the attack midway through the final stage on Saturday, UAE Team Emirates was able to consistently keep their young star out of trouble. And when the field came back for a sprint at the Rose Bowl, all Pogacar had to do was raise his hands in overall victory.

Cees Bol of Team Sunweb won the group sprint ahead of three-time world champion Peter Sagan to win the seventh stage, while Jasper Philipsen capped a big day for Team Emirates with a third-place run.

Pogacar’s first WorldTour stage race victory came ahead of Sergio Iguita, who went on the attack on one of the day’s final climbs, and Kasper Asgreen of the strong Deceuninck-QuickStep team.

“This was my main goal this year,” said the 20-year-old Pogacar, who was inspired to pick up cycling by his brother. “I knew that I was prepared. I surprised myself a bit that I took the overall win, but I’m really happy and I’m looking forward to next year.”

In the three-stage women’s race, Olympic champion Anna van der Breggen held the lead she took on the first stage all the way to Pasadena, finishing 29 seconds ahead of teammate Katie Hall.

Elisa Balsamo beat Arlenis Sierra and Leigh Ann Ganzer in a sprint on the final stage.

“It’s really special,” said van der Breggen, who finished just behind Hall on the Stage 2 climb to Mount Baldy. “Katie won here last year and I the year before. We get to work together now. Yeah, getting a one-two result, we didn’t think that was possible before. It’s great for the spirit of the team.”

The short final stage took riders 126 kilometers from the San Gabriel Mountains to the Rose Bowl in Pasadena. And with Pogacar holding a 16-second lead on Higuita after his win on Mount Baldy, the contenders knew they had to make something happen on the short hills midway through the stage.

Max Shachmann got into an early breakaway with Davide Ballerini, Alex Hoehn and a handful of other strong climbers. Asgreen soon attacked the lead group, but their advantage over Pogacar’s chase group was not enough to prevent the field coming together during the final circuits around the stadium.

Deceuninck-Quick-Step, which had a strong week of racing, set the tempo for its sprinter, Fabio Jakobsen, and Team Ineos tried to set up Kristoffer Halvorsen with a lead-out. But it was Bol, riding for Team Sunweb, who timed his sprint perfectly to nip Sagan at the line. AP

ARMINGDALE, New Jersey—Jordan Spieth’s third round in the final group of the Professional Golfers’ Association (PGA) Championship with runaway leader Brooks Koepka will have to speak for itself.

Spieth didn’t talk to the media.

Minutes after signing his scorecard on a scrambling round of two-over 72, the 25-yearold Texan refused a request by The Associated Press for an interview.

A man with Spieth said no one in the media had asked to talk to the player after the round and he was not going to do a one-on-one interview.

Spieth, looking to become the sixth player to win the career Grand Slam, spent five minutes signing autographs for fans around the putting green at Bethpage Black. He then started to walk to the clubhouse when he was approached again by the AP, once more asking for an interview.

He was polite in his refusal, but he would not discuss his round that included two birdies, two bogeys and a double bogey. He will enter the final round tied for eighth place with Adam Scott, Patrick Cantlay and Xander Schauffele at three under, nine shots behind Koepka, who has a seven-shot lead.

“I did eight [interviews] yesterday and I think I have said most everything to be said,” Spieth said as he turned and walked away. “I’m good.”

Spieth, who shot 69 and 66 in his opening two rounds, said he would talk after the final round.

His third round was all over the place on the 7,459-yard public course. He hit seven of 14 fairways, 10 of 18 greens and needed 30 putts.

His main problem was he couldn’t get anything close to the pin. His birdie putts came from 13 and 7 feet on Nos. 12 and 13. His double bogey on No. 9 resulted after he found a greenside bunker from the fairway, had his bunker shot land 47 feet from the hole and three-putted.

A shot from the fairway to a greenside bunker also cost him a bogey at No. 4. Missing the fairway led to a bogey at No. 16.

Spieth is winless since the 2017 British Open at Royal Birkdale. He had chances on the back nine of two majors last year and failed to capitalize.

In the eight stroke-play events this year when he played on the weekend, Spieth on average has finished 14.5 strokes behind the winner. He has yet to finish in the top 20, with his best result a tie for 21st at the Masters. AP

BROOKS KOEPKA checks his line from the rough on the 13th hole during the third round on Saturday. AP

KOEPKA KEEPS 7-STROKE LEAD

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ARMINGDALE, New York—Brooks Koepka is on the cusp of some elite company at the Professional Golfers’ Association (PGA) Championship—in the record book, not on the leaderboard.

He is all alone on Bethpage Black, the public course he has turned into his private playground.

Koepka wasn’t at his best, particularly with his putter on the toughest scoring day of the championship, and he still kept everyone far enough behind to make the final round feel more like a victory lap.

With an even-par 70 that featured a pair of three-putt bogeys, he kept a seven-shot lead and earned another entry in the record book with the largest lead since the PGA Championship switched to stroke play in 1958.

No one has ever lost a seven-shot lead in the final round at any major, or even a PGA Tour event.

That leaves Koepka 18 holes away from joining Tiger Woods as the only back-to-back winners of the PGA in stroke play. He is one round away from becoming the first player to hold back-to-back major title at the same time.

Not since Hal Sutton in 1983 has anyone led

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ESARO, Italy—Caleb Ewan of Australia sprinted to victory on the eighth and longest stage of the Giro d’Italia on Saturday, while Italian cyclist Valerio Conti remained the overall leader.

Ewan, who rides for Lotto-Soudal, edged Elia Viviani and Pascal Ackermann in a bunch sprint at the end of the 239-kilometer leg from Tortoreto Lido to Pesaro.

“Determination and the help of the team made me a winner today,” Ewan said. “We’ve been trying for seven days to get this win. I’m just so happy.

“I wanted to be first in the last corner, but it was still a long way away, so it worked better to get out of Ackermann’s wheel. I knew I had a good kick and I went around him.”

Conti, who has worn the pink jersey since finishing second on Thursday’s sixth stage, remained one minute, 32 seconds ahead of Jose Rojas and 1:41 ahead of Giovanni Carboni.

“It was a hard finale because of dangerous downhills,” Conti said. “But I have a big team and

from start to finish in the PGA Championship.

And a third straight year winning a major? Woods and Phil Mickelson are the only players to have done that over the last 30 years. Tom Watson, Jack Nicklaus and Arnold Palmer are the only others to win majors in three straight years dating to 1960.

Asked if there was any doubt he would win, Koepka said flatly, “No.” He is unflappable in speech and on the golf course. Koepka has never bothered to check his heart rate at rest, but he figures it wouldn’t be much different from standing on the first tee of a major championship with a big lead and thousands of rowdy New York fans witnessing a master performance.

“Every time I set up to a golf shot, I feel like I know what the ball is going to do,” Koepka said.

“And if I don’t, then I guess I’d be nervous.... I’m trying my butt off, and from there, sometimes you need a little bit of luck. But I’d say I’m pretty flat-lined most of the time, as you can tell.”

He has all but flattened the strongest field in golf.

Koepka was at 12-under 198, the first time this week he did not set or tie a scoring record.

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shot 72 and was nine shots behind.

Spieth would not speak to a reporter after the round.

There was simply no stopping Koepka, who is one round away from a fourth major in his last eight tries and a return to No. 1 in the world.

The plan for Sunday was no different from the previous three rounds.

“It doesn’t really matter. I’m just trying to play good golf,” Koepka said. “If I can get off to a good start tomorrow, these first six holes are very scorable. I feel like if you can get one or two under after six, you’re in a good spot.”

That’s what worked on Saturday.

Koepka had birdie chances on the opening six holes and converted two of them, from five feet on a blind shot up the hill at No. 2, and a gap wedge that landed next to the pin and settled just over 2 feet away on No. 5.

His only struggle was missing a 2-foot par putt on the ninth hole for a three-putt bogey, and then missing the 10th fairway to the right to set up another bogey. The most important putt for Koepka was just under five feet for par on the 11th, which kept him from three straight bogeys. AP

EWAN WINS STAGE 8

I was well protected.”

Sunday’s ninth stage is the only time the Giro crosses into another country as it visits the republic of San Marino briefly for the uphill finish of the 35-kilometer time trial from Riccione.

That could mark the start of the real fight for overall victory, as every second lost will be tough to pull back when the race heads into the mountains.

“I will keep the maglia rosa also tomorrow after the time trial,” Conti added with confidence.

That day is also the race’s “wine stage” as it celebrates the red Sangiovese wines of the area.

The Giro finishes in Verona on June 2. AP AUSTRALIAN Caleb Ewan celebrates his stage victory. AP

Nadal gets revenge over Tsitsipas in Rome OME—After losing in the semifinals of three straight claycourt tournaments, Rafael Nadal looked more like his old, dominant self when he beat Stefanos Tsitsipas, 6-3, 6-4, to reach the Italian Open final on Saturday.

It was a measure of revenge for Nadal after losing to Tsitsipas in three sets at this stage in Madrid last week. This victory should also restore Nadal’s confidence as he seeks a recordextending 12th title at the French Open starting next weekend.

“The main thing is I am playing better. If I play better, I know I’m going to have chances to be in finals and to win semifinal matches,” Nadal said. “If you are not playing well, [beating] the best players of the world is much more difficult....

I have margin to keep improving. But I am doing the right steps to be there.”

In Sunday’s final, Nadal will resume his rivalry with top-ranked Novak Djokovic, who faced an

“I think we’re all playing for second,” said Luke List, one of four players tied for second.

Dustin Johnson tried to make a run with six birdies, only to stall with five bogeys in his round of 69. No bogey was more damaging than the 18th. A drive into the fairway would have given the world’s No. 1 player a reasonable shot at birdie.

Instead, he sent it right into bunker, came up well short into the native grass, left the next one in the bunker and had to scramble to limit the damage.

That kept Johnson from joining his close friend in the final group.

Koepka will play the final round with Harold Varner III, whose week began with plans to play a practice round with Woods on the eve of the PGA Championship until Woods called in sick. Varner birdied the 18th to cap off a bogey-free 67 and lead the group at five-under 205 that includes Jazz Janewattananond (67) and List, who holed two shots from off the green for a 69.

Jordan Spieth did not put any pressure on Koepka at all. Playing in the final group on the weekend for the first time since the British Open last summer, Spieth didn’t have a realistic birdie chance until the sixth hole, and he missed that one from eight feet. He

unusually high number of drop shots from Diego Schwartzman before winning 6-3, 6-7 (2), 6-3.

Djokovic also required three sets to eliminate Juan Martin del Potro in the quarterfinals, meaning he has been on court for more than 5 ½ hours over the last two days.

It will be the 54th career meeting between Djokovic and Nadal, with Djokovic leading the series 28-25. The pair has split the four Italian Open finals they’ve played. They last met in the Australian Open final won by Djokovic in straight sets.

“He’s my greatest rival of all time,” Djokovic said. “Every time we get to play each other it’s a thrill. It’s the ultimate challenge.”

Nadal is aiming for a record-extending ninth trophy in Rome while Djokovic is seeking his fifth title at the Foro Italico.

Nadal is in the middle of his longest title drought to begin a season since he came onto the scene in 2004. His last trophy came last August in Toronto. AP

Del Monte eyes Luzvimin repeat

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EL Monte sets out for the 2019 Champion Luzvimin Invitational Golf Tournament with a practically intact crew, eyeing no less than a successful title-retention drive when the event is held from May 29 to 31 at Cebu Country Club in Cebu City.

Martina Miñoza, Leslie Icoy, Kiara Montebon, Saraiah Rheaume and Class B individual winner Sofia Abarcas, who led Del Monte’s runaway triumph over fancied Manila Southwoods-Masters in the centerpiece Diamond division at Taal Splendido last year, are back to anchor the team’s bid in the 54hole championship organized by the Women’s Golf Association of the Philippines.

Maura Quijano completes the Del Monte roster, which will miss the services of former mainstay Pamela Mariano, now the spearhead of Team Pueblo de Oro in the event sponsored by Champion, which gathers the leading golfing ladies from the country’s top courses.

The Del Monte ladies turned what was expected to be a fierce final-round shootout with Southwoods into a victory walk, closing out with an impressive 194 to reclaim the crown they won at Rancho Palos Verdes in 2016 via a whopping 21-point romp.

But Southwoods has toughened up in an attempt to get back at Del Monte and reassert its might in the six-to-play, four-to-count event held under the Molave scoring system, tapping top amateur Laia Barro to backstop a squad made up of Loralie Roberto, Claire Ong, Christine Naidoo, Claudine Garcia and Deanna Samaniego.

Keen competition is also seen in individual play with the flat but tight layout providing a different kind of challenge for the field in all four divisions, including the Emerald, Ruby and Pearl categories.

The hosts hope to flash their local knowledge of the course on a team built around Mary Kim Hong, Crystal Neri, Riko Nagai, Jyra Wong, Catrina Martinez and Jeanette Chiu while Palos Verdes will be led by Charilyn Kayama, Victoria Tan, Myung Seon Park, Stella Barnes, Lilibeth Crisologo and Mereane Siason.

Aside from Mariano, Pueblo de Oro will pin its hopes on Juliane Borlongan, Alethea Gaccion, Marife Carmichael, Gladys Opitz and Jennifer Chua, while last year’s Class A individual titlist Mariel Tee will carry the cudgels for Team Valley Golf along with Inez del Rosario, Cielo Fregil, Jocelyn Sevilla, Belinda del Rosario and Cecile Esguerra.

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Monday, May 20, 2019

HAIL LADY EAGLES!

By Ramon Rafael Bonilla

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TENEO, unlike in years past, wasn’t exactly the favorite to win the crown in Season 81 of the University Athletic Association of the Philippines women’s volleyball tournament.

A season-opening loss to archrival De La Salle added log to the fire that the Lady Eagles are not championship material this season.

Add that Game One setback to a fired up Sisi Rondina, Eya Laure and the entire University of Santo Tomas (UST) side and the Lady Eagles were, again, not in a caliber capable of winning it all.

But they proved doubters wrong and turned the tables around against the inspired and hungrier Golden Tigresses with an emphatic 2517, 25-22, 25-22 Game Three victory on Saturday before a crowd reached 21,437-strong at the MOA Arena.

Title No. 3 locked and delivered safely to Katipunan—much like in those days when Alyssa Valdez was the Lady Eagles who won it all for Ateneo.

“It’s not how you start, but it’s how you end,”

THE Ateneo Lady Eagles proved their doubters wrong. NONIE REYES

CARIÑO TO DON PHL COLORS IN LE TOUR E

L JOSHUA CARIÑO returns to defend his title as stalwart of the Philippine National Team in the 10th running of the Le Tour de Filipinas set from June 14 to 18.

Cariño won last year’s race that finished at Burnham Park in Baguio City as a rider for Philippine Navy-Standard Insurance (PNSI) to become the third Filipino champion of the International Cycling Union race after Baler Ravina (2012) and Mark John Lexer Galedo (2014).

For this year’s Le Tour, PNSI team owner Ernesto “Judes” Echauz, one of PhilCycling’s major stakeholders, agreed to have the team race for flag and country as part of the national riders’ preparations for the 30th Southeast Asian Games in December.

Joining Cariño in the Le Tour that has been elevated by organizer Ube Media Inc. to a five-stage Category 2.2 event are fellow veterans Jan Paul Morales, Ronald Oranza, Junrey Navarra and Jhon Mark Camingao.

The other national team members, meanwhile, will be racing for their mother clubs, including Felipe Marcelo of 7-Eleven Roadbike PhilippinesAir21 (continental) and last year’s Le Tour Best

Young Rider and Cariño’s younger brother, Daniel Ven Cariño, of Go For Gold (continental).

Bike X Philippines is the fourth local squad that will be facing a tough challenge from 11 foreign teams, almost all of which are UCI continental teams. Five riders are racing for each of the teams.

The Le Tour kicks off on June 14 with a short yet demanding 129.50-km Stage 1 on an out-and-back course marked with several climbs in Tagaytay City. The tour entourage transfers to Lucena City in Quezon province where the cyclists will spend the night before Stage 2 on June 15 that will be a long 194.90 kms from Pagbilao to Daet in Camarines, Norte.

Stage 3 on June 16 will be 183.70 kms from Daet to Legazpi City and Stage 4 will cover 176.00 kms from Legazpi City via Sorsogon and Gubat and back to the Albay capital.

Stage 5 will also be out-and-back in Legazpi City but this time it will be via Donsol in Sorsogon for a total of 145.80 kms.

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TOTAL of 48 local and international teams will gather in Boracay as the Beach Volleyball Republic hosts the International Volleyball Federation Beach Volleyball World Tour from May 23 to 26 at the White Beach House in Station 1.

Several top-notch pairs will represent the country, including University Athletic Association of the Philippine Season 81 Most Valuable Player Sisi Rondina of University of Santo Tomas and Petron spiker Bernadeth Pons in the women’s side.

There will be 28 teams in the men’s division, while 20 pairs will be competing in the women’s division of the tournament that offers FIVB points for the world rankings.

BVR cofounder Bea Tan said the competition is a platform to further promote beach volleyball in the country.

“We’re looking at this FIVB Beach Volleyball

EL JOSHUA CARIÑO is out to defend his crown

the Filoil Flying V Centre in San Juan.

The boys also get their turn in the session presented by San Miguel Corp., Braska Restaurant, Tapa King and the Philippine Amusement and Gaming Corp. as the Beermen talk about what’s next following their successful retention of their Philippine Cup. Coming over for the champion franchise are Coach Leo Austria, Marcio Lassiter, Chris Ross, Von Pessumal and import Charles Rhodes.

The forum starts at 10 a.m.

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Niyomchon and Donlapatchai Niyomchon.

Veteran Jay Bayron is the lone Filipino entry in the full packed 144-player roster that also drew bets from the US, Sweden, Australia, Colombia, Scotland, Malaysia, Argentina, South Africa and Korea as multi-titled Tony Lascuña begged off at the lastminute due to hand injury and the likes of Angelo Que and Juvic Pagunsan committed to play in Japan PGA also this week.

Miguel Tabuena, the first PGTA OOM winner in 2017, is competing in the European Tour in Denmark.

Joining the hunt for the top $17,500 purse in the 72-hole championship put up by the International Container Terminal Services Inc. and co-organized by Pilipinas Golf Tournaments Inc. are Thais WIsut Artjanawat, Thammasack Bouahom, Wongsakorn Choowong, Chonlatit Chuenboonngam, Jaturon Duangphaichoom, Pasavee Lertvilai, Nirun Sae-ueng and Panuwat Muenlek, Singapore’s Vikkash Babu, Gabriel Cheok and Deng Shan Koh; Aussies Jack Lane Weston and Sam Gervinas, South African Luke Trocado, Swede Fredrik From, Malaysian Kai Jei Low,Colombia’s Mateo Gomez and Sebastian Lopez, Charles Lee and Tarik Can of the US and Japanese Keisuke Takahashi, Ikeda Yu and Seiji Yanagisawa.

World Tour as a long-term project. We want to annually hold this big tournament which is not only an opportunity for our beach volleyball aficionados but also for the international community to take notice of the potential of the Philippines as a beach volleyball hub,” Tan said.

Tan will also compete with her Negros Occidental teammate Dij Rodriguez, along with Genesa Eslapor and Belove Barbon of UST, DM Demontano and Jackie Estiquia and Fiola Ceballos and Patty Orendain of Iloilo and Negros Occidental, respectively.

In the men’s side, Jade Becaldo and Mike Abria will banner Cebu. Ranran Abdilla and Jesse Lopez will lead National University and James Buytrago and Anthony Arbastro will campaign for UST. Manila hosted the World Tour event the Sands SM by the Bay last year.

Ramon Rafael Bonilla

Pons keeps crown with new partner

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ERNADETH PONS proved that she’s still the queen of the sand when she powered Petron XCS to its third straight title in the Philippine Superliga Beach Volleyball Challenge Cup late Saturday at the Capitol Beach Front in Lingayen, Pangasinan.

Playing without regular partner Sisi Rondina, Pons conspired with Dij Rodriguez in dominating Jackie Estoquia and Dhannylaine Demontano of Sta. Lucia Santorini, 21-10, 21-14, in the finals to clinch the gold medal in this prestigious summer spectacle.

The high-flying Rondina failed to make it as she focused on leading University of Santo Tomas in Game Three of the University Athletic Association of the Philippines women’s volleyball tournament best-of-three finals also on Saturday.

Still, Pons took care of business, leading the Blaze Spikers to a strong start and an even

PHL golf tour aces target top finish in Taiwan Open IGHT of the top 15 players in the current Philippine Golf Tour Asia (PGTA) Order of Merit ranking brace for a fierce duel against the best and the brightest of Taiwan Professional Golfers Association (TPGA) as they slug it out in the Daan Taiwan Open beginning on Thursday at the CCK Golf Club in Taichung.

The $100,000 championship is the first PGT Asia-sanctioned tournament abroad, highlighting its steady rise as one of the emerging circuits in the region. It is actually the first of two PGT Asia events to be played in Taiwan with the Nan Pao TPGA Open also scheduled from September 26 to 29 at Nan Pao Golf Club in Tainan City.

A third PGTA tournament abroad later in the year is also being finalized.

Burly Namchok Tantipokhakul of Thailand, who edged Finnish Teemu Putkonen in PGTA third season’s kickoff leg at Luisita last month, spearheads the 48-player strong Philippinebased field facing a different set of rivals on an unfamiliar turf, a wind-raked layout with wide but tricky fairways and elevated greens, thus putting premium on chipping.

Kammalas Namuangruk, also of Thailand who placed third at Luisita, is also in the fold along with Marcos Pastor of Spain, Singapore’s Choo Tze Huang, Japanese Keita Sudo and fellow Thais Natthapong

48 squads see action in FIVB beach volleyball tilt in Boracay

BVR cofounders Dzi Gervacio, Charo Soriano and Bea Tan, and PVL tournament director Tony Boy Liao, are joined by the men’s and women’s pairs that will represent the country in the FIVB Beach Volleyball World Tour in Boracay. NONIE REYES

BEERMEN, V’BELLES IN FORUM T’S going to be a star-studded session of the Philippine Sportswriters Association (PSA) Forum on Tuesday as five-time Philippine Basketball Association Philippine Cup champion San Miguel Beer joins stalwarts of the coming Premier Volleyball League (PVL) Season 3 Reinforced Conference at the Amelie Hotel-Manila.

PVL idols Alyssa Valdez, Myla Pablo, Jovelyn Gonzaga and Dzi Gervacio are coming over with league President Ricky Palou as they discuss the opener of the import-laden conference on May 26 at

an ecstatic Ateneo Coach Oliver Almadro said.

“We lost the first match of the season, and many people counted us out.”

“But we made it because of our faith and courage, and also the trust to each other,” he stressed.

Almadro has won three consecutive men’s volleyball titles for Ateneo and this one was his first for the women’s squad.

Ateneo had veteran spikers Kat Tolentino, Maddie Madayag and Finals MVP Bea de Leon to lean on in neutralizing the duo of Rondina and Laure.

Rondina and Laure, the season’s MVP and top rookie, respectively, gave the Lady Eagles a beating in Game One, 25-17, 25-16, 25-20. But they couldn’t sustain their form—and for Laure her powerful ankle—in Game Two and yielded, 26-24, 14-25, 25-21, 25-15 to find themselves reeling against the ropes.

And then Game Three.

It was virtually an all Ateneo show and only Rondina held for the girls from España.

Tolentino scattered 15 points, while Madayag and de Leon unleashed lethal hits that secured them the straight-set title conquest.

Almadro offered sweet words for the Tigresses.

“UST pushed us forward. They really had the passion and the talent,” Almadro said. “But my players trusted the system. It’s not yet perfect but we just put our trust to it.”

THAILAND’S Namchok Tantipokhakul shoots for back-toback victories in Taiwan.

stronger finish to dominate the Lady Realtors en route to claiming a grand slam.

“Sisi told me to defend the title,” said Pons, the former Far Eastern University star who will be reunited with Rondina in the FIVB Beach Volleyball World Tour in Boracay later this month.

“At first, I was a little worried to have a new partner because we all know how Sisi plays. But as they say ‘worry attracts problem’ so I changed my worry into trust. I know she’s already experienced playing on sand so I trusted her and she trusted me. We trusted and helped each other to claim this victory.”

Bianca Lizares and Jennifer Costas of Sta. Lucia Woodside clobbered Derie Rose Virtusio and Mary Rose Jauculan of Petron Sprint 4T, 21-16, 14-21, 17-15, to capture the bronze medal.

In men’s play, the pair of Edmar Bonono and Ran Abdilla of Cignal smothered the tandem of Kris Guzman and Efraem Dimaculangan of Foton to clinch the gold, 21-18, 19-21, 15-13, while Jason Lindo Uy and Philip Michael Bagalay of Philippine Army crushed Joshua Mina and Joshua Pitogo of Emilio Aguinaldo College, 21-17, 21-14, in the bronze-medal match.

Pirates eye victory No. 4

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YCEUM of the Philippines University seeks its fourth straight win in the Filoil Flying V Preseason Cup when it takes on the Far Eastern University (FEU) on Monday at the Filoil Flying V Centre in San Juan.

The game is set at 2:15 p.m.

The Pirates rallied to win their last two matches against the Adamson University Soaring Falcons and Letran Knights to take

the driver’s seat in Group B of the collegiate competition.

Lyceum is led by its game-changing twins JC and JV Marcelino, center Mike Nzeusseu and steady point guard Raymar Caduyac.

FEU is at 0-2 having lost to National University and Letran.

The Knights, on the other hand, are looking to bounce back from their disappointing loss to

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RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Queen Lady Eagles

IN the most unlikely of seasons since University Athletic Association of the Philippines (UAAP) Season 76 when Ateneo won its first women’s volleyball crown and had to defeat several teams with better win-loss records, the Lady Eagles have done it again as they defeated a gallant and unlucky University of Santo Tomas (UST) with their wondrous players and incredible coach.

Unlikely because La Salle was the favorite to win it. And University of the Philippines (UP) was supposed to be a major contender.

Although Ateneo lost Jho Maraguinot at the end of the last season (even if she did have a year of eligibility left), the Lady Eagles gave a good account of themselves when they made the Philippine Volleyball League finals where they fell to Creamline. While it was an indication that they can compete, any preseason success doesn’t always translate into UAAP gold. National University and UP know that all too well.

By the same token, the absence of Maraguinot also helped two players who would play a key role in Ateneo’s title run.

When Kat Tolentino went to Ateneo, it was said that she had the power of Alyssa Valdez. A freak injury during warm-ups of the preseason saw her knocked out almost immediately and she had to wrestle with the idea of playing again when her body healed.

Without Jho in the lineup, Kat became the go-to player. That also allowed Ponggay Gaston to move to the utility position and while she had an up and down season (mostly up), this is priceless experience that will make her a better player next year.

The two weren’t the only beneficiaries of a sudden departure.

When setter Jia Morado opted out of her final playing year two seasons ago, it gave Deanna Wong the playing time last season and that also prepared her for this year.

While some early departures can be beneficial, some others can be game changers.

Bea de Leon’s decision to play in her final year of eligibility is good. Without her, Maddie Madayag would have been alone in the middle.

That tag team in the middle is what made Ateneo a formidable force at the net.

And there’s the matter of the head coach.

I always said that as good as Anusorn Bundit was for Ateneo, the inability to really converse in English during game situations eventually hurt. Bringing in Oliver Almadro from the men’s team filled that need to converse and provide instructions, encouragement, or even jarring words to galvanize the Lady Eagles.

Almadro sure knows how to build teams.

During his first go-around with the Ateneo men’s team, he turned them into a Final Four material.

When he returned for his second tour of duty as Ateneo coach, he brought them to the finals.

They lost that year, but won the next three.

Now, he has a championship in the women’s division in his first season at the helm.

What an accomplishment that is considering where they came from aside from gliding under the radar early in the year.

In our previous analyses about the team, we’ve pointed out time and again that they had enough veterans with championship experience—Bea, Maddie, Kat, Deanna, Ponggay and Kim Gequillana. That’s priceless.

They know what it is like to be there; to win and to lose.

How big is this win for Ateneo?

It is massive. It comes during a week where the men’s football squad clinched top honors. It also comes in the same season where the men’s basketball team is the champion giving three titles in the three top sports in the country.

It is massive because now Ateneo has three coaches who are arguably some of the best if not the best in their field—Tab Baldwin (basketball), Jaypee Merida (football) and now, Almadro.

It is massive because it allows Ateneo to say that they have successfully moved on from the Fab Five phase to the Alyssa Valdez years to a bright and promising new one. the Pirates last Friday.

Letran led for most of the game only to see Lyceum rally in the last six minutes. The Knights will face an Emilio Aguinaldo College Generals side in the 4 p.m. tussle.

The Generals are flush with confidence after they ambushed the Bulldogs last week behind the stellar efforts of Marwin Taywan and JP Maguliano.

University of Santo Tomas, meanwhile, looks to get on the winning track when it battles Arellano University at 4:45 p.m. Rick Olivares

Sports

3YO colt without jockey races

BusinessMirror

to Preakness finish

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| Monday, May 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

WAR OF WILL, ridden by Tyler Gaffalione, crosses the finish line first to win the Preakness Stakes. AP

ANOTHER BIZARRE VICTORY THIS TIME AT PREAKNESS

By Stephen Whyno

ALTIMORE—Mark Casse completed a lifelong quest two weeks after the scare of a lifetime. And he did so in a race featuring a riderless horse that threw his jockey out of the gate and kept running.

Since he was a child, Casse wanted to win a Triple Crown race, and the well-respected trainer got that victory when War of Will bounced back from a bumpy ride in the Kentucky Derby to win the Preakness on Saturday.

Casse, 58, was more relieved than anything that his prized three-year-old colt didn’t go down in the Derby, which could’ve been a multi-horse catastrophe, and could finally take a deep breath following the Preakness.

“This is even I think probably more special given everything that we’ve been through,” Casse said. “I’m not even calling it redemption. I didn’t feel like he got his fair shot, and that’s all I wanted—a fair shot. And he showed what he had today.”

War of Will was unfazed starting from the inside No. 1 post position for the second consecutive race, even though that contributed to his rough run at Churchill Downs. Rising star jockey Tyler Gaffalione guided the horse along the rail in the Preakness and made a move into the lead around the final curve, holding off hard-charging late addition Everfast,

who was a nose ahead of Owendale for second.

All the while, Bodexpress—after ejecting Hall of Fame jockey John Velazquez—kept running around the Pimlico track and did an extra lap. An outrider tried to swoop in at the top of the stretch and corral Bodexpress, but the horse sped up and passed a few competitors near the finish line and kept going.

Technically, Bodexpress gets a did-not-finish.

“He wasn’t behaving well,” said Velazquez, who added he’s fine and would not seek medical attention. “When the doors opened, I was off right from the start and he kind of jumped sideways, and I had my feet out sideways and I lost my balance and went out.”

It was yet another bizarre scene in a Triple Crown season full of it.

Two weeks ago at the Kentucky Derby, apparent winner Maximum Security was disqualified for interfering with War of Will, and Country House elevated to first in the only on-track disqualification in the race’s 145-year history.

Casse was just thankful War of Will was healthy and decided to take his shot in the Preakness even though Maximum Security and Country House didn’t run.

It was the first Preakness run without the Kentucky Derby winner since 1996, but the 13-horse field was the largest since 2011. Go back to 1951 for the last time the Preakness was run without the top 4 finishers from the Derby.

“This is the Preakness,” Casse said. “We just won the

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WILDER FINISHES JOB QUICKLY

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The Associated Press

EW YORK—Deontay Wilder believes they are coming, the mega matchup with Anthony Joshua and the rematch with Tyson Fury.

Until then, he moved onto some business with Dominic Breazeale.

He took care of it quickly and emphatically.

Wilder got back into the win column on Saturday night, knocking out Breazeale with an overpowering right hand in the first round to defend his heavyweight title.

“There’s been a lot of animosity and a lot of words that were said and it just came out of me tonight,” Wilder said.

Wilder hurt Breazeale with a right to the head early in their fight at Barclays Center, but the challenger had recovered from that early onslaught. But there was no coming back from the right later in the round that immediately dropped Breazeale, who was trying to get up as referee Harvey Dock counted him out at 2:17 of the round.

“When I hit him with the right hand the first time, his body language changed,” Wilder said.

And with the last one, Breazeale’s body language crumpled.

Wilder (41-0-1, 40 KOs) was coming off his draw against Fury in December, the first fight of his pro career that wasn’t a victory. He wanted a rematch with Fury or a unification match with fellow champion Joshua, but settled for a mandatory defense of his World Boxing Council title when those couldn’t be made.

He ended it quickly, finishing off Breazeale (20-2) after being pushed hard in each of his last two fights.

Preakness. I really don’t care who was in it.”

Bob Baffert-trained Improbable was in it as the 5-2 favorite and finished a disappointing sixth. The Kentucky Derby and Preakness are the only races of Improbable’s career that he didn’t finish first or second.

“He just got mad and reared up,” Baffert said of Improbable’s antics in the starting gate. “After that, he was in a good spot. He just didn’t kick.”

War of Will had plenty of kick and put himself in position to become the first horse since Afleet Alex in 2005 and 19th all-time to fall short in the Derby but win the Preakness and Belmont. Winning the $1.5-million Preakness by a 1 1/4 length over Everfast, who wasn’t entered until Wednesday, was another illustration of War of Will’s mix of talent and grit.

“He’s got so much heart,” Gaffalione said. “We always knew he had the ability. We just had to get a little bit lucky, and today was our day.”

It’s a breakthrough for Gaffalione, who has become something of a rising star since being named top apprentice rider in 2015. Gaffalione, 24, was aboard War of Will for the colt’s sixth consecutive race and came away with the biggest victory of his young career.

“It really hasn’t even hit me yet,” said Gaffalione, who got advice on Saturday morning from idol Jerry Bailey. “I can’t even put it into words.”

Casse had plenty of words after the contentious situation

at the Kentucky Derby that spurred a lawsuit from Maximum Security owners Gary West and a 15-day suspension handed down to jockey Luis Saez. He took issue with West blaming War of Will and Gaffalione.

West took Maximum Security off the Triple Crown trail, but Casse was eager to get War of Will back on the track two years after Classic Empire finished second in the Preakness.

With the sport in turmoil after the deaths of 24 horses at Santa Anita Park since December 26 and an ongoing quarrel over the future site of the Preakness, Casse’s first Triple Crown victory is a tale of redemption for him and the horse even if he doesn’t want to call it that.

“I’m just very happy for Mark to get his first Classic win,” Gaffalione said. “Very happy for the horse.

He deserved it more than anything.

He’s so special.”

DEONTAY WILDER (right) knocks down Dominic Breazeale during the first round of their heavyweight championship match. AP

ALTIMORE—Unencumbered by a jockey and suddenly free to run wherever he darn pleased, Bodexpress decided to take a shot at winning the Preakness.

Taking one of the most memorable trips in the 149-year history of Pimlico Race Course, Bodexpress followed the leaders without a rider on board and at one point appeared to be a contender in the 13-horse race.

“You’ve got to be careful because some of them try to win,” said trainer Bob Baffert, who saddled race favorite Improbable. “I’ve had horses that try to win. They actually run a great race sometimes.”

From the moment the frisky three-year-old hopped from the gate, ejecting Hall of Fame jockey John Velazquez, craziness ensued. Running on his own in the second jewel of the Triple Crown, Bodexpress began his obligatory trip around the track, driven either by instinct or the desire to be part of the crowd.

Fortunately, Velazquez quickly rose from the dirt and scooted off the track without injury.

“When the doors opened, I was off right from the start.

He kind of jumped sideways,” Velazquez said. “I had my feet out of the irons so I lost my balance then, I went off.”

There was an indication that things weren’t going right when Bodexpress veered left from the post parade instead of right, along with the other horses.

“He was just not behaving good in the gate. He was not sitting really well,” Velazquez said. “He got me against the wall and the gate.”

Coming out of the nasty spill with his health was a positive, but the 47-year-old jockey won’t soon forget this (non) ride.

“When you come in here to a big race and then things like this happen with the horses, it’s disappointing,” Velazquez said.

An outrider tried to corral Bodexpress at the top of the stretch, but he wasn’t about to let the horseplay come to an end. The colt sped up and passed a few competitors near the finish line and kept going.

In fact, he ran the entire track again before finally calling it a day—a veritable victory lap for the social-media champion who was still trending on Twitter hours later.

Bodexpress, the Florida Derby runner-up in March, was placed last and officially gets a did-not-finish.

When has was finally done running, Bodexpress was fine.

The son of 2003 Belmont Stakes winner Empire Maker and career non-winner was finally brought under control after taking another lap around the track.

Turns out, Bodexpress wasn’t the only horse getting antsy in the gate. The same applied to favored Improbable, whose prerace dance turned into a sixthplace finish.

“He was acting pretty well and then he got fired up and then after that, when horses do that it just takes a lot of energy out,” said Baffert, who was denied a record-setting eighth Preakness win. “He got in the gate, and when he did that, I knew that was it.”

Regarding Bodexpress, Baffert could sympathize with Velazquez and appreciate what the other riders (and horses) were thinking as the jockey-less horse strode by.

“There are so many things that can go wrong in a horse race,” Baffert said. “It’s scarier for the horses that are in there because they’ve got to watch him the whole way.” AP

BODEXPRESS follows the leaders without a rider on board and at one point appears to be a contender in the 13-horse race. AP

Wilder weighed in at a little more than 223 pounds, a gain from the 209 he was at for the Fury fight, but still well below the 245 he set as a goal after feeling he was too small in that bout, in which he dropped Fury with a huge combination in the 12th round but had to settle for the draw when the challenger was able to get up and finish the fight.

An immediate rematch was expected before Fury surprisingly went another route.

“I understand what Tyson Fury did. When you get dropped on the canvas like that, I understand you have to get yourself back together,” Wilder said. “But the rematch will happen, like all these other fights will happen. The great thing is all these fights are in discussion. The big fights will happen.”

And Wilder won’t need any more pounds as long as he still has one of the most feared right hands in boxing.

Breazeale had downplayed Wilder’s power, saying heavyweights are supposed to hit hard. But he should certainly be a believer now.

He was challenging for a heavyweight title for the second time, having been stopped by Joshua in the seventh round three years ago in Britain. He said he had learned and grown from that fight, but there’s nothing that could have prepared him for what faced in landing just two punches before 13,181 fans in Brooklyn.

“This was a situation where he landed the big right hand before I did,” Breazeale said. “I thought I was going to come on in the later rounds. I’ll be back and go for the heavyweight title again.” AP

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Generous God

EAR God, 37 years ago today, my fifth child, Elpete came to this world. Because of Your Generosity he finished two degrees in college, got married and have three kids, is having a successful job, enjoying sports he is organizing with other companies and many other activities that call him to serve You, oh Lord. Like other parents, I am super grateful to Your abounding generosity. How You take care of my five children in their respective endeavors, I am forever thankful. The most I can do for You, oh God, is my constant consciousness to know You more, love You most and serve You endlessly, my Lord. 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

Flores de Mayo 2019: ‘Rosas at Busilak’ ROSA MYSTICA

Designer Paolo Blaco, with sagala April Tanhueco and escort Diego Furoni PAOLO

TOTA PULCHRA MISS CHARLIZE

@misscharlize

BLANCO FACEBOOK

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ITH the famous Manila Bay sunset as backdrop, 40 beautiful Filipinas wearing the finest Filipiniana paid tribute to the Blessed Virgin Mary at the “40th Grand Flores de Mayo: Rosas

at Busilak.”

“The much-awaited Mayflower event is organized by the Congregacion del Santisimo Nombre del Niño Jesus, [this year] with the help of the City Government of Pasay, SM Mall

of Asia, event venue SM by the Bay, Bless Amare Group of Cos., MetroEsthetico and Crowne Plaza Manila Galleria,” said Congregacion member and fashion director Ogee Atos. “It features the biggest and most relevant couture artisans in the [legitimate] Philippine fashion circle.”

Atos stressed that to be a part of an elite group of designers invited to this event—unequaled in the country in terms of prestige, scale and pageantry—is indeed a major privilege as it comes with the honor to be in the same league of the country’s great fashion artists, such as Ben Farrales, Pitoy Moreno, Aureo Alonzo, Joe Salazar, Danilo Franco, Gerry Katigbak, Pepsi Herrera, Renee Salud, Nolie Hans, Steve de Leon, Gang Gomez, Rholand Roxas, Barge Ramos and Ole Morabe.

“Their creations have been worn by the most charming beauty queens: Melanie Marquez, Abbygale Arenas, Kristine Florendo, Susan Ritter, Sara Jane Paez, among others, all within the four decades that have brought to the fore the artistry of the Filipino fashion designers in perpetuating the cultural and

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AND THEN SOME: A WHOLE NEW WORLD OF MAKEUP FOR PRINCESS JASMINE D4

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Flores de Mayo 2019: ‘Rosas at Busilak’ REINA DE LAS FLORES Designer Chico Estiva, with sagala Keinth Petrasanta and escort Maku Espelita CHICO ESTIVA FACEBOOK

Continued from D1 traditional mores in dressing, thereby keeping the heritage alive for the next generation to emulate,” Atos added.

Atos, “Mader Ogee” to industry insiders, invited me to serve as one of the judges at this year’s edition, tasked to choose the best creations adhering to the theme of “roses and purity.”

Designer Roland Lirio won “La Flor De Pasay,” as worn by escort Shido Roxas and sagala Mutya Johanna Datul.

My fellow judges Sarah Jane Paez (Binibining Pilipinas Universe 1989), Patty Betita ( Binibining Pilipinas International 1991) and Maricarl Tolosa (Binibining Pilipinas International 2001) and I found their Binibini sister Mutya (Miss Supranational 2013) the most beautiful sagala.

Designer Louis Pangilinan won “La Flor De Manila” with his sagala Kate Alyson Roño and escort Johannes Risler. Chico Estiva of San Pablo City, Laguna, won “Reyna de las Flores.”

Estiva’s sagala Keinth Petrasanta wore his festive Filipiniana. “In an arresting shade of red, this number personifies chastity and bloom in all its romantic details. The bodice and butterfly sleeves are fully beaded with a geometric pattern of glass beads riveting down the waist,” Estiva explained. “Sculpted lace details with full-on Swarovski stoning creep like tendrils on the sleeves, neckline and bodice and into the unconventional skirt of hundreds of layers of crystal tulle cut to form a columnar skirt resembling fragile petals.”

A baculo (back dress in petal form) of sculpted lace and glass crystals encrusted on the gown complete his interpretation of “Rosas at Busilak,”

with a trailing cape with a handpainted design of a stained-glass pattern with a cross and heart as focal points, and thousands of crystals framed within embroidered lace flourishes.

The escort Maku Espelita, a deadringer for actor Dennis Trillo, wore a coat barong Tagalog encrusted with

Swarovski in embossed embroidery in velvet red peau de soie.

There were so many astonishing creations, from the convoluted to the marvelous, as designer-judges Albert Andrada and Barge Ramos cited Federico Navarro of Zamboanga, Ole Morabe of Cavite City, Vince Sityar of Bulacan and Ronaldo Arnaldo (with

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Matt Czuchry, 42; Tony Stewart, 48; Tony Goldwyn, 59; Cher, 73.

help from his cousin/designer Ricky Vicencio) among the most impressive.

The most outstanding design of the night, though, was by Paolo Blanco, winning the top title of “Rosa Mystica,” with his sagala April Tanhueco (wearing earrings by Christopher E. Munar and fresh Ecuadorian roses by Dave Sandoval) and Brazilian escort Diego Furoni.

“The sagala gown is a serpentina cut made of nude Italian gazaar, embellished with customized deep red roses embroidery pattern. It was also hand-beaded with Japanese cut beads and red Swarovski crystals. The embroidery design is also my way of promoting the embroidery business in my province, Bulacan,” said Blanco, a former model. “The konsorte barong is my modern interpretation of our barong Tagalog. It has floral embroidery patterns to match the gown of our sagala.”

A few days after the grand Flores de Mayo, Mader Ogee visited his Black Mother, the event’s founder, Mang Ben Farrales.

“My admiration for him, my fashion hero, hasn’t waned. He continues to amaze me. He will be 87 this coming July 1st. Please continuously pray for his wellness and great disposition,” Atos said of the ailing dean of Philippine Fashion and founding chairman of the Congregacion.

“I showed him the photos and videos of the 40th Flores de Mayo and he could not help but get sentimental and found himself crying out of joy.

He is sending his congratulatory wave to everyone. It is such a joy to see him smile, and to hear that classic punch line, ‘Why not?’” n

Stylish summer stories RETAIL giant SM’s iconic in-house brand Parisian celebrates summer with great style and great stories by way of its summer collection.

Whether you’re headed for the beach, a weekend getaway, or simply enjoying summer in the city, the collection makes a statement with animalprinted shoes and even PVC-details. There are also espadrilles for those casual days and pointed mules for a night out. Parisian’s summer palette makes a splash with neutral tones and vibrant colors; and walks high with elegant stilettos and chic blocked heels.

Whatever your summer story may be, go about in great style.

HAPPY BIRTHDAY: Stay focused. Learn, research and discover what you need to reach your goals. Go directly to the source, and leave no room for error.

Don’t trust people who are persuasive or those who exaggerate. Pour your energy into positive personal changes that will make you feel good. This year is about using discipline to excel. Your lucky numbers are 4, 11, 18, 22, 29, 36, 44.

a

ARIES (March 21-April 19): Listen and learn.

Surround yourself with innovative people, but don’t lose sight of what’s doable. Your strength will come from using what you know will be beneficial and discarding what is not feasible. Personal gains look promising. HHHHH

b

TAURUS (April 20-May 20): Proceed quietly. Don’t reveal your plans until you feel you have taken care of every detail sufficiently. How well you do will depend on the amount of energy you are willing to put into achieving your goal or reaching your destination. HHH

c

GEMINI (May 21-June 20): Be open to suggestions, but don’t follow someone who has failed to present enough evidence to prove future success. Use ideas you gather to further your agenda, not help someone else get ahead. A joint venture isn’t in your best interest. HHH

d

CANCER (June 21-July 22): Refuse to let anyone meddle in your affairs. Concentrate on making a positive change that will give you the boost you need, as well as add to your popularity.

Romance is highlighted. HHH

e

LEO (July 23-Aug. 22): Use your intellect and connections to create opportunities.

You may feel tempted to make a move, physical change or snap decision, but think twice before jumping into something without doing the necessary research. Avoid a risky venture. HHHHH

f

VIRGO (Aug. 23-Sept. 22): Emotional situations should be addressed quickly so you can move on to undertakings that encourage greater productivity. Personal growth and physical improvements will bring high returns. Choose peace and love over discord. HH

g

LIBRA (Sept. 23-Oct. 22): You’ll face opposition if you are too open regarding your plans. Take care of details, and iron out any problems that have the potential to ruin your plans before you decide to present what you want to pursue. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Consider the changes you would like to make and the cost involved. If you do some of the work yourself, you will be able to stick to an affordable budget. A call for help will give you more leeway.

Romance is highlighted. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Refuse to let anyone talk you into something that could hurt your reputation or upset the people who love you the most. Say no to anyone using emotional tactics or persuasion to entice you into something you shouldn’t do. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Put your plan in place, and make positive changes at home, as well as to important relationships. Personal improvements you make will be well-received and add to your popularity. Changes to your eating habits and fitness routines will pay off. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Do what you can to help others, but not at the expense of your health, personal relationships or integrity. If someone is asking for too much, offer suggestions. HHHH

l

PISCES (Feb. 19-March 20): Too much of anything will lead to problems. Help others, but make sure you stick to your beliefs. Don’t appease someone who is trying to take advantage of you. Speak up if you don’t like what you hear or see. HH

GREAT style, great stories highlight Parisian’s summer collection.

BIRTHDAY BABY: You are relentless, energetic and industrious.

You are disciplined and organized.

COLOR your world: Multicolored pearl heels

‘no alcohol provided’ BY BRIAN TERNTE The Universal Crossword/Edited by David Steinberg

ACROSS 1 Poison shrub 6 Paul of Avengers: Endgame 10 Controversial crop letters 13 Montoya in The Princess Bride 14 Furniture giant 15 House for bros 16 White sale buy 17 “Feel free” 19 Inc., across the pond 20 Henri’s “very” 22 Actress Witherspoon 23 City fooled by a wooden horse 24 Burn slowly 26 Joker catchphrase 30 Muss up, as a tablecloth 31 The “A” of IRA: Abbr.

32 Shot that often gets smashed 35 Circle segments 36 Like a fast walk 38 Hilo shindig 39 Bake sale org.

40 Paint layer 41 Jeers 43 Alternate title for “December, 1963”

5 Library work stations 4 48 Barristers’ headwear 49 Novelist Walker 50 He won three World Cups 51 ___ for apples 54 The Golden Girls star 57 Eric Clapton classic 59 Red or black insects 60 Seniors’ organization 61 Apple MP3 players 62 ___ & Perrins 63 Tournament passes 64 Dice, for example DOWN 1 Cat’s sunning spot 2 Military subdivision 3 Look after 4 Sit in a wine cellar 5 Have power over 6 Chophouse selection 7 Small strings, briefly 8 AOC, for one 9 Mother’s ___ 10 Selfish drive 11 Cue shot with a curve

2 Weasel’s aquatic cousin 1 15 Provides energy for 18 Do a tiling job 21 Annual game with a flowery name 23 Baking amts.

24 Unleashes (on) 25 Fancy nonalcoholic drink 26 Shawl 27 Injured 28 Apt workout song 29 Yogurt-based Indian condiment 32 Pulmonary organ 33 Hippocratic, for one 34 Upper body sculpture 37 Pep rally cries 38 San ___ Obispo 40 Tide alternative 42 How harp music sounds 43 Black-and-white predators 44 Pipsqueaks 45 Band of conspirators 46 Coeur d’___ 47 Calf roper’s rope 50 Unadul-terated 51 Invitation advisory, or a homophonic

hint to the starred answers’ starts 2 Shoppe sign word 5 53 Low clef 55 Q key neighbor 56 Stable fare 58 Kwik-E-Mart proprietor

Solution to Friday’s puzzle:

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Monday, May 20, 2019

D3

BRITAIN’S Prince William

Prince William says Diana’s death was ‘pain like no other’ FROM left: Ryan Cayabyab, Eric Singson and Kristine Singson-Meehan

Let Candon captivate your senses ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

D

ESCRIBED in books as a fourth-class city of Ilocos Sur, the city of Candon will transform into a first-class city for culture, music and the arts this week as the firstever Candon Music Festival takes off on May 23 at the vast Bagani Campo grounds.

A brainchild of House Representative Eric Singson of the Second District of Ilocos Sur, the Candon Music Festival was formed with exciting goals in mind. “We aim to make it a venue to discover young and gifted musical artists. It is also a way to promote the many untapped tourism potentials of the city through music, arts and culture,” he said.

His core team includes Gov. Ryan Singson and Project Manager Kristine Singson-Meehan in cooperation with the Council for Culture, Arts and Tourism of the Second District of Ilocos Sur. Singson recalled that he got the brilliant idea when he attended the Montreal Music Festival in Canada many years ago. “It dawned on me that there was so much potential that a music and arts festival can do not only to a host city, but to the people, the delegates and the participantsm as well. It is an event that can awaken and reawaken one’s artistic senses and allow creativity to freely flow where it is supposed to go and be of use to as many as it could reach.”

For this big musical debut event in the city, Singson

handpicked only the best to make sure that the festival will not only reach its goals but also create a ripple to other parts of Ilocos, and nearby provinces.

Recently proclaimed National Artist Ryan Cayabyab has been designated as festival director for this threenight event.

Cayabyab admitted that he was a bit reluctant when the idea was first broached to him by Christian Molina, a cellist of the Manila Symphony Orchestra. “When I was told that Joy Sababan of the Philippine Philharmonic Orchestra was also part of the team, and it was a three-day event to feature as many musicians and performers that we could gather, I said they must be serious. And when Eric told me that they had a foundation in Candon that sends young musicians to music school, and he wants a musical event that will make a mark for the city annually, I was finally convinced to be their festival director.”

That foundation is known as the MDS Heritage Foundation, a nonprofit organization that has sent numerous gifted students to the Saint Paul’s University Department of Music to further hone their skills and natural talents.

Well-loved Ilocano musicans Noel Cabangon and Davey Langit are taking part in the event and will perform Ilocano compositions.

Among the confirmed performers for the first night are Imago, Banda ni Kleggy, the Philippine Cello Ensemble, Ronan Ferrer and Spongecola. The second night will have the Candon City Chamber Orchestra, Moonstar88, Tila Baliw, 6CycleMind and the Candon City Children’s Choir. For the final night, Orange & Lemons, Rivermaya, DJ Patty Tiu, Aimee Mina de la Cruz and the Cardona Youth Symphonic Band will entertain the crowd.

Cayabyab and the Singsons have all promised that it will be three nights of beautiful music and fun. So go to Candon and let it captivate your senses. n

Love, betrayal and vengeance take the spotlight HOW far would you go for the one you love?

Beginning today, May 20, GMA redefines the TV public’s afternoon viewing experience with a gripping story about the sacrifices a wife is willing to endure for the sake of her husband in Dahil sa Pag-ibig.

The original drama is topbilled by Benjamin Alves as Eldon, Winwyn Marquez as Portia, Pancho Magno as Gary, and Sanya Lopez as Mariel.

Eldon (Alves), who works as an OFW in Saudi Arabia, commits a grave crime that eventually lands him in jail. His wife Mariel (Lopez), who is left in the Philippines, is desperate to earn the “blood money” that will bail out her husband.

Portia (Winwyn), the wife of Eldon’s employer, is bent on putting him behind bars. Gary (Pancho), Mariel’s rich former lover, offers an indecent proposal that shakes her fidelity to Eldon. Driven by the fears and sacrifices of every wife who has an OFW for a husband, Dahil sa Pag-ibig tells the thought-provoking tale of the temptations and difficulties that a married couple confront when separated by distance.

Joining the cast are Sandy Andolong as Nanette, Mariel’s naïve mother; Dominic Roco as Roger, Eldon’s trusted friend and housemate in Saudi; Devon Seron as ChinChin, Mariel’s comical best friend; Kelley Day as Alison, Gary’s sophisticated girlfriend; Tep Tep Pineda as Justine, Mariel and Eldon’s lovable daughter; and Tetchie Agbayani as Clara, Eldon’s strict mother.

The series is another original creation of the GMA Drama Group under the supervision of Senior Vice President for

FROM left: Pancho Magno, Sanya Lopez, Benjamin Alves and Winwyn Marquez star in GMA’s new afternoon series.

Entertainment Group Lilybeth G. Rasonable, Vice President for Drama Redgie Acuña-Magno, Assistant Vice President for Drama Cheryl Ching-Sy, Senior Program Manager Cathy Ochoa Perez and Executive Producer Arlene Pilapil.

Under the helm of esteemed Director Ricky Davao with Lore Reyes as his associate director, don’t miss the world premiere of Dahil sa Pag-ibig beginning on May 20 after Bihag this afternoon on GMA.

LONDON—Prince William has spoken candidly about the death of his mother, Princess Diana, describing his bereavement as a “pain like no other pain.”

Speaking in a BBC documentary on mental health, William also says that his time working as an air ambulance pilot gave him the impression that death was just “around the door,” and the thoughts had become a problem until he spoke with someone.

The comments were part of a discussion about personal struggles that William shared with soccer stars Peter Crouch, Thierry Henry, Danny Rose, Jermaine Jenas and England’s Manager Gareth Southgate. Prince William and his brother, Prince Harry, have championed the cause of addressing mental-health issues, hoping their frank admissions on their own struggles will encourage others in need to seek help. AP

D4 Monday, May 20, 2019

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A whole new world of makeup for Princess Jasmine AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

T

HE Disney movie Aladdin is very special to me because as a new mother in 1997, I would put my baby to sleep while singing “A Whole New World.”

Okay, I am a horrible singer but a mother has to do what she has to do. I spent hours singing that song. To this day, my daughter and I consider that song “ours.”

The upcoming release of the live action adaptation of this animated classic has given way to a new version of the song (by Zayn Malik and Zhavia Ward), and I love it as much as the original version.

Thus, the news that one of the world’s biggest beauty brands, a personal favorite, is collaborating with the movie is news that’s very much anticipated. This, however, isn’t the first time the brand is collaborating with Disney.

In celebration of Disney’s all-new Aladdin, MAC Cosmetics has launched a special-edition, opulently packaged collection created to coincide with the release of the thrilling and vibrant live-action adaptation of the classic.

“MAC has teamed up with Disney to unveil a sumptuous range of lip, cheek and eye colors inspired by the beautiful self-determined Jasmine. This exciting new collaboration highlights the strength and beauty of Jasmine, with a color collection that shows she is confident and strong-willed, inspiring all of us to express ourselves in any way we desire.

Who needs an enchanted lamp to make their dreams a reality? With the Cave of Wondersworthy array of metallics, mattes, shimmers, and jewel-tones of Disney’s Aladdin Collection

by MAC, makeup lovers enter a world where

fantasies are fulfilled, and any look—from dramatic to demure—can be created with ease. Each item included in the collection will be adorned with special packaging inspired by the rich patterns and vibrant colors of Agrabah where Aladdin and Jasmine’s exciting story unfolds. Guaranteed to delight makeup addicts and Disney fans alike, Disney’s Aladdin Collection by MAC will be at the top of every collector’s wish list,” said the brand in a media release.

The collection includes four Lipsticks (P1,550): Friend Like Me (cool neutral beige in Amplified finish), Princess Incognito (neutral pinky rose in Matte finish), Rajah (muted red berry in Matte finish), and Whole New World (bright blue pink in Velvet Matte finish). All shades are limited edition.

I expect the best sellers to be Princess Incognito and Rajah, although Whole New World could be a dark horse.

There are three shades of Lipglass. Diamond in the Rough is gold with gold and pink pearl; Jewels on Jewels is a warm pink with gold shimmer, while Magic Carpet Ride is light pink with a pink pearl. All shades are limited edition.

The Crystal Glaze Gloss (P1,400) in a shade called Wish is a potted clear gloss that adds a hint of multicolored pearl to the lips is something similar to the one released in the Cinderella collection years ago, except that one was for the eyes.

The Powder Blush (P1,900), which comes in bigger pans, have two shades. Always One Jump Ahead is a Frost in gold with gold shimmer, while Your Wish Is My Command is a Matte in a deep golden brown. The blushes both have the genie’s magic lamp embossed in the powder.

The Princess Jasmine eyeshadow palette (P3,000) has nine metallic and matte shades inspired by the desert. The retractable pencil named Graphblack Black (P1,200) completes the look.

There is a single Pigment in Rose (P1450), which has a pinkish tint and copper sparkle.

The 13-piece collection will be available at MAC boutiques and counters on May 22, the same day the movie opens worldwide. n

NI NI DOES MORE OF GUCCI LUXURY brand Gucci, exclusively distributed

by Stores Specialists Inc. around these parts, again tapped renowned actress Ni Ni to continue her role as brand ambassador for Gucci for its eyewear advertising campaign for Spring

Summer 2019. She has been the face of the eyewear collection for the past four seasons.

In the current campaign, the settings is a desert highway in the heat of the day, with Ni Ni looking for a ride. She holds pieces of corrugated cardboard with her destinations written on them: “OUTTA HERE” and “SOMEWHERE.” Cars and lorries drive past as the Gucci hitchhiker tries to thumb a lift.

Inspired by cinematic imagery and shot by photographer Hugo Scott and art directed by Christopher Simmonds, the campaign is colorful and whimsical; the actress, dressed in Gucci and wearing Gucci eyewear, cuts a distinctive figure, a character in an imaginary road movie.

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Monday, May 20, 2019 E1

Preparing for a recession M

By Kevin Laczkowski & Mihir Mysore

ANY executives are already anticipating a recession in the next few years and quietly gearing up for it. The question for these executives isn’t whether to prepare, it’s how.

What does it mean to be a resilient company in a recession?

During the last downturn, resilient companies weren’t protected from the market because they had better products or services. In fact, most lost nearly as much revenue as industry peers during the recession; the outliers were from a few sectors that didn’t experience the downturn as strongly.

But by the time the recession had reached its lowest point in 2009, the “resilients” had increased their earnings before interest, tax, depreciation and amortization by 10 percent, on average, while industry peers had lost nearly 15 percent.

The resilients seem to have accomplished this by reducing operating costs earlier in the recession cycle,

and more deeply.

Their willingness to move early made them more likely to successfully weather economic shock. As the effects of the downturn became more and more apparent, resilient companies focused on building more flexibility into their investment-planning and operations in addition to pursuing continued earnings expansion.

The upshot is that resilients were entering the trough of the recession in much better shape than industry peers, with far more cash.

Resilient companies also focused on maintaining loyalty among high-value customers that were central to the company’s growth post-recession.

Future recessions, however,

will look different. For a start, today’s CEOs are more constrained in their ability to cut costs. Activist investors, pressure from Wall Street and other factors have already driven companies to become as lean as possible. Given the current debate on income inequality, combined with the increase in

Improving health care by ‘gamifying’ it

By Mitesh S. Patel, Stacey Chang & Kevin G. Volpp

P

HYSICIANS often struggle to help patients change their health behaviors.

Combining behavioral economics and “gamification”—putting game elements such as points and achievement levels into nongame contexts—holds promise for driving behavior change when a doctor’s advice, and patient’s good intentions, are not enough.

Members of our group recently evaluated 50 of the most popular smartphone applications for health and fitness, and found that while nearly two-thirds of the apps used game elements in their design, none incorporated several key insights from behavioral economics.

Most programs invite patients to join, framing their choice as an opt-in decision.

But we have found that opt-out framing significantly improves participation.

Another common feature of gamification programs is goal setting. We have found that it is

more effective for programs to establish a baseline for each individual and then engage him or her in personalized goal setting, with goals that gradually become more demanding and that adapt to ongoing performance.

In a test of gamification, 200 participants over 18 years old enrolled with their families and used either a smartphone or wearable device to track their physical activity as measured by how many steps they took each day.

First, they signed a precommitment pledge in which they agreed to try their best to achieve their goal. Second, they received points that were allocated up front, which they stood to lose if they failed to achieve their goal.

Third, we replenished participants’ points each week to give families a fresh start. Finally, we incorporated social incentives. Each day one member of a family was selected at random to represent the entire family. If that person achieved his or her goal, all family members kept their points; otherwise, everyone

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

lost points.

Dur ing t he t hree-mont h study, family members in the gamification program walked on average nearly a mile farther each day (1,661 steps) than they had at baseline, about 1,000 more than people in the control group. While their activity dropped somewhat after the game ended, they continued to walk more than members of the control group.

Subtle changes to program design and communications can have an outsize impact on how patients behave. That’s why embedding behavioral insights into gamification could represent a significant opportunity to improve health and well-being.

Mitesh S. Patel is the director of the Penn Medicine Nudge Unit and an assistant professor at the Perelman School of Medicine and Wharton School of the University of Pennsylvania, where Kevin G. Volpp is the Founders’ Presidential Distinguished Professor. Stacey Chang is the executive director of the Design Institute for Health at the University of Texas at Austin.

employee activism, cost cuts can create second-order consequences—hits to the brand, for instance, or political backlash, or reduced company morale. Slashing costs may end up being an inadequate tool for earnings growth.

As our research suggests, getting ahead relative to peers (even

slightly) during a recession gives companies an advantage that is tough to reverse when the economy improves.

Kevin Laczkowski is a senior partner in McKinsey’s Chicago office. Mihir Mysore is a partner in the Houston office.

HOW INVESTORS’ READING HABITS INFLUENCE STOCK PRICES

I

By Anastassia Fedyk

NFORMATION drives financial activity, and ensuring equitable access to that information is seen as critical to a well-functioning marketplace. But does the mere action of placing a piece of financial news in the public domain make it readily seen and efficiently reflected in stock prices? According to my and others’ research, not necessarily. The positioning of news, not just its newness, plays a pivotal role in how financial markets incorporate information.

In my research, I find that news articles placed on the front page or at the top of news web sites garner more reads. Readers also pay more attention to news about larger and better-known companies, to news published earlier in the week and to negative news.

And reprints of old news continue to spur market reactions, challenging the idea that financial markets absorb all news equally, based only on financial relevance.

Broker dealers and hedge funds are much quicker, on average, to click on any given piece of news than banks or large investment management companies. Hedge funds are also much more likely to be the first to get a piece of

news. Hedge fund readers, along with family offices, private equity firms and some broker dealers, are also among the least likely to read a piece of news that reprints old content. And they read far more news than any other group of finance professionals.

Does the more sophisticated consumption of news translate to more impact on the market? Yes. These market swings occur because news consumption creates disagreement among investors about an investment’s prospects. In“Disagreement After News: Gradual Information Diffusion or Differences of Opinion?” I show that a large portion of disagreement around news is driven by people getting the news at different times.

Bringing information into the public domain is extremely important, but so is sophisticated processing of the information. Publishers exercise discretion over which news to print and where; investors read and trade on these public releases. Both sides are vitally important for financial markets’ stability and efficiency, especially at a time when daily news releases number in the millions.

Anastassia Fedyk is an assistant professor at the Haas School of Business at the University of California, Berkeley.

Voice recognition still has race and gender biases

By Joan Palmiter Bajorek

V

OICE artificial intelligence is becoming increasingly ubiquitous and powerful.

Forecasts suggest that voice commerce will be an $80-billion business by 2023. But speech recognition has significant race and gender biases. As with facial recognition, Web searches and even soap dispensers, speech recognition is another form of AI that performs worse for women and nonwhite people.

Here’s a thought experiment: Let’s consider three Americans who all speak English as a first language. Say my friend Josh and I both use Google speech recognition. He might get 92 percent accuracy and I would get 79 percent accuracy. We’re both white. If we read the same paragraph, he would need to fix about 8 percent of the transcription and I’d need to fix 21 percent.

My mixed-race female friend, Jada, is likely to get 10 percent lower accuracy than me.

Dialects also affect accuracy.

For example, Indian English has a 78-percent accuracy rate and Scottish English has a 53-percent accuracy rate. Amazon and Google teams are working to improve that accuracy, but the problem has not yet been solved.

Disparities exist because of the way we’ve structured our data analysis, databases and machine learning. The underlying reason may be that databases have lots of white male data, and less data on female and minority voices.

AI is therefore set up to fail.

Machine learning is a technique that finds patterns within data.

When you use speech recognition, the system is answering the question “Which words best map onto this audio data, given the patterns and data in the database?” If the database has mostly white male voices, it will not perform as well with data it sees infrequently, such as female and other more diverse voices.

This is absolutely a matter of social injustice. And companies should be aware that the accuracy of speech recognition also affects customer purchasing decisions.

What can companies do? Be more transparent about your voice statistics, and encourage competition in the area. Remember that women and minorities have huge purchasing power— why wouldn’t you want to solve this problem?

Joan Palmiter Bajorek is the founder of Women in Voice.

E2 Monday, May 20, 2019 • Editor: Efleda P. Campos

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Lockton PHL launches 1st Legacy Awards

By Rizal Raoul S. Reyes @brownindio

T

Contributor

HE Philippine environment is in bad shape. It will take the involvement of various stakeholders to provide a sustainable future to the next generation of Filipinos.

In this regard, Lockton Philippines recently launched its first Lockton Philippines Legacy Awards

to address the environmental risks the country is facing right now.

“It is payback time for us, and

Letran marks quadricentennial with commemorative beep card

C

OLEGIO de San Juan de Letran is celebrating its 400th anniversary next year. As part of the celebrations, it will be releasing a limited edition of commemorative beep cards bearing the Letran 400 logo.

Especially designed for students, alumni and other beep card collectors, the Letran beep card will be sold at Letran Bookstore for P500 each, beginning August 1, 2019. The sale of the special cards is in conjunction with the fundraising program for the school’s grand celebration in 2020.

“We are celebrating our 400 years in 2020. We thank beep cards for partnering with us. One of the thrusts of our celebration is to give back, thus, we are targeting to have 400 scholars. This is one way of helping your beloved Letran celebrate its 400 years. Siempre Arriba, Siempre Letran!” said Jhennie Villar, cochairman of the Letran Quadricentennial celebration.

Colegio de San Juan de Letran was founded in 1620 by Don Juan Geronimo Guerrero, a retired Spanish officer, and Diego Santa Maria, a Dominican brother. Since then, it has survived wars and calamities and remained true to its commitment to pursue knowledge and excellence, producing stalwarts in the fields of medicine, sports, media and entertainment, business, and public service.

Letran kicked off its quadricentennial celebration in November 2016 and has since been celebrat-

ing it with special events, homecomings and tributes to alumni who have been part of weaving the school’s long and colorful history.

The celebrations are divided into phases (the past, the present, the future and forever) covering important parts of Letran’s story, among which is the Conquistar Nuevas Glorias (Conquering New Glories) phase, where celebrations dwell on the future, looking forward to everything it holds.

“Colegio de San Juan de Letran is ushering in a new era of positive developments and we at beep card are truly honored to be part of it. Students have always been among our biggest supporters and we believe that the special Letran beep card is a great way to showcase school pride,” said Peter Maher, president and CEO of AF Payments Inc. Letran’s main campus is located in Intramuros, Manila, accessible via LRT 1, LRT 2 and e-trikes, in which beep card is the main mode of payment. Those who will purchase the special edition Letran 400 beep cards will also enjoy the benefits of the planned expansion to establishments and tourist attractions within the Walled City.

Beep is a tap-and-go payment card used in all three elevated railways and select buses, PUVs, tollways and retail partners. It is reloadable and valid for four years.

More information about beep is available at its web site and official social-media pages on Facebook, Twitter and Instagram.

U.E. SETS FREE SEMINAR FOR H.S. GUIDANCE COUNSELORS ON MAY 24

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HE University of the East (UE) will provide high-school g uidance counselors (HSGC) a free seminar-workshop for professional development on Friday, May 24, from 8 a.m. to 5 p.m. The venue will be at the Dr. Lucio C. Tan Building’s fifth floor, UE Caloocan Campus, 105 Samson Road, Caloocan City.

With the theme “Counseling Practice in Light of Emerging Issues and Concerns,” the seminar-workshop, organized by the UE Marketing Department in coordination with the Guidance and Counseling Offices at the UE Manila and Caloocan campuses, will be having resource persons, namely Professor Roselle S. Basa, and Dr. Susana A. Estanislao, experts in their respective fields of professional practice.

A most sought-after lecturer, Dr. Estanislao, a registered guidance counselor and registered psychologist, and a counseling psychologist of In Touch Community Services, will talk on “Identifying and Managing Boundary Issues in Counseling” for the morning

session of this seminar.

Basa, UE’s compliance officer for Privacy, program coordinator for InformationTechnology at the Office of Curriculum Development and Instruction of UE, as well as teacher of informationtechnology courses at the UE College of Computer Studies and Systems, will discuss “Data Privacy Act [DPA]: Its Relevance in Today’s Guidance and Counseling” for the afternoon session.

About 300 invited HSGCs in public and private schools from the National Capital Region, Calabarzon, Camanava and Region 3 are expected to participate.

To confirm attendance and seat reservation, each invited participant should send the confirmation form on or before May 20, via telefax nos. (02) 735-8562, or (02) 363 1677; e-mail: jay_ortalla@ yahoo.com.ph, or eloida.dagumboy@ ue.edu.ph; or call tel. nos. (02) 735 8562, (02) 735 5472 loc. 458, 459, or 462, (02)736 0943, ask Joseph Ortalla, or Prof. Cristy Lumilan; tel. nos, (02) 367- 4572 loc. 163, ask Laurence Sison, or Prof. Dang Dagumboy.

we want to do it by addressing the environmental problem being faced

by Filipinos right now,” said Victorio Valledor, president and CEO of Lockton Philippines in an interview on the sidelines of the press briefing held in Makati City recently.

“Though it does not immediately come to mind when talking about business risks, the reality is a big chunk of the threats that we now face, are posed on our environment.

Similarly, the way businesses operate also has a big impact on the environment. We recognize that our collective prosperity, our very survival hinges on our ability to

lessen our impact on the environment and deal with the risks this brings,” Valledor added.

Valledor said the Lockton Philippines Legacy Awards aims to recognize research initiatives that promote responsible and efficient use of resources and help bring positive change to people toward protecting the environment.

He said the competition wants to reach out to the youth because they will be the ones who will be managing and leading the country.

“That is why we are launching the first-ever Lockton Philippines Legacy Awards, a program that hopes

to engage brilliant young minds in the effort to heal the planet we call home. The program is open to college and university students across the nation who have solutions or ideas that local businesses can implement to mitigate their impact on the environment,” Valledor said.

“We are looking for ways to refine local business practices and promote a better livelihood for all, one that does not harm our planet any further. We particularly want to reach schools in the provinces —those that haven’t had the opportunity to join competitions such as the Legacy Awards,” he added.

The competition requires participants to submit a comprehensive and in-depth action research proposal that offers better practices for businesses to operate. It is open to teams of three to five Filipino college students currently pursuing a BS or BA program in any Philippine tertiary education institution.

Each team must have one faculty adviser who is duly recognized by the school.

Cash prizes of up to P300,000 are at stake. Deadline of submission of entries is on September 2, 2019. All winning entries will be announced in October.

CCA MANILA UNVEILS PIONEERING HALAL CULINARY ARTS PROGRAM

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HE country’s top and pioneering culinary school, the Center for Culinary Arts (CCA Manila), proves once again it is the leader in advancing the standards of the Philippine culinary landscape as it unveils a first-of-its-kind “Halal Culinary Arts” program.

Halal food has been available in the Philippines for a long time, but many Filipinos are not knowledgeable about halal cooking and its various components. Filipino Muslims and tourists from Muslim countries continue to have difficulty looking for restaurants and eateries serving authentic halal food, especially in Metro Manila.

“Halal is not associated with religion alone. It’s a lifestyle and a food-safety standard. I believe that through our Halal Culinary Arts program, we can ensure skills for the preparation, cooking and serving of foods that are delicious, clean, safe, nutritious, sustainable and ethical,” said Dr. Veritas Luna, chancellor for Education of CCA Manila.

CCA Manila has already welcomed the first batch of students for the program. They underwent a rigorous 16-day comprehensive hands-on program totaling 102 hours—the most number of handson hours compared to other culinary schools.

THE first halal-certified culinary course was launched in CCA Manila on April 25, 2019. Present during the launch were (from left): The Cravings Group Director Rico Trinidad; Commissioner Analiza G. Flores-Malayang, former head of the National Commission of Muslim Filipinos; Dr. Veritas F. Luna, chancellor for Education of CCA Manila; Commissioner Samad Pangandaman, current head of the National Commission of Muslim Filipinos; Marinela G. Trinidad, The Cravings Group president and CEO; and Ustadz Alexander Sultan, president of the Halal International Chamber of Commerce and Industries of the Philippines Inc.

“The students of this program are able to develop their cooking skills, train their palate, work in teams and learn discipline while applying the principles of halal cooking,” said Dr. Luna, noting it is CCA Manila’s dream to produce professional halal-certified chefs.

“We have more than 10 million Muslim Filipinos, and we know for a fact that many of them would like to join the hospitality industry. CCA Manila is providing them a strong

and professional career path for culinary arts,” Dr. Luna noted. “This program will reach out not only to Filipino Muslims who wish to build their culinary enterprise based on halal principles, but also to those who wish to cater to foreigners or work abroad in Islamic countries.

A CCA Manila diploma will surely give them an edge.”

CCA Manila also aims to help the country’s economic growth through culinary tourism, manu-

facturing, food businesses and culinary agri-preneurship; and the Halal Culinary Arts program is one of the innovative programs that will be introduced by the school this year.

CCA Manila is now accepting applicants for the second batch of students for the Halal Culinary Arts program. Slots are limited.

Course fee includes ingredients for all recipes, lecture manuals and uniform.

ICATS marks 9 years with launch of new programs, scholars

W

ITH more than 60 batches of enrollees, leading flight-attendant school International Cabin Attendant Training School (ICATS) continues in its mission of helping young dreamers pursue a career in the airline-service industry to mark nine years of operations.

ICATS–recently accredited by the Technical Education and Scientific Development Authority (Tesda)—was cited as the “Premier Flight Attendant Training Center (National Awards) by the Elite Business and Leadership Awards 2019 for its exemplary training programs and helping develop professionals in other related industries.

“When ICATS started, we only envisioned to set up a flight-attendant school. Over the years, we saw the potential of expanding to the corporate arena,” ICATS Founder/CEO Princess Joy Garcia said.

“We want to help not just aspiring flight attendants, but also fresh graduates who do

not know where to start in their chosen fields,” added Arthuro de Leon, ICATS cofounder and Program and Training Head. De Leon is a certified Corporate Image Consultant who trained at the Sterling Style Academy in New York and has conducted personality-development seminars for various top companies like Victory Liner, PNB Savings, Megaworld, Chinabank Savings, Goldilocks and Unipharma.

For 2019, ICATS is launching two new subprograms under its “Corporate Program”—the Corporate Image Enhancement Program, which tackles dressing for success, and cultivating a positive corporate image; and WAVE (Work Attitude Values Enhancement), designed to help a company’s HR team articulate its vision, mission and core values to employees to build a strong organizational culture.

ICATS is also conducting a “Me After College” seminar which seeks to help fresh graduates prepare for their professional life through image-enhancement and job-interview essentials.

“Through our campus program, international students have come to know us and have signed up for training. We also worked with two international schools this year, and other schools will soon follow,” de Leon said. The “Campus Program” has three subprograms: Flight 101 (Introducing the Life of a Flight Attendant), Flight 102 (Improving Personal Skills to Becoming an Airline Professional)and Flight 103 (Transforming Flight Attendant Dreams to Reality).

The “Cabin Crew Program” remains the school’s flagship program with in-depth courses: Direct Flight Program, Red-Eye Flight Program (for working professionals who want to shift to a flight-attendant career) and Connecting Flight Program (for aspirants living outside of Metro Manila).

ICAT’s holistic training approach coupled with a job-assistance program have been vital to the success of its graduates.

“We do not just train flight attendants to make it to the industry. The end goal is to help

these young people excel,” said Naze Mortell, ICATS Trainer for Personality Development, Airbus On-Board Services and Interview Essentials. “We train them not just on academics but more importantly, character-building. We always reiterate that a flight attendant should have certain qualities—someone who does not just work for money but knows what their purpose is for flying, someone who is loyal and will not jump from one airline to another.”

Mortell was a cabin crew at Asiana Airlines and Saudi Arabian Airlines for eight years.

“Being a flight attendant can just be the start to a continuous learning process.

We have students who went on to become pilots for Philippine Airlines, Cebu Pacific and other airlines,” said Cenn Nuyda, ICATS trainer for Flight Emergency Procedures, Aircraft Familiarization and Interview Essentials. Nuyda is currently a senior cabin crew at Royal Air Charter Service Inc. and an in-flight consultant for SEAir International.

Seminar on How to Avoid Election Disqualification with Your SOCE

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HE Comelec perpetually disqualified a total of 105 candidates to hold public office “due to repeated failure to file their Statement of Contributions and Expenditures” in previous elections. This is based on Comelec’s strict implementation of Resolution 9476 and Republic Act 7122—mandating all election candidates and political parties (winning or not) to submit their SOCE within 30 days after election.

To help those running for office avoid disqualification, the Center for Global Best Practice will host a special training entitled “Election Best Practices on How to Prepare Your SOCE” to be held on Thursday, May 30, 2019, at the Edsa Shangri-La Hotel, Mandaluyong City. Non-filing or noncompliance of candidates means that they cannot assume office and can be fined as much as P60,000

and/or the harsher penalty of being meted perpetual disqualification from holding a public office. In this one-day training program, attendees will learn how to carefully prepare the 11 forms required for SOCE. Participants will also be able to determine what are the lawful and unlawful campaign paraphernalia, and the limits of expense, time and space for political ads such as billboards, streamers, movies, documentaries, radio, TV, newspaper and other social media—that are all needed to be reflected in your SOCE. Gain valuable tips, and new insights on how the Comelec counterchecks and catches violators.

This program will feature Judge Ferdinand T. Rafanan, whose remarkable performance in the Judiciary includes resolving over 2,600 cases in less than four years in office when he was regional trial court judge assigned to

Mandaue branch 55, a special court handling election cases. He was recently transferred as RTC judge of Pasig City and San Juan City.

Prior to his appointment to the Judiciary, he was Head of the Comelec Law Department until July 2011. He will share all his knowledge, valuable insights, experiences, and lessons you must learn and actions you must do in preparing your SOCE. He graduated from UP Law in 1983 as an Owen White-Peter Doyle Scholar.

Registration is open to the general public.

CGBP is accredited by the Civil Service Commission. Attendees from the government can earn points for their career advancement and are exempted from the P2,000 limit when attending training conducted by the private sectors based on DBM circular 563 dated April 22, 2016. Interested participants are encouraged to avail themselves of the early

payment and group discount for three or more registrants. Seats are limited and preregistration is required.

For details, check www.cgbp.org. This web site contains CGBP’s complete list of best practices programs including “How to Prepare Unsolicited Proposals for Government Projects,” “What You Must Know About the Procurement Law,” “PPP Certification Course,” “How to Joint Venture Effectively with the Government,” “Certification Course for Chief of Staff of Legislators,” “Certification Course for LGU Administrators,” “Omnibus Rules on Appointment and other Human Resource Actions,” “Rules on Administrative Cases in the Civil Service” and many more! You may also call landlines in Manila (+632)842-7148/59 and (+632)556-8968 or 69; in Baguio (+6374)4232914; and in Cebu (+6332)512-3106 or 07.

Marketing BusinessMirror

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Editor: Efleda P. Campos • Monday, May 20, 2019 E3

How can we come up with inspiring testimonials?

D

By Millie F. Dizon

n Use someone relatable. Patenall says that “ideally you’ll choose to quote people who have a lot in common with your target audience. Those commonalities will make them relatable to whoever is reading or listening, and those readers or listeners will trust the review more than they otherwise might.

Sincerely, Pauline D. Dear Pauline, Testimonials are important marketing tools, and have a way of touching the hearts and minds of the public.

This is because these are often viewed to be authentic and very relatable.

But you are right when you say that this is not an easy task.

In a marketing profs.com article, “Why Testimonials are B2B Companies’ Most Important Marketing Tool,” Ella Patenall says that, “testimonials build trust between the company and its users.”

A good testimonial “outlines key benefits, makes comparisons with other products, and backs up the claims you’ve made about your product or service. That’s why many businesses choose to include a form of testimonial in their marketing. But some are more effective than the others.”

Research backs up the claim that customer testimonials are effective. In a survey, WebDAM found that testimonials beat all other types of content marketing for their effectiveness.

In the report, “some 78 percent of people say that they trust reviews as much as recommendations from acquaintances. And the use of both positive and negative reviews is perceived as more trustworthy than just positive reviews.”

Research also showed that it is im-

YOUNG GUNS 17: THE ONE CLUB FOR CREATIVITY CALLS CREATIVE PROFESSIONALS AGE 30 AND UNDER TO SUBMIT THEIR ENTRIES TO YOUNG GUNS 17

NEW YORK—The One Club for Creativity, the world’s foremost nonprofit organization recognizing creative excellence in advertising and design, has opened the call for entries for Young Guns 17, celebrating international creative professionals age 30 or younger.

Young Guns is the industry’s only global, cross-disciplinary, portfoliobased awards competition that identifies and celebrates today’s vanguard of young creatives.

The renowned competitions regularly attract entries from upward of 70 countries, with more than half of coming from outside the United States. Winners will be selected by a jury made up of past Young Guns winners and other creative leaders, to be announced shortly.

The program is open to creatives age 30 and under who have been working for at least two years, full-time or freelance. Eligible entrants can submit a combination of professional and personal work in graphic design; advertising art direction and copywriting; architectural, environmental and interior design; industrial and product design; digital (UX/UI, experiential design, interactive, Web design, apps, game development): film and animation (motion design, television, video); fashion; typography and lettering; illustration and photography.

The online entry system is open at http://www.youngguns. org. For the early deadline of June 30, 2019, entry fee is $100 for

WWW.FREEPIK.COM

PR Matters

views online. You can take those directly or approach the customers who wrote them for more feedback.

EAR PR Matters, I work in a medium-sized PR agency and one of the new directions we have for this year is to have more testimonial campaigns for our clients.

I have also observed that many other brands are using testimonials in their marketing mix. This is not an easy task and can be quite daunting.

It will be very helpful if you share with us some tips on how we can come up with inspiring testimonials that will enhance the brands we service. Thank you very much.

portant to make testimonials appear as authentic as possible as 30 percent of people suspected some form of censorship. It is also important not to overwhelm your audience, so “picking no more than three to five examples is enough to provide an effective testimony.”

But how do we begin? First, choose the testimonial type that will work best for you. Patenall lists three types, quotes, case studies and videos.

Quotes from customers are the simplest forms of testimonials. In the age of short attention spans,” such quotes should be succinct and snappy to catch attention immediately. The testimonial comments should usually give information on how customers found the process, how effective the service or product was, and whether they would recommend it.”

Patenall adds that if we should choose to use quotes, authenticity is important, and to make them seem as real as they actually are, include the person’s name, company and other information.

Case studies can be particularly

The One Club members, $150 for nonmembers. Entries received from July 1 through the final deadline of July 26, 2019, have a fee of $150 for One Club members and $200 for nonmembers.

This year’s winners will be recognized at the Young Guns 17 celebration and party in New York this November.

Past Young Guns include rising stars who went on to become leaders in their chosen fields, including graphic designers James Victore (YG1), Stefan Sagmeister(YG1) and Jessica Walsh (YG8); advertising creatives Rei Inamoto (YG4) and Menno Kluin (YG6); illustrators Christoph Niemann (YG2) and Deanne Cheuk(YG4); photographers Ryan McGuinness (YG2) and Jeremy Floto/Cassandra Warner (a.k.a. floto+warner, YG5); typographers Alex Trochut (YG6) and Gemma O’Brien (YG13); film and video director Mike Mills, animation artist Todd St. John (YG1) and others.

All Young Guns winners will receive a unique version of the iconic Young Guns Cube, designed exclusively for this year’s incoming class, and have their permanent profile page added to the Young Guns web site. Winners also receive a complimentary one-year One Club for Creativity membership, permanent membership in the Young Guns network, a chance to be featured in Young Guns events and an assortment of careerboosting opportunities from Young Guns sponsors.

“Young Guns has a unique place in the creative world for considering a body of both professional and personal work from an individual, not just a single design or ad,” said Kevin Swanepoel, CEO, The One Club. “Winning is special because we’re celebrating a creative person’s individuality.”

He added that Young Guns plays an important part in the club’s objective of offering recognition and support for creatives throughout every phase of their careers.

“Young Guns plays a key role in our programming because it celebrates and elevates the next generation of creative leaders, and serves as a lifelong network for winners who often reconnect over the years to refer work, collaborate on projects and help advance each other’s careers,” said Swanepoel.

Program branding and design of the Cube award itself is recreated each year by a past Young Gun winner. This year’s YG17 branding and award are designed by Hey Studio, Barcelona, founded by Verònica Fuerte (YG7).

The design concept is based around a spotlight. According to Fuerte, light is the natural agent that stimulates sight and makes things visible. Similarly, Young Guns is a program that sheds light on innovative work and great portfolios from young creatives who will shape the future of creative thinking. The spotlight—in the form of a cube container and cube base—highlights the people and talent behind this year’s Young Guns 17 Cube winners.

Young Guns 17 and other One Club activities are made possible in part through the generous support of sponsors including Levine/Leavitt and Shutterstock.

To enter or see more information, please visit http://www.youngguns.org.

The One Club for Creativity, producer of The One Show, ADC Annual Awards and Creative Week, is the world’s foremost nonprofit organization whose mission is to support and celebrate the success of the global creative community.

The One Show is a top global awards show for advertising, design and digital marketing focusing on creativity of ideas and quality of execution. The global ADC Annual Awards honors creative excellence in craft, design and innovation across all disciplines. Creative Week takes place in New York City every May and is the preeminent festival celebrating the intersection of advertising and the arts.

powerful, as these highlight the results delivered to a particular client.

Patenall says that these real-life stories “should be informative and more in-depth than simple quotes. They could also include infographics or graphs demonstrating results over time, or images and screenshots that detail the process.”

Videos, for most of us, are a more impactful, believable and memorable testimonial method than many others. Here, you can see someone’s body language and better gauge their emotions. Videos are also more memorable and relatable, as most people are visual learners, and so they prefer watching

and listening over reading.

Patenall, however, says that videos work best if you have the budget for it and these are well executed. She also shares with us some tips on how we can come up with inspiring testimonials that work for our brand.

n Conduct surveys. She adds that when you ask a customer for a testimonial, you’re proving that his or her opinion matters to you. That can go a long way in building a lasting relationship. n Check existing reviews. If you have a Trust Pilot, Yotpo or Google accounts, you might already have re-

n Value one’s voice. Ensure that testimonials are direct from your customers or clients than having been prepared for them, which would look awkward. n Use comparisons. Comparisons are powerful in reviews, says Patenall. They give the potential customer a more concrete idea of your services and can help them stand apart.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

Perspective BusinessMirror

E4 Monday, May 20, 2019

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TOMAJESTIC | DREAMSTIME.COM

Facebook’s ‘transparency’ efforts hide key reasons for showing ads

By Oana Goga

Université Grenoble Alpes

F

THE CONVERSATION

ACEBOOK’S advertising platform was not built to help social media users understand who was targeting them with messages, or why. It is an extremely powerful system, which lets advertisers target specific users according to a detailed range of attributes. For example, in 2017, there were 3,100 people in Facebook’s database who lived in Idaho, were in long-distance relationships and were thinking about buying a minivan.

That ability to microtarget specific messages at very particular groups of people can, however, let dishonest advertisers discriminate against minority groups or spread politically divisive misinformation.

Governments and advocates in the US and Europe, as well as elsewhere around the globe, have been pushing Facebook to make the inner workings of its advertising system clearer to the public.

But as Congress continues to review ideas, it’s not yet clear how best to make these systems more transparent. It’s not even obvious what information people most need to know about how they are targeted with ads. I am part of a team of researchers investigating where risks come from in social media advertising platforms, and what transparency practices would reduce them.

Analyzing Facebook ads

IN response to users’ and regulators’ concerns, Facebook recently introduced a “Why am I seeing this ad?” button that is supposed to provide users with an explanation for why they had been targeted with a particular ad.

However, the only people who see Facebook ads are those that Facebook’s algorithms choose, based on advertisers’ chosen criteria. Without help from Facebook, the only way to audit advertisers and the ads they buy is to directly collect from actual users the ads they see in their timelines. To do this, my research group developed a free browser extension called AdAnalyst that users can install to anonymously collect data about the ads they see.

More than 600 people shared their data with us, which allowed us to observe more than 50,000

advertisers and 235,000 ads from March 2017 to August 2018. We learned quite a bit about who advertises on Facebook, how they target their messages and how much information users can get about why they’re actually being shown specific ads.

Who are Facebook’s advertisers?

ANY Facebook user can become an advertiser in a matter of minutes and just five clicks. The company does not seek to verify a person’s identity, nor any involvement of a legitimate, registered business.

Our AdAnalyst data revealed that just 36 percent of advertisers bother to get themselves verified.

There is no way to truly identify the remaining 64 percent, so they can’t really be held accountable for what their ads might say.

We also found that more than 10 percent of advertisers are news organizations, politicians, universities, and legal and financial firms, trying to promote nonmaterial services or spread particular messages. Efforts to determine if any of them are dishonest, spreading disinformation or racially targeting messages is much more difficult than, for instance, figuring out whether someone has falsely advertised a bicycle for sale.

Very specific targeting

WE found that the most-targeted user interests were broad categories like “travel” and “food and drinks.”

But a surprising amount of ads, 39 percent, were more specifically directed using keywords advertisers entered, for which Facebook suggested related interests and categories. For instance, an advertiser could type in “alcoholic” and get suggestions including “alcoholic beverages”—but also people interested in “Alcoholics Anonymous,”

and users whom Facebook’s algorithms had identified as being part of a group called “adult children of alcoholics.”

In addition, we observed that 20 percent of advertisers use potentially invasive or opaque strategies to determine who sees their ads.

For instance, 2 percent of advertisers targeted ads at specific users based on their personally identifying information, like email addresses or phone numbers, which they had collected elsewhere, perhaps from customer loyalty programs or online mailing lists.

Another 2 percent used attributes from third-party data brokers to identify, for instance, “First-time homebuyers” or people who use “primarily cash.” A further 16 percent used a Facebook feature called Lookalike audiences to reach new users Facebook’s algorithms evaluate as being similar to users who had previously interacted with the business.

Malicious groups can—and do—use these features to target Facebook ads in dishonest and manipulative ways. The Russian troll farm called the Internet Research Agency, for instance, managed several Facebook accounts, including two that created ads for directly opposing messages about the Black Lives Matter movement.

Facebook explanations are thin, unclear

FACEBOOK doesn’t claim to give complete explanations to users about why they’re seeing a particular ad. Its messages often say things like “one reason you’re seeing this ad is,” “based on a combination of factors” and “there may be other reasons you’re seeing this ad.”

To find out more details, we used our AdAnalyst tool to col-

lect, from a set of volunteers, not only all the ads they received, but also the explanations Facebook offered for showing them those ads. In addition, we designed controlled ad campaigns specifically targeting our AdAnalyst volunteers, to compare Facebook’s explanations to the actual targeting parameters we chose.

We found that Facebook’s ad explanations are incomplete in potentially worrying ways.

For instance, we bought an ad whose primary targets were specific people, based on a list of emails we had collected from people willing to participate in our experiment. As secondary target criteria, we added “Photography” and “Facebook.”

When users clicked on “Why am I seeing this ad?,” they learned only that they saw it because they are interested in Facebook, a characteristic they share with 1.3 billion other users. There was no mention of anything about their interest in photography, which they share with 659 million others.

They saw no mention at all that we had targeted them specifically using their email address.

Revealing the most common characteristic, rather than the most distinct—and not disclosing that a user was individually targeted—is not a particularly useful explanation. This practice deprives users of the full picture of how they were targeted with an ad message.

Advertisers can hide direct targeting

IN addition, advertisers may be able to hide evidence of controversial or discriminatory ad campaigns, or efforts that target characteristics people consider private, by adding a very prevalent attribute to their

audience-targeting selection. For example, a person who wanted to target an ad at people with income below US$20,000 a year could conceal that intent by adding, as a secondary criterion, that they were “interested in Facebook” or “used a mobile phone”—massive groups that wouldn’t limit the advertising pool, but would more likely be mentioned in Facebook’s attempt to explain why any one person saw that ad.

Our experiments also show that Facebook’s ad explanations sometimes offer reasons that were never specified by the advertiser.

We instructed Facebook to send ads only to a set of people whose emails we had. Despite the fact that we selected no location, all of the corresponding ad explanations contained the following text: “There may be other reasons why you’re seeing this ad, including that [advertiser] wants to reach people ages 18 and older who live [in or near]” and then mentioned a location near that user—though we had specified no locations at all.

If Facebook fills in its explanations with reasons advertisers never chose, its transparency efforts are even more misleading.

To provide users with a more complete picture of who is targeting them and why, AdAnalyst shows aggregate statistics about advertisers targeting them and the characteristics of other users that received the same ads. We hope our tool will help users identify and avoid dishonest advertisers and their messages.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/facebooks-transparency-efforts-hide-key-reasons-for-showingads-115790.