Businessmirror May 24, 2019

‘MOST EXPENSIVE RESORT IN THE WORLD’ UNDER D.I.L.G PROBE, FACES CLOSURE

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

B

A NWA Private Island, touted as the “most expensive resort in the world,” is facing the possibility of closure if found operating without the necessary government permits.

The Department of the Interior and Local Government (DILG) will also be looking into the culpability of local officials in Roxas, Palawan who may have allowed Banwa to open its doors to guests, even without accredi-

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tation from the Department of Tourism (DOT).

DILG Undersecretary for Operations Epimaco V. Densing III told the BusinessMirror he had already instructed his staff to check with the Mayor of Roxas, Palawan why Banwa was issued a business permit to operate without the DOT requirement.

“We will have this investigated and give due notice to explain, to the mayor. If found true, and if the resort has a permit without the required DOT accreditation, we will direct the LGU (local gov-

ernment unit) to suspend the permit to operate,” he said. The current mayor of Roxas, Palawan is Maria Angela V. Sabando. Her husband, Dennis Sabando, is taking over from her after winning in the recent elections.

The DOT earlier confirmed they have not accredited Banwa, although an official said the resort is now working to complete certain documentary requirements. (See, “No DOT accreditation for costliest resort,” in the BusinessMirror, May 21, 2019.)

See “Expensive resort,” A2

BusinessMirror A broader look at today’s business

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Friday, May 24, 2019 Vol. 14 No. 226

Showdown seen over ‘End of Endo’ at bicam L

By Samuel P. Medenilla

@sam_medenilla

ABOR leaders on Thursday said they will be ready to counter possible attempts from government economic managers and business groups to derail the passage of the Security of Tenure (SOT) bill as it goes through the bicameral conference next week.

In a statement, Trade Union Congress of the Philippines (TUCP) Vice President Louie Corral said it is wary of a possible intervention from the Department of Finance (DOF) to derail the SOT. Finance Secretary Carlos G.

Dominguez III had already rejected the House version of the bill before it was passed on third and final reading with an overwhelming vote of support from congressmen in 2017, Corral recalled.

“We still fear that DOF Secre-

tary Dominguez will move to kill the worker’s bill as it goes to the Bicameral Conference Committee next week,” Corral said.

He said similar opposition may also be raised by the Employers Confederation of the Philippines

“We have already taken a crucial step backward from [an] absolute, total ban of ‘Endo’ position to permissive and allowable job contracting because we recognize employers and business flexibility.”— Tanjusay

(Ecop) and the Joint Foreign Chambers of Commerce.

Corral said they are now preparing to quash such attempts with sound data and mass mobilization during the bicameral conference.

“Our research team will be doing quick-response table studies and position papers to counter the false and misleading legal and economic arguments being advanced by DOF, See “Endo,” A9

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KIM REITERATES U.S. WARNING ON HUAWEI

By Recto Mercene @rectomercene

U

NITED States Ambassador to the Philippines Sung Kim said on Thursday it is up to individual countries to choose which technology to use, but made it clear that the US has serious concerns about China’s Huawei and has made an effort to share what it knows to its partners in the region and beyond, including the Philippines.

“As a partner and as an ally we share our concerns with the Philippines and other partners in the region and beyond; that is a very serious concern,” he said at the “Pandesal Forum” in Quezon City.

He said Secretary of State Mike Pompeo and other senior officials in Washington “have made very clear our concern about security [in] sing this Chinese technology.”

He added that he knew of “one senior official in the Philippines” who is currently tasked to help de-

termine “what would be the right decision for the Philippines,” but did not name the official.

The core issue with Huawei stems from its coziness with the Chinese government amid fears that its equipment could be used to spy on other countries and companies.

President Trump effectively banned the US from using Huawei networking equipment and added the company to the US Department of Commerce’s Bureau of Industry and Security Entity List on May 15.

The US had warned other parties that Huawei, which makes 5G technology, could hand over data to the Chinese government and countries risk losing access to intelligence-sharing.

Asked how the US shared the information it had about the Chinese tech giant, Kim said, “my sense is that we have shared our information and concerns very widely and it’s not exactly secret.

See “Huawei,” A2

Misibis’s Co files ₧1.1-B suit vs ‘Bikoy,’ FB, YouTube Inflation for poorest

By Joel R. San Juan

slowest in 13 months

@jrsanjuan1573

B

USINESSMAN Elizaldy Co, who was implicated in the illegal-drug trade by Peter Joemel Advincula in his “Ang Totoong Narcolist” videos, is seeking at least P1.1 billion in damages against the latter as well as social-media giants Facebook and YouTube.

Co is the owner of the upscale Misibis Bay Resort whom Advincula tagged as the leader of the Quadrangle Group, a drug syndicate operating in Bicol. “The truth is finally out. By his own admission, ‘Bikoy’ said everything in the viral video series that implicates me, Misibis Bay Resort and other personalities in the illegaldrug trade are pure fabrication.

While my family and I are happy that this episode is finally over, our fight to clear our tarnished name and reputation continues,” Co said in a statement.

Continued on A9

By Cai U. Ordinario

T

BUSINESSMAN Elizaldy Co submits his sworn statement to the Legazpi City prosecutor’s office on May 14. The man behind the popular Misibis Bay R esort filed two complaints against Peter Joemel Advincula, alias “Bikoy,” and technology giants Fabeook and YouTube. CONTRIBUTED PHOTO

PESO EXCHANGE RATES n US 52.4790

@caiordinario

HE increase in commodity prices experienced by the poorest Filipinos nationwide was the slowest in 13 months, according to data released by the Philippine Statistics Authority (PSA) on Thursday.

Based on PSA data, inflation for the bottom 30 percent of households slowed to 4.3 percent, the slowest since the 3.7 percent posted in December 2017. Inflation for the poorest in the first five months of the year averaged 4.9 percent.

Inflation for the poorest was at 6.3 percent in April 2018. It was also in January 2018 when inflation breached the 4-percent level at 4.7 percent.

“Year-on-year growth of food,

beverages and tobacco [FBT] index eased further to 4.5 percent in April 2019. Likewise, the annual increase in housing and repairs [H&R] index decelerated to 4.2 percent during the month,” PSA said.

However, inflation for the poorest in Metro Manila increased to 2.6 percent in April from 2.3 percent in March. Nonetheless, it was still lower than the 6.3 percent posted in April 2018.

The average inflation for the National Capital Region (NCR) was 3 percent in the January-to-April period.

PSA said the increase was largely due to more expensive FBT prices as well as housing prices.

Data showed FBT grew to 2.5 percent, while H&R increased to 0.9 percent.

See “Inflation,” A9

n JAPAN 0.4756 n UK 66.4542 n HK 6.6855 n CHINA 7.5982 n SINGAPORE 38.0558 n AUSTRALIA 36.1056 n EU 58.5298 n SAUDI ARABIA 13.9948

Source: BSP (23 May 2019 )

News

BusinessMirror

A2 Friday, May 24, 2019

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DFA prods Kuwait on probe of Pinay’s slay T

By Recto Mercene

@rectomercene

HE remains of overseas Filipino worker Ma. Constancia Lago Dayag, who was killed under questionable circumstances in Kuwait, arrived on Thursday afternoon at the bonded warehouse of the Ninoy Aquino International Airport (Naia), with the Department of Foreign Affairs (DFA) vowing to work for justice for her.

“The Department of Foreign Affairs [DFA] has requested for the immediate release of the official forensic report from the Criminal Evidence Department of Kuwait’s Ministry of Interior,” said DFA Spokesman Emmanuel Fernandez.

He added that as of the moment, the death certificate released by the Al-Sabah Hospital indicates that the cause of death is still under investigation.

“Therefore there is nothing to refute. Repeat, nothing to refute.

Repeat, nothing to refute. Once the Kuwaiti report is released, we will double-check it with our own experts,” Fernandez said.

Foreign Affairs Secretary Teodoro L. Locsin Jr., who joined the relatives of Dayag at the bonded warehouse,

earlier said in a Tweet: “She was bludgeoned to death. We are not throwing this mutilated woman under the bus of recruiting agencies that think only of self-profit and never of others’ protection.”

Meanwhile, Fernandez said the DFA and the Philippine Embassy in Kuwait continue to work with the Kuwaiti government for the speedy resolution of the felony murder case earlier filed by the Kuwaiti General Prosecutor’s Office and supported by the embassy. “ The Department has instructed our lawyer to pursue this case to a satisfactory resolution. Our lawyer has made representations with the Kuwaiti General Prosecutor’s Office to stress that the Philippine Government will intervene and provide

RELATIVES of Constancia Dayag break down on seeing the casket bearing her remains—mutilated, according to initial reports—as it arrives at the Naia bonded warehouse on Thursday. NONIE REYES

PALACE REJECTS CANADA’S END-JUNE TRASH SHIPMENT

By Bernadette D. Nicolas

M

@BNicolasBM

ALACAÑANG has rejected Canada’s move to ship back by end of June truckloads of hazardous waste it illegally shipped to the Philippines five years ago, saying the President cannot wait that long as he wants the trash to be sent back immediately.

This, after the Canadian government announced that it has already hired shipping firm Bolloré Logistics Canada to safely bring back the waste to Canada as soon as possible.

However, the timeline given

by Canada to ship the waste back completely by the end of next month did not sit well with the Palace.

“Didn’t they say it will take them [until] end of June? The President will not agree to that.

And I understand from [Finance] Secretary Dominguez that the trash will be shipped back soon,” said Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo in a briefing on Thursday.

Sought for clarification on when they expect the 69 waste containers to be shipped back, Panelo said: “Soonest. We don’t

know what do they specifically mean with ‘soonest.’ It could be this week or a week after. Definitely not end of June. We do not want that. That is too long.”

On Wednesday, President Duterte had again expressed outrage over Canada’s “inordinate delay” in retrieving the waste, prompting him to order concerned agencies to look for a private shipping firm that will ship the waste back.

Malacañang said the Philippine government is even willing to shoulder the expenses.

Last week, the Philippine government recalled its ambassadors and consuls in Canada after Ottawa failed to comply with the May 15 deadline to take back the garbage.

Australian waste

IN a related development, Malacañang said it will ask those responsible for shipping the seven waste containers now on hold in Mindanao Container Terminal in Misamis Oriental to send the waste back to Australia.

Panelo said the Philippine government is taking offense at the move, reiterating that the country should not be treated by other countries as a dump.

“It will be offensive to this

Expensive resort. . .

The resort’s “most expensive” tag came after international publications reported it was charging $100,000 (P5.25 million) a night, with a minimum stay of three nights. This amounts to about to some P15.75 million for a threenight stay, excluding transportation charges. The island can accommodate 48 persons.

The Aquos Foundation, which is headed by veteran Aman Resorts Executive Janet Oquendo, supposedly owns the resort. (See, “Former Aman exec, partners run ‘most expensive resort,’” in the BusinessMirror, May 23, 2019.)

Meanwhile, Densing reminded local government officials to keep to the sustainable tourism goals of the Duterte administration.

“With the midterm elections over, may we remind our local

Continued from A1

chief executives, whether new or reelected, of their responsibility to implement laws that protect the environment and ensure tourism sustainability, especially to those LGUs who house primary tourist destinations,” he stressed.

The DILG, DOT and Department of Environment and Natural Resources (DENR) are currently monitoring several islands, known to be tourist havens, for their possible risks to environmental pollution.

The resort establishments on these islands are also being checked for their adherence to local ordinances and national laws on the issuance of business permits and accreditations.

These islands include El Nido and Coron in Palawan, Panglao in Bohol, and Siargao in Surigao del Norte.

Tourism Secretary Bernadette Romulo Puyat has repeatedly railed

government to be a recipient of trash. We are offended by that.

We will not allow it,” Panelo said.

Reports said the shipment was declared as processed engineered fuel (PEF) and municipal waste which was shipped by cement company Holcim Philippines Inc. Holcim said in the same report that it has long been using PEF as an alternative fuel in making the cement from processed waste.

The broker of the said shipment, the report stated, was the same broker responsible for the 1,000 tons of waste from South Korea from July to October 2018.

The shipment is being tested to determine whether this is PEF or just municipal waste. The result will be used as basis by the Bureau of Customs to know who should be held liable.

Panelo wondered aloud how the shipments were able to enter the Philippines, surmising that these were probably misdeclared.

If proven that these shipments were misdeclared, the Palace spokesman said, those liable should be prosecuted.

The Palace then vowed to apply the same policy of sending the waste back to its origin if other countries are also found to be doing this to the Philippines.

against the mayors of El Nido and Panglao for being stubborn and for their failure to address environmental and easement violations in their municipalities. (See, “El Nido, Panglao LGUs face punitive actions if rehab not implemented—DOT, DILG chiefs,” in the BusinessMirror, February 28, 2019.)

El Nido Mayor Nieves CabunaldaRosento was unseated in the recent elections by Edna Lim, while Panglao Mayor Leonila Montero retained her post. The latter owns Alona Tropical Beach Resort, which the DENR had earlier tagged as one of the violators of the 20+10 meters easement ordinance. Both mayors were given six months to address their environmental issues, which is supposed to end this month. (See, “Swimming ban slapped on 2 Panglao, El Nido sites,” in the BusinessMirror, November 30, 2018.)

To further strengthen national laws such as the Tourism Act of 2009,

evidence as appropriate.”

He said the DFA has endorsed the case to the Philippine National Bureau of Investigation (NBI) which will undertake an independent autopsy and perform toxicology tests on the remains to determine the cause of death of Dayag.

“The Department will also request the permission of the family to bring the remains to the University of the Philippines – Philippine General Hospital [UP-PGH] Forensic Morgue for a similar examination of the human remains of Ms. Dayag.”

Fernandez said the DFA will continue to provide assistance and legal support to the OFW’s family. The department will provide P100,000 in financial assistance to Dayag’s children to defray the cost of her funeral.

Labor Secretary Silvestre Bello III recently said the Department of Labor and Employment may consider reimposing the deployment ban for Filipino workers to Kuwait, which Manila slapped on Kuwait last year at the height of the furor generated by the death of Joanna Demafelis. Her chopped-up body was found in the freezer of her Lebanese employers’ home in Kuwait.

PHL to borrow $4.75B for railway connecting Clark to Metro Manila

By Cai U. Ordinario @caiordinario

T

HE Philippine government will spend at least $89.45-million per kilometer to construct the Malolos-Clark Railway, a rail system that will connect Clark economic zone and Clark International Airport to Metro Manila.

The 53.1-kilometer (km) passenger railway will be financed by loans from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (Jica). The project will be completed in five years but will be partially operational by 2022.

On Thursday, the ADB Board approved a $2.75-billion loan for the project, which will be used for the civil works that will cover six contracts. Jica will also extend a loan of $2 billion for the project.

“It will be ADB’s single largest infrastructure project financing ever, and from a development perspective, we are pleased this investment is taking place in ADB’s host country. The project, combined with other investments in light rail transit, metro rail transit, and subway systems, will bring back the culture of rail transport in Metro Manila,” ADB President Takehiko Nakao said.

ADB Principal Transport Specialist for Southeast Asia Markus Roesner said the national government will be spending for the relocation of families affected by the project and tasks such as shifting of utilities in the affected areas.

The Malolos-Clark railway will dis-

the DILG issued in February a memorandum circular reminding LGUs to grant business operating permits only after primary tourism enterprises such as hotels and resorts secure an accreditation from the DOT. In Banwa’s case, it opened in April, without the proper DOT permit.

The Duterte administration closed Boracay Island for six months last year to give way to government rehabilitation efforts, and instituted strict procedures for its establishments to be allowed to reopen. These included securing an environmental clearance certificate, necessary licenses such as a fire inspection certificate to get a business operating permit, and DOT accreditation.

On Tuesday, the Boracay InterAgency Task Force closed down 11 firms allegedly owned by Chinese and Korean nationals for operating without the necessary business permits and local government requirements.

place around 2,000 families, Transportation Assistant Secretary Goddes Hope Libiran said in a briefing on Thursday.

Libiran said 80 percent of the Right of Way Acquisition (Rowa) has already been completed and the acquisition of the land where 2,000 families currently reside are all that remains to be purchased by the government.

“As regards the affected families, we have on record about 2,000 affected families. But let me also note that the Rowa is already 80-percent clear because we’re using the PNR [Philippine National Railways] right of way,” Libiran said.

The rail system will have seven stations—Calumpit, Apalit, San Fernando, Angeles, Clark, Clark Airport and Blumentritt in Manila. The elevated railway will offer passengers three kinds of trains: a local train which will pass by all stations; an express train which will pass by select stations; and an airport express which is a point-topoint service.

While the system does not promise that passengers will no longer be asked to walk long distances when transferring from one railway to another, Bases Conversion and Development Authority (BCDA) Vivencio B. Dizon said the rail system is designed to provide not only speedy transport but comfortable transfers.

ADB said the Malolos–Clark Railway Project aims to provide safe, reliable and affordable public transport for a total of about 342,000 passengers expected to travel daily along the Manila–Clark corridor and up to 696,000

Huawei. . .

Continued from A1

I think both policy-makers in the government and leaders in the telecom industry are quite aware of the concern that we have.”

“This is just not the concern of the US; many experts have reached the same conclusion.” Huawei is the world’s No. 1 telecom supplier and No. 2 smartphone maker after Korean Samsung. Lately, it has been banned in several countries, including the US. The Chinese telecom giant may have run into its biggest trouble yet in 2019 as the US Justice Department unsealed indictments that included 23 counts pertaining to the alleged theft of intellectual property, obstruction of justice and fraud related to its alleged evasion of US sanctions against Iran.

Over the last few months, scrutiny of Huawei has intensified, with several countries banning the use of its

passengers per day to Calamba by 2025.

It is estimated to cut travel time from Metro Manila to Clark International Airport to less than one hour by rail, compared with two to three hours by car or bus today.

“When you go to Hong Kong, you get off at Central or Kowloon, you gotta walk, right? But it’s been designed so well that it’s not a very inconvenient walk, it’s quite a comfortable walk. So here, what the planners are doing is, we’re modeling after those examples, but you still gotta walk,” Dizon said.

“Walking is good for us. We’re designing it in a way that’s convenient.

Meaning, No. 1, you won’t get wet and I think that is what the DOTr is guaranteeing. It’s going to be a convenient transfer,” he added.

The rail stations will include multimodal facilities, allowing commuters to easily transfer from public buses and jeepneys to the trains. The underground station at the Clark International Airport will provide a short connection to upcoming and future airport terminals.

The project will be built on an elevated alignment, helping reduce the impact on communities, avoid disruption of activities, and mitigate flood risks along the route.

It will use innovative construction methods such as prefabricated viaduct segments, which limits the need for land acquisition and accelerates construction. High-quality construction methods will be used to achieve the maximum rail speed of up to 160 km per hour.

networking equipment. Huawei, for its part, has long denied any wrongdoing and continues to maintain its innocence amid the recent charges.

Trade Secretary Ramon Lopez recently said the Philippines is not concerned about the controversy surrounding the Chinese tech giant’s 5G technology.

“We are not doing anything on that one. We always mention that we are a free, sovereign country, and we will do what we will have to do, especially when it comes to economic development, and promote things and push for inclusive economic growth,” Lopez said when asked about US pressure to ban Huawei 5G network.

“That is the mandate from our President. China is a good partner in many aspects and our No. 1 trading partner,” he said.

Lopez said the Philippines appreciates the developments happening in 5G technology and the inroads Huawei is making in this field.

www.businessmirror.com.ph

The Nation BusinessMirror

Editor: Vittorio V. Vitug • Friday, May 24, 2019 A3

‘Bikoy’ recants claims against Duterte, Go et al; says Trillanes, Otso Diretso behind narco video

By Rene Acosta @reneacostaBM Butch Fernandez @butchfBM & Joel R. San Juan @jrsanjuan1573

P

ETER JOEMEL ADVINCULA, the hooded man who identified himself as the narrator “Bikoy” in the “Ang Totoong Narcolist,” has surfaced and claimed Sen. Antonio Trillanes IV, the Liberal Party and certain senatorial candidates of the “Otso Diretso” were behind his illegal drugs yarn against the relatives and allies of President Duterte.

The narco list video alleged the involvement of presidential son Paolo Duterte, his brother-in-law Manases Carpio, former presidential aide and senatorial winner Christopher “Bong” Go and politicians and businessmen from Bicol in the illegaldrugs trade, with the presidential relatives and Go allegedly receiving monthly payoffs from illegal-drug syndicates.

In a complete turnaround, Advincula said his earlier claims against President Duterte’s relatives and allies were manufactured, and his allegations against Trillanes, the political opposition and the Otso Diretso candidates, except Mar Roxas, were the ones that are “true” as he faced the media at Camp Crame on Thursday morning.

“All the things that happened involving the Ang Totoong Narcolist video episode 1 to video episode 5 were recorded while I am still at the convent. All of those are purely scripted, all of those are purely lies,” he said without reading a prepared statement.

“Lies, because there was a plan by the other side to come up with an issue in order to divert the attention of the people. The ratings of administration candidates kept on ascending while no one among the candidates of the Otso diretso is entering [the

surveys],” Advincula added.

The video narrator, who had previously served time at the National Bilibid Prison in Muntinlupa City for large-scale estafa and still facing similar charges in Bicol and in Baguio City, claimed that aside from increasing the chances of Otso Diretso candidates in the campaign, the video was also made to discredit President Duterte and have him eventually ousted and replaced

by Vice President Maria Leonor G. Robredo.

Accordingly, Robredo would pardon him and even give him a position in the Robredo government.

Advincula surrendered to the Northern Police District on Wednesday afternoon and was promptly turned over to the PNP national headquarters at Camp Crame where he was presented on Thursday morning in a news briefing.

“He heeded…our call for him to surrender. Probably, he felt the pressure of the manhunt operations against him.

His case is bailable so he can always bail out anytime, but probably he sees that it is better for him to surrender,” said PNP chief Director General Oscar D. Albayalde.

Albayalde said Advincula was a subject of an “alias warrant of arrest issued by Judge Leody Opolinto of the Third Branch of Municipal Trial Court in Cities (MTCC) of Baguio City for alleged large-scale illegal recruitment and estafa.

“Advincula is now under our custody after the warrant of arrest was served.

He will undergo booking procedure and debriefing prior to the return of the served warrant of arrest to the court of origin,” he said.

Advincula said he surrendered out of a conscience call, adding it was hard for him to live in lies and having a “director” that will dictate what he would say and do.

Several weeks into the campaign trail, Advincula in the person of a hooded Bikoy, claimed through a video that President Duterte’s family members, Go and a number of politicians and businessmen from Bicol region were involved in the operations of illegal-drugs syndicates in the country, with the relatives and allies receiving huge monthly payoffs.

The hooded man later unmasked himself by coming out as Advincula in a news briefing held at the office of the Integrated Bar of the Philippines weeks before the elections, wherein he stuck to his story about the presidential relatives through a prepared statement that he read.

Advincula said he had been promised P500,000 for the video, but it never came.

Aside from Trillanes, whom he claimed, had directed his actions through “Project Sodoma” and he had met through a certain Fr. Albert Alejo, Advincula alleged that he had also been meeting with the staff of incarcerated Sen. Leila de Lima, Sen. Risa Hontiveros-Baraquel and the candidates of the Otso Diretso, with the meetings being held at two universities.

Sodoma, Advincula said, was a project to work for the downfall of Duterte.

Otso Diretso candidates belied Advincula’s claims, with Magdalo Partylist Rep. Gary Alejano saying over radio station dzMM that they had never met with him and even raised the possibility of filing charges against him.

Present proof

THE Department of Justice challenged Advincula to produce evidence and subject himself to a thorough investigation in connection with his allegations that Trillanes and key personalities in the opposition were behind his Ang Totoong

Narcolist videos.

DOJ Undersecretary Markk Perete said it is about time for Advincula to fully cooperate and substantiate his revelation against the LP and Trillanes.

“The Department of Justice has previously encouraged Mr. Advincula to participate in the investigation of the National Bureau of Investigation on the so-called Bikoy videos. The department then asked him to produce evidence to substantiate the serious allegations in those videos,” Perete said.

“We reiterate that call today in light of his new revelations regarding his transactions with certain personalities in the production and dissemination of those videos, and the equally serious implications of those revelations,” he added.

Perete said a thorough investigation by experts is necessary considering the gravity of Advincula’s allegations.

‘Most absurd’

SENATE Minority Leader Franklin M. Drilon, for his part, debunked allegations linking the opposition LP to the controversial Bikoy video.

“The Liberal Party had nothing to do with the so-called Bikoy video,” said Drilon. “We deny the accusations.”

In a news statement issued on Thursday, Drilon described the allegation as “absurd.”

“That the Liberal Party connived with an obviously professional con artist to topple the government is most absurd,” he added.

The senator stressed “it is ridiculous on so many levels,” adding: “It’s excruciating to have listened to all his lies.”

Drilon prodded the PNP to “get to the bottom of this Bikoy issue and file the appropriate charges.”

Cardema’s desire to be a lawmaker still hangs in the air–Comelec

By Samuel P. Medenilla

T

@sam_medenilla

HE certainty of former National Youth Commission (NYC) Chairman Ronald Cardema’s aspiration to be a lawmaker still hangs in the air.

This after Commission on Elections Commissioner Rowena V. Guanzon clarified on Thursday that the Comelec resolution giving due course to Cardema’s petition for substitution is still pending.

“To my knowledge, the resolution granting due course to Cardema’s application for substitution has not yet been promulgated and released,” Guanzon said.

But even with the absence of the resolution, the poll official already expressed her opposition to the substitution.

Cardema is seeking a seat in Congress as representative of the youth sector party-list Duterte Youth via substitution.

The petition for substitution was filed on May 12 after the original nominees of Duterte Youth, which included Cardema’s wife, Ducielle Marie Suarez, withdrew their acceptance to their nomination.

For the 2019 polls, the deadline for the filing nominee substitution for party-list groups, was on May 13.

“I have not signed a resolution about giving due course to Cardema’s application for substitution. But I will dissent.

He filed it on Sunday, May 12, which is not a regular work day. And [didn’t file on the last day, May 13],” Guanzon said.

Yet, another possible obstacle to Cardema becoming a lawmaker, Guanzon explained, is his age.

Under the law, representative of youth sector party-list group should belong to the 25 to 30 years old age group.

Last Monday, poll watchdog Kontra Daya filed a petition to Comelec to stop Cardema from becoming a nominee of Duterte Youth.

Economy BusinessMirror

A4 Friday, May 24, 2019 • Editor: Vittorio V. Vitug

DTI targets ₧10.5-billion sales from 13th Ifex Asian food expo

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By Elijah Felice E. Rosales

@alyasjah

HE government is eyeing to generate at least P10.5 billion in export and domestic sales in the country’s largest food expo this year that will feature new trends in Asian cuisine.

The Department of Trade and Industry’s Center for International Trade Expositions and Missions (DTI-Citem) set a sales target of P10.5 billion for the 13th edition of Ifex Philippines, where around 657 local and international exhibitors are expected to participate in the food show. The event will begin on Friday until Sunday.

DTI-Citem Executive Director Pauline Suaco-Juan said she is confident this year’s sales will be higher than last year’s due to the “escalating level of interest and enthusiasm” from food buyers and expo visitors.

“Excitement is mounting for the newly rebranded Ifex Phil-

ippines’s ‘NXTFOOD Asia’ with all its fresh show features and special activities for trade buyers and visitors coming from different parts of the globe. We expect this escalating level of interest and enthusiasm will translate to a higher sales turnout for our international and local exhibitors,” Suaco-Juan said in a news statement issued on Wednesday.

Themed “NXTFOOD Asia,” Ifex Philippines this year will put the spotlight on Asian food, latest innovations, trends and best practices in the industry.

It will be participated by Asian food manufacturers, experts, culinary masters, enthusiasts and

657 The number of local and international exhibitors expected to participate in the food show, which will begin on Friday through Sunday

stakeholders in the food industry. There will be 10 food sectors that will be showcased during the three day run, including alcoholic and nonalcoholic beverages; coffee, herbal teas and cocoa; fresh and processed seafood; fruits and vegetables; and grains, cereals and commodities.

The Asian-themed food show will also feature herbs and spices; meat and poultry; natural, healthy and organic products; specialty, ethnic and gourmet products; and food processing

equipment, packaging materials, refrigeration and storage.

According to the DTI-Citem, over 2,000 international and local buyers have already signed up for the event. Further, the top 10 country of origin of international buyers are the United States, United Arab Emirates, China, Japan, Australia, Canada, Singapore, Malaysia, South Korea and Qatar.

“We have strengthened our event marketing and very important buyer program to attract international buyers who include international and local retailers, wholesalers, specialty store owners, importers, buying agents, hotelier or restaurateurs,” Suaco-Juan said.

This year’s P10.5 billion is a jump from the total sales last year of about $256 million generated by 513 international and local exhibitors. Natural and organic products generated the highest sales with $29.9 million, followed by fine food and specialties with $29 million; fresh and processed fruits and vegetables with $22.6 million; grains and cereals with $22.6 million; and beverages with $8.55 million.

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Work-from-home scheme can boost women’s work output, ILO says

By Samuel P. Medenilla @sam_medenilla

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HE International Labor Organization (ILO) said employers implementing flexible work arrangements could potentially boost women participation in the work force.

In its “Women in Business and Management: The business case for change” report, the labor arm of the United Nations (UN) said this in turn will translate to higher productivity and profit for companies.

It said the flexible work arrangements, wherein an employee’s physical presence in the office through new technology, is now readily available.

“Some enterprises are already introducing systems and technology that focus on capturing employee performance or productivity in tandem with flexible work arrangements,” ILO said.

This was proven by the ILO enterprise survey, which covered 12,940 responses from enterprises across 70 counties, including the Philippines.

“Of over 61 percent of enterprises surveyed who offer flexible work and/ or remote or telework, nearly 70 percent report to have experienced increased productivity,” ILO said.

In a previous interview, ILO Women for Science, Technology, Engineering and Mathematics program Linartes M. Villoria said, flexiwork is particularly beneficial for women workers, who

tend to be burdened with child rearing and other household chores.

But despite its obvious benefits, ILO said, very few firms use flexible work arrangement and instead rely on so-called office “face time.”

“Only 5 percent are offering more flexible work arrangements, and just one employer in 50 provides virtual work options to candidates,” ILO said, citing the result of a separate study conducted by multinational staffing firm, ManpowerGroup.

The survey from ManpowerGroup, which was conducted in 2013, covered 6,500 companies.

ILO said increasing the presence of women in the work force would be a game changer for many countries to boost economic growth and even address skill shortage.

“In an era of skill shortages, women represent a formidable talent pool that companies aren’t making enough of.

Smart companies who want to be successful in the global economy should make genuine gender diversity a key ingredient of their business strategy,” ILO Bureau for Employers’ Activities Director Deborah France-Massin said in a news statement.

No less than the Organisation for Economic Co-operation and Development (OECD) said in a 2015 study that a 50-percent reduction in gender gap in labor force of OECD economies will lead to an additional 6-percent GDP gain.

House measure to strengthen ERC endorsed for Senate OK Fears of forthcoming PHL debt

By Jovee Marie N. Dela Cruz @joveemarie

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HE House of Representatives has endorsed for Senate approval a measure strengthening the Energy Regulatory Commission.

Voting 171 affirmative and zero negative, the lower chamber approved on third and final reading House Bill 9053, or the proposed “Energy Regulatory Commission (ERC) Act,” which seeks to strengthen the ERC by expanding and streamlining its bureaucracy, upgrading employee skills, as well as augmenting employees’ benefits.

The measure aims to promote competition in the power and energy sector and provide better protection to its consumers.

It seeks to further strengthen the ERC by reconstituting it into an independent quasi-judicial regulatory body that is exclusively responsible for the regulation of the electric power and energy industry, and granting it limited fiscal autonomy.

The bill seeks to amend some provisions of Republic Act (RA) 9136 or the “Electric Power Industry Reform Act of 2001.”

The commission shall be composed

of a chairman and four members, who shall be all appointed by the incumbent President of the Philippines. The members shall be appointed from a short list provided by the Joint Congressional Power Commission (JCPC).

To boost the existing organizational structure of the ERC, the bill provides for the creation of the following: (a) Office of the General Counsel and Secretariat, (b) Internal Audit Unit, (c) six line services, which include Regulatory Operations Service, Market Operations Service, Consumer Affairs Service, Legal Service, Planning and Public Information Service, and Finance and Administrative Service, as well as (d) four oversight committees to be headed by the ERC members.

The measure also provides for the commission en banc, which shall constitute at least three members. It shall act primarily on the following cases: (a) cases involving ERC’s quasi-legislative power, rules, or regulations, (b) cases involving the National Transmission Corp. (Transco), or its authorized concessionaire, and (c) cases involving contracts worth more than P500 million, among others.

Timely resolution

MEANWHILE, for the protection and

promotion of consumer interests, the bill mandates the ERC to address and provide timely resolutions to consumer complaints, and adopt policies that foster goals such as public access to the ERC, together with its processes, consumer education and efficient utilization of its resources.

As for fiscal autonomy, the ERC shall be allowed to use 30 percent of its revenues in addition to its yearly appropriation authorized in the General Appropriations Act. Of this figure, 10 percent shall be used to augment ERC’s capital outlay (CO) budget, 45 percent to augment its maintenance and other operating expenses (MOOE) budget and 45 percent to augment its personnel service (PS) budget.

The measure mandates the commission to submit and make available to the public all reports pertinent to compliance submissions, certificates, orders or decisions, among others.

It shall then establish the Office of the People’s Counsel, which shall represent and appear for the public before the ERC in every case involving consumer interests.

Also, the measure specifies that the compensation and other fees for the ERC and its personnel shall be

exempted from the coverage of the “Salary Standardization Act.” Moreover, the ERC shall allocate 15 percent of its total annual approved budget for the training and upgrading of the skills of its personnel.

The bill also said that fees needed for seminars, professional membership, registration fees, including those for mandatory continuing professional education, and related expenses of ERC employees holding positions that require professional license shall also be covered by the commission.

Rep. Carlos Roman Uybarreta of 1-CARE party-list, who chaired the technical working group that produced House Bill 9053, said “an upgraded ERC manpower will mean higher capacity to address the huge ERC workload and backlog of cases and pending petitions.”

“Moving forward, Congress wants an ERC that can hear more cases en banc and can tackle with more focus the many highly technical issues of energy regulation. With a revitalized ERC, it will be able to dissect the issues involving power rates, finance, consumer impact, policy and legal intricacies,” said Uybarreta, vice chairman of the House Committee on Energy.

NEA eyes to broaden criteria in EC performance assessment

By Lenie Lectura

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@llectura

HE National Electrification Administration (NEA) has proposed to include the number of electricity supply subscription (ESS) in assessing the performance of an electric cooperative (EC).

The agency said on Thursday that this proposed amendment is meant to improve its existing guidelines in determining the overall operational performance assessment of ECs nationwide.

In particular, NEA Office for Performance Assessment and Special Studies (OPASS) Director Ana Rosa Papa said the agency wants to include the EC energization level among the key parameters in its assessment.

Energization level is measured by the number of consumer connections recorded by an EC based on a given timeline.

At present, the NEA evaluates and determines the overall performance of power-distribution utilities annually using the two criteria: Key Performance Standards (KPS), which account for 80 percent; and EC Classification, 20 percent.

According to the OPASS chief, these criteria are designed to measure an EC’s financial, institutional and technical performance, as well as “to promote accountability and responsibility in their compliances and fiduciary obligations.”

The rural electrification agency has already sought comments from its stakeholders on the proposed changes to EC performance assessment guidelines before submitting it to the

NEA Board of Administrators for approval.

Once approved and published in a newspaper of general circulation, the NEA will implement the revised policy guidelines beginning next year. This will also serve as basis for crafting the performance incentive mechanisms for the ECs. From 1982 to 1993, the state-run agency based the parameters on what was stipulated under Presidential Decree 269, otherwise known as the “National Electrification Administration Decree,” in which power-distribution utilities were categorized into four letter grades—A to D. These categories expanded to six (A+, A, B, C, D and E) from 1994 to 2011 or up until Republic Act (RA) 9136 otherwise known as the “Electric Power Industry Reform Act of 2001” was enacted.

In 2012, the NEA introduced its KPS, which covered financial, institutional, technical and reportorial compliances of the ECs as part of the overall evaluation of their operational performance.

The state-run agency then revised its rules and guidelines from 2013 to 2017 based on the provision of RA 10531 or the NEA Reform Act of 2013, wherein the agency must develop financial and operational parameters to serve as basis for its intervention.

This includes the EC Classification, which covered seven financially driven standards and parameters, including power accounts payable to the National Grid Corp. of the Philippines (NGCP).

The ECs, under the current policy guidelines, are rated from AAA as the highest to D as the lowest.

crisis ‘unfounded,’ DOF assures

By Rea Cu

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@ReaCuBM

HE country’s debt is expected continue its declining trend as recorded debt ratios for the first quarter of 2019 showed corresponding decreases on the back of a more “proactive” debt management of the government under the Duterte administration, the Department of Finance (DOF) said on Thursday.

Based on its economic bulletin, the DOF said that the proactive debt management of the government has enabled it to maintain a continuously decreasing debt level, which, the agency said, led to a more expanded fiscal space. The DOF also assured that fears of a forthcoming debt crisis are “unfounded.”

“Proactive debt management has afforded the Philippines an expanded fiscal space as the level of debt has declined significantly from 87.2 percent of GDP [gross domestic product] in 2006 to 41.8 percent in 2018 [posting] a 45.4-percentage-point decline,” the DOF said.

According to the DOF, the country’s net debt-to-GDP, which is an alternative measure to debt-to-GDP, has posted a decline for the first quarter of 2019 to 39.2 percent from the first quarter level in 2018 of 39.6 percent.

“Net debt or debt net of cash balance is a stronger determinant of emerging country spreads than gross debt based on IMF [International Monetary Fund] Working Paper ‘Does Gross or Net Debt Matter More for Emerging Market Spreads?’, Metodij Hadzi-Vaskov and Luca Antonio Ricci, December 2016,” the DOF added.

The net debt-to-GDP ratio nets out the national government’s cash balance from the country’s debt level.

“Net debt shows a bigger decline from 84.8 percent of GDP [in 2006] to 37 percent [in 2018 posting] a 47.8percentage-point decline,” the DOF said.

In terms of the government’s debt-to-GDP ratio, it increased to 44 percent as of end-March 2019 from 42.6 percent in the same period for 2018, with the Duterte administration earlier pointing out that it expects to borrow more from the domestic market than of foreign ones to minimize foreign-exchange risks.

External debt dropped to 14.7 percent in the first quarter of 2019 from 14.9 percent in the same period for 2018, while domestic debt rose to 29.3 percent from 27.6 percent, respectively.

Meanwhile, net debt-to-revenue ratio dropped to 238.3 percent during the first quarter of 2019 from 249.7 percent in 2018, and net debt-to-expenditure ratio to 203.7 percent from 214.6 percent, respectively.

According to the DOF, the lower ratios imply the higher capability of the Philippine economy to pay off its debts.

Interest payments (IP) as percent of GDP increased slightly to 2.56 percent from 2.48 percent, due to higher interest rates as the United States (US) Federal Reserve System (the Fed) ended its quantitative easing and normalized its monetary policy. This led to global rise in interest rates.

As percent of revenues, IP dropped to 15.67 percent from 15.68 percent, while it rose to 13.85 percent from 12.59 percent as percent of expenditures, in line with the delayed approval of the 2019 General Appropriations Act. Debt service as percent of GDP, expenditures and revenues all rose due to higher interest rates, the DOF pointed out.

Debt service-GDP rose to 5.23 percent from 5.06 percent; debt service-expenditures to 28.30 percent from 25.67 percent; and debt service-revenue to 32.01 percent from 31.98 percent.

Agriculture/Commodities BusinessMirror

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NFA’s purchases of local unhusked rice hit 4M bags

DOF: Farmers to gain from privatizing PCIC

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By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) said the privatization of the Philippine Crop Insurance Corp. (PCIC) could increase the number of farmers that may be covered by microinsurance.

DRIVERS of the National Food Authority (NFA) in South Cotabato help load palay to the NFA truck from a farm in Libungan, North Cotabato, in this file photo of the food agency.

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE National Food Authority’s (NFA) has bought 4 million 50-kilogram bags of unhusked rice in May, or more than a quarter of its procurement target for 2019, bolstering the claim of the agency that farmers find its buying price attractive.

The food agency said its procurement of 201,250 metric tons of palay as of May 20 has already eclipsed the 71,420 bags (3,571 MT) of rice it bought in the first five months of 2018.

The NFA said it has procured 4.025 million bags as of May 20, which already eclipses the 71,420 bags that the food agency bought in the January-to-May period last year.

The food agency’s procurement in the first five months is 27.83 percent of its target of 14.46 million bags, or 723,000 MT, for 2019.

Its new goal is nearly double its original procurement target of 7.78 million bags, or 389,000 MT, for 2019. It is also significantly higher than the 1.24 million bags, or 62,000 MT, purchased by the food agency from farmers last year.

The NFA has been aggressively buying unhusked rice from farmers in recent weeks following the deregulation and liberalization of the country’s trade regime, NFAOIC Administrator Tomas R. Escarez said.

“More farmers are selling to

NFA because we have increased our effective buying price, with the additional P3.00 per kilogram Buffer Stocking Incentive (BSI) starting last October 2018, in addition to the previous P0.20/kg drying, P0.20/kg delivery and P0.30/kg Cooperative Development Incentive Fee,” he said.

“This increased the agency’s maximum buying price for palay from P17.40/kg for individual farmers and P17.70 for members of farmer cooperatives/organizations to P20.40/kg and P20.70 per kg, respectively,” Escarez added.

The NFA’s effective total buying price at present is more than P4 over the prevailing buying price of traders at P18.45/kg, the NFA said, citing Philippine Statistics Authority (PSA) data.

Under the rice trade liberalization law, the NFA would be reduced to a buffer stocking agency mandated to keep a stockpile level of 15 million to 30 million bags, Escarez said.

The NFA said it procured 155,107 bags in January, 123,283 bags in February and was able to hike its purchases at the start of summer crop harvest in May at 994,932 bags. The NFA said it has bought 954,142 bags from May 1 to 20.

Agriculture Secretary Emmanuel F. Piñol told the BusinessMirror that the NFA would adopt a “rolling” buffer stock with an “optimal level” of 15 to 30 days’ worth of consumption and will still be allowed to purchase palay beyond that level.

Finance Undersecretary Gil S. Beltran told reporters that t he gover nment has t he op tion to privatize the PCIC or t r a n s for m t he go ve r n me nt owned and -controlled corporation (GOCC) into an entity that offers reinsurance.

“Do you know how many farmers they cover? It’s not even at 1 million. Right now, they shut out competition. So let the private sector provide the product and let the PCIC play a more active role

Trade war halts M&A chatter in agriculture as valuations falter

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HE agriculture deals buzz has gone quiet. For a while, it looked as if the big trading houses that dominate agriculture were about to see their biggest shakeup in 20 years.

Bunge Ltd. was targeted by rivals Glencore Plc. and Archer-DanielsMidland Co., while Louis Dreyfus Co. also explored potential deals. Meanwhile, mid-sized traders prepared to buy up any spoils that might roll out from any big merger.

Fast forward to today and the chatter of 2017 and 2018, involving deals worth as much as $15 billion each, has all but faded. Uncertainty surrounding the United States-China trade war and the US presidential election have put big deals on hold, according to a dozen interviews with industry executives, bankers and consultants from Geneva to New York and Chicago.

The trade war, in particular, “makes it hard for anyone to make a decision,” said Chris Shaw, an analyst at boutique research and broker firm Monness Crespi Hardt & Co. in New York.

Meanwhile, the industry appears headed into a period of what bankers like to call “self-help.” They’re selling loss-making units, eyeing smaller bolt-on deals and, above all, cleaning up their finances to hunker down during a tough market for wheat, corn and soybeans. Bloomberg News

PHL dairy production up 1.53% in Jan-March

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HE country’s dairy output in first quarter rose by 1.53 percent to 6,150 metric tons (MT) due to the increase in milkproducing herd and high farm-gate prices offered by traders and processors, according to the National Dairy Authority (NDA).

Citing the quarterly report of the Philippine Statistics Authority, the NDA said dairy output in the January-to-March period rose by 100 MT from the 6,050-MT recorded volume in the same period of 2018.

“This was attributed to the increase in the inventory of dairy animals. In addition, more animals in the milkline and better farm-gate price offered by traders and processors pushed up the dairy production,” NDA said in a recent report.

The NDA said about two-thirds of the total milk output, or about 4,290 MT, were assisted or monitored dairy projects by the attached agency of the Department of Agriculture.

At current prices, the value of dairy output in three-month period grew by 10.07 percent year-on-year to P241.32 million, the highest among all livestock subsectors, the NDA noted.

At constant prices, first-quarter dairy production was valued at P84.22 million, 1.53 percent over the P82.94 million recorded in the same three-month period of 2018, it added.

The higher demand from hotel and restaurant industries and other institutions coupled by higher buying prices offered by traders pushed up dairy prices, NDA said.

The average farm-gate price of dairy in the reference period rose by 8.41 percent to P39.26 per liter, from the P36.21 per-liter average quotation recorded in the first quarter of 2018, it added. The country’ total dairy output in 2018 went up by 4 percent to 23,690 MT, from 22,760 MT on the back of higher demand and bigger milk-producing herd.

Editor: Jennifer A. Ng • Friday, May 24, 2019 A5

Total dairy animal herd last year reached 60,382 heads, with dairy cattle accounting for the bulk at 25,481 heads.

Despite the increase, local output only accounted for 1 out of 4 glasses of the country’s liquid milk supply.

Imported milk and dairy products fills up a chunk of the country’s total requirements.

The country’s milk import bill in 2018 rose by 9.4 percent to an all-time high of nearly $1 billion as traders were encouraged to buy dairy products from abroad due to low prices.

Total value of imported dairy products last year reached $987.88 million, $84.78 million over the $807.72 million recorded in 2017, NDA data showed.

Also, the total volume of milk imports in 2018 surged to a record 2.939 MMT, 18.23 percent higher than the 2.486 MMT in 2017, NDA data showed. Jasper Emmanuel Y. Arcalas

as a reinsurer to diversify the risk because microinsurance providers are limited to certain areas,” Beltran said.

The DOF’s chief economist also said the PCIC will play a more active role in terms of providing insurance coverage for local farmers if it becomes a reinsurer.

“We have that option [to privatize it], like the Credit Information Corp. There’s a provision there for privatization. We can have that as an option, but it depends upon

the congressmen who will file the bill,” he added.

A ccord i ng to Belt ra n, t he plan to transform the PCIC into a reinsurer is contained in a bill that is currently pending at the Senate.

“There’s a plan to transform this PCIC into a reinsurer instead of competing with the private sector as an insurer. So once this takes effect then private provision of farmers insurance will become more competitive,” he said.

“It depends upon Sen. [Cynthia A.] Villar filing her bill, it’s pending at the Senate, I think they passed it at the Lower House, they can still do it during the three weeks.

She might have it approved,” Beltran added.

On Januar y 30, 2018, the House of Representatives approved on third and final reading a measure strengthening the PCIC by expanding its coverage and a l low ing it to engage in index-based insurance and reinsurance.

T he lower chamber passed House Bill (HB) 6923, or “An Act Strengthening the PCIC,”

r e p e a l i n g P r e s i d e nt i a l D e cree 1467, which created the GOCC under the Department of Agriculture (DA).

Rep. Arthur C. Yap of the Third District of Bohol, the chairman of the House Committee on Economic Affairs and principal author of the bill, said the measure seeks to overhaul the crop-insurance system by allowing it to provide index-based direct insurance and reinsurance policies.

The DOF is keen on hiking the number of Filipinos covered by microinsurance to 50 million by 2022. Beltran made this statement during the forging of a National Task Force (NTF) under the Climate Risk Insurance (CRI) Program.

Policyholders of microinsurance reached 38.9 million last year. The CRI program is targeting to cover more farmers.

Aside from offering microinsurance to farmers, the NTF will widen the distribution channels for the sale of microinsurance products and put more effort in communication campaigns for insurance, to be able to meet the 50-million target.

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Friday, May 24, 2019

The World BusinessMirror

Editor: Angel R. Calso

China has more weapons in US tariff war–but do they work?

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EIJING—Looking for ways to hit back at Washington as a tariff fight escalates, President Xi Jinping and his economy czar visited a Chinese factory that processes rare earths—exotic minerals used in electric cars, mobile phones and other technology.

Rare earths are “an important strategic resource,” the official Xinhua News Agency cited Xi as saying.

The message was clear: China’s role as the main global supplier of rare earths used in smartphones, lightweight magnets, batteries and other components is leverage over Washington. And China’s sway could extend much further into the US technology sector, particularly to Apple and other companies that rely on Chinese manufacturing.

Until now, Beijing has tried to look restrained in its fight with President Donald J. Trump over technology and trade. It has responded to US tariff hikes by imposing penalties, but usually on a smaller number of American imports.

As the two sides dig in for what may be a long fight, Xi’s visit suggested his govern-

ment is looking for new ways to pressure Washington to settle. Investors are already fretting that Beijing will eventually try to limit, or even choke off, Apple’s iPhone production and sales in China. That threat has triggered an $80 billion loss in shareholder wealth so far this month.

“There is rampant fear that Apple has a target on its back, and China is getting ready to fire,” Wedbush Securities analyst Daniel Ives said.

While Beijing has an array of options for disrupting trade, they carry economic and political costs. And there is no guarantee they will work.

China’s first retaliatory tariffs aimed to undermine Trump politically by targeting farm states that backed him in the 2016 election. Undeterred, Trump hiked duties on more Chinese imports. Then Beijing hit manufacturers, who lashed out. He pressed ahead.

If they want results, Chinese leaders might need to hit him where it hurts, by depressing US stock prices, said Derek Scissors, a China specialist at the American Enterprise Institute in Washington.

It isn’t clear how that can be done, Scissors said in an e-mail, “but the president is sensitive to extended market weakness.”

Apple’s vulnerability to stock-price declines most likely has not gone unnoticed in Beijing.

The Rare-Earth Weapon

ACCOMPANIED by his top economic adviser and lead trade envoy, Xi visited JL MAG Rare Earth Co. Ltd. in the southern province of Jiangxi on Monday, according to reports that made no mention of the fight with Trump.

Nationalists see China’s position as the biggest miner and processor of rare earths as a potent weapon in disputes with the United States, Japan and other governments.

China has about 30 percent of global deposits but accounts for almost all production. The United States, Australia and some other countries also have rare earths, which include 17 elements such as yttrium and scandium. But their output dwindled in the 1990s, when Beijing flooded global markets with low-cost supplies as it built up an industry to process ores, and make lightweight magnets and other products.

Now producers of electric cars, smartphones, solar power equipment and other technology rely on China for rare-earth components.

In 2010, some people in the rare-earth industry said shipments to Japan were suspended after Tokyo detained a Chinese skipper who rammed Japanese Coast Guard boats in a disputed area of the East China Sea. Beijing denied it was curbing exports in retaliation.

The skipper and his crew were released without charges, and nationalists began to view rare earths as a weapon.

Still, supply disruptions might alienate customers and energize political pressure to expand rare earths production in the United States and other countries.

Poisoning Apple

FEW US companies are more vulnerable to the trade war than Apple, which relies on Chinese factories to assemble the iPhones that generate most of its profits. It has also cultivated a loyal following in the country.

China is now Apple’s third-largest market after the US and Europe, accounting for 20 percent of its sales during its past fiscal year.

Apple CEO Tim Cook has spent much of the past year straddling the diplomatic channels of both the US and China. He has been to China multiple times over the last 18 months and had at least one meeting with Xi in October 2017 that also included Facebook CEO Mark Zuckerberg. He also has met with Trump several times, including at least one

Oil extends losses on rising US inventories and trade tension

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time 13 months ago when trade was a top topic, according to a tweet by the president.

So far, the iPhone has not been hit by tariffs in either the US or China.

“Cook has been a master tactician so far,” Ives said.

But the Trump administration’s decision to bar US technology sales to Huawei, one of China’s leading brands, might finally put Apple in the crosshairs.

In the most extreme scenario, China’s government could orchestrate raids of the factories assembling iPhones and other Apple products, or impose restrictions that throttle the company’s supply chain in the country.

But China could suffer as well. Apple’s Chinese factories employ an estimated 1.4 million workers. In 2017 Apple estimated that its business was responsible for creating and supporting 4.8 million jobs in China, including people who work on apps made for the iPhone and iPad. Any direct assault on Apple would also probably discourage other US companies and investors from putting more money into China, said Michael Hirson, who follows China for the Eurasia Group.

“It doesn’t send a very good message if you go after Apple when its CEO has been an advocate for you,” Hirson said.

The government could also covertly undermine Apple behind the scenes by encouraging consumer boycotts of the iPhone in favor of homegrown phones from Huawei and Xiaomi.

There already have been signs of an Apple backlash in China; a big drop in iPhone sales in China late last year caused Apple to badly miss its financial forecasts for the crucial holiday shopping season.

Analysts have estimated retaliatory action from China could trim Apple’s profit by 10 percent to 20 percent. That would translate into annual earnings decline of $6 billion to $12 billion, based on Apple’s profit of nearly $60 billion last year.

Next Steps

CHINA has billions of dollars of American imports on which it has yet to impose retaliatory tariffs, but going ahead with that would mean raising the cost of microchips and other technology or raw materials needed by industries Beijing is eager to promote.

So far, Beijing has responded to Trump’s tariff hikes on $250 billion of Chinese imports by slapping penalties on $110 billion of American goods. Based on last year’s trade, that leaves about $45 billion. That includes semiconductors and other critical inputs needed by fledgling Chinese tech industries. AP

IL extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch, while the demand outlook remained bleak as there was no let up in US-China tensions.

Futures in New York fell as much as 1 percent after tumbling 2.7 percent on Wednesday, the biggest drop in almost three weeks. American stockpiles rose by 4.7 million barrels to the highest level since mid-2017 last week despite expectations for a drop, while fuel inventories also climbed.

Asian stocks tracked US equities lower after the White House was said to be considering cutting off the flow of vital US technology to five Chinese surveillance companies.

Oil is on course for its first monthly loss this year after a dramatic escalation in the trade dispute between the world’s two biggest economies jeopardized the outlook for global growth. While there’s no shortage of supply risks—including the possibility the Organization of the Petroleum Exporting Countries will extend its output curbs or that rising tension in the Middle East will disrupt energy flows—swelling US stockpiles are mitigating those concerns.

“Both crude and fuel inventories rose, contrary to market expectations, suggesting the economy is getting worse,” said Naohiro Niimura, a partner at Market Risk Advisory in Tokyo. “The American economy may be heading into a cyclical slowdown.”

West Texas Intermediate crude for July delivery fell 53 cents, or 0.9 percent, to $60.89 a barrel on the New York Mercantile Exchange at 7:24 a.m. in London after being down as much as 63 cents earlier. The contract dropped $1.71 to close at $61.42 on Wednesday.

Brent for July settlement declined 62 cents, or 0.9 percent, to $70.37 a barrel on the London-based ICE Futures Europe exchange. The contract lost $1.19 to $70.99 on Wednesday. The global benchmark crude was at a $9.46 premium to WTI. Along with the increase in US crude inventories, Energy Information Administration data released on Wednesday showed gasoline and distillate stockpiles also defied forecasts to rise last week. American crude production climbed by 100,000 barrels a day to 12.2 million barrels a day, near the record high reached last month.

The MSCI Asia Pacific Index of stocks headed for its lowest close in almost four months as relations between Washington and Beijing continued to worsen. China’s flagship People’s Daily published t wo commentaries assailing American moves to curb Chinese companies, a day after President Xi Jinping called on citizens to join a “new Long March,” a phrase used to characterize achieving progress despite hardship. Bloomberg News

Chinese government expert sees trade tensions lasting until 2035 C HINA and the US may be stuck in a cycle of “fighting and talking” until 2035, according to a senior Chinese government researcher, who said relations will get worse before they get better.

For the next few years both sides will test each other’s strategic intentions and be prone to misjudgments, which make trade talks difficult, according to Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges. Zhang previously worked at the National Development and Reform Commission, the country’s top economic planner, and is now on their academic committee.

The most difficult period will be 2021 to 2025 and there could be friction in the areas of economy, trade, technology, and finance, Zhang said at a briefing on Wednesday organized by the government. From 2026 to 2035, China and the US may head toward “rational cooperation” from “irrational confrontation,” according to Zhang.

China uses a series of five-year plans to organize its economic development

and 2035 marks the year Beijing seeks to achieve “socialist modernization,” when China will join the ranks of world’s most innovative countries, according a blueprint laid out by President Xi Jinping in 2017. Prospects for a quick trade deal with the US have dimmed after talks stalled earlier this month and President Donald J. Trump threatens to hobble Chinese technology firms.

The breakdown of the current negotiations was caused by the US demanding that China make sweeping changes immediately on the trade balance, structural reform and legal amendments, Zhang said. That was too much too quickly, he said.

High bar

“NONE of these three topics can be realized in the short term,” said Zhang, adding that the enforcement system required by the US was beyond China’s own capabilities and the demanded legal changes were “too high a technical bar.” It takes time for China to improve its capacities nationwide, he said, citing the vast gap between the country’s metropolises and

landlocked poor regions.

The US put forward a demanding package, told China to do it in one step, and threatened punishment if it didn’t happen, Zhang said. For the Chinese, “this sounds like a return to 1840. Is that fair?” he asked, referring to the treaty the Qing Dynasty was forced to sign after losing the first Opium War. At the same briefing a different academic said the “hostile assumptions” of the US are caused by a “trust deficit” which will worsen bilateral economic relations. “Now we are seeing decoupling happening in technology, education, academia and people-to-people exchanges,” said Li Yong, a senior fellow at the China Association of International Trade.

What the US is doing on China today mirrors what the US did to Japan in 1980s, Li said. The US is creating an “anti-China climate” as they did during the trade talks with Japan in that period to force Japanese concessions, he said.

“Many measures they took then are more or less the same as now,” Li said, citing accusations of currency manipulation as an example. Bloomberg News

The World

BusinessMirror Pentagon seen Indonesia election result set proposing for court challenge after riots troop buildup in Mideast www.businessmirror.com.ph

W

ASHINGTON—The Pentagon on Thursday will present plans to the White House to send up to 10,000 more troops to the Middle East, in a move to beef up defenses against potential Iranian threats, US officials said.

The officials said no final decision has been made yet, and it’s not clear if the White House would approve sending all or just some of the requested forces. Officials said the move is not in response to any new threat from Iran, but is aimed at reinforcing security in the region. They said the troops would be defensive forces, and the discussions include additional Patriot missile batteries, more ships and increased efforts to monitor Iran.

The officials spoke on condition of anonymity because the plans have not been formally announced.

Thursday morning’s meeting comes as tensions with Iran continue to simmer, and it wasn’t clear if a decision would be made during the session. Any move to deploy more forces to the Middle East would signal a shift for President Donald Trump, who has repeatedly emphasized the need to reduce America’s troop presence in the region.

US officials have provided few details about possible Iranian threats, but indicated they initially involved missiles loaded onto small Iranian boats. This week officials said the missiles have been taken off the boats near Iran’s shore, but other maritime threats continue.

Sending more troops could also raise questions on Capitol Hill. During backto-back closed briefings for the House and Senate on Tuesday, defense leaders told congressional officials the US doesn’t want to go to war with Iran and wants to de-escalate the situation.

Acting Defense Secretary Patrick Shanahan and Secretary of State Mike Pompeo told lawmakers the US is seeking to deter, not provoke, Iran, even while accusing Tehran of threatening US interests in the Mideast. Shanahan told reporters, “Our biggest focus at this point is to prevent Iranian miscalculation.”

Many in Congress are skeptical of the administration’s approach to Iran, questioning whether it is responding to significant new Iranian threats or escalating a situation that could lead to war.

CNN first reported that the Pentagon will brief the White House on a plan that could send thousands of additional US troops to the Middle East.

Air Force Col. Patrick Ryder, spokesman for the Joint Chiefs of Staff, declined to comment, saying, “As a matter of longstanding policy, we are not going to discuss or speculate on potential or alleged future operations or plans.”

In early May, the US accelerated the deployment of an aircraft carrier strike group to the Mideast and sent four B-52 bomber aircraft to the region.

The Pentagon also decided to move a Patriot air-defense missile battery to an undisclosed country in the area.

The Trump administration has evacuated nonessential personnel from Iraq, amid unspecified threats the administration said are linked to Iranian-backed militias in the country.

On Sunday, a rocket was fired into Baghdad’s heavily fortified Green Zone, landing less than a mile from the sprawling US Embassy. There were no injuries and no group claimed responsibility, but the rocket was believed to have been fired from east Baghdad—which is home to Iran-backed Shiite militias.

Some Democrats say Trump is responsible for drawing Iran’s ire. Last year he abruptly pulled the US out of the Iran nuclear deal, negotiated during the Obama administration to prevent Iran from nuclear weapons production, without crafting a coherent strategy for how to combat other Iranian behavior like supporting extremist organizations. He also has reimposed punishing sanctions that have crippled Tehran’s economy, and designated Iran’s Revolutionary Guard Corps as a foreign terrorist organization in April. AP

I

NDONESIAN presidential candidate Prabowo Subianto is set to lodge a legal challenge against his loss to incumbent Joko Widodo after the worst political violence to rock Jakarta in two decades left six protesters dead and hundreds injured.

Prabowo, as Subianto is commonly known, appealed to his supporters on Wednesday night to halt protests as he was seeking legal remedy against the official result confirming Widodo’s win in the April 17 election. The former general was set to file an appeal with the Constitutional Court on Thursday, according to his Spokesman Dahnil Anzar Simanjuntak. Prabowo unsuccessfully challenged his loss to Widodo in 2014.

Calm returned to streets of Indonesia’s capital on Thursday after protesters clashed with police for two days in a row, in the worst violence to grip the city since the downfall of the dictator Suharto in 1998. At least six people were killed on the first day of clashes on Tuesday, according to Jakarta Gov. Anies Baswedan. As many as 347 people were injured as of Wednesday evening, Tempo newspaper reported, citing Baswedan.

The protest in front of the nation’s election supervisory agency was initially peaceful on Wednesday, but it erupted into violence after nightfall with Prabowo supporters shooting firecrackers and hurling rocks at police. A total of 257 people have been arrested and knives and Molotov cocktails recovered from the detainees, Argo Yuwono, a spokesman for Jakarta police, told reporters on Wednesday.

Guarding offices WHILE no protests are scheduled for Thursday, about 58,000 security personnel were guarding the city, including the main election offices, presidential palace and the parliament building, National Police Spokesman Dedi Prasetyo said.

T he stocks and cur renc y markets traded nor ma lly even though

Friday, May 24, 2019

A7

several private companies allowed employees to work from home for a second day and some schools and col leges remained closed. W hile t he cou nt r y ’s benc h m a rk stoc k index jumped as much as 1.5 percent, r upiah was on course to snap a four-day losing streak.

The police said many of the socalled provocateurs involved in the violence had come to Jakarta from other provinces. There were rallies elsewhere in Indonesia, including at the election supervisory board’s office in Medan, in North Sumatra, according to Tempo.

Widodo, known as Jokowi, said the situation was under control with the military and police committed to maintaining stability and security.

While calling for peace and unity for a second day, the president said his government will not tolerate any efforts to disrupt the country’s security and democracy. Indonesia’s election commission on Tuesday announced Jokowi had secured 55.5 percent of the national vote.

Social media THE violence prompted the government to order curbs on social-media usage with certain features of Facebook, Instag ram and messag ing systems being disabled to prevent downloading of pictures and videos, according to Communications Minister Rudiantara.

The political unrest may undermine Jokowi ’s efforts to bolster growth and tackle a high currentaccount deficit that’s weighed on the Southeast Asian nation’s currency, stocks and bonds. The president must now deliver on a reform agenda that includes plans for record spending on new infrastructure over the next five years. He’ll also need to attract foreign investment and navigate a worsening global trade environment, which is weighing on growth.

Jokowi, 57, is expected to be sworn in for his second five-year tenure on October 20. Bloomberg News

Supreme leader criticizes Iran’s politicians amid tension with US

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EHRAN, Iran—Iran’s supreme leader publicly chastised the country’s moderate president and foreign minister on Wednesday, saying he disagreed with the implementation of the 2015 nuclear deal they had negotiated with world powers.

The extraordinary comments by Ayatollah Ali Khamenei, the first time he’s criticized both politicians by name, came amid tensions with the United States a year after Washington’s withdrawal from the accord.

Khamenei has final say on all matters of state, and his blaming the deal’s unraveling limits the influence of President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif— relative moderates within Iran’s Shiite theocracy who had struck the deal.

It also shows the growing power of hard-liners.

The White House earlier this month sent an aircraft carrier and B-52 bombers to the region over a still-unexplained threat it perceived from Iran.

Since that development, Iran has announced it will back away from the atomic accord. The United Arab Emirates, meanwhile, alleged that four oil tankers were sabotaged off its coast,

and Iranian-allied rebels in Yemen have launched drone attacks into Saudi Arabia.

Both Washington and Tehran have said they want to ease heightened tensions in the region in recent days. But many fear a miscalculation between the two countries, which have a 40-year history of mistrust, could escalate the situation. On Thursday, US officials say the Pentagon will brief the White House on plans to send up to 10,000 additional troops to the Middle East.

The officials spoke on condition of anonymity as the plans had yet to be formally announced.

Khamenei made the comments before hardline students gathered for a Ramadan lecture. For years, hard-liners have criticized the accord for giving too much away to the West.

Khamenei had given his implicit stamp of approval on the deal, which when signed sparked spontaneous cel-

ebrations across Iran. The accord saw Iran limit its enrichment of uranium in exchange for the lifting of crippling economic sanctions.

But the deal has unraveled after Trump’s withdrawal, with the US reimposing old sanctions and coming up with even stricter new ones.

“To some extent, I did not believe in the way that the nuclear deal was implemented,” Khamenei said, according to his official web site. “Many times I reminded both the president and the foreign minister.”

Khamenei has previously warned the West, especially the US, wasn’t trustworthy. But he hasn’t named the country’s top elected politician and his top diplomat before Wednesday night.

He’s previously said the two had done the best they could.

Even before Trump became president and later withdrew from the deal, there were concerns in Washington that the supreme leader might turn on the agreement if the envisioned sanctions relief fell short of what Tehran expected. For that reason, the Obama administration dispatched senior officials to Europe, Asia and elsewhere to explain to foreign governments and countries what was permitted.

Former Secretary of State John Kerry and Treasury Secretary Jack Lew each encouraged foreign investors to do business with Iran so that the benefits of the deal would be apparent to the Iranian people.

Since Trump’s pullout last year and the reimposition of US sanctions in November, remaining parties to the deal have been unable to keep up the pace of relief and Iran’s economy has been significantly harmed, notably because of the loss of revenue from oil exports and the risk of incurring US penalties that has dissuaded international companies from opening shop in Iran.

The role of the supreme leader within Iranian society, while overseeing its elected representatives, is spiritual rather than political. Khamenei acknowledged that in his speech on Wednesday night, saying the gravity of the situation called on him to speak.

“Our belief is that the leadership should not enter into the executive issues, unless if it affects the entire revolution,” Khamenei said.

There was no immediate comment from either Rouhani, who is serving his second four-year term as president, or Zarif.

Khamenei did not directly address the ongoing tensions, which include a heightened US naval presence in the region. However, during his appearance with the students, one came up to Khamenei with a painting of Revolutionary Guard soldier credited with laying mines targeting US-escorted oil tankers in the Persian Gulf during Iran’s 1980s war with Iraq. The Guard says he was killed in a confrontation with the US Navy.

On Monday, Iran announced it had quadrupled its production capacity of lowenriched uranium. Iranian officials made a point to stress that the uranium would be enriched only to the 3.67-percent limit set under the nuclear deal, making it usable for a power plant but far below what’s needed for an atomic weapon.

But by increasing production, Iran soon will exceed the stockpile limitations set by the nuclear accord. Tehran has set a July 7 deadline for Europe to set new terms for the deal, or it will enrich closer to weapons-grade levels in a Mideast already on edge.

Earlier Wednesday, a prominent reformist lawmaker who chairs parliament’s national security and foreign policy commission stressed that neither Iran nor its proxy allies are seeking armed conflict with the US. “Under no circumstance will we enter a war,” Heshmatollah Falahatpisheh said, according to the semi-official ILNA news agency. “No group can announce that it has entered a proxy war from Iran’s side.”

Meanwhile, Iran’s army chief Gen. Abdolrahim Mousavi alleged without providing evidence that Saudi Arabia and the US were behind the sabotage of the oil tankers off the UAE, as well as a rocket that landed near the US Embassy in Baghdad. The US has blamed Iran for both incidents without publicly offering evidence. America also has evacuated nonessential diplomatic staff from Iraq amid the tensions. AP

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Gordon cites PRC role in rebuilding lives, homes of Marawi siege survivors

T

WO years after the Marawi siege, the early recovery program of the Philippine Red Cross (PRC) has enabled over 6,000 displaced families to build new homes and start income-generating activities.

The P30.1-million project, supported by the International Committee of the Red Cross (ICRC), covered household livelihood and shelter repair assistance for families from the most affected areas.

“When we help, we don’t just give. It is important that we also empower. When we visited the people of Marawi in 2017, we told them ‘Babangon tayo’ and we remained committed to this mission. Two years after the siege, this commitment has show n results,” PRC Chairman Richard Gordon said.

A total of 2,307 returnees to 16 barangays received P10,000 household livelihood assistance from PRC and ICRC. PRC’s Post Distribution Monitoring (PDM) report shows the major it y of the beneficiar ies used the capital for small businesses, such as sari-sari stores, retail shops and eateries. Others ventured into transportation (tricycle, habal-habal), construction and carpentry, fishing, farming, and casual labor.

The PDM report also shows that 98 percent of the household livelihood assistance recipients’ main income source came from the Red Cross.

The Red Cross also distributed shelter tool kits to 3,792 families,

inclusive of 1,385 families from 11 evacuation centers in Lanao del Sur and Lanao del Norte and 2,407 households from three Kambalingan barangays.

The shelter materials were used to repair roofs and walls, as well as to expand their houses for livelihood activities. “We also established our Red Cross 143 prog ram for communit y volunteers to help us respond to disasters and emergencies quickly. This is how we attain resilience,” Gordon added. PRC also continues to provide safe and clean water to communities in evacuation centers. Since 2017, 29,514,700 liters of water have been ser ved in 26 barangays and evacuation centers.

In December 2017, the Provincial Government of Lanao del Sur recognized the Red Cross for being one of the first to provide humanitarian assistance.

When the conflict broke out on May 23, 2017, Gordon mobilized the staff and volunteers from the nearby PRC Chapters and immediately deployed first aid, welfare, relief, and hygiene promotion teams.

PRC, with the support of ICRC, also set up a basic health-care unit to ensure the health of evacuees.

Cyber libel

SPECIFICALLY, Co and the Misibis Bay Resort management sought the criminal indictment of respondents for cyber libel under Section 4 of Republic Act 10175, or the Cybercrime Prevention Act, in relation to libel under Articles 353, 354 and 356 of the Revised Penal Code.

P

RELATIVES and friends of fallen soldiers who saw action during the terrorist siege in Marawi two years ago offer flowers and candles at a wreath-laying ceremony at the Libingan ng mga Bayani led by Commander Joint Task Force Marawi Rolando Bautista and Lt.Gen. Macairog Alberto AFP (both not in photo). NONIE REYES

A PRC volunteer visits a household livelihood beneficiary who used the grant to start a sari-sari store and eatery.

Apart from Advincula, the first charge sheet included as respondent Facebook Philippines, represented by Country Director John Rubio, and other unidentified individuals responsible for the malicious video.

The complaint sought civil damages from the respondents amounting to P150 million in moral damages and P100 million in exemplary damages, as well as payment of 10 percent for attorney’s fees for each of the two respondents, or a total of P550 million.

The second complaint, on the other hand, named Advincula and Google Philippines as owner of YouTube where the videos were uploaded, and other unidentified persons as respondents.

Co and Misibis Resort Management likewise demanded the same amount of damages of P500 million and P50 million in attorney’s fees from the second set of respondents, for a total civil damage claims of at least P1.1 billion.

Reputation damaged

THE complaint stressed that the “false, malicious and libelous

Inflation. . .

Endo. . .

“Food index in NCR posted an annual increase of 2.2 percent during the month. This was higher compared with the 1.6-percent annual rate in March 2019. Inflation of the food index in April 2018 was observed at 5.6 percent,” PSA said.

Meanwhile, inflation for the poorest in Areas Outside NCR (AONCR) slowed to 4.3 percent in April 2019. This was slower than the 4.6 percent posted in March and the 6.3 percent recorded in April 2018.

In the first five months of the year, the poorest households in the AONCR experienced an average inflation rate of 5 percent.

“Slower annual hikes during the month were recorded in the FBT index at 4.4 percent and H&R index at 4.2 percent,” PSA said.

Previously, economists said the poorest Filipinos are very sensitive to food prices. They said this can be explained by the difference in the inflation felt by all households and the inflation experienced by the bottom 30 percent or the poorest Filipinos.

They explained that the weight of the food in the basket of goods used to compute the inflation experienced by the poorest 30 percent is 70 percent. In contrast, it is only 39 percent for all the households.

Continued from A1

Compostela Valley may soon be renamed Davao de Oro

By Bernadette D. Nicolas

Misibis’s Co files ₧1.1-B suit vs ‘Bikoy,’ FB, YouTube Co disclosed that he had filed cyber libel cases against Advincula, Facebook and YouTube last week for allowing Bikoy to use their online platforms to spread false and malicious information.

“Like Bikoy, Facebook and YouTube must be held accountable.

Our legal system shouldn’t allow them to be part of a systematic campaign to destroy people and simply get away with it,” he said.

Co said his lawyers had asked both Facebook and YouTube to take down the video on April 26, but both social-media giants ignored the request and the video has remained online.

This, according to Co, prompted him to implead Facebook and YouTube in the complaint.The two separate complaints were filed before the Legazpi City prosecutor’s office on May 14.

Friday, May 24, 2019 A9

Continued from A1

Ecop and the Joint Foreign Chambers of Commerce,” Corral said.

He said other members of labor coalition Nagkaisa will also continue their lobby during the last phase of the passage of the SOT bill.

This was confirmed by Nagkaisa Spokesman and Partido Manggagawa Chairman Renato Magtubo.

“We will fight it out in the bicam,” Magtubo told the BusinessMirror in an SMS.

No compromise TUCP said they are perplexed by the opposition of business groups on the SOT bill since it will not outlaw the contractual scheme, but only restrict its practice.

This, TUCP Spokesman Alan Tanjusay said, was already a big compromise for labor leaders, who were initially demanding for the outright abolition of contractualization.

“We have already taken a crucial step backward from [an] absolute, total ban of ‘Endo’ position to permissive and allowable job contracting because we recognize employers

Continued from A1

accusations in the video” that went viral on Facebook and YouTube affected not only his good reputation in the business field but also the operations of the popular resort destination in Albay.

Since the controversial videos came out, Co lamented that he and other officers of Misibis have been receiving recalls from their investors, suppliers, creditors and clients asking about the veracity of the accusations made by Advincula.

“Evidently, my good name, business reputation and social standing, as well as the good name, business reputation and goodwill of Misibis Bay Resort, as well as its owner-complainant Misibis Resort and Hotel Management Inc., which were painstakingly built through the years, were gravely tarnished, irreparably tainted/ and or unduly smeared as a result of the publication of the subject video,” the complaint said.

Even some banking and financial institutions, according to Co, have raised questions on his creditworthiness because of Advincula’s false accusations.

and business flexibility,” Tanjusay told the BusinessMirror in an SMS. “We cannot and we will not take more step backward.

We will stand our ground. No more compromise,” he added.

The SOT bill has been dubbed “End of Endo” bill because it was seen as a way of curbing the widespread practice of hiring workers under short-term contracts (hence, Endo for “end of contract”) which expire before they qualify for permanent employment under existing law.

Labor groups are optimistic the SOT bill, which was certified as urgent by President Duterte, will be finally enacted into law after the Senate passed its own version of the legislation on Wednesday.

This has been the farthest the bill has been in being made into a law since it was first proposed two decades ago.

“This is a major victory for workers today...We should maintain the momentum and work double time so that the Bicameral Conference Committee could submit a version of the bill that could be ratified at once by both chambers of Congress,” Nagkaisa Chairman and Federation of Free Workers President Sonny Matula said in a statement.

Based on the estimates of labor groups, around 15 million workers in contractual work arrangements will benefit from the passage of the SOT bill.

@BNicolasBM

RESIDENT Duterte signed a new law renaming Compostela Valley to Davao de Oro. Under Republic Act 11297 signed by the President on April 17, the renaming shall be subjected to ratification in a plebiscite in Compostela Valley.

The Commission on Elections shall also conduct and supervise the plebiscite in compliance with the Local Government Code of 1991.

Five provinces constitute the Davao region namely Compostela Valley, Davao del Norte, Davao Oriental, Davao del Sur and Davao Occidental. The region is also known as the President’s political bailiwick.

On April 10, Sen. Sonny Angara said in a news statement that Davao de Oro is a fitting name for the province, since it is home to the largest gold deposits in the country, with 10 out of its 11 towns having one or more gold mines each.

In Spanish and Italian, Oro means gold.

The law will take effect 15 days after its publication in the Official Gazette or in any newspaper of general circulation.

The law passed by the House of Representatives on May 15 last year and was amended by the the Senate on December 10, 2018. On January 29, amendments were concurred in by House of Representatives.

A10 Friday, May 24, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Democracy in big trouble

T

HE purpose and obligation of the press and news media is to provide factual information, a clean and thoughtful analysis of issues, and to offer a diversity of opinion on those issues. We at the BusinessMirror have done this successfully for more than 10 years.

Some in the press believe that any disagreement with the way they fulfill their obligation is an attack on freedom of the press. This freedom must be guarded and protected at all costs. However, many in the press believe that they are the only bulwark between tyranny and liberty.

That only comes from their arrogance and self-inflated sense of worth.

Press freedom—and by extension freedom of personal speech—is only one part of the institutional structure that provides for a free society. Freedom of access to education, freedom of the labor force to choose which job to work or not, freedom of access to communication and freedom to travel are all equally critical. A functioning participatory democracy requires all of the above and more.

To say that “democracy is dying” because the press is criticized or even bullied is self-serving. Notice that in countries considered “democracies” where there are genuine attacks on the press—Turkey and Iran come quickly to mind—all of those freedoms mentioned above are also curtailed or stopped.

However, participatory democracy may be under attack—or more dramatically, “dying”—far outside any perceived actual attacks on those freedoms.

The foundation of all participatory democracies is free and fair elections, when the will and wishes of the people is displayed. This is best embodied in the Latin phrase “Vox populi, vox Dei”—“The voice of the people is the voice of God.” Unfortunately, there are many who believe that The People are too uneducated, too ignorant and too stupid to be able to make a sound choice when they go cast their ballot. That attitude will kill democracy.

The aftermath of the recent presidential election in Indonesia is a good example.

Every national election is going to have some anomalies whether from error or malicious manipulation. It is critically important that everything possible be done to insure free and fair voting and accurate results. But we seem to be in a period, globally, where the side that loses immediately claims massive fraud that kept it from the winner’s circle.

And it is not limited to nations like the Philippines as multiple political races in the United States were also claimed to have been stolen.

“Angry supporters of unsuccessful Indonesian presidential candidate Prabowo Subianto have resorted to violent protests in the streets of Jakarta. The city’s governor reported six people killed and many more injured.”

According to the Indonesian Election Commission, incumbent President Widodo won the election by a margin of about 10 percent. Prabowo ran against Widodo in 2014 and lost. He lost in 2009 as he ran as vice president with Megawati Sukarnoputri. He claimed fraud in both of those elections and accused the polling surveys as fake.

While election fraud is a reality, democracy cannot survive if losing candidates cannot accept their loss. When a candidate receives 10 percent of the total vote and then claims he was cheated out of office, democracy is in trouble.

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TELLTALES

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MAYORAL candidate in Leyte squeaked past his opponent by just one vote. Graciously, the incumbent mayor who lost by the slimmest of margins accepted defeat. That one vote could be a supporter who watched a movie instead of going to the polls, or a relative who decided to go fishing rather than casting his vote.

This shows that every vote counts, and that a candidate should never take a voter for granted. I recall what Tip O’Neill, the former US Speaker of the House, wrote in his book Speaker of the House, about an elderly neighbor who had known him since birth. W hen he was running for Congress for the first time, he met his neighbor while crossing the street a couple of days before election day.

He asked: “Mrs. Smith, will you vote for me?” The elderly replied, “Thank you for asking me, Tip. I thought I’d just stay home on election day and watch TV.” Surprised, O’Neill said, “But why, Mrs.Smith, will you do that? You watched me grew up and treated me as your own relative. I mowed your lawn, I trimmed your trees, and I ran you errands.” He never forgot her answer, “It’s because

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you have never approached me. Remember this Tip, every voter wants to be asked.”

The 18th Congress will be overwhelmingly pro-administration.

There will hardly be any reason President Duterte’s legislative agenda would undergo rough sailing in both Houses. Even the Senate, which claims to be more independent from the wishes of Malacañang, is expected to be more cooperative. The incumbent senators like Lacson, Gordon, Gatchalian, Sotto and Binay, although they are not affiliated with PDP-Laban, the dominant political party, will likely extend critical collaboration with the ruling party to pursue legislative reforms as in the past where many bills sponsored by the Palace got the support of Congress. The reelected and newly

minted senators whose victory was largely due to PRRD’s endorsement like Bong Go, Bato de la Rosa, Lito Lapid, Tol Tolentino and Ramon Revilla without doubt will toe the line.

However, the new configuration in both Houses may affect the organization and leadership in both the House of Representatives and the Senate. With PGMA’s exit from the scene, the Speakership is open to newcomers, although some prominent names have already been mentioned or floated. Except for Tony Boy Floirendo who lost his post, the other aspirants have won their seats and, unless they have a change of heart, the runners are ready to kick off at the starting line. Of course, the question in everyone’s mind is: “Which one will the fountain of power bless?”

What about in the Senate? Will there be jockeying for new leadership? Will Tito Sen keep his post? I believe that the Senate leadership will not only be based on party alignments but also on the future political plans of “presidentiable” senators. The Senate presidency has been a launching pad for the presidency like Quezon, Roxas and Marcos, although former Senate Presidents Jose Avelino, Jovito Salonga, Juan Ponce Enrile and Manuel Villar were unsuccessful in their respective bids. PGMA is the first woman Speaker of the House, but we have never had a woman Senate President. Maybe it’s high time to have one now.

The true victory of elections Rev. Fr. Antonio Cecilio T. Pascual

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President’s legislative plan in 18th Congress seen sailing smoothly

B

ROTHERS and sisters, has the recent election truly been won?

Different opinions are revolving around the results of the midterm elections, particularly in the senatorial slate. For the supporters of the administration, the entrance of the majority of the President’s allies to the Senate is a great victory. This may ease the advances of the changes promised by the President. For the administration’s critics, the loss of the opposition candidates means the Senate becoming a follower of the Executive branch. If the Senate is not free, no one will question the inhumane, anti-poor, and anti-Filipino rules of the administration.

In the local elections, there are comments regarding political dynasties such as the Binays in Makati, Cayetanos in Taguig, Belmontes in Quezon City and Aguilar-Villars in Las Piñas. However, there are those who were enlightened in the local elections from the cities that did not choose the candidates from political dynasties. There is the loss of the Estradas—from former

President Erap of Manila, as well as his children and grandchildren in San Juan. What surprised most people is the victory by a new politician, Vico Sotto, becoming mayor of Pasig, governed by the Eusebio family since 1992.

Despite the handful of candidates that ran for the Senate, there are those candidates in the local elections that ran without any

opposition. There are over 500 candidates in the country that were unopposed, including 50 congressmen, 200 mayors and 200 vice mayors.

This means that over 500 candidates were able to take their positions even if they were the only ones who cast their vote. In other words, there are places where voters have no other options.

The result of the midterm elections has many implications—like the question of having a free Senate. However, it is the duty of the victors to build institutions and mechanisms promising the people of the use of services of the government. But other than having a better delivery of these public services, the victory of this election will be seen from how well we became as voters, especially we Christians competing in politics with the use of voting.

We are taught by the social teachings of the Church that true democracy is not only caused by abiding laws and regulations. Instead, a result of our acceptance of the priorities of democratic processes— the dignity of everyone, respect to human rights and being honest at

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I ADMIRE Senator-elect General Bato de la Rosa for his candor when he admitted that right now he’s not up to the task to perform his newfound role as a lawmaker. “Is there a seminar or training for lawmaking?” he asked. His honesty and lack of pretensions endeared him to the Filipino voters who overwhelmingly elected him. He also revealed that he’d also get help from Senators Koko Pimentel and JV Ejercito to prepare him for his new post. For starters, this is my unsolicited advice to General Bato who personally helped me enforce the Social Security laws when I headed the SSS. The clause in our Constitution that states, “to promote the general welfare” does not refer to you or the other generals who won in the last elections. Levity aside, you are a fast learner, General, and your sincerity and hard work will make you a great legislator. nnn

THE Great Emancipator, Abraham Lincoln, suffered several electoral defeats before he won the US Presidency in 1860. A friend asked him how he felt after losing an election.

Lincoln replied that he is like a man who stubbed his toe in the dark. “I am too old to cry, but it hurts too much to laugh.” The advantage of losing is that you are free to start campaigning now for the next election.

achieving goals for the greater good.

During the long time of campaigning up to Election Day, we must ask ourselves: Will we further understand the importance of human dignity? Will we greatly know our rights? Have we promoted the greater good through the candidates we campaigned and voted for?

Brothers and sisters, the outcome of the midterm elections has both been stained in shadows and kissed by light, but the greater question is how this reflects with our appreciation and conscience, that the Church reminds us then and now as the basis of how we vote. The triumph of this election is we become better as voters, we learn from our mistakes and use our experiences in participating in politics to take action for a more humane government, and most of all, for us to become good people toward our fellow men and citizens of our country.

Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

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Let’s go back to the economy

Sensing the past

Alvin Ang

Tito Genova Valiente

ANNOTATIONS

EAGLE WATCH

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ITH the elections over and clear mandates settled, governance should go back at looking at the economy.

Last week, the Philippine Statistics Authority (PSA) announced the first quarter gross domestic product results.

The GDP growth was below analysts’ forecasts but was not unexpected. The main reason for the slowdown on top of everyone’s mind is the delay in the approval of the 2019 budget. This, too, was the reason cited by the government. In fact, the economic managers claimed that the first quarter GDP should have grown by a full percentage higher, to 6.6 percent.

Looking at the details of the GDP report, it shows that the budget delay is not the only reason for the growth decline. The growth slowdown looks to be broader than just those directly affected by government spending.

We based this observation by looking at the average first quarter growth in the last eight years. This covers at least two election periods (2013 and 2016) and one of the strongest El Niño weather phenomenon occurring during 2015-2016. This data provides us the potentials of the different GDP components and their seasonality.

First analyzing the production-sectoral contribution, both agriculture and industry reflected slowdowns.

Agriculture is expectedly slower due to the effects of El Niño. Industry, however, was affected by slower manufacturing and construction growth.

Their performance was much lower than their eight-year averages. Both manufacturing and construction account for 25 percent and 6 percent, respectively, of total GDP. Historically, the first quarter performances of these two sectors are as fast as their second quarter growth. The decline in construction is directly linked to the budget delay with public construction contracting by almost 9 percent compared to a year ago. This was the first contraction of public construction since 2014. Turning to manufacturing, food manufacturing which is the biggest manufacturing component actually grew by 11 percent, its fastest since 2012. However, other components reflected slower growth or contraction after posting double-digit growths in 2018, notably those related to exports such as machineries and furniture.

Meanwhile, services led by trade and transport subsectors grew faster as the impact of inflation in 2018 starts to dissipate.

Consistent with the faster growth in services trade is the faster growth of household consumption. This is an indication of income recovery after the period of high inflation last year.

It is also possible that the early period and preparations for the elections also helped in a higher household expenditure. Contrary to what the government was saying about the impact of the delayed budget, government expenditures actually grew faster than its eight-year average. This implies that government was able to carry many of its commitments despite the

budget delays. The impact of the delay is mainly in the public infrastructure but not in overall government activities. This is also corroborated by the stronger growth of public administration services. What may have pulled down overall growth is the slowdown in investments and trade. Investments, which has been growing double digit in the last eight years, has been slowing down since the fourth quarter last year and this is due to the slowdown in durable equipment. Durable equipment growth is seen normalizing either due to most of the needed equipment are already in place or that current equipment capacities require the infrastructure that are yet to be completed. Similarly, the trade slowdown is reflected in both exports and imports reflecting lower single digit growths. For a country like ours, which is strongly connected to the global value chain, the external factor plays a role in how we participate in international trade.

With the uncertainties brought by the trade wars, it is possible that demand for international products are in a wait and see attitude last quarter. With the decision of US and China to escalate the tariffs, it is possible that trade will at best remain at current levels.

The budget was finally passed in the middle of April. Combined with the traditional stronger household and government consumption during elections, it is possible that growth could be faster the second quarter.

However, it is not enough to put the efforts of a faster growth to the government. El Niño and the trade wars are external factors beyond our control, but to generate more jobs and investments is still within the purview of the private sector. A wait and see attitude at this point will only create further slowdown. The results of the elections should already move policymakers to make the economy return to its faster growth path. With an overwhelming majority in both houses of Congress, a lot of uncertainties should now be removed. It is important that the infrastructure program remain on track and a significant portion be completed by 2022. Realistically, GDP growth this year has already slowed and we have adjusted our full year estimates to 5.9 percent from 6.3 percent.

This can still go back to the 6 percent range especially as inflation starts to decline and with it, interest rates. But a lot depends on our confidence in our economy beyond today.

Production-Side 1. Agriculture, Hunting, Forestry and Fishing a. Agriculture and Forestry b. Fishing 2. Industry Sector a. Mining and Quarrying b. Manufacturing c. Construction d. Electricity, Gas and Water Supply 3. Service Sector a. Transport, Storage and Communication b. Trade and Repair fo Motor Vehicles, Motorcycles, Personal and Household Goods c. Financial Intermediation d. Real Estate, Renting and Business Activities e. Public Administration and Defense; Compulsory Social Security f. Other Services Expenditure-Side 1. Household Final Consumption Expenditure 2. Government Final Consumption Expenditure 3. Capital Formation A. Fixed Capital 1. Construction 2. Durable Equipment 4. Exports 5. Imports Gross Domestic Product

Source: PSA, ACERD estimates

AVE IQ GROWTH

Actual

1.53 2.48 -2.76 7.13 6.50 7.45 8.27 4.09 6.35 5.62

0.79 0.66 1.53 4.37 5.25 4.58 3.94 3.14 7.01 8.13

6.10 8.44 6.75

7.38 9.84 4.09

3.84 6.62

9.74 5.68

6.05 5.73 15.70 11.57 8.96 13.98 9.07 12.01 6.09

6.26 7.37 6.78 5.73 5.02 5.65 5.78 8.25 5.57

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HE University of Santo Tomas Museum has had in its custody two extant documents written in Baybayin, a syllabary in use by those who were living in territories that would later be made part of what we know now as the Philippines.

Recognized for its cultural value, the two documents were declared recently as National Cultural Treasure (NCT) by the National Archives of the Philippines.

As shown in photos released, the documents looked very fragile.

Remember these documents show the kind of language—or at least the tools for communication—as it was written when the inhabitants of this land came into contact with the colonizers.

You might ask, how did the Spanish invaders interpret the words?

How did they read the syllables?

With the declaration of the Baybayin documents came the “rectification” of what archivists—some archivists anyway—believe to be a gross mistake of referring to the ancient syllabary as Alibata. No one has dated the use of the term Baybayin as the dominant use of the label. What some archivists say is how Alibata is a recent invention, a name that some historians or putative experts conjured in the 1900s.

The Baybayin documents in the UST Archives, however, has awakened the interests of other experts, and students of histories and cultures. Readers, for example, raised a very interesting issue about the dismissal of Alibata as an inappropriate category. They point to the Arabic alphabet where the first three letters are “Alif,” “Ba” and “Ta.” This makes the “ABC” or, at least, the basic sound of the first syllables as “Ali-ba-ta.” It makes a bit of sense, doesn’t it?

The Baybayin in the UST Archives are not the only documents written in pre-Spanish, pre-Islamic syllabary. There was the Laguna Copperplate Inscription (LCI), found by a fisherman at the mouth of a Laguna River. The said plate had been interpreted by many experts.

Antoon Postma, a Dutch anthropologist, was one of the more prominent experts who had interpreted/read the syllabaries on the plate. The said syllabaries were linked to Java and other culture complexes. The syllabaries are said to be different from Baybayin or any other Tagalog scripts.

Postma happened to be an expert also of the Hanunuo Mangyan who, with the Buhid Mangyan, Tagbanwa and Pal’awan groups retained their old syllabaries. Postma, a former SVD missionary who married into the Hanunuo, worked to revive the ancient scripts.

Were the works of Postma recognized by the government?

Would we declare the works of the Mangyan and Tagbanwa as National Culture Treasure? These ethnic communities write letters and poems using the old syllabary up to now.

The onslaught of development has pushed them to negate their ancient ways, read as “backward” in favor of the new means of communication.

What is it about artefacts that make us forget the present?

With the Laguna Copperplate should be mentioned the Ticao Stone.

Bac k in 2011, two limestones were found at the entrance of a school in Monreal, Ticao Island in Masbate. For many years, these stones were used by children to wipe their shoes of mud before entering the classroom.

Dirtied for a long time, the stones were asked to be cleaned by a new teacher occupy ing the classroom. This teacher

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saw on stones what looked like baybayin.

Dr. Francisco Datar, who was in Capul, Samar, an island between Ticao and Sorsogon, by that time, was summoned by an aunt to check the stone. After a few months, a seminar was organized by UP to examine the stone. There were archaeologists, paleolinguists, historians and physicists. There was excitement in the discovery. The major TV networks covered the event.

I was in Ateneo de Naga then having assumed the Directorship of the Institute of Bikol History and Culture. Contacting Datar, a relative, we began organizing the Second Ticao Stone Conference in Ateneo de Naga.

Back in Monreal, in Ticao, the Ticao Stone had assumed a magical charm all of its own. People flocked to the multipurpose hall where it was housed. At night, there was a report of an old man who, passing by the place where the two stones were enshrined, saw the limestones shining, as if hiding some gems or treasure within.

The frenzy brought about by the two stones encouraged Datar and company to request from the local government that the said artefacts be shipped to the National Museum.

There were talks that the people did not like the idea of the stone being carted away from them.

Days before the conference, there were suggestions that we bring the Stones to Naga. This was nearly impossible until I was informed that a cousin, Dr. Roger Lim, had patiently and obsessively copied the surface of the two stones using a tracing paper.

This dear cousin who was both a doctor of medicine, a cultural worker and an artist, agreed to bring his replica of the stones to Naga. My assistant traveled a day before the conference to fetch my cousin at the pier in Bulan, Sorsogon.

On the day of the conference, the Stones were shrouded in black. I do not remember now whose idea was it to hide them. At the end of the speech of Lim, the black cloth was removed.

As the stones were revealed, someone switched on the lights that I did not know were placed around the platform for the stones. There was a murmur from the audience, an audible gasp.

No one had yet deciphered the syllabaries written on the two stones.

There are interesting explorations around the words that come out of the inscriptions. On the bigger one, the word halad, which means offering, appears. The two irregularly shaped stones have been measured properly, with the trapezoidal one weighing 30 kilos, 11 centimeters thick, 54 cm long and 44 cm wide, and the oblong being 6 cm thick, 20 cm long and 18 cm wide. They are now in the Baybayin Section of the National Museum. Like the LCI, the stones are now called TSI or Ticao Stone Inscription.

I remember still what I said that day in Naga: While you here in Mainland Bicol were writing on barks and leaves of trees, we in Ticao were using stones to carve laws and literatures. Of course, I was being emotional. I was exaggerating, imagining my link to a past and naming it my own.

E-mail: titovaliente@yahoo.com.

With friends like the US, who needs economic foes?

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By Daniel Moss | Bloomberg Opinion

RESIDENT Donald J. Trump’s fusillades against China do more than simply exacerbate the country’s slowdown. They alienate longtime American allies in Asia, too.

The trade war could have been an opportunity to drive a wedge between China and its regional trading partners. If you’re going to pick sides, why not go with the economy that’s accelerating rather than slowing?

Yet, the Trump administration’s irreverence for the collateral damage of its actions might end up drawing China’s neighbors closer into its orbit. With friends like the US, who needs enemies?

Japan and South Korea are getting caught in the crossfire: Both racked up truly dismal numbers this week. Korean exports tumbled 11.7 percent in the first 20 days of May, with semiconductors down by onethird and shipments to China off 16

percent. Tokyo reported that exports dropped 2.4 percent in April, the fifth consecutive retreat and well in excess of forecasts by economists. Goods destined for China slid 6.3 percent.

Semiconductors fell by more than 40 percent.

These statistics follow months of disappointing metrics related to trade and China, specifically. South Korea’s economy shrank last quarter and may well now be in recession; the central bank warned on Wednesday that its currency, the won, has fallen too rapidly. And while Japan’s gross domestic product eked out an unforeseen increase in January to March, any optimism would be misplaced.

The surprise bounce in machinery

orders in March was largely outside key factory areas, says Capital Economics, and capital spending plans look anemic. The picture for either economy is unlikely to significantly improve anytime soon.

It didn’t have to be this bad. Trump recently boasted that China’s economy wouldn’t overtake the US on his watch—and he’s probably right.

Most credible forecasts don’t anticipate the size of China’s GDP passing America’s until around 2030. But that misses the point: The world’s second-biggest economy doesn’t need to speed past the US to make its presence felt on economies everywhere, especially in Asia.

A common argument is that the White House would be much more effective in getting China to change its behavior if it enlisted the support of allies who also oppose Beijing’s trade and industrial practices. But by actively hurting China, Trump is punishing America’s closest friends,

not just merely forgoing a degree of bilateral support. Trump is showing them just how dependent they are on a healthy Chinese economy.

Trump isn’t the only actor in this picture. China’s economy has been steadily slowing for a decade amid efforts to crack down on debt and financial excess. That was always going to translate into a few pinpricks for Japan and Korea. What’s happening now resembles a broken limb.

None of this is going to get Japan or South Korea to flip allegiances tomorrow; there is a lot of historical baggage and security architecture binding them to Washington. But China’s economic footprint in Asia isn’t going to diminish; rather it’s almost certainly going to expand.

Trump’s actions have only reminded Japan and South Korea how much they need China now, even if its economy isn’t bigger than the US’s.

Just imagine how bound they’ll be to Beijing when it is.

JPMorgan: Chinese firms can’t buy ‘trash can’ in US

By Paula Sambo Bloomberg Opinion

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ELATIONS between the US and China have become so strained that the chance of a Chinese firm doing a deal in the US are virtually nil, according to the top tech banker at JPMorgan Chase & Co. “If you’re a Chinese company, there’s no way in hell you’re buying

anything in the US, not even the trash can, for the foreseeable future,” said Madhu Namburi, head of technology investment banking at the New York-based bank.

Private equity funds, meanwhile, are increasingly interested in buying tech start-ups backed by venture capital, Namburi said at the Collision technology conference in Toronto on Wednesday. More than 25,700 attendees from 125

countries have converged in the city for the tech summit.

“They are willing to pay eight, nine times revenues multiples,” he said. “Once these companies hit a certain scale and size, they actually become a good platform for them.”

Another big change in trend is that around 26 percent of tech companies are being bought by non-tech players, he said. All the big companies are becoming

tech-centric.

“FOMO is at an all-time high,” Mike Hollinger, a partner at law firm Dentons Canada LLP, added in the same panel, referring to fear of missing out. “Corporates are more concerned than ever before about what their competition might be doing ahead of an uncertain future.”

VC companies, however, aren’t in any rush to divest, Namburi said.

News

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DA hiring dogs to also sniff plants

By Jasper Emmanuel Y. Arcalas

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@jearcalas

ROM meat to weed. The Department of Agriculture (DA) said it will expand its canine fleet by hiring dogs that would sniff illegal plant products, including fruits and planting materials, being brought through passengers’ luggage in airports.

The measure comes after the meat-sniffing dogs tapped by the DA’s Bureau of Animal Industry (BAI) passed the examinations for detecting processed meat products in luggage after a series of retraining. Agriculture Secretary Emmanuel F. Piñol said three K9 “meat sniffers,” including a giant Schnauzer and two German shepherds, successfully detected four boxes of fresh pork and processed meat products at the Naia Terminal 1 on Wednesday.

Earlier this month, the meat-sniffing dogs failed to detect processed meat products during the first dry run at Naia, where they were to be deployed to prevent the entry of swine fever-contaminated products in the country.

The DA-BAI is set to deploy the initial 15 meat-sniffing dogs this week followed by an additional 30 canines in the next months.

The DA is spending at least P28 million for the 15 meat-sniffing dogs, including the payment for their handlers, for one year.

“The use of the K9s in detecting meat and poultry products brought in by passengers will be institutionalized by the DA and will be implemented in all ports of entry of the country,” he said in a recent Facebook post. “It is specifically aimed at protecting the local hog raisers from the dreaded African Swine Fever (ASF) which has destroyed more than half of China’s hog population,” he added.

The United Nations’ Food and Agriculture Organization and the DA-BAI have identified smuggled meat products, especially by tourists, as high-risk carriers of the dreaded ASF virus that has the potential of wiping out the whole local hog industry. The virus is not harmful to humans.

The Philippine authorities have been on high alert against ASF, which has crossed continents and infected swine in several Southeast Asian countries. It was recently confirmed in Hong Kong.

Plants next

PIÑOL said the DA would institutionalize the deployment of sniffing dogs nationwide to strengthen the country’s biosecurity measures against illegal farm products brought into the country through passengers’ luggage.

Piñol added that he would ask the Bureau of Plant Industry (BPI) to submit its own K9 sniffers program to be implemented at the airports “to check the illegal entry of agricultural products like fruits and planting materials.”

The agriculture chief added that they target to deploy the plantsniffing dogs within the year. The United States is one of the countries relying on the deployment of sniff dogs in airports to block the entry of illegal agricultural products.

In 1984 the USDA’s Animal and Plant Health Inspection Service started its detector dog program called “beagle brigade” to inspect luggage at US airports for smuggled farm goods, which include fruits, vegetables and meat, among others.

In March, the USDA said it deployed an additional 60 beagle teams in key US ports of entries to prevent the entry of ASF virus in the country, according to a Reuters report.

Vehicle importers’ sales up double digits in April

By Elijah Felice E. Rosales

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@alyasjah

EHICLE importers bucked the flat growth trend of local car assemblers, as their total sales in April grew double digits on strong showing from all segments.

In a report on Thursday, the Association of Vehicle Importers and Distributors Inc. (Avid) disclosed that its April sales jumped 12.09 percent to 7,259 units, from 6,476 units during the same month last year. The positive growth was a result of strong performances from the passenger car (PC), light commercial vehicle (LCV) and commercial vehicle (CV) brackets.

PC sales of importers rose 11.61 percent to 2,614 units, from 2,342 units, with industry powerhouses Hyundai Asia Resources Inc., Suzuki Philippines Inc. and Ford Group Philippines Inc. leading the segment.

Further, LCV sales in April improved 12.53 percent to 4,534 units, from 4,029 units during the same month last year. CV sales, on the other hand, saw a slight increase to 111 units, from 105 units.

With the double-digit growth, Avid’s total sales from January to April crossed positive territory at 29,458 units, up 0.15 percent from the 29,411 units sold during the same period last year. The performance of vehicle importers was also way better than the less than 1-percent sales growth posted by local car assembler in April.

Avid President Maria Fe Perez-Agudo said rebound in April is but a signifier of the slow but certain recovery of the automotive industry.

“We are pleased to finally see growth in the first four months, coming from a lackluster first quarter. The strong April performance signifies that demand for automotive vehicles is slowly increasing, eventually leading to what we forecast as a strong industry recovery,” Agudo said in the report.

“Overall, we are optimistic that as macroeconomic fundamentals improve, industry sales will only get better. We are bound to encounter headwinds this year, including shifts in buying patterns and higher interest rates, but we are confident that the industry is geared to tackle such challenges,” she added.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on April 17, 2019, the applicant of NEW ORIENTAL CLUB88 CORPORATION should have been read as Mr. Lin, Yipeng and not as published.

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

ATTY. ANA C. DIONE, CPA

REGIONAL DIRECTOR

Companies BusinessMirror

Editor: Efleda P. Campos

SEC to sue financing, lending companies threatening debtors

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By VG Cabuag

@ villygc

HE Securities and Exchange Commission (SEC) on Thursday said it is taking action to protect borrowers from harassment and unethical practices by financing and lending companies collecting debts.

The SEC said it drafted the circular following numerous complaints against financing and lending companies, and their third-party service providers allegedly harassing borrowers and employing abusive, unethical and unfair means to collect debts.

In a notice, the SEC released a draft memorandum circular on the Prohibition on Unfair Debt Collection Practices of Financing Companies and Lending Companies, for public comment.

In some cases, a collection agent

Epson to cater to B2B market to help sustain growth this year

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ORACAY, Aklan—Epson Philippines Corp. (EPC) plans to cater more to the businessto-business (B2B) market as it seeks to continuously expand by double digits this year.

“We posted a 20-percent year-onyear growth for the past five years.

In fiscal year [FY] 2019, we are looking at making another strong push in terms of our growth,” EPC Senior General Manager and Marketing Director Eduardo Bonoan said during their media event here called the “Fusion X.” To achieve this, the company will be offering more industrial and business products through the so-called Build initiative.

These include big inkjet-based copiers, high-speed printers, large format scanners, labels, CAD machines, textile printers, mobile POS, and high brightness projectors.

“Much of these products are not exactly associated with Epson. So we’re actually going out of our comfort zone to be able to build the next foundation for our business,” he said.

For FY 2018, the company expanded by 23 percent, faster than the 14-percent hike it posted the previous year. While most of their sales last year came from printers and scanners that comprised 70 percent of their revenue, the top executive said they had also “quite a number of good growth in other segments.”

Epson’s business systems contributed about 14 percent to its total sales, followed by visual instruments at 11 percent, and commercial and industrial at 5 percent.

Among the selected strategic products whose very promising performances are seen as key to future growth are large format printers used in commercial and industrial sectors.

These offerings increased by 71 percent from the previous year, of which 116 percent came from the textile printers.

“So we were able to find a sweet spot in the market, and this is the sportswear segment,” Bonoan said of the product portfolio that suits the growing basketball leagues in the country. Roderick L. Abad

would threaten to disclose the borrower’s indebtedness on social media or make it appear that a formal complaint has been filed against the borrower.

“Financing and lending companies have the right to collect amounts due them, but they can exercise such right only through reasonable and legally permissible means,” SEC Chairman Emilio B. Aquino said.

“As the overseer of financing and lending companies, the SEC will take all the necessary steps to tackle abusive, unethical and unfair practices

of collecting debt. In parallel, we will intensify our efforts to promote responsible borrowing,” he said.

Under the draft memorandum circular, unfair collection practices include use of threat or violence and other criminal means to harm the borrower, his reputation, or his property; use of threats to take any action that cannot legally be taken; use of obscenities, insults or profane language; disclosure or publication of the borrower’s name and other personal information; communicating or threatening to communicate to any person loan information, which is known or which should be known to be false, including the failure to communicate that the debt is being disputed, except in certain cases; and making contact at unreasonable/inconvenient times or hours.

The SEC is to require financing and lending companies to ensure their personnel handling the collection of accounts shall disclose their full name or true identity to the borrower.

The draft circular also requires financing and lending companies to keep a borrower’s data confidential, except when the borrower gives a written consent for the disclosure of such information, or upon the order of a court of competent jurisdiction or a government agency or office authorized by law.

While they can outsource the collection of debts, financing and lending companies will maintain the responsibility in complying with the proposed circular.

The provision on the outsourcing of collection should address the practice of financing and lending companies of purposefully engaging a third-party service provider to avoid liability for client harassment, by invoking its separate juridical personality.

The proposed circular provides for penalties ranging from P25,000, in the case of lending companies, and P50,000, for financing companies, to suspension or revocation of certificate of authority to operate as a financing or lending company.

DICT: US trade ban on Huawei to have minimal effect on PHL telcos

By Lorenz S. Marasigan @lorenzmarasigan

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HE Department of Information and Communications Technology (DICT) said the US trade ban that affected Huawei will have “little” effect on the Philippine telecommunications industry, as Filipino telcos are expected to diversify their equipment suppliers moving forward.

In a statement, the agency said the executive order of US President Donald J. Trump that prohibited US companies from engaging in trade with a “foreign adversary,” will have “little impact on the Philippine telecommunications industry,” whose players have been doing business with for over the past decade.

“The local telcos have made pronouncements that they will diversify in their present and future procurements of equipment to make their

networks more robust and future proof,” the statement read.

For their 5G initiatives, both Globe Telecom Inc. and PLDT Inc. have taken Huawei as one of their equipment suppliers. However, both have also tapped other foreign tech companies such as Nokia and Ericsson for the same program.

Despite the trade ban that may potentially cause a huge dent on Huawei’s business, Globe President Ernest L. Cu said his group is still sticking with Huawei as its major provider of equipment, given that a large number of its existing infrastructure has been supplied by Huawei.

“I believe on the network side Huawei is pretty much independent when it comes to cell-site equipment,” he said. “They give us the assurance that it will continue.”

Cu added his group’s plans for 5G development is not affected by the trade ban.

The US government has repeatedly raised security concerns on Chinese telco equipment. But the DICT believes Huawei does not pose a cyber-security threat for the Philippines.

“On matters of cyber security, the incumbent telcos are to this day still strictly monitoring their network and up to now, there was no incident of a national security breach from their respective network predominantly using Huawei equipment,” the agency said.

It added the government “will continue to require local telecommunication companies to monitor their networks through world-class cyber-security audit teams and assure the government their respective network will not be compromised or they may suffer losing their license to operate.”

The same requirement will be imposed on the incoming third telco.

POPEYES LOUISIANA KITCHEN Executives of local restaurant chain gather during the opening of Popeyes Louisiana Kitchen in Arcovia City, Pasig. Present are (from left): Kuya J Group CFO Francis Reyes, Restaurant Brands International (RBI) Asia Pacific Regional President Sami Siddiqui, Kuya J Group Chairman Lowell Yu, Kuya J Group COO Gretz Rivera and Naheem Khan of RBI Asia Pacific. NONOY LACZA

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NGCP installs capacitor banks in substations to help improve voltage regulation in Luzon

By Lenie Lectura @llectura

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HE National Grid Corp. of the Philippines (NGCP) has installed 10 capacitor banks in its substations to improve voltage regulation in Luzon.

The 10 capacitor banks, which have a combined capacit y of 875 MegaVolt Ampere Reactive (MVAR), was energized in six NGCP substations.

Energized on March 22 was a 100MVAR capacitor bank in its San Jose substation.

The following day, a 50-MVAR capacitor bank was energized in NGCP’s Cabanatuan substation.

Another 100-MVAR capacitor bank was installed and energized in NGCP’s San Jose substation on March 30, while a 25-MVAR capacitor bank was commissioned in NGCP’s Tuguegarao substation on the same day.

On April 7, the NGCP energized 100-MVAR capacitor banks in its Mexico and Binan substations, while two more capacitor banks in the Dasmariñas substation were energized on April 8 and April 14.

A 100-MVAR capacitor bank in the Biñan substation and 50-MVAR capacitor bank in Mexico substation were also energized on April 18 and April 30, respectively.

“Through the installation of these capacitor banks, we are able to ensure the quality of power which is transmitted through our lines, especially during the summer season, where the peak period of the Luzon grid for the year is usually recorded,” the NGCP said.

The NGCP is also set to complete the upgrade of two or more capacitor banks in its Mexico and Cabanatuan substations.

“We are committed to keep the transmission network in optimal working capacity, which is why these capacitor banks are important to us.

Once we complete the energization of these projects, voltage conditions will increase, and we will be able to prevent major system disturbances,” the NGCP said.

The NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders Henry Sy Jr. and Robert Coyiuto Jr.

DOE submits report on violations of WMPC, Zamcelco to Malacañang

T

HE Department of Energy (DOE) has submitted a preliminary report to Malacañang on the violations committed by Western Mindanao Power Corp. (WMPC) of the Alcantara-led Alsons Power Group and Crown Investments Hold ings Inc., t he investormanager of the Zamboanga City Electric Cooperative (Zamcelco).

“We have the audit findings.

Pinadala na namain sa Malacañang. This issue has reached Malacañang already and we were asked to submit a report,” DOE Assistant Director Redentor Delola said.

WMPC and Crown Investments signed on May 2 a compromise agreement in a bid to put to an end the rotating brownouts in the city.

Under the compromise, Crow n w ill give a partia l pay ment of P220 mi l lion to WMPC. Upon receipt of the payment, WMPC will run its plant for 60 days. This compromise agreement is without prejudice to the respective claims of both parties before the Energy Regulatory Commission (ERC).

“It’s the ERC that directed them the 60 days. So, the ERC should have come up with a decision in 60 days,” Delola said.

Despite the interim settlement, Delola said the agency was still directed by Malacañang to submit an audit report.

The report covered the initial findings of the DOE. “Zamcelco and Crown have violations on operating gensets bec au se t hose d id not h ave any Certificates of Compliance [COC],” Delola said, adding such move is not considered an emergency case since there is an available power plant which Zamcelco can tap power from.

When WMPC cut Zamcelco’s power supply, the latter installed power generator sets as stopgap measure pending the resolution of their dispute.

“We fast-tracked the operation of the gensets of Zamcelco to address the sudden withdrawal of WMPC power supply last Febru-

ary 4,” said Henry Virola, chief management officer of CrownDesco.

“Zamcelco has a COC to operate 16 MW of gensets since 2018.

We are in the process of expanding this COC to accommodate the additional gensets.”

Delola said WMPC also committed a violation.

“WMPC did not exercise the provision in the contract that if there is a dispute, there is a 60day or 90-day curing period when there is no disconnection. WMPC did not exercise that,” the DOE official said.

The DOE official also noted there had been cases in the past when WMPC continued to supply power to Zamcelco even if its obligations had reached P600 million. “The amount was not material, but there are questions on the WMPC side. That was not the biggest collectible. It reached P600 million before pero there was no disconnection. At that time, there was no Crown yet,” Delola said.

The DOE would need to submit a complete report that will include recommendations.

“We are still awaiting data from Zamcelco. With this information, we can finalize report and can come up with a recommendation of what the National Electrification Administration and everybody involved will do,” the DOE official said.

Zamcelco awarded last year an investor-manager contract (IMC) to Crown Investments and Desco Inc. to take over the former’s operations. The joint venture submitted a bid worth P2.5 billion and formally took over Zamcelco on January 9.

“We’re reviewing the IMC, which is supposed to improve the operations of the distribution utility.

But we found out during the audit, the arrangement was that Crown will take care of generation while Zamcelco will still handle the distribution business.

We will validate, but that’s part of the audit findings.” Lenie Lectura

B2

Companies BusinessMirror

Friday, May 24, 2019

Repackaging world's best products to save ecology

T

HE world’s biggest brands want you to see those everyday household products in a different light.

The shampoo bottle, the deodorant stick, razors and even your toothbrush—they all get thrown away when they’re empty or worn out.

But if they were reusable—or refillable—just imagine how much waste could be avoided.

That’s the goal of “Loop,” a durable packaging initiative run

by New Jersey-based recycling company TerraCycle that debuted at the World Economic Forum earlier this year. This week, Loop began its US trial, allowing consumers to use steel, glass and durable plastic reusable packaging for everyday items.

Kroger Co. and Walgreens, along with such consumer brands as Procter & Gamble, Nestlé, The Clorox Co. and Unilever, are taking part.

The project’s name is a reference to an aspirational economy where nothing is wasted. Loop’s goal is to show how easily consumers can lessen the damage done by throwaway plastic, paper, glass and card-

board. About 80 percent of all plastic ends up in landfills or the ocean, and grocery packaging actually creates more waste than plastic bags and straws.

For the trial, Loop is available online to customers in New York, New Jersey and Pennsylvania. You can order products made by the participating companies that will be delivered to you in special reusable packaging. Under the program, manufacturers have redesigned product containers for some of their most well-known products.

Loop will collect a refundable deposit, sometimes $5 to $10, that customers will get back when they return their containers. UPS will pick up your empties for no additional charge.

TerraCycle invested about $10 million in the project. Procter & Gamble has unveiled its Crest mouthwash in a sleek glass bottle—with a rubber base to prevent

Starbucks to license operations in Thailand as it boosts China focus

S

TARBUCKS Corp. agreed to license its Thailand operations to a partner, in the latest sign that the coffee behemoth is sharpening its focus on its key markets of China and the US. The company entered into an agreement with Coffee Concepts Thailand, a joint venture between Maxim’s Caterers Ltd. and Thai partner F&N Retail Connection Co., to fully license its retail business in Thailand. The deal is expected to close by the end of the month, the Seattle-based company said in a statement, without giving any financial details.

A transaction could value Starbucks’s operations in the country at more than $500 million, according to people with knowledge of the matter, asking not to be identified because the information is private.

The shift comes as Starbucks tries to remove distractions from CEO Kevin Johnson as he focuses

on boosting performance in its two most important markets. Starbucks is betting on a massive expansion in China to drive growth amid concerns it’s already saturated the US. But China presents its own hurdles, with increased competition from local start-ups and an economic slowdown that’s curbed the company’s previous breakneck sales pace.

The company has made similar moves to cede control of its businesses in less important markets.

Starbucks last year agreed to license its operations in France and other European countries, and before that in markets including Taiwan and Hong Kong.

Starbucks opened its first store in Thailand in 1998 and has since grown to 372 locations in the market. The Thailand licensee will “focus on accelerating new store development” in an important market, Starbucks said. Bloomberg News

Asian shares slip as US-China spat takes center stage

S

INGAPORE—Asian markets were broadly lower on Thursday as traders focused on tensions between the US and China, and braced for the impact of their tariff hikes.

The Shanghai Composite index retreated 1.2 percent to 2,858.21, and Hong Kong’s Hang Seng tumbled 1.6 percent to 27,264.42. The Kospi in South Korea was 0.3 percent lower at 2,059.59. Australia’s S&P ASX 200 fell 0.3 percent to 6,491.80.

Japan’s Nikkei 225 index lost 0.6 percent to 21,151.14, after a private survey suggested that manufacturing contracted in May. The Markit/ JMMA flash purchasing managers’ index fell to 49.6 in May from 50.2 in the previous month.

Numbers above 50 on the index show acceleration.

India’s Sensex jumped 1 percent to 39,486.51 and other benchmarks in the country soared.

Prime Minister Narendra Modi and his party captured an early lead as vote counting for the general election began on Thursday. Shares slipped in Taiwan, Singapore and the Philippines

but rallied in Indonesia.

Earlier this month, the US and China concluded their 11th round of trade talks with no agreement.

Further talks have not been arranged.

The US has imposed 25 percent tariffs on $250 billion in Chinese imports and is planning to target another $300 billion. It has also mounted sanctions against Huawei and is threatening to do the same with other Chinese companies. China, meanwhile, has retaliated against $110 billion in US products, and is offering tax cuts to software and chip companies.

“The stalemate between the US and China looks likely to last longer as both sides continued to ratchet up rhetoric,” Zhu Huani of Mizuho Bank said in a commentary.

“Despite potential significant negative spillover effect this might have on US firms, the Trump administration seems determined to curb China’s rise in technology advancement,” she added.

On Wall Street, trade worries and mixed corporate earnings pulled stocks lower. AP

breakage. It also has nonelectric Oral B toothbrushes that have a head that pops off so users can keep the base and replace the brush. But it was the stainless steel ice cream container for Nestlé’s Haagen-Dazs (which isn’t too cold to the touch but keeps ice cream cool longer) that was the crowd favorite at a Manhattan rollout this week.

So why now? With all the rage around e-commerce, sustainable companies are disrupting the supply chain and tapping into “recommerce,” the process of selling previously owned products.

“The climate, especially over the past two years, has changed,” said Anthony Rossi, Loop’s vice president of global business development. “Consumers are demanding it.”

During Loop’s trial, returned containers will go to New Jersey and then Pennsylvania for washing, then back to the companies’ factories for refilling. The yearlong effort will track the initiative’s incidental impacts, such as the carbon footprint from shipping containers back and forth. And while reusable packaging may require more energy and materials when first made, Tom Szaky, chief executive of TerraCycle,

MUTUAL FUNDS

said the carbon cost becomes equal to that of disposable packaging after just two or three uses. His goal, he said, is to produce items that can be reused 100 times.

“Loop is not the silver bullet,” Szaky said, but it may shed light on the actual cost of landfilling single-use plastics.

At the launch event in New York, former New Jersey Gov. Christine Todd Whitman, a Republican who headed the US Environmental Protection Agency, said the program was similar to Energy Star certification for buildings and appliances.

Whitman noted that while Energy Star was slow to catch on, it eventually graduated to mass adoption.

Szaky explained that Loop is all about bringing back the milkman model, where glass bottles of milk were left on your porch and you put the empties there to be picked up. The more people who reuse containers and send them through the system—rather than producing a new container for each item—the better the system will work, he said.

“We want you to see Loop packaging 50 years from now still going around,” Szaky said. Bloomberg News

May 23, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 261.4 -0.15% 0.94% 0.69% 3.64% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6044 5.06% 9.13% 3.21% 11.35% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.066 -2.35% 0.92% -0.26% 4.18% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9347 2.03% N.A. N.A. 4.96% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8672 2.3% N.A. N.A. 5.67% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4198 0.49% 0.62% 0.63% 2.82% MBG EQUITY INVESTMENT FUND, INC. -A 123.33 7.69% N.A. N.A. 5.9% ONE WEALTHY NATION FUND, INC. -A 0.8674 -0.87% -4.13% N.A. 4.2% PAMI EQUITY INDEX FUND, INC. -A 51.6039 2.12% 1.61% N.A. 4.87% PHILAM STRATEGIC GROWTH FUND, INC. -A 537.94 1.45% 0.61% 0.49% 4.51% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3098 3.35% 2.43% 3.17% 4.45% PHILEQUITY FUND, INC. -A 38.4358 3.23% 3.16% 2.61% 4.92% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0341 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2292 2.79% 2.6% 2.77% 5.45% PHILIPPINE STOCK INDEX FUND CORP. -A 872.94 2.84% 2.3% 2.71% 5.36% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9247 5.09% 1.66% N.A. 7.37% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2879 3.57% 2.57% 1.99% 5.64% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0036 2.36% 2.26% N.A. 5.17% UNITED FUND, INC. -A 3.7092 3.64% 4.88% 2.86% 5.95% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 116.8948 3.21% 3.37% 3.79% 5.55% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9589 -12.84% 6.24% -0.11% 3.21% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2613 -2.65% 8.41% N.A. 14.13% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7086 -0.02% -0.96% -1.72% 3.48% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2929 -0.56% 0.63% 0.34% 3.79% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6199 0.48% -0.67% -1.6% 2.99% GREPALIFE BALANCED FUND CORPORATION -A 1.3492 0.16% N.A. N.A. 3.44% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.917 3.03% 1.07% 1.1% 4.01% PAMI HORIZON FUND, INC. -A 3.6668 1.12% -0.26% 0.11% 3.9% PHILAM FUND, INC. -A 16.5482 2.15% -0.08% 0.19% 4.03% SOLIDARITAS FUND, INC. -A 2.1359 2% 1.35% 1.72% 3.07% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8351 3.55% 1.14% 1.19% 5.03% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9952 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9915 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9894 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9801 3.4% 1.33% N.A. 6.34% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03644 5.14% 0.71% 1.48% 3.38% PAMI ASIA BALANCED FUND, INC. -A $0.9509 -9.21% 3.33% -1.22% 1.57% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6617 -0.13% 6.13% 2.59% 10.68% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0849 1.11% 3.75% N.A. 7.42% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 348.74 3.05% 2.03% 2.11% 1.56% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8859 1.73% -0.34% -0.39% 1.44% COCOLIFE FIXED INCOME FUND, INC. -A 3.0329 5.43% 5.26% 5.27% 2.09% EKKLESIA MUTUAL FUND INC. -A 2.1673 2.57% 1.12% 1.65% 1.73% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2672 2.3% 0.54% 0.95% 2.62% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6046 1.81% -0.78% -0.01% 2.57% PHILAM BOND FUND, INC. -A 4.0667 2.96% -0.45% 0.55% 3.75% PHILEQUITY PESO BOND FUND, INC. -A 3.6269 3.89% 1.11% 0.97% 3.12% SOLDIVO BOND FUND, INC. -A 0.9219 1.84% -0.74% N.A. 3.28% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9014 5.86% 1.44% 1.64% 4.9% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6081 5.5% 0.86% 1.18% 4.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $455.58 3.24% 1.83% 2.73% 1.63% ALFM EURO BOND FUND, INC. -A Є216.06 1.59% 1.46% 1.47% 1.6% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1712 5.4% 1.7% 2.09% 4.03% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0253 2.43% 0.8% N.A. 2.02% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7136 1.42% -1.3% 0.66% 1.38% 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 $1.0678 3.85% -0.44% -2.24% 2.91% PHILAM DOLLAR BOND FUND, INC. -A $2.2796 6.86% 0.74% 2.64% 4.99% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0585314 3.43% 1.33% 1.71% 2.72% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9914 3.96% 0.03% 1.99% 4.15% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.98 3.55% 2.31% 1.85% 1.77% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0117 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2023 3.07% 1.37% 0.87% 1.73% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.239 3.5% 2.56% 1.94% 1.64% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0257 2.1% N.A. N.A. 0.96%

* - 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

PSE STOCK QUOTATIONS

May 23, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE

58.6 132.9 81 26.5 6.74 11.58 72 13.2 58.1 57.4 110.6 27 171.7 59.2 1.18 2.16 18.8 0.53 4.4 1.39 0.46 740 1.01 183 1.12

58.9 134.5 81.05 26.6 8.49 11.64 72.2 13.4 58.15 57.75 115 27.1 172 59.4 1.25 2.21 18.82 0.59 4.57 1.51 0.475 780 1.02 185.5 1.23

58.5 134.1 81 26.65 6.74 11.86 74.3 13.2 57.5 57.75 110.5 26.5 174.5 61.5 1.18 2.16 18.8 0.52 4.59 1.35 0.46 740 1.06 185 1.23

58.9 134.5 81.85 26.65 8.49 11.86 74.3 13.2 58.35 57.8 110.5 27 175 61.5 1.25 2.25 18.8 0.52 4.59 1.65 0.475 740 1.08 185.5 1.23

58.5 132.7 81 26.4 6.74 11.58 72 13.2 56.6 57.75 110.5 26.5 171.4 58.8 1.18 2.16 18.8 0.52 4.4 1.35 0.455 740 1.01 185 1.23

58.9 134.5 81.05 26.5 8.49 11.58 72 13.2 58.1 57.75 110.5 27 172 59.4 1.25 2.25 18.8 0.52 4.57 1.51 0.475 740 1.01 185.5 1.23

13540 981350 1897710 16300 400 232200 1843930 6000 238310 1330 150 76800 214590 12080 21000 5000 100000 18000 47000 675000 150000 10 1234000 2980 1000

797072.5 131356167 154152389.5 432340 3046 2708694 133950227.5 79200 13769249.5 76808.5 16575 2072155 37006597 719660 24850 10980 1880000 9360 207460 1016420 69150 7400 1286480 552645 1230

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 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 ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.37 36.35 0.285 21.3 76.5 376.6 22.4 6.12 4.75 2.08 12 41.6 6.51 14.7 14.7 5.38 10.06 7.5 106 0.73 42.5 283.4 9.1 13.28 0.188 1.3 13 1.58 5 1.92 0.128 155.8 1.16 2.47 66 63.1 2.52 16.04 9.77 14 21.95 9.08 1.35 1.06 107 1.93 1.61 4.03 3.31 4.8 43.7 2.28 10.14 1.71 5.3 1.2 26

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 FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA AYALA LAND LOG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.56 13.02 895 51.8 14.36 6.7 0.75 1.24 1.26 7.1 10.4 14.24 0.249 885 6.17 61 6 0.49 4.6 15.82 0.53 2.76 4.35 0.039 3.39 1.06 1.32 429 918.5 179.6 0.86 268.6 0.234 0.285

1.38 36.4 0.29 21.35 76.6 378.8 22.45 6.13 4.84 2.09 12.1 41.8 6.57 14.9 15.1 5.72 10.08 7.53 107 0.75 42.6 284 9.57 13.3 0.203 1.31 13.2 1.6 5.05 2.01 0.132 157 1.17 2.6 69.5 88.95 2.53 16.1 9.8 14.02 22.05 9.45 - 1.07 117.9 1.94 1.69 4.05 3.6 4.85 45 2.29 10.16 1.72 5.71 1.25 26.05

1.39 36.7 0.29 21 77 377 22.45 5.95 4.9 2.12 11.8 42.5 6.57 15 15.06 5.74 10.4 7.5 107.5 0.76 44.5 287.2 9.12 13.74 0.187 1.28 13 1.61 5.05 2 0.128 155.2 1.17 2.47 66 63.1 2.52 16.02 9.8 14.12 22 9.45 1.21 1.06 106.5 1.92 1.69 4 3.5 4.76 45 2.47 10.2 1.7 5.74 1.22 26

1.39 36.7 0.315 21.5 77 378.8 22.5 6.15 4.95 2.16 12.1 42.75 6.57 15 15.2 5.74 10.4 7.59 107.5 0.76 44.7 287.2 9.68 13.76 0.204 1.34 13 1.65 5.05 2.05 0.13 158.7 1.17 2.47 66 63.1 2.62 16.1 10.1 14.12 22.05 9.45 1.35 1.07 107 1.94 1.69 4.01 3.6 4.81 45 2.47 10.2 1.71 5.74 1.24 27

1.38 36 0.285 20.95 76.5 371.6 22.35 5.95 4.75 2.08 11.78 41.6 6.47 14.7 14.4 5.74 10.08 7.5 104.2 0.72 42 281 9.1 13.04 0.187 1.28 12.84 1.61 5 2 0.128 154.1 1.15 2.47 66 63.1 2.51 16 9.76 14 21.95 9.45 1.18 1.02 106.5 1.92 1.61 4 3.4 4.75 45 2.28 9.97 1.68 5.02 1.2 25.7

1.38 36.35 0.285 21.3 76.5 378.8 22.45 6.13 4.84 2.08 12.1 41.6 6.57 14.94 14.72 5.74 10.08 7.5 107 0.73 42.6 284 9.57 13.3 0.204 1.31 13 1.64 5.05 2.05 0.13 157 1.16 2.47 66 63.1 2.52 16.1 9.8 14 22 9.45 1.35 1.06 107 1.93 1.61 4.01 3.6 4.8 45 2.28 10.16 1.71 5.22 1.2 26.05

804000 579900 86580000 1889000 14440 150040 253500 4707300 144000 14296000 220000 245400 146300 341400 449400 100 3899600 332000 150260 2194000 256000 1693510 36500 1770400 50000 4417000 1511600 116000 28300 41000 360000 407510 2260000 124000 150 70 6956000 712900 1938300 497400 2550600 1100 42694000 690000 130 94000 16000 4000 8000 201000 100100 11087000 348900 307000 15500 304000 180100

1113580 21078120 26030000 40039225 1105394 56636290 5688320 28524568 700070 30109850 2645712 10263470 957197 5106090 6760832 574 39430648 2499380 15984055 1619740 11026510 480651836 336819 23593954 9520 5796670 19597728 190750 142341 82050 46530 63726871 2628560 306280 9900 4417 17734470 11443936 19172119 6983372 56113555 10395 54803300 725100 13850 181080 26560 16010 27800 962970 4504500 25923370 3509198 521420 82896 370490 4735555

HOLDING & FRIMS 0.57 13.06 898 52.3 14.74 6.85 0.78 1.25 1.27 7.16 10.46 14.48 0.26 886 6.18 61.6 6.21 0.5 4.65 15.86 0.55 3.38 4.37 0.04 3.4 1.07 1.36 445 922.5 179.8 0.87 269 0.237 0.29

0.6 13.64 903 52.05 14.6 6.85 0.73 1.26 1.29 7.2 10.48 14.5 0.265 880 6.2 61.45 6.07 0.51 4.64 16.36 0.53 2.76 4.44 0.039 3.54 1.12 1.36 430 919 181.8 0.81 269 0.233 0.285

0.6 13.66 905.5 52.55 14.74 6.85 0.8 1.26 1.29 7.2 10.48 14.5 0.265 891.5 6.2 61.6 6.21 0.51 4.65 16.48 0.53 2.76 4.44 0.039 3.56 1.12 1.36 430 923 181.8 0.87 274 0.239 0.295

0.57 13 893.5 51 14.16 6.7 0.73 1.22 1.27 7.02 10.22 14.22 0.25 868 6.17 59.55 5.9 0.47 4.58 15.8 0.53 2.76 4.33 0.039 3.35 1.07 1.36 429 914 179.3 0.8 268.4 0.233 0.28

0.57 13.06 895 52.3 14.74 6.7 0.75 1.25 1.27 7.1 10.46 14.48 0.265 885 6.18 61.6 6 0.51 4.65 15.86 0.53 2.76 4.36 0.039 3.39 1.07 1.36 429 922.5 179.8 0.86 269 0.237 0.285

10665000 59500 1572010 1015500 4160200 5100 1170000 1585000 121000 287600 4474300 110800 570000 84180 37500 699060 6500 14000 6904000 4291500 48000 1000 14737000 11700000 14945000 438000 5000 30 162350 329950 1086000 3260 190000 2910000

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790624 32092968 -58579085 18605 -594600 -36285761.5 -1320 2947211.5 -27100 -19040077 -511318.5 -14760 21200 -685780 -1843795 -522450 3916875 -552355 4693566 1815800 8506841 1928660 -8401710 3285 -139326 -6371506 -33975776 -704045 -5255316 18070 6201370 -144427002 1269996 -137400 -5580902 -4240909 -292000 281580 2050080.0003 1228016 5622904.0003 -416510 17490180 -603190 -38400 -289000 22500 -474490 428163.9997 247020.0003 6650 -90890090 3526752 -6650166 33500 127000 -804877 -3093694 14292 31847590 -15392834.5 7,055,960.0002) -35912724 7150429.9999 -17432080 27802155 -17866775 -45310 -43000 -37550

PROPERTY

ARTHALAND CORP 0.73 0.75 0.76 0.77 0.72 0.73 2423000 1794690 ANCHOR LAND 10.08 11.08 10.02 10.02 10.02 10.02 1000 10020 AYALA LAND 48.4 48.5 48 48.5 48 48.5 10520300 508537725 147780620 ARANETA PROP 2.13 2.14 2.19 2.19 2.13 2.13 161000 348610 -21400 BELLE CORP 2.3 2.35 2.3 2.36 2.29 2.35 111000 257380 22990 A BROWN 0.77 0.79 0.8 0.8 0.76 0.79 1047000 814260 CITYLAND DEVT 0.86 0.89 0.89 0.89 0.86 0.89 3000 2640 CROWN EQUITIES 0.227 0.228 0.226 0.227 0.225 0.227 4610000 1038300 CEBU HLDG 6.24 6.35 6.35 6.35 6.35 6.35 2400 15240 CEB LANDMASTERS 5.03 5.06 5 5.06 4.93 5.06 1241000 6214230 1470490 CENTURY PROP 0.58 0.59 0.54 0.59 0.54 0.59 156117000 89956000 1069550 CYBER BAY 0.375 0.395 0.375 0.375 0.375 0.375 140000 52500 DOUBLEDRAGON 24.1 24.15 24.8 24.8 24.05 24.15 214800 5207550 -267215 DM WENCESLAO 10 10.04 10.22 10.22 10 10.04 215800 2169830 300600 EMPIRE EAST 0.48 0.49 0.48 0.49 0.48 0.48 6360000 3077650 -2417000 EVER GOTESCO 0.125 0.133 0.125 0.125 0.125 0.125 1200000 150000 FILINVEST LAND 1.59 1.6 1.63 1.65 1.59 1.6 17264000 27819030 -13697480 GLOBAL ESTATE 1.4 1.41 1.41 1.43 1.37 1.4 3980000 5524310 138000 8990 HLDG 15.08 15.3 15.3 15.5 15.06 15.3 414800 6339070 -1229808 PHIL INFRADEV 1.77 1.78 1.75 1.77 1.7 1.77 1700000 2976210 66940 CITY AND LAND 0.78 0.81 0.81 0.82 0.81 0.82 19000 15520 MEGAWORLD 5.49 5.5 5.55 5.58 5.45 5.49 18765700 103237056 -26093572 MRC ALLIED 0.305 0.31 0.315 0.32 0.305 0.31 12690000 3958350 325800 PRIMEX CORP 2.15 2.16 2.28 2.28 2.1 2.15 2987000 6472490 ROBINSONS LAND 23.85 24.5 23.9 24.5 23.75 24.5 676500 16342380 1438950 PHIL REALTY 0.42 0.425 0.415 0.43 0.415 0.415 330000 137100 ROCKWELL 2.04 2.08 2.08 2.1 2.05 2.05 548000 1139690 SHANG PROP 2.99 3.03 3.03 3.04 3.03 3.03 226000 686780 STA LUCIA LAND 1.84 1.85 1.85 1.86 1.83 1.85 1445000 2670130 SM PRIME HLDG 38.9 39.4 39.35 39.5 38.8 39.4 3749300 147114165 -9285600 STARMALLS 6.47 6.58 6.6 6.6 6.44 6.47 179800 1165882 VISTA LAND 7.1 7.11 7.21 7.25 7.11 7.11 4436400 31635113 -9904383

SERVICES ABS CBN 18.56 18.6 18.9 18.9 18.5 18.56 131100 2447438 GMA NETWORK 5.33 5.34 5.33 5.38 5.32 5.33 119900 640471 MANILA BULLETIN 0.56 0.57 0.56 0.59 0.56 0.56 1863000 1056750 GLOBE TELECOM 2100 2108 2100 2150 2090 2100 94195 198701190 28619660 PLDT 1310 1327 1320 1340 1311 1327 126635 168164520 98883965 APOLLO GLOBAL 0.044 0.045 0.042 0.046 0.042 0.045 39800000 1764000 DFNN INC 6.14 6.15 6.15 6.23 6.14 6.15 203000 1250446 -1056616 IMPERIAL 1.76 1.89 1.76 1.76 1.75 1.75 39000 68450 ISLAND INFO 0.121 0.122 0.122 0.122 0.121 0.122 1060000 129120 ISM COMM 6.42 6.46 6.01 6.6 5.9 6.42 27691500 174139594 1513749 JACKSTONES 2.95 3 2.96 2.96 2.94 2.95 119000 351100 NOW CORP 2.06 2.07 2.03 2.12 2.03 2.07 1676000 3487220 -108790 TRANSPACIFIC BR 0.32 0.325 0.32 0.325 0.315 0.32 3730000 1184250 PHILWEB 3.2 3.22 3.08 3.25 3 3.2 4360000 13724830 -1882200 2GO GROUP 11.5 11.7 11.7 11.7 11.48 11.5 13200 151976 ASIAN TERMINALS 20.5 20.9 20.8 20.8 19.8 20.5 35900 723060 171310 CHELSEA 6.69 6.7 6.25 6.74 6.25 6.7 4628700 30304481 308843 CEBU AIR 87.8 87.9 89 90 87 87.8 121290 10765673 -283923 INTL CONTAINER 135.6 136 136 137.9 135.4 136 1957170 266399581 -4499447 LBC EXPRESS 14.42 14.7 14.8 14.8 14.5 14.6 10100 147850 LORENZO SHIPPNG 0.8 0.83 0.78 0.87 0.78 0.83 326000 264420 -79380 MACROASIA 19.7 19.72 19.9 19.9 19.6 19.72 388600 7657502 1714776 METROALLIANCE A 1.61 1.69 1.65 1.69 1.63 1.69 21000 34390 METROALLIANCE B 1.6 1.92 1.63 1.63 1.6 1.6 23000 37300 PAL HLDG 9.62 9.7 9.68 9.96 9.62 9.62 12900 125621 HARBOR STAR 2.51 2.54 2.45 2.55 2.45 2.51 1505000 3776420 374950 BOULEVARD HLDG 0.06 0.061 0.061 0.063 0.06 0.06 26850000 1635280 122000 DISCOVERY WORLD 2.03 2.15 2.04 2.04 2.04 2.04 15000 30600 WATERFRONT 0.71 0.72 0.74 0.74 0.72 0.72 2138000 1553850 -5090 FAR EASTERN U 890 895 890 890 890 890 70 62300 IPEOPLE 10.7 11.24 11.26 11.26 11.26 11.26 100 1126 STI HLDG 0.64 0.65 0.66 0.67 0.63 0.65 13914000 9003600 644360 BERJAYA 2.75 2.81 2.8 2.85 2.72 2.83 925000 2592610 -101520 BLOOMBERRY 11.16 11.2 11.2 11.22 11.1 11.16 2925200 32633624 -29038946 PACIFIC ONLINE 3.27 3.28 3.29 3.33 3.28 3.28 212000 695490 -3290 LEISURE AND RES 4.6 4.63 4.64 4.72 4.52 4.6 2899000 13346230 5447230.0001 MANILA JOCKEY 3.9 3.91 3.71 3.93 3.71 3.9 189000 731610 PH RESORTS GRP 4.51 4.52 4.35 4.51 4.19 4.51 164000 731280 PREMIUM LEISURE 0.75 0.76 0.77 0.77 0.74 0.76 2548000 1924730 -87160 TRAVELLERS 5.49 5.5 5.55 5.55 5.38 5.5 359100 1954467 -45690 METRO RETAIL 2.75 2.76 2.79 2.79 2.75 2.76 2372000 6566750 603120 PUREGOLD 45.35 46.15 46 46.15 45.2 45.35 1424100 64972260 950985 ROBINSONS RTL 70.35 70.5 71.9 71.9 69.6 70.35 320530 22617193.5 -1527620 PHIL SEVEN CORP 112.4 121 119 120 119 120 160 19050 19050 SSI GROUP 3.1 3.11 3.2 3.2 3.08 3.1 7281000 22705840 2737610 WILCON DEPOT 16.4 16.48 16.54 16.56 16.38 16.4 552500 9067422 -1473276 APC GROUP 0.4 0.41 0.405 0.41 0.405 0.405 130000 52700 EASYCALL 10.22 10.3 10.48 10.6 10.04 10.22 117300 1199878 GOLDEN BRIA 399.6 408 401 408 397.8 408 3150 1281466 IPM HLDG 6 6.5 6.2 6.2 6 6 18700 113650 PAXYS 3 3.19 3.03 3.03 3 3 56000 168460 PRMIERE HORIZON 0.82 0.83 0.87 0.87 0.83 0.83 76279000 64431270 -957890 SBS PHIL CORP 9.5 9.6 9.62 9.7 9.5 9.5 47600 458137 -9600

MINING & OIL ATOK 10.54 11.7 11.86 11.88 10.7 11.76 11200 121230 APEX MINING 1.06 1.07 1.12 1.15 1.06 1.06 3606000 3,940,030( 2,528,009.9997) ABRA MINING 0.0018 0.0019 0.0019 0.0019 0.0018 0.0018 102000000 193600 ATLAS MINING 2.7 2.83 2.71 2.72 2.7 2.7 101000 272800 COAL ASIA HLDG 0.285 0.295 0.295 0.295 0.28 0.29 880000 256550 CENTURY PEAK 2.81 2.82 2.81 2.82 2.79 2.81 400000 1121330 -11240 DIZON MINES 7.71 7.8 7.73 7.82 7.63 7.73 9100 70218 FERRONICKEL 1.56 1.58 1.52 1.6 1.5 1.58 400065000 605511780 690010 GEOGRACE 0.22 0.228 0.231 0.232 0.218 0.23 520000 115630 LEPANTO A 0.108 0.109 0.107 0.11 0.107 0.109 4170000 453250 LEPANTO B 0.104 0.111 0.112 0.112 0.111 0.111 300000 33400 MANILA MINING A 0.0078 0.0084 0.0079 0.0086 0.0078 0.0079 29000000 229900 MANILA MINING B 0.0078 0.008 0.0079 0.0093 0.0078 0.0078 2061000000 17606700 MARCVENTURES 1.03 1.05 1.04 1.04 1.03 1.03 44000 45330 NIHAO 0.97 0.99 1 1.01 0.95 0.99 224000 213880 9900 NICKEL ASIA 2.16 2.18 2.24 2.25 2.14 2.16 4084000 8839760 -1178530 OMICO CORP 0.58 0.61 0.6 0.61 0.58 0.61 130000 77380 ORNTL PENINSULA 0.88 0.89 0.87 0.89 0.87 0.89 122000 107290 PX MINING 2.91 2.93 2.92 2.92 2.89 2.91 78000 226620 -31910 SEMIRARA MINING 22.2 22.35 22.45 22.7 22.35 22.35 3069600 68829925 43415340 UNITED PARAGON 0.0064 0.0065 0.0065 0.0065 0.0065 0.0065 4000000 26000 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 800000 8800 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 20600000 226700 -27500 PHINMA PETRO 3.97 4.14 4.17 4.3 3.97 4.14 319000 1300620 PXP ENERGY 7.86 7.87 7.95 8.01 7.86 7.86 780100 6192458 157423

PREFFERED

AC PREF B2 483.2 500 486 486 483.2 483.2 5000 2416054 33860 SMC FB PREF 2 970 985 985 985 985 985 2600 2561000 FGEN PREF G 104 104.3 104.3 104.3 104.3 104.3 1240 129332 GLO PREF P 487 493 486 486 486 486 3000 1458000 LR PREF 0.98 0.99 1 1 0.98 0.98 260000 255400 MWIDE PREF 100.6 101 101 101 101 101 10 1010 PNX PREF 3A 99.5 101.9 99.1 99.1 99.1 99.1 1430 141713 PCOR PREF 2A 965 997 997 997 997 997 20 19940 19940 PCOR PREF 2B 950.5 992 992 992 992 992 60 59520 39680 SMC PREF 2B 74.8 75 74.8 75.05 74.8 74.85 21940 1641791 15010 SMC PREF 2C 76.4 76.9 76.9 76.9 76.9 76.9 340 26146 SMC PREF 2D 71.55 72.95 71.6 72.5 71.25 72.5 18600 1335348.5 SMC PREF 2E 72.5 73.5 72.5 72.5 72.5 72.5 1810 131225 SMC PREF 2F 73.8 74.4 74 74 73.8 73.85 17100 1262180 SMC PREF 2G 73.55 74.4 73.8 74.4 73 74.4 78940 5762774 SMC PREF 2H 72.5 73 73 73 72.25 72.3 129400 9364210 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

17.9

18

18

18

18

18

51700

930600

WARRANTS LR WARRANT

2.05

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.68 XURPAS 1

2.1

2.11

2.03

2.08

329000

679850

-

4.7 1.01

4.79 1

4.85 1.03

4.7 0.97

4.7 1

418000 3133000

1975570 3122350

-395730

EXHANGE TRADE FUNDS FIRST METRO ETF

116.5

-930600

2.1

116.8

116.9

116.9

116.6

116.8

1620

189077

93310

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Friday, May 24, 2019

B3

Monetary execs cut deposit Hot money reverts requirement of small banks to outflows in April

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By Bianca Cuaresma

T

@BcuaresmaBM

WEEK after its cut in the universal and commercial banks reserve requirement ratio (RRR), the Bangko Sentral ng Pilipinas (BSP) Monetary Board moved to cut its deposit requirement again—this time on smaller banks in the system.

BSP Governor Benjamin E. Diokno announced to the media on Thursday afternoon that the Monetary Board decided to cut the RRR of thrift banks by 2 percentage points from the current 8 percent down to 6 percent—with the implementation dates as follows: 100 basis points effective May 31; 50 basis points effective June 28; and, 50 basis points effective July 26, 2019.

For r ura l a nd cooperat ive banks, the RRR was also cut by 100 basis points—from 5 to 4 percent—effective May 31.

Rizal Commercial Banking Corp.

(RCBC) economist Michael Ricafort said that every 1-percent cut in RRR of smaller banks equate to additional peso liquidity into the financial system of approximately P9.3 billion for thrift banks and about P1.8 billion for rural and cooperative banks.

This means that the recent cut

of the BSP effectively releases about P20.4 billion in fresh liquidity to the local cash stream.

Exactly a week ago, the Monetary Board cut the RRR of the universal and commercial banks by a total of 2 percentage points—equivalent to about P190 billion in additional peso liquidity to be infused into the financial system. As per implementation dates, about P95 billion will be released by end-May; about P47 billion by end-June 28; and another P47 billion by end-July.

Economists and bankers earlier lauded the BSP for cutting the banks’ RRR, saying it will be positive for the country’s overall growth.

“We think the cut is a positive for economic growth as domestic liquidity and aggregate demand will be augmented, especially in light of the disappointing firstquarter GDP [gross domestic product] print caused by the delayed budget passage and

Five global trends and association events

I

T’S already midyear and I guess I’m already late with this article. Nevertheless, I think it’s still worth telling since I believe the implications will be long term and far-reaching. It is about global macrotrends that could help boost your association’s plans and conduct of future conferences and other events for your members (or if ignored, be left insignificant with perilous consequences).

The Chicago-based Professional Conference Management Association, in collaboration with Marriott International, released a study to highlight the following five bigpicture influencers, which, as you will note below, have been applied to events: n Emotional intelligence: As companies get smarter with predictive analytics, consumer expectations for personalized and seamless experiences will continue to rise.

Business events will need to move past reactive adjustments to adopt a proactive approach to personalize experiences, understanding the needs of participants before they arrive at the event. n Orchestrated serendipity: Participant attention is at an all-time premium, as technology amplifies distraction and enables remote attendance. Experiences must embrace freedom and surprise, freeing consumers from the constant constraint of schedules or agendas. By embracing the unexpected, events can engage participants and leave a lasting impression. n Multimodal design: Every event has a unique objective and audience, and a space must reflect that event’s specific personality and needs. From technological infrastructure to architecture, to furniture and fixtures, space is critical to any event, and should be designed to adapt to the ways that participants will engage. n Bigger than oneself: Providing content is not enough anymore. Every event must have a message. Participants want to understand what’s important to a business and experi-

Association World Octavio Peralta ence events that deliver that message down to the smallest detail allowing them to meaningfully connect with the experience and bringing purpose to their engagement. n Clear sense of place: The most memorable events celebrate local surroundings, exposing attendees to the local culture, and connecting them with the community to increase engagement.

These trends may also apply to business organizations. I’m certain you may have noticed how, for instance, local mall establishments are adapting and promoting more personalized experiences through the redesign of shops and creating more public spaces as compared to the old, conventional “box-type” malls of the past. Movie theaters have also been redesigned to “experience the movie” rather than “mere watching it.”

Visionary association leaders should consider these developments as inputs to their future programming, lest they experience being left behind and biting the dust.

The contributor, Octavio B. Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap), founder and CEO of the Philippine Council of Associations and Association Executives (PCAAE) and president of the Asia-Pacific Federation of Association Organizations.

The purpose of PCAAE—the “association of associations”—is to advance the association-management profession and to make associations well-governed and sustainable.

PCAAE enjoys the support of Adfiap, the Tourism Promotions Board and the Philippine International Convention Center.

Email: obp@adfiap.org.

BSP Governor Benjamin E. Diokno is shown here when he was still the head of the Department of Budget at a news briefing last year. Diokno announced to reporters on May 23 that the Monetary Board decided to cut the reserve ratio requirements of thrift banks by 2 percentage points to 6 percent. BusinessMirror FILE PHOTO

a tepid trade component,” Security Bank Corp. economist Robert Dan Roces said.

“Technically, this injection will cause the peso to face stronger depreciation pressures with more money circulating in the domestic economy; and a sharper peso depreciation could stoke inflationary pressures,” Roces added.

But the staggered implementation, he said, will seek to arrest this tendency.

“As the RRR cuts are done in a gradual, managed nature, its end goal will be to bring down financial intermediation costs, as well as orienting monetary instruments to become more market-based, thereby leading to better credit growth that goes into capital formation and

consumption,” Roces said.

Also earlier this month, the BSP cut its main policy rates by 25 basis points.

Diokno said their decision to cut after several months of unchanged monetary-policy stance and agressive rate hikes in 2018 was based on their assessment that the inflation outlook continues to be manageable, with easing price pressures owing to the decline in food prices and improved supply conditions.

Inflation is projected to fall further than earlier expected for this year— with their forecast now at 2.9 percent from the earlier 3-percent forecast about two months ago.

For next year, however, their inflation projection was scaled upward to 3.1 percent from the earlier 3-percent forecast.

HE Bangko Sentral ng Pilipinas (BSP) on Thursday reported a slump in the country’s foreign portfolio investments (FPI), as investors stayed cautious due to ongoing developments in the global arena.

Foreig n por t fol io investme nt s — or more p o pu l a rly known as “hot” or “speculative” money—registered in the red in April, the Central Bank reported, reversing the gains seen earlier this month and in the same month last year.

Hot money in April hit a net outf low of $298.83 million, re versi ng t he $279. 29 m i llion net inflow seen in April last year.

Foreig n por t fol io investments are known as hot or speculative money because they are easily pulled in and out of local platforms in the slight change of global and local sentiment.

This type of foreign investment is usually a measure of the global economy’s investing sentiment to the Philippines in short-term prospects for yields, in contrast to foreign direct investments (FDI) which are investments placed in the Philippines in search for long-term yield.

The April net outflows pushed the overall hot money aggregate in the first four months of the year down to a net inflow of $37.27 million—a stark contrast

from the $1.22 billion in the first four months of 2018.

The BSP attributed the slump to global investors’ aversion to risk during the period, as they adapt a wait-and-see stance to ongoing developments.

“Investors also stayed cautious amid the lack of fresh catalysts in the market and ongoing trade negotiations between the US and China,” the BSP said.

The BSP also said investor reaction to the delayed approval of the 2019 national government budget and the damage caused by the April 22 earthquake that jolted parts of Luzon and Visayas also contributed to the tamer sentiment during the month.

Accord ing to the Centra l Bank, about 79.2 percent of investments registered during the month were in stock-listed securities (pertaining mainly to property companies, holding firms, banks, food, beverage and tobacco companies, and transportation services companies).

Mea nwh i le, 20. 8 percent went to Philippine government securities and the balance of about less than 1 percent went to peso time deposits.

The United Kingdom, the United States, Singapore, Hong Kong and Luxembourg were the top 5 investor countries for the month, with combined share to total at 84.8 percent. Bianca Cuaresma

Manulife: Mobile-optimized web site to help consumers

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HE Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife) announced the launched of the firm’s new mobile-optimized web site.

In a statement on Thursday, Manulife said it expects the web site would allow policyholders to access their respective coverage amount, premium due date, fund values, beneficiaries and the contact information of their financial advisers.

“Customers today are very busy.

They want to be able to make trans-

actions anytime and anywhere, and access their information easily and quickly,” Manulife Senior Vice President and Chief Marketing Officer Melissa Henson said.

Through the web site, clients can also update their personal information in real time and make payments for their policies via credit card.

“This is just one of our efforts to help make owning life insurance less daunting and more manageable,” she added.

BOC: Two brokers nabbed in entrapment operation

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HE Bureau of Customs (BOC) reported that two brokers suspected of extorting money from importers and exporters were arrested during the joint entrapment operation of its Intelligence Group (IG) and the National Bureau of Investigation (NBI) operatives.

In a statement issued on Thursday, the BOC pointed out it received a complaint on May 20 in line with the alleged extortion activities of two persons who were demanding P500,000 in exchange for the release of the shipments consigned to Shacka Guns and Ammo and held at the Ninoy Aquino International Airport (Naia).

Upon receiving the complaint, the BOC’s IG coordinated with the NBI Special Action Unit (SAU) for the complainants to provide their sworn statements.

Sometime after giving their statements, the complainants received a message from the suspects arranging a meeting at a restaurant in Quezon City, this prompted the IG and NBI to take advantage of the situation and organize an entrapment operation.

The complainants, together with undercover authorities, met with the suspects where the two alleged extortionists were arrested after they accepted the marked money.

“We will not tolerate extortion and all forms of corruption in the bureau. Customs will be cooperating with the NBI on their investigation. If any Customs officer is involved in this extortion, or any other illegal activities, we will make sure that they are prosecuted accordingly,” Customs Commissioner Rey Leonardo B. Guerrero said.

Current investigation reveals that the two suspects were not Customs officers but were bogus brokers who were allegedly extorting money from stakeholders of the BOC. According to lawyer and NBI SAU Chief Emeterio A. Dongallo Jr., its investigation on the matter will continue to identify, apprehend and prosecute any other personalities who may be involved in the alleged extortion activities. He also pointed out that an estafa case will be filed against the two arrested suspects who were named as one “Roberto D. Geotina” and a “Nancy Nuguid.”

“Let this serve as a warning to those officers who unlawfully hold shipments in order to blackmail legitimate businesses and individuals for money,” Guerrero added.

Last month, the BOC issued an administrative order covering the exercise of its jurisdiction and police authority, in a bid to boost its anti-smuggling efforts and border security mandate.

Under Customs Administrative Order 03-2019, the BOC strengthened the exercise of its jurisdiction and police authority on all imports entering the country, as well as exports for shipment, including persons or carriers suspected to be carrying smuggled items in violation of the Customs Modernization and Tariff Act. Rea Cu

In January, the Insurance Commission (IC) said it expects an increase in the number of Filipinos who would be more open to investing in insurance products this year, especially when insurance companies are creating products customized according to their consumers’ specific needs and tapping platforms to make it more convenient for customers to know more about insurance products.

The IC said it expects the general public to be more open to investing

in insurance products, especially now that innovations in product development, as well as the use of digital technology, are being incorporated more and more by the local insurance players.

The web site’s launch follows Manulife’s inauguration of its information-technology company in the Philippines, in line with delivering and maintaining digital solutions, as well as providing robust delivery and quality assurance to its customers across Asia. Rea Cu

B4 Friday, May 24, 2019

‘SAFETY ALERT’ IN THE DIGITAL AGE

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A FORCE TO BE RECKONED WITH Behind the glam from grand hotel hopping to receive various awards, Dunhill Events and Advertising Promotions is dedicated to closely work with their clients from dusk to dawn. Several meetings are held with numerous negotiations to have an approved project, but Dunhill pulls it off and gains the spotlight in the heart of the corporate world. In the photo are models and marketing managers receiving awards for Best in Advertising and Communications in Metro Manila. Dunhill is also set to expand in supermalls in the Visayas and Mindanao soon.

BRAIN FITNESS AT SUNSHINE PLACE

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UNSHINE Place welcomes brainHQ Philippines as it conducts a three-month coaching program designed to enjoy life with less “senior moments”.

Benefits of the program include memory improvement, better mood, faster auditory processing, lowers the risk of dementia, faster visual processing, less chance of developing depression, improvement of attention span, increased brain activation and more self-

confidence. These program are intended to strengthen brain function and improve the individual’s mental, physical, and emotional faculties. Its services include excercises on memory, attention, brain speed, people skills, intelligence and navigation.

The three-month program is from May to July with two sessions per week. For more information and registration details, e-mail at brainhqphilippines@gmail.com.

S it okay for first-time parents t o l e a r n p a r e nt i n g o n l i n e?

Today’s millennial parents can’t help it sharing pictures, videos and experiences online. Even strangers can easily become priv y to your personal life and offer unsolicited advice while, most of the time, it can also be a great source of support.

R ichwell Philippines Inc. recognizes the need for young parents to be better informed in making the right parenting choices for their children. This is why they continue parenting education through their successful “Parenting on the Move” advocacy last year and, now, with

“Safety Alert in the Digital Age”.

Presented by Pigeon, the No. 1 baby-care brand in Japan, the forum offered practical solutions to everyday mommy’s and daddy’s concerns through quality products developed through extensive research. The roundtable discussion was held on May 15 at the Cibo Powerplant Mall.

Actress, model, entrepreneur, and celebrity mom Isabelle DazaSemblat, a first-time mom who is no stranger to parenting challenges, moderated the forum. The panelists included Maye Yao Co Say, currently the chief operating officer of Richwell

Philippines Group of Companies; Tanya Velasco, a preschool teacher, a f a c i l it at o r o f p a r e nt - i n f a nt / toddler classes; Ma. Celi M. RicoTantianpact, MD, who cur rent ly holds a clinic as consultant staff of the Department of Pediatrics, Ma k at i Med ica l Center; Ber nice V. Quiros-Tan, MD, FPOGS, who is currently training in obstetrics and gynecology at Makati Medical Center; Georges Ramirez, a veteran race-car driver and instructor, as well as a senior editor of C! magazine; a nd A r t S a m a n ie go Jr., Manila Bulletin’s resident geek recognized as one of the country’s go-to-guy for anything technology-related.

O t her topic s d i sc u sse d were handling a newborn, creating a safe environment and child development.

Richwell distributed products that are baby- and child-friendly, making motherhood nowadays much easier than before.

Parents, even teachers, need not to feel overwhelmed with the current “ information overload ” on social media and the Internet.

Watch out for the next Parenting on the Move child-care event from Richwell.

Enjoy exclusive promotions on par ticipating Safet y A ler t items when you visit Baby Co.

Sports IOC FORMS TASK FORCE FOR TOKYO ’20 BOXING BusinessMirror

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| Friday, May 24, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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HE International Boxing Association (Aiba) has been suspended as the Olympic governing body for the sport and will not play any role in organizing the tournament at Tokyo 2020, the International Olympic Committee (IOC) announced on Thursday.

The IOC has set up a special taskforce to oversee the delivery of a boxing competition at next year’s Olympics in the Japanese capital.

The group, to be chaired by International Gymnastics Federation President Morinari Watanabe, will also be tasked with organizing the qualification system.

Qualifying events are set to take place between January and May of next year.

Exact weight categories for the men’s and women’s events have not yet been confirmed, however, meaning the uncertainty for boxers hoping to compete at Tokyo 2020 will continue for even longer.

The IOC has set a deadline of the end of next month for this to be put in place, while a review of quota places will also be carried out.

IOC President Thomas Bach insisted the Executive Board “could not have gone any further” in their sanction against Aiba, claiming they could not “preempt the recommendation” of the Inquiry Committee, chaired by Serbia’s Nenad Lalović.

Professional boxing organizations could be among those that the taskforce will contact to help run boxing at next year’s Games, Bach revealed, but who will be in charge of organizing it remains unclear.

The IOC revealed only that it would be “organized following guidelines established by the IOC Executive Board.”

“This is a very good day for boxers because now they know there will be an Olympic boxing tournament in Tokyo and there will be a qualification system,” Bach added.

“All the partners involved will do everything to ensure this will be a safe and fair competition.”

The decision, taken by the IOC Executive Board after it received a 30-page report from the Inquiry Committee, is

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WORLD’S BEST WON’T GRACE WOMEN’S WORLD CUP

W THE group, to be chaired by International Gymnastics Federation President Morinari Watanabe, will also be tasked with organizing the qualification system.

subject to final approval at next month’s Session here from June 24 to 26.

This is expected to be a formality.

It follows a six-month investigation into Aiba amid concerns regarding its governance, finances, and refereeing and judging.

In its full decision, the IOC Executive Board claimed the current situation of Aiba “is such that its practices and activities continue to fall short of full conformity and compliance with the Olympic Charter and the IOC Code of Ethics.”

The IOC warned this “presents serious legal, financial and reputational risks to the IOC and the Olympic Movement.”

Bach said the issues that the Inquiry Committee found were “extremely serious” and stressed that a key factor in

IFA has abandoned controversial plans to expand the 2022 World Cup in Qatar from 32 to 48 teams because of political tension in the region.

In a statement, world football’s governing body confirmed the tournament would feature 32 nations.

Fifa President Gianni Infantino had been keen to increase the amount of teams by 16 for the 2022 edition of the organization’s flagship event.

“Following a thorough and comprehensive consultation process with the involvement of all the relevant stakeholders, it was concluded that under the current circumstances such a proposal could not be made now,” Fifa said in its statement.

A proposal was due to be put to the Fifa Congress in Paris on June 6 after the expansion was declared “feasible” by the ruling Council in March.

It would have involved hosting matches in countries outside of Qatar after it was deemed incapable of staging an enlarged World Cup without the support of neighboring countries.

A number of countries, including Saudi Arabia, the United Arab Emirates, Bahrain and Egypt, have severed all diplomatic ties due to Qatar’s alleged support for terrorism—accusations which have been denied by officials in Doha—and support has not been forthcoming.

Fifa admitted it had also considered whether Qatar could host a 48-team tournament on its own but said a joint analysis of this possibility had “concluded that due to the advanced stage of preparations and the need for a detailed assessment of the potential logistical impact on the host country, more time would be required and a decision could not be taken before the deadline of June.”

“It was therefore decided not to further pursue this option,” the statement added.

Last June, a 48-team World Cup in 2022 was taken off the agenda of the Fifa Congress in Moscow which preceded the 2018 tournament in Russia.

Infantino revealed Fifa would only proceed with the plan with the support of the host nation.

A total of 48 teams have already been confirmed for the 2026 World Cup which will be cohosted in North America by the United States, Canada and Mexico.

Infantino was hopeful this could be brought forward, despite opposition from bodies such as UEFA and human-rights groups, which have criticized Qatar’s hosting amid concerns over treatment of workers. Insidethegames

the decision was Aiba’s inability to work with companies or officials in the United States owing to Gafur Rakhimov’s status with authorities in the country.

Rakhimov, whose election as permanent Aiba president last November was the main catalyst for the investigation, remains on a US Treasury Department sanctions list as “one of Uzbekistan’s leading criminals.”

He denies any wrongdoing but stepped aside in March following months of negative publicity and was replaced by Interim Head Mohamed Moustahsane, a Moroccan.

Aiba has, though, been given hope that it can regain its recognition after Tokyo 2020, with its progress due to be assessed by an IOC Monitoring Committee consisting of the members who led the initial inquiry.

Bach warned, however, that there would need to be

“fundamental change” if Aiba is to be reinstated.

The embattled body is also free to organize the boxing events at Continental Games which will be held across the world this year.

These include the European Games, the Pacific Games, the Pan American Games and the African Games.

Aiba, which has insisted it has made progress and blamed its problems on former President CK Wu, also has the possibility of an appeal to the Court of Arbitration for Sport.

In a statement sent to insidethegames, Aiba said: “Aiba has taken note of the announcement made by the IOC. “Aiba is currently reviewing the report from the IOC and will not make any comments until further clarification is made, however Aiba does look forward to working with the IOC in the future.” Insidethegames

Qatar 2022 World Cup to stick with 32 teams

FIFA President Gianni Infantino had been keen to increase the amount of teams by 16 for the 2022 edition of the organization’s flagship event.

ITH a no-nonsense look etched on her face, Ada Hegerberg stares straight into the camera and says: “Now it’s time for action.”

It’s fitting the Norwegian superstar was chosen as the face of a recently launched campaign aimed at improving the profile and standards in women’s soccer.

Not just because, as the first ever female winner of the Ballon d’Or, she is the outstanding player in the women’s game.

But because she also is fighting her own private battle for equality and greater respect in the sport, a battle that will deprive soccer fans of the chance to see her at the Women’s World Cup, which kicks off in France on June 7.

Hegerberg hasn’t played for Norway for two years, ever since she decided to rule herself out of selection over what she perceives to be a general disregard for women’s soccer in the country. The crux of her frustration is the uneven pace of progress and strategy in the women’s game.

The Norwegian Football Federation has reached an agreement with Norway’s players’ association for an equal pay deal between men and women. The deal, struck in December 2017, was held up as the first of its kind in international soccer.

The federation also now has a female sporting director—former international Lise Klaveness—who splits her time equally between the country’s men’s and women’s teams, and runs a project aimed at developing top women’s coaches. She is sure Norway invests more money in the women’s game than “most other federations.”

Still, Hegerberg won’t return for the World Cup. “A lot of things need to be done,” she said in an interview with The Associated Press last year, “to make the conditions better for women who play football.”

Norway Coach Martin Sjogren said meetings were held in an effort to change Hegerberg’s mind ahead of the tournament. They were in vain.

“As a coach, you need to focus on the players who want to be a part of the team,” Sjogren said, “and Ada doesn’t.”

Klaveness doesn’t want the dispute with Hegerberg to leave a cloud over the Norwegian team but was keen to stress she has “not given up” on the country’s star player.

“We need to try to have a confidential relationship and just talk directly to each other so we can have common ground and maybe have her back after the World Cup,” Klaveness said in a phone interview with the AP. “That’s where we are now.”

And so, the best player in women’s soccer won’t be gracing the biggest tournament in women’s soccer. It’s a black eye for Fifa—the organizer of the World Cup— considering Hegerberg won the Ballon d’Or last year and stood alongside Lionel Messi, the winner of the men’s award, as the current icons of the sport.

She is putting up Messi-like scoring numbers, too.

Thanks to her hat trick for Lyon in its 4-0 win over Barcelona in the Women’s Champions League final, she has 44 goals in 46 appearances in that competition. In domestic games, she has 211 goals over 208 games.

Her goal tally for Norway—38 in 66 appearances—is also extraordinary, considering she stopped playing for the team at the age of 21.

That’s why she’ll be so sorely missed in France.

“I think Ada’s decision needs to be respected,” Nadine Kessler, UEFA women’s football director, told the AP. “It’s a brave decision to consciously miss a World Cup.” AP

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HILIPPINE Air Force Go For Gold has been tagged as the heavy favorite to bag the title in the ongoing Spikers’ Turf Season 4 Reinforced Conference 2019.

The defending champion Air Force Go For Gold spikers are the wise-money bets after they swept the reinforced and open conferences last season with national team mainstays and newly crowned University Athletic Association of the Philippines Season 81 Most Valuable Player champion Bryan Bagunas and Air Forces’ Airman Second Class Alnakran Abdilla capturing the Finals MVP in both tournaments, respectively.

Chances are similarly favorable again since headcoach Staff Sergeant Rhovyl Verayo has practically beefed up his lineup that also included comebacking opposite spiker Fauzi Ismail, setter Airman Second Class Jessie Lopez and middle hitter Airman First Class Jeffrey Malabanan, to name a few.

“We are happy to support our men and women in the armed forces. Their sacrifice inspires us a lot, and we want to help them in our small way,’’ Go For Gold godfather Jeremy Go said.

The partnership with the Philippine Air Force men’s volleyball team has increased the number of sports to nine that Go For Gold has been supporting.

Other members of the team are UAAP Season 81 Champions Kim Malabunga, Francis Saura and Madz Gampong, holdovers Team Captain A2C Pitrus de Ocampo, A2C Nino Jeruz, A2C Rodolfo LabradorJr., A2C Howard Mojica, Sandy Montero, Sgt. Raffy Mosuela, newcomer libero Rikko Marmeto and rookie Primo Rueca from NCAA South Champions De La Salle-Lipa.

Helping Verayo call the shots for Air Force Go For Gold are men’s national team Head Coach SSG Dante Alinsunurin, SSG Clarence Esteban and SSG Jhimzon Merza. Ltc Ramil Ranario is the program director of the PAF volleyball team.

The Go For Gold spikers have a winning tradition in the Spikers’ Turf for the past four seasons with four championships titles—two in the Reinforced and Open conferences (2016 and 2018)—in eight conferences.

They wound up second place in the 2015 and 2017 reinforced conference and placed third in the open conference on both seasons.

Aside from men’s volleyball, Go For Gold is a staunch supporter of national team athletes from cycling, sepak takraw, triathlon, chess, dragonboat, skateboarding, wrestling and a pair of basketball teams in the Philippine Basketball Association Developmental League and Maharlika Pilipinas Basketball League.

HEAVY FAVORITES THE Air Force team strikes a pose. They are (back row, from left) Fauzi Ismail, A2C Rodolfo Labrador Jr., Francis Saura, Kim Malabunga, SSG Clarence Esteban (Assistant Coach), Go For Gold head Jeremy Go, LTC Ramil Ranario (PAF Volleyball program director), Gerald de Guzman (Go For Gold), SSG Rhovyl Verayo, Bryan Bagunas, A1C Jeffrey Malabanan, A2C Howard Mojica and A2C Alnakran Abdilla; and (front row, from left) Team Captain A2C Ptirus de Ocampo, Sandy Montero, Primo Rueca, Madzlan Gampong, Rikko Marmeto and Sgt. Raffy Mosuela.

BUCKS NEED MORE FROM BENCH

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ILWAUKEE—The Bucks are back in Milwaukee looking to regain momentum in the Eastern Conference finals.

Coach Mike Budenholzer believes the play of his bench will be a major factor in what happens in Game Five on Thursday.

The Bucks reserves played so well in the first two games of the series that the teams’ apparel shop unveiled a “Bench Mob” t-shirt, celebrating the efforts of Malcolm Brogdon, Ersan Ilyasova, George Hill and others. Milwaukee’s bench outscored Toronto’s reserves 130-78 through the first three games of the series.

But it was the Raptors’ bench, led by forward Norman Powell’s 18 points, that decided Game Four—scoring 48 points on Tuesday as Toronto evened the series at 2-2.

“They need to play well,” Budenholzer said on Wednesday of his reserves. “I think our whole team, whether it be the bench or the starters, needs to be better defensively. I think there’s things offensively where the bench can, you know, just like the rest of us, we have to execute a little bit better...this series, the benches have been critical and very influential and credit to Toronto’s bench, particularly. They really stepped up and had a huge game, and we need that from our group.”

Serge Ibaka gave the Raptors a lift off the bench on Tuesday with 17 points and 13 rebounds. Fellow Toronto reserve Fred VanVleet added 13 points and six assists. Their efforts came as the Raptors got only 19 points from a hobbled Kawhi Leonard.

Raptors Coach Nick Nurse is confident his bench will continue to play well in Milwaukee

because of Toronto’s style of play.

“That’s really kind of our system, would be that we create opportunities and everyone’s involved and everybody’s touching the ball,” he said. “Everybody’s moving and cutting. It’s kind of a free-flowing, open system.

“If we play with the effort we’ve put in the last two games, actually three of the four games in the series, we are going to have a really good chance to win,” Nurse said. “We are going to put ourselves in position to win, and I don’t think it’s any tricky schemes or fabulous game plans. I think it’s our players playing their butts off, really.”

Brogdon, who returned from a foot injury in the Eastern Conference semifinals, missed his first seven shots on Tuesday night and finished with just four points. None of the Milwaukee reserves scored in double digits. AP

Tsonga defeats qualifier in Lyon

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YON, France—Former champion Jo-Wilfried Tsonga rallied past Canadian qualifier Steven Diez on Wednesday to reach the quarterfinals and extend his perfect record at the Lyon Open.

Tsonga, the 2017 champion, came within two points of losing but finally prevailed, 3-6, 7-6 (2), 6-3, on his sixth match point after two hours and 42 minutes.

The clay-court event serves as a warm-up for the French Open, which starts on Sunday in Paris.

“It was good for me to play a long match like this,” Tsonga said.

“I haven’t played a match this long for a while. I am not playing my best level, but I am giving everything mentally and that gives me confidence.”

Tsonga will next take on topseeded Nikoloz Basilashvili, who beat lucky loser Tristan Lamasine 7-5, 7-5.

N’Korea urged to send swimming team

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WANGJU, South Korea—With North Korea so far declining to send a team, organizers of the aquatics world championships in South Korea in July are urging a change of heart.

A joint declaration on Thursday by host city Gwangju and swimming world body Fina says “we earnestly desire the North Korean team to participate.”

The July 12 to 28 championships—in swimming, water polo, diving, open water swimming, artistic swimming, high diving—will confirm qualification places for the 2020 Tokyo Olympics.

When North Korea sent invited athletes and an official delegation to the 2018 Pyeongchang Winter Games, it fueled optimism in Olympic circles of future cooperation and a joint hosting bid for the 2032 Summer Games.

However, no North Korean has been entered for Gwangju ahead of a June 12 deadline.

Fina Executive Director Cornel Marculescu says “all channels remain open.”

Former Olympic swimming champion Ruta Meilutyte, meanwhile, retired from the sport on Wednesday after missing three doping tests.

The 22-year-old Meilutyte said she wants to focus on her studies and other interests, rather than a third Olympics next year.

“I have given all of myself to swimming. I used to live with it since my early years,” she said on the Lithuanian Swimming Federation web site. “Due to a busy workout schedule, I had to compromise my studies, but I want to start again now. I want to do simple things now, to grow, understand myself and the world around me in a better way.”

At 15, Meilutyte won gold in the 100-meter backstroke at the 2012 London Olympics and added world championship gold a year later.

However, she later said she struggled with the pressure to remain successful. AP

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Rondina, Arocha picked college volleyball’s best

UNIVERSITY of Santo Tomas’s Sisi Rondina and Arellano University’s Regine Arocha will receive the Volleyball Players of the Year award.

V PILIPINAS Golf Tournaments Inc. General Manager Colo Ventosa (third from left) poses with (from left) Taiwan Professional Golfers Association (TPGA) Chairman Hsieh Chin Sheng, DAAN Group General Manager Ku Chang Cheng and Ching Chuan Kang Golf Club Golf Manager Andy Ang during the ceremonials on Wednesday.

TAIWANESE SHOW WAY

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OUNG Tseng Tzu-Hao flashed an impeccable short game to card a six-under 66 and grab the clubhouse lead in the rain-delayed Daan Taiwan Professional Golfers’ Association (TPGA) Open at the Ching Chuan Kang Golf Club in Taichung, Taiwan, on Thursday.

Tseng birdied three of the first six holes after the start of the $100,000 event, originally set at 7 a.m., was pushed back four hours later due to heavy rains that rendered the military layout unplayable. He then bucked a three-putt miscue on No. 11 with four birdies in the last seven holes

to emerge the surprise provisional leader in the first Philippine Golf Tour Asia event abroad.

“My short game and putting just clicked,” said Tseng, 22, who saved pars in the six times that he went out of regulation.

Early-morning downpour submerged the fairways and greens of the par-72 course, forcing the organizers to delay the start of the championship.

“The fairways and greens were flooded, so we had to delay the start of the tournament.

But we’re doing everything we could, and we’re confident we’ll be able to complete this 72-hole

event as scheduled,” said Bryan Chen of TPGA. “We’ll start at 6:30 a.m. tomorrow [today] for those with unfinished first round.”

Jay Bayron, the lone Filipino entry in the full-packed field who drew a 12:20 p.m. start, didn’t hit his first drive until 4:20 p.m.

“It’s a difficult course and the rain made it tougher. I’ll just do my best to come up with a good start,” said the Davaoeño shotmaker, adding that he didn’t feel any pressure being the lone Pinoy bet in the event put up by ICTSI and co-sanctioned by Pilipinas Golf Tournaments Inc. But Tseng, who honed his skills and talent in Japan, proved tougher in damp conditions, putting in a pair of 33s he spiked with a 24putt effort on the unreceptive, unpredictable greens.

Song Mengyu, joint fourth in the current TPGA Order of Merit rankings, shot a 69 to trail Tseng by three while Zhang Zepeng and American Tarik Can turned in identical 70s with Xie Jixian scoring a 71 in the event backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

ELITE EYE WIN NO. 2 VS. BROWNLEE, KINGS B LACKWATER guns for a 2-0 start when it tackles defending champion Barangay Ginebra in the Philippine Basketball Association Commissioner’s Cup on Friday at the Smart Araneta Coliseum.

The Elite debuted with 94-91 overtime win over the Meralco Bolts last Sunday with rookie Ray Parks Jr. proving his worth and import Alex Stepheson flexing his muscle down low.

The team could replicate the impressive start if it gets past the reigning titlist at 7 p.m. The Kings are back with resident import Justin Brownlee in the midseason tournament.

The Bolts (0-1), meanwhile, hope to bounce back with a match against Columbian (0-1) at 4:30 p.m.

Stepheson, a 6-foot-10 behemoth from California, scored 21 points and collected 31 rebounds to lead the way for Blackwater.

He was supported by the second overall pick Parks, who

GINEBRA’S dependable import Justin Brownlee is back.

had 20 points that went with eight rebounds.

Mike DiGregorio had 21 points, while Allein Maliksi added 12 points to help the Elite get the tough overtime victory.

Still adjusting with play in the local pro league, Parks promised to work harder to translate his efforts to more wins.

“We’re hungry for more wins. The firepower of the team is there. We just have to put it together and get used to playing with one another throughout the season,” Parks said.

Eager to make it two in a row, the Gin Kings parade anew the undersized Brownlee with hopes of launching another title run in the conference.

Now in his sixth appearance with Barangay Ginebra, Brownlee brings a lot on the table as he teams up with veterans Japeth Aguilar, LA Tenorio, Greg Slaughter and Scottie Thompson.

The Gin Kings won last year’s title against the San Miguel Beermen in six games. Ramon Rafael Bonilla

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Sary Cruz. The school, which is in Project 8, celebrated its 50th golden anniversary last year.

Sportsmen Elmer Ngo of Cherry Lume and Joel Agbanlog are sponsoring the team’s stint.

The team manager and head coach are Peter Cruz and John Mangulabnan, respectively.

Heading the basketball team is Art Johnson Cosa, who was named Athlete of the Year in Quezon City basketball tournaments.

The other members of the team are Eugene Batara, Allen Bryant Liung, Geremie Sanchez, Siegfried Llamado, Aaron Lumapas, Rowen Carl Icoy, Johnsper Tallod, James Rivera, Wilson Suayan and Windzel Ganada.

Rondina and Arellano University’s Regine Arocha will receive the Volleyball Players of the Year award in the annual event organized by the Collegiate Press Corps, which is composed of scribes from print and online outfits covering the National Collegiate Athletic Association and University Athletic Association of the Philippines.

The graduating hitter Rondina wrapped up her fifth and last playing year as a Tigress by completing an amazing three-peat in beach volleyball, giving UST its first gold medal in UAAP Season 81.

Rondina, Pons showcase skills in Boracay spikefest

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LL eyes will be on the Philippines’s exciting duo of Sisi Rondina and Bernadeth Pons as the main draw of the FIVB Beach Volleyball World Tour Boracay Open presented by Globe unfurls on Friday at the White House Beach in Station 1.

Reunited on the sand court, Rondina and Pons are going all out to improve the country’s best finish of fifth place in the Manila Open last year despite the tremendous odds.

“The big guns are here, the veterans. It’s our chance to get all the experience we need,” Rondina said.

The highly popular Rondina-Pons tandem debuted in the 29th Southeast Asian beach volleyball tournament in Singapore two years ago when the former collegiate rivals from University of Santo Tomas and Far Eastern University, respectively, made it to the quarterfinals.

“I’m excited to play for the first time in the World Tour. We will play out best in every match,” Pons said.

The fifth Philippine pair, Babylove Barbon and Gen Eslapor, bowed to Gerda Grudzinskaite and Karole Virbickaite of Lithuania, 17-21, 14-21, in Thursday’s qualifiers.

Other Filipina pairs competing in the 1-Star event organized by the Beach Volleyball Republic

are Dij Rodriguez and Bea Tan, Jackie Estoquia and DM Demontaño and Fiola Ceballos and Patty Orendain.

The young Lithuania pair rallied from a 9-11 second set deficit to complete the straight sets win.

Barbon found some positives in her Beach World Tour debut with Eslapor.

“It’s our first time—but I feel sorry the result wasn’t a positive one. But we learned so much from the match,” Barbon said. “They are tall, we stand just a little above their shoulders.”

Satono Ishitsubo and Asami Shiba, gold-medal winners in the 1-Star Manavgat Open in Turkey in June 2018, will banner Japan’s campaign, along with Sakurako Fujii and Minori Kumada, and Shinako Tanaka and Miyuki Matsumura.

Not to be outdone is Thailand, which is led by its young pair of Thatsarida Singchuea and Pawarun Chanthawichai, champions in the SMM Asian U21 Beach Volleyball Championships in March in Roi Et, Thailand.

Air Force’s Ranran Abdilla and Jesse Lopez will lead the country’s men’s campaign, which also includes collegiate standouts James Buytrago and Krung Arbasto and Cebu’s Mike Abria and Jade Becaldo.

Russia’s Maxim Sivolap and Artem Yarzutkin, who won the gold in the Kg Speu 1-Star tournament in Cambodia to go with a silver in the Siem Reap 2-Star in

Thailand last month, are the favorites in the men’s main draw, which also has SMM Asian U21 Beach Volleyball Championships gold medalists Phichakon Narathon and Phanupong Thanan of Thailand.

THE Philippines’s Babylove Barbon celebrates a point.

JRU gives Gonzales first victory in Filoil; Ateneo triumphs

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By Rick Olivares

EADING into the game against Emilio Aguinaldo College (EAC), Jose Rizal University (JRU) Heavy Bombers Head Coach Louie Gonzales continued to remind his team to keep their faith in the system and each other.

By game’s end, the Heavy Bombers chalked up an 84-78 win over the suddenly tough Generals, in the Filoil Flying V Preseason Cup on Thursday at the Filoil Flying V Centre in San Juan.

Down by two, 63-61, after EAC’s JP Maguliano scored on an undergoal stab and time down to 8:59 in the final quarter, JRU’s Thomas Vasquez drilled a triple to give his team the lead—one they would not surrender.

Vazquez’s trey ignited a 12-1 run that had the Generals— who dictated the tempo for much of the game—reeling.

EAC tried to get back in the game but consecutive turnovers and missed free throws hurt the Generals’ chances.

ST. PATRICK IN TAIWAN HOOPS AINT Patrick High School’ s basketball team, which won the Quezon City Athletic Association and Athletic Association of Private Schools, is participating in the Guang Sheng Basketball Cub in Taichung, Taiwan.

The school earned the right to represent the Philippines in the tough basketball tournament, together with another champion entry team from Korea. This is the first time that a team from the Philippines has been invited to the event.

Six other high-school basketball teams in Taiwan are participating in the tournament, which starts on Monday in a round-robin format, according to the school’s President

OLLEYBALL made its mark as one the biggest collegiate spectator sports in the country next to basketball.

With the sports’ impact and huge following, especially in the women’s division, it is just fitting that the best and brightest volleyball student-athletes share the spotlight with the collegiate basketball’s finest.

For the first time, a pair of volleyball stars will be feted in the Collegiate Press Corps Awards at the Amelie Hotel-Manila in Malate, Manila, on Monday.

University of Santo Tomas’s (UST) Sisi

Rondina delivered the España-based squad’s fourth sand-court crown in five years while bagging for herself four Most Valuable Player awards.

The 5-foot-6 Cebuana then turned her focus on indoor volleyball as she led the rookie-laden Tigresses back to the Finals for the first time in eight years in a showdown with a well-experienced Ateneo de Manila University side.

UST came a win away from ending a nineyear title drought but eventually bowed to the Lady Eagles in three exciting games.

Nevertheless, Rondina’s heroics all season long earned her the MVP award, UST’s first in 12 years, to become the second person to capture the highest individual recognition in beach and indoor volleyball on the same season since Far Eastern University’s Wendy Semana did the feat 11 years ago.

Arocha, meanwhile, delivered the goods when needed the most for the Lady Chiefs in NCAA Season 94.

Arocha played clutch in the Finals, leading Arellano University to a thrilling series comeback win over Perpetual Help to complete the Lady Chiefs’ three-peat and winning her second straight Finals MVP award.

Rondina and Arocha will be joined by the National University women’s basketball team (Award of Excellence), Ateneo’s Angelo Kouame and San Beda’s Javee Mocon (Pivotal Players), Lyceum’s CJ Perez and Adamson University’s Sean Manganti (Impact Players) in the awards night.

Gonzales sent in Ry de la Rosa with four to play and the long range sniper rifled in a trey from the left corner pocket while adding two free throws to give JRU its biggest lead of the game at 80-68.

The Heavy Bombers coasted the rest of the way to give Gonzales his first win. JRU is now 1-3 won-lost in the league.

“I took over very recently and we’re trying to fast-track a lot of things,” Gonzales said. “But one of the key things I am preaching is for everyone to believe in the system and each other.

What we are trying to build is our tiyaga and patience on both ends of the floor.”

JRU’s Agem Miranda top scored with 25 points, while Louise de los Santos added 16 and Ry de la Rosa 14.

EAC that sports a similar 1-3 record saw San Beda transferee Kyle Carlos lead the team with 17 points. The hard-working frontline of JC Luciano and Maguliano added 12 and 10 points, respectively.

In high-school action, Ateneo point guard Ian Espinosa hit a floater in the lane with five seconds left to lift the Ateneo Blue Eaglets to a pulsating 67-66 win over defending National Collegiate Athletic Association champion Mapua.

In the other juniors match, San Beda handed Lyceum of the Philippines University its first loss in four games after a convincing 82-68 win.

Titans play spoilers’ role in eliminating UST Tigers

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LSO-RAN Family Mart-Enderun eliminating Ironcon-University of Santo Tomas (UST) with a huge 81-74 win on Thursday in the Philippine Basketball Association Developmental League at the JCSGO Gym in Cubao, Quezon City.

Fighting for pride, the Titans weathered a huge fourth-quarter attack from the Growling Tigers to end their maiden campaign on a high note and finish with a 2-7 slate.

“They want to prove something and they accepted their roles for the good of the team,” Coach Pipo Noundou said.

Valandre Chauca carried Family Mart-Enderun with 31 points on a 5-of-9 shooting from beyond the arc, alongside five rebounds and two assists, while Marvin Hayes just almost tallied a triple-double with his 18 points, 12 boards and seven assists.

The Titans jumped on the Growling Tigers,

taking a 25-11 first-quarter lead and extending it to 19 numerous times in the third frame.

But Ironcon-UST rallied back behind Soulemane Chabi Yo, slicing the deficit to as low as four, 72-68 with 4:57 left.

That was when Family Mart-Enderun went to its starters as it responded with an 8-0 spurt to grab an 80-68 advantage courtesy of a Hayes lay-up with 1:09 remaining.

The Growling Tigers’ shock loss sent them out of the playoffs and gifted Saint Clare College Virtual Reality the No. 2 seed, which comes with a twice-to-beat advantage, in the Aspirants Group. Che’Lu Bar and Grill also booked the No. 4 seat in the process.

Chabi Yo’s effort of 25 points, 14 rebounds, and three blocks went down the drain as Ironcon-UST bowed out of the tourney.

Mark Nonoy got 18 points, four assists, and three boards as the Growling Tigers finished sixth due to owning the inferior quotient in the five-way tie.

EWAN RULES STAGE, CONTI STAYS IN PINK F1 drivers share fond memories of Niki Lauda

Sports BusinessMirror

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| Friday, May 24, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

AUSTRALIA’S Caleb Ewan sprints ahead on his way to win the 11th stage of the Giro d’Italia on Wednesday. AP

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OVI LIGURE, Italy—Caleb Ewan of Australia sprinted to victory on the 11th stage of the Giro d’Italia on Wednesday, while Italian cyclist Valerio Conti remained the overall leader.

Ewan, who rides for Lotto-Soudal, edged out Arnaud Demare and Pascal Ackermann in a bunch sprint at the end of the entirely flat 221-kilometer route from Carpi to Novi Ligure.

“My team did a great job to keep me in position in the final 30 kilometers,” Ewan said. “I think Pascal went a little bit too early. I waited, bided my time and when I felt ready I went.”

It was the second victory at this year’s Giro for the 24-year-old Ewan, who also won the sprint at the end of the eighth and longest stage on Saturday.

“I came here to get one win so to get two really exceeded my expectations,” said Ewan, who also won one stage in 2017.

Conti remained one minute, 50 seconds ahead of Slovenian cyclist Primoz Roglic, who is one of the favorites, and 2:21 ahead of Nans Peters of France.

It was a second successive entirely flat route before the Giro heads into the Alps for Thursday’s 12th stage. The 158-kilometer route from Cuneo to Pinerolo includes the first category one climb of this year’s race, when it heads up to Montoso.

“It was a long and sunny stage. So I enjoyed it very much,” Conti said. “Tomorrow it’ll be harder to keep the jersey because the main climb is a hard one. But I want to keep the Maglia Rosa tomorrow also.”

Conti has worn the pink jersey since finishing second on Thursday’s sixth stage.

The Giro finishes in Verona on June 2.

Arnaud Demare, meanwhile, will swap his red, white and blue Groupama-FDJ kit for the arguably slightly less tasteful maglia ciclamino for Thursday’s stage, having taken over the lead in points competition from Pascal Ackermann on Wednesday.

Démare had gone into stage 11 a single point behind the German road race champion, but took two points and the competition lead at the stage’s first intermediate sprint, while at the finish—although Démare couldn’t overhaul stage winner Ewan (Lotto Soudal) in the finishing sprint for the line—he took second place, one place ahead of Ackermann, to finish the day with an 11-point lead in the points competition.

“The turning point really came with my win on Tuesday,” Démare told L’Equipe, “after I’d started to become...not more aggressive, but a bit more insistent about what I wanted to do. It’s just a bit of a shame that it took me until stage 10 to raise my arms.

“But we’re satisfied,” the 27-year-old continued.

“We’ve achieved our goal to win a stage, and have also taken the maglia ciclamino, which we’ll do everything to defend as we head into the mountains. That’s not going to be easy in terms of making the time limit each day, but hopefully there’ll be another opportunity to go for a stage win next week [stage 18].”

Ackermann had been unable to challenge Démare for the win on Tuesday after crashing in the final kilometer of stage 10. Although he could finish the stage and came away with only cuts and bruises— and a torn purple jersey—Démare had hoovered up maximum points at the finish line, while the 25-yearold added none.

“First of all, respect for Pascal’s performance,” said Bora-Hansgrohe sports director Jens Zemke of Ackermann’s third place on Wednesday’s stage. “He was able to yet again sprint to a podium place, despite his heavy fall on Tuesday. That shows that our guys rode very valiantly on today’s stage. We also had two riders that crashed, in Cesare Benedetti and Jay McCarthy, but they appear to be OK for now.

“Despite that, the guys were fully motivated to do their job and bring Pascal into a good position. The fact alone that he was willing to take the risk of mixing it up at the front for the stage victory deserves our full respect.

It’s a shame that we lost the jersey, but perhaps there will be other chances to get it back,” he said. AP

Game publisher forms college eSports body L OS ANGELES—A month after the NCAA voted to table a discussion regarding eSports, “League of Legends” publisher Riot Games launched a governing body for its college and high-school competitive video-game activities.

The Riot Scholastic Association of America (RSAA) will feature a six-member advisory board that oversees all League of Legends college competition, the company announced on Wednesday.

League of Legends is the world’s most popular eSport, and more than 80 colleges already have official LoL teams. This season’s League of Legends College Championship is set to begin on Thursday. Collegiate LoL competition did not previously have a governing body, although Riot did have employees who worked with schools and conferences to operate LoL competitions.

The NCAA board voted April 30 to push back its ongoing conversation regarding eSports. The organization has been lukewarm on competitive gaming, with NCAA President Mark Emmert citing “hugely misogynistic” and “violent” content among his concerns in January.

With the NCAA dragging its feet, Riot decided to push ahead with its own body.

“We want to take a more proactive role in working with schools and other stakeholders to ensure that it meets more than just Riot’s needs,” Riot college eSports boss Michael Sherman said in a statement. “As a publisher-backed governing body, we have the resources to continue investing in college League of Legends without the need to charge membership fees, raise outside capital or chase down challenging/nascent business models, meaning that we can focus on the long-term sustainability of the sport.”

Collegiate eSports have become common in recent years at schools of all sizes.

The Big Ten Conference has its own LoL championship, and many smaller colleges have used eSports programs as a recruiting tool for prospective students.

Top-level eSport competitors routinely turn pro as teenagers, so collegiate gaming is less of a pipeline than in traditional sports. It’s unclear how Riot will address players’ abilities to earn money off Twitch streams and other avenues.

The RSAA board of advisors includes officials from universities, conferences and conference networks. The RSAA will only govern LoL competitions and not games created by other publishers.

Five states have already sanctioned LoL as a varsity high-school sport with state championships. AP

FLAGS fly at half-mast outside the Ferrari Museum in Maranello in Modena, Italy. AP

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ONACO—Sharing their memories of Niki Lauda, Formula One (F1) drivers spoke fondly of the former champion’s straight-talking manner and the “amazing” legacy he left by overcoming a lifethreatening crash.

Lauda died on Monday at the age of 70, less than one year after a lung transplant. The Austrian won two of his three F1 titles after coming back from a horrific crash that left him fighting for his life in a burning car at the German Grand Prix in 1976.

He remained an influential figure in F1, and after receiving his lung transplant last August he spoke about how much he appreciated receiving a hand-written letter from Ferrari driver Sebastian Vettel wishing him well.

Speaking at the Monaco Grand Prix on Wednesday, four-time F1 champion Vettel recalled the impression Lauda made on him.

“You don’t come across people like him very often, not just inside Formula One but in general. He was a

KYLE KILPONEN (center), in 2017 a senior and coach for the competitive League of Legends team, prepares for team tryouts during a gathering of gamers in the Communication Arts and Sciences building on the Michigan State Campus in East Lansing. AP

unique person,” Vettel said. “I feel extremely privileged I had the chance, not just to know him, but to chat with him regularly.”

“His sense of humor was very straight [direct],” Vettel added. “Sometimes you couldn’t tell whether it was a joke or just a statement.”

Lauda won 25 F1 races, secured 25 pole positions and 54 podium finishes as a methodical yet deceptively smooth driver. He won the F1 drivers’ championship in 1975 and 1977 with Ferrari and in 1984 with McLaren.

He remained closely involved with the F1 circuit after retiring as a driver in 1985, in recent years working as a nonexecutive chairman for Mercedes.

He notably played a key role in persuading British driver Lewis Hamilton to join Mercedes from McLaren in 2013, which proved an overwhelming success. Hamilton has won four of his five F1 titles driving for Mercedes and the Silver Arrows have won every drivers’ and constructors’ championship since 2014.

Hamilton was scheduled to attend Wednesday’s F1 news conference, but was given dispensation by governing body FIA to miss it under the circumstances. Teammate Valtteri Bottas, who joined Mercedes two year ago, attended and spoke of Lauda’s impact at Mercedes.

“He meant a lot to me and every single team member.

He was a massive motivation for everyone,” Bottas said. “I’ll never forget many good moments.”

Lauda was known well beyond F1, and even the world of sport itself, after his brush with death 43 years ago.

The Austrian driver was leading the 1976 F1 championship when he almost died crashing at the German Grand Prix’s treacherously tough 14-mile Nuerburgring circuit on August 1. He had urged fellow drivers to boycott the race but a vote went against him.

After he lost control at a turn early on, his car burst into flames, and he was trapped in the scorching cockpit until four drivers and race stewards helped get out.

But Lauda had suffered third-degree burns to his head and face that left him scarred for life, lost most of his right ear, and inhaled toxic gases that damaged his lungs. His condition was so bad that he received the last rites at the hospital.

But Lauda returned to the circuit 40 days later—having missed just two races—and finished fourth at the Italian GP. He even endured further pain after that race, having to rip off his balaclava as it stuck agonizingly to the blood-stained bandages on his head.

“The legacy he leaves is amazing,” said Renault driver Daniel Ricciardo. “It was astonishing to say the least.”

Williams driver Robert Kubica, who needed seven hours of surgery to save his right hand after a rally accident in 2011, paid his own tribute.

“My hopes were to meet him, but unfortunately, it won’t happen,” Kubica said. “He wrote a big chapter in this sport, not only as a driver.” AP

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Just God

EAR God, You favor those who choose life and bring peace. Hear us as we pray with love: Oh God, in Your mercy, come to our aid. Dispel ignorance and false statements that breed fear, division and hatred. Prosper efforts to counsel and provide health care for expectant teenagers, women in crisis pregnancies and youth at risk. Help us to stop practice of torture, greed and oppression. May God bless us with generous and loving hearts, through Christ, who gave His life for us so that we might live forever in His love. 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

James McAvoy in the ‘Dark’

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N X-Men: Dark Phoenix, the highly anticipated culmination of 20 years of X-Men movies which opens on June 5 in Philippine cinemas from 20th Century Fox, the X-Men face one of their gravest and most personal challenges to date.

It is the 1990s, and even as the team attempts to embrace a newfound heroic status and acceptance within society, their close bond is about to be shattered when Jean Grey (Sophie Turner) merges with a strange, extraterrestrial force, one that boosts her already strong abilities to previously unknown levels. Years of repression are torn asunder as Jean begins to find herself and master her new powers, even as those around her start to wonder if she’ll be a threat to the world, and a mysterious alien with an agenda (Jessica Chastain) exerts an influence.

James McAvoy returns once again to play the role of Charles Xavier, the leader of the X-Men. A paternal figure whose ego is inflating as his team’s reputation has grown, he’ll have the hardest time adapting to Jean’s changing powers, especially given his history repressing them. McAvoy here talks what brought him back, working with Simon Kinberg as a director, and whether he is jealous of his colleague’s superhero suits.

The legacy cast are coming back. What prompted you to return?

I think a combination of things. We all enjoy

playing these characters—I know I do. I’ve always enjoyed being in these X-Men films. I love this company of actors. And the crew, I’ve got to say, from people like Hutch Parker, our producer; Simon Kinberg, our writer and now director; Josh McLaglen, our first AD/producer. There’s a massive extended family that goes back nearly 10 years that you feel very loyal to. And it’s also the character that I feel loyal to, getting to take Charles forward and do something else with him as well, it just feels right. So that’s what brought me back.

Where do we find Charles?

Whereas formerly he was maybe a figurehead or a leader of a social movement, he’s now a figurehead and a leader of a political movement, and I think that’s how he regards himself, as well. One of the interesting things he does is, he justifies what he’s doing because he can say that he’s being loyal to his principles, but I think he’s forgotten that those principles only exist to protect the people he should be loyal to. That’s his family, and that’s his kind, his species, and he’s sort of forgotten that.

I think he’s put himself at the front of it all, seen himself as the torchbearer, being the friendly face of mutanity for humanity. He’s justified what his ego is making him do, becoming the center of attention.

And if you go back to First Class, that’s something I tried to put into him, as a bit more of a self-centered

person. The thing that was always more interesting about Charles is he’s selfless, his vanity is very low, he’s very wise, his empathy rules him, and his selflessness and almost priestly nature is what defines him, his need to help others. So, in First Class, while not making him evil or bad, we tried to make him a bit more self-centered or self-obsessed. And that kind of disappeared in the intervening two movies. It’s sort of come back here, which I really like; I really enjoyed exploring that fallibility.

He’s separating a little from his support system.

I don’t think he realizes he’s doing that. I don’t think it’s his goal. But where Charles has always been about the emotional and personal and the psychological, he’s gone more macro, he’s more worried about legacy and he’s more worried about politics and things like that.

He’s not being true to who he’s always been, and that does call him into conflict with his longtime not just allies but friends. You take somebody like Hank, who has been his crutch for decades now...people go on about Magneto and Charles, but Hank has run his life. He’s been all sorts throughout the years, and we always think it would be good to have a little Odd Couple-style side series about what Hank and Charles get up to in the X-mansion, this weird, dysfunctional relationship they have.

SOMETHING LIKE LIFE: THE RISE AND FALL OF DAENERYS D3

Friday, May 24, 2019

D1

Simon is director this time. How was it working with him?

By the time Simon took over and directed Dark Phoenix, he’d already been working with us as a writer/ director/producer in some capacity. He’d always been very collaborative about the screenplay, if we had ideas to tweak things, lines or even just whole character arcs, he would sometimes, at one end of the spectrum, completely redesign a character arc and, at the smaller end, let us flip lines in and out. Then, also on the days if he had an idea for a moment here or there, we were very comfortable with Simon giving us a bit of direction to augment what was already going on. It did feel extremely natural when he slid in to the director’s chair for this movie. What was interesting was that his natural instinct was to pare down, rely on the acting. Still going for spectacle, but to pare down some of the more primary colors and make them more nuanced shades of colors—that was his way to do it. To strip it all back, keep it real, go for the drama, as well as the crash, bang, wallop, but definitely go for the emotional drama.

Grounded seems to be the buzz word this time.

If you’ve got characters that you’re interested in enough, and who are extreme enough, the acting and the story can be your special effect.

Continued on d2

D2

Society BusinessMirror

Friday, May 24, 2019

www.businessmirror.com.ph

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Joey Logano, 27; Mark Ballas, 31; John C. Reilly, 52; Bob Dylan, 76.

HAPPY BIRTHDAY: You will learn from watching and observing what others do and how they react.

Take comfort in seeing and knowing that life itself isn’t complicated; it is people who make situations problematic. Stick to the truth and honor your promises, and life will run smoothly. Any unexpected changes should be treated as a signal to make the most of whatever transpires. Your lucky numbers are 3, 14, 22, 27, 31, 39, 41.

FROM left: Wolfgang’s Steakhouse Philippine Partner Leina Bolinas, Trixie and Chris Monteron, and Wolfgang’s Steakhouse Philippine Partner Chloe Dauden.

FROM left: Mike Santos, Wolfgang’s Steakhouse Philippine Partner Raymund Magdaluyo, Marvin Agustin, Leeroy New and Ton Manlongat.

Happy Hour gets an upgrade T HE Happy Hour gets an upgrade, no small thanks to the newest drinking place in Bonifacio Global City: Wolfgang’s Steakhouse BGC Bar at One Bonifacio High Street.

After opening its doors to food enthusiasts on the lookout for a filling gastronomic experience, Wolfgang’s Steakhouse by Wolfgang Zwiener Bonifacio Global City kicks off the evening with its Happy Hour Bar menu that’s sure to satiate with delectable bites and specialty cocktails for that much-deserved night cap.

At the launch of the newest bar menu, guests in attendance got first dibs at sampling the newest bar offerings, including their Katsu Steak Sandwich, a US Department of Agriculture (USDA) Prime Filet Mignon Cutlet prepared Japanese-style, and served with Potato Chips

and Tonkatsu Sauce; Truffle Fries topped with Parmesan Cheese; and for those who prefer seafood, the Seafood Taster (Tuna Tartar, Lobster Salad and Jumbo Shrimp Cocktail) and fresh oysters.

Attendees also got to try the delectable Crostini Sampler (Tuna Tartar, Salmon and Crabmeat) and Steak Crostini along with the USDA Prime Dry-Aged Salpicao, which got guests asking for more.

Seen in attendance were Charmaine Palermo, Elmer Lapeña, Chris Johnson, Jordan Mouyal, Marvin Agustin, Brian Poe Llamanzares, Trixie and Chris Monteron, Shine and Jenica Kuk, Trish Ramos, Raiza Poquiz, Rovilson Fernandez, Carla Piscoso, Rubie Gynn, Marline Capones, Mauro Lumbao, Jose Villablanca, Stephen Near, Shauna Popple, and Isabel Francisco, among others. n

WOLFGANG’S Steakhouse Marketing Manager Trisha Lok, Bolinas, and Wolfgang’s Steakhouse Marketing and Operations Officer Kyla Frencilo.

Could this be the last time?

Every single one we’ve done has felt like it’s the last one we do. As an actor, I’ve pretty much only in the last five or six years started to think, “Maybe it isn’t the last time I’ll ever

c

GEMINI (May 21-June 20): You will come up with a remarkable idea if you use the mistakes that others make as the basis for your plans.

Live and learn, and you will surpass any competition you meet along the way. Romance is highlighted. HHH

e

LEO (July 23-Aug. 22): Stay focused on work and doing what’s expected of you.

Maintaining your status quo by taking care of your responsibilities on time will be essential. An evening with friends, relatives or someone you love will calm your nerves. HH

f

VIRGO (Aug. 23-Sept. 22): Participate in events that will take you in a new direction.

Use your intelligence and your insight to help you turn whatever you do into something of value and good quality. Don’t be afraid to do things your way.

HHHHH

g

LIBRA (Sept. 23-Oct. 22): As long as you don’t go over budget, you should be able to follow through with your home improvement plans. Choose quality over quantity and you won’t be disappointed. An opportunity to visit someone will lead to an unexpected promise. HHH

Jessica Chastain is the new arrival this time. You have worked with her before. How much did you get to interact?

I think we had only one scene together...unfortunately!

Actually, I had a couple scenes with her character, but she wasn’t always there, sometimes it was a special effect.

One of the reasons she said she took the job was she was looking forward to hanging out and acting with me again, and then we barely crossed paths! I remember us being a little bit pissed off at the whole thing. But she’s an amazing actor and as much as she’s got this very serious actor’s reputation— she is, she does it brilliantly—she’s a lot of fun on set. She can do it and still have fun, which I really, really appreciate.

Also, we’re a big family, we’ve been going a long time and we all get on really well; somebody coming into that might not just slide in there, but she became part of the crew.

The cast seems to be better behaved this time...

On Apocalypse and this one, we were better behaved. I think we tried to make the movie in a shorter time period than ever before. And we all realized that this was Simon’s first film as the actual director, and so we all wanted to show up for him and work as hard as we could. I think that gave us a renewed focus. And just to have someone new in the chair might do that anyway, but he’s part of the family, so we all wanted to bring it for him.

TAURUS (April 20-May 20): You’ll find it difficult to separate your emotions from your job. Try not to let your work suffer due to a secretive situation. Your inability to get things done will arouse suspicion that could be damaging. HHH

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Continued from D1

Sophie has said they were two pranksters on set.

Yeah, I was the subject of some of that! There’s a bit where my body is being controlled by Jean Grey, so to achieve that, they put me on wires, and they would pull my body around. Those two had a lot of fun with that and an iTunes version of the Macarena!

b

CANCER (June 21-July 22): Let your creative side take over and you will come up with ample ideas to help you take care of your responsibilities quickly so that you can move on to more enjoyable pastimes. Keep your life simple and practical.

HHHH

James McAvoy in the ‘Dark’ “IT’S the character I feel loyal to, getting to take Charles forward and do something else with him as well, it just feels right. So that’s what brought me back,” says McAvoy about returning to X-Men: Dark Phoenix.

a

ARIES (March 21-April 19): Personal improvements will lead to gains. Improving or updating your appearance, mastering a creative skill or enhancing your chances to get ahead will all be worth your while. Romance and talks regarding a personal relationship are favored. HHH

h

SCORPIO (Oct. 23-Nov. 21): Friendships will grow if you share your thoughts and feelings. Plans can be made that will encourage you to explore unfamiliar territory. Look at your alternatives and the costs involved to make the changes you desire before moving forward. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): A steady pace and plenty of common sense will be required if you want to keep up and finish what you start. Taking on responsibility comes with a commitment to deliver what you promise. HHH

j get to act again.”

So, in terms of X-Men, I’ve always gone, “If this is the last one, it’s been great.” We’ve got new owners for the franchise, and who knows what they’re going to do. But if this is the last one, it feels, narratively speaking, like a good end.

It feels, at least the four films we’ve done over the last decade, like it ends up well and you’d be happy to walk away at this point. And I’m certainly happier to walk away at this point than I would have been at any other point.

You don’t really get to suit up like the others. Are you jealous?

I am, a bit. I’d like to wear a daft superhero suit. And, this time around, they were quite sparse and practical I thought.

But I generally like to get suited and booted in the stuff. Even when it’s uncomfortable, it’s worth it. I’m slightly jealous. I do get my in-the-field look with a turtleneck, which I rather liked.

There’s a reference in the trailer to the speeches Charles makes and how Michael Fassbender’s Erik is sick of it. Is that poking at the tropes?

I don’t think it’s poking fun at it, but it might be by nature because Simon is trying to make something that is a little bit the antithesis to some of the tropes that you always get and make it more grounded.

I don’t know, I think it was more character stuff between Charles and Erik, because they have had this argument so many times. Which is essentially, “There’s good in this person, I’ve got a messiah complex, please let me try and save the person at great risk to the greater public.” And Erik being much more pragmatic and clinical, saying, “Let’s just cut the problem out.” And so, Erik is just saying, “Let’s just not do this again. We’ve done it for years, so cut to the chase and get the fight on!” n

CAPRICORN (Dec. 22-Jan. 19): Put some muscle behind the alterations you want to make at home. When all is said and done, you will enjoy relaxing with someone who pitched in and helped. Don’t let anyone make you feel guilty for doing what you want. HHHHH

k

AQUARIUS (Jan. 20-Feb. 18): Any chance you get to work alongside someone you find energizing and inspirational will also motivate you to make changes to the way you look, as well as to where and how you live. HH

l

PISCES (Feb. 19-March 20): Show how creative you can be. Use old ideas and methods in order to come up with something new and trendy. A unique way of marketing what you have to offer will encourage someone influential to take note. HHHH BIRTHDAY BABY: You are playful, understanding and respected.

You are progressive and benevolent.

‘stop order’ BY TIM SCHENCK The Universal Crossword/Edited by David Steinberg

ACROSS 1 Intensifies, with “up” 5 Happy-sounding building support 10 Economist Smith 14 In ___ of 15 Black ___ (deadly biter) 16 “Forbidden” perfume 17 Kind of appeal 18 Religious houses 20 Salve 22 Crows’ homes 23 They have their pluses and minuses 24 Hats, slangily 26 Classified work notice?

29 Sun shade 32 Glorify 33 Animal known for its laugh 34 Spot on a die 36 Gel-producing succulent 37 Peter, Paul or Mary 38 Striped candy shape 39 Sleep study topic, briefly 40 Eschews 41 Care for 42 Beekeeper’s injury

4 How grapefruit may taste 4 45 Landlord’s due 46 O. Henry’s The Gift of the ___ 47 Hitching post?

50 Bedtime drink 54 On the throne 57 “My bad!”

58 Timbuktu’s land 59 Idiot 60 Strummed instruments, for short 61 On ___ (without a contract) 62 Knight’s ride 63 TTYL or TTFN DOWN 1 The Sun ___ Rises 2 Small M&Ms size 3 Lowly laborer 4 Not obvious 5 Loom 6 Cows’ abodes 7 Discharge, as light 8 Blood-typing letters 9 Cover with graffiti, say 10 Bear witness 11 Honoree’s spot

2 Help with a job?

1 13 Rumple 19 Ink type that’s also a country 21 Castle defense 24 Property claims 25 “___ that special?!”

26 Become tiresome 27 Wheelturners 28 Model Campbell 29 Competing 30 Eyeball-bending works 31 Dentist’s directive 33 What ghosts do 35 ___ pressure 37 Knee-ankle connector 38 “Enough!”...or how to make sense of each starred answer 40 Back of a boat 41 Approaching, in poetry 43 Calamitous 44 Assisted at checkout 46 Chop finely 47 Treaty subject 48 Ballet move 49 Mah-jongg piece

0 Zero key neighbor 5 51 Share a ___ (soda slogan) 52 Culminating point 53 (Hey...over here!)

55 Driver’s license and others: Abbr.

56 Egyptian boy king

Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, May 24, 2019

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It is finished: The rise and fall of Daenerys IN the highly contentious finale of Game of Thrones, Daenerys Targaryen (Emilia Clarke) gets her comeuppance.

SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

S

O now our watch has ended. Literally.

After nine years, Game of Thrones is over, and we must return to our sad reality where heroes, unfortunately, do not take chances, however slim, to rid the world of evil wights, and mad messianic dictators.

It was a great run for the HBO TV series—even if the later seasons started departing from the books’ storylines (A Song of Ice and Fire). I was a fan of the anthology—I went on until fifth book (A Dance with Dragons)—but stopped reading as I was already getting my storylines confused, since I was also a fan of the cable TV show.

Not many people were too fond of the ending, I gather from my readings all over the Internet.

Although I agree that, yes, the conclusion seemed to have been a bit hurried...well, considering there were just six episodes in this last season, that’s not surprising at all. After Arya killed the Night King, the best episode of the season (I watched it three times and still don’t get tired of watching it despite it being too difficult to watch on my not-so-LED TV), it seemed to go downhill, with a mad rush to kill off a number of major characters every episode.

Not that I disliked the last episode. Eventually, if one looks back on how the series began, it was not just about who was going to secure the Iron Throne, but it was really a story about the Stark family. It was very Downton Abbey, that is, soap-opera-ish, but in a fantasy setting. The members of the noblest of Houses in all the kingdoms (and, yes, including Arya despite having killed all those people—there was a purpose to all that) didn’t exactly look like they were going make it to the end.

One by one, the family members were decimated, starting with Lord Eddard Stark, whose head was chopped off in the first season; Robb and his mother Lady Catelyn slayed at the Red Wedding in Season 3; Jon Snow—the Stark children’s supposed halfbrother from another mother—lying on the snow, his insides leaking out after being gutted by Night Watchmen in the Season 5 finale (he is resurrected by Melissandre, the high priestess of the Lord of Light

in the sixth season); and the youngest Stark, Rickon, felled by Ramsay Bolton’s arrow at the Battle of the Bastards in Season 6.

But they do, most of them anyway, make it out alive. The conclusion—that Bran the Creepy, err, the Broken was elected by representatives of all the great Houses to lead the Seven Kingdoms—ties up nicely with his beginnings as just a boy pushed out a window

by Ser Jamie Lannister for having witnessed the nasty goings on with his sister, Cersei.

Who would have thought this little nondescript child would eventually rise to become the all-knowing Three-Eyed Raven and the King? We must all thank Ser Jamie for helping little Bran fulfill his destiny.

From Kingslayer to Kingmaker...that’s quite a feat. (It does slightly echo the Judas story, whose treachery helps Jesus become the Savior of the World.)

And the Starks are able keep Winterfell as an independent kingdom, thanks to Sansa’s determination. Her story arc was the most predictable, I think. You just know after being abused, raped and molested, she would get her just reward in the end. At the beginning of this last season, I even

thought she might end up being Queen of the Seven Kingdoms after how most of the female characters in the show evolved eventually.

Arya going off exploring the rest of the world was also a fitting conclusion to her character. She may not have been royal lady material, but her spunk, impudence and skill helped push forward a number of storylines, and was the perfect foil to several key characters on the show. The unexpected hero of the Long Night deserves to see the world she helped save.

Jon, the true heir to the Iron Throne, finds the courage to slip a dagger through the heart of Daenerys, his sweetheart (and aunt—ewww!), to prevent an even bigger catastrophe than the world coming under the Night King’s rule. It was a dastardly deed that had to be done, and only he could have accomplished it. (And please spare me your post-postfeminist analysis about how this show depicts how women can’t ever be ambitious, or are destroyed. The girl went cray-cray. She had to be stopped!)

Jon’s return to the Night’s Watch, then rejoining the Wildlings, is probably the best ending one could hope for this character. (Still, curses on Grey Worm

and the Unsullied for sending him there. I hope their ships sink on the way to Naath!) He didn’t want to be King of the Seven Kingdoms right from the start anyway, even though his bloodline showed he had every right to claim it.

Tyrion Lannister—who at one time I also thought should have a shot at being King—lays the foundation for a parliamentary system of sorts for Westeros.

The throne is no longer an automatic family succession, so no danger of political dynasties there.

The King or Queen will have to elected among the ruling houses. (Poor Samwell Tarly...his suggestion for democratic elections was laughed off! Says a lot about how the show’s writers feel about rising populism in our free world, and the recent election of idiots and assholes to power.)

I’m not at all depressed that GoT is finished. I’m on to my next series—nothing new, just the original Will & Grace on Netflix with dated references, but still biting and hilarious as hell. I’m just glad no more girl babies will be named Daenerys now that the show’s over.

The end. n

The ‘sharenting’ trap MOST of us share so much of ourselves and our lives online—and parents are no different. With today’s moms and dads being more Internet-savvy than ever, it’s not surprising to see many posting about their children (even before they’re born) regularly. This predilection, and sometimes over enthusiasm, to share has been referred to as “sharenting.”

The constant documentation of our kids is so prevalent that it’s been normalized—but the thing is, it shouldn’t be. If you’re part of this trend, you should realize that you’re creating a digital footprint for your child way before he or she has any say about it, and that digital identity is going stay whether he or she likes it.

It’s easy to forget how these can be potentially harmful in the future, what with your overwhelming feelings of pride and joy.

Time for a reality check. Here are four ways sharenting online might put your child at risk, and why you should think twice before posting all those baby pics. n SHARING ONLINE CAN INVADE YOUR CHILD’S PRIVACY. Parents are in effect taking control of their child’s digital identity, without their consent. Those funny bath time snaps and other sensitive photos may impact their future social lives (sure, you think it’s cute now, but that isn’t you in the embarrassing photo), and even employment, and undermine their trust in you. n YOUR CHILD’S IDENTITY CAN BE STOLEN. There’s been quite a number of digital kidnapping incidents in recent years. It’s a kind of identity theft that happens when another person takes the photos of a child from social media, creates a new name and identity, and then claims the child as their own. n ONLINE PREDATORS COULD COME AFTER YOUR LITTLE ONE. You need to be extra careful before sharing any kind of information about your child.

Online predators are adult users who seek to exploit vulnerable children for sexual or other abusive purposes. They can get your kid’s photos and videos, and post them on child pornography web sites and

ATTY. Oscar P. Palabyab

TEAM PHILS CONFERENCE IN BATANGAS

other disturbing forums. n YOU CAN’T TAKE ANYTHING BACK. Once posted, those photos of your child will always be out there on a server. Even if you do tighten your privacy settings, anything shared online can, with a few indiscreet clicks, become public property.

It’s understandable to want to share about your kids; just be cautious about it and keep in mind the implications it might have on their future. It’s great to find a safe space that guarantees your privacy and, equally important, your children’s privacy like Viber. As one of the country’s top communications apps, Viber prioritizes its users’ data privacy to allow everyone to connect and share securely.

Its end-to-end encryption security measure

basically means that anything you send becomes coded and stays that way until your intended recipient gets it. No one else—not even Viber—can read any of your messages or see any of your photos and videos.

Viber’s security features give you full control over your data—you can delete messages any time and even add an extra level of privacy through the Secret Chats, which allows users to set a time limit on individual messages and control how long they are visible to the recipient before they disappear.

As Viber helps you connect and build stronger relationships with your loved ones here and around the world, the communications app continues its efforts in securing your privacy and security so you can share freely.

THE Tourism Educators and Movers of The Philippines (TEAM Phils) Calabarzon Chapter 1 Students Convention was held recently at the Lyceum of the Philippines, Lipa City, Batangas. The event was themed “Connecting the DOTs and Borders in Hospitality and Tourism.”

The one-day confab revolved around a discussion on the latest trends and issues in the industry today, particularly those concerning MICE, medical and health tourism, and industry work force attitude and values.

Shown in photo is keynote speaker and former Tourism Undersecretary Oscar Palabyab discuss of “connecting the DOTs for a Successful Philippine Tourism Strategy” before the 600 students from Calabarzon, Central and Northern Luzon universities. Dr. Robert Lim Joseph, TEAM Phils national president, welcomed and gave an inspirational talk to the participants. Other resources speakers were former Tourism Undersecretary Alma Jimenez; Deedee Ledonio, events, convention and exhibition expert; Angel Ramos Bognot, MICE expert and premier travel entrepreneur; Norelyn Baviera, vice president of Fiera de Manila Philippines Inc.; and Zander Kim Sigua, founding president of the League of Tourism Students of the Philippines.

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Show BusinessMirror

Friday, May 24, 2019

www.businessmirror.com.ph

THE cast of Kadenang Ginto (from left): Beauty Gonzalez as Romina, Francine Diaz as Cassie, Albert Martinez as Robert, Andrea Brillantes as Marga, Dimples Romana as Daniela and Adrian Alandy as Carlos.

ELISABETH MOSS

‘THE HANDMAID’S TALE’ SEASON 3 PREMIERES WITH THREE EPISODES ON JUNE 6 THE third season of The Handmaid’s Tale will premiere with three episodes on June 6 in Asia exclusively on HBO GO. A new episode of the 13-episode third season will premiere every subsequent on Thursday.

Winner of 11 Emmy Awards for its previous seasons, including Outstanding Drama Series and Outstanding Lead Actress in a Drama Series (Elisabeth Moss) in 2017, and winner of two Golden Globes in 2018 for Best Television Series-Drama and Best Performance by an Actress in a Television Series-Drama (Elisabeth Moss). Catch up on all episodes of the past two seasons anytime, anywhere on the streaming platform.

The third season of The Handmaid’s Tale, is driven by June’s resistance to the dystopian regime of Gilead, in which she finds herself once again after opting not to flee to Canada with her baby at the end of the second season. Now, she will struggle to fight back against the regime against “overwhelming odds.” Startling reunions, betrayals, and a journey to the terrifying heart of Gilead force all characters to take a stand, guided by one defiant prayer: “Blessed be the fight.”

Season three’s cast sees the return of Moss, Joseph Fiennes, Yvonne Strahovski, Alexis Bledel, Madeline Brewer, Amanda Brugel, Ann Dowd, O-T Fagbenle, Max Minghella, Samira Wiley and Bradley Whitford.

The drama series, based on the award-winning, best-selling novel by Margaret Atwood, is the story of life in the dystopia of Gilead, a totalitarian society in what was formerly part of the United States. Facing environmental disasters and a plunging birthrate, Gilead is ruled by a twisted fundamentalism regime that treats women as property of the state. As one of the few remaining fertile women, Offred (Elisabeth Moss) is a Handmaid in the Commander’s household, one of the caste of women forced into sexual servitude as a last desperate attempt to repopulate a devastated world. In this terrifying society where one wrong word could end her life, Offred navigates between Commanders, their cruel Wives, domestic Marthas, and her fellow Handmaids—where anyone could be a spy for Gilead—all with one goal: to survive and find the daughter that was taken from her.

ALDEN RICHARDS warmed the hearts of the audience.

Going for the ‘gold’ GAB FAB JET VALLE

@jetvalle

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BS-CBN soap opera Kadenang Ginto is a consistent top-rater in its afternoon timeslot. When it started, the catfights of its female leads, Dimples Romana and Beauty Gonzales, and the intense scenes involving the characters of Albert Martinez and Adrian Alandy were always being talked about.

But giving more than their fair share to the success of the show is the young cast of Kadenang Ginto.

Composed of Andrea Brillantes, Francine Diaz, Kyle Echarri and Seth Fedelin, these young actors have touched the younger market (especially now that it is summer and school is out) and they are now loyal followers of the show. Proof of this is its massive success online as its daily highlights on YouTube hit over 800 million views, with almost each video reaching more than one million views. The series is also a major hit on iWant as it topped the list of most-watched programs on the streaming service last month, earning over 1.5 million views.

Its success has also translated on social media to young people as the series spurred countless of memes that netizens enjoy. Some even make their own versions of iconic confrontations.

Such is the power of Andrea, Kyle, Seth and

Francine that Dreamscape Entertainment will launch them as “The Gold Squad.”

They are packaged as “fun, responsible, driven and family-oriented teens from different backgrounds with diverse life experiences.”

Besides being highlighted in Kadenang Ginto, The Gold Squad will soon have an album with Star Records. Talking in behalf of the group, Seth says, “Nakaka-excite po ang mga pangyayari na ito. Dati pinapangarap ko lang tumulong sa pamilya ko, kaya magandang blessing talaga ito. Nakaka-pressure po kasi ako yun baguhan pero ang babait po nila at matulungin.” nnn NADINE LUSTRE rose above the MYX Music Awards 2019 competition with the most number of wins, while Juan Karlos triumphed with Song of the Year for “Buwan” at the awards night held at the ABS-CBN Vertis Tent.

Multimedia princess Nadine proves she is truly unstoppable as she took home four huge wins: Artist of the Year, Female Artist of the Year, Media Soundtrack of the Year (with James Reid for “Prom”), and Music Video of the Year for her song “St4y Up.” “This is a big surprise for me. I would like to thank all the JaDine fans who voted for me, all our supporters. To James, of course, thank you for writing this beautiful, beautiful song. Thank you so much, MYX,” said Nadine.

Darren Espanto, I Belong to the Zoo, and Moira dela Torre also bagged two awards each: Darren with Male Artist of the Year and Remake of the Year for “Dying Inside to Hold You,” I Belong to the Zoo with New Artist of the Year and MYX Bandarito Performance of the Year, and Moira with Collaboration of the Year for “Kung ’Di Rin Lang Ikaw” with December Avenue and Mellow Video of the Year for her hit song “Tagpuan,” which she also

THE GMA stars serenaded and paid tribute to exemplary mothers from New York and New Jersey in celebration of Mother’s Day.

performed at the awards ceremonies alongside her husband Jason Hernandez.

Meanwhile, Jolina Magdangal led a new generation of artists consisting of Jona, Julie Anne San Jose, Juris, Maysh Baay, and Moira in performing the greatest hits of this year’s MYX Music Awards Magna awardee, Rivermaya. The prestigious MYX Magna Award hailed all those who have been part of the Rivermaya legacy for the past 25 years, and it was received by current members Miguel Escueta, Mike Elgar and Nathan Azarcon.

“We want to thank the fans—we won’t last 25 years if it weren’t for our supporters. We would like to share this award with our co-musicians and bands.

We encourage you guys to keep playing, to keep singing, no matter what happens,” said Miguel in their acceptance speech.

MYX also partnered with Spotify, the world’s most popular music streaming subscription service, to present the Most Streamed Local Artist Award based on their 2018 Wrapped data. Moira walked away with the inaugural award as she was Spotify’s most streamed female artist for 2018 in the Philippines.

The Idol Philippines judge and Ben&Ben also came together for a special Spotify Jams session live at the MYX Music Awards where they sang their Spotify recorded versions of the greatest OPM love songs of the past: “Beautiful Girl” by Jose Mari Chan and “Naaalala Ka/Maging Sino Ka Man” by Rey Valera.

Both recordings are available on Spotify’s OPM flagship playlist “Tatak Pinoy.”

Other notable awardees are Boyband PH with Group of the Year, IV of Spades with Rock Video of the Year and Shanti Dope with Urban Video of the Year.

The 14th MYX Music Awards was hosted by VJs Ai dela Cruz, Inigo Pascual, Robi Domingo, Samm Alvero, Sharlene San Pedro and Sunny Kim. n

RAYVER CRUZ showed off his dance moves to Pinoys in New York.

‘Studio 7 Musikalye sa Brooklyn’ captivates East Coast Fil-Ams; digibox fix FILIPINOS from all over the US trooped to the Kings Theater on May 11 to watch a night of pure entertainment from some of GMA’s sought-after stars: Christian Bautista, Julie Anne San Jose, Rayver Cruz, Kyline Alcantara, Golden Cañedo, Betong Sumaya and Alden Richards.

The highly successful show, dubbed Kapusong Pinoy Studio 7 Musikalye sa Brooklyn, was filled with a variety of performances—from high-energy dance numbers, powerhouse vocal sets, duet performances and heartfelt moments that kept fans abroad in high spirits. One of the show’s highlights was when the GMA stars took the opportunity to celebrate Mother’s Day by serenading as they gave out roses to the moms in the audience.

The Studio 7 squad expressed their gratitude to fans for making their first international Musikalye show a huge success. Christian, who exhibited why

he is one of GMA’s most powerful singers with his stellar performances, expressed his gratitude for the overwhelming support of fans abroad: “Thank you so much for spending time with us.”

“We’re very fortunate dahil nadala namin ’yung saya ng Studio 7 sa international stage. Hopefully, marami pang shows na dumating para mas marami pa kaming mapasayang Kapuso abroad,” Julie Anne said.

Rayver, on the other hand, shared his experience in his first international show as a GMA artist: “Ang saya ng samahan naming lahat. Masaya kami na nakapagbigay kami ng ligaya dito sa Brooklyn.”

One of the crowd favorites, Betong is grateful to again be able to share laughter with fans abroad.

“Maraming-maraming salamat po. Amazing thanks sa inyong suporta, sa mainit ninyong pagtanggap, at sana po tuluy-tuloy lang po ang pagsuporta ninyo sa GMA Pinoy TV.” Alden also shared how the moms he met during

the concert made him feel sentimental over the Mother’s Day celebration. “Nag-enjoy kami and I’m sure masaya ’yung mga mommy namin ni Rayver sa heaven na we’re making people happy.”

Some of the GMA fans abroad, who greatly enjoyed the show, also expressed their appreciation to the concert experience. An audience member said: “The show recognized Fil-Am leaders. Maganda, it [the show] was fun, well-attended, masasaya at magagaling silang lahat.” Another remarked, “The concert is amazing, it’s first-rate, I like it, it’s total entertainment, I really enjoyed it. Thank you!”

“We are glad to have brought the ultimate music tambayan experience of Studio 7 to New York,” says GMA First Vice President and Head of International Operations Joseph T. Francia.

“It affirms our mission to make our Kapuso abroad feel closer to home, and provide them with the great

entertainment they deserve from no less than some of the network’s multitalented performers,” he added.

Meanwhile, GMA sent out a notice for urges Manila viewers to rescan their digital TV boxes immediately to continue watching and find GMA and GMA News TV much faster when channel surfing. To rescan, follow these simple steps: press “Menu” and go to “Settings” under “Installation” press “Factory Default” and enter the password on the dialogue box (for example: 0-0-0-0); select “YES” to confirm Factory Default; choose “Auto Search” or “Auto Scan” then press “OK”; wait for the auto scan to be completed or until “Search Completed” appears on the screen then press “OK” or “Exit”; search for GMA and GMA News TV using the up and down buttons of the remote control.

According to the network, cable and satellite subscribers have no need to rescan.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, May 24, 2019

Big rigs such like these DAF trucks of Pioneer equipment were on display inside the tent.

From left: Arsenio Garcia of G Tecnica Equipment Corp; UTRIP President Jaime Vicente; Elvin Garcia, Heavy Industries Division of DTI and Ruby P. Navarro of GLC Truck and Equipment.

Small trucks for different configurations

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Moto

Business

E2 Friday, May 24, 2019

PIONEER OF HYBRID ELECTRIFICATION IN PHL

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OYOTA Motor Philippines is actively working toward a more sustainable future by raising awareness and educating the public on the inevitable global shift of the auto industry from traditional petrol engines to electric vehicles. Paving the way for modern electrification, TMP aims for the wider adoption of its Hybrid Electric Vehicle (HEV) technology, which can be utilized in numerous sectors and industries.

Toyota, as a global entity responsible for moving millions of people around the world, has been developing its hybrid technology since the late 1990s. It is the first car manufacturer to overcome the technical and engineering nuances that prevent the unique powertrain from being mass-produced. In 1997 the Toyota Prius was launched in Japan and the United States, making it the first-ever hybrid electric vehicle to be publicly available to consumers.

In June 2009 almost a decade ago—TMP brought to Philippine shores the second generation Prius—a model way ahead of its time and local market taste. Like its global counterpart, the Prius became the pioneer of hybrid electrification in the Philippines, giving motorists an alternative option. The hatchback Prius C model followed suit in 2012.

The Prius is known for harnessing power from two sources: a gas engine and an electric motor run by a selfcharging battery. This combination makes the model fare better with fuel economy and riding comfort.

“As the younger generation becomes more environment-conscious, we feel like it is the perfect time to educate them about ecofriendly technologies readily available to us,” said TMP Vice President Elijah Marcial. Various Toyota efforts using the Prius help people understand the long term and cu-

mulative benefits of using hybrid electric technology.

In the Philippines, Toyota regards hybrids as the ideal transition phase toward electrification: “Hybrid electric vehicles will be our initial step for a more sustainable future. Given the local landscape, HEVs are undeniably the smart and practical way to usher change in the auto industry,” said TMP First Vice President Cristina Arevalo.

To build on this awareness into action initiative, TMP is mounting several efforts for the general public.

This coming May 29, 2019, a Toyota HEV Conference is slated to happen with Toyota technical experts, key government officials, members of the press, academe and several NGOs in attendance. The theme of the conference is “Toward Sustainable Mobility.”

For more information, visit TMP’s official web site at www. toyota.com.ph.

ROCK SOL

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Story & photos by Randy S. Peregrino

FTER its global introduction in Thailand late last year, the new Mitsubishi Strada pickup finally made its Philippine debut early this year.

Recently, Mitsubishi Motors Philippines Corp. (MMPC) hosted another event only this time to test its tough pickup for a long-distance drive through the mountain highways of Palawan.

REFLECTION of a “Rock Solid” character

Shell launches #BabaeKasi Campaign

DARK themed sporty interior

WOMEN! Drive The Future ambassadors and media guests gearing up for the hands-on activity organized by A-1 Driving School

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AKING part in the worldwide observance of International Women’s Day (IWD) in March, Pilipinas Shell expressed support for Filipinas who brave the roads every day. Jump-starting the campaign with the Women! Drive the Future boot camp, Shell brought together various women leaders and role models in a show of solidarity with other women who experience gender prejudice.

Professional race car driver Michele Bumgarner admitted that in the motoring world, men are still favored. “I just let my driving do the talking,” she says. “I always say just keep working hard and believe that you are just as capable as anybody else in reaching for your goals,” the Pinay racer who dreams of becoming the first Filipino to finish the Indy 500 also added.

Held at Blackbird at the Nielson Tower in Makati City, the panel featured Baby Barangay members Kelly Misa-Fernandez, Patty Laurel-Filart, and Bianca Santiago-Reinoso. They were also joined by Rowie Abracero,

directress of the Girls Racers club— the first all-female car enthusiast club in the Philippines.

Abracero noted how women drivers are often stereotyped as weaker.

“From experience, I find that women just tend to be more cautious, and this is not a bad thing.”

Participants of the boot camp were also treated to a hands-on demonstration of A-1 Driving School, where they had a refresher on tire changing, dealing with a dead battery and performing a lubricant check.

“Driving is a complex life skill. It entails a lot of multitasking, which we know women to be good at. For anyone to be proficient at it, we also need to educate ourselves,” said Luna Garcia, A-1 Driving School business development head.

For Shell, the Manila boot camp is only the beginning, and will be rolled out to different regions nationwide. “We are very positive that through these efforts, we will be able to create a platform to help women take control of their future and gain confidence on the road and beyond,”

said Vanessa Ejercito, Shell FuelSave brand manager.

She also noted how Shell has been actively serving the interests of female customers even prior to the campaign. “We are partners with SM, the country’s biggest retailer, to reward our loyal female shoppers with exciting shopping opportunities every time they gas up. Shell stations are also designed to provide a convenient, refreshing retail experience—from putting up wellappointed comfort rooms to offering a wide range of healthy products at Shell Select and deli2go.” To celebrate the many meaningful journeys that they embark on every day, Shell has also recently released an online video featuring female drivers. With currently over 2 million views, the material has successfully sparked conversation about gender stereotypes, and has encouraged both men and women to vocalize their encouragement for women who drive. #BabaeK asi Video: https:// w w w.fa c e b o o k . co m /S h e l l /v i d eos/2793813874177699/

MMPC flew select members of the motoring media to the scenic province where everything started at the Mitsubishi dealership (Maximotors Corp.) in Puerto Princesa. Six varying models of Strada where commissioned along with several Montero and Xpander units as support vehicles.

Joining us was none other than MMPC President and CEO Mutsuhiro Oshikiri. “We are here [Palawan] for an exciting drive of our latest model—the new Strada. Some of you may have test driven the new Strada in Thailand and Pampanga. But we’d like to give you more opportunity to see and experience all the improvements made for this pickup’s performance,” he said.

Imposing presence

TEAMED up with veteran journalist/ editor Dino Directo and cameraman Dodong Desamero, we boarded the GLS 4WD 2.4 MT variant. Donning the new design concept “Rock Solid,” the front end now exudes a more imposing presence than the previous iteration.

Rather than simply making it similar to its platform-shared Montero, Mitsubishi even went further by adapting some of the Xpander’s elements. So the sleek grille along with the super slim headlights, and dynamic bumper with fog lamps all highlight that familiar Xshaped pattern. The elements made the new Strada look absolutely bolder with a character of its own.

The taillights, meantime, also received the “tear drop” design found in the Montero’s tail lamps, only shorter.

While the vehicle retained its distinctive “J-line,” the flanks have beefier wheel arcs. These perfectly match the high ground stance and complement those new two-tone alloy wheels.

Improved comfort and convenience

SINCE it was a long drive, comfort and convenience are must-have features going through the mountain highways of the province. For starters, the ergonomic dashboard with upgraded center panel now has a new two-din infotainment equipped with all the functions you need. Finding that perfect driving position was easy—thanks to the tilt steering wheel adjustment and sporty seats with multi-adjustments.

Noteworthy is the ceiling air circulator available in the unit we drove, which improved cabin cold air distribution.

There are even additional USB charging ports and small compartment for rear passengers.

Perhaps one of the improvements we felt while driving was the suppler ride. With larger rear dampers, shock absorption was better for a leaf-sprung rear suspension. In fact, rebounds from road imperfections were undeniably negligible according to the rear passenger. As for the legroom, it’s definitely generous even for tall passengers.

Another impressive feature is the vehicle’s noise, vibration and harshness subdual. Overall, the cabin experience was quiet, comfy and cold.

Power and agility

MOTIVATION comes from a 2.4-liter

EXCELLENT water wading capability

POWERFUL 2.4-liter turbo diesel with Mivec engine

Mivec with variable geometry turbo diesel engine dishing out 179 hp and 430 N-m of maximum torque. Then the larger front brake discs and rear caliper pistons are for stronger braking. All those with the improved dampers and electronic functions, we were confident that the new Strada was more than capable to take on the long-distance drive, climbs and constant turns.

On highway stretches, stepping on it provided potent acceleration. Impressively, there was no need to con-

oring

sMirror

Friday, May 24, 2019

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AutoDeal Q1 2019 report A

LID IT IS

THE fleet of new Strada pickups in different variants

UTODeal.com.ph, the country’s No.1 automotive online marketplace, has released its quarterly report that shows an increase in the number of test drives and quotations request, as well as general inquiries, using the online buying platform.

In the AutoDeal Industry Insights Q1 2019, the total online car buying inquiries are up by 12 percent compared to the same period last year, and up by 13.66 percent from Q4 2018. This shows a significant increase in the interest of online car buyers, which has been an upward trend since 2015.

Apart from the increased interest of the car buyers, the spike in the total number of leads could be attributed to the enhancements employed onto the AutoDeal platform, which resulted to 6,869,051 web site visits in Q1 2019—up by 6.71 percent from Q4 2018. This resulted in a total of 80,820 inquiries through the AutoDeal platform, which converted to a total of 3,245 confirmed purchases that were tracked and confirmed from those who used AutoDeal in purchasing their cars. Moreover, the Industry Insights Q1 2019 report recorded a record-breaking number of inquiries in March. Garnering more than 30,000 leads sent over to our partner dealers, March 2019 outperforms other months since AutoDeal has started.

Of all the inquiries received in Q1 2019, subcompact cars and

Q1 top-selling new vehicles

AUVs/MPVs remain to pique the interest of online car buyers. This can be attributed to the popularity of new nameplates like the Mitsubishi Xpander and Toyota Rush, which are both under the category of AUVs/MPVs. Subcompact cars, on the other hand, remain as the front-runners due to their competitive pricing and relative affordability.

Although it’s important to note that there’s a decrease in the number of inquiries for both AUVs/ MPVs and subcompact cars. In contrast, pickup trucks, whether used for lifestyle or business, continue

to take a bigger piece of the pie— a trend that has started since the exemption from the revised excise tax rates have been employed in 2018, resulting to more attractive pricing of this vehicle type.

The increase in inquiries for pickup trucks coincides with the fact that the average price of vehicles sold on AutoDeal in Q1 2019 is P1,259,545. This figure is well within the price range of mid-variant pickup trucks. The way we see it, the pickup truck segment will continue to flourish through the course of 2019 if the competitive pricing carries on.

MPTC and Japan Expressway companies sign accord

MPTC President and CEO Rodrigo E. Franco (seated, from left), MPTC Chairman Manuel V. Pangilinan and Jexway President Dr. Koji Kuroda. (Standing, from left): MPTC SVP for Communication and Stakeholder Management Romulo S. Quimbo Jr., Nlex Corp. President and General Manager J. Luigi Bautista, Nexcco Central Managing Director Takeo Nakamura, MEX Executive Officer Hiroshi Dobashi and Jexway Board Member/Senior Director for Project Development Toru Suzuki

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CEILING-MOUNTED air circulator for higher variants

stantly downshift while on slopes.

Even at low revs range, there was still enough torque. But at times when the need to push in order to climb fast and overtake, shifting to lower gears with higher revs certainly does the job, effortlessly. While the clutch pedal is high along with relatively longer gear shifter throw, finding that rhythm for perfect shifting only takes a short while.

As for the handling, the pickup’s shorter wheelbase really contributed to the excellent nimbleness and maneuverability, despite the high

ground clearance. Not to mention, the upgraded damping mechanisms along with the electronic functions also became a plus factor. We even played around with the Easy Select 4WD function and switched on 4H on the fly in order to get front wheel traction, and indeed, it made a big difference. Practically during tight turns with sudden ascents, all we had to worry about was when to shift and brake in order to maintain good momentum and control. The light and responsive steering also

aided in the process.

Off to the beach

AROUND 175 kilometers after, we finally reached Club Agutaya in San Vicente, Palawan. Then after settling, we took off and drove along the long coastline. There we were able to experience how the Strada, whether 2WD or 4WD variants, easily managed to pass through the beach by maintaining a faster pace. We even witnessed one of the 4WD units demonstrated water wading capability in great form.

CONSORTIUM of major Philippine and Japanese expressway players recently signed a memorandum of understanding (MOU) on technical cooperation and exchange of information regarding areas of mutual interest in their respective expressway systems.

Witnessed by its Chairman Manuel V. Pangilinan, Metro Pacific Tollways Corp. (MPTC) executed the MOU with Japan Expressway International Co. Ltd. (Jexway), Central Nippon Expressway Co. Ltd (Nexco Central) and Metropolitan Expressway Co. Ltd. (MEX) to commence the exchange of information on engineering expertise and technology and cooperate on matters concerning designing, building and managing expressways.

Covered by the MOU are asset management and repair of at-grade and elevated road and bridge sections, tunnel design and construction and the use of best practices to monitor the structural performance of expressway assets and facilities including technical audits to address all kinds of conditions and requirements.

MPTC President and CEO Ro-

drigo E. Franco said, “We are very happy to sign this technical cooperation agreement with Jexway, Nexco Central and MEX, as this will allow us to tap into the wealth of Japanese road engineering experience and technology,” including Japan’s history of effectively responding to and managing to natural disasters.

“This expertise comes in handy as we prepare ourselves to manage our roadways effectively in cases of emergencies like earthquakes and other natural calamities,” Franco added.

For his part, Jexway President Dr. Koji Kuroda said: “Japan lies on the so-called ring of fire and volcanic eruption are very common.”

During disasters, “operations and maintenance [O&M] is key” as the expressways are the most important infrastructure in the region.

MPTC is the largest toll-road developer and operator in the Philippines in terms of annual average daily traffic and combined length of the expressway network. MPTC’s tollway concessions include the North Luzon Expressway, the Subic-Clark-Tarlac Expressway, the Cavite Expressway, the Nlex Connector, the Cavite-Lagu-

na Expressway, and the Cebu-Cordova Link Expressway. MPTC also has significant investments in tollway companies in Indonesia, Vietnam and Thailand.

Jexway has been established jointly by five Japanese expressway companies to develop global expressway projects. Together with other Japanese institutions, Jexway has led international efforts to take advantage of the technology and know-how cultivated by Japan’s expressway companies over the past 50 years.

Signing as witnesses were, for Nlex—President J. Luigi Bautista and Senior VP for Communication and Stakeholder Management Romulo Quimbo Jr.; for the Japanese firms—Jexway Senior Director Toru Suzuki, Nexco Central Managing Director Takeo Nakamura, and MEX Executive Officer Dr. Hiroshi Dobashi.

After the MOU signing, MPTC, Jexway, Nexco Central and MEX— jointly conducted a seminar attended by the technical teams of the firms, focusing on engineering, electronic toll collection systems and commercial areas development.

Motoring BusinessMirror

E4 Friday, May 24, 2019

New Avanza at old price; Lexus stars

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HERE in the world can you find a second-generation model sticking to its old price despite being equipped with new hi-tech features? Only at Toyota Motors Philippines (TMP).

The new Avanza, first launched in 2006, had its second coming only a while back to coincide with the blastoff of the iconic Toyota Roadtrek in Palawan.

Elegantly redesigned to combine best value with modern style, the 2019 Avanza comes with a refreshed sporty look, a redesigned dashboard with a new infotainment system and practical safety features seldom seen in a multipurpose vehicle (MPV).

Almost 100,000 units sold

WITH almost 100,000 units sold, the Avanza continues to draw loyal buyers, their spirits buoyed up by a worry-free ownership and an affordable convenience to Filipino families.

Its old price of P731,000 has remained when it was relaunched on May 14, spread in Toyota’s 69 dealerships nationwide.

Listen to TMP’s marketing top

gun Tini Arevalo: “The new Toyota Avanza has an exterior overhaul, with its brand-new fascia giving it a sportier look and a more confident stance. The facelift includes new split-type LED headlamps which seamlessly complement the character lines of the hood’s sheet metal, as well as Front Fog Lamps alongside its dark front grille. Style is the new smart with its redesigned alloy wheels that highlight the model’s ground clearance. It is perfect for road trips with the whole family. The sporty rear design and the fin-type antenna complete the new Toyota Avanza’s modern look.”

The new Avanza even boasts of the display infotainment found only in the RAV4 and Camry, including the high-resolution K2 Technology audio that enables 2-Phones HandsFree and 5-Phones Music Streaming. Smartphone mirroring is also allowed using the T-Link app.

“The new Avanza makes sure that everyone is comfortable for the long drive with its seven-seater cabin and spacious cargo trunk,” said Carlo Nemo of TMP’s marketing.

TMP’s Elvin Luciano said: “On top of its Anti-Lock Brake System, the new Avanza is also upgraded with Side Mirror-Integrated Turn Signals, ensuring safe trip and peace of mind to the entire family.”

The variants and prices below:

VARIANT

SRP

1.5 Veloz A/T

P1,065,000

1.5 G A/T

P1,000,000

1.5 G M/T

P957,000

1.3 E A/T

P907,000

1.3 E M/T

P864,000

1.3 J M/T

P731,000

“I can’t wait to own one,” said Valentin Dakuykoy, my legman since the Edsa Revolt.

Lexus in ‘Men in Black’

LEXUS RC F sport coupe stars in Sony Pictures’ Men in Black that starts showing here on June 12 and on June 14 in US theaters.

To complete their missions, the Men in Black need vehicles with the horsepower for high-speed pursuits, Lexus being the most advanced alienfighting technology in its class.

The Men in Black have always protected the Earth from the scums of the universe. In this new adventure, they tackle the biggest global threat to date: a mole in the Men in Black organization.

The 2020 Lexus RC F is the film agents’ vehicle of choice.

The luxury sport coupe recently underwent an exciting change, making it faster, lighter and even more ready to transport the Men in Black as they save the universe.

The Lexus RC F offers the best

They also build pickup trucks

power-to-weight ratio in its class and the most powerful Lexus V8 to date, generating 472-plus horsepower.

The Lexus RX Hybrid and Lexus LX SUVs are also featured in film scenes with alien encounters.

“We’ve added some top-secret capabilities to the RC F especially to assist the Men in Black agents,” said Lisa Materazzo, vice president of Lexus marketing. “For now, I can only say we’ve created a truly oneof-a-kind alien-fighting machine.

We can’t wait for moviegoers to see the RC F as they’ve never seen it before.”

“We’re excited to collaborate with Lexus on this multi-tiered campaign in support of Men in Black: International,” said Jeffrey Godsick, EVP, Brand Management and Global Partnerships, Sony Pictures Motion Picture Group. “The Lexus RC F sports coupe provides the perfect vehicle for our team of Men in Black agents, led by Chris Hemsworth and Tessa Thompson, as they protect the galaxy.”

Lexus began its journey in 1989 with two luxury sedans and a commitment to pursue perfection. Since then, Lexus has developed its lineup to meet the needs of global luxury customers in more than 90 countries.

With six models incorporating Lexus Hybrid Drive, Lexus is the luxury hybrid leader. Lexus also offers eight F SPORT models and two F performance models.

“Lexus is committed to being a visionary brand that anticipates the future for luxury customers,” said Raymond T. Rodriguez, president of Lexus Manila.

PEE STOP Happy birthday to John-

ny Tan of Concept One and May Uy of Bacolod’s May’s Organic Farm…

Missed during the recent Toyota trip to Palawan was Jing Atienza, a Roadtrek fixture, who just couldn’t skip a previous commitment…Congrats to Carlo Chungungco for passing the recent bar. I knew it the day he left Lexus to pursue his law career.

Mabuhay ka, Atorni!