BusinessMirror May 27, 2019

ESCALATION OF TRADE TENSIONS TO PUSH EASING CYCLE FURTHER–FITCH THINK TANK

By Bianca Cuaresma

headwind to growth over the coming quarters,” Fitch Solutions said.

“This would likely see the BSP embark on a more aggressive easing cycle into 2020 to help support the economy as external demand wanes,” it added.

Despite the still-positive domestic consumption outlook, Fitch Solutions said the slowing global growth and persistent Sino-American trade tensions will continue to weigh on growth over the coming quarters.

“The escalation in trade tensions between the US and China in May will deepen the external drag on the Philippine economy. The US and China accounted for

@BcuaresmaBM

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HE looming trade war between the United States and China may push the Bangko Sentral ng Pilipinas (BSP) to aggressively ease its monetary-policy stance up until 2020.

In a research note published recently, Fitch Solutions—the research arm of the Fitch Group—flagged trade tensions as one of the major downside risks to the local economy.

“A major downside risk stems from a greater escalation of Sino-American trade tension, resulting in a persistent

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15.6 percent and 12.9 percent respectively of exported goods from the Philippines in 2018, with Hong Kong and Japan also key markets accounting for 14.2 percent and 14 percent of exports respectively,” the think tank said.

“Increased trade tensions between the US and China have had a ripple effect across the Asia region, weakening demand across the supply chain and dampening business confidence in the first half of 2019.

“A further escalation of tensions or prolonged period of the tariffs introduced in May could likely lead us to revise down our [Philippine] growth forecast of 6.3

percent in 2020,” the research group said.

The BSP already started to ease its monetary-policy stance in May, with a 25-basis-point cut to the overnight reverse repurchase rate effective on May 10.

BSP Governor Benjamin Diokno told reporters their decision to cut after several months of unchanged monetarypolicy stance and aggressive 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.

Diokno also said the decision on Thursday was made in a “right policy point”

environment, with considerations to the country’s disappointing growth numbers in the first quarter of the year.

The Monetary Board also decided to cut its reserve requirement ratios (RRR) by 200 basis points.

The implementation of the cut will be in three stages: the first 100 basis point cut will be effective on May 31; another 50-basis-point cut will be implemented on June 28; and the last 50-basis-point cut will be effective on July 26.

Economists earlier said the cut, both in the main policy rate and in the banks’ reserves ratio, will be positive for the country’s ailing growth numbers.

BusinessMirror A broader look at today’s business

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n Monday, May 27, 2019 Vol. 14 No. 229

‘CSP for power needs tweaks to ensure supply’

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By Elijah Felice E. Rosales

@alyasjah

HE International Chamber of Commerce Philippines (ICCP) has asked the Philippine government to strengthen its competitive selection process (CSP) for power distributors to ensure that energy supply, reserves and demand are accurately projected.

In a statement over the weekend, ICCP said it supports the mandatory implementation of the CSP. The circular on CSP, issued in 2015 by the Department of Energy (DOE), requires power distributors and cooperatives to procure their supply through the CSP instead of negotiating them with

generation firms. This was seen as a way to ensure more competitive rates, given that the Philippines has one of the most expensive electricity prices in the region.

The ICCP statement came weeks after the Supreme Court ordered all power service agreements submit-

ted by energy distributors to the Energy Regulatory Commission to undergo CSP. In a ruling on May 3, the SC ruled in an en banc session the ERC committed grave abuse of discretion amounting to lack or excess of See “CSP,” A2

This approach ensures a wellcoordinated supply, reserves and demand forecast; strengthens the market power of smaller distribution utilities by aggregating their demand; and makes investment in power generation more attractive to investors, inducing greater competition that could lead to power supply security and competitive tariffs.”

—ICCP

MERELY 2.3% SPENT FROM CHINA-FUNDED N.C.R.FLOOD PROJECT

By Cai U. Ordinario @caiordinario

N

EARLY two years into a project, the disbursement ratio for the China-funded Metro Manila Flood Management Project has remained at only 2.3 percent, according to documents from the Asian Infrastructure Investment Bank (AIIB).

The AIIB’s project implementation monitoring report for the project showed that the most recent disbursement worth $4.3 million for the project was on October 30, 2018.

The $207.6-million loan was signed in December 2017 and became effective in March 2018. The total disbursed amount after the one made in October was at $4.8 million.

S

ENATE President Vicente Sotto III allayed concerns by a jittery labor sector that last-ditch lobbying in Congress could still derail bicameral efforts and mangle the final version of the so-called End of Endo reform embodied in the Security of Tenure (SOT) bill.

“We will not allow it,” the Senate President told the BusinessMirror over the weekend.

The Senate President gave the assurance amid apprehensions by labor groups that lobbyists are working on their House counterparts to water down or avert approval of the awaited remedial legislation.

“It is best that the House just adopt our version,” the Senate leader said, adding, “then there will be no problems, at all.”

The final version earlier approved by the Senate defined security of tenure for workers in a move to effectively avert abuses in the practice of illegal contractualization.

See “SOT bill,” A2

PESO EXCHANGE RATES n US 52.5220

“The loan became effective on March 15, 2018. The project was affected slightly as IA [Implementing Agency] introduced certain changes in the technical designs [to optimize the functioning of pumping stations] and procurement method [from Civil Works procurement to Supply & Install],” AIIB stated.

“The first contract for the modernization of pumping stations with updated designs [$6.5 million] was signed in December 2018.

Designs of two other contracts have been finalized, while designs of remaining two are near finalization. Tendering for next batch is expected to commence in May [2019],” it added. However, the first See “Flood project,” A12

ASF watch: DA probes OFW breach of quarantine

By Jasper Emmanuel Y. Arcalas

“It is best that the House just adopt our version. Then there will be no problems at all.”—Sotto

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Senate will not allow mangling of SOT bill in bicam, says Sotto

By Butch Fernandez

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@jearcalas

A EASE OF DONATING Globe’s fintech arm Mynt, the operating company behind GCash, recently launched its corporate social responsibility arm called “GCash for Good.” Mynt is eyeing to help around 100 nongovernment organizations receive donations online by the end of 2019. Anthony Thomas (center), president of Mynt leads the launch of GCash for Good with NGO partners in Makati City. Story on page A2. CONTRIBUTED PHOTO

GR ICULTUR E Secretar y Emmanuel F. Piñol has appealed to government agencies to strictly implement measures against African swine fever (ASF) following a recent quarantine protocol breach that involved broadcaster Raffy Tulfo and an overseas Filipino worker (OFW) over processed meat products in her luggage.

In a long Facebook post in Filipino on Sunday, Piñol reminded the Bureau of Customs and other concerned agencies to implement the memoranda issued by Department of Agriculture (DA) not Continued on A2

n JAPAN 0.4793 n UK 66.4823 n HK 6.6916 n CHINA 7.5991 n SINGAPORE 38.0815 n AUSTRALIA 36.2349 n EU 58.7248 n SAUDI ARABIA 14.0066

Source: BSP (24 May 2019 )

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A2 Monday, May 27, 2019

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‘SOT bill will still allow contractualization’

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By Samuel P. Medenilla

@sam_medenilla

HE Department of Labor and Employment (DOLE) said contractualization will still be allowed under the pending of Security of Tenure (SOT) bill, allaying fears of employers the legislation will abolish the controversial work arrangement.

In a media forum, Labor Assistant Secretary Benjo M. Benavidez said the current version of the SOT bill still recognizes nonregular forms of employment such as seasonal, project-based,and probationary jobs.

“This is the flexibility [provided by the bill] for businesses,” Benavidez said.

Contentious issues

HOWEVER, Benavidez conceded that the manner of how this provision will be stipulated in the final version of the SOT bill may be the subject of debates once the pending legislation goes through the

CSP. . .

Continued from A1

jurisdiction when it postponed the effectivity of the CSP requirement.

With the decision, distribution utilities, such as Meralco, are now mandated to undergo CSP, making prior self-negotiated deals ineffective as a basis to hike rates passed on to consumers.

Beyond prices: supply, investments

IN its statement, the ICCP argued that the CSP could be improved to make supply, reserves and demand forecasts well coordinated.

The ICCP recommended scheduling a regular bidding period for base load and reserve capacity based on 100 percent of aggregated projected demand and standardized power supply agreement. By doing this, it argued, the government could also secure more investments in power generation.

“This approach ensures a well-

SOT bill. . .

Continued from A1

Principally sponsored By Sen. Joel Villanueva, chairman of the Senate Committee on Labor, Employment and Human Resources Development, the “end of Endo” embodied in Senate Bill 1826 provided measures to “uphold the constitutionally guaranteed right to security of tenure.”

The bill affirms the ban on“labor-only” contracting, clarifying “ambiguities” in existing laws that, Villanueva said, was used by enterprising employers to go around the rules.

Villanueva lamented that workers long “suffered from the evils of Endo” that he denounced as “a practice that corrupts the dignity of labor.”

He added that the remedial legislation was crafted to “give all workers peace of mind when it comes to their employment.” The Senate last week passed on third and final

Protect PHL. . .

Continued from A12

And if you think that the country is not run the way it is and if it will destroy your country, you should know what to do,” he added.

Aside from a Presidential Saber, the President also handed Umalla with a house and lot certificate.

Duterte also gave a watch to Cadet 1st Class Alberto Lester Guzman Julaguit incoming corps commander of cadet corps of the Armed Forces of the Philippines.

Meanwhile, Cadet First Class Danmark

bicameral conference committee on Wednesday.

During the bicameral conference, members of House of Representatives and the Senate will be consolidating and harmonizing the provisions of their separate versions of the legislation.

“In the House version, there is an expressed prohibition on fixed term employment, while in the Senate, this is just implied since it classifies workers generally [under] regular employment except those in seasonal, project and probationary work,” Benavidez said.

Also another possible controversial topic in the conference, Benacoordinated supply, reserves and demand forecast; strengthens the market power of smaller distribution utilities by aggregating their demand; and makes investment in power generation more attractive to investors, inducing greater competition that could lead to power supply security and competitive tariffs,” the business group said.

The ICCP also stressed that the full implementation of the CSP will benefit consumers, as the order goes beyond lowering the cost of electricity. It said the CSP will allow power regulators to manage the contracting of energy supply and services.

“It will give the government, through the DOE and the Energy Regulatory Commission, a sustainable degree of check and balance in determining the capacity, energy and service that will be contracted, and the opportunities to infuse a holistic strategy in energy mix, locational, environmental and technological choices instead of just leaving them at reading the SOT bill, which the House had approved last year.

Sotto’s proposal for the House to adopt the Senate version may yet be heeded, in order to avoid protracted bicameral conference committee debates, given that in her letter to Sotto before Congress resumed sessions last May 20, Speaker Gloria Macapagal Arroyo listed those bills she deemed should be given priority in the last session days of the 17th Congress.

She said that the House may consider adopting the Senate version of some bills in order to hasten the legislative process.

In a statement last Thursday, Trade Union Congress of the Philippines Vice President Louie Corral said they are wary of a possible intervention by the Department of Finance in a bid to derail the SOT. He said workers also expect similar moves by the Employers Confederation of the Philippines (Ecop) and the Joint Foreign Chambers of Commerce (JFCC).

Q. Solomon received a new pistol from the President.

The President has been criticized for taking a softer stance against China when it comes to issues in the West Philippine Sea. This, even though the country has won in the dispute through the landmark ruling issued by The Hague-based Permanent Court of Arbitration in 2016 invalidating China’s “excessive” claims to the West Philippine Sea. He has, however, repeatedly asserted that there is a time when the arbitral tribunal ruling will have to be invoked against China, and when that time comes, he will not hesitate to use it.

videz said, is the list of prohibited acts to be stipulated in the bill.

For the part of labor coalition Nagkaisa, the lengthy discussion in the bicameral conference may center on the fine for employers violating its provisions.

Nagkaisa chair and Federation of Free Workers (FFW) President Sonny Matula said the House version proposes a fine of P30,000 per head for those engaged in illegal contractualization, while the Senate version is pushing for a P 5-million cap for fines for SOT bill violators.

More consultations

DESPITE these issues, DOLE is hopeful the bill will be passed in the few remaining days of the 17th Congress, especially since it addresses a major cause in the prevalence of illegal contractualization.

“The SOT [bill] is one of DOLE’s priority legislative measures that has been certified as urgent by the President...It won’t take long before this SOT bill becomes a law,” Labor and Employment Secretary Silvestre H. Bello III said in a statement.

Benavidez said a major innovation in the SOT bill is that it seeks to finally determine which posithe whim of the related company generators,” ICCP said.

“By opening the generation market, it will further invigorate sustainable investments in power development and assure long-term power supply for the country at competitive rates.

It will encourage the introduction of more efficient technologies and harness the entrepreneurial ingenuity of the private sector for the benefit of consumers,” it added.

The ICCP also said a mandatory CSP will provide authorities, including the National Electrification Administration (NEA), a mechanism to assist power cooperatives in planning and energy mixing.

The CSP covers methods of competition to find the least power cost from alternative but qualified sources and feasible technologies. It also intends to address issues of conflict of interest where price negotiated by distribution utilities and power generators are ultimately passed on to consumers.

“It will cut down production costs by doing away with ‘Laboronly’ contractors whose financial services charges add 15 percent to the labor costs of employers utilizing such agencies.”—TUCP President Mendoza

tions could be contracted out.

He said the SOT bill, particularly its version from the Senate, assigns employers and other employment stakeholders to indirectly determine jobs to be contracted out in the legislation’s implementing rules and regulations (IRR).

The bill allows businesses to determine, which positions in their companies are directly-operated to their operations. Employers will only be allowed to contract out jobs which are considered noncore to their operations.

“We will be given 120 days after the implementation of the bill to complete this [in the IRR],” Benavidez said.

He said they already laid the groundwork for the said arrangement as early as last year with the

signing of Executive Order (EO) No. 51 on Security of Tenure, which directed DOLE to determine positions in certain sectors that could be contracted out.

In compliance with the issuance, DOLE conducted tripartite consultations in the retail; manufacturing; and hotel and accommodation industry.

It, however, opted to defer the release of the list of positions that can be contracted out until the SOT bill, which was later certified as priority bill by President Rodrigo R. Duterte, is signed into law.

“Even if we release it through the EO [51], it [list] will still be open to litigation before the Supreme Court, where it could still be questioned [by employers]. So it is better if there is already a law for it,” Benavidez explained.

Easier determination

NAGKAISA spokesperson and Partido Manggagawa chair Renato Magtubo said the SOT bill aims to finally end the perennial confusion on which positions could be contracted out.

“This will actually mean less hassle for principals...under the usual practice today, since it will allow

them to differentiate between legal and illegal contractualization,” Magtubo said.

The Trade Union Congress of the Philippines (TUCP) said the SOT could also benefit employers by increasing their profit with more productive and loyal workers as well as allow them to do away with “administrative costs” paid to their contractors.

“It will cut down production costs by doing away with ‘Labor-only’ contractors whose financial services charges add 15 percent to the labor costs of employers utilizing such agencies,” TUCP President Raymond Mendoza said in a statement.

Many employers who were found

by DOLE labor inspectors to have engaged in illegal labor-only contracting (LOC) did so since they were not aware of the positions which are considered core and noncore to their businesses.

Benavidez said they expect the passage of the SOT bill to reduce if not eliminate the long litigation period when it comes to the implementation of regularization orders for illegally contracted out workers.

He said it usually takes about six to eight years before the final ruling on a labor-related case is issued.

‘GCash for Good’ targets 100 NGOs in novel ease-of-donating program

By Rea Cu

@ReaCuBM

G

LOBE Fintech Innovations Inc. (Mynt), the operating company behind GCash, is eyeing to help around 100 nongovernment organizations (NGO) by the end of this year, as it launches its corporate social responsibility arm called “GCash for Good.”

At the sidelines of the GCash for Good launch on Friday at the One Canvass Events place in Makati City, Mynt VP for Corporate Communications Reyner Villasenor said he expects the number of NGOs under the GCash for Good program to be around 100 by the end of this year as the program aims to make it easier for NGOs to receive donations. “[Around] a hundred. I won’t discriminate if they are qualified but I will also have to manage expectations because we are not just a payments platform; if you sign up with us, we will campaign with you,” Villasenor said.

The GCash for Good program currently involves 35 NGOs, which are included in the initial batch after com-

pleting their documentation requirements both from the Bangko Sentral ng Pilipinas (BSP) and Mynt before the program was launched.

“We are okay to sign up more partners as we go. Late last night, I got about 20 [more NGOs] that want to join the program...They can be part of the next phases,” he added.

The program aims to make it easier for NGOs to receive donations with the use of the GCash platform or application, with the GCash application envisioned to further develop into a more socially relevant and sustainable platform that will help address issues across different levels in society “We don’t discriminate, whether you are a big or small NGO. Today, what we are launching is the coalition of the willing.

These are the 35 NGOs who responded to our call of giving . . . What we are trying to do here is to leverage on the platform and make sure that giving will be easy for users,” he said.

It was pointed out that more people across the globe prefer to donate online, as this removes the hassle of having to go through long queues and processes. Based on the 2018 Global Trends in Giving report,

54 percent of individuals prefer to donate online. The survey was conducted among 6,057 donors worldwide.

“With GCash we make it easier. We are actually campaigning with them [the NGOs], we are putting up a microsite called thepowerofgood.com.ph. It’s a marketplace for giving. From today up to the end of the year and even up to next year we would want to sustain this moving forward, so you would see us talking about particular issues and advocacies,” he added.

The GCash for Good program also focuses efforts on having a greener country by helping NGOs dealing with the environment. Mynt aims to help strengthen biodiversity conservation efforts of the partner organizations.

“We have a shared vision of creating a lasting . . . positive impact on the environment. With joined hands, we promise to be strong government partners in achieving the Sustainable Development Goals set by the United Nations,” said Mynt President Anthony Thomas.

Villasenor said donations are expected to hit the million mark, with GCash users already at 20 million.

ASF watch: DA probes OFW breach of quarantine Continued from A1

allowing the entry of meat products from ASF-affected countries.

Piñol made the reminder after a recent debacle on the implementation of biosecurity measures as an OFW sought the help of Tulfo’s radio program to recover her confiscated processed meat products.

“I am requesting help from our colleagues in the government, especially from the Bureau of Customs, to implement the memoranda on not allowing the shipment of any pork products in can or processed from ASF-affected countries,” he said.

The DA has banned the importation of meat products from ASFaffected countries and territories, including China, Hong Kong, Vietnam, Cambodia, Belgium, Russia and Ukraine.

The ban also disallows tourists and returning OFWs to bring in pork products from these countries through their checked-in and handcarried luggage.

Tourists and OFWs caught

Mabalasik. . .

Continued from A12

In an earlier interview, Umalla, who hails from Alilem, Ilocos Sur, disclosed that she was only in grade 2 when her father left them. “But I

violating the memoranda could be fined at least P200,000, Piñol reminded “You cannot argue that you do not know about these measures because we have been disseminating this information since August of last year,” he said.

“You cannot argue with the quarantine officers by saying that there are MaLing in the supermarkets; hence, you shouldn’t be apprehended and your pasalubong should not be confiscated,” he added.

Piñol added that they are not targeting OFWs with their measure against ASF over meat products brought in through luggage in air flights.

“We have a long list of confiscated meat products from foreigners. This campaign will not favor anybody may it be the poor or the rich, Filipino or foreigner,” he said.

NONETHELESS, Piñol said the DA together with its attached agencies Bureau of Animal Industry (BAI) and National Meat Inspec-

tion Service (NMIS) would pursue the investigation over the breach of quarantine protocol by the female OFW and Tulfo.

A returning Filipina OFW sought the help of Tulfo’s radio program to recover her pasalubong of 32 cans of MaLing which quarantine officers confiscated at Clark Airport.

Tulfo’s radio program came to the OFW’s help by questioning the quarantine measures being implemented by Clark airport and concerned customs officers.

Tulfo hurled expletives at the government officials, who were just implementing the DA’s memorandum order, and argued that the measure against imported MaLing products was discriminatory.

Tulfo told Clark Airport President Jaime Melo over a phone interview that they should confiscate first the MaLing sold in grocery stores before confiscating the ones being brought in by returning OFWs. The Customs officials, apparently pressured by Tulfo, were forced to return the confiscated

canned goods to the Filipina OFW, which prompted Piñol to pursue an investigation.

“I will be asking our Quarantine Officers with the help of the Philippine National Police to track down the OFW who brought the canned MaLing from Hongkong to Ilocos,” he said in an earlier Facebook post.

Nonetheless, Piñol said what happened was a “serious violation” of the country’s quarantine laws at a time when a dreaded swine disease is ravaging multi-billion hog industries in Asia. For background, please see May 23, 2019 BM Broader Look report, “African Swine Fever spreads to China: Is it time for PHL pork industry to whine?”

However, Piñol admitted that the recent event shows that the government lacks proper and massive information campaign on ASF and its implications.

For one, Piñol added, Tulfo, a veteran broadcaster, could not even distinguish ASF from Foot and Mouth Disease.

feel close to him anyway,” she said, adding that she remembers happy times with him.

Her mother, now a retired school teacher, taught her not to be bitter. More than that, she struggled to raise her and her three brothers alone. Umalla repaid this devotion

by consistently getting her mother onstage to pin her medals as valedictorian. When she first learned she was finishing on top of her PMA class, her first reaction was that she was thrilled that her mother would once again be on stage.

When she was admitted to the

PMA, her one wish was to see her father on recognition day, which his older brother fulfilled by finding him. “ I just embraced him with joy,” she said. Somehow the graduation news reached him and he came to hug once more the daughter he had left as a child.

Investigation

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From communist rebels to Army men: 84 ex-NPAs get private rank

By Rene Acosta @reneacostaBM

A

T least 84 former members of the New People’s Army (NPA) have joined the Armed Forces of the Philippines (AFP) and were given the rank of private following months of rigorous military training.

The new soldiers are among the 275 Army recruits, who graduated from two batches of candidate soldier courses administered by the Army’s 4th Infantry “Diamond” Division.

T he 275 new sold iers, a l l w it h t he r a n k of a pr iv ate, are lumads, for mer members of the Civilian Armed Forces Geographical Unit and former members of the NPA who have yielded to the government.

Capt. Regie H. Go, acting spokesman of the 4th ID, said the Army recruits officially joined the service following a joint closing ceremony late last week in Malaybalay City, Bukidnon.

The new enlisted personnel went through grueling months of training administered by the 4th Division Training School (4DTS), which registered the military’s record-high number of former rebels as trainees.

Go, quoting Lt. Col. Jeff Villanueva, commander of the 4DTS, said that both classes forming the 275 new soldiers, entered the military

training during the fourth quarter of last year and began their Jungle Warfare Mountain Operation Course in April this year.

One of the enlisted personnel whom Go identified through his alias as Rios, reportedly a former vice commander of the NPA operating in Mindanao, thanked the government for giving him and the other former rebels a chance to join the service.

“I have never regretted my decision to return to the folds of the law and so, I call on to those who are still in the mountains, there’s a better life waiting for you here and the NPA will never be able to give you a peaceful life,” Go quoted Rios as saying.

Maj. Gen. Franco Nemesio Gacal, commander of the 4th ID, welcomed the new members of the Diamond troopers.

“You are now officially soldiers, use the skills, knowledge and discipline which you have learned from DTS to protect our fellow Filipinos.

Let us uphold our honor, patriotism and duty to our beloved country,” he told the new soldiers.

“I also congratulate the 4DTS for a job well done. Let us continue to produce world-class soldiers who have burning desires to fight for long-lasting peace in Mindanao,” he added.

Go said the 275 privates will be deployed to the different units of 4th ID in Mindanao.

Editor: Vittorio V. Vitug • Monday, May 27, 2019 A3

NFA rice sold to DSWD, NGOs up by ₧10 per kilo

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE National Food Authority (NFA) will now be selling rice at a higher price of P37 per kilogram to government agencies and private entities, particularly those involved in disaster relief operations, to avert incurring additional losses.

Agriculture Secretary Emmanuel F. Piñol said the NFA Council approved the increase in the price of rice sold to both local and national government agencies and nongovernment organizations (NGOs) by P10 per kilogram from the present P27 per kilogram.

Some of the agencies include the Department of Social Welfare and Development and the Office of Civil Defense, which source from the NFA the rice they distribute in relief operations.

The increase in selling price would allow the NFA to break even

or even earn a peso per kilogram, since the food agency is now producing rice at a higher cost after its buying price for local palay was increased in October 2018, Piñol said.

Piñol added that Filipino consumers in 40 identified poor areas would still have access to P27-perkilogram rice as the NFA will continue to sell the subsidized staple in their areas in line with President Duterte’s directive.

“We will keep our market participation rate at 10 percent in surgical areas. We will not operate in areas where there is a surplus of rice

stocks,” he said in an interview with reporters last week.

“We will focus in net importing provinces and areas, such as Metro Manila, and island provinces. We will continue to release NFA rice to these markets at P27 per kilogram even after we have consumed our imported rice stocks because the President ordered that the poor should still have access to affordable staple,” he added.

The NFA will partner with local government units in establishing “Bigasan ng Bayan” or rice outlets in the 40 identified areas to facilitate faster distribution of staple, Piñol said.

Under the rice trade liberalization law, the NFA has been deregulated and reduced to a buffer stocking agency with its rice supply being sourced only from local farmers.

The NFA’s imported rice stocks will last until September, the end of the lean season or the period when the country has limited palay production, Piñol said.

The NFA has been aggressive in procuring palay from local farmers since its buying price was effective-

ly hiked to P20.70 per kilogram in October 2018.

Earlier, the NFA said it had already 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.

A4 Monday, May 27, 2019 • Editor: Vittorio V. Vitug

Recruitment expert bares 10% HIV affliction among OFWs

By Recto Mercene @rectomercene

A

BOUT 10 percent of overs e a s Fi l ipi no work e r s (OFW) abroad are infected with human immunodeficiency virus (HIV), raising fears that the creeping epidemic may affect their deployment overseas.

The recruitment sector is calling on the Department of Health (DOH) to intensify its regulatory supervision over accredited migrant workers.

A ccord i n g to re c r u it me nt consultant Manny Geslani, the DOH should alert medical clinics to prevent the spread of the virus in the light of reports that infected OFWs are increasing each month.

The recruitment consultant urged the DOH’s Facilities and Regulatory Bureau to intensify their inspection and regulatory powers to screen both land-based and sea-based sectors bound for overseas employment.

He noted that the increasing number of afflicted OFWs as reported by the DOH is a serious concern to the recruitment industry and may lead to the banning of OFWs to some countries if this problem persists in the long run.

Some of these OFWs have been repatriated by their host country after a second medical examination by hospitals abroad have detected the presence of the HIV that causes AIDS or acquired immunodefficiency syndrome.

Geslani said some medical clinics in the country may have insuf f icient and fau lt y tests which may have resulted in negative results. However, further medical examination abroad by

foreign hospitals resulted in positive HIV for the OFWs. “ T hese accred ited med ica l clinics who still report to Gulf Council of Health Ministries [GCC] through the foreign embassies in Manila and controls the medical examinations for the Middle East countries,” he said.

Local medical clinics are heavily penalized for sending unfit workers afflicted with AIDS, STD, faulty xrays and other diseases not acceptable to their countries.

“The medical clinics accredited by the DOH should honestly and accurately examine OFWs referred by licensed agencies since the medical examinations are paid by the OFWs themselves.

In some exceptional cases the recruitment agency pays for the exam, he added.

He said the 64,291 confirmed cases listed in the National HIV/ AIDS Registry as of February, represents 10 percent of the OFWs in the registry who had worked abroad within the past five years, either on land or at sea.

Of the 6,433 OFWs in the registry, 86 percent, or 5,553, were male with the median age of 32. The 880 female OFWs in the registry had a median age of 34.

Of the male OFW cases, 72 percent were found infected via sexual contact among MSM, or men who have sex w ith men (2,328 from male-to-male sex and 1,674 from sex with both males and females).

HIV causes AIDS, which destroys the human body’s natural ability to fight off all kinds of infections.

Though the condition still does not have any known cure, antiretroviral therapy has been known to kill the virus.

Federal advocate takes helm at MinDa

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AVAO CITY—An advocate for federalism has been appointed caretaker of government’s socioeconomic planning unit for Mindanao, to replacing its late chairman who succumbed to cardiac arrest on May 9.

Malacañang designated Assistant Secretary Nathaniel D. Dalumpines of the Office of the President as the new officer in charge of Mindanao Development Authority (MinDA), succeeding the late Secretary and former Chairman Datu Abul Khayr Alonto.

Executive Secretary Salvador C. Medialdea signed the appointment on May 20 upon the instruction of President Duterte.

A MinDA statement dated May 24 said that apart from his designation as acting MinDA secretary, Dalumpines “retains his present duties and functions as assistant secretary for Mindanao Concerns under the Office of the President.”

Dalumpines, a lawyer, held the position of chief of staff of the Davao City mayor’s office during the incumbency of Duterte as mayor from 2014 to 2016.

He was the administrative manager of the Desiderio Dalisay Group of Cos. in the mid 1970s and early 1980s in Davao City before migrating to the US. While in the US, he worked with a Philippine newspaper in Los Angeles and San Francisco in the mid 1980s as a features editor and became the Los Angeles bureau chief of Philippine News owned by

the Esclamado group.

In 1985, he was elected as charter president of Davaoeño residents in Los Angeles. In the 1990s, Dalumpines, who was already a lawyer, was employed as legal assistant at the Jaime V. Lopez law firm in Mid Wilshire Boulevard also in Los Angeles.

He returned to his home city in Davao in 2001, and being an avid sportsman, was appointed sports consultant for the City of Davao.

He was a former president of the Bomberos de Davao Athletic Club, an association of executives, businessmen and professionals engaged in sports.

He was appointed member of the legal task force of Southern Philippines Development Authority in Catalunan Pequeño. Currently, he is the legal consultant for the heirs of the late Vicenta M. Tionko.

Dalumpines is also a member of the Davao Region Federal group, recognized as a platform of federal groups to discuss, review and contextualize issues related to the federalism drive.

As acting secretary of MinDA, Dalumpines is expected to ensure and continue the delivery of public service and pursue the socioeconomic mandate of MinDA. He would serve as the Philippine signing minister for the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asian Growth Area (BIMP-Eaga). MinDA acts as the Philippine Coordinating Office for the BIMP-Eaga. Manuel T. Cayon

Economy BusinessMirror

www.businessmirror.com.ph

DOF eyes TradeNet inclusion of five govt agencies to boost EODB drive

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By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) is eyeing to link at least five government agencies under the TradeNet platform on or before the end of 2019, as the government aims to strengthen the Ease of Doing Business (EODB) in the country.

Finance Undersecretary Gil S. Beltran told reporters that the government wants at least five more agencies to be using the TradeNet platform this year, as it envisions to connect all 76 government agencies under the platform by 2022.

“At least five [government agencies] should be added before the end of the year. It’s just that before an agency goes online, there are things they have to do like issue a manual so that the private sector, individuals and corporations know what to do,” Beltran said.

The Philippine Drug Enforcement Agency (PDEA) is the only govern-

ment agency connected under Tradenet.gov.ph at the moment.

“One entity [which is PDEA] is already using it, [and that] all the chemical companies that import and export products go through it. All the 76 agencies, by 2022, they should all be connected or that agency will be removed from the list of regulators,” the finance official added.

Beltran, who is also the anti-red tape czar of the DOF, pointed out that some government agencies are slow to act on their respective connection to the trade facilitation platform as some are being bribed to sit on the completion of the documentary requirements

needed to connect to the platform.

“The agency is slow [in connecting] because that’s understandable they earn from it. When you are empowered to implement a process and you sit on it, what do you do?

If the person sitting on it because somebody offers a certain amount, which is what we want to eradicate the bribery part,” he said.

He also explained that the implementation of the EODB law will help more government agencies connect to the platform as it mandates a three day processing period for the transaction of simple documents.

Although the implementing rules and regulations for the EODB law has already been crafted, the implementation of EODB hobbled by the still pending appointment of the head of the Anti-Red Tape Authority (Arta).

The Arta head’s signature is needed for the IRR. “We’ll just have to wait. The IRR is already finished, they are just waiting for someone to sign it. Once the head is appointed, it will be signed right away,” he added.

In March, the DOF said that the TradeNet platform is seen to address the rise in export and import data discrepancies, which

reached 30 percent in 2018 from only 24.8 percent in 2016.

Based on an economic bulletin of the DOF, data collection should be improved to address the rise in the gaps, and, thus, enhance the capabilities of revenue collectors, as well as trade facilitation.

Data from the International Monetary Fund (IMF) Direction of Trade Statistics pointed out that total trade to the Philippines for 2018 amounted to $240.901 billion, $220.115 billion in 2017 and $193.130 billion in 2016.

Meanwhile, data from the Philippine Statistics Authority (PSA) showed that total trade for 2018 amounted to only $176.417 billion, $164.806 billion in 2017 and $141.514 billion in 2016.

This showed a discrepancy in trade data amounting to $64.485 billion for 2018, $55.309 billion in 2017, and $51.616 billion in 2016.

TradeNet is the government’s digital import and export permit platform which aims to link 76 trade regulatory government agencies through a common database, and shorten the processing of transactions for import and export clearances. It is also the Philippines connection to the Asean Single Window.

Panabo City, Prime Water officially DepEd opens SHS VP for 2019-2020 begin partnership on June 1

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AVAO CITY—The Panabo City Water District has officially informed city residents that its partnership with a private water solution provider starts on June 1, and that official transactions that include statement of account and bill payment should be coursed through the latter.

In a letter it circulated to barangay residents, the water district office said that, “effective June 1, Panabo City Water District is in partnership with Prime Water Infrastructure Corp. for the financing, development, rehabilitation, expansion, improvement, operation and maintenance of the water-supply sytem.”

It letter added that starting on June 1 also, all statement of account and payments “will be made through Prime Water.” All check payments should also be made payable to Primewater Infrastructure Corp., it added.

The partnership agreement was earlier signed on March 14.

The agreement, likewise, includes septage-management system in the city.

“This is the solution to the concern on the water supply in the downtown area,” the Panabo City Water District said. It also assured that Mayor Engr. James Gamao and Vice Mayor Janrey Gavina have supported the agreement “after the city received numerous complaints on the [water-supply] service.”

Dominador Casiño, chairman of the board of the water district, also earlier conceded to the limited capacity of the local water district and said there had been complaints of insufficient water supply, especially with the increasing population and economic activities.

Prime Water Managing Director Caroline Cadeliña said that they are investing P3 billion in the next 25 years. In the first year, P200 million will be allocated as they will prioritize the improvement of treatment facilities and water quality in the city.

She further stressed that improv ing the water system in Panabo will entice more investors, resulting to economic growth and better living standards of the locality. Manuel T. Cayon

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HE Department of Education (DepEd) on Sunday announced the opening of the Senior High School Voucher Program (SHS VP) for school year 2019-2020.

The SHS VP, which is being run in coordination with the Private Education Assistance Committee (PEAC), is a financial assistance prog ra m to en able qu a l i f ied Grade 10 completers to pursue their desired SHS education in private schools, state universities and colleges (SUCs), and local universities and colleges (LUCs) that offer SHS. All Grade 10 completers in private schools who are not Education Service Contracting (ESC) grantees and wish to avail themselves of the voucher subsidy in order to enroll in a non-DepEd SHS have until May 31 to apply manually and June 2 to apply online.

For manual applications, the

Voucher Application Form 1 (VAF-1) must be filled out and submitted or personally mailed, together with the complete requirements, to the PEAC National Secretariat at the fifth floor of Salamin Building, 197 Salcedo Street, Makati City, on or before May 31.

Online applicants, meanwhile, shall have only until May 31 to create accounts on the Online Voucher Application Portal through ovac. peac.org.ph. Applicants shall be allowed to submit the filled out form and scanned copy of complete requirements until June 2 only.

Applications submitted after the deadline will not be accepted.

Grade 10 completers from public schools, LUCs and SUCs, as well as Grade 10 completers from private schools who are ESC program grantees, are automatically qualified for the SHS VP and need not apply.

The SHS VP is one of several initiatives of the government to make basic education accessible and affordable for Filipino learners nationwide.

Results of the applications will be announced on June 17.

Claudeth Mocon-Ciriaco

Council finds wisdom to revive Lopez-era resource co-mgmt project

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HE Palawan Council for Sustainable Development (PCSD) is reviving its bid to implement an integrated natural resource management project to enhance, protect and regenerate Palawan’s natural treasures within a period of 10 years.

The “Palawan Integrated Natural Resources Management Project,” which includes a comanagement agreement between the PCSD led by the Provincial Government of Palawan and the Department of Environment and Natural Resources signed by then-Secretary

Regina Paz L. Lopez, was put on hold in May 2017 after the Commission on Appointments rejected Lopez’s appointment to the DENR. Interviewed by the BusinessMirror during a media tour organized by USAID for its Protect Wildlife Project in Palawan, PCSD Executive Director Nelson Devanadera said he is set to meet with DENR officials and has met with DENR Undersecretary Rodolfo Garcia to kick off exploratory talks that would lead to the proposed project’s revival and implementation.

This was confirmed by DENR Assistant Secretary for Staff Bureaus and newly appointed Director of the Biodiversity Management Bureau (BMB) Ricardo L. Calderon in a telephone interview.

“We will sit down with PCSD to talk about the details of the project,” Calderon said. The Palawan Integrate Natural Resources Management Project was crafted by Devanadera, a former BMB assistant director along with Calderon who once held the position of Forest Management Bureau chief and

national coordinator of the National Greening Program.

Under the proposed project, a total of 34,200 hectares is earmarked for reforestation, with around 30,000 hectares for enrichment planting and for production forests, plus around 4,200 hectares of mangrove forests.

The project will require a P25.4billion budget for 10 years, with the bulk of the proposed budget allocated for revegetation, housing and settlement, and livelihood and employment generation. Jonathan L. Mayuga

BI arrests six undocumented aliens in separate operations in Davao province

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HE Bureau of Immigration (BI) on Sunday announced the arrest of six illegal aliens in separate operations in the past few days in Davao province as part of the agency’s continuing drive against undocumented foreign nationals staying in the country.

The six illegal aliens are identified as Indonesian nationals Jim-

birs Da Lema and Supian Undingan; Sri Lankan national Warnakula Weerasuriya Jayathilaka a.k.a.

Anton Rowel; Korean national Kim Yoonsig; and American Branden Fitzgeral Dandridge.

Immigration Commissioner Jaime Morente said the illegal aliens were arrested in separate operations conducted by the bureau’s Mindan-

ao Intelligence Task Group (MITG) based in Davao City.

Morente said they are now undergoing investigation by the BI prosecutors in Davao City.

Da Lema and Undingan were arrested on May 15 in General Santos City by MITG operatives led by BI intelligence officer Melody Gonzales.

The two were earlier arrested by

the Criminal Investigation and Detection Group Sarangani RFU for selling fake local cigarettes.

The following day, BI operatives arrested Ayathilaka in Tagum City, Davao del Sur based on a complaint alleging that he is an undocumented and an overstaying alien.

On the same day, MITG operatives also arrested Korean national

Kim Yoonsig also in Tagum City who has been in the BI’s blacklist for being undocumented.

On the other hand, Dandridge was arrested by BI authorities at a popular wakeboarding resort in Davao City also for being undocumented.

Co, who has been overstaying in the country for eight years, was arrested in Cagayan de Oro City on May 20.

“The apprehension of these illegal aliens stemmed from complaints we received regarding the activities of these undesirable foreigners in various places in the South. Hence we encourage the public to report to us the presence of any illegal alien in their areas, and they are assured that these reports will be acted upon,” Morente said. Joel R. San Juan

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, May 27, 2019 A5

GOCC’s crop insurance covers more than 2-M farmers, fishers

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE Philippine Crop Insurance Corp. (PCIC) said its cropinsurance coverage in 2018 expanded by more than a third to nearly P80 billion to a record high of more than 2 million farmers and fishermen.

T he PC IC , a gover n ment owned and -controlled corporation (GOCC), said its total crop-insurance coverage last year reached P79.820 billion, 36.53 percent over the P58.465 billion it was able to provide in 2017.

The PCIC added it was able to insure 2.27 million farmers and fishermen last year, which was 33.52 percent over the 1.7 million it covered in 2017.

“The assets covered included for the most part rice, corn and high-

value crop farms totaling 1.845 million hectares in 2018, which is 39.04 percent greater than the 1.327 million insured in 2017,” the GOCC said in a statement on Sunday.

PCIC President and CEO Jovy C. Bernabe pronounced last year the PCIC aims to cover some 25 percent of the country’s total number of farmers, pegged at 10 million.

Bernabe added they would extend P65.1 billion worth of free crop-insurance coverage to more

than 2 million farmers and fishermen to help them cope with the ill effects of climate change on farm production.

The PCIC, a GOCC under the Department of Agriculture, also said it has paid out last year P3.397 billion worth of indemnities to more than 442,035 farmers and fishermen.

The total figure of indemnification payment was 75.37 percent over the P1.937 billion it paid in 2017, the PCIC added.

“Most insured farmers and fisherfolk numbering 442,035 received the pay ments in 20 days or less according to PCIC’s i mprove d a nd I SO - cer t i f ie d systems,” it said.

“The PCIC’s delivery of this gargantuan task, spread as its service is nationwide, was helped in part by the collective commitment of its management and staff to abide by strict operational policies and governance rules,” it added.

Unrelenting rain puts US farmers on insurance-deadline watch

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ANSAS farmer Mark Nelson has until Saturday to plant his corn or lose the insurance that protects him from a drop in prices or yield. Instead, he’s hopping on a plane to visit his father in Chicago.

Nelson is now considering a different type of insurance coverage known as prevented-plant claims, which pay out when farmers are unable to sow crops at all. With unceasing rain keeping farmers out of fields, growers are increasingly weighing how best to get paid and ease the impact from the bad weather and an escalating US-China trade war.

“You hate to farm for insurance, but in a year like this, you

keep that in the back of your mind,” Nelson, whose farm is near the east-central town of Paola, said by phone.

Storms across the Midwest and Great Plains have resulted in the wettest 12-month stretch on record in the US, with the deluge closing refineries and snarling Mississippi River traffic. Crucially for agriculture markets, it’s also hampered crop planting. Worries over tighter supplies due to the soggy weather drove Chicago corn futures to surge as much as 3.9 percent on Friday, topping $4 a bushel and rising to the highest level in almost a year.

The wet weather’s showing no signs of easing, and the in-

sura nce dead l ine for sow ing has a lready passed for some farmers in southwestern Missouri, southeastern Kansas and western Tennessee. They now have to decide whether to plant w it h less coverage, or m a ke prevented-plant claims.

Fur ther complicating matters is President Donald Trump’s a n nou nce me nt on T hu rsd ay that farmers could apply for a slice of a $16-billion aid package to mitigate the impact of the US-China trade war.

However, in order to qualify, farmers must plant crops. Then, payments will depend on production in the county.

T he Sen ate a l so pa ssed a $19.1-billion natural disaster re-

lief package that includes $3 billion related to the loss of crops in recent hurricanes, flooding and for seeds prevented from planting this year.

A Republican House member temporarily blocked fast-track passage, meaning law ma kers will probably vote when they retur n in early June f rom a weeklong recess.

Farmers unable to plant have been estimating which government-backed program might pay the most.

Nelson only has 400 acres of corn planted and 1,700 more to go.

He loses all insurance protection on corn if not planted by June 14, and if that happens, he’s considering switching some ground to

soybeans, which can be planted later without risking a crop loss in an early freeze.

After the deadline, farmers can choose to switch to a second crop. But that’ll reduce the amount they will receive from the prevented-plant claim on the first crop. “I talked with my crop insurance agent to make sure I knew all the scenarios,” Nelson said. “Until June 14, we’ve got the option to still plant and get some coverage.”

Moving on

BMO Capital Markets equity analyst Joel Jackson said the lack of plantings have also weighed on demand for agriculture chemicals and fertilizers.

“We’ve seen views projecting at least 5 million corn acres will not be planted,” he said in an emailed report.

The US Department of Agriculture in March estimated corn planted acres at 92.8 million.

Iowa corn and soybean farmer Kyle Wendland has planted most of his crops, but was leaning toward making a prevented-plant claim for his final 80 acres of corn due to wet conditions. The government aid payments will not be a big swing factor, he said.

“I’m not going to mud my crop in just to get an unknown payment.

I will take the known insurance payment and move on,” Wendland said. Bloomberg News

BusinessMirror

A6 Monday, May 27, 2019

www.businessmirror.com.ph

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT

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Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 May 27, 2019

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s.

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

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K & K MOLDING , INC. Lima Technology Center, Lipa City, Batangas

MR. YUJI KOIKE/ Japanese

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JP BUSINESS VENTURES AND DEVELOPMENT CORPORATION #29 Brgy. Upli, Alfonso, Cavite

MR. BYUNGTAE PARK/ Korean

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QUANTRICS ENTERPRISES INC. Brgy. Dolores, Taytay, Rizal

MR. VICTOR H LOO/ Canadian

Vice President-Human Resources

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QUANTRICS ENTERPRISES INC. Brgy. Dolores, Taytay, Rizal

MS. LAINA MARITA ALDAVE/ Canadian

Vice President-Controller

Factory General Manager

General Manager

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EPOLEM PHILIPPINES CORP. Brgy. Langkaan, Dasmariñas, Cavite

MR. XIAOLIANG SUN/ Chinese

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EPOLEM PHILIPPINES CORP. Brgy. Langkaan, Dasmariñas, Cavite

MS. BEI JIN/ Chinese

TAIYUAN GASES CORPORATION Paliparan I, Dasmariñas, Cavite

MR. SHAO-HSUAN HSU/ Taiwanese

Production and Planning Control Supervisor

TAIYUAN GASES CORPORATION Paliparan I, Dasmariñas, Cavite

MS. YUN-PING TANG/ Taiwanese

Accounting Department Supervisor

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Production Manager Sewing Supervisor

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FUNAI ELECTRIC PHILIPPINES INC. Lima Technology Center, Lipa City, Batangas

MR. JUNICHI YAMAMOTO/ Japanese

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MONDE NISSIN CORPORATION Brgy. Balibago, Sta. Rosa, Laguna

MR. MICHAEL JOHN PASKA/ American

Investor Relations Director for Global Reach

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MASCOTPOWER LOGISTICS CORPORATION Lot 5 Southcoast Industrial Estate, Carmona, Cavite

MR. LI-HSIN TSENG/ Taiwanese

General Manager

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K&D MOLD-TECH CORP. CPIP, Batino, Calamba City, Laguna

MR. HAN-JU LEE/ Korean

Mold Design Specialist

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TAIWAN FRUCTOSE (PHILIPPINES), INC. FPIP, Tanauan City, Batangas

MR. LIEN-KUANG WANG/ Taiwanese

Sales Manager

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. DAOXIONG CHEN/ Chinese MR. YUANYUAN YUAN/ Chinese MR. GUANGQIU LIN/ Chinese MR. XUEEN YAN/ Chinese MR. PENG LI/ Chinese MR. LINGYI XU/ Chinese MR. XIAOFEI LIU/ Chinese MR. YINWANG LIN/ Chinese MR. GUOKAI TANG/ Chinese MR. MINGXUAN XIA/ Chinese MR. LONG LU/ Chinese MR. ZHILIN ZHANG/ Chinese MS. MENGLAN SHEN/ Chinese MR. CAIGEN YANG/ Chinese MS. QING LI/ Chinese MS. RONGHUA WU/ Chinese MR. MENGZHE XIA/ Chinese MR. DEGAO YOU/ Chinese MR. SHENGZHANG WANG/ Chinese MR. JIAYAN ZHANG/ Chinese

Plant Manager

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Chinese Customer Service Representative

Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

Chinese Customer Service Representative

MR. XUETENG LI/ Chinese MR. QIANG WEI/

MR. YINLONG TIAN/ Chinese MS. YUNQING WU/ Chinese MR. HAILONG HU/ Chinese MR. ZHIWEN TONG/ Chinese MR. WENFANG TAN/ Chinese MR. RONGMING FENG/

MR. CHANGCHANG CHEN/ Chinese Mr. ZONGLIAN JIANG/

Ms. MING ZHANG/ Chinese Mr. HONGJING YANG/ Chinese Mr. YUHANG YANG/ Chinese Mr. LINBO WANG/ Chinese Mr. JINLONG ZHAO/ Chinese MR. ZHIYANG GAO/ Chinese MR. XINGWANG CHEN/

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese MS. FANG TIAN/

Chinese Customer Service Representative

Chinese MR. ZHIPENG WEI/ Chinese MS. LING XU/

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese MR. CAISEN WU/

Chinese Customer Service Representative

Chinese MR. GUOQIANG SHI/ Chinese MR. HUANHUI QIN/ Chinese Mr. XIAONI ZHANG/ Chinese Mr. LEE CHEE YONG/

Chinese

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese

MR. GONGMIN FENG/

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese

Malaysian

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Chinese Customer Service Representative

Chinese

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Chinese Customer Service Representative

MS. PENGYAN ZHAO/

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Chinese Customer Service Representative

Chinese Customer Service Representative

Chinese Customer Service Representative

Malaysia Customer Service Representative

Chinese Customer Service Representative

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication.

Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007115

The World BusinessMirror

www.businessmirror.com.ph

China official: Huawei ban disrupts chip makers’ market

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HINA called the US export ban on Huawei Technologies Co. a rough disruption to the chip-making market and vowed to further open its industrial sector for foreign investment.

“The US has roughly interfered in the integrated circuit sector’s global market order with a groundless accusation,” Wang Zhijun, vice head of the Ministry of Industry and Information Technology, said in an interview on state broadcaster China Central Television, discussing the US placing Huawei on an export blacklist. “The big irony is that US has always paraded itself as being a market economy.”

Wang urged the US to stop the “unreasonable suppression” of China’s integrated circuit and electronic companies, and return to a fair and normal environment for Chinese companies to operate and invest globally, including in the American market.

China will continue to open for foreign investment its airline, shipping, automobile and telecommunications industries. The government also will narrow the list of sectors closed to foreign investment. It will expand areas that encourage investment and speed the implementation of large foreign investment projects, Wang said. Bloomberg News

Editor: Angel R. Calso • Monday, May 27, 2019 A7

Crowded race for UK May’s job; Gove, Leadsom, Hancock jump in

T

HE rush is on to replace UK Prime Minister Theresa May, who resigned after failing to deliver on Brexit. Things got more crowded on Saturday with Cabinet ministers Michael Gove and Matt Hancock and former House of Commons leader Andrea Leadsom signaling their intent to run.

Gove, the environment secretary and a staunch Brexiteer, is telling colleagues he’s the best person to complete the exit from the European Union, according to two newspapers.

Leadsom, who quit her post three days ago, will also run, a spokesman said. Former Brexit Secretary Dominic Raab declared his intent in a commentary in the Mail on Sunday, while Health Secretary Matt Hancock announced his candidacy on Sky News.

“We must deliver Brexit, and I will deliver Brexit,” Hancock said on Sky. “We need to move this country forward.”

The latest candidates join former

Foreign Secretary Boris Johnson, his successor Jeremy Hunt, International Development Secretary Rory Stewart, and former Works and Pension Secretary Esther McVey as potential successors to May, according to the BBC.

Front-runner Johnson

JOHNSON, a former mayor of London, has emerged as a front-runner in the contest for the leadership post triggered when May announced her plans on Friday. The outcome will shape the direction of Brexit with all options, including leaving without a deal, back on the table. May will

divisive figure nationwide. He’s expected to announce his candidates on Sunday night.

Backstabbing traitor

THERESA MAY BLOOMBERG

stand down as Conservative Party leader on June 7.

Gove has told Conservatives in Parliament that he is the best candidate to take on opposition Labour Party leader Jeremy Corbyn, and take over the government to deliver on Brexit, according to the Sunday Telegraph. He notes his role in running three government departments: education, justice and environment.

Gove, 51, is a longtime Brexiteer, unlike other, more recent converts, which will satisfy the Tory grassroots. His public loyalty to May, and a House of Commons speech ridiculing Corbyn, have put him in poll position as a unity candidate among Conservatives, though he’s a

THE contest could reignite a fight between Johnson and Gove, who was characterized as a backstabbing traitor in newspaper cartoons after he withdrew his support from Johnson, a longtime friend, to seek the Tory leadership himself in 2016.

Leadsom, 56, who worked in financial services before entering Parliament, backed May’s blueprint for leaving the EU and had been supportive until the premier recently offered Parliament a chance to vote for a second referendum. Her resignation over May’s Brexit strategy will do her chances no harm among the Tory grassroots. Raab, 45, writing in the Mail on Sunday, declared he would “demonstrate unflinching resolve” to leave the EU. “The country now feels stuck in the mud, humiliated

by Brussels and incapable of finding a way forward,” he said. “It’s time for a new direction.”

Art of the deal

IN an interview with the Sunday Times, Hunt, 52, said his own background as an entrepreneur makes

him best qualified to negotiate a new deal with Brussels. He vowed to slash the corporation tax to 12.5 percent, equal to the lowest rate in Europe, and declared: “Doing deals is my bread and butter,” according to the Times. Hunt campaigned to stay in the EU before announcing he’d changed his mind.

Johnson, 54, who quit the Cabinet in protest at May’s Brexit compromise plan last year, has been railing against her “surrender” ever since in well remunerated columns for the Daily Telegraph. His role in the Brexit referendum of 2016 was decisive and he’s popular among grassroots activists. He’s also built up the biggest war chest.

Chancellor to the Exchequer Philip Hammond and Amber Rudd, the works and pensions secretary, have signaled they could back Johnson, the Telegraph reported, citing interviews and people familiar with the matter. Stewart told the BBC he wouldn’t serve under Johnson because of his support for a no-deal exit.

Britain has until October 31 to agree to a deal with the 27 other member-states. Otherwise, the UK could leave with no agreement to cushion the economic blow.

Bloomberg News

Green Monday BusinessMirror

A8 Monday, May 27, 2019

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

Philippine eagles Geothermica and Sambisig to be loaned to Singapore

Ambassadors for Philippine biodiversity

O

Story by Jonathan L. Mayuga @jonlmayuga

n June 4, a pair of captive-bred Philippine eagles will fly to Singapore as part of a Wildlife Loan Agreement (WLA) entered into by the Department of Environment and Natural Resources (DENR) and Wildlife Reserves Singapore (WRS), Singapore’s leading wildlife conservation organization.

Environment Secretary Roy A. Cimatu and WRS Deputy Executive Officer Cheng Wen-Haur signed the agreement highlighting a first of such agreement for the critically endangered Philippine eagle (Pithecophaga jefferyi), the country’s national bird.

Only about 400 pairs of the eagles are left in the wild, owing to the massive habitat loss and hunting for food and trophy.

50 years of friendship

Witnessed by Gerard Ho Wei Hong, the ambassador of Singapore to the Philippines, and Joseph del Mar Yap, the Philippine ambassador to Singapore, the signing of the WLA on May 20 marked 50 years of friendship between the Philippines and Singapore.

“Sending [the Philippine eagles named] Geothermica and Sambisig to Singapore acts as a biodiversity measure to ensure the survival of the species and as a fallback population in the event of catastrophic events like disease outbreaks or extreme natural calamities taking place in their Philippine habitats,” Cimatu said during a news conference after the signing of the WLA at the DENR Central Office.

For his part, Wen-Haur expressed his gratitude to the DENR for entrusting the Philippine eagle to the WRS, as an act of friendship that will strengthen the relationship between the two countries.

“The loan of the eagles this year is especially symbolic as it coincides with the 50th anniversary of friendship between the Philippines and Singapore,” he said.

Mutual benefits

DENR Assistant Secretary for Staff Bureaus Ricardo Calderon said the Philippines and Singapore are mutual beneficiaries of the WLA. “For the Philippines, it will receive technical assistance for the possible release of any progenies of the loaned eagles; the promotion of the Philippine eagle to international visitors of the Jurong Bird Park; and capacity building through staff exchanges in the areas of management; research to be agreed with WRS; and technical support for in-country activities for the duration of the WLA from WRS,” he said.

Calderon said for WRS, having the Philippine eagles means the opportunity to showcase one of the rarest and largest eagles in the world as among the attraction of the Jurong Bird Park.

“It will also benefit from the capacity building of WRS staff on wildlife management through staff exchange to be agreed with the DENR and PEF [Philippine Eagles Foundation] having been successful in its captive-breeding program,” he said.

Lastly, he said the partnership provides an avenue to broaden its outreach and partnership with like-minded organizations in Southeast Asia in pursuit of its corporate mission.

Ambassadors of Philippine biodiversity

Staying indefinitely at the Jurong Bird Park for the purpose of conservation through captivebreeding, the Philippine eagles, Geothermica and Sambisig, both

The Philippine eagles that the government will loan to Singapore are the male Geothermica (left) and female Sambisig. Philippine Eagle Foundation

captive-bred and raised by the PEF at the Philippine Eagle Center (PEC) in Davao City, will play a crucial role as ambassadors of Philippine biodiversity, the DENR chief said.

“The Philippine eagle is an ideal ambassador of Philippine biodiversity, perfect for the purpose of generating awareness on the urgent need for conservation,” Cimatu said.

The 15-year-old Geothermica, a male, hatched on January 7, 2004, is an offspring of Junior and Kahayag from Mindanao.

The female eagle, Sambisig, on the other hand, is currently 17 years old. It was hatched on November 17, 2002. Sambisig’s parents are Sam and Diamante, the most prolific pair in the PEC. The DENR chief underscored the need to increase the global awareness about species conservation, in time for the celebration of the International Day of Biological Diversity.

Cimatu said the program also aims to stimulate international support for an in situ, or original site, conservation program for the Philippine eagle, along with a biosecurity measure against risks arising from potentially catastrophic events such as disease outbreaks that could wipe out the population

of the Philippine eagle.

Insurance policy

During the press conference, Dennis Salvador, executive director of PEF, the DENR’s conservation partner since the 1990s, said sending Geothermica and Sambisig to Singapore is a sort of an insurance policy to save the species from extinction in case of a disease outbreak.

He noted that the Philippines was recently hit by the deadly avian inf luenza virus or the bird flu virus, and it was only recently that the country was declared bird f lu-free by the Department of Agriculture.

Fortunately, he said the Philippine eagle population is unaffected by the virus.

“Otherwise, the population of the Philippine eagle would have been wiped out already,” he said.

WRS track record

The W R S pr ides it se l f a s a collection-based conser vation organization.

According to Wen-Haur, the WLA will see a long-term active partnership between the Philippines and Singapore to protect and breed the Philippine eagle outside its native country.

The Philippine eagle is an ideal ambassador of Philippine biodiversity, perfect for the purpose of generating awareness on the urgent need for conservation.”—Cimatu

Washington is 1st state to allow composting of human bodies

S

EATTLE—Ashes to ashes, guts to dirt.

Gov. Jay Inslee signed legislation last week making Washington the first state to approve composting as an alternative to burying or cremating human remains.

It allows licensed facilities to offer “natural organic reduction,” which turns a body, mixed with substances, such as wood chips and straw, into about two wheelbarrows’ worth of soil in a span of several weeks.

Loved ones are allowed to keep the soil to spread, just as they might spread the ashes of someone who has been cremated—or even use it to plant vegetables or a tree.

“It gives meaning and use to what happens to our bodies after death,” said Nora Menkin, executive director of the Seattle-based People’s Memorial Association, which helps people plan for funerals.

Suppor ters say the method is an environmentally friendly alternative to cremation, which releases carbon dioxide and particulates into the air, and conventional burial, in which people are drained of their blood, pumped full of formaldehyde and other chemicals that can pollute groundwater, and placed in a nearly indestructible coffin, taking up land.

“That’s a serious weight on the Earth and the environment as your final farewell,” said

Katrina Spade, the founder and CEO of Recompose, a company that hopes to use composting as an alternative to burying or cremating human remains, poses for a photo in a cemetery in Seattle on April 19, as she displays a sample of compost material left from the decomposition of a cow using a combination of wood chips, alfalfa and straw. AP/Elaine Thompson

Sen. Jamie Pedersen, the Seattle Democrat who sponsored the measure.

He said the legislation was inspired by his neighbor: Katrina Spade, who was an architecture graduate student at the University of Massachusetts, Amherst, when she began researching the funeral industry.

She came up with the idea for human composting, modeling it on a practice farmers have long used to dispose of livestock.

She tweaked the process and found that wood chips, alfalfa and straw created a mixture of nitrogen and carbon that accelerates natural decomposition when

a body is placed in a temperature- and moisture-controlled vessel and rotated.

A pilot project at Washington State University tested the idea last year on six bodies, all donors who Spade said wanted to be part of the study.

In 2017, Spade founded Recompose, a company working to bring the concept to the public. It’s working on raising nearly $7 million to establish a facility in Seattle and begin to expand elsewhere, she said.

State law previously dictated that remains be disposed of by burial or cremation. The law, which takes effect in May 2020, added composting as well

as alkaline hydrolysis, a process already legal in 19 other states. The latter uses heat, pressure, water and chemicals like lye to reduce remains.

Cemeteries across the country are allowed to offer natural or “green” burials, by which people are buried in biodegradable shrouds or caskets without being embalmed.

Composting could be a good option in cities where cemetery land is scarce, Pedersen said. Spade described it as “the urban equivalent to natural burial.”

The state senator said he has received angry e-mails from people who object to the idea, calling it undignified or disgusting.

“The image they have is that you’re going to toss Uncle Henry out in the backyard and cover him with food scraps,” Pedersen said.

To the contrary, he said, the process will be respectful.

Recompose’s web site envisions an atrium-like space where bodies are composted in compartments stacked in a honeycomb design. Families will be able to visit, providing an emotional connection typically missing at crematoriums, the company says.

“It’s an interesting concept,” said Edward Bixby, president of the Placerville, California-based Green Burial Council. “I’m curious to see how well it’s received.” AP

“We have specially curated populations of animals in our parks in Singapore, which are taken care of professionally and scientifically with the ultimate goal of ensuring their survival on this planet,” he said.

Currently, he said WRS supports over 30 field conservation areas in Southeast Asia, mainly through funding and capacitybuilding initiatives.

WRS has also worked closely and supported various nongovernment organizations in the protection of several species in the Philippines. For birds, these are the Luzon bleeding-heart, the Mindanao bleeding-heart, the critically endangered Philippine cockatoo, southern rufous hornbill, Luzon hornbill, yellow-breasted fruit dove and the coleto.

WRS is also working for the conservation of nonavian species like the Palawan forest turtle and the Palawan pangolins, both critically endangered species.

Jurong Bird Park

The pair of Philippine eagles will be a big addition to the Jurong Bird Park, a 20-hectare hillside haven for close to 3,500 birds across 400 species, of which 20 percent are threatened.

Famous for its large and immersive walk-in aviaries, such as Lory Loft, Jungle Jewels, Waterfall Aviary and the recently revamped Parrot Paradise, the Jurong Bird Park is the first in the world to breed the Malayan black hornbill in 1995 and the 12-wired birdof-paradise in 2001, for which it received the Breeders’ Award from the American Pheasant and Waterfowl Society.

WLA terms and conditions

The PEF has a successful captive-breeding program and has so far produced 28 eagles since the 1990s. However, some eagles that were released into the wild are often captured, if not injured, or worse, shot to death by hunters in recent years.

A Philippine eagle can reproduce once every two years, and as they pair for life, with the shrinking forest canopy ideal for their survival, raising a chick is a big challenge. A Philippine eagle pair needs at least 7,000 hectares to

13,000 hectares of thick, healthy forests to survive.

Under the Philippine-Singapore WLA, the Philippine eagle pair and their offspring will remain a property of the Philippines and shall only for conservation breeding, public awareness, education and other conservation-oriented pur poses. T hey shall not be used for commercial purposes, including biomedical or commercial research.

The WRS, as part of the deal, is also committed to make available an annual conservation fund amounting to $20,000 with an annual increment of 10 percent, and shall promote and coordinate staff exchanges for training and capability building in the areas of animal husbandry, veterinary management, animal welfare, designs, zoo, education and marketing.

Bigger cage, meat diet

Interviewed by the BusinessMirror, Salvador said Geothermica and Sambisig will have access to a bigger cage under the care of the WRS, including better fresh-meat diet.

A Philippine eagle needs to consume at least 300 grams of fresh meat.

Out in the wild, Philippine eagles hunt for prey, making survival difficult in a territory with lesser prey to feed on.

F l y i n g l e mu r s , mo n k e y s , snakes, lizards, rats and civet cats are among their favorites.

A crown jewel

According to Cimatu, the Philippine eagle is considered the crown jewel of Philippine biodiversity and an integral part of the country’s rich heritage.

“As our national bird, it embodies our aspiration to soar high as a nation. On the global stage, the Philippine eagle is the largest among extant eagles in terms of length and wing surface,” he explained.

He said the signing of the WLA with Singapore was a boost to the DENR’s initiatives to save the Philippine eagle as it underscores the importance and urgency of providing safe havens—whether here or abroad—to the biodiversity that is part of Filipino identity, as exemplified by the Philippine eagle.

Nestlé, Republic Cement team up to coprocess postconsumer waste

T

he amount of plastics ending up in waterways and in the ocean is of great concern in the country and other areas of the world. In a major initiative to help address this concern, Nestlé Philippines, and Republic Cement and Building Materials Inc. have entered into an agreement to coprocess postconsumer plastic waste in the cement kilns of Republic Cement.

The agreement was signed by Chairman and CEO Kais Marzouki and Corporate Affairs Head Atty. Ernesto Mascenon of Nestlé Philippines, and President Renato Sunico and Director Nabil Francis of Republic Cement. Francis is concurrently CEO of Republic Cement Services Inc. Cement kiln coprocessing is the process used to create cement. It takes raw materials, such as calcium carbonate and silica, and feeds them into a kiln along with fuel.

The materials are burned to a such high temperature that any complex material is broken into simpler compounds. The end result of the process is cement, and any emissions from the process are filtered and monitored by the minute to abide by local Department of Environment and Natural Resources standards.

Coprocessing is an alternative wastemanagement solution that can use waste as fuel.

In the Philippines, while landfilling

and physical treatment are more common, coprocessing is more advantageous given that energy and minerals coming from waste are almost completely utilized.

“Nestlé is aiming for plastic neutrality, which is essentially recovering plastics equal to what we produce. Aside from our current collection and rec ycling initiatives, we believe this effort will help us gather and coprocess bigger volumes of postconsumer waste. We target to divert more postconsumer waste from landfills and the ocean. This partnership will contribute positively in helping cleanup the Philippines.” Marzouki remarked.

“There’s still a lack of knowledge on the importance of coprocessing. We look forward to helping address the issue of postconsumer waste and look forward to the successful implementation of this project,” Sunico said.

“We are happy to partner with Nestlé Philippines and to help address pollution from residual plastics and sachets. This is a win-win situation for us and the environment. Together, we can build a greener, stronger republic,” Francis said.

In April 2018, Nestlé globally announced a commitment that 100 percent of its packaging will be rec yclable or reusable by 2025. The company’s vision is that none of its waste ends up in landfill or as litter.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, May 27, 2019

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

A9

World Bee Day

Are bees for honey, buzzing and stinging only?

By Rolando A. Inciong

A

Special to the BusinessMirror

re bees for honey, buzzing and stinging only? What will happen if we take away the bees and other pollinators, such as butterflies, bats, hummingbirds, beetles, wasps and moths from our environment?

T he a ns wer i s si mple but catastrophic: food production will slow down because many plants and food crops will not reproduce. Without the bees and other pollinators, many important crops will not reproduce, thus, affecting the food supply for both humans and thousands of animal species.

On May 20, the international community celebrated World Bee Day. The observance commemorated the birthday of Anton Janša, the pioneer of beekeeping, who was born in 1734.

A native of Slovenia, Janša pioneered in modern beekeepi n g te c h n ique s. But b e yond commemorating the bir th of the father of beekeeping, World Bee Day acknowledged the role of bees and other pollinators in ensuring food security, human health and biodiversity conservation, all of which are key factors in sustainable development.

Bees: Small but valuable

Bees rely on plants for their food.

Adult bees collect pollen to feed their young and nectar for their own energy requirements. In turn, bees serve as pollen vectors, and as they fly, transport the pollen from flower to flower.

According to the Earth Day Network (EDN), there are more than 20,000 bee species around the world. There are 369,000 flowering plant species, and 90 percent of them are dependent on insect pollination.

The EDN reported that a honeybee could visit 50 to 1,000 flowers in one trip. If each bee takes 10 trips a day, a colony with 25,000

bees can pollinate 250 million flowers in a day.

The EDN further stated that many species of animals depend on bees for their survival because their food source, including nuts, berries, seeds and fruits, relies on insect pollination, which makes food available for other organisms and floral growth, which, in turn, provides habitats for animals, including other insects and birds.

According to the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, “pollinators, such as bees, are a source of multiple benefits to people, beyond food provisioning, contributing directly to medicines, biofuels [e.g., canola and palm oil], fibers [e.g., cotton and linen], construction materials [timbers], musical instruments, arts and crafts, recreational activities and as sources of inspiration for art, music, literature, religion, traditions, technology and education.

“Pollinators serve as important spiritual symbols in many cultures. Sacred passages about bees in all the worlds’ major religions highlight their significance to human societies over millennia.”

A US White House report revealed that crops pollinated by bees make up 35 percent of global food production, which is valued at $577 billion.

California alone produces 50 percent to 80 percent of the world’s almond harvest. Spread across 800,000 acres, California’s almond orchards typically require 1.6 million domesticated bee colonies to pollinate the f lowering trees and produce the state’s largest agricultural export.

A bee taking nectar and pollinating a flower.

The bees are in danger!

A 2013 report by Elizabeth Grossman—“Declining Bee Populations Pose a Threat to Global Agriculture”—revealed that during the past 10 years, beekeepers, mostly in Europe and the United States, have been reporting annual bee losses of 30 percent or higher.

The United Nations Environment Programme said that in the US alone, one in four wild bee species is at risk of extinction.

Why is the bee population declining? Habitat fragmentation, colony collapse disorder, increased use of neonicotinoid pesticides and climate change are some of the reasons bee population is in danger.

Nicole Mil ler-Str uttman of the US Public Librar y of Science repor ted that food availabilit y restr icts bee popu lations, par ticu larly in urbanized and agr icu ltura l settings.

Land conversion to housing, roads and other human infrastructure restrict and isolate patches of flowering plants. Intensively

Wikimedia Commons

farmed regions with mass-flowering crops provide insufficient resources for bees, which require nectar and pollen throughout the foraging season. Wild habitats are exhibiting similar deficits due to climate change.

Invasive insects, parasites, exposure to agrochemicals such as pesticides, land-use change, monoc roppi ng prac t ices a nd harsh climate may reduce available nutrients and pose threats to bee colonies.

All things are interconnected

In her message for World Bee Day, Dr. Theresa Mundita S. Lim, executive director of the Asean Centre for Biodiversity (ACB), said without the bees and other pollinators, there will be no food diversity.

Bees are ver y helpful to many f lower ing plant species, which can only produce seeds if pollinators move their pol len from the anthers to the stig mas of their f lowers. T his, she said, is an example of ser v ice from

Clearly, all things in this world are interconnected. The loss of one of the smallest of creatures like bees could have a large impact on human and animal survival.”—Lim

ecosystem and biodiversit y.

Lim explained that bees and other pollinators ensure the abundance of seeds, nuts and fruits, as well as their variety.

“There will be no continuity of species in the absence of pollination services. Continuous reproduction of fruits and vegetables directly contribute to human health by providing us with balanced nutrition,” Lim said.

Commenting on the threats confronting bees and other pollinators, Lim said, “The negative impacts of harsh climate and irresponsible human activities on pollination services affect not only flora and humans, but also all life forms because it threatens the food security of fauna, which in turn, exacerbates greater biodiversity loss, resulting in the faster decline of even more ecosystem services.

“Clearly, all things in this world are interconnected. The loss of one of the smallest of creatures like bees could have a large impact on human and animal survival.”

Global and regional efforts to save our bees

Lim said global and regional efforts are ongoing to save the bees and other pollinators. She cited the United Nations Convention on Biological Diversity (CBD), which has made conservation and sustainable use of pollinators a priority.

In 2000, the CBD established t he I nter n at ion a l Pol l i n ator Initiative as a cross-cutting initiative to promote coordinated action worldw ide to monitor pollinator decline, its causes and its impact on pollination ser v ices; address the lack of ta xonomic information on pollinators; assess the economic va lue of pol lination and the economic impact of the decline of pollination services; and promote the conser vation and the restoration and sustainable use of pollinator diversity in agriculture and related ecosystems.

At the reg iona l level, Lim cited John A scher, and John Pickering’s 2018. Discover Life Bee Species Guide and World Checklist, which reported that there are about 970 species of bees found in the Asean region.

The top 3 countries in bee

spec ies a re Indonesi a (4 63), followed by Malaysia (266) and Thailand (228).

Lim said that as signatories to the CBD, the 10 Asean member-states—Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam—with support from the ACB, are working to protect the bees and other pollinators through a variety of programs on species and ecosystems conser vation, protected area management and wildlife conservation.

The Philippines, for example, hosted a conference on how bees can be protected from systemic pesticides in Marinduque from May 16 to 19.

What can we do to save the bees?

Although governments and organizations all over the world and in the Asean region are involved in protecting and caring for bees and other pollinators, individuals can contribute in their own little ways to ensure the survival of our pollinators.

The FAO recommends the following actions: n Plant nectar-bearing flowers for decorative purposes on balconies, terraces and gardens; n Buy honey and other hive products from your nearest local beekeeper; n Raise awareness among children and adolescents on the importance of bees and express your support for beekeepers; n Set up a pollinator farm on your balcony, terrace or garden; n Offer suitable farming locations for the temporary or permanent settlement of bees so that they have suitable pasture (as a consequence, they will pollinate our plants, which will thereby bear more fruit); n Use pesticides that do not harm bees, and spray them in windless weather, either early in the morning or late at night, when bees withdraw from blossoms; and n Mulch blooming plants in orchards before spraying them with pesticides so that they do not attract bees after being sprayed.

Whether governments or individual citizens, we owe our survival to the bees.

Sea dragon exhibit dazzles visitors at California aquarium L

A JOLLA, California—At first glance, it looks like a branch of kelp, but then an eye moves among its leafy appendages, and ridges of tiny, translucent fins start to flutter, sending the creature gliding through the water like something from a fairy tale.

A Southern California aquarium has built what is believed to be one of the world’s largest habitats for the surreal sea dragons, whose native populations off Australia are threatened by pollution, warming oceans and the illegal-pet and alternativemedicine trades.

The Birch Aquarium at the Scripps Institution of Oceanography at the University of California San Diego hopes the exhibit, which opened this month, will lead to the leafy sea dragon, the lesser-known cousin of the seahorse, being bred for the first time in captivity.

“It literally just looked like a piece of kelp,” said Steven Kowal, 25, who was visiting San Diego from Greensboro, North Carolina, and took time to see the exhibit. “It was crazy to me

Weedy sea dragon Wikimedia Commons

that it was, like, actually living and swimming around, so that’s cool. I’ve never seen anything like that.”

That’s a common reaction. “ T hey look like something

out of this world,” said Leslee Matsushige, the aquarium’s associate curator, who noted the sea dragons’ amazing ability to camouf lage themselves. “W hen people see them move, you hear

them say, ‘W hat? That’s alive?

Wow! That’s crazy.’”

Scientists li ke Matsushige hope the creatures’ magnetic power will prompt people to read the signs next to the tanks that

outline ways to protect them and what can be done to make oceans healthier, such as picking up trash and stopping pollutants from going down the drain.

Few aquariums have sea dragons. There are only two types of sea dragons, the leafy and the weedy, each representing its own genus. Both kinds are found only in a small area of temperate waters off the southern and western coasts of Australia.

Little is known about them because their populations are so small and in remote areas.

So far, only the weedy sea dragon, a bony fish that resembles seaweed when floating, has been bred in captivity, and only a handful of times.

The Aquarium of the Pacific in Long Beach was the first in the world to breed the weedy sea dragons in 2001. It also is trying to breed leafy sea dragons.

The Birch Aquarium’s 18-footlong (5.5-meter-long) tank has three leafy sea dragons—two males and one female—and 11 weedy sea dragons. The 5,300-gallon (20,062-liter) tank is a vast space, especially for the smaller

leafy sea dragon, which grows to only about 14 inches (36 centimeters) in length. The tank has grassy plants, a sandy bottom and rocks.

Scientists hope the large space will foster breeding. Sea dragons mirror each other in a courtship dance, spiraling upward before the female deposits her eg gs onto a patch on the underside of the male’s tail. Like seahorses, the male carries the young and gives birth.

“We’re already seeing great courtship behaviors, and so we’re hopeful we can get some egg transfers really soon,” said Jenn Nero Moffatt, director of animal care at the Birch Aquarium.

The exhibit is the latest effort by the aquarium that is a world leader in seahorse propagation.

Sea dragons swim by spinning translucent fins while their tails act as rudders. They have no natural predators, in part because their slender bodies are covered by bony plates.

If both types of sea dragons can be bred, scientists believe it could reduce the number being taken illegally from the wild. AP

A10 Monday, May 27, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Private cars and public transportation

W

E live in an age of feel-good concepts, which are typically contained in a couple of sentences. They are often meaningless and loosely factual.

Circulating frequently is this idea: “A developed country is not a place where the poor have cars. It’s where the rich use public transportation.”

This quote is often attributed to Gustavo Petro, a Colombian politician who was the 797th mayor of Bogotá and member of the Colombian Senate. He was once removed from the mayor’s office and banned from all political activity for 15 years for mismanagement. He also holds a Master’s Degree in Economics.

However, the quote is also attributed to the 798th mayor of Bogotá, Enrique Peñalosa who also holds a degree in economics. In 2009, Peñalosa was elected president of the Institute for Transportation and Development Policy headquartered in New York.

By standard definition, a developed country is one “that has a developed economy and advanced technological infrastructure relative to other less industrialized nations.” These countries score high on the “Human Development Index,” and not surprisingly also are on the list of “high-income” economies. In fact, more “developed” countries are also “rich” countries.

Apparently though, the developed countries did not get the memo about automobile ownership. The nation that has the highest percapita ownership of cars—and not including other vehicles like trucks and buses—is the United States with 795 per 1,000 people.

New Zealand comes in second with 774 cars followed by Australia at 740. The other rich countries include Italy (679), Germany (727), France (585) and Japan (478).

Maybe a developed country is a place where even the “poor” have cars. By comparison, the Philippines has fewer than 50 cars per 1,000 population.

It would not be fair to view the quotation necessarily as a statement of fact. Perhaps we should read the second sentence—“It’s where the rich use public transportation”—as an objective that countries should strive to achieve. Further, this is also a call for greater use of public transportation in general.

It is difficult to assess how many rich people actually use public transportation. However, studies in the US show that in small “metro areas,” the median income of those using public transportation is higher than for people who commute daily by private car.

In larger metropolis areas, the rich do commute if they live a few kilometers from their businesses.

If the goal though is to get a larger percentage of the population onto public transportation, then Colombia is a champion with 53 percent commuting rather than driving a private vehicle. Other nations with high percentage use are Kenya (63), Russia (57), Ukraine (56), Turkey and Peru (54), and Chile with 53 percent.

In the Philippines, 56 percent of the population regularly uses public transportation, ranked No. 5 in the world.

The idea that the ultimate goal is to replace private vehicles with public transportation is unrealistic and not necessarily sensible. There must be a proper blend of private and public that considers all factors of reliability, comfort, security and “peoplemovement” patterns. Our world cannot operate on clichés that make us feel good.

The world belongs to the determined Atty. Jose Ferdinand M. Rojas II

RISING SUN

I

N one week, some schools are going to open for the new academic year. The Department of Education implements the annual Brigada Eskwela program so teachers and parents can work together to make sure that the (public) schools are ready and safe for the children when they come next week. For this school year, most of the Brigada Eskwela activities are finished and both teachers and parents are in the last leg of preparations for the opening of classes.

While parents are busy shopping for school supplies and readying the home for another year of study, our public servants should also be preparing roads, infrastructure, and public transport systems for the ex pected rains and f looding, the traffic, and the needs of our students and their families. The election is over, rainy days are

upon us, and school is starting.

It’s all beginning to feel like everyone should buckle down for some serious work. nnn ON April 17, the President signed Republic Act 11310, or the Pantawid Pamilyang Pilipino Program (4Ps) Act. It is a national poverty reduction program that is now a law, which means that it is con-

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T

HE usage of Virtual Currencies (VCs) is steadily gaining momentum as a medium for payment and remittances in the Philippines, largely because it is easy to set up, pseudo anonymous, transparent, much faster, cheaper and convenient.

On the other hand, there are attendant risks—volatility, security, non-repudiation, potential use in illegal activities such as money laundering and terrorist financing.

Because of this propensity to be used in illicit activities, the Bangko Sentral ng Pilipinas on March 6, 2014, issued a “Warning Advisory to the Public” that VC Exchanges are not regulated by the BSP, or by any regulatory authority, and, thus, consumers are not protected from financial losses if the VC Exchange (or any organization that holds or exchanges VCs) fails or goes out of business.

Following this warning advisory, a formal regulatory approach was adopted by the BSP through the issuance of Circular 944 dated February 6, 2017. Under the said issuance, VC exchanges or businesses engaged in the exchange of VCs for equivalent fiat money in the Philippines are required to register with the BSP as remittance and transfer companies. In

view thereof, BSP-registered VC exchanges are now required to put in place adequate safeguards to address the risks associated with VCs such as basic controls on antimoney laundering and terrorist financing technology risk management and consumer protection. Notwithstanding said issuance, the BSP did not, in any way, endorse VCs as legal tender, store of value or on investment vehicle.

Under Circular 944, the following terms have been defined: a) Virtual Currency refers to any type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users. VCs are not issued nor guaranteed by any jurisdiction and do not have legal tender status. VCs shall be broadly construed to include digital units of exchange that (1) have a centralized repository or administrator; (2) are decentralized and have no centralized repository or administrator; or (3) may be cre-

tinuing or permanent, and will be funded through the Department of Social Welfare and Development’s annual budget. Under the law, poor households will be receiving conditional cash transfers (CCT) for a maximum of 17 years “to improve the health, nutrition and education aspect of their lives.” Many poor families are able to send their children to school because of these cash transfers.

Once in a while we come across news items that talk about a student’s heroic efforts to stay in school and finish his/her education. One particular story that caught my attention was about a 20-year-old student in Davao named Joenel Malanog who used to go around school to sell food.

When he couldn’t do it anymore because his class schedule became more demanding, he decided to open an Honesty Store so he could keep paying his way through school.

Malanog wrote down on a piece of cardboard the prices of the food items he was selling, like lumpia, donut, ice candy, pork barbecue,

among others. And because he couldn’t be present all the time to attend to customers, he had to completely rely on their honesty and integrity. Surprisingly, the store thrived well enough to help him pay not only for his school expenses but also for those of his four siblings.

We have the public school system so children from poor families could attend school. The Commission on Higher Education has the free tuition program for tertiary education students, and the 4Ps law is in place to help families from the lower income groups.

However, more important than these systems and programs established by the government is every student’s desire and determination to finish his/her education. One could have too many scholarships, poverty reduction schemes, and other systems securely in place but if the students are not willing to help themselves, like the way Malanog helped himself and his family against all odds, then an education may still be out of reach.

ated or obtained by computing or manufacturing effort. lt shall not be construed to include e-money as defined under Section X780 of the Manual of Regulations for Banks, digital units used solely within online gaming platforms and are not convertible to fiat currency or real-world goods or services, digital units with stored value redeemable exclusively in goods or services and limited to transactions involving a defined merchant such as rewards programs; b) “VC exchange service” refers to the conversion, or exchange of fiat currency or other value into VC, or the conversion or exchange of VC into fiat currency, or other value; c) “Fiat currency” refers to government-issued currency that is designated as legal tender in its country of issuance through government decree, regulation, or law; d) “Remittance and Transfer Company (RTC)” refers to any entity that provides money or value transfer service; e) “Money or value transfer service (MWS)” refers to financial services that involve the acceptance of cash, cheques, other monetary instrument or other stores of value and the payment of a corresponding sum in cash or other form to a beneficiary by means of a communication, message, transfer or through a clearing network;

paper money minted and printed by the central bank of a country; designated and circulated as legal tender in the country; and used and accepted as a medium of exchange in the country. Fiat currency is fully backed by the government of a country, and is acceptable as payment for public and private debts.

VC is also distinct from e-money, which is a digital representation of fiat currency. E-money is convertible to fiat currency in licensed e-money issuers or emoney agents. It is used to electronically transfer monetary value that is equivalent to, or similarly denominated as fiat currency.

Like fiat currency, e-money is legal tender.

The BSP recently issued another public advisory in response to certain unscrupulous fraudsters/ groups that try to entice consumers to “invest” in Bitcoins or VCs packaged as an Initial Coin Offering (ICO). The advisory warns consumers to be cautious in dealing with VCs, only maintain VCs sufficient to meet their transactional requirements, and adopt sound security measures to protect their VC accounts. The advisory also reiterates that BSP does not endorse VCs as a currency or an investment instrument due to its highly speculative and risky nature.

The BSP highly encourages existing and prospective VC users to deal only with BSP registered VC

How does VC differ from Fiat Currency and E-Money?

VC is distinct from fiat currency or real currency—the coins and

See “Kapunan,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Tax Legislative in the Pipeline for the 18th Congress

How not to win negotiations Siegfred Bueno Mison, Esq.

THE PATRIOT

Jeffrey Galang Salazar

DEBIT CREDIT

H

AILED as “Duterte Magic,” the majority of the administration Senate candidates won in the recently held midterm election on May 13, 2019. As a result, I expect more tax reform measures to be on top of the legislative agenda of the forthcoming 18th Congress. These probably will include the remaining packages two to five of the Comprehensive Tax Reform Program as proposed by the Department of Finance.

Republic Act 10963, commonly known as TRAIN law, was passed two years ago in the last Congress.

Some provisions of this law, combined with the unexpected increase in oil prices and foreign exchange rates, caused record high inflation rates resulting in increased prices of goods and services last year. Counter measures were implemented by the government through the “Pantawid Pasada Program” and “Pantawid Pamilyang Pilipino Program “ to alleviate the state of the most affected sectors.”

There are other tax related bills pending in Congress that I hope may finally be passed into law and signed into law. These include: Senate Bill (SB) 1824, proposed

by Sen. Grace Poe, seeks to lower the electricity charges of consumers by removal of the value-added tax (VAT) on generation and distribution companies, including electric cooperatives.

SB 1841, proposed by Sen. Aquilino Pimentel III, aims to abolish the travel tax and to comply with the Asean Tourism Agreement which calls for the removal of travel levies and taxes to the nationals of the Asean member-states.

SB 2193, also proposed by Sen. Pimentel, calls for the exemption of drugs and medicines for mental-health conditions.

If passed, mental illness along with diabetes, high cholesterol

Kapunan. . .

continued from A10

Exchanges. The BSP also cautions the public to be vigilant about VC related transactions and investments in v iew of potentia l r isks. T his adv isor y can be accessed at: ht t p: //w w w. bsp.gov.ph /publications/media. asp?id=4575.

The BSP has approved 10 VC Exchanges in total, according to the most recent list provided by the BSP (http://ManilaTimes. net). Latest data showed there

and hypertension medicines will be all VAT-free.

SB 2112, proposed by Sen. Sonny Angara, seeks to exempt insurance premiums from group insurance paid by employers to its employees from income tax and fringe benefit tax.

SB 1599 and 2197, proposed by Sen. Manny Pacquiao, calls for the further increase of excise tax on tobacco and alcoholic products.

The taxes collected from these measures will finance the Universal Health Care programs of the government.

With the combined efforts of the fresh-minds and veterans elected as legislators in the Senate and Congress, let us hope that they will be able to pass into law the priority tax bills for the continuous redesigning of the taxation system in our country resulting in the desired benefits to our citizenry.

Jeffrey Galang Salazar is a Certified Public Accountant (CPA) and a Master in Business Administration degree holder. He established Salazar Tax and Accounting Services to provide tax, accounting, audit and consultation services.

This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.sec ret a r i at.@ gmail.com. are around 4,387 Bitcoin automated teller machines globally.

The basic Bitcoin ATMs allow users only to purchase Bitcoins, while the more complex ones enable users both to buy and sell the virtual money.

My advise—“Caveat emptor”!

Buyer beware. But, I am not an authority on anything digital. All I know is that my ATM account always has some glitches. The BSP should focus more on regulating traditional banking services before it cleans up virtual banking. Even big banks, these days, are not reliable!

Monday, May 27, 2019 A11

A

LL of us are given opportunities to negotiate. Children negotiate with their parents as to their curfew. Students appeal to their professor for leniency. Amateur golfers like me negotiate with each other for handicaps for friendly bets. Those who buy in a market will haggle for the best deals possible. Almost all business contracts are concluded only after a series of exchange of offers and counteroffers.

My law professor in “Contract Negotiations,” a subject I took during my masters in law class a few years back, opined that the most critical factor that will spell the difference in successful negotiations is how we communicate. He considered negotiations as successful when both parties arrive at a fair and reasonable agreement even though they did not get what they originally wanted. How we express our position, in words or in action, will dictate the reaction of the other. Thus, negotiators ought to heed the advice of the Bible as it is written in Colossians 4:6, “Let your conversation be gracious and attractive so that you will have the right response for everyone.”

Saying and doing things nicely does not cost us anything, except pride and ego perhaps, but they can mean everything in negotiations.

One must let go of his ego to be a skillful negotiator.

Excellent communication skills require a high level of empathy.

While they may appear similar, empathy is different from sympathy. Empathy is being vicariously aware of the feeling of another, whereas sympathy is understanding your own feeling as a result of another’s situation. Empathy is especially helpful in negotiations as it builds rapport and enhances the relationship. According to Chris Voss, a former FBI hostage negotiator and author of the book, Never Split the Difference, the most effective strategy in negotiations is to “focus on what the other person wants instead.” Being able to see things from the perspective of another will actually result to greater influence and deeper trust.

Voss further said that successful negotiation hinges on the negotiator’s ability to surrender his urge, or need to be “right.”

I witnessed one negotiator, CLF,

who did more listening than speaking. He admitted that part of his initial mindset was to talk more since he wanted greater control of the discussions. In the course of the negotiations, he ended up listening and eventually understanding the position of the other side. He paraphrased what the other was saying, perhaps for clarity, but in truth, it was his way of showing empathy. He clearly understood that the opposing positions are usually driven by emotions and not logic. In his book, Voss said, “A surprisingly high percentage of negotiations have more to do with self-esteem, status and other non-financial needs.” Whenever CLF spoke, he spoke gently like a father to a son, following what the Bible tells use in Proverbs 15:4 which says, “The soothing tongue is a tree of life, but a perverse tongue crushes the spirit.”

Aside from being a skillful communicator, a good negotiator must be mindful of the nonverbal gestures, make use of open-ended questions, listen very attentively, and most important, stay patient.

Body language reveals the true intention of a person. He can say one thing but his body—eyes, hands, facial expressions can say another.

According to Voss, open-ended questions, as opposed to those answerable by yes or no, are also useful to gather the right information and show interest in the other party’s response. Contrary to what most people think, listening is a form of communication. When a negotiator sits back and simply listens, his eyes and ears are actually sharper

F

OR more than a year now, Sen. Bob Menendez has delayed the sale of precision-guided munitions to Saudi Arabia and the United Arab Emirates to make a point about the war in Yemen. On Friday the Trump administration went ahead with those sales over his objections to make a point about the threat from Iran.

That is made possible by a rarely used provision in the Arms Export Control Act. Section 36 of that law gives the president the authority to over rule Congressional objections to arms sales in case of an emergency.

In an interview on Friday, Secretary of State Mike Pompeo put it like this: “There is an urgency to the matter. You can see the destabilizing activity in the Middle East.”

He said later that the arms sales were designed in part to deter Iran from further attacks by its own forces or proxies.

On Iran, Pompeo has a point.

Four commercial ships were sabotaged in Emirati territorial waters earlier this month, which Pompeo has said was likely because of Iran.

In Saudi Arabia, Houthi rebels (who are supplied by Iran) launched a drone attack on the east-west pipeline. The number of threats reported against US targets in the region has also increased, leading Pompeo last week to order the removal of nonessential US personnel from diplomatic posts in Iraq.

And while the acting secretary of defense, Mike Shanahan, reportedly told members of Congress in a

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

Tech Cold War will force global leaders to choose

T

By Tim Culpan | Bloomberg Opinion

HE US-China tech cold war is about to spread, and that will force leaders to make some difficult decisions.

I wrote last week that a digital Iron Curtain had been drawn when President Donald J. Trump moved to isolate Huawei Technologies Co. Within a week, global corporations were caught in this divide.

Alphabet Inc.’s Google said it would cease some ties with Huawei, including limiting the Chinese electronics company’s access to its Android mobile operating system.

From there, telecom firms in Japan, Britain and Taiwan were among those that halted orders for Huawei’s newest devices. Microsoft Corp. dropped Huawei products from its Azure Stack catalog, while Britain’s ARM Holdings Plc., now owned

by SoftBank Group Corp., said it would comply with an order to stop supplying some intellectual property used in semiconductors.

These companies were following the directive of one sovereign nation. From their perspective, there was little wriggle room either legally or functionally (if a phone can’t operate Android properly, then that’s a problem).

A slower-moving, but more signif-

icant divide, is likely to form between nations as this digital Iron Curtain falls. Having mutually exclusive technological spheres doesn’t simply mean supply chains will mirror each other on different continents.

Rather, for countries around the world, it means that every business and investment decision becomes a political one.

US technology still leads the world, and it’ll stay that way for a while. But China has shown a willingness to engage and help developing nations in ways the US once did.

Constructing or subsidizing fixedline and mobile communications networks is likely to continue. Made

by Huawei and ZTE Corp., but funded directly or indirectly by Beijing.

It’s not just high-tech networks.

Numerous developing nations want high-speed rail lines, efficient ports and airports, and energy-sav-

ing, low-pollutant electric vehicles.

Each of these could be provided by America or its allies. Japan, Europe and Canada have the technology and skill to help. But in addition to being capable of offering those items, China has the political and fiscal capital to do so. The will already exists in the form of its Belt and Road Initiative.

But if a nation agrees to install Chinese networks or infrastructure, there’s an increasing chance it will be cut off from US products under the guise of American national security.

The Philippines and Vietnam epitomize this dichotomy.

The Philippines has had historically close ties with the US. However, President Duterte has alternated between love and hate for China, noting both Beijing’s belligerence toward its neighbors and its willingness to do deals. Under his presidency, the two nations have signed more than a dozen agreements, including one for China Telecom Corp., to build a mobile-phone network in the Philippines. The mood toward China was summed up this month

by Foreign Affairs Secretary Teodoro Locsin Jr. in an interview with Bloomberg News: “China’s offer of a strategic part-

Donald Trump’s ‘emergency’ to justify Saudi arms sales

By Eli Lake | Bloomberg Opinion

like a good intelligence officer, or a seasoned surveillance agent. In the process, the negotiator separates facts from feelings and eventually understands the bigger picture— all parties lose if they fail to agree.

W hile developing empathy skills requires a long process, it starts with the awareness that the negotiation is never about you or your position. It is more about the patient yet relentless pursuit of knowing the other. Whether the negotiations deal with hostage taking, a multimillion investment, a labor dispute, or a simple disagreement as to what movie to watch, patience always produce positive results. In the Bible, Proverbs 14:29 tells us, “Whoever is patient has great understanding, but one who is quick-tempered displays folly.”

Understanding the root cause of the conflict by way of effective communication, empathy, and patience leads to success, not in terms of the outcome but more about the journey. Success is different from winning negotiations. US legendary basketball coach and inspirational speaker, John Wooden, said that success occurs if a person does the best as he can and tries to improve the situation given him. He said that winning is like reputation while success is like character— “Your reputation is what you’re perceived to be; your character is what you really are.”

In all negotiations, seek not to win but to succeed.

closed-door briefing that the threat from Iran had subsided because of recent US actions, the Pentagon announced the deployment of 1,500 more US troops to the Middle East in response to Iran’s belligerence.

There is some precedent for invoking Section 36 of the arms export law. In 1984 for example, President Ronald Reagan used the provision to send Stinger missiles to Saudi Arabia to deter Iranian threats to its oil infrastructure. But precedent helps only so much to justify the Trump administration’s action: Some of the 22 pending arms sales to Saudi Arabia, Jordan and the United Arab Emirates are not emergencies at all, for example a contract for the Saudis to refit F-18 fighter jets, which will take years to complete.

Most arms sales are approved through an informal process. A lawmaker can raise objections to a particular sale, placing a hold on it as

Menendez did, and the State Department will then try to address those concerns with the member of Congress. Almost always the arms sale moves forward after these private consultations. Invoking the emergency arms sale provision disrupts this informal tradition and challenges one of the few powers Congress still exercises in foreign affairs.

Add to this that arms sales to Saudi Arabia have become a major sticking point after a team of Saudis murdered Washington Post journalist Jamal Khashoggi this fall in the Saudi consulate in Istanbul. Even Trump allies like Sen. Lindsey Graham have supported cutting them off. In December, Graham vowed to oppose any arms sales to Riyadh so long as Crown Prince Mohammed Bin Salman remains the putative Saudi leader.

President Donald J. Trump’s decision to bypass Congress will most

likely harden congressional opposition to Saudi Arabia at a moment when the White House and the State Department are making the case for a “maximum pressure” campaign against the Saudis’ regional enemy, Iran.

This is why Republican senators who support the arms sales advised Pompeo and the White House, according to Senate sources, to use a lighter touch. These senators urged Pompeo to formally announce the arms sales to Congress without consent from Menendez. Under the law, Menendez and his allies would have 30 days to pass a joint resolution to oppose the sale in the House and Senate. That resolution can be vetoed by the president. While Menendez may have enough votes in the Senate to oppose the arms sale, he lacks a veto-proof majority.

Pompeo declined to discuss whether the administration consid-

nership is a bit more attractive than the current offer of the US of strategic confusion.”

Vietnam, by contrast, would seem to be a natural Chinese ally.

Yet, Beijing’s assertive behavior hasn’t endeared it to the Vietnamese, while they have a relatively warm disposition toward the US. Four decades after a brutal war ended, the two nations are building military ties as Vietnam seeks to hold back the tide of rising Chinese power. This makes Hanoi more likely to eschew Chinese offers if it would mean losing Washington’s favor. But the choice won’t be easy, given the largess China offers.

Such decisions will need to be made around the world. They won’t be rushed, and probably won’t be come in clear declarative speeches at a podium. Instead they’ll be made in the meeting rooms of bureaucratic institutions, over the table at Cabinet meetings, and in foreign embassies where the carpets will be worn thin by a stampede of government and nongovernment lobbyists.

Just as the world was divided along military lines 70 years ago, the digital Iron Curtain will force political leaders to decide whether they’re Team China or Team America.

ered that option. “I have spoken to Sen. Menendez about this, as early as my confirmation process,” he said in the interview. “He has demonstrated real concerns about some elements of these sales. We think in the precision-guided munitions, it makes more sense to provide them than for the Saudis to get them from Russia or China.”

That’s a fair point, and it shows the challenge for Menendez and other lawmakers who hope to pressure the Saudis to seek a diplomatic solution to the war in Yemen.

Nonetheless, bypassing Congress was a risky play. Trump and Pompeo will need senators next month to confirm a slate of nominees for ambassador and other senior posts. How likely will they be to cooperate if they feel their foreign policy concerns have been ignored and their longstanding arms sales prerogatives have been so blithely discarded?

2nd Front Page BusinessMirror

A12 Monday, May 27, 2019

DBM to submit ₧4.1-trillion budget for 2020 during Sona

T

By Rea Cu

@ReaCuBM

HE Department of Budget and Management (DBM) is targeting to submit the 2020 national budget proposal of P4.1 trillion under a cash-based budgeting system during the State of the Nation Address (Sona) of President Duterte in July.

“That’s our target [to submit the budget bill during the Sona],” DBM Acting Budget Secretary Janet B. Abuel told reporters.

She explained that the DBM is still pushing for a cash-based budgeting system, but is still studying the transition process since the passage of the 2019 budget bill of P3.7 trillion was delayed.

“We’re pushing the cash budgeting but we’re studying the transi-

tion. Let’s see what will happen for the 2019 [budget], then let’s see if there’s still a need for a slower pace in trying to adopt it fully,” she added.

The proposed 2020 budget of P4.1 trillion is higher by 9.1 percent than the 2019 General Appropriations Act (GAA) of P3.7 trillion.

The 2019 budget bill, the first budget proposal implementing a cash-based budgeting system

9.1% The percentage by which the proposed 2020 budget of P4.1 trillion is higher than the 2019 appropriations

under the Duterte administration, was only approved in April this year due to a deadlock between the House of Representatives and the Senate. The delay in its passage forced the government to operate under a 2018 reenacted budget, which affected the spending plans of the government, especially on its infrastructure projects.

The 2018 GAA uses an obligationbased budgeting system which allows government agencies to spend their appropriations on projects during a two-year period or longer.

The national budget is used to fund the government projects and programs mainly on infrastructure and poverty alleviation, among others.

In February this year, then-Budget Secretary Benjamin E. Diokno signed a memorandum on the national budget call for Fiscal Year 2020.

The Budget Call is a budget document issued by the DBM at the start of the budget preparation phase, which contains the budget priorities framework, sets the budget priorities, as well as the macroeconomic assumptions and fiscal parameters for the proposed budget.

“We’re done with the technical budget hearing, so there are still higher levels to go through before we present,” Abuel said.

According to the DBM, the shift to cash-based from obligationbased budgeting will hasten the implementation of projects and will also reflect “more accurately” the annual outputs and outcomes of the government.

Palace bans govt execs’ travels to Canada

T

HE Philippine government has ordered heads of government agencies to reduce interaction with the Canadian government in a bid to diminish diplomatic relations with Ottawa for its failure to retrieve the garbage it illegally dumped in the country five years ago.

Malacañang at the weekend confirmed the report that Executive Secretary Salvador Medialdea issued a memorandum dated May 20, 2019, directing all department

secretaries and heads of agencies, as well as government-owned and -controlled corporations and government financial institutions to refrain from issuing travel authorities for official trips to Canada.

“We maintain that these directives are consistent with our stance on the diminished diplomatic relations with Canada starting with the recall of our ambassador and consul general in that country in light of Canada’s failure to retrieve its containers of garbage unlaw-

fully shipped to the Philippines,” said Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo in a statement on Sunday. The order was reported to take effect immediately.

Last week, the Palace rejected Canada’s move to retrieve its trash by end of June, saying it cannot wait that long as the President wants the 69 waste containers out of the country immediately.

This, after the Canadian government announced that it had already

hired shipping firm Bolloré Logistics Canada to safely bring back the waste to Canada as soon as possible.

On Wednesday, Duterte had again expressed outrage over Canada’s “inordinate delay” in retrieving the waste, prompting him to order Philippine 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.

Prior to this, the Philippine government also recalled its key diplomats in Canada after Ottawa failed to comply with the May 15 deadline to take back the garbage.

Bernadette D. Nicolas

FRONTAL SYSTEM AFFECTING EASTERN SECTION OF LUZON AND VISAYAS as of 4:00 am - May 26, 2019

Flood project. . .

Continued from A1

component, which aims to modernize drainage areas at a cost of $168.84 million, is still set for delivery in June this year.

The first contract, AIIB documents stated, amounted to $6.5 million, pertaining to the modernization of pumping stations. This would be followed by four more packages after the design is finalized and tendered in May. “Contract for supply of solid waste equipment has been signed under component 2. Delivery to commence in June,” the AIIB documents stated.

Based on documents from the National Economic and Development Authority (Neda), the project includes the rehabilitation of pumping stations located in Manila, Pasay, Taguig, Makati and Malabon.

This will be done through the replacement of pumps, and the construction of new pumping stations in Manila, Pasay, Pasig, Mandaluyong, San Juan, Caloocan, Valenzuela and Quezon City.

The project components include rehabilitating 36 pumping stations through the replacement of pumps and contstruction of 20 new pumping stations; minimizing solid waste in waterways; participatory housing and resettlement; and project management, support and coordination.

“It will also minimize solid waste in waterways to reduce flood risks.

The project also involves participatory housing and resettlement,” Neda said.

www.businessmirror.com.ph

‘MABALASIK’ WEEPS OVER FAMILY DRAMA ON GRADUATION DAY

THE valedictorian of “Mabalasik” Class 2019, Lt. Dionne Mae Apolog Umalla (left, first row), stands with the rest of the graduates’ Top 10 in this pre-graduation event at the PMA. PHOTO FROM PNA

By Marilou Guieb Correspondent

B

AGUIO CITY—As is wont to happen on graduation days, a touching life drama occurred on Sunday at the Philippine Military Academy (PMA) commencement exercises.

The newly minted topnotcher of Class “Mabalasik,” Lt. Dionne Mae Apolog Umalla, got her fond wish to see her long-separated parents share in her triumph.

The father who long ago left them sat side by side with her mother as proud parents on her big day.

In her valedictory speech, Umalla went through the usual niceties, thanking all—her teachers, officers, other fellow cadets. She also recalled how four years ago,

she and her classmates stood for the first time on Borromeo Field with only a dream, speaking in a confident voice.

Then she spoke from a personal note, and, for once, the “mabalasik” [fierce in Filipino] broke down from an overwhelming feeling of gratitude. “Datoyen, Mama [This is it],” she said.

While she thanked her father for coming to honor her achievement, it was her mother Dionisia Umalla that she thanked effusively.

“This is for you, Mama. I love you very much,” she said, as the camera panned toward her mother who waved and smiled, while her daughter was addressing her.

Beside her was her father Reuben, beaming proudly.

See “Mabalasik,” A2

Protect PHL sovereignty, Duterte urges PMA grads

By Bernadette D. Nicolas

P

@BNicolasBM

RESIDENT Duterte on Sunday urged the new batch of graduates of the Philippine Military Academy (PMA) to be faithful to their mission of being good soldiers who will protect the Filipino people and secure the country’s sovereignty.

Out of 350 cadets who entered the academy four years ago, 261 emerged triumphant, led by five female cadets including the valedictorian, Cadet First Class Dionne Mae Apolog Umalla.

During his keynote speech at the commencement exercises of the PMA “Mabalasik” class of 2019, the Commander in Chief reminded the graduates to always embody courage and loyalty as they pursue their noble careers in military.

“Our security is not anymore just about arms and equipment. At this time, complex and

irrational state and nonstate actors may even pose a danger to our country. Given this reality, I ask you to always remain faithful to your mission: Be a good soldier who will serve the Constitution, protect the people, secure our sovereignty and preserve the integrity of our national territory,” Duterte said at Fort Gen. Gregorio H. del Pilar in Baguio City on Sunday.

Moreover, the President asked them to be humble, be teachable and be grateful.

“Lastly, always look for each other’s backs. In the field, nobody wins alone. Where many old mindsets are fading fast and new ones are coming from the unprecedented sources,” he said.

To end his speech, the President said: “Serve your country well. Die for your country if need be. Remember the young Filipinos yet to come, the children and those who are now studying. Huwag [ninyong] kalimutan ’yan [Don’t forget that].

See “Protect PHL,” A2

BLOOD DONORS Members of the Philippine National Police, Bureau of Fire Protection, Coast Guard and the National Press Club respond to the Philippine Red Cross’s call for blood donors on Saturday (May 25) at the NPC’s main hall in Intramuros, Manila. They were successful in getting 114 bags of blood, surpassing the target of 1OO bags of 45O ml of blood for its buffer stock. The Red Cross said the March-May period comprises the lean months of its blood-donation program. BERNARD TESTA

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, May 27, 2019

B1

ERC allows Peco to power Iloilo for two more years

By Lenie Lectura

P

@llectura

ANAY Electric Co. Inc. (Peco) has been allowed by the Energy Regulatory Commission (ERC) to continue distributing electricity for up to two years.

The ERC granted Peco on May 21 a provisional Certificate of Public Convenience and Necessity (CPCN) to ensure uninterrupted supply of electricity in Iloilo City. The provisional CPCN is valid until MORE Electric and Power Corp. (MORE), the legislative franchisee, has established and can fully operate its own distribution system.

In an order, the regulator said Peco shall operate the distribution system until the establishment or acquisition by the grantee MORE of its own distribution system and

its complete transition toward full operations, which period shall in no case exceed two years from the grant of the legislative franchise.

“I would like to underscore the provision of the law that the prov isiona l CPCN g ra nted to Peco during the transition period shall not be construed as extending the franchise of Peco, which has expired on January 18, 2019. MORE, on the other hand, can exercise its right of eminent domain whereby it may acquire such private property that is actually necessary to enable it to per-

form its obligation to provide uninterrupted supply of electricity in Iloilo City,” ERC Chairman and CEO Agnes VST Devanadera said.

Section 17 of Republic Act 11212, entitled “An Act Granting MORE Electric and Power Corporation a Franchise to Establish, Operate and Maintain, for Commercial Purposes and in the Public Interest, a Distribution System for the Conveyance of Electric Power to the End Users in the City of Iloilo, Province of Iloilo, and Ensuring the Continuous and Uninterrupted Supply of Electricity in the Franchise Area,” specifically provides that Peco shall in the interim be authorized to operate the existing distribution system within the franchise area, as well as implement its existing power-supply agreements with generation companies that had been provisionally or finally approved by the ERC. Peco shall operate the distribution system until the establishment or acquisition by the grantee MORE of its own distribution sys-

tem and its complete transition toward full operations, which period shall in no case exceed two years from the grant of the legislative franchise.

The ERC’s provisional CPCN granted to Peco is subject to the following conditions: n The issuance of an order granting a provisional CPCN in favor of Peco covers only the interim period in order to ensure uninterrupted supply of electricity in Iloilo City; n Peco shall settle the full amount of refund pursuant to the Commission’s Order dated November 16, 2009, in ERC Case 2001-333 (96-26), not later than June 30, 2019. Peco shall submit a report within five days from June 30, 2019; and n The provisional CPCN in favor of Peco shall be automatically revoked and shall cease to have any force and effect, subject to the provision of Section 10 of R A 11212.

Maynilad earmarks ₧16.8B for 2019 capex projects

W

EST Zone concessionaire Maynilad Water Services Inc. (Maynilad) is investing P16.8 billion in capital expenditure (capex) projects this 2019 for the continued enhancement and expansion of its water and wastewater services.

“Maynilad is dedicating a bigger share of this year’s capital investment toward wastewater projects, as we seek to facilitate sewerage coverage expansion in the West Zone. Accelerating our wastewater projects will require a lot of resources, but we are committed to do our part in protecting the health of our customers and the environment,” Maynilad President and CEO Ramoncito S. Fernandez said. About P11.4 billion—or almost 70 percent of Mayni-

lad’s P16.8-billion capex budget for 2019—will be spent for wastewatermanagement projects, to comply with the new and more stringent effluent standards and to maintain network reliability. This amount will be used for the construction of a new sewage-treatment plant in Central Manila, installation of about 30 kilometers of sewer lines in Las Piñas City, upgrade of existing STPs to include nutrient-removal processes, lot acquisitions for new STPs and pump stations, installation of new sewer service connections and maintenance of the existing sewer network.

Meanwhile, to continue enhancing water supply and pressure in the West Zone, about P1.9 billion of the capex budget has been allocated for water operations support such as the

construction of additional pumping stations and reservoirs for better supply management, service-expansion programs and water-source projects.

Maynilad is also allocating P3 billion this year for its water loss recovery or Non-Revenue Water (NRW) Management Program. This covers leak detection and repair, meter management, pipe replacements and network diagnostics, among others.

The rest of the budget will go to the company’s Customer Service and Information Program, which involves modernizing data management and information systems to improve service delivery.

Funding for Maynilad’s infrastructure investments will come from local and international bank loans, as

well as from internally generated funds. The water company expects to generate over 49,200 jobs from its P16.8-billion capex program this year.

Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. It is the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon, all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite province.

Okada files complaint vs officials of Tiger Resort PHL

J

APAN’S casino magnate Kazuo Okada has filed qualified theft and estafa charges against officials of Tiger Resort Leisure Entertainment Inc., the operator of the $2-billion integrated resort and casino Okada Manila, for removing him from the company that he owned and founded.

In his complaint-affidavit sworn to the Philippine consul to Japan Andrea Leycano, Okada filed the case against his protege Jun Fujimoto, his son Tomohiro Okada his estranged wife Takako Okada, and Kenshi Asano, director of the magnate’s holding company that controls various casinos in the region, including Okada Manila.

Fujimoto is the president of Universal Entertainment Corp., Tomohiro was a trustee of Okada Holdings Inc. and Takako was a director of UEC. Also included in the case were officers of Tiger Resort Leisure and Entertainment Inc., the operator of the casino, including Steven Wolstenholme, Antonio Cojuangco, Manuel Lazaro, Reynaldo David, Yoshinao Negishi, Kenji Sugiyama and Michelle Lazaro.

Asano is a de facto director of UEC and Tiger Resort HK while Wolstenholme, Cojuangco, Manuel Lazaro, David and Negishi were directors of Tiger Resort PHL, Sugiyama was chief security officer while Michelle Lazaro was its corporate secretary.

In his complaint filed before

the Office of the City Prosecutor of Parañaque, through his local lawyers, Okada said the respondents, in their respective capacity as directors, officers, nominees and trusted shareholders of the company, conspired to seize his ownership rights and interest Tiger Resort PHL. “I trusted each of the respondent Tiger PHL directors to exercise the rights and powers of a director of Tiger PHL in accordance with my instructions, and to protect my interest. Instead of showing me their loyalty, they betrayed me, and willfully participated... to facilitate my removal and replacement as chairman and director of Tiger PHL,” Okada said in his 37page complaint.

He accused the respondents for converting and misappropriating his shares in the local company to remove him as chairman, director, CEO and registered shareholder of Tiger Resort PH. Okada said his removal from his own company caused him great injury and prejudice.

“I am advised that the acts and omissions of respondents constitute the offenses of Qualified Theft and Estafa by Abuse of Confidence under Articles 310 and 315 [b] of the Revised Penal Code,” Okada said in his complaint.

Okada said he still owns 99 percent of Okada Holdings, which owns 68 percent in the listed firm UEC, the parent company of Tiger Resort. VG Cabuag

SBMA to prepare cruise ship-handling protocol GrabFood now accounts

for 10% of Grab revenues

By Henry Empeño Correspondent

By Lorenz S. Marasigan

S

UBIC BAY FREEPORT — Eyeing more tourism receipts here under its budding cruise-ship tourism program, the Subic Bay Metropolitan Authority (SBMA) now plans to develop a cruise ship-handling protocol for better management and sustainability of cruise-ship arrivals.

SBMA Chairman and Administrator Wilma T. Eisma said she had instructed the agency’s Cruise Ship Committee to produce a manual or guidebook after the Subic Freeport recorded 30 cruise-ship arrivals here since February last year.

“We have been successful so far in carving a new tourism niche in Subic with this booming cruise industry, and in order to sustain this growth, we have to incorporate best practices into a structured system,” Eisma said on Friday.

She said the SBMA needs to institutionalize cruise-ship handling “so that we can provide quality service and effective assistance to the passengers and crew of the visiting vessels, as well as their ship agents.”

Figures from the SBMA Tourism Department showed a total of 19 cruise-ship arrivals here last year, with the Italian-flagged Costa Atlantica operated by Costa Crociere setting the record at 14 visits.

@lorenzmarasigan

G

EMPLOYEES of the Subic Bay Metropolitan Authority line up along Alava Wharf to welcome the arrival of the cruise ship Costa Atlantica last week. HENRY EMPEÑO

Three other cruise lines also put Subic in their itinerary: Star Cruises, which sent its liner SuperStar Gemini to Subic twice; Royal Caribbean International with one visit of its Ovation of the Seas; and Dream Cruises, which sent its ship World Dream twice.

Each arrival reportedly brought in an average of 3,500 tourists who disembarked in Subic and then toured various destinations in the Subic Bay Freeport Zone, including Olongapo City, Clark Freeport, and Zambales and Bataan.

This year, 11 cruise-ship arrivals have been recorded in Subic so far: sev-

en for World Dream and four for Costa Atlantica, which last arrived here on May 16 with 2,000 passengers, and 800 crew and officers.

Eisma also said the SBMA’s successful initiative to develop complementation programs with nearby communities to offer curated experiences to tourists now make it necessary to develop a protocol for handling cruise-ship arrivals.

Last year, the Central Luzon Regional Development Council cited the SBMA for developing Subic into a premier cruise-ship destination in the country with more than P85 million

worth of local business generated in the first eight months alone.

SBMA Senior Deputy Administrator for Port Operations Marcelino Sanqui, chairman of the SBMA Cruise Ship Committee, said the planned cruise-ship handbook will contain step-by-step procedures from the moment a cruise ship enters Subic Bay, drops anchor at Alava Wharf, disembarks its passengers and so forth.

The handbook will inform tourists of the attractions in and around the Subic Bay area, policy dos and don’ts in Subic, road directions and emergency numbers, Sanqui added.

RABFOOD, the food-delivery arm of Grab, now accounts for more than a tenth of Grab Philippines’s revenues, as demand for food delivery in the Philippines continues to increase.

Brian P. Cu, the president of Grab Philippines, said GrabFood has taken roughly 10 percent to 12 percent of the company’s revenue pie. Transport continues to be its main revenue driver at almost 80 percent.

“We’re going at a very decent growth at 3 percent to 6 percent week-on-week. We are tapping the market, we are expanding by adding more partners, by making the app easier to navigate. GrabPay will also be capable on the payment channel for food,” he said in an interview.

Cu said the potential for the food-delivery market in the Philippines is huge, given that it is still largely untapped.

When compared to other countries, Cu said, the Philippines still has a lot of room for growth. The whole industry, he said, is accommodating around 80,000 food-delivery orders per day. In Indonesia, a very similar market to the Philippines, food-delivery orders amount to as much as 1.5 million orders per day.

“There’s still a lot of room to grow. In Metro Manila alone, there are millions of eaters. So the opportunity is big,” Cu said.

GrabFood has been in the Philippine

market for only 11 months, but it was able to secure the top spot in Kantar’s survey on the most-used food-delivery service in December last year. It has since held on to that position, as it aggressively expands to more cities.

Today, GrabFood is present in 15 cities in Metro Manila and Cebu.

Cu said his group will continue to introduce GrabFood to more cities in the coming months, as it targets to double its volume growth by end-2019.

“We want to grow by another double volume in terms of orders per day by yearend,” he said. “We’re going in a way that it is sustainable for the company.”

Grab, which has transitioned from a transport app into an everyday super app that offers various services, is celebrating its seventh year in business.

In the Philippines, Grab has been providing various services to Filipinos for six years now. It unveiled on Thursday evening a swathe of new services that will soon be introduced in the country.

Within the year, Grab will be pilot testing Bus Marketplace, a service that will allow users to check and book for bus services within the Grab app. Grab will be partnering with bus operators in Metro Manila for this service.

It will also introduce GrabBillsPay, which will allow users to pay their utility bills via the Grab app through its e-money service GrabPay.

B2

Companies BusinessMirror

Monday, May 27, 2019

PSE STOCK QUOTATIONS

May 24, 2019

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

58 133.7 80.95 26.5 11.5 71.95 13.2 58.7 57.7 110 26.6 170.4 59.3 1.2 2.17 18.78 4.41 1.38 755 0.99 185

59 134.1 81 26.55 11.56 72 13.4 59 57.75 119.9 26.7 170.7 59.6 1.25 2.23 18.8 4.58 1.42 780 1.04 187

58.9 133.2 81.05 26.5 11.52 72 13.2 58 57.75 110.5 27 171.7 59.2 1.25 2.26 18.8 4.59 1.4 750 1 185.5

59 135.8 81.3 26.7 11.58 72 13.2 59.4 57.75 110.5 27 171.7 61 1.25 2.26 18.8 4.59 1.5 780 1.04 185.5

58 131 80 26.45 11.48 70.8 13.2 57.6 57.75 110 26.5 170.1 59.2 1.25 2.23 18.78 4.59 1.37 750 0.99 185

59 133.7 81 26.5 11.5 72 13.2 59 57.75 110 26.6 170.4 59.6 1.25 2.23 18.8 4.59 1.37 775 1.04 185

17230 2714850 2021660 103400 211500 2015680 35000 774940 330 2630 29300 240210 210 3000 20000 8100 4000 166000 90 211000 2140

1016349 363002507 163457189 2739830 2436104 144703772.5 462000 45366578 19057.5 289778 779495 41081982 12503 3750 44750 152250 18360 232630 69350 212270 396750

1003000 36424785.0003 -20316193 -914330 -806882 -22529744 77818.5 82865 -19149276 -1192 -28170 -

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE CNTRL AZUCARERA CENTURY FOOD 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 CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA LMG CHEMICALS PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.41 35.5 0.275 21.55 76.5 375 22.1 6.07 4.79 2.04 12 41.05 6.5 14.52 14.7 14.7 9.95 7.49 105.5 0.72 44.45 278 9.32 12.92 0.189 1.29 12.96 1.6 5.05 1.91 0.128 153.9 1.16 2.47 2.46 16.2 9.7 13.66 21.5 9.1 1.42 1.07 1.94 4.01 4.8 45 2.31 10.1 1.69 5.3 1.21 25.6

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

0.56 12.88 899.5 52.7 14.52 6.7 0.78 1.22 1.25 6.94 10.12 14.48 880 6.15 60.7 5.95 0.49 4.64 15.08 0.52 4.32 0.039 3.27 1.07 909 179 0.94 268 0.233 0.28

1.42 35.6 0.28 21.75 77 378 22.2 6.08 4.8 2.05 12.08 41.1 6.58 14.6 16.24 15 9.96 7.5 107 0.73 44.5 278.2 9.78 13 0.202 1.3 13 1.61 5.1 2.04 0.134 155.5 1.17 2.5 2.47 16.22 9.79 13.8 21.55 9.45 1.43 1.08 1.95 4.05 4.84 45.5 2.33 10.14 1.7 5.71 1.23 26.5

1.39 36 0.29 21.35 77 378.8 22.25 6.12 4.75 2.06 12 42 6.51 14.9 14.82 15 10.06 7.5 106.9 0.72 41.7 284 9.11 13.28 0.202 1.3 13 1.58 5.05 1.92 0.128 155.8 1.16 2.47 2.52 16.1 9.8 14 22 9.4 1.42 1.07 1.95 4.01 4.99 45 2.28 10.3 1.71 5.26 1.2 26.75

1.42 36.3 0.3 21.9 77 379 22.45 6.12 4.8 2.06 12.1 42.05 6.57 14.9 14.84 15 10.06 7.5 107 0.77 44.5 284 9.82 13.28 0.202 1.34 13.2 1.6 5.1 1.92 0.128 155.8 1.18 2.47 2.58 16.3 9.8 14.08 22 9.4 1.8 1.08 1.95 4.01 4.99 45 2.34 10.32 1.71 5.3 1.23 26.8

1.38 35.3 0.27 20.85 76.5 369 21.6 5.93 4.73 1.97 12 41 6.41 14.5 14.62 14.5 9.8 7.49 105 0.72 41 277 9.02 12.88 0.189 1.29 13 1.57 5.05 1.9 0.128 153.5 1.14 2.47 2.45 16 9.6 13.62 21.45 9.4 1.38 1.03 1.94 4.01 4.8 45 2.27 10.02 1.68 5.26 1.2 25.75

1.42 35.6 0.28 21.55 76.5 378 22.2 6.08 4.79 2.05 12.08 41.05 6.5 14.6 14.64 14.7 9.96 7.5 107 0.72 44.5 278 9.78 13 0.189 1.3 13 1.6 5.1 1.9 0.128 153.9 1.17 2.47 2.47 16.22 9.79 13.8 21.5 9.4 1.43 1.08 1.94 4.01 4.8 45 2.33 10.14 1.7 5.3 1.23 26.5

1182000 610200 27530000 2128100 10500 140010 460400 2491400 79000 76684000 32500 259500 168800 450200 3200 58900 72656300 201600 92300 1873000 208500 1112480 7691800 1105400 260000 1822000 518400 120000 35900 15000 2070000 478560 4069000 9000 16999000 1939600 1066600 964700 6698500 500000 103953000 1007000 301000 1000 82000 900000 5083000 1044200 235000 1400 178000 236500

1650500 -120700 21670270 -8170780 7814950 687250 45862755 10113160 803327 -101753 52567076 -708038 10175770 1000915 15069127 -1701099 375290 154,035,170( 64,354,669.9999) 392566 -12100 10713425 -9088705 1090190 6649818 -439062 47130 866112 285208 725,813,377( 90,475,952.0004) 1511105 -122775 9811978 -2129270 1365930 8895155 1872020 309794256 -176074298 70003847 14379500 -1666038 51270 2406400 -330640 6742796 3328000 190560 181600 28570 264960 73740517 -21267948 4700490 10530 22230 22230 42181670 14940190 31209892 1122504 10428444 8818211.0001 13321792 773228 144313575 -70161235 4700000 166796040 -295900 1070440 585230 -5820 4010 393980 -384000 40500000 -0 11697390 -877580 10607008 -1964730 397590 7380 215840 18150 6237925 -1031290

HOLDING & FRIMS 0.57 13 900 53 14.7 6.85 0.79 1.23 1.26 6.96 10.16 14.5 884 6.19 60.75 6.18 0.5 4.65 15.1 0.55 4.35 0.04 3.28 1.16 920.5 180 0.95 270 0.236 0.285

0.56 13.28 895 52.25 14.66 6.84 0.75 1.25 1.26 7.02 10.32 14.2 885 6.17 59.9 5.9 0.5 4.65 15.76 0.53 4.36 0.039 3.35 1.06 922 179.6 0.89 269 0.233 0.285

0.58 13.28 900 53.5 14.74 6.85 0.93 1.27 1.26 7.03 10.32 14.5 885 6.17 60.95 6.21 0.5 4.74 15.76 0.56 4.37 0.04 3.35 1.07 922 182.9 1.28 270 0.237 0.285

0.56 12.88 870 50.2 14.28 6.84 0.75 1.22 1.26 6.92 10.06 14.2 860 6.15 59.3 5.9 0.49 4.6 15.08 0.51 4.3 0.039 3.11 1.06 900 178.8 0.88 268 0.232 0.275

0.57 12.88 900 52.7 14.7 6.85 0.79 1.23 1.26 6.94 10.12 14.48 883.5 6.15 60.7 6.21 0.5 4.65 15.1 0.56 4.32 0.04 3.28 1.07 920.5 179 0.94 270 0.235 0.28

8428000 41000 511720 1310260 2877000 4300 20848000 803000 23000 472000 2308900 267000 76140 20500 2133240 7300 10000 8531000 10079200 886000 9265000 6100000 5635000 126000 174600 219020 61980000 22540 600000 31220000

4788530 534806 457883330 68731561.5 42066346 29448 17632000 987450 28980 3281493 23483482 3816734 66990640 126130 128889874.5 44309 4960 39417160 153044016 458650 40067530 239900 18395080 133760 159160310 39349910 65666660 6062120 140740 8664050

297460.0003 -14809645 -6226816.5 1107898 -330700 -1046405 -11818942 914878 35514940 -29946185 -7140570 -76851544 -8919330 644490 -6147065 -21227362 -57810 -749450 -105500

PROPERTY

ARTHALAND CORP 0.75 0.76 0.73 0.75 0.73 0.75 263000 194040 ANCHOR LAND 10.06 11 10.04 11 10.04 11 1100 11716 AYALA LAND 47.7 47.9 48.45 48.45 47.4 47.7 8521800 407537590 -95360015 ARANETA PROP 2.07 2.15 2.13 2.18 2.07 2.15 114000 244200 BELLE CORP 2.29 2.31 2.3 2.34 2.29 2.31 113000 261080 4630 A BROWN 0.77 0.8 0.78 0.79 0.77 0.79 858000 669380 78000 CITYLAND DEVT 0.86 0.89 0.86 0.89 0.86 0.89 2000 1750 CROWN EQUITIES 0.227 0.228 0.226 0.227 0.226 0.227 430000 97400 CEBU HLDG 6.28 6.38 6.35 6.4 6.35 6.4 1500 9530 CEB LANDMASTERS 4.99 5.04 5.07 5.07 4.94 5.04 2396000 12,030,103( 2,654,639.9997) CENTURY PROP 0.59 0.6 0.59 0.61 0.58 0.6 81627000 48557640 -165210 CYBER BAY 0.38 0.395 0.395 0.395 0.395 0.395 180000 71100 DOUBLEDRAGON 23.95 24.1 24.15 24.2 23.2 24.1 899600 21278805 -1592895 DM WENCESLAO 9.75 9.76 9.99 10 9.68 9.76 684400 6711697 -2396008 EMPIRE EAST 0.485 0.49 0.485 0.49 0.485 0.49 790000 384150 -97500 FILINVEST LAND 1.58 1.59 1.59 1.6 1.56 1.58 9076000 14361570 -6725680 GLOBAL ESTATE 1.45 1.46 1.4 1.46 1.37 1.46 8820000 12568090 8990 HLDG 15.74 15.78 15.3 15.8 15.22 15.78 3085300 47356376 670862 PHIL INFRADEV 1.76 1.77 1.79 1.79 1.73 1.76 2340000 4109440 -813580 CITY AND LAND 0.78 0.81 0.81 0.81 0.81 0.81 60000 48600 MEGAWORLD 5.44 5.45 5.45 5.47 5.37 5.44 9986900 54182616 -14636478 MRC ALLIED 0.3 0.305 0.305 0.31 0.3 0.305 22030000 6643800 -288200 PHIL ESTATES 0.465 0.48 0.47 0.48 0.46 0.48 430000 202300 PRIMEX CORP 2.03 2.09 2.16 2.16 2.01 2.03 1564000 3225830 ROBINSONS LAND 23.9 24.1 24.4 24.4 23.7 23.9 1206800 28875245 -3550550 PHIL REALTY 0.41 0.415 0.415 0.43 0.41 0.415 1410000 584550 ROCKWELL 2.01 2.07 2.08 2.08 2.01 2.01 84000 170530 SHANG PROP 2.99 3 2.98 3 2.98 3 33000 98700 STA LUCIA LAND 1.9 1.92 1.84 1.96 1.78 1.92 3151000 5867530 SM PRIME HLDG 38.8 38.95 39.3 39.3 38.75 38.8 8233100 320122450 -173435390 STARMALLS 6.37 6.49 6.45 6.59 6.37 6.37 133900 856295 SUNTRUST HOME 0.72 0.79 0.72 0.76 0.72 0.76 69000 52320 VISTA LAND 7 7.21 7.08 7.21 6.94 7.21 5947500 42037127 -22190157

SERVICES ABS CBN 18.6 18.7 18.56 18.6 18.3 18.6 53900 997304 GMA NETWORK 5.36 5.38 5.33 5.39 5.3 5.36 224400 1198612 MANILA BULLETIN 0.55 0.56 0.57 0.57 0.54 0.56 1187000 657080 MLA BRDCASTING 14.22 15.98 14.16 14.16 14.16 14.16 100 1416 GLOBE TELECOM 2088 2092 2050 2102 2050 2088 73395 153154500 46826160 PLDT 1340 1350 1301 1350 1280 1350 168195 223127415 84949985 APOLLO GLOBAL 0.042 0.044 0.044 0.044 0.042 0.042 5500000 234700 DFNN INC 5.7 5.9 6.1 6.1 5.5 5.9 285000 1613684 IMPERIAL 1.76 1.91 1.76 1.76 1.76 1.76 9000 15840 ISLAND INFO 0.121 0.122 0.121 0.122 0.12 0.122 660000 80020 ISM COMM 6.2 6.21 6.5 6.5 6.16 6.21 12139900 76406673 1894282 JACKSTONES 2.91 3.04 2.95 2.95 2.94 2.94 17000 50050 NOW CORP 2.05 2.07 2.11 2.11 2.05 2.05 844000 1749030 -38950 TRANSPACIFIC BR 0.315 0.32 0.325 0.325 0.315 0.32 4340000 1395250 -32500 PHILWEB 3.14 3.16 3.24 3.24 3.09 3.16 2095000 6597940 -910700 2GO GROUP 11.44 11.5 11.5 11.88 11.42 11.44 16400 188410 ASIAN TERMINALS 21 21.3 21 21.3 21 21.3 13900 292730 -30030 CHELSEA 6.51 6.58 6.7 6.7 6.38 6.58 1489700 9747539 465418 CEBU AIR 88.95 89 88 90 87.6 89 705170 62727843.5 1440283.5 INTL CONTAINER 134.3 134.9 135.4 136 134.3 134.9 2325740 314765334 -9481293 LBC EXPRESS 14.42 14.6 14.7 14.7 14.42 14.42 5500 79470 LORENZO SHIPPNG 0.9 0.92 0.85 0.93 0.83 0.9 4199000 3682780 -164300 MACROASIA 19.8 19.9 19.7 19.94 19.48 19.9 719400 14176324 6169290 METROALLIANCE A 1.59 1.68 1.61 1.61 1.59 1.59 24000 38420 PAL HLDG 9.62 9.65 9.63 9.65 9.6 9.65 10400 100106 HARBOR STAR 2.41 2.45 2.54 2.54 2.38 2.45 1499000 3634860 180530 ACESITE HOTEL 1.31 1.38 1.31 1.4 1.31 1.38 102000 134450 BOULEVARD HLDG 0.061 0.062 0.06 0.061 0.058 0.061 66640000 3978620 -85560 WATERFRONT 0.69 0.71 0.72 0.72 0.68 0.71 3739000 2609500 -2840 CENTRO ESCOLAR 7.05 7.49 7.59 7.59 7.59 7.59 400 3036 FAR EASTERN U 890 895 890 890 890 890 410 364900 IPEOPLE 10.8 11.24 11.24 11.24 11.24 11.24 700 7868 STI HLDG 0.64 0.65 0.64 0.65 0.64 0.64 1345000 862570 98560 BERJAYA 2.82 2.83 2.85 2.85 2.58 2.82 1489000 4050230 84800 BLOOMBERRY 11.1 11.14 11.12 11.2 10.88 11.1 13174500 144,154,256( 13,069,403.9997) PACIFIC ONLINE 3.2 3.36 3.26 3.35 3.2 3.35 280000 912910 -6640 LEISURE AND RES 4.51 4.54 4.55 4.68 4.41 4.51 1969000 8859850 2246490 MANILA JOCKEY 3.79 3.9 3.86 3.91 3.79 3.79 148000 568140 PH RESORTS GRP 4.42 4.52 4.52 4.52 4.26 4.44 272000 1171300 PREMIUM LEISURE 0.75 0.76 0.76 0.76 0.73 0.75 3420000 2535720 -172690 PHIL RACING 7.21 9.5 8.44 9.5 8.44 9.5 11500 104712 TRAVELLERS 5.39 5.4 5.44 5.44 5.33 5.4 301500 1616723 -263014 METRO RETAIL 2.72 2.73 2.76 2.76 2.72 2.73 2076000 5674870 -117970 PUREGOLD 45.1 45.25 45.35 45.35 45.1 45.1 1377500 62187955 20784305 ROBINSONS RTL 71 71.05 71.3 71.3 70.15 71.05 452030 31834975 -723075.5 PHIL SEVEN CORP 119.9 124 120 125 120 124 162110 19457288 2102 SSI GROUP 3.14 3.16 3.1 3.19 3.04 3.15 6049000 18821110 4865970 WILCON DEPOT 16.4 16.42 16.38 16.52 16.34 16.42 430700 7078050 -245088 APC GROUP 0.4 0.41 0.415 0.415 0.4 0.4 210000 84850 EASYCALL 10.2 10.5 10.52 10.52 10.2 10.5 58900 609816 GOLDEN BRIA 400 405 398.2 407 398.2 405 1260 509038 IPM HLDG 5.7 6 6 6 5.7 5.7 7200 41310 PAXYS 2.95 3.19 3 3 3 3 4000 12000 3000 PRMIERE HORIZON 0.78 0.79 0.81 0.81 0.76 0.78 60387000 47290110 -1682000 SBS PHIL CORP 9.06 9.65 9.5 9.65 9.39 9.65 244800 2347162

MINING & OIL ATOK 10.62 11.68 11.74 11.84 10.62 11.68 6000 68018 APEX MINING 1.07 1.09 1.07 1.12 1.04 1.07 4316000 4669740 -3147140 ABRA MINING 0.0018 0.0019 0.0019 0.0019 0.0018 0.0019 469000000 891000 ATLAS MINING 2.71 2.81 2.7 2.71 2.7 2.71 71000 191710 -2710 BENGUET A 1.1 1.16 1.1 1.1 1.09 1.1 10000 10930 BENGUET B 1.12 1.33 1.14 1.14 1.11 1.11 31000 34680 COAL ASIA HLDG 0.285 0.295 0.29 0.29 0.285 0.29 250000 72350 CENTURY PEAK 2.77 2.81 2.82 2.82 2.77 2.81 221000 616660 -28100 DIZON MINES 7.76 7.8 7.73 7.9 7.63 7.8 3100 24092 FERRONICKEL 1.54 1.55 1.59 1.59 1.53 1.55 485863000 751399650 692590 GEOGRACE 0.232 0.233 0.222 0.232 0.219 0.232 480000 109870 LEPANTO A 0.106 0.108 0.111 0.111 0.108 0.108 190000 20640 LEPANTO B 0.104 0.109 0.104 0.104 0.104 0.104 390000 40560 MANILA MINING A 0.0077 0.0084 0.0077 0.0077 0.0077 0.0077 10000000 77000 MANILA MINING B 0.0078 0.008 0.0078 0.0078 0.0078 0.0078 2000000 15600 MARCVENTURES 1.02 1.03 1.03 1.03 1.03 1.03 2000 2060 NIHAO 0.98 0.99 0.99 0.99 0.98 0.99 4000 3940 NICKEL ASIA 2.15 2.16 2.16 2.16 2.14 2.15 694000 1493410 -272780 OMICO CORP 0.56 0.61 0.61 0.61 0.55 0.61 45000 26660 ORNTL PENINSULA 0.87 0.88 0.87 0.88 0.87 0.87 63000 54820 PX MINING 2.87 2.94 2.89 2.94 2.86 2.87 321000 933250 -17450 SEMIRARA MINING 22.3 22.35 22.65 22.65 22.3 22.35 2514800 56361460 29075645 UNITED PARAGON 0.0063 0.0069 0.0065 0.0065 0.0064 0.0064 5000000 32100 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 19500000 214600 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 500000 5500 PHILODRILL 0.01 0.011 0.012 0.012 0.01 0.011 989500000 10872800 122000 PHINMA PETRO 3.94 3.95 3.95 4.1 3.8 3.94 77000 295740 PXP ENERGY 7.68 7.7 7.85 7.85 7.68 7.68 1401400 10814303 -367670

PREFFERED

HOUSE PREF A 95.1 97.5 97.5 97.5 97.5 97.5 10 975 AC PREF B2 483.2 500 485 485 485 485 1200 582000 DD PREF 97.5 98 96.5 96.5 96.5 96.5 380 36670 SMC FB PREF 2 970 980 970 970 970 970 1530 1484100 FGEN PREF G 104 104.3 104 104 104 104 80 8320 GTCAP PREF A 899 916 899 899 899 899 10 8990 LR PREF 0.98 1 0.99 0.99 0.98 0.98 156000 153980 MWIDE PREF 100.5 101 100.6 100.6 100.5 100.5 9500 954760 PNX PREF 3A 99.65 102 101.9 101.9 101.9 101.9 100 10190 SMC PREF 2B 74.85 75 75 75 75 75 2470 185250 15000 SMC PREF 2C 76.9 76.95 76.3 76.9 76.2 76.9 3710 282948 SMC PREF 2E 71.7 72.5 72.5 72.5 72.5 72.5 60 4350 SMC PREF 2F 73.8 74.4 73.9 73.9 73.85 73.85 11290 834016.5 SMC PREF 2H 72.4 73.85 73 73 73 73 3400 248200 SMC PREF 2I 73 73.5 72.25 73.5 72.25 73.5 390 28585 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.92 5.11

18 5.35

18 5.35

18 5.35

17.9 5.35

18 5.35

21000 100

377628 535

WARRANTS LR WARRANT

2.12

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.7 XURPAS 1

2.13

2.08

2.15

2.03

2.13

520000

1090550

-

4.75 1.01

4.68 1

4.82 1

4.62 0.98

4.75 1

176000 2524000

826240 2506260

-230000

EXHANGE TRADE FUNDS FIRST METRO ETF

116

-291580 -

116.3

117

117

115

116.3

3080

356799

91640

www.businessmirror.com.ph

SM Prime opens new BPO office building in Iloilo City

S

By VG Cabuag

@villygc

M Prime Holdings Inc. said over the weekend that it opened its office building tower in Iloilo City, hoping to serve the business-process outsourcing (BPO) sector in the area.

With a total leasable area of 23,000 square meters (sq.m.) across 13 office floors, the company said Strata Tower aims to establish BPO and office presence within the city and its neighboring towns.

It has retail shops in the ground floor, including SM Savemore Supermarket, it said.

Strata Tower is located along Iloilo City’s main highway and transport backbone, Benigno Aquino Jr. Avenue.

It is accessible via a secondfloor covered bridgeway across SM City Iloilo Mall, providing ease of public transportation for employees 24/7.

SM Offices is the commercial property development and management arm of SM Prime. SM Offices offers 35 operational office properties with a combined gross floor area of 642,000 sq.m. in 20 strategic locations across the Philippines.

Gartner cites Infor as leader in warehouse-management systems

B

USINESS cloud software provider Infor was cited by Gartner Inc. in the 2019 Magic Quadrant for Warehouse Management Systems because of its ability to execute and completeness of vision.

“We believe that Infor’s position as a leader in this Gartner Magic Quadrant reaffirms our belief that a single, unified, global warehousing solution built to take advantage of business value of the cloud provides a strong foundation for sustainable growth in the age of customer-driven supply chains,” said Rod Johnson, EVP and GM, manufacturing and supply chain for Infor.

Gartner said WMS offerings, amid the mature market, keep on making a difference in areas like usability, adaptability, intelligence, scalability up and down market, and life-cycle costs.

“Furthermore, customers increas-

ingly favor supply-chain suites that can support end-to-end logistics process orchestration,” the world’s leading research and advisory company said in the report.

Infor CloudSuite WMS is the next evolution of Infor SCE (Supply Chain Execution), combining its improved capabilities in warehouse management with the computing power of the cloud.

As a cloud offering, it offers the same experience to customers, no matter how they choose to deploy it, whether multi-tenant, single-tenant or on-premises. It has native support for 14 languages.

The newest addition to Infor’s CloudSuite products also brings the agile, flexible and proven performance that customers expect.

Visual warehousing, labor management and open API framework come standard with CloudSuite

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices rebounded last week, with the main index gaining more than 2 percent, possibly caused by the policy decision of the Central Bank.

The benchmark Philippine Stock Exchange index gained 163.27 points to close at 7,747.09 points.

“The Bangko Sentral ng Pilipinas came out with a set schedule of reductions to the Reserve Ratio Requirement [RRR] for major and rural banks. The reduction in the RRR will release about P200 billion into the economy, which is seen to propel GDP and spur growth in the following quarters,” said Christopher Mangun, research head at Eagle Equities Inc. The main index gained for three consecutive days at the start of the week, before slightly retreating starting on Thursday.

Foreign investors were net sellers at P5.64 billion, while volume of trade for the week averaged P5.91 billion for the week.

“Last Friday marks the 12th straight day of foreign selling with around P13.86 billion exiting Philippine equities. This could be due to the fact that foreign investors are repositioning funds in relation to the MSCI rebalancing that happened last week,” Mangun said.

Among the subindices, only the Mining and Oil index gave up points and was down 59.48 to 7,197.18, while the rest gained.

The All Shares index rose 68.58 points to close at 4,781.85; the Financials index added 6.06 to 1,706.79; the Industrial index climbed 157.31 to 11,215.73; the Holding Firms index surged 306.11 to 7,376.01; the Property index gained 33.42 to 4,172.31; and the Services index added 20.88 to 1,657.47.

Losers slightly edged out gainers 113 to 108, and 27 shares were unchanged.

Top gainers for the week were TKC Metals Corp., Century Properties Group Inc., Berjaya Philippines Inc., Lorenzo Shipping Corp., Philippine Racing Club Inc. and Ginebra San Miguel Inc.

THIS WEEK

SHARE prices may try to go up this week, but analysts warned it would still be a volatile week as funds are expected to flow into the market with the month-end window dressing.

“Expect another volatile week to prevail, with attention glued to US-China trade talks and other local headlines. Funds flow would also gyrate given the month-end portfolio closing, as well as implementation of MSCI rebalancing,” broker 2Tradeasia said.

It advised to go for stocks with solid earnings stories. It said immediate support for the main index is at 7,700 points and resistance at 7,900.

“We have seen massive foreign selling in the last two weeks, which means local investors have been picking up the slack and buying equities at much attractive prices than they have been for months. As economic fundamentals continue to improve and government spending starts to pick up, we will see investors gain more confidence, which will continue to bring them back into the market. This will fuel the rally as it breaks above the heavy resistance level at 8,000,” Mangun said.

STOCK PICKS

BROKER Regina Capital and Development Corp. advised to buy during breakout on the stock of Petron Corp. after a series of ups and down, attempting to breach its resistance level of P6.20 per share.

“At this point, Petron still holds some bullish bias to at least make an attempt at the upper limit within the week. Enter once this limit is broken. Otherwise, wait for the correction to find bottom before reentering,” it said, giving a weekly target on the stock at P6 per share.

Petron shares closed last week at P6.08 apiece.

Meanwhile, the broker advised to sell the shares of LT Group Inc. after it breached the weeklong support of P16.20. This puts the next support at P15.80, followed by P15.38, the broker said.

“The drop has also placed LTG below its 50-day and 100-day moving averages. Indicators all imply continued selling pressure in the near-term,” it said.

LT Group’s shares closed Friday at P15.10 apiece. VG Cabuag

WMS. They help lessen the need to add additional features or customizations, while paving the way for advanced warehousing capabilities.

Infor offers different applications that span across financials, manufacturing, supply chain, human resources, customer relationships, health care, retail and the public sector.

The global leader in business cloud software specialized by industry serves more than 68,000 custom-

MUTUAL FUNDS

ers in over 170 countries through its 17,300 employees worldwide.

In the Philippines alone, it has over 300 customers in various industries, such as food and beverage, fashion, logistics, and manufacturing and distribution, among others.

For fiscal year 2018, Infor posted more than $3 billion in revenue. At the latest, 70 percent of its software license revenue is derived from cloud applications. Roderick L. Abad

May 24, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 260.59 0.62% 0.76% 0.63% 3.31% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5975 5.06% 8.64% 3.12% 10.88% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0572 -1.55% 0.76% -0.3% 3.95% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9308 2.2% N.A. N.A. 4.53% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8652 3.22% N.A. N.A. 5.42% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4128 1.69% 0.59% 0.61% 2.69% MBG EQUITY INVESTMENT FUND, INC. -A 123.95 8.92% N.A. N.A. 6.43% ONE WEALTHY NATION FUND, INC. -A 0.8661 0.15% -4.19% N.A. 4.05% PAMI EQUITY INDEX FUND, INC. -A 51.5286 3.39% 1.53% N.A. 4.72% PHILAM STRATEGIC GROWTH FUND, INC. -A 537.12 2.48% 0.53% 0.45% 4.35% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3071 3.99% 2.27% 3.13% 4.23% PHILEQUITY FUND, INC. -A 38.3756 4.04% 3.04% 2.58% 4.76% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0331 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A

5.2218 3.8% 2.52% 2.74% 5.3% PHILIPPINE STOCK INDEX FUND CORP. -A 871.69 3.85% 2.22% 2.68% 5.21% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9246 6.36% 1.63% N.A. 7.36% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2774 4.35% 2.44% 1.94% 5.38% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0022 3.36% 2.18% N.A. 5.02% UNITED FUND, INC. -A 3.7086 4.64% 4.75% 2.85% 5.93% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 116.7187 4.23% 3.28% 3.76% 5.39% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9557 -13.08% 5.9% -0.17% 2.86% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2647 -2.65% 8.28% N.A. 14.44% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7075 0.75% -1% -1.73% 3.41% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2903 0.01% 0.54% 0.32% 3.67% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6184 1.52% -0.71% -1.61% 2.93% GREPALIFE BALANCED FUND CORPORATION -A 1.3485 0.66% N.A. N.A. 3.39% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9165 3.34% 1.03% 1.09% 3.98% PAMI HORIZON FUND, INC. -A 3.6652 1.84% -0.31% 0.1% 3.85% PHILAM FUND, INC. -A 16.542 2.85% -0.12% 0.19% 3.99% SOLIDARITAS FUND, INC. -A 2.1326 2.51% 1.28% 1.69% 2.91% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.83 4.12% 1.07% 1.16% 4.89% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9951 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9909 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9887 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9791 4.08% 1.26% N.A. 6.23% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03656 5.57% 0.82% 1.55% 3.72% PAMI ASIA BALANCED FUND, INC. -A $0.9499 -9.4% 3.25% -1.24% 1.46% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6664 - 0.3% 6% 2.62% 10.82% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0854 0.98% 3.67% N.A. 7.47% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 348.84 3.06% 2.03% 2.12% 1.59% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8859 1.52% -0.28% -0.39% 1.44% COCOLIFE FIXED INCOME FUND, INC. -A 3.0334 5.43% 5.26% 5.27% 2.11% EKKLESIA MUTUAL FUND INC. -A 2.1678 2.59% 1.13% 1.65% 1.75% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2694 2.37% 0.56% 0.97% 2.72% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6047 1.81% -0.77% -0.01% 2.58% PHILAM BOND FUND, INC. -A 4.0708 2.89% -0.45% 0.57% 3.85% PHILEQUITY PESO BOND FUND, INC. -A 3.6284 3.91% 1.14% 0.98% 3.16% SOLDIVO BOND FUND, INC. -A 0.9229 1.83% -0.74% N.A. 3.39% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9043 6.02% 1.48% 1.66% 5% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6098 5.61% 0.91% 1.2% 4.54% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $455.7 3.22% 1.82% 2.74% 1.66% ALFM EURO BOND FUND, INC. -A Є216.02 1.59% 1.43% 1.47% 1.58% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1712 5.37% 1.7% 2.09% 4.03% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0254 2.83% 0.94% N.A. 2.42% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7138 1.31% -1.31% 0.66% 1.4% 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 $1.0692 3.98% -0.4% -2.21% 3.05% PHILAM DOLLAR BOND FUND, INC. -A

$2.2825 6.75% 0.75% 2.67% 5.13% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0585722 3.47% 1.34% 1.72% 2.79% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9964 4.03% 0.07% 2.02% 4.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.99 3.54% 2.31% 1.86% 1.78% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0118 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2027 3.09% 1.38% 0.87% 1.76% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A

1.2392 3.51% 2.56% 1.94% 1.66% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0258 2.1% N.A. N.A. 0.97%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018.

3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

www.businessmirror.com.ph

Insignificant ‘digital change’ blamed for PHL ‘finservices’ lag

By Cai U. Ordinario @caiordinario

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HE country’s financial services sector lagged behind its Asean peers due to lack of “significant transformation” in the past 30 years, according to a consultant of the Philippine Institute for Development Studies (PIDS).

In a policy note titled “Financial sector development: A review,” PIDS consultant Melanie S. Milo said that in terms of financial depth, access and efficiency, the Philippines was still lagging behind its Asean peers.

However, the Philippines remained one of the most stable in the region. The Philippine’s banking sector, Milo said, has also been resilient in the face of global financial crises.

“A review of the state of the Philippine financial services sector indicated that there has been no significant transformation over the past three decades. A review of the financial regulatory framework also showed that key domestic regulations remain restrictive,” Milo said.

Milo said the assessment was made based on the measures provided by the World Bank. Financial depth means the size of financial institutions and markets and access referred to the degree to which individuals can use financial services.

She added that efficiency, based on World Bank standards, meant the efficiency in facilitating financial transactions while stability referred to capitalization and returns and the potential for risk faced by financing institutions. This is measured through nonperforming loans.

The PIDS consultant explained that in terms of financial deepening, access, and efficiency, the Philippines lagged behind Malaysia and Thailand. The country has also fallen behind Vietnam in many aspects of financial development.

In terms of financial depth, the Philippines banking sector was smaller than Malaysia and Thailand.

Milo added that private credit in the country was also the lowest in the region at 75 percent in 2016.

Milo said the Philippines insurance market’s density and penetration was also lower than the average for emerging markets, while the activity in the local bourse “has been low, if not stagnant in the last 20 years.”

In terms of access, Milo said the Philippines still has one of the lowest deposit accounts in the region.

This despite having more banks per 1,000 adults than countries like Lao PDR (as of 2016 data).

Milo said one of the indicators for efficiency is the stock market’s turnover ratio: the higher the turnover ratio, the more liquid the market and thus more efficient.

“The turnover ratio is highest in Thailand in recent years, followed by Vietnam, Singapore and Malaysia,” Milo said. “The Philippines had the lowest turnover ratio indicating the thinness of its stock market.”

In order to address these concerns, Milo recommended that the financial services market must offer more financial products and services both to consumers and businesses.

She said there is a need to craft a comprehensive and detailed longterm strategic action plan for the Philippine financial sector.

Milo said this should help the financial sector identify reforms to address the weaknesses and reform it into an inclusive financial sector that is needed to support the country’s economic development.

“Any economic transaction requires efficient and reliable access to financial services to some degree. Thus, financial services should be provided in the most efficient and sound way to support economic growth and development,” Milo said.

Banking&Finance BusinessMirror

Monday, May 27, 2019 B3

Ayala-backed fintech awaits BSP move for QR standard for mobile payments

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HE Bangko Sentral ng Pilipinas’s (BSP) move to create a national QR standard for offline mobile digital payments changes the game for financial technology (fintech) players and banks alike.

Globe Fintech Innovations Inc. Vice Chairman Ernest L. Cu said with this move, the battle for the tech’s usage now lies on user experience, no longer pervasiveness.

Globe Fintech, which operates GCash, has been aggressively promoting to merchants its QR payments product. Today, it has about 70,000 merchants onboard

its QR platform.

“What it all means is that our QR merchants will be available to everybody. If it goes the way it’s going to go, which is a single standard, it opens up to everybody what we have and they open up what they have to us. From that point on, it’s all about customer experiences. It’s about having the money in your

wallet,” he said in an interview.

Deputy Governor Chuchi G. Fonacier of the Central Bank’s Financial Supervision Sector said the BSP aims to issue a regulation for QR payments next quarter.

“We’re now working with the industry for a national QR standard.

We should only have one national standard. It’s coming up in the third quarter,” she said.

Currently, fintech companies and banks have different QR payment schemes. For instance, a merchant which has been enrolled in the QR payments system of GCash, PayMaya and BDO has three separate QR codes for offline digital payments.

However, with a national standard, that same merchant will only need one QR code for its store. Hav-

ing one QR code for merchants already accepting this form of payment opens up the market to new players, GrabPay and Coins for example.

“We’re really pushing for interoperability. It should be easy if there’s only one national standard for QR. That will enable a lot of small transactions. Even the farthest area in the Philippines can do payments or buy something,” Fonacier said.

She added that this will also be beneficial for tourists, especially those that use mobile digital payments as their main wallet.

China, for example, has a huge QR penetration. In the Philippines, Chinese visitors consistently rank second in the list of top tourists per month.

Globe Fintech President Anthony Thomas said his group supports this

Some traders may beat central bank to rescue of beleaguered Korea won

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HILE the Bank of Korea has little scope to hike interest rates to defend the won at its meeting this week, investors trading on technical levels in the foreign-exchange market may help arrest the currency’s decline.

Policy-makers in Seoul have struggled to slow the won’s fall against the dollar, despite a flurry of jawboning comments from the central bank and the finance ministry, since it broke out of a 10-month trading range in April.

Yet the won’s 6.1-percent decline against the greenback, which makes it Asia’s worstperforming currency this year, has brought large speed bumps into sight.

“The magnitude of the KRW’s underperformance shows the market has disregarded South Korea’s strong fundamentals,” says Ronald Man, a strategist at Bank of America Merrill Lynch in Hong Kong.

Given the nation’s current account surplus and adequate foreign-exchange reserves, the won normally outperforms its Asian peers as risk-off sentiment rises, according to Man. He believes that it is “just a matter of time before onshore corporates start selling” dollar-won.

He sees the pair at 1,140 this quarter and 1,110 at year-end, compared with its close Friday of 1,188.30. A sharp drop in Korean semiconductor exports, some speculation for a rate cut and the US-China trade war have combined to hurt the won. Its decline has

outpaced the next two worst-performing Asian emerging-market currencies, with the Taiwan dollar down 2.5 percent and the Malaysian ringgit falling 1.3 percent.

Key support

FROM a technical viewpoint, the dollar-won’s slow stochastics reading has risen to 94, suggesting it’s overextended.

That increases the probability that the pair will at least consolidate near-term. Support at 1,213.22, a low on January 3, 2017, should also help limit short-term weakness.

This should be some comfort to the Bank of Korea, given that the US-China trade war and a raft of poor domestic data virtually rule out any prospect of policy-makers raising interest rates when they meet on May 31.

While expectations are mounting that the Bank of Korea will need to cut rates later this year to spur the economy, the currency’s woes make this a dicey proposition. Doing nothing could actually look a bit like standing firm as the chorus of other central banks turning dovish gets louder, adding a smidgen more support to the won. Bloomberg News

Perspectives

Ecosystems rock

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HE preeminent position held by Chinese insurtech (insurance technolog) pioneers is undeniable.

Unhindered by legacy systems and processes and unburdened by the regulatory structures of more developed markets, companies like Zhong An and Ping An have been the poster boys of insurtech. Being first to market was not the secret of their success.

It was founded on sound technology, nimble business practices and one key component that has revolutionized the insurance business in China—micropayments.

Customer-centricity

DEVISING a customer-centric model involves making it easy—even enjoyable—for customers to do business.

Taking payment for digital services has, to date, been the most painful part of the exercise and can put people off completing a transaction. Biometric security has made micropayments simple for millions of consumers across the world via their mobile phones or wearable tech, and now insurance must fall into step. After all, simple, painless payments can make for repeat business. The quicker and easier a transaction becomes, the happier—and more loyal—a customer becomes.

It is simple human nature to be satisfied with those who do not make life difficult.

Micropayments

DEVELOPING sound micropayment systems will help to unlock sections of the developing markets that have low current levels of insurance penetration.

Zhong An has shown that efficient management of millions of tiny payments can develop new markets when the old manual systems simply could not operate profitably.

Systems using mobile telephony have had some success in parts of Africa, but there is a lack of standardization and the technology is relatively expensive.

Millicom’s Tigo is one platform that has had success in Africa (and is now focused on Latin America) in developing a sales platform whose payments are managed by the telco. Though the expansion of unstructured supplementary service data (USSD)—a Global System for Mobile communication technology that provides an interface between a mobile phone and an application—offers some hope, the ecosystems developed by the Chinese disruptors are far more advanced.

More than just taking the money

WHILE quick and easy payment is an important factor, the ecosystem that builds up around a platform will likely be what keeps customers there.

Just as retail focuses on the experience rather than simply selling units, so insurance must follow. These ecosystems can offer customers a one-stop shop to conduct business, and simplicity of payment is just one crucial component to building effective ecosystems.

They will be one-stop online platforms, where customers not only buy insurance, but interact with social media. China has developed a model of payments + social + mobile + data.

An example is Tencent with its combination of payment, social media and contextual messaging in a single app (WeChat). This platform generates 38 billion messages every day, producing a rich source of data to feed back into insurers’ analytics engines.

However, many jurisdictions may see greater engagement from their regulators.

These agencies need to understand how the transformed businesses will be different and what this means for governance and consumer protection.

Brexit may have very specific consequences for regulations in the UK market, but there are other forces at work that need to be considered. The General Data Protection Regulations (GDPR) were implemented across the EU in 2018 and have made some considerable changes to responsibility around data. The debate has already begun in Washington about the possible introduction of similar consumer protection regulation into the US market in 2019.

Regulatory oversight always comes at a cost and requires careful management. It is another reminder to insurers that it is time to get serious about transforming into a digital business.

The excerpt was taken from the KPMG publication entitled “Insurtech 10: Trends for 2019.”

R.G. Manabat & Co. is a Philippine partnership and a member-firm of the KPMG network of independent memberfirms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

Lorenz S. Marasigan

Order tightening control on flow of goods effective June

T BUNDLES of South Korean 50,000-won banknotes are arranged for a photograph at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea, on August 14, 2017. BLOOMBERG

move by the Central Bank, even as this means that competition may take advantage of the company’s already-pervasive QR reach.

“We’re committed to interoperability to make it available to everyone. It also expands the number of users that have access to financial technology,” he told the BusinessMirror.

Thomas noted that his group may suggest to the Central Bank methods, systems, and processes to ensure the security and effectiveness of the future uniform QR system.

“We’re actively engaging with them to avoid mistakes of the past in interoperable models,” he said.

GCash is one of the largest e-money operators in the Philippines with 20 million accounts in its system.

HE Bureau of Customs (BOC) said it will implement by June two Customs Memorandum Orders (CMOs) tightening control on the flow of goods in the country’s ports.

In a statement issued on Sunday, the BOC said the implementation of CMO 05-2019 in line with the registration of truckers and CMO 18-2019 on the lodgement period for goods declaration will be implemented on June 1 as agreed upon during a public consultation held on May 16 at the Port area in Manila. The BOC said that it will be issuing amended or revised versions for the orders.

On May 16, Commissioner Rey Leonardo B. Guerrero convened the heads and representatives of various stakeholders’ association of the BOC and the officials of the bureau.

The Customs chief explained during the forum the BOC issued the CMOs for purposes of trade facilitation and revenue-generation enhancement.

The stakeholders were given an opportunity to present their inputs on the guidelines that were taken into consideration by the BOC, according to Guerrero.

“BOC will make the necessary remedies to the orders that are more advantageous to both the government and the stakeholders,” he added.

Earlier in May, the BOC deferred the implementation of the shortened period for the lodgement of goods declaration.

Under CMO 18-2019, which was issued on April 29, the BOC has ordered the adjustment of the period of lodgement of goods, declaration of goods, and payment of duties and taxes from 15 days to seven days from the date of discharge of the last package from the vessel or aircraft.

The shortened period for the lodgement of goods declaration was pointed out to help in terms of keeping with the BOC’s mandate on facilitating trade, optimizing revenue generation, further easing port congestion, streamlining processes, as well as protecting the interest of its stakeholders.

The Chamber of Customs Brokers Inc. (CCBI) sent a letter to Guerrero on May 2 requesting for the deferment of the implementation of CMO 18-2019, stating no public consultation was mounted with BOC stakeholders before the issuance of the said CMO. These concerns emphasize it takes more than seven days for requirements to be completed by customs brokers when dealing with shipments that go through the BOC. In February, the Confederation of Truckers Association of the Philippines Inc. welcomed the suspension of the implementation of CMO 05-2019 in line with the registration of truckers that do business with the bureau. According to the CTAP, there is still a need for further consultation with stakeholders to address all concerns.

CTAP’s Legal Counsel Ryan P. Esponilla told the BusinessMirror that CMO 05-2019, which requires truckers to submit documents for the BOC database, is just duplicity.

The CMO requires truckers to register at the BOC’s Account Management Office (AMO) for those operating in Metro Manila, or with the office of the district collector nearest to its principal place if outside the metropolis. A registration fee of P5,000 is asked from applicants attaching a BOC official receipt upon payment.

The suspension of the CMO came on the heels of the CCBI’s request for the BOC to defer its implementation, citing that the CMO “did not undergo the usual public and government consultation before the said CMO was finalized and approved by your office. Rea Cu

B4 Monday, May 27, 2019

SHARP PIONEERS 8K TV IN THE PHILIPPINES

S 121 FARMERS PASSED SM TRAINING PROGRAM

121 farmers comprising Batch 196 of SM Foundation’s Kabalikat sa Kabuhayan farmers’ training program successfully finished their training after 12 weeks. Guests purchased their produce in a harvest festival held at the demo farm in Sitio Manalpaac, San Pablo, Cauayan City. The graduation of Batch 196 added more farmers on the list of program beneficiaries who learned modern vegetable farming techniques in a dual-tech setting, through SM Foundation’s training program. Project partners were Harbest Agribusiness Corp., Department of Social Welfare and Development, Department of Agriculture and the local government of Cauayan City.

SOUTHERN NON-LIFE INSURANCE AGENCY PUTS YOUR NEEDS AT THE TOP OF THEIR LIST

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E buy insurance because we want assurance.

With Southern Non-Life Insurance (SNLI) Agency (www.southernnonlifeinsurance.com), you are assured of the care that you deserve at a price you can afford.

At SNLI, keeping the addressing the customer’s needs is paramount. The company is guided by a business ethics geared toward providing the client the best insurance protection possible.

“We offer a lower premium and flexible payment terms [offers six-month installment],” Edcil Nival explains. “Despite being an affordable option, we still offer premium and prompt aftersales service. We respond promptly to the needs of the customer. Even if it’s Sunday or Saturday, they can still contact us regarding their claims,” he adds.

The company has a customer hotline, where

customers can contact them even on weekends. In order to make more things even more convenient for the customer, aside from their several branches, the company plans to digitize their insurance system, including things like e-payment and e-policy. As an after effect of their excellent service, the reputation of the company is built through word-of-mouth.

At just three years in the nonlife-insurance industry, SNLI is already a fast-growing player. It is comprised of a hard-working team of individuals who are passionate on serving and helping people.

Their focus is comprehensive motor insurance, but the company also offers other nonlife-insurance products—property/fire insurance, personal-accident insurance, bonds insurance, engineering insurance, marine cargo and casualty lines—depending on the client’s needs.

MOSCOW BALLET COMPANY LA CLASSIQUE SET TO PERFORM ‘SWAN LAKE’ ON PHILIPPINE STAGE

H A R P Phi lippines Cor p.

(SPC) continuously provides innovative, world-class products that cater to the wants and needs of its consumers. As the leading appliance brand, SPC finally brought Aquos 8K, the first-ever 8K LED TV, to the local market.

In fact, it is the first commercially available 8K TV in the country.

In 2016 SPC first introduced the Aquos XU series, which features the highest resolution on a TV right now. The Aquos XU Series was able to achieve 8K resolution, producing true-to-life detail, very vivid color expression and the deepest contrast on a TV yet. This only proved that SPC has raised the bar when it comes to home entertainment.

The Aquos 8K LED TV, which was initially launched last year, reproduces

images at “ultimate reality”, with ultra fine details the naked eye cannot capture. Apart from the extraordinary 8K display feature, the Aquos TV is also powered by 8K master engine, built-in Wi-fi, Bluetooth, Chromecast, Dolby Audio and Android TV.

Positioned to be the leader in 8K-display industry, SPC officially made Aquos 8K TV available to the public, in the last quarter of 2018. With its great level of realism by greater color reproduction, Aquos 8K is making a huge wave in the Philippine market.

A WHOLE NEW SHOPPING EXPERIENCE WITH LAZADA’S O2O TECHNOLOGY

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OP e-commerce platform Lazada continues to br ing fashion for ward to the Philippines, and connect brands and sellers, and e-commerce and entertainment, as it held its first-ever “See Now, Buy Now” fashion show.

The May 17 mega event kicked off Lazada’s first-ever three-day Women’s Festival, which ran until May 19, in which shoppers got to choose from over 50,000 new styles and enjoy deals up to 90 percent off.

The fashion show was held at The Atrium of Eastwood Mall, which leveraged on cutting-edge in-app livestreaming technology and Lazada’s e-commerce platform, allowing both attendees and customers to watch the event on their Lazada app, and buy products or brands that they saw real time. Viewers also got a chance to interact with influencers, and won special prizes and collectible vouchers as they tuned in live.

“Lazada continues to be the game-

changer by revolutionizing the way consumers get access to and shop for their fashion wants and needs. With See Now, Buy Now, we are bringing together the best of our technology,

fashion [and] entertainment to better engage Filipinos and offer them a oneof-a-kind multisensory shopping,” said Jason Huan, Lazada Philippines chief marketing officer.

DAIICHI’S LATEST ARCA SOUTH PROJECT BAGS INTERNATIONAL PROPERTY AWARD

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ORLD-RENOWNED Moscow ballet company La Classique comes to Manila for a dramatic production of Swan Lake, a timeless favorite set to Russian composer Tchaikovsky’s superb score.

Their resident show at the New Frontier Theater is set from June 14 to 22. Sharing the stage with the Moscow Ballet Co. are two acclaimed bolshoi/ballet stars Nina Kaptsova and Alexander Volchkov.

Choreographed by Marius Petipa and Lev Ivanov, the Swan Lake will be accompanied by the Russian Symphony Orchestra, under the

baton of conductor Yaroslav Tkalenko.

La Classique was founded in 1990 by current director Erik Melikov. The ballet company has thrilled ballet lovers during hugely successful tours in Egypt, Morocco, France, Spain, Italy, Austria, Norway, Israel, Thailand, Taiwan, China, Japan, Australia and New Zealand, as well as in the United Kingdom.

Tickets are available at all Ticketnet and Ticketworld outlets. You may also visit www. ticketnet.com.ph and www.ticketworld.com.ph for reservations.

HOLIDAY INN WELCOMES NEW BAGUIO MAYOR Former chief of the Criminal Investigation and Detection Group, and newly elected Baguio City mayor Benjamin Magalong (second row, center) poses for a photo with the staff of Holiday Inn Baguio City Centre, after having a victory meal with family at the hotel’s Lamisaan dining and bar. Magalong was pronounced winner of the Baguio City mayoral race on Monday night. Holiday Inn Baguio Centre, along Legarda Road, is fast becoming a favorite meeting and hangout place for families and groups.

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AIICHI Properties, one of the Philippines’s leading officespace developers, received the Five Star Best Office Development Philippines Award for its Fifty Six Central project at the recently concluded 2019 Asia Pacific Property Awards on May 15 in Bangkok, Thailand.

Embracing the emergence of active and working space concepts, Fifty Six Central is Daiichi Properties’ first and newest project at the heart of the emerging business district of Arca South in Taguig City. Thoughtfully designed to support flexible business, Fifty Six Central is adjacent to the

much-anticipated Taguig Integrated Terminal Exchange, which will serve as a central station for provincial buses carrying passengers to and from Southern Luzon, and the Visayas and Mindanao. The ITX is also connected to the Philippine National Railways FTI Station and the planned Mega Manila Subway.

Part of the renowned International Property Awards, the Asia Pacific Property Awards celebrates the best companies and developments in the region’s real-estate industry. This new recognition for Fifty Six Central follows four other International Property

Awards wins that Daiichi Properties received for its other building projects: One World Place in 2013 and 2014, World Plaza in 2015 and 2016, and The Finance Centre in 2016 and 2017.

It was also awarded the Best Developer Website for Property Developers in the Philippines in 2017 and 2018. “ We const a nt ly d r ive towa rd creating structures of the highest st a nd a rd s, a nd t he consec ut ive awards we have received from the Asia Pacific Property Awards represent our company’s track record and culture.

As we continue to build new stories, Fifty Six Central is a culmination of Daiichi Properties’ experiences of developing award-winning, innovative and sustainable buildings....,” Daiichi Properties Senior Vice President Charmaine Uy said.

T he bu i ld i n g s de ve lo p e d b y Daiichi Properties, including Fifty Six Central, have been designed in close collaboration with Gensler, an international design firm that was ranked first for three years running, in Building Design’s 2018 World Architecture 100.

Daiichi Properties’ newest building is a pre-certified Leadership in Energy and Environmental Design Silver project and is currently underway to securing building accreditation from the Philippine Economic Zone Aut hor it y. Equ ipped w it h f u l ly redundant backup power and data, highspeed destination-based elevators, and VRF air-conditioning system, Fifty Six Central ensures workplace-efficiency and business continuity.

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The Associated Press

By Ian Harrison

It will be the two-time defending champions against a Raptors team that will finally bring the NBA Finals outside the US after entering the league in 1995.

“They’re one of the greatest teams in history,” Raptors Coach Nick Nurse said of the Warriors. “It will be a tall task, but we’ll try to figure it out.”

Pascal Siakam scored 18 points, Lowry had 17 and Fred VanVleet 14 for the Raptors.

Lowry held the game ball and picked up his children after the game, finally getting to the championship round after the Raptors kept falling short against Cleveland.

“It’s taken a long time to get here in my career,”

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AKLAND, California—Stephen Curry hears the dynasty discussion about his Golden State Warriors during another postseason run.

Draymond Green realizes special teams only stay together for so long before something breaks them apart.

That’s why the Warriors decided from Day 1 of training camp to cherish this season.

Golden State is a franchise in its prime—five straight trips to the NBA Finals and seeking a third consecutive title. But the clock is ticking and the Warriors are well aware of the possible ramifications of free agency and how things could change in a hurry this summer.

“Basketball careers aren’t that long. If you can get 10 out of it, you’re lucky,” Green explained. “To be to five

straight finals, I don’t even know what to say about it.

This is what you play for. This is our goal every year and to get here five straight times is special.”

The Warriors started this run with three All-Stars in Curry, Green and Klay Thompson. They added two more in Kevin Durant and DeMarcus Cousins. How many they’ll have after free agency is any and everyone’s guess.

Curry—with nearly 11-month-old son Canon regularly in his arms for the ride—is certainly relishing this stretch of his decorated career, appreciating how far the Warriors have come during the 10 years he has been in the league.

A third straight title is suddenly within reach, which would be Golden State’s fourth championship in five years.

“We know what’s at stake and what we’re chasing this year, this series, this game, and that’s the only way that you can really put your best foot forward in terms of trying to get back to the mountaintop,” Curry said.

“We’ll have plenty of time when we hang the sneakers up to really go back and think about all the different experiences and highs and lows, but right now, we’re two games away from another finals appearance. It’s pretty special.”

The Warriors are the first team to reach five straight finals since the Celtics advanced to 10 in a row from 1957-1966.

Another championship would cement this run of titles among the best ever.

The Los Angeles Lakers of 2000-2002—led by Kobe Bryant and Shaquille O’Neal—are the last team to

WARRIORS AWARE OF WHAT FUTURE MAY BRING

ORONTO—Kyle Lowry stole the ball and pushed it ahead, then waited for Kawhi Leonard to arrive before feeding his All-Star teammate for a thunderous one-handed slam over Giannis Antetokounmpo.

“The building exploded after that dunk,” Leonard said.

It sure did. Now imagine how it will sound when the National Basketball Association (NBA) Finals come to Toronto for the first time next week.

Leonard had 27 points and 17 rebounds to lead the Raptors into the finals for the first time with a 100-94 victory over the Milwaukee Bucks on Saturday night. His big dunk with 6:46 to go in the fourth quarter was the final basket in a game-changing 26-3 run that began late in the third.

“It was kind of a momentum capper,” Lowry said.

“We were on a run, and why not feed the big dog? Let the big dog eat.”

The Raptors overcame a 15-point deficit to win the series in six games and will host the Golden State Warriors in Game One of the NBA Finals on Thursday night.

Bucks Coach Mike Budenholzer said it hurt to see a great season end.

“The roster that was put together for this season, as the season started going, you started feeling like it was special and could do special things, including advancing past tonight, but it didn’t happen,” Budenholzer said.

Down 76-71 to start the fourth, the Raptors tied it with an 8-2 run while Leonard and Antetokounmpo were both on the bench. Serge Ibaka’s dunk with 10:32 to go tied it at 78.

Antetokounmpo returned after a timeout, but Leonard kept sitting. That didn’t

matter to Toronto, with Siakam’s basket giving the Raptors an 80-78 lead, their first lead since it was 6-3.

Toronto made 12 of 27 three-point attempts, including four of eight in the fourth quarter.

Siakam, who missed a pair of free throws late in the fourth quarter of Toronto’s double-overtime win in Game Three, hit one to make it 98-94. Leonard grabbed the rebound on the second and was fouled.

He made both, putting the Raptors up 100-94 with 3.9 seconds to go.

Malcolm Brogdon and Khris Middleton each made a pair from long range as the Bucks shot six for nine from three-point range in the first and closed the quarter

onday, May 27, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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Antetokounmpo had 21 points and 11 rebounds for the Bucks, but the NBA’s top team in the regular season saw its bid for a first finals berth in 45 years come to a disappointing end with a fourth consecutive defeat.

“Man, obviously when you’re up 2-0, that doesn’t mean nothing,” Antetokounmpo said. “You’ve got to learn how to come out and close out games, especially after Game Three. We’ve got to get better as a team, and we’ve got to get better individually.”

Even Nurse found his team’s turnaround hard to believe.

“Beating this team four times in a row is almost mind boggling,” Nurse said.

LeBron James and the Cleveland Cavaliers derailed them in 2016, but the Warriors bounced back in 2017 with a dominant 16-1 record during the postseason.

Last year, Golden State joined Russell’s Celtics, Michael Jordan’s Chicago Bulls and trio of Lakers teams—including George Mikan and company in the 1950s, Magic Johnson and Kareem Abdul-Jabbar in the ‘80s, and Shaquille O’Neal and Kobe Bryant nearly 20 years ago—as the only franchises in NBA history to capture three championships in four years.

“When I was here the first time, they rebuilt and

Lowry said. “I’ve run into one guy for a while.”

Toronto was eliminated by LeBron James and the Cavaliers in three straight postseasons before shaking things up last summer with the acquisition of Leonard, the 2014 NBA Finals Most Valuable Player who was acquired from San Antonio and has carried the Raptors in this postseason.

“He’s the best player in the league and we’re happy he’s in Toronto,” Raptors President Masai Ujiri said.

Asked about Ujiri’s compliment, Leonard said he’s focused on different goals.

“I just want to win,” he said. “I don’t care about being the best player. I want to be the best team.”

with 10 unanswered points to lead 31-18. Toronto shot six for 19 in the opening quarter, missing six straight twice in the first 12 minutes.

The Bucks extended their lead to 38-23 on a three

by Ersan Ilyasova with 7:46 left until half. Toronto cut the gap to 46-43 on a three by VanVleet with 1:07 left in the second, but Eric Bledsoe answered with a three and Antetokounmpo split a pair at the line, giving the Bucks a 50-43 advantage at the intermission.

The lead went back to 15 in the third before Leonard finished the period with a flourish. He had eight points in the final 2:01 and Toronto closed with a 10-0 run, cutting a 15-point deficit to 76-71.

capture three straight titles.

Golden State advanced without Durant, the reigning two-time finals MVP, and Cousins. Both were sidelined with injuries for the entire Western Conference finals.

The finished off Portland without Andre Iguodala, another finals MVP who sat out Game Four with an injury.

While the Bucks and Raptors are slugging it out in the East, the Warriors are rehabbing.

“I hope it doesn’t go unnoticed or underrated. Five straight finals hasn’t been done since the ’60s, since Bill Russell’s Celtics,” fifth-year Warriors Coach Steve Kerr said. “Hasn’t been done for a reason: It’s really, really difficult. I just can’t say enough about the competitive desire about the group of players that we have here and the culture that they have built together, playing together regardless of injury.”

Each Warriors run has been unique. When they won in 2015 it was the first title for the franchise in 40 years.

STEVE KERR: “I just can’t say enough about the competitive desire about the group of players that we have here.” AP

retooled,” said Andrew Bogut, a member of the 2015 title team before rejoining the Warriors in March.

“They didn’t just sit on their hands thinking it was going to last forever. They freed up cap space, you have to give [General Manager] Bob Myers, [owner] Joe Lacob and the coaching staff a lot of credit. There are a lot of teams that win a championship and kind of reward the whole roster, then they end up two-three years down the track and end up in a bit of a hole. Whereas this is a great run for a franchise that will end up as one of the all-time greats.”

The Warriors enjoy playing together and with so many selfless stars and a deep bench they are rarely out of any game.

That doesn’t mean it has been easy, especially with the constant free agency chatter this season.

Durant is an impending free agent and the basketball world continues to speculate on his next move.

Thompson’s future with the Warriors is unclear as well, while Green is signed through next season.

“We know that these runs don’t last forever, and obviously there are so many questions and things that could possibly happen with this team this summer,” Green said. “So want to try to take advantage of this opportunity and make the most of it, and deal with the things that come after whenever those things arrive, but right now we’re focused on the task at hand and try to do something that hasn’t been done in a long time, or many times.”

The Warriors are aware of the dynasty talk, but aren’t labeling themselves. They have consistently said their focus is the task of raising another banner in the final season at Oracle Arena before the franchise moves into Chase Center in San Francisco to begin 2019-2020.

“I don’t think in those terms. It’s just every opportunity we have to play, these are big moments, big games,” Curry said, “and the context of what this five-year run has been and all that stuff doesn’t really dominate my mind when we’re out there competing.” AP

RAPTORS ADVANCE TO FIRST NBA FINALS

THE Bucks’ Giannis Antetokounmpo blocks a dunk attempt by the Raptors Kawhi Leonard, who holds up the trophy after the team’s 100-94 in Game Six on Saturday. AP

Sports BusinessMirror

Spo

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C2 Monday, May 27, 2019

Na cards 69 for 2-shot lead over Spieth, Furyk

ECUADORIAN TAKES OVER C

OURMAYEUR, Italy—Richard Carapaz of Ecuador won the grueling 14th stage of the Giro d’Italia on Saturday to move into the overall lead.

Carapaz, who rides for Movistar, attacked with just over 25 kilometers remaining of the 131-kilometer route from Saint-Vincent to Courmayeur in the Valle d’Aosta region near the French border.

The 25-year-old Carapaz made his move with 3 kilometers to go on the penultimate climb of the Colle San Carlo and held off other overall contenders to claim his second win of this year’s race and his third overall.

“The truth is that we used a strategy that was well planned by the team,” Carapaz said. “We knew that I and Mikel Landa were in good form, so we had to catch the right moment to attack. I did everything as planned.

“It’s hard to believe that I’m in the Maglia Rosa. It was a dream, and I’ve worked hard for this.”

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ORT WORTH, Texas—If Jordan Spieth thinks a winless streak approaching two years seems like forever, he might want to check with fellow major winner Jim Furyk.

Both have a chance to end droughts at Colonial—if they can overtake third-round leader Kevin Na. Na settled for a one-under 69 a day after going low at Colonial again, taking a two-shot lead at nine under on Saturday over a group that included the local favorite in Spieth and Furyk, the 2003 US Open champion who hasn’t won in four years.

“I’m not really looking at it as like the glass is half empty, the hourglass has almost run out of sand,” said the 49-year-old Furyk, who has just one of his 17 PGA Tour victories in the past nine years but was second at the Players Championship in March. “This year has been kind of a new lease on life.”

Furyk, winless since 2015 at Hilton Head, matched the 68 of Spieth, whose last victory was his third major title at the 2017 British Open.

Joining them at seven under was C.T. Pan, who was tied with Na before bogeys on the final two holes. Pan settled for a 68 as well.

First-round leader Tony Finau (71) fell into the group at seven under with a bogey on 18 after hitting his driver into the water. Defending champion Justin Rose, the highest-ranked player in the field at No. 3, shot his second 74 in three rounds and is five over.

Na recovered from a double bogey at the par-five 11th that cost him the lead, steadying himself over the final seven holes. His 62 in the second round was his third at least that low over a span of six rounds at Colonial.

After hitting driver into a bunker at 11, Na’s second shot caught the lip of the bunker as he turned in frustration because a fan’s cell phone went off during his swing. Caddy Kenny Harms lambasted the woman, and Na said he was upset until he saw the horrified look on her face.

“He was screaming at her, and he has every right to do so,” Na said. “I felt bad for the lady. So I said, ‘C’mon Kenny. Let’s forget about it. Let’s just go.’”

Only problem was, Na couldn’t seem to shake it. His third shot landed in a greenside bunker, and the fourth sailed over the green. A chip shot still didn’t reach the green, before another chip lipped out.

Na made the short putt for a seven before almost making a chip for birdie on 12 after another poor tee shot. His third and final birdie was an 18-footer on the par-three 13th.

“Sometimes it takes a little bit of time to get yourself together after something like that happens and you make a double bogey,” said Na, who finished fourth at last year’s Colonial after tying the course record with a final-round 61. “I think I played pretty solid the rest of the way in.”

Birdies among the leaders were fairly scarce, with most of them playing in windy conditions that have made afternoon rounds difficult all week on the cozy course made famous by Ben Hogan.

Second-round leader Jonas Blixt didn’t have any, opening with a bogey on the easy par-5 first before three more in his 74. He is four shots back.

The best rounds came from players with earlier tee times. Mackenzie Hughes shot 65 to join Spieth, Furyk and company. Charley Hoffman had the day’s best round at sevenunder 63 and was tied at six under with Austin Cook, who shot 65.

Spieth had all three of his birdies on the front nine, barely missing one on the back when his long chip at the par-three 16th lipped out. The 2016 Colonial champ, who was runner-up the years before and after that title, had his only bogey at 17, one of the 10 fairways he missed in 14 tries. AP KEVIN NA grabs lead from the favorites.

Simon Yates recovered after being dropped on that climb to finish second, one minute and 32 seconds behind Carapaz at the end of the stage which featured five climbs and a second successive uphill finish, to the foot of the Monte Bianco Skyway.

Vincenzo Nibali crossed the line in third place, 1:54 behind, with the same time as a number of other overall favorites, including Primoz Roglic.

Carapaz now leads Roglic by seven seconds with Nibali third, 1:47 behind.

Sunday’s 15th stage is mainly flat for the first 160 kilometers but has three categorized climbs in the final part of the 232-kilometer route from Ivrea to Como.

The three-week race ends in Verona on June 2.

Carapaz, who won Stage 4 in Frascati, had flown under the radar the previous day as his teammate Mikel Landa dominated the headlines, but he followed that strong showing at Lago Serrù with a well-executed performance that confirms his

RICHARD CARAPAZ says their team strategy worked to the letter. AP

status as a true contender for the title.

He launched his attack three kilometers from the summit of the Colle San Carlo, the fourth of five categorized climbs on a parcours that packed 4,700 meters of climbing into just 131 km. By that point, the pink jersey was already slipping off the shoulders of Jan Polanc (UAE Team Emirates), who eventually finished 7:41 down.

The obvious successor was Primoz Roglic (JumboVisma), who followed over the top of the Colle San Carlo 35 seconds behind Carapaz in a group with Vincenzo Nibali (Bahrain-Merida), Mikel Landa (Movistar), Miguel Angel Lopez (Astana) and Rafal Majka (BoraHansgrohe). However, despite holding that gap all the way down the technical 16-kilometer descent, their deficit ballooned when the road tilted uphill again and the cooperation drained from the group.

The day after Nibali and Roglic were involved in a tense war of words, things fell apart to such an extent that Simon Yates (Mitchelton-Scott) came back from being dropped

WBA THROWS HAT INTO AIBA-IOC ROW T

HE involvement of professional bodies in the boxing tournament at next year’s Olympic Games appears to have moved a step closer after the World Boxing Association (WBA) revealed a desire to help organize the sport at Tokyo 2020.

In a statement released after the International Boxing Association (Aiba) had been stripped of the right to run the boxing events in the Japanese capital, the WBA said it had “offered all its experience to organize boxing at Tokyo 2020.”

It comes after the International Olympic Committee (IOC) Executive Board decided to suspend Aiba as the Olympic governing body for the sport and established a task force to oversee boxing at the Games following a six-month inquiry.

International Gymnastics Federation President Morinari Watanabe has been appointed to chair the task force, which will also be responsible for devising a qualification system.

Watanabe admitted he was “unprepared” for the role and revealed he had been chosen to lead the body a day before the Executive Board announced its decision.

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OBARA, Japan—President Donald Trump presented a special Trump trophy to the winner of a sumo tournament in Tokyo on Sunday as he got a taste of one of Japan’s most treasured cultural institutions.

The honor given to Trump was part of a charm offensive Japanese Prime Minister Shinzo Abe continued on Sunday as he courted the president with three things close to his heart: wrestling matches, cheeseburgers and golf.

Call it sumo diplomacy.

The president, first lady Melania Trump, Abe and his wife, Akie, joined an estimated 11,500 fans who packed Ryogoku Kokugikan Stadium to watch oversized, muscular men battling in loin cloths.

At the end, Trump stepped into the ring and presented the eagle-topped “President’s Cup” to champion wrestler Asanoyama, making him the first American president to participate. Shoes aren’t permitted in the sumo ring, but Trump wore dark-colored slippers.

“That was something to see these great athletes,” Trump said before dinner at a Hibachi restaurant.

Trump’s four-day state visit to Japan is designed to demonstrate the strength of the

FORMER world heavyweight champion Wladimir Klitschko claimed the WBA should replace Aiba as the body responsible for organizing boxing at the Olympics. AP

IOC President Thomas Bach said the task force could make contact with professional organizations, a claim which the Japanese official refused to rule out.

The statement from the WBA, the first professional body to declare its intention to be involved in the running of the Olympic boxing

competition at Tokyo 2020, does not come as a surprise.

In November, former world heavyweight champion Wladimir Klitschko claimed the WBA should replace Aiba as the body responsible for organizing boxing at the Olympics.

It followed the WBA, founded in 1921, calling on the IOC to recognize it to be “part of the Olympic Movement to help athletes work for their dreams.”

The WBA also claims it was the “was the first organization to reach out to Aiba, before the controversy broke out, to advise them regarding professional boxing and to cooperate for the inclusion of professional athletes in amateur boxing.”

The WBA’s declaration came when boxing’s place on the Tokyo 2020 program was plunged into doubt by the election of Gafur Rakhimov, described as “one of Uzbekistan’s leading criminals” by the United States Treasury Department, as Aiba president.

The IOC consistently claimed that there would be a boxing event at next year’s Games with or without the involvement of the embattled worldwide governing body.

Now Aiba has been suspended—a decision taken after the IOC 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—attention has turned to who will help organize the tournament.

Uncertainty remains for boxers, however, as exact weight categories for the men’s and women’s events have not yet been confirmed.

There will be a reduction in men’s categories from 10 at Rio 2016 to eight at Tokyo 2020, which will allow for the rise from three women’s divisions to five.

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.

The decision from the Executive Board has to be ratified by the IOC Session in Lausanne next month but this is expected to be a formality.

Aiba has 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. Insidethegames

Trump awards trophy at sumo event in Tokyo bond between the nations. The president received a warm welcome as he arrived at Mobara Country Club, south of Tokyo, for a steamy morning round of golf with the Japanese leader. It was their fifth golf outing.

Abe is pulling out all the stops as he seeks to placate Trump amid growing US-Japan trade tensions and the threat of auto tariffs.

Japan is also contending with the continued threat of North Korea and Trump’s apparent dismissal of Pyongyang’s recent tests of shortrange missiles that could reach Japan.

But minus several antagonistic tweets, Sunday was all about bromance and keeping Trump happy.

First it was the golf course, where Trump and Abe played 16 holes, joined by Japanese professional golfer Isao Aoki. Aoki, who is famous for his putting technique, was expected to present Trump with a putter he designed.

On the lunch menu: Double cheeseburgers made with US beef.

Next, Abe introduced Trump to Japan’s ancient sport of sumo wrestling—something Trump has said he said he finds “fascinating.”

The president was welcomed to the stadium with loud applause and sat ringside at the match in a low-back, breaking the custom of sitting cross-legged on a mat. Once it was done, Trump climbed on stage to present his cup to wrestler Asanoyama, who clinched the tournament win on Saturday.

Trump read from a scroll, praising Asanoyama’s “outstanding achievement” and then hoisted the hefty cup, which the White House said stands 54 inches (137 centimeters)

PRESIDENT Donald J. Trump presents the “President’s Cup” to the Tokyo Grand Sumo Tournament winner Asanoyama. AP

tall and weighs 60 to 70 pounds (27kilograms to 32 kg), into Asanoyama’s arms with the help of an official.

Asanoyama was presented with a trophy

by Abe and an emperor’s trophy, as well.

The president’s attendance at the annual summer sumo tournament in Tokyo might have recalled memories of time he spent promoting the World Wrestling Federation. Trump sponsored major events, appeared in bits and was inducted into the World Wrestling Entertainment Hall of Fame in 2013.

On Monday, Trump will receive another

honor when he becomes the first foreign leader to meet with Japan’s new emperor, Naruhito, since he ascended to the throne on May 1. Trump and Abe will also meet in a more formal setting and participate in a joint news conference. In the evening, Trump will be guest of honor at a banquet hosted by the emperor at Japan’s Imperial Palace. AP

on San Carlo to ride away to second place on the stage. He crossed the line 1:32 down on Carapaz, with Nibali taking third place from the rest of the group at 1:54.

Carapaz had started the day sixth overall, 1:57 down on Roglic, and took the overall lead by virtue of the 10 bonus seconds he picked up for the stage win.

In the overall standings, he now leads Roglic by seven seconds, with Nibali in third at 1:47. The Italian, whose teammate Damiano Caruso did a huge amount of work on the two final climbs, will be frustrated, despite gaining four seconds on Roglic, at another dangerous Movistar rider gaining so much time.

Stage 13 winner Ilnur Zakarin (Katusha-Alpecin) plummeted out of the top 10, finishing more than seven minutes down just 24 hours after he’d come roaring back into the equation at Lago Serru. Similarly, Bauke Mollema, who’d jumped to fourth yesterday, dropped back to sixth after being dropped on San Carlo and finishing 4:03 down on Carapaz. AP

Federer returns to Paris for first time since 2015

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ARIS—Roger Federer is in action on the opening day of the French Open.

Returning to play at Roland Garros for the first time since 2015, Federer opens against 73rdranked Lorenzo Sonego in the third match on Court Philippe Chatrier.

Also on Sunday, 2016 champion Garbine Muguruza faces 96th-ranked American Taylor Townsend in the first match at the tournament’s newest stadium, Court Simonne Mathieu.

Sixth-seeded Stefanos Tsitsipas, who beat Federer at the Australian Open, plays Maximilian Marterer.

Others in action include seventh-seeded Kei Nishikori; last year’s semifinalist Marc Cecchinato; last week’s Italian Open champion Karolina Pliskova, Venus Williams and Sloane Stephens.

The French Open is the only one of the four Grand Slam tournaments to begin on a Sunday.

Alexander Zverev saved two match points after waiting out two long rain delays to win his first title this season, beating Nicolas Jarry, 6-3, 3-6, 7-6 (8), in the Geneva Open final on Saturday.

Fifth-ranked Zverev clinched when Jarry sent a forehand long after more than two-and-a-half hours on court and almost six hours after play began.

It was the German’s 11th career title, worth €90,000 ($101,000) in prize money, and first since November at the season-ending Association of Tennis Professionals Finals in London.

Zverev struggled through a second set interrupted by two rain delays of at least an hour before 75thranked Jarry levelled.

The Chilean has lost both finals he reached on tour.

His next opponent, at the French Open that begins on Sunday, is eighth-seeded Juan Martin del Potro.

Ukrainian teenager Dayana Yastremska, meanwhile, beat Caroline Garcia, 6-4, 5-7, 7-6 (3), to win the Internationaux de Strasbourg on Saturday in the longest final of the Women’s Tennis Association season.

Yastremska wasted two match points in the second set and saved one in the third before closing out the encounter in two hours and 58 minutes in Strasbourg, France.

It’s the third title in eight months for the 19-yearold Yastremska, who also won in Hong Kong and Thailand, and the first of her career on clay. AP

FEDERER

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Monday, May 27, 2019

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HE rider with the all-around skill would most likely dominate the five-stage 10th edition of the Le Tour de Filipinas that hits the road from June 14 to 18.

National Team Coaches Reinhardt Gorrantes and Ednalyn Hualda believe this year’s Le Tour de Filipinas would not only favor the sprinters and the climbers but the cyclists who are strong in both terrains.

“There are mountain passes in the race but let us not forget the middle stages which are almost all flat with a slightly reclining

Sports scribes honor Ravena

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TENEO’S Thirdy Ravena will be named the Collegiate Player of the Year in the 2019 Collegiate Press Corps Awards Night on Monday at the Amelie Hotel in Ermita, Manila.

Ravena was remarkable in leading Ateneo de Manila to a second-straight UAAP title and by clinching the top individual plum given by reporters covering the collegiate basketball beat.

Ravena joined the likes of his brother Kiefer, Mac Belo, Jeron Teng, Robert Bolick and Ben Mbala on the list of recepients of the coveted award.

The second-generation star put up a finals series to remember, averaging 29.5 points, eight rebounds and 7.5 assists as the Blue Eagles waylaid the University of the Philippines Fighting Maroons.

Ravena will also be joined by San Beda’s Robert Bolick, Perpetual Help’s Prince Eze and University of the Philippines’s Bright Akhuetie and Paul Desiderio in this year’s All-Collegiate team.

Ravena’s coach, Tab Baldwin, will also be named as the UAAP Coach of the Year, while San Beda’s Boyet Fernandez will hoist the NCAA Coach of the Year trophy for the fifth time.

The press corps will also award the Volleyball Players of the Year trophies to the standout performers in the UAAP and the NCAA. University of Santo Tomas’s Sisi Rondina will get the distinction as the first UAAP Volleyball Player of the Year for willing the Golden Tigresses to the Finals. Arellano University’s Regine Arocha, on the other hand, will be named the NCAA Volleyball Player of the Year after winning back the trophy for the Lady Chiefs.

COACHES EXPECT TACTICAL RACE gradient,” said Gorrantes, head coach of the Philippine National Team composed of the riders from Philippine Navy-Standard Insurance.

Hualda agreed, saying Stage 1 and Stage 5 offer challenges for the climbers, but with the long Stage 1, 2 and 3, tactical riding is a must in the race organized by Ube Media Inc. and which

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HAILAND’S Wisut Artjanawat scored big for Philippine Golf Tour Asia (PGTA), rallying from six down and snatching a two-stroke victory with a blistering windup for a 67 as he beat local veteran Sung Mao Chang by two for the Taiwan Professional Golfers Association (TPGA) Open crown at the CCK Golf Club in Taichung, Taiwan, on Sunday.

Artjanawat, 37, pounced on Sung’s frontside meltdown to move within three despite a 36 then scorched the backside with a brilliant 31, spiked by three straight birdies from No. 12, as he emerged the bewildered winner in the event that faced uncertainties following a rain-marred first round.

But the Thai veteran campaigner delivered the biggest surprise with his

sizzling finish, securing the victory with a birdie from close range on the 16th, giving him a two-shot cushion he preserved with two clutch closing pars for a second five-under card and a 14-under 274 total.

“I didn’t expect to win. Six shots were too big a deficit to overcome. But I worked my way back and hit birdies at the back,” said Artjanawat, whose stirring come-from-behind win worth $17,500 ended a five-year title spell in various regional circuits, including the Philippine-based PGTA sponsored by the International Container Terminal Services Inc. Jay Bayron, meanwhile, finished with a flourish, birdying two of the last three holes to card a 70 as he ended up tied at 27th at 286.

“It was a good experience. The greens here were very unpredictable, but I knew I could’ve finished better,” said Bayron, the lone Filipino entry in the event co-organized by Pilipinas Golf Tournaments Inc. and backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High. “I just

and demanding 129.50-km Stage 1 on an outand-back course in Tagaytay City, followed by the 194.90-km Stage Two on June 15 from Pagbilao in Quezon to Daet in Camarines, Norte.

Stage Three on June 16 will be 183.70 kms from Daet to Legazpi City, and Stage Four will cover 176.00 km from Legazpi City via Sorsogon

hope more Filipinos would compete overseas in the future. Playing against a different of rivals on unfamiliar courses will only make us better.”

Artjanawat also relished the chance to compete and be able to snap a long title drought.

“It’s a big confidence boost. Now I feel I can fight on the top level against the best in the region,” added Artjanawat, who placed 22nd in last year’s PGT Asia Order of Merit ranking and groped for joint 29th in the PGTA first leg at Luisita last month.

His victory also augured well for the region’s emerging circuit, which held its first tournament abroad after three years with one of its mainstays emerging as the winner. Artjanawat also became the first foreigner to win in the 85-year TPGA at the quaint military layout affiliated to Taiwan’s Air Force, frustrating a number of locals who had braced for a romp by Sung after surging to a whopping five-shot lead over compatriot Hung Chien Yao after 54 holes.

But Sung failed to recover from a 39 start and failed to match Artjanawat’s blistering finish

to settle for a 36 and a 75 for 276.

“I made a lot of bad shots, hit a lot of trees,” rued Sung.

As Sung floundered, Hugn took over the lead in one stretch, but like his compatriot, he lost in the face of Artjanawat’s superb backside game he sparked with a 10-foot birdie on No. 10. But it was not until he racked up that three-birdie binge that he found himself on top of the heap then buried another three-foot birdie putt on the 16th to all but wrap up the championship.

Hung also closed out with a 36 and dropped to third at 277 after a 71 while another Thai, Donlapatchai Niyomchon, shot a 69 for fourth at 278 followed by Wang Tsung Chieh and Thai, Sae Ueng Nirun, who carded identical 69s to share fifth place at 279.

Luisita leg winner Namchok Tantipokhakul fired a 68 and fellow Thai Polthai Tawit matched par 72 as they shared seventh place with Taiwanese Huang Chi, who shot a 70, at 280 as five PGT Asia bets finished in the Top 10.

Maroons, Falcons face separate foes A

FTER earning tough wins in their last outings, University of the Philippines (UP) and Adamson University look to continue their win streak against different foes on Monday in the Filoil Flying V Preseason Cup at the Filoil Flying V Centre in San Juan.

UP, sporting a 3-2 record, battles a dangerous Mapua (1-4) at 2:30 p.m., while Adamson University (3-1) faces off with Jose

Rizal University (1-3) at 4:15 p.m.

The Fighting Maroons got big points from point guard Jun Manzo, forward James Spencer and center Bright Akhuetie last Saturday when they defeated the Centro Escolar University (CEU) Scorpions, 68-62.

Adamson University impressively dispatched Letran, 89-85, to tie Lyceum of the Philippines University in second place of Group B behind Letran, which absorbed its second

loss in six matches.

The Lyceum (3-1), derailed in their last game, will battle a much-improved Emilio Aguinaldo College side at 5:45 p.m.

The Lyceum juniors team, also toting a 3-1 record, is looking to also get back on the winning track after the Junior Pirates fell to the San Beda Red Cubs in their last game.

They take on De La Salle Zobel that is making a

belated tournament debut at 12:45 p.m.

In the other juniors game, Far Eastern University (1-2) will have its hands full against a loaded National University at 11 a.m.

In 11-under action, Marist battles San Sebastian at 8 a.m., Colegio de San Benildo challenges Claret at 9 a.m. and La Salle Greenhills crosses paths with Don Bosco at 10 a.m. Rick Olivares

Steffen, Duke in harness for Ironman showdown S

SWISS Caroline Steffen and Aussie Dimity Lee Duke set out for another clash of power and endurance.

P

RAVENA

is celebrating its 10th anniversary.

“It would be a race of strategies,” Hualda said. “Like a chess game, you have to ponder your moves to win.”

The entire race covers 822.20 kilometers of paved road down south of Manila.

The Le Tour kicks off on June 14 with a short

THAI WISUT TOPS TAIWAN GOLFEST

THAILAND’S Wisut Artjanawat rallies from six down and snatches a two-stroke victory.

ACIFICTOWN Army survived a third-set meltdown to turn back Bali Pure, 25-20, 25-16, 24-26, 25-23, on Sunday to set in motion its title campaign in Season Three of the Premier Volleyball League Reinforced Conference at the Flying V Centre in San Juan City.

Imports Janelle Jordan and Olelna Lymareva-Flink alternated in delivering the blows and finished with 15 points each as the Lady Troopers did well in their return to the league after once reigning supreme in the Shakey’s V-League, the predecessor to the PVL, more than a decade ago.

Former two-time Most Valuable Player Jovelyn Gonzaga showed she is way past the knee injury that shelved her for two years and

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WISS Caroline Steffen and Aussie Dimity Lee Duke set out for another clash of power and endurance tipped to go down to the wire as they banner the elite cast in the Century Tuna Ironman 70.3 Subic Bay presented by Big Boss Cement, which gets going on Sunday.

The veteran campaigners are seeking to snap a spell in local endurance racing with Steffen out to improve her runner-up finish to Czech Radka Kahlefeldt in the recent second Alveo Davao where Duke struggled to finish fourth.

But both are coming into the 1.9-km swim, 90-km bike and 21-km run event brimming with confidence, so do New Zealand’s Laura Wood, Manami Iijima of Guam and Lisa Tyack, another star from Down Under, guaranteeing a fierce showdown for top honors and the top $3,000 purse in the centerpiece women’s pro division.

“I’m excited to return to Subic for the fourth time,” said Steffen, who is also using the event organized by Sunrise Events Inc. as part of her buildup for the World Chanmpionships.

“I’m still building up my fitness toward the World Championships in October, and the CT Ironman 70.3 will be a great test in the heat to see where I am at,” she added.

Duke, on the other hand, hopes to flash her familiarity with the course where she also reigned in a 5150 event while placing second to compatriot Liz Blatchford in the

Army volleybelles in hot start chipped in eight hits.

It helped Pacifictown that Bali Pure played minus one of its two imports—Danjiela Dzaovic.

Dzaovic was in uniform but decided to sit the game in the last minute after her ITC— International Transfer Certificate—wasn’t processed in time before the match.

The other reinforcement, Alexandra Vajdova, did her best to put on a fight and carry the Angels on her shoulders but her match-high 20 points weren’t enough to offset the powerspiking tandem of Jordan and Lymareva-Flink.

“Of course, it wouldn’t finish the way it did in

this game if they have two imports who played,” Pacifictown Coach Kungfu Reyes said.

Honey Royse Tubino also contributed nine points to the winners.

The Lady Troopers will go for the solo lead when they tackle the Creamline Cool Smashers, the defending Reinforced and Open Conference titleholders, on Wednesday.

ARMY’S Mary Jean Balse-Pabayo challenges Bali Pure’s Satrriani Espiritu at the net. NONOY LACZA

first Philippine full triathlon last year.

“Ironman racing is a lot different racing over the 70.3 distance, and each year the competition is always getting better and better,” said Duke.

“But I am fortunate to have raced this course over a number of years so I hope this will put me in a good position come race day.

Focus will also be in the men’s side with Nick Baldwin of Seychelles eyeing another win in the country’s triathlon capital following his triumph

and Gubat and back to the Albay capital.

Stage Five will also be out-and-back in Legazpi City, but this time it will be via Donsol in Sorsogon for a total of 145.80 km—a crucial final leg where the cyclists will have to endure pedaling over rolling hills and strong winds.

Para games get going in Bulacan

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ARALYMPIC table tennis bronze medalist Josephine Medina and Singapore World Para Swimming Series silver medalist Ernie Gawilan lead the field seeing action in the 7th Philippine National Para Games which opens on Monday at the Bulacan Sports Complex.

More than a thousand para athletes from 72 local government units are competing in the four-day competition in archery, para athletics, para swimming, chess, judo, table tennis, boccia, para powerlifting, goalball, sitting volleyball, badminton, tenpin bowling and wheelchair basketball. Cycling is a demonstration sport.

In the opening ceremonies on Sunday, Philippine Sports Commission Chairman William Ramirez inspired the para athletes to go beyond their dreams and use sports as an instrument of change.

“It is always a special moment for me to see our para athletes flourish in the sport that they love and discover the golden gift in them,” Ramirez said.

Ramirez graced the opening together with PSC Commissioner Arnold Agustin and Philippine Paralympic Committee President Mike Barredo.

Bulacan Governor Wilhelmino Sy-Alvarado thanked the PPC and PSC for choosing the province as host of the national games.

“The province of Bulacan is grateful to the PPC and PSC for giving us the opportunity to host this sporting event for our para athletes,” he said. “Throughout the games, we would like to show everyone that our venues are completely differently abled-friendly.”

Games start simultaneously at the Bulacan Sports Complex (archery, para athletics and para swimming), Hiyas Convention (chess, judo, table tennis and boccia), Bulacan Capitol Gym (goalball and sitting volleyball), City Walk Badminton Court (Badminton), Paradise Bowling Center (tenpin bowling) and at Guiguinto Municipal Athletic and Cultural Center (wheelchair basketball). in the first full Ironman against a talent-laden field headed by former 70.3 world champion Tim Reed and multi-titled Sam Betten along with fellow Australians Tim Van Berkel and Conor McKay with Colombia’s Rodrigo Acevedo and Oli Stenning of Great Britain.

Close to a thousand triathletes will also battle it out for top honors in various divisions, including the Asian Elite and the 12 age group categories. It also features relay competitions for male, female and mixed teams.

Forty-one countries are represented in what promises to be another challenging race on a practically new course with the race central now at Subic Bay Boardwalk.

HAMILTON: POLE FOR NIKI LAUDA

Sports

By Jerome Pugmire

M

The Associated Press

ONACO—Exhilarated at the Monaco Grand Prix after clinching a recordextending 85th pole position in fine style, Lewis Hamilton was also quick to dedicate his latest success to friend and mentor Niki Lauda.

Hamilton beat Mercedes teammate Valtteri Bottas on the last lap of qualifying on Saturday and he will aim for his 77th career win in Formula One (F1) on Sunday, which will feature more tributes to Lauda.

Lauda, who died on Monday, played a key role in getting Hamilton to join Mercedes in 2013 after he left McLaren.

“All these years, he has been my partner in crime, in all my negotiations and in pushing for improvements on the car. He was such a racer,” Hamilton said. “I have great memories and he’ll live on in all our memories.”

Lauda’s phone call to Hamilton in late 2012, when Hamilton sat by his swimming pool at home in Monaco, proved both decisive and fruitful. Since joining Mercedes, the British driver has won four world titles to add to his first with McLaren in 2008.

“He was part of the process of changing my life. If I hadn’t had that call, I’d be a one-time world champion and [now] I sit here a five-time world champion,” Hamilton said. “I definitely feel like I owe him a lot.”

Lauda, a three-time F1 champion, died at the age of 70 less than one year after a lung transplant.

“I was in touch with Niki a lot through these past eight months. We were sending videos back and forth to each other,” Hamilton said, pausing to collect his thoughts. “It was always difficult as some days he looked good, he was perky and saying ‘I’m coming back, I’m feeling strong,’ and other days, he had lost a lot of weight.

It was tough.”

There will be a special ceremony held in Lauda’s honor in Monaco.

Bottas, who wore a black armband on his left sleeve in memory of Lauda, thought he should have beaten Hamilton after clinching pole in the past three races.

“I’m really disappointed, I had the speed today,” Bottas said.

Max Verstappen underlined his consistent season by qualifying in third place for Red Bull, ahead of Ferrari’s Sebastian Vettel.

The mood in the Ferrari camp is likely to be despondent.

After Vettel’s crash earlier in the third and final practice, the team made a glaring strategical error which resulted in teammate Charles Leclerc being eliminated from the first section of qualifying.

Leclerc hoped to be on the front row but instead starts his home race in a lowly 16th place on a street circuit where overtaking is notoriously difficult.

Ferrari is clearly feeling the pressure with Mercedes finishing 1-2 in all five races this season.

Vettel’s last of four F1 titles was in 2013 with Red Bull and this season he is under pressure from within the team.

The 21-year-old Leclerc, who took a brilliant pole in Bahrain, had been fastest in the third practice and he was angry with his team’s error.

BusinessMirror

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| Monday, May 27, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LEWIS HAMILTON: Niki Lauda is part of the process of changing my life. AP

“We can’t afford to do these things. It’s just a big, big disappointment,” Leclerc said. “I need some explanations.”

Qualifying is split into three sections, with five drivers eliminated from Q1 and Q2 to leave 10 contesting pole.

Leclerc was kept in the garage toward the end of Q1, with his team thinking he’d already done enough. But it backfired as he failed to even make Q2.

“These are errors we absolutely should not be making,

to be eliminated in Q1 in Monaco is the worst thing that can happen,” Leclerc said. “We should have gone out again, we had put in a lot of fuel to do several laps...I didn’t understand why we weren’t going out again.”

Earlier Saturday, Vettel struggled with his composure again.

Despite enjoying idyllic racing conditions under blue skies and a dry track, Vettel locked the inside left wheel

and went straight into the exit barriers at Saint Devote.

Vettel has not won any of the past 13 races, dating to last August at the Belgian GP. His vulnerability under pressure was evident the last two seasons, when he made key mistakes in losing the title race to Hamilton.

Leclerc had a near miss with the Haas car of Kevin Magnussen moments after Vettel’s crash.

Then it got worse for Leclerc, through no fault of his own.

Guthrie is barrier-breaking career celebrated in film I

JANET GUTHRIE is all smiles as her pit crew swarms around her following the 62nd running of the Indianapolis 500 in May 1978. AP

NDIANAPOLIS—Janet Guthrie did not receive a warm reception when she arrived at Indianapolis Motor Speedway 43 years ago. The former aerospace engineer had become a race car driver—unheard of during her era—and Guthrie wanted a spot in the Indianapolis 500, the biggest race in the world.

Her competitors wanted nothing to do with her and openly complained a woman was not suited for “The Greatest Spectacle in Racing.”

Guthrie was undeterred.

“As far as the men saying I couldn’t get it done, I figured they would learn better,” Guthrie told The Associated Press this week. “Did it bother me? Mostly I could laugh at it.”

Guthrie’s fight to become the first woman to qualify and race in the Indianapolis 500 is chronicled in the ESPN documentary Qualified scheduled to air May 28 as part of the 30 for 30 series. The film, directed by Jenna Ricker and premiered earlier this year at the South by Southwest Film Festival, airs two days after the Indianapolis 500.

Ricker, an ardent Indianapolis 500 fan, said she was compelled to tell Guthrie’s story because she knew so little about the pioneer.

“I was a fan of the Indianapolis 500 and I hadn’t heard of her and it ticked me off,” Ricker told AP. “I thought people should know this story, the first woman to qualify at the Indianapolis 500, then obviously the Daytona 500. Once I went down the Janet Guthrie rabbit hole, it was amazing to me—this was a story that needed to be told.”

Ricker discovered a goldmine of local television coverage, network broadcasts and rarely seen promotional films, plus home movies and Guthrie’s private photo and film collections. The material allowed her to create a film comprised almost entirely of archival material.

Guthrie first tried to make the Indy 500 in 1976 driving for Rolla Vollstedt, who wanted Guthrie even though she’d never raced an Indy car. Drivers were livid and Usac forced the 38-year-old to enter a race at Trenton to evaluate her readiness. It was an extremely difficult test for Guthrie

because her male competitors raced her harder than necessary, and Guthrie had no room for error if she wanted to be approved for Indy.

She earned the right to qualify, but Vollstedt’s car wasn’t competitive and Guthrie had yet to impress anyone during her long, slow days battling the handling on her slow machine. A.J. Foyt graciously allowed Guthrie to turn some laps in one of his backup cars. Once inside the cockpit of something manageable, Guthrie was quickly up to speed.

Foyt didn’t offer her a chance to qualify one of his cars in the race and Guthrie didn’t make the field. Charlotte Motor Speedway promoter Humpy Wheeler saw all the attention Guthrie was receiving in Indianapolis and once she missed the race, he put a deal together to get Guthrie in the Coca-Cola 600 the same day as the Indy 500. It was Guthrie’s Nascar debut after a month spent driving an Indy car and she finished 15th in her first race in a stock car.

Guthrie’s mind was still in Indy, though.

“Getting into A.J. Foyt’s backup car, are you kidding me? A car that’s worth about 100 or 1000 times more than everything I owned of value in the whole world?” Guthrie told AP. “That was big time. And when the yellow light came out and qualifying was about to begin and A.J. asked me whether I could go faster, I mean, I had done it once at trim, a one-lap qualifying deal, so he says can you go faster? And I said yes. I didn’t say, ‘I think so,’ I said yes because I knew I could.

“And then of course he decided not to let me qualify, and his crew was against it. So I had to wait a year. But what A.J. did, he changed a number of people’s opinions about what a woman might be capable of doing.”

Guthrie made it back to Indy in 1977, again with Vollstedt, qualified and became the first woman ever to race in the Indy 500. Her presence forced track owner Tony Hulman to change the “Gentleman Start Your Engines” command, something he was forced into by another pioneering woman.

Hulman had confided that because mechanics actually start the engines, the call didn’t need to be changed. So Kay

MOTORSPORTS BIG DAY

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NE of the busiest days in motorsports will get under way on the French Riviera.

Formula One (F1) kicks it all off with the Monaco Grand Prix on Sunday, when the dominant Mercedes team will look for a sixth straight win this season.

The Silver Arrows are well placed to do so with defending F1 champion Lewis Hamilton on pole position and teammate Valtteri Bottas second on the grid.

Ferrari is struggling—again—with Sebastian Vettel starting from fourth and Charles Leclerc down in 16th after a baffling strategical team error during qualifying.

Simon Pagenaud starts from the pole for the Indianapolis 500 in a car owned by Roger Penske, who is celebrating the 50th anniversary of his first race at Indy.

Penske has won the 500 a record 17 times, and has defending race winner Will Power in his stable.

The field is the tightest in Indy 500 history based on qualifying speeds from first to 33rd.

William Byron starts up front at the Coca-Cola 600 after becoming, at 21 years old, the youngest driver to capture the pole for Nascar’s longest race.

Aric Almirola will start second with defending race champion Kyle Busch in third. AP Bignotti, who had a Usac mechanic’s license, said she would start Guthrie’s car.

The command these days is “Drivers, start your engines.”

Guthrie’s debut in the Indy 500 was a bust—her engine failed 27 laps into the race and she never had a chance. But she returned again in 1978 and proved her worth once and for all.

She fielded her own car, qualified 15th and finished ninth.

In all, Guthrie ran at Indy three times and 11 total races in an Indy car. She ran 33 Nascar races, including two Daytona 500s and squarely blames a lack of sponsorship opportunities in stalling her career just as she was a capable race car driver.

Earlier this year, Guthrie was dropped from the list of five nominees for the “Landmark Award” for achievement in Nascar in its Hall of Fame after three times on the ballot.

“You know, the Landmark Award is just a consolation prize for not having a Hall of Fame career, and I never had the sponsorship to give me that chance,” Guthrie told AP. She and Ricker believe sponsorship woes are the sole reason Pippa Mann is the only woman in the Indy 500 on Sunday, while the Coca-Cola 600 in Charlotte, North Carolina, that night doesn’t have a single female driver in the field. AP

D

Saving word

EAR God, Your saving word resounds through all the Earth in the resurrection of Jesus. In joy and mercy we pray: Make us Your instruments of peace, oh God. Help us to counteract hatred and indifference with love. Still the cries for war and vengeance. Prosper dialogue and negotiations to end conflicts between nations. May God give us the grace to accept what we cannot change and to participate in our own growth and transformation through Jesus, the wisdom of God. 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

AND THEN SOME: LORNA T IS ALWAYS A PERFECT 10 D4

Monday, May 27, 2019

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Barge Ramos, Albert Andrada dazzle at New York Fashion Week Bridal 2019 RUNWAY PHOTOGRAPHY: TROI SANTOS ACCESSORIES: JEROME NAVARRO

collaboration this year with two of the country’s most respected and internationally recognized fashion designers, Albert Andrada and Barge Ramos,” Daguno-Canoy said in a prepared statement. Fabulous Philippines is a tourism and lifestyle event focusing on the development, marketing and promotion of the country as a perfect wedding destination with emphasis on responsible and sustainable tourism.

“This is a celebration of Filipino creativity while making a difference as proceeds of the project benefit the EduCare for Life International Foundation, which provides college scholarships, as well as medical assistance, disaster response and relief operations in times of calamities,” Daguno-Canoy added.

“This was made possible with the help of Philippine Airlines, Tanduay, YHMD International Manpower Services, Philippine Amusement and Gaming Corp., The Filipino Channel, New World Makati Hotel and MetroStyle.”

Andrada, designer to royalty when he was based in Dubai, showed his incandescent “Inamorata” bridal collection, inspired by the Spanish señorita. For his

TOTA PULCHRA MISS CHARLIZE

@misscharlize

F

OR the first time in the international fashion calendar, two Philippine-based designers participated at the ultra-exclusive New York Fashion Week Bridal shows.

Dr. Christine May Daguno-Canoy, president and CEO of NeoColors Productions and Advertising International Inc., tapped barong Tagalog-maker extraordinaire Barge Ramos and luxury designer Albert Andrada to present their 2019 collections at the Landmark on the Park at Central Park West.

“NeoColors takes pride in organizing Fabulous Philippines: A Perfect Wedding Destination—our biggest

ALBERT ANDRADA

Continued on d2

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Style

BusinessMirror

Monday, May 27, 2019

www.businessmirror.com.ph

Barge Ramos, Albert Andrada dazzle at New York Fashion Week Bridal 2019

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Continued from D1 BARGE RAMOS

FROM left: Albert Andrada, Joey Espino Jr. And Barge Ramos

sparkling, shimmering, splendid suite, he used mesh, silk gazar, illusion tulle and chantilly lace for his romantically classic couture creations. The grooms wore classic tuxedos paired with white lace inner shirts. Andrada has always been fascinated with the Spanish period in Philippine history, when upperclass Filipino women dressed in European fashion, blending traditional silhouettes with foreign details and imported accessories.

“These are the women characters I remember in the novels of Jose Rizal. For my 2019 collection for Fabulous Philippines, I came up with my own interpretation of modern-day gowns and dresses, informed by the Spanish influences on the Filipino mode of formal dressing. These are my visions of the contemporary Filipina on the most memorable day of her life,” said Andrada.

For his part, Ramos was inspired by New York’s seat of Catholicism, Saint Patrick’s Cathedral, for his transcendent “Perfume and Incense” collection. It is a mix of handwoven fabrics, indigenous embroidery, handpainting, religious medals and escapularios.

“It’s a concept that has been gestating in my mind for some time, and it became a reality in New York.

Saint Patrick’s Cathedral has always been my idea of New York,” Ramos revealed. “It was the very first place I visited on my very first trip there. Amid all the changing fashion, art installations, museums and restaurants, a constant solid ground for me has always been Saint Patrick’s.”

Joey Espino Jr., longtime New York resident and founder with his brother Audie of Philippine Fashion Week, directed Fabulous Philippines. How was it like working with Barge and Albert in New York? I asked him over late-night dinner with the trio, my fashion fairy godmothers.

“It was very surprising. When we were in Manila, we talked about how we would put up the show.

Everyone was sure about their chosen responsibilities and things that they had to deliver. I made them understand what New York was all about and what was the expectation of the crowd. The reason why it was surprising is, when we were there, they barely spoke a word. Meaning to say, they could see it with their own eyes that what they wanted was right before them. They were sure of themselves and they focused on what they were supposed to deliver,” Espino said of the designers’ confidence. Having been exposed to the world-class clothing that New York is known for, Espino was nonetheless impressed with the quality of his designers’ collections.

“I heard very good comments from the crowd,

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Chris Colfer, 26; Jack McBrayer, 43; Paul Bettany, 45; Louis Gossett Jr., 80.

HAPPY BIRTHDAY: You’ve got plenty of options and will find that people are interested in what and how you do things. Your passionate approach to life, work and relationships will be enlightening and help you decipher which way to move forward and with whom. Question anyone who is asking for or offering too much. Balance will be the key to your success. Your lucky numbers are 3, 10, 21, 26, 35, 37, 44.

a

ARIES (March 21-April 19): Your innovative ideas and efforts will help you bring about important changes in your personal and financial life. Network, negotiate and celebrate.

Romance will give you a boost and improve your personal life. HHHH

b

TAURUS (April 20-May 20): Listen and learn. Keep your emotions under control and observe how others live. A different philosophy will have something to offer that will improve your way of life. Open-mindedness will help you see the light. HH

c

GEMINI (May 21-June 20): It’s time to turn up the volume and make things happen. Personal improvements will lead to healthier relationships with the people you enjoy being with the most. Be yourself and offer others consistency, compassion and resourcefulness. Love is in the stars. HHHHH

d

CANCER (June 21-July 22): Take a timeout to reflect on the past and to find exciting ways to plan for the future. An imaginative approach to the way you help others and offer your services will encourage a solid partnership. HHH

e

LEO (July 23-Aug. 22): You’ve got the moves that will capture attention and guarantee support. It’s what you do that will make a difference, so save your words and take action.

Love is on the rise, and a passionate suggestion will bring you closer to someone special. HHH

f

VIRGO (Aug. 23-Sept. 22): You’ll have to make choices based on realistic suggestions. Don’t let a pie-in-the-sky idea take you on a wild goose chase. A solid plan will allow you to reach a desirable target. HHH

basically very positive. They were caught by surprise because it’s the first time that Filipino designers were presenting Filipino clothes made by Filipinos but worn by a majority of non-Filipino models. The clothes looked very good,” Espino enthused.

What would it take for a Filipino fashion designer to show successfully in New York?

“He must have the right point of view, his collection must be very strong, he must be sure of himself, he must know what he wants to tell the rest of the world. Because doing a show in New York, you’re in the No, 1 location in the world. Everybody looks at New York, and I’m happy that Filipino designers

were given the chance to present themselves properly, knowing who they are and what Filipino designers are all about,” Espino advised.

“Filipino designers can create something out of nothing, that’s how you know how real talent will shine, the resourcefulness. With Barge and Albert, they come from a solid generation of designers, they have a strong background,” Espino noted. “When I saw their collections, they know how to adapt to what fashion is today. When the audience in New York saw their clothes, they were appreciative. That’s the best proof of how on-point they are on what they set out to do, and they were able to achieve that goal.” n

CCP, Bench gear up for TernoCon 2020 INSPIRED by the successful outcome of TernoCon 2018, the first-ever Terno Making Convention and Contest held last year at the Cultural Center of the Philippines, the CCP and Bench/Suyen Corp. join efforts again to pursue its mission of preserving and promoting the Philippine national dress with TernoCon 2020 on January 26, 2020.

The 2020 edition aims to encourage the use of the terno as a popular form of formal dress, and to inspire and motivate emerging designers to create ternos that are on a par with the creations of senior designers.

Fourteen designers were chosen as finalists for the competition this year. They are: Abdul Gaffar A. Dianalan (Laguna), Christian Jay P. Martin (Nueva Vizcaya), Xernan A. Orticio (Camarines Sur), Rogelio Samson Pugat Jr. (Ilocos Norte), Renz

Today’s Horoscope

Edward L. Reyes (Cavite), Hanz Herzl Pableo (Cebu City), Christopher L. Zamora (Davao City), Hannah Francesca L. Adrias (Pasay), Jennifer Jean A. Dee (Santa Ana, Manila), Jayson A. Glarino (Valenzuela City), Krizia Kaita A. Jimenez (Quezon City), Windell B. Madis (Makati City), Dinnes Obusan (Makati City) and John Gavin B. Ruffy (Las Piñas City).

Each finalist is required to design and execute a capsule collection of three ternos which can either be cocktail or evening ternos. From May 27 to 31, the 14 finalists will be gathered to attend a weeklong workshop, mentoring and convention at the CCP Silangan Hall.

Notable resource speakers who have enormous contributions to art, culture, design and fashion will talk on specific

topics relevant to the program.

Among the speakers are: Dr. Nicanor G. Tiongson (professor and editor of the CCP Encyclopedia of Philippine Art), Felice Sta. Maria (Filipiniana author), Sandra Castro-Baker (expert in Philippine fabrics), Cholo Ayuyao (doll couturier), Lenora Cabili (designer of contemporary Filipiniana), Mark Lewis Lim Higgins (painter and fashion educator), and Rafael del Casal (portrait artist and ecclesiastical designer).

TernoCon 2020 will have as mentors Inno Sotto (chief mentor), Philip Rodriguez (Cebu’s preeminent designer), Ivarluski Aseron (modernist designer) and Lesley Mobo (international designer), with Gino Gonzales as the project director.

A series of individual consultations with the mentors will also happen from August to

September 2019.

The final competition judging and showcase with a cultural program is set for January 26, 2020 at the Tanghalang Nicanor Abelardo of the CCP. The mentors together with the first prize winner of TernoCon 2018, Marlon Tuazon of Pampanga, will showcase their special terno collections during the final competition night on January 26.

The criteria for judging are: adherence to competition guidelines, craftsmanship, execution of design/fabrication, creativity, and wearability/functionality.

The 14 finalists will receive a Plaque of Participation and the top 3 winners will receive cash prizes from Bench/Suyen Corp.

For more information, contact the CCP Cultural Exchange Department at 832-1125 locals 1708-1709.

g

LIBRA (Sept. 23-Oct. 22): Mix and mingle.

The more people you encounter, the better informed you will be. Preparation can help bring about the changes you want to make. Aim for perfection and personal development. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Stifle any emotional problems before they have time to grow. Taking care of business and living up to your promises will allow you the option to do something unique. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Don’t follow the crowd or believe everything you hear. It’s important to focus on the changes you want to make personally and to nurture the relationships that mean the most to you. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Make positive changes at home that will please those you live with and save you money. Weatherproofing can save on your utility bills, and fun additions will give you more time with family and friends. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Plan a surprise for someone you love or make alterations to your home that will bring family closer together. A romantic adventure will lead to interesting travel plans or purchases that will give you something to look forward to. HHH

l

PISCES (Feb. 19-March 20): Take one step at a time. Don’t make big alterations without researching the procedure you are considering. Making decisions based on hearsay will lead to discord and disappointment. An event that benefits a cause you care about will lead to an interesting encounter. HHH BIRTHDAY BABY: You are enthusiastic and intelligent.

You are curious and compassionate.

‘core elements’ BY GREG JOHNSON The Universal Crossword/Edited by David Steinberg

ACROSS 1 Texter’s “Oh, and...”

4 Adorable one 9 Intel mission 14 “I feel so relaxed!”

15 Yoga posture 16 Sun-dried brick 17 D, I, R and L? 19 Frowned-upon acts 20 Immediate danger 21 Potato discards 23 Lab report writer?

24 Move, in Realtor lingo 25 Neutral color 27 Asian desert 29 E, N, S and W? 34 Assumed name lead-in 37 Watch with a gold crown 38 Cheesy chip 39 Star followers 41 Crock-Pots, e.g.

43 Beef cattle 44 Birthday party or baby shower 46 Pair 47 E, R and S?

0 Harplike instrument 5 51 Do simple math 52 Shape with no corners 56 Sidelines shout 58 Get better 60 “Goodbye, Genevieve!”

61 2017 farewell speech maker 63 A, O, T and U? 66 Group of top celebs 67 Harbor haulers 68 Hill occupant 69 On-ramp sign 70 Observe Yom Kippur 71 ___ of the land DOWN 1 Unflattering news stories 2 Countdown starter 3 Spin 4 Announce a square dance 5 PC port for a cell phone 6 ___ chi 7 Very emotional 8 Beginners’ game mode 9 Hostage document 10 17th-century Tokyo

1 Persuaded 1 12 Woodwind with keys 13 With 22-Down, savings 18 Cowardly traveler to Oz 22 See 13-Down 25 Pairs 26 Not up 28 Toucan’s bill 30 Ink-removing pen brand 31 Go past 32 Traffic sign direction 33 Passable 34 In the distance 35 “Citizen” who remembered Rosebud 36 Thin pasta 40 Serving many customers 42 Like most 1990s music 45 Structure with arches, often 48 Recognize 49 Parents : beer :: kids : ___ 53 Widespread on the Web 54 Health plan provider 55 Very passionate 56 Travel aimlessly 57 Willing’s partner

9 Webb Telescope org.

5 60 Cathedral recess 62 Flavor enhancer letters 64 ___ close for comfort 65 Dominate, in slang

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

W

E are looking forward to this new original Filipino musical, titled Roses for Ben, set to open next month at the Arts Above Quezon City headquarters of maverick theater company Artist Playground.

What is more interesting is that the musical is a creative output of the very young artist Rayne Jarabao, who is just 21 years old. Artist Playground founder Roeder Camañag, who also serves as the director for this new musical, said he is very excited by this collaboration with a young librettist and content creator.

“Rayne did a short play for us recently that focused on mental health, and I was impressed with the way he works, and his burning passion for producing original and new materials for theater. So when we decided to embark on this project that will center on HIV and relationships, I thought of him right away because I wanted something really fresh and not morbid,” Camañag told us, adding. “And Rayne works fast, too. At his young age, he is very professional about deadlines, and he listens. He is a team player.”

Jarabao admitted that he got a lot of push from the distinguished composer Jesse Lucas, who agreed to call the shots for the musical aspect of this production. “We brainstormed a lot with Rayne and we are excited with the final lineup of songs and arrangements.” There will be 21 new songs with a contemporary sound and feel, and accompaniment will be played live in every performance.

When the invitees were treated to samples of the songs to be featured during the recent media launch, one particular composition left every one in awe after it was performed by the lead actor, Jude Matthew Servilla. “Pintuan” is the title of the hauntingly beautiful song that asks if a person pained by love should still open the door of second chances when the heartbreaker returns and knocks on it again.

The charming Servilla is currently a student of the Diliman campus of the University of the Philippines, and has been bitten by the acting bug. It is interesting to note that in 2009, the then 12-year-old hopeful won the “Birit Baby” contest of the long-running noontime show Eat Bulaga.

Born in La Carlota, Negros Occidental, Servilla knew ever since that music will open big doors for him, not only to be able to help his family but to bring him to places where he could only visit through imagination.

“I was born poor but I knew that I was entrusted the gift of voice by God. That is why I am working very hard to take good care of this gift and see where I can bring it to. I enrolled in theater arts because I am fascinated with live performance and hopefully, my dream of becoming a successful live performance artist will come true a few years from now.”

Servilla has worked with Jesse Lucas in the past and the maestro has only good words for the promising singer-actor.

“I see a bright future for him. He has the personality, the humility, the sincerity, the overall packaging that are needed in this very scrutinizing industry. Moreover, he has very good vocal skills. We are very happy that he plays the title role of Ben in this special production,” said Lucas, who also invited Arnold Bacsal on board as his assistant musical director.

Roses for Ben also features the talents of Benj Espina, Mirriam Reyes, Kim de las Alas, Dene Gomez, Ken del Prado, April Rosales, Nikki Herrera, Jerome Fugoso, Christian Silang and original Miss Saigon West End alumnus Bobby Martino in a very special role. The production hopes to go on a national tour before the year ends, as it partners with The Red Whistle and Twelfth Studios to spread HIV awareness through theater entertainment. n

GMA WELCOMES KOREAN SUPERSTAR SEO KANG-JOON

GMA welcomed Korean superstar Seo Kang-joon as he visited Manila for the first time.

The 25-year-old actor is known for his breakout role as Baek In-ho, a handsome and talented pianist in the top-rated romantic comedy series Cheese in the Trap, which previously aired on the network.

This time, Seo Kang-joon will once again delights audiences as GMA presents his latest K-drama hit, Are You Human?, beginning today, May 27, after Love You Two on the network’s prime-time block.

Are You Human? tells the story of a renowned scientist who was forced to part with her young son, Nam Shin. In order to fill the void, she builds various AI robots modeled after him, naming them Nam Shin I, II and III. Years later, Nam Shin will receive death threats and the people who love him do everything to protect him from danger. Because of his excellent portrayal as Nam Shin, the “android oppa” received the Excellence Actor Award at the 11th Korea Drama Awards and the Best Couple Award with his onscreen partner, Gong Seung-yeon, at the 32nd KBS Drama Awards.

Prior to acting, Seo Kang-joon was a member of the Korean boy group 5urprise. He is also a brilliant pianist, and enjoys playing tennis, golf, and horseback riding.

Pinoy fans were able to be thrilled by Seo Kang-joon during a meet-and-greet in Manila on May 25 at the New Frontier Theater in Cubao, Quezon City. The event was presented by CDM Entertainment and MaxPerience Entertainment in partnership with Fantagio Group.

ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

Monday, May 27, 2019

‘Roses for Ben’ is all set to bloom

D3

D4 Monday, May 27, 2019

Style

www.businessmirror.com.ph

PHOTO: @LORNATOLENTINOFERNANDEZ AND MISSRHEATAN ON INSTAGRAM

Lorna T is always a perfect 10 AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

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HEN you come up with a list of the Philippines’s most beautiful actresses, Lorna Tolentino will always be in it.

The former child star who made her movie debut with Divina Gracia in 1970, Lorna is known for her long and curly hair, expressive eyes and well-shaped lips. In the 1980s and early 1990s, women copied her hairstyles (remember the raised bangs that stayed up because of hair spray?) and style.

Women who were pregnant wished that if they had baby girls, they would look like Lorna T, who was known as the “Perfect 10.”

Lorna’s photo shoots with lensman Jun de Leon and makeup artist Fanny Serrano were legendary. She was and still is a goddess, with a face many women hope they were born with.

“Beauty shouldn’t just be skin deep. It should be inside and out,” said the actress, now in her 50s but no less beautiful, at the media launch to announce her being the new brand ambassador for Beautederm Corp.

“It’s easy to endorse something you believe in,” said Lorna of Beautederm Corp., which was founded and established in 2009 by its President and Chief Executive Rhea Anicoche-Tan. Even before she became a Beautederm brand ambassador, Lorna was already using the

products because Rhea would always send her some. Her favorites include the toner and day cream. Lorna is endorsing Cristaux Gold Elixir Serum, which moisturizes, brightens and has antiaging properties.

“It’s a must-have from Beautederm, along with the beauty set and the Pure Papaya and Orange Soap. The Gold Elixir Serum is perfect for glass skin,” said Rhea.

Beautederm embodies Rhea’s principle that beauty begins by taking care of one’s self.

A leader in the Philippine beauty and wellness industry, Beautederm prioritizes safety and effectiveness above all with its Food and Drug Administration-notified products, which only uses plant-based ingredients that are perfectly synergized to deliver the fastest and most effective long-term and sustainable results. A consistent Superbrands awardee, some of the flagship brands of Beautederm include Beautederm Skin Care Sets for both the face and body; Reverie by Beautederm Home, which includes a collection soy candles and room sprays; and Beautederm’s perfume collection which includes Origin Senses perfumes for men, among many others—all top-selling products in the market today.

It’s a milestone year for Lorna as 2019 marks her 50th anniversary in the entertainment industry. Lorna has survived the death of her husband Rudy Fernandez and other setbacks and remains one of the country’s most prolific actresses with a body of work that includes award-winning movies and top-rating TV shows. “I am honored and extremely happy now that I am finally part of the Beautederm family,” said Lorna.

“Ate LT is one of my dearest friends, and I am very humbled to welcome her to the family. She is a remarkable human being and her beauty is striking as ever,” said Rhea. n

Sperry launches sustainable initiative DRAWING on a heritage of innovation and a love for the sea, iconic American footwear brand Sperry (www. sperry.com.ph), known for creating the original boat shoe, is introducing a new collection of shoes made with bionic material, spun from plastic recovered from marine and coastal environments.

A selection of best-loved silhouettes draw on Sperry’s sailing roots, featuring materials and styling inspired by vibrant, multicolored sailboat sails, waterinspired patterns, and stitching details.

The collection’s packaging features eco-friendly innovations: shoe boxes are made from 100 percent

recycled paper material, and only with vegetable ink and water-based glue.

The new collection includes Crest Twin Gore Bionic for women, woven from, on average, five recycled plastic bottles recovered from marine and coastal environments. Aside from being environmentally friendly, this pair is also comfy and easy to wear; Crest Vibe Bionic Yarn for women, designed with breathable sailcloth-inspired uppers made with plastic that found its way to the ocean floors and rust-proof eyelets and genuine rawhide laces with barrel ties for a secure fit; and H2O 7 Seas 3-Eye Waterlust for men, with each limited-collection pair and its custom dust bag protects our oceans from about 24 bottles.

To educate people on ways they can help protect the environment by reducing their use of plastic, Sperry partnered with global and local partners to effectively facilitate its Look Good. Do Good platform: Waterkeeper Alliance, the largest and fastest-growing nonprofit solely focused on clean water; Save Philippine Seas, a nonprofit organization founded in 2011 created to educate and organize community-based projects to protect marine and coastal assets of the country; and SIP, a Filipino enterprise that champions waste management solutions and produces reusable cutlery and straws.

BusinessMirror

Addressing the biases plaguing algorithms

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By Michael Li

XECUTIVES lured by the siren song of artificial intelligence need to understand both the possibilities and risks endemic in AI and data. There are many documented failures of AI attempting to speak and understand human language. Here, we’ll highlight four recent, high-profile examples from Microsoft, Facebook, Google and Amazon. n In March 2016,Microsoft developed a Twitter chat bot using AI named Tay, built by mining public

conversations. The bot would also learn and adapt based on its conversations on Twitter. It took less

than 24 hours for Internet trolls to train Tay to spew out horribly racist, misogynist and generally offensive tweets. n Facebook has a feature called “Memories,” highlighting what happened on today’s date in previous years. It can remind people of joyful occasions. However, it can also remind people of painful memories, like the anniversary of the death of a family member. Or it might ask you to say happy birthday to a deceased friend. n Google Translate uses AI and deep learning to crunch through terabytes of text data to provide automated translation service for dozens of languages. But many other languages mark gender differently than English, and in November 2017, it was reported that its AI algorithms were sexist. n Inundated with millions of resumes, Amazon reportedly tried

to develop AI that could screen potential applicants. Unfortunately, the algorithm reinforced the biases of hiring for male-dominated roles like software engineering.

The biases in all these algorithms are the result of biased training data built by humans. It’s not the fundamental technology that’s racist or sexist, but the data on which we train the algorithms. Companies need to incorporate anti-bias training alongside their AI and machinelearning training, spot potential for bias in what they’re doing and actively correct for it.

In a world in which AI is permeating everything, companies need to instruct all their business leaders on AI’s potential and risks, so that every line of business can spot opportunities and flag concerns.

Michael Li is the founder and CEO of the Data Incubator.

Why every company needs to think like an entertainment company

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By Mark Purdy & Gene Reznik

ETFLIX and other media companies are seeing the future of consumption in the convergence of content, gaming and interactive services. The next great content convergence will prove revolutionary, bringing together a host of next-generation technologies such as virtual and augmented reality, AI, the Internet of Things and haptic technologies (those that simulate touch and motion). It will be multisensory and interactive. We can already see four ways in which this convergence will change the nature of consumption and how consumers make decisions.

BEING THERE: Nothing beats the

roar of the crowd, the thrill of live action for a sporting event. But in a physical world of scarcity and dis-

TESLA’S STRONG BRAND GIVES IT UNUSUAL EXPANSION POTENTIAL

tance, another solution is at hand for people who are left out: Virtualization, smart objects and haptics now make “being there” a reality for many who would otherwise be unable to experience such spectacles.

FORMING VIRTUAL COMMUNITIES: Many “consumption activities”—sport, travel, recreation, fine dining—are best enjoyed with friends, relatives or people who share a common interest. Far from encouraging solitary pursuits, immersive technologies will increasingly combine elements of community and real-time interaction.

DISCOVERY: Today, consumer search and comparison shopping are still largely considered a timeconsuming chore. But the next great content convergence will enable much more stimulating ways for consumers to explore new products,

M

By Eddie Yoon

OST of the buzz about Tesla’s recent quarter is about its $700-million loss or its seemingly wild robo-taxi idea.

Short-sellers smell blood in the water as the stock has declined more than 20 percent in 2019.

However, lost in the shuffle is Elon Musk’s announcement that Tesla will offer a “compelling auto insurance product” within a month.

Auto insurance may seem like another distraction for a company that should be focusing on its core business. However, what if insur-

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

services and locations.

IMAGINATION AND STORYTELLING: If a picture is worth a thousand words, then how much more powerful must be the combination of sight, sound, touch and agency that virtualization brings.

To be successful in this world, companies will need to think much more like an entertainer than a producer or retailer. What should they keep in mind?

HAVE THE BEST MATERIAL: Businesses need to forge the right partnerships—with media companies, production and design—to create the immersive experiences consumers will demand.

KNOW YOUR AUDIENCE: Popular entertainers often owe their success to knowing exactly what their audiences like, and providing it for them.

MIND YOUR LANGUAGE: Companies operating immersive services will need to navigate a new thicket of ethical and related issues around privacy, addiction and virtual crime. Early engagement with regulators and adherence to principles of responsible immersion will be critical.

Entertainment can be more powerful than cold efficiency. In an age defined by immersive and interactive experiences, how will your company win the crowd?

entertainment generates a buzz— it gets people excited about what’s coming next.

Mark Purdy is the managing director for economic research at the Accenture Institute for High Performance.

Gene Reznik is Accenture’s chief strategy officer.

ance helps along the path to profitability and is just the first act of a powerful mega-brand adjacency that paves the way to Elon Musk’s grander visions?

Having helped several clients build multibillion-dollar mega-brands, I’ve found there are several critical success factors.

First, you must pick the right first adjacency to enter. The first move is the hardest, so you want an adjacency that either has a very similar go-to-market model or has a partner who does the heavy lifting for you. Tesla is doing the latter by partnering with a unit of Markel

to provide insurance.

Second, it should have attractive economics measured by the inherent financials of the adjacency itself—but also based on how it improves the economics of the core business.

In Tesla’s case, the latter element is particularly important, because one reason consumers buy electric cars is to save money by not buying gas.

However, that savings is offset by the costs of insuring a Tesla, which are among the automotive industry’s highest. Therefore, if Tesla can reduce the price of its insurance, it should help make owning a Tesla more attractive and drive

GET PEOPLE TALKING: Successful

Monday, May 27, 2019 E1

WWW.FREEPIK.COM

www.businessmirror.com.ph

Machines that speak and write will make misinformation worse

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By Amy Stapleton

ECHNOLOGISTS have long dreamed of building machines that converse as nimbly as humans. So, what’s the problem? We are not adequately prepared to address the hazards that could come with our successful launch of conversational machines. To anticipate the challenges ahead, it helps to take a quick look at the underlying technologies.

The coming era of proficient talking and writing machines holds many challenges that few seem to be seriously addressing. Here is a small list to ponder: n How do we ensure improved conversational technologies don’t result in a new generation of pernicious and convincing fake-news bots? n How do companies protect themselves from rogue bots speaking on their behalf? n How can we avoid scenarios in which machines try to please us by telling us only the things we want to hear? n What methods can we employ

more core-business car sales.

You might laugh at the idea of Tesla life insurance, but if it cracks the code on auto insurance, is it really that hard to imagine Tesla offering life insurance? The median age of Tesla owners ranges from 46 (Model 3) to 54 (Model S). The average annual life-insurance premium is nearly $1,100 for a 50-year-old nonsmoker. If we said the commission was 70 percent, that would add another $770 in commission revenue to Tesla, or another 135 basis points of margin on a Tesla Model 3.

The final critical success factor is the avoid-

to prevent verbose machines from dragging all human discourse down to the lowest common denominator? (The software that generates automated responses relies heavily on data sets of the most mundane human-generated content and conversations.)

Those creating these powerful technologies should focus attention on how to leverage them for the true benefit of the consumer.

If we can create bots that spread fake news, can we create technology that exposes such falsehoods?

Perhaps we can go a step further and highlight one-sided points of view? Such a service could help keep consumers from falling into the trap of turning off their criticalthinking receptors.

Every technology created by humans comes with pros and cons. As we race headlong into the era of conversational machines, it’s time to start thinking about their cons and designing tools to combat them.

Amy Stapleton is the founder and CEO of Tellables. ance of too many mega-brand extensions. Your mega-brand is only as strong as its weakest category.

Mega-brand strategies need both the sizzle of new technologies and the steak of trilliondollar categories where you can bring something unique to the table. Tesla already has over $800 million in deposits for future cars. Having a successful mega-brand lets you play chess, while others play checkers.

Eddie Yoon is the founder of Eddie Would Grow.

E2 Monday, May 27, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

DOF taps education, ICT in higher SoKor aid to Asean

By Manuel T. Cayon

D

@awimailbox Mindanao Bureau Chief

AVAO CITY—Finance Secretary Carlos Dominguez III said the Philippines would look into the opportunities in educational cooperation and assistance from South Korea, as well as in information and communications technology (ICT) application in government.

This developed as South Korea is poised to forge aggressive relations with the 10-member economies of the Asean.

“In light of South Korean President Moon Jae-in’s policy centered on the three Ps—people, peace and prosperity—and his recognition of the strategic importance of Asean in the global economy, Lee said his government has pursued several initiatives on education, ICT and inclusive development, among other programs, that the Philippines could tap to help achieve its goal of economic inclusion for all Filipi-

nos,” Dominguez said in a meeting held recently with officials of the Korea International Cooperation Agency (Koica).

Dominguez said the opportunities may include the Asean Higher Education Initiative, which involves the exchange of college students between South Korea and the Philippines, and South Korea’s developed ICT programs to assist the Philippines in enhancing transparency in governance and reforming its tax system.

He thanked South Korea for supporting the Philippines’s efforts to

enhance the use of digital technology in improving tax administration through its support for the electronic invoicing and receipts system of the Bureau of Internal Revenue.

“We want to express how appreciative we are of the assistance we are receiving from the Korean people through the Korean government. I hope that we can expand our cooperation at this time and for the coming future,” Dominguez told the South Korean delegation led

by Koica President Lee Mikyung.

Dominguez thanked Lee for outlining the South Korean government’s policies and programs which, he said, the Philippines supports by investing heavily in human capital development, especially on education, training and improving the quality of the Philippines’s work force.

“We appreciate your help in the digital enhancement program,” Dominguez said. “We wish to really start the program by implementing first the electronic invoicing system. We looked around the world and we found that the best electronic invoicing program is in Korea. We wish to adopt it here.”

Lee said with South Korea’s assistance to Asean in 2017 almost tripling by 2022, the Philippines can also expect the volume of sup-

port from his country to also increase during that period.

He said Korea expects “more close and deepened cooperation” with the Philippines, especially as this year marks the 70th anniversary of the diplomatic relations between the two countries.

Lee said that since President Duterte assumed office, the Department of Finance and the National Economic and Development Authority “both played pivotal roles in the Philippines’s economic development and poverty reduction efforts.”

“I am also happy to see that you are making progress and achievements in these areas,” Lee said.

“With the new set of policies presented by the Korean government, our volume of assistance to Asean countries would be increased by 2.8 times in 2022 compared to that of 2017, that means the volume of assistance to the Philippines would be naturally increased,” Lee said.

Lee cited South Korea’s assistance to the government’s peace and development efforts in Mindanao, that include humanitarian assistance coursed through the United Nations International Children’s Emergency Fund (Unicef), Food and Agriculture Organization (FAO), and the International Organization for Migration (IOM).

Ayala Foundation, Microsoft launch CodeIT for students

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N the future, students will face a job market vastly different from the one that we have right now. In fact, studies show that 65 percent of current students will be applying for jobs that do not yet exist, many of which are in the ever-expanding field of digital technology.

To help address this gap, Ayala Foundation has recently partnered with Microsoft Philippines to launch its latest digital education project called CodeIT. This initiative aims to provide underserved Filipino youth access to technology and computer science training, in order to equip them with the right skills and prepare them for the workplace of tomorrow.

Together with the Department of Education, CodeIT strives to make an impact in the lives of at least 4,000 students and 120 teachers from public elementary schools nationwide.

The project is composed of a twopronged strategy that starts with a “train the trainers” approach—lead teachers are trained, who, in turn, tap partner schools and impart programming knowledge to new teachers. CodeIT trainers are also provided with close mentoring and resources throughout the program.

CodeIT is complemented by computerscience lessons integrated into Grades 3 to 6 classes, as well as computer-science after-hour programs to sustain engagement among students. Apart from learning how to use coding platforms, the students also get to develop skills like critical thinking, problem-solving, logical reasoning, creativity and innovation.

“Ayala Foundation actively supports the continuing growth and development of our teachers and students in the public-school sector,” said Ayala Foundation President Ruel Maranan. “Through digital education brought by CodeIT, we are equipping our students and teachers with the necessary tools and skills that will prepare them for the challenges of tomorrow.”

“We, at Microsoft, recognize the importance of developing our academic curriculum in order to include new courses that would help Filipino students be future-ready,” Microsoft Philippines General Manager Andrés Ortola said. “Through this partnership, we hope to empower the young generation with skills that would allow them to easily adapt and leverage artificial intelligence in their future careers.”

CodeIT will be piloted in 12 public elementary schools nationwide this June.

BRIGADA ESKWELA 2019 Students of Santiago City National High School (SCNHS) in Isabela help dig surface soil, put them in sacks and transfer them to the school garden. The annual activity launched years ago by the Department of Education seeks voluntarism among parents, teachers and students to prepare the campus clean and green shortly before the opening of classes. CEASAR M. PERANTE

Research in service of the people: Celebrating DLSU SDRC’s 40 years Part One

By Paula Symaco Joson

Special to the BusinessMirror

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HE Social Development Research Center is the longest existing social science research center of De La Salle University (DLSU). Throughout the years, SDRC has been committed to fulfill its two-fold mission: to become a center for research and advocacy in the Philippines and the Asia-Pacific region, and to bridge the gap between the local community and the academic community.

With the center’s vision for individuals to have better standards of living, the SDRC generates impactful programs and research outputs utilized in academic teaching to expand knowledge, and to help foster growth and change in the community.

This year, the SDRC celebrates its 40th anniversary. It was founded in 1979, under the leadership of then-Vice President for Development and Research Br. Andrew Gonzalez. The Office of Research, the Textbook Development Office, the Case Research and Development Office and the Industrial Research and Development Center were restructured and integrated into the DLSU Integrated Research Center (IRC), with Dean of the College of Arts and Sciences Exaltacion C. Ramos

as acting director. Such were SDRC’s humble beginnings. Being that 40 years is an exceptional achievement, the SDRC also celebrates this milestone by looking into the history it has imprinted and will continue to imprint not only on the University and the community, but on the local, regional and national level, as well.

To enable advocacy and capacity building, the SDRC conducts research on socially relevant issues in order to respond to the influx needs of society.

Data gathered through the research are disseminated and utilized to build public awareness and discussion on the issues.

This practice manifests DLSU’s missionvision, which is to advance learning and knowledge use through research, and to become a valuable resource for the church and the nation. In light of its 40th anniversary, the center has conducted activities and has proposed pledges, which were set to amplify SDRC’s mission and vision.

These activities and proposed pledges have transpired as Capacity Building Training/Workshops and Publications.

On the one hand, the Capacity Building Training/Workshop efforts were conducted from May 2018 to January this year, aiming to increase the knowledge, output and skills of their participants in the following areas: programs and management monitoring, leadership compe-

tencies and development, participatory approaches to research, proposal writing, evaluation research, statistical methods for social science and basic research methodologies.

These training sessions were conducted by faculty members and by SDRC’s pool of researchers who imparted their knowledge in their respective areas of specialization. Trainings and workshops were conducted in four areas within the country: Northern Luzon, Southern Luzon, Visayas and Mindanao, where around 40 schools and universities participated in the sessions. On the other hand, a special anniversary publication tapped SDRC’s research fellows to share the research methods or methodologies they have utilized in the projects that they have conducted. Entitled Revving Up Research Innovations for Social Development: Methods and Perspectives, the book is edited by SDRC Research Fellow Dr. Romeo B. Lee and Publications Coordinator Connie J. Maraan. It is published by the DLSU Publishing House, and seeks to share and disseminate the knowledge that SDRC’s research fellows have developed in the course of its research productivity through the years. To be concluded

Paula Symaco Joson is an Organizational Communication undergraduate student at De La Salle University.

www.businessmirror.com.ph

PMA training now focuses on national security management

By Marilou Guieb

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Correspondent

HE Phi lippine Mi litar y Academy (PMA) has an upgraded curriculum for the incoming cadets come June 1 when classes start.

Every cadet now will major in national security management, in response to the growing threats to national security.

Brig. Gen. Cheston Valencerina, head of academics, said this will cover the security landscape on the regional, national and even international levels. There is economic, political and environmental security among other aspects, taken from a military standpoint.

The state of economy of an area has an impact on security. For one, the less economic opportunities a place has, the more vulnerable it may be to disruption of peace and order and terrorism. The kind of economy running in a place will also be part of a mapping study.

Mindanao is a case cited as with less investments, the region can be more in danger of security threats, and with violence escalating, this in turn will discourage investors.

On the political aspect, Valencerina said part of it is establishing rapport with the local government units for cooperation.

It has also been observed that more military personalities are turning to politics. PMA Superintendent Lt. Gen. Ronnie Evangelista said that for military officers who have been in active service for some 34 years, politics can be another calling to continue serving the people.

“Why not? After all, it’s still a noble profession,” he said.

Valencerina said environmental security must also be studied well.

He said as detachments are assigned in different areas, aspects like vegetation and mapping of threats are important.

While these are part of the military science in the curriculum, the new security-management course will enhance such aspects in view of present-day terrorist threats not only on the national level, but also internationally.

Evangelista also welcomed the renewed inclusion of the ROTC in mainstream education.

“This is good. Our incoming leaders need to have patriotism and nationalism. ROTC will catalyze

this and ingrain discipline. For the youth, ROTC will be love of country put into action,” he said.

Despite all the focus on preparing for threats to national security, Evangelista sounded the call against war, stressing the country cannot afford another Marawi seige of sorts.

“We spent billions neutralizing [the enemy] and [are] still spending billions to rehabilitate,” he said, but rationalized that the military could not do otherwise as the ISIS had to be neutralized. “For the sake of the next generation, let’s put an end to this. The Army is making changes to succeed in future endeavors.”

Evangelista also disclosed that close to 20 percent now of the cadet population are females, proving their worth as well as their male counterparts.

The process of determining the number of females coming is more tedious, Evangelista said.

Of the incoming 400 that can be admitted in the coming school year, there will be 80 females, so it is more competitive. In fact, of the 20 percent belonging to the original 2019 graduating class of 349 admissions, 42 were consistent salutatorians and valedictorians in schools where they came from, said BGen. Bartolome Bacarro, commandant of cadets.

The graduating Mabalasik 2019 class is 263 strong, but 223 originally belong to the batch. The rest are turnbacks completing the course.

Mabalasik, which stands for Mandirigma ng Bayan Lakas at Sarili Iaalay para sa Kapayapaan, is topped by 21-year-old Cdt. 1Cl Dionne Mae Apolog Umalla from Alilem, Ilocos Sur. She is the fifth female top graduate since women were first admitted to the academy in 1993. The top 10 students in the class have an equal number of five females and five males. Of the graduates, 134 will be joining the Army, 63 will go to the Air Force and 66 will join the Navy.

Evangelista said the rate of survival this year is higher at 50 percent compared to an average 35-percent retention of admissions. It’s a very intensive challenge, several graduating cadets acknowledged.

Bacarro said the main reasons for not making it at the PMA is failure to comply with regulations, followed by violation of the honor code and academics.

CGBP launches 3 Best Practices programs for Cebu biz owners

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ITH the clamor of many business owners and decisionmakers based in the Visayas to have more world-class training available to them, the Center for Global Best Practices (CGBP) will bring three of their best-selling programs to Seda Ayala Center Cebu, Cebu City, in June 2019.

The “2019 Revised Corporation Code of the Philippines” to be presented on Wednesday, June 19, will comprehensively discuss and interpret the new changes in the law and their impact on all corporations. This program will also cover updates in all the essential Securities and Exchange Commission (SEC) regulations issued from 2017 up to the present.

The second program will be “Best Practices in Implementing Effective Business Controls” scheduled on Thursday, June 20. Learn the best practices on how to design and implement controls that will safeguard your assets, enhance integrity of financial reports and protect you from business operational risks.

Discussions will include best practices framework on financial processes and controls, operational policies, and business examples. Grow and professionalize your company by strengthening your business controls! This program is CPDaccredited. Accountants attending this program will earn points.

The “Masterclass on Writing Minutes of Meetings” set on Friday, June 21, will be on the third day. With the current climate of greater accountability of board

directors and management in decisions made during meetings, every organization needs trained experts with the right skills to take minutes effectively.

This is the only program that will teach you the best practices in minutes taking and provide you vital information on the legal guidelines and regulations on meetings mandated by the Securities and Exchange Commission. It is designed to make your meetings efficient and its outcomes effective through a step-by-step guide from preparing the documentation and its physical requirements of a meeting, to agenda-setting, to using standard terminology in taking down notes and many more!

These programs are open to the general public. CGBP is an accredited training provider of the Civil Service Commission.

Attendees from the government can earn points for their career advancement and are exempted from the P2,000 limit when attending training conducted by the private sector based on DBM circular 563 dated April 22, 2016. For details and a complete list of SEC-accredited programs such as “Corporate Governance Board Effectiveness Best Practices,” “How to Create a Working Board,” “Best Practices on Sustainability Reporting,” “Certification Course for Compliance Officers,” “How to Use Parliamentary Procedures in Meetings” and many more, visit our web site at www.cgbp.org or call Manila Lines: (+632)842-7148/ 59 and 556-8968/69; Cebu lines: (+6332)512-3106 or 07.

Marketing How can I beat burnout?

BusinessMirror

www.businessmirror.com.ph

Editor: Efleda P. Campos • Monday, May 27, 2019 E3

D

By Millie F. Dizon

5Against Nature by JK Huysmans.

What does severe burnout feel like from the inside? You need to look to literature to find out. Cohen’s unlikely recommendation is this 19th century novel.

“Against Nature is hysterically funny in many ways,” Cohen said. “It’s about a languid aesthete called jean des Esseintes who retreats to his family villa in Fontenelle outside of Paris.

The novel portrays brilliantly all the paradoxes and tortures of what we call burnout—arguably more accurately than any nonfictional treatment.”

Sincerely, Hilda L. Dear Hilda, Most of us have days when we feel helpless, overloaded or underappreciated— when we find dragging ourselves out of bed. If you feel like this most of the time, you may be burned out.

This is especially true, Hilda, if you are doing creative work continuously, and deadlines are demanding.

Burnout reduces productivity and saps your energy, leaving you feeling helpless, hopeless, cynical, and resentful. Eventually, you may feel you have nothing more to give.

But the good news is that it doesn’t have to be that way, and there are means to overcome this. The first, of course, is to pray, take a break and then take some advice from experts In an article “If You Want to Avoid Burnout, Adopt this Simple Habit from 28-Year-Old Bill Gates,” in Inc. com, Julian Hayes shares with us a throwback from a 1984 NBC Today Show interview wherein a young Bill Gates shares his thoughts on, among other things, burnout.

When asked about the possibility of experiencing burnout before 30, he replied that he wasn’t worried about it. Here is what he said then: “Well, the work we’re doing is not—it’s not like we’re doing the same thing all day long. We go into our offices, think of new programs, we get together in meetings, we go out and see end users, we talk to customers. There’s so much variety and there’s always new things going on. And I don’t think there’ll ever come a time when that would be boring.”

In short, Hayes said, “Gates avoided burnout simply because he injected variety into his day. Doing this made boredom nearly impossible. Injecting variety into your day seems conceptually simple, but the difficulty lies in the execution as humans have a propensity to rigidness.”

Gates definitely practiced what he preached and over the years, we have seen how he has evolved from a tech master into a philanthropist. Variety indeed is the spice of life and it helps cure burnout.

Similarly, in an article “5 Books that will Help You Cure Your Burnout” also in Inc.com, Jessica Stillman lists five books recommended by psychiatrist and doctor Josh Cohen.

“Nearing your breaking point? “she asked. “Before you change your job or lifestyle, read these books,” which she said are a good place to start.

PEOPLE: BONSEY JADEN GROUP EXPANDS LEADERSHIP TEAM AS GLOBAL GROWTH CONTINUES WITH THE APPOINTMENT OF NEW GROUP C.O.O. AND DIRECTOR OF STRATEGY & PLANNING KUALA LUMPUR—Bonsey Jaden is off to a sterling start in the second quarter of the year, with the appointment of a new Group chief operating officer, as well as a director of Strategy and Planning.

As the first full-time employee at Bonsey Jaden, Taryn Mook has risen through the ranks to the hard-earned position of Group chief operating officer, having personally and professionally grown with the

agency. From client management, recruitment, pitching, finance, operations and branding the agency, her experience has been deep and broad.

In her new role, Mook hopes to close the gap between branding and communication services by transforming the way brands are built and change the perception that branding only happens in a branding studio among a rare group of exclusive specialists.

“My priority is to continue building momentum in providing clients data-driven brand experiences, from both a positioning and operational perspective,” shared Mook. “We will be making some key changes to the organization’s structure and service offerings in the next six months, as we evolve into a more modular and agile business that allows us to truly deliver on our promise of being digital brand architects.”

WWW.FREEPIK.COM

PR Matters

enforced positive thinking and action,” Cohen noted. “That’s what he is describing as nonstop inertia, because you feel like you’re never really getting anywhere. You have to keep going at a pace that makes your enthusiasm visible.”

EAR PR Matters, Like many of those in the communications industry, my job at a medium-sized agency involves a lot of writing and conceptualization. That is why I really appreciate your column’s inspiring articles, especially those on how to develop our writing skills.

This can be very exciting, but however, when I am swamped with work, I often feel overwhelmed and on the point of suffering a burnout. I will be happy if you can share some tips on how to overcome burnout.

Weariness of the Self by Alain Stop Inertia by Ivor South1The Ehrenberg.

4Non wood.

The book takes a critical look at the relationship between depression and our over optimistic, can-do culture.

“Positive thinking always assures us that we can be more, that we can do more, that we can achieve and attain more,” he said. “This is supposed to be empowering. It’s supposed to make us feel very good about our own capacities. But in fact, it sets us up against an ideal of ourselves, in the face of which we always feel inadequate, and against which we’re always falling short of. In short, because we’re always told we can do anything, we frequently feel bad we’re not doing more.”

Adolescence without 2Hikikomori: End by Saito Tamaki.

Hikikomori are young Japanese people who refuse to leave their rooms. The book “cements the idea of burnout as being a malaise of inadequacy and a sense of failure. These kids are in a way so overburdened by the prospect of not achieving, of not fulfilling the potential that’s been transmitted to them in the educational system, in the employment system, by their family.

There’s so much anxiety about fulfilling the role that’s been legislated for them in their future that they’ve shut down.”

“They burnt out not so as a result of what they’ve done, but as a result of a burden of expectation that they’ve internalized.” In short, burnout is more about expectations than exhaustion.

A History by Anna 3Exhaustion: Schaffner.

Maybe your burnout is bad, but at least, you can take comfort in the fact that you’re the latest in a long line of weary achievers, Stillman said. Schaffner traced the problem of exhaustion all the way back to ancient Greece and the Bible. Ecclesiastes is one of the great statements of weariness of the self: “Vanity is all vanity.”

While Bonsey Jaden flourishes under the watchful eye of a new Group COO, they also welcome a new face to the role of director of Strategy and Planning, Scott Nelson.

A seasoned, multidisciplinary strategist, Nelson’s responsibilities consist of leading their diverse client base with digital first-brand strategies and experiences that deliver on distinct business goals.

Overseeing a diverse team across the region, he doesn’t believe in the “planner, creative, suit” mentality; instead looking at the entire experience and what it means for the client’s business, rather than simply delivering a campaign.

“I’m excited about building a diverse team of planners and strategists who aren’t only Ad, Tech or Brand people, but a team who believes in the power of well-designed brand experiences— media-based or otherwise,” said Nelson.

Don’t blame your burnout just on your own psychology. Politics, culture, and the modern economy all play a role, too, as Southwood explained in his book. Not only is work more precarious these days, but it also demands a lot from us emotion-

ally. We not only have to get stuff done, but we also have to broadcast our achievements and out supposed joy in accomplishing them.

“Southwood really anatomizes the new culture of the workplace that ties the precarity of finding work and keeping work to this culture of

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

ExecutiveViews BusinessMirror

www.businessmirror.com.ph

Monday, May 27, 2019

E4

Banking on good sense, customer weal

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By Bianca Cuaresma

HEY say that in order to build a castle, you must lay one brick at a time. But Robinsons Bank President and CEO Elfren Antonio Sarte likes to take a step further: he makes sure that each brick fits, and each brick serves its purpose.

In laying the groundwork for an aggressive expansionary plan for any business–let alone in the banking industry–it is easy to get lost in the overzealous attempt to put up more branches or in the allure of steep spikes in profitability.

But Robinsons Bank’s ascent toward its ambitious goal to becoming one of the biggest banks in the country is steered by a steady hand.

For Sarte, as the foreman of the bank’s vision, each step should make sense.

A career banker in most of his professional life, Sarte–who hails from the De La Salle University–joined Robinsons Bank as its president and CEO in 2014.

“When I joined the bank in 2014, the primary objective of our chairman Mr. Lance Gokongwei is to move the bank to have a significant presence in the industry,” Sarte said as he sat down with the BusinessMirror. “My guidance today to my people is this: we only do deals that make sense,” the CEO said.

Upon taking office, Sarte crafted for the bank a five-year game plan which he dubbed as the bank’s ‘Roadmap: 2020’–to drive the bank from its current commercial banking status to a universal banking grade.

“I recall when we were developing the Roadmap:2020, when we were talking about my original plan, the numbers, and where we will go in the next five years I think my officers then said ΄these are really aggressive numbers’, ” Sarte said.

But Sarte took to heart his vision and put in the work that led the bank to expansionary mode. Since his joining in 2014, the bank’s overall; ranking in the industry in terms of assets rose from 26th to 19th as of 2018. Robinsons Bank’s asset base grew more than two-fold from P47 billion in 2014 up to P120 billion at the end of 2018.

“Aside from increasing our asset base of course we are also improving and we have improved our capabilities so we can service also our corporate clients, and individual clients better. One of the first things we did was to expand our capability in cash management so that we can service our corporate clients including the JG Summit ecosystem. We also expanded our capability in lending, so we are aggressive in both corporate and commercial lending and of course consumer lending,” Sarte said.

Robinsons Bank’s loan portfolio mix is largely dominated by corporate lending–with

their corporate loan sector comprising about 70 percent of the total loans while 30 percent is on consumer loans. In 2018, their consolidated loan book is at P68.3 billion–P45.4 billions of which is corporate while P22.9 billion is consumer.

“As you know, last year, the Bangko Sentral ng Pilipinas [BSP] increased the rates by 175 basis points, so in terms of corporate and commercial lending, we are more careful in the loans that we give because of the pricing environment. But we are continuously expanding our consumer lending business,” Sarte said.

“There is a bit of a slowdown in our corporate and commercial lending this year, but we expect that to recover in the second half of the year. We are just waiting for the market conditions to improve, because if the rates are too high, this will affect our capability to do some deals,” he added.

The bank said they are also looking to continuously expand their consumer lending business strongly in the coming years, with doubledigit growth figures as guidance in the sector.

“We are strong in home loans, we are strong in auto loans, we have a sizeable presence in the motorcycle business and we have tie-ups also for personal lending,” Sarte said.

The bank also started to grow its credit card base. Its recent product called the ‘DOS‘ is pegged on the concept of flexible payment, as it is programmed to split the payment of the cardholder’s purchases in two tranches at zero interest.

“The way we did it is we tried digital marketing for this campaign. We had success but as it is, cards is a long-term business proposition.

We are happy with where we are, but I am sure as we become more aggressive we will see the card business growing more rapidly. We are very careful with our portfolio quality so we try to balance growth and portfolio quality,” Sarte said.

“We are trying to reach that within the year. There are a lot of big card issuers but they have been in the market for 15, 20 years. I think we can have a sizeable play in this credit card market and we are structured because

of our ecosystem. There is support for the business that is unique. Actually, that is one thing unique with Robinsons Bank. It has a big ecosystem. Just taking advantage of that ecosystem will allow us to grow, but at the same time we try to grow beyond the ecosystem and get as much customers as we can have on board,” Sarte said.

In terms of bank branches, in 2014 before Sarte’s leadership, the bank had 92 branches.

This year they are looking to end 2019 at around 162 branches—nearing their 210 branch target according to the CEO’s roadmap.

Dealing with the next phase: Universal banking

THE bank’s ultimate goal after laying the groundwork on expansion and base, is to advance its status to becoming a universal bank.

“We recently got an approval to increase our capital base from the SEC [Securities and Exchange Commission]. It was approved by BSP, increasing our authorized capital stock to P27 billion from P15 billion and our paid-up capital is now at P15 billion so that says a lot as to what our plans are and how we see the bank, ” Sarte said.

“The direction really, is we are looking at a direction of a universal bank status. That is why we are already increasing our capital base and also to support the expansion of the bank since the objective is to have a significant presence in the industry,” he added.

The next phase, beyond 2020, is the bank’s move towards publicly listing in the local bourse. “As soon as we have that base, we think we are ready to go to unibank status, list the bank and tap capital market to support funding,” Sarte said.

Recently, the bank tested their reputation to the investing public via the issuance of two Long Term Negotiable Certificate of Deposit.

“In both cases we were very happy with the outcome. It seems that the investing public apparently trusts the name even if we are very small,” Sarte said.

Dealing with the unexpected: Digital transformation

SARTE said that, under his original plan, he was focused on putting up branches where it mattered. But with the fast-paced evolution of the banking industry, he had to tweak his five-year plan for the business to make sense.

“When I was developing the road map in 2014, disruption was not a term. Digital disruption or transformation is not a word. We were looking at the traditional organic growth over the 5 years,” Sarte said.

“That is the problem with five-year plans.

The environment changes very rapidly,” he added.

The CEO said they advanced all their traditional businesses forward as he is now focusing his gears on all expansion related to transform the bank’s capability to adapt to digital banking.

“I slowed down on trying to expand our branch network. We are still opening because I still believe that we are not going to achieve a cashless economy anytime soon. Maybe cashlite but not cashless. So I still feel there is value in having a retail network branches of relationship officers talking to customers,” Sarte said.

“I have to really rush the release of the other businesses that were originally targeted to be launched this year because right now what I am doing is not aggressively opening branches but we have a lot of digital initiatives already,” he added.

Along with their push to becoming more digitized in the coming years, Robinsons Bank has also made efforts to beef up their cyber security measures. Their strategy is to leverage their strengths as part of one of the country’s largest conglomerates.

“We work closely, because we are part of a conglomerate so I leverage on the capability of the conglomerate, on the IT resources. So we are sharing our data center and setting up our own security operations center [SOC] because once we have a cyber-attack we need to report that immediately to the BSP,” he said.

The bank president said in the long-run,

they are looking to put up a more advanced SOC wherein the bank can get the benefit of information on what is happening around the world in terms of cyber-attacks and put up the defense before it comes here.

Dealing with identity: Becoming “customer-obsessed”

AT the end of the day, Sarte said all their efforts boil down to one thing: providing a convenient and top-notch banking experience for their customers.

“When Lance [Gokongwei] took over as the CEO of the conglomerate, one of the key pillars is being a customer-obsessed conglomerate. So we are now also embarking on really making the customer front and center of what we are doing,” Sarte said.

“At the end of the day, what will make us different is being customer-obsessed, because all banks will have the same product, different positioning but at the end of the day, it is taking care of your customers that is important, ” he added.

“Just to share how we were really handling our expansion, it is not just on the physical presence and capital, we were also very conscious that we should be rolling out products that can help our customers and that is very important for us,” Sarte said.

The bank plans to increase this customer base through the branches they have already put-up. Sarte also said they are always on the lookout for investment and acquisition opportunities to grow the bank’s market.

“We are always on the lookout for potential partners to expand the bank. We want the mix of the new clients that we might be able to get and that we will have presence in areas that we’re not yet present. Even from smaller banks we get offers, we bidded in some, some we did not get but we continuously look at potential investments,” Sarte said.

“We will invest not because we want to be bigger, but because it will make sense. We will be stronger,” he added.