BusinessMirror May 29, 2019 by BusinessMirror

TOBACCO TAX CERTIFIED URGENT; ‘BLOODY’ DEBATE SEEN By Butch Fernandez @butchfBM

& Bernadette D. Nicolas @BNicolasBM

ENATORS see a tough task ahead in passing the final reconciled version of a controversial revenue measure increasing the excise tax on tobacco products, even if its passage was certified urgent by Malacañang on Tuesday. Still, Senate Majority Leader Juan Miguel Zubiri told reporters they are aiming for a plenary vote on the Palace-endorsed “sin” tax bill early next week, as Congress is set to adjourn anew, going on recess from June 8 to July 21.

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“Madugo pa [It’s still bloody],” Zubiri said of the deliberations on the tax bill, adding, “but we need to pass it by Monday.” Being a certified bill, “we can proceed to vote direct on second and third reading” in one sitting, he pointed out. This, even as Finance Secretary Carlos Dominguez III aired optimism that the bill will hurdle the vote, citing signals from House leaders they were open to adopting the Senate version of the revenue measure that imposes a P60 tobacco excise tax. Adoption of the Senate version by the House will avert lengthy bicameral talks to hammer out a reconciled final version soon.

Camarines Sur Rep. Luis Raymund “LRay” Villafuerte on Tuesday said he is ready to support the Senate’s proposed staggered rate hike for the pending amendment of the Sin tax law. In a statement, Villafuerte said Sen. Juan Edgardo Angara’s rate proposal is “acceptable” even if a big departure from the rate being pushed by the Department of Finance (DOF) and Department of Health (DOH). “The current Senate formula of a staggered increase of P45 for the first year with incremental increases of P5 until it reaches the P60 level is still acceptable,” Villafuerte said. DOH and DOF want a P60-per-pack increase in the excise tax for cigarettes, to be

increased by 9 percent each year thereafter. What is important, however, is for the tax reform to pass the bicameral conference and be signed by President Duterte before the 17th Congress adjourns, Villafuerte said. Meanwhile, Dominguez suggested that senators consider adopting the House version of the sin tax on alcoholic drinks, noting that “the bill was already passed in the House, so all they [senators] have to do is adopt the House version—just like the House is considering adopting the Senate version for the tobacco.”

Certified urgent

DAYS before the 17th Congress officially adjourns

to make way for a new set of lawmakers, President Duterte on Tuesday certified as urgent the Senate bill seeking to raise cigarette excise tax. According to Presidential Legislative Liaison Office Undersecretary Ryan Estevez, the President signed the document only on Thursday afternoon. In a phone call with the B usinessM ir ror , Estevez said Senate Bill 2233 was the only one certified urgent by the President since the House of Representatives has already passed its version on third and final reading. With the urgent certification, a bill need not undergo the three-day rule between the second

and third reading, with approval on both levels done within the same day. On Monday, senators firmed up an emerging consensus to raise cigarette excise tax on top of stiffer penalties against illicit traders, formally endorsing the measure for plenary consideration and approval. Angara, panel chairman, confirmed that the majority of the 15-member endorsed Committee Report 714 raising the excise tax by as much as P45 in 2020 to P60 per pack in 2023 and mandating a 5-percent yearly hike starting January 1, 2024. See “Tobacco tax,” A8

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Wednesday, May 29, 2019 Vol. 14 No. 231

‘Red tape a bane’ 1 yr after EODB law’s OK O By Elijah Felice E. Rosales

@alyasjah

NE year after President Duterte signed the Ease of Doing Business (EODB) law, the government still has a lot of work to do to cut red tape in the bureaucracy and make transactions easier, according to business executives.

Business leaders polled by the BusinessMirror said the EODB law has yet to make an impact on their operations because its implementing rules and regulations (IRR) are not yet promulgated. As far as transactions with the

government are concerned, they remain too burdensome. American Chamber of Commerce of the Philippines Senior Advisor John D. Forbes said little has changed in the way permits and licenses are granted, even with

the passage of a law intended to streamline them. “We have the impression that little has changed so far. Red tape continues to be a heavy burden on business and citizens at all levels of government,” Forbes

“In addition to reducing processing steps and time, it is critical to transition from manual to digital processing and payment. We also look forward to agencies using the regulatory impact assessment methodology to justify regulations.”—Forbes

said in a text message. He said the President urgently needs to appoint the director general of the Anti-Red Tape Authority, as the Arta chief has the sole authority to sign and issue the IRR. See “Red tape,” A2

See “DOE awaits ERC,” A2

I.M.D. COMPETITIVENESS RANKING: PHL CLIMBS 4 NOTCHES TO 46TH SLOT

HE Philippines climbed four notches to 46th among 63 economies in the IMD World Competitiveness Ranking 2019 on improvements in economic performance, government and business efficiency and infrastructure buildup. In the 2019 cycle of the IMD World Competitiveness Ranking, the Philippines jumped to 46th, from 50th in the 2018 edition. However, when pitted against regional neighbors, the country placed 13th among 14 Asia-Pacific economies included in the study. The rise was a result of the Philippines posting growth in all four indicators measured by the report, namely, economic performance, government efficiency, business efficiency and infrastructure. Manila jumped the highest in economic performance to 38th, from 50th last year, on better do-

LNG TERMINAL Energy and local officials, joined by lawmakers, drop the time capsule during the First Gen Batangas Liquefied Natural Gas Terminal

groundbreaking in Santa Rita, Batangas City, on Tuesday. The LNG project will help ensure supply of cost-competitive, flexible and low-carbon fuel for gasfired power plants in the Philippines. Leading the capsule drop are (from left) Batangas Rep. Mario Vittorio Mariño, House Energy Committee Chairman Lord Allan Jay Velasco, First Gen Corp. President and COO Giles Puno, Energy Secretary Alfonso Cusi, First Gen Chairman and CEO Federico Lopez, Senate Energy Committee Head Sherwin Gatchalian and Batangas Gov. Hermilando Mandanas. Story in Companies, page B1. ROY DOMINGO

PESO EXCHANGE RATES n US 52.1530

mestic economy, foreign investment and employment. However, the country got lower rankings in international trade and price stability. Business efficiency went up six notches to 32nd on higher rankings in labor market and attitudes and values, while retaining its previous standing in finance and management practices. In government efficiency on improved fiscal policy, business legislation and societal framework, the Philippines moved to 41st, from 44th in the previous cycle. However, contractions were recorded in the country’s public finance and institutional framework. The Philippines scored its lowest indicator in infrastructure. It only outdid its 2018 ranking by one notch to 59th. See “IMD Competitiveness,” A2

Inflation seen to have hit 2-percent territory in May @BcuaresmaBM

NERGY regulators are keen on fulfilling their mandate to institutionalize the Competitive Selection Process (CSP) for power supply contracts—as a recent Supreme Court ruling reminded them—and are holding meetings on the matter, a Department of Energy (DOE) official said. Energy Assistant Secretary Redentor Delola said the DOE is waiting for the Energy Regulatory Commission (ERC) to send a list of power supply contracts that need to undergo the CSP as ordered by the high court.

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DOE awaits ERC list of power supply deals requiring CSP

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HE growth of consumer prices likely decelerated back to the 2-percent territory in May, marking its slowest rate in almost two years, a private economist said on Tuesday. Security Bank Corp. economist Robert Dan Roces said inflation likely hit 2.8 percent in May this year, potentially marking the lowest growth of consumer prices since September 2017. “This supports our view that inflation is likely to fall back further. We have been mentioning in the past the upside risk from higher oil prices, but this month’s price averages for West Texas and Brent have decreased from last month’s mean,” Roces said. “Food inflation has also continued to fall. The BSP has raised concerns about the effect of El Niño on food prices; yet despite minor disruptions, El Niño has not affected retail rice prices which have dropped to around 65 centavos same week last month,” he added.

The economist also put into account the effects of the recent rice tariffication law on food prices as it boosts imports of rice and ensures stable supply. In their last monetary-policy meeting, BSP Deputy Governor Diwa Guinigundo said inflation is projected to fall further than earlier expected for this year. Their forecast now stands at 2.9 percent from the earlier 3-percent projection about two months ago. The deputy governor said the reduction in their inflation forecast was based on the lower actual monthly inflation in the first four months of 2019, the lower growth for the year, lower cash supply growth as well as the lower global growth for the year. For next year, however, their inflation projection was scaled upward to 3.1 percent from the earlier 3-percent forecast—which Guinigundo attributed to increases in global oil prices and adjustments in jeepney fares. See “Inflation seen to,” A2

n JAPAN 0.4763 n UK 66.1300 n HK 6.6446 n CHINA 7.5612 n SINGAPORE 37.9295 n AUSTRALIA 36.0742 n EU 58.4166 n SAUDI ARABIA 13.9086

Source: BSP (28 May 2019 )

A2 Wednesday, May 29, 2019

News

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3 House panels approve dedicated hospital for OFW

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE House Committee on Ways and Means on Tuesday approved a bill sponsored by Speaker Gloria Macapagal-Arroyo creating a dedicated hospital for overseas Filipino workers (OFWs) and ensuring annual funding for its operations. This is now the third committee level that the bill hurdled in just two days. The same measure was approved by House Committees on Health and Appropriations last Monday. House Bill 9194 seeks to create a hospital that will “promote the OFWs’ wellbeing in recognition of their importance and contribution to economic development and nation-building.” “Despite improvements in occupational health and safety worldwide, OFWs suffer from a growing list of physical and mental-health problems due to

risks associated with the nature of their employments…The country needs to do more, especially in paving better access, and in providing higher quality of health care,” Arroyo said during the hearing on Tuesday. Under the bill, the hospital would have at least tertiary level of care and would be developed consistent with the health-care needs of the OFWs and their dependents. The hospital will serve as the primary referral hospital for repatriated OFWs needing medical assistance and support.

IMD Competitiveness. . .

Continued from A1

Under infrastructure, the country got slightly better rankings in technological infrastructure, scientific infrastructure and education. On the other hand, it retained its standing in basic infrastructure and received worse in health and environment.

According to the survey, competitiveness challenges this year for the Philippines are “the need to speed up and sustain investments in physical infrastructure,” as well as “inadequate investment in human capital.” It also flagged Manila’s poor digital

Inflation seen to. . .

Red tape. . .

Continued from A1

As inflation continues to fall, the BSP decided to start easing their monetarypolicy stance starting with their May 9 meeting. In particular, a 25-basis-point cut to their overnight reverse repurchase was made at the May 9 meeting, effective Friday, May 10—as broadly called for by markets. The interest rates on the overnight lending and deposit facilities were reduced accordingly. The lower inflation also provided scope for the BSP to cut its reserve requirement ratios (RRR) down by 200 basis points. The implementation of the cut will be in three stages: the first 100-basis-point cut will be effective May 31; another 50basis-point cut will be implemented June 28; and the last 50-basis-point cut will be effective July 26. The RRR is one of BSP’s monetary tools. It is the portion of depositors’ balances that banks are asked to keep idle in the BSP’s vaults as reserves. Even at 16 percent, the Philippines still has one of the highest RRRs in the region. This means that a significant chunk of the bank’s funds are kept in the BSP’s coffers instead of being lent out to fuel economic growth.

DOE awaits ERC. . . Continued from A1

The ERC is in the best position to determine which power supply agreements (PSAs) entered into between a power supplier and distributor are covered by the SC ruling. “As to which contracts are invalidated or terminated because of the decision, it is the ERC that knows that, not the DOE,” said Delola. Delola said Energy Secretary Alfonso Cusi and ERC Chairman Agnes Devanadera have already discussed the matter and another meeting is scheduled soon. Once the list is turned over to the DOE, Delola said the agency will inform the concerned parties that they have to undergo CSP immediately. “We’ll have to make the list public so that everybody will know which PSAs are affected,” added Delola. The SC earlier ruled that “all PSA

The Department of Health (DOH) shall oversee the administrative and technical supervision of the OFW hospital. The DOH is tasked to include in its annual budget proposal the funding requirements for the operation of the OFW hospital. The OFW hospital will also participate in providing health-care coverage in relation to the implementation of the Universal Health Care Act. In addition, the Department of Labor and Employment (DOLE)-OWWA shall also be tasked to strengthen its existing health-care benefits and medical assistance programs to provide subsidies to the hospital for qualified OFWs and legal-dependent patients. The construction for the P400-million OFW hospital in Pampanga started on May 1 with Arroyo and Labor Secretary Silvestre Bello III leading the groundbreaking ceremony. The construction cost for the healthcare facility is free as it is shouldered by Bloomberry Cultural Foundation Inc. The hospital is being built on land donated by Pampanga Gov. Lilia Pineda.

innovation and readiness for products of the future and the need to sustain investor and consumer confidence. Moreover, the report cited persistent political risks in the country, which could take a toll on its competitiveness. Elijah Felice E. Rosales

Continued from A1

Further, Forbes proposed that state agencies implement steps on their own that will reduce transaction time. This should include, among others, the transition to digital from manual processing and payment. “However, we expect this to improve soon after the President appoints the Arta director general and issues the final IRR,” Forbes said. “In addition to reducing processing steps and time, it is critical to transition from manual to digital processing and payment. We also look forward to agencies using the regulatory impact assessment methodology to justify regulations,” he added. Philippine Chamber of Commerce and Industry President Maria Alegria SibalLimjoco said the business group has yet to assess the impact—if there is any—of the EODB law, but took note of the law’s lacking of an IRR. European firms, on the other hand, are optimistic that doing business in the Philippines will improve over time. They said they appreciate efforts initiated by the Department of Trade and Industry (DTI) and the Arta in trying to streamline government procedures.

Dialogue with Arta

EUROPEAN Chamber of Commerce of the

Philippines Executive Director Florian Gottein said the group attended the private sector dialogue last Friday with the Arta. During the dialogue, anti-red tape authorities discussed with private sector representatives collaborative measures on improving doing business in the country. Gottein said European firms “see great value in this, and urge the government to expedite getting the Arta and the EODB law fully operational and implemented.” “While we are aware that red tape is still a struggle for companies who are doing business in the Philippines, we also recognize the willingness of the DTI and the Arta to make government transactions for business easier and faster in the country,” Gottein said in a text message. Duterte in May signed the EODB law that is aimed at cutting bureaucratic red tape and streamlining government transactions. Hopes to improve the country’s rating in competitiveness surveys, such as in the annual World Bank’s Doing Business report—wherein Manila fell to 124th among 190 economies in the 2019 cycle—are also pinned on the EODB law’s implementation. The law will reduce transaction time for obtaining permits and licenses to three working days for simple procedures; seven working days for complex ones; and 20 working days for the highly technical.

Continued from A1

applications submitted by distribution utilities [DUs] to the ERC on or after 30 June 2015 shall comply with the CSP in accordance with the 2018 DOE Circular [DC2018-02-0003] and its Annex ‘A.’” Cusi said that in consonance with the DOE’s mandate, his office has been consistently formulating policies, programs, rules, and regulations toward this end. He said the SC ruling affirms the agency’s long-standing conviction on the fundamental role of the CSP as a mechanism to ensure transparency and fair competition in the procurement of power supply. It was designed to protect the consuming public from power rate spikes, pass-on charges and avert predatory practices. “The highest court of the land has unequivocally spoken. Thus, in adherence to the SC’s judgment, we call for the exigent conduct of CSP for the PSAs of DUs, which include electric

cooperatives and private corporations like Meralco. Power development in our country, particularly in Luzon, has been at a standstill for three years. We can no longer afford any further delay. We need to act now with extreme urgency to make up for the lost time,” said Cusi. As indicated in the 2018 DOE CSP circular, the DOE will closely oversee the competitive bidding process to guarantee that the exercise is conducted in an open, transparent, effective, efficient and equitable manner. For its part, the ERC will work alongside the DOE by enforcing and implementing the relevant policies formulated, as well as all pertinent rules and regulations issued by the DOE. However, should the process grossly fail, the DOE said it will not hesitate to enact all necessary measures to uphold the integrity and completion of the CSP. Lenie Lectura

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39 KILOS OF COCAINE BLOCKS RECOVERED IN SORSOGON WATERS

BOUT 39 kilos of cocaine worth at least P218.4 million were recovered on Monday in the waters of Sorsogon, reports reaching Camp Crame said on Tuesday. The illegal drug, stuffed inside 12 boxes, was fished out in the waters of Barangay Bagacay, Gubat, Sorsogon, at around 2 p.m., the report added. The Gubat Municipal Police Station said the barangay chairman of Bagacay first reported about the boxes that were recovered by three fishermen in the coastal area of the barangay. The fishermen were identified as Melvin Gregorio, Loubert Ergina and John Mark Nabong. Acting on the report, policemen proceeded to the barangay and found nine small boxes and three big boxes containing “chemical substance” that were loaded in a motorized banca. The boxes were later turned over to the Sorsogon Philippine National Police (PNP) Crime Laboratory for further analysis and examination wherein it was ascertained that the substance in all the boxes was cocaine. “The recovery of the items with the help of the members of the community is once again a reaffirmation of the solid partnership of the police and the public,” the

Bicol PNP said. “The PNP Bicol vows to continue doing its part to ward off any illegal activities and ensure the safety and welfare of the people it serves and protect,” it added. Meanwhile, the PNP has downgraded its alert status from full alert to normal nationwide except in Mindanao due to the ongoing implementation of martial law. PNP chief Director General Oscar Albayalde said directors of the Police Regional Offices 1 up to 8, Cordillera and the National Capital Region Police Office were given the discretion to raise alert level if they deem it necessary. “Our police force will continue to be aggressive and intelligencedriven against criminal gangs, terrorists and lawless elements as we intensify our focused police operations to address threats and violence,” Albayalde said. At the same time, the PNP will field a total of 120,000 personnel in preparation for the security and safety plans as schools reopen on Monday. “Along these efforts, we set our plans with enough number of police force to be deployed to launch mobile and foot patrols along major routes and highways for the 2019 Balik Eskwela leading to all schools and other learning institutions,” Albayalde said. Rene Acosta

Editor: Vittorio V. Vitug • Wednesday, May 29, 2019 A3

PHL officially occupies remote northernmost island of Mavulis

By Rene Acosta

@reneacostaBM

HE military has turned over to local officials the fishermen’s shelter it has built with other stakeholders in the country’s northernmost island of Mavulis in Itbayat, thus, assuring the regular presence of Filipinos in the area. In the past, it had also been a traditional fishing ground of poaching Chinese, Vietnamese and Taiwanese fishermen. The shelter was turned over on Monday by defense and military officials led by Lt. Gen. Emmanuel Salamat, commander of the Armed Forces Northern Luzon Command (Nolcom), to both provincial and town officials of Batanes. The shelter was complemented by a fish dryer facility. The construction of the shelter was part of the effort of the military to establish the country’s presence in Mavulis, following

the regular presence of fishermen from the country’s neighbors in the rich fishing ground during the past years that were unchecked. The military has also recognized Mavulis out of its strategic importance to the country’s defense, given China’s presence in some parts of the country’s territory in the West Philippine Sea. In the past, the government has tried to bring in people to Mavulis in its effort to physically occupy

the island, but it failed due to the lack of facilities, even for Batanes fishermen who conduct their activities in the island. The construction of the “multipurpose” shelter that began on March 23, 2018, was taken in what the Nolcom said was “to optimize our maritime entitlements within our country’s sovereign territory and promote safety of life at sea in the northernmost areas of the country.” The activity was taken in coordination with officials of Batanes and other stakeholders. “All these projects will be properly turned over to the Batanes LGU [local government unit] for administration, upkeep and maintenance to ensure their sustainability for continuous utilization for the benefit of the Filipino fisherfolks plying that area,” said Nolcom Spokesman Maj. Ericson Bulosan. During the turnover ceremony, Salamat thanked local officials and other individuals and groups who have contributed to the putting up of the shelter and the dryer in Mavulis. “I would like to recognize and extend our heartfelt thanks to the local government and community of Batanes, as well as our partners and other stakeholders

for their significant contribution in making this project a reality that would greatly benefit our fishermen, as well as provide maritime protection for our internal waters,” Salamat said. “I know it was a difficult task to execute, but with the collaborative efforts of everyone, we were able to achieve another significant milestone for our country and the Filipino people,” he added. Salamat assured that the Nolcom will continuously enhance its interoperability and inter-agency cooperation in its effort to guarding the country’s territory in the north. “In so doing, our country’s sovereignty and territorial integrity in the northern frontier will always be protected and maintained,” he said. In the past, Filipino fishermen complained that they are not only being threatened by poachers from the country’s neighbors in Mavulis, but also by the presence of their big fishing vessels that are dwarfing their smaller seacraft. The absence of the government, or even by soldiers in the island, allowed the almost unimpeded presence of foreign fishermen in the area.

BI agents, cops nab suspected Expert to DOH: Don’t ignore evidence on e-cigarettes American pedophile at Naia A

By Joel R. San Juan

@jrsanjuan1573

SUSPECTED American pedophile was arrested by immigration and police authorities during an entrapment operation at the Ninoy Aquino International Airport (Naia) on Monday. Bureau of Immigration (BI) Port Operations Division Chief Grifton Medina identified the suspect as 43-year-old Piotr Kmita. Kmita was arrested in an entrapment operation minutes after he arrived at the Naia Terminal 1 via a China Eastern Airlines flight from Pudong, China, while about to meet his wouldbe victim who is a female minor. Prior to his arrest, agents from the US government’s Homeland Security Investigation (HSI) sought the assistance of BI in monitoring the American, after he was discovered to have engaged in sexually explicit conversations with his young victim that he befriended online through Facebook. “The HSI then relayed the information to the PNP [Philippine National Police] regional office in Pampanga, and we jointly conducted the operations to intercept Kmita upon his arrival in Manila,” Bienvenido Castillo, who heads the BI-Naia’s Border Control and Intelligence Unit (BCIU), said. Castillo reported that the arresting agents tailed Kmita from the moment he arrived up to the area outside the airport where he met his victim where he was also arrested. Medina said Kmita would be charged for violating Republic Act 10364, or the expanded anti-trafficking in persons act, which penalizes

Thanks to the vigilance and cooperation of our lawenforcement agencies, as well as to the HSI for giving us information that led to this pedophile’s arrest”—Morente

the act of “procuring a child for prostitution and obtaining a person for the purpose of prostitution, pornography or sexual exploitation.” Kmita has been turned over to the custody of the PNP’s Women and Children Protection Center (WCPC) in Pampanga where the rescued girl hails. BI Commissioner Jaime Morente said Kmita’s presence in the country poses a serious threat to women and children. “Thanks to the vigilance and cooperation of our law-enforcement agencies, as well as to the HSI for giving us information that led to this pedophile’s arrest,” Morente said. The BI chief, however, said Kmita’s deportation will have to wait until the criminal charges against him are resolved. If he is convicted, Kmita will have to serve his sentence first before he could be sent back to the US, Morente said. With Recto Mercene

N expert on tobacco harm reduction urged the Department of Health (DOH) to stop ignoring the growing body of evidence supporting e-cigarettes as a significantly less harmful alternative to conventional cigarettes and viable smoking cessation aid. “No one has the right to ignore scientific evidence. Anyone can have an opinion, but scientific evidence is objective—it’s not opinion,” said Dr. Konstantinos E. Farsalinos during the 1st Philippine Harm Reduction Forum held on May 23 at the Holiday Inn & Suites in Makati City. Farsalinos is a research fellow at the Onassis Cardiac Surgery Center, University of Patras, and National School of Public Health in Greece. He has been conducting research on e-cigarettes as principal investigator since 2011. His research findings were among the references used by the European Union in drafting the EU regulatory framework on e-cigarettes. “The DOH may have had a valid argument five years ago when there was limited evidence on the safety and efficacy of e-cigarettes,” Farsalinos explained. “But since 2015 and especially in 2018, many respected health organizations and research institutes have released official reports stating their evidencebased conclusions and recommendations on e-cigarettes.”

Experts support tobacco harm reduction

A 2015 review by Public Health Eng-

land and a 2016 report by the Royal College of Physicians both concluded that e-cigarettes are at least 95 percent less harmful than smoking and that e-cigarettes may be contributing to falling smoking rates among adults and young people in the UK. Composed mostly of scientists, researchers and public health professionals, PHE is an operationally autonomous executive agency of the UK Department of Health. The RCP is the leading professional membership body for physicians in the UK and internationally. A 2018 review by the US National Academies of Sciences, Engineering, and Medicine concluded that, “compared to combustible tobacco cigarettes, e-cigarettes contain fewer toxicants; can deliver nicotine in a similar manner and might be useful as a cessation aid in smokers who use e-cigarettes exclusively.” In its 2018 position statement on e-cigarettes, the American Cancer Society concluded that, “Based on currently available evidence, using current generation e-cigarettes is less harmful than smoking cigarettes.” The ACS also stated that despite firm doctor’s advice some smokers will not attempt to quit smoking cigarettes and will not use Food and Drug Administration (FDA) approved smoking cessation medications, and “switching to the exclusive use of e-cigarettes is preferable to continuing to smoke combustible [tobacco] products.” According to Farsalinos, quitting without any smoking cessation aid (“quit-

ting cold turkey”) only has a 5-percent success rate. At least 8 out of 10 smokers fail to quit with currently approved smoking cessation methods such as nicotine replacement therapy; moreover, many smokers do not want to take medications. “If you are to believe the WHO, smokers have only two choices: quit or die. Tobacco harm reduction offers a third option: switch to a less harmful alternative such as e-cigarettes.” Farsalinos cited a 2014 position statement from the American Heart Association which recommended that, “If a patient has failed initial treatment, has been intolerant to or refuses to use conventional smoking cessation medication, and wishes to use e-cigarettes to aid quitting, it is reasonable to support the attempt.”

‘Nicotine not the problem’

FARSALINOS underscored the distinction between the great risk posed by smoking and the low health risks of nicotine. He quoted Prof. Michael Russell who said, “People smoke for nicotine but die from the tar.” In January 2018, the US FDA released its Strategic Policy Roadmap, which declared that, “nicotine…is not directly responsible for the cancer, lung disease and heart disease that kill hundreds of thousands of Americans each year. It is the other chemical compounds in tobacco, and in the smoke created by setting tobacco on fire, that directly and primarily cause the illness and death —not the nicotine.”

NAPC-Pagcor agreement may lift COA red flag on ₧49-M anti-poverty fund–Felongco By Bernadette D. Nicolas @BNicolasBM

HE National Anti-Poverty Commission (NAPC) assured the public on Tuesday that it is looking forward to signing a new memorandum of agreement (MOA) with the Philippine Amusement and Gaming Corp. (Pagcor) to finally tap P49-million unused fund flagged by the Commission on Audit (COA). NA PC Sec ret a r y a nd L ead Convener Noel K. Felongco clarified that NAPC has made efforts to engage with Pagcor starting February this year to fully utilize the remaining fund that has lapsed in 2017, or during the term of former NAPC Secretary Liza Maza. Felongco was appointed to the

post by President Duterte last November 2018. “This is because NAPC strongly believes that this could have been a great help to the poverty-stricken Filipinos as the fund is intended for noble and sensible poverty alleviation projects. This was long before COA released its 2018 report,” read the statement issued by Felongco. Felongco also confirmed that less than a year after NAPC received the grant from Pagcor, Ma za issued a memora ndum order directing the temporary stop of further disbursements involving transactions chargeable against the Pagcor funds effective December 2017 as directed by Pagcor itself. Felongco also said his agency was also able to submit a letter on Mon-

day, May 27, to Pagcor Chairman and Chief Executive Officer Andrea Domingo about the MOA. “We have clearly stated in the letter that the project implementation did not push through due to the disbursement suspension issued by Pagcor on the remaining funds. Our office will provide Pagcor with the revised copy of the draft MOA for her final review with the attached letter from the Executive Secretary to the DBM [Department of Budget and Management] and the subsequent letter of advice of NCA [notice of cash allocation] issued by the DBM,” read the statement. Moreover, Felongco said that they were also able to meet with Pagcor’s legal team last week and they have come up with a resolution that they will be drafting

a new memorandum to lift the disbursement suspension Pagcor issued for the unutilized fund intended for particular programs and projects. The unutilized fund, Felongco said, was intended to improve access to free and quality education in Mindanao; sustain livelihood projects through rice milling and marketing facilities in Luzon and Mindanao; implement the integrated coconut livelihood enterprise development in Visayas, roll out the “Talambayan” open data solution for poverty monitoring, which includes data warehousing, upgrading and maintenance of information database. Last February, NAPC under the helm of Felongco, first sought assistance from Executive Secretary Salvador Medialdea for the

immediate release of the funds after the agency complied with the requirement provided under the Executive Order 338, Series of 1996 and Joint Circular 1-97 of COA, DBM and the Department of Finance. Last March, Medialdea gave NAPC a copy of the letter addressed to DBM Officer in Charge Janet B. Abuel referring NAPC’s request for the immediate release of the unused fund, which was then currently deposited with the Bureau of the Treasury (BTr). NAPC then submitted a letter to Abuel requesting for the release of notice of cash allocation and deposit to the agency’s LandBank MDS (Modified Disbursement System) Trust Account together with the certificate from BTr, proof of receipt of trust or

official receipt and the monthly disbursement program for fiscal year 2019. On April 22, Abuel advised NAPC that DBM has already issued a notice of allocation for the untapped fund to cover trust receipts for the implementation of socioeconomic programs and projects. In its 2018 audit report, the COA said there was no information on the result of audit of Pagcor nor any instruction as to whether the proposed programs would be continued. COA also said in the same report that it has agreed with NAPC to make representations with Pagcor and request the possible extension of the validity of MOA and if Pagcor denies the request, direct the accountant to return the unutilized amount.

A4 Wednesday, May 29, 2019 • Editor: Vittorio V. Vitug

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Manila Water vows 24-hour water-supply service to all customers in next 2 months

By Jasper Emmanuel Y. Arcalas

@jearcalas

By Rea Cu

HE Manila Water Co. Inc. said on Tuesday that it is now providing 24-hour water supply to over 90 percent of its clients after it slashed its supply deficit to 39 million liters per day (MLD). However, resumption of full service coverage may not happen soon and could take a “couple” of months, according to the company’s spokesman. Manila Water group head for Corporate Strategic Affairs Jeric T. Sevilla said the reduction in deficit was attributed to higher supply augmentation sourced from the company’s Cardona Water treatment plant, deep wells, and cross-border supply from Maynilad Water Services Inc. “We are still working very hard to achieve our 24-hour [service] for all our customers. This is contingent or dependent to several factors,” Sevilla told reporters in an interview after a House committee hearing on Metro Manila water crisis on Tuesday. “I think full 24-hour coverage will not happen now. But we are working so hard so maybe we will be able to fill [the remaining deficit] in the next couple of months,” Sevilla added.

Manila Water has a supply deficit to its Metro Manila constituents of about 150 MLD as total demand is pegged at 1,750 MLD, while the company’s total supply is only at 1,500 MLD. Sevilla said they are now getting an additional supply of about 50 to 57 MLD from its Cardona Water Treatment Plant and around 35 to 36 MLD from its deep wells. Furthermore, Manila Water is now receiving 19 MLD out of the 50 MLD committed cross-border supply by Maynilad. “So as long as we’re getting this amount from Cardona and we hit additional supplies from deep wells... and we’re still waiting for the additional cross border coming from Maynilad...hopefully, maybe in the coming months [we will resume 24hour service to all customers],” he said. Manila Water President and CEO Ferdinand M. de la Cruz disclosed that

ATTY. Patrick Lester N. Ty (from left), chief regulator of the Metropolitan Waterworks and Sewerage System’s Regulatory Office; Randy Estrellado, chief operating officer of Maynilad Water Services Inc.; and Ferdinand M. de la Cruz, president and CEO of Manila Water Co., huddle during the Joint Hearing of Committee on Government Enterprises and Privatization and Committee on Public Works and Highways at the House of Representatives. NONOY LACZA

the 99.95 percent of its clients now have water supply for eight hours everyday, while 20-hour coverage have reached service level of 92 percent. “Our average hours of service now is at 23 hours. What is left, given...the supply deficit of about 39 million liters per day, are those in the fringes of our concessions in the high areas and farthest part of the network,” de la Cruz said during the the joint hearing of the House Committees on Government Enterprises with the Committee on Public

Works and Highways. During the hearing, the two House of Representatives committees approved a resolution authored by House Speaker Gloria Macapagal-Arroyo to create a public-private technical working group (TWG) to come up and fasttrack measure that would avert water crises in the future. The TWG would be comprised of the Metropolitan Waterworks and Sewerage System, National Water Resources Board, Local Water Utilities Administration, Department of Agriculture,

National Irrigation Administration, Manila Water and Maynilad. The two committees also approved another resolution, also authored by the Speaker, that would create a master plan on Metro Manila’s water-supply security and sustain the requirement for household, commercial, and industrial uses in the area. The master plan would also be duplicated in other parts of the country if needed. The TWG would be tasked to undertake the crafting of the master plan.

Cynthia Villar and Manny Pacquiao retain lead as richest senators in 2018 By Butch Fernandez

@butchfBM

ILLIONAIRE Sens. Cynthia Villar and Emmanuel Pacquiao emerged on top of the list of the Senate “Millionaires Club,” based on

HMO industry income jumped 63% to P1.65B in 2018–IC chief

a summary of their 2018 Statement of Assets, Liabilities and Net Worth (SALN) as of December 31. Villar declared P3,719,941,858 total assets with no liabilities, while Pacquiao declared assets amounting to P3,151,813,728 and li-

abilities totaling P146,005,728 for a net worth amounting to P3,005,808,000. Detained Sen. Leila M. de Lima emerged as the “poorest” member of the Senate Millionaires Club declaring P9,278,739.45 in assets, P1,572,347 li-

abilities for a net worth totaling P7,706,392.45. Senate President Vicente C. Sotto III’s SALN showed P129,051,804.30 in assets, P58,931,104 in liabilities for net worth amounting to P70,120,700.30. Senate President Pro Tempore Ralph G. Recto reported assets totaling P645,147,569.36 with liabilities at P89,823,089.54, with net worth at P555,324,479.82. Senate Majority Leader Juan Miguel Zubiri listed P316,171,328.67 assets, P133,319,758.33 in liabilities and P182,851,570.34 in net worth. Senate Minority Leader Franklin M. Drilon declared P125,964,398 assets, P28,237,640 liabilities, with net worth at P97,726,758. Sen. Juan Edgardo Angara’s assets added up to P147,830,710, P11,999,000 in liabilities with net worth at P135,840,710. Sen. Paolo Benigno Aquino IV listed assets at P47,901,749.25, liabilities at P2,696,611, and net worth at P45,205,138.25. For her part, Sen. Maria Lourdes “Nancy” Binay declared assets amounting to P123,945,414, liabilities at P63,812,953 and net worth at P60,132,461.10. Sen. Joseph Victor Ejercito declared P234,347,415.66 in total assets, P101,527,069.93 liabilities and net worth amounting to P132,820,345.73. Sen. Francis Escudero’s declared assets add up to P15,575,228, liabilities at P5,000,000 and P10,575,228 net worth. Sen. Sherwin T. Gatchalian reported his total assets at P96,210,607.14 with no liabilities. Sen. Richard J. Gordon listed P74,285,178.56 in assets, P3,000,000 liabilities, and total net worth at P71,285,178.56. Sen. Gregorio Honasan declared P25,882,099 total assets, with no liabilities. Sen. Risa Hontiveros declared P15,776,787.04 assets and P149,611 liabilities, and her total net worth at P15,627,176.04. Sen. Panfilo Lacson listed P42,903,141 assets, P460,800 liabilities and P42,442,341 total net worth. Sen. Loren Legarda reported P77,815,602.11 in assets, P21,525,000 liabilities and net worth at P56,290,602.11. Sen. Francis Pangilinan declared total assets at P18,848,984.17 and liabilities amounting to P2,153,936 and net worth at P16,695,048.17. Sen. Aquilino Martin Pimentel III listed his assets at P28,662,212 with no liabilities. Sen. Grace Poe reported P125,787,621.54 assets, P32,747,700 liabilities and total net worth at P93,039,921.54. Sen. Antonio Trillanes IV declared assets amounting to P15,909,800, liabilities at P8,376,787.90 for total P7,533,012.10 net worth. Sen. Joel Villanueva listed P54,421,555 in assets, P27,500,000 liabilities and total net worth at P26,921,555.

@ReaCuBM

HE local Health Maintenance Organization (HMO) industry composed of 29 major players has reported total net income P1.65 billion for 2018, representing a 63-percent jump compared to the P1.01 billion recorded in 2017, according to the Insurance Commission (IC). In a news statement issued on Tuesday, Insurance Commissioner Dennis B. Funa attributed the growth to the increase in revenues for the year primarily from the payment of membership fees. T h e I C p o i nt e d o u t t h a t Medicard Philippines Inc. reported the highest net income amounting to P706.31 million for the year. Total revenue generated by the industry also posted a growth of 15 percent for the year amounting to P45.30 billion coming from P39.32 billion in 2017. In terms of revenue, Maxicare HealthCare Corp. (Maxicare) took the lead with a reported revenue of P14.18 billion. Funa explained that 96 percent, or P43.57 billion of the total revenues of the HMO industry, were generated from fees paid by its members in exchange for the assumption of the risk funding members’ health-care services and related administrative costs. The HMO industr y, likewise, recorded a n i nc rea se i n t he tota l membership fees paid in 2018 amounting to a tota l of P43.502 bil lion. “The total membership fees paid in 2018 is 14 percent higher than the P38.16 billion membership fees collected in 2017,” Funa said. With a market share of 32 percent, Maxicare reported the highest membership fees collected in the amount of P13.84 billion. In terms of assets, this amounted to P38.96 billion for 2018, up by 18 percent from P32.91 billion recorded in 2017. Maxicare also took the top spot in terms of assets with reported assets amounting to P9.89 billion for the year. Meanwhile, the IC said that it is currently finalizing the Standard Chart of Account (SCA) for HMOs which will serve as the financial reporting framework for HMO to ensure transparency in their financial conditions and the consistent application of existing regulations. Funa pointed out that the SCA will also provide a logical framework in the determination of the allocation and use of funds of HMOs in compliance with the rules and regulations promulgated by the IC. Furthermore, he said that the IC will also be implementing additional reporting requirements for HMO companies, with the additional data being valuable in terms of understanding the role of HMOs and their effect on the market for health ser vices. “In order for the Commission to have a complete picture of the HMO industr y, HMO companies are now required to submit comparable data relating to enrollment of members. Specifically, HMOs are now required to provide data on the number of clients, policies, members, pr i nc ipa l s a nd de pendent s,” he added. Funa also mentioned that the IC is currently drafting a regulation which seeks to require HMOs to establish and maintain a claims register which shall contain details of all claims made under HMO contracts.

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North Korea calls Bolton ‘war monger’ over missile comment K

Editor: Angel R. Calso • Wednesday, May 29, 2019 A5

Knife-wielding man attacks schoolgirls in Japan, killing 2

EOUL, South Korea—North Korea on Monday called US National Security Adviser John Bolton a “war monger” and “human defect” after he described its recent tests of shortrange missiles as a violation of UN Security Council resolutions. The statement by an unidentified North Korean Foreign Ministry spokesman came as President Donald Trump visited Japan for meetings with Prime Minister Shinzo Abe at which the nuclear standoff with North Korea was expected to be high on the agenda. Bolton told reporters in Tokyo on Saturday that there was “no doubt” that North Korea’s recent missile launches violated UN resolutions, and that sanctions against the North must be kept in place. Trump later downplayed the missile tests, tweeting, “North Korea fired off some small weapons, which disturbed some of my people, and others, but not me.” North Korea tested short-range ballistic missiles on May 4 and 9, ending a pause in launches that began in late 2017. The tests were seen

as a way for North Korea to pressure Washington to soften its stance on easing sanctions against it without actually causing negotiations to collapse. In the statement carried by the North’s Korean Central News Agency, the North Korean spokesman said the North was exercising its right of self-defense with the launches. North Korea has never recognized the UN Security Council resolutions, which it views as denying its “rights to existence and development of a sovereign state,” the statement said. “If any object is launched, it is bound to fly in trajectory,” the statement said. It said a demand that North Korea ban all launches that use ballistic technology regardless of the range is the same as asking it to relinquish its right to self-defense. The spokesman said Bolton

was an “ignorant” hard-liner who, throughout different US administrations, pushed provocative policies against North Korea, including endorsements of preemptive strikes and regime change. The spokesman also said that Bolton’s “hammer act” was responsible for the collapse of a major nuclear deal between the countries reached in 1994, when North Korea agreed to halt its nuclear program in exchange for US fuel aid. The deal broke down in 2002 after US intelligence agencies said North Korea was continuing its pursuit of bombs with a secret uranium-enrichment program. “It will be fit to call Bolton not a security adviser striving for security but a security-destroying adviser who is wrecking peace and security,” the spokesman said. “It is not at all strange that perverse words always come out from the mouth of a structurally defective guy, and such a human defect deserves an earlier vanishing.” Experts say the weapons North Korea tested this month are new solid-fuel missiles that are potentially nuclear capable and would strengthen the North’s ability to strike targets throughout South Korea. South Korea has expressed concern that the launches may run against the spirit of an inter-Korean

military agreement reached last year to reduce tensions, but has been eager to downplay the significance of the tests as it tries to keep a positive atmosphere for dialogue alive. South Korea’s presidential office and military have refused to call the launches outright provocations, and have yet to confirm that the missiles were ballistic weapons, although most experts say they clearly were. “There’s no way for us to know why National Security Adviser Bolton made such comments,” said a South Korean presidential official, who asked not to be named during a background briefing of reporters on Monday. “There’s no change in our official stance that the South Korean and US militaries under coordination are continuing to analyze the missiles.” Negotiations between the US and North Korea have been at a standstill since February, when a summit between Trump and leader Kim Jong Un broke down over what the United States described as excessive North Korean demands for sanctions relief in exchange for only a partial surrender of its nuclear capabilities. Kim since then has said the United States has until the end of the year to come up with mutually acceptable terms for a deal to salvage the negotiations. AP

AWASAKI, Japan—A man carrying a knife in each hand and screaming “I will kill you!” attacked a group of schoolgirls and adults near a bus stop just outside Tokyo on Tuesday, killing two and injuring 16 before killing himself, officials said. Most of the victims were schoolgirls who were lined up at a bus stop near Noborito Park in the city of Kawasaki when a man in his 50s began slashing them with knives. City officials, quoting police, said that the suspect was captured but died from a self-inflicted cut to the neck. Police wouldn’t immediately confirm specifics about the attacker. Masami Arai, an official at the Kawasaki City office, said 16 people, most of them schoolgirls at a local Catholic school, were injured and three others, including the attacker, were believed killed. Arai said three of the injuries were serious and 13 others were not life-threatening. Kanagawa prefectural police only confirmed the death, of sixth-grade schoolgirl Hanako Kuribayashi, 11, from Tokyo. Hospital officials at a televised news conference confirmed the 11-year-old’s death as well as that of a man in his 30s, saying both of them had been slashed in the head, chest and face. Separately, doctors at Saint Marianna University School of Medicine, said a man in his 50s died at the hospital after being brought in from the crime scene with neck injuries. City officials and the media said

the man is the suspect. Most of the victims attended Caritas Gakuen, a well-known private school founded by Soeurs de la Charite de Quebec, an organization of Catholic nuns in Quebec City in Canada. All but two adult victims are in elementary school, according to city and hospital officials, and their ages are believed to be from 6 to 12. The school runs from elementary through high school. A witness told the Mainichi newspaper that he heard children shrieking after walking past a bus. He said that when he turned around, he saw a man wielding a knife in each hand, screaming “I will kill you!” and several children were on the ground. NHK, citing police, said that a bus driver told officials that a man holding a knife in each hand walked toward the bus and started slashing children, then the attacker ran away when the driver yelled at him, “What are you doing?” then cut himself. NHK also interviewed a witness who said he saw the suspect trying to force his way onto a bus. A third witness said he saw a school boy with scratches on his face, hands and legs, sitting on the ground of a parking lot, looking frightened. The attacker’s identity and motive weren’t immediately known. Television footage showed emergency workers giving first aid to people inside an orange tent set up on the street, and police and other officials carrying the injured to ambulances. AP

A6 Wednesday, May 29, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

‘Saving’ PHL’s agri sector

ARMERS and fishermen feed the entire country, yet they perennially remain poor. According to a report released by the Philippine Statistics Authority (PSA) in 2017, the poorest sectors in the Philippines are farmers, fishermen and children. Data collected by the PSA since 2006 showed that farmers and fishermen were consistently ranked the poorest among the country’s basic sectors. Poverty incidence among those who produce food for the country is even higher than the national rate of 21 percent. These figures indicate that there is little reason to celebrate Farmers’ and Fisherfolks’ Month, which we observe yearly in the month of May. While the incomes of farmers and fishermen have improved in recent years, the increase is not enough to lift them out of poverty. Until now, the government can’t seem to find the right formula that will improve productivity and hike income exponentially. The production growth rates of the agriculture sector attest to this. Proponents of Republic Act 11321, or the Sagip Saka (Save Agriculture) Act, hope that the new law will help government finally achieve its goal of improving the incomes of two of the Philippines’s poorest sectors. Signed by the President on April 17, the law was released to the public on May 27. The release of RA 11321 may have been timed to coincide with the country’s observance of the Farmers’ and Fisherfolks’ Month. The law seeks to help the agricultural and fishing communities “reach their full potential” and increase the incomes of farmers and fishermen by institutionalizing the farmers and fisherfolk enterprise development program. RA 11321 stresses the use of science-based technologies in identifying and prioritizing agricultural and fishery products that will be covered by the program. It prescribes the forms of assistance, as well as the fiscal incentives—such as exempting donors from paying donors taxes when making donations to accredited farmers’ organizations—to improve agricultural productivity. The Sagip Saka Act’s most salient provision is the exemption of both national government agencies and local governments from the Procurement Law when they buy farm goods directly from accredited farmers’ coops and organizations. This provision encourages the formation of more co-ops and guarantees a ready market for farmers and fishermen. This will also be good for the national and local governments, as they will no longer have to deal with unscrupulous traders and middlemen who wantonly jack up prices. We hope the Sagip Saka Act will not suffer the fate of other laws, such as the Agriculture and Fisheries Modernization Act of 1997 and the Agri-Agra law, which hardly made a dent in government’s goal of making farmers and fishermen competitive, at least in Southeast Asia. Some provisions of the AFMA, such as the setup of SAFDZs, are yet to be implemented. While RA 8435 prescribed the annual budget that should be set aside by the government to modernize the agriculture sector, this was not followed. The AgriAgra should have expanded farmers’ access to affordable credit from formal institutions, but millions of planters still continue to rely on loan sharks. Citing PSA data, Sen. Francis Pangilinan, the principal author of the measure, said agricultural workers earn only P280.37 a day. The amount is not even enough to allow them to eat three square meals a day, buy their basic needs, and send their children to school. One law will not lift them out of poverty overnight but if the Sagip Saka Act is implemented properly, it will boost government’s efforts to uplift local farmers and fishermen. We hope this law will truly make them benefit from the bounty of the land and the sea. Since 2005

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The new Senate Susan V. Ople

SCRIBBLES

GOT my first job after college as a researcher for Sen. Ernesto “Boy” Herrera. I earned around P3,000 a month, which, believe it or not, was a hefty sum during those days. But more than the salary, it was my good fortune to have a front-row seat to history. Back then, reporters took copious notes and enterprise stories were the name of the game. Senators weighed every word and came prepared for their privileged speeches and floor interpellations. We all learned a lot and came out of the old majestic Senate building in Manila with a remarkable sense of fulfillment. I wish the same for the employees of this new Senate. Public service can be an art form, if not in the sweeping rhetoric of the eloquent, at least in the physicality of senators stooping down to render life-changing services to the down and out. For example, I look forward to how as an incoming senator, the President’s closest aide, Sen. Bong Go, would transform his “Malasakit Centers” into viable and sustainable institutions. I am also interested to see Sen. Bato dela Rosa extend his basic goodness to the people around him by transforming his Senate office into a hub to help victims of grave injustice. Sen. Cynthia Villar, an icon in orange, has earned widespread popularity and trust because of her no-nonsense approach to legislation and its oversight function. In public hearings, the lady senator can easily stare down a bureaucrat who replies in half-truths and white lies, much

to the delight of her farming constituency. In the recent elections, knowing that she is very, very rich matters much less before everyone’s eyes because we all know her to be also very, very smart—as most selfmade successful entrepreneurs are. Her integrity and candor are much appreciated by both the media and the masa. Like her husband, Senate President Manny Villar, she shuns pomposity of any kind and prefers to open the doors to more livelihood opportunities for the poor rather than spend time with the pampered elite. A new modern Senate fits the current batch of senators because most of them are truly social media-savvy. Sen. Nancy Binay had recently published her own book about social media etiquette. Sen. Ping Lacson tweets several times a day with wit and humor. I love following Sen. Win Gatchalian on

Twitter because his dedication to work shows in his tweets about legislation and public policy. Of course, one can always converse with Sen. Koko Pimentel on Facebook. Koko has become such a romantic, and kudos to his wonderful wife for bringing this side of him out in the open. The Senate has become more accessible not just to media but to netizens who read Senate President Vicente “Tito Sen” Sotto’s tweets about major issues. I love “Tito Sen” because he is always direct to the point and, though supportive of the President, is not the type to yield the independence of an institution that both he and his grandfather grew to love. For a modernity boost, I hope that the Senate as an institution fully embraces all social-media platforms including Instagram and YouTube. Whoever heads the Senate’s public information office can arrange for students to tour the Senate, take “selfies” with the senators and post YouTube videos to share their experience. It is unfortunate that while our senators are quite adept at social media, the institution itself has not been as astute. Perhaps, Sens. Sonny Angara and my kababayan, Joel Villanueva, can help turn things around by making the Philippine Senate as tech-friendly and social mediafriendly as possible. It cannot be avoided that our present crop of senators have become celebrities in their own right, although some of them started out as celebrities before joining the Senate. Of course, there will be a great deal of pressure on the newcomers—from fashion to passion—and the sooner

they find their niche, the better. Sen. Imee Marcos would have to live up to people’s expectations as many of them still remember her brother Bongbong’s memorable performance in the Senate, and of course, her father’s long political shadow. Sen. Francis “Tol” Tolentino is expected to bring a sense of practicality with him given his previous roles as city mayor and MMDA chairman. Undoubtedly, there will always be that yearning to hear the patriotic interventions of Jovito Salonga, Ka Turing Tolentino, Miriam Defensor-Santiago and of course, my personal idol, Ka Blas Ople. Nevertheless, history is made in the present, and it is up to this new batch of senators to make their mark. The neophytes in the Senate must cherish every vote cast, while including in their thoughts, words and actions those who did not vote for them. Sens. Go, Tolentino and dela Rosa, who owe their victory to President Duterte’s vast reservoir of trust, must learn to shine on their own, and compete with more senior colleagues. The winning candidates of 2019 got what they wanted. Now, what we, the voters, want is to see them actually deliver on their promises. Who among our current crop of leaders have what it takes to level up in 2022 when the presidency becomes vacant? We look forward to such revelations soon. Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the Inter-Agency Council Against Trafficking.

Normandy tries to keep alive ‘infinite gratitude’ for D-Day

By Catherine Gaschka & Sylvie Corbet | Associated Press

AINTE-MERE-EGLISE, France—At 10 years old, Henri-Jean Renaud watched US paratroopers landing through the window of his Normandy home in the early hours of D-Day. Like other French who lived through the war, he’s trying to pass on to younger generations the gratitude he feels. With fewer veterans and witnesses able to share personal memories, the French who owe their freedom to D-Day’s fighters are more determined than ever to keep alive the memory of the battle and its significance. President Donald Trump and other world leaders will gather next week in Normandy to mark the 75th anniversary of the invasion, which still looms large throughout this region. Normandy beaches, cemeteries and World War II memorials embody what French President Macron called “our entire nation’s infinite gratitude.” Renaud, now 85, recalls the strange atmosphere in Sainte-Mere-Eglise, the first village liberated by the Allies, on the morning of June 6, 1944. He could hear the fighting at a short distance but in the village, everything was calm. “The civilians came down on the

pavement and tried to fraternize with the Americans by making victory signs, waving hello, etc. But there hasn’t been any fraternization from the Americans because—you have to put yourself in their shoes—they were very nervous, very anxious. They had their finger on the trigger,” Renaud said. Fraternization came later. All his life, Renaud has taken care of veterans, hosting them and helping them visit the former battlefields, “because nothing touched me more than seeing those guys who were coming back, searching for the place where they were dropped, the place where they lost a friend.” About 15,000 paratroopers landed in and around Sainte-Mere-Eglise not long after midnight on June 6, 1944, and seized it from the Germans by 4:30 a.m. An American flag was raised in front of

the town hall. “It was making a lot of noise and the planes were flying low,” recalled 97-yearold Albert Guégan, a French civilian survivor living in Carentan, a few kilometers away. “We were in a ditch near our house with the neighbors. We thought we would be hit by bombs. But no, it was not a bombing. It was the paratroopers!” More than 150,000 troops crossed the English Channel on D-Day, and more than 2 million Allied troops were in France by the end of August. Among them was Frank Mouqué, who landed on Sword Beach as a 19-year-old corporal with the British Royal Engineers. Now 94, he has returned to Normandy more than 30 times at the invitation of a French family. “It’s marvelous, the way we’re treated! They’re so pleased to welcome a veteran in that sense. You sit outside in the coffee shop, having early morning cup of coffee and people come up and shake your hand and say: ‘Merci, merci beaucoup. You are our savior!’” British veteran Jack Woods has also returned to Normandy many times. As soon as the bus stops, he walks down to the café near the cathedral in Bayeux, where the owner tells everyone to clear out to make room for his friends from

Britain. “They go mad,” the 95-year-old said of his reception, adding that they always have “a whale of a time.” Even amid the warmth, the trip is always a serious matter for him. He feels he has no choice. Woods fought with the 9th Royal Tank Regiment and got to France at the end of June 1944, a few weeks after DDay. But fighting was still intense, and many of the soldiers had never seen combat. “I promised them I would not forget them,” he said of the pact he made with his fellow soldiers when he was just 20. “I can’t not go. We go over there and be with them—all these guys.” Near Omaha Beach, the beauty of the American cemetery of Colleville-sur-Mer strikes any visitor entering the site, with its immaculate lawns, majestic pines, commanding view of the Atlantic and row upon row of crosses. The cemetery contains 9,380 graves, most of them for servicemen who lost their lives in the D-Day landings and ensuing operations. Another 1,557 names are inscribed on the Walls of the Missing. Alain Dupain, 61, is a gardener who has worked at the cemetery for 35 years, maintaining the grounds with a team of 20 people.

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Putin’s Arctic plans are a climate-change bet

Determining the Premium Liabilities Atty. Dennis B. Funa

INSURANCE FORUM

Leonid Bershidsky

BLOOMBERG

AST weekend, Russia launched the last of a new crew of atomic icebreakers meant to consolidate the country’s dominance of commercial traffic in the Arctic. As much of the rest of the world recognizes climate change as an emergency, Russia is working hard to capitalize on it—and the US appears to be far behind. The icebreaker Ural, launched at the Baltic Shipyard in Saint Petersburg, is the third and last ship, at least for now, of Project 22220. The other two, the Arktika and the Sibir, were launched in 2016 and 2017; the Arktika is expected to enter service this year. These powerful ships, capable of crashing through 3-meter-thick ice for clearing shipping routes, are the first nuclear-powered icebreakers designed in Russia since the collapse of the Soviet Union and fully built in post-Soviet times. The current nuclear icebreaker fleet is old, mostly built in the 1970s and 1980s, and much of it is no longer functional. The Russian government aims to replace it with the new giant ships in order to make what Russia calls the Northern Sea Route navigable yearround, not just a few months a year. The Northern Sea Route tracks Russia’s Arctic coastline from the Barents Sea in the west to the Bering Strait in the east. It cuts cargodelivery times between Europe and Asia by 10 to 15 days compared to shipping via the Suez Canal. The Russian government claims the right to regulate the whole of the route, even though not all of it passes through the country’s territorial waters, defined as 200 nautical miles from its shores. The Russian insistence that all Arctic traffic requires Moscow’s permission long has been an irritant to the US. Russia, meanwhile, has invested in opening and reopening military bases along its Arctic coast. Ten disused military airfields have been reopened, and 13 more are being built. By now, the bases cover almost the entire coastline and are, if required, ready to protect or disrupt any traffic along the North Sea Route. In a classic case of great power competition—who’s got more hardware?—the US faces an “icebreaker gap” compared with Russia. The reason for this gap may well lie in the two countries’ different approaches to climate change. The US oscillates between recognizing it as an emergency and, most recently under President Donald Trump, full-on skepticism. Russian President Vladimir Putin, for his part, has expressed doubt that human activity is causing climate change, but he doesn’t deny that it’s taking place. Putin’s attitude is that people can’t do much to stop climate change, and that makes adapting to it a long game. While he recognizes that the frequent droughts and floods that come with climate change can hurt Russian agriculture, he also sees the opportunities that come with

a warmer climate, including a more navigable Arctic Ocean. The US Navy has estimated that, despite the gradual melting of the ice cap, the Arctic “will remain impassable for most commercial ships for most of the year” at least until 2030 due to the unpredictable movement of sea ice. The Kremlin has decided against waiting this long, moving simultaneously to secure the Northern Sea Route by investing in the new icebreaker fleet (the Project 22220 ships are built by a state company) and building railroad lines to the Arctic and commercial ports on the coastline. In April, Russian government officials told a conference that the plan is to increase cargo traffic along the Northern Sea Route to 92.6 million metric tons by 2024 from 20.2 million tons in 2018; the cargo traffic was only half that in 2017. So far, the growth mainly has been achieved thanks to energy major Novatek PJSC’s new liquefied gas project in the Yamal Peninsula: The company exports LNG to Asian, mainly Chinese, clients along the Northern Sea Route. Eventually, though, the Russian government also hopes to move more of other commodities, such as oil and coal, along Arctic shipping lanes. All these ambitious plans are, in effect, a bet that by the time climate change helps make the Northern Sea Route navigable all year, Russia will have full control of any through traffic on the route—and will be actively exploiting it for its own commodity exports, shortening their path to Asia. The strategic bet isn’t easy for anyone, even the US with its naval power, to counter without a direct military confrontation because Russia is already so far ahead. Russia cannot afford to keep up with major rivals in all areas; as it worked on putting some distance between itself and other Arctic powers, it was squandering, for example, its advantage in space launches. But for Putin, the Northern Sea Route is a bigger priority—and one of the few things it can offer China in the anti-US alliance he’s trying to build with President Xi Jinping. So far, racing to assert Russian power in the Arctic before climate change makes competition there a free-for-all appears to have worked for the Kremlin. Western countries with access to the Arctic, European as well as North American, have been too slow—and perhaps not cynical enough—to bet as big as Putin has.

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VERY nonlife insurance company and reinsurance company supervised by the Insurance Commission is required to maintain reserves for its written policies, which shall be charged as a liability in any determination of its financial condition, in accordance to Sections 219 and 220 of the Amended Insurance Code, as well as the Valuation Standards for Non-Life Insurance Policy Reserves. In the nonlife insurance business, there are generally three types of reserves. These are: a) the unearned premium reserves (UPR); b) loss and loss adjustment (Loss Reserves); and c) “Incurred but not reported” reserves. However, terminologies, classifications and practices vary among different jurisdictions. In the Philippines, the Policy Reserves has been referred to as the aggregate of two types of reserves, the Premium Liabilities and Claims Liabilities. Premium Liabilities “refer to all future claim payments and related expenses for policy maintenance and claims settlement, to be made after the valuation date, arising from future events for which the company is liable under its insurance contracts, and is computed on both gross and net of reinsurance basis.” Its definition is pretty much the same as that of a Loss Reserve.

Claims Liabilities, on the other hand, “refer to claims incurred but not yet paid as of valuation date for both the company’s direct and assumed reinsurance business, whether treaty or facultative. It includes claims due and unpaid, claims in the course of settlement, resisted claims and those which are incurred but not reported at a designated level of confidence, as well as direct and indirect expenses related to settling all outstanding claims, whether reported and unreported, as of valuation date.” This will not be discussed here. Previously and as a temporary accommodation in view of the financial impact, the Insurance Commission, in a letter dated December 29, 2016, to the Philippine Insurers and Reinsurers Association (Pira), provided a relaxed implementation: “For 2017, companies shall be allowed to set up as Premium Liabilities the Unearned

Premium Reserves instead of the higher of the UPR and the unexpired risk reserves [URR] where the UPR is determined in accordance with Section 7.2 of the said Circular. Starting 2018, the Premium Liabilities shall be determined in accordance with the valuation standards prescribed under the said Circular.” This is a reiteration of CL 2016-69, dated December 28, 2016. Determining the Premium Liabilities: Aggregate basis Under the old “Valuation Standards for Non-Life Insurance Policy Reserves” under Section 7.1 of CL 2016-67, premium liabilities “for each class of business” in the non-life “shall be determined as the higher of UPR and URR.” It was proposed by ASP in 2018 that an aggregate approach be adopted in the calculation of the premium liabilities instead of a by line of business approach so that any deficiency in one line can be offset by excess premium reserves in other lines. Under CL 2018-18, dated March 9, 2018, the proposal of the ASP was adopted as it was provided that the premium liabilities shall be determined on an aggregate basis. UPR net of DAC In looking at the UPR, the Actuarial Society of the Philippines, in a letter dated January 26, 2018, proposed that it be net of Deferred Acquisition Cost. Pira objected to ASP’s proposal for the UPR to be computed net of DAC. Pira argued in its February 27, 2018, letter to the

The Associated Press

RUSSELS—France’s pro-EU president and the leader of Italy’s euroskeptic, far-right movement jockeyed for the role of chief powerbroker on the continent on Monday after elections to the European Parliament hollowed out the traditional political middle. The four days of balloting that drew to a close on Sunday across the European Union’s 28 countries ended the domination of the main center-right and centerleft parties in Parliament and established the anti-EU forces on the right and the environmentalists on the left as forces to be reckoned with. Voters delivered the highest turnout in 20 years, rejecting mainstream politics

in France, Germany, Britain and Italy. The results could make the business of governing Europe even trickier, leaving the Parliament deadlocked over key issues to come, including immigration, a major trade agreement with the United States, global warming, regulation of the tech industry and, of course, Brexit. The outcome of the election is already setting off a power struggle. In France, President Emmanuel Macron’s party narrowly lost to the French far-right, led by Marine Le Pen. Macron, whose party was poised to secure 21 seats to 22 for Le Pen’s National Rally, spent Monday busily amassing allies ahead of a summit on Tuesday in Brussels, hoping to build a durable pro-EU coalition. In Italy, Matteo Salvini’s right-wing League party won a third of the country’s

Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016. E-mail: dennisfuna@yahoo.com.

India’s Modi faces foreign pressures in second term

By Ashok Sharma | The Associated Press

EW DELHI—Indian Prime Minister Narendra Modi won a second term in office after responding to a suicide attack on Indian paramilitary forces in troubled Kashmir with an air strike inside Pakistan, allowing him to turn voters’ attention away from the country’s highest unemployment rate in decades. Now, after his swearing-in on Thursday, he will need to deftly navigate a trade war between the United States and China and rising tensions between the US and Iran, an important source of cheap oil for India’s fast-growing economy. Modi will also face pressure to protect India’s traditional sphere of influence in South Asia. Many Modi supporters credit the 68-year-old leader of the Hindu nationalist Bharatiya Janata Party with India’s growing status abroad, and messages from US President Donald Trump, Chinese President Xi Jinping, Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu congratulating him on his party’s victory even before all results were in seemed to bolster that belief. Lalit Mansingh, a former Indian ambassador to Washington, said foreign policy has been one of Modi’s most pronounced achievements, as he pursued it with vigor “that we have not seen in any other prime minister so far.” As Modi returns to power for another five years, global leaders are looking to India to take on a larger

burden of responsibility in the world, acting as a security buffer in the Indo-Pacific, opening its markets and responding to climate change, even though Modi struggled to manage many of India’s domestic issues in his first term. “Maneuvering in the current international situation will be quite a challenge for Modi,” said Dilip Sinha, a retired Indian diplomat. The US wants India to act as a counterweight to Beijing to prevent the rise of Chinese hegemony in Asia, but it also wants the Modi administration to lower barriers to trade. US Commerce Secretary Wilbur Ross complained to leaders in New Delhi earlier this month that American companies struggle to access India’s markets because of tariffs and myriad regulations. To help reduce the trade imbalance, India has signed more than $15 billion in US defense contracts. According to the World Economic Forum, India is poised to become the world’s third-largest consumer market, growing from $1.5 trillion this year to $6 trillion by 2030. At the same time, with the Trump administration scaling

up sanctions on Iran and ending waivers for countries, including India, that import Iranian goods, India must replace its third-largest source of imported oil. The fear of a further conflagration in the Gulf region could make oil more expensive and threatens the security of 7 million Indians working as migrant laborers. “It’s an extremely difficult and challenging position for India,” Sinha said. During the Cold War, India didn’t have open relations with Israel, leaning heavily in favor of the Palestinians. But over the last 25 years, ties between the two countries have warmed. Trade between them has skyrocketed from $200 million in 1992, when India and Israel established diplomatic ties, to $4.16 billion in 2016. The growing ties risk upsetting India’s long-standing relationship with other Middle Eastern countries. The US weapons-purchase agreements, coupled with Russia’s improving ties with Pakistan and China, also pose a challenge to Russia-India relations, which date back to the Cold War. “India’s Russian ties are also beginning to fray. The recent fighteraircraft deals with France and other military hardware purchases from the USA have resulted in sidelining India’s usual defense partner,” the opposition Indian National Congress party said in a statement. India faces perhaps its biggest

Macron vs Salvini: Two leaders face off over EU’s future By Lori Hinnant

Commission that this “will eventually increase the premium liabilities and may even create deficiency reserves, resulting in unfavorable impact [and] additional financial burden to the nonlife companies.” The proposal of the ASP was likewise adopted such that the UPR shall now be net of the DAC. Computing the Premium Liabilities The difference between the URR and the UPR is an additional reserve set up by the companies called the Premium Deficiency. Under CL 2018-18, “a computation should be performed to determine whether the UPR required is greater or smaller than the UPR net of DAC. If the URR is greater, then the difference should be booked as an additional reserve on top of UPR. Therefore, Premium Liabilities is equal to the UPR plus the difference between the URR and the UPR net of DAC, if the URR is greater than the UPR net of DAC. Otherwise, it is equal to the UPR.” Unexpired risk reserve, on the other hand, is defined in the Valuation Standards for Non-Life Insurance Policy Reserves (CL 2018-18) as “the amount of reserve required to cover future claims and expenses, at a designated level of confidence, that are expected to emerge from an unexpired period of cover” (Section 3.1.4.2).

vote and is poised to become one of the biggest parties in the European Parliament with 28 seats in the 751-seat legislature. But his ambitions reached higher. By midday, he had already spoken to Le Pen, Hungary’s hardline anti-immigrant prime minister, Viktor Orban, and Brexit Party leader Nigel Farage and was promising to singlehandedly bring together a contradiction in terms—an international group of nationalists. “We want to be a group that has at least 100 members and has the ambition to be at least 150, if everyone can overcome jealousies, sympathies, antipathies. To create an alternative, you play. You don’t do it by turning up your nose,” he said. The center-right European People’s Party and the center-left Socialists &

Democrats have dominated the parliament with a combined majority since direct elections were first held in 1979. With results still coming in, the EPP was on track to secure 180 seats, down from 217 five years ago. The Socialists were slated to win 145, down from 187. Riding what they called Europe’s “green wave,” environmentalist parties seeking action on climate change made strong gains, notably in Germany. Another mainstream formation, the freemarket ALDE group backed by Macron, saw its stake in the Parliament rise to 109 seats, from 68 in 2014. For the Parliament to choose a European Commission president and ultimately to pass legislation, new and uncomfortable alliances must be forged, and nearly all will require some

combination of ALDE and the Greens. Well aware of the far right’s potential to turn against itself, Macron launched a flurry of meetings ahead of the dinner summit on Tuesday where the EU countries’ presidents and prime ministers will take stock of the election results. He started with Spain and was due to hold talks with the leaders of Belgium, the Czech Republic, Germany, Hungary, Poland and Slovakia. “The future majority of the European Parliament goes through us, without question. There isn’t one without us,” Pascal Canfin, one of the leading candidates from Macron’s party, told France Inter radio. In Germany, where Chancellor Angela Merkel’s center-right movement also lost ground, leaders of the country’s

challenge with China at its northeastern border, as Beijing invests billions in infrastructure development in South Asia. India takes years to execute projects, whereas China delivers quickly on what it promises. India needs to maintain close ties with Sri Lanka, Bangladesh, Bhutan, Nepal and the Maldives, its traditional sphere of influence. But delays by Indian companies have led to cost overruns, prompting India’s neighbors to look toward China for speedy development. Modi has carefully cultivated ties with President Xi after a 2017 border standoff over Chinese construction of a road in Doklam near a tri-border area with Bhutan. India and China fought a bloody war in 1962 over a border dispute that continues to simmer. But their relations have thawed recently, with Beijing deciding against blocking the UN designation of Masood Azhar, the leader of the Pakistan-based militant group that claimed responsibility for the February suicide bombing in Kashmir, as a global terrorist. Though Modi invited then-Pakistan Prime Minister Nawaz Sharif and other South Asian leaders to attend his swearing-in ceremony in 2014, the neighbors were at the brink of nuclear war in February. Modi has refused an official dialogue with Islamabad until it ends support for what India calls terrorism emanating from its territory.

governing parties met to weigh the fallout from their worst post-World War II showing in a nationwide election. “We are facing a shrinking center,” a subdued EPP candidate Manfred Weber said. “From now on, those who want to have a strong European Union have to join forces.” Senior figures from the EPP hold the top posts in the EU’s three main institutions: Parliament president; head of the EU’s powerful executive commission; and European Council president, who chairs summits of European presidents and prime ministers. Just over 50 percent of the EU’s more than 400 million voters cast ballots. While real power in Europe remains in the hands of the 28 member-states, the Parliament’s influence has grown.

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Govt to seize goods from ASF-hit nations

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Food and Drug Administration (FDA) on Tuesday ordered the total recall and seizure of all processed pork meat products, including canned goods, sold in the market that were imported from countries struck by the dreaded African swine fever (ASF). The FDA, an agency under the Department of Health, issued the order after it met with the Department of Agriculture (DA) to discuss strategies to prevent the entry of the fatal hog disease into the country. Meat importers and traders warned, however, that measures such as the two-month import ban recommended by hog raisers, could jack up the prices of local meat and processed meat products. The order dated May 27 issued by FDA OIC-Director General Rolando

Enrique D. Domingo will cover all importers, distributors, retail outlets and other dealers who were asked to immediately recall all pork products from ASF-affected countries. FDA Order 2019-046 also authorized FDA’s food-drug regulation officers to seize all imported meat products that have been sourced from countries which confirmed outbreaks of ASF. “ Not w it h st a nd i ng a nd i n the interest of protecting public health and safety, the Food-Drug

Regulation Officers of the [Field Regulatory Operations Office] and [Regulatory Enforcement Unit] are hereby ordered to seize all imported pork meat products for distribution, offered for sale, transfer and/or for donation, which are found during the conduct of their continuous monitoring,” the order read. The FDA could tap the Philippine National Police, local government units and other concerned government agencies for help in seizing the meat products, according to the order. In September, the FDA banned the importation, distribution and sale of all processed pork meat products from China, Hungary, Latvia, Poland, Romania, Russia and Ukraine due to ASF. The FDA expanded the ban to Vietnam, Zambia, South Africa, Czech Republic, Bulgaria, Cambodia, Mongolia, Moldova and Belgium after these countries reported outbreaks of ASF.

Expensive meat

CONSUMERS should brace for higher prices of meat and processed meat products if the proposed twomonth moratorium on meat imports

UP stats dean is new PSA head

HE new national statistician is University of the Philippines (UP) School of Statistics Dean Dennis S. Mapa. The National Economic and Development Authority (Neda) on Tuesday announced the appointment of Mapa as new national statistician and head of the Philippine Statistics Authority (PSA). He will be taking over the position previously held by Lisa Grace S. Bersales, who concluded her stint with the PSA in April. Mapa will be heading the statistics body as it develops and implements the national ID system, formally known as

the Philippine Identification System program, one of the Duterte administration’s centerpiece measures. Mapa worked with the government on various research and development programs on population, economic growth and poverty data. He was nominated for the position by the Special Search Process Committee, chaired by the executive director of the Philippine Statistical Research and Training Institute (PSRTI) and made up of Neda and Central Bank officials, as well as statistics experts from the UP system. Before being named national statistician, Mapa

FRONTAL SYSTEM AFFECTING EXTREME NORTHERN LUZON as of 4:00 pm - May 28, 2019

was statistics professor and dean at the UP School of Statistics. He finished his statistics undergraduate from the UP Diliman. He also has masteral degrees in statistics and economics and a doctorate in economics from the same university. Mapa served as vice president and executive director of the UP Statistical Center Research Foundation, and is a member of the PSRTI Governing Board. The new national statistician took his oath on Monday before President Duterte. He will serve at PSA for five years. Elijah Felice E. Rosales

from ASF high-risk countries pushes through, according to Meat Importers and Traders Association (Mita) President Jesus C. Cham. Cham said they informed Agriculture Secretary Emmanuel F. Piñol of this consequence during their meeting with him on Tuesday. He argued that suspending importation from high-risk countries, which the DA considers to be near ASF-struck states, would limit the country’s meat supply, particularly for raw materials used in meat processing. The Philippines sources the majority of its raw materials for meat processing abroad, with Europe supplying bulk of the requirements of local processors. Cham said Piñol asked them to avoid buying meat products from countries that share common borders with ASF-infected countries as a preventive measure against the fatal hog disease. These countries, Cham noted, could include Germany, Netherlands and France, which are close to Belgium, which has confirmed ASF outbreaks in its wild boars but not in its domestic hog supplies.

To note, these three European countries are the country’s top pork suppliers with Germany being the top source for the meat product. “We told him that there could be a big impact if the supplies from these are curtailed,” he said in an interview after their meeting. “The most severely impacted would be the lower economic class which have least purchasing power because the imported pork byproducts are what they can afford,” he added. In fact, Cham said they are now feeling the effects of higher global meat prices and scarcity of pork supplies in the world due to higher demand by China to plug its supply losses due to ASF outbreaks. 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?” The Mita official said they are still awaiting the list of countries that the DA wants them to avoid sourcing their imports from. Nonetheless, Cham said he would relay Piñol’s request to their members, but would leave to them the decision of whether to abide by it.

He noted this is a business or company decision. Cham appealed to the DA anew to adopt science-based measures, such as those guided by international standards, when it comes to suspending importation. He explained that a high-risk country under international guidelines is the 7-kilometer radius area from the ground zero of an ASF outbreak

Unfazed

PIÑOL is cognizant of the possible price increase brought about by the local hog raisers’ appeal for a twomonth importation moratorium. However, he is unfazed by the consequences, saying such would be small compared to the possible losses of the local hog industry if the ASF virus enters the country. “Of course, we are looking at the effect of the move on prices, but the question there is: What should we prioritize, the one to peso-increase in pork prices or the destruction of the whole P200-billion hog industry?” he said in interview with reporters on Tuesday morning. “We really have to make a decision,” he added.

‘Highest ever’ ₧3.5-B Caap dividends By Recto Mercene @rectomercene

HE Civil Aviation Authority of the Philippines (Caap) remitted P3.5 billion in dividends to the national government coffers for the fiscal year 2018, its highest ever. Caap, already a member of the “Billionaires’ Club,”—an elite circle of government-owned and -controlled corporations (GOCC) that remit billions of pesos to the government—has a computed dividend payable of P958.5 million for 2018. However, the state aviation authority has reported an excess cash of P2.55 billion and deemed it appropriate to increase the dividend payment to P3.5 billion while still maintaining its economic viability. The fiscal performance of Caap has markedly improved under the Duterte administration.

Under the previous administration, the Caap refused to remit dividends from 2011 to 2015, arguing that under Republic Act 9497, or the Civil Aviation Authority Act of 2008, it has full fiscal autonomy. However, with the insistence on fiscal accountability of Transportation Secretary Arthur P. Tugade, Caap under the Duterte administration started remitting to the national coffers. For fiscal year 2017, the aviation authority paid P6.2 billion in dividends, topping the list of stateowned agencies under the DOTr that remitted the highest amount of dividends to the government. The 2017 dividends comprised Caap’s net income then, amounting to P3.22 billion, and the inclusion of P3 billion worth of unpaid dividend arrears. In 2018, the agency performed

even better with a notable growth of around P280 million in net income. Tugade lauded the Caap for its substantial contribution, noting that such reverts to the public by priming the economy through government spending on projects, programs and services. “Caap has maintained a very strong fiscal performance, consistently outperforming itself year after year. As custodians of public trust, it is but right that government agencies like Caap dispense their monetary functions with prudence, efficiency and transparency. This is one way of adhering to President Duterte’s directive of giving the Filipinos a comfortable life,” Tugade said. Caap Director General Jim Sydiongco said the agency remains steadfast in its mission of serving the best interest of the Filipino people.

Employers: Senate SOT bill is better

HE Employers Confederation of the Philippines (Ecop) said on Tuesday that it is inclined to support the more “realistic” Senate version of the pending Security of Tenure (SOT) bill. “The Senate version is more tempered [than that of the House of Representatives]...the Senate version is better, while Lower House version is really bad,” Ecop President Sergio Ortiz-Luis Jr. told the BusinessMirror in an interview at the sidelines of the 40th National Conference of Employers. The business leader cited how Senate Bill (SB) 1826 still recognizes nonregular forms of employment including seasonal, project-based and casual workers in contrast to the House Bill

Tobacco tax. . . Continued from A1

As approved by the panel, the committee report, which also endorsed the early approval of Senate Bill 2233—coauthored by Angara and Sens. Sherwin Gatchalian, Joseph Victor Ejercito and Emmanuel Pacquiao—provides the following scheduled tobacco tax increases: P45 per pack increase effective January 1, 2020, until December 31, 2021, P50 in January 2021, P55 per pack in January 2022 and P60 per pack effective January 1, 2023. The 17th Congress is set to hold sessions until June 5 before it officially adjourns on June 6.

(HB) 6908, which outlawed fixed-term employment. Another provision of HB 6908 that Ortiz-Luis opposed is the fine it imposes on companies found engaged in illegal contractualization. In SB 1826, a P5-million fine is being proposed. For HB 6908, erring employers will be made to pay a fine of P30,000 per worker who is a victim of illegal contractualization. Finally, Ortiz-Luis also rejected HB 6908’s use of the word “or” in the determination of whether or not a contractual work arrangement is an illegal labor-only contracting. Currently, labor-only contracting is determined if a contractor possesses at least two of these elements: no substan-

tial investment tools or equipment; no handle on workers’ methods; no means of accomplishing work. Under HB 6908, a contractor will be deemed engaged in labor-only contracting if it possesses only one of the said elements. “Almost everybody will fail if this will be the case,” Ortiz-Luis said, Labor Undersecretary Ana C. Dione said this will not be the case. She said the reform will just make it easier for the Department of Labor and Employment (DOLE) to determine incidents of illegal contractualization. On Tuesday, it was reported that the House of Representatives adopted SB 1826 for the SOT bill, making it unnecessary for it to go through the bicameral conference. Samuel P. Medenilla

Sin tax for health care

vendor groups have in recent days assailed the DOF’s—and the Department of Health’s—aggressive push for passage of the excise tax hike bill, saying the government tack in “overtaxing” just one sector is a shortcut that will not fully solve the problem and only spawn new ones. For one, an association of sarisari store owners told a Senate hearing that the higher retail prices of cigarettes as a result of the implementation of the TRAIN law in 2018 did not deter people from smoking per se. They simply stopped buying from legitimate vendors and turned to peddlers of counterfeit cigarettes using popular brand names, or smuggled items. With a report by Samuel

DOMINGUEZ, batting for its early approval, asserted that the government needs to raise an additional P400-billion revenue to bankroll implementation of the Universal Health Care (UHC) law. He noted that the UHC program’s expected expenditure for the next five years is P1.4 trillion. “The amount we have right now is only P1 trillion, so we’re going to be short by roughly P400 billion...I am sure that is not the intention of the President or the legislature; they want the full coverage,” Dominguez added.

Revenue shortcut assailed

THE tobacco makers, farmers and

P. Medenilla

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In the ad material of Notice of filing of Application for Alien Employment Permits published on April 6, 2019, the Position of Ms. Shi, Jing under ELEVANTO GLOBAL MARKETING SERVICES, INC. should have been read as Mandarin Account Customer Support Officer and not as published. In the application published on May 8, 2019, the position of Mr. Parthiban Perumal under DELOITTE & TOUCHE CONSULTING GROUP/ICS PTE LTD should have been read as Senior Consultant and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011. ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

Editor: Efleda P. Campos

Companies BusinessMirror

First Gen eyes completion of 2 LNG plants in 2023

By Lenie Lectura

@llectura

TA. RITA, Batangas—First Gen Corp. wants to start construction of two new gas-fired power plants as early as next year and finish it by 2023, just in time for when the Lopez-led firm would have put up its liquefied natural gas (LNG) terminal within the First Gen Clean Energy Complex. First Gen EVP and Chief Commercial Officer Jonathan Russell said after the groundbreaking ceremony of its LNG terminal project that two gas plants will have a combined capacity of 1,200 megawatts (MW). “Next to the San Gabriel site, we have two additonal vacant lots which can take two new units…about 1,200 MW,” Russell said. Ideally, construction for the two gas plants must be finished in 2023. “There’s a need for new capacity by 2024 so we’d like to start construction of those soon so that they can start to deliver power using LNG by 2024. We need to build them by 2023 so we can start them in 2020,” he said. But a final investment decision (FID) has yet to be reached concerning the two new plants. “We haven’t taken a final investment decision yet because we haven’t decided which contractor to choose,” Russell added. First Gen already operates four gas-fed power plants with an aggregate capacity of about 2,000 MW. These are the 1,000MW Santa Rita, 500-MW San Lorenzo, 414-MW San Gabriel and 97-MW Avion. On Tuesday morning, First Gen broke ground for its $700-million to $1-billion LNG import terminal. The project will be developed in two phases. The first includes new unloading facilities for LNG carriers with capacities ranging from 40,000 to 177,000 cubic meters; a 200,000-cubic meter LNG storage tank with a maximum send-out capacity of up to 5 metric tons per annum (MTPA); two LNG truck loading bays; as well as provisions for a future LNG carrier loading system for vessel capacities ranging from 5,000 to 40,000 cubic meters. The second phase includes an additional 200,000 cubic meters; LNG storage tank; increasing its send-out capacity up to 7 MTPA; two additional LNG truck loading bays; and an LNG carrier reloading system. The company is targeting to finish the LNG terminal before gas from the Malampaya gas facility runs out in 2024. When he delivered his speech during the ceremony, Energy Secretary Alfonso Cusi

said he hopes First Gen will be able to finish construction during the Duterte administration. “I think that might be a little challenging,” said Russell when asked if the LNG facility can be put up in 2022 “because we don’t need the LNG until the Malampaya finishes. We want to get it finished before Malampaya expires. We are hoping to get the project finished in 2023, but we certainly want to start it before the end of the term,” he said. First Gen will tap lenders to complete the financing of the LNG project. “We’re in discussions with several financing institutions. In the long term, we hope we can take out project financing. It could be 60 percent to 70 percent financed. We need to get on this with this project. If we don’t start to move, the risk is that 3.2 GW of capacity just disappears from the grid because of no gas. So there’s a real imperative to get moving. We need to work with partners to help make that happen,” Russell added. First Gen has partnered with Tokyo Gas Co. Ltd. for the LNG project. Both signed a joint development agreement (JDA) in December last year. “Given the joint development agreement between Tokyo Gas and First Gen, we consider that the holding of a Kagami Biraki ceremony is an appropriate way for First Gen and Tokyo Gas to celebrate our collaboration, the completion of the significant predevelopment work, and the commencement of the next phase of the development of the project,” said Federico R. Lopez, chairman and CEO of First Gen. First Gen is still on the lookout for interested firms willing to join the project. Discussions with potential partners are still ongoing. Once completed, the LNG terminal will allow the country to import LNG and ensure a continuing stable supply of clean energy once the Malampaya gas field is depleted. The entry of LNG will encourage both industrial and transport industries to consider it as a replacement to more costly and polluting fuels. “This groundbreaking is putting the Philippines in the value chain of LNG,” Cusi said.

SMC to build brewery in Vietnam

ONGLOMERATE San Miguel Corp. (SMC) said it is planning to expand its operations in Vietnam, mainly its beer business, as the drinking per capita of the Southeast Asian country is now more than double that of the Philippines. Ramon S. Ang, chairman of San Miguel Brewery Inc., said ideally the company would like to build a 2-million hectoliter brewery in Vietnam, possibly in its 200-hectare property in Ho Chi Minh. “But we are still studying our options,” Ang said at the sidelines of the company’s annual stockholders’ meeting. Ang said if the company is to build the plant of that capacity, it would have to invest $70 million for the venture. The amount is cheaper compared when the venture is made in the Philippines that may amount to P7 billion to P8 billion per brewery. Roberto N. Huang, SMB president said, the company needs to expand its current capacity of about 250,000 hectoliters as Vietnamese drinkers already overtook the drinking capacity

of those in the Philippines. Filipino per capita is just 19 liters of beer compared that of Vietnam’s 44 liters. Huang, meanwhile, said the company is waiting for the report of its team sent to the US to look into the possibility of putting up a US brewery. He said the team composed of a master brewer and an engineer left last week to look into the site in Los Angeles, California. “It’s not just a matter of knowing the capacity, but talk with people if a brewery can be put up there, and if they don’t have any complaint,” he said. “But we are still concentrating on the Philippines as only 10 percent of the business comes from overseas,” he said. Ang said with the stronger Philippine economy, its next phase of expansion becomes even more critical. “By the end of this year, we will inaugurate our sixth brewery located in Tagoloan, Misamis Oriental. By next year, the conversion of our Santa Rosa bottling plant into a full-fledged brewery will also be completed,” he said. VG Cabuag

Wednesday, May 29, 2019

Companies BusinessMirror

Wednesday, May 29, 2019

PSE STOCK QUOTATIONS

May 28, 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 RCBC SECURITY BANK UNION BANK BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58 132 79.8 26.5 11.5 72.4 13.2 58.5 57.3 26.75 170.8 59.5 2.2 18.76 4.49 1.34 0.445 745 0.99 184 1,752

59 132.6 80.8 26.6 11.58 72.5 13.3 58.8 57.75 26.8 171.1 61 2.25 18.8 4.55 1.41 0.45 800 1 184.5 1,825

58 131.6 81 26.5 11.7 72 13.2 58.4 57.4 26.75 173.8 60.35 2.2 18.76 4.56 1.33 0.45 800 1 185 1765

59 135 81 26.6 11.76 72.65 13.2 58.95 57.75 26.75 174.6 60.4 2.2 18.8 4.58 1.44 0.45 800 1.02 185 1,765

58 131.1 79.8 26.5 11.5 71.5 13.2 58.35 57.05 26.75 170 59.3 2.2 18.76 4.49 1.33 0.45 780 0.98 185 1,750

59 132 79.8 26.6 11.5 72.5 13.2 58.5 57.75 26.75 171.1 60 2.2 18.76 4.58 1.34 0.45 780 0.99 185 1,750

4,010 235,080 7,919,630 1,047,347,485 4,714,420 376,870,879 39,200 1,040,490 710,400 8,262,552 6,570,570 475,497,421.5 ( 20,500 270,600 389,340 22,751,098.5 1,910 109,159.5 1,500 40,125 1,166,850 199,623,177 1,460 87,863 3,000 6,600 13,400 251,404 65,000 296,740 21,000 28,670 70,000 31,500 20 15,800 542,000 537,150 100 18,500 85 149,250

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

1.42 35.7 0.28 21.2 76.4 372.4 22 6.19 4.72 2.22 11.86 42.25 6.43 14.86 14.62 14.3 5.5 10 7.49 105.6 0.69 44.15 270 9.12 12.52 0.19 1.23 13 1.54 4.9 1.95 0.128 155 1.24 2.5 65.7 2.62 5.25 16.12 9.84 13.62 20.55 9.08 1.21 1.35 2.03 3.32 4.78 45 2.26 10.68 1.66 5.32 1.18 25.25

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A FORUM PACIFIC 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 SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.61 12.46 892 54.1 15 0.75 1.24 1.24 6.75 10.32 13.9 4.15 0.249 863.5 6.15 60 5.95 0.47 4.62 15.02 0.51 4.32 0.039 3.48 1.1 1.34 433 925.5 178.2 0.9 264.2 0.233 0.29

1.43 35.8 0.285 21.8 76.45 373 22.6 6.27 4.78 2.23 12.1 42.75 6.48 14.88 16 14.84 5.84 10.2 7.5 107 0.71 44.2 270.6 9.61 12.54 0.201 1.24 13.2 1.55 4.98 1.98 0.134 155.6 1.25 2.6 68 2.63 5.8 16.14 9.9 13.64 20.6 9.4 1.23 1.36 2.04 3.54 4.99 45.5 2.27 10.7 1.67 5.69 1.19 25.6

1.4 35.35 0.275 21.7 76.4 370 22.7 6.1 4.71 2.26 12.06 40.85 6.5 14.86 16.24 14.5 5.86 10.18 7.5 105.6 0.69 44.2 273.8 9.72 12.52 0.19 1.25 13.1 1.57 5.1 1.99 0.128 153 1.15 2.5 65.7 2.56 5.25 16.24 10.04 13.8 20.8 9.08 1.34 1.15 1.97 3.54 4.78 45 2.28 10.46 1.7 5.72 1.18 26.4

1.44 36.2 0.29 21.8 77 375 22.7 6.27 4.78 2.32 12.1 42.25 6.5 14.96 16.24 14.9 5.86 10.22 7.5 107 0.71 44.5 274 9.72 12.7 0.19 1.26 13.2 1.57 5.1 1.99 0.128 158 1.25 2.5 68 2.66 5.25 16.26 10.2 13.82 21.4 9.08 1.36 1.44 2.04 3.54 4.81 45.5 2.3 10.78 1.7 5.72 1.19 26.4

1.4 34.95 0.275 21.2 76.4 368 22 5.97 4.7 2.17 11.84 40.5 6.43 14.8 16.24 14.28 5.5 10 7.49 105.5 0.68 43.75 270 9.1 12.52 0.19 1.23 13 1.54 4.98 1.99 0.128 153 1.15 2.5 65.6 2.55 5.25 16.08 9.7 13.64 20.3 9.08 1.21 1.15 1.97 3.54 4.78 45 2.24 9.92 1.65 5.7 1.18 25.2

1.43 35.7 0.28 21.2 76.45 372.4 22 6.27 4.78 2.22 12.1 42.25 6.43 14.88 16.24 14.3 5.5 10 7.49 107 0.71 44.2 270 9.12 12.54 0.19 1.24 13 1.55 4.98 1.99 0.128 155 1.24 2.5 68 2.62 5.25 16.14 9.9 13.64 20.55 9.08 1.23 1.35 2.03 3.54 4.8 45.5 2.27 10.68 1.67 5.7 1.19 25.6

437,000 6,176,700 5,080,000 3,260,800 155,070 805,540 2,698,300 10,687,900 24,000 49,897,000 69,200 1,314,300 9,700 836,200 100 13,553,700 1,600 3,632,000 336,000 267,400 842,000 33,400 2,630,790 102,100 775,800 50,000 1,312,000 8,700 279,000 902,000 18,000 120,000 3,235,860 17,225,000 801,000 160 15,684,000 4,670,400 146,800 1,332,900 725,100 5,149,600 200 12,148,000 69,866,000 1,403,000 3,000 175,000 104,600 3,880,000 4,518,200 225,000 1,700 232,000 250,600

623,700 219,504,445 1,434,450 69,933,385 11,863,756 299,873,230 60,287,540 66,569,706 113,240 112,866,130 831,672 54,977,345 62,456 12,441,520 1,624 193,851,236 9,176 36,470,970 2,516,650 28,404,871 583,960 1,471,185 711,735,252 933,682 9,742,106 9,500 1,628,930 113,340 433,830 4,520,988 35,820 15,360 502,219,196 20,439,380 2,002,500 10,620 41,140,140 24,519,600 2,372,624 13,428,393 9,998,160 106,473,115 1,816 15,471,700 93,155,720 2,819,380 10,620 839,690 ( 4,709,185 8,809,240 47,167,356 374,380 9,716 274,590 6,441,100

HOLDING & FRIMS 0.62 12.48 892.5 54.15 15.04 0.76 1.25 1.26 7.04 10.46 14.38 4.75 0.26 865.5 6.18 60.4 6.18 0.495 4.65 15.22 0.55 4.38 0.04 3.49 1.15 1.35 460 926 180 0.91 265 0.235 0.295

0.57 12.9 904 54.35 14.54 0.75 1.22 1.23 7.08 10.14 14.68 4.49 0.249 900 6.15 60 5.95 0.5 4.7 15.3 0.51 4.3 0.039 3.4 1.06 1.33 434 915 182 0.9 267 0.234 0.28

0.63 13.12 904.5 55.85 15 0.79 1.26 1.26 7.1 10.46 14.68 4.49 0.265 900 6.15 61.4 5.95 0.5 4.75 15.3 0.55 4.41 0.04 3.5 1.06 1.35 434 927.5 182 0.93 270 0.235 0.3

0.56 12.48 891 53.35 14.5 0.74 1.2 1.23 6.75 10.14 13.5 4.49 0.249 863.5 6.15 60 5.95 0.46 4.6 15.02 0.51 4.27 0.039 3.38 1.06 1.33 434 904.5 178.2 0.86 265 0.233 0.28

0.62 12.48 892.5 54.15 15 0.76 1.25 1.26 6.75 10.46 14.38 4.49 0.265 863.5 6.15 60 5.95 0.495 4.65 15.02 0.55 4.32 0.04 3.49 1.06 1.35 434 925.5 178.2 0.9 265 0.235 0.29

38,401,000 32,600 1,859,680 17,478,790 15,426,100 1,986,000 3,566,000 305,000 1,227,300 16,745,300 10,200 3,000 210,000 314,110 5,000 8,717,120 100 718,000 388,000 3,777,100 28,000 96,675,000 3,700,000 5,102,000 32,000 192,000 10 996,960 370,170 6,202,000 3,800 70,000 14,450,000

23,493,390 ( 416,084 1,662,583,700 947,140,422.5 230,066,602 1,518,090 4,375,640 377,800 8,290,399 174,455,684 144,772 13,470 53,480 272,149,455 30,750 524,066,467 595 335,475 1,811,410 56,830,632 14,320 418,361,960 144,500 17,671,920 33,920 256,380 4,340 921,817,235 66,416,167 5,503,800 1,009,834 16,350 4,207,550

(72,861,101) (78,606,746) (432,250) (5,783,508) 33,206,389.5) 745,483 24,698,527 (8,516.5) (93,800) (17,069,585) (22,538,495) (3,131,782.5) (140,026) (30,229,695) 33,564,810 606,560.0002 (337,200) 8,065,185 203,822 (12,040,086) (3,952) (14,792,000) (1,649,298) (880,426) (205,685,188) (59,238) (260,500) (4,465,960) (67,707,679) (893,230) 2,000,000 2,198,210 802,867.9998 (2,225,748) 3,554,022 (47,377,955) 58,860 67,040 127,260 796,400.0002) (258,450) (221,240) 19,731,158 507,360.0001) (12,900) (27,655,440) (29,541,078) 45,764,080 (7,500) (6,537,583) (4,435,076) (1,598) 41,068,910 (65,071,165) (994,650) (22,332,040) (197,049,550) (863,960) 53,608,630 (14,764,962) (760,618) 328,850

PROPERTY

ARTHALAND CORP 0.75 0.76 0.77 0.77 0.74 0.76 248,000 187,100 (4,560) AYALA LAND 48.65 48.7 48.1 48.65 47.4 48.65 27,116,700 1,316,781,630 56,775,100 ARANETA PROP 2.09 2.14 2.09 2.14 2.06 2.14 101,000 213,060 BELLE CORP 2.25 2.27 2.23 2.29 2.23 2.27 118,000 266,860 A BROWN 0.78 0.79 0.78 0.8 0.78 0.79 2,324,000 1,831,270 CITYLAND DEVT 0.86 0.88 0.86 0.88 0.85 0.88 6,000 5,140 CROWN EQUITIES 0.226 0.227 0.225 0.227 0.225 0.226 590,000 132,880 (24,860) CEB LANDMASTERS 4.95 4.96 5.05 5.09 4.95 4.96 1,450,900 7,315,499 (1,325,369) CENTURY PROP 0.58 0.59 0.58 0.6 0.57 0.59 23,758,000 13,938,460 843,870 CYBER BAY 0.375 0.395 0.375 0.375 0.375 0.375 40,000 15,000 DOUBLEDRAGON 25.4 25.45 23.95 25.4 23.95 25.4 1,437,600 35,803,035 23,144,400 DM WENCESLAO 9.33 9.34 9.5 9.82 9.34 9.34 841,900 7,935,120 (5,383,989) EMPIRE EAST 0.475 0.48 0.48 0.485 0.475 0.48 1,150,000 550,350 (264,100) FILINVEST LAND 1.6 1.61 1.58 1.6 1.58 1.6 20,875,000 33,393,660 18,697,270 GLOBAL ESTATE 1.38 1.39 1.45 1.45 1.39 1.39 4,125,000 5,816,540 139,000 8990 HLDG 15.7 15.88 15.88 15.94 15.48 15.88 461,500 7,256,324 678,880 PHIL INFRADEV 1.77 1.78 1.71 1.79 1.7 1.78 1,549,000 2,700,350 (98,770) CITY AND LAND 0.77 0.79 0.81 0.82 0.78 0.82 50,000 39,430 7,800 MEGAWORLD 5.52 5.55 5.52 5.56 5.47 5.52 54,170,100 299,213,509 (28,688,498) MRC ALLIED 0.31 0.315 0.31 0.315 0.3 0.31 7,220,000 2,234,350 PHIL ESTATES 0.465 0.475 0.46 0.475 0.46 0.475 40,000 18,650 PRIMEX CORP 2 2.02 2.05 2.08 1.99 2 2,324,000 4,701,380 ROBINSONS LAND 24.65 24.75 24.3 24.75 23.9 24.75 8,557,500 211,253,900 41,771,495 PHIL REALTY 0.4 0.41 0.41 0.42 0.36 0.42 4,230,000 1,678,500 (37,350) ROCKWELL 2.03 2.04 2.03 2.04 2.02 2.03 48,000 97,490 (81,199.9999) STA LUCIA LAND 1.91 1.94 1.89 1.97 1.86 1.91 764,000 1,468,010 47,000 SM PRIME HLDG 39.25 39.3 38.4 39.3 38.15 39.25 22,065,800 864,453,625 (145,409,625) STARMALLS 6.35 6.4 6.37 6.49 6.3 6.43 87,700 556,112 VISTA LAND 7.05 7.06 7.17 7.18 7.06 7.06 15,521,000 109,645,652 (57,000,105) SERVICES ABS CBN 18.16 18.18 18.18 18.2 18.1 18.16 77,200 1,402,056 GMA NETWORK 5.37 5.39 5.4 5.4 5.37 5.37 57,200 307,751 MANILA BULLETIN 0.54 0.56 0.54 0.56 0.54 0.56 370,000 203,360 GLOBE TELECOM 2,112 2,124 2064 2,168 2,064 2,112 199,340 423,960,160 41,363,320 PLDT 1,277 1,290 1283 1,316 1,273 1,277 593,715 759,988,115 (35,114,730) APOLLO GLOBAL 0.045 0.046 0.045 0.046 0.044 0.046 6,600,000 295,600 DFNN INC 5.78 6.5 5.5 6.95 5.5 6.5 164,000 1,046,470 (684,120) IMPERIAL 1.75 1.89 1.75 1.75 1.75 1.75 13,000 22,750 ISLAND INFO 0.123 0.124 0.122 0.124 0.122 0.124 260,000 32,070 ISM COMM 6.01 6.02 6.13 6.18 5.95 6.02 3,151,400 19,039,658 1,474,232 NOW CORP 2.26 2.3 2.12 2.3 2.08 2.3 9,219,000 20,527,550 ( 543,610.0001) TRANSPACIFIC BR 0.355 0.36 0.335 0.37 0.33 0.355 47,560,000 16,690,850 (6,949.9998) PHILWEB 3.29 3.3 3.43 3.46 3.25 3.3 4,446,000 14,767,850 (2,033,000) 2GO GROUP 11.48 11.56 11.4 11.58 11.3 11.56 26,800 306,020 10,372 ASIAN TERMINALS 20.9 21.25 21 21 21 21 567,200 11,911,200 277,200 CHELSEA 6.42 6.43 6.39 6.55 6.24 6.43 702,800 4,505,884 CEBU AIR 86 88.1 90.15 90.15 86 86 533,330 46,363,228.5 ( 33,787,333.5) INTL CONTAINER 135.5 137.3 136 138 135 137.3 13,123,760 1,799,593,287 (35,116,562) LBC EXPRESS 14.3 14.42 14.42 14.42 14.4 14.4 1,300 18,726 LORENZO SHIPPNG 0.8 0.85 0.87 0.87 0.8 0.85 1,006,000 829,750 195,300 MACROASIA 20.6 20.8 20.5 20.8 19.88 20.8 1,697,900 35,172,978 31 ,534,831.0003 METROALLIANCE A 1.59 1.73 1.59 1.6 1.59 1.59 23,000 36,700 PAL HLDG 9.65 9.97 9.89 9.99 9.89 9.99 14,200 140,517 (5,940) HARBOR STAR 2.3 2.34 2.44 2.44 2.3 2.3 3,536,000 8,232,700 138,600 ACESITE HOTEL 1.43 1.44 1.38 1.44 1.38 1.43 363,000 517,670 (8,460) BOULEVARD HLDG 0.06 0.061 0.062 0.062 0.059 0.06 13,180,000 790,730 WATERFRONT 0.68 0.7 0.71 0.71 0.67 0.7 4,006,000 2,742,750 6,300 IPEOPLE 10.22 11.22 10.66 11.22 10.5 11.22 17,100 180,230 STI HLDG 0.67 0.68 0.66 0.69 0.64 0.67 2,991,000 1,999,490 646,100 BERJAYA 2.92 2.93 2.83 2.94 2.77 2.93 2,619,000 7,541,200 BLOOMBERRY 11.3 11.7 11.12 11.7 11 11.7 8,400,200 96,571,606 7 ,704,982.0004 PACIFIC ONLINE 3.16 3.34 3.34 3.35 3.15 3.34 466,000 1,519,150 LEISURE AND RES 4.77 4.78 4.68 4.86 4.68 4.77 5,970,000 28,738,470(7, 073,580.0003) MANILA JOCKEY 3.65 3.67 3.71 3.71 3.68 3.68 58,000 214,100 PH RESORTS GRP 4.33 4.53 4.32 4.53 4.32 4.53 32,000 143,710 31,430 PREMIUM LEISURE 0.73 0.74 0.75 0.75 0.73 0.74 1,061,000 785,510 (22,200) PHIL RACING 8.5 9 9 9 9 9 1,200 10,800 TRAVELLERS 5.3 5.32 5.28 5.3 5.26 5.3 313,800 1,658,174 METRO RETAIL 2.66 2.67 2.63 2.67 2.61 2.66 2,916,000 7,698,100 93,100 PUREGOLD 45.8 46 45.1 46.4 44.95 46 1,192,900 54,962,770 35,080,740 ROBINSONS RTL 71 72 71.05 71.4 70.65 71 1,304,440 92,604,825.5 47,105,893 PHIL SEVEN CORP 119 120 119 120 114 120 86,970 10,436,040 6,028,530 SSI GROUP 3.12 3.13 3.2 3.2 3.11 3.13 2,586,000 8,116,840 859,780 WILCON DEPOT 16.5 17.16 16.34 17.16 16.34 17.16 5,105,500 86,381,586 26,906,150 APC GROUP 0.42 0.425 0.415 0.42 0.405 0.42 1,010,000 418,450 81,000 EASYCALL 10.56 10.6 10.6 11.7 10.4 10.6 480,700 5,288,408 1,060 GOLDEN BRIA 403 413 400.2 416 400.2 416 1,560 647,548 PAXYS 2.93 3.19 2.92 2.92 2.92 2.92 1,000 2,920 PRMIERE HORIZON 0.81 0.82 0.8 0.85 0.79 0.82 34,929,000 28,807,500 (791,070) SBS PHIL CORP 9.3 9.65 9.66 9.66 9.66 9.66 1,800 17,388 MINING & OIL ATOK 10.64 11.8 11.6 11.9 11.6 11.9 1,400 16,438 APEX MINING 1.12 1.13 1.12 1.14 1.08 1.13 2,139,000 2,375,810 ( 431,679.9998) ABRA MINING 0.0018 0.0019 0 0.0018 0.0019 0.0018 0.0019 452,000,000 848,100 BENGUET A 1.1 1.18 1.08 1.17 1.08 1.1 29,000 32,770 COAL ASIA HLDG 0.285 0.295 0.285 0.285 0.285 0.285 10,000 2,850 CENTURY PEAK 2.74 2.75 2.77 2.77 2.75 2.75 1,141,000 3,150,370 96,850 DIZON MINES 7.68 7.78 7.85 7.86 7.68 7.68 800 6,207 FERRONICKEL 1.48 1.49 1.53 1.53 1.46 1.49 7,120,000 10,598,860 GEOGRACE 0.23 0.242 0.243 0.246 0.23 0.23 1,280,000 301,650 LEPANTO A 0.104 0.11 0.105 0.105 0.104 0.104 100,000 10,450 MANILA MINING A 0.0074 0.008 0 0.0075 0.0075 0.0075 0.0075 3,000,000 22,500 MARCVENTURES 1.03 1.04 1.03 1.03 1 1.03 191,000 192,230 NIHAO 0.98 1.01 1.01 1.01 0.98 1.01 107,000 105,050 NICKEL ASIA 2.14 2.19 2.19 2.19 2.14 2.14 2,265,000 4,892,300 (811,470) OMICO CORP 0.58 0.6 0.57 0.6 0.57 0.6 16,000 9,150 ORNTL PENINSULA 0.88 0.9 0.88 0.9 0.88 0.88 165,000 145,220 PX MINING 2.88 2.89 2.89 2.9 2.88 2.89 109,000 315,260 (23,110) SEMIRARA MINING 22.4 22.5 22.65 22.75 21.65 22.5 26,260,300 588,508,830 158,753,260 UNITED PARAGON 0.0065 0.0066 0 0.0066 0.0066 0.0066 0.0066 2,000,000 13,200 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 15,100,000 166,100 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 82,500,000 904,500 PHINMA PETRO 3.8 3.88 3.92 3.92 3.8 3.88 226,000 868,300 (3,860) PXP ENERGY 8.13 8.19 8.35 8.48 8.09 8.13 663,000 5,453,852 174,695 PREFFERED AC PREF B2 483.2 499 483.2 499 483.2 483.2 70 33,982 DD PREF 98 98.5 98 98 98 98 52,200 5,115,600 SMC FB PREF 2 970 980 970 970 970 970 480 465,600 GTCAP PREF A 878 916 899 899 899 899 1,000 899,000 LR PREF 0.98 0.99 0.98 0.99 0.98 0.99 150,000 147,500 MWIDE PREF 100.5 102.5 102.5 102.5 102.5 102.5 10 1,025 PNX PREF 3A 99.6 101.9 102 102 102 102 10 1,020 PCOR PREF 2B 950 1,015 1015 1,015 1,015 1,015 60 60,900 SMC PREF 2B 75 75.5 75.5 75.5 75.5 75.5 10,140 765,570 SMC PREF 2C 76 76.8 76.25 76.25 76 76 46,710 3,551,680 380,000 SMC PREF 2E 72.5 73 72.5 72.5 72.5 72.5 18,440 1,336,900 SMC PREF 2F 74.6 74.75 74 74.6 74 74.6 47,790 3,543,851 SMC PREF 2G 73.85 75 73.9 74.5 73.9 74.5 42,740 3,180,915 SMC PREF 2H 72.5 73.65 73 73 72.95 73 16,800 1,226,350 (131,400) SMC PREF 2I 72.5 73.7 73.8 73.8 73.7 73.7 20 1,475 -

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 17.9 18.44 18.44 18.44 17.9 17.9 33,200 610,780 GMA HLDG PDR 5.34 5.35 5.36 5.36 5.3 5.34 86,300 460,205

WARRANTS LR WARRANT

2.2

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.64 XURPAS 1.02

2.27

2.25

2.29

2.18

2.27

415,000

931,420

4.67 1.03

4.65 0.98

4.7 1.03

4.63 0.98

4.64 1.02

265,000 2,180,000

1,233,250 2,203,900

20,790

EXHANGE TRADE FUNDS FIRST METRO ETF

115.8

(57,580) -

116

115.8

116

5,140

596,024

www.businessmirror.com.ph

Avida Land targets middle-income buyers with P2.8-B Imus, Cavite, devt By VG Cabuag

@villygc

VIDA Land Corp., the middleincome brand of property developer Ayala Land Inc., on Tuesday said it is populating the developer’s 700-hectare Vermosa Estate through the sale of its house-and-lot units in a subdivision to end-users. Anne Jara, Avida Land’s South Luzon project strategic management group head, said the company’s P2.8-billion development called Avida Verra Settings is targeting those with families seeking upgraded homes ready for future expansion. These are buyers with established professions and a monthly household income of P150,000 and

above, she said. “The project will attract some residents from Metro Manila, as well as those who want to relocate to a suburban environment that encourages an active lifestyle,” Jara said. Avida Verra Settings, a 10-hectare development, is the company’s seventh horizontal development in Cavite, “Avida Verra Settings Vermosa

is our first and only Cavite subdivision within an Ayala Land estate. This allows home buyers access to all the developments in the estate while enjoying a healthy, sustainable environment,” she said. The company is selling 185 units each for the house-and-lot units and also 185 for lot-only units, all sold out mainly to investors. Jara said Avida hopes to populate Vermosa through the sale of house and lot to the end-users. Avida was also given the same task of populating the community when Ayala Land first launched Nuvali more than a decade ago. Its development features bilevel homes in a modern contemporary design. The Macy model home has a minimum floor area of 67 square meters while the Trista model is larger with a floor area of 85 sq.m. “Aside from lots only and house and lots, we are also offering the option of a house and lot, and the adjacent lot combination. This allows

buyers to expand and customize their living or outdoor spaces as they see fit,” Jara said. The house and lot with adjacent lot option brings up the Macy model to a minimum of 250-sq.m. lot area size, while the Trista goes up to 276 sq.m. The Macy model with adjacent lot option is priced at P12.5 million. The Trista model with adjacent lot option goes for P14 million. For a house and lot, the price starts at P7.6 million. A lot-only option will cost buyers P5.7 million. Avida Verra Settings will have a central amenity area that includes adult and kiddie pools, a basketball court, children’s park and playground and clubhouse. Open spaces and landscaped areas will also be part of this fenced community. The property will be minutes away from Vermosa Midtown, the pedestrian and bike-friendly area for mid-rise commercial and institutional developments. Avida Verra Settings Vermosa is scheduled for turnover by 2021.

CLI expects net income to reach ₧2.6B in 2019 By Roderick L. Abad

@rodrik_28

Contributor

UBLICLY listed firm Cebu Landmasters Inc. (CLI) said on Tuesday that growth momentum will continue this year as its top honcho pronounced the company targets to achieve a consolidated net income growth of 19.82 percent to P2.6 billion this year. The leading local developer in Visayas and Mindanao (VisMin) aims to increase its net income attributable to parent by 19.76 percent to P2 billion by end of 2019, CLI Chairman and CEO Jose Soberano III. Topline-wise, CLI seeks to generate revenues of P8.4 billion, 25 percent higher than the P6.7 billion posted last year. Reservation sales guidance was set at P12.5 billion, also a 25-percent hike year-on-year (YoY) from P9.8 billion. “Cebu Landmasters will continue to focus on rolling out projects for the growing VisMin market. We are now moving into new key cities in the region as we expand our developments in existing ones,” Soberano said on the sidelines of their annual stockholders’ meeting. Soon, the regional developer will be rolling out developments in the new expansion areas of Bohol and Iloilo as negotiations to acquire lands in the cities of Ormoc, Roxas and General Santos are being finalized. Also, it is firming up negotiations for a township project in Cagayan de Oro and a 20-hectare property in Mandaue City. At present, CLI leads the real-estate industry in the VisMin region with 61 projects in eight growth cities—Cebu, Mandaue, Davao,

Cagayan de Oro, Dumaguete, Bacolod, Iloilo and Bohol—all in different stages of development. In Davao, its flagship 22-hectare Davao Global Township (DGT) project is aimed at transforming the Davao Golf Club into an iconic central business district. A few years from now, rental operations are seen driving the business expansion of the company as it expects 10 percent of aggregate revenues to come from recurring business by 2023. Gross leasable area across different projects are also projected to exceed 200,000 square meters, including the 7,400 sq.m. GLA at Base Line Center, 11,600 sq.m. at Latitude and 13,000 sq.m. at Astra Corporate Center—all located in Cebu. Hospitality is another growth spot for CLI. Given the five hotels on the drawing board, the real- estate firm is set to operate over 1,100 hotel rooms within the next four years. First to be finished is the Citadines Cebu City—the first of its four hotels to be managed by The Ascott Ltd.—with 180 rooms. This is scheduled to commence operations this year. Other hotels to be managed by The Ascott Ltd. are Citadines Paragon Davao, Citadines Bacolod City and lyf Cebu City. The property developer also executed a partnership deal with the Radisson Hotel Group for the first Radisson Red in the Philippines, which will be in Astra Centre in Cebu. Plans are under way for another hotel as part of the Patria de Cebu redevelopment. This landmark structure used to be a recreation center for Catholic youth back in the 1950s and will be transformed into a mixed-use project.

Wawa Bulk Water expected to solve Metro Manila’s water woes in two years By Jonathan L. Mayuga

@jonlmayuga

ROPONENTS of the Wawa Bulk Water Supply Project, a joint venture between Prime Infra led by Enrique Razon and San Lorenzo Ruiz Builders Group (SLRB) led by Oscar Violago, are confident that the project will address Metro Manila’s perennial water-supply shortage within two years or before President Duterte steps down from office. This developed as the Metropolitan Waterworks and Sewerage System (MWSS) announced the approval of the project that will assure Metro Manila of an initial 80 million liters per day (MLD) of water. Around 20 million water consumers in Metro Manila and nearby provinces, including some parts of Bulacan, Rizal and Cavite, are dependent on the raw supply coming from Angat, with a total 4,000 MLD divided between Maynilad Water Services (2,400 MLD) and Manila Water (1,600 MLD). This accounts for around 96 percent of the total water supply for Metro Manila including service areas in nearby provinces. MWSS Chairman Franklin J. Demonteverde

and MWSS Administrator Reynaldo V. Velasco announced the agency’s approval of the joint venture on May 23. The approval was made in two separate board meetings on May 9 and May 22. The MWSS and the Office of the Government Corporate Council are finalizing the remaining issues on the project. In a statement, Razon vowed to step up the project’s completion to make sure adequate water supply will be available by 2021 for the East Zone, the area serviced by Manila Water. “We thank the decisive leadership of MWSS for the approval of the project, and assure them of our commitment to helping in solving the current water crisis,” said Razon, chairman of Prime Infra. The proponents of the project will tap water from the Wawa Dam in Rizal province to add supply to Manila Water’s concession areas. Up to 500 MLD are expected to be added to the supply by 2025. It will raise Manila Water’s supply by 30 percent. Wawa Dam was the primary water source of Metro Manila before Angat Dam was built. The Razon-led venture is prepared to invest up to P20 billion for the project to ensure watersupply security over the medium and long terms.

MUTUAL FUNDS

May 28, 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 258.8 -1.09% 0.11% 0.48% 2.6% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5924 4.47% 8.61% 3.04% 10.52% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0304 -3.07% 0.21% -0.28% 3.26% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9278 1.42% N.A. N.A. 4.19% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8541 1.26% N.A. N.A. 4.07% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.366 0.01% 0.2% 0.46% 1.8% MBG EQUITY INVESTMENT FUND, INC. -A 122.87 7.71% N.A. N.A. 5.5% ONE WEALTHY NATION FUND, INC. -A 0.8575 -1.89% -4.4% N.A. 3.02% PAMI EQUITY INDEX FUND, INC. -A 51.0284 1.13% 0.94% N.A. 3.71% PHILAM STRATEGIC GROWTH FUND, INC. -A 533.15 0.66% 0.05% 0.36% 3.58% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.2964 2.34% 1.8% 3.07% 3.38% PHILEQUITY FUND, INC. -A 38.0923 2.16% 2.53% 2.53% 3.99% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0207 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.1715 1.65% 1.87% 2.64% 4.29% PHILIPPINE STOCK INDEX FUND CORP. -A 863.27 1.7% 1.58% 2.6% 4.2% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9145 3.83% 1.04% N.A. 6.19% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2452 2.57% 1.87% 1.87% 4.59% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9925 1.21% 1.53% N.A. 4% UNITED FUND, INC. -A 3.6725 2.79% 3.77% 2.79% 4.9% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 115.5957 2.08% 2.59% 3.67% 4.38% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9451 -13.5% 5.16% -0.61% 1.72% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2528 -3.18% 7.33% N.A. 13.37% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6971 -0.77% -1.41% -1.79% 2.78% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2833 -0.95% 0.24% 0.35% 3.35% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6068 0.57% -0.88% -1.73% 2.48% GREPALIFE BALANCED FUND CORPORATION -A 1.3433 -0.32% N.A. N.A. 2.99% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9102 2.54% 0.79% 1.07% 3.64% PAMI HORIZON FUND, INC. -A 3.6543 0.53% -0.58% 0.08% 3.54% PHILAM FUND, INC. -A 16.4902 1.59% -0.37% 0.16% 3.66% SOLIDARITAS FUND, INC. -A 2.1241 1.44% 0.95% 1.64% 2.5% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8123 2.99% 0.73% 1.12% 4.41% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9902 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9843 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9817 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9761 3.3% 0.95% N.A. 5.9% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03663 5.23% 0.89% 1.55% 3.91% PAMI ASIA BALANCED FUND, INC. -A $0.9484 -9.31% 2.95% -1.38% 1.3% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6485 - 0.61% 5.49% 2.4% 10.28% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0842 0.81% 3.43% N.A. 7.35% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 348.96 3.08% 2.04% 2.12% 1.63% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8873 1.74% -0.29% -0.36% 1.51% COCOLIFE FIXED INCOME FUND, INC. -A 3.037 5.46% 5.28% 5.28% 2.23% EKKLESIA MUTUAL FUND INC. -A 2.168 2.53% 1.05% 1.62% 1.76% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2751 2.54% 0.57% 0.98% 2.98% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6049 1.82% -0.81% -0.04% 2.59% PHILAM BOND FUND, INC. -A 4.0794 2.66% -0.46% 0.59% 4.07% PHILEQUITY PESO BOND FUND, INC. -A 3.6299 4.07% 1.11% 1.01% 3.21% SOLDIVO BOND FUND, INC. -A 0.9244 1.74% -0.7% N.A. 3.56% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9083 6.15% 1.47% 1.65% 5.15% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6129 5.79% 0.93% 1.21% 4.74% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $455.92 3.2% 1.84% 2.72% 1.7% ALFM EURO BOND FUND, INC. -A Є216.01 1.55% 1.43% 1.45% 1.58% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1715 5.44% 1.69% 2.1% 4.06% 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 1.21% -1.27% 0.61% 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 $1.0721 3.89% -0.26% -2.17% 3.32% PHILAM DOLLAR BOND FUND, INC. -A $2.2859 6.69% 0.83% 2.65% 5.28% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0585961 3.51% 1.35% 1.69% 2.83% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0057 4.27% 0.2% 2.07% 4.65% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.04 3.54% 2.31% 1.86% 1.82% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0121 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2039 3.17% 1.42% 0.89% 1.86% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2397 3.54% 2.57% 1.95% 1.7% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.026 2.11% N.A. N.A. 0.99% 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

Banking&Finance BusinessMirror

Wednesday, May 29, 2019

Contained inflation, ample liquidity lure investors to government securities

CONTAINED inflation environment is luring investors to government securities as the Bureau of the Treasury (BTr) fully awarded on Tuesday the 10-year reissued Treasury bonds (T-bonds) on offer.

Our sovereign rating upgrade

TANDARD & Poor’s (S&P) issued on April 30, 2019, a credit rating upgrade of the Philippines, from BBB to “BBB+, stable.” This brings the country to equal Thailand’s rating, to a notch higher than Indonesia’s “BBB, stable” and a notch lower than Malaysia’s “A-, stable.” The description “stable” means that the grade is expected will be maintained in the next one to two years. “We raised the rating,” S&P explains, “to reflect the Philippines’s strong economic growth trajectory, which we expect to continue to drive constructive development outcomes and underpin broader credit metrics over the medium term. The rating is also supported by solid government fiscal accounts, low public indebtedness and the economy’s sound external settings.” S&P notes the “consistently aboveaverage economic growth” and makes the forecast of 6.3-percent growth in 2019, 6.5 percent 2020, 6.6 percent in 2021 and 6.7 percent in2022, reflecting a sustained economic growth. It is instructive to understand the methodology which a credit rating agency follows to arrive at its credit rating. While it is an opinion, the bases for these are important to be publicly known to develop confidence in its thoroughness, objectivity, fairness and consistency assuring that there is overall competence and integrity behind the process. In this regard, credit rating agencies have been very transparent by publishing their rating methodologies in fairly good detail. In the case of S&P, for example, which gave the Philippines its highest sovereign rating so far, they follow a “Sovereign Issuer Criteria Framework” identifying five key areas for inquiry: n Institutional assessment; n Economic assessment; n External assessment; n Fiscal assessment; and n Monetary assessment For the reader’s convenience, we have extracted this summarized information from S&P “Sovereign Rating Methodology” dated December 18, 2017, readily available from the Internet, all of 39 pages. Here are the abbreviated meanings of the assessment factors: “The institutional assessment reflects how a government’s institutions and policy-making affect a sovereign’s credit fundamentals by delivering sustainable public finances, promoting balanced economic growth, and responding to economic or political shocks.” The economic assessment considers “the country’s income levels

FINEX FREE ENTERPRISE Santiago F. Dumlao Jr. as measured by its gross domestic product (GDP) per capita, indicating broader potential tax and funding bases upon which to draw, which generally supports credit worthiness; growth prospects; and its economic diversity and volatility.” External assessment looks at “the status of a sovereign’s currency in international transactions; the country’s external liquidity…and the country’s external position.” Fiscal assessment considers “the sustainability of a sovereign’s deficits and its debt burden.” Finally, monetary assessment considers the monetary authority’s ability to fulfill its mandate while sustaining a balanced economy and attenuating any major economic or financial shocks.” The assignment of a particular rating by a rating agency is a structured disciplined process consistently applied, and requires the observance of established metrics and professional standards. The judgment of the financial markets which use the ratings is the ultimate test of credibility. Hence, rating agencies are sensitive to their responsibilities and to upholding their reputation for good, trustworthy credit opinions. A sovereign rating reflects a composite picture of a country’s state of the economy, its growth and potential. A good rating makes for cheaper cost of borrowing in the international capital markets. But more than this, it promotes the country as a worthy investment destination. And not the least, it measures the performance of a country’s economic managers, both in government and the private sector. A credit rating upgrade is certainly something to fuss about as a collective effort. S&P makes the observation that “the Philippine economy is among the fastest-growing in the world on a 10-year weighted average, per capita basis—a reflection of its supportive policy dynamics and improving investment climate. The country has a relatively diversified economy with an increasingly strong track record of high and stable growth.” S&P expects the country’s GDP per capita to rise to $3,400 in 2019. Most unfortunately, our growth in GDP does not translate, and has not been translated, to a significant reduction of poverty. It’s a pity.

TROO INVESTMENT This photo courtesy of East West Banking Corp. shows (from left)

Troo Corp. Chief Strategy and Business Development Officer Dominik Smeets, Troo Corp. President and CEO Hans Loozekoot, EWBC Vice Chairman and CEO Antonio C. Moncupa Jr. and EWBC President and Deputy CEO Jesus Roberto S. Reyes. EWBC, a subsidiary of the Filinvest Development Corp., celebrated the anniversary of Troo Corp. with the launch of an investment product.

Bids were more than thrice oversubscribed and rates fell by more than 30 basis points. “Great results, more than three times oversubscribed, at 31 basis points lower than the previous [rate]. Actually this is basically positioning,” Deputy Treasurer Erwin D. Sta. Ana told reporters. Sta. Ana said he thinks results of Tuesday’s auction were in anticipation of the first cut

on monetary rates by the end of the week Bangko Sentral ng Pilipinas (BSP). “So, obviously, there is ample liquidity in the system. They [investors] are opting to park funds in government securities and, of course, we cannot deny the fact that the inflation environment is very much contained at this point,” Sta. Ana said. “So that’s where the demand is coming from.”

Bids for the reissued T-bond reached as much as P65.840 billion. The average annual rate saw a contraction of a total of 31 basis points compared to the previous auction rate of 5.954 percent; the rate settled at 5.644 percent during Tuesday’s auction. “We just settled our foreign currency issuances and been receiving good turnouts in auctions [for] both bills and bonds so we are sit-

ting on a good cash position,” Sta. Ana explained. “With this market backdrop, I think there’s a strong case for further reduction in interest rates moving forward.” He said this was what National Treasurer Rosalia V. de Leon “has been saying all along: [that] because [of] easing inflation, there’s injection of liquidity, so there could be some further decline in rates.” Rea Cu

Union Bank creates fintech unit, UBX L ENDER Union Bank of the Philippines Inc. (UnionBank) has created its financial technology unit UBX, which will hold its technology initiatives, platforms and investments in fintech companies. “UBX is a manifestation of transformation of UnionBank’s ‘dual transformation’ road map, where we want to cocreate businesses and financial services that technology will unlock,” UBX President and CEO John Januszczak said, referring to the second phase of its so-called transformation that started in 2016. The bank’s first phase of transformation was on becoming the country’s “Best Digital Bank”— a target accomplished after it bagged several awards. “It’s a new entity that operates separately from UnionBank and is designed to be like a fintech company,” Januszczak said. “With UBX, we want to usher in the age of embedded banking in the Philippines, where banking services are woven into the very fabric of everyday life.” Initially, UBX will leverage on two products incubated in UnionBank. These are UnionBank GlobalLinker, which is an e-business networking platform and Project i2i, a blockchain-supported platform that connects rural banks and cooperatives to other financial institutions in the country. UBX said it also inked its first investment deal with Shiptek

Security Bank names expat as new president

ECURITY Bank Corp. confirmed on Tuesday it chose an expatriate as new president with current President and CEO Alfonso L. Salcedo Jr. due for retirement. During its regular board meeting on Tuesday, Sanjiv Vohra was named as president and chief executive officer effective July 1, 2019, subject to regulatory approvals. Salcedo will remain as director and will chair the Executive Committee of the firm listed in the Philippine Stock Exchange. Chairman Alberto S. Villarosa said the organizational changes reflect the bank’s focus on ensuring the continuity of the overall business strategy formulation and execution. “With the appointment of Sanjiv Vohra, the bank is manifesting the institution’s commitment to professionalism and to bringing in leaders who not only understand the Philippine market but the global markets, as well,” Villarosa was quoted in a statement as saying. “The banking business is truly becoming globalized and cross-border transactions, partnerships and alliances are now becoming the new normal. Sanjiv has deep experience in banking, having held a number of senior leadership positions [of banks and firms] in Asia as well as experience in the domestic market during his eight years as country head of Citibank Philippines. I am confident that he can bring Security Bank to the next level,” he added. Bianca Cuaresma

Solutions Corp., a developer of end-to-end digital logistics platform known as XLOG and is owned by the Ynion Group, a two-year-old logistics services provider. “One of the numerous advantages of being a fintech company today is that regulation is not as strict compared to banks. This allows more room for thinking ‘outside-the-box’ and implementing new services that those in traditional banking and finance may consider too ‘out-in-left-field.’ That is what we want to happen with UBX,” Januszczak said. UBX’s expertise in technology development and blockchain is seen to further power XLOG’s end-to-end supply chain solution

that consolidates shipping, warehousing, trucking and customs brokerage. Januszczak said they will move to “cocreate innovations” with companies who also like to use “transformative experiences” for customers. “Apart from developing platforms to go to market with business models that are beyond banking, we will also invest in capabilities and pl atfor ms t hat share t he s a me objec t ive,” Januszczak said. UBX, which registered with the Securities and Exchange Commission

in December last year, said it is targeting the expansion of e-commerce access for the unbanked and underbanked by connecting these communities with extensive. VG Cabuag

B4 Wednesday, May 29, 2019

WIDUS SECURES P7-B LOAN DEAL FOR EXPANSION PROJECT HYUNDAI BAGS EXCELLENCE AWARD AT GLOBAL CV SERVICE CONFERENCE

N A pr i l 24 Hy u nd a i A si a Resources Inc. (Har i), t he official distributor of Hyundai passenger cars and commercial vehicles in the Philippines, won the Service Excellence Award for Best Service Operations at the 2019 Hyundai CV Global Service Conference held in Seoul, South Korea. This triumph is the latest in a long line of awards that Hari has won since entering the commercial-vehicle

industry in 2016, after securing the Philippine distributorship of Hyundai trucks and buses. In March Hari won the 2018 Regional Distributor of the Year in Asia-Pacific/Russia and CIS at the Hyundai Truck and Bus Regional Convention in Cebu City. L a s t O c t o b e r t h e Ph i l i p p i ne aftersales service team won the first Hyundai Truck and Bus World Skill Olympics in South Korea. Early last year, Hari was also awarded the 2017

Regional Excellence Award for Asia Pacific, beating 15 other regional dealerships, at the 2018 Hyundai truck and bus global distributor convention. Hari President and Chief Executive Officer Ma. Fe Perez-Agudo said, “We welcome this latest recognition that validates our decision to push for the distributorship of Hyundai trucks and buses along with passenger cars. Hari can proudly say that both divisions are multi-awarded and recognized in the global Hyundai community.” The award was conferred by DK Kwon of t he Hy und a i Motor Co. commercial vehicle service division, at the end of the two-day global ser v ice con ference. D i st r ibutors from around the world gathered in Seoul, South Korea, to share best practices in the commercial-vehicle industr y and to enhance truck and bus-ser vice capabilities. Apart from Hari, awardees for service excellence included distributors from Algeria for service enhancement, Russia for marketing, and Colombia for service cooperation. “Our award-winning commercial vehicle ser vice is now available in 11 dedicated dealerships across the countr y, with more in the pipeline,” Agudo added.

IDUS Philippines Inc. (WPI), owner and proprietor of Widus Hotel and Casino Clark, secured a P7billion syndicated term loan with Asia United Bank Corp. (AUB) and Union Bank of the Philippines (UB). WPI President and owner Daesik Han, and WPI corporate secretary and treasurer Mitchell Estacio inked the omnibus loan and security agreements with AUB as the mandated lead arranger and bookrunner, and UB was as the joint lead arranger. Proceeds from the term-loan facility will be used to further finance the ongoing expansion of Widus at the freeport area. “This additional investment from our bank partners will

be used to support our Tower Four project....,” Estacio said. Set to rise on an approximately 22,000-square-meter land beside Clark Marriot, Estacio described Tower Four to be “an iconic hospitality landmark” in the economic zone once completed in 2020. The 19-story luxury property will feature 380 wellappointed rooms, a new casino along with luxurious 5-Star facilities and amenities, such as specialty dining options, retail outlets, swimming pool, executive lounge, plus event venues such as ballroom and function rooms. Tower Four is estimated to dramatically increase employment by creating over 1,000 job opportunities by 2022, adding more value to its community.

MCJIM HOLDS FIRST GET REEL MOBILE SHORTS FILM FEST

ORLD-CLASS leather brand McJim Classic Leather invites filmmakers— students, amateurs and professionals—to submit entries to the first-ever Get Reel Mobile Shorts Film Festival 2019, a competition that celebrates the values, aspirations and vision of the modern Filipino gentleman. “Get Reel Mobile Shorts Film Festival 2019 aims to inspire filmmakers to create moving, relatable and distinctly Filipino narratives that will be screened online,” festival director and award-winning filmmaker Chris Cahilig says. For the past two years McJim has collaborated with Cahilig in creating memorable, viral and critically acclaimed short films that won the hearts of millions of netizens across the globe. Three of the short films, titled Pitaka, Bag and Sinturon, have competed in over 60 prestigious international film festivals, winning four awards, so far, including Best Digital Ad (Branded) in the 2018 Catholic Mass Media Awards (CMMA). Eligible entries will have the chance to win a total of P190,000 worth of cash prizes in eight different categories, including The McJim Prize for the festival’s Best Short Film. The eight categories are: The McJim Prize for Best Short Film (P50,000); Get Reel Viral Film Award (P25,000); Best Comedy Short Film (P25,000); Best Action, Thriller, or Horror Short Film (P25,000); Best Drama Short Film (P25,000); Best Inspirational Story (P10,000); Best in Cinematography (P10,000); Best Actor

(P10,000); and Best Actress (P10,000). The festival is open to all Filipino filmmakers. All entries must be filmed using a mobile device, and recorded, submitted and edited in not less than 720 HD format, although using 1080 HD format is highly recommended. The minimum length must be two (2) minutes and the maximum length must be ten (10) minutes, including opening and closing credits. Get Reel accepts films of all genres. However, they must use any McJim Classic Leather products (bags, belts and wallets) as an organic part of the narratives. Submission must be done via e-mail at mcjimtv@gmail.com. A panel of judges will determine the finalists and winners through a deliberation. No film entry shall be an imitation or plagiarized version of any copyrighted work. Get Reel Mobile Shorts Film Festival and its organizers will not be responsible for any copyright infringement committed by the participants. The deadline for submission is on June 30. The finalists will be announced on July 15, and the winners will be awarded on August 30. Participating filmmakers must be willing to have their works posted on various socialmedia accounts of McJim Classic Leather and Insight 360 Consultancy Services Inc.

COCA-COLA CHARITY GOLF CLASSIC 2019 RAISES OVER P3 M FOR HOST-COMMUNITY PROJECTS

OCA-COLA Beverages Philippines Inc. (CCBPI) and the Coca-Cola Foundation Philippines Inc. recently held the Coca-Cola Charity Golf Classic 2019, which raised approximately P3.4 million in sponsorships and donations from attendees and valuable partners. This shared achievement as one Coca-Cola family signifies new opportunities for beneficiaries all over the country, as it attests to Coca-Cola’s aim to go beyond good in changing people’s lives for the better. The fun-filled charity golf tournament, which was held at Santa Elena Golf Club in Santa Rosa, Laguna, signals the return of a tradition that began in 2003. This year the meet was revived in order to encourage more people of helping Coca-Cola further its goal of building stronger communities. The event attracted more than 110 participants, including toplevel executives and officials of some of the country’s leading companies across various industries. “The tournament is not just about fun and forging stronger ties with our partners in the business industry who have made it possible for

Coca-Cola to be in the Philippines for 107 years,” says Gareth McGeown, president and chief executive officer of CCBPI. This day is about camaraderie and malasakit, as we work toward a common goal. I am very proud that our partners in the business community—as one Coca-Cola family—are here today to manifest their support for all the communities we will be helping.” Representatives from Coca-Cola’s top customers, such as McDonald’s, Shakey’s, Army Navy, SM Entertainment Lifestyle, Family Mart, Phoenix and 7/11, were among key participants, manifesting the strengthening of our shared goals. Representatives from partners in the business, such as Indorama Philippines, Hino Motors Philippines Corp., Marsh Philippines Inc., San Miguel Yamamura Packaging Corp. and First Gen Corp., likewise, took part in the charity event. The mounting of the Golf Classic coincides with Coca-Cola’s 107th year in the Philippines, and is one of the many tangible manifestations of the company striving to be a positive member of the communities it operates in. Proceeds of the Coca-Cola Charity Golf Classic will be used for corporate social-responsibility programs that will benefit children, senior citizens and the environment in CCBPI’s host communities nationwide. In photo is the overall team champion: (from left) Primo Peñaranda, lawyer Fabian de los Santos (SGV), Jose Leonardo Tañada and lawyer Wilfredo Villanueva (SGV).

NEW CHALLENGE FOR WARRIORS

Sports BusinessMirror

| Wednesday, May 29, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Janie Mccauley The Associated Press

AKLAND, California—After four straight years of facing LeBron James and Cleveland in the National Basketball Association (NBA) Finals, this feels refreshing for the two-time defending champion Warriors. “For sure,” Shaun Livingston said with a smile of taking on the upstart Raptors, “for sure, we’ll leave it right there.” Off to Toronto, finally a fresh team that’s tops from the East. Golden State is embracing every part of this new-look—well, the other half of it, at least—finals. “I love it,” Stephen Curry said on Monday following Golden State’s first game-planning practice ahead of the series opener on Thursday night in Toronto. The Warriors coaches

gathered on Sunday to prep once they had an opponent, with the players taking a day off. Golden State is wellrested after wrapping up its Western Conference finals sweep of Portland on May 20—giving the Warriors nine full days off between games. Toronto won the Eastern Conference finals with a Game Six victory against Milwaukee on Saturday. This certainly isn’t the familiar Cavaliers. “That was the exception. This is more the rule,” Coach Steve Kerr said. “You’re not supposed to play the same team every year. So that was a special era, a special rivalry and we’re thrilled to

be back. Cleveland has moved on and their team has broken up and with LeBron leaving the East, things were wide open. “It was a hell of a ride through that East playoffs for Philly, Boston, Milwaukee, Toronto, all great teams, quality of play was something to watch. Toronto obviously emerged as the best team of the East and well deserved. The scene the other night was amazing to watch, too. The fans in Toronto have been amazing over the years. I’ve compared that arena to Oracle many times. When I was in broadcasting both the Raptors and the Warriors were really bad and yet every time I went to either arena there was this organic energy that felt so much alike, so similar. And there’s just a genuine love for the game in both regions.” No chance of Golden State getting complacent preparing for the same opponent again in its quest for a three-peat. This is the last hurrah for Oracle Arena, too, before the Warriors move across the bay to new Chase Center for next season. “Everybody talks about it’s hard to find that edge and get up for, [you] find some sort of monotony—I don’t know if you find that in the finals—that’s part of human nature that you fight,” Curry said. “So us getting on a plane tomorrow to go to Toronto, different energy, different city, different views, everything, should prepare us to lock understanding we have a prime opportunity to start off this finals series on the road, and get a win and set the tone for how it’s going to be. “So I like the challenge and the unfamiliarity of this kind of schedule and flow. We’ve been there before, we’ve experienced a lot and this is I think something we’re capable of doing.” The Warriors are motivated by everything that will be new for these finals. “You get to go to a different city,” Livingston said. “It was similar to what we did last year with Houston, starting on the road, just that sense of urgency, it’s something different we haven’t done in the last four or five years being the top seed. Now starting the finals it’s

something new for us. It’s a challenge that we haven’t had to face yet, so this is good for us.” While center DeMarcus Cousins scrimmaged on Monday for the second time since going down with a torn left quadriceps muscle in Game Two of the first round against the Clippers, he is listed as questionable for the series opener. Cousins had returned January 18 from a nearly yearlong absence following surgery for a torn left Achilles tendon only to get hurt again—a tough blow in his first career playoffs. Now, jumping right back in on the finals stage will be tough. “It’s a lot to ask,” Kerr said, without completely ruling out the chance Cousins could be cleared to return by Thursday. Two-time reigning Finals MVP Kevin Durant won’t play Game One as he continues to recover from a strained right calf. Curry has a special affinity for Toronto, where he spent two years in middle school when his dad, Dell, played for the Raptors from 2000-2002. Curry’s wife, Ayesha, grew up outside Toronto. “I still don’t think it’s sunk in this is for the finals, so pretty special,” Curry said. He will be focused on bringing home Golden State’s third straight title and fourth in five years—an NBA Finals MVP would mean so much—yet, can still appreciate what Toronto is experiencing at last. “In what 24 years of their existence and for them to finally get over the hump, you could tell how much it meant. The city was going crazy,” Curry said. “It looked like they had won the championship already the way that they were celebrating. It’s the first time there, so the fans really got into it. It looked like a crazy atmosphere. In that short 24 years there’s a lot of history and there were some great teams. I think it was 2002 the team my dad was on with Vince [Carter], Antonio Davis, Alvin Williams.... They’ve gotten close and obviously the last couple years they’ve been struggling with Cleveland. There’s a lot of passion up there for the game of basketball, for the Raptors. You could tell how much it meant.”

STEPHEN CURRY: Different energy, different city, different views. AP

GOLDEN State’s Klay Thompson hugs teammate Jonas Jerebko at the end of Game Four of their Western Conference finals against Portland. AP

THOMPSON ADDS MEDITATION TO MENTAL PREPARATION O AKLAND, California—Klay Thompson craved a little calm. The Golden State guard needed something more to balance out his basketball routine, so he added meditation to help him get centered before games and better deal with the pressures of National Basketball Association (NBA)life. Flip on some classical music or nature sounds and he’s ready to relax his mind. It takes consistent practice, just like that pretty jumper. “I try to go 30 minutes,” said Thompson, who is joined for some sessions by bulldog bestie, Rocco. “It’s hard. It’s very hard. An hour would be nice, but you’ve got to work up to that.” Thompson is in a good place right now, going to a fifth straight NBA Finals and chasing a three-peat with the Golden State Warriors. Two-time reigning Finals MVP Kevin Durant sat out injured for the entire Western Conference finals, leaving Thompson and Splash Brother Stephen Curry to take on an even greater load on both ends. Thompson heads into Game One at Toronto on Thursday night averaging 19.1 points these playoffs, having scored 22.6 points per game in the five contests

without Durant. Mental preparation off the court is a major reason Thompson no longer lets things fester or bring him down, such as a tough loss or bad outing. He has said that earlier in his career it was hard to let go after games. Now, he instead shrugs off a poor shooting performance with the simple notion of, “That’s the way the basketball gods can be.” Then, it’s back to work. Left off the All-NBA team? “Oh, I didn’t?” he replied when told he hadn’t made the cut. Thompson did allow himself a little eye roll in disbelief, before adding: “It is what it is. I can’t control it. Do I think there’s that many guards better than me in the league? No, but that’s the reason why we’re still playing. So, I don’t even want to get into it, honestly.” The more media shy, under-the-radar of Golden State’s sensational backcourt—Curry is a two-time MVP—a slumping Thompson once held his hand up near his face and uttered “I missed you” when he finally got on a roll again at Portland on December 29. He credits meditation in part for how far he has come in handling everything as he wraps up his eighth NBA season. Thompson added meditation and visualization into

his routine the last couple of years. This is the typically stoic guard who plunged into the Pacific Ocean in Southern California before Game Four of the first round against the Clippers following a performance that wasn’t up to his “standards.” He went out and scored 32 after that with six 3-pointers, hitting his first seven shots. “The mind’s so powerful. Just try to train the mind to deal with adversity in situations that are unpleasant but make you better in the long run, that’s what I try to do,” Thompson said when asked how he got involved meditation. “Just a lot of reading on the Internet and learning from Coach [Steve] Kerr. Learned from Tony Robbins, too. It was cool talking to him last year. He had a great outlook on things. Just from veteran players. David West taught me a lot about that side of the game, the mental part.” Teammate Shaun Livingston can picture Thompson in a moment of complete serenity and peace—”100 percent, nothing would surprise me.” Dr. Michael Gervais, a high-performance psychologist who has worked closely with the Seattle Seahawks, NBA players, USA Volleyball and other Olympic athletes, applauds Thompson taking up meditation on his own. “So often we hold up world-leading athletes on a

pedestal for their physical abilities, missing the deeper and extraordinary commitment they make toward pursuing their potential,” Gervais said. “There are only three things we can train as humans: our craft, our bodies and our mind. Worldclass athletes don’t leave any of those up to chance—why should the rest of us?” When he had a couple of days off after the Warriors wrapped up the Western Conference finals, Thompson noted, “I wish it was sunny” before adding, “A little overcast, but it’s all good.” Sure is. Thompson found out in April he will have his college jersey retired by Washington State, too. “Klay is always someone who everybody sort of marvels at his life, the simplicity of his life. He just needs a basketball and his dog, and that’s it. And we all laugh about it,” Kerr said. “But Klay is a lot deeper than people realize, so it doesn’t surprise me that he’s meditating and he’s found ways to calm himself before games and keep himself going during the season.” The 29-year-old Thompson takes time the night before a game to think ahead. It doesn’t matter if he’s in the driveway or hanging out in his backyard with

beloved Rocco—”just random,” he said. Sometimes he envisions each shot from a given spot on the floor that could present itself over the course of a game. “Andre Iguodala told me that Tiger Woods visualizes every single shot he shoots on 18 holes on the golf course, so if he can do that, that’s incredible,” Thompson said. “That’s so many golf swings. I try to do the same approach to basketball. I just try to visualize, get in my spots, what my opponent is going to do. Yeah, so when you come to the game, you’ve kind of seen it before.” He might go with some Mozart or Beethoven. “Try to put on classical Pandora or some nature sounds. Can’t listen to rap or hip-hop when I do it because then I just get distracted. Something pleasant in the background, it’s nice,” Thompson explained. “It’s a challenge. It’s much harder than working out. Especially for me, I’ve got like my mind racing. So it’s a good practice for me.” Kerr considers Thompson one of the most down-toearth NBA superstars. “He’s a dream to coach. He’s zero maintenance,” Kerr said. “But he’ll surprise you with his depth. You may not think there’s a whole lot there, but there’s plenty there, he just sort of doesn’t let you in on it very often.” Thompson knows it’s not a perfect science to get his shot back on track after a poor outing. The meditation provides a focus. AP

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C2 Wednesday, May 29, 2019

SAMOAN P.M., 74, QUALIFIES FOR PACIFIC GAMES ARCHERY

AMOA Prime Minister Tuilaepa Sailele Malielegaoi will represent his country in archery at the 2019 Pacific Games after he progressed through trials. The 74-year-old competed for Samoa at the 2007 Pacific Games, the last time the country hosted the event. He became the first prime minister to participate in an international sports competition, winning a silver medal. “Not too many sports around the world would get the prime minister involved in the Games, which is very impressive,” said James Larven, the technical delegate for archery. “It is very rare for any country to have the Prime Minister involved.” Archery will be held from July 9 to 12 at Faleata Sports Field in Apia, with competition taking place in compound and recurve events. “We need to practice as often as possible to improve our shooting style,” Tuilaepa said after the trial event. “We know the techniques and we need to perfect our techniques. “It’s the same techniques that we also used in the last Games that were held here

and we believe strongly in the principle that practice makes perfect,” he said. “This is our first tournament to get our team in place and I would imagine that this will continue, so that by the time of the Games we should have a very good and strong team to represent Samoa.” Three Samoan taekwondo athletes, meanwhile, have been named to the host nation’s squad for this year’s Pacific Games after earning their black belts. Paul Raki, Theresa Magele and Asomua Saili have reached the top grade under the tutelage of Australian grandmaster Frank Frost. It means they are eligible to compete at the Pacific Games, which Samoa will host in its capital Apia between July 7 and 20. “I’m thankful that Grandmaster Frost is here to do our grading for our black belt so we can qualify for the Pacific Games, and I’m happy to complete this phase,” said 16-year-old Magele to the Samoa Observer. The Samoan taekwondo team is now looking for high-level competition overseas to prepare them for their home Games. Insidethegames

MEMBERS of the Philippine National Team represented by Philippine Navy-Standard Insurance of Coach Ronald Gorrantes, Go For Gold of team owner Jeremy Go and Coach Ednalyn Hualda, and 7-Eleven Cliqq Air21 Roadbike Philippines of manager Rick Rodriguez, stike a pose with PhiCycling Chairman Bert Lina, Secretary-General Atty. Billy Sumagui and commissaries Jun Lomibao and Carlos Gredonia, as well as Le Tour de Filipinas Chairman Donna May Lina and Cignal TV’s One Sports Marketing Head Rafi Silerio. NONIE REYES

10 YEARS OF CYCLING F

OUR local teams lead the country’s campaign in the 10th edition of the International Cycling Union (UCI)-sanctioned Le Tour de Filipinas that will bring the riders from the cool hills of Tagaytay City, the majestic Mayon Volcano and the scenic mountains of Sorsogon next month. The Category 2.2 race, organized by Ube Media Inc., will be a five-day bikefest from June 14 to 18. Seventy-five riders from 15 teams are competing—with four local squads holding the fort against the strong crew of international cyclists. Making the race more valuable for the Filipino riders is the opportunity to snare qualifying points for Olympic hopefuls. Le Tour Chairman Donna Lina said they prepared tough stages to exploit the strength of each participant. “It’s the 10th year, and like in the previous

editions, the riders will face challenges the elements offer, thus squeezing out the best of the best in the sports spectacle on two wheels,” Lina told the press conference on Tuesday at a Pasay City hotel. Stage One kicks off in Tagaytay City with a 129.5-km out-and-back course. Participants will then travel to Lucena City where they will spend the night before negotiating the 194.9-km Pagbilao to Daet, Camarines Norte, Stage Two. Stage Three will offer a 183.7-km course from Daet to Legazpi City, while Stage Four covers a 176-km race from Legazpi via Sorsogon and Gubat and back to the Albay capital. The last stage will again see the riders racing on an out-and-back course in Legazpi City via Donsol, Sorsogon, covering 145.8 kms. The total distance covered is 822.20 kms. El Joshua Cariño of the Philippine NavyStandard Insurance—which will race under the national team colors—will defend his title

against a strong field composed of seasoned veterans. 7-Eleven Cliqq Air21 Roadbike Philippines, Go for Gold and Bike X Philippines are the other Philippine teams. Among those who joined Lina in the press conference were National Team Coach Ronald Gorrantes, Go For Gold team owner Jeremy Go and Coach Ednalyn Hualda, and 7-Eleven team manager Rick Rodriguez, as well as PhiCycling Chairman Bert Lina, Secretary-General Atty. Billy Sumagui and commissaries Jun Lomibao and Carlos Gredonia, and Cignal TV’s One Sports Marketing Head Rafi Silerio. To celebrate a decade of racing, organizer Ube Media Inc. got the UCI’s nod to extend the race from four to five stages. “The Le Tour de Filipinas continues its advocacy in promoting international peace, goodwill, health, tourism and environment,” Donna Lina said. “And to emphasize this advocacy, the race has been

elevated to five stages.” The riders, again representing more than a dozen nationalities, will cover a total distance of 822.20 km. “It’s the 10th year, and like in the previous editions, the riders will face challenges the elements offer, thus, squeezing out the best of the best in this sports spectacle on two wheels,” Donna Lina said. Donna Lina, in further stressing the Le Tour de Filipinas’s decade-long successful run— thank the race’s stakeholders for helping keep the Philippines in its rightful niche in the world cycling map. “From the various government agencies and departments to the local government units— the police and army and barangay tanods who help ensure the safety of the race—to everyone in the race organization—race officials and secretariat and organizers—the success of the Le Tour de Filipinas is your success,” Donna Lina stressed. Ramon Rafael Bonilla

Weightlifting federation sternly warns members of consequences of doping

HE International Weightlifting Federation (IWF) has written to each of its 193 memberfederations with a stark warning that a repeat of the doping problems of the past could have “irrevocable” consequences for the sport. “Our fight against doping and for clean weightlifting is not ended at all,” said Tamas Ajan, the IWF president, in a letter to all member-federations that is also signed by General Secretary Mohammed Jalood. Two months ago the sport was celebrating when the International Olympic Committee (IOC) lifted its “conditional inclusion” status for weightlifting on the Olympic Games program.

The sport had been effectively put on probation beyond Tokyo 2020 because of its poor record on doping violations, 55 of which were revealed by tests carried out by the IOC on stored samples from Beijing 2008 and London 2012. The March 26 decision to welcome weightlifting back on a permanent basis was made by the IOC’s executive board after the IWF toughened its stance against doping with a number of radical changes, most notably the adoption of a new Olympic qualifying system that rewarded “clean” nations. It was subject to the IWF putting its antidoping program in the hands of the Independent

Testing Agency (ITA), a process that began last November and ended on May 7 when the second agreement was signed at the SportAccord convention in Australia. Within 10 days of that agreement, the IWF’s letter began to arrive at national governing bodies across the world. “We wanted to remind them that it’s not just a case, now that we have had the IOC decision, of returning to the old system,” said Attila Adamfi, the IWF’s director general. “It was not a reaction to a particular comment by the IOC, but we wanted to reiterate and remind member-federations that a cultural change is needed.

US, Fiji, NZ earn slots to Tokyo 2020 sevens

ONDON—The United States, Fiji and New Zealand qualified for the Tokyo Olympics in rugby sevens after making the London Sevens quarterfinals on Saturday. The top 4 from the ongoing sevens world series automatically qualify, and the leading three guaranteed their berths. South Africa, fourth in the series standings, has almost locked up the fourth qualifying spot after winning its pool and seeing nearest rival England fail to reach the quarterfinals of its home event at Twickenham. South Africa was the most impressive in pool play, going unbeaten in putting 49 points on Japan, 45 on Canada and 40 on Argentina. Fiji, the Olympic champion, was made to fret by only Samoa, which led 17-14 until Fiji newcomer Asaeli Tuivuaka scored the go-ahead try and Waisea Nacuqu got the insurance try in injury time for 26-17.

The US, the only team to reach at least the semifinals at every series stop, knocked off Spain and Wales but was under pressure from Australia. When American Steve Tomasin was sin-binned, Australia pounced to lead 17-12. But Tomasin came back to score a try from his own half, and Madison Hughes made the conversion for the US to win 19-17 and stay unbeaten. England was in trouble from the first game, where it lost to Ireland, 21-17. The English came back in a thrilling second half to lead, 17-14, with time almost up, but Irish replacement Mike McGrath, on debut, raced through to score. In the meantime, New Zealand comfortably beat Scotland and Ireland, and left England needing to beat the Kiwis by 10 to reach the quarterfinals. England led, 17-7, until a Tone Ng Shiu try limited its bittersweet win to 17-12. AP

BEST Center basketball, volleyball clinics up

HE Ateneo covered courts will again host volleyball and basketball classes offered by the multiawarded Basketball Efficiency and Scientific Training (BEST) Center. The clinics will run from June 4 to 15 and will be held on Tuesdays, Thursdays and Saturdays from 8 to 11:30 a.m.

The basketball clinics will be for students in the Preparatory Level and Levels 1, 2, 3 and 4. Levels 1, 2 and 3 are offered in volleyball. The event is sponsored by Milo and supported by Rain or Shine, Chris Sports and SKLZ. For details, call 372-3065 or 411-6260 or e-mail bestcenter.inquiry@gmail.com.

“We are continually trying to change the culture of weightlifting in some countries.” The letter from Ajan and Jalood reads: “A short while ago, we were pleased to share with you the good news that the IOC had lifted the status of conditional inclusion of weightlifting in the program of the Olympic Games Paris 2024—subject to finalization of the agreement between IWF and the International Testing Agency. “Now, we are happy to inform you that the IWF has fulfilled this last condition as well—the IWF-ITA agreement has been signed—so the IOC enforces with immediate effect the lifting of our status of conditional inclusion. Insidethegames

SAMOA’S Tuilaepa Sailele Malielegaoi is the first prime minister to participate in an international sports competition.

Argentine women seek more at World Cup after equality fight

UENOS AIRES, Argentina—Exhausted players lie scattered on a field at Argentina’s national team training complex on the outskirts of Buenos Aires after a double dose of training, including an exhibition against a teenage men’s team. The concerns about things like a lack of uniforms and the refusal to allow them on fields previously used exclusively by men are in the past. Now Argentina’s women’s national team is focused on trying to get its first win in a Women’s World Cup when the tournament kicks off in France. “Most of this group is coming with a background filled of disappointment. For us it would be an award for so many years fighting,” goalkeeper Gabriela Garton told The Associated Press. Garton spends half her day in soccer and the other in a master’s program in sociology. Argentinian players who are taking the team to its first Women’s World Cup in 12 years helped organize a strike in 2017 after their stipends went unpaid, kicking off a movement for equality that eventually pushed the country’s soccer association to grant the national women’s league professional status. The complaints from Argentinian players

coincided with the country’s feminist movement that has taken to the streets with marches against violence and inequality. “Soccer was this last place that was so hard to break the barriers and come in. This year the dam opened and I hope it remains this way,” Garton said. The milestones have included women playing one of their league games in Boca Juniors’ historic La Bombonera stadium earlier this year, the first time an official women’s game was played in the stadium. The game was held prior to a Boca Juniors-San Lorenzo men’s game. Argentinian players have also enjoyed some visibility advertising sportswear, household appliances and even a special edition of the historic Panini World Cup sticker book. It’s totally new for women who not long ago were invisible. Only nine Argentina squad members play abroad. But Levante’s midfielder Florencia Bonsegundo said she wants to inspire girls “not only in the national team, but also at the country level.” Argentina lost all six World Cup matches the previous two times it qualified, in 2003 and 2007. The team will play its first Group D match on June 10 against Japan, the runner-up in the 2015 tournament. They will then face England, currently ranked third in the world. Their last game will be against Scotland. “Our main goal is to win one match, and we will focus on debutant Scotland,” said striker Mariana Larroquette. “We could match England and we are far from Japan, but it is not impossible.” Argentina’s team has played together for less than two years, which accounts for some of the modest expectations. “We have to have our feet on Earth,” said captain Estefanía Banini, who wears No. 10, like Diego Maradona and Lionel Messi. “From the half mark forward we can make the difference in one-onones, we have skills, but we know we are slow in comparison with countries with bigger preparation. We need to work to know how to defend against the speed of other teams.” Argentina’s players have a last wish before they travel to France; to be visited by Messi, who will soon be in Buenos Aires for Copa America preparations. “We hope we can share a moment because we are in the same building, and he can tell us how to live a World Cup,” said Bonsegundo. “There are girls that have never been to one, it would be beautiful for them to get closer.” AP

ARGENTINA’S Aldana Cometti (right) celebrates as Yael Oviedo stands at center during training ahead of the Women’s World Cup France. AP

orts

sMirror

Luzvimin golfest unfurls in Cebu

Wednesday, May 29, 2019

P.O.C. ROW THICKENS

HE top golfing ladies from the country’s leading clubs take center stage beginning on Wednesday as they slug it out for top honors in various divisions in the 2019 Champion Luzvimin Invitational golf tournament at Cebu Country Club in Cebu City. Del Monte parades an intact roster for its titleretention drive but Manila Southwoods is brimming with confidence with a souped-up crew, and rest of the cast are all coming into the event ready to take on the best and emerge on top after 54 holes of the annual championship held under the Molave scoring format. The Del Monte ladies dominated their Carmonabased rivals in the final round to reign at Taal Splendido last year, reclaiming the crown they won at Rancho Palos Verdes in 2016 with Class B individual winner Sofia Abarcas spearheading their repeat bid in the premier Diamond division along with Martina Miñoza, Leslie Icoy, Kiara Montebon, Saraiah Rheaume and Maura Quijano. But Southwoods is out for a payback, enlisting top amateur Laia Barro to anchor a talent-laden squad composed of Loralie Roberto, Claire Ong, Christine Naidoo, Claudine Garcia and Deanna Samaniego. But the rest of the 10-team field in the centerpiece category, including five new squads, are also upbeat of their respective chances, particularly the hosts, made up of Riko Nagai, Crystal Neri, Mary Kim Hong, Catrina Martinez, Jyra Wong and Jeanette Chiu, who are raring to use their local knowledge of the tree-lined, tight layout in an attempt to pull off a stunner. Rancho Palos Verdes, meanwhile, will be led by Charilyn Kayama, Victoria Tan, Myung Seon Park, Stella Patruno, Lilibet Crisologo and Mereane Siason, while former Del Monte ace Pamela Mariano will now anchor Pueblo de Oro’s bid in the event sponsored by Champion and organized by the Women’s Golf Association of the Philippines along with Juliane Borlongan, Alethea Gaccion, Marife Carmichael, Gladys Opitz and Jennifer Chua.

RAMIREZ

By Ramon Rafael Bonilla

HILIPPINE Sports Commission (PSC) Chairman William Ramirez courteously declined his appointment by the Philippine Olympic Committee (POC) as chef de mission to the 2019 Southeast Asian Games the country is hosting later this year. Also on Tuesday—a day after POC President Ricky Vargas purged the sports body’s executive board—the POC, through spokesman Ed Picson, slammed Jose Romasanta’s challenge to hold elections at this time when the national athletes are in the thick of preparations for the SEA Games.

VARGAS

“After some moment of introspection, and to finally put to rest all speculations, I now issue this statement to humbly and officially decline the offer,” Ramirez said in a statement. “Thank you very much for considering this humble servant.” The POC asked Ramirez to replace Monsour del Rosario as chef de mission of the November 30 to December 11 Philippine SEA Games. Del Rosario was a member of the previous POC board, which held two recent meetings without Vargas’s authorization. “I am a public servant. I am bound by duty to deliver what is demanded of me by the law. Whether or not I am chief of mission to the

SEA Games 2019, I and the PSC will surely provide our full and sincere support to Team Philippines,” Ramirez added. Vargas purged the POC Executive Board by firing his predecessor, Jose Cojuangco Jr., Membership Committee Head Robert Bachmann, del Rosario and his deputy Charlie Ho and Tokyo 2020 Olympics CDM and POC first Vice President Romasanta during the POC General Assembly in Mandaluyong on Monday. Cojuangco and company convened Executive Board meetings on April 24 and May 25 without Vargas’s knowledge. Also kicked out of the board were Jeff Tamayo, Julian Camacho, Jonne Go, Clint Aranas and International Olympic Committee Representative Mikee Cojuangco. They attended both meetings. Ramirez asked the POC leadership to take remedies and end the squabble for national interest. “I believe that unity is vital in any endeavor,” he said. “As the chairman of the PSC, I call upon all our sports leaders to step back and take a moment to consider peaceful interactions.

NLEX PARADES NEW IMPORT

LEX parades a new but returning import, Tony Mitchell, when the Road Warriors try to curb a two-game skid against the Alaska Aces in the Philippine Basketball Association Commissioner’s Cup on Wednesday at the Mall of Asia Arena. The Road Warriors immediately lost to the TNT KaTropa (87-102) and t NorthPort Batang Pier (79-83) for a woeful 0-2 start. With Mitchell, who played for the Star Hotshots in 2017, now on board to replace Curtis Washington, NLEX tries to brush off bad

luck in its encounter against Alaska (1-2) in the 7 p.m. game. Unbeaten teams TNT and NorthPort, meanwhile, try to scratch each other’s 2-0 records at 4:30 p.m. Mitchell brings a National Basketball Association credential after playing for the Detroit Pistons and different leagues around the world. He will be up against Robert Christopher Daniels and the Aces, who lost to the KaTropa, 85-99, last Saturday. In that game, Daniels scattered 23 points

LOSE to 300 kids gear up for a showdown on their side of the duel as the future of triathlon clash in the Alaska Fortified IronKids on Saturday at the WOW Recreation and Activity Center in Subic Bay Freeport Zone. This marks the third time that the local junior version of the Ironman will be held as a swim-run event following the Davao City and Vermosa, Cavite, competitions with the Subic cast to feature the sport’s regular campaigners in the 6-to-14 years old bracket with a number of new faces also out to steal the spotlight from the fancied names in the event starting at 6 a.m. The IronKids serves as a fitting appetizer to the Century Tuna Ironman 70.3 Subic Bay presented by Big Boss Cement which fires off Sunday with Seychelles’s Nick Baldwin setting out for back-to-back title feat in the country’s triathlon capital following his triumph in the first full Ironman last year. Also lined up on Saturday is the Sun Life

Betten along with fellow Australians Tim Van Berkel and Conor McKay with Colombia’s Rodrigo Acevedo and Oli Stenning of Great Britain as he seeks to make it two-in-row in Subic, this time on a shorter 1.9-km swim 90-km bike and 21-km run event. For details, visit www.ironman703subicbay. com or the Facebook page Century Tuna Ironman 70.3 Subic Bay and @im703subicbay on Instagram and Twitter. Official event hashtags are #CenturyTunaIM703 #im703subicbay. Backing the event are Big Boss Cement (presenting sponsor), venue host Subic Bay, bike leg racing partner NLEX SCTEX, Black Arrow (official courier and logistics partner) Hoka (official footwear), Gatorade, TYR, Gu, Lightwater, David’s Salon, Prudential Guarantee, ONE Cignal, Trilife, AsiaTri.com, Finisher Pix and Active. Close to 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.

Bike Out and the Ironman 70.3 Subic Bay Expo at 9 a.m., the media conference at 3 p.m. and the Beliinda Granger race at 4 p.m., among others. Launched a decade ago, the Alaska IronKids, then made up of a swim-bike-run event, has become one of the highlights of each Ironman competition. It is staged to promote a wellbalanced lifestyle for kids and at the same time serves as venue for family bonding. It is also held to help kids develop the values of discipline, hard work, integrity and determination through a series of races. The organizing Sunrise Events Inc., however, decided to drop the bike leg from the usual 400-m swim, 9-km bike, and 3-km run event to lessen the competition’s barriers to entry of which purchasing a bike is a prime example. Meanwhile, Baldwin gears up for a strong challenge from the likes of former 70.3 world champion Tim Reed and multi-titled Sam

Honey Tubino, comebacking Jovelyn Gonzaga and veteran Mary Jean Balse-Pabayo combining for 24 points, the Army Troopers launched their title drive with a 25-20, 25-16, 24-26, 25-23 victory over the BaliPure Water Defenders last Sunday. In contrast, the reigning champions suffered a stinging 22-25, 24-26, 22-25 defeat to the PetroGazz Angels in a setback marred by the sidelining of Creamline’s main player Alyssa Valdez

and collected 19 rebounds. But his effort, along with Jvee Casio’s 22 points, went to waste as the Terrence Jones-led TNT flexed its muscle yet again. On the same day, NLEX dropped a slim four-point loss to NorthPort, which played all-Filipino. Mitchell was supposed to play in that game, but his documents have yet to be completed. NLEX got 18 points from Kenneth Ighalo, but had little help from the other locals.

TONY MITCHELL brings his veteran smarts this time with the Road Warriors.

Army Troopers take on Cool Smashers in PVL elims

ACIFICTOWN Army hopes to ride the momentum of its impressive debut and pounce on Creamline’s shaky start to its titleretention campaign as the Lady Troopers shoot for a second straight win in Season 3 of the Premier Volleyball League Reinforced Conference at the Flying V Center in San Juan on Wednesday. With imports Janelle Jordan and Olena Lymareva-Flink firing 15 hits apieces and locals

The PSC is open to host a dialogue between parties and provide neutral ground for everyone.” Picson, meanwhile, took a swipe at Romasanta’s call for immediate elections. “Mr. Vargas proposed early elections in January 2020 not because he wanted a showdown to see who has more sympathizers in the General Assembly,” Picson said also in a statement. “He suggested early elections for January because he wanted everyone to focus on the SEA Games hosting first.” The POC is mandated to hold elections on the last Friday of November of each Olympic year. “Let us work together first for the SEA Games. That should be our primary focus at this time. National pride and reputation are at stake. Then Mr. Romasanta and his friends can have the political exercise they want,” Picson added. On Romasanta’s statement that Vargas’s new appointments in the board are invalid, Picson said the POC official is again “off the mark.” “The appointing authority as provided for by the POC by laws is the president. Yes, the bylaws say that his appointments are subject to the approval of the board,” he said. “But that doesn’t mean his appointments are not valid. “The Executive Board is not the appointing authority, it is the president. Ergo, the president’s appointments are valid until rejected by the Board in a validly convened meeting.”

Ramon Rafael Bonilla

Go for Gold five downs Scorpions 300 kids in harness for showdown G in IronKids at Subic Bay Freeport O for GoldCollege of Saint Benilde (CSB) flexed just enough muscles to hold off Centro Escolar University (CEU), 84-81, to force a do-or-die Game Two in the Philippine Basketball Association Developmental League quarterfinals on Tuesday at the Ynares Sports Arena in Pasig City. Gab Banal punctuated his triumphant return to the Scratchers as he drilled the go-ahead trey from the top of the arc with 17.5 seconds left, before Jimboy Pasturan forced a stop on Keanu Caballero on the other end. “I’m happy that we’re still alive,” Go for Gold-CSB Coach Charles Tiu said. The fact isn’t lost on the mentor, however, that Go for Gold-CSB almost squandered a 20-point lead as CEU slowly chipped away the deficit. “We probably deserve to lose that game. We were up big and seems like we never learn. The maturity is still isn’t there,” he rued. Still, the Scratchers got their new lease on life to send the series to a deciding tiff on Thursday. Banal collected 12 points, six assists and five rebounds in his comeback to the Go for Gold-CSB side to help Roosevelt Adams’ 26-point, 13-rebound performance. Newcomer Santi Santillan also did his part with 15 points and six rebounds, as Justin Gutang finished with 13 points, eight boards and five assists in the victory. The Foundation Group 2-seed CEU banked on Judel Fuentes, who led the spirited fourth-quarter rally to wound up with 22 points, 10 coming in the payoff period. Senegalese center Maodo Malick Diouf registered a double-double with his 14 points, 17 boards, six assists, four steals and three blocks, as Guinitaran got 13 points.

due to injury in the second seat. After dropping the opening frame, the Cool Smashers tried to fight back in the second but lost their momentum after Valdez sustained a leftankle injury after slipping while trying to keep the ball in play off the block with the score tied at 16. She was carried off the court and didn’t return, finishing with five points and the team never recovered from there, enabling the Angels to pull

off a tight two-point escape before holding off their rivals to complete a surprise straight-set romp in a big reversal marking the start of the third season of the country’s premier league organized by Sports Vision. “I just hope nothing serious happened,” said the power-hitting former Ateneo ace who is expected to suit up against the Army Troopers in their 3 p.m. clash. The Angels, led by imports Wilma Salas and Janisa Johnson, are also going all out to nail another win as they face the Banko-Perlas Spikers in the 5 p.m. main dish.

YEO AND CO. HAVE HANDS FULL IN TAIPEI JONES CUP

IGHTY Sports could be in for a tough competition this time when it represents the country anew in this year’s William Jones Cup. The club team will be facing national teams of different countries in the July 12 to 21 tournament annually hosted by Chinese Taipei. The national teams of Iran, Japan, South Korea, Jordan and Tunisia have confirmed their participation in the meet, which they are using as part of their preparation for the Fiba World Cup in China this August. Their presence will have Mighty Sports hardpressed to duplicate its eight-game sweep of the 2017 edition.

“The participating teams right now are all strong, national teams. So it’s much more competitive and stronger,” bared Mighty Sports Assistant Team Manager Jessie Angchonghoo at the Philippine Sportswriters Association Forum at the Amelie Hotel-Manila on Tuesday. “But we’re ready. We have all the tools to compete with them.” Charles Tiu will again call the shots for Mighty Sports, which will be reinforced by former Philippine Basketball Association imports Renaldo Balkman, Zachary Graham and Eugene Phelps. The team is also composed of FilipinoAmericans Jason Brickman, Jason Gray, Roosevelt Adams, Mikey Williams, Aaron Black, Gab Banal

and Joseph Yeo. The 35-year-old Yeo is playing in his second Jones Cup after suiting up for the national team then under Coach Chot Reyes. “I’m very excited to be back and represent the country again,” said Yeo, who also attended the session presented by San Miguel Beer, Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp. Mighty Sports is not taking any chances and tapped former Gilas Pilipinas Coach Rajko Toroman as part of the Tiu’s coaching staff. Tiu invited Toroman to help him handle the team. Tiu served as one of Toroman’s deputies during his stint with the original Gilas Pilipinas.

JOSEPH YEO and Mighty Sports Assistant Team Manager Jessie Angchonghoo address Tuesday’s forum.

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

How Toronto wrested slot to NBA Finals

TORONTO defeated Milwaukee for the Eastern Conference trophy on Sunday but only after avoiding a huge hole yet again, capped by a timely escape from a pressure-cooker situation in the endgame. The hole was a 15-point deficit that kept coming back like a hauntingly sad refrain, the last one coming at 76-61 in the middle of the third quarter. Only when the Raptors finally dropped a 10-0 run that things started to brighten up for Toronto behind the eightpoint eruption of Kawhi Leonard that trimmed Milwaukee’s lead to 76-71 going to the last 12 minutes of play. It was a comeback that breathed life on the seemingly sagging spirits of the Raptors, who trailed by 13 points, 18-31, after the first quarter and by seven, 43-50, at the half. And, as if on cue on that blistering third-quarter closeout by Leonard, the rest of the Raptors responded with a 7-2 blast opening the fourth frame that was capped by a Serge Ibaka dunk, knotting the count at 78-78. Milwaukee melted somewhat after that, triggering another 9-1 Toronto salvo topped by a swashbuckling Leonard dunk from an unselfish assist by Kyle Lowry, producing an 87-79 Raptor bubble with 6:46 to go. And after the Bucks countered with their own 6-0 run to cut the Raptors’ lead to 87-86, that’s when Toronto took a serious stock of its arsenal, dropping an 8-4 bomb behind back-to-back threes by Marc Gasol and Leonard for a 95-90 Raptor lead, 2:56 remaining. Following an exchange of baskets and turnovers, Buck Brook Lopez sank two free throws off Gasol’s fifth foul that trimmed Toronto’s lead to 97-94, 29.6 seconds left. Toronto coach Nick Nurse called timeout and, following a Raptor inbound play, Pascal Siakam missed an undergoal stab but was fouled with seven ticks left. But even as Siakam missed the second free throw after making the first, Leonard grabbed the rebound—his 17th to totally eclipse the 11 boards of rebounding monster Giannis Antetokounmpo of Milwaukee. Leonard was duty-fouled and next sank both charities for the final 100-94 count, sending Toronto to a title clash against the two-time defending champion Golden State, the Western Conference winner for the fifth straight year. The Warriors are the usual heavy favorites mainly because of their Splash Brothers, Steph Curry and Klay Thompson. Both are the NBA’s deadliest duo from afar for the last five years or so. And Draymond Green has always been a pillar on both offense and defense for Golden State, his basketball IQ being one of the highest in the NBA. Even as Kevin Durant, Andre Iguodala and DeMarcus Cousins are questionable starters for Golden State due to injuries, Toronto will still find it difficult to grind it out against the war-ready Warriors. Leonard (27 game-high points on Sunday) will be a marked man, and the minute he gets handcuffed—most likely by Green—the Raptors could be in trouble. And remember that Golden State is much deeper, bench-wise. So you stop Leonard, and you stop Toronto. But you stop Curry, you still have Thompson. And Green. And two or more predators lurking from the bench. Not to mention Durant, who might just suddenly pop up from out of the blue. THAT’S IT It is fair to say, perhaps, that should a miracle happen, Toronto will win its first ever NBA title. If no miracle, can Golden State at least allow the Raptors to win two games in their best-of-seven series? Three wins would be too much. Four wins would be—yes, a miracle.

CHAMPION. QUEEN. GODDESS. MOTHER. By Howard Fendrich

The Associated Press

ARIS—This was one mistake too far for Serena Williams. Sure, the bad backhand put her behind only 15-30 at the outset of the second set of her opening match at Roland Garros on Monday. What made the miscue so bothersome? She’d already dropped the first set against 83rd-ranked Vitalia Diatchenko—and Williams’s unforced error total already was at 15 on a windy evening. So she reacted by throwing her head back and letting out a scream. Then she stepped to the baseline to serve and stomped her right foot. And simple as that, Williams righted herself: She won 11 of the next 13 points, and 12 of 13 games the rest of the way, to come back for a disappointing-todominant 2-6, 6-1, 6-0 victory at the French Open. “I just was so frustrated at that point, because I have been training well. The past week and a half has been really good, and, God, it was, like, ‘This isn’t the Serena I have been practicing with—or that I see every day,” Williams said afterward. “I just let out this roar, and here I am. Yeah, so maybe that helped.” She arrived on court with a black-and-white jacket bearing words such as “champion,”“queen,”“goddess” and “mother” in French. “Those are things that mean a lot to me and reminders for me—and for everyone that wants to wear it,” Williams explained. “Just remind everyone that they can be champions and are queens.” A reporter told Williams those four words are “a lot to carry,” to which the 37-year-old American replied: “It is a lot to carry, but so is being Serena Williams.” She made her return to Grand Slam competition in Paris a year ago after missing five majors because of the birth of her first child. Williams pulled out before the fourth round because of an injured chest muscle, then was the runner-up at both Wimbledon and the US Open. Williams came to Paris this time having withdrawn from each of her past two tournaments because of a balky left knee, and the one before that because of illness. She had played only nine matches all season, and so her pursuit of a record-tying 24th Grand Slam title—fourth at Roland Garros—seemed

Sports BusinessMirror

| Wednesday, May 29, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Were rules followed before horse’s death?

What’s it like to play Nadal at French Open? Rough!

In a performance emblematic of a difficult season, last year’s Australian Open champion bowed out in the first round, 0-6, 6-3, 6-3, to 68th-ranked Veronika Kudermetova of Russia. “Definitely wasn’t the best match I’ve ever played,” said the 13th-seeded Wozniacki, who had only 15 winners to Kudermetova’s 40. The way-up-then-way-down showing by Wozniacki stretched her losing streak to four matches. Other seeded players exiting on Day 2 included No. 12 Daniil Medvedev, No. 15 Nikoloz Basilashvili, No. 20 Denis Shapovalov and No. 32 Frances Tiafoe on the men’s side, along with No. 18 Julia Goerges on the women’s. Tiafoe, a quarterfinalist at the Australian Open in January, threw up a couple of times and his game came apart late in a 6-2, 4-6, 6-3, 3-6, 6-0 loss to Filip Krajinovic of Serbia. “Obviously very depleted and had nothing really in me,” said Tiafoe, now 0-4 at Roland Garros. Before Williams took over the main stadium, Rafael Nadal began his bid for a record 12th championship in Paris and Novak Djokovic got started on his quest for a fourth consecutive major trophy. Both won in straight sets. When it was Williams’s turn, she needed a bit to get going. After 14 unforced errors in the first set alone, she had six in the second, four in the third. Her winner count went the other way: from five in the first set to nine in the second to 11 in the third. After dealing with five break points in the first set, Williams never faced another. Diatchenko sat at changeovers with a towel covering her head, as if embarrassed to be seen there. At the beginning of the match, Diatchenko said, “I was No. 1 between us.” But as things progressed, a better version of Williams emerged. “With Serena, you have to play not 100 percent. You have to play 150,” Diatchenko said. “Always.”

SERENA WILLIAMS arrives on court with a black-and-white jacket bearing words such as “champion,” “queen,” “goddess” and “mother” in French as fans take a selfie with the Roland Garros logo. AP

no sure thing. That goal seemed even further from her grasp with the way things began in Court Philippe Chatrier against Diatchenko, a Russian who hits two-fisted shots off both sides and upset Maria Sharapova at Wimbledon last year.

ARIS—Like so many others who have faced Rafael Nadal, Yannick Hanfmann thought he had a plan. Until, that is, tennis’s greatest clay-court player dismantled it stroke by stroke on the red dirt where he has won 11 French Open titles. “After the first two sets, you’re thinking like, ‘Damn,’” Hanfmann, a German ranked 184th, said after losing, 6-2, 6-1, 6-3, on Monday. “It’s rough.” The 27-year-old former college player at the University of Southern California, who won three qualifying matches to earn the dubious honor of being Nadal’s punching bag in the opening round of the main draw, didn’t make a fool of himself in what was his first career match on the showcase Court Philippe Chatrier. Indeed, in what would have amounted to a minor earthquake in the arena that is practically Nadal’s backyard had he converted, Hanfmann even had four chances to break the Spaniard in his first service game. But the experience of facing Nadal for the first time, and at Roland Garros to boot, can do strange things to the uninitiated. Before the first point was played, as the players broke away from their pre-match photo session with two kids at the net, Hanfmann stuck out a hand, looking for a shake. Later, even he couldn’t explain why he had done it, and not waited until the end of the match, as is traditional. Had Nadal blanked him, the memes could have gone viral. Thankfully, the winner of 17 major titles didn’t leave Hanfmann hanging and instead took his outstretched hand. “That was weird. I don’t know what I was doing, to be honest. I was a bit out of it there,” Hanfmann said. “I saw him shaking this kid’s hand and the ref’s hand and I then stuck out my hand. I don’t know why.” Looking ahead, the one hour and 57 minutes of tennis in a brisk breeze didn’t reveal any hitherto unknown secrets about how Nadal is feeling in his pursuit again this year of the Musketeers’ cup. After his unsteady first game, the 32-year-old was not pressed hard or long enough to gauge much about what the next two weeks might have in store. But Hanfmann got some answers. Having only ever watched Nadal, he’d been curious to

“I just got nervous out there and I stopped moving my feet. And [it] was, like, concrete blocks on my feet. I was like, ‘You got to do something,’” Williams said. “I was just off, basically. And then instead of correcting it, I just kept getting worse.” Could the nearly impossible happen? Could Williams lose in the first round of a major? She’d only done so once before in 70 Slam appearances—and that happened at the French Open, in 2012. But once Williams recalibrated everything, she took charge. One of her good friends, and another former No. 1-ranked player, Caroline Wozniacki, went in the opposite direction on Monday, going from playing a perfect set to quickly fading away against an opponent who never previously had won a Grand Slam match.

find out for himself exactly what it feels like to be on the receiving end of the left-hander’s fiercely spun shots. Well, now he knows. “That was kind of cool,” Hanfmann said, showing he can put a positive spin on things, too. “It just comes off the ground really fast and high, fast high balls. You think you’re set up for it, with the backhand or forehand or whatever, but then you’re still on the back foot and maybe mishit it a little because it’s very spinny.” And like so many of Nadal’s opponents, he also was struck by just how hard it is to unsettle him. “You just feel like, ‘OK, here I played a great shot,’ but then there’s a great answer from him,” Hanfmann said. Roger Federer’s firstround opponent, 74th-ranked Lorenzo Sonego, said the same sort of thing after losing, 6-2, 6-4, 6-4, on Sunday to the 20-time major champion. And top-seeded Novak Djokovic made light work on Monday of his first-round match, a 6-4, 6-2, 6-2 victory over Hubert Hurkacz, ranked No. 44, from Poland. The consolation? Once the sting of defeat has gone, all three will have a story to tell. “In a couple weeks,

years, of course,” Hanfmann said. “Yeah, I mean, to play him and, you know, now I know how it feels, kind of. You know, to have a guy like him, he has such a unique game on clay.” AP THE experience of facing Rafael Nadal for the first time, and at Roland Garros to boot, can do strange things to the uninitiated. AP

RCADIA, California— The owner of Santa Anita is investigating whether new rules were followed before the 26th horse death at the Southern California racetrack. Kochees, a nine-year-old gelding, was euthanized on Sunday after injuring his left front leg in a race a day earlier. It was the third horse death in nine days and the 26th overall since the season began December 26. Stefan Friedman, a spokesman for The Stronach Group, told The Associated Press on Monday that the track’s owner is looking into whether protocols were followed leading up to the gelding being euthanized. “If those rules were not followed, consequences will be swift,” he said. “I’m not going to get into specifics of that incident, but anybody who thinks they can sort of skirt the rules and perhaps there was an old way of doing things, it’s not going to fly anymore.” Among the rules put in place since March, a trainer’s veterinarian must sign off on a horse’s fitness before the track’s veterinarian also takes a look at the animal ahead of its training or racing. Trained by Hall of Famer Jerry Hollendorfer, Kochees was pulled up by jockey Mario Gutierrez entering the top of the stretch in the 5½-furlong race on Saturday. The gelding was taken off the track via van and had a splint applied to his leg. The injury appeared to be correctable through surgery. However, when doctors realized the horse had lost blood flow to the leg, he was euthanized. “We wouldn’t have led

him over if we didn’t like him. We thought he would run real well, we thought he would win,” Hollendorfer said. “In my mind there is absolutely no doubt that we’ve done every single thing properly with Kochees and all the rest of our horses, too.” Hollendorfer has lost two other horses during the meeting. “We certainly are pretty sad when they get hurt,” he said. The track’s previous fatality was Spectacular Music, an unraced threeyear-old gelding who suffered a pelvic injury during training on May 19 and was euthanized the next day after his condition worsened. Commander Coil was injured on May 18 during a gallop on the training track and was euthanized. Friedman described the seven-week stretch without any incidents before the three deaths in the past two weekends as “pretty much an unprecedented run of safety as far as catastrophic injuries go.” “We believe that’s in part because the reforms are starting to take hold and work,” he said. Animal-rights activists protested outside the track on Monday, toting signs urging the end of racing in California. The day’s 10 races went off without incident. “We’re open because the track is safe according to every single person we have talked to,” Friedman said. “With that track safety, we’re confident in running the horses here.” People for the Ethical Treatment of Animals has called for racing to be suspended until an investigation by the Los Angeles County District Attorney’s Office is completed. “Decreasing the number of broken bones is not enough,” Kathy Guillermo, senior vice president of Peta, said in a statement. “Nothing short of a zerofatality rate is acceptable.” AP

Your love is everything

EAR God, Your love is everything. We yearn for Your compassion and mercy, and we pray: Let us see Your kindness, oh God. Protect and strengthen the character of those incarcerated. Rescue those who are in danger of storm, disaster or terrorist acts. Guard the dying from all distress and bring them to share in the light of Your peace and glory. May God bless us, shine light upon our ways and guard us in peace, through Jesus our light. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

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SUI GENERIS: PREPARING FOR A JOB INTERVIEW D4

Wednesday, May 29, 2019

UK, Japan mobile operators suspend Huawei 5G phone launches By keLVin Chan & yuRi kaGeyaMa The Associated Press LONDON—British and Japanese mobile phone companies said on Wednesday they’re putting on hold plans to sell new devices from Huawei, in the latest fallout from US tech restrictions aimed at the Chinese company. Britain’s EE and Vodafone and Japan’s KDDI and Y! Mobile said they are pausing the launch of Huawei smartphones, including some that can be used on next-generation mobile networks, amid uncertainty about devices from the world’s No. 2 smartphone maker. The US government last week restricted technology sales to Chinese telecom gear suppliers because of alleged security risks, though telecom carriers got a 90-day grace period to let them find other suppliers. The sales ban is part of a broader trade war between Washington and Beijing. British mobile chip designer Arm said separately it was complying with the US rules, after the BBC reported it was suspending business with Huawei—a move that could hobble the Chinese tech company’s ability to produce chips for new devices. Vodafone said in a statement that it’s “pausing preorders” for the Mate 20X, Huawei’s first phone for 5G networks, as “a temporary measure while uncertainty exists regarding new Huawei 5G devices.” EE CEO Marc Allera said sales would not resume until it gets “the information and confidence and the long-term security” that customers will be supported

over the device’s lifetime. The company was also set to sell the Mate 20X followed by Huawei’s Mate X folding handset. EE said it’s working with Huawei and Google, which makes the Android mobile operating systems to make sure it “can carry out the right level of testing and quality assurance.” The Trump administration’s order last week cuts Huawei’s access to American chips and Google, which makes the Android operating system and services for its smartphones. Y! Mobile, owned by Japanese technology company Softbank, said sales of the Huawei P30 lite, set for May 24, have been delayed,

and advance orders were canceled. SoftBank Spokesman Hiroyuki Mizukami said the company wants its “customers to feel safe using our products.” KDDI also indefinitely delayed its sales, initially set for late May. It’s unclear when, or if, the companies will lift the sales freezes. British carriers plan this year to roll out 5G services while Japan will follow in 2020. Fifth-generation mobile networks will enable superfast downloads and pave the way for new innovations like connected cars and remote medicine. Arm, which is also owned by Softbank and designs

mobile microprocessors that power most of the world’s smartphones and tablets, said it “is complying with all of the latest regulations set forth by the US government.” The company told employees to halt all business deals with Huawei, the BBC reported, citing a company memo that said its designs contained “US origin technology.” In response to the report on Arm, Huawei said it recognizes that some of its partners are under pressure as a result of “politically motivated decisions” but that it’s “confident this regrettable situation can be resolved.”

Latest software rolls out for Samsung smartwatches GLOBAL consumer electronics brand Samsung announced recently the roll out of its latest software for the Galaxy Watch, Gear Sport and Gear S3. The update includes Samsung’s bold, simple and colorful One UI, designed for natural and comfortable navigation with reduced visual clutter for a clean and intuitive interface. Available now, the latest update also offers new watch face designs, better battery optimization, and improved health and fitness tracking features with Samsung Health. One UI brings a cleaner and more simple interface, designed to eliminate unnecessary distractions or visual clutter for easier interaction and more comfortable usability. Updated graphics now include bright and vibrant animations when a user earns an achievement.

The UI on the smartwatch delivers a stylized interface that is synchronized with One UI on Galaxy smartphones, featuring more harmonious colors and layouts across devices. The update also delivers more streamlined settings, allowing users easier customization and control over their device. The updated interface features new advanced settings, including enabling/disabling Touch wakeup, controlling the frequency and timing of Daily briefing updates, and turning on/off Goodnight mode depending on the user’s personal sleeping habits. Users can also download a wide variety of new watch face designs, previously available only on Galaxy Watch Active, from the Galaxy Store to customize their device. The latest software update also enables users to experience improved daily health and fitness tracking with the

new Samsung Health features on their Galaxy Watch, Gear Sport or Gear S3. New features include: Daily Activities, providing at-aglance daily summary of the user’s daily calorie, movement and workout counts; streamlined workout tracking, which continuously syncs workout data from the wearable device to the paired smartphone; and improved health and wellness monitoring, including more effective heart rate monitoring with the High Heart Rate Alert, and notifying the user if their heart rate exceeds a predetermined level. The update also features improved battery optimization for better performance and longer use, automatically closing background apps and amending settings that may drain battery life.

Pet Corner BusinessMirror

Wednesday, May 29, 2019

Man who lost cat in 131-car pileup to adopt kittens

MORRISTOWN, Arizona—Grumpy Cat, whose sourpuss expression entertained millions on the Internet and spawned hundreds of memes, national television commercials and even a movie, died at age seven. Her owners posted on social media that she experienced complications from a urinary tract infection. “She passed away peacefully on the morning of Tuesday, May 14, at home in the arms of her mommy, Tabatha,” they wrote. “Grumpy Cat has helped millions of people smile all around the world— even when times were tough,” her owners said. The cat’s real name was Tardar Sauce and the owners were never sure what her breed was. Her web site said her grumpy look was likely because she had a form of feline dwarfism. They said despite her face, she is cuddly and loved to be held and rubbed. She rose to fame after her photos were posted on Reddit in 2012. Her owners said it was suggested the photo was a fake, so they posted a few videos to prove otherwise. Since then, Grumpy Cat made appearances on Good Morning

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Riley Keough, 30; Mel B, 44; Rupert Everett, 60; Annette Bening, 61. HAPPY BIRTHDAY: Take pride in what you do and how you use your skills, experience and knowledge to help others. Partnerships can lead to an opportunity as long as you strive for equality. How much you contribute should make you feel good about doing your part. Choose your affiliates carefully. Your lucky numbers are 7, 12, 18, 26, 32, 39, 48.

ARIES (March 21-April 19): Focus on what you want to achieve. Have a strategy in place, and follow it precisely to avoid interference. If you let someone meddle or take over, you will end up with something you don’t want. Don’t share secrets. HHH

TAURUS (April 20-May 20): A personal adjustment is encouraged. How you deal with others and the way you portray who you are and what you want will make a difference to the outcome of a situation you face. Deal with your peers or siblings with compassion. HHH

GEMINI (May 21-June 20): Stick to the truth. If you try to hype a plan or situation, someone will question you. Reveal your thoughts, and be willing to accept good advice. Working alongside someone who has complementary skills will help you excel. HHHH

CANCER (June 21-July 22): Take pride in what you do, the way you present yourself and how you treat others. Refuse to let an emotional incident cloud your day or stop you from being productive. Peace and love will bring better results than discord. HH

sorrow from the first trip with something more comforting, more joyful. “It’s kind of a cycle sort of thing, where I lost a cat there and now I gain a cat there,” he said. “It just kind of helps me pay my bill. I’m not spiritual, but it’s like a spiritual circle complete.” Graves will fly to Wisconsin on May 20. He will spend a couple of days with John Julius, a Greenville resident and cat owner who befriended Graves during the search for Bastet, before flying back to San Diego

GRUMPY CAT, WHO ENTERTAINED MILLIONS ONLINE, DIES AT AGE 7 POSTING on social media on May 17, the owners of Grumpy Cat wrote that the Internet sensation experienced complications from a urinary tract infection and “passed away peacefully” in the arms of her mother on May 14. AP

By Duke Behnke The Associated Press

EENAH, Wisconsin—Kevin Graves of San Diego hopes his second visit to Wisconsin will go much, much better than his first. On his initial drive into America’s Dairyland in February, Graves encountered whiteout conditions and found himself in the middle of a 131car pileup on Interstate 41. Amid the chaos of the crash, he lost his beloved cat, Bastet, who was found dead 17 days later in a mound of debris. The story of Graves and Bastet isn’t likely to be featured in Wisconsin’s next tourism ad. It understandably left Graves with a cold feeling of the land of beer and cheese, even with the outpouring of support from residents who searched in vain for Bastet following the crash. Graves anticipates a warmer, more pleasant experience on his return trip. And this time he plans on leaving the state happy with not only one cat in tow, but two. The 26-year-old will fly to Appleton International Airport later this month to adopt two kittens from one of the animal rescue organizations that helped him look for Bastet, the Appleton Post-Crescent reported. “I haven’t selected which pair yet, but I’m getting them from either Valley Cats or Almost Home” Kitty Rescue, Graves told USA Today Network-Wisconsin. “They are the two animal rescues that worked with me the most.” After losing Bastet, Graves knew he needed to adopt from Wisconsin. Explaining why is more difficult. “There’s not a tangible reason,” he said. “It’s not that the cats from Wisconsin are better or that it’s more financially responsible. It’s actually worse financially for me because I’m flying out there.” Graves, though, wants to replace the trauma and

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America, CBS Evening News, even American Idol and The Bachelorette. She’s done television commercials for Honey Nut Cheerios and took photos with hundreds of fans at South by Southwest. In 2014, Lifetime produced a movie called Grumpy Cat’s Worst Christmas Ever. She was voiced by Parks and Recreation star Aubrey Plaza. Owner Tabatha Bundesen founded Grumpy Cat Ltd. and created a web site that

with the kittens. He decided on two kittens so they can socialize with each other when he’s not at home. A flight attendant already has offered to pay the $125 fee for flying the kittens. The flight attendant previously offered to fly Bastet home to San Diego for free, had Bastet been found alive. The February 24 pileup on I-41 was the largest in Wisconsin history. It left one person dead and 71 injured. n

Dog disease that can be passed to humans confirmed in Iowa

included an online shop featuring 884 items, including T-shirts and mugs with the cat’s picture. The feline’s net worth was never disclosed but in 2013, her owners say it was six figures. Last year, online speculation estimated her to be worth in the millions. Grumpy Cat had more than 8 million followers on Facebook, 2.5 million on Instagram and more than 1.5 million on Twitter. AP

DES MOINES, Iowa—Officials say a dog disease that can be passed to humans has been confirmed in Iowa. The state veterinarian, Dr. Jeff Kaisand, says several cases of canine brucellosis have been confirmed at a commercial breeding facility for small dogs in Marion County. The Iowa Department of Agriculture and Land Stewardship says it is notifying people who have custody of the exposed dogs. Both the animals and the facilities are quarantined while the dogs undergo testing. Signs of the disease in a dog include infertility, spontaneous abortions and stillbirths. State health officials say symptoms for humans include fever, sweats, headache, joint pain and weakness. The department says the threat to most pet owners is very low. Dog breeders, veterinary staff and anyone who comes in contact with blood, tissues and fluids during the birthing process may be at higher risk. AP

LEO (July 23-Aug. 22): Finish what you start, and expand your interests to suit your needs. Walk away from controversy or situations that could end in a dispute. Consider what someone is going through before you retaliate. HHHHH

VIRGO (Aug. 23-Sept. 22): Get moving. Your involvement in practices or events that you feel strongly about will motivate you to do more. Listen to what’s being said, but when it comes to taking action, verify all facts before you proceed. Personal growth is encouraged. HHH

LIBRA (Sept. 23-Oct. 22): Don’t let what others do confuse you. Follow your heart, not someone who is likely to lead you astray. Expand your mind, and experience what life has to offer. Honest communication will enrich important relationships. Update your skills. HHH

SCORPIO (Oct. 23-Nov. 21): You can draw conclusions by watching how others act, what they say and how they respond when asked to do things. Distance yourself from anyone pressuring you to spend money or to get involved in something dubious. HHH

SAGITTARIUS (Nov. 22-Dec. 21): The changes you make at home will have a positive influence on your personal relationships. Share your feelings, express your intentions and make an effort to follow through with promises made. Question discrepancies and show compassion, not gullibility, when resolving issues. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Not everyone will be happy with the changes you want to make. Before you begin, discuss your plans with anyone who will be affected by what you do. Be willing to offer incentives or to compromise if necessary. HH

AQUARIUS (Jan. 20-Feb. 18): Don’t take a physical risk or let yourself get worn out. Look for an intelligent way to move forward or reach your goal without applying physical pressure to yourself or a situation that is at a standstill. HHHH

PISCES (Feb. 19-March 20): Focus on what you can do to help others or the physical changes you want to make that will improve your appearance, health or relationship with someone you love. HHH BIRTHDAY BABY: You are colorful, helpful and curious. You are talkative and adaptable.

‘getting oriented’ BY MARK FELDMAN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Conk out 7 Asti wine grapes 14 Rajiv Gandhi’s mother 15 One on the lam 16 Direction for a bride’s family? 18 Horse relative 19 Judge Lance in 1990s news 20 River to the Black Sea 22 Solo 24 Lying facedown 25 Direction for a returning astronaut? 30 18-minute talk type 31 Mournful work 32 Humorous tribute 34 Sense 35 The Alienist author Carr 37 Had bills to pay 41 Muse of love poetry 43 Native New Zealander 44 National economic stat. 47 Direction for a budget-conscious NYC theatergoer? 50 Flightless birds

2 ___ decision (admissions policy) 5 53 Heartfelt 56 Loan figure: Abbr. 57 T, in sorority names 60 Direction for a sprinter to scoot over? 63 The Miser playwright 64 “Am I the one?” 65 Brought home, as a shelter dog 66 Rots DOWN 1 ___ monster (desert lizard) 2 White Monopoly bills 3 Some e-mail attachments 4 Relaxed ___ jeans 5 Weakness 6 Your partner’s name, perhaps 7 Blah 8 Employed 9 Glance over 10 Islamic leaders 11 More suitable 12 Earl Grey server 13 Peaceful 17 The sound of music

1 Flushed 2 22 Perspective 23 Ring or stud site 25 For sure, slangily 26 “Bravo, matador!” 27 Diminutive 28 Beluga delicacy 29 A sidecar may go on it 33 Apple-polisher 35 Half-___ (latte request) 36 DOJ branch 38 Bowl over 39 Elizabethan or Victorian 40 Like Ikea assemblies, informally 42 Fruit of a flower 43 Silky coated dog breed 44 Test for a college sr. 45 ___ and Greg (former sitcom) 46 “End of story!” 48 Deeply focused 49 Corsage flower 51 Saxon lead-in 54 Leave in, as text 55 Raced

7 Farewell, in Essex 5 58 Sparta’s pride 59 Luau strings, briefly 61 The Simpsons character Flanders 62 ___ drop

Solution to yesterday’s puzzle:

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Brandon Maxwell talks ‘Project Runway,’ undressing Lady Gaga By Gina Abdy The Associated Press

EW YORK—Lady Gaga’s multiple fashion reveals were a big moment at the Met Gala, and a sweet one for her friend Brandon Maxwell. Maxwell was the guy by her side who peeled off all her layers on the pink carpet. He also created the look that had her transitioning from a huge pink gown down to black bra and panties, including glittery sky-high boots. Dressing and undressing Lady Gaga is nothing new for Maxwell, on her style squad for years, but he admitted to some nerves over the Met Gala earlier this month. “I, of course, was super nervous leading up but then I had to tell myself, you know, I have changed her under the stage in live performances many, many times and this is what we do,” he told The Associated Press in an interview. “Every time I looked over and saw her, I felt calm because I knew that we had each other. And we have always had each other,” Maxwell said. Lady Gaga has been a driving force in his life, a “stable friend that has been there to catch me whenever I felt like I am falling, and that goes for many of the

other best girlfriends in my life.” Maxwell said it’s the women closest to him who motivated him to break out with a brand of his own. “It is not about fame or glamour or money or being at the cool table,” he said. “It is really, for me, about saying thank you.” Among Maxwell’s latest projects is judging on a revived 17th season of Project Runway, featuring Karlie Kloss as host and fellow womenswear designer Christian Siriano as the mentor. “I love the contestants,” Maxwell said. “What they are doing is hard. To make a dress in two days, like when you have a full team, it is incredibly hard, so I really think that speaks to the level of talent they possess.” Maxwell has been at the helm of his own company for about four years. In addition to Lady Gaga, he’s dressed Meghan Markle, Michelle Obama, Oprah Winfrey, Julia Roberts and a host of other celebrities. He can still relate to the contestants he’s helping to judge on the Bravo series. “I am in the trenches every day with the real issues and I feel so many of the pressures that they feel,” Maxwell said. “It is like holding up a mirror to myself when I am seeing them on the runway.” n

FILE photo shows Lady Gaga (right) and designer Brandon Maxwell at The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the Camp: Notes on Fashion exhibition in New York. AP

Wednesday, May 29, 2019

PINKY AMADOR and Piolo Pascual in Ang Panahon ng Halimaw

‘ANG PANAHON NG HALIMAW’ BAGS FAMAS GRAND JURY PRIZE FOR BEST PICTURE

A MOVIE by celebrated filmmaker Lav Diaz and coproduced by Globe Studios, a subsidiary of Globe Telecom (www.globe. com.ph), Ang Panahon ng Halimaw was awarded the Grand Jury Prize for Best Picture at the recently held 67th Filipino Academy of Movie Arts and Sciences (Famas) Awards. The almost four-hour epic, which stars Piolo Pascual and Shaina Magdayao, was a complete departure from the usual masterpieces of Diaz that cinephiles have associated with his body of work. For Ang Panahon ng Halimaw, Diaz effectively mixed his usual austere aesthetics with powerful dialogues set in unaccompanied live “rock opera” fashion to tell a melodramatic story of a society beset of authoritarianism, repression and violence. Set in the late 1970s, the film tells the story of husband and wife Hugo (Pascual), an activist, poet and teacher, and Lorena (Magdayao), a young doctor. Their story starts when Lorena tries to open a clinic to help the masses in a remote and poor village, ruled by uniformed armed men who sow fear and terror to control the people. With her beauteous looks and principled mind, Lorena quickly catches the eye of the armed men’s bawdy leader. When Lorena disappears under mysterious circumstances, Hugo is initially reluctant to look for her, but eventually decides to head to the village to find his wife. Other stellar cast members include Angel Aquino, Pinky Amador, Hazel Orencio and Bituin Escalante as the on-screen storyteller. The Famas accolade is the second award received by this Diaz cinematic opus. It also won Best Film in the Gems section of the 58th Festival Internacional de Cine Cartagena de Indias in March 2018, and competed for the Golden Bear award in the Main Competition section of the 68th Berlin International Film Festival.

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Wednesday, May 29, 2019

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3 WAYS TO CURB A SHOPPING URGE By COuRTney JeSPeRSen NerdWallet SHOPPING can be a form of relaxation, an entertaining way to spend time or even a hobby. But it can turn into an expensive habit. Whether you sometimes give in to a weakness for designer handbags or brand-name shoes, here are three ways to help you manage the urge to spend. Pick the tactic that works best for you: postponing the purchase, making a plan or doing something else instead. 1. PRETEND (OR POSTPONE). If you want to feel like you went shopping without spending any money, do everything you would when you really shop, but stop short of actually buying anything. Browse online, pick out a shirt in your favorite color and even add it to your cart. If you’re in-store, go window shopping without your wallet. Then wait. “Have some type of cooling off time period before you commit to purchasing the item,” says Ross Steinman, a professor of psychology at Widener University in Pennsylvania. “You should attempt to eliminate consumer decisions in an emotional state. This often leads to impulse buys.” That delay period will vary from person to person, but Steinman suggests waiting at least one day. Depending on the purchase, you could wait a week or even a month before deciding whether to buy the item in question. This might be enough to work the urge to buy out of your system. But just in case, eliminate any remaining temptation. “Delete those items so that they are not waiting for you in your shopping cart only one click away to purchase the next time you visit the online retailer,” Steinman says. 2. PREPARE. But pretending isn’t always a reasonable solution. At some point, you will surely need to buy something. And that’s OK. It’s actually best to still go to stores, rather than avoiding shopping altogether, advises Dr. Kevin Chapman, a licensed clinical psychologist in Kentucky. That is, as long as you’re proactive and prepare yourself mentally before you shop. If you “ride the wave” and confront the emotion driving why you want to shop, you can teach yourself self-control, he says. “Ultimately, you’re teaching your brain a new association. Meaning I can think of a store like Target or Costco or Ikea and think that it doesn’t compel me to shop per se. It’s just another store.” He compares the strategy to overcoming a fear of elevators. “Say I have an elevator phobia. Well ultimately, at some point, I have to confront an elevator,” Chapman says. “But the way you do it is you don’t throw someone into an elevator and say, ‘Sink or swim.’” Instead, you prepare so you know what to expect. As it pertains to shopping, Chapman says to formulate a “game plan.” Recognize that you have a tendency to overspend. Create both a budget and a list before you go shopping (in-store or online). Then, hold yourself accountable to that list and feel a sense of confidence that results when you succeed. 3. PONDER. As you shop, keep track of your buying behavior so you can identify patterns. Steinman recommends noting things like the cost, time of day and what the item was for, among other details. “It will raise awareness about how much somebody is spending and also identify trigger points,” he says. Ask yourself questions about any trends that you notice. Steinman gives examples: Do you mostly make purchases in the late evening? During the day? After you’ve had coffee and increased your energy level? What about after you receive your paycheck? As you do so, think about your emotions. If you’re looking for the high that comes along with shopping, Steinman recommends doing something else in its place that gives you a similar feeling—for example, donating your time or resources. And keep in mind that the temporary emotional high that comes with impulsive shopping is just that—temporary, according to Chapman. It may be a little easier to give up overshopping if you know the feeling is fleeting. AP

Preparing for a job interview SUI GENERIS CARLO ATIENZA

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ATELY, I have been interviewing several candidates for several openings on my team, and I am discovering that most applicants nowadays do not prepare well for an interview. If at all. And it makes me wonder if they are really interested in the job or just practicing their interviewing skills. If they really want the job, they could have done more to prepare for the interview. Navigating yourself through a job interview is one of the important skills you need to get to the top of your career development. Some may have found their dream job and stayed with it for the rest of their lives, but for most it will be from one company to the next. And to get to your dream job, the interview is the first step in finding the right fit for you. To help you prepare for the interview, there are several things you can do. For a start, read the job description. One of the first things I ask applicants is their understanding of the role. Most of them give vague answers hoping they would impress me with using industry slang and jargon but when I press on further, they run out of things to say. Or take the case of someone saying they were referred by a friend who thinks they are good for the role without really reading what it entails. In these cases, I cut the interview short because it is apparent they are on a fishing expedition and it would be a waste of time, particularly mine, to go on. Understanding what the role requires is the first step in making the interviewer know you are interested enough to read the job description. After reading the job description, make a list of projects or tasks you have completed for each major

requirement in the job description. This gives the interviewer a better understanding of why you are right for the position. This will also help you sell yourself and present to the interviewer a track record of your accomplishments. It will also help bolster your confidence because you are prepared, and the interviewer will see you have done your part in ensuring there is a good fit for the position. Also, be direct to the point. When the hiring manager interviews you, they are taking a time off their routine schedule to accommodate you. Being direct to the point is a way of respecting their time but also ensuring you get your message across clearly. You can try practicing with a friend to ensure you give short but clear answers. Do not memorize your lines, however, as it will come off as robotic. Get a general idea of your answer but keep it clear and concise but not sounding rehearsed. When I asked an applicant before why he chose our company, he said his present company has the same culture as ours. So I asked: Why leave? He stammered out an answer about similar benefits. Which brings me to another point: Know a little about the company, especially its vision, mission and core values. Researching about the company helps give the impression you are interested enough to understand what it stands for, and your personal values align with theirs. Interviewers not only have to evaluate job fit but also culture fit—how your values align with the company’s, or at the most basic, with the team’s. They will ask questions of how you handle certain situations to understand if what you will do is similar to what someone in the team might do. In this instance, be very honest. An interview is a two-way process where you both understand if there is a right fit for you to be part of the team and the company. You also need to prepare extra copies of your résumé. Plan to bring extra copies because your HR interview can lead to a hiring manager’s interview if you fit the minimum HR requirements. You will be endorsed to the hiring manager and you want to have a clean copy of your resume because chances are, the first interviewer would have written their notes all over your resume. If you can, bring also a portfolio of your sample works. This will help the interviewer

The next time you get a job interview, think of it as a way of getting closer to your dream job. evaluate your application faster. This goes without saying: Dress the part and be on time. Even if the company follows a casual dress code policy, dress the part for the interview. This gives off a positive impression and helps build up your confidence. Also, prepare by planning to be in the venue several minutes earlier so you do not get flustered looking for it. This will also give you time to be accustomed to the office and calm yourself before talking to the interviewer. Last, prepare a set of questions you want to ask the interviewer. An interview is also a way for you to understand if you see yourself being part of the company, and to see a glimpse of what it is like working there. One of the questions I like is when an applicant asks me about what a typical day at the office is. I get to tell them the fun things we do in the team, as well as give a dose of the challenges we encounter. Other questions you can ask are what the interviewer enjoys about being part of the company, and what are the next steps in the application process. This gives the impression that you are really interested not just in the role, but also in the company as a whole. The next time you get a job interview, think of it as a way of getting closer to your dream job. But to do so, you have to prepare well and understand that the interview is not so much as selling yourself but also discovering the right company for you. And when you find the right one, you have to be prepared or the chance just might pass you. n

The season deserves a smiley SM Megamall recently brought more joy, cheer and smiles to its many customers with its Happy Smiley Summer Campaign. Through its partnership with Smiley World, a lifestyle brand committed in sharing happiness through their Smiley-branded collection, the retail destination aimed to create a happier summer experience, bringing in smiley activations and installations that made shopping more fun and exciting for all. The Smiley Steps at the Mega Fashion Hall entrance was a pictureperfect display of different emojis. Mall goers could lounge around at the Smiley Beach or dive into the Ball Pit which are at the Mega Fashion Hall. Also, everyone was free to take snap shots at the larger-than-life Smiley Chairs which can be found around the mall.

❶ CELEBRATING

❶ Smiley World’s signature smiley, which closely resembles the smiley face created by US graphic artist Harvey Ross Ball in 1963, was created by French journalist Franklin Loufrani in 1971 as a way to indicate to readers of the French newspaper France-Soir which stories held good news. Before the campaign started in 1971, Loufrani registered his smiley face

❷ with the French trademark office, and by the 1990s, he and his son Nicolas held trademarks for the symbol in around 70 countries. In 1996, the Loufranis founded the Smiley Company in London, England, built around the Smiley brand. In 1997, Nicolas created hundreds of emoticons, including a 3D smiley logo. His images, registered with the United States Copyright Office

in 1997, were first published as GIF files on the Internet in 1998, making them the first graphical emoticons used in technology. He launched the SmileyWorld brand shortly hereafter. During the launch, Smiley World’s Asia Pacific Senior Manager Suleeporn Palawechakij graced the event. Influencers including Sirene Sutton, Culver Padilla and actor Lance Raymundo also joined in the fun.

a world of smiles. From left: Ian Mathay, SM AVP for OperationsPremier 2; Cecilia Salva, SM AVP for Leasing; Suleeporn Palawechakij, Smiley World Apac Senior Manager; Karen Fagara, SM AVP for MarketingPremier 2; and Jonathan Brian Chua, SM Megamall Mall Manager.

❷ INFLUENCERS Culver Padilla, Sirene Sutton, and actor Lance Raymundo get their smile on.

BusinessMirror E1 | Wednesday, May 29, 2019 • Editor : Tet Andolong

FILIGREE’S The Enclave Alabang is strategically situated along the growth corridor of Daang Hari.

The best of both worlds in the Metro South

HEN property investors examine a potential development to invest in, a careful review of the developer’s portfolio, the partners involved in the development, the features and amenities available and, of course, its location are qualities that can spell the difference in making a project a highvalue investment in the long-term. In the luxury real-estate space today, one brand has caught the attention of investors and discriminating end-users: Filigree, which has fast become synonymous with exclusivity, exceptional craftsmanship and unrivaled property values. With every project initiated and completed—from high-rise condominiums to low-density horizontal developments—Filigree has challenged, and delivered, the very definition of what luxury should be—each project a prime investment offering blue-chip returns.

An ideal residence for the affluent set

ONE fine example is Filigree’s The Enclave Alabang, situated along the growth corridor of Daang Hari, one of the most coveted locations in the Metro South where Manila’s affluent circles are taking root. This master planned village is in close proximity to leading educational institutions, shopping and leisure centers, top medical facilities and the Metro South’s premier commercial business district Filinvest City, which assures of progressive land values. The main thoroughfares like Muntinlupa-Cavite Expressway, South Luzon Expressway and Skyway surrounding the area make

From a price of P45,000 per square meter in 2015 when the project first came to market, lots are now valued at P70,000 per sq m. This surge can be attributed to the rarity of high-end villages in the Metro South, as well as increased demand for such communities. The fact that more than 90 percent of lots have already been sold shows that The Enclave Alabang has met the standards of the country’s most discriminating buyers, where lot owners are starting to build their homes, drawn by the project’s remarkable features and amenities— the serene charm of an elite, topical modern suburban lifestyle while having the conveniences of modern living right at their fingertips.

The Enclave Alabang highly accessible, as well.

Exceptional features and amenities

World-class, purposeful design

CONCEPTUALIZED and executed by the powerhouse alliance of leading architects, planners and interior designers, including H1 Architecture, AECOM and Budji+Royal Architecture+Design, The Enclave Alabang is a true masterpiece community showcasing an impressive tropical modern design alongside unmatched quality, functionality and style. Raymond Hernandez, principal architect of H1 Architecture, notes that at The Enclave Alabang, “You’re not just buying the house—you’re buying the whole community. It’s about extending your living space. It’s about the little things we’re putting to this house to make it special. To make you feel special. That’s what makes it worth it.”

AS it is nestled in a verdant, low-density environment just over 10 hectares, The Enclave Alabang boasts of a development that’s dedicated to unrestrained greenery—up to 40 percent—the hallmark of which is the Central Park with its rich flora, man-made lagoon, and a canopy of trees that easily rejuvenates the mind and spirit. Serving as the centerpiece village attraction is the expansive 1,500-square-meter Clubhouse that projects a refined modern lifestyle set amid lush greenery as envisioned by Budji+Royal Architecture+Design. The iconic structure has a tropical modern resort feel, featuring a lap pool and a fitness gym. For memorable experiences and events, the Clubhouse also has private function rooms. “The Enclave Alabang presents all the outstanding qualities that make a home a Filigree development,” said Filigree head Catherine A. Ilagan. “From planning to implementation to delivering to our clients, it is a living testament of our vision brought to life, which is to provide real, tangible value investment.”

THE Enclave Alabang is a master planned village that takes pride in a tropical modern design.

A steady increase in land values

ITS land values have been on the rise faster than ever. The exclusive few who have already staked their claim by choosing to own a property at The Enclave Alabang are already reaping the fruits of what is no doubt an incomparable property investment.

THE 1,500-sq-m Clubhouse, which is Enclave Alabang’s centerpiece village attraction

CEMENT FIRM SEEKS TO FURTHER ENSURE SAFETY IN CONSTRUCTION PROJECTS By Roderick L. Abad

G CONSTRUCTION workers take an oath for safety during Republic Cement’s “Go for 5M!” Safety Rally.

@rodrik_28

IVEN the government’s “Build, Build, Build” program, Republic Cement Services Inc. calls for safety in its own construction projects as the company aims to achieve 5 million safe man-hours. Studies have shown that accidents within the place of work lead to loss of operations. In fact, data from the International Labor Organization shows that the Philippines lost in 2013 as much as 66,000 operational days due to cases of occupational injury, which resulted to temporary incapacity for work.

With the safety of its employees on top of its priorities, the cement-maker already recorded 4.5 million safe man-hours for its expansion projects in Bulacan, Batangas and Iligan. This entails that no lost-time injuries or fatalities had taken place within the said timeframe. Not complacent of this accomplishment, the firm recently gathered more than a thousand construction project workers at its Norzagaray Plant Dome for its “Go for 5M!” Safety Rally. Republic Cement has also enjoined construction-industry players for collaboration toward building a safety culture in the sector, through the establishment of the “Republic Contractors Safety

Guild” in 2018. Aboitiz Construction Inc., AECOM, BetonBau Phil. Inc, DAL Elektrik Otomasyon and CME Technology Phil. Inc. were among its contractors represented during the said event. “The construction site is a dangerous place, especially if we don’t have a strong safety culture. We’re very proud of this accomplishment, and we are glad to have our employees and contractors on board in our commitment to safety,” said Republic Cement President Nabil Francis. “Together, we can build a safe environment, where people can go home to their families at the end of the day. Together, we can build a stronger republic,” he added.

Business

E2 Wednesday, May 29, 2019

Shanghai to host largest learning event in real estate

MIKKO BARRANDA, associate director of Leechiu Property and consultants cochairman of ULI Young Leaders Philippines

BUDS C. WENCESLAO, national chairman of ULI Philippines

Amor Maclang

FIRST DIBS IN REAL ESTATE

HAD a chat with the leaders in the real-estate industry, veterans all of the Urban Land Institute’s Asia Pacific Learning Conference. It’s my first time to attend this year and can’t wait to join Team Philippines as we learn from the best practitioners in the region when it comes to building better and more sustainable communities. This year, China’s real estate and economic power house Shanghai hosts the 2019 ULI Asia Pacific Summit which will be held from June 11 to 13. I have always aspired this for Manila—the juxtaposition of a frenetic and dynamic real-estate market side by side with the historic riverside communities (yes the Philippines was once the Venice of SEA). The theme for the summit is bold and audacious, a promise to “Deliver a Sustainable Future,” with the Chinese economy as the back drop of what is the Asian Decade in real estate. Ad mitted ly t here a re head w inds—trade tensions versus China, real or imagined, finan-

cial institutions restricting access to new credit for real-estate purposes, sustainability being the new mark for stability and not new growth. As I am equally passionate about real estate as I am about technology, I am excited to experience the fascinating world of “China-tech.” As mainland innovators continue their quest for a middle ground between technology and humanity, we ask: where is this trend heading and what will the impact be for future generations, both in China and globally? This year’s keynote speaker is Wang Jian, chairman of Alibaba Group Technolog y Committee, founder of Alibaba Cloud, honorary mayor of Yunqi Cloud Town and Xuelang Town and the Volunteer of 2050, who will speak on Technology and Humanity—What is the Future? Wang is a tech-sector legend whom Jack Ma famously described as “cra-

zy” for suggesting Alibaba develop mobile cloud technology which, of course, it then did. Before joining Alibaba, Wang ser ved as deputy head of Microsoft’s Asia research institute standing committee. Before that, he was a professor of Psychology, doctoral adviser and department head at Hangzhou University and Zhejiang University. In 2014, he was listed as one of the China Central Television Top 10 Nationwide Science and Technology Innovators of the Year. Today, with China planning to build a $1-trillion AI industry by 2030, Alibaba has already made huge advances in this area. But current tech is only the beginning—our industry looks to the future as the company continues to develop its cloud-based AI platform. How can technology be used to merge the human and digital worlds? How are recent technology advances changing the way urban spaces are developed? Other topics tackled in the summit include the future of Urban Housing, Growth and Opportunities in Asian Emerging Markets, Climate Change and Resiliency: Protecting Against Nature’s Risks and How China’s Supercity Clusters can provide a driving force for economic growth. As it’s my first time, I thought I would chat with veterans, Buds Wenceslao (BW) chairman of ULI, Charmaine Uy (CU) chairman of Daiichi, Mikko Barranda (MB), cofounder of Acceler8.

1) When was the first time you attended a ULI Asia Pacific?

BW: 2016—Singapore ULI Asia Pac CU: The first time we attended was the 2017 conference in Singapore. MB: The first time I attended the ULI Asia Pacific Conference was back in 2014 in Hong Kong and I have been attending the conference every single year since then.

3) What’s your most memorable study? What did you take away from it?

DR. WANG JIAN, chairman of Technology Steering Committee Alibaba

2) How did it affect your local practice?

BW: I was able to see a different definition of placemaking in terms of a local context with international standards. CU: As a developer, we constantly innovate how we design and develop our buildings. The ULI Asia Pacific conference is a melting pot of new ideas and innovations in property development, real estate and architecture, and attending the conference gives us a wider view of the latest trends and technologies that we can perhaps apply in our future developments. MB: The summit brings together the entire spectrum of senior realestate practitioners under one roof from developers, consultants, urban planners, architects and even government officials. The summit is a great avenue to connect and learn best practices from realestate peers in the region. Also, the content produced and speakers invited each year is an opportunity to learn about global shifts and trends in the market and how we can prepare, apply or take advantage of this in the Philippines.

REPUBLIC CEMENT LAUNCHES FLOW MOBILE LAB By Rizal Raoul S. Reyes

@brownindio

O be able to respond faster to the demands of clients involved in the government’s colossal infrastructure development program, Republic Cement recently introduced its first Fast Laboratory On Wheels (FLOW), a mobile laboratory dedicated to providing technical support to construction and building industry players. “We are keen on providing fast and superior technical support for the country’s construction and building industry players. We are here to help deliver and support our partners’

quality and competency objectives, as we embrace the highest standards in building stronger structures,” Republic Cement President and CEO Nabil Francis said in a recent press briefing held in Bonifacio Global City. “Republic Cement needs to move quickly for infrastructure needs. We want to ensure our product will have quality, durability and strength,” he added. FLOW, a mini-truck with pull-canopy converted into a laboratory, is furnished with equipment and apparatuses that can handle complex solution testing activities such as concrete, aggregate, and cement testing that are often a need in the Philippine construction industry.

“The growing demand for quality construction solution is a primary motivation for Republic Cement’s move to establish its first mobile laboratory,” said Francis. Republic Cement is the top provider for bulk cement in Luzon. Francis stressed the mobile laboratory’s capacity will enable industry players achieve technical advantage, helping the latter reduce production cost, increase profit and consistently produce high-quality products. “This is really about Republic Cement doing our part to ensure that the infrastructure boom in the country is met with high-quality construction materials. We look forward to working

CHARMAINE UY, senior vice president of Daiichi Properties

with our partners to help build a stronger Republic,” Francis explained. So far, Republic Cement is using one FLOW truck to serve their clients. FLOW is the first mobile construction solutions laboratory in the country that can be transformed into a demo area where technical training may be conducted. It can be mobilized quickly to a specific site providing them analysis within hours. Starting June, FLOW will be deployed in the greater Metro Manila area and fast-growing regions in Luzon such as Calabarzon and Central Luzon, to serve the testing needs of ready-mix producers, contractors and dry mortar manufacturers.

BW: My most memorable study tour was this mixed-use development in Singapore which married transport orientation, heritage preservation, office, hotel and retail. Most important, public space was a major element of the projects which allowed the public to penetrate the entire project like a sieve connecting different areas of the city. My most important take away from it is that each project is part and parcel of a city. A city is organic and every building/project is like an organ that has a symbiotic responsibility not just to its neighbors but to the entire city development. Finally, and most important, real estate’s primary benchmark for success is how it relates to the people that use and interact with them. CU: The tour of the Jurong Innovation District in Singapore was a very memorable experience. It was like peeking into the future—a township integrating academe with industry, with spaces for living and playing, and spaces where people can learn and collaborate at the same time. MB: The most memorable study tour for me was in ULI Tokyo back in 2014. Attendees were given the privilege to visit Marunochi District developed by the largest developer in Japan the Mitsubishi Estate. Marunochi is an area stretching from the grounds of the Imperial Palace to Tokyo Station and home to nearly 4,000 companies.

4) What can we expect in the Asia Pacific conference?

BW: You can expect to learn about internationally relevant topics with speakers and thought leaders at the top of their game. You can expect to see/visit world-class projects, through study tours, in the eyes of the owner-developers. It is also interesting and educational to hear the “parti” or central concept of the

specific projects from the principal architects themselves. Finally, you can expect to connect, meet and network with real-estate decision-makers and practitioners from different regions. CU: For this year’s ULI Asia Pacific conference, we expect to be connected with the leaders in the world of real estate, to learn from them as well as to share our experiences with our peers. MB: I expect the conference to be another unforgettable experience for anyone as this will be held in Shanghai. Also, I was given the privilege and honor to be invited to panel in the upcoming ULI Young Leaders Forum. The discussion will revolve around millennials and their impact on design, work and the urban environment. This would be a good opportunity to not only represent ULI but also the Philippines.

5) Who would you say the event is most useful for? Planners? CEOs? Finance? Architect?

BW: It’s useful for anyone who is interested in real-estate development and see all the elements and factors affecting the broader regional context. This year’s theme is delivering a sustainable future. This crosses the entire real-estate spectrum of placemaking, sustainability, proptech and even the economic and political milieu of how the Belt and Road Initiative is having a compounding effect of development in the Asia-Pac region. CU: We think the conference would be useful to CEOs, planners and architects who are planning their next developments. Like us here in Daiichi Properties, we hope that other developers, planners and architects would learn together with us, and raise Philippine property developments to the next level. MB: It would be useful to meet with developers and institutional investors looking to invent or setup operations in the Philippines.

sMirror

Wednesday, May 29, 2019 E3

KMC Savills strengthens capabilities with new offerings

HE increasing need for office, residential, retail, and hospitality spaces are expected to drive expansion in the country’s real-estate sector this year, bringing more economic activity to next-wave cities like Bacolod, Cagayan de Oro, Cebu, Clark, Davao and Iloilo. Going on its 10th year, KMC, one of the country’s fastest-growing property consultancy firms, is building up their capabilities not only to keep pace with the industry’s growth but also to stay ahead in this highly competitive environment. With its latest service innovations, like labor and location analytics, property and facilities management, and the use of artificial intelligence (AI) powered K3, KMC Savills is expected to expand its market share in the business-process outsourcing, information technology, finance, hospitality and gaming sectors. “As we enhance our capabilities through these new services, we are reinforcing our office advisory services, streamlining project management, and strengthening our teams in identified key areas of growth,” shared John Corpus, the new executive director for Worldwide Occupier Services team at KMC Savills. KMC Savills’s Worldwide Occupier Services team is responsible for supporting and driving the firm’s international business development, client relationship management, and implementing growth initiatives and innovation. Corpus will head the Global Workplace accounts group and leverage his over 14 years of experience in real estate trans-

actions management, office leasing, and acquisitions and renewals.

Strengthening talent core competencies

COUPLED with strategic labor management, KMC Savills’s labor and location analytics provide clients with unique and latest insights on market risks and opportunities, and a holistic look on the industry movements, enabling them to optimize these factors in their real-estate decision-making. “Each client has unique purpose, needs and goals for the projects they embark on. We strongly believe in creating for our clients a unique road map to stay on track and quickly adapt to the fast-changing industry,” explained Abraham Puno, manager for Worldwide Occupier Services team. Puno, who, like Corpus, recently joined KMC Savills, has had a wide experience in site selection, acquisition, and negotiation for industrial and retail spaces. When it comes to property and facilities management, KMC Savills has employed especially tailored solutions for their clients, using enhanced, cost-effective, safe and environmentally responsible processes. From building management compliance to strategic engineering solutions, the firm’s especially tailored solutions allow it to provide consultation and solutions in real time.

MANAGER Abraham Puno (from left), Director Carlo Pineda, Executive Director John Corpus and Manager Mike Coronado

“The high demand for flexibility and agility today requires a level of excellence from the Commercial Real Estate (CRE) industry. Our mastery of the landscape gives us the edge in this regard,” stated Mike Coronado, manager for Worldwide Occupier Services team. Coronado has seven years of tenant representation experience, providing property solutions for offices, industrial and retail spaces. Taking advantage of the growing use of artificial intelligence in the various industries, KMC Savills is starting to harness greater efficiency from automation as part of their work systems. Technology tools are being developed to help clients

streamline the process of acquiring or leasing their properties. “As real-estate practitioners, AI gives us a bigger picture of the various factors in managing client portfolios and connect with our audience better. Property acquisition still largely requires human interaction, but with AI, we have, in fact, strengthened human interaction further,” shared Carlo Pineda, the new director for Worldwide Occupier Services team at KMC Savills. Pineda has 12 years of corporate realestate experience, with particular expertise in office leasing and sales, project marketing, lease renewals, lease renegotiations, strategic consulting and landlord consulta-

tion assignments. Apart from these service innovations, KMC opens opportunities for its team members to elevate their expertise through the latest tools, market knowledge and global real-estate education. “We trust that the new service innovations coupled with our world-class talent will bring our diverse roster of clients even further,” stated Michael McCullough, managing director at KMC Savills. “Since we started 10 years ago, the strengths and expertise of our people have been the foundation of the KMC brand in the industry, helping to expand the growth trajectory of our clients and the Philippine economy as a whole.”

BRIA Homes addresses mass-housing backlog in the country

TUDIES have revealed that there is a serious mass-housing backlog in the Philippines today, a problem that BRIA Homes, a leading affordable housing developer in the country, is set to rectify. With a portfolio that touts 700 hectares of land in this country’s progressive towns and cities, BRIA Homes is primed to launch more than 50 housing developments that will help reduce the mass-housing backlog currently being endured by regular Filipino folks such as you and me. BRIA Homes’s philosophy is simple: To offer high-quality homes to all aspiring Filipino homeowners without the prohibitive costs and the complicated processes. Today, average Filipino families are given the opportunity to go after their dream house, thanks to the fastest-growing affordable housing developer in the country. BRIA Homes takes pride in the timely delivery of units with its rapid construction phase. Provinces in Luzon, such as Pangasinan (Urdaneta), Tarlac (Paniqui), Pampanga (Magalang and San Fernando), Bataan (Mariveles and Hermosa), Cavite (General Trias, Trece Martires and Indang), Batangas (Balayan and Lipa), Bulacan (Plaridel, Malolos, Santa Maria, San Jose del Monte and Norzagaray), Rizal (Teresa, Binangonan and Baras), Laguna (Calauan,

Calamba, Santa Cruz, San Pablo, Alaminos, and Bay), and Camarines Sur (Pili and Iriga) have all witnessed the rise of modern and fashionable homes designed for the everyday Filipino man and woman: Elena, a 22-square-meter unit on a 36-sq-m lot; Bettina, a 44-sq-m unit on a 36-sq-m lot; and Alecza, a 36-sq-m unit on a 81-sq-m lot. Likewise, in Visayas and Mindanao, BRIA’s affordable housing options are the talk of the town. The provinces of Negros Oriental (Dumaguete), Samar (Calbayog),

Leyte (Ormoc), Misamis Oriental (Cagayan de Oro, Balingasag and Gingoog), Bukidnon (Manolo Fortich, Valencia), Davao del Norte (Tagum, Panabo and Carmen), Davao del Sur (Davao City and Digos), North Cotabato (Kidapawan), and South Cotabato (General Santos City) are but a few of the cities and towns where BRIA communities have sprung up, fulfilling the aspirations of working-class folks to acquire their own homes for as low as P1,897 per month. To foster goodwill and camaraderie among their residents, BRIA Homes features facilities, such as covered courts, retail establishments, play areas for children, and special venues for events and recreation. All of its communities will have access to business and commercial centers, and shuttle service will enable residents to commute between any BRIA community and nearby destinations with ease and convenience. BRIA Homes is a subsidiary of Golden Bria Holdings Inc., considered the thirdlargest real-estate company in terms of market capitalization valued at more than P200 billion. The fastest-growing mass housing developer in the Philippines, BRIA Homes is primed to bring affordable houseand-lot packages and condominium units closer to ordinary Filipino families. This is the goal that drives every single employee in the company, for which the ultimate fulfillment is seeing a client happily moving into BRIA’s homes. To know more about BRIA Homes, like “Bria Official” on Facebook, and follow “@TheBriaOfficial” on Twitter and Instagram.

MARIELESS R. UY (Federal Land sales referral partner in Dubai); Chary B. Francisco (Federal Land corporate and digital marketing head); Jasmin B. Fisalbon (Federal Land director of sales, Stars Division); John Frederick C. Cabato (Federal Land senior vice president and head of sales and marketing); our sales referral partners in Dubai: Honey Mae de Guzman, Mark Jayson Balaguer, Mark Emman Culapo and Jerome Barrocan.

Federal Land brings real estate to OFWs in Dubai

HE United Arab Emirates (UAE) is reputable as a leading destination for overseas Filipino workers (OFWs); backed by 800,000 strong Filipino population in Dubai and astounding remittance figures from the country, estimated at $6.62 billion in 2018, according to latest government figures. Along with this, OFWs in Dubai continue to experience the benefits of high wages, spurred on by the city’s zero income tax policy and other benefits. With their increased financial literacy, identifying prime areas of real estate has, thus, become a point of interest, as they look to wisely invest in rental spaces or their future retirement home in the Philippines. Introducing OFWs to an array of valuable real-estate opportunities, esteemed real-estate developer of 47 years, Federal Land Inc. recently joined the seventh edition of the Philippine Property and Investment Exhibition (PPIE) at JW Marriott Deira in Dubai. The show was participated by other leading players in the property scene. Federal Land’s presence at the exhibition is mainly underscored by its motivation to keep OFWs in Dubai abreast on its latest residential developments, which are ideal for those looking for homes or properties they can invest in. According to a poll conducted by PPIE event organizer, New Perspective Media Group, out of 10,000 surveyed Filipino expats in UAE, 80 percent considering buying property in the Philippines within the next 12 months. Property tops the list of preferred investments (55 percent), a growingly

popular alternative to putting money into a savings account, money market or insurance. The top 3 locations preferred are Manila, Cavite and Laguna. During the exhibit, Federal Land showcased Palm Beach West - Baler, one of four towers in the company’s sprawling four-hectare Metro Park, a mixed-use estate in Pasay City; Florida Sun Estates-Orlando, the latest phase to join the resort-like and clustered residential development in Cavite City; Siena Towers, a two-tower high-rise residential condominium in Shoe Capital suburban, Marikina City; and Quantum Residences, a millennial-oriented condominium community at Sen. Gil J. Puyat Avenue corner Taft Avenue. In his message during the event, Federal Land’s Senior Vice President and Head of Sales and Marketing John Frederick Cabato urged attending OFWs to “leverage the sustained strength and growth of the Philippines’s real-estate industry.” He emphasized on the value of being decisive and daring in their investment as “their decisions today would shape their future, especially when the time comes for them to head back home.” OFWs showed high interest in Federal Land’s condominium developments, learning how they are ideal for themselves and their families with the properties’ unique design, modern amenities and conveniences, as well as strategic locations, which encompassed proximity to universities, growth priorities by the local and national government, and ideal retirement areas. For more info about Federal Land’s latest developments, check out or visit www.federalland.ph.

Entrepreneur BusinessMirror

E4 Wednesday, May 29, 2019 • Editor: Vittorio V. Vitug

Dylan Wilk, a millionaire turned social entrepreneur

By Rizal Raoul S. Reyes

@brownindio

Contributor

N 2000 when Dylan Wilk was 25, he was named by The Guardian newspaper as one of the top 10 richest men in Britain under the age of 30 bracket. However, despite the wealth, which came from a computer game empire he built that afforded him almost all his material desires, such as a helicopter, a Ferrari F355 Spider, a Porsche 911, a BMW M3 and a BMW M5, all at the same time, he shared that he was not happy. “I realized I was building my life on pleasure instead of happiness. It was very different. Pleasure always has a price tag,” Wilk said in a recent interview with the BusinessMirror. He added that he got bored of the material things he had. “Happiness comes from your relationships, especially when you’re helping [in] God’s purpose.” And so he sold off all his shares in the computer gaming company and traveled the world to find happiness and satisfaction. One of his travels led him to the Philippines to look at the initiatives of the Gawad Kalinga (GK) Community Development Foundation, a poverty alleviation movement committed to combat poverty. His life turned around when he came to the Philippines as he was impressed by GK’s program of helping the poor and so he got involved in the projects. But Wilk noticed that the people did not have decent jobs despite being hardworking. And so he thought of putting up a social enterprise and during one of his trips in the US, he and his wife, Anna Meloto-Wilk observed a growing trend of affordable, natural, eco-friendly products, and that most of the ingredients in these popular beauty and personal-care products, such as coconut, sugarcane and aloe vera are abundantly grown in the Philippines. Thus, Human Nature, was established in 2008, with the aim of

transforming the lives of the poor for the better. Wilk and Anna had to invest P3 million into Human Nature and did not have an option if the business did not work. “There was no plan B and we want to make sure it would work,” Wilk said. Moreover, he even had to borrow P1 million from his mother-in-law because they experienced cash shortage. Nevertheless, there was no turning back and it was a huge challenge for Wilk, Anna and her sister Camille during the initial years because they had to perform multiple jobs. Right from the start, Wilk, Anna, and Camille were determined to make Human Nature products as good, if not better, as those made in Japan, the United Kingdom and the United States. “We made sure whatever we produced are good as imported products,” Wilk pointed out. Although some sectors hail Human Nature for leading in changing the concept of social enterprise in the country, Wilk said, he doesn’t want to claim it because the mission and vision of the company is to help people get out of the poverty trap. “If it’s a charitable concept it will not survive. First thing we realized that it should be excellent and worldclass. We want those products to be made in the Philippines,” Wilk said. Wilk worked for Human Nature to be able to get international certification for the Philippine made products to be able to gain bigger markets overseas. During those days, Wilk noted that people thought products made by social enterprises were wrapped in newspapers. At first, Wilk was reluctant to go full time into the business of making beauty products. Later, the British-born Wilk said he prayed hard to ask for guidance from God to

WILK

determine if it would be a good decision to invest in making beauty products. Nevertheless, Wilk carried on and the company has grown immensely since 11 years ago. It currently has 34 stores nationwide and its brands are carried on the shelves of major supermarkets in the country. Starting with five employees in 2008, Human Nature has now over 400 employees nationwide. Because of its strong commitment to never test on animals, Human Nature earned the Cruelty Free Seal of Approval from the People for the Ethical Treatment of Animals in 2011, the first cosmetics brand in the Philippines to do so. In the same year, Ernst & Young recognized Human Nature as Social Entrepreneur of the Year, an award echoed by the Schwab Foundation the following year at the World Economic Forum. “Our goal in putting up this social enterprise is to get people out of poverty so that they will be no longer poor. Little by little, Human Nature started to provide a salary

Slow Food eyes Cordillera recipes for intl promotion

AGUIO CITY—Slow Food International, an Italy-based organization seeking to preserve traditional foods worldwide, has set its sights on the “mountain food” produced in two Cordillera provinces, with hopes of keeping them on dinner tables for future generations to enjoy. “While Slow Food has already identified local food from two Benguet municipalities and four Ifugao towns, we will still finalize reports and find out how the local communities can help propagate the ‘mountain food’ that are distinctively Cordilleran,” said Elena Aniere, Slow Food International Asia Pacific program director, in an interview over the weekend. Aniere met with representatives of the provinces for additional discussions on the program. SLOW Food International Program Director for Asia Pacific Elena Aniere (right) and “We want to promote differences,” Aniere said. Department of Tourism-Cordillera Officer in Charge Director Jovi Ganongan in a toast She explained that experts from Slow Food during the Tam-awan International Arts Festival in Baguio City on Friday, May 24, 2019. made their rounds in Ifugao and Benguet commu- The two agree that preserving traditional cuisine not only helps the local tourism nities to identify products distinctly Cordilleran. industry but also promotes food sustainability for the indigenous population. PNA “Although some of these food are the same, there are differences when you go from one community been locally produced for generations, making them to another,” Aniere said. indigenous in the region. “You can copy the ingredients, but then the food will Among these are etag (smoked pork) and pinikpikan taste differently because there are ingredients that are among others. Ganongan, a Kalinga, hopes to incorporate distinctively from a certain area that makes the taste the program to the DOT-Cordillera’s vision to promote different,” said Aniere, an Australian. Cordillera cuisine. Aniere explained that their organization is working Currently, Slow Food has more than 100,000 members with the Department of Agriculture to identify food in 150 countries, where local or regional chapters are found. products that will be the subjects of their preservation Slow Food chapters are responsible for events like the and promotion efforts. The Slow Food official also samworld’s largest food and wine fair, the Salone del Gusto pled tap-ey (local rice wine) with Department of Tourism in Turin, a biennial cheese fair in Bra called Cheese, (DOT)-Cordillera Officer in Charge Jovi Ganongan. the Genoan fish festival called SlowFish, and Turin’s Slow Food Vice President Edie Mokiibi, an Ugandan Terra Madre (Mother Earth) world meeting of food agronomist, said they need to promote food that have communities, all in Italy. PNA

above minimum wage. Right now, Human Nature gives an entry level wage of P22,500 a month in Metro Manila for their janitors, drivers, security guards and messengers,” Wilk pointed out. Wilk likes to call a social enterprise a Christian enterprise because of its main objective of helping the poor live a more comfortable life. Wilk added a social enterprise does not solely operate on charity and delivers “tough love” to its stakeholders. He said faith in God is also important because it gives them the energy boost and motivation to carry on. If an individual does not have a pro-people character, Wilk said, he or she is not cut out to be a social entrepreneur. “So the only thing that allowed us to do differently is faith in God. God says put people first and I will take care of the rest.” “It is not like bleeding heart but tough love. Don’t go into social enterprise if you’re not ready to care for people. If you are doing it for your own benefit, it won’t work,” he said.

www.businessmirror.com.ph

Flying taxi start-ups target Asia debut

HE world’s first passengerdrone services may debut in Asia—but the technology behind these flying taxis will be largely European. Volocopter GmbH of Germany said on Thursday it will open a landing facility in Singapore later this year for trial flights, while Austria’s FACC AG is working to produce hundreds of passenger drones for Chinese partner EHang Inc. by the end of next year. While the bulk of air-taxi projects are based in Europe and North America, and several nations say they’re eager to see the craft enter service, there’s concern that progress may be slowed by regulatory hurdles. In Asia, EHang is controlled by stateowned AVIC, while governments in Singapore and territories including Dubai are enthusiastically embracing autonomous transport. Volocopter, backed by Intel Corp. and Daimler AG, has partnered with UK developer Skyports to build a €1.5 million ($1.7 million), 550-square-meter “Volo-Port” in Singapore after conducting test flights in Dubai and Las Vegas. Chief Executive Officer Florian Reuter said the facility in the city state will be “accessible and convenient.” FACC, best known as a maker of light-weight composite parts for Airbus SE and Boeing Co., reckons the move into flying taxis could double annual sales to €2 billion ($2.2 billion) within a decade, according to Chief Executive Officer Robert Machtlinger. The company was recruited by EHang to help lighten the Chinese firm’s 216 drone by at least 15 percent—or about 60 kilograms—to eke out improvements in speed and range. By the end of next year,

FACC will have produced the first batch of 300 units on its Austrian assembly lines. The 216, which sells for €300,000, can currently fly for 70 kilometers at speeds of up to 160 kilometers an hour. In addition to urban shuttle services, it could carry tourists, serve offshore oil platforms and provide support flights after natural disasters. The seating area could also carry cargo. EHang , which has a lready logged 7,000 flight hours with prototypes, has several thousand preorders for the model, and is developing a test range with FACC for flights in Linz. Volocopter will use the Singapore site to test both flight and ground operations, and begin validation of a design that features 18 rotors and, like its EHang counterpart, will be able to carry two passengers in autonomous flight mode. There are more than 100 different electric-aircraft programs in development worldwide, according to consultant Roland Berger. Another is Lilium GmbH, based near Munich. The company says Germany and Europe provide ready access to both the expertise and supply chain necessary to urban air vehicles. Rather than Asia, it’s has so far been publicly linked with operations in cities including Miami and Geneva, and its electric-powered, jet-engined, five-seat model has a range of 300 kilometers—enough to get from New York to Boston or link cities in France and England. That extra distance is achieved by taking off vertically before swiveling its 36 jets to the horizontal and flying like a standard plane, using just 10 percent of the energy of multi-rotor designs. Bloomberg News

AN unmanned Air Taxi EHANG 216 takes off during a press preview of FACC AG on “Urban Air Mobility” at Generali Arena in Vienna, Austria, on April 4, 2019. JOE KLAMAR/AFP/GETTY IMAGES

8 start-ups pitch innovative solutions at PHL Embassy meetup in Berlin

ERLIN—The Philippine Embassy in Berlin, in partnership with the Philippine Trade and Investment Center (PTIC) and Unifier Ventures, hosted the 2nd Philippine Startup Meetup in Berlin on May 16, 2019, as a satellite event of the Asia Pacific Week (APW) 2019 organized by the Asia Pacific Forum Berlin and the Berlin Senate Department for Economics, Energy and Public Enterprises. More than 60 guests attended the meetup and listened to pitches by eight start-ups, some of them based in the Philippines and others based in Europe but with a Philippine component in their operations. The start-up companies included MedCheck, NxtLvl Agri, NxtLvl Water, FoPo, OneWatt, Mineski, Twyla and Romi. Elmar Broscheit of Macquarie Capital and Alexander Reinhardt of RIG Berlin GmbH, a start-up accelerator focusing on F&B, served as the judges. Ambassador-designate to Germany Theresa Dizon-de Vega, who was, at that time, in Manila on overseas absentee voting duties, remotely opened the event with a video message. She highlighted government

efforts to increase ease of doing business in the country, and to bolster its competitiveness by strengthening both its physical and human resource infrastructure. Dr. Rainer Seider, who heads the International Cooperation unit at the Berlin Senate in charge of APW, then gave his welcome remarks in which he noted the progress of cooperation between the Philippines and Berlin in the field of start-ups through the StartUp Asia Berlin (SUAB) initiative. Trade and Industry Undersecretary for Competitiveness and Innovation Dr. Rafaelita Aldaba delivered the keynote message, where she cited the Philippines rapid economic growth and development, the accompanying challenges, and the need for innovation to address them. Unifier Ventures Managing Director Miguel Encarnacion, a Berlinbased early-stage start-up investor under the corporate umbrella of Philippine Business Seaoil, talked about synergies and opportunities for collaboration between the European and Southeast Asian start-up ecosystems. Each start-up was given four minutes to make their presentation,

followed by one question each for the two judges. After the eight pitches, the Judges’ Prize was conferred on OneWatt, while the Audience Prize went to NxtLvl Water. OneWatt, which was represented by its Asia Pacific Regional Director Lorenzo Yabut, helps diagnose problems with industrial machinery through noninvasive sensors and machine learning algorithms that “listen” to motors. The judges, in selecting the company, noted that it was the most unique among the eight presenters, with a solution they had not yet seen anywhere else. NxtLvl Water, on the other hand, won the audience members over with their promise to help solve the problem of access to clean water faced by many Philippine communities. Represented by Derya Tanghe, they aim to provide affordable and highquality water out of modularized stations kitted out with cutting edge desalination technology. The embassy aims to be on the leading edge of collaboration between the Philippines and Europe in the start-up space. It hosted the inaugural Philippine Startup Meetup in the German capital in June 2018.