Businessmirror November 16, 2018

DUTERTE: BEST EFFORT TO MEET 3-YEAR C.O.C. TIMELINE

By Bernadette D. Nicolas @BNicolasBM

S EAST ASIA Summit leaders pose for a group photo during the 13th East Asian Summit Plenary on the sidelines of the 33rd Asean Summit in Singapore, on Thursday, November 15, 2018. From left: Vietnam’s Nguyen Xuan Phuc, South Korea’s Moon Jae-in, the Philippines’s Rodrigo Duterte, New Zealand’s Jacinda Ardern, Myanmar’s Aung San Suu Kyi, Malaysia’s Mahathir Mohamad, China’s Li Keqiang, Russia’s Vladimir Putin, Singapore’s Lee Hsien Loong, Thailand’s Prayuth Chan-ocha, US Vice President Mike Pence, Australia’s Scott Morrison, Brunei’s Hassanal Bolkiah, Cambodia’s Hun Sen, India’s Narendra Modi, Indonesia’s Joko “Jokowi” Widodo, Japan’s Shinzo Abe and Lao’s Thongloun Sisoulith. AP/YONG TECK LIM

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

INGAPORE—President Duterte said here he will try his best to comply with the three- year timeline agreed upon by the Association of Southeast Asian Nations (Asean) and China to conclude the Code of Conduct (COC) in the South China Sea. On the sidelines before attending the Asean-India Summit, Duterte reiterated that there is an urgent need for the COC. The Philippines is the dialogue coordinator for the Asean-China Dialogue Relations until 2021. “Well, you know I’m the country coordinator for AseanChina. I will try my best.I made a very See “Duterte,” A2

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A broader look at today’s business n

Friday, November 16, 2018 Vol. 14 No. 37

BSP hikes key policy rates to tame inflation

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By Bianca Cuaresma

@BcuaresmaBM

ITING the need to ease inflationary pressures, the Bangko Sentral ng Pilipinas (BSP) decided to continue its tightening cycle by approving a 25-basis-point hike during its meeting on Thursday.

At its meeting on monetary policy, the Monetary Board effectively brought its overnight reverse repurchase (RRP) interest rate to 4.75 percent, from 4.5 percent. Interest rates on the overnight lending and deposit facilities were raised accordingly.

BSP Officer in Charge Maria Almasara Cyd Tuaño-Amador said that the latest inflation forecast point to the possibility that the rate will settle within the target band of 2 to 4 percent next year and in 2020, several developments may cause inflation to accelerate.

See “Rate hike,” A2

Balangiga bells’ return opens door to Duterte US trip

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HE official confirmation that the Balangiga bells will be returned to the Philippines has opened the door to the possibility that President Duterte will visit the United States.

Foreign Affairs Secretary Teodoro Locsin Jr. said in a briefing with reporters covering the Asean summit in Singapore that the bells’ return had been the condition set earlier for Duterte to consider visiting the US. The President has also said on various occasions that he will not talk to US top officials until the bells are back in Manila’s possession.

The three bells were taken as war booty by US troops after the Balangiga massacre, where American soldiers torched a town in Samar and killed Filipinos in retaliation for an attack on them by Filipino insurgents “Now the point of that was, I reminded everyone, that I said, ‘By the way, when this was raised, I said, he won’t go there until the Balangiga bells are returned.’ Well, they’re coming back so he will have to go there, to the United States. I would think.

If that’s the condition he made,” Locsin said.

See “Balangiga bells,” A4

2017 EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

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

Filing of case against Davidson Bangayan alias David Tan long overdue Dr. Jesus Lim Arranza

Make Sense

F

INALLY, the long wait is over. After five years of anxiously waiting for the government to file a case against Davidson Bangayan, who is also known as David Tan, allegedly a big-time rice smuggler, the Department of Justice (DOJ) has found probable cause to press charges against Bangayan. And if there is anybody who is most happy about the recent DOJ findings, it is definitely me.

As an anti-smuggling advocate. I have been involved in other legal issues concerning smuggling, an economic scourge that causes the government to lose over P200 billion in revenues from duties and taxes on imported goods each year. But the Bangayan case is an important one for me, for I have been charged, not only once but twice, by Bangayan with libel on the issue. Both were, however, dismissed by the courts.

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BSP regulates all online payment schemes in new law

By Samuel P. Medenilla

O 40TH CMMA D. EDGARD A. CABANGON (third from left), acting chairman of the Catholic Mass Media Awards (CMMA), is seen with Msgr.

Gabriel Viola (to his left), executive assistant of the Apostolic Nuncio, who was a special guest during the 40th year presentation program of the awards on Wednesday night (November 14) at the Star Theater at the CCP Complex, Pasay City. With them are (from left) Fr. Hans Magdurulang, the judges’ coordinator; Fr. Joselito L. Buenafe, chairman of CMMA production and trustee; Benjamin V. Ramos, assistant to the acting CMMA chairman; and Fr. Rufino C. Sescon Jr., CMMA executive director and trustee. Story on page A2. CONTRIBUTED PHOTO

PESO EXCHANGE RATES n US 53.0470

@sam_medenilla

NLINE payment schemes and transactions are now officially regulated by the Bangko Sentral ng Pilipinas (BSP) under the newly signed Republic Act (RA) 1127, or the Payment Systems Regulation Act. Malacañang announced on Thursday the law was signed by President Duterte on October 30, 2018.

BSP is now required to ensure the concerned operators will be responsible for the maintenance and operation of a safe, efficient and reliable payment systems using international standards.

Only those with the necessary

financial resources, technical expertise and reputation will be granted by the BSP a license to operate such payment systems.

“The licensing process shall include, but not limited to, an assessment of the ownership, structure, governance, key personnel, business model, risk management, and financial resources,” according to the law.

BSP may accredit a governing body for a specific payment system for the purpose of self-regulation.

RA 1127 also grants the monetary body the authority to operate and own a payment system.

The much-awaited legislation will mandate all payment systems operators listed in the law to

n JAPAN 0.4675 n UK 69.0301 n HK 6.7732 n CHINA 7.6327 n SINGAPORE 38.5152 n AUSTRALIA 38.4007 n EU 60.0704 n SAUDI ARABIA 14.1395

See “BSP,” A2

Source: BSP (15 November 2018 )

News

BusinessMirror

A2 Friday, November 16, 2018

DOT scraps Madrid Fusión Manila 2019 on budget woes

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE Department of Tourism (DOT) has canceled the fourth edition of Madrid Fusión Manila (MFM), previously set for April 2019, due to budgetary constraints.

In an interview with the BusinessMirror, Tourism Secretary Bernadette Fatima Romulo Puyat said: “After the unfortunate experience of the DOT and the Tourism Promotions Board [TPB] with largeticket projects in the recent past, we felt we had a fiscal responsibility to taxpayers to spend our limited budget more wisely. We have to prioritize the projects we will assist.”

T he Commission on Aud it (COA) had earlier tagged the DOT and TPB for financial irregularities in controversial multimillion-peso projects, which led to the eventual resignations of former Tourism Secretary Wanda Corazon TulfoTeo and TPB Chief Operating Officer Cesar Montano.

Under the national expenditure program for fiscal year 2019, the DOT’s proposed budget is P3.4 billion as it targets some 8.2 million in foreign visitor arrivals. This is slightly less than this year’s P3.48 billion.

“We will continue to focus our

resources on the many pressing challenges in the industry,” said Romulo Puyat, “in particular to address the needs of sectors that require support as stakeholders adopt our policy of sustainable tourism.”

She added, given the urgency of those demands, “we are fully dedicated to optimizing DOT’s resources and allocating our budget toward programs and projects that directly impact communities, especially at the grassroots, that need government aid to be sustainable. Efforts such as the development of farm tourism will provide a dependable source of income for Filipinos in their locales but will also be vital to countryside development.”

MFM is an annual gastronomy event which local chefs, culinary professionals, culinary students and foodies look forward to. The project was initiated under the term of former Tourism Secretary Ramon Jimenez Jr., with the very

first edition held in April 2015. Under the terms of the memorandum of understanding between Foro de Debate, the Spanish organizer, and the DOT, the Philippine government has to fork over a $6-million franchise fee annually to be able to hold the Manila edition.

The DOT chief, however, left an opening for the private sector to take up MFM 2019. “The private sector is free to link up with Foro if they wish to take on the project on their own,” she said.

On whether the fourth MFM could be held in 2020, Romulo Puyat said, “We will see how much funds will be available for us. Our budget hearing for FY 2020 will be held sometime in the middle of 2019 yet.

We will keep you posted if there are any changes in said project.”

MFM features foreign Michelinstarred chefs and local chefs who present their philosophies and demonstrate culinary techniques during the international gastronomy congress. At the same time, regional lunches featuring the country’s most popular chefs who use local ingredients are held during the three-day event. There is also an exhibit of local and Spanish food ingredients, Philippine produce, beverages, artisanal food creations, as well as kitchenware and chef’s apparel.

When she was an undersecretary at the Department of Agriculture (DA), Romulo Puyat was

among MFM’s ardent supporters.

The DA, as a partner agency, provided the local food ingredients for the local chefs’ dishes during the special regional lunches.

“We in the DOT recognize what the local food industry has contributed in promoting the country as a vibrant culture with its own unique flavors to the world,” she said. “This was only strengthened by events such as Madrid Fusion Manila, which not only helped in creating a discussion about Filipino cuisine abroad but also in cultivating a more robust interest in our homegrown agricultural produce within the local culinary scene.”

The DOT vowed to continue supporting Filipino gastronomy by focusing its efforts on areas that will make it truly sustainable. “Our regional offices will continue to develop and improve culinary and farm tourism product offerings, while the department’s foreign offices will continue to promote the country as a premier culinary destination to the international market,” said Romulo Puyat.

The fourth edition of MFM was supposed to have been held this September, but due to the leadership changes that took place in the DOT and TPB, as well as the lack of time and venue, the event was moved to April 2019. (See, “DOT moves 4th Madrid Fusión Manila to 2019,” in the BusinessMirror, June 22, 2018.)

Fight use of tech to twist facts, push respect for truth–Tagle at CMMA

By Samuel P. Medenilla @sam_medenilla

R

ESPECT the truth and your audience. This was the appeal of Luis Antonio Cardinal Tagle to media practitioners in his message during the historic 40th Catholic Mass Media Awards (CMMA) ceremony held at the Star Theater in Pasay City on Wednesday night.

Tagle lamented how disrespect for the truth has led some media users to strategically utilize their respective mediums to manipulate the perspective of their audience of facts.

“Indeed it is disheartening that modern means of communication have been reduced to strategies to manipulate people...

We need to recover this basic respect for people and the truth.

We need to educate and work for the truth,” Tagle said.

Citing Pope Francis’s 2018 World Communication Sunday message, the prelate said communicators play a big role in fa-

Duterte. . .

Continued from A1

strong statement yesterday about the urgent need for a COC so that everybody will know. Because when you claim an ocean, the whole of it, then that is a new development in today’s world. So any sense, it would also change”radical changes in the laws of governing international waters, particularly the right of free passage or the right of innocent passage,” Duterte said.

Meanwhile, the President also pointed out that America should by this time consider as a given China’s presence in the disputed waters.

“And all of these things, China is there. That’s a reality and America and everybody should realize that

cilitating their audience’s good relationship with God. “He [Pope Francis] points out that when we are faithful to God’s plan, communication becomes an effective expression of our responsible search for truth and our pursuit for goodness,” Tagle said.

The short message was read by Fr. Rufino C. Secson Jr., CMMA trustee and executive director, as Tagle was unable to attend the event because of an illness.

D. Edgard A. Cabangon, CMMA acting chairman, echoed Tagle’s call for media practitioners to counter misinformation in line with CMMA’s theme for this year: “The truth shall set you free.”

“We believe there is no better time for media practitioners to uphold tr uthfulness and putting to good use the power they have in reaching a wide audience through their works that today will be graced with the challenge of defending the truth against deception and lies,” Cabangon said.

they are there,” he said.

He also cautioned against the conduct of any high-profile military activity that could prompt a response from China.

“I do not mind everybody going to war, except that the Philippines is just beside those islands.

And if there’s a shooting there, my country will be the first to suffer.

That’s my only in—that is my only national interest there. Nothing else,” he added.

On Wednesday, Duterte said he is determined to push the COC “at all costs”, noting that everything is going well between China and the rest of the world except that the Philippines is tied with the mutual defense treaty with the United States which keeps it from shooing away the Western superpower.

Out of the 677 entries received

by CMMA for its eight categories this year, 289 became finalists.

The categories for CMMA are print, television, radio, advertising, music, cinema, online media and student.

Tagle hailed the growth in the number of entries for the 2018 CMMA compared to previous years, saying this shows more media practitioners are interested in getting the Church’s recognition.

“Through the years it [CMMA] has worked to promote Christian values, as well as positive Filipino traits and traditions through the use of mass media,” Tagle said.

“It is, therefore, encouraging and gratifying that year after year there has been a steady increase in the number of entries from mass media practitioners who dedicate their work for the cause of values formation,” he added.CMMA, established by the late Jaime Cardinal Sin in 1978, is one of the longest local

BSP. . .

Continued from A1

register with the BSP within six months from the effectivity of the Act. The Monetary Board will then prescribe a “reasonable period” for new payment systems operators that will register after the said deadline.

It may “designate” or flag a payment system if it determines that such will pose a “systemic risk” with its continued operation.

The BSP will impose fines on individuals or entities that operate a payment scheme without a license, with the fines not exceeding P1 million for each transactional violation, and P100,000 per d ay for eac h cont inu ing

award-giving body for the media.

It was organized by the Archdiocese of Manila.

Among the notable awardees during the 40th edition of CMMA were the three Hall of Fame recipients: Wilson Y. Lee Flores for his column in the Philippine Star; Failon Ngayon sa DZMM; and Word and Life Publication.

Recipients of the Hall of Fame should have won at least five times in their respective categories in the CMMA. Other special awards recipients in the event were the Department of Journalism and Communication of the University of San Jose Recoletos Cebu City (St. John Paul II Award) and the Shepherd’s Voice Radio and TV Foundation Inc. (Serviam Awardee).

The Serviam Award is given to groups and individuals who transmit Christian values in media-based programs; and the St. John Paul II Award, to groups and individuals who use media creatively to uphold values.

violation depending on the gravity of the violation.

Violators of R A 1127 face the following sanctions: fined not less than P200,000 or more than P2 million; imprisonment of not less than two years nor more than 10 years; or both fine and imprisonment at the discretion of the court.

The BSP will issue the implementing rules and regulation of RA 1127 within 60 days from the new law’s promulgation.

RA 1127 will officially take effect 15 days after its publication in the Official Gazette or two newspapers of general circulation.

The BSP has been pushing for the legislation to combat irregularities in unregulated online payment and transactions.

www.businessmirror.com.ph

Xi Jinping visiting PHL from Nov. 20-21

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T’S confirmed: Chinese President Xi Jinping will be coming to the country next week.

Ma l ac a ñ a ng of f ic i a l ly a nnounced on Thursday the Chinese leader will arrive in the country for a state visit on November 20 and 21 after accepting the invitation of President Rodrigo R. Duterte.

Duterte extended the invitation to Xi Jinping in 2016.

During the two-day visit, Duterte is expected to raise multiple con-

cerns with his Chinese counterpart.

“The two leaders will exchange views on areas of mutual concern and chart the course for the future of Philippines-China bilateral relations,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a statement.

Xi had visited the country in 2015 to attend the Asia-Pacific E conom ic Cooperat ion leaders’ meeting, which was hosted

by Manila.

RCEP, world’s largest free trade deal, will be forged by 2019, says DTI chief

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INGAPORE—Trade Secretary Ramon M. Lopez is confident that the world’s largest free trade deal will be forged by 16 negotiating countries next year since they are already 90 to 95 percent done with Market Access on Goods, Investments, and Services.

These chapters are currently the focus of participating countries as they enter the “most critical” stage of the negotiations.

On Tuesday, Lopez said seven out of 18 chapters have been concluded since the negotiations started in 2012.

He has since said that the current round of talks “took a little while” since countries outside Asean have no free trade agreement with each other.

“The other chapters like the Market Access to Goods, Services to Rules of Origin, they are set by now. That is where the negotiations took some time but right now we see the offers, the submissions, the request of each country already in the vicinity of the target range. We are not just declaring it closed but the numbers are already there so we just need to fine-tune next year,” the trade chief told the BusinessMirror on the sidelines of the 33rd Association of Southeast Asian Nations Summits and Related Summits at Suntec Singapore International Convention and Exhibition Center.

Lopez said the 90-95 percent completion refers to the progress of the submissions of the countries and meeting up with the within the range of agreed parameters.

“In other words, you are looking at 90 to 92 percent liberalization. The number of sectors and subsectors in the services that are included are almost done,”he said.

Rate hike. . .

Continued from A1

“After considering the impact of nonmonetary measures including the rice tariffication bill and the suspension of the oil excise tax, the Monetary Board decided to raise the policy rate by 25 basis points given the upside risks to the inflation outlook and given that inflation expectations have remained elevated as supply side and possible wage pressures continue to drive price developments,” Amador said.

The BSP official said the Monetary Board deemed it necessary to respond with “proactive policy action” to temper the risks to the inflation outlook.

She cited, in particular, the continued uncertainty caused by tighter global financial conditions and trade tensions among major economies.

Despite the “disappointing” GDP growth in the third quarter, Amador said the country’s economy could still handle another rate hike.

“The Monetary Board believes that prospects for the domestic economy remain generally favorable and allow some scope for a measured adjustment in the policy rate to rein in inflation expectations and preempt further second-round effects,” she said.

The lower-than-expected GDP growth of 6.1 percent in the third quarter prompted some analysts to call for a pause in the BSP’s tightening cycle.

“We think the price stability objective can still be firmly safeguarded because the growth prospects of the economy continue to be

In the joint statement issued on Wednesday, the concerned parties said negotiations on goods and services market access and on Investment Reservation Lists have “advanced significantly” with all countries engaging in a series of bilateral and plurilateral negotiations throughout the year.

“There has been a genuine effort

by RPCs (RCEP Participating Countries) to progress market access negotiations while recognizing that different RPCs have different sensitivities toward each other. RPCs are within reach of concluding market access negotiations to meet the goals in the Guiding Principles and Objectives for Negotiating the RCEP, but some work is needed to close the remaining gaps,” the statement read.

“Special consideration may need to be given to the fact that not all RPCs have in place bilateral free trade agreements among themselves, without undermining the potential expansion and deepening of regional supply chains among the 16 RPCs.” Singaporean Prime Minister Lee Hsien Loong said during the press conference after the closing of the Asean Summit that they would have been delighted if the RCEP deal had been settled under their chairmanship.

“It would have been an extra little feather on our cap. But we understand that political exigencies, we appreciate that a lot of progress has been made and we are very close to the finish line. I think what was committed . . . [that] we will be able to complete the negotiations next year is a strong commitment and I have a reasonable confidence that it will happen,” Lee said. Bernadette D. Nicolas

cautiously optimistic,” Amador said.

Revised inflation forecasts

BSP officials also announced their new inflation forecasts for this year and the next two years, with the rate expected to settle within the government’s target in 2019 and 2020.

For this year, the BSP revised upward its inflation forecast to an average of 5.3 percent, from 5.2 percent. This projection took into account international oil prices, adjustments in transport fares, updates in the latest inflation print and the third-quarter growth rate.

Inflation is now at an average of 5.1 percent in the first 10 months of the year. This means that the BSP expects inflation to average at 6.3 percent in the last two months of the year. Inflation in October was steady at 6.7 percent.

For 2019, the BSP sees inflation settling at 3.5 percent, from its previous forecast of 4.3 percent.

Officials said the downward adjustment in the 2019 forecast was a result of recent developments, particularly the approval of the rice tariffication law in the Senate.

For 2020, the BSP expects the inflation rate to reach 3.3 percent, from 3.2 percent.

The BSP remained in a hawkish tone on Thursday, saying the Monetary Board will continue to emphasize the need for followthrough nonmonetary measures to mitigate the impact of supply side factors on inflation.

“The BSP remains prepared to take appropriate policy actions as needed to ensure the achievement of its price and financial stability objectives,” Amador said.

www.businessmirror.com.ph

The Nation

briefs COURT AFFIRMS GUILTY VERDICT ON PALPARAN, 2 OTHERS THE Regional Trial Court (RTC) of Malolos, Bulacan, on Thursday affirmed its ruling, which found Army Maj. Gen. Jovito Palparan and two other army officers guilty of kidnapping and serious illegal detention of two female University of the Philippines students in 2006 who have remained missing since.

In a two-page resolution issued by Malolos RTC Branch 15 Presiding Judge Alexander Tamayo, the trial court held that Palparan failed to raise new arguments that would warrant the court’s reversal of its decision that sentenced him and Lt. Col. Felipe Anotado Jr. and S/Sgt. Edgardo Osorio to reclusion perpetua or a maximum of 40 years.

“The court has carefully perused the argument raised in accused motion for reconsideration and those contained in the…comment/opposition, thereto, and finds the motion for reconsideration offering no justification to compel this court to modify or reverse the assailed decision dated September 17, 2018,” the RTC decision said. Joel R. San Juan

SOLID WASTE MGMT DRIVE FOCUSES ON CHILDREN, YOUTH DETERMINED to address the country’s burgeoning garbage problem, Environment Secretary Roy A. Cimatu has vowed to intensify the campaign on solid waste management.

In a news statement issued on Thursday, Cimatu said all field offices of the Department of Environment and Natural Resources (DENR) will be directed to intensify the information campaign—with particular focus on children and youth.

Cimatu said he believes that public education and involvement can positively impact the environmental attitudes and behaviors of young people and increase their knowledge of proper solid waste management.

The difficulty of changing attitude toward trash, he added, lies in preventing people from littering or managing their waste—whether on the streets or in establishments or homes, and whether disposal units are available or visible. Jonathan L. Mayuga

P.A.O. FILES ADDITIONAL DENGVAXIA CASES VS. GARIN, 37 OTHERS THE Public Attorney’s Office (PAO) on Thursday filed new criminal complaints before the Department of Justice (DOJ) against former Health Secretary Janette L. Garin and 37 others in connection with the deaths being attributed to the anti-dengue vaccine, Dengvaxia.

Families of schoolchildren Shiela Mae Guerra and Gillian Vasquez were assisted by PAO lawyers in filing the complaint of reckless imprudence resulting in homicide and violations of the AntiTorture Act and Consumer Act before the DOJ. Joel R. San Juan

BusinessMirror

Editor: Vittorio V. Vitug • Friday, November 16, 2018 A3

China’s Mofa brands reported Benham Rise claim as a ‘hoax’

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By Recto Mercene

@rectomercene

HINA’S Ministry of Foreign Affairs (Mofa) has branded as a “hoax” the claim of blogger Silent No More PH that the Asian giant has claimed Benham Rise as Chinese territory.

The blog said: “Chinese Foreign Minister Wang Yi claimed the ‘entire eastern Philippine Sea and Benham Rise as Chinese territory.”’

Silent No More PH is an opposition blog who published the claim on November 9, garnering 1,700 reactions, 480 comments and 1,500 shares.

The full quote reads: “We are the first sovereign state who did scientific research and completely mapped the Benham Rise, therefore, in behalf of the People’s Republic of China, I, Wang Yi, foreign minister, claim the entire eastern Philippine Sea and declare Benham Rise as Chinese territory.”

China’s Mofa said the blog was accompanied by a photograph of Minister Wang Yi, captioned: “Dear Fellow Filipinos, Made possible with the all out support of traitor Katay Digong! Dati WPS, ngayon pati Benham Rise! Kailan pa kayo magigis-

ing sa bangungot nito? [When will we wake up from this nightmare?]”

The Mofa said the claim was also posted

by Facebook user Mariz Cruz on the same date. “Readers also sent this claim to Rappler for verification.”

China vehemently denied their claim, and replied to the blog by saying “Rating: False. The facts: There is no such quote from Wang.” “A foreign minister or secretary’s statements are deemed to reflect a country’s position on issues. Therefore, any declaration should be supported by official documents, press releases or reports,” it added. “ This supposed declaration by Wang cannot be found on the web site of China’s Ministry of Foreign Affairs, the web site of the Chinese Embassy in the Philippines, the Philippine Department of Foreign Affairs web site, nor in any news report from cred-

ible news organizations,” it added.

Benham Rise is in the Philippines’s eastern seaboard, far away from the West Philippine Sea. It is not disputed territory.

Unlike Scarborough Shoal, no other country is claiming the underwater plateau believed to be rich in minerals and gas. Benham Rise is a 13-million-hectare underwater plateau near Aurora province. It is larger than Luzon, the Philippines’s biggest island, and is considered part of the Philippines continental shelf.

Marine law expert Jay Batongbacal said in a previous statement that Benham Rise “is potentially a rich source of natural gas and other resources, such as heavy metals. It is about 2,000 meters to 5,000 meters deep, but remains largely unexplored.”

In 2012 the United Nations Commission on the Limits of the Continental Shelf (UNCLCS) confirmed Benham Rise as part of the Philippines’s continental shelf. Under the UN Convention on the Law of the Sea, the continental shelf comprises the seabed and subsoil of the submarine areas 200 nautical miles (NM), or 370 kilometers, from a state’s baselines or “edges.”

Parts of the continental shelf beyond the 200NM provision need to be claimed before UNCLCS. Three years after the Philippines first filed its claim and defended it before the commission, the UNCLCS approved Benham Rise as part of the Philippines’s extended continental shelf.

A4 Friday, November 16, 2018 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

OFW remittances hit 1-year low in September–BSP

By Bianca Cuaresma

M

@BcuaresmaBM

ONEY sent by overseas Filipino workers (OFWs) at the start of the so-called “ber” months this year hit its lowest volume in 12 months, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The BSP reported on Thursday that total cash remittance in September hit $2.237 billion, growing by 2.3 percent from its volume in the same month last year at $2.186 billion.

While September 2018’s remittance flow registered growth from the previous year, it is the lowest monthly volume of remittances in 12 months, or since September last year.

$2.237B The total OFW cash remittance in September, which the BSP says is the lowest monthly volume of remittances a year ago

The muted cash remittance flow for the month brought the total nine-month remittance cash inflow to $21.294 billion, up 2.5 percent from the $20.781 billion in the same January-to-September period last year.

The BSP projects remittances to grow by 4 percent on average for 2018. This means that to achieve this projection, money from Filipino migrant workers must post a monthly growth rate of 8.5 percent in the last quarter of the year.

BSP Officer in Charge Maria Almasara Cyd Tuano-Amador said over the nine-month period, cash remittance from both land-based and sea-based workers grew during the period.

Remittances from land-based workers, in particular, grew 2.2 percent to hit $16.8 billion, while those from sea-based workers grew 3.5 percent to hit $4.5 billion.

By country source, more than 79 percent of the total cash remit-

tance for the first nine months of the year came from the United States, Saudi Arabia, the United Arab Emirates (UAE), Singapore, Japan, the United Kingdom, Qatar, Canada, Germany and Hong Kong.

Meanwhile, the countries that contributed to the increase in remittances in September this year are Canada, the United States and Taiwan.

Remittances are expected to spike toward the end of the year as the holiday season approaches. This also provides support for the projected strength of the peso by year-end.

Also, remittances make up for about 10 percent of the country’s gross domestic product.

A welcome relief, oil firms say of fuel excise tax freeze

By Lenie Lectura

O

@llectura

IL companies on Thursday welcomed the government’s decision to suspend the implementation of the second tranche of increased excise taxes on fuels effective January 1, 2019.

The Philippine Institute of Petroleum (PIP), which is composed of Petron Corp., Pilipinas Shell, Chevron, PTT Philippines and Isla LPG, said this is a welcome relief to consumers.

“The government’s move to address the impact of inflation to our consumers and the general public is appreciated,” said PIP Executive Director Teddy Reyes.

The country’s economic managers recommended the suspension.

Malacañang approved it on November 8, but was announced only the other day.

“It’s really a welcome development. Any additional cost is passed on to consumers. So, if it’s possible to keep prices of fuel down, then that’s much better for us. It does not mean that whenever fuel prices are up, the profit of oil firms will also go up. We just enjoy a fixed margin, and the higher cost of fuel will only mean higher capital for oil firms needed to buy the products, “ said Independent Philippine Petroleum Companies Association (Ippca) President Bong Suntay in

It’s really a welcome development.... It does not mean that whenever fuel prices are up, the profit of oil firms will also go up. We just enjoy a fixed margin, and the higher cost of fuel will only mean higher capital for oil firms needed to buy the products.”—Suntay a phone interview.

Ippca has at least 16 members composed of the country’s leading independent oil players, such as Eastern Petroleum Corp., Unioil Petroleum Philippines Inc., Seaoil Philippines, Flying V, City Oil, Pryce Gases and LPGMA, among others.

Energy Secretary Alfonso G.

Cusi, in a text message, said the decision “shows the sensitivity of the administration to the needs of our people.”

Malacañang clarified that its decision only suspends the scheduled increase provided in the Republic Act 10963, more commonly known as the Tax Reform for Acceleration and Inclusion (TRAIN) law.

The TRAIN law, which went into effect in January, increases the excise tax imposed on oil products from 2018 to 2020.

For 2019, the excise tax on fuel products will go up by another P2 per liter.

Under the law, the increase can be

suspended if the three-month average price of Dubai crude oil reaches at least $80 per barrel.

“We leave it to the best decision of the government to implement the suspension irrespective of whether the conditions for suspension as provided by the TRAIN law was met,” added Reyes.

Manila Electric Co. (Meralco) President Oscar Reyes, who was present during Thursday’s K-Ligtas awards, commented that the suspension is a “very positive development that will help moderate inflation rate.”

“This is a welcome relief. In terms of rates, there will be some minor impact because it will not put pressure on our operational expenses, which is a component of overall rates,” the Meralco official said.

The government was prompted to suspend the second round of excise tax hikes on petroleum products due next year mainly because of the rise in world oil prices.

Balangiga bells’ return opens door to Duterte US trip continued from a1

Asked if he has already raised this question about the President going to the United States especially with the new development, Locsin said the President smiled and said, “Yes.” The Department of Foreign Affairs said in a statement issued on Thursday morning in Manila that the Philippine government and the Filipino people appreciated the return of the Balangiga bells.

“We are grateful for the efforts of the executive and legislative branches of the United States government, most especially Secretary of Defense James Mattis and US Ambassador to the United Nations Nikki Haley, as well as concerned Filipino and American friends led by Hank Hendrickson, Dennis Wright, Henry Howard, Dan McKinnon and others from the US-Philippines Society who worked together over the years to bring the bells back home,” the statement read.

On Tuesday Malacañang said they are withholding any further comment on the matter until the last bell has been properly delivered to the country.

“In the words of the President himself: “It ain’t here until it’s here,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a statement.

The three Balangiga bells were taken by Americans as their war trophy from the town church of Balangiga, Eastern Samar, after reprisals following the Balangiga Massacre in 1901 during the Philippine-American war.

Prior to the return, two of the bells were at an American Air Force base in Wyoming, and the third in a US base in South Korea.

Ceremony held

A STATEMENT from the US Em-

bassy on Thursday said Mattis announced the return of the bells on Wednesday, US time, during a ceremony at F. E. Warren Air Force Base in Cheyenne, Wyoming.

Philippine Ambassador to Washington Jose Manuel Romualdez attended the ceremony marking the beginning of the process to return all three Balangiga bells to the Balangiga Church in Samar.

“In returning the Bells of Balangiga to our ally and our friend—the Philippines—we pick up our generation’s responsibility to deepen the respect between our peoples,” the embassy quoted Mattis as saying.

“Ambassador [Romualdez], bear these bells home, back to their Catholic Church, confident that America’s ironclad alliance with the Philippines is stronger than ever,” he added.

US Ambassador Sung Kim said, “This is a great day for the US-Philippine relationship as friends, partners and allies.”

“I can think of no clearer affirmation of the United States’s commitment to the Philippines than the return of the Balangiga Bells. To all those who have worked to make this day happen, thank you!” he added.

On August 9 Mattis notified the US Congress that the Department of Defense intended to return the bells to the Philippines.

The decision followed a yearlong consultative process with associated veterans’ organizations and government officials to ensure appropriate steps are taken to preserve the history associated with the bells.

The embassy said that although no date has been set for the bells’ return, the US is committed to returning the bells safely, in the best possible condition and without unnecessary delay.

Bernadette D. Nicolas and Rene Acosta

Senators eye cutting VAT from 12% to 10%

By Butch Fernandez @butchfBM

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EN. Panfilo M. Lacson Sr. confirmed on Thursday an emerging consensus in the Senate to back calls for the reduction of the value-added tax from 12 percent to 10 percent, along with a companion measure rationalizing existing VAT incentives.

“Yes. That is the primary reason why I cast a dissenting vote against TRAIN 1,” Lacson said, referring to the first package of the Tax Reform for Acceleration and Inclusion law, that took effect on January 1, 2018.

Interviewed at a Senate media forum, the senator admitted he initially forged an agreement with the Department of Finance to back the move to trim the list of VAT exemptions following findings of a “research or study done by my staff in close coordination with the DOF.” “We came up with a formula to reduce [VAT] exemptions,” Lacson said, pointing out that “we have the most number of exemptions in the entire Southeast Asia.”

The senator surmised this is the reason there is no upsurge in the VAT collection despite the high rate, even as only a few benefit from the existing arrangement.

“So, I was batting for reduction of exemptions. Pinabawasan ko 143 ng 78, maiwan65at’dilahattatamaandin[Ihad them cut it by 78, from 143 exemptions down to 65—and not everyone will be hit],” Lacson said, adding: “Whenever we pass special laws [there are always] VAT exemptions [that are inserted].”

This, he explained, poses the “biggest challenge” to the Bureau of Internal Revenue: “Pagkolekta kasi ang daming technicalities, dito nandadaya ang taxpayer sa mga input VAT at sa exemptions. Having said that, kung nasunod sana amendments ko, nasuportahan ng aking kasamahan, we could have generated an incremental revenue of P117 billion, much more than ’yung tina-target ng TRAIN-1 kasi target ng TRAIN 1, nasa P80 billion to P82 billion [There are so many technicalities when they collect. Taxpayers can cheat here with the input tax and the exemptions. If they had followed my suggested amendments, we could have generated an incremental revenue of P117 billion, much more than what TRAIN 1 was targeting, at P80 billion to P82 billion].” For instance, Lacson recalled that “on VAT alone, had we reduced the number of lines of exemption from 143, we could have collected P117 billion from the VAT.” He argued, in a mix of English and Filipino, that “even if you discount the increase in excise tax and other features of TRAIN 1, you could still generate what you need from VAT alone,” and added that, therefore, “[it is good to] pursue [it again].”

He expressed hope that this time around, his peers would appreciate his arguments and support him. “Back then [during voting on TRAIN], I had no supporters. There were only seven of us who voted, that’s why we lost].”

At the same time, Lacson conceded that personal interests prevailed during the deliberations on the controversial tax measure. “Kasi ang mga tatamaan dito, power. Alam natin sino involved sa power. Tapos cooperatives, tapos ang economic zones. Ito ang mga industries na tatamaan. Napansin ko nga na may kasamahan kami sa mayorya lalo na, na nagbabaan kasi madaling araw na amendments noon, napansin ko na talagang nagbabaan sila parang to cover each other’s back.

[We know who would have been hit by this reform, power. We know who are the interests involved in power. Then there are the cooperatives, and the eco zones. These are the industries that would be hit. I recall that some of our colleagues in the majority went back down to the session hall—our voting took place at dawn—and they went down to cover each other’s back].”

News BusinessMirror

www.businessmirror.com.ph

DENR: Return of Korean toxic waste may take time

By Jonathan L. Mayuga

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@jonlmayuga

HE Department of Environment and Natural Resources (DENR) is eyeing to take legal action against the “importers” of purportedly recyclable materials, which turned out to be mixed garbage containing hazardous wastes from South Korea.

DENR Undersecretary for Solid Waste Management and Local Government Unit Concerns Benny D. Antiporda said he has ordered an immediate “case buildup” against those behind the importation, even as he vowed to immediately send back the shipment back to its country of origin.

The supposed importer of the hazardous waste, Antiporda revealed, has no permit to import but nevertheless managed to bring in tons of wastes in the guise of bringing in recyclable plastic materials through the country’s port.

“Of course we will file appropriate cases against those involved in the importation, but our immediate concern is to return the shipment back to Korea. If we can do it now, then why wait?” Antiporda said, even as he admitted that it may take time for the “return-to-sender” demand of environmental groups, as well as lawmakers, to happen.

“What we want to ask the importer is what do they plan to do with those hazardous wastes? Do they plan to dump it just anywhere?” he asked.

Antiporda said the case buildup will be made after they identify those behind the company that supposedly

caused the shipment. “We will investigate if there are Koreans involved in this, or if there are Korean principals involved,” Antiporda said.

“For the moment, our utmost concern is the health risks [involved] and the effect to our environment,” Antiporda said, noting that some of the garbage was just lying at a private compound, a waste recycling facility, exposed to the elements.

“We want to avoid leachate, eventually contaminating our environment,” he said.

“This is an abuse of the hospitality of the Filipino people. We welcome them here to do business and, yet, here they are, dumping their toxic wastes in our country. The Philippines is not a garbage dump,” Antiporda, also deputy spokesman of Environment Secretary Roy A. Cimatu, said.

Returning the imported waste to South Korea will compel close coordination by the DENR with concerned government agencies such as the Department of Health, Department of Foreign Affairs, Bureau of Customs and the Government of Korea.

The garbage shipment containing more than 1,000 bales at the Mindanao International Container Terminal in Misamis Oriental province were found to contain hazardous wastes.

More of such similar containers are currently on hold by the BOC, Antiporda said.

Based on the initial investigation by the DENR’s Environmental Management Bureau (EMB), the shipment was for “plastic synthetic flakes.”

However, upon close examination

or waste characterization and analysis, the bales were later found to contain assorted garbage, including toxic materials such as used dextrose tubes, used diapers, batteries, bulbs, and electronic equipment.

Plastic synthetic flakes are recyclable materials which are allowed for importation in the Philippines, Antiporda said.

“My guess is that they plan to segregate the garbage here in the Philippines. Still, it is illegal to import toxic wastes,” he said.

According to Antiporda, the DENR will insist on the Basel Convention of 1989.

More known as the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal, the Basel Convention is an international treaty designed to reduce the movement of hazardous waste between nations, specifically to prevent the transfer of hazardous waste from developed countries to less developed countries.

“Definitely, the importer of the shipment should shoulder the cost of returning them back,” Antiporda said.

He said the EMB is now coordinating with concerned Philippine Ports Authority (PPA) and Bureau of Customs (BOC) officials to identify the buyers and the sellers of the imported toxic wastes.

The shipment was consigned to South Korean company Verde Soko II Industrial Corp., which operates a 4.5-hectare waste recycling facility within the Phividec Industrial Estate in Tagoloan town.

Friday, November 16, 2018 A5

China, Asean affirm 2020 goals: $1-T trade, $150B in investments

By Bernadette D. Nicolas @BNicolasBM

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INGAPORE—Southeast Asian Nations and China vowed to intensify efforts to meet the joint target of $1 trillion in trade volume and $150 billion in investment by 2020 through the deepening of economic linkages and improvement in connectivity, and look forward to yielding more fruitful results in trade and investment by 2030.

This, as the Asean and China issued a road map on Wednesday dubbed as Asean-China Strategic Partnership Vision 2030 in a bid to further strengthen ties with each other.

China is currently Asean’s largest trading partner, third-largest, external source of foreign direct investment and an important source of foreign tourists for the regional bloc.

Countries involved also welcomed continued strong and growing levels of trade, investment and tourism flows.

To boost trade relations, enhance economic growth and provide more jobs for the people, the parties

also reaffirmed their commitment to intensify efforts to finalize the negotiations on the mega freetrade deal Regional Comprehensive Economic Partnership.

The concerned countries also pointed out the need to deepen financial cooperation, including through active involvement of the international financial institutions, such as the Asian Infrastructure Investment Bank, mobilizing private capital and enhancing capacity building to support infrastructure development in the region.

The development of micro, small and medium enterprises was also deemed as important for the Asean and China as they seek to share best practices and experiences and convening capacity-building activities.

In a bid to provide new impetus into the Asean-China cooperation in innovation, both parties also agreed to explore opportunities that will arise from new scientific, digital and technological innovation, as well as address the potential common challenges of these new technologies to further economic growth.

Both Asean member-states and

China also reaffirmed their commitment to encourage airlines to tap their full potential by utilizing the Asean-China Transport Agreement and its Protocols I and II so as to realize stronger regional connectivity and to work toward the ultimate goal of the liberalization of the AseanChina Air Services regime.

They also aim to promote dialogue and exchanges in maritime economic cooperation through relevant platforms on the basis of the principles of inclusiveness, mutual benefit and respect for international law, which may include initiatives such as China’s “Belt and Road” initiative.

On the political and security cooperation, the 10 member-states and the Asian superpower also reaffirmed their commitment to maintain and promote peace, security, stability and safety in the South China Sea, as well as to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea in its entirety, and work toward the early conclusion and adoption of a substantive and effective Code of Conduct in the South China Sea.

A6

Agriculture/Commodities BusinessMirror

Friday, November 16, 2018 • Editor: Jennifer A. Ng

www.businessmirror.com.ph

Bill reconstituting PCA board advances in House

By Jovee Marie N. dela Cruz

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@joveemarie

HE House of Representatives on Wednesday approved on second reading a measure that will further strengthen the Philippine Coconut Authority (PCA) by amending the Revised Coconut Industry Code.

Aambis-OWA Party-list Rep. and Deputy Speaker Sharon Garin, one of the principal authors of House Bill (HB) 8552, said the measure seeks to ensure that the utilization of the coconut-levy funds will be managed efficiently by the PCA.

Garin expressed concern about the challenges faced by the agency in terms of manpower. She is wary about the PCA’s ability to effectively implement the P5-billion annual disbursement from the Coco Levy Trust Fund and the P10-billion allocation for the de-

velopment of the coconut industry from the General Appropriations Act (GAA).

She said there is a need to empower the PCA by vesting it with corporate powers and functions to make it a “profitable, sustainable and development-oriented agency.”

Garin said under the powers and functions of its current charter (Presidential Decree 1468), the PCA reflects the realities of 40 years ago and the agency can only do so much with its meager budget.

Under the bill, the corporate powers and duties of the PCA shall be vested in and exercised by a board of 11 directors, from the previous seven. The secretary of the Department of Agriculture will serve as chairman and the PCA administrator as vice chairman.

Also included as members of the board are the secretaries of the Department of Finance and the Department of Budget and Management, as well as two representatives each from Luzon, the Visayas and Mindanao, and a representative from the coconut farmer and coconut-processing industry.

The bill said representatives from the coconut farmers’ sector shall be Filipino citizens, registered wit the PCA’s coconut farmers registry, have considerable experience and reputable track record in promoting coconut farmers’ interest and welfare, and nominated by coconut farmers’ organizations or cooperatives that are active for the past three years in farmer organization and development or community enterprise development.

They shall be appointed by the President of the Philippines, from a list of four nominees for each

island grouping in accordance with the provisions of GOCC Governance Act of 2011.

The representative from the coconut-processing industry should also be a Filipino citizen, has considerable experience and reputable track record in promoting the coconut-processing industry and nominated by coconut-processing industry associations. Such representative shall be appointed by the President of the Philippines from a list of five nominees.

The measure also said the Governance Commission for GOCC shall coordinate with the PCA in promulgating a nomination and screening process for the PCA administrator and the nominees of representatives of coconut farmers and coconut-processing industry sectors in consultation with their respective organization or associations.

The bill authorizes the PCA

to implement a reorganization for its staff, which shall include a dedicated unit for planning, evaluation of proposals and monitoring of the implementation of the programs and projects under the coconut farmers and industry trust fund within 90 days from effectivity of the proposed act.

The PCA shall submit a boardapproved reoganization plan to the Governance Commission for review and approval.

The House of Representatives on Wednesday also reconsidered the proposed “Act Establishing the Coconut Farmers and Industry Development Trust Fund and Providing for its Management and Utilization,” which had been ratified by both chambers of Congress, to separate provisions reconstituting the PCA. The reconstitution issue of the PCA had been addressed by the approval of HB 8552.

Zero tariff in key markets Male farmworkers get higher pay–PSA report hurting PHL banana exporters

By Cai U. Ordinario

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HE reduction of tariffs in key markets for Philippine bananas, such as South Korea and Japan, may drive local exporters out of business, according to the Pilipino Banana Growers and Exporters Association (PBGEA).

The PBGEA noted that cheap banana imports from Central America have started to eat into the share of Philippine bananas in the Korean market simply because Central American countries were able to secure bilateral agreements on zerotariff treatment for their bananas.

The Central American countries of Costa Rica, El Salvador, Honduras, Nicaragua and Panama will benefit from zero import tariffs on bananas to South Korea by 2021.

Peru is already enjoying zero tariffs on banana exports to South Korea, while Colombia will get the same treatment three years from now.

“Even Vietnam, a fellow Asean economy, will get to sell bananas to South Korea at zero tariffs by 2021,” said Victor S. Mercado of the Marsman Agribusiness Group, the newly elected president of PBGEA, in a statement.

The high import tariff imposed on Philippine bananas is shouldered by the buyer in Korea, so even if the country is geographically nearer, businessmen planning to sell the fruit in the Korean market would prefer to buy from Central America because of the zero tariffs.

According to Mercado, PBGEA

officials, led by Stephen Antig, will hold talks with their business partners in South Korea, where import tariffs for Philippine bananas remain high, to ask them to convince their government to come up with a bilateral agreement with the Philippines to lower the tax from 30 to zero percent.

Antig is set to go to South Korea by end-November and will later proceed to Japan, another major market for the country’s banana sector, to talk with PBGEA’s business counterparts, and possibly Japanese officials, also on the issue of eliminating tariffs for Philippine bananas.

Other PBGEA executives led by Benny Corcolon are also scheduled to go to the Australian capital of Canberra on November 27 to meet with government officials there and raise with them the possibility of allowing Philippine banana exports during the lean months, so as not to compete with Australian banana growers.

“We only want a level playing field in South Korea, Japan and other markets where our bananas are taxed heavily,” Antig said.

“We have long been urging our government officials to be more vigorous in seeking fair treatment for our banana exports. But it seems their efforts are not enough so we are also doing our part by talking to our business counterparts and foreign officials as well, before we lose our share in these markets,” he added.

@cuo_bm

M

ALE farmworkers are better paid than their female counterparts, especially those in Eastern Visayas, according to the latest data from the Philippine Statistics Authority (PSA).

Based on the “Trends in Agricultural Wage Rates” report, male farmworkers in the country receive at least P25 more than female workers. The average male agricultural workers were paid P284.72 per day, while female farmworkers get P255.80 per day.

The lowest daily agricultural wage rates for the males were recorded in Central Visayas at P238.80, while females in Eastern Visayas got the lowest pay at P217.98 per day.

“It’s possible that there really is a gender gap in the sector,” National Statistician Lisa Grace S. Bersales told the BusinessMirror on the sidelines of the PSA’s two-day 1st Data Festival on Thursday.

“Again, we released this to catalyze questions on why this is happening. We would like to solicit comments from data stakeholders regarding the data that we have so that we can improve it,” Bersales added.

Across regions, PSA data showed that the daily nominal wage rate was highest in Calabarzon at P370.14 and lowest in Central Visayas at P236.97.

Data from the PSA indicated

FARMWORKERS carry their produce somewhere in Central Luzon in this 2017 file photo. The Philippine Statistics Authority said on Thursday that male farmworkers in the country are paid more than their female counterparts.

that daily wage rates were highest in Calabarzon for male and female farm workers at P371.72 and P351.07, respectively.

Mimaropa recorded a wide malefemale wage differential at P64.35 per day, with male farmworkers receiving P307.25.

This was followed by Central Luzon and Caraga with P46.41 and P41.82 in wage differences between male and female, respectively. The

least wage gap between male and female farmworkers of P2.54 was recorded in the Autonomous Region in Muslim Mindanao.

Pa lay far m laborers reg istered the highest nominal wage at P303.98 per day, while corn farmworkers received the lowest pay at P246.05 per day.

PSA data showed the daily nominal wage rates of those working in coconut and sugarcane farms were

pegged at P271.72 and P253.69, respectively.

The biggest wage differential of P32.39 per day was noted in palay farms where the salaries of male and female laborers reached P309.83 and P277.44, respectively.

In contrast, the gender wage gap was smallest in corn farms, where male workers were paid P251.21 while female workers received P230.91 per day.

Farm animals may soon get new features through gene editing

O

AKFIELD, New York—Cows that can withstand hotter temperatures. Cows born without pesky horns. Pigs that never reach puberty.

A company wants to alter farm animals by adding and subtracting genetic traits in a lab. It sounds like science fiction, but Recombinetics sees opportunity for its technology in the livestock industry.

But first, it needs to convince regulators that gene-edited animals are no different than conventionally bred ones. To make the technology appealing and to ease any fears that it may be creating Franken-animals, Recombinetics isn’t starting with productivity. Instead, it’s introducing gene-edited traits as a way to ease animal suffering.

“It’s a better story to tell,” said Tammy Lee, CEO of the Saint Paul, Minnesota-based company.

For instance, animal-welfare advocates have long criticized the way farmers use caustic paste or hot irons to dehorn dairy cows so the animals don’t harm each other. Recombinetics snips out the gene for growing horns so the procedure is unnecessary.

Last year a bull gene-edited by Recombinetics to have the dominant

IN this July 11 photo, animal geneticist Alison van Eenennaam of the University of California, Davis, points to a group of dairy calves that won’t have to be dehorned thanks to gene editing. AP PHOTO/HAVEN DALEY

hornless trait sired several offspring.

All were born hornless as expected, and are being raised at the University of California, Davis. Once the female offspring starts lactating, its milk will be tested for any abnormalities.

Another Recombinetics project: castration-free pigs.

When male piglets go through puberty, their meat can take on an unpleasant odor, something known as “boar taint.”

To combat it, farmers castrate pigs, a procedure animal-welfare advocates

say is commonly performed without painkillers. Editing genes so that pigs never go through puberty would make castration unnecessary.

Also in development are dairy cows that could withstand higher temperatures, so the animals don’t suffer in hotter climates.

Recombinetics and others say geneediting techniques do what traditional breeding has always done, except much faster and with the precision of “molecular scissors.” They are waiting for

clarity from government officials, but say meat and milk from gene-edited animals shouldn’t be subject to special regulations.

Most dairy cows in the United States already are bred through artificial insemination from “semen straws,” which are priced for a bull’s pedigree and traits developed through years of traditional breeding. Geneedited traits would just be higherpriced extras, Recombinetics says. For example, the hornless trait could add $3 to $5 to the price of a semen straw that could cost around $15.

Once gene-editing is accepted by the public, farmers will be more interested in traits that step up productivity, Lee predicted. As an example, she cited pigs edited to have bigger litters.

Chickens as big as elephant?

BEFORE food from gene-edited animals can land on dinner tables, however, Recombinetics has to overcome any public unease about the technology.

Beyond worries about “playing God,” it may be an uncomfortable reminder of how modern food production already treats animals, said Paul Thompson, a professor of agriculture at Michigan State University. AP

www.businessmirror.com.ph | Editor: Angel R. Calso

The World BusinessMirror

Friday, November 16, 2018

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China to outline concessions to US ahead of G-20 summit

C

HINESE officials have outlined a series of potential concessions to the Trump administration for the first time since the summer as they continue to try to resolve a trade war, according to three people familiar with the discussions.

The commitments for now fall short of the type of major structural reforms that President Donald J. Trump has been demanding, two of the people said, cautioning that a long road lies ahead in negotiations. One person said that talks between the world’s two largest economies are continuing and constructive.

As a result, one of the people said, it raised doubts over how substantive a deal Trump could make with Chinese counterpart Xi Jinping when the two leaders meet later this month on the sidelines of the Group of 20 (G20) summit in Buenos Aires.

Most of the document appeared to be a rehash of previous changes already made by Beijing, such as raising equity caps on foreign investment in certain industries, according to one person. It did not contain the sort of commitment to change industrial policies, such as Xi’s “Made in China 2025” that Washington has been seeking,

according to one person familiar with the discussions.

Two other people familiar with the talks also said the Chinese offer was a sign of what they characterized as constructive discussions between the two sides ahead of the planned G-20 meeting between the two leaders.

A Treasury Department spokesman didn’t reply to an e-mailed request for comment.

The Chinese Foreign Ministry didn’t immediately respond to a fax seeking comment that was sent before regular working hours on Thursday.

‘At all levels’

TREASURY Secretary Steven Mnuchin and Xi’s main economic emissary, Liu He, spoke last Friday for the first time in months. Since then, lower-level discussions have been held and Larry Kudlow, the head of Trump’s National Economic Council, on Tuesday said the two capitals were in touch “at all levels.”

On the American side, the discussions are currently being led by Mnuchin and the Treasury, which has raised questions among some observers about the process.

Mnuchin is seen as an advocate within the administration of a deal, while others such as Robert Lighthizer, the US trade representative, have been pushing to continue raising pressure on Beijing to try to push for more meaningful reforms.

Mnuchin also was behind a framework deal announced in May that Trump later backed away from amid criticism from Democrats and Republicans in Washington that he was going too easy on China.

“Mnuchin and Kudlow cannot create a trade deal.

They are not capable of it,” said Derek Scissors, a China expert at the conservative American Enterprise Institute, who pointed to the two men’s lack of experience in difficult trade negotiations. “Until I see Lighthizer ordered into the fray, I don’t think there will be a trade deal.”

Scissors, who has previously advised the Trump administration on its China trade stance, said in an interview on Wednesday the most likely outcome of the Trump-Xi meeting at the G-20 was a “cease-fire,” or a deal to avoid any further escalation in tariffs while the two sides hold deeper discussions. Bloomberg News

California fire death toll at 56; 130 missing

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AGALIA, California— As the scope of a deadly Nor t her n C a l i for n i a wildfire set in, the sheriff said more than 450 people had now been assigned to comb through the charred remains in search for more bodies. The blaze has killed at least 56 people and authorities say 130 are unaccounted for.

Many of the missing are elderly and from Magalia, a forested town of about 11,000 to the north of Paradise.

The one major roadway that runs through the mostly residential town is dotted with gas stations, a pizza shop, a hair salon and Chinese restaurant and convenience stores. There is no Main Street or town center. Resident Johnny Pohmagevich says a Rite Aid on the main road is as much of a center as the town has.

“When I say downtown I mean Paradise,” said Pohmagevich, who opted to stay in Magalia even as fire closed in.

Poh m a ge v ic h , a n 18 - y e a r Magalia resident who works at Timber Ridge Real Estate and lives just up the road from many burned homes, said he stayed to protect his employer’s property from looters and to prepare some cabins and mobile homes so business tenants can live if they come back.

“If this town does recover, it’s going to take many, many years,” he said.

A week after the deadly Camp Fire struck, police teams drive around Magalia searching for those still in their homes, checking if they need any food and water.

Crews from Pacific Gas & Electric are also in the area. With the death

FIREFIGHTER Jose Corona sprays water as flames consume from the Camp Fire consume a home in Magalia, California, on Friday. AP/NOAH BERGER

toll at 56, it is the deadliest wildfire in a century . There were also three fatalities from separate blazes in Southern California.

As officials raised the loss of homes to nearly 8,800 on Wednesday, Sheriff Kory Honea said the task of recovering remains had become so vast that his office brought in another 287 searchers Wednesday, including National Guard troops, bringing the total number of searchers to 461 plus 22 cadaver dogs. He said a rapidDNA assessment system was expected to be in place soon to speed up identifications of the dead, though officials have tentatively identified 47 of the 56.

Interior Secretary Ryan Zinke joined California Gov. Jerry Brown on Wednesday on a visit to the nearby leveled town of Paradise, telling reporters it was the worst fire devastation he had ever seen.

“Now is not the time to point

fingers,” Zinke said. “There are lots of reasons these catastrophic fires are happening.” He cited warmer temperatures, dead trees and the poor forest management.

Brown, a frequent critic of President Donald J. Trump’s policies, said he spoke with Trump, who pledged federal assistance.

“This is so devastating that I don’t really have the words to describe it,” Brown said, saying officials would need to learn how to better prevent fires from becoming so deadly .

It will take years to rebuild, if people decide that’s what should be done, said Brock Long, administrator of the Federal Emergency Management Agency.

“The infrastructure is basically a total rebuild at this point,” Long said.

While most of the town of Paradise was wiped out, in Magalia, a sharp dividing line marks those

that survived and those that did not. “Magalia has so many trees. I honestly can’t believe it just didn’t get leveled,” said Sheri Palade, an area real-estate agent.

For some, the areas left untouched offered a ray of hope.

Tom Driver, the office manager and elder at Magalia Community Church, said he had heard the church survived the blaze, though he did not know the status of his own home.

“I’ve been able to account for all of the congregation,” said Driver, who is staying with family in Oakland. “They’re all over the place but they got out in pretty good time.”

Driver said many residents of Magalia work at the university in Chico or out of their homes. When the blaze spread into Paradise, residents there drove down and faced horrendous traffic. Driver said he and some others in Magalia were able to escape north on a winding narrow road that put them ahead of the fire, not behind it.

Kim Bonini heard someone on a bullhorn two blocks over on Thursday urging people to leave.

The power in her home had gone out that morning, leaving her only with her car radio to tell her if she needed to leave.

“My cell didn’t work, my house phone didn’t work, nothing. Nothing except for me crawling into my car,” Bonini said from her daughter’s home in Chico on Wednesday.

“If I wouldn’t have heard them two blocks down I wouldn’t have known I had to evacuate.”

The cause of the fire remained under investigation, but it broke out around the time and place that a utility reported equipment trouble. AP

Fed’s Powell sees potential threats from global slowdown

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A S H I NG T ON — Fe d eral Reserve Chairman Jerome Powell said on Wednesday that the US economy is performing well but he’s eyeing potential risks ahead.

Those include a slowdown in global growth, the fading impact from tax cuts and the cumulative weight of the Fed’s own interestrate hikes.

Speaking to an audience at the Federa l Reser ve Bank of Dallas, Powell said the Fed is managing interest rates in an effort to prolong the current economic recover y.

The increased political attacks on the Fed will not divert the central bank from doing its job, he said. President Donald J. Trump has called the Fed’s rate hikes his “biggest threat.”

The Fed has the tools and the protections it needs to serve the public in a “non-partisan, professional way,” Powell said.

None of Powell ’s comments indicated the central bank would stray from expectations that at its December meeting it will hike rates for a fourth time this year.

The Fed left rates unchanged at its meeting last week.

Powell said the Fed is raising rates slowly in an attempt to avoid the mistake of hiking them either so quickly that it pushes the economy into a recession, or moving too slowly and allowing inflation to get out of control.

This gradual approach has translated into a total of eight quarter-point rate hikes since the Fed began raising rates in late 2015. Those came after seven years in which the Fed kept its key policy

rate unchanged near zero in an effort to lift the country out of the deepest recession since the 1930s.

Those hikes have pushed the Fed’s key policy rate to a range of 2 to 2.25 percent. The Fed has signaled that it expects to raise rates one more time this year and three more times in 2019.

During the recent turbulence in stock markets, Trump grew increasingly pointed in his criticism of the Fed’s moves, saying they risked undoing his efforts to boost the economy with tax cuts and were not needed because inflation remains low.

Powell said political criticism would not affect the Fed’s policies.

“We have an important job that Congress has assigned. We have the tools to do it, and we have the protections to do it,” Powell said.

He also stressed that in his view “our economy is in such a good place right now,” citing low unemployment and strong growth.

Asked what headwinds he saw, Powell said that the current global slowdown is a concern. He also noted expectations that the strong support the US economy has received from the $1.5-trillion tax cut Trump pushed through Congress last December and a big boost in government spending will fade.

That could be happening in the next year or so, he said.

Powell said that the effects of the Fed’s gradual but steady rate hikes could also act to slow growth.

At another point, he was asked about the old Wall Street adage that bull markets don’t die of old age but rather get killed by the Federal Reserve. AP

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Friday, November 16, 2018

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Editor: Angel R. Calso | www.businessmirror.com.ph

Mike Pence says America committed to Indo-Pacific region, not seeking control M

Malaysia steps up bid to abolish capital punishment amid dissent

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INGAPORE—America has a steadfast and enduring commitment to the Indo-Pacific region but wants cooperation, not control, US Vice President Mike Pence said on Thursday in comments to a Southeast Asian summit that carried a veiled swipe at China’s growing influence.

Pence, standing in for President Donald J. Trump at the 10-nation summit of the Association of Southeast Asian Nations in Singapore and another later in the week in Papua New Guinea, told his fellow leaders t hat “empire a nd ag g ression have no place” in the region.

He said US support includes work to counter terrorism and pressure North Korea to give up its nuclear weapons and a commitment “to uphold the freedom of the seas and skies where we stand shoulder to shoulder with you for freedom of navigation, and our determination to ensure that your nations are secure in your sovereign borders on land, at sea, and in the digital world.”

“Like you, we seek an Indo-Pacific in which all nations, large and small, can prosper and thrive—secure in our sovereignty, confident in our values, and growing stronger together,” Pence said.

T he A sea n meet ings foc us on en ha nced t rade a nd sec ur it y in a reg ion of more t ha n 630 m i l l ion people.

While in Singapore, Chinese Premier Li Keqiang has sought to

reassure China’s neighbors over its expanding reach, both economic and military, across the region.

Managing conflict in the South China Sea is a perennial concern.

China is pitted against its smaller neighbors in multiple disputes in the sea over coral reefs and lagoons in waters crucial for global commerce and rich in fish and potential oil and gas reserves.

T he reg ion i s a potent i a l f lashpoint, and a huge concern for the US and other countries that rely on the right of passage for shipping.

Philippine President Rodrigo Duterte, who has sought to ease tensions with China over his country’s claims to disputed waters, said on Thursday that it was crucial that the countries involved finish work on a “Code of Conduct” to help prevent misunderstandings that could lead to conflict.

“China is there. That is the reality,” he told reporters before joining the morning’s meetings. “Strong military activity will prompt a response from China. I do not mind everybody going to war, but except that the Philippines is just beside those islands. If there is shooting

EU and Britain start on campaign to sell Brexit deal

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RUSSELS—The British government and the European Union began the fraught process of selling a Brexit deal that they hope will ensure Britain leaves the bloc next March in as orderly a manner as possible.

On Thursday European Union chief Donald Tusk has called for a summit of leaders to take place on November 25 so they can endorse a draft Brexit deal that has been reached with the British government.

A day after British Prime Minister Theresa May won the backing of her Cabinet over the deal agreed with the EU, she will make a statement to lawmakers about the draft withdrawal agreement that culminated around 20 months of negotiations between the two sides.

Following an early morning meeting, Tusk heaped praise on the EU’s Brexit negotiator, Michel Barnier, who had “achieved the two most important objectives” for the bloc—limiting the damage caused by Britain’s impending departure and maintaining the interests of the other 27 countries that will remain in the EU after Brexit.

“As much as I am sad to see you leave, I will do everything to make this farewell the least painful possible for both for you and for us,” said Tusk, who in his role as European Council President chairs the meetings of leaders. Over the coming weeks, the focus will largely turn to London where May will face

huge difficulties getting the deal through Parliament.

May hailed Wednesday’s Cabinet decision following five hours of discussion as a “decisive step” toward finalizing the exit deal with the EU within days, and that it was “in the national interest.”

However, many members of her Cabinet backed the deal reluctantly, and her Conservative Party, is deeply divided on the deal, which will see Britain stay close to EU rules for years to come. Shailesh Vara resigned on Thursday as a Northern Ireland minister, arguing that the deal “leaves the UK in a halfway house with no time limit on when we will finally be a sovereign nation.”

The opposition parties, notably the Labour Party, are also signaling that they will vote against the deal when it comes before them, most likely in December. That’s important as May’s Conservatives government doesn’t have enough lawmakers on its own to get a majority and relies on the support of the Democratic Unionist Party from Northern Ireland, which has also voiced opposition to the deal.

The deal requires the consent of the European Parliament as well as the British one and on Thursday Barnier was set to travel to Strasbourg, France, to win over legislators there.

The parliament’s chief Brexit official, Guy Verhofstadt, has already welcomed the draft withdrawal agreement late Wednesday. AP

US Vice President Mike Pence (right) meets Myanmar leader Aung San Suu Kyi in Singapore on Wednesday. Pence is in Singapore to attend the 33rd Asean summit. AP/BERNAT ARMANGUE

there my country will be the first to suffer.”

Pence alluded to Chinese concerns that the US is seeking to contain its influence by saying, “Our vision for the Indo-Pacific excludes no nation.”

However, he added, “It only requires that every nation treat their neighbors with respect, they respect the sovereignty of our nations and the international rules of order.”

In contrast with Trump’s preference for bilateral dealings and distrust of international institutions, the meetings in Singapore have championed a commitment to free trade and a multilateral approach to coping with myriad issues, from cybercrime and terrorism to maritime security and e-commerce.

Trump withdrew from a Pacific Rim trade initiative, the Trans-Pacific Partnership, just after taking office last year. That trade pact is due to take effect on December 30.

The US also is not part of another, Southeast Asian centered grouping of 16 countries called the Regional Comprehensive Economic Partnership, which does include China, India, Australia and most other Asian economies.

On Wednesday the leaders pushed back a final agreement on that 16-nation free trade deal until 2019. If realized, that arrangement will create the world’s biggest trading bloc with 40 percent of world trade and 30 percent of global economic activity.

The trade talks followed scores of bilateral meetings among the leaders and talks on other is-

sues such as regional security, how to keep peace in the South China Sea and the crisis over hundreds of thousands of ethnic Rohingya Muslims who have fled to Bangladesh to escape violence in Myanmar.

The Asean members are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Its annual summit includes meetings with various other nations and a slew of bilateral meetings among the leaders.

While the Singapore meetings were typically focused on cooperation and goodwill, concerns over Myanmar’s treatment of its ethnic Rohingya Muslims flared with unusually sharp comments to the country’s leader, Nobel Peace Prize laureate Aung San Suu Kyi. AP

Bangladesh plans to move forward with Rohingya Muslim repatriation

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OX ’ S B A Z A R , B a n g l a desh—Bangladesh authorities said the repatriation of Rohingya Muslims who fled army-led violence in Myanmar will begin as scheduled on Thursday if people are willing to go, despite calls from United Nations officials and human-rights groups to hold off.

Refugee commissioner Abul K a l a m t o l d T h e A s s o c i at e d Press that he and other officials would go to Unchiprang, one of the sprawling refugee camps near the city of Cox’s Bazar, to urge some of the more than 700,000 Rohingya who f led to Bangladesh last year to go back to Myanmar voluntarily.

Kalam declined to say what Bangladesh authorities would do if refugees refused to go, but according to a UN-brokered deal with Bangladesh and Myanmar, the Rohingya cannot be forced to repatriate.

“If they agree, we will take them to the transit camp and give them three days’ worth of food before handing over to Myanmar authorities,” he said.

The huge exodus of Rohingya began last August, after Myanmar security forces launched a brutal crackdown following attacks by an insurgent group on guard posts.

The scale, organization and ferocity of the operation led to accusations from the international community, including the UN, of ethnic cleansing and genocide.

Most people in Buddhist-majority Myanmar do not accept that the Rohingya Muslims are a native ethnic group, viewing

ROHINGYA refugees Sitara Begum with her son Mohammed Abbas, who are in the list for repatriation, wait in their shelter at Jamtoli refugee camp, near Cox’s Bazar, Bangladesh, on Thursday. Bangladesh authorities said on Thursday that repatriation to Myanmar of some of the more than 700,000 Rohingya Muslims who fled army-led violence will begin as scheduled if people are willing to go, despite calls from United Nations officials and human-rights groups for the refugees’ safety in their homeland to be verified first. AP/DAR YASIN

them as “Bengalis” who entered illegally from Bangladesh, even though generations of Rohingya have lived in Myanmar. Nearly all have been denied citizenship since 1982, as well as access to education and hospitals.

Despite assu ra nces f rom Myanmar, human-rights activists said on Thursday the conditions are not yet safe for Rohingya refugees to go back.

“Nothing the Myanmar government has said or done suggests that the Rohingya will be safe upon return,” Human Rights Watch refugee rights director Bill Frelick said in a statement.

The group said 150 people from 30 families had already been taken to a transit camp in preparation for their return.

Bangladesh authorities have said they’ve worked with the UN’s refugee agency to compile lists of people willing to return to Myanmar.

At the Jamtoli refugee camp, 25-year-old Setara said she and

her two children, ages 4 and 7, were on a repatriation list, but her parents were not. She said she had never asked to return to Myanmar, and that she had sent her children to a school run by aid workers on Thursday morning as usual.

“They killed my husband; now I live here with my parents,” said Setara, who only gave one name.

“I don’t want to go back.”

She said other ref ugee families liv ing at t he Jamtoli camp whose names have appeared on t he Bangladesh gover nment ’s repatr iat ion l ist had f led to ot her camps, hoping to d isap pear amid t he crowded lanes of ref ugees, a id workers and Bangladeshi sold iers.

Negotiations for repatriation have been going on for months, but plans last January to begin sending refugees back to Myanmar’s Rakhine State were called off amid concerns among aid workers and Rohingya that their return would be met with violence. AP

ALAYSIA is taking the next step in abolishing the death penalty, with the cabinet issuing a memorandum to all ministries to gain feedback on the move even as it faced opposition among some lawmakers.

The decision to remove capital punishment in all 32 of Malaysia’s laws was made at a cabinet meeting on October 10, Liew Vui Keong, a minister in the prime minister’s department, told parliament on Tuesday. A study commissioned by the government found the death sentence to be an ineffective deterrent, and raised the issue of wrongful convictions and human rights.

Public outrage over a death penalty handed to a 29-year-old man convicted of possessing, processing and distributing medicinal cannabis oil promoted a national debate on capital punishment. Prime Minister Mahathir Mohamad, 93, has said the verdict and relevant law should be reviewed in the country, where Muslims make up more than half of the population. The cabinet has since reached a consensus that capital punishment should not be applied in the case.

Still, the death of an 11-monthold girl from sexual abuse last week has prompted some members of the ruling party to call for the decision to be revisited. The suspect was tested positive for methamphetamine, which spurred Deputy Prime Minister Wan Azizah to tell reporters on Tuesday that the government needs to study the root cause of drug-related crimes before deciding to end capital punishment, the Star reported.

Ramkarpal Singh, a lawmaker from the ruling coalition, said the death penalty should be retained in “exceptional cases, especially gruesome murders” in light of the baby’s death.

Liew told parliament that the decision to abolish the death penalty was made for all offenses, including for those convicted of murder. “So far, the memorandum from the cabinet is still being circulated to the ministries to take into account the views of the public and those on the ground,” he said.

The government is looking to replace the punishment with 30 years imprisonment. Bloomberg News

Over dinner, New Zealand PM presses Pence on free trade

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EW Zealand Prime Minister Jacinda Ardern, who sat next to US Vice President Mike Pence at a gala dinner in Singapore last night, said she used the opportunity to push the case for free trade.

“I use every opportunity I can to promote the benefits,” Ardern said in an interview with Bloomberg Television in Singapore on Thursday, where she is attending summits hosted by the Association of Southeast Asian Nations. “For us, maintaining that rules-based order is incredibly important.”

New Zealand is a member of the revamped Pacific trade pact that President Donald J. Trump pulled the US out of, and one of 16 nations negotiating the Chinabacked Regional Comprehensive Economic Partnership. Those multilateral agreements are designed to reduce tariffs even as the US and China engage in an escalating trade war, which Ardern said was hurting business confidence in her country and raising concerns about global growth.

“We see no benefit from tit-for-tat trade wars,” she said, adding that it was important to make the case for free trade amid a push-back “in some corners of the world” from people who weren’t seeing the benefits of globalization.

“We’re trying to rebuild that mandate through a trade-for-all agenda,” Ardern said. “How do we ensure that more and more people benefit from trade?”

Bloomberg News

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Cebu Pacific’s Clark-Davao flights bridge gap between north, south

By Ashley Manabat

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Correspondent

AVAO CITY—The distance between north and south has been bridged anew: It is now just a 90-minute flight, via Cebu Pacific’s Clark-Davao-Clark flights.

On Friday Cebu Pacific launched its Clark-Davao-Clark maiden flights from the Diosdado Macapagal International Airport (DMIA) in Clark, Pampanga, to the Francisco Bangoy International Airport here and vice versa.

The largest city in the Philippines in terms of land area at 2,443.61 square kilometers, this highly urbanized city in Mindanao is not only home to President Duterte but also to the country’s pride and symbol, the great Philippine Eagle.

Pampanga Provincial Board Member Rosve Henson extended his congratulations on behalf of Gov. Lilia G. Pineda during a simple ceremony at the DMIA domestic terminal prior to the maiden flight.

With the launching of the Clark-DavaoClark flights, Cebu Pacific has reiterated its commitment to help the economic development of Clark and boost tourism.

Flight 5J 985 departs from the DMIA in Clark to Davao daily at 1:45 p.m., with scheduled arrival at the Francisco Bangoy International Airport here at 3:40 p.m.

The return flight, 5J 986, departs from this highly urbanized city at 4:10 p.m., with an estimated time of arrival at the DMIA at 6:05 p.m.

It was observed that contrary to the harsh description of martial law in Mindanao, this city presents a totally different outlook with nary a hint of the alleged strict and unforgiving atmosphere.

Park Inn by Radisson Davao offers one of the best locations in the city, being only 15 minutes away from the airport and right across SM City Lanang Premiere Mall with an air bridge connecting the hotel to the mall.

Emelyn M. Rosales, general manager of Park Inn by Radisson Davao, said the hotel has 165 Standard Rooms, 33 Superior Rooms and six Junior Suites enhanced by it has vibrant décor, complimentary inroom high-speed Internet and good food.

She added that they maintain the signature “Feel Good” service concept, which aims to exceed expectations.

Park Inn by Radisson Davao offers great food like the homegrown Davao kinilaw crostini, Davao cheese platter, pomelo and fern salad, chicken durian curry, tuna belly, mangosteen and durian cheesecakes, as well as fresh, juicy and sweet fruits that are locally sourced.

Meanwhile, Katherine D. Anuta, tourism operations officer II of the Department of Tourism Region 9, said the new route will “definitely increase the number of tourists going to Davao.” She said the DOT is promoting agritourism and ecotourism in the region, to take advantage of the area’s natural biodiversity and booming agricultural commerce.

Anuta said Davao Cit y alone draws 1.5 million tourists

NEA orders Davao electric cooperative to stop bill collection

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HE National Electrification Administration (NEA) has ordered the Davao del Norte Electric Cooperative (Daneco)-Cooperative Development Authority (CDA) to cease from collecting bill payments.

NEA said it issued a cease-and-desist order against the Daneco group associated with the CDA and implemented this last November 9, pursuant to pertinent provisions of Republic Act 10531, otherwise known as the National Electrification Administration Reform Act of 2013.

NEA Administrator Edgardo Masongsong directed the Daneco-CDA to refrain from “further performing any and all acts of management and/or control of the electric cooperative or any portion of its franchise area.”

Customers of Daneco were told to pay their electricity bills only to Daneco-NEA, the court-recognized management backed by the state-run agency.

Masongsong said the two groups operating in Compostela Valley and Davao del Norte have been causing confusion among the member-consumer-owners because both DanecoNEA and Daneco-CDA are collecting bill payments.

Masongsong said Daneco-NEA settles its obligations with power suppliers and other government agencies. He said Daneco’s accounts receivables ballooned to P2.5 billion. Its collection efficiency also dropped to 60 percent and its system loss rose to 19.53 percent.

“This situation had adversely affected the financial viability of Daneco Inc. as evidenced by the July 2018 Mont hly Statistica l Financial Report, which showed an ag g regate amount of P2.283 billion as indebtedness to the power suppliers,” t he o rd e r re ad . Lenie

Lectura

per year, while records show Davao Oriental attracts 700,000 visitors annually.

Described as a real Pacific destination, Davao Oriental offers the best beaches in the Pacific shore.

Davao Oriental is also the home of Mount Hamiguitan, the first World Heritage site in Mindanao, which lies at the boundaries of San Isidro, Governor Generoso and Mati City, the capital of Davao Oriental.

Mount Hamiguitan was declared a Unesco World Heritage site for its “outstanding universal value” where centuries-old bonsai trees or Pygmy forests can also be found. It rises to 5,345 feet above sea level.

On the other hand, Mati City offers diverse tourism activities including the ultra light adventure, courtesy of the Mindanao Saga Flying Club, as well as pristine beaches like the Dahican Beach, an ideal place for skim boarding.

In the heart of Mati City is the Subangan Davao Oriental Provincial Museum, where the giant skeleton of a sperm whale, named Davor for Davao Oriental, is placed as its centerpiece.

Davao Oriental is also where the sun rises four minutes earlier than the rest of the Philippines at Pusan Point in Caraga town, the south easternmost part of the Philippine archipelago, thus earning the moniker—Sunshine Capital of the Philippines.

The DMIA in Clark has served as the hub for North and Central Luzon of Cebu Pacific for the past 10 years. It has emerged as one of Asia’s fastest-growing airports, with passenger volume expected to breach 2 million in 2018.

Cebu Pacific also mounts direct flights from Clark to Cebu, Singapore, Macau and Hong Kong; and has resumed direct flights to Caticlan (Boracay).

Editor: Dennis D. Estopace • Friday, November 16, 2018

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A10 Friday, November 16, 2018 • Editor: Angel R. Calso

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editorial

The return of the bells

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N both ancient Greece and Rome, military victories were memorialized by display of captured weapons and flags from the defeated foe. But it worked both ways. A Roman standard bearing the Aquila, or eagle used as the symbol of the Roman legion was prized war booty.

The practice of a conquering army returning home with war booty from cultural objects to civilian slaves has been a part of human warfare from earliest times. During a Congressional debate in 1831 a New York senator, William L. Marcy, used the phrase “to the victor belong the spoils.” However, this was in regard to the benefits of winning an election. As then-United States President Barack Obama said simply to Congressional leaders questioning his policies, “I won.”

In June 2012—approximately two years after his inauguration— President Benigno S. Aquino III was welcomed by then-US President Obama to the White House. President Duterte has never made an official visit to the United States. Teodoro L. Locsin Jr.—then Philippine Ambassador to the United Nations—reported a conversation that he had with his American counterpart Nikki Haley. “Nikki Haley asked me last year: Why is your President still not coming to the US? I said: He never will until the Bells of Balangiga are returned.”

The Balangiga Bells are three church bells taken by the US Army from the town church of Balangiga, Eastern Samar, as war trophies in 1901 during the Philippine-American war.

About 48 members of the US 9th Infantry were killed by the townspeople allegedly assisted by guerrillas (or freedom fighters depending on who is telling the story) in the town of Balangiga on September 28 of that year.

Gen. Jacob H. Smith ordered that Samar be turned into a “howling wilderness” and that any Filipino male above 10 years of age be shot.

In response, the US troops set the town on fire and killed Filipinos 10 years old and above. The attack left more than 2,500 Filipinos dead.

From the burned-out Catholic Church, the Americans looted three bells which they took back to the US as war booty. General Smith was subsequently court-martialed, not for his war crimes but for “conduct to the prejudice of good order and military discipline.” The Balangiga Bells have remained under control of the US military until now.

Last year Duterte requested—as his predecessors have—that Washington turn over the bells: “Those bells are reminders of the gallantry and heroism of our forebears who resisted the American colonizers and sacrificed their lives in the process.”

But not all Americans are happy with that decision. For some, the Bells are a memorial to American war dead during the “Philippine Insurrection”. A faint inscription visible on the back of two of the Bells, reads: ”Used By Philippinos [sic] To Sound Signal For Massacre Of Company “C” Ninth Infantry At Balangiga P.I. 28th September 1901.”

For Filipinos, the bells are a reminder of the sacrifices made by fellow Filipinos to gain independence from a colonial power that imposed its rule through the force of arms.

US Defense Secretary James Mattis called the decision to repatriate them an important gesture of friendship between the two countries.

“History reminds us that all wars end. In returning the Bells of Balangiga to our ally and our friend, the Philippines, we pick up our generation’s responsibility to deepen the respect between our peoples.”

Returning the bells is a symbolic gesture. However, this gesture is necessary as it offers some closure to a terrible time and terrible actions.

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S recently as May of this year, the Civil Service Commission reiterated its warning that “no officer or employee in the civil service, as well as any member of the military, shall engage, directly or indirectly, in any electioneering or partisan political activity, except to vote.” At the time, the CSC chairman emphasized that “civil servants are mandated by law to uphold political neutrality in the conduct of their duties even more during election season.”

In this connection, the CSC has defined the term “partisan political activities” to refer to acts designed to promote the election or defeat of a particular candidate or candidates to a public office. These activities include: Forming organizations, associations, clubs, committees, or other groups of persons for the purpose of soliciting votes and/or undertaking any campaign for or against a candidate; Holding political caucuses, conferences, meetings, rallies, parades or other similar assemblies, for the

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I

N 2011, Dr. Parag Khanna, a senior research fellow at the New America Foundation, wrote, “the 21st century will not be dominated by America or China, Brazil or India, but by the ‘City’.”

Also a fellow at the Lee Kuan Yew School of Public Policy, Khanna believes it’s the city—not the state—that will become “the nexus of economic and political power” in the world.

This echoes what journalist and urban activist Jane Jacobs wrote almost three decades before. In her Cities and the Wealth of Nations (1985), Jacobs outlined how “import-substitution” in cities and towns—or the process through which a certain locality gains the ability to create products and services that it previously imported—is in fact at the root of all economic expansion. In short, cities (municipalities, villages or other subnational divisions) are the true engines of national prosperity.

Hence, if we seek to propel the nation forward, our local governments—provinces, cities, municipalities and barangays—must be empowered to take charge of their future and have real autonomy to pursue prosperity for their people.

In other words, they must be recognized as the country’s true economic workhorses, and supported accordingly. No less than my late father, Senate President Edgardo J. Angara once said: “The road to national development starts at the people’s doorstep.”

That is, of course, why a Local Government Code or LGC (RA 7160), mandating the decentralization and devolution of powers and responsibilities from national authorities to local government units (LGUs), was enacted in 1991.

True, the path to achieving true LGU autonomy since the LGC’s passage nearly three decades ago has had its share of challenges. Some continue to decry that local autonomy is all but an illusion, and that more should

Interestingly, the CSC has carved out something of an exception when it comes to social media. According to a joint circular issued by the CSC and the Comelec just before the 2016 national and local elections, “socialmedia functions such as ‘liking,’ ‘commenting,’ ‘sharing,’ reposting, or following a candidate’s or party’s account,” would generally not be considered electioneering or partisan political activity. political committee or directorate.

Or an officer of any political club or other similar political organizations; Receiving any contributions for political purposes, either directly or indirectly; and Becoming publicly identified with the success or failure of any candidate/s or party/ies.

In addition to these acts, the CSC also identified the following as being strictly prohibited: Wearing of t-shirts, pins, caps, or any other similar election paraphernalia bearing the names of candidates and/or political parties; Being a watcher for a political party or candidate during the election; Consistent presence in political rallies, caucuses of, and continuous

be done to let LGUs have a decisive say in their destinies.

But while the Senate Committee on Local Government, which I chair, is currently working on several measures and reforms to make local autonomy “real” throughout the country, that does not mean there haven’t been any noteworthy successes in local governance.

In fact, recently, the Department of the Interior and Local Government (DILG) awarded some 263 LGUs—17 provinces, 39 cities and 207 municipalities—with the Seal of Good Local Governance (SGLG).

An LGU earns the SGLG only if it passes all the requirements of the DILG and meets the high standards provided under seven “governance areas”: financial administration; disaster preparedness; social protection; peace and order; businessfriendliness and competitiveness; environmental management; and tourism, culture and the arts.

If an LGU makes the cut for an SGLG, it is entitled to a cash grant— worth P3 million for each municipality, P5 million for each city and P7 million for each province—for a local project it chooses to undertake.

This year’s awardees are particularly noteworthy, since the DILG imposed stricter, more comprehensive criteria than in previous awards.

Meanwhile, last month, the National ICT Confederation of the Phil-

companionship with certain political candidates and/or political party, making one closely identified with such candidates or party; Giving, soliciting, or receiving financial or monetary contributions, supplies, equipment, and materials for the benefit of a candidate and/or political party; and Utilizing government resources such as personnel, including job order or contract of service hirees, time and properties for political purposes.

Those found guilty of any of these acts will be dealt the penalty of one month and a day to six months’ suspension, for the first offense; and dismissal from the service for the second offense according to the 2017 Rules on Administrative Cases in the Civil Service or 2017 RACCS (CSC Resolution 1701077 dated July 3, 2017).

Interestingly, the CSC has carved out something of an exception when it comes to social media. According to a joint circular issued by the CSC and the Comelec just before the 2016 national and local elections, “socialmedia functions such as ‘liking,’ ‘commenting,’ ‘sharing,’ reposting, or following a candidate’s or party’s account,” would generally not be considered electioneering or partisan political activity.

ippines (NICP) and the Department of Information and Communications Technology (DICT) recognized 17 “digital cities” across the Philippines for their success in implementing different e-government projects or initiatives that utilize ICT for delivering better public services.

Clearly, cities around the country are already leveraging the power of ICT connectivity for good ends. In the 2018 Tholons Services Globalization Index even, six of our cities were included in the top 100 “Super Cities of the World” for outsourcing.

These were: Metro Manila at No. 2 (from No. 4 last year); Cebu City at No. 11 (from No. 12); Davao City at No. 75 (from No. 85); Bacolod City at No. 89 (from No. 97); the City of Sta. Rosa, Laguna, at No. 87 (from No. 100); and Iloilo at No. 92 (but wasn’t part of the list last year).

Many LGUs are already taking charge and rolling out truly noteworthy initiatives. It is only right that some of them have been recognized for the success in local governance they’ve achieved. Shining a light on them allows others to follow and one day become true engines of national prosperity.

Sen. Sonny M. Angara was elected in 2013, and is now the chairman of the Senate Committees on Local Government, and Ways and Means.

E-mail: sensonnyangara@yahoo.com|Facebook, Twitter & Instagram: @sonnyangara.

Opinion BusinessMirror

www.businessmirror.com.ph

Friday, November 16, 2018 A11

Filing of case against The Lady First Davidson Bangayan alias David Tan long overdue Tito Genova Valiente ANNOTATIONS

Dr. Jesus Lim Arranza Continued from A1

T

HUS, for clarity, allow me to share the reasons I am really glad about the recent DOJ findings.

Five years ago, during the height of a Senate investigation about the rampant rice smuggling in the country, a certain David Tan was among those being suspected to be the leader of a big-time rice smuggling syndcate. However, the investigation was stalled when investigators could not pinpoint the real identity of David Tan. It was at this point that during a media forum at the Bureau of Customs, I presented a document that linked David Tan and Davidson Bangayan, a scrap metal dealer, to be one and the same person. The document was issued by a Singaporean company who sought my help after encountering some problems with Bangayan’s company in the Philippines in one of its transactions.

The story was picked up by a major newspaper.

And for that, I was charged with libel. The first libel case filed against me by Bangayan said in his complaint affidavit: “I am sure Mr. Arranza is referring to me in the newspaper because I am the only person by the name of Davidson Bangayan a.k.a.

David Tan.” Bangayan’s statement, according to some legal minds, was a virtual admission that David Tan and Davidson Bangayan are one and the same person.

In fact, in one of the Senate hearings on rice smuggling where I was one of the invited resource persons, no less than then-Davao City mayor and now Philippine President Rodrigo Roa Duterte who was also attending the Senate hearing, corroborated my earlier statements when he said Davidson Bangayan is the same person as David Tan. The five-year wait was, indeed,

The first libel case filed against me by Bangayan said in his complaint affidavit: “I am sure Mr. Arranza is referring to me in the newspaper because I am the only person by the name of Davidson Bangayan a.k.a.

David Tan.” long. But I never lost hope. I still believe in the Philippine justice system, and that Bangayan’s day of reckoning with the law will come.

And the recent DOJ findings only prove that no matter how long it takes, the long arm of the law will eventually catch up with those legally answerable for their misdeeds, malfeasance and and illegal activities.

Let me, therefore, express my deep appreciation and thanks to the Duterte administration, especially Department of Justice Secretary Menardo I. Guevarra, for giving us the confidence that justice prevails in the country.

Kudos to the President and the justice secretary. As law and order advocates, we are inspired to get even more involved in the campaign against all forms of criminality, if only to help the government uphold the rule of law.

Share our Christmas Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

A

S the season of Christmas is approaching, we should now prepare for the coming of our Lord Jesus Christ. During this season, we are called to fulfill our mission as children of God—to help our brothers and sisters in need through love and charity.

Recognizing the value of love and charity, we in Caritas Manila extended our effort to provide assistance and give joy to our less-fortunate brothers and sisters through our #ShareYourChristmas online campaign.

This online campaign reminds us about the rea l essence of Christmas.

As we approach what seems to be a tough Christmas season due to the rising inflation rates, worse self-rated poverty statistics and an increase in the number of Filipinos experiencing involuntary hunger, we are calling all the faithful to remember our brothers and sisters in need.

Aside from spending out the extras we have, we can shift our priority to help the poor during the Christmas season.

We are also reminding all Catholics that material want is not what we should prioritize during this season, but the coming of our Lord Jesus Christ. And helping out our brothers and sisters who are suffering is

a good way of preparing ourselves for our Savior. #ShareYourChristmas is an online campaign platform of Caritas Manila that aims to bring the joy and spirit of Christmas to the less fortunate by providing assistance to them through donations in-cash.

For inquiries, interested donors may visit Caritas Manila #ShareYourChristmas web site at http://shareyourchristmas.caritasmanila.org.ph.

Donors can also call Caritas Manila landline 563-9311, 562-0020 up to 25 or visit Caritas Manila head office at 2002 Jesus Street, Pandacan, Manila.

To know more about Caritas Manila, visit or follow us on Facebook: CaritasManilaInc. For your donations, please call our DonorCare lines 563-9311, 564-0205, 0999-7943455, 09054285001 and 09298343857. Make it a habit to listen to Radio Veritas 946 in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. for your comments, e-mail veritas846pr@gmail.com.

T

HERE was a young girl who grew up in a poor household.

She knew she was beautiful but as she was poor, no one looked at her. Then one day, she realized there were many other beautiful girls out there but there were very few who, at a very young age, acted like a lady. She thought of this for a long time. One day, under the tall bamboo tree near her poor house, she came up with a prayer. It began with the line “Be the lady first/ Pray for us. She repeated the line over and over until all the other words disappeared and what remained were these three magic words: The Lady First.

It was this trait of being a Lady that separated her from the allure of other young girls. One day, she left her small town and went to the big city. There, with the wealthier relatives, she became even more ladylike.

In the big city, with no one knowing what she was really like back in her small village, the young lady started to learn how to sing. She was not a good singer but as she was lovely and ladylike, and people were seduced to forget her flaws.

One day, the young lady met a young man from the North. Brownskinned and intelligent, the man was what the young lady often saw in her dreams. There was something in the man that the young lady was missing in her. What it was, she could not say.

The man pampered the young lady so much that each day, the young lady kept thinking about her prayer, “First the lady/Pray for us.”

One night, when the moon was pale for all its lies to lovers, the man confessed to the lady his dream, his ambition: I want to rule this earth.

The lady listened. She was waiting for more words from her man. The man, however, was quiet. The lady looked intently at the man, her eyes seemed to be asking for answers when, in fact, there were no questions. The man then said, as if continuing a line that was inadvertently cut: When that day comes, I want you to be the first person beside me.

The lady looked at the moon.

The moon, the lady would tell her friends years later, glared at her as if the moon read in her face. The lady’s

face was indeed saying something.

She knew what words they were she kept dreaming about. The lady first was the First Lady. She would be the First Lady of the Land.

Years and years after that moonlit night, the man became the King of the Land. The lady, as a matter of course, became the Queen, or some kind of Queen. But the man reminded her about the story of the land. We have no queens, my dear, but I will make you the First Woman, the First Lady of the land.

They ruled the land for so many years. As if ominous, that moonlit night, with the lies above, would soon be the life of the King and his Lady, a night and day of lies. They thrived on lies. For the lies kept the people happy. The more lies the couple told the people, the happier the people became.

The Lady, being First now, had many plans and dreams. She dreamt of building homes for the Spirit of the people. The people used to her lies were so happy with this plan. Little did they know that the temple that would house the Spirit of the people would incarcerate them for years.

But the Lady was astute. She was not that intelligent but she was cunning, dreaming every day of things that would keep her people happy.

She came up with a huge plan. She would reward all artists—writers, dancers, painters, pottery-makers, dreammakers, shoemakers, carpenters, meteorologists who could predict lightning and thunderstorms, and poets who manufacture pretty

lies in rhythm and blues. Then she started building more shrines and temples to arts.

But each day she was becoming unhappier. She bought arts—paid dancers and singers, acquired paintings and pots—and still she was getting more depressed.

One night, she asked her husband: Why don’t you declare the death of freedom. Maybe, if our people were not allowed to move anymore, maybe they would invent new movements.

Maybe, if we did not allow our singers to sing, maybe they would find more good songs to sing. Maybe, if we stopped people from dreaming, they would manufacture all kinds of dreams.

Indeed, one morning, the people woke up to the news that freedom had died. The people used to lies did not understand the news. What to do?

Do we bury freedom? If we don’t bury freedom, will not the world stink?

Indeed, these thoughts went on and on. The people just went on thinking for 10, for 20 years. They went on thinking even as their neighbors were being whisked off to caves and cemeteries. They went on thinking even as hunger

spread throughout the land. The lady had a cure for these maladies.

She would tell the people to look at her, for she was beauty and good and true.

Today, those people are still thinking. The Lady is still a Lady but she is already old. She does not know what to do with herself. She wants to kill herself but the people would not allow that. They believe that if the Lady dies, the world will also die.

This is one of the famous lies of the lady. The Lady even offered to live in a secluded place like a prison but the people just love her to allow her to be isolated.

Today, the Lady does not know how to tell the people that they have been living in lies. She does not know anything. She stares out into the horizon, her face as round as the moon, her neck not as graceful anymore as that of the swan, her soul condemned to live in lie and sadness forever.

The Lady is imprisoned in her own evil and the only way to goodness is to think freely. The problem is she killed freedom many years ago, one crazy, silly moonlit night.

E-mail: titovaliente@yahoo.com

Saudi rulers rally support on home front as US pressure mounts

I

By Vivian Nereim | Bloomberg

T’S been more than a decade since any Saudi monarch went to Ha’il, once an outpost on the old pilgrimage trail to Mecca.

King Salman’s arrival last week in the northern province his father conquered a century ago showed the importance of rallying the home front as international support for Saudi Arabia falters.

As a global outcry over the killing of a government critic morphs into a US demand for Saudi Arabia to end its war in Yemen, King Salman has turned to traditional means of building domestic loyalty. Greeted by throngs of well-wishers, the 82-year-old monarch embarked on his first tour of the country since assuming the throne in 2015. He ordered the release of indebted prisoners and unveiled billions of dollars worth of projects in far-flung areas that have sometimes felt forgotten by Riyadh.

While not unusual for the Saudi monarchy, the largess represents a return to older ways just as Crown Prince Mohammed bin Salman has staked his reputation on overhauling the oil-dependent economy and easing social restrictions. Architect of its costly Yemen intervention and boycott of Qatar, the prince’s role in the day-to-day running of the kingdom has placed him at the center of the political maelstrom over Jamal Khashoggi’s murder.

King Salman is “deploying traditional forms of legitimacy, royal patronage and prestige to shore up support for his son,” said Kristin Diwan, a senior resident scholar at the Arab Gulf States Institute in Washington. “At the same time, if a threat to his leadership within the family were imminent, he wouldn’t be touring the provinces.”

Symbolic occasion

ON the Islamic calendar, the visit to Ha’il was 100 years to the day since

the founder of modern Saudi Arabia, King Abdulaziz, conquered the area.

Today, as Prince Mohammed reshapes the kingdom his grandfather built, he is facing different challenges. Turkey has insinuated that Prince Mohammed was behind the killing of Washington Post columnist Khashoggi at the Saudi consulate in Istanbul, a charge authorities have vehemently denied.

Key alliances are being tested. Days before the tour, President Donald J. Trump, initially reluctant to pressure his ally over Khashoggi, said Saudi Arabia had misused US-supplied weapons in the Saudi-led coalition’s bombing campaign in Yemen. With Democrats winning control of the US House of Representatives last week, pressure is only likely to increase.

But in the kingdom’s rural regions, where unemployment is high and opportunities limited, it’s the economic and social changes unleashed by the prince that matter most.

“We are hoping that King Salman will speed up the development plans for projects that are profitable and suitable for Ha’il region,” said Eid Al Shammari, 68, a retired educator and former member of the consultative Shura Council.

Front and center

OVER the past few years, King Salman has often faded into the background as his son took the lead. It’s Prince

Mohammed who’s courted foreign investors, loosened social restrictions in the conservative Islamic society and cracked down politically—marginalizing powerful royal relatives and imprisoning critics.

Though his rapid consolidation of power has made that position secure, on the tour, the king was front and center, with Prince Mohammed by his side. Some Saudis read that as a message that King Salman remains firmly in charge.

First the royal delegation headed to Qassim, Saudi Arabia’s conservative heartland, presiding over the launch and opening of hundreds of projects worth more than 16 billion riyals ($4.3 billion).

Then it was Ha’il, a region of about 700,000 people a six-hour drive from the capital, where farmers grow date palms, oranges, olive trees and potatoes in the relatively cooler climate.

As the king arrived, buildings were lit up in the colors of the Saudi flag, billboards declared him heartbeat of the nation and hundreds of citizens had gathered for his welcoming ceremony. Lining up to pass through a metal detector, Mohammed Al Rashidi was on the verge of tears. “I want to shake hands with King Salman and kiss his forehead,” said Al Rashidi, a 29-yearold unemployed man who came from 200 kilometers away.

Waiting for change

FOR decades, Saudi monarchs have built political loyalty with economic support.

In 2006, after officially assuming the throne, the late King Abdullah toured the country, unveiling major projects. In Ha’il, which like many Saudi regions has suffered from

uneven development, he launched a grand “economic city” development that aimed to turn the area into an industrial hub. It later faltered and was downsized.

As revolts spread through the Middle East in 2011, the Saudi monarchy injected tens of billions of dollars into the social benefits and housing.

Unemployment remains a pressing issue, however, as universities churn out graduates who don’t find enough jobs waiting for them. “In Riyadh, maybe they cannot feel the problems of Ha’il or the potential of Ha’il,” Al Shammari said.

Enjoying a picnic with her family in a local park, 20-year-old Hajer Al Otaibi said she was also eager for Prince Mohammed’s planned social changes, like entertainment, gender mixing and greater women’s rights, to reach her hometown.

In private, however, some Saudis say it’s become more difficult to reach the king and his court over the past few years.

Stuck in traffic on the night of the king’s arrival, Abdulmajeed, a 33-year-old high-school teacher and Uber driver, spoke of feeling unable to move on to the next stage of his life. Crushed by debt after paying for surgery for his father and supporting his unemployed brother, he can’t afford to get married.

When he sought help from the government more than a year ago, he was asked to send a request by mail to the royal court. He never heard back. He’d hoped to meet the royal delegation in Ha’il but didn’t know how.

As he maneuvered through roadblocks and detours while telling his story, he turned to ask nervously: “If I give you my request, can you reach them?”

Companies BusinessMirror

Editor: Efleda P. Campos

PAL declared world’s Most Improved Airline

L

By Recto L. Mercene

@rectomercene

EGACY carrier Philippine Airlines (PAL) has won another international victory, earning the world’s Most Improved Airline for 2019 award, according to the Australia-based airline review firm AirlineRatings.com.

This is the fourth major global accolade to be received by PAL in 2018.

In February this year, the Filipino airline was certified as a Four Star global airline by the international rating firm Skytrax after excelling in rigorous independent audits of PAL’s inflight and ground services and products.

London-based Skytrax also gave PAL the 2nd Most Improved Airline for 2018 Award in July, based on worldwide passenger surveys.

Most recently, on September 25, PAL received the Four Star Major Regional Airline 2019 award from New-York based Airline Passenger Experience Association (Apex), again based on a comprehensive verified passenger voting system.

In addition, PAL also earned a 7-Star Safety rating (the highest possible) from AirlineRatings.com last September 30. The Filipino flag carrier, likewise, vaulted to the Top 50 World’s Best Airlines rankings, as well as Top 30 Best Cabin Cleanliness rankings of Skytrax, both in July this year.

For the “Most Improved Airline Award 2019,” AirlineRatings.com praised Philippine Airlines for its initiatives “to expand its global footprint using new generation fuelefficient aircraft equipped with the latest cabins.”

AirlineRatings.com editors said Philippine Airlines’s bold expansion plans and its commitment to a next-generation, easy product made it a standout for the most improved airline.”

For his part, PAL President and COO Jaime J. Bautista said, “The world is taking notice of the continuing transformation of Philippine Airlines.”

He added, “We are once again elated and truly humbled by this latest seal of approval, this time from AirlineRatings.com. I share this honor with my PAL family—a team of hardworking professionals dedicated to maintain and sustain a high-quality brand of service that is fueled by the heart of the Filipino service philosophy.”

The ratings body pointed out

that, “Philippine Airlines has expanded its global footprint by more than 60 percent in recent years with innovative services such as a single-aisle [Airbus] A321neo flight between Manila and Brisbane and an A350-900 trans-polar route to New York.”

“Nor has [PAL] stinted when it comes to giving its passengers the latest product,” declared AirlineRatings.com in announcing the award.

The big leap in service standards was manifested in the rollout of PAL’s new and improved Business Class, Premium Economy and Economy Class products, whose passenger-friendly features were described extensively in the AirlineRatings.com award statement, highlighting specific details on expansive legroom, large in-seat video screens, lumbar seatmassage controls, power ports, Wi-Fi access and storage pockets.

AirlineRatings.com lauded the barrier-breaking “historic milestone” set by PAL’s 16-hour nonstop flights to New York City that “crosses the north polar regions to land at New York’s John F. Kennedy International Airport on the evening of the same day.”

The airline review web site cited PAL’s fleet modernization initiatives that will see the airline receive up to 21 brand-new and state-of-theart aircraft in 2018 and 2019. The brand-new fleet enables international and domestic route network expansion plans that include forthcoming services to Japanese city of Sapporo, along with New Delhi and Mumbai. It stressed, “The airline said

Cardinal Santos Medical Center vows better service after accolade

By Rea Cu

@ReaCuBM

C

ARDINAL Santos Medical Center has vowed to further strengthen its service to patients, after being named among the top 10 hospitals by the Department of Health (DOH).

The hospital was awarded in the level-3 top 10 hospitals category by the DOH during the Philippine Hospital Association’s annual conference on Wednesday night at the Manila Hotel.

Cardinal Santos Medical Center President and CEO Atty. Pilar Nenuca P. Almira told the BusinessMirror that the award, aside from confirming that the hospital is on track with its services and best practices, is also a call to enhance and strengthen their services and care to their patients.

“The award affirms that we are doing the right thing. The DOH has a very stringent criteria that they are looking for in a hospital, and when they told us that they didn’t see any issues and that we have met the standards and even did a lot more than what they expected to see, we felt very happy,” Almira said.

The DOH 30 Hospital Star Awards is in celebration of the 120th anniversary of the DOH, with the award recognizing hospitals that uphold high standards of quality in the provision of health services.

Hospitals must meet the DOH’s criteria: safety of patients and employees and infection control, highlighting programs to keep the environment free from harm; service provision, which pertains

HUBERT LAPUZ (from left), president of the Philippine Hospital Association; Rosemarie Serrano, senior assistant chief medical officer; Health Undersecretary Rolando Enrique Domingo; Atty.

Pilar Nenuca Almira of Cardinal Santos Medical Center; Monserrat Velasquez, division head Ancillary Services of Cardinal Santos and DOH Assistant Secretary Atty. Nicholas Lutero, III, director of the Bureau of Health Services and Facilities. Photo was taken after Cardinal Santos hospital received the DOH Hospital Star Awards, which recognizes hospitals exhibiting elevated levels of performance. NONIE REYES

to innovations implemented that impact on patient’s care and outcome; customer and employee satisfaction, being plans and projects that promote increases in the level of satisfaction of employees and customers; community-based projects and activities, being innovation to promote health in the community; quality improvement, with the provision of plans, studies, and projects to continually improve systems, patient safety, and clinical outcomes.

She said the hospital will embark on key changes come 2019 to further level up their provision of services and safety of their patients, as well as reach a wider market for their health-care services.

The hospital will increase the number of patient rooms from 300 at the moment.

“We are improving all our healthcare services in the hospital. We are

adding more rooms, building another 30 rooms,” she added.

“We are going to have a new sports clinic to cater to people who go on sports that get injured. This is getting more responsive now since the country is getting more sports-oriented,” she said.

Cardinal Santos Medical Center is also inclined to partner with two more primary health clinics by 2019 to be able to offer its services to more Filipinos.

“One is, we will expand our reach, so we will have more partnerships outside of the site. We are now partnering with primary health clinics for Cardinal Santos to be the referral center of this clinic, which is run by a foreign company. We are also looking at opening two more in 2019 outside of Cardinal Santos,” she added.

According to its web site, the hospital has 32 health-care partners to date.

last month other destinations being eyed as more A350 aircraft join the fleet included Seattle, Chicago and a point in Western Europe.”

AirlineRatings.com editors also cited PAL’s extensive Asia network, and flights to London Heathrow, the Middle East and several North American destinations, including Toronto, New York and Los Angeles. (PAL also flies to San Francisco, Vancouver and Honolulu, all with nonstop flights from its Manila hub.)

PAL’s move to introduce the advanced A321neo aircraft to Australia through nonstop flights to Brisbane and Sydney helped set an industry trend “which is seeing the new breed of more extended range, single-aisle planes replace bigger aircraft on routes of up to eight hours and part of an ongoing expansion by the Filipino carrier.”

Also cited were PAL’s initiatives to boost frequencies on routes such as Cebu-Siargao, Davao-Tagbilaran, Davao-Clark and Cebu-Bangkok.

AirlineRatings.com is a leading global authority on airline safety and product ratings with an estimated 25 million visitors from 232 countries, and widely recognized for its annual Airline Excellence Awards.

Friday, November 16, 2018

B1

First Gen’s nat gas biz sizzles

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OPEZ-LED First Gen Corp. on Thursday posted a 45-percent increase in recurring net income attributable to equity holders of the parent at $180 million (or P9.4 billion) from January to September this year compared to $124 million (P6.2 billion) in the same period last year.

The company owed its strong performance to its natural gas business, which delivered recurring earnings of $140 million at end-September this year (P7.3 billion) versus $87 million (P4.4 billion) previously.

The company owns the 1,000-MW Sta. Rita, 500-MW San Lorenzo, 420MW San Gabriel and 97-MW Avion gas plants in Batangas.

First Gen’s attributable net income of $151 million (P7.9 billion) in the first three quarters of the year was 50 percent higher from 2017.

The San Gabriel plant, its newest and most modern plant, benefited from markedly higher dispatch and revenues as it sold power in the spot market at attractive prices in the first half of 2018, as well as from its full production to Manila Electric Co. under its power supply agreement in the third quarter. First Gen’s consolidated revenues from the sale of electricity increased by 14 percent to $1.5 billion (P76.2 billion) at end-September this year compared to $1.3 billion (P64 billion) .

The natural gas portfolio accounted for $919 million (P47.9 billion), or 63 percent of First Gen’s total consolidated revenues. Their revenues were 18 percent higher in the first three quarters of 2018 mainly due to higher

volume sales and prices.

“We are pleased to report that First Gen’s sizable investment in new capacity with the modern San Gabriel plant started serving the power needs of Meralco’s customers in the third quarter of 2018.

“We are happy to report that San Gabriel delivers a low-cost source of electricity to Filipino consumers.

Contrary to perception, First Gen is clearly proving the price competitiveness of clean low-carbon natural gas-fired power versus more polluting coal-fired power even at full baseload dispatch,” First Gen President Francis Giles B. Puno said.

Energy Development Corp.’s (EDC) geothermal, wind and solar revenues accounted for $476 million (P24.8 billion), or 33 percent of total consolidated revenues.

Recurring attributable earnings from EDC, excluding FG Hydro, was lower at $55 million (P2.9 billion) in 2018, versus 2017’s $68 million (P3.4 billion), mainly because of First Gen’s reduced economic stake in EDC after the tender offer in September last year and the foreign-exchange translation of EDC’s peso books into US dollars, which is First Gen’s functional currency.

FG Hydro, owner of the 132-MW Pantabangan-Masiway hydroelectric plants, reported flat revenues at $29 million (P1.5 billion). The hydro plants account for only 2 percent of First Gen’s total consolidated revenues.

First Gen has 3,490 MW of installed capacity in its portfolio, which accounts for 21 percent of the country’s gross generation capacity. Lenie Lectura

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Companies BusinessMirror

Friday, November 16, 2018

PSE STOCK QUOTATIONS

November 15, 2018

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED 59.1 59.5 58.5 59.5 57.4 59.5 45500 2652837 597860.5 BDO UNIBANK 117.8 118 115 119 115 118 834720 98482733 -3414508 BANK PH ISLANDS 84.5 84.8 82.6 85.8 82 84.5 5194350 436818008 67089511 CHINABANK 27.8 27.9 27.65 28 27.55 27.7 115900 3213180 -251870 EAST WEST BANK 10.36 10.38 10.4 10.4 10.28 10.38 102400 1059260 -341312 METROBANK 69.75 69.8 67.45 69.9 67 69.8 7845480 540475564 100519449 PB BANK 10.64 11.1 11.1 11.1 11.1 11.1 2200 24420 PHIL NATL BANK 39 39.1 39.1 39.1 38.95 39 155700 6074660 -1966430 PSBANK 72.6 77.4 72.1 72.1 72.1 72.1 60 4326 RCBC 28 28.1 28 28.15 28 28 163700 4583910 -4469055 SECURITY BANK 138.9 139 138.5 139.7 137 139 428200 59440563 -21512883 UNION BANK 65.9 65.95 65.85 65.95 65.85 65.9 10660 702575.5 -166055 BRIGHT KINDLE 1.52 1.56 1.53 1.53 1.51 1.52 180000 273600 COL FINANCIAL 15.2 15.66 15.24 15.66 15.14 15.66 5600 85342 FERRONOUX HLDG 3.86 3.97 3.88 3.97 3.86 3.97 8000 31200 IREMIT 1.42 1.5 1.55 1.55 1.42 1.45 116000 170880 MEDCO HLDG 0.475 0.48 0.47 0.485 0.47 0.475 2550000 1216750 4800 NTL REINSURANCE 0.76 0.77 0.77 0.77 0.76 0.77 492000 378040 PHIL STOCK EXCH 173 181.5 176.1 181.5 173 181.5 2670 465806 101207 SUN LIFE 1811 1888 1888 1888 1888 1888 5 9440

INDUSTRIAL ALSONS CONS 1.23 1.25 1.24 1.24 1.23 1.23 159000 196160 ABOITIZ POWER 31.25 31.7 31.4 32 31.2 31.25 2395200 75031355 -46451240 BASIC ENERGY 0.209 0.223 0.21 0.223 0.208 0.223 5720000 1231090 700820 FIRST GEN 16.88 16.9 16.54 16.96 16.5 16.9 1255100 21190822 6881092 FIRST PHIL HLDG 63.75 64 64 64.1 63.6 64 73770 4709182 -552236.5 PHIL H2O 4.51 4.55 4.45 4.69 4.4 4.55 148000 674390 MERALCO 379.4 379.6 382 382 379.6 379.6 111320 42306574 13445928 MANILA WATER 25.1 25.5 25 25.5 25 25.5 513600 12923605 11989260 PETRON 8.12 8.13 8.27 8.27 8.1 8.12 645100 5235906 235566.9997 PETROENERGY 4.04 4.11 4 4.24 4 4.04 417000 1722690 -12090 PHINMA ENERGY 0.9 0.95 1 1 0.85 0.95 3580000 3268760 15220 PHX PETROLEUM 10.6 10.84 10.58 10.88 10.56 10.58 48600 521266 -47782 PILIPINAS SHELL 48.55 49.95 50.8 50.8 48.55 49.95 1150770 58029920.5 -21044920.5 SPC POWER 5.2 5.29 5.25 5.47 5.2 5.2 3418000 17841990 1049120 VIVANT 17.02 19 18.5 18.5 18.5 18.5 2000 37000 AGRINURTURE 17.4 17.5 17.3 17.5 17.22 17.5 1071000 18669632 1016802.0002 CNTRL AZUCARERA 15 16.2 16.2 16.3 16.2 16.2 1800 29260 CENTURY FOOD 13.32 13.4 13.2 13.46 13.2 13.4 2019000 26652656 26542640 DEL MONTE 6.6 7 6.8 7.08 6.8 7.06 14500 98654 3400 DNL INDUS 10.74 10.8 10.74 10.86 10.7 10.8 202000 2181036 981784 EMPERADOR 6.92 6.93 6.95 6.95 6.91 6.92 18000 124574 -18680 SMC FOODANDBEV 83.95 84 84.95 84.95 84 84 5539870 467543293.5 142217641.5 ALLIANCE SELECT 1.03 1.04 1.08 1.11 1.03 1.04 11309000 12031720 -18430 GINEBRA 23.2 23.3 23.5 23.5 23.2 23.3 9700 227250 JOLLIBEE 279 280 278.8 282 276.6 280 371040 103925662 60790386 LIBERTY FLOUR 40.05 58 50 50 50 50 320 16000 MACAY HLDG 8.66 10.18 9.48 10.18 9.48 10.18 1200 11516 MAXS GROUP 10.46 10.48 10.56 10.6 10.4 10.48 104900 1099210 -853028 PEPSI COLA 1.48 1.49 1.55 1.55 1.49 1.49 791000 1186860 -1183880 SHAKEYS PIZZA 9.99 10 10.06 10.06 10 10 177800 1778054 -1103004 ROXAS AND CO 2 2.01 1.97 2.01 1.92 2.01 301000 581550 RFM CORP 4.6 4.66 4.61 4.61 4.6 4.6 24000 110440 -18430 ROXAS HLDG 2.74 3 3.15 3.15 2.95 3 50000 155350 UNIV ROBINA 126.4 126.5 122 128 122 126.5 452070 57013276 3085258 VITARICH 1.38 1.41 1.4 1.42 1.38 1.38 1244000 1733540 CEMEX HLDG 1.96 1.97 2 2 1.96 1.97 9068000 17957680 -3048140 EAGLE CEMENT 15 15.4 15.28 15.4 14.82 15.4 493400 7547270 -287260 EEI CORP 8.85 8.88 8.85 8.9 8.8 8.88 1019600 9062323 HOLCIM 6.05 6.1 6.2 6.2 5.9 6.1 20300 124051 -117426 MEGAWIDE 17.4 17.6 17.6 17.78 17.24 17.6 2890200 50391256 -16319136 TKC METALS 0.84 0.87 0.87 0.87 0.84 0.84 37000 31140 VULCAN INDL 1.49 1.5 1.52 1.57 1.45 1.5 10836000 16392770 -262860 CROWN ASIA 1.4 1.46 1.43 1.43 1.38 1.43 686000 962480 LMG CHEMICALS 4.65 4.98 4.7 4.7 4.7 4.7 17000 79900 MABUHAY VINYL 3.3 3.35 3.35 3.35 3.35 3.35 5000 16750 PRYCE CORP 5.11 5.49 5.2 5.5 5.1 5.11 3400 17675 -4125 CONCEPCION 34 35.8 35.8 35.8 35.8 35.8 200 7160 GREENERGY 1.61 1.62 1.6 1.65 1.59 1.62 6963000 11247130 285710 INTEGRATED MICR 8.29 8.32 8.22 8.38 8 8.29 6212700 51140019 -2760557 IONICS 1.49 1.51 1.56 1.56 1.48 1.5 215000 323230 SFA SEMICON 1.23 1.27 1.34 1.34 1.21 1.23 1859000 2332480 -273360 CIRTEK HLDG 36.35 37 36.85 37 36.5 37 172900 6388715 -44330

HOLDING & FRIMS ABACORE CAPITAL 0.445 0.45 0.435 0.45 0.435 0.445 13750000 6076150 118850 ASIABEST GROUP 22.25 22.45 22.75 24 21.7 22.3 2070300 46080885 44479840 AYALA CORP 898 904 895 903.5 891.5 898 196270 176193425 -27527450 ABOITIZ EQUITY 45.25 45.9 45.3 46.45 44.5 45.9 157600 7229885 -1137205 ALLIANCE GLOBAL 10.28 10.3 10.54 10.74 10.18 10.28 9166800 95004716 -28434818 ANSCOR 6.22 6.26 6.22 6.29 6.2 6.22 86300 539159 1240 ATN HLDG A 1.46 1.47 1.43 1.51 1.43 1.47 38096000 56245790 ATN HLDG B 1.47 1.5 1.44 1.51 1.44 1.47 7371000 10904800 -116800 COSCO CAPITAL 6.96 7 7 7.07 6.75 7 2180100 15223130 8644339 DMCI HLDG 12.42 12.6 12.74 12.74 12.42 12.42 3378800 42538608 28808786 FILINVEST DEV 7.37 7.38 7.34 7.38 7.34 7.37 27500 202291 GT CAPITAL 720 723.5 715 725 710 720 98120 70163025 -25944895 HOUSE OF INV 5.76 6.01 5.95 5.95 5.95 5.95 2500 14875 JG SUMMIT 44.5 44.6 43.8 44.95 43.8 44.5 914300 40,645,310( 23,283,274.9996) LODESTAR 0.5 0.51 0.53 0.53 0.5 0.5 126000 63040 LOPEZ HLDG 3.72 3.85 3.79 3.85 3.71 3.85 1476000 5551570 -2108400 LT GROUP 15.84 15.88 15.92 15.98 15.6 15.84 2587900 41055064 15675608 MABUHAY HLDG 0.52 0.53 0.51 0.53 0.51 0.52 464000 240250 METRO PAC INV 4.48 4.49 4.4 4.53 4.37 4.49 21773000 97477890 -64599940 PACIFICA 0.033 0.034 0.033 0.033 0.033 0.033 500000 16500 PRIME ORION 2.43 2.44 2.47 2.47 2.38 2.44 461000 1120790 92720 PRIME MEDIA 1.16 1.2 1.16 1.16 1.16 1.16 85000 98600 REPUBLIC GLASS 2.56 2.69 2.68 2.69 2.68 2.69 5000 13440 SOLID GROUP 1.27 1.35 1.26 1.38 1.25 1.26 42000 53120 12500 SYNERGY GRID 523 - 349.2 523 349 523 2810 1376354 SM INVESTMENTS 879.5 880 884 888 878 880 207660 182885615 -87995760 SAN MIGUEL CORP 168.9 169.2 169.2 171.9 168.9 169.2 240540 40700919 -1612203 TOP FRONTIER 262 279 265.2 279 260 279 11500 3133944 -2200000 WELLEX INDUS 0.211 0.219 0.22 0.22 0.21 0.211 790000 167160

PROPERTY ARTHALAND CORP 0.51 0.52 0.52 0.52 0.5 0.51 406000 207680 10400 AYALA LAND 38.45 38.5 38.8 39.25 38.3 38.5 9783500 377386025 -53185380 ARANETA PROP 1.79 1.8 1.85 1.85 1.79 1.8 122000 219790 BELLE CORP 2.16 2.17 2.19 2.2 2.17 2.17 1080000 2359550 -1695760 A BROWN 0.75 0.76 0.69 0.75 0.69 0.75 2777000 2023580 CITYLAND DEVT 0.85 0.87 0.86 0.88 0.85 0.87 358000 305010 10440 CROWN EQUITIES 0.206 0.21 0.207 0.214 0.206 0.21 4290000 889840 408180 CEB LANDMASTERS 3.69 3.7 4.15 4.15 3.6 3.7 8565000 31864110 3926170 CENTURY PROP 0.405 0.415 0.41 0.415 0.405 0.415 4900000 2021100 -108150 CYBER BAY 0.35 0.38 0.38 0.38 0.38 0.38 20000 7600 DOUBLEDRAGON 17.18 17.2 17.3 17.3 17.14 17.2 439100 7544424 2086384 DM WENCESLAO 7.54 7.55 7.54 7.57 7.5 7.55 678000 5109211 -112500 FILINVEST LAND 1.42 1.43 1.42 1.42 1.41 1.42 1554000 2204130 195780 GLOBAL ESTATE 1 1.01 1 1 1 1 1044000 1044000 8990 HLDG 7.1 7.15 7.12 7.19 7.02 7.18 47700 336349 IRC PROP 2.34 2.35 2.29 2.39 2.27 2.34 10080000 23528640 -492160 CITY AND LAND 0.82 0.89 0.89 0.89 0.81 0.81 19000 15950 6230 MEGAWORLD 4.5 4.51 4.5 4.54 4.49 4.51 1886000 8522930 3200440 MRC ALLIED 0.335 0.34 0.335 0.355 0.325 0.34 53710000 18425150 -1878800 PHIL ESTATES 0.445 0.455 0.44 0.45 0.44 0.45 1520000 682350 PRIMEX CORP 3.59 3.6 3.6 3.6 3.58 3.6 641000 2303230 -272900 ROBINSONS LAND 19.98 20 19.62 20.5 19.62 20 4469400 90432172 -36604855 PHIL REALTY 0.355 0.37 0.365 0.375 0.35 0.375 710000 260050 ROCKWELL 1.91 1.94 1.93 1.94 1.92 1.93 124000 239170 90810 STA LUCIA LAND 1.12 1.14 1.14 1.14 1.12 1.14 420000 470520 SM PRIME HLDG 31.85 31.95 31.75 31.95 31.55 31.95 9159500 291115790 -106959955 STARMALLS 4.01 4.02 4.05 4.08 4.01 4.02 144000 581470 28199.9999 VISTA LAND 5.19 5.2 5.19 5.2 5.15 5.2 775400 4024966 630007

SERVICES ABS CBN 19.5 19.8 19.5 19.6 19.48 19.5 144600 2820220 GMA NETWORK 5.22 5.26 5.22 5.27 5.22 5.22 113100 590892 MANILA BULLETIN 0.36 0.37 0.365 0.37 0.365 0.37 60000 22050 MLA BRDCASTING 15 16.46 14.1 15 14.02 15 5400 79534 GLOBE TELECOM 1860 1865 1869 1899 1851 1865 63745 119431590 68671045 PLDT 1164 1165 1177 1200 1165 1165 49095 57974085 -3971025 APOLLO GLOBAL 0.038 0.039 0.037 0.039 0.037 0.039 2600000 98700 ISLAND INFO 0.093 0.098 0.09 0.099 0.09 0.099 770000 73700 ISM COMM 7.82 7.83 7.8 8.48 7.8 7.83 89606400 726054566 27395699.0001 JACKSTONES 3.26 3.45 3.26 3.53 3.25 3.45 29000 95650 NOW CORP 2.97 2.98 2.89 3.04 2.84 2.98 3728000 11001340 1033280 TRANSPACIFIC BR 0.335 0.34 0.34 0.35 0.33 0.335 27040000 9141000 -456649.9997 PHILWEB 3.05 3.07 3.05 3.14 3.04 3.08 306000 937400 3140 2GO GROUP 10 10.28 9.7 10.48 9.7 10.28 5400 54180 -2060 CEBU AIR 63 63.05 62.55 63.9 62.55 63 333370 21015710 3934327.5 CHELSEA 7.75 7.79 7.87 8.04 7.7 7.79 4845800 37968564 -85604 INTL CONTAINER 92.2 92.3 92.5 92.6 92.05 92.3 557810 51467836.5 860294 LBC EXPRESS 13.84 14.38 13.82 13.82 13.82 13.82 800 11056 LORENZO SHIPPNG 0.69 0.7 0.7 0.7 0.69 0.69 89000 62000 MACROASIA 14.46 14.48 14.9 14.9 14.4 14.48 1345000 19492866 -9113594 METROALLIANCE A 1.13 1.23 1 1.32 1 1.23 115000 127020 METROALLIANCE B 1.03 1.42 1.46 1.46 1.45 1.45 3000 4360 -1460 PAL HLDG 7.63 7.99 7.63 7.99 7.63 7.99 27100 206953 HARBOR STAR 3.44 3.45 3.54 3.63 3.39 3.45 3130000 11049660 149310 GRAND PLAZA 9.54 11.88 11 11 11 11 100 1100 WATERFRONT 0.46 0.465 0.46 0.46 0.45 0.46 2160000 982000 FAR EASTERN U 892 945 950 950 950 950 50 47500 IPEOPLE 10.5 10.98 10.02 10.5 10.02 10.5 18600 192852 STI HLDG 0.59 0.6 0.6 0.6 0.58 0.6 2692000 1592740 -460750 BERJAYA 1.56 1.6 1.59 1.62 1.55 1.6 1340000 2129710 BLOOMBERRY 7.64 7.65 7.8 7.84 7.58 7.65 5412800 41801134 -34275171 PACIFIC ONLINE 10.26 10.86 10.5 10.5 10.5 10.5 2000 21000 LEISURE AND RES 2.61 2.63 2.79 2.79 2.56 2.61 776000 2062090 -1110160 MANILA JOCKEY 5.4 5.5 5.5 5.5 5.5 5.5 100 550 MELCO RESORTS 7.13 7.14 7.14 7.14 7.13 7.13 1257300 8965593 -5854447 PREMIUM LEISURE 0.63 0.64 0.63 0.65 0.62 0.63 2394000 1508110 -801010 TRAVELLERS 5.14 5.15 5.18 5.18 5.13 5.14 5019500 25753085 -23917642 METRO RETAIL 1.92 1.95 1.93 1.94 1.91 1.92 1516000 2908680 -153580 PUREGOLD 41.85 41.9 42 42 41.5 41.9 63300 2649530 -1155195 ROBINSONS RTL 76.5 76.7 76.5 77 75.3 76.7 112390 8623745.5 -699791.5 PHIL SEVEN CORP 106.8 110 106.7 110.9 106.7 110.9 53500 5721785 212764 SSI GROUP 2.68 2.69 2.75 2.77 2.63 2.68 9349000 25035850 3371630 WILCON DEPOT 12.38 12.4 12.48 12.5 12.32 12.4 3152500 39042712 22941780 APC GROUP 0.355 0.36 0.35 0.375 0.35 0.36 700000 253600 EASYCALL 5.38 5.4 5.62 5.7 5.4 5.4 184700 1019790 -28100 GOLDEN BRIA 310.8 319 316.8 319 311.8 319 750 237640 IPM HLDG 7.05 7.1 7.15 7.15 7.1 7.1 5500 39175 PAXYS 3.11 3.4 3.4 3.4 3.1 3.4 9000 29700 PRMIERE HORIZON 0.315 0.32 0.32 0.32 0.315 0.315 540000 172250 SBS PHIL CORP 6.78 6.97 6.8 6.84 6.78 6.78 26500 180492 96852

MINING & OIL ATOK 12.64 13.64 13 13.68 12.62 13.66 3900 50530 APEX MINING 1.73 1.74 1.77 1.77 1.72 1.74 1916000 3342630 ABRA MINING 0.002 0.0022 0.0021 0.0021 0.002 0.0021 216000000 442700 ATLAS MINING 2.31 2.38 2.39 2.39 2.31 2.31 165000 392120 -6930 CENTURY PEAK 1.92 1.95 1.94 1.95 1.94 1.95 127000 247150 DIZON MINES 6.92 7.02 6.91 7.05 6.91 7.03 1400 9720 FERRONICKEL 1.73 1.74 1.7 1.74 1.7 1.74 1019000 1769200 -55220 GEOGRACE 0.195 0.201 0.2 0.201 0.195 0.201 310000 60980 LEPANTO A 0.096 0.1 0.098 0.098 0.096 0.097 1150000 110470 LEPANTO B 0.097 0.108 0.096 0.096 0.095 0.095 300000 28610 MANILA MINING A 0.0068 0.007 0.0068 0.0068 0.0068 0.0068 7000000 47600 MARCVENTURES 1.09 1.16 1.16 1.16 1.16 1.16 1000 1160 NIHAO 0.98 1.02 1.02 1.02 0.99 1.01 14000 13950 NICKEL ASIA 2.34 2.36 2.37 2.37 2.33 2.34 1283000 3012540 -357270 ORNTL PENINSULA 0.9 0.91 0.88 0.92 0.88 0.9 413000 371700 102070 PX MINING 2.85 2.87 2.93 2.93 2.85 2.85 1959000 5612950 -2587830 SEMIRARA MINING 26.2 26.25 26.1 26.7 26.05 26.25 802400 21094145 -4342565 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 2200000 27500 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 10500000 136500 -117000 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 900000 10500 PHINMA PETRO 4.1 4.11 4 4.1 4 4.1 576000 2356900 PXP ENERGY 17.72 17.8 17.9 18.16 17.48 17.72 3719300 66287992 -12713530

PREFFERED AC PREF B1 AC PREF B2 DD PREF FGEN PREF G FPH PREF C GLO PREF P LR PREF PNX PREF 3B PCOR PREF 2B SMC PREF 2B SMC PREF 2C SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

450 485 96 100.5 451 446.2 1.02 103.1 1000 75.1 76.1 72.55 74.9 74.8 72.4 73.1

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19 5.06

465 488 97 102.5 480 484.4 1.03 108.5 1005 75.5 76.6 75 75 75 73.6 73.5

460 488 96 100.5 480 450 1.02 103.1 1005 76 76 74.95 75.1 74.8 73 73.5

460 488 96 100.5 480 460 1.02 103.1 1005 76 76 74.95 75.1 74.8 73.6 73.5

460 487 96 100.5 480 450 1.02 103.1 1005 75.5 76 74.95 75 74.8 73 73.1

460 487 96 100.5 480 450 1.02 103.1 1005 75.5 76 74.95 75 74.8 73.6 73.5

3480 150 490 40 10 23620 90000 2080 10 2260 20300 400000 42610 7700 7740 20660

1600800 73150 47040 4020 4800 10629100 91800 214448 10050 170780 1542800 29980000 3196750 575960 567420 1510605

-

20 5.25

19.1 5.2

19.1 5.2

18.84 5.2

19.1 5.2

49500 4500

941670 23400

-941670 -

WARRANTS LR WARRANT

1.66

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.06 MAKATI FINANCE 2.64 XURPAS 1.19

1.7

1.7

1.76

1.6

1.65

228000

384770

33500\

4.07 2.85 1.2

3.84 2.66 1.13

4.1 2.99 1.2

3.84 2.65 1.11

4.06 2.86 1.19

782000 116000 3020000

3142940 310260 3529580

24420 -276300

EXHANGE TRADE FUNDS FIRST METRO ETF

104.1

105

104.5

105

104.1

104.1

9560

999795

-

Editor: Efleda P. Campos

Prime Water submits lowest bid for New Clark City water supply

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By Ashley Manabat | Correspondent

LARK FREEPORT—The lowest bid for the water and wastewater infrastructure project in New Clark City was submitted by the consortium of Prime Water Infrastructure Corp., PAVI and MGS Construction Inc. and Israel’s Tahal Group, a global provider of sustainable infrastructure.

This was announced by the Bases Conversion and Development Authority (BCDA) on Thursday.

A statement from the BCDA also said Prime Water, PAVI, MGS Construction and Tahal Consortium submitted the lower bid of P9.45 per cubic meter, besting the P11.00

per cubic meter bid by the Manila Water Co. The BCDA said this was determined during the opening of technical and financial proposals held at the BCDA Corporate Center in Taguig City earlier this week.

Present at the bid opening were

representatives from the Commission on Audit (COA) and the Asian Development Bank (ADB), BCDA’s transaction advisor for the project.

The water and wastewater project ensures a safe, affordable and sustainable water source in New Clark City. It incorporates smart components, including advanced metering infrastructure, and high standard wastewater treatment, among other innovations.

BCDA Senior Vice President and Chief Finance Officer Atty. Nena D. Radoc, also the chairman of the Joint Venture Selection Committee, said the Prime Water Consortium will undergo post-qualification process as part of due diligence before the award.

The proposed P9.45-per-cubicmeter rate shall apply to the water supply only. The same amount shall be charged for wastewater services equating to a total rate of P18.90 per cubic meter for the first five years of the 30-year joint-venture period.

The winning bid for NCC is viewed as highly competitive when compared with rates for cities in the Philippines, Southeast Asia and globally, and is expected to attract leading locators to the city.

Effective January 1, 2018, Metropolitan Waterworks and Sewerage System (MWSS) approved the basic rates of P35.48 per cubic meter and P25.50 per cubic meter for Maynilad and Manila Water, respectively.

BCDA targets to sign the jointventure agreement with the winning partner by the end of the month.

New Clark City, located within the Clark Special Economic Zone, is envisioned to be the first smart, green, and sustainable metropolis in the country.

Phase 1A, which covers 60 hectares, involves the construction of the National Government Administrative Center, including the world-class sports complex to be used for the Philippines’s hosting of the Southeast Asian Games in 2019.

LRMC taps 2 firms for ₧650-M rehab work

By Lorenz S. Marasigan @lorenzmarasigan

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IGHT Rail Manila Corp. (LRMC) has tapped First Balfour Inc. and MRail Inc. for the P650-million rehabilitation of the power substations of the Light Rail Transit (LRT) Line 1.

The contract covers 11 rectifier substations along the whole 21 kilometers of the train line, involving the replacement of major substation equipment, such as the critical switchgears, rectifiers, transformer and cables.

“Some of these substations are 30 years old and need to be modernized to ensure reliability and efficiency of electric supply to our trains,” LRMC President Juan F. Alfonso said on Thursday.

He added that the rehabilitation works will

allow the company “to use newer, more sustainable technology” to support its commitments to the environment as part of its ISO 45000 certification, which was awarded to the company a few months ago.

The contract also includes the enhancement of the supervisory control and data acquisition system, and the modernization of fire detection and suppression systems.

“As they power our trains, the substations are absolutely critical to providing reliable electricity supply and efficient operations of trains,” Alfonso said.

He noted that the project is part of the ongoing train system improvements, which include the rehabilitation of trains, renovation of the 20 stations, as well as the structural enhancements

GT Cap income flat in Jan-Sept

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T Capital Holdings Inc., the holding firm of tycoon George Ty, said its core income was flat at P11 billion in the first three quarters of the year ending September, dragged by weak automotive sales.

Consolidated revenues was at P161.3 billion, down from P169.5 billion last year.

“The country’s macroeconomic indicators as of the third quarter have shown some positive trends, suggesting that inflation may have already peaked. Oil prices have declined, foreign-exchange rates have shown some strength and food prices have stabilized. We believe that these factors, combined with the increased spending levels in the last quarter, provide a good backdrop for improved conditions in 2019,” GT Capital Chairman Arthur V. Ty said.

“Our year-to-date results show the counterbalance between the soft auto sector volume sales mitigated by strong growth in financial services, property, and insurance segments.

The consensus is that the decline in auto sales may have bottomed out as monthly volumes have stabilized.

We are more optimistic for the coming year, anticipating a rebound in consumer confidence arising from a less volatile macroeconomic environment,” GT Capital President Carmelo Maria Liza Bautista said.

Higher equity in net income of associates Metropolitan Bank and Trust Co., Metro Pacific Investments Corp., A X A Philippines, Toyota Financial Services Philippines and Sumisho Motor Finance Corp. contributed to GT Capital’s

financial performance.

Consolidated revenues from Toyota Motor Philippines reached P119.3 billion in the first nine months of the year, down by 9 percent from P130.7 billion last year.

Net income was at P6.6 billion, down by a third from last year’s P9.9 billion as retail vehicle sales of 109,402 units for the period was down from last year’s 132,721 units.

Monthly sales grew 3 percent for September to 12,686 units from 12,315 units in the previous month.

The company continues to lead the Philippine auto sector with 37.4-percent overall market share.

GT Capital’s property development subsidiaries, Federal Land Inc. and Property Company of Friends Inc., attained a combined P18.4 billion in consolidated revenues during the period, a 43-percent increase, from P12.9 billion last year.

Combined real-estate sales for the period grew by 48 percent in the first nine months to P16.1 billion, from P10.9 billion last year.

The two companies reported an aggregate net income of P2.3 billion, up by 20 percent, from P1.9 billion last year.

Insurer AXA Philippines’s net income rose by 21 percent to P2.14 billion, from P1.77 billion last year.

Consolidated life and nonlife total premium income for the period rose 24 percent to P28 billion from P22.7 billion.

Sales in annualized premium equivalent rose 21 percent to P5.6 billion from the previous P4.7 billion, driven by growth in regular and single premiums of 19 percent and 29 percent, respectively. VG Cabuag

of the parapets.

So far, LRMC has spent about P10 billion to modernize the existing structures of the train line, Southeast Asia’s oldest overhead train line.

The upgrade has increased the number of trains from 77 to 112 in its first three years, enabling the operator to increase the number of trips and accommodate more passengers.

MUTUAL FUNDS

Aside from upgrading the existing system, the company will also extend the train system to Cavite.

LRMC, led by Metro Pacific Investments Corp. and Ayala Corp. in partnership with Macquarie Infrastructure Holdings (Philippines) Pte. Ltd., won the 32-year concession to operate, maintain, modernize and extend the LRT 1 in 2015.

November 15, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 236.58 -17.86% -1.38% -0.01% -19.31% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3591 -15.74% 3.29% 1.73% -14.89% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.6562 -18.61% -0.92% -1.05% -20.39% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8399 -17.25% N.A. N.A. -17.41% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.7705 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 4.8591 -17.68% -3.41% -0.63% -19.19% MBG EQUITY INVESTMENT FUND, INC. * ****** 108.53 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.7782 -19.52% N.A. N.A. -21.61% PAMI EQUITY INDEX FUND, INC.* 45.7733 -16.84% -0.6% N.A. -18.83% PHILAM STRATEGIC GROWTH FUND, INC.* 479.58 -16.74% -1.83% -0.75% -18.5% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.1838 -14.84% 0.27% N.A. -15.7% PHILEQUITY FUND, INC.* 34.4684 -14.89% 0.71% 2.19% -16.13% PHILEQUITY PSE INDEX FUND INC.* 4.603 -17.22% 0.1% 1.91% -18.88% PHILIPPINE STOCK INDEX FUND CORP.* 768.53 -17.1% -0.11% 1.76% -18.74% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8048 -15.2% -2.28% N.A. -16.78% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.8363 -14.66% 0.22% 0.44% -16.24% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.886 -17.34% -0.09% N.A. -18.96% UNITED FUND, INC.* 3.284 -13.01% 1.35% 0.91% -15.67% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* **102.7337 -16.73% 1.04% N.A. -18.44% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9387 -14.83% 1.35% -0.28% -15.3% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.195 -2.9% N.A. N.A. -5.55% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.5926 -13.21% -2.72% -2.41% -14.54% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1257 -12.38% -0.65% -0.35% -13.48% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.3971 -12.49% -4.3% -2.91% -13.46% GREPALIFE BALANCED FUND CORPORATION* **** 1.2574 -12.95% N.A. N.A. -13.57% NCM MUTUAL FUND OF THE PHILS., INC* 1.7793 -9.19% -0.09% 0.11% -10.7% PAMI HORIZON FUND, INC.* 3.358 -13.07% -1.96% -1.03% -14.3% PHILAM FUND, INC.* 15.1857 -12.39% -1.75% -1.01% -13.51% SOLIDARITAS FUND, INC.* ******** 1.976 -11.01% -0.41% 1.13% -11.87% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.5111 -10.98% -0.69% -0.41% -12.14% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.8962 -10.46% -1.07% N.A. -12.16% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03465 -3.88% -0.77% 1.65% -4.02% PAMI ASIA BALANCED FUND, INC.* $0.9349 -10.54% 1.46% -1.29% -10.71% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.484 -2.46% 3.43% 2.16% -4.61% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0372 -5.57% N.A. N.A. -6.74% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342 1.86% 1.97% 1.66% 1.45% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8507 -2.63% -0.86% -0.75% -2.2% COCOLIFE FIXED INCOME FUND, INC.* 2.9539 5.52% 5.35% 5.24% 4.67% EKKLESIA MUTUAL FUND INC.* 2.1233 0.97% 1.4% 1.05% 1% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2029 - 0.46% -0.1% 0.16% -0.6% GREPALIFE FIXED INCOME FUND CORP.* P 1.56 -3.17% -0.76% -1.44% -3.08% PHILAM BOND FUND, INC.* 3.8424 -5.32% -1.19% -0.99% -5.13% PHILEQUITY PESO BOND FUND, INC.* 3.474 -0.56% 0.05% -0.21% -0.88% SOLDIVO BOND FUND, INC. * 0.8808 -4.56% -1.27% N.A. -4.59% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7488 -0.99% 0.72% 0.11% -1.02% SUN LIFE PROSPERITY GS FUND, INC.*

1.5238 -1.66% 0.12% -0.31% -1.67% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $446.49 0.46% 2.27% 3.03% 0.12% ALFM EURO BOND FUND, INC. * Є213.1 0% 1.14% 1.57% -0.29% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1217 -1.19% 0.79% 1.75% -1.09% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 - 0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6882 -4.58% -0.47% 1.13% -4.7% 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* $1.0224 -5.11% -0.7% -2.64% -4.76% PHILAM DOLLAR BOND FUND, INC.* $2.1325 -4.57% 0.27% 2.43% -5.26% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0569016 -1.03% 0.86% 1.84% -0.52% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8743 -4.33% 0.55% 1.71% -4.6% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.26 2.54% 1.74% 1.49% 2.25% PHILAM MANAGED INCOME FUND, INC.* 1.1758 1.74% 0.42% 0.41% 1.59% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2135 2.51% 2.2% 1.48% 2.36% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0137 1.54% N.A. N.A. 1.5%

* - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE.

**** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.).

***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Friday, November 16, 2018

B3

Govt may tap ‘sukuk’ bonds to fund ‘BBB’

By Rea Cu

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@ReaCuBM

HE Department of Budget and Management (DBM) is studying opportunities offered by a Shariahcompliant financing instrument, or sukuk bonds, to fund the Duterte administration’s “Build, Build, Build” (BBB) program.

This was revealed by Budget Secretary Benjamin E. Diokno during the sixth Association of Southeast Asian Nations (Asean) Universities International Conference on Islamic Finance on Wednesday in Makati City. Diokno said that part of the administration’s financing strategy is to continuously diversify the country’s investor base, hinting that sukuk may also be ventured into in the near future.

“The President’s commitment to the Muslim people is not lost on us, his economic managers. One important economic issue that we are looking into is lack of access to Shariah-compliant financial instruments in the market,” Diokno said.

He further emphasized how the BBB infrastructure program will help build the government’s asset base in the future. This asset base, he added, can be further strengthened with the issuance of sukuk bonds.

“This should be exciting news with Islamic Finance being largely collateralbased or asset-backed,” he added.

The Philippines became the first Asean sovereign to issue Panda bonds, or renminbi-denominated bonds this year, which was warmly received by the Chinese and other offshore markets. The country also recently returned to the public Samu-

rai market, for yen-denominated securities, after an eight-year break.

“That still needs study by the DOF [Department of Finance]. I know there’s a bill in the House [of Representatives] that will actually strengthen Amanah’s bank structure. But that would probably take another year,” he said.

In October 2017 Rep. Frederick W. Siao of the Lone District of Iligan City said the rehabilitation of war-torn Marawi City can also be funded through issuance of “Islamic bonds” through the lone Islamic bank, the Al Amanah Islamic Investment Bank of the Philippines (Al Amanah).

Siao said the issuance of a sukuk bond will enable the country to tap funds from the 57 member-countries of the Organisation of Islamic Cooperation.

The lawmaker explained “Sukuk can be compared with government bonds, only that these financial papers do not follow the Western banking concept of riba, or interest.”

“Under Islamic banking, a holder of a sukuk means he or she holds ownership in the investment, and the bank becomes a business partner.”

Sukuk bonds are backed by assets since Islamic shariah rules prohibit Muslims from earning interest from loans.

Lessons from the Association Leadership Forum Part Two

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ET me continue sharing some insights from the Association Leadership Forum I attended from October 29 to 31 in Singapore. The event was organized by the Washington, D.C.-based American Society of Association Executives (ASAE) where I am a member and a volunteer to its Asia-Pacific Advisory Task Force.

The third “deep dive” session was handled by Nikki Walker, vice president of MCI Group’s Global Association Management and Consulting, who presented “Strengthening Partnerships and Collaboration to Build your Association” in the context of going global. She identified five successful global growth strategies for associations, to wit: n Dedicate commitment and effort to global growth; n Introduce relevant products and services to international audiences; n Integrate global and local operations; n Secure partnerships that open market access and improve local capacity; and Consider going into emerging markets.

In the ensuing discussions, this time on legal aspects of going global, Dorothy W. Deng, partner at Whiteford, Taylor & Preston law firm in the US, recommended three areas to mitigate risks: n Do due diligence and consider the totality of risk in partnering with a local organization as home and destination legal compliance differs.

Protect your brand and intellectual property.

Get insurance coverage relevant to your association.

The fourth deep dive session was on “Advancing your Association’s Public Policy and Global Relations Goals,” presented

by Dom LaVigne, former director of Government and Public Affairs, Asia-Pacific and the Middle East of the Methanol Institute. Dom offered the following advice: Have an in-house government relations person.

Make your association visible and know your stakeholders.

Remember that different markets have different policies.

Educate locally, influence globally.

The final deep-dive session on “Embracing Digital Transformation to Move your Association Forward” was conducted

Association World Octavio Peralta

by Donald Patrick Lim, Country CEO of Dentsu Aegis Network Philippines, who advised the audience to: (a) embrace digital transformation gradually, and start with the basics; (b) provide room for the “human touch”; and (c) stay relevant by knowing your “why” or purpose of being.

I left the conference with mixed feelings about the future of associations. I was fearful about the many disruptions in today’s association world. Among others, this includes artificial intelligence that will put some association jobs at risk of being replaced by robots; online platforms that provide products and services that compete with what associations traditionally offer; and the rise of the “gig economy” where independent and freelance workers thrive. But at the same time, I am also confident and relieved that by having foresight as what the ASAE ForesightWorks project aims to achieve, and by working together, associations can harness the synergies and strengths of one another to meet these challenges.

As Lyn Lewis-Smith, CEO of Business Event Sydney, puts it in the book, The Power of Conferences, “conferences deliver knowledge, innovation and practice,” and this is what I take home every time I attend a conference.

The column contributor, Octavio Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), and founder and CEO of the Philippine Council of Associations and Association Executives.

PCAAE is holding its Sixth Associations Summit on November 23 and 24, at the Subic Bay Exhibition and Convention Center. The event is hosted by the Subic Bay Metropolitan Authority and supported by the Tourism Promotions Board. PCAAE enjoys the support of ADFIAP, TPB and the Philippine International Convention Center.

E-mail: obp@adfiap.org

B4 Friday, November 16, 2018

SM AURA PREMIER‘CAPTURES’CHRISTMAS IN THE WILD GOING BEYOND AIRPORT COMFORT

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HEN Belmont Manila opened in 2015, it was looking beyond just being a comfortable airport hotel for layovers or delayed flights.

Situated in Newport City’s integrated leisure complex, the 470-room, 4-star hotel aims to be a leisure destination in the southern Metro with first-class amenities and superb location, even for those who don’t fly.

Connected to the Ninoy Aquino International Airport Terminal 3 by the Runway Manila overhead walkway, the cozy business hotel has become an urban oasis for its features worthy of a staycation.

The 10-story hotel sports a contemporary

architecture and a tropically landscaped atrium, which provides an overlooking view of the Resorts World Manila.

It boasts of a podium garden, a 24-hour fitness center and workout area, lap pool with an in-water and sunbathing lounges, massage deck and seating area, pool spa, and steam and sauna rooms.

Guests can enjoy the 360-degree panoramic view of the south, as well as landings and takeoffs of airplanes while they dip in the roofdeck pool or outdoor jacuzzi. It also has an arcade at the ground level, with coffee shops, convenience stores, dining and retail outlets for guests’ convenience.

Meanwhile, dining outlet Café Belmont has become a getaway for a culinary journey with its wide array of delectable cuisine of all-time Filipino favorites and inter nationa l delights. Guests can sink their teeth on the hotel ’s specialt y dishes—Blueberr y Burger of 100-percent pure US Angus beef patty, chicken pesto lasagna, and crunchy crispy pata, to name a few.

As part of its third anniversary treat, the hotel is offering the Ghouls Night Out buffet on Friday and Saturday of November for a

spread of delicious treat, including pumpkin cheesecake, Seared Mojito Mahi Mahi, Callo’s Madrilenos and Arroz Con Pollo for only P1,100 net per person.

For power lunches, guests can choose from an array of themed executive lunch— brunch buffet on Tuesday, healthy buffet on Thursday and Mongolian spread on Sunday for P500 net per person.

For the Yuletide season, the hotel is offering Be Merry This Season package from December 5 to January 5, 2019, which includes an overnight stay for two in a superior room, breakfast for two, a Bailey Bear and P1,000 worth of dining credits, for only P6,500 net.

The hotel is also positioning itself as a cozy watering hole with its nightly bottomless Heineken draught beer promo with a complimentary grub of choice, for P1,200 net per person at Rooftop 11.

As part of its continuing quest for excellence, Belmont forged an agreement with Geneva-based SGS, the global leading inspection, verification, testing and certification company, on its hospitalityexperience certification program, which was designed to provide solutions to issues encountered by the industry.

Belmont is the world’s first hotel to undergo such new stringent certification, which consists of four modules—risk, sustainability,corporatesocialresponsibility and quality of service experience.

For promos and updates, visit www. belmonthotelmanila.com.

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HIS Christmas SM Aura Premier takes customers on a stunning holiday expedition to the sparkling wild. Life-size installations of majestic creatures from the safari, and glittering stars and lights in hues of gold and green found their way to the gigantic Christmas tree display at the mall’s main atrium. During the tree-lighting ceremony, the audience was treated to an Africaninspired ensemble, with a drum circle and dancers decked as the animals of the wild. The program was capped off by an elegant aerial dance display signaling the lighting of the tree.

Christmas is all about magic, and after last year’s Under The Sea digital underwater experience, SM Aura pushes the envelope of art even further by creating an immersive display in partnership with

Huawei Mobile Philippines, called “Prism of Lights”.

Mallgoers can now experience the interactive light show, an interpretation of the beauty and wonder of the pristine night sky. The exhibit is open to all for free, perfect for capturing picture-perfect holiday memories.

In the following weeks, SM Aura Premier makes the season more unforgettable with familyfilled events, such as Santa meet and greet, and Letters to Santa workshop on December 9 and 16, respectively; chorale performances on December 8 and 15; and other musical acts on December 14, 21 and 23.

Everyone is welcome to experience this oneof-a-kind adventure into the sparkling wild at SM Aura Premier.

JOINT FORCES Ilocos Norte Gov. Imee Marcos joins Davao City Mayor Sara Duterte-Carpio and Lakas-Christian Muslim Democrats Party President Martin Romualdez for the signing of an alliance agreement at the Tacloban Astrodome on November 7. Duterte-Carpio’s Hugpong ng Pagbabago joined forces with Romualdez’s Lakas and the Leyte-based partylist group Tingog Sinirangan.

ATENEO SCHOOL OF GOVERNMENT’S FEDERALISM FORUM RUNS IN BAGUIO ON NOVEMBER 17

T

HE Ateneo School of Government (Asog), through the Ateneo Policy Center and in partnership with the Brotherhood of Christian Businessmen and Professionals (BCBP), presents a nationwide series of discussions, titled “A Forum on the Economic, Social, and Political Viability of Federalism in the Philippines”. After initial stops in Naga, Iloilo, and Cebu, this Federalism roadshow will make its way to Baguio on November 17 from 8 a.m. to 12 noon at Saint Louis University Center for Culture and the Arts.

The discussions will feature prominent experts on decentralization and federalism, and dive into questions

such as how federalism is linked to decentralization; the different models of federalism and which model best fits the Philippines; the risks and opportunities of adopting federalism in the country; and how federalism can build social cohesion and a better economy for the Philippines.

Aside from raising greater public awareness on the proposed shift to Federalism, the Asog hopes that the discussions can also help generate new ideas and empirical evidence that can help policymakers and other stakeholders with their review of the proposed shift to Federalism.

To register for or find out more about Asog’s Federalism roadshow, e-mail at svalenzuela@ateneo.edu.

P.A. PROPERTIES SETS FORTH HOUSING COMMUNITIES WITH OSAKA-BASED ESTATE DEVELOPER

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EVELOPMENT plans are moving forward for the latest residential communities to rise in Dasmarinas City, Cavite; and Lipa City, Batangas, with the signing of the second and third joint venture (JV) agreements between PA Alvarez Properties and Development Corp.

(PA Properties), a Laguna-based property developer; and Osaka-based Hankyu Hanshin Properties Corp. (HHPC).

Last December the partnership broke ground for Idesia Dasmariñas Phase 1, an 11-hectare masterplanned community in Dasmariñas, Cavite.

This announcement marks the expansion of Idesia Dasmariñas into a sprawling mixed-used development that would include areas for commercial and residential units along with public amenities, such as green open spaces, jogging paths, biking trails, and sports and recreation facilities—practically all the comfort and convenience of modern living. The ultimate goal of the partnership is to offer a community designed to the highest standards, where people would truly enjoy living in.

The new JV agreements are part of the five-year plan of HHPC to launch 2 to 3 projects every year with PA Properties up to year 2023. The second JV agreement, in particular, covers the development of a 26-hectare property into a residential and commercial township.

Idesia Dasmariñas will be connected by a bridge and access road to and from Aguinaldo Highway to Governor’s Drive, providing relief to that congested intersection of Dasmariñas, Cavite.

Taking advantage of the strong demand for housing, the third JV agreement will launch Idesia Lipa, a 17-hectare mixed-use development in Barangay Inosluban by June 2019. It will include 16 hectares devoted for residential development of 1,144 housing units and 0.9-hectare of commercial area.

The partnership believes that the projects have the essential ingredients for a successful JV mixed-use development. Moreover, the JV’s location strategy focuses on sites in mature submarkets benefiting from expanding infrastructure and stable economic growth, as well as a significant growing, unfulfilled demand for housing in promising neighborhoods.

Says Masahiko Toda, Hankyu Hanshin Properties overseas business division general manager, on the part of HHPC, “We are excited to continue our partnership with PA Properties in this endeavor. We have been closely watching the Philippine residential market for quite some time, and are pleased to bring the experience we have acquired in developing high-quality houses across Japan, to this venture.”

In photo are (from left) Peter Jude T. Alvarez, board member, PA Properties; John G. Lu, president, PA Properties; Elrey T. Ramos, board member, PA Properties; Romarico T. Alvarez, chairman of the board, PA Properties; Kazumasa Ohchi, senior general manager, HHPC; Tsuneo Wakabayashi, president, HHPC; Toda; and Yusuke Kusu, executive vice president, HHPC.

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EOUL, South Korea—The Garlic Girls, South Korea’s hugely popular Olympic silver medalist curlers, accused their coaches Thursday of ruining the team with abusive treatment in a dispute that has spoiled one of the year’s feel-good sports stories.

The women’s claims, if confirmed, suggest a familiar tale of abuse, corruption and nepotism that has regularly marred South Korea’s highly hierarchical elite sports scene. Men often run South Korean sports efforts, and while the team’s head coach is a woman, men in her family, including her father, a former leading figure in South Korean curling, play a prominent part in the team’s accusations of abuse.

“We can no longer work with a coaching staff that is trying to divide the team,” Kim Seon-yeong said in a glum news conference in Seoul. The players also accused the coaching staff of skipping training sessions, holding back prize money and trying to force a married member off the team.

“We need a coaching staff that can train and lead us properly. We want to continue our curling careers and aim for bigger goals at the Beijing Olympics,” Kim said.

The news conference came a day after South Korea’s Sports Ministry and National Olympic Committee announced a joint investigation into allegations that became public after the athletes sent a letter outlining their complaints to sports authorities last week.

The five-member women’s curling team became an overnight sensation after their improbable silver-medal run in February’s Winter Olympics in Pyeongchang, South Korea. They enthralled a country that barely recognized curling before they made their run and became soughtafter spokeswomen in commercials. Their nickname is a nod to the famous garlic produced in their hometown in Uiseong, in southern South Korea, where they met and began playing together as teenagers.

In their letter to the Korean Sport and Olympic Committee last week, Kim Eun-jung, Kim Seon-yeong, Kim Cho-hee, and sisters Kim Yeong-ae and Kim Yeong-mi accused former Korean Curling Federation Vice President Pim Kyung-doo of verbal abuse and team coaches of giving unreasonable orders and subjecting their lives to excessive control. In Thursday’s news conference, the curlers said coaches instructed them what to say in interviews and closely monitored their private lives after training hours, scolding them if they met with athletes from rival teams. Letters and presents sent by fans “were already ripped open” before they reached the curlers, Kim Seon-yeong said.

“We can’t understand why the head coach had to rip open and check the presents and letters sent to individuals before they reach the athlete,” she said.

The curlers said the coaches withheld prize money and tried to sideline the married captain Kim Eun-jung after learning of her plans to start a family. They said the coaches also tried to force Kim Cho-hee off the team ahead of the Olympics to open a spot for head coach Kim Min-jung to participate as an athlete; they also said they had to endure a tirade from Kim Kyung-doo after they decided to stick with their teammate.

Kim Kyung-doo and his family had extensive control over the team with his daughter, Kim Min-jung, being the head coach and his son-in-law, Jang Ban-seok, the mixed doubles coach. The curlers organized the news conference after the coaching staff publicly denied the accusations.

“We had thought we could go together with that family, but after going through the Olympics, it became clear to us they were a family that cared only about themselves,” Kim Eun-jung said in the news conference.

“They don’t want the athletes to grow and get better....

They don’t want the athletes to become bigger than the organization.”

Jang denied funds were withheld from the athletes, saying the team had agreed prize money would be spent on overseas training and competitions, but Kim Eun-jung said the curlers were kept in the dark about how the money was used.

“We were already receiving [state] training funds as members of the national team, and we couldn’t understand why the prize money was not being distributed to us,” she said.

The Associated Press

By Kim Tong-hyung

MEMBERS of the South Korean Olympic women’s curling team listen to questions during a press conference in Seoul on Thursday. AP

twoyear Grand Slam title drought by winning Wimbledon in July before collecting his 14th major trophy at the US Open.

Cilic ended a four-match losing streak at the O2 Arena as he

Zverev, 6-4, 6-1, on Wednesday for his second straight victory of the tournament.

“Unfortunately, today hasn’t been great in terms of that [illness],” Djokovic said. “Somehow I managed to gather the strength when I needed it.”

Djokovic’s passage to an eighth semifinal at the season-ending tournament was confirmed when Marin Cilic beat John Isner, 6-7 (2), 6-3 6-4, in the late match.

The five-time champion saved two break points at 4-4 in the opening set and then broke Zverev in the following game to take the lead.

Zverev won only one more game.

“Maybe he was a little bit sick or something like that,” Zverev said. “But he still played like he felt at his absolute best. That’s kind of all that matters.”

Zverev’s earlier win over Cilic in the round-robin means both those players still have a chance of reaching the semifinals for the first time.

The top-ranked Djokovic and thirdseeded Zverev engaged in a number of thrilling early exchanges, but it wasn’t until the ninth game that Zverev earned the first break point of the match, aided by a friendly net cord. Djokovic saved it with a service winner but then doublefaulted to give the 21-year-old another opportunity.

Zverev played a defensive forehand slice to set up a chance to finish the point with a backhand lob, but his attempt drifted just wide and Djokovic held on for 5-4.

Zverev gave Djokovic a set point with a spate of errors in the next game, and conceded it with a double-fault.

“If I made the break, it goes the other direction a little bit,” Zverev said.

In the second set, Djokovic broke for a 3-1 lead and then lost just one more

came from behind to beat Isner, the hardserving American who is making his debut at the tournament. It was the first match all week that went to three sets.

“The first set was extremely tough and John played a great tiebreak,” Cilic said. “I had to stay patient, stay focused, and I played really great tennis in the second and third set.”

Isner was wearing the initials “KM” on his shoes as a tribute to his close friend and former fitness coach, Kyle Morgan, who died earlier this week.

“It’s difficult, very difficult,” Isner said. “Got to go out there and play.” AP

point as he remained on track to equal Roger Federer’s six titles at the tournament.

Victory in London would cap a remarkable season for Djokovic, who has already secured the year-end No. 1 ranking after dropping as low as No. 22 in June.

The 31-year-old Djokovic ended a

ONDON— Novak Djokovic overcame an illness—and Alexander Zverev—to advance to the last four of the Association of Tennis Professionals Finals.

Using a tissue to blow his nose between points, Djokovic was able to beat

Djokovic blows nose, foe away in ATP Finals L

| Friday, November 16, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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BusinessMirror

GARLIC Sports GIRLS SLAM ABUSIVE COACHES NOVAK DJOKOVIC overcomes illness to progress at the Association of Tennis Professionals Finals. AP

OS ANGELES—A floating jumper, a foul and a free throw in the fourth quarter of a tight game.

With a gorgeous three-point play, the King jumped over the Big Dipper.

LeBron James’s inimitable presence has already been felt in his first few weeks in Hollywood. His most impressive game yet for the Lakers included a bit of history when he passed Wilt Chamberlain on the National Basketball Association’s (NBA) career scoring list.

The superstar with no shortage of historic achievements was more excited about leading his surging new team to yet another win.

James had a season-high 44 points, 10 rebounds and nine assists, roaring past Chamberlain for fifth place on the scoring chart and leading the Lakers to a 126-117 victory over the Portland Trail Blazers on Wednesday night.

James scored 28 points in the second half and vaulted past Chamberlain’s 31,419 points on that three-point play with 3:55 to go. LeBron finished a memorable night with 31,425 points, and fell just short of his 75th triple-double during his most impressive performance since joining the Lakers.

Afterward, James praised Chamberlain as “One of the most dominant forces we ever had in our game, along with Shaq. One of the greatest Lakers to ever play the game. A 100-point scorer.

One of the greatest scorer-rebounders to ever play this game.”

James already has moved from seventh to fifth on the career scoring list during his first 14 games with Los Angeles, passing Dirk Nowitzki and Chamberlain. Five of the top six scorers in NBA history have suited up for the Lakers—including Chamberlain, whose No. 13 hangs high above the Staples Center court.

James hit his first five three-pointers and finished 13 of 19 from the field, reaching his latest milestone during a dominant performance that had chants of “M-V-P!” raining down from the Staples Center crowd.

But the kid from Akron will never let it get to his head.

In fact, he will

THE Lakers’ LeBron James shoots against the Trail Blazers’ Jusuf Nurkic during the second half of their game on Wednesday. AP

donate his jersey and the game ball to his I Promise School back in Ohio.

“Anytime my name is mentioned with some of the greats to play this game, I always think back to my hometown, where I come from, how far I’ve come,” James said.

Before the Lakers embark on a three-game trip that includes his return to Cleveland on November 21, James showed his new home fans what they can expect in big moments—as if any basketball fan with a pulse didn’t already know. He scored 16 points in the third quarter and 12 in the fourth, never allowing Portland to make a final run during the Lakers’ fourth consecutive win.

“We did a lot of nice things, but we did a lot of sloppy things tonight,” Coach Luke Walton said. “A lot of soft defense.”

There was bad news on a triumphant night, too: After the game, Walton revealed that Rajon Rondo broke his right hand, apparently while making a steal in the fourth quarter. The veteran point guard will be sidelined for at least a few weeks, and starter Lonzo Ball’s so-far moderate workload is likely to increase.

“It’s tough,” James said. “He’s one of our captains, one of our leaders. I know he’ll get right to it with his rehab, but it’s next man up.”

Damian Lillard had 31 points, 11 assists and eight rebounds, and CJ McCollum scored 23 in the Trail Blazers’ first road loss to the Lakers since February 22, 2013, ending a nine-game streak at Staples. Portland has lost two straight to the Lakers after winning 16 in a row.

“LeBron, it was a dominant performance,” Portland Coach Terry Stotts said. “[Scoring] 44 points on 19 shots, that doesn’t happen too often.

When he’s hitting his threes and putting his head down, he’s tough to stop.”

JaVale McGee scored 20 points and Brandon Ingram added 17 in the Lakers’ sixth win in seven games. After a slow start, Los Angeles (86) is already finding its groove in its first season with James and his fellow veterans joining a young core. Los Angeles is off to its best start since the 2011-12 season. AP

KING PASSES BIG DIPPER L

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Business

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SMART WINS 5-SETTER S

MART eked out a 26-16, 18-25, 25-20, 23-25, 15-11 victory over Cocolife to get back on the winning track in the Philippine Superliga All-Filipino Conference on Thursday at the Filoil Flying V Centre.

Gretchel Soltones played like the grizzled veteran that she is down the stretch to power the Giga Hitters to their second win in four games in the women’s club tourney bankrolled by Isuzu, Sogo, Asics, Mikasa, Mueller, UCPB Gen and Bizooku with Genius Sports as technical provider.

Soltones, the former Most Valuable Player in the National Collegiate Athletic Association, delivered 17 points laced with 16 digs and 25 excellent receptions for Smart, which also drew powerful performance from Czarina Carandang, Jerrili Malabanan and Joyce Sta. Rita.

Malabanan tallied 13 hits, while Malabanan and Sta. Rita delivered 10 markers apiece in this battle that also has ESPN5, Hyper HD and Aksyon TV as broadcast partners.

“It was tough. Coming from two losses, it was really hard to regain our confidence,” said Sta. Rita following the grueling battle that lasted for two hours and 21 minutes featuring thrilling rallies, superb blocks and a lot of on-court hustles from both squads.

“Not everyone knows how difficult it was for the team. But we’re happy that we finally get another win,” she added.

After finishing at the bottom of the Grand Prix, the re-tooled Smart opened its bid with a victory over Sta. Lucia before bowing to powerhouse squads Petron and Foton in straight sets.

Against the young Asset Managers, the Giga Hitters simply refused to lose.

Soltones took the cudgels in the fifth set, as the Giga Hitters raced to an 8-4 lead en route to the match point, 14-11.

“In the fifth set, we told ourselves that we can’t afford to lose the game, we have to win the game to redeem ourselves and to regain our confidence back,” said playmaker Jasmine Nabor, who accounted for 24 of the Giga Hitters’ 26 excellent sets.

Filipino-American spiker Kalei Mau put on a show, finishing with 25 points, 15 digs and 27 excellent receptions for Cocolife, which remains winless in four outings.

Shannen Palec and Justine Tiu helped Mau carry the scoring load as they combined for 22 points.

SMART’S Joyce Sta. Rita and Jasmina Narbor protect the net against Cocolife’s Shang Berte.

HIGHWAY HILLS FIVE UNSCATHED

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NDEFEATED Highway Hills Integrated School clobbered Notre Dame of Greater Manila, 38-20, recently to march to its fourth straight triumph for the Group C lead of the 18-Under Developmental Division of the 31st Women’s Basketball League (WBL).

Highway Hills pushed the still winless Notre Dame to its third straight defeat in this tournament organized by the Basketball Efficiency and Scientific Training Center and sponsored by Milo and supported by Rain or Shine, Chris Sports and SKLZ.

Miriam College, meanwhile, notched its second straight win at the expense of winless St. Theresa’s College (0-2), 19-10, to match St. Scholastica Academy-Marikina’s 2-0 won-lost card on top of Group A. In the 18-Under Competitive Division, Casimiro Ynares Sr. Memorial National High School routed Our Lady of Mercy School (0-3), 31-3, for its third win in four games to stay behind a still-clean Chiang Kai Shek College (3-0) in Group A.

Challenging week up in spikefest Season 2

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ETROGAZZ, Pocari-Air Force and Tacloban brace for the challenging final week of the double round eliminations as they chase the last seat in the semifinals of the Premier Volleyball League Season 2 Open Conference.

Although the Angels have the inside track to the coveted slot with a 6-5 win-loss card, the Lady Warriors (5-7) and the Fighting Warays go flat out to sweep their remaining matches and hope the fourth-running PetroGazz side won’t go over seven wins to force a playoff.

PetroGazz has three games left in its schedule—two against semifinalists Ateneo and Creamline and the other versus Adamson University-Akari—while Pocari has two light assignments in Adamson University and Iriga-Navy, both ousted teams.

Tacloban, on the other hand, has Adamson University and BanKo-Perlas as its last two opponents, making the last four eliminations playdates worth watching.

The Warays and Angels try to fuel their respective drives with victories against the Lady Falcons and the Lady Eagles, respectively, on Saturday with Creamline and BanKo-Perlas priming up for the semifinals in another league out-of-sortie offering in Cagayan de Oro City.

Pocari, meanwhile, tries to stay in the hunt against Iriga on Sunday, with the Angels expected to get past the Lady Falcons in the other contest.

Ateneo (10-3), Creamline (9-2) and BanKo-Perlas (9-3) have secured the first three semis seats but all three are still expected to go for victories to bring that winning feeling to the Final Four.

BanKo-Perlas bounced back from a stinging shutout loss to PetroGazz with a four-set romp over Pocari-Air Force, 27-25, 19-25, 25-16, 25-19, to clinch the second semifinal berth at the Filoil Flying V Centre in San Juan last night.

The Perlas Spikers overcame a six-point deficit to steal the opening frame then dominated the erratic Lady Warriors in the last two sets to notch their ninth victory against three defeats and join the Ateneo-Motolite Lady Eagles (10-3) in the Final Four of the season-ending conference of the league organized

by Sports Vision.

The loss sent Pocari-Air Force reeling to joint fifth with Tacloban at 5-7, now a game and a half behind fourth-running PetroGazz, which crushed BanKo, 25-11, 25-23, 25-18, to stay at No. 4 at 6-5, in their spirited chase for the last semis seat.

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Friday, November 16, 2018

MAPUA GRABS JUNIORS TITLE

Gonzalez, Albo bag badminton crowns

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NTHEA GONZALEZ and Jewel Albo lived up to their billing as top seeds by bagging multiple gold medals in the MVP National Juniors Badminton Championships recently at the Powersmash Badminton Center in Makati City.

Gonzalez went home with three gold medals while Albo snatched two gold medals to underscore their potential in the international arena.

Gonzalez blasted Karyll Rio, 21-10, 21-15, to win the Under-17 girls singles title and teamed up with Dana Navarro in beating Christine Dorega and Clara Ignacio, 18-21, 21-16, 21-16, to rule the Under-17 doubles crown.

Her partnership with Albo netted the mixed doubles gold medal at the expense of Viana Antonio and Zed Monterubio, 15-21, 21-14, 21-15.

Albo topped the Under-17 division after beating Lyrden Laborte, 21-15, 19-21, 21-16, for his other

gold medal in the five-day competitions.

Albo and Guillian Rodriguez succumbed to the pair of Johnyl Mialda and Nestojan Tapales, 11-21, 15-21, in the boys’ doubles final.

Rey Angelo Pedron and Christian Dorega topped the U15 and U13 divisions, respectively, while Wijel Albo struck gold in the U11 and Jr Pullon in the U9 group.

Pedron and Allen Penute stunned the highly favored pair of Raydric Abinales and Ashton Prieto, 15-21, 21-16, 21-18, to win the boys’ U15 doubles crown. Ryan Bernal and Dorega, on the other hand, won the boys doubles also in the U15 class.

Rio vented her ire on Patricia de Leon to win the U15 tiara, 11-21, 21-15, 21-10, joining Andrea Hernandez and Rosheila Quierez—who bagged gold medals in the U15 and U13 divisions, respectively—in the honor roll.

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APUA edged La SalleGreenhills, 77-74, on Thursday to join San Beda as the league’s most successful high-school basketball team in the National Collegiate Athletic Association.

But the Red Robins had to teeter before hoisting the Season 94 trophy at the Mall of Asia Arena in Pasay City.

Paolo Hernandez exploded with a careerhigh 33 points he laced with seven triples, while Dan Arches uncorked 22, including all of his team’s six fourth-quarter points, to power the Red Robins to a 2-1 series triumph and their 22nd crown that tied them with the Red Cubs in terms of championships won.

“They really stepped up in this game,” said Mapua Coach Randy Alcantara of the prolific Hernandez-Arches duo.

The Junior Blazers knotted the count and looked to force overtime after Joshua David buried a three-pointer with half a second to go.

Cuenca, Dee, Pascual head big cast of celebrities riding with McEwan

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AKE CUENCA, a regular triathlon campaigner, and fellow Stag Magic artists Enchong Dee and Iñigo Pascual take time out from their hectic shoot schedules to lead the Sun Life Cycle PH at Bonifacio Global City in Taguig on Saturday.

SunPiology founder Piolo Pascual and triathlete Matteo Guidicelli, along with Yong Muhajil, Janus del Prado, Sarah Carlos, Kisses Delavin, Ysabel Ortega and Tommy Esguerra are also seeing action in the noncompetitive event put up by Sunrise Events Inc. (SEI) to promote a healthy lifestyle through cycling.

The sport is a healthy, low-impact exercise, which can be enjoyed by children and adults alike.

It improves not only one’s mental well-being but also promotes weight loss and cuts heart disease and cancer risk, among others.

To spice up the event, organizers will raffle off a brand new 2019 Trek Marlin 5 bike among participants in the Kids Ride, Short Ride (20K) and Long Ride (40K) categories around Taguig, Makati, Manila and Pasay.

The event, also held to promote family bonding, will be launched at SEDA BGC Hotel on Friday to be graced by three-time Tour de France green jersey winner Robbie McEwen and SEI founder Wilfred Uytengsu.

The 40-kilometer ride has lured over 600 riders, while the 20-km and kids categories have drawn 392 and 100 participants, respectively. Gun start for the 40-km ride is at 6 a.m. to be followed by the 20-km

NBA airs live on 2 Solar channels

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OLAR Entertainment—through its channels Basketball TV (BTV) and NBA Premium TV— again guarantees the most comprehensive National Basketball Association coverage by broadcasting the most number of games combined with daily magazine shows and other NBA specials that are exclusive on both channels.

BTV and NBA Premium TV started airing live games every morning last month and primetime replays also daily. From Regular season to the Finals, around 600 games will be aired combined on both channels.

BTV viewers will enjoy at least one live game every day, with primetime replay at 8 p.m. Games aired on BTV will be complemented by NBA magazine shows—NBA Action, NBA Inside Stuff, NBA Gametime, The Starters, Inside the NBA and NBA Open Court.

Through these programs, fans will be updated with every news and updates surrounding the association.

Besides the NBA programming, BTV also specializes in locally produced on-air and digital segments that are updated weekly consisting of events, highlights, insights and program updates.

NBA Premium TV is the first HD sports channel in the Philippines that is custom-made for the true NBA fan. NBA Premium offers at least two live games every day and can go to a maximum of four games.

Fans without cable subscription or are looking for an alternative to have both channels could purchase Easy TV.

ride at 6:20 a.m. and the kids ride at 8:30 a.m. Also on tap are the tricycle rides for kids at 9:45 a.m.

The event also serves as part of the SunPIOLOgy, which will bring its run leg to four Asian cities while holding three other sports to highlight its milestone 10th year.

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The iconic slogan of the crowd favorites was personified in Game Three as the Gin Kings rallied from 18 points down to steal the game in a nail-biting finish.

Up by a slim 103-101 advantage, Scottie Thompson and LA Tenorio each converted baskets in the last 60 seconds to narrowly escape their foes.

Brownlee was a monster with 46 points, 19 rebounds and five points to give his squad enough scoring power and overwhelm his counterpart Romeo Travis.

Thompson finished with 15 points, seven boards and five assists, while Tenorio came through with 14 points and five rebounds from a hard-earned 5-of-14 shooting from the field.

“We are happy to be alive and kicking,” Cone said with a sigh of relief. “But we have to keep moving forward.”

The most successful coach in the league credited his boys’ resiliency and clutch plays that paved their victory.

“It was great plays from the guys,” he said.

KIDS SAVOR BARÇA EXPERIENCE

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ILO welcomed the return of the 10 young athletes who took part in a once-in-a-lifetime, world-class, football training in Barcelona, Spain.

As part of Milo and FC Barcelona’s (FCB) joint initiative, the team completed a prestigious program where they trained, learned and played football in a global camp held at the FCB Youth Academy from November 4 to 12.

The team is composed of Lien Dale Manuel (Vicente Lim Elementary School), Alexander David Villarosa (University of San Jose-Recoletos), Breindel Medina (Ateneo de Davao Junior High School), Heaven Andrei Teodosio (Ilaya Barangka Integrated

MILO Philippines Consumer Marketing Manager Robbie de Vera (left, back row), poses with the players—(front row, from left) Dylan Theodore Wong, Alexander David Villarosa, Breindel Medina, Jelena Loren Ignacio Soon and Lien Dale Manuel. With them are (back row, from left) Ignite Sports Inc. Assistant Organizer Michael Reyes, Daniel Isaac Cagaanan, Carlo Antonio Bongocan, Juan Pablo Unlay, Heaven Andrei Teodosio and Milo Sports Executive Lester Castillo.

But officials nullified the shot after a video review that showed the ball was still in David’s hands when the final buzzer sounded.

That triggered a frantic Mapua celebration.

After the game, Alcantara announced it was his final game as coach of the Red Robins after 11 seasons. He was tasked take over Atoy Co as coach of the Cardinals.

“It was memorable because this will be my last game as a high-school coach,” said Alcantara, who has two titles in four finals appearances.

Joel Cagulangan, the league Most Valuable Player, hurt his ankle early in the game and finished with only 10 points.

But the Junior Blazers didn’t go out without a fight. They clawed back from 16 points down late in the third period to force a 74-all count with Inand Fornillos’s basket with less than two minutes remaining.

But Arches hit a free throw and a basket, and Mapua made key stops to seal the title.

JUSTIN BROWNLEE leaps high for a basket as Ginebra San Miguel teammate Japeth Aguilar distracts the Magnolia defense.

GINEBRA EYES EQUALIZER ITH the momentum quickly shifting to Barangay Ginebra’s side, the Gin Kings gun for the series equalizer against the Magnolia Hotshots in Game Four of the best-of-five semifinals of the Philippine Basketball Association Governors’ Cup on Friday at Ynares Sports Center in Antipolo City.

Behind the beastly performance of import Justin Brownlee, the Gin Kings refused to let go of their title-retention campaign as they scored a 107-103 win last Wednesday.

The victory was just the initial step of pulling off a herculean task of winning three straight games to return to the Finals.

Game time is 7 p.m., and Barangay Ginebra Head Coach Tim Cone remains confident that his wards could relive their “never-say-die” mantra in the team’s remaining do-or-die matches.

“They beat us twice, we can beat them twice,” Cone said.

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School of Mandaluyong City), Tristan Ybanez (Sacred Heart School Ateneo de Cebu), Juan Pablo Unlay (Ateneo de Manila), Dylan Theodore O. Wong (Keys School Manila), Carlo Antonio Bongocan (Rosevale School), Jelena Loren Soon (Singapore School Cebu) and Daniel Isaac Cagaanan (Koronadal Central Elementary School I).

Each athlete was carefully selected by an expert panel composed of executives and coaches from Milo, Cebu Football Association and FCB Youth Academy in Cebu last September.

“We are delighted to fulfill the dreams of these 10 talented football players who have not only shown us the right skills but also embody the values that Milo and FCB espouse, namely humility, effort, ambition, respect and teamwork,” Milo Consumer Marketing Manager Robbie de Vera said.

The junior booters were immersed in a series of training sessions with FC Barcelona Youth Academy’s coaches, both on the pitch at La Masia’s home Ciutat Esportivo, FCB’s youth academy and in the classroom at Camp Nou. They were joined by delegates from Chile, Colombia, Jamaica, Malaysia, Maldives, South Africa, Trinidad and Tobago, and Venezuela.

The training sessions are based on the Barça methodology that includes a creative passing and attacking brand of football while underscoring the importance of positive values. The young footballers got to apply their learnings in a friendly match with the young players of Fundacion Marcet Football Academy.

The locals stepped up for the Hotshots with Marc Barroca and Paul Lee scoring in 19 and 17 points, respectively. Travis was almost silent all night with 12 points on a 5-of-17 shooting.

Ramon Rafael Bonilla

INTERNATIONAL REGATTA CHAMP Standard Insurance Centennial

Sailing Team emerges as overall champion in the top IRC A Class of the recent 12th China Cup International Regatta in Shenzhen, China. Skipper and Standard Insurance Group Chairman Judes Echauz (left) raises the trophy while team manager Stephen Tan receives the Champagne Trophy from David Zhong (second from right), China Cup president. Looking on is Allan Balladares, co-skipper and Asia’s top match racer. The Standard InsurancePhilippine Sailing Association Team skippered by Emerson Villena also won the Asian Sailing Federation Far East 28R class in sweeping fashion. Both Standard Insurance sailing teams are back-to-back winners in Asia’s top regatta with more than 200 yachts competing. The championships had been dedicated to Philippine Sailing’s Secretary-General Donnie Altura, who recently passed away.

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Lord God

ORD God, we feel so special when we think that You are preparing a place in Heaven for us. To be considered Your children is overwhelming, as You have chosen us to be a part of Your family. We long to be in Your presence, laying our crown at Your feet and worshipping You forever. We are happy and grateful for Your mercy and love. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

SOMETHING LIKE LIFE: BUYING FROM THE ‘PALENGKE’ IS NOW JUST A TAP AWAY D3

Friday, November 16, 2018

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A ‘Beastly’ good time all over again RETURN ENGAGEMENT Oscar winner Eddie Redmayne reprises his role as Newt Scamander in Fantastic Beasts: The Crimes of Grindelwald.

© 2018 WBEI PUBLISHING RIGHTS©J.K.R. TM WBEI

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OW in Philippine theaters everywhere, Warner Bros. Pictures’s Fantastic Beasts: The Crimes of Grindelwald is the second of five all new adventures in the Wizarding World created by J.K. Rowling.

At the end of the first film, the powerful Dark wizard Gellert Grindelwald (Johnny Depp) was captured by Macusa (Magical Congress of the United States of America), with the help of Newt Scamander (Eddie Redmayne). But, making good on his threat, Grindelwald escaped custody and has set about gathering followers, most unsuspecting of his true agenda: to raise pure-blood wizards up to rule over all non-magical beings.

In an effort to thwart Grindelwald’s plans, Albus Dumbledore (Jude Law) enlists Newt, his former student, who agrees to help, unaware of the dangers that lie ahead. Lines are drawn as love and loyalty are tested, even among the truest friends and family, in an

increasingly divided wizarding world.

Fantastic Beasts: The Crimes of Grindelwald features an ensemble cast led by Oscar winner Eddie Redmayne, Katherine Waterston, Dan Fogler, Alison Sudol, Ezra Miller, Zoë Kravitz, Callum Turner, Claudia Kim, William Nadylam, Kevin Guthrie, Poppy CorbyTuech and Brontis Jodorowsky, with two-time Oscar nominee Jude Law and three-time Oscar nominee Johnny Depp.

The film reunites director David Yates, screenwriter/producer J.K. Rowling, and producers David Heyman, Steve Kloves and Lionel Wigram, all of whom had collaborated on Fantastic Beasts and Where to Find Them.

Two years ago, Fantastic Beasts and Where to Find Them transported audiences back to the wizarding world that has captured their hearts and ignited their imaginations. Set in America in the mid-1920s, the film enticed fans with just a few fleeting allusions

to the Harry Potter stories: a brief mention that Magizoologist Newt Scamander was kicked out of Hogwarts; that his only defender had been a certain Professor Albus Dumbledore; and the powerful Dark wizard Gellert Grindelwald, after wreaking havoc in Europe, had vanished.

As the story continues in the second adventure, Fantastic Beasts: The Crimes of Grindelwald, those threads become even more intertwined.

Screenwriter and producer J.K. Rowling offers, “Within the Fantastic Beasts franchise, I am telling a story that is only hinted at in the Harry Potter books— the rise of Grindelwald, who profoundly threatened both the wizarding and non-wizarding worlds, and his antagonist, Dumbledore, who, of course, is a key figure in the Potter stories. Grindelwald is first mentioned in Harry Potter and the Philosopher’s Stone, so he was there from the beginning, though he was more of a mysterious background character. You know he

must have been important to figure so prominently in Dumbledore’s own history, but it is only when you reach the end of the Potter series that you find out just how important he was...and you might also intuit that there must be much more to tell. I think this was the story I was most interested in revisiting because it’s so crucial to understanding Dumbledore, who is my favorite character,” she acknowledges.

At the helm of his sixth Wizarding World adventure, director David Yates recalls, “When Jo [Rowling] sent me the new script, my first impression was how different it felt to the first film we had made.

This story is more layered and more intricate, with new character strands developing, and it’s also a lot darker. But what really blew me away was how she created this feeling of an emotional thriller, with twists and turns I never saw coming. Jo is constantly

CONTINUED ON D4

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Friday, November 16, 2018

Society BusinessMirror

www.businessmirror.com.ph

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kimberly J. Brown, 34; Maggie Gyllenhaal, 41; Martha Plimpton, 48; Marg Helgenberger, 60.

HAPPY BIRTHDAY: Build a strong base. How you handle the people you live with will make a difference to how well you do this year. If you are helpful and show interest in what others do, you will gain the respect and response you need to reach your goals. Stick to the truth to avoid having someone fact-check you. Your lucky numbers are 2, 13, 17, 24, 37, 43, 49.

a FROM left: Unicef’s Dennis Cruz and Michelle Borromeo, Bobby Dy, Tukod Foundation’s Denise Mañosa, Founder and Managing Director of Steps Dance Studio Sofia ZobelElizalde, Head of Ayala Malls Group Yeng Tupaz, Gary Valenciano, Shining Light Foundation’s Angeli Pangilinan-Valenciano, Chairman Emeritus of Ayala Corp. Don Jaime Zobel de Ayala, Bambi Mañosa-Tanjutco, Ayala Malls Deputy Head Mariana Zobel de Ayala and Panasonic Vice President Masaru Toyota

Yuletide wonder everywhere W HAT makes the Filipino Christmas unique? Let us count the ways. The spirit of giving and merrymaking, abundant and alive throughout the year, becomes even more exciting when the holidays come around.

Christmas carols accompany our gift shopping, lanterns and décor light up the streets, and a palpable optimism fills the air. It may not be white, but our Christmases sure are merry and bright.

This year, Ayala Malls takes Filipino Christmas spirit to amazing heights with its annual festivities. A one-stop Christmas destination, Ayala Malls has been known for spreading holiday cheer through dazzling lights and displays, fun activities and, of course, an unbeatable shopping experience. Highlighting everything that is great about the Filipino Christmas, Ayala Malls invites everyone to awaken amazing experiences this season and partake in the spirit of giving and fun.

“As a nation, we have always looked forward to Christmas. At the heart of the Filipino Christmas is love for family, embracing traditions and celebrating togetherness—all these you will feel and experience in different shapes and forms from each and all of our Ayala Malls. We are excited to freshen it up for the thousands of families who spend the season with us, and we invite everyone to ‘Awaken Amazing Christmas Wonder’ at Ayala Malls,” said Jennylle Tupaz, head of Ayala Malls Group, during the launch of its holiday calendar. The event drew some

ARIES (March 21-April 19): Don’t fear change. Look at the possibilities and put your skills and talents to work. Trust in your instincts and ability to get things done and head in the path of least resistance. Set a goal and sprint. HHH

b

TAURUS (April 20-May 20): Consider what will help you get what you want, and concentrate on that achievement. You’ll be acknowledged by your peers and praised by higherups. Be humble and gracious; much more will come your way. Positive change is heading your way. HHHH

c

GEMINI (May 21-June 20): Stick to the truth and dig deep to get to the bottom of situations involving other people. Someone you work with may have a hidden agenda. Be careful how much information you share with anyone who may try to compete with you. HH

d

CANCER (June 21-July 22): Express your thoughts and feelings, and you’ll surprise others with your insight and ideas. Take the initiative and do your best to make your dreams come true. An unusual opportunity should be looked at carefully before you proceed. HHHHH

e

LEO (July 23-Aug. 22): Talk is cheap.

When sharing information, ask questions and take notes. It’s important to have something to back you up if someone decides to renege or back out of a verbal agreement. Personal improvements at home and at work are doable. HHH

f

VIRGO (Aug. 23-Sept. 22): Get out and explore. New experiences will give you something to think about. A chance to try something unique will make you question your current personal situation. Someone close to you may withhold his or her feelings. HHH

GARY VALENCIANO, Shining Light Foundation’s Angeli Pangilinan-Valenciano, Paolo Valenciano and Ayala Malls Consumer Engagement Marketing Manager Tin Enriquez-Yabao.

prominent personalities across industries.

In the spirit of reigniting the tradition of song and playfulness, Ayala Malls hosts “Awit at Laro,” a project that celebrates music and culture by reintroducing traditional Filipino games to a new generation of youth through music and the arts. The project, the brainchild of Gary Valenciano and Bambi Mañosa, aims to raise funds for Unicef, the Tukod Foundation and the Shining Light Foundation.

The Awit at Laro album features 10 reimagined traditional songs and 10 brand-new songs about

Filipino games that we’ve loved and perhaps lost in childhood—this Christmas will be the time to experience them again and share them with the younger ones through the uplifting tunes in collaboration with top Filipino composers and singers. There will also be an Awit at Laro concert tour, which will visit the company’s 21 malls throughout the country during Christmas season, spreading the joy of music across the Philippines.

Ayala Malls’s calendar of Yuletide events is available at www.ayalamalls.com.ph. n

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LIBRA (Sept. 23-Oct. 22): Go over what you have accomplished and consider what you’ve enjoyed doing most. You’ll come up with a plan that will help you put your strengths, as well as your desires, to good use. A positive change can be made. HHHH

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SCORPIO (Oct. 23-Nov. 21): Stick close to home and nurture the relationships that matter to you. Overreacting won’t help, but digging in and doing your part will. The truth will be necessary. Offer peace and love, and avoid arguments and isolation. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Trust only in what you know. Someone will use emotional tactics to manipulate a situation. Getting into an argument will only make matters worse. A physical outlet will do you good and help you stay in shape. HH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t shy away from what you believe and want to see happen. You may face opposition, but if you believe in someone or something, stand your ground and do your best to resolve matters without getting into a no-win situation. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Go over your personal documentation, contracts and medical records to ensure everything is in order. Be leery of anyone who brags or makes statements that are broad or vague. Take time to enjoy.

Update your look and plan something romantic. HHH

l

PISCES (Feb. 19-March 20): Don’t feel you have to say something that you don’t mean in order to avoid conflict. It’s better to remain silent than to offer a false impression. Do what you can, but don’t meddle in other people’s affairs. HHH PANASONIC General Manager for Trade Marketing Group Jiwoong Kim, Panasonic Vice President Masaru Toyota and Panasonic Technical Adviser Kyohei Morita

CARLA BARRETTO and Justin Quirino

BIRTHDAY BABY: You are creative, talkative and persuasive.

You are engaging and motivated.

GELO and Kat Mañosa

‘tell me a story’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Jump when frightened, e.g.

6 Bridge positions 11 Solo in sci-fi 14 Elegant wall hanging 15 Flexible 16 Altar statement 17 Concrete crackers 19 Fleur-de-___ 20 Anvil site 21 Do ___ disturb 22 Classic “I’m Sorry” singer 23 Ball’s bearing?

27 Go nuts at the store 29 Human body molecule 30 Biblical birthright seller 32 Vanity case, way fancy 33 Grandfather clock point 34 College VIPs 36 Flies off the shelf 39 Stallion, earlier 41 Cuts corners?

43 1:00-2:00, e.g., on a schedule 44 Famous

6 It can lead to a landing 4 48 Frigid cap material 49 ___ and Loathing in Las Vegas 51 Eagle variety 52 Just get by (with “out”) 53 On the other hand 56 Any consumer 58 Alias relative 59 Potent finish?

60 “Velvet” suffix 61 Chapeau 62 Charles Bronson’s ex 68 Mighty animal 69 Betelgeuse’s constellation 70 Fake ID seeker 71 Kindly gentleman 72 Placed atop 73 Unnatural, as a play DOWN 1 British rule, to Indians 2 Historical time 3 Parenthesis formation 4 Bakery staples 5 Like a crucifix

6 Nightmare street 7 “Ready, ___...!”

8 Gregg specialist, cut 9 Flourished 10 Sonnet endings 11 People from the backwoods 12 French farewell 13 Prying without a bar (var.)

18 Surfaces 23 10/31 option 24 Pungent veggie 25 Prop for this theme 26 Indian flatbreads 28 Bemoans and regrets 31 Bring together 35 Cool bowling feat 37 Thinking John or acting Sondra 38 Beef bovine 40 Overly cute, to a Brit 42 Backslider, biblically 45 Some Arizona natives 47 Turns in coupons 50 Move to a warmer climate?

53 Laughter syllables

4 Striped African creature 5 55 Fired up a butt, e.g.

57 U-turn from 55-Down 63 Water closet, chap 64 Guesthouse relative 65 Biography snippet 66 Winter beverage, cut 67 Hang out on a line Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, November 16, 2018

D3

Buying from the ‘palengke’ is now just a tap away SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

I

DON’T know when I started enjoying going to the wet market. As a child, tagging along with my lola, or my Mama, I remember it as a disgusting smelly experience.

But I did somehow enjoy hearing my elders trade chitchat back and forth with their favorite market vendors or suki.

These were bonds forged over the years with other women (or men, in the case of butchers), and in a few cases, my elders got to know these market vendors even on a personal level, making inquiries about the latter’s children, or their spouses, like they were just our next-door neighbors or relatives.

As I got older, I learned to savor the sights, sounds and smells of the wet market. A visit to the palengke became a thrilling adventure for me, as I combed stalls trying to find the freshest seafood at the best prices. I enjoyed the psk-psking sound of clams shooting out water from the basin they were sitting in, learned to tell the difference between fresh or stale fish, and observed how the alimango (mud crabs) would struggle to claw their way out of the heavy black nets they were trapped in.

Aside from marveling at the array of seafood, meats, fruits and vegetables, I took pleasure in the interaction with the different vendors, some of whom have become my suki, haggling over the prices of my intended purchases, and trading opinions on the hottest issues of the day.

Then I found out honestbee had Farmers Market as a partner merchant. And I wondered, would going to the palengke via an app be as enjoyable an experience as buying the produce myself?

I first heard about honestbee from a colleague as we were discussing online marketing and retailing, and he said his wife was quite satisfied buying the family groceries through the app. As both of them work, honestbee, he said,

provided them the convenience of ordering needed items for their home from the grocery store (e.g., its first partner was Robinsons Supermarket, but now it also has S&R, Shopwise and Marketplace at Rustan’s on its list).

I’ve been using the app for close to three months. I first tried honestbee to order food from certain favorite restaurants when I’m too lazy to cook. Except for some minor hiccups like a restaurant bailing out on my order, the experience has been smoothsailing overall. It’s also a perfect way of discovering small new restaurants in my general vicinity, without me having to travel there by cab or Grab.

I recently got the chance to observe honestbee and how its “shopper bees” work at Farmers Market. Aling Ruby Naval, 52, one of the 10 shopper bees assigned to Farmers, took me around as I delighted in the variety of produce offered.

(Farmers Market may not have the cheapest prices, but it is one of the cleanest palengkes, and has the widest assortment of wet and dry goods. Even foreign Michelin-starred chefs like Elena Arzak have been enthralled with the various products on sale at Farmers.)

Aling Ruby says there are only a handful of market vendors tapped by honestbee to provide the best quality of meats, seafood and other goods for its discriminating clients.

Also, these chosen vendors are able to generate the official receipts honestbee needs for its own company tax reportorial requirements, unlike the handwritten type we normally accept from our own suki.

Aling Ruby also goes on to explain that “if the desired item is no longer available from the accredited vendor, we are allowed to shop from the non-accredited ones.” In such cases, she only has to photograph the handwritten receipt issued by the vendor and send it to the home office. (On a personal note, Aling Ruby, a mother of two, says she become a shopper bee after her husband became employed as a rider, delivering meals, groceries and other treats for honestbee clients. She makes as many as 15 trips in a day, purchasing the orders of their clients, which means the wet market has become quite a popular partner-merchant for the app.)

And so last week, I tappity-tapped on my mobile phone and ordered some alimango, suahe, kitang, romaine lettuce, pork belly and beef sirloin. This was serious business, as I weighed the pros and cons of the prices (e.g., bakla crabs were P900 a kilo), and chose how many kilos I should be ordering for some items (like 2 kilos for “Duco” lanzones—a decision I would later regret). I tapped out specific

instructions for the shopper bee regarding the size of the suahe and to taste the lanzones first.

I got to decide what time the goods would be delivered (9 to 11 am), and how I would pay for the items (gift voucher and cash). I received the products the next day in a generally satisfactory condition. I was excited that the crabs and shrimps were still alive and thrashing about in the separate plastic bags they were wrapped in. The crabs kept trying to escape the steamer as I prepared them for their glorious demise. And the beef sirloin was just perfectly sliced thinly for my tapa. (This kind of butchering is next to impossible in supermarkets.)

On the other hand, the lanzones was not sweet at all, though I left specific instructions to the shopper bee to taste them first before buying. Also, I specified a certain size for the live suahe but this, too, wasn’t followed; I’m guessing because I left it up to the shopper bee to make a suggestion about alternatives.

For sure, buying from Farmers via honestbee has its clear upsides. There is the convenience of not having to dress up (or down) to leave your home, along with not driving all the way to Cubao and trying to find an appropriate parking for one’s vehicle. For those without their personal cars, they either hail a cab or get a Grab—both of which are no longer pleasant modes of transport.

The only downside is letting go over the control of the purchase. Shopper bees don’t possess the fuzzy logic that many of us do, such as keeping purchases under a certain amount or weight so as not to go over one’s budget, or not buying a certain fruit because it’s not sweet. For older market habitués like myself, this can be make or break one’s relationship with the app. For the younger set, especially the millennials, I don’t see this as an issue at all since they’ve been used to handing their power of selection to the apps they use. They order almost everything they need online these days; you name it, food, clothes, shoes, appliances...so why not live seafood?

I was surprised that I wasn’t bothered at all with the absence of the usual chitchat with one’s suki. However, I wish honestbee would be able to accredit more partnerstalls to give us the best prices and product selections.

(Tip: The company has accredited wet markets in other cities, so it’s best to check your app for the nearest one to your set address.)

But I’m certainly going to give it another try, and next time,

ALING Ruby, a shopper bee, chooses from the array of fresh vegetables for her client’s order. PHOTO: STELLA ARNALDO

will be more super-specific in my instructions, and actually suggest the substitute products myself. Overall, it was an excellent experience going to the palengke via an app. n

D4

Friday, November 16, 2018

Show BusinessMirror

A ‘Beastly’ good time all over again CONTINUED FROM D1 evolving the universe she’s built and, for me as a filmmaker, that makes coming back inspiring and always challenging.”

Much has transpired since Magizoologist Newt Scamander departed New York for London, leaving a hopeful Tina Goldstein on the dock, and since Queenie Goldstein entered the bustling bakery owned by No-Maj Jacob Kowalski, who—despite having his memories obliviated—seems to show a somewhat bemused spark of recognition. In the months that have passed, Newt completed his book, Fantastic Beasts and Where to Find Them, which has become a bestseller.

Queenie and Jacob have begun a furtive romance in violation of the American wizarding world laws forbidding it. And their relationship has caused a rift between Queenie and her sister, Tina, who, having been reinstated to Macusa’s Auror ranks, is responsible for enforcing those laws.

Reprising the role of Newt, Eddie Redmayne notes, “For the first movie, J.K. Rowling created four unique characters, all of whom were outsiders and struggling in their own way. It is only through the connections they develop with each other— through that symbiosis—that they thrive and find happiness and even love. But in the interim, through miscommunication and circumstance, things have shifted.” Rejoining Redmayne as the original quartet are Katherine Waterston as Tina, Dan Fogler as Jacob and Alison Sudol as Queenie. Waterston comments, “When we met these characters, they were all struggling to come into their own, but hadn’t quite gotten there yet. I found it was very compelling to explore how the important relationships in our lives push us, enlighten us and help us grow. And J.K. Rowling has brilliantly weaved that idea—of the power of friendship—throughout this continuing, ever-expanding story.”

For all the actors, one of the most exciting aspects of coming back for the second film was that “the roots of this story are embedded in the Potter lore we all know and love,” says Redmayne. “The histories that were only touched on before are being torn open and explored. And the stakes are that much higher.”

The links to Potter are immediately evident as, near the start of the film, Newt is mysteriously summoned by his former professor, now mentor and friend, Albus Dumbledore. Taking on the role of the beloved character, Jude Law is quick to clarify, “This is the Dumbledore who is not yet the great Headmaster at Hogwarts. He is closer to the formative, and more traumatic, experiences in his life that perhaps color him. What was especially interesting for me—and for us as a team—was to try and layer in foundation points that keep him closely related to the Dumbledore we know, but with room to grow and learn and to make mistakes. And the stories we’re telling will show the evolution of the character.”

Wizarding World aficionados know there is one figure from Dumbledore’s past who is inexorably tied to his evolution: Gellert Grindelwald.

Arrested by Macusa at the end of Fantastic Beasts and Where to Find Them, Grindelwald proves his powers are not to be underestimated—escaping in dramatic, and lethal, fashion. Once free, Heyman relates, “he begins to engineer events to further his cause: that wizards no longer have to live in secret, and that they should emerge from the shadows and be the dominating force in the world. He truly believes wizards are superior and should act accordingly. And he is very persuasive.”

Yates says Grindelwald is a very different type of villain from the evil Lord Voldemort. “If you disagreed with Voldemort, he would kill you in an instant. But Grindelwald is incredibly beguiling.

He would rather win people over to his side than annihilate them, and he is smart enough to

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‘BUBBLE GANG’ OFFERS TELEMOVIE SPECIAL FOR 23RD ANNIVERSARY CELEBRATION

understand you have to win hearts and minds, not coerce people, to gain their allegiance. So, whereas Voldemort was something of a thug, Grindelwald is a much more sophisticated player...and all the more dangerous for it.”

Johnny Depp, who returns as Grindelwald, adds, “There is a rhythm to the way Grindelwald speaks, a cadence, that draws you in. Ultimately, what I felt about the character in terms of his presence is that it would be an exercise in stillness. I mean, his words are important, but what’s even more important with Grindelwald is the subtext of those words. It is the dialogue that’s silent—the meaning between the lines.

It’s almost hypnotic.”

Grindelwald’s ability to enthrall the masses leads to what Yates defines as a pivotal theme of the story.

“These are circumstances when some characters will ultimately have to decide what they believe in.

Will they choose a side or stand passively by and watch the world consumed in flame? That resonates throughout this film.”

Broadening our view of the wizarding world, the film takes us to Paris, which was created on the backlot at Warner Bros. Studios Leavesden in England. Rowling notes, “One of the great joys of the Fantastic Beasts series is how free I am to take the story to different countries and explore other aspects of the magical world. I sometimes look back and think, ‘My goodness, seven books, eight movies, all set largely in a school. How did we do that?’” she laughs.

That school, of course, is Hogwarts and fans have already expressed their excitement at seeing again the iconic silhouette of the castle. Yates attests, “It doesn’t matter where you are in the world...when the camera flies over those mountains and you suddenly see that school at the end of the lake, you can feel the ripple of anticipation in the theater. So it’s a pleasure to be able to take the audience back and experience again the magic of Hogwarts.” n

BEING the country’s longest-running and multi-awarded gag show, GMA’s Bubble Gang continues to deliver world-class and extraordinary entertainment to Filipino viewers for more than two decades now.

The program is still the Filipinos’ favorite comedy show because of its unique, amusing and one-of-a-kind parodies, sketches and gags about television commercials, famous personalities and current events.

As it celebrates its 23rd anniversary, Bubble Gang will present a narrative uniquely intertwining the show’s popular segment forms—talk, interview, musical parody, sketches, commercial spoof and gag dubbed as “Bente Tres Oras.”

This year’s TV special tells the adventures of Bea Bangenge (Michael V.) and Toto Batoto (Antonio Aquitania) as they embark on a journey to find a Wi-Fi connection for Bea. On their trip, they will meet famous Bubble Gang characters, such as Antonietta, Don Cantoni, Mr. Assimo, Tata Lino, the Balitang Ina hosts, Lebrown James and many more. For acclaimed comedian Michael V., Bubble Gang’s ’s loyal viewers have always been their inspiration in creating new and latest gags and sketches.

“The change in Bubble Gang is constant because of the continuous change in the audience profile. Pero it’s a good change, as always. I learn new things from them. For me, that is always a challenge and it’s also a good thing kasi nakakadagdag ito sa kaalaman ko bilang isang comedian,” he said. Together with Michael V., catch cast members Antonio Aquitania, Paolo Contis, Betong Sumaya, Sef Cadayona, Boy 2 Quizon, Mikoy Morales, Jak Roberto, Archie Alemania, Juancho Trivino, James Macasero, Roadfill, Diego Llorico, Chariz Solomon, Kim Domingo, Andrea Torres, Valeen Montenegro, Jackie Rice, Denise Barbacena, Lovely Abella, Analyn Barro, Arra San Agustin, Arny Ross and Myka in this year’s anniversary special.

Under the helm of director Bert de Leon and head writer Caesar Cosme, Bubble Gang’s ’s telemovie airs on prime time on November 23 after Pamilya Roces on GMA.

say, “Huy, mag-damit ka nga at magpatawa ka na lang!”

So I crossed off funny men from my “crush” list.

Until last week at the Rebisco 55th anniversary party. Let me say something first about the event before I tell you what happened to me.

It was in this event held at Wack Wack Country Club where they launched commemorative tin cans specially designed by four renowned local

contemporary artists, namely, Migs Villanueva, Roel Obemio, Aris Bagtas and Joseph Bañez.

Migs Villanueva, a Palanca-awarded visual artist known for his use of pastel colors, designed a Rebsico can to invite Filipinos to see their own childhood experiences in her works. Aris Bagtas’s abstract design celebrates Filipino folklore and religion.

Whimsy and fantasy are the themes of Roel Obemio with his specially designed can, while Joseph Banez made detailed renditions of hilarious Pinoy settings with his. These beautiful designer cans contain various biscuits and cookies and retails P175 each.

Anyway, one of the guests in the event was comedian and Fudgee Bar endorser Ryan Bang. And being with him is exactly that—a bang! He would spew one punchline after another that had me laughing hard.

At one point in the evening, I saw myself strangely drawn to Ryan and his positive, funny energy. All of a sudden, Ryan Bang became Ryan Reynolds, or even Ryan Gosling to me!

But then I stopped my mind from wandering to more malicious territory as I was really scarred from my childhood clown crush. Instead, I concentrated on the event and listened to the host who said that the Rebisco special designer cans are available this week in supermakerts nationwide Robinsons, Puregold, Waltermart, Rustan’s and Shopwise. And you can also get it online via www.honestbee.ph.

Phew!

Of long-ago crushes and designer tin cans GAB FAB JET VALLE

@jetvalle

BACK when I was a nubile virgin, I had this humongous crush on a funny, funny guy from class. He’s not much in the looks department. My big infatuation on him was inverse with his height actually. We grew up together and while he and his friends traversed puberty, his barkada suddenly grew muscles and inches. Meanwhile, he was still a hairless dweeb.

But still, I had a crush on him and horror of horrors, he didn’t reciprocate my feelings! That dwarf! Choosy pa?!?! Did I say he was tiny!??!?!

Anyway, he had a thing for this slut from some exclusive all-girl college (she’s not actually one but you call people you hate with all these spiteful names).

It was then I confessed this to my best friend and I opened up how I was heartbroken. She had a serious talk with me. She said men will eventually tire of looks and that one of the qualities that really matter

were brains, and she assured me I had (some of) that.

And my funny crush, he would eventually look for a partner who could match his humor. That little talk was long ago but it taught me an invaluable lesson in life: best friends lie when they have to.

The truth is that men are definitely more interested in looks than a partner who can match his sense of humor. It’s not like they see Angel Locsin and

MICHAEL V.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

BEEPBEEP.PH CEO Anton Ojeda and COO Paolo Acosta

Friday, November 16, 2018

E1

Business

E2 Friday, November 16, 2018

Shell Advance Save on Gas promo extended

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OTORCYCLE riders can continue to get their oil and get discounts on fuel all the way to the Christmas season, as the Shell Advance Save on Gas promo is extended until December 31, 2018.

With this promo, customers can enjoy more fuel economy while their engines run in peak condition on Shell Advance motorcycle oils. Motorcycle and tricycle customers can also get as much as P10 off per liter for every purchase of participating products from Shell Advance.

“As the holiday season approaches and we brace ourselves for the Christmas rush, the Shell Advance Save on Gas promo is the gift that keeps on giving,” said Lorrie Ramirez, brand manager of Shell Advance, Pilipinas Shell Petroleum Corp. “At Shell Advance, we understand the challenges that motorcycle riders face, that’s why we have a complete range

Moto DUTERTE SUPPOR

of motorcycle oils and scooter oils to ensure that their engines get complete protection.

And now, they have extra savings to take with them on the road from the huge fuel discounts that we are giving,” she added.

Shell Advance is giving big discounts on gasoline—get P10 off per liter of fuel for purchasing Shell Advance Ultra; P5 off per liter of fuel for Shell Advance AX7; P3 off per liter for the Shell Advance AX5; and lastly P1 off per liter for Shell Advance AX3.

Shell Advance motorcycle and scooters oils are available at participating Shell stations, motorcycle parts and supplies shops, and on Shopee. Now on the popular and leading e-commerce platform, customers can get their Shell Advance oil delivered right at their doorstep, and enjoy up to 20-percent off on their purchase, when they buy during the biggest online Christmas sale

of the year, the Shopee 11.11 and 12.12 Big Christmas Sale happening from October 26 to December 12.

Customers can fill up their tanks without breaking the bank by buying any of the participating Shell Advance products. They just need to check the sticker on top of the bottle cap for the corresponding discount, then surrender the cap with the sticker to claim the discount when they fuel up at participating Shell stations nationwide. The discount is exclusive to motorcycles and tricycles only and riders can use one cap for every transaction, valid for a maximum of five liters of Shell V-Power Racing, Shell V-Power Gasoline or Shell Fuel Save Gasoline.

Visit https://bit.ly/2RANOoH for complete promo mechanics and https://bit.ly/2D6fSfz for the list of participating Shell stations nationwide.

ISUZU CONTINUES ITS EXPANSION IN MINDANAO

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By VJ Bacungan

O less than President Duterte helped pull the wraps off of the latest Chinese car brand to hit our shores.

He was the guest of honor at the November 7 launch of GAC Motor Philippines where the company unveiled five new models, which was held at the Metrotent in Pasig City.

Duterte, whose administration has pushed for closer relations with China despite an ongoing territorial dispute in the South China Sea, thanked the company for choosing to invest in the Philippines.

“Rest assured that your trust will never be put in vain,” he said in a speech.

“The Philippine automotive market is among the fastest growing in Southeast Asia. Its annual growth rate of 22 percent in the last five years makes it a conducive place for trade and business.

Indeed, recent studies estimate that the local motor vehicle demand could reach 1 million units in 2028.”

The President added that the government is doing its best to provide a “level playing field” for investors.

“Just this year, I have signed the Ease of Doing Business Act to simplify government services and transactions,” he said. “With this law, we expect to attract more investments and encourage stakeholders to actively contribute in strengthening and cultivation of our industries.”

Luxury cars for less ISUZU Butuan now follows the design standards set by Isuzu Philippines Corp.

Story and photos

by Patrick P. Tulfo

I

SUZU is on a roll nowadays— opening dealerships one after another in just a span of few months.

On October 20, the company that is known to manufacture some of the toughest trucks and commercial vehicles in the country has inaugurated yet another dealership, this time in one of the fastest-growing city in the Caraga region, Butuan City.

Located along kilometer 3 Barangay Baan, the expansive dealership (with an area of 7,798 square meters) is expected to be bring the Isuzu advantage closer to its customers in the vibrant Caraga region, northeastern, Mindanao, which by the way encompasses five provinces and six cities with Butuan (pronounce as But-uan) as the regional administrative center and strategic hub.

To give you an idea how big Isuzu Butuan is, its showroom can display three light commercial vehicles (LCVs) and two commercial vehicles (CVs). The modern service bay, on the other hand, can service 10 vehicles simultaneously.

In his speech, Isuzu Philippines Corp. (IPC) President Hajime Koso said, “As we all know, Isuzu trucks holds the No.1 position in total truck sales for 18 consecutive years; this year, so far, our total truck sales have reached more than 47,000 units. For our light commercial vehicles, we have sold more than 200,000 units.

In our objective to make the entire Philippines an Isuzu country, Isuzu Butuan is among our most important instruments in the Caraga region.”

He added that the new dealership is set to make Isuzu products and services the market leader in this part of Mindanao. “IPC, being in the Philippines for over 21 years already, knows the strength and further growth opportunities in this particular market, as Caraga is well-known for its vibrant agriculture, mining, fishery and agro-forestry, and ecotourism industries. Isuzu vehicles and trucks all transport needs for these growth

IT features an expansive service bay area that can accommodate up to 10 vehicles at a time.

GAC Motor, also known as Guangzhou Automobile Group Motor Co. Ltd., was founded in 1955. Most of its current lineup is from its Trumpchi brand, which was launched in December 2010.

Legado Motors Inc. is the exclusive distributor of the Chinese brand in the Philippines, which is under its chairman and president, former Ilocos Sur Gov. Chavit Singson, and its chief executive officer Wilbert Lim. Singson said his company aims to sell vehicles to help Filipinos “enjoy the finer things in life in an affordable way.”

“Legado Motors is committed to serving the Filipinos with exceptional customer service, alongside offering the best selections of automotive deals, with only the best products in the market,” he said in a speech.

“It is our objective to work hand in hand with GAC Motors China in achieving their long-term goals: luxury, world-class products, affordability and the best customer experience, all in one prestigious brand,” Singson added.

Vios killer?

YASUHIKO OYAMA (from left), VP Sales Isuzu Philippines Corp.; Hajime Koso, IPC president; Dr. Jerome Young, board of director, Cebu Southern Motors; Rep. Lawrence Fortun of Agusan del Norte; and Francisco Rolida, president of Cebu Southern Motors Inc.

areas,” Koso added.

The IPC president also urged Isuzu Butuan to strive to bring the Isuzu advantage not only in Butuan but in the entire Caraga region, as well. He emphasized that their customers should also patronize Isuzu after-sales and genuine parts for their vehicles.

Meanwhile, IPC Division Head of Sales and Marketing Joseph Bautista cited Northern Mindanao is one of the fastest-growing areas in the country when it comes to sales.

He said, “In fact, sales in Region 13 grew by almost 70 percent last year.”

He echoed the pronouncement made Koso by saying, “We want to be here,

as this area is known for agriculture, mining, forest industry and now it is becoming an ecotourism hub with the opening of Siargao for surfing and other tourism spots, such as the Agusan marsh and hidden waterfalls.”

The Isuzu Advantage guarantees every customer with nationwide dealership support on parts and services provided by expert technicians.

It also offers roadside assistance and technical training on how to properly operate Isuzu trucks.

Isuzu Butuan is owned and operated by Cebu Southern Motor Group that also operates Isuzu Cagayan de Oro.

THE GAC Motor Philippines range starts with the GA4 sedan, priced to take on subcompact stalwarts like the Toyota Vios, Honda City and Mazda2.

The base P788,000 GB model gets a 1.5-liter, twin-cam, 16-valve, inline-4 producing 113 horsepower and 150 N-m of torque, which is mated to a five-speed manual gearbox.

Standard features include 16-inch

GAC GA4 (PHOTO BY KBB.COM)

PRESIDENT Duterte delivers his speech VJ BACUNGAN

alloy wheels, LED taillights, leatherette upholstery and a 60-40 split-folding rear seat.

Moving up to the top-spec, P988,000 GA4 GL gives you a turbocharged 1.3-liter, twin-cam, 16-valve, inline-4 pushing out 136 horsepower and 202 N-m of torque. This is mated to a six-speed automatic gearbox.

This gets 17-inch alloy wheels, automatic headlights, LED fog lights, auto-dimming rear-view mirrors, rainsensing windshield wipers, leather upholstery, a six-way electric driver’s seat, an electric sunroof, an 8-inch infotainment system with GPS navigation, cruise control and a tire pressure monitoring system.

Both models also get dual front airbags (with front-side airbags for the GL), electronic stability control, hill-start assist and ISOFIX child restraint anchors.

GAC GM8 GAC MOTORS

Big sedan with big features

FOR those who need more space, there’s the GA8 sedan, which gets a turbocharged 2.0-liter, twin-cam, 16-valve, inline-4 with 195 horsepower and 300 N-m of torque and a six-speed automatic gearbox.

The P1.988-million GE variant gets 17-inch alloy wheels, a 180-degree rear-view camera, rear parking sensors, LED headlights, taillights and fog lights, leather upholstery, a 10-inch infotainment system, cruise control, an engine stop-start system, electrically adjustable and heated front seats and an electric sunroof.

The P2.288-million GL adds 18inch alloys, a 360-degree surroundview camera system, a lane-departure warning system and a rear manual curtain.

Both variants get front, front-side and curtain airbags, Isofix child-restraint anchors and electronic stability control.

Fully loaded SUVs

GAC GA8 GAC MOTORS

FOR those who need more ground clearance, there’s the P1.188-million GS4 sport-utility vehicle (SUV).

Under the hood, this front-wheeldrive five-seater has a turbocharged 1.5-liter, twin-cam, 16-valve, inline-4 producing 151 horsepower and 235 N-m of torque. This is mated to a sixspeed automatic gearbox.

Standard equipment includes 18-inch alloy wheels, cruise control, leather upholstery, an electric sunroof, front and front-side airbags, electronic stability control, hill-hold assist, hill-descent control and Isofix child-restraint anchors.

If you need a seven-seater, but want something other than a Toyota Fortuner, Mitsubishi Montero Sport or Ford Everest, there’s the 4x2 GS8 GE

TOYOTA CLASSICS DONATES PROCEE T

OYOTA Motor Philippines (TMP) is pleased to announce the success of its charity concert on November 7. Due to the overwhelming support of the public, the Toyota Classics 2018 has reached a recordbreaking ticket sales of over P2 million.

In line with its first global corporate initiative “Start Your Impossible” (SYI), Toyota believes that mobility goes beyond cars and is about overcoming challenges and making dreams come true. With the theme, “Music that Moves Lives for All,” Toyota Classics

has been touching the lives of people both within and beyond the concert hall, supporting people in realizing their dreams and celebrating their achievements. The proceeds from this year’s Toyota Classics will go to the Philippine Paralympic Committee and Toyota’s SYI Hero Athlete and first Filipino gold medalist, Para swimmer Ernie Gawilan.

Topping up more than double the ticket sales, Toyota also donated one unit of a 29-seater Coaster and P1 million for the purchase of multisports

wheelchairs to support the Paralympic athletes in their transportation and training requirements. With better resources, the Philippines’s Para athletes can train and prepare better for their succeeding Paralympic competitions, hopefully enabling them to bring more pride to the country.

With unrelenting commitment to corporate social responsibility and sustainable development, Toyota Motor Philippines shall continue forging new avenues to serve the Filipino society.

oring RTS GAC MOTORS

sMirror

Friday, November 16, 2018

Ranger and Everest lead October sales

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ORD Philippines announced October retail sales of 1,625 vehicles, led by the Ranger and Everest.

The Ranger posted October sales of 725 vehicles, pushing its year-todate sales up 12 percent to 9,216 vehicles. The new Ranger lineup, launched in September, features two new-generation powertrains—the 2.0L Bi-Turbo and 2.0L Single Turbo engines, as well as the proven Duratorq engine—helping bolster the Ranger’s wide appeal among Filipino customers.

The high-performance Ranger Raptor, which was also launched in

GAC GS4 GAC MOTORS

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September is helping attract new customers looking for a Ranger with immense and unmatched off-road capability.

The Everest midsize sport-utility vehicle recorded sales of 560 vehicles, driving its year-to-date sales to 4,960 vehicles. The Everest features impressive off-road capability, on-road comfort, advanced technology, bold design, and a comfortable, quiet and refined interior. The EcoSport miniSUV contributed to the October retail performance with sales of 274 vehicles, driving year-to-date total to 4,597 vehicles. The new EcoSport features a choice of two highly capable

powertrains—the award-winning 1.0-liter EcoBoost engine and the 1.5-liter Ti-VCT engine.

The new Mustang posted sales of 30 vehicles, pushing its year-to-date sales up 9 percent to 369 vehicles.

“Our Big Three nameplates— Ranger, Everest and EcoSport— continue to drive our overall sales.

We’re expecting to finish the year strong, supported by a number of experiential test-drive events planned around the country that allow prospective customers to personally experience our full Ford lineup,” said Bert Lessard, managing director, Ford Philippines.

OLX reveals vehicles with the best resale value

I GAC GS8 GAC MOTORS

and the 4x4 GS8 GL. Both variants get the same turbocharged 2.0-liter inline-4 and six-speed automatic gearbox in the GA8 sedan, but the engine has been tweaked to produce 199 horsepower and 320 N-m of torque.

The GE gets 18-inch alloy wheels, HID headlights, LED taillights, a rearview camera, electrically heated and folding side-view mirrors, rain-sensing windshield wipers, a 10-inch touchscreen infotainment system, leather upholstery, electrically adjustable front seats, three-zone climate control and an electric sunroof.

Meanwhile, the GL gets 19-inch alloy wheels, LED headlights, a 360-degree surround-view camera system, a lane departure warning

system, a tire-pressure monitoring system, an engine stop-start system, an electric tailgate, a heated steering wheel with paddle shifters, heated and ventilated front seats and a panoramic sunroof.

A van with panache

FINALLY, we have GAC Motor Philippines’s flagship model, the P2.88-million GM8, which is aimed at the Toyota Alphard and the Honda Odyssey.

Its turbocharged 2.0-liter inline-4 and six-speed automatic gearbox are taken out of the GS8, but this van gets captain-style second-row seats and three-seat third-row bench.

T he GM8 gets 18 -inch alloy wheels, LED headlights, taillights and fog lights, heated side-view mir-

rors, rain-sensing windshield wipers, three-zone climate control, leather upholstery, electrically adjustable front seats, heated and ventilated second-row seats with electrically adjustable leg rests, power-sliding side doors, an electric tailgate, a 10-inch touchscreen infotainment system, cruise control, an engine stop-start system and a 180-degree rear-view camera.

Standard safety equipment includes front, front-side and curtain airbags, electronic stability control, hill-start assist, hill-descent control and Isofix child-restraint anchors.

You can check out all of GAC Motor Philippines’s models at their showroom at the Metrowalk Commercial Complex in Pasig City.

EEDS TO PHILIPPINE PARALYMPIC DR. David Go (from left), TMPF president; Satoru Suzuki, TMP president; Alfred Ty, TMP vice chairman; Susumu Matsuda, TMC managing officer; Ernie Gawilan, hero athlete; Debbie Tolentino, PPC managing officer; Mike Barredo, PPC president; and Coach Tony Ong

S a vehicle’s resale value one of your considerations before purchasing a car? If it is, your best bet is a pickup truck, according to data released by the world’s leading classifieds platform, OLX. Vehicles in this particular classification, on average, take about nine years to lose 50 percent of their suggested retail price (SRP).

Based on a sampling from OLX’s secondhand car listings in the country from August 2017 to August 2018, the extensive data comprises the top 11 automotive brands based in 2017 sales volume. On average, it takes 5.10 years for a vehicle’s SRP to get slashed to half, according to this sampling. Pickup trucks, multipurpose vehicles (MPVs), and vans, however, performed above average and take more time before they lose 50 percent of their value.

“A number of factors affect the pickup truck’s robust resale value,” said Manuel Roman, OLX Philippines’s head of Cars. “The versatility and reliability of pickups make them desirable vehicles. In the brand-new vehicle market, light commercial vehicles—one of which is the pickup truck—are popular choices among consumers. In the secondhand market, the demand for pickups remains high. Without an oversupply in the market, they keep their value well.”

Meanwhile, car buyers looking for seven-seaters should consider including MPVs on their shortlist if they want a vehicle that doesn’t depreciate fast. Compared to sportutility vehicles, MPVs keep their value longer: It takes 7.06 years on average before they lose half of their SRPs. SUVs, on the other hand, slash their value by 50 percent after 5.04 years. The infographic below shows the average number of years it takes before a particular vehicle classification loses 50 percent of its SRP. The OLX data shows that on average, three-year-old vehicles retain 62 percent of their SRPs. When automobiles reach their fifth year, they keep 52 percent of their value.

On the 10th year, the vehicle’s value

becomes 33 percent of its SRP. OLX Philippines’s analysis of the data found that Mitsubishi, Isuzu, Nissan and Toyota vehicles do not depreciate as fast as other brands.

It takes Mitsubishi and Isuzu vehicles an average of 6.03 years before their price reach 50 percent of their SRP. Nissan-badged vehicles take 6.02 years before they lose half of their value, while Toyota cars take 5.89 years.

It is important to note that just because a particular brand cuts its SRP by 50 percent earlier than average doesn’t mean it’s a substandard one. One of the factors that can affect a car’s depreciation is demand.

The desire for vehicles bearing the

badge may not just be as high as the other brands. In addition, owners of these vehicles may be keeping their cars longer and sell only when the cars are older. Hence, the listings under these brands have relatively lower value compared to other marques.

OLX Philippines connects millions of Filipinos to buy and sell brand-new and used items, including automobiles and motorcycles, via their mobile phones or the Web. Every month, around 45,000 vehicle listings are posted on the OLX platform. More than 1.4 million users log in to OLX monthly to check out the cars available or to post one for sale.

Motoring BusinessMirror

E4 Friday, November 16, 2018

12 Demerits of NZ & Australia; oiling with China 12 Demerits have been consumed, it follows that the Land Transportation Office must also be involved in the equation.

What do you think, Sirs?

Fuel prices

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N the United States, traffic cops on board their motorcycles are still very much around, especially in California freeways (expressways in the Philippines). They stop you, mostly on speeding issues (over-speeding, that is). You can’t complain. Nor argue. You want to contest the traffic violation, go to court. Pretty much the same here.

But we don’t see them cops in big bikes that much anymore on our highways. Only in the metropolis, particularly at either Edsa or C-5.

And they’d hardly ask you to pull over once you got flagged down.

Maybe because of traffic snarls?

They find it hard to separate you from the machine maze, and then hale you by the roadside?

Would you not cause more traffic jams when you got apprehended?

T hat’s why the no-contact apprehension policy has been in use for years in many First World countries.

Take the examples of New Zealand and Australia. They practically have the same traffic laws.

I was in Australia recently (Sydney) and they have this system called 12 Demerits. Same as in New Zealand, according to Danny “Sir John” Isla, the former Lexus president who migrated to Auckland last year.

Each time you commit a traffic v iolation in both countr ies, you s u f fe r de duc t ion s f rom your 12 Demer its. You are a lso assessed fines.

They send your violation by

mail (e-mail), which contains the type of infraction, time of its commission, place where it was committed, the car’s license plate number, etc.

You can hard ly dispute the charge as traffic cameras are all over to prove the authenticit y and veracit y of the police/ traffic repor t.

“They are so strict that you face the specter of having your driver’s license suspended,” said Ramon Acebes, who’s been living in Sydney for decades. “The hardest part is trying to get a new license. Your past traffic violations will almost always come into play.”

Sir John has e-mailed me a news story about an 18-year-old employee in an Auckland company who was never late in reporting to his office for even a single day for a year. Turns out he was speeding all the time.

And for repeatedly ignoring

the e-mailed traffic citations, he has incurred more than $1,000 in fines.

“Interests must have been added to his penalties that’s why they have grown that much,” said the Batanes-born Ramon, the loving hubby of Becky de Leon from M. Dela Fuente Manila. “That sometimes happens here, too. The thing is, you need to obey and pay the accumulated fines or else, your job and family security might be in jeopardy a bit, if not for a long, long while. Hassle.”

I think our traffic officials— paging MMDA, mainly—could learn a thing or two from this.

Since we are now into the nocontact apprehension policy anyway, why not also include the 12 Demerits system on top of the system of mailing to the law offender on traffic violations?

And since it will entail cancellation of a driver’s license when the

DESPITE the successive lowering of fuel prices, our diesel/gasoline costs remain one of the highest in the world.

World records from GlobalPetrolPrices.com say diesel in the Philippines is more expensive than those in 37 other countries across the universe, including five other Southeast Asian countries but not Brunei Darussalam.

I was in Brunei once and I saw some gas stations there left unmanned. Anyone can pump gas into his car and leave without paying.

Brunei, being one of the world’s biggest oil producers—a miracle as it is one of the world’s tiniest nations, too—fuel there is heavily subsidized.

Malaysia has the lowest diesel price at $0.52 per liter and Singapore the highest at $1.2 per liter. Ours is nearly $1 a liter of diesel.

“The average price of diesel in the world…is P77.41,” said GlobalPetrolPrices.com.

But gasoline price in the Philippines by November 6 was P57.85 per liter and P56.60 in Metro Manila.

The average gas price in the world on November 5 was P85.38 per liter.

Like Brunei, Venezuela, also a major oil producer, allows its products practically free at $0.00 per liter of diesel and $0.01 per liter of gasoline.

Unfortunately for us oil-starved

NAOMI OSAKA with her 2018 Nissan GT-R NISMO

nations like Norway (almost P110 per liter of diesel) and Hong Kong (almost P150 per liter of diesel), we are literally at the mercy of oilproducing countries. Meaning, what oil price they dictate in the world market, we are left with no choice but merely to obey.

S ome t i me s, I a s k my s e l f : Brunei is just almost a spitting distance away from Palawan and yet, why did God not extend His love all the way to the Philippines as to also give us the luxury of having oil, too?

Why give us Palawan’s El Nido, Amanpulo and Coron near Brunei when we have lots of tourist spots already, like Pagudpud, Hundred Islands, Panglao, Siargao and, yes, Boracay?

Of course, we are thankful that you gave us Malampaya. But that is mere peanuts to Brunei’s worldbeating oil fields.

So, come on, bring it on then. Let’s co-explore with China in the search for oil in the West Philippine Sea. Just a thought, of course.

PEE STOP Jaime J. Bautista, the amiable president of Philippine Airlines, will be the guest of honor and speaker in today’s (Friday, November 16) graduation ceremonies of the Asian Institute of Aviation-Planters Aviation Corp. at Subic Freeport led by AIA-PAC President Domingo T. Duerme.

Twenty-one graduates of different Asian nationalities will receive their diplomas as new pilots after extensive studies from one of the country’s most prestigious flying schools. Congratulations! Cheers!