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DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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Wednesday, November 21, 2018 Vol. 14 No. 42

PHL, China ink oil, gas devt agreement in WPS A By Bernadette D. Nicolas

@BNicolasBM

FTER denials that an oil exploration deal is in the works in time for Chinese President Xi Jinping’s visit, the Philippines and China signed on Tuesday an agreement on cooperation on oil and gas development in the West Philippine Sea, along with at least 28 other accords.

The Memorandum of Understanding (MOU) on cooperation on oil and gas development between the Philippines and China was signed by Foreign Affairs Secretary

Teodoro L. Locsin Jr. and China’s State Councilor and Minister of Foreign Affairs Wang Yi. The exchange of agreements was witnessed by President Duterte

and President Xi in a ceremony at Malacañang’s Reception Hall. Energy Secretary Alfonso G. Cusi said in a text message to reporters on Tuesday that the

“China and the PHL have a lot of common interests in the SCS. We will continue to manage contentious issues and promote maritime cooperation through friendly consultation, and work alongside other Asean countries toward the conclusion of the COC consultations based on consensus within three years, and contribute our share to peace, stability and welfare in this region.”— Xi

agreement was a “solution [to] how we can enjoy the resources in the area,” particularly in the West Philippine Sea.

Teddy Locsin Jr.

FREE FIRE Remarks prepared by Ging Valles and delivered by H.E. Teodoro L. Locsin Jr., Philippine Permanent Representative, on the occasion of the AsiaPacific group reception for the candidature to the human-rights council for the term 2019-2021, October 8, 2018. “Good evening. THANK the Ambassadors of Bahrain, Bangladesh, Fiji and India for co-organizing this event with the Philippines. I thank all our colleagues who join us this evening.

‘I

Continued on A6

By Recto Mercene

@joveemarie

See “Budget,” A2

PHL supports practical and doable initiatives to protect human rights

No demand to pick between US, China: Kim to Asian states

By Jovee Marie N. dela Cruz

FTER pressure from the Senate, the House of Representatives approved on Tuesday the bill providing for the national budget of P3.757 trillion for next year. Voting 196-8, members of the lower chamber endorsed for Senate approval House Bill 8169, or the Fiscal Year 2019 General Appropriations Bill (GAB). Majority Leader Rolando G. Andaya Jr., in a news conference, assured the public the 2019 budget is “pork barrel-free.” “Everything we are doing here is compliant with all the pertinent laws and the Supreme Court decision [on the Priority Development Assistance Fund],” he said. House Committee on Appropriations Vice

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Continued on A2

House okays ₧3.7-trillion 2019 budget

2017 EJAP JOURNALISM AWARDS

CHINESE President Xi Jinping (right) and President Duterte wave to the media following a welcome ceremony at Malacañan Palace on Tuesday, November 20, in Manila. Xi is on a two-day state visit, the first in 13 years by a Chinese leader. AP/BULLIT MARQUEZ

PESO EXCHANGE RATES n US 52.6000

@rectomercene

HE United States gave assurances on Monday that its Indo-Pacific strategy is not directed at China, and neither is it asking the countries in the region to choose between the US and China. The declaration was made by US Ambassador Sung Y. Kim, speaking during a forum, entitled: “The Philippines-United States Alliance at 67: Quo Vadis?” “Let me assure you, our IndoPacific strategy is not targeted at China or any other country; rather, it is rooted in long-standing friendship we shared with our partners and communities in the region,” Kim said. The Indo-Pacific, sometimes known as the Indo-West Pacific or Indo-Pacific Asia, comprises the tropical waters of the Indian Ocean, the western and central Pacific Ocean, and the seas connecting the

“We seek a constructive, resultoriented relationship with China wherever possible. Indeed, the US and China productively engaged across a broad spectrum of interests. We have no intention of making countries choose between the US and China.” —Kim

two in the general area of Indonesia. “We seek a constructive, resultoriented relationship with China wherever possible. Indeed, the US and China productively engaged across a broad spectrum of interests. We have no intention of making countries choose between the US and China,” Kim said, just as Manila rolled out the red carpet for Chinese President Xi Jinping who began a historic state visit as he flew in late Tuesday morning.

n JAPAN 0.4675 n UK 67.6068 n HK 6.7161 n CHINA 7.5776 n SINGAPORE 38.3605 n AUSTRALIA 38.3507 n EU 60.2428 n SAUDI ARABIA 14.0207

See “Kim,” A8

Source: BSP (20 November 2018 )

News

BusinessMirror

A2 Wednesday, November 21, 2018

Rice tariffication law certain of year-end passage–Villar By Jasper Emmanuel Y. Arcalas

@jearcalas

ORE than a year after its commitment, the Philippines might finally be able to scrap its quantitative restriction (QR) on rice before the year ends as a rice tariffication bill nears its passage into law. Sen. Cynthia A. Villar, who chairs the Senate Committee on Agriculture and Food, said she is optimistic that President Duterte would sign the rice tariffication bill into law before Congress takes its Christmas break. Lawmakers will hold their last session on December 12 and resume work on January 14. “Yes, I think so,” Villar told reporters in an interview on the sidelines of the launching of the Philippine Rise Photo Exhibit at the National Museum of Natural History on Monday evening, when asked if Duterte could sign the rice

₧10 billion The automatic annual budget to be set aside for the Rice Competitiveness Enhancement Fund (Rice Fund) once the rice tariffication law is enacted

tariffication into law before legislators take a break. Villar said Congress will hold a bicameral conference committee on Thursday to marry the disagreeing provisions between Senate Bill 1998 and House Bill 7735.

Both bills seek to convert the QR on rice imports into tariffs, a commitment made by the Philippines to the World Trade Organization (WTO). The Philippines has been in violation of its WTO obligation since it committed to convert the rice QR into tariffs by July 1, 2017. Villar is adamant about changing some provisions of SB 1998 that are criticized by various farmer groups and nongovernment organizations. Villar said they passed a “good” rice tariffication bill, which according to her, was studied and deliberated on by 22 senators. It is better, the senator argued, to pre-allocate and disburse directly the portions of the Rice Competitiveness Enhancement Fund (Rice Fund) to the implementing agencies to ensure the proper utilization of the money. Under SB 1998, the Rice Fund will be established from the tariff collections from rice imports that will be earmarked to the rice sector. Furthermore, the Rice Fund would have an automatic annual P10-billion budget with the exceeding amount coming from tariff revenues being allocated by Congress.

“We accepted the P10-billion annual allocation so that we would not await the collection from the Department of Finance. Because it would take time to collect the tariffs and allocate it to them. At least they [rice farmers] are assured of P10 billion,” Villar explained. “I do not think the rice fund would be politicized,” Villar added. The senator said they included that provision to avoid the fate of the Agricultural Competitiveness Enhancement Fund (Acef), which was only able to collect P13 billion to date. Villar added that it would be more unsafe and complicated if the Rice Fund were to be handled and allocated by the Department of Agriculture (DA). “I did a study [on] why [rice farmers] are not competitive and not profitable. And the reasons are the lack of mechanization and use of bad-quality seeds,” she said. “That’s why we put the fund directly [in] PhilRice [Philippine Rice Research Institute] to be in charge of seed extension. Because if you put the money with DA, it might allocate the fund somewhere else,” she added.

PHL, China ink oil, gas devt agreement in WPS

As of press time, no details yet were provided regarding the agreement. However, Malacañang earlier said in October that it is doing everything it can to have an agreement signed during the visit, so that the country will have energy security, given the long time since it last had any new major exploration activities, and given the forecast that the Malampaya oil and gas field in Palawan will dry up in a few years. Then Presidential Spokesman Harry L. Roque Jr. said they are hoping that around 2027, commercial production would already be possible in Service Contract 72 where natural gas and oil are expected to be found.

Trillanes’s ‘copy’

AHEAD of the exchange of agreements, Senator Antonio F. Trillanes IV also leaked to the media on Tuesday a copy of a purported draft Framework Agreement on Joint Maritime Oil and Gas Exploration between China and the Philippines, which stated that the two parties have agreed “to conduct joint and oil gas exploration in relevant sea areas in the South China Sea.” However, Malacanang has yet to confirm if this was the same framework agreement adopted for the signed MOU. The purported draft framework agreement also stated that joint oil and gas exploration shall not affect the respective positions on sovereignty and maritime rights and interest of the two parties. “The Working Group is to discuss the details of the joint exploration. The two parties’ entrepreneurs are to sign contract based on the discussion. The contract is to be performed upon the ratification of the Committee,”the supposed draft read. Any dispute concerning the implementation or interpretation of the agreement or any other relevant disputes shall be settled through friendly consultation by the two parties.

Expanded cooperation

IN his statement at a joint press briefing after meeting Xi, Duterte said the Chinese leader’s visit is a “historic milestone” for the bilateral relations of two countries. “In the past two years, we have worked hard to lay the cornerstones for the continued advancement of our beneficial cooperation in a wide range of areas. A lot of work

Boracay. . .

Continued from A8

as chairman of the Boracay Foundation Inc. (BFI), one of two pioneering stakeholder groups on the island. A copy of BFI’s letter to its members attr ibuted Chusuey ’s resignation to “his many travels abroad.” As such “he may not effectively perform his duties.” Tem-

Continued from A1

remains, but President Xi’s visit gives us new impetus to our mutual efforts to enhance collaboration in ensuring the well-being of our peoples and contributing to peace and stability in the region,” Duterte said. He said he and President Xi discussed cooperation on the reconstruction and rehabilitation of Marawi, and the Philippines’s participation in China’s Belt and Road Initiative, mutual concerns on defense, security, maritime cooperation, law enforcement, transnational crime, as well as strengthening partnership in combating the trafficking of illegal drugs. “I personally conveyed to President Xi my appreciation for his valuable support for the Philippines’s many initiatives in regional and international spheres, particularly during our Asean chairmanship last year and the Philippines’s current Country Coordinatorship of the Asean-China Dialogue Relations leading to a sustainable Code of Conduct. I also thanked the Chinese Government for its generous assistance during calamities, such as the recent Typhoon Ompong,” he said. “With mutual respect, sincerity, and adherence to sovereign equality, I will continue to work closely with President Xi to deepen the relationship between our great countries so we may together secure a peaceful and prosperous future for both our peoples and for the entire region,” he added. Meanwhile, Xi said in his joint press statement that they have agreed to elevate their relationship into “one of comprehensive, strategic cooperation.” “This vision charts a clear course for ChinaPHL relations and sends a strong message to the world that our two countries are partners in seeking common development,” he said. China has also committed to work with Asean countries in concluding the COC consultations within three years. “China and the PHL have a lot of common interests in the SCS. We will continue to manage contentious issues and promote maritime cooperation through friendly consultation, and work alongside other Asean countries toward the conclusion of the COC consultations based on consensus within three years, and contribute our share to peace, stability and welfare in this region.” He lauded President Duterte’s leadership and expressed support for his endeavors, and

said, “We would like to see the PHL playing an even bigger role in regional and international affairs.” He also invited President Duterte to attend the second Belt and Road forum for international cooperation which China will host next year. Xi Jinping also committed to help repair road and bridges in Marawi and import more goods in the Philippines. Before leaving on Wednesday afternoon, the Chinese leader is scheduled to attend to a joint call of House Speaker and former President Gloria Macapagal-Arroyo and Senate President Vicente Sotto III and have a photo opportunity with leaders of the Filipino-Chinese Community. The list of agreements signed between the two governments include the following: ■ Exchange of MOU between Philippines and China on cooperation on the Belt and Road initiative ■ Exchange of MOU on cooperation on oil and gas development between the Philippines and China ■ MOU between the Foreign Service Institute of the Republic of the PH and the China Foreign Affairs University of the People’s Republic of China ■ Exchange of executive program of the cultural agreement between the government of PH and China for 2019 to 2023 ■ Exchange of MOU on basic education cooperation between DepEd of PH and the Ministry of Education of People’s Republic of China ■ Exchange of MOU between the Department of Information and Communication Technology of the PH and Ministry of Industry and Information Technology of China ■ Exchange of MOU between the Cooperative Development Authority of the PHL and Ministry of Agriculture and Rural Affairs of China on strengthening the building of agricultural cooperatives ■ Exchange of infrastructure cooperation program between the PH and China ■ Exchange of program for cooperation on industrial parks development between PH and China ■ Exchange of handover certificate of emergency humanitarian cash assistance between PHL and China ■ Exchange of MOU on jointly promoting

the cooperation in key infrastructure projects in Davao region between the DOF of the PHL and Ministry of Commerce of China ■ Handover of certificate of humanitarian cash assistance between the government of the PHL and China ■ Exchange of implementation agreement of the feasibility study for Davao City Expressway project ■ Implementation agreement of feasibility study for Panay-Guimaras-Negros islands bridges project ■ Exchange of MOI on Renminbi clearing arrangement ■ Exchange of protocol for phytosanitary requirement for export of fresh young coconuts from the PHL to China between the DA of the PHL and the General Administration of Customs of China ■ Protocol of sanitary and phytosanitary requirements for export of frozen fruits from the Philippines to China between DA, DOH of PH and General Administration of Customs of China ■ Exchange of agreement on economic and technical cooperation between the government of the PH and China ■ MOU on supporting feasibility study of nature projects between DOF of PH and China International Development Cooperation Agency ■ Exchange of letters on project of container inspection equipment ■ Exchange of letters on project of Davao River Bridge Project ■ Exchange of letters on China bridge and road project in Marawi ■ Exchange of MOU on panda bonds issuance ■ Exchange of loan agreement on New Centennial Water Source Kaliwa Dam Project ■ Exchange of commercial contract of Safe Philippines Project Phase 1 ■ Exchange of framework agreement for industrial park ■ Exchange of contract for the project management consultancy of the PH National Railways South Long Haul Project - North-South Railway Project ■ Handover of letter of no objection to the organization of Renminbi-Philippine peso foreign exchange trading market ■ Handover of certificate of authority to operate for the Industrial and Commercial Bank of China Limited Manila branch.

porarily taking over as chairman is Leonard Tirol, owner of White House Resort, and a scion of the family identified as among the original landowners on the island. BFI will elect its new officers in July 2019. Separate sources in BFI said Chusuey did not submit any resignation letter “but he talked to us, the Board, that he resigned.” On Tirol’s personal Facebook page, he said Chusuey resigned due to “pressure

and frustration. He didn’t want the Foundation involved.” Another source confirmed this, adding, Chusuey “wanted to spare the BFI [from embarrassment],” referring to the fact that his resorts continued to be closed and in violation of several BIATF regulations, even as many of its members had already complied with government requirements. Meanwhile, Tourism Secretary Bernadette Fatima Romulo Puyat said the

company has already been refunding guests who booked at their resorts. The DOT ordered the refunds after it found Henann soliciting and accepting bookings/payments from clients even before the island was reopened on October 26. Romulo Puyat herself had received complaints from the booked guests about Henann. “I’m now getting messages that they have already been refunded,” she said.

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DOF to Peza: Justify big subsidies for firms, stop attacking tax reform By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) is asking the Philippine Economic Zone Authority (Peza) to explain to Filipino taxpayers why it insists on subsidizing at their expense the multibillion-peso dividends and profits of large corporations that do not actually need such perks, instead of supporting President Duterte’s directive to fix the corporate tax system. Finance Assistant Secretary Antonio Joselito G. Lambino II said Package 2 of the Comprehensive Tax Reform Program (CTRP) aims to rationalize tax incentives now enjoyed by just a select group of mostly big businesses located in large cities. It also aims to level the playing field for some 90,000 small and medium enterprises (SMEs) all over the country that currently pay the region’s highest corporate income-tax (CIT) rate of 30 percent. He said the Peza should be explaining their side to taxpayers rather than making an 11th-hour appeal to Duterte to reconsider his directive supporting CIT and fiscal incentives reform that, the DOF has insisted, will benefit more than 99 percent of businesses. Lambino said the proposed bill will actually continue to provide incentives to businesses, including SMEs, that will lead to increased investment inflows and create more jobs, contrary to notions that it will eliminate tax incentives altogether. “Peza [Director General Charito B. Plaza] is free to talk to the President. But the President already approved this CTRP as early as January 2018 in a Cabinet meeting and reiterated this in his State of the Nation Address [Sona]. We should not stand in the way of a presidential directive,” Lambino said.

Budget. . .

Continued from A1

Chairman Maria Carmen Zamora said the P3.757-trillion budget is the first annual cash-based budget of the Philippine government. The cash-based budget is equivalent to 19.3 percent of gross domestic product, which is marginally higher compared to the 18.9 percent in 2018. This is about P433 billion, or 13 percent higher than the 2018 cash-based equivalent of P3.324 trillion. Earlier, Zamora said the 2019 national budget will be approved on November 28. But senators asked the House of Representatives on Monday to approve and transmit immediately the 2019 national budget to the Senate for deliberations. Sen. Panfilo M. Lacson Sr. said the House should give senators enough time to scrutinize the budget before passing it, as Congress will go on Christmas break on December 12. While the Senate has already conducted hearings on various agency outlays at the committee level, it could not yet begin its plenary deliberations until the House-approved version of the 2019 budget is transmitted. Under the rules, the annual appropriation should emanate from the House. For fiscal year 2019, the education sector will get the lion’s share of the national budget while the Department of Public Works and Highways will receive the second highest allocation. The Department of the Interior and Local Government (DILG) w ill receive the third largest appropriation in 2019. The other top recipients shall be the Department of National Defense (DND), Department of Social Welfare and Development (DSWD), Department of Health (DOH), Department of Transportation (DOTr), Department of Agriculture (DA), the Judiciary and the Autonomous Region in Muslim Mindanao (ARMM),.

Lambino was responding to reports quoting Plaza as saying that she will talk to the President about her misgivings on the CIT reform bill pending in Congress. Disputing Plaza’s claim that neither Peza nor its locators were consulted in the crafting of Package 2, Finance Undersecretary Karl Kendrick T. Chua recalled that several consultations were held with Peza and other stakeholders. “In fact, we took into consideration Peza’s comments, which was why several changes were made to the original Package 2 proposal. During our consultations with Director General Plaza, she even agreed to the principles of Package 2—that it be performance-based, targeted, time-bound and transparent,” Chua said. Following such consultations with Peza officials and industry players, several adjustments were made to Package 2 to take into account their concerns including: retaining Peza’s power to extend incentives to most projects; keeping the one-stop-shop function; and retaining the provision “in lieu of local business taxes” on the grant of special rates for locators. Chua made it clear that the DOF remains open to discuss with Peza officials their lingering concerns about Package 2, in keeping with the President’s call to have this tax reform signed into law by the end of the year. The House of Representatives approved in September its version of CTRP Package 2, which it dubbed Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) Act. Meanwhile, the Senate is still deliberating on the CIT reform bill introduced by Senate President Vicente C. Sotto III and has called it the Corporate Income Tax and Incentives Reform Act.

In his budget message to Congress, President Duterte identified key budget priorities: 1) intensifying infrastructure development through infrastructure projects in and outside Metro Manila and in local government units (LGUs), and through information technology (IT) infrastructure; 2) expanding programs on human development; 3) enhancing social services through expanded educational opportunities, universal health for all, and social protection; 4) continuing provisions for the people’s basic needs by ensuring food security and securing meaningful employment; 5) rehabilitating Marawi and moving forward ; 6) building a more secure nation through the hiring of more police officers and enhancing the capability of the Philippine National Police and the Armed Forces of the Philippines, and ensuring efficient administration of justice.

2018 budget extension

THIS, as the House of Representatives on Tuesday adopted a resolution extending the validity of the 2018 budget for another fiscal year. In House Joint Resolution 32, the lower chamber seeks to extend the validity of 2018 appropriations for maintenance and other operating expenses (MOOE) and capital outlays to December 2019. The resolution, principally authored by Speaker Gloria Macapagal-Arroyo, said there are allocations that have not been released and allotment issued that have not been obligated, which shall automatically result in the reversion of the said unexpended appropriations to the unapproriated surplus of the general fund of the muchneeded MOOE and CO to fund priority projects, aid and relief activities, as well as maintenance and construction/repair and rehabilitation of schools, hospitals, roads, bridges and other essential facilities of the government. Lawmakers said extension of the 2018 is needed to fund government facilities that have been affected by recent calamities.

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UN tribunal ruling on WPS useless for now, but govt can use negotiation–Palace

Editor: Vittorio V. Vitug • Wednesday, November 21, 2018 A3

Govt’s war on drugs: Customs to inspect imported chemicals

By Rea Cu

@ReaCuBM

HE Bureau of Customs (BOC) has issued a circular that would subject all imported chemicals to mandatory inspection to prevent the entry of substances used in manufacturing dangerous drugs.

A FILIPINO-CHINESE group welcomes President Xi Jinping outside Naia Terminal 1 in Parañaque City as the Chinese leader arrived on Tuesday for a two-day state visit, the first by a Chinese president in 13 years. NONIE REYES By Bernadette D. Nicolas @BNicolasBM

HE arbitral ruling that handed the Philippines its victory in the West Philippine Sea cannot be enforced as it is, Malacañang said on Tuesday, while conceding that it remains valid because it allows the country to keep a claim that “will be there forever.” The Malacañang statement came on the same day that the Philippines welcomed Chinese President Xi Jinping amid the maritime dispute. It also comes on the heels of the release of survey results showing most Filipinos want stronger government action on the West Philippine Sea. In a Palace briefing, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo explained that neither the United Nations and the United States are enforcing the ruling, which invalidated China’s massive claims to the West Philippine Sea. “So, who will enforce it? Meanwhile, what are we going to do?” Panelo said. Sought for clarification on whether he meant that the ruling was useless, he said: “Yes. But as I said, we can get what we are supposed to have by negotiation.” He elaborated: “What the President is doing right now, since it cannot be enforced, is using another tack to get things that he wants to get from them through negotiation.” Duterte has been criticized for taking a softer approach in dealing with China, with some

quarters warning that the administration is virtually sacrificing the country’s sovereignty in exchange for investments, especially for its massive infrastructure program. Up to this day, China still does not recognize the ruling at The Hague and has since been criticized for its militarization of the West Philippine Sea. Moreover, Panelo said that perhaps the only way to resolve the dispute is if all the countries in the world will unite and pressure China. “In other words, there must be a collective action by the countries of the world and either persuade or pressure China into respecting an arbitral decision. We cannot give up this claim simply because it’s already ours. We have won it, and it will be there forever,” he said.

WPS inaction opposed

IN a related development, the Palace also defended the government’s tack in handling the maritime dispute, saying it has done its part to resolve the territorial dispute. This, after the majority of Filipinos opposed the government’s inaction in the West Philippine Sea dispute, according to the survey results released by Social Weather Stations also on Tuesday. “ We consider the question skewed, as it misleads the public to believe and suggests that the current government has not acted on China’s activities on the disputed areas in the West Philippine Sea. This is far from the truth.

The Duterte administration has been consistent in its stance in protecting our territorial claims and maritime entitlements. We have formed, together with the Chinese government, a bilateral consultation mechanism as an important venue in amicably resolving territorial disputes and to strengthen the momentum of cooperation in matters of common interest, such as the protection of our fishermen. We, therefore, view the results with skepticism, as the reliability of the data is in question,” Panelo said. The Palace also said it understands the survey findings showing Filipinos having a high distrust of China compared to countries like United States and Japan. Of the five specific countries tested for public trust in September 2018, net trust ratings were “very good “ for United States, “moderate” for Japan, Malaysia and Israel, and “poor” for China. “…We have to underscore the fact that the United States and Japan are our traditional allies; hence it is expected that there is higher level of trust in these two countries. Our country’s renewed ties with our giant neighbor in the North provides us a welcome opportunity for the public to know and understand China better. It does not happen overnight, but we are confident that a more favorable public appreciation of China would happen in the future,” he said, adding that the people’s level of trust with China has improved “dramatically” since President Duterte took office in 2016.

The BOC issued Customs Memorandum Circular (CMC) 2282018 placing on alert status all importations of chemicals. The move was in line with the call of President Duterte for all government agencies to be active in the war against illegal drugs. The CMC was signed by Customs Commissioner Rey Leonardo B. Guerrero and was issued upon the request of the Philippine Drug Enforcement Agency (PDEA). “All importations of chemicals are hereby placed on alert status and shall be subjected to nonintrusive inspection for possible presence of controlled precursor and essential chemicals used to manufacture dangerous drugs, in diluted, mixtures or in concentrated form, as well as packaging, repackaging, labeling, relabeling or concealment of such chemi-

cals, through fraud, destruction of documents, fraudulent use of permits, misdeclaration, use of front companies or mail fraud,” the CMC read. Last week, Malacañang issued Memorandum Circular (MC) 53 instructing all agencies to be active in the administration’s war against illegal drugs. The circular was signed by Executive Secretary Salvador C. Medialdea. MC 53 also called for the activation of the National AntiIllegal Drug Task Force, which will oversee efforts of the government to eradicate the drug problem in the Philippines. The interagency task force is composed of personnel from the Philippine National Police, Armed Forces of the Philippines (AFP), BOC and the Philippine Coast Guard (PCG), among others.

The task force “is also envisioned to provide necessary personnel complement to implement the directive of the President to the BOC to stop the flow of illegal drugs into the country.” In 2017, the President issued Executive Order 15, creating the Inter-Agency Committee on AntiIllegal Drugs and the National Anti-Illegal Drug Task Force to fight illegal drugs. On Monday, the BOC signed a Memorandum of Agreement (MOA) with the AFP, as well as the PCG, a move that is expected to strengthen cooperation among the agencies. The customs chief, AFP Chief of Staff Gen. Carlito G. Galvez Jr. and PCG Commandant Adm. Elson E. Hermogino signed the MOA at the Port of Manila on Monday. Under the MOA, the three agencies will pursue areas of cooperation in line with capacity building: monitoring; support mechanism; exchange of information; operating protocols and parameters; identifying opportunities and channeling of resources for research activities; and exploring other forms of cooperation. Galvez said an estimated 600 personnel—300 from the AFP and 300 from the PCG —w ill be assigned to the BOC for six months to help combat corruption and smuggling.

Faeldon’s BuCor appointment papers signed by Duterte, DOJ chief says By Joel R. San Juan @jrsanjuan1573

ORMER Bureau of Customs (BOC) Commissioner Nicanor E. Faeldon may now assume the position of chief of the Bureau of Corrections (BuCor) following the signing of his appointment papers by President Duterte. This was confirmed by Justice Secretary Menardo I. Guevarra, who was earlier “baffled” by Faeldon’s silence over the President’s offer for him to lead the BuCor. Guevar ra’s pronouncement prompted Faeldon to break his silence and disclose that the reason for his failure to report as BuCor chief was the lack of official appointment from the Palace. Faeldon will be replacing retired Philippine National Police Chief Ronald dela Rosa as BuCor chief

after the latter resigned last month to pursue his senatorial bid in next year’s elections. “Nicanor Faeldon’s appointment papers as director general of the BuCor have been signed by the President and ready for release by the executive secretary,” Guevarra told reporters. He also said Faeldon has expressed his desire to take his oath before him on Wednesday prior to officially assuming his post which coincided with the 113th anniversary of the BuCor, an attached agency of the Department of Justice (DOJ). The BuCor is tasked to oversee and manage operations of the New Bilibid Prison in Muntinlupa City, Correctional Institute for Women in Mandaluyong City and other penal colonies in the provinces.

It can be recalled that Faeldon’s appointment was announced by the President last month but the former customs commissioner has kept silent over it until his appointment paper is released. T he DOJ secretar y earlier asked the Civil Service Commission to evaluate and endorse Faeldon to the Office of the President as part of the requirements for his appointment. Faeldon was forced to resign as customs chief after his name was dragged into the P6.4 billion worth of shabu that was purportedly smuggled into country last year. Dr ug-related charges were filed against Faeldon and several other customs official in connection with the illegal shipment, but it was eventually dismissed by the DOJ.

A4 Wednesday, November 21, 2018 • Editor: Vittorio V. Vitug

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5 Asian traders to supply rice to PHL

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE National Food Authority (NFA) said on Tuesday that five traders from Asia are poised to supply the 500,000 metric tons (MT) it needs to beef up its buffer stock. NFA Deputy Administrator Judy Carol Dansal said the food agency is “happy” with the outcome of the bidding, which she described as “very successful.” The government conducted an open tender involving 14 compliant traders and companies. The NFA is importing rice under the governmentto-private sector scheme. Singapore-based Olam International Ltd. is set to supply the majority of the 500,000 MT as it made the lowest offers in four lots, which amounted to 210,000 MT. Vietnamese firm Tan Long Group Joint Stock Co., pitched the lowest bid for Lot 2 at $459 per MT for 118,000 MT, which will be discharged at Subic port. Myanmar-based Shwe Wah Yaung Agriculture Products Co. Inc. may secure Lot 4 to supply 40,000 MT

bound for Tabaco at its offer of $418.65 per MT. Thai firms Asia Golden Rice Co. Ltd. had the lowest bids for Lots 6 ($458 per MT) and 7 ($439.75 per MT), which has total volume of 99,000 MT, while Thai Capital Crops Co. Ltd. may secure Lot 8 (45,000 MT) for its offer of $439.75 per MT. The food agency claimed that it may save some $14.488 million (P789.625 million) from the tender as the bids of the five Asian traders, which amounted to $220.511 million (P12.017 billion), were lower than the food agency’s total budget of $235 million (P12.807 billion). The “successful” auction of the NFA comes after its governmentto-government (G2G) bidding for 203,000 MT of rice failed last week. Offers from Thailand and Vietnam were rejected, as these

By Lorenz S. Marasigan @lorenzmarasigan

A MAN arranges sacks of National Food Authority (NFA) rice at the agency’s warehouse in Quezon City in this file photo. Following an auction held on Tuesday, the NFA said five traders from Asian countries will supply 500,000 metric tons of rice to the Philippines.

were higher than the reference price of the food agency. The NFA is expected to rebid the 203,000 MT rice imports via the G2G mode this week, as the government is racing to end the

year with a bigger rice inventory. The food agency is beefing up its rice stockpile in line with the order of President Duterte to fill government’s warehouses with the staple to ensure the availability of NFA rice.

The NFA’s buffer stock was depleted earlier this year as the food agency was unable to purchase palay from local farmers and it was not allowed to import rice by the NFA Council, its highest-policy making body.

Inflation, 2019 polls seen slowing online recruitment in PHL By Cai U. Ordinario

@cuo_bm

HE surge in inflation in recent months and the uncertainty that the 2019 elections bring could dampen online hiring prospects in the Philippines, according to Monster.com. Online hiring in the country, however, still remained robust with a 17-percent year-on-year increase in September. But compared to the previous quarter, online hiring slowed to only 3 percent. The average growth of the Monster Employment Index for the third quarter, or the July-to-

September period, was 17.67 percent. July and August online hiring growth was at 18 percent. “The high inflation rate in the Philippines continues to concern businesses and foreign investors. The government itself has slashed its economic outlook for the remainder of 2018 due to an expected increase of the country’s inflation rate,” Monster.com said. “The outcome of next year’s general elections could put a hold on the ‘Build, Build, Build’ program initiated by the Duterte government and change this trajectory,” it added. In the Philippines, Monster.com

Govt to spend P688.02M for repair, rehab of four airports

said among industries, retail posted the most notable annual growth, while among job-roles, Purchase/ Logistics/ Supply Chain recorded the steepest decline in the third quarter. To ensure online hiring remains healthy in the Philippines, the national government must invest in information and communications technology infrastructure. This will ensure Internet companies continue to contribute to e-commerce success in the country. E-commerce businesses in the region are growing, such as Lazada, Zilingo or Amazon, both the logistics and IT sectors are likely to ben-

efit from the upswing. E-commerce in Southeast Asia is expected to grow to $88 billion by 2025. “The expected explosive growth in ecommerce spending will not only affect the IT and logistics sectors but will also heavily reach into other industries, ranging from financial services and marketing to customer services and advertising,” Monster.com said. In the region, Monster.com said the trade conflict between the United States and China is contributing to higher interest rates and dampening economic growth. These challenges must be faced

head on by economies in the region in order to maintain the region’s high-economic growth, according to Monster.com. While Malaysia’s economy is still trying to regain drive after its change of government earlier this year, both the Philippines and Singapore are set for general elections in 2019. “Although this is unlikely to affect Singapore’s economy in a drastic manner, a political shift in the Philippines could create uncertainties for already planned infrastructure projects in the countries, according to a report by S&P Global Ratings,” Monster.com said.

HE Department of Transportation has allotted more than half-a-billion pesos and has partnered with the Department of National Defense to repair, rehabilitate and expand four airports in Luzon and Mindanao. Transportation Secretary Arthur P. Tugade and Defense Secretary Delfin N. Lorenzana signed late on Monday a memorandum of agreement that will jump-start the infrastructure development of the airports in Laoag, Vigan, Cotabato and Tawi-Tawi. Under the deal, the transportation department will allocate P688.02 million for the asphalt overlay of runway and strip grade correction of the Laoag International Airport, the runway extension of the Vigan Airport, asphalt overlay of the runway of Cotabato Airport and the construction of perimeter fence and embankment of the Sanga-Sanga (Tawi-Tawi) Airport. “I hope this is just the beginning of many wonderful days to come, where the national defense can walk handin-hand with transportation in trying to fulfill the mandate of making the Filipino life comfortable,” Tugade said. The Philippine Army’s infrastructure-development arm will undertake the airport projects. “I welcome and will see to it that together, we can implement and finish these projects on time in accordance with the approved plans and designs,” Lorenzana said. The improvement of the four airports is expected to boost the “Build, Build, Build” program of the government. The BBB is an initiative aimed at rolling out big-ticket infrastructure projects to create more jobs and cut poverty incidence. The BusinessMirror sought for further details on the memorandum, but none responded as of press time.

DOLE to release DOE racing to bring electricity to all rural areas by 2020 IRR of workers’ T safety law soon By Samuel P. Medenilla

@sam_medenilla

HE government may finally start implementing Occupational Safety and Health Standards (OSHS) law, or Republic Act (RA) 11058 next month, as the Department of Labor and Employment (DOLE) is now rushing to complete its IRR. During 16th National Occupational Safety and Health (NOSH) Congress on Tuesday in Pasay City, Sen. Emmanuel Joel J. Villanueva announced that the DOLE has committed to present the IRR in December. “We are just waiting for the IRR from the DOLE before their anniversary, which is next month. This is a welcome development,” Villanueva told reporters in an ambush interview. Labor Secretary Silvestre H. Bello III confirmed they will come out with the guidelines “soon” to boost the government’s campaign against OSHS violations. While they still prefer companies to address their deficiencies, he said the new law will enable to provide stronger sanctions for consistent OSHS violators. “The penalties [for erring companies] are no joke since they will not only be fined but also face imprisonment,” Bello said. The labor chief admitted enforcing OSH nationwide remains a “daunting challenge” for the DOLE due to the shortage of labor inspectors. “There are almost a million establishments and we only have around 1,000 inspectors,” Bello said. To address this, the DOLE unveiled yesterday its “Be an OSH Champion: Vision 1 Million,” where they will tap thousands of safety and health experts to mainstream OSH in workplaces. “That is why we need this group so inspection of business establishments to see if they are compliant [with the OSHS law],” Bello said. Despite its more stringent regulations, labor groups said RA 11058 still has “ambiguous” provisions that must be ironed out in its IRR. A similar concern was separately aired by employer groups. Employers want the OSHS law to have clear rules of engagement, as they worried that labor inspectors might get “overzealous” in finding fault in establishments.

@llectura

HE Department of Energy (DOE) said it will assemble a team that would help the agency bring electricity to all households, particularly in rural areas, by 2020. Energy Secretary Alfonso G. Cusi met with officials and board of directors of the National Electrification Administration and Philippine Rural Electric Cooperatives Association Inc. last Monday to discuss the recent developments and status of electrification. “Our battle cry is to provide electricity for all. We have to rush providing electricity. By 2020 all households must have electricity based on the 2015 census,” Cusi said. He also sought the electric cooperatives’ help and “honest efforts” to engage the DOE with the processes that need to be improved. Moreover, he urged the cooperation of energy regulatory agencies in coming up with a master plan to be submitted by the end of the month. Cusi said there is a need to create a project management team to be headed by Assistant Secretary Redentor E. Delola and Director Mario C. Marasigan. “The entire energy family is working together to enhance measures on how to make energy services more reliable and sustainable,” said the energy chief. Earlier, Cusi vowed to remove the barriers to rural electrification after President Duterte directed the DOE and the Energy Regulatory Commission (ERC) to focus on the electrification of the unserved areas of the country. The President told the agencies that he wanted to remove the barriers that are blocking the entry of the pri-

FILE PHOTO

By Lenie Lectura

vate sector to provide better options and more choices for communities. The President instructed the DOE and the ERC to initiate bold executive actions to allow the entry of the private sector so that the Filipino consumers can have access to adequate and affordable electricity that will redound to more economic and social benefits.

“The wisdom of the President is using emerging technologies targeting far-flung barangays which have had no power. The DOE is fully committed in pursuing his directive,” Cusi said. Last month, 16 foreign firms expressed interest to partner with electric cooperatives to put up clean-energy mini grids. This was according to the post-

event survey conducted by the Alliance for Rural Electrification (ARE) that co-organized the first-ever Philippines Mini-grid Business-toBusiness (B2B) Forum in Manila. More than 280 technology providers, project developers and investors from Asia, Europe and North America took part in the Philippines Minigrid B2B forum.

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

The World BusinessMirror

Malaysia, Japan, Philippines among nations that benefit from US-China trade war

SIA, at the broad level, will lose from the United States-China trade war, but a few countries will emerge as relative winners. Nomura Holdings Inc. found that a push by companies in the US and China for import substitution toward the rest of Asia will benefit Malaysia in particular, followed by Japan, Pakistan, Thailand and the Philippines, based on its analysis of specific products on the list of tariffs. At the same time, Vietnam is the clear winner from companies switching production from China, followed by Malaysia, Singapore and India. “As the saying goes, ‘when two quarrel, the third rejoices,’” analysts including Rob Subbaraman and Trevor

Kalcic wrote in a note on Tuesday. For BlackRock Inc., Thailand has the advantage in automotive production. The nation is the largest manufacturing center of cars in Southeast Asia, according to the International Organization of Motor Vehicle Manufacturers. “We are positive on Thai baht,” Neeraj Seth, Singapore-based head of Asian credit at BlackRock, said at a briefing in the island state. “From a relative perspective, Thailand is one of the possible beneficiaries of some of these trade tensions which could potentially

ARREST OF NISSAN CHAIRMAN GHOSN IN FINANCIAL PROBE STUNS JAPAN

OKYO—The arrest of Nissan Motor Co.’s chairman Carlos Ghosn amid a financial probe prompted by a whistle-blower caused the automaker’s shares to tumble on Tuesday and left many in Japan and elsewhere stunned by his downfall. Prosecutors said they were holding Ghosn for allegedly collaborating to falsify securities statements and underreport Ghosn’s income. A second Nissan executive, Greg Kelly, was also suspected of collaborating with him to underreport some $44.6 million in Ghosn’s income from 2011 to 2015. “It’s extremely regrettable,” Chief Cabinet Secretary Yoshihide Suga told reporters. “We will watch developments closely.” The scandal abruptly threw into question Ghosn’s future as leader of the Renault-NissanMitsubishi alliance, which sold 10.6 million cars last year, more than any other manufacturer. Ghosn was arrested on Monday, and Nissan’s CEO Hiroto Saikawa said the company’s board will meet on Thursday to approve his dismissal. Prosecutors refused to say where he was being held in Tokyo. There was no word from Ghosn himself. Investigators reportedly waited at Tokyo’s Haneda airport for his arrival on a private jet returning from overseas and arrested him after questioning. Japanese media avidly detailed allegations against Ghosn as prosecutors stepped up their investigation. The national broadcaster NHK said investigators suspect Ghosn, who was in charge of allocating pay for Nissan’s 13 top executives, siphoned off part of that remuneration. Reports said Ghosn also is suspected of misusing company funds on his company-issued housing for personal use in Lebanon, Paris, Amsterdam and Rio de Janeiro, where his apartment is on the wealthy Copa Cabana beach strip. Ghosn is suspected of not paying his full share of the rent on the housing, which Nissan spent several billion yen (several hundred million dollars) to buy and renovate for Ghosn’s use, NHK said. The Brazilian-born executive became one of the auto industry’s most powerful executives by engineering a turnaround at Nissan over two decades. He championed bringing electric and autonomous cars to the masses, overcoming resistance within Nissan and Renault and betting early on that emissions crackdowns eventually would put gasoline and diesel cars out of reach. Ghosn immediately commanded attention upon entering a room and is a towering figure in France, where Renault is one of the heavyweight industrial survivors. He has met repeatedly with the past four French presidents; no major economic event in France was held without Ghosn. In Beirut, where Ghosn’s Lebanese heritage is a source of pride, Foreign Minister Gibran Bassil issued a statement saying he had instructed the Lebanese ambassador in Tokyo to follow the case and ensure he gets fair treatment. Ghosn represents “a model of Lebanese success abroad, and the Lebanese foreign

ministry will stand by him in his crisis to make sure he gets a fair trial,” Bassil said. But in Japan, where top foreign executives are scarce and even the biggest bigwigs tend to keep a low profile, his status was ambivalent. In a 90-minute news conference late Monday night, Nissan’s Saikawa said power in the company had been too concentrated in Ghosn, and the company was overdue for some change. Repeatedly questioned over how the company could have let financial misconduct persist for so long, Saikawa said systems inside Nissan limited transparency. The scandal was a “negative outcome of the long regime of Mr. Ghosn,” he said. Ghosn officially still leads the RenaultNissan-Mitsubishi alliance as CEO and chairman. But experts said it’s unlikely he will be able to stay on there or at Renault, where he is still CEO. Renault said its board will hold an emergency meeting soon and would only act after hearing from Ghosn himself. Companies in the alliance own parts of each other and share investments in new technologies, among other things. Renault owns 43 percent of Nissan, which owns 15 percent of Renault and 34 percent of Mitsubishi. A press release from prosecutors said Ghosn and Kelly allegedly collaborated to underreport Ghosn’s income as ¥4.99 billion ($44 million) when it actually was almost ¥10 billion ($88 million), submitting falsified securities statements to the regional finance bureau. The compensation from Nissan, generous by Japanese standards, was only a part of Ghosn’s overall income since he also was paid salaries by the automaker’s alliance partners Renault SA and Mitsubishi Motor Corp. Nissan’s shares fell 5 percent in Tokyo trading on Tuesday. Shares in Renault plunged 8.4 percent in Paris on Monday. A next step by prosecutors was expected soon. Police can hold suspects without charge for days, but prosecutors have only 48 hours to decide whether to press charges. If they decide they need more time, they can hold a suspect for up to 20 more days. The allegations are a serious blow at a time when Nissan and its alliance partner Mitsubishi are still recovering from scandals over altered results for emissions and fuel economy tests on vehicles sold in Japan. Ghosn signed a contract this year that would have run through 2022. Of French, Brazilian and Lebanese background, he lives in both Japan and France, where he earlier turned Renault around, making it a global player. Nissan has provided only limited details about the case against Ghosn, which resulted from a months’ long investigation prompted by a whistle-blower. Apologizing repeatedly, Nissan CEO Saikawa vowed to improve the company’s governance but provided only limited details about the case, saying he was constrained because of the criminal investigation underway. “Beyond being sorry I feel great disappointment, frustration, despair, indignation and resentment,” Saikawa said. AP

improve their foreign direct investment [FDI] and balance of payments going into the next few years.”

Laggards

OF the 13 countries in its analysis, Bangladesh, India and South Korea are the least likely to gain from import substitution. Pakistan benefits least from the diversion of production and FDI. “The biggest benefit to Malaysia is likely to come from electronic integrated circuits, liquefied natural gas and communication apparatus,” according to Nomura. There is usually one leading product for others; such as vehicles with only spark-ignition internal combustion reciprocating piston engines in Japan, cotton yarn in Pakistan, units of automatic data processing in Thailand and electronic integrated circuits in the Philippines, it said. Bloomberg News

OIL HOLDS NEAR $57 AS INVESTORS WEIGH O.P.E.C. PRODUCTION PLANS, I.E.A. WARNING

IL traded near $57 a barrel as traders assessed the Organization of the Petroleum Exporting Countries’s (Opec) plans to cut production, while its key ally Russia and a top energy adviser warned suppliers against making a hasty decision on cutbacks. Front-month futures were little changed in New York after rising 0.9 percent on Monday. the Opec and its partners need to watch the market in the coming weeks before making any decisions to trim output, said Russian Energy Minister Alexander Novak. International Energy Agency (IEA) Executive Director Fatih Birol also warned that reducing supplies may have some negative implications as the producer group will meet in Vienna early December to discuss supply curbs. Crude markers in New York and London have both fallen more than 20 percent from their October highs on concerns over a supply glut after the United States granted waivers to some countries to buy Iranian oil despite sanctions. While trade tensions between China and America cripple the outlook for oil demand, Saudi Arabia’s oil policies aim to preserve market stability, the nation’s king said during his first major public address since the killing of prominent journalist Jamal Khashoggi. “The Organization of Petroleum Exporting Countries and its key allies have proven they have much influence over prices,” said Stephen Innes, Singapore-based head of trading for Asia Pacific at Oanda Corp. “Oil market had a lot of noise thrown at it overnight, IEA notwithstanding, but still bounced back, suggesting details of December 6 meeting should provide a stable platform for prices over the near term.” West Texas Intermediate (WTI) for January delivery traded at $57.11 a barrel on the New York Mercantile Exchange, down 9 cents, at 7:29 a.m. in London. The December contract, which expired on Monday, gained 0.5 percent to $56.76. Total volume traded was slightly below the 100-day average. Brent for January settlement dropped 43 cents to $66.36 a barrel on the London-based ICE Futures Europe exchange. The contract closed 3 cents higher at $66.79 on Monday. The global benchmark crude traded at a $9.42 premium to WTI for the same month. Russia’s wait-and-see stance to not immediately join Saudi counterpart Khalid AlFalih in calling for a broad production cut shows their different positions persist just weeks before the key Opec+ summit in the Austrian capital. While Russia pointed out the need for a “balanced decision,” the kingdom had sought for curbs of about 1 million barrels a day. IEA’s Birol also continued to warn Opec and its partners against the impact of resuming supply cuts. He said the market needs to note that “spare capacity in Saudi Arabia is very thin, therefore cutting the production significantly today by key oil producers may have some negative implications for the market.” Bloomberg News

Wednesday, November 21, 2018

A6 Wednesday, November 21, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Reengineering food

UPERMARKET shelves in the United States would soon be featuring the next generation of biotech food. An Associated Press report, for example, revealed the advent of granola bars made with genetically tweaked soybean oil that is hearthealthy. Foods from plants or animals that had their DNA “edited” are expected to begin selling by early next year. “Gene editing” is a different technology than the socalled genetically modified foods. It is “more like faster breeding that promises to boost nutrition, spur crop growth and make farm animals hardier, and fruits and vegetables last longer.” These food items may also be shipped to the Philippines but it would certainly take time. Genetically modified organisms have yet to gain wide acceptance among Filipinos. This, despite the fact that the Philippines is regarded as a leader in biotechnology in the region due to the stringent regulations it uses prior to approving the propagation and commercialization of new biotech products. The Philippines embraced biotechnology when the Department of Agriculture issued Administrative Order 8 in April 2002. The AO outlined the regulations for the importation and release into the environment of plants and plant products derived from the use of modern biotechnology. The order was issued more than a decade after the government issued Executive Order 430, which recognized the potential of biotechnology in improving the lives of Filipinos, on October 15, 1990. The first product that was approved for propagation and commercialization was Bacillus thuringiensis corn. Filipino farmers started planting genetically modified corn in 2003. Bt corn, which is resistant to pests such as corn borers and cutworm, has allowed farmers to significantly increase their corn production. A report from the International Service for the Acquisition of Agri Biotech Applications revealed that farmers earned an estimated $642 million from planting GM corn in 2003 to 2015. It appears, however, that the Philippines stopped at GM corn. No new crop has been approved for commercialization and efforts to introduce genetically modified ones have been met with resistance from groups that ask the Supreme Court to stop the field testing of crops like Bt eggplant. It was in 2012 when some groups asked the Supreme Court to stop the fieldtesting of Bt eggplant. While the field-testing of the crop was completed in 2012, proponents had to wait for four years before they could proceed to commercial cultivation of the crop. Apart from the challenges posed by advocacy groups, the Joint Department Circular 1 is also making it more difficult for biotech proponents to make certain GM crops commercially available. JDC 1, which replaced AO 8, is being blamed for the delays in the processing of permits for GM crops. The US Department of Agriculture has even warned that the Philippines could lose its status as Asia’s leader in biotechnology if Manila would continue its foot-dragging in giving out permits for GM crops. Proponents of Bt corn have long addressed fears over the safety of GM crops. Despite the claims made by those who oppose the technology, they have yet to show definitive proof that the planting and ingestion of GM corn have made people sick or caused mortalities. The noise created by opponents should not drown out the rational voice of scientists who have extensively studied the technology and have proven that it could help eliminate hunger. The government should do well to remember that the noise of those opposed to biotechnology would not feed millions of Filipinos who continue to sleep on empty stomachs.

PHL supports practical and doable initiatives to protect human rights Teddy Locsin Jr.

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HE past years of my country’s work in the Human Rights Council have been challenging and enriching. They have strengthened our resolve to promote and protect human rights and uphold common aspirations of people everywhere to live with dignity and in safety. “The council should be a partner of states and other stakeholders in this endeavor. As the council finds ways to enhance efficiency and effectiveness, the Philippines commits itself to supporting practical and do-

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Leonid Bershidsky

BLOOMBERG

OR decades, every sign Russia and Japan had made progress in talks on disputed territories and a post-World War II peace treaty turned out to be a false alarm. This time may be different: Both Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe need a deal more than their predecessors did.

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

to pursue if reelected: the Philippines will work to enhance domestic implementation of all human rights treaty obligations and programs—especially by eradicating extreme poverty because the most vulnerable are the easiest victims of human-rights violations. “We will promote respect for the rule of law and fulfillment of

internationally agreed development goals; because the better the living standard, the better are people able to know and defend their human rights and call attention to their violations. We uphold the necessity of the Universal Periodic Review, recognizing its potential to effect real change through constructive dialogue and international cooperation. The most effective protection of human rights is that extended by states and governments, which must be made aware of their responsibility to protect their peoples from lawlessness, and timely reminded when they fall short of that defining responsibility. It is in this spirit that, together with other APG candidate states, Bangladesh, Bahrain, Fiji and India, the Philippines seeks your support at the elections to be held on October 12, 2018. Thank you.”

Russia and Japan could finally end WWII

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able initiatives, and make the council better able to fulfill its mandate to promote and protect human rights all over the world. “I wish to highlight some of the work the Philippines intends

“I wish to highlight some of the work the Philippines intends to pursue if reelected: the Philippines will work to enhance domestic implementation of all human rights treaty obligations and programs—especially by eradicating extreme poverty because the most vulnerable are the easiest victims of humanrights violations.”

Putin and Abe met in Singapore last week and agreed to speed up talks on a peace treaty their two countries negotiated after World War II but the Soviet Union refused to sign. The talks will be based on a joint declaration the Soviet Union and Japan signed in 1956, since abandoned by both sides, that required the Soviet Union to hand over to Japan the island of Shikotan and the Habomai islets once a peace treaty was signed. In recent years, Japan has insisted on the handover of two more islands, Etorofu (Iturup) and Kunashiri (Kunashir), and Russia has refused to cede any territory at all. Both sides have strong misgivings about a compromise based on the 1956 declaration. For Japan, it would mean losing the leverage to claim much bigger territory (Etorofu and Kunashiri account for 93 percent of the land area of the disputed islands). For Russia, a deal is important (symbolically for the most part) to make sure no US military

bases are placed on Shikotan and Habomai, something Abe reportedly promised to Putin but may be unable to rule out under existing Japanese commitments to the US. Besides, the return of any of the islands, seized by the Soviet Union in the final days of World War II, is extremely unpopular in today’s Russia. Over the years, polls have consistently shown that 70 percent to 90 percent of Russians reject such a handover. Putin’s predecessor, Boris Yeltsin, was at several points close to ceding some territory to Japan, but he always stepped back, fearing a powerful backlash from Communist and nationalist rivals. Now, both Abe and Putin really want to put the matter behind them. Abe’s primary interest is his legacy. If he can keep his job until the next scheduled election in 2021, he would be the longest-serving Japanese prime minister. But economic growth, spurred by his generous stimulus policies, has started to slow this year, and his tenure isn’t

assured. He needs an important win to stay in power and ensure his place in history. A deal with Russia, though it would face some domestic opposition, could be perceived as such a victory when confidence in Abe’s foreign policy is flagging: Japanese voters are more open to a compromise than Russians. Putin’s interest is both economic and geopolitical. A deal with Japan would potentially open the flow of Japanese investment to Russia’s Far East, a vast, underdeveloped region where Russia needs to counterbalance a growing Chinese influence. Improving relations with Japan would also help Putin in his search for alternatives to cooperation with the West. He knows by now that US economic sanctions and weaker European restrictions are here to stay, so he’s working feverishly to buttress other partnerships in the Middle East and Asia. On Monday Putin and Turkish President Recep Tayyip Erdogan watched a Russian natural gas pipeline make landfall in Turkey; Japan, too, is a potential customer for Russian pipeline gas, but giant projects like building a delivery system are unimaginable without a peace treaty. Putin is playing for high stakes, and Shikotan and Habomai, a little more than 100 square miles of inhospitable land with a population of about 2,000, wouldn’t be a huge loss by comparison, except politically. The Russian social networks are rife with speculation about a possible handover, and the comments aren’t flattering to Putin. “How loudly we ‘took’ Crimea and how quietly we’re giving up the islands” is a typical

sentiment. Putin is being accused of selling Russian land because his regime has mishandled Russia’s windfall from high oil prices in the 2000s. In recent months, however, Putin appears to have made peace with his falling approval rating. He disregarded public opinion as he pushed through a highly unpopular retirement-age increase. The absence of serious protests must have persuaded him he can make unpopular decisions during what is, according to the Russian constitution, his last term in power unless he wants to attempt a comeback after a sixyear break. This doesn’t mean he won’t drive a hard bargain on the islands. On Sunday Putin’s press secretary Dmitry Peskov said accepting the 1956 declaration as a basis for negotiations doesn’t mean “an automatic transfer of any territories.” Russia will likely discuss handing over the islands without losing sovereignty, on the basis of a lease or a joint governance deal. There will also be demands for firm guarantees that the US will keep away from the islands and that certain Japanese investment projects and energy deals will follow the peace treaty. Whether Abe can live with any of the Russian demands is uncertain: He can kick the can down the road if the deal doesn’t look like a clear win. But, knowing how difficult it can be, the Japanese prime minister has agreed to speed up the talks and hold additional meetings with Putin. It’s still likely that they’ll produce another dud—but less likely than on any previous occasion during Putin’s long rule.

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The New Economy and the Trump Rump

NDCP and national security Florante S. Solmerin

FACT IS MIGHT!

Paul Krugman

NEW YORK TIMES

LITTLE over a year ago, Amazon invited cities and states to offer bids for a proposed second headquarters. This set off a mad scramble over who would gain the dubious privilege of paying large subsidies in return for worsened traffic congestion and higher housing prices. (Answer: New York and greater D.C.) But not everyone was in the running. From the beginning, Amazon specified that it would put the new facility only in a Democratic congressional district. OK, that’s not literally what Amazon said. It only limited the competition to “metropolitan areas with more than 1 million people” and “urban or suburban locations with the potential to attract and retain strong technical talent.” But in the next Congress the great majority of locations meeting those criteria will, in fact, be represented by Democrats. Over the past generation, America’s regions have experienced a profound economic divergence. Rich metropolitan areas have gotten even richer, attracting ever more of the nation’s fastest-growing industries. Meanwhile, small towns and rural areas have been bypassed, forming a sort of economic rump left behind by the knowledge economy. Amazon’s headquarters criteria perfectly illustrate the forces behind that divergence. Businesses in the new economy want access to large pools of highly educated workers, which can be found only in big, rich metropolitan areas. And the location decisions of companies like Amazon draw even more high-skill workers to those areas. In other words, there’s a cumulative, self-reinforcing process at work that is, in effect, dividing America into two economies. And this economic division is reflected in political division. In 2016, of course, the parts of America that are being left behind voted heavily for Donald J. Trump. News organizations responded with many, many, many profiles of rural Trump supporters sitting in diners. But this was, it turns out, fighting the last war. Trumpism turned America’s lagging regions solid red, but the backlash against Trumpism has turned its growing regions solid blue. Some of the reporters interviewing guys in diners should have been talking to college-educated women in places like California’s Orange County, a former ultraconservative stronghold that, come January, will be represented in Congress entirely by Democrats. Why have lagging regions turned right while successful regions turned left? It doesn’t seem to be about economic self-interest. True, Trump promised to bring back traditional jobs in manufacturing and coal mining—but that promise was never credible. And the orthodox Republican policy agenda of cutting taxes and shrinking social programs,

which is basically what Trump is following in practice, actually hurts lagging regions, which depend a lot on things like food stamps and disability payments, much more than it hurts successful areas. Furthermore, there is little if any support in voting data for the notion that “economic anxiety” drove people to vote for Trump. As documented in Identity Politics, an important new book analyzing the 2016 election, what distinguished Trump voters wasn’t financial hardship but “attitudes related to race and ethnicity.” Yet, these attitudes aren’t divorced from economic change. Even if they’re personally doing well, many voters in lagging regions have a sense of grievance, a feeling that they’re being disrespected by the glittering elites of superstar cities; this sense of grievance all too easily turns into racial antagonism. Conversely, however, the transformation of the GOP into a white nationalist party alienates voters—even white voters—in those big, successful metropolitan areas. So the regional economic divide becomes a political chasm. Can this chasm be bridged? Honestly, I doubt it. We can and should do a lot to improve the lives of Americans in lagging regions. We can guarantee access to health care and raise their incomes with wage subsidies and other policies (in fact, the earned-income tax credit, which helps low-wage workers, already disproportionally benefits workers in low-income states). But restoring these regions’ dynamism is much harder, because it means swimming against a powerful economic tide. And the sense of being left behind can make people angry even if their material needs are taken care of. That is what we see, for example, in the former East Germany: Despite huge financial aid from the west and generous social programs, “Ossis” feel aggrieved by what they see as second-class status, and they have given many of their votes to extreme right-wing parties. So the bitter division we see in America—the ugliness infecting our politics—may have deep economic roots, and there may be no practical way to make it go away. But the ugliness doesn’t have to win. Most rural white voters still support Trumpism, but they aren’t a majority, and in the midterms a significant number of those voters also broke with the white nationalist agenda. America, then, is a divided nation, and is likely to stay that way for a while. But the better angels of our nature can still prevail.

ONGRATULATIONS to all the members of Batch 27 for completing the five-day Executive Course on National Security (ECNS) given by the National Defense College of the Philippines (NDCP). The NDCP, which is based in Camp Aguinaldo, Quezon City, is the one and only education, training, and research agency that focuses on strategic defense and national security (www.ndcp.edu.ph). NDCP was recognized as an institution due to its proactive discourses among the defense departments and armed forces of different countries promoting peace, world relations and cooperation, and international environmental protection. The NDCP is under the Department of National Defense (DND) under the current leadership of Secretary Delfin N. Lorenzana. The

NDCP is under the administration of retired Navy Admiral Roberto Estioko as president and retired Air Force General Rolando Jungco Jr. as executive vice president. I’m in awe of the expertise of the lecturers like National Security Adviser (NSA) retired AFP Chief of Staff Hermogenes C. Esperon Jr., Budget Secretary Benjamin E. Diokno, former Defense Secretary Norberto Gonzales, and other highranking government officials and personalities from different premier universities in the country. To be included in the ECNS is a privilege due to its limited participants as set by the NDCP. So I think

Too rich to jail

By Eli Lake

MAGINE an alternative history of New York City in which John Gotti becomes police commissioner and obtains arrest warrants for the US attorneys who prosecuted the Gambino crime family. Something like that is on the verge of happening to the international lawenforcement organization known as Interpol. On Wednesday delegates to Interpol’s annual convention will be casting votes on its next president after China disappeared its last one, Meng Hongwei, in September. Meng’s wife

says she has not heard from him since he flew to Beijing two months ago, and she fears he is dead. This incident put Interpol on life support. Now Interpol’s memberstates are reportedly poised to elect the former head of Russia’s interior ministry, Alexander Prokopchuk, to replace Meng. His victory would pull the plug on Interpol. It’s not just that Russia itself has abused Interpol’s system of issuing notices for arrest warrants to the national police of member-states, known as red notices. “There is literally no one in the world who bears a more direct and personal responsibility for Russia’s abuse of Inter-

The NDCP, which is based in Camp Aguinaldo, Quezon City, is the country’s one and only education, training, and research agency that focuses on strategic defense and national security (www.ndcp. edu.ph). NDCP was recognized as an institution due to its proactive discourses among the defense departments and armed forces of different countries promoting peace, world relations and cooperation, and international environmental protection. the NDCP should widen its reach and support for the current administration of President Duterte. Allow me to mention my comembers of the 2018 ECNS Batch 27-NDCP: Nasiri Abas, Guiamal Abdulrahman, Assistant Secretary Michel Kristian Ablan, Engr. Mohajirin Ali, former Asst. Sec. Nariman Ambolodto, Atty. Suharto Ambolodto, Mayor Datu Zamzamin Ampatuan, Andrew Balan, Engr. Jose Alfonso Barizo, Dr. Gerry Camer, Col. Pedrito Camilet Jr., Emmanuel Chavez, Dir. Arvin Chua, Teresita de Jesus, Capt. Jose

Mari de la Peña, Bernadette Escobar, Shirlene Esplana, Matarol Estino, Col. Achilles Estravilla, Commodore Eduardo Fabricante, Dir. Ruel Garcia, Maj. Rene Gimena, Maria Victoria Gummert, Lt. Col. Angelo Guzman, Fay Lea Patria Lauraya, Col. Francis Leonida, Michael Lim, Atty. Jose Lorena, Marjanie Macasalong, Atty. Meriam Madarang Monta, Khadafeh Mangudadatu, Mayor Zihan Mamalinta-Mangudadatu, Hisham Nando, Undersecretary Adoracion Navarro, Asst. Sec. Daniel Darius Nicer, Dir. Webdell Orbeso, Police Supt. Arnel Pagulayan, Asst. Sec. Lerey Panes, Asst. Sec. Ma. Cecilia Papa, Capt. Ferdinand Picar, Glenda Alcantara Pua, Elsie Raquino, Dir. Mylene Rivera, Asst. Sec. Omar Romero, Asst. Sec. Daren Salipsip, Police Chief Insp. Roberto Santos, Atty. Jorge Franco Sarmiento, Col. Ranulfo Sevilla, Commissioner Ammal Solaiman, former Asst. Sec. Jonas George Soriano, Atty. Marie Cris Suarez, Edgar Allan Tabell, Charleston Tan, Dir. Lilia Tan and Undersecretary Nabil Tan. Again, congratulations to 2018 ECNS Batch 27 of the NDCP! E-mail: fetad@yahoo.com.

ASHINGTON—When I was in Reykjavik in August, Icelanders were bragging about putting the corrupt bankers who ravaged their economy in prison. In America, it works somewhat differently.

Reading all the recent stories about the 10th anniversary of the financial crisis, it’s easy to see the neon line leading from President Barack Obama’s failure to punish Wall Street scammers to the fact that Republican scammers are now infecting the entire infrastructure of government.

We let the corrupt bankers who ravaged our economy roam free with bigger bonuses, more lavish Hamptons houses and fresh risky schemes. The big banks are bigger than ever and prosecution of white-collar crimes is at a 20-year low. And, cherry on the gilded cake, we put white-collar criminals in charge of the country—elevating epic grifters to the presidency and powerful Cabinet posts. Reading all the recent stories about the 10th anniversary of the financial crisis, it’s easy to see the neon line leading from President Barack Obama’s failure to punish Wall Street scammers to the fact that Republican scammers are now infecting the entire infrastructure of government. “The Tea Party and Occupy Wall Street rose up as opposite expressions of anti-establishment rage, nourished by the sense that colluding elites in the government and business had got away with a crime,” George Packer wrote in The New Yorker. “The game was rigged— that became the consensus of the alienated.” Obama and his Attorney General Eric Holder Jr. made a terrible mistake by letting the miscreant bankers off the hook rather than saying, as FDR did, “I welcome their hatred.”

ple felt the deal was rigged against them and in favor of the powerful, it gave him fodder.” Donald J. Trump scooped up “the forgotten,” promising to punish Wall Street for “getting away with murder,” and pledging to break up the big banks and force bankers to pay higher taxes. But it was just another Trump con. His administration, The New York Times reported, “has presided over a sharp decline in financial penalties against banks and big companies accused of malfeasance,” sparing corporate wrongdoers billions in fines. Asked about The Times’s scorching investigation last month on how “self-made” Trump received at least $413 million in today’s dollars from his father’s real-estate empire, much of it through tax dodges, Kellyanne Conway shrugged it off, saying, “Haven’t they learned that the president always gets the last laugh?” Trump’s White House started off like a branch office of Goldman Sachs, as Elizabeth Warren noted. Gary Cohn, Trump’s former economic adviser from Goldman, showed that Wall Street’s arrogance shines bright when he recently told Reuters that borrowers were just as responsible for the 2008 crisis as lenders. “Who broke the law?” Cohn asked, adding: “Was the waitress

in Las Vegas who had six houses leveraged at 100 percent with no income, was she reckless and stupid? Or was the banker reckless and stupid?” Binyamin Appelbaum, The Times’s economics wiz, riposted on Twitter: “A more accurate characterization of the housing bubble is that it was one of the largest orgies of white collar criminality in American history.” Speaking of orgies, Tim Leissner, the former Goldman Sachs banker whose guilty plea in the company’s $600-million international fraud case was unsealed this month, told the judge that his conspiracy was “very much in line” with the culture of Goldman Sachs “to conceal facts from certain compliance and legal employees of Goldman Sachs.” If you thought Trump’s flimflam about his namesake university was bad, if you cringe that Commerce and Interior are run by men accused of grifting, check out our acting attorney general. His very appointment could be illegal. Like his new boss, Matthew Whitaker has a pattern of thuggishness, threats, scams and abusing the power of his office to wage partisan feuds. Our new top cop was on the board of a shady patent company that has claimed Bigfoot exists and time travel could be coming. It also touted a “masculine toilet” to give well-endowed men “peace of mind” by ensuring that their genitals would not touch porcelain. Now, after trashing the idea of the Mueller investigation in 2017, Whitaker—flush with power—is the oddball sycophant charged with ensuring that Robert Mueller can finish his report. I’m sure we have nothing to worry about, though. As Sarah Huckabee Sanders noted on Friday, “There must be decorum at the White House.”

Western democracies still provide nearly 80 percent of Interpol’s annual budget. That money would be better spent as seed funding for a new international law-enforcement organization that bans officials from corrupt authoritarian states, instead of electing them to leadership positions. Even if Prokopchuk is defeated this week, the damage to Interpol is already done. Just last month, another authoritarian state kidnapped and disappeared the previous Interpol president. So far China has paid no price for this crime. The fact that Prokopchuk has come this close suggests the rot inside Interpol

is irreversible. Time to start over. When Nazis took over the leadership of Interpol’s predecessor, known as the International Criminal Police Congress, most nations withdrew their membership. Interpol was reborn in 1946 after the Nazis were defeated in World War II. There is still a need for an international organization that enables police agencies to share information. Interpol is no longer that organization. So America should lead the effort to build a new one. One of its first acts should be to issue a red notice for Alexander Prokopchuk, for impersonating a cop.

Maureen Dowd

NEW YORK TIMES

Some saw it as the end of the Democratic Party. Democrats were the party of workers, charged with protecting people from big money, big banks and big fraud. Obama, the great hope to revitalize the left, immediately folded. Some analogized that the failure to send bankers to jail or even on perp walks made the party’s white blood cell count drop to the point that GOP infections could run wild. In his 2016 book, Listen, Liberal, Thomas Frank wrote that “the hope drained out of the Obama movement” at the meeting between the fledgling president and Wall Street CEOs in March 2009: “After warning them about ‘the pitchforks’ of an angry public, Obama reassured the frightened bankers that they could count on him to protect them; that he had no intention of restructuring their industry or changing the economic direction of the nation.” (After he left the White House, Obama followed Hillary’s lead, buckraking on Wall Street.) David Axelrod, the Obama counselor who fought during the crisis to “kick the offenders harder,” as he puts it, says he still feels “very conflicted.” “We feared that if you took a brick out of the wall then the whole damn wall might fall down,” he said. “But it wasn’t helpful, as far as Trump. To the extent that peo-

Russian leadership would spell the end of Interpol Bloomberg Opinion

Wednesday, November 21, 2018 A7

pol than Alexander Prokopchuk,” writes the Heritage Foundation’s Ted Bromund. Prokopchuk heads the government bureau that sends law-enforcement information from Russia to Interpol. The most famous victim of this kind of abuse is the hedge fund manager William Browder. Browder’s lawyer, Sergei Magnitsky, died in a Russian prison in 2009 after exposing embezzlement by government officials. Browder then lobbied, tirelessly and successfully, for the Magnitsky Act, which imposes sanctions against government officials who commit grave human-rights abuses. Russia has issued red notices

for Browder, an American-born citizen of the UK. Meanwhile, Russia has failed to arrest the many officials already named and shamed through these Magnitsky sanctions. In fact on the eve of the Interpol vote, a Russian prosecutor filed new charges against Browder, accusing him of running a multinational money-laundering operation. In an added flourish, Russian prosecutors said it was likely that Browder himself had poisoned his own lawyer. Already Ukraine has threatened to leave Interpol if Prokopchuk is elected as its next president. The US and its allies should do the same.

2nd Front Page BusinessMirror

A8 Wednesday, November 21, 2018

‘Explore, explore, explore’: DOE sets oil contract round By Lenie Lectura

@llectura

HE Department of Energy (DOE) will launch on Thursday the next round of the energy-contracting exploration program, in hopes of luring many downstream oil-industry players. The Philippine Conventional Energy Contracting Program (PCECP), according to Energy Secretary Alfonso G. Cusi, is meant to intensify the DOE’s thrust to develop the petroleum exploration industry for global competitiveness. “The DOE is aggressively pursuing the implementation of the PCECP so the country could establish a strong ‘Explore, Explore, Explore’ program. “We have been grossly trailing behind our neighbors in terms of petroleum exploration and development activities. It is high time that we step up. We need to attain

energy security and sustainability to minimize our vulnerability to global oil price shocks,” Cusi said. The DOE chief added that “harnessing our indigenous energy resources would also go far in helping us meet the country’s increasing energy demand as we continue to usher in economic progress.” Under the PCECP, there are two modes of application potential investors may pursue. First, interested parties may wish to bid on the 14 Pre-Determined Areas identified by the DOE (one in Cagayan, three in East Palawan, three in Sulu Sea, two in

“We have been grossly trailing behind our neighbors in terms of petroleum exploration and development activities. It is high time that we step up. We need to attain energy security and sustainability to minimize our vulnerability to global oil price shocks.”—Cusi

Agusan-Davao, one in Cotabato, and four in West Luzon). The application period is 180 days, and will be officially opened during the launch. Alternatively, the applicants could also nominate and publish other areas of interest. In this mode, applications could be submitted at any time of the year, and would be subjected to a 60-day challenge period. All accepted applications shall be evaluated by the DOE Centralized Review and Evaluation Committee based on the criteria pursuant to Department Circular No. DC201712-0017.

Prior to the launch, the DOE conducted several road shows to drum up awareness on the program, including an international road show held in Singapore in August. In October, President Duterte signed the first service contract under his administration. Service Contract No. 76 covering Area 4 of Eastern Palawan was awarded to Israeli firm Ratio Petroleum Ltd., signaling the push to revive the country’s upstream petroleum industry. There are currently 23 active petroleum service contracts in the Philippines with the following developers: Shell Philippines Exploration, Total E&P, PNOC-EC, Nido Petroleum, Philodrill, PXP Energy and Galoc Production Company. The largest and most successful natural gas industrial project in Philippine history is the Malampaya Deep Water Gas-to-Power Project. However, experts have said the Malampaya may run dry in a decade, increasing the pressure on the government to start preparing for alternative energy sources.

PHL-THEMED TREE, LIGHTS BRING EARLY CHRISTMAS CHEER AT AIRPORTS By Recto Mercene @rectomercene

HE Manila International Airport and several stakeholders have partnered in a bid to celebrate Christmas by jointly decorating the airport passenger terminals. Legacy carrier Philippine Airlines (PAL) has a 24-foot pop-art Christmas tree on Terminal 1 and a shorter tree on Terminal 2. Both trees were lit ablaze Monday night. Resorts World topped this with a 47-foot Christmas tree at Terminal 3, which is just across the hotel complex. Cebu Pacific added to the glow by contributing several top-of-the-chart Christmas decorations to the huge T3, the low-cost carrier’s hub of operations. “We decided to ask the stakeholders to jointly participate in decorating the three passenger terminals in the spirit of unity and cooperation,” explained the airport headman, Ed Monreal. This is the first time that the Manila International Airport Authority (Miaa) has sought outside help in sprucing the terminals. The Miaa used to shoulder the P10-million yearly budget for the holiday décor. Explaining his airline’s contribution, PAL President Jaime J. Bautista

Kim. . .

Continued from A1

“In fact, we welcome contributions by China toward regional development so long as it adheres to the highest standards the people of the region demand, including in areas such as transparency, rule of law and sustainable financing,” said the US envoy. The ambassador added, “any activities that do not adhere to these principles undermine prosperity and stability in the region.” He said the US will continue to raise concerns about actions of any country “that challenge the rulesbased order which underpin years of peace, stability and economic growth in this dynamic region.” Given the special historical ties between Washington and Manila, as well as the deep mutual security, economic and people-to-people linkages, “the US is confident our

www.businessmirror.com.ph

100 Boracay resorts face sanctions from the PAB By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

NE hundred cases involving resorts on Boracay Island accused of assorted environmental violations are currently being heard by the Pollution Adjudication Board (PAB). This was disclosed by Environment Undersecretary for Attached Agencies Sherwin T. Rigor in an interview with the BusinessMirror. “There are 100 resorts and companies pending litigation with the PAB,” he said. Among the resorts with cases pending with the PAB are the Henann Group, which has six resorts; Kingfisher Farm; and Seven Seas Hotel, among others. If found guilty, these resorts could be leveled “millions of pesos in penalties, as well as closure,” he said. The PAB is a quasi-judicial body created under Section 19 of the Executive Order No. 192 (series of 1987), which reorganized the DENR. It is chaired by the DENR secretary, and adjudicates reported violations of Presidential Decree 1586 (Philippine Environmental Impact Statement System of 1978), Republic Act 6969 (Toxic Substances, Hazardous and Nuclear Wastes Control Act of 1990), RA 8749 (Philippine Clean Air Act of 1999), RA 9003 (Ecological Solid Waste Management Act of 2000), and RA 9275 (Philippine Clean Water Act of 2004). When the PAB comes out with its resolutions on these resorts, Rigor said, “We will file criminal cases against them” in the regular courts. Aside from the DENR, the National Bureau of Investigation and the Department of the Interior and Local Government (DILG) are also expected to file cases against these companies, he said.

This developed even as the Henann Resorts Group was said to be finally complying with the Boracay Interagency Task Force (BIATF) requirements to enable it to reopen its six resorts. “Henann has already taken steps to comply with our requirements. We are just waiting for its other hotels to comply,” Rigor acknowledged. The company’s resorts on Boracay are: Henann Regency Resort & Spa, Henann Lagoon, Henann Garden, Henann Prime Beach, Henann Crystal Sands and Henann Palm Beach, mostly beachfront properties. According to Mike Santos, general manager of Boracay Island Water Corp., the central water supplier and sewerage system on the island, they have already built sewerage treatment plants (STPs) for all of Henann properties. “They are just waiting for the go signal from the DENR for them to operate,” he said. For his part, Rigor said the STPs still have to undergo “pretesting, if they connected these correctly, plus the operation and discharge, before they are issued a compliance [certificate].” After the STPs are completed, “they have to be inspected and undergo three separate tests—an effluence test, discharge test, and the operation itself,” he stressed. After the resorts comply with DENR and DILG requirements, they still have to apply for accreditation with the Department of Tourism (DOT). Rigor said Henann “can be allowed to operate while its case is still being heard by the PAB.”

Foundation head quits MEANWHILE, Henry O. Chusuey, owner and founder of the Hennan Group, tendered his resignation on November 18 See “Boracay,” A2

House OKs tax amnesty, PHL coco authority bills By Jovee Marie N. dela Cruz @joveemarie

T PAL President Jaime J. Bautista and airport chief Ed Monreal (center) lead officials as they jointly set ablaze with spectacular colors the 24-foothigh pop-art Christmas tree ushering in the holiday season. PHOTO COURTESY OF MIAA said: “We want this Christmas tree to be a beacon of hope and goodwill that illuminates the dreams and wishes of everyone celebrating Christmas with their families this year.” PAL commissioned a private firm to design and build the pop-art Christmas tree to provide a different twist. “The goal of the designers is to transform the business-like atmosphere in the “streets of Manila,”evoking the sound and colors of the mega-city that extends beyond

alliance with the Philippines will continue to thrive in the future.” He stressed, “We have shared sacrifices, shared values and common convictions.”

Benefits from MDT

APPARENTLY with an eye to the country’s pivot to China following President Duterte’s assumption to office in 2016, the US ambassador in return reminded the country, not too subtly, how the Mutual Defense Treaty (MDT) has benefited the country. He said the support given to the Armed Forces (AFP) in military assistance, from 2011 to 2017, “total P80 billion [$1.6 billion] through the USAID.” He said this underscores the US commitment to advancing a more prosperous, stable and well-governed nation. He said the US Agency for International Development has provided “almost P3 billion over the last year to assist the ongoing emergency re-

the confines of the airport. To bring out this theme, the tree has representations of jeepneys, the calesa (horse-drawn cart) and sorbetes (ice cream) cart. “The Christmas tree is meant to project a uniquely Filipino spirit, honoring the fun-loving, creative and passionate people who make our capital city such a dynamic and unforgettable place,”Bautista added. “So, when citizens of faraway lands

lief and recovery to those affected by the Marawi crisis, including longtime rehabilitation efforts.” The US and the Philippines, he added, “share a strong and deeprooted economic partnership. We’re optimistic about the Philippines’s economic future and look forward to further deepening our economic ties.” He said the Philippines’s largest exporter by value is an American firm, Texas Instrument; the largest private employer is Concentrix; and one of the largest taxpayers in the country is another US firm, Chevron. “The US is among the Philippines’s top trading partner, exchanging more than P1 trillion, or $20 billion in goods last year. In fact, during first six months of this year the US was the top export destination for Philippine goods, and the US is also among the top 5 foreign investors with more than P380 billion [$7.1 billion] in stock.”

come to visit our country, they will feel and see that there’s no Christmas like a Pinoy Christmas.” Popular Manila sounds of the 70s—from bands like Hotdogs, VST & Co. and Boyfriends—play in the background, while disco lights dot the trees. The Christmas display offers photo opportunities for selfies and groups, offering a fitting pictorial remembrance for passengers departing for distant horizons.

The envoy said “the US is seeking to expand our trade relationship, strengthen the economic governance and competitiveness. This is something President Duterte and US President Donald [J.] Trump discussed last November.” And, he added, “the US welcomes the Philippines’s interest in a free-trade agreement, and we’re working with the Department of Trade and Industry to make bilateral relationship more free, fair and competitive.” Kim continued: “Of course the strength of our bilateral relations is rooted in vibrant, robust and people to people relations.” The event, held at the Department of Foreign Affairs Tuesday afternoon, was held to commemorate the 67th anniversary of the signing of the Philippine-US MDT. The DFA Foreign Service Institute hosted the event, in partnership with the Presidential Commission in the Visiting Forces.

HE House of Representatives on Tuesday approved on third and final reading a bill granting amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years, and a measure further strengthening the Philippine Coconut Authority (PCA). With 213 affirmative votes and 7 negative votes, the lower chamber approved House Bill 8554, or the proposed “Tax Amnesty Act of 2018.” The bill will be transmitted to the Senate for deliberations. With the approval of HB 8554, Rep. Estrellita Suansing of Nueva Ecija, who chairs the Committee on Ways and Means, said the government is expected to generate an additional P114.8-billion immediate revenues, clear case backlogs in both administrative and court proceedings, and enhance revenue administration by having a wider tax base. The proposed Tax Amnesty Act of 2018 is also tagged as Part B of the Tax Reform for Acceleration and Inclusion (TRAIN). She said the last amnesty the country had was in 2007 under Republic Act No. 9480, where there were about 25,017 applicants and collection reached P7.2 billion, translating to 0.07% of the Gross Domestic Product (GDP). The HB 8554 is divided into three parts: the first part provides for Estate Tax Amnesty; General Tax Amnesty and Tax Amnesty on Delinquencies. Although House Bill 4814, or An Act Granting Amnesty on Estate Taxes, has already been transmitted to the Senate, the committee still included the same in this com-

prehensive measure. Under the bill, for two years, the authorized administrator or executor, or in the absence thereof, the legal heirs and recognized successors may avail themselves of the Estate Tax Amnesty at a rate of 6 percent of the net estate for taxable year 2017 and prior years. According to Suansing, more idle and unproductive properties are not good for the economy as more income opportunity will be lost. The second part of this bill is the General Tax Amnesty, which encompasses all national internal revenue taxes like income tax, value-added tax, donor’s tax, percentage tax, documentary stamp tax and excise tax, among others. However, this bill specifically excludes the value-added tax and excise tax collected by the Bureau of Customs. Suansing said it will be a onetime opportunity for erring taxpayers to file and pay their tax returns within one year, worry-free from any penalties, surcharges, even criminal, civil, or administrative cases as long as the declaration is truthful and honest. “At a rate of 2 percent of the total assets, the taxpayer will have a cordial relationship with tax authorities within one year and may move forward with a clean slate,” she added. Last, the third part of the bill is the Tax Amnesty on Delinquencies. Suansing said this ty pe of amnesty aims to decongest the dockets of the BIR, Regional Trial Courts, Court of Tax Appeals and the Supreme Courts relating to those delinquent accounts with final assessments; those that have become final and executory; and those with existing pending tax evasion cases.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, November 21, 2018

Ikea invests ₧7B for PHL store By Elijah Felice E. Rosales @alyasjah

WEDISH furniture maker Ikea has poured in P7 billion in initial investment for its landmark store in the Philippines, scheduled to open by the end of 2020. The first Ikea branch in the country will cover around 65,000 square meters in Pasay City. It will be the largest of its kind all over the world, as it will house a warehouse, an ecommerce facility and an integrated call center. Ikea Southeast Asia, a franchisee with the rights to own and operate Ikea stores in Malaysia, Singapore, Thailand and the Philippines, will make an initial investment of P7 billion to fit out, stock, market and

staff the first store in the country. The firm plans to hire 500 workers, and create hundreds of indirect jobs and business opportunities for its Philippine operations. SM Prime Holdings Inc. will serve as its leasing partner for the area the store will cover. Future Manila Store Manager Georg Platzer on Tuesday said the country is a viable site to locate an Ikea branch given the Filipinos’ general knowledge about the brand. He

added the population in general is conducive for business. “We know there are a few million people here in the Philippines who know our brand already. About 13 percent of the people in greater Metro Manila already recognize the Ikea name,” Platzer said. On top of retail, Platzer said the local Ikea store will be needing partners to assist in its operations. He specified logistics as one area the branch will be requiring from local firms. “We are looking for local partners to help us build our retail business in the Philippines—businesses that share our values and work to the high ethical standards that we have at Ikea. We need people to support us in transport, waste management, food supply, recruitment services, digital marketing, home delivery and assembly, security, cleaning [and] sewing services,” he said.

Ikea Southeast Asia Managing Director Christian Rojkjaer explained the Manila store is the largest of its kind because it will also house a call-center facility and an e-commerce hub. He said because Filipinos love to shop, it is just right to build a store that can have “as many people as possible.” “A typical Ikea store is around 35,000 square meters. The one we have designed will be around 65,000 sq m. That’s equivalent to more than 150 basketball courts,” Rojkjaer said. Ikea, a Swedish-founded multinational company, is in the business of designing and selling furniture, appliances, and home décors and accessories. Inter Ikea Systems BV owns the Ikea concept and is the worldwide Ikea franchisor. The brand is the world’s largest home-furnishing retailer, and as of August, 11 different franchisees were operating 422 stores in 50 countries.

Avida expects ₧4-B sales from 2nd Balintawak Tower By VG Cabuag

@villygc

VIDA Land Corp., a unit of property developer Ayala Land Inc., on Tuesday said it expects P4 billion in sales for the second tower of its multi-tower condominium development in Balintawak, Quezon City. Avida Towers Cloverleaf earned sales of P2.2 billion for its first tower alone, but the company decided to double the price of all the units in its second tower, thus also doubling the sales value. “Tower 2 of Avida Towers Cloverleaf represents a new and exciting opportunity for Avida buyers to experience not only the completeness of the Ayala estate lifestyle, but the convenient accessibility to public

transport and connectivity to other parts of the Metro from the north,” said Raquel S. Cruz, Avida vice president and corporate planning group head. Cruz said half of the buyers were for end use and the rest were for rentals. Most of the buyers were local Filipino-Chinese. Tower 2 units range in price from P4.1 million to P9.9 million, or an average of P180,000 per square meter. The tower one, launched in 2015, had an average price of P95,000 per square meter. Avida Towers Cloverleaf has been the first residence to rise in the masterplanned, mixed-use development. The first tower—at 31 stories high and 28 residential floors—is set for completion by the second

half of 2019. The second tower was launched last month, and will be the development’s highest at 36 stories high, with 33 residential floors. It will be turned over to owners in 2024. Avida has marketed the property to urban professionals, early nesters and entrepreneurs entering Metro Manila via Balintawak who would want a place to live in the city, as well as residents of Quezon City and nearby Filipino-Chinese communities. Tower 1 is now sold out with majority of the buyers coming from the local market. It also has a number of buyers from the United States and China seeking condos for investment purposes. Avida Towers Cloverleaf has a three-floor shared parking podium

and features a clubhouse, swimming pool with lap pool and children’s pool, children’s playground, indoor gym, and landscaped spaces and serenity gardens. Tower 2 offers 848 units in studio, junior one-bedroom, one-bedroom and two-bedroom layouts. Ayala Land is spending P23 billion for the 11-hectare Cloverleaf development. Avida, meanwhile, is spending P4.5 billion for all the three towers. Ayala Land has so far spent P15 billion for Phase 1 with about 42 percent of the entire estate completed. The development is comprised of shopping malls with allocated office spaces for the business-process outsourcing companies and residential buildings.

Aboitiz, AC Energy keen on bidding for PSALM’s remaining IPP contracts

BOITIZ Power Corp. and AC Energy Inc. are keen on participating in the planned auction of the Power Sector Assets and Liabilities Management Corp.’s (PSALM) remaining independent power producer (IPP) contracts. “Any opportunity to participate in that kind of transaction, we’re open,” Aboitiz CEO Erramon Aboitiz said. Aboitiz was referring to PSALM’s contracted capacities with IPP plants, namely Caliraya-Botocan-Kalayaan

hydroelectric power plants, Mindanao coal-fired thermal power plant, Casecnan multipurpose project, Unified Leyte geothermal power plant and the Mindanao I and II geothermal power plants. AC Energy President Eric Francia said the power arm of conglomerate Ayala Corp. “will probably take a look at it.” “That’s not core to our strategy, but we will look at it a minimum,” he said.

Early this month, PSALM announced it would tap consultants to determine the best privatization approach for the IPP plants. The approved budget for the contract is P22.66 million, provided in the 2019 Corporate Operating Budget of PSALM. “PSALM will evaluate the most beneficial and feasible privatization options and structures for its remaining IPP contracts through the assistance of a third-party

consultant,” PSALM said. Specifically, the winning firm is tasked to study the technical, contractual, legal, commercial and plant-specific issues affecting the IPP contracts, review relevant agreements and applicable laws, conduct consultations with concerned agencies, and private entities, and conceptualize technical, financial and legal frameworks for the proposed privatization options and structures. Lenie Lectura

S.B.M.A CHIEF GARNERS SILVER ‘STEVIE’ FOR TOP FEMALE EXEC CATEGORY

ATTY. Wilma T. Eisma as SBMA chairman and administrator during the BusinessMirror Coffee Club. NONIE REYES Henry Empeño

Correspondent

UBIC BAY FREEPORT—Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma received on Friday, November 16, a silver award for “Female Executive of the Year” during the annual Stevie Awards for Women in Business in New York City. The“Stevies,”regarded as the Oscars for business, is given annually by the American Business Awards organization to recognize accomplishments and contributions of companies and business people around the world. Eisma won the silver in the category for government or nonprofit organization with more than 2,500 employees. The gold award went to Deanna Wise, EVP and CIO of Dignity Health, a not-for-profit operator of hospitals and ancillary care facilities San Francisco, California; while the bronze was taken by Maria da Glória Guimarães dos Santos, president of Serpro, the biggest government-owned corporation of IT services in Brazil. Eisma also received in the same occasion a bronze Stevie for the SBMA for “Organization of the Year” under the category for government or nonprofit with more than 10 employees. The top places under this category were taken by The Welsh Air Ambulance Charitable Trust of Wales, United Kingdom, gold winner; and Bob Woodruff Foundation, New York, and Plan International Canada, of Toronto, both silver winners. The winners for the gold, silver and bronze Stevies were announced in the 15th annual awards

dinner in New York City where more than 600 women and their guests from around the world attended the presentations that were broadcast live on Livestream. Organizers said more than 1,500 entries were submitted this year by organizations and individuals around the world for consideration in more than 90 categories of the award that include Executive of the Year, Entrepreneur of the Year, Startup of the Year, Women Helping Women and Women-Run Workplace of the Year. Finalists in the Stevie Awards were selected by the average scores of more than 200 professionals worldwide on five specialized juries. A week earlier, Eisma also accepted the Award in International Public Service at the Chicago Filipino Asian American Hall of Fame Awards, which honors highachieving Filipinos and FilipinoAmericans who promote the positive image of the Filipino, not only in the Philippines and the United States but also throughout the world. Eisma said the awards she and the SBMA received serve as recognition of the efforts of the SBMA and its employees to make the Subic Bay Freeport Zone a premier investment center and a catalyst of economic growth. “The SBMA has grown to be a better organization due to the culture of malasakit in the agency, which this administration has actively promoted,” Eisma said. “When we give our all because of this concern for the common good, we are bound to give our best performance and this recognition is one result of this hard work that SBMA employees are doing,” she added.

Introducing Dennis Uy of Mislatel, named the country’s third telco player By Lorenz S. Marasigan @lorenzmarasigan

AVAO-BASED businessman Dennis A. Uy is no stranger to foraying into new industries and succeeding in them. He intends to continue to succeed now that his group won the third telco license. During a bilateral meeting between the Department of Information and Communications Technology (DICT) and China Telecom Corp., Uy assured his group will make good use of the license awarded to Mislatel Consortium—a group led by the rising tycoon’s Udenna Corp. and the Chinese Internet provider. “I promise you, we will work very hard towards achieving our common goals of better, cheaper and more widely available telecommunications,” he said. “I’m not a stranger to entering new industries and being a disruptor for the benefit of consumers.” Uy, who has close ties with President Duterte, has holdings in energy,

water, petroleum, logistics, shipping, property, environmental trading, education and, more recently before telecoms, food. “We accept the responsibility and challenge of being the new major player,” he said. Exactly how is Mislatel going to do it? Adel A. Tamano, the spokesman for Mislatel, said while his group will be building out its infrastructure from scratch, Mislatel intends to partner with both smaller and larger players to quickly roll out its investment program. “For our rollout, we want to partner with them, not as equity partners, but as technical and resource partners. It’s a new model that we want to support,” he said. Tamano was referring to smaller players such as disqualified third telco bidders Philippine Telegraph and Telephone Corp. and Sear Communications Inc., and incumbents Smart Communications Inc. and

DENNIS UY PHOTO COURTESY OF CASINO-REVIEW.CO

Globe Telecom Inc. But as early as now, China Telecom—which may hold as much as a 40-percent stake in the future entity to be created for the third telco— signed a “joint letter of intent” with the DICT to connect the Chinese company’s submarine cable system to government’s cable landing station. China Telecom’s fiber-optic submarine cable system will directly

connect Hong Kong, the United States and the Philippines. “This is our first step in providing the foundation for faster and cheaper Internet services for Filipinos. With this partnership, we are setting up our International Gateway Facility that is critical for world-class telecommunications services,” Tamano said. Aside from this, the group, he said, is “preparing” its rollout studies.

Mislatel has three months to complete all necessary requirements related to the post-qualification procedures for its confirmation. Under the post-qualification requirements, Mislatel has to register as an official entity through the Securities and Exchange Commission. It also needs to get the necessary approvals from the Philippine Competition Commission. It also has to comply with the paidup capital requirement of at least P10 billion and implement the relevant provisions of the bidding agreement. Mislatel is also required to seek congressional approval for any sale or transfer of capital stock, vesting controlling equity interests to another entity as provided in its congressional franchise, in which case, the franchise holder for the group is Mindanao Islamic Telephone Corp. It also has to submit the business plan for the entire commitment period of five years, containing the capital and operational expenditures,

the sources of funding, the projected cash flow, the planned technology deployment, the marketing plans and programs, indicative tariff rates, the key risks and mitigation strategies, and the existing agreement with existing technology players, if any. Mislatel also has to submit its rollout plan, which should contain the following: indicative start of commercial operations, detailed schedules consistent with its commitments, coverage, technology, equipment to be used, target subscribers, service rates and a detailed description of how it ensures that its network and facilities will not compromise national security. Upon the completion of the submissions for the post-qualification procedures, the regulator has to review the documents in relation to the commitments for 15 days. Once done, the new major player has to submit its performance security—in Mislatel’s case, P25.7 billion—within 15 days.

Companies BusinessMirror

Wednesday, November 21, 2018

PSE STOCK QUOTATIONS

November 20, 2018

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

ASIA UNITED 59 59.6 58.5 59.6 58.05 59.6 50200 2972517 2070373 BDO UNIBANK 129 129.3 128.2 130 126.1 129.3 2539640 327,195,2261 45015550.9998 BANK PH ISLANDS 90.5 90.65 88.1 91.7 87 90.5 1835130 165485771.5 90501903 CHINABANK 27.6 27.75 28 28 27.5 27.75 154200 4256495 -405085 EAST WEST BANK 10.6 10.68 10.68 10.72 10.48 10.6 468300 4968938 -1798194 METROBANK 71.35 71.8 71.4 73 71.2 71.35 6131920 442111856 62987542 PB BANK 11 11.1 11.2 11.38 11.1 11.1 20500 227788 PHIL NATL BANK 39.75 39.8 39.8 39.8 39.7 39.75 73000 2,903,225( 1,411,829.9997) PSBANK 72.6 74.9 76.85 76.85 74.9 74.95 400 30025 PHILTRUST 105 119.8 104.1 105 104.1 105 500 52491 RCBC 28.75 28.8 28.2 28.75 28 28.75 27200 772795 2820 SECURITY BANK 151.1 152 146.2 153 144.7 152 1374370 206772168 32084869 UNION BANK 65.85 65.95 65.8 65.95 65.8 65.85 260 17135.5 -3292 BRIGHT KINDLE 1.51 1.59 1.5 1.59 1.5 1.59 3668000 5829370 BDO LEASING 2.3 2.35 2.3 2.3 2.28 2.3 32000 73420 COL FINANCIAL 15.3 15.56 15.5 15.5 15.5 15.5 1500 23250 FERRONOUX HLDG 3.78 3.8 3.76 3.8 3.76 3.8 20000 75880 IREMIT 1.45 1.52 1.52 1.52 1.52 1.52 2000 3040 MEDCO HLDG 0.45 0.465 0.445 0.45 0.44 0.45 900000 400100 NTL REINSURANCE 0.75 0.76 0.76 0.76 0.75 0.76 3390000 2543290 -104740 PHIL STOCK EXCH 172.6 178 182.9 183 173 178 5050 885588 17300 VANTAGE 1.14 1.22 1.14 1.14 1.14 1.14 20000 22800 INDUSTRIAL ALSONS CONS 1.23 1.24 1.23 1.25 1.23 1.23 712000 877540 ABOITIZ POWER 32.5 32.75 32.45 32.75 32 32.75 1625500 52773565 -29585080 BASIC ENERGY 0.248 0.25 0.224 0.25 0.209 0.25 23410000 5626300 3279660 FIRST GEN 17.3 17.32 17.54 17.54 17.26 17.3 1676800 29218916 -1235908 FIRST PHIL HLDG 63.3 63.55 64.6 64.6 63.05 63.3 77320 4914923.5 -1103407 PHIL H2O 4.48 4.59 4.65 4.68 4.47 4.48 260000 1175730 MERALCO 382 383.8 384 387 378 383.8 97770 37584434 16272976 MANILA WATER 25 25.4 25.4 25.4 25 25 863000 21586215 16465140 PETRON 7.72 7.77 7.8 7.8 7.7 7.72 370600 2866204 -672129 PETROENERGY 3.94 4.03 3.92 4 3.91 4 32000 126350 PHINMA ENERGY 0.9 0.93 0.91 0.94 0.9 0.93 574000 521810 PHX PETROLEUM 10.8 11 11 11 10.7 11 23100 252202 -140800 PILIPINAS SHELL 48.5 48.55 48.5 49.05 48.5 48.55 501000 24365145 -4573035 SPC POWER 5.3 5.32 5.3 5.33 5.3 5.32 536500 2846922 AGRINURTURE 17.5 17.64 17.68 17.78 17.44 17.64 574100 10120534 791068.0003 CNTRL AZUCARERA 15.04 16 16 16 14.72 16 5400 85880 CENTURY FOOD 13.94 14.02 14.1 14.1 13.96 14 1008700 14119246 230356 DEL MONTE 6.52 7 6.7 7 6.5 6.9 1200 7970 DNL INDUS 10.74 10.78 10.76 10.78 10.74 10.78 374500 4030580 -985100 EMPERADOR 6.95 6.97 6.99 7.04 6.92 6.97 27300 190144 -26454 SMC FOODANDBEV 83.7 83.8 83.95 83.95 83.7 83.8 2706330 226916078 104421618.5 ALLIANCE SELECT 1.06 1.07 1.07 1.08 1.04 1.06 5698000 6039770 2120 GINEBRA 22.6 23.3 22.6 23.4 22.6 23.3 18500 426410 342740 JOLLIBEE 279 279.2 282 282 278.4 279 388900 108840204 -26784994 LIBERTY FLOUR 50.55 58.9 45 50.55 45 50.55 80 3988.5 MAXS GROUP 9.67 9.69 10.3 10.3 9.5 9.69 1092500 10648776 317082.0003 MG HLDG 0.167 0.172 0.167 0.17 0.166 0.166 1010000 171370 PEPSI COLA 1.43 1.48 1.44 1.45 1.43 1.44 197000 284140 -261080 SHAKEYS PIZZA 9.98 10 9.99 10 9.94 9.98 37800 377075 -99799 ROXAS AND CO 1.9 1.93 1.93 1.93 1.9 1.9 119000 227210 RFM CORP 4.65 4.7 4.7 4.7 4.65 4.7 18000 84550 -4650 SWIFT FOODS 0.122 0.125 0.125 0.125 0.125 0.125 190000 23750 UNIV ROBINA 129.8 130 131.6 131.6 128 130 1013390 132290887 -1332994 VITARICH 1.52 1.53 1.49 1.54 1.48 1.53 7599000 11528160 46130 VICTORIAS 2.32 2.4 2.32 2.32 2.32 2.32 590000 1368800 1345600 CONCRETE A 65.9 66 60.6 66 60.6 66 450 28923 CEMEX HLDG 1.92 1.97 2 2 1.91 1.97 6675000 12905550 -2696880 DAVINCI CAPITAL 5.01 5.43 4.71 5.43 4.71 5.43 600 2898 EAGLE CEMENT 15.28 15.3 15.3 15.32 15.2 15.28 2918400 44450246 -4510654 EEI CORP 8.56 8.87 8.5 8.98 8.5 8.87 48400 430670 HOLCIM 6.21 6.39 6.15 6.4 6.15 6.4 26800 168940 -58750 MEGAWIDE 17.04 17.06 17.34 17.96 17.06 17.06 8762000 153269638 -13099610 PHINMA 8.5 8.8 8.5 8.78 8.5 8.78 9500 82810 TKC METALS 0.82 0.83 0.84 0.87 0.82 0.83 383000 317560 VULCAN INDL 1.46 1.47 1.5 1.5 1.45 1.47 6294000 9316970 -77070 CROWN ASIA 1.36 1.37 1.4 1.41 1.32 1.35 465000 630780 LMG CHEMICALS 4.65 4.98 4.7 4.7 4.6 4.6 9478000 43600520 PRYCE CORP 5.15 5.5 5.21 5.21 5.18 5.18 1731100 9011040 -202520 CONCEPCION 36 36.8 36 36 36 36 400 14400 GREENERGY 1.63 1.65 1.6 1.68 1.58 1.64 10960000 17825590 3195040 INTEGRATED MICR 7.61 7.7 7.79 7.79 7.4 7.61 5641700 42798991 3074080 IONICS 1.48 1.49 1.47 1.5 1.46 1.48 425000 625050 PANASONIC 5.7 5.8 5.8 5.8 5.8 5.8 200 1160 SFA SEMICON 1.18 1.22 1.21 1.25 1.18 1.22 266000 319380 12000 CIRTEK HLDG 36.4 37 37.75 37.85 36.4 36.4 158500 5855950 HOLDING & FRIMS ABACORE CAPITAL 0.49 0.495 0.465 0.495 0.465 0.49 25840000 12451300 3088600 ASIABEST GROUP 19.36 19.38 21 21 19.38 19.38 2568300 50157664 48720796 AYALA CORP 935 937 937 945 927 935 172200 161238770 70014305 ABOITIZ EQUITY 47.9 48 46 48 45.7 48 754900 35792405 2528900 ALLIANCE GLOBAL 10.86 10.88 10.76 10.98 10.64 10.88 6987000 75787802 -38360266 ANSCOR 6.3 6.31 6.3 6.31 6.3 6.3 46400 292321 291690 ANGLO PHIL HLDG 0.78 0.84 0.85 0.85 0.84 0.84 6000 5080 ATN HLDG A 1.43 1.44 1.49 1.49 1.44 1.44 8114000 11787290 ATN HLDG B 1.46 1.47 1.49 1.49 1.46 1.47 991000 1458220 442470 COSCO CAPITAL 7.32 7.33 7.4 7.42 7.23 7.32 891000 6550694 218786 DMCI HLDG 12.6 12.9 13.06 13.08 12.6 12.6 3727600 47990322 -18284284 FILINVEST DEV 7.23 7.62 7.6 7.6 7.34 7.6 2112300 16052042 -532760 GT CAPITAL 899 899.5 860 915 820 899.5 491640 441184230 64074485 HOUSE OF INV 5.88 5.9 6.01 6.01 5.9 5.9 15100 89301 JG SUMMIT 46.4 47 46.75 47 46 47 1430100 66752010 -37671975 KEPPEL HLDG A 3.63 4.99 3.54 3.54 3.54 3.54 2000 7080 LODESTAR 0.5 0.52 0.51 0.52 0.5 0.52 89000 45040 LOPEZ HLDG 3.88 3.89 3.9 3.9 3.88 3.88 206000 800810 -209980 LT GROUP 16.38 16.48 16.28 16.5 16.12 16.48 2276300 37277260 605550 MABUHAY HLDG 0.52 0.53 0.51 0.53 0.51 0.52 1214000 629220 METRO PAC INV 4.61 4.62 4.65 4.71 4.57 4.62 31760000 147947670 -92047190 PACIFICA 0.034 0.035 0.034 0.034 0.034 0.034 2400000 81600 PRIME ORION 2.44 2.45 2.5 2.5 2.43 2.45 739000 1824620 46740 PRIME MEDIA 1.15 1.2 1.17 1.2 1.15 1.15 128000 147820 SOLID GROUP 1.28 1.37 1.3 1.37 1.28 1.37 22000 28970 SYNERGY GRID 465 500 520 520 440 500 910 436014 -50000 SM INVESTMENTS 933 940 919 960 912 940 336800 315624925 -17296700 SAN MIGUEL CORP 173.5 174.1 170 175 168.8 174.1 1029400 177901353 109311171 SOC RESOURCES 0.75 0.79 0.81 0.81 0.81 0.81 10000 8100 TOP FRONTIER 271.2 281 266.2 281 266 281 11630 3236906 WELLEX INDUS 0.228 0.234 0.225 0.235 0.225 0.235 5350000 1233180 250880 PROPERTY ARTHALAND CORP 0.52 0.53 0.51 0.54 0.51 0.53 404000 209250 ANCHOR LAND 9.61 11 11 11 11 11 300 3300 AYALA LAND 40.05 40.1 39.8 40.25 38.65 40.1 11868800 472888490 13510010 ARANETA PROP 1.77 1.85 1.77 1.85 1.76 1.77 25000 44470 BELLE CORP 2.2 2.21 2.25 2.25 2.19 2.2 666000 1475340 -913320 A BROWN 0.74 0.76 0.76 0.77 0.73 0.76 1274000 955800 CITYLAND DEVT 0.84 0.85 0.86 0.86 0.83 0.85 141000 119410 830 CROWN EQUITIES 0.213 0.22 0.212 0.22 0.212 0.22 3160000 681780 CEBU HLDG 5.62 6 5.5 6 5.5 6 5700 31700 CEB LANDMASTERS 3.78 3.84 3.87 3.87 3.75 3.84 318000 1208620 CENTURY PROP 0.405 0.41 0.405 0.41 0.4 0.405 1750000 707650 CYBER BAY 0.325 0.37 0.32 0.325 0.32 0.325 110000 35600 DOUBLEDRAGON 18.36 18.38 18.86 18.86 18.3 18.36 397100 7374460 3507336 DM WENCESLAO 7.59 7.6 7.55 7.65 7.55 7.6 419500 3186966 EMPIRE EAST 0.5 0.52 0.52 0.52 0.5 0.52 84000 43060 FILINVEST LAND 1.44 1.47 1.48 1.49 1.44 1.44 4383000 6408130 -123040 GLOBAL ESTATE 1 1.01 1 1.01 1 1 3081000 3081600 8990 HLDG 7.42 7.45 7.45 7.51 7.45 7.47 807900 6050626 508987 IRC PROP 2.45 2.46 2.39 2.48 2.32 2.46 13628000 32884690 5220 MEGAWORLD 4.76 4.77 4.62 4.76 4.56 4.76 17401000 82215980 67546210 MRC ALLIED 0.345 0.35 0.35 0.355 0.34 0.35 23760000 8259950 168100.0001 PHIL ESTATES 0.44 0.445 0.44 0.44 0.44 0.44 290000 127600 PRIMEX CORP 3.58 3.6 3.6 3.6 3.57 3.6 1360000 4876910 -1278250 ROBINSONS LAND 20.2 20.55 21 21 20.15 20.5 3065900 63,359,600( 30,521,725.0003) PHIL REALTY 0.36 0.365 0.365 0.37 0.355 0.365 340000 124050 ROCKWELL 1.92 1.93 1.93 1.94 1.91 1.93 148000 284620 88630 SHANG PROP 3.1 3.14 3.1 3.14 3.1 3.14 17000 52840 STA LUCIA LAND 1.12 1.15 1.13 1.15 1.08 1.15 542000 610460 SM PRIME HLDG 33.55 33.6 32.8 33.85 32.5 33.6 11273700 375916285 -20325455 STARMALLS 4.06 4.07 4.05 4.08 3.98 4.07 188000 758000 80200 PTFC REDEV CORP 29.2 36.95 29.2 29.2 29.2 29.2 200 5840 VISTA LAND 5.19 5.2 5.19 5.2 5.17 5.2 1402200 7282129 -1143660 SERVICES ABS CBN 19.8 19.9 19.86 19.9 19.7 19.9 27700 548250 GMA NETWORK 5.26 5.27 5.23 5.27 5.23 5.27 86600 453992 MANILA BULLETIN 0.33 0.375 0.35 0.35 0.35 0.35 200000 70000 MLA BRDCASTING 14.3 16 14 14.12 14 14.12 600 8424 GLOBE TELECOM 1980 2006 1999 2040 1952 2006 89780 179519290 79310240 PLDT 1216 1220 1235 1236 1200 1216 34310 41794300 6741135 APOLLO GLOBAL 0.037 0.038 0.037 0.038 0.036 0.038 33200000 1228500 DFNN INC 7.61 7.9 7.98 7.98 7.98 7.98 400 3192 3192 IMPERIAL 1.79 1.8 1.79 1.79 1.77 1.79 16000 28510 ISLAND INFO 0.094 0.096 0.096 0.098 0.096 0.096 1140000 110240 ISM COMM 7.73 7.74 8.45 8.45 7.73 7.74 62278000 499,969,967( 7,444,932.9998) JACKSTONES 3.28 3.39 3.3 3.39 3.3 3.39 11000 36390 NOW CORP 3 3.01 2.96 3.14 2.81 3 6745000 19811520 812720 TRANSPACIFIC BR 0.355 0.36 0.365 0.365 0.35 0.355 28640000 10258400 1522150 PHILWEB 3.02 3.08 3.09 3.09 3.01 3.02 567000 1720280 12080 2GO GROUP 9.76 9.8 10 10 9.6 9.76 45800 447431 ASIAN TERMINALS 13.08 13.2 13.2 13.2 13.2 13.2 400 5280 -1320 CEBU AIR 66 66.05 67.4 67.4 66 66 81890 5443236.5 -608116.5 CHELSEA 8.48 8.49 8.1 9.5 8.1 8.49 29830700 262513878 7524984 INTL CONTAINER 94.45 94.5 95.3 95.5 93.95 94.5 475880 45114154.5 16293285.5 LBC EXPRESS 13.84 14.28 14 14.28 14 14.28 3900 54852 LORENZO SHIPPNG 0.65 0.66 0.68 0.68 0.62 0.66 316000 205130 -0 MACROASIA 13.58 13.8 14.3 14.3 13.5 13.8 3377000 46844986 -12944454 METROALLIANCE A 1.12 1.3 1.27 1.39 1.27 1.3 172000 223310 PAL HLDG 7.63 7.8 7.8 7.8 7.75 7.8 18800 146365 HARBOR STAR 3.24 3.25 3.21 3.36 3.21 3.25 2753000 9021260 499330 ACESITE HOTEL 1.26 1.4 1.26 1.26 1.26 1.26 8000 10080 DISCOVERY WORLD 2.06 2.35 2.12 2.12 2.12 2.12 3000 6360 WATERFRONT 0.48 0.485 0.47 0.485 0.46 0.485 1870000 882100 CENTRO ESCOLAR 7.81 7.99 7.85 7.89 7.81 7.89 5600 43980 19525 IPEOPLE 10.12 10.98 10.14 10.14 10.12 10.12 1800 18224 STI HLDG 0.61 0.62 0.62 0.62 0.59 0.61 1875000 1141730 -346570 BERJAYA 1.69 1.71 1.66 1.72 1.65 1.69 1643000 2765120 39730 BLOOMBERRY 7.6 7.61 7.58 7.65 7.4 7.6 7339900 55327291 -24163641 PACIFIC ONLINE 9.24 10.4 10.58 10.58 10 10 4100 42160 LEISURE AND RES 2.81 2.83 2.85 2.85 2.69 2.83 1228000 3439920 -707910 MANILA JOCKEY 5.32 5.57 5.6 5.6 5.32 5.57 55700 297405 MELCO RESORTS 7.13 7.14 7.13 7.14 7.13 7.13 4430500 31593848 -4304562 PREMIUM LEISURE 0.65 0.66 0.67 0.67 0.65 0.66 1772000 1172740 -175850 TRAVELLERS 5.22 5.24 5.14 5.22 5.14 5.22 5506800 28688457 -15253315 METRO RETAIL 2.02 2.03 2.07 2.08 2.01 2.03 2156000 4412450 1405540 PUREGOLD 42.3 42.55 42.7 42.7 42 42.55 756400 32154845 -9515185 ROBINSONS RTL 74 75.05 76 76 74 74 404190 30,338,447( 25,182,452.5004) PHIL SEVEN CORP 107 107.9 105 107 104 107 1210 128240 82830 SSI GROUP 2.71 2.72 2.78 2.78 2.66 2.71 7256000 19688150 1309780 WILCON DEPOT 12.2 12.22 12.32 12.32 12.22 12.22 1757700 21537266 13564916 APC GROUP 0.35 0.36 0.35 0.36 0.35 0.36 370000 130350 EASYCALL 4.91 5.05 5 5.2 4.2 4.91 231200 1107752 -45500 GOLDEN BRIA 315 318 315 320 315 320 20 6350 PAXYS 3.03 3.45 3.43 3.5 3.43 3.5 2000 6930 PRMIERE HORIZON 0.315 0.32 0.305 0.32 0.305 0.32 420000 131950 SBS PHIL CORP 6.74 6.8 6.8 6.8 6.74 6.74 8700 58664 MINING & OIL ATOK 13.14 15.1 15.96 16 14.84 15.96 13100 197888 APEX MINING 1.73 1.76 1.92 1.93 1.72 1.76 25737000 47219240 3694980 ABRA MINING 0.0019 0.002 0.0021 0.0021 0.002 0.002 251000000 502100 ATLAS MINING 2.36 2.93 2.35 2.36 2.35 2.36 19000 44660 -7060 BENGUET B 1.09 1.27 1.09 1.09 1.09 1.09 2000 2180 COAL ASIA HLDG 0.29 0.295 0.295 0.295 0.295 0.295 70000 20650 CENTURY PEAK 1.91 1.94 1.91 1.92 1.89 1.91 895000 1703900 19000 DIZON MINES 6.97 6.98 6.99 7 6.98 6.98 19100 133324 FERRONICKEL 1.7 1.72 1.7 1.72 1.68 1.72 559000 945720 161200 GEOGRACE 0.198 0.204 0.199 0.204 0.199 0.203 100000 20080 -7960 LEPANTO A 0.097 0.098 0.1 0.1 0.095 0.097 1880000 181180 LEPANTO B 0.097 0.101 0.108 0.108 0.1 0.101 130000 13100 MANILA MINING A 0.0066 0.0068 0.0066 0.0066 0.0066 0.0066 24000000 158400 MANILA MINING B 0.0062 0.007 0.006 0.006 0.006 0.006 1000000 6000 NIHAO 1 1.01 1.02 1.02 1.01 1.01 2000 2030 NICKEL ASIA 1.94 1.98 2.04 2.05 1.89 1.94 14114000 27750920 -5846860 ORNTL PENINSULA 0.89 0.9 0.89 0.9 0.88 0.9 516000 457550 168270 PX MINING 2.69 2.7 2.75 2.8 2.68 2.69 3236000 8745270 -2266880 SEMIRARA MINING 26 26.1 26.1 26.1 25.5 26 560600 14540575 -838505 UNITED PARAGON 0.0061 0.0063 0.0058 0.0068 0.0058 0.0061 8000000 50600 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 20900000 264900 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.012 700000 9000 -7800 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.012 19200000 226100 PHINMA PETRO 3.89 3.9 3.93 3.93 3.9 3.9 113000 441870 PXP ENERGY 17.22 17.24 19.2 19.66 17.2 17.22 20480300 373277672 8614551.9996

PREFFERED HOUSE PREF A AC PREF B2 ALCO PREF B SMC FB PREF 2 GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3B PCOR PREF 2A PCOR PREF 2B SMC PREF 2B SMC PREF 2D SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

93 470 96 969 895 1 99.5 101.9 900.5 999 75.2 71.4 74.1 73.65 72 73.3

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.2 5.06

95 492 98.95 990 925 1.03 101 108.9 990 1000 75.95 73 74.95 74.5 73.9 73.5

95 488 95.5 990 925 1.02 99.5 105 990 1002 75.4 73 74.3 75 74 73.1

95 492 95.5 990 925 1.02 99.5 105 990 1002 75.4 73 74.3 75 74 73.5

95 480 95.5 990 925 1 99.5 105 990 999 75 73 74.3 74.5 72 73.1

95 492 95.5 990 925 1 99.5 105 990 999 75.2 73 74.3 74.5 73.9 73.5

200 14490 2900 150 100 1015000 400 100 80 235 78890 230 11450 29400 461000 1620

19000 7034360 276950 148500 92500 1020430 39800 10500 79200 235115 5925416 16790 850735 2190350 34094200 118430

20000 -

19.5 5.24

- -

WARRANTS LR WARRANT

1.64

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.03 MAKATI FINANCE 2.66 XURPAS 1.23

1.68

1.62

1.71

1.56

1.68

293000

481910

4.1 2.95 1.24

4.18 2.99 1.14

4.18 2.99 1.27

3.91 2.99 1.14

4.07 2.99 1.23

455000 2000 5416000

1822380 5980 6595970

48480 -2395040

EXHANGE TRADE FUNDS FIRST METRO ETF

108.4

108.7

108.4

108.8

107

108.4

6850

740533

Editor: Efleda P. Campos

SM breaks ground for SMX Convention, Park Inn Clark By Ashley Manabat Correspondent

LARK FREEPORT—Close to P1 billion will be invested by SM Hotels and Conventions Corp. (SMHCC) into two new buildings at the SM City Clark complex here. On Tuesday SMHCC executives led by its EVP Peggy Angeles broke ground for the construction of the SMX Convention Center Clark and the 100 additional rooms for Park Inn Hotel by Radisson Clark. Joining Angeles at the groundbreaking were Mabalacat City Mayor Cris Garbo and SMHCC executives Agnes Pacis and Neil M. Ramboa, SMX Convention Center Vice President and GM Walid Wafik, as well as Park Inn Hotel By Radisson Clark GM Ann Olalo

and SM City Clark mall manager Andrea Madlangbayan. Angeles said the first to be opened is the SMX Convention Center, which is easier to build, in January 2020, while the additional rooms for Park Inn will be opened two months later in March 2020. Olalo said the expansion of Park Inn is a commitment. “We recognized that Clark is a high gold market for us, especially the strong demand of business and leisure travelers. So, we would like to

DMW sells ₧1.2-B units in Aseana devt By VG Cabuag

@villygc

M Wenceslao and Associates Inc. (DMW) on Tuesday said its wholly owned subsidiary Aseana Residential Holdings Corp. has sold P1.2 billion worth of units during the launch of its second residential project, MidPark Towers in Aseana City in Parañaque. “The successful reception of the MidPark Towers is a demonstration of our customers’ growing confidence in our ability to deliver quality residential products,” Delfin Angelo C. Wenceslao, the company's CEO, said in a statement. Comprising four 15-story buildings, MidPark Towers offers various sizes ranging from 36 square meters for a studio unit to 108 sq m for a threebedroom unit. It features multiple indoor and outdoor gathering spaces, immediate neighborhood amenities and locational conveniences, such as airports and lifestyle options, and reflects

modern architecture built in minimalist leanings against a full-glass façade overlooking Aseana City’s greenway—a pedestrian park and promenade that stretches from Roxas Boulevard to Manila Bay, the company said. “MidPark homeowners want to live in a walkable and wellconnected progressive community. They look for a combination of public spaces, innovative entertainment and retail concepts and an environment that is both pedestrian-friendly and transitoriented,” Wenceslao said. MidPark Towers is bordered by two main avenues—Aseana Avenue and Macapagal Boulevard. The property is within walking distance from Ayala Malls Bay Area and the planned Light Rail Transit Aseana station. MidPark Towers is situated within 2 to 5 kilometers from all terminals of the Ninoy Aquino International Airport and the recently inaugurated Parañaque Integrated Terminal Exchange.

Hari reports record-high vehicle sales in October By Elijah Felice E. Rosales @alyasjah

HE automotive industry could be headed toward stability in the fourth quarter, as Hyundai Asia Resources Inc. (Hari) recorded a new high this year with its October sales. In a report on Tuesday, Hari’s sales in October expanded 9.6 percent to 3,578 units from 3,266 units during the same month last year. This was largely due to the car distributor’s light commercial vehicle sales, which grew 79.9 percent to 2,074 units, from the previous year’s 1,153 units. However, Hari’s total passenger car sales in October declined 28.8 percent to 1,504 units, from 2,113 units during the same month last year. This put the firm’s 10-month sales at 29,018 units, down 5.5

percent, from the previous year’s 30,717 units. “Last October’s performance only reflects the performance of the automotive industry is beginning to normalize. Our growth outlook remains upbeat for the remainder of the year,” Hari President and CEO Maria Fe PerezAgudo said. The automotive industry was heavily hit by the Tax Reform for Acceleration and Inclusion, which imposed excise tax on automobiles. This, coupled with rising inflation, dampened the sales of car firms, especially in the first semester. “Hyundai is optimistic as economic headwinds are expected to slow down. The brand is in a strong position to take advantage of the remainder of the year, as sales are expected to increase in the last two months of 2018,” the firm said.

piggyback on all of these developments in Clark by expanding an additional 100 rooms for our current inventory of 154 rooms,” Olalo said. “Since we are across the SMX Convention site, this gives us the opportunity to cater MICE [meetings, incentives, conferencing, exhibitions]. We become the default hotel,” she added. Wafik gave a brief backgrounder of the SMX Convention Center which he said started in Manila next to the Mall of Asia. With the expansions, SMX has a total of seven locations, with most of them inside the SM malls except the one near MOA and here in Clark. Wafik said SMX Convention Center Clark will cover an area of 4,000 square meter, which will have three trade halls on the ground floor, three function rooms on the second floor and 14 meeting rooms. Wafik said the development of the Diosdado Macapagal International Airport (DMIA) here “is the

MUTUAL FUNDS

reason why we came to Clark.” He added, “The repeated requests of organizers in Manila who asked if we have anything in the north gave us the drive to come up to Clark, as well as the present development here, especially with the new airport terminal because we would also like to market for international events and have Clark join in the circle of events that go around and tour South East Asia.” Madlangbayan assured mall goers of ample parking space as plans are now afoot for the construction of steel-deck parking that can accommodate up to 5,000 cars. Garbo assured the seamless collaboration of the local government unit of Mabalacat City with the development of SMHCC. SMX Convention Center Clark will be the second stand-alone convention center after SMX Manila. SM City Complex here is a mere 15-minute drive to the DMIA.

November 20, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 246.38 -13.77% 0.45% 1.12% -15.97% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3597 -14.5% 4.08% 2.01% -14.85% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8095 -14.55% 0.87% -0.09% -17.05% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8742 -13.86% N.A. N.A. -14.04% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8105 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.1281 -12.79% -1.18% 0.7% -14.72% MBG EQUITY INVESTMENT FUND, INC. * ****** 108.49 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8221 -14.98% N.A. N.A. -17.19% PAMI EQUITY INDEX FUND, INC.* 48.0299 -12.43% 1.39% N.A. -14.83% PHILAM STRATEGIC GROWTH FUND, INC.* 501.47 -12.62% -0.01% 0.37% -14.78% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2323 -10.66% 1.95% N.A. -12.25% PHILEQUITY FUND, INC.* 35.8607 -10.83% 2.43% 3.29% -12.74% PHILEQUITY PSE INDEX FUND INC.* 4.8319 -12.37% 2.13% 3.06% -14.84% PHILIPPINE STOCK INDEX FUND CORP.* 806.94 -12.22% 1.93% 2.96% -14.67% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8389 -11.33% -0.51% N.A. -13.26% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9964 -10.48% 2.03% 1.49% -12.75% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.93 -12.52% 1.94% N.A. -14.94% UNITED FUND, INC.* 3.4179 -9.18% 3.03% 1.84% -12.23% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* ***107.8298 -11.87% 3.1% N.A. -14.39% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9581 -13.53% 2.52% -0.49% -13.55% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1966 -2.97% N.A. N.A. -5.42% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6315 -10.79% -1.64% -1.85% -12.45% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1736 -10.04% 0.36% 0.19% -11.53% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4804 -9.38% -2.77% -2.27% -10.45% GREPALIFE BALANCED FUND CORPORATION* **** 1.2863 -10.42% N.A. N.A. -11.59% NCM MUTUAL FUND OF THE PHILS., INC* 1.8172 -6.87% 0.85% 0.76% -8.8% PAMI HORIZON FUND, INC.* 3.4599 -10.15% -0.74% -0.23% -11.69% PHILAM FUND, INC.* 15.597 -9.79% -0.6% -0.28% -11.17% SOLIDARITAS FUND, INC.* ******** 2.0295 -8.32% 0.75% 1.81% -9.48% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6067 -8.17% 0.47% 0.24% -9.75% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9167 -8.07% -0.09% N.A. -10.15% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03464 -4.15% -0.76% 1.2% -4.04% PAMI ASIA BALANCED FUND, INC.* $0.9415 -9.94% 2.15% -1.59% -10.08% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4826 -2.65% 3.86% 1.99% -4.65% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0358 -5.8% N.A. N.A. -6.87% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342.22 1.79% 1.99% 1.61% 1.52% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8521 -1.98% -0.83% -0.73% -2.12% COCOLIFE FIXED INCOME FUND, INC.* 2.9562 5.56% 5.38% 5.25% 4.76% EKKLESIA MUTUAL FUND INC.* 2.1243 1.02% 1.44% 0.99% 1.05% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2034 -0.56% -0.05% 0.09% -0.58% GREPALIFE FIXED INCOME FUND CORP.* P 1.5609 -3.14% -0.57% -1.66% -3.02% PHILAM BOND FUND, INC.* 3.8619 -4.81% -0.97% -1.02% -4.64% PHILEQUITY PESO BOND FUND, INC.* 3.4775 -0.46% 0.23% -0.32% -0.78% SOLDIVO BOND FUND, INC. * 0.8833 -4.28% -1.22% N.A. -4.32% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7518 -0.92% 0.77% 0.01% -0.91% SUN LIFE PROSPERITY GS FUND, INC.* 1.5266 -1.51% 0.28% -0.4% -1.49% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $446.7 0.4% 2.27% 2.97% 0.17% ALFM EURO BOND FUND, INC. * Є212.76 -0.21% 1.05% 1.54% -0.45% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1221 -1.15% 0.81% 1.76% -1.06% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6874 -4.94% -0.49% 1.03% -4.75% 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* $1.0248 -5.01% -0.7% -2.73% -4.54% PHILAM DOLLAR BOND FUND, INC.* $2.1364 -4.65% 0.32% 2.34% -5.09% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568983 -1.02% 0.86% 1.8% -0.53% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.869 -4.81% 0.48% 1.58% -4.77% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.28 2.49% 1.74% 1.49% 2.27% PHILAM MANAGED INCOME FUND, INC.* 1.1773 1.85% 0.46% 0.43% 1.72% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2141 2.54% 2.21% 1.49% 2.41% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.014 1.63% N.A. N.A. 1.53% * - 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

ADB: Small bond market PHL’s aegis vs ill effects of high interest rates

By Cai U. Ordinario

@cuo_bm

HE relatively smaller size of the Philippine local currency bond market shielded it from the ill effects of high interest rates and allowed it to still post a positive growth in the third quarter, according to the Asian Development Bank (ADB). In its Asian Bond Monitor (ABM), the Manila-based multilateral lender said the local bond market size was little changed as of endSeptember at $107 billion, growing 0.9 percent on a quarterly basis and 11.2 percent on a year-on-year basis. The size of the government bond market expanded 0.04 percent on a quarterly basis and 9 percent on a yearly basis to $85 billion, while the corporate bond market expanded 4.3 percent on quarter and 20.1

percent year-on-year to $22 billion. “Concerns about emerging markets are looming, but ultimately, Asia’s strong fundamentals should attract investors back to the region’s local currency bonds markets,” ADB Chief Economist Yasuyuki Sawada said. “That said, the region’s policymakers must closely monitor developments and keep up their guard against potential shocks.” The ADB, however, said Philippine bond yields of all tenors grew

an average 189 basis points from August 31 to October 15. This, despite the Central Bank’s decision to increase policy rates by 50-basis points twice in the period. This was higher than the usual 25-basispoint rate increase. “[The Philippines’s bond yields outpaced] the rest of emerging East Asia during the period, as the Central Bank implemented larger-thanexpected policy rate increases to curb rising inflation,” the ADB said. The report also showed emerging East Asia’s bond market expanded 4.3 percent in the third quarter versus the second quarter to stand at $12.8 trillion at the end of September. The growth rate was faster than the 3.2-percent pace seen in the second quarter. The thirdquarter growth came largely on the back of strong issuance of bonds in the People’s Republic of China (PRC), notably bonds issued by local governments for infrastructure projects. As of end-September, the PRC had the largest bond market in

emerging East Asia with $9.2 trillion of bonds outstanding, 72 percent of the regional total, and 5.7 percent more than at the end of June. Foreign holdings of local currency government bonds fell slightly across much of emerging East Asia in the third quarter of 2018, with the exception of the Philippines and the PRC. The share of foreign holdings in the PRC rose due to ongoing bond market liberalization. “Market participants continue to say that the absence of well-functioning bond hedging mechanisms and the lack of a diverse investor base are the biggest barriers to market development,” the ADB said. The ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017 ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.

Higher alcohol tax rates UnionBank lends ₧5 billion for various MPIC projects receive Congress M committee approval

HE House Committee on Ways and Means on Tuesday approved a substitute bill increasing alcohol excise tax rates in the country starting January 2019. The unnumbered substitute bill seeks to increase the excise tax imposed on distilled spirits by P6.60, compared to what is implemented under Republic Act 10351, or Excise Tax Reform Law on alcohol and tobacco. Starting January next year, an ad valorem rate of 22 percent including specific tax rates per proof liter of P30, P35, P40, P45 from 2019 to 2022 will be imposed on distilled spirits; and it will be increased by 7 percent annually starting 2023. Currently, RA 10351 is imposing distilled spirits a P22.40 specific tax and an ad valorem tax of 20 percent. The committee also approved a shift to a unitary rate of P650 plus ad valorem of 15 percent for sparkling wines, compared to the two-tiered system under RA 10351. It will be increased by 7 percent annually starting 2023. Meanwhile, the tax on still and carbonated wines with lower than 14-percent alcohol content was increased by P2.10 (from P37.90 to P40), while those with an alcohol content higher than 14 percent saw a P4.10 increase effective January 2019. It will be increased by 7 percent every year thereafter. Also, the approved tax rate on fermented liquors was P28, or P2.60 higher than the P25.40 tax rate mandated by RA 10351. It will be increased by 7 percent every year thereafter. House Committee on Ways and Means Chairman Estrellita B. Suansing of Nueva Ecija said the committee report will be submitted to the plenary for another round of deliberations.

Minimal

JO-ANN L. DIOSANA, head of the fiscal policy team of nongovernment Action for Economic Reforms, questioned the minimal incremental revenue that the approved tax rates would generate. “It is very disappointing that the committee in charge of looking for effective revenue-generating measures chose to settle for a measure that would generate only P7.8 billion in incremental revenue, while Suansing’s bill was expected to generate around P43 billion in incremental revenue. It is especially alarming, because a significant funding gap still exists for the UHC [universal health care] bill. Without a sustainable source of funds, we will not be able to reap the benefits of such a landmark reform,” she said. The UHC bill is currently going through the bicameral conference com-

mittee and is expected to be signed into law by the end of the year. According to the Department of Health, around P164 billion in incremental funds still needs to be generated to ensure its proper implementation.

Health

HEALTH professionals and civilsociety groups on Tuesday slammed the approved version of the Ways and Means committee. In a statement, Maricar Limpin of the Action on Smoking and Health Philippines and head of the Cluster on Public Health of the Philippine College of Physicians, said the committee’s approved version will not prevent Filipinos from being exposed to the adverse health and social effects of alcohol consumption. “Today is a sad day for the health and well-being of the Filipino people. The alcohol tax rates approved [by the Committee on Ways and Means] will neither prevent Filipinos from being exposed to the adverse health and social effects of alcohol consumption nor generate a significant amount of revenue that would be crucial in funding key health measures in the country,” Limpin said. “Scientific evidence now shows that alcohol consumption at any levels increases risk to cancers, especially cancers of the gut. More than revenue, we are looking at alcohol tax as a health measure,” Limpin added. However, the approved rates pale significantly in comparison to the rates proposed in House Bill 8286 authored by Rep. Horacio Suansing of Sultan Kudarat. In his bill, Suansing proposed to increase the tax on distilled spirits by P16.60, a two-tiered system on sparkling wines of P335 for the first tier and P937 for the second, and a tax increase by P14.60 on fermented liquors. The tax rate on still and carbonated wines was the only measure adopted by the Committee on Ways and Means. Anthony C. Leachon, former president of the Philippine College of Physicians, said every year, there are over 37,000 deaths that are attributable to alcohol consumption, and alcohol drinking prevalence has remained stable at over 40 perccent despite the past tax increase. “Today’s hearing served as an opportunity to significantly increase the excise tax and discourage its use, the same way the tax increase has decreased cigarette smoking,” the doctor said. “Instead, we were given an alarmingly low tax increase, and the well-being of our countrymen remains at great risk.” Jovee Marie N. dela Cruz

ETRO Pacific Investments Corp. (MPIC) on Tuesday said it has secured a 10-year term loan of P5 billion from Union Bank of the Philippines (UnionBank). In its disclosure to the Philippine Stock Exchange, the MPIC said the loan proceeds will be used to finance its investment in various projects and for other general corporate purposes. “The loan will bear a fixed interest rate for the entire term of the loan,” it said. MPIC also signed on Tuesday a P1-billion deal with Dole Philippines Inc. to design, construct and operate biogas facilities specifically for the pineapple canner. MPIC said its units Metpower Venture Partners Holdings Inc., through Surallah Biogas Ventures Corp., signed the deal on its behalf. The biogas facilities, located within the premises of Dole, aim to complement their existing operation by processing organic fruit waste from its Surallah and Polomolok facilities in South Cotabato, Mindanao, and harnessing renewable energy in the form of biogas. Suralla will produce about 50,000 megawatt-hour of clean energy annually to be used by Dole for power generation and fossil fuel substitute. “Both MPIC and Dole believe that this long-term project is an innovative, environment-friendly, and

sustainable waste management solution consistent with, and further elevates the business tradition of Dole,” it said. It claimed that the project will reduce its carbon emission by approximately 100,000 tons per year. This is MPIC’s first foray in bio-energy, which it said would be replicated to other parts in the country. MPIC’s core net income rose 8 percent during the nine months of the year to P12.2 billion, from last year’s P11.3 billion, but it warned it will have a flat growth during the last quarter of the year. David J. Nicol, the company’s chief finance officer, said MPIC’s core income may end the year at P15 billion, or slightly higher than last year’s P14.1 billion. “We think that fourth quarter will be flat on a year ago,” Nicol said earlier. Jose Ma. K. Lim, the company’s president and CEO, said increasing funding costs are likely to be a drag on its fourth-quarter core income, which would continue through next year. He said the company’s volume growth for most of its businesses in the third quarter slowed due to a combination of rising inflation and unusually damp and cool weather, “to which our residential customers in the power sector are especially sensitive.” VG Cabuag

Wednesday, November 21, 2018

Charter change is our business

ET this piece be an updating report, especially to my colleagues in business, on what the business sector is doing to be engaged in the move to amend our Cons t it ut io n — w h i c h p or t e nd s major consequences to all of us Filipinos. We might recall that on August 14, a joint statement was published by 26 business organizations expressing “Business Support Economic Mana gers’ C a l l to We ig h Cost s and Risks in Shift to Federal Government.” The Duterte administration’s economic team led by Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretar y Ernesto M. Pernia had stated, in a Senate hearing, that they had very serious reservations about pushing for a shift to a federal government at this time, citing particularly the heavy financial burdens it entailed for government plus other related ill effects to our fiscal program. The business group expressed its agreement to the concerns of the economic managers, but has gone beyond this joint statement. Seeing how the move to amend or revise the Constitution is a continuing serious effort by this administration and Congress, the business sector has taken the initiative to review the various proposals for constitutional changes—to compare, to analyze, to clarify, to point out consequences, good or bad, and to enlighten public discussion. After all, every provision in the Constitutional proposals affects all of us, and certainly all of us in the business community. The Financial Executives Institute of the Philippines (Finex) and the Management Association of the Philippines (MAP) are the joint convenors of a study group, which shall be— in fact, already is—conducting this review. The study group’s members are volunteers from the various business organizations, which cosponsored the joint statement. Notably active in this review effort are: the Foundation for Economic Freedom; the Institute of Corporate Directors; the Judicial Reform In it i at ive; Ma k at i Bu si ness Club; the Philippine Institute of Certified Public Accountants; Shareholders A ssociation of the Philippines; Bankers Association of the Philippines;

FINEX FREE ENTERPRISE Santiago F. Dumlao Jr. Philippine Chamber of Commerce and Industry; Employees’ Confederation of the Philippines; and Philippine Exporters Confederation. The study group (understandably, a fairly large membership) has constituted itself into four smaller study groups for convenience and manageability, considering how big an elephant the constitutional proposals represent. One will address the political aspects, to cover the form of government, allocation of powers, definition of functions and the rationale. The second will focus on the fiscal and economic aspects. The third will address issues of sub-national institutional governance and capacities, i.e. regional and local government units. The fourth will examine the various aspects of judicial reform in the proposals. A lready, the study groups have submitted preliminar y comments arising from their initial reviews. As might have been expected, there are questions about how the review process should proceed, and how to handle divergent views. Some guidelines have been established. The study group h a s dec ided to rev iew, a nd compare to the present 1987 Const it ut ion, t he proposed Bayanihan Constitution of the Puno Consultative Committee, the House of Representatives version and t he PDP-L aban version. And as for contrary points of view, there will be opportunities to record different opinions, all in the interest of allowing differing perspectives to be shared. The business sector study group knows its limitations, and will consult, as might be decided, experts on particular subjects or constitutional topics. Nor does the business sector study group pretend to substitute itself for a mini-constitutional commission or some such thing. But let it not be said that the business sector has not taken the responsibility of being engaged in this fundamental citizens’ exercise of charting our future.

RCBC, Visa tapped for AirAsia credit card

HE local business of AirAsia Group Bhd. has partnered with the credit-card business of Rizal Commercial Banking Corp. (RCBC) and the local business of Visa Inc. for the low-cost airline’s credit card. AirAsia Inc. announced in a statement the launch of the new AirAsia Credit Card in the Philippines, which “will make more people travel to their dream destinations faster with the airline.” The airline said credit cardholders can “enjoy the lowest flight fares across AirAsia’s extensive network,” as well as “perks and privileges every time they spend with their AirAsia Credit Card.” The airline said it would give cardholders 8,000 BIG—the company’s loyalty card brand—points that will start them earning free flights when booking during the Final Call Sales and instant upgrade to the BIG Platinum membership status and free priority check-in, boarding and baggage every time they fly with AirAsia. These cardholders would also have a low spend per point

RCBC Bankard Services Corp. President and CEO Simon Javier A. Calasanz is flanked by unknown persons during the launch of the AirAsia credit card.

conversion at P22, the airline said. AirAsia CEO Captain Dexter M. Comendador said “this dynamic collaboration between RCBC and AirAsia Berhad represents an exciting step forward in our ongoing journey

toward providing modern travel experiences for our guests. “With AirAsia credit card, we are providing amazing opportunities and exclusive privileges for every guest to create memorable travel experiences wheth-

er they are on ground shopping, dining or flying to AirAsia destinations in the Philippines connecting across all Asean countries, including Asia, Australia and New Zealand, Middle East and Hawaii in United States. “

B4 Wednesday, November 21, 2018

THIS YEAR IS A GLITTER CRITTER CHRISTMAS AT SM CITY NORTH EDUCATION CENTRE OF AUSTRALIA EXPANDS MAPÚA UNIVERSITY TIE-UP WITH DUAL DEGREE AND PATHWAYS PROGRAM

HE Educat ion Centre of Australia (EC A) is proud to announce the ex pansion of their international collaborations with Mapúa University through a Dual Degree and Pathways Program. EC A a nd M apú a bega n t hei r collaboration w ith a Short Study Program to Australia in June of 2018. The two institutions have now expanded their partnership which aims to provide global education opportunities to Filipino students. Both organizations grow internationally. Mapúa intensifies its linkages in the international academic arena, while ECA continues to expand its operations in the Philippines.

T he s e ne w p ro g r a m s w i l l b e offered in a blended learning mode on the Mapúa campuses. T he first such course to be offered is t he i nter n at ion a l ly-recog n i zed M a ste r of Bu s i nes s a nd P roje c t M a n a g e m e nt . T h i s i s a u n i q u e course designed to develop strategic business management coupled with project management expertise. The Dual Degree program offers students the opportunity to obtain both a local and an international degree while studying in the Philippines. As students study the program within the Mapúa campus, they are also introduced to, learn, and understand the Australian educational system and its international cur r icu lum. T his prog ram prov ides st udent s w it h t he opportunity to pathway to Australia in order to complete their studies. This collaboration serves as a gateway for studentswishingtostudy at some of the world’s leading universities. Completing an international degree

while studying locally means significant savings in the overall cost package for tuition fees and living costs abroad. Careers in project management are in high demand nowadays around the world, this program presents a significant opportunity to further career plans. In photo are (standing, from left) Carmina Palmos, ECA Philippines Project Manager; Vince Alfonzetti, Melbourne Campus Manager; Adelina David, ECA Philippines Country Manager; Engr. Alben Rome Bagabaldo, Mapúa Program Chairman for Construction Engineering Management; Dr. Francis Aldrine Uy, Mapúa Dean for School of Civil, Environmental, and Geological Eng ineer ing ; Eng r. Re x Aurel ius Robielos, Mapúa Dean for School of Industrial Engineering and Engineering Management; Sheina Salvador, Mapúa Admission Coordinator; (sitting, from left) Fernando Scarmozzino, ECA Vice President for International Relation and Manager of ECA Group Campuses; Grace Halcon, Austrade Education Manager, Manila; Rupesh Signh, ECA CEO; Dr. Reynaldo Vea, Mapúa President/ Chairman; Engr. Eira Rosette Camus, Mapúa International Program Director; and Attorney Lilly Freida Milla, CHED Director III, International Affairs Service.

M City North EDSA makes kids and kids at heart experience Christmas like never before with its cute critters visitors from the outside world. An original creation of SM City North EDSA, the Glitter Critter characters visit the mall to experience Christmas for the first time and will take over SM City North EDSA in granting wishes and giving joy to shoppers. Days before the launch, webisodes were posted online sharing the journey of the Critters and their discovery of Christmas. In the eight-episode videos, these cute Critters of Planet Hapitu make their biggest discovery and found a spectacular place full of wonder and joy. Cap, the captain of the expedition and the wisest of all the Critters, is looking for explorers from the citizens of Planet Hapitu to join him on his mission toward the happiest place in the universe. After their arrival, the Glitter Critter Characters—Cap, Boom, Chum, Lox, Oola and Lala, Puchik, Ching, Twinkle, Mick, and Baloo and Baba—explore the mall and discover Christmas, and decided to make it even more festive and fun. Cap, together with the Glitter Critters, transforms The Block and Sky Garden into a happy play park in glittering lights, where the Glitter Critters play around and enjoy the holiday season. During the launch, SM Chief Operating Officer Steven Tan and SM Supermalls Senior Vice President for Marketing Joaquin San Agustin lead the lighting of 39-foot modern Glitter Critter play Christmas tree.

Families of celebrities Aubrey Montero, Princess Velasco, Camille Pratts, Vanessa Matsunaga and Dimples Romana, as well as other guests join in to the fun and had their photo taken with the Glitter Critter character mascots. The evening ended with a spectacular firework display and live concert featuring Autotelic. The fun continues at the Sky Garden with the Glitter Critter larger-than-life play park installations. The Glitter Critter characters, lead by Cap with Boom, Puchik, Twinkle, Chum, Baba, Baloo and Lox, invite everyone to play with them at the Kids’ Mountain. Baloo and Baba pilots the Space Shuttle Sleigh to deliver gifts and Christmas magic. Experience the thrill and Christmas chill with Glitter Critter characters Chum, Puchik, Ching and Mik at The Fun Christmas roller-coaster ride. This Christmas SM City North will make the world go rawr, as mall-goers will also experience the feeling of Christmas like the first time in the special meet-and-greet sessions with the Glitter Critter characters on November 17 and 24, and December 1, 8, 15, 22 and 29. Other activities at the North include live performances from Ben & Ben, Keiko Necessario, Leanne & Naara, and December Avenue; Santa meet and greet on December 2, 9, 23, 24 and 25; and the National University Chorale Performance on December 7; a magical science show by Nutty Scientist on November 30 and December 16; and fireworks display on December 15, 22 and 29.

B.A.S.F. RELATES SCIENTIFIC KNOWLEDGE TO KIDS IN AN INTERACTIVE WAY

ROUND 450 children aged 8 to 12 learned of chemistry and nutrition through safe, hands-on experiments at the BASF Kids’ Lab. This interactive science education program was held from October 19 to 21 at The Mind Museum. “Through BASF Kids’ Lab, we provide kids from [various] backgrounds with the opportunity to [learn of] chemistry through hands-on experiments. This year to celebrate the United Nations’ World Food Day on October 16, we are introducing a new series of experiments: The Clever Foodies program. This program helps boost children’s dietary awareness and encourage them to make positive changes toward healthier eating,” said Ronald Mercado, BASF Philippines managing director. At the event mentors guided elementary-school children from public schools in Taguig, as well as from Gawad Kalinga communities, as they explore and analyze the Vitamin C content and other substances contained in fruit and vegetables, and understand the benefits of eating a colorful range of vegetables and fruit. The BASF Kids’ Lab focuses on fostering learning and interest in chemistry among children through safe and interactive science experiments. First held in BASF’s

headquarters in Ludwigshafen, Germany, in 1997, the program has been brought to more than 30 countries across the globe. The Clever Foodies program was first developed to mark the 20th anniversary of the BASF Kids’ Lab. The BASF Kids’ Lab has been held the Philippines since 2005, helping more than 3,000 children discover the world of chemistry in daily life and understand scientific concepts. The BASF is an active supporter of education projects in the Philippines. Together with The Mind Museum, the Philippines’s leading science museum, it unveiled in September the virtual chemical reactions interactive touch table at the Atom Gallery of the museum. A one of its kind in the country, the virtual chemical reactions interactive touch table donated by BASF uses digital simulations, audio and colorful animations to help children explore the world of chemistry, so they can observe chemical reactions between various substances in a completely safe and interactive environment. In the Philippines, BASF has been enabling manufacturers in various industries since 1963. Today BASF Philippines Inc. is a leading supplier of chemicals for industries, including construction and coatings, automotive, health and nutrition, personal and home care, chemicals and plastics, and agriculture. BASF also operates an agricultural research station, which conducts research, laboratory studies and field testing of novel technologies as part of BASF’s global research effort in the field of agricultural solutions. In 2017 BASF posted sales to customers in Philippines of approximately €119 million and employed 88 people as of the end of the year. Further information on BASF in the Philippines is available at www.basf.com/ph.

INSULAR FOUNDATION LAUNCHES MARAWI CITY REHABILITATION PROJECT WITH SAVE THE CHILDREN

YEAR after the liberation of Marawi City, Insular Foundation, together with Save the Children Philippines, launched the Balik Marawi, Balik Eskwela project for the benefit of 1,000 displaced school children in the war-torn province. Insular Foundation chairman Nina D. Aguas, vice chairman Mona Lisa B. de la Cruz and Save the Children Philippines Chief Executive Officer lawyer Albert Muyot sealed the partnership with the signing of a memorandum of agreement, where Insular Foundation will be providing P1.9 million in funding that will benefit 20 schools with materials, such as teacher’s tables, children’s armchairs and teacher kits for Early Childhood Care and Development (ECCD). Last year when Marawi was declared an armed-conflict zone, Insular Foundation also gave an immediate educational

response in the form of temporary learning spaces and backto-school kits to the affected school children. According to the Child Protection Rapid Assessment of the Department of Social Welfare and Development, at least 86,000 children were affected by the siege, with an estimated 22,700 of them still missing out on their classes. The war left deep psychological scars to the affected children as they suffer from psychological stress, sleeping problems, nightmares, withdrawal, lack of focus and feelings of guilt. Insular Foundation is once again putting into action its commitment to create an enabling environment for Filipinos toward total human development through its continuing educational intervention for Marawi City. In photo are (from left) de la Cruz, Aguas, Muyot and Save the Children partnership manager Riel Succor-Andaluz.

UNBELIEVABLE! Sports BusinessMirror

KEMBA WALKER refuses to lose this time. AP

NBA RESULTS Charlotte 117, Boston 112 Detroit 113, Cleveland 102 Indiana 121, Utah 94 Philadelphia 119, Phoenix 114 LA Clippers 127, Atlanta 119 Memphis 98, Dallas 88 Milwaukee 104, Denver 98 New Orleans 140, San Antonio 126 Sacramento 117, Oklahoma City 113

| Wednesday, November 21, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Steve Reed

The Associated Press

HARLOTTE, North Carolina— The National Basketball Association’s (NBA) new scoring leader was determined his latest big night wouldn’t go to waste. Kemba Walker scored 43 points, giving him 103 in his last two games, and the Charlotte Hornets battled back to beat the Boston Celtics, 117-112, on Monday night. Walker followed up his NBA season-best, 60-point effort in an overtime loss to the 76ers on Saturday night with another spectacular performance. He scored 21 points in the fourth quarter and made 14 of 25 shots overall, including seven more three-pointers. He finished 7 of 10 from the floor with four three-pointers in the fourth quarter as Charlotte erased a 10-point deficit to pull even at 8-8 on the season. “I just wanted to win, man,” Walker said. “I wanted to win a close game. We’ve been in every game for the most part. There’s a couple we haven’t been in but you know things just haven’t been going our way in those situations and tonight it did and it felt good.” Walker passed Golden State’s guard Stephen Curry to take over the NBA scoring lead at 29.6 points per game. Walker also passed the injured Curry for the league lead in three-pointers made with 65. “It means a lot but it’s still the early season,” Walker said. “I would’ve never, ever in my life thought I would be that high up in the rankings as far as scoring in the NBA. But I’m going to try to keep it up, do what I can to win games.” Walker outdueled Boston’s Kyrie Irving, who finished with 27 points and 11 assists. Jeremy Lamb had 18 points and Willy Hernangomez added 14 as the Hornets beat the Celtics for the first time in eight tries. The Celtics entered the fourth quarter leading, 87-84, and quickly stretched the lead to double digits behind Irving, who scored and was fouled on a drive. But Walker refused to lose this time. The two-time All-Star simply took over, scoring on drives, midrange jumpers and from long distance. He scored 11 straight points in one stretch, including a three-pointer from the right wing and a nifty Euro step move through the lane.

“He’s been unbelievable, especially when your whole game plan is to stop him and he is still going off and doing what he does,” said Celtics forward Gordon Hayward. “He’s an unbelievable player.” It was Walker who delivered the knockout punch with a clutch three from 27 feet away with 32 seconds left, bringing fans to their feet and putting the Hornets up by six. Irving missed two open threes down the stretch and the Hornets escaped with the win to pull even at .500. After one big shot, a pumped-up Walker screamed “This is my city!” “We were looking for another 60 but I think 43 will do tonight,” joked Hornets Coach James Borrego. “He’s incredible. This is a special player, a special performance and a special start to an NBA season.” Joel Embiid scored 19 of his 33 points after halftime and added 17 rebounds to help Philadelphia beat Phoenix, 119-114. Ben Simmons added 19 points, 11 rebounds and nine assists for Philadelphia, which won its third straight while improving to 9-0 at home, remaining the only team in the league unbeaten at home. The 76ers play five of their next six in Philadelphia. Devin Booker had 37 points and eight assists for the Suns, who started a four-game road trip with their sixth loss in seven games. Phoenix, which fell to 3-13 overall and 0-7 on the road, has the worst record in the West and is one of three winless road teams in the NBA. Anthony Davis had 29 points and nine rebounds, Julius Randle added 21 points, 14 rebounds and 10 assists in 25 minutes, and New Orleans won its third straight at the expense of the San Antonio Spurs, 140-126. Randle

injected the Pelicans with the hustle and play-making they needed from their top reserve. He had six of New Orleans’ 14 offensive rebounds as New Orleans totaled 21 secondchance points. He also made nine of his 13 shots.

LEVERT: OBVIOUSLY, I’M VERY BLESSED B

ROOKLYN forward Caris LeVert felt the pain in his right foot, and thought it was just a sprain. That is, until he looked down. A week removed from dislocating his right foot—a grotesque injury that looked so much worse than what it actually was—LeVert spoke out on Monday about what happened and his plans for the future. “The pain level felt like a regular sprain and I knew I kind of fell on the side of my ankle,” LeVert said, talking to reporters at the Nets’ facility in Brooklyn, New York. “And obviously when I looked at it, I was like, ‘Wow, that’s messed up.’” Somehow, the worst was over within a few minutes of him getting hurt on November 12 at Minnesota. After he was wheeled off the court and taken to the back of the arena, medical staff

JOSH RICHARDSON’S shoe toss is predictably costly. AP

OLYMPIC Council of Asia President Sheikh Ahmad al-Fahad al-Sabah is seen addressing the closing ceremony for the 18th Asian Games in Jakarta in September. AP

Kuwaiti Olympic powerbroker indicted, faces Swiss forgery trial

ENEVA—Facing a criminal trial in Switzerland, Olympic powerbroker Sheikh Ahmad al-Fahad al-Sabah temporarily stepped aside from his International Olympic Committee (IOC) work on Monday. The Kuwaiti sheikh denies wrongdoing but said in a statement he did not want “these politically motivated allegations to distract attention” from the Olympic movement’s work. “Sheikh Ahmad has every confidence and trust in the Swiss courts and IOC Ethics Commission’s impartial due processes,” the statement from his personal office in Kuwait said. “He fully intends to continue serving the IOC again at the earliest opportunity.” The sheikh has been indicted for forgery in Geneva and faces a prison sentence of up to 10 years, city daily Le Temps reported. The investigation arose from a dispute with another royal family member, who is a former prime minister of Kuwait. Sheikh Ahmad has been an IOC member for 26 years, a close ally of president Thomas Bach, and leads the global and Asian groups of national Olympic bodies. He also chairs an IOC panel which will give $500 million to Olympic bodies and athletes before the 2020 Tokyo Games. He is due to be reelected unopposed in Tokyo next week as president of the global Olympic group known as ANOC. The IOC said in a statement its ethics panel can intervene for misconduct “even if it is not related to sport.” The Olympic ethics panel had confirmed last year it was studying separate allegations against Sheikh Ahmad popped his foot back into place—the most painful part of the whole experience, LeVert said. He was taken to a hospital for further tests that night, learned there was no other major damage, and he wound up flying home with the Nets that night. “Obviously, I’m very blessed, because it could have been a lot worse,” LeVert said. LeVert was having a breakout season for Brooklyn, with seven 20-point games already—matching the total from his first two full seasons in the NBA. He was averaging 18.4 points per game, which leads the Nets, and was posting career-best averages in scoring, rebounds and assists, along with a career-high shooting percentage from the floor. There’s no timetable for LeVert’s return, but the Nets say his coming back at some point this season is the expectation. “Initially, I was frustrated, felt kind of defeated,” LeVert said. “I felt like it wasn’t fair. But everything happens for a reason. It’s not a very, very, very serious injury to the point where the way I play basketball will be different. I feel like I’ll still be the same player. I’ll be a better player when I come back. I feel like maybe the time off is the best thing for me, maybe best for the team.” LeVert said his spirits were boosted by so many fans and players reaching out to him on social media. He said some players also got his phone number and sent texts, though he isn’t sure how some of them got the number. “It’s been great,” LeVert said. “It’s been overwhelming, for sure.”

relating to bribery in international soccer elections. Sheikh Ahmad left the Fifa Council days after being identified in April 2017 as “co-conspirator 2” in American federal court documents. The spinoff case of the US Department of Justice’s sprawling investigation of corruption linked to Fifa detailed payments from the Olympic Council of Asia to win influence with soccer officials. A member of the Fifa audit committee from Guam pleaded guilty and said he understood “co-conspirator 2” was the source of the bribes. The Geneva public prosecutor’s investigation was first reported in 2016 by Le Temps. It reported late Friday that an indictment was filed this month against the sheikh and four others, including three lawyers. During an alleged political rivalry between Sheikh Ahmad and Sheikh Nasser al Sabah, a video circulated on social media in 2013 seeming to implicate the former prime minister. It is claimed Sheikh Ahmad and lawyers acting for him later took part in a false arbitration case held in Geneva, staged to try to prove the authenticity of the video. Kuwaiti authorities later ruled against Sheikh Ahmad and he read a public apology on national television in 2015. In fallout that year, Kuwait was suspended by Fifa and the IOC over a proposed law which broke their rules prohibiting government interference in sports. Still, Sheikh Ahmad continued to have some influence within Fifa—sitting on an anti-corruption reform panel in 2015—and a greater say in Olympic affairs as a trusted Bach supporter. AP Josh Richardson’s shoe toss, meanwhile, was predictably costly. The National Basketball Association (NBA) fined the Miami Heat guard $25,000 on Monday, one day after he threw one of his sneakers several rows into the stands midway through the fourth quarter of a loss to the Los Angeles Lakers. Richardson was ejected as part of that outburst, which started after he thought he got fouled moments earlier and nothing was called. It was a frustrating night in many respects for the Heat, who lost, 113-97, and fell to 6-10 on the season. “I can’t really do anything about it at this point,” said Richardson, who spoke with NBA officials by phone earlier Monday to give his side of the story before the discipline was meted out. “I’m just going to learn from it and go forward.” Heat Coach Erik Spoelstra lauded Richardson’s competitiveness but did not give him a pass for throwing something into the crowd—and stressed that things have to start changing for Miami soon. The Heat play host to Brooklyn on Tuesday night. “There’s some behavior that’s unacceptable,” Spoelstra said. “Throwing something into the stands, no matter how you look at it, is unacceptable. The competitive frustration right now, everybody should be feeling that. This should not be something that’s just deemed OK. It’s not. And we have to change it.” Richardson is Miami’s leading scorer this season, averaging 20.1 points through the season’s first 16 games. AP

Spo

Business

C2 Wednesday, November 21, 2018

READY TO RUMBLE! N

EW YORK—Dressed in a sharp gray suit and tie, Manny Pacquiao looked every bit the senator he is. It was his other job, though, that he was working on Monday when the eight-time champion announced a January 19 defense of his World Boxing Association (WBA) welterweight belt against Adrien Broner. “He’s one of the top boxers out there,” Pacquiao said of Broner, who attended the news conference in slightly different garb: torn jeans adorned with spangles, a t-shirt and black jacket. “Adrien Broner is a highcaliber fighter. “I have no problem to fight at 140 [pounds], it’s my natural weight. I can’t say I am avoiding [opponents], that is not my style. I am willing to find other fighters to fight, too, I am available to fight at 140, 147. It is 147 for this fight.” Pacquiao will be 40 when he enters the ring at the MGM Grand Garden Arena in Las Vegas to take on the 29-year-old Broner. It will be the Filipino’s 70th fight in a career that began in 1995 and has included titles in weight classes from flyweight to welterweight. He hasn’t fought in the United States in two years. Referred to by his followers as Senator Manny, Pacquiao won and then lost the World Boxing Organization welterweight crown following his lopsided loss to Floyd Mayweather in a May 2015 megafight. In July

MANNY PACQUIAO, dressed in a sharp gray suit and tie, faces off with challenger Adrien Broner, who attends the news conference garbed in torn jeans adorned with spangles, a t-shirt and black jacket. AP

he knocked out Lucas Matthysse for the WBA title, Pacquiao’s first KO victory since 2009 when he stopped Miguel Cotto in the final round. His government role will be placed aside, Pacquiao claims, while he prepares for Broner. “My opponent is fast, good, and I have to work hard and train hard so the people will be happy on January 19 when we give them a good fight,” said Pacquiao, who flashed a mischievous smile when asked if another encounter with the currently retired

Mayweather might be in the future. “I am fighting Adrien Broner,” Pacquiao said, adding he was with Mayweather in Japan and mentioned that he, not Mayweather, owned a belt, so “you come challenge me.” Broner views this as his chance to “become a legend.” As he strutted around the stage, his words at first were respectful toward Pacquiao, whom Broner “dreamed of fighting when I was a kid.” Soon, though, Broner was back to being Broner, the boastful, say-anything-character

who likes talking trash as much as throwing leather. “He ain’t fighting Floyd, he’s fighting me,” Broner said. “He’s gotta get past me first. “Of course, things he’s done in the game are unbelievable. I know January 19 I gotta be at the top of my game. I’m gonna [mess] him up.” Broner, from Cincinnati, is 33-3-1 with 24 knockouts. But he didn’t win either of his most recent fights, losing a unanimous decision to Mikey Garcia, who won his 36th straight, in July last year, and then drawing with Jessie Vargas. Which means recent results indicate neither he nor Pacquiao is in his prime or close to it. Still, they are big enough names for Showtime to put the fight on pay-perview television. Both men were asked if they are elite boxers now. Neither flinched in answering. “Yes, of course,” Pacquiao insisted. “I want to fight the greatest opponents in the world and one of them is Adrien Broner. I can fight anybody.” Broner shook his head and smirked when queried on his skill level these days. “I’m gonna do me; he’s gotta worry about what I do,” Broner said. “I know what he can do. “I got three losses, he’s got [seven]. He’s been knocked out; we know he can go to sleep. I got the stuff to do it. I’ll hit the jackpot overnight.”

FOTON’S CJ Rosario and Geselle Sy blocks Cocolife’s Justine Tiu.

VERA HUNGRY AS EVER

WO years is enough to make Brandon Vera a lot hungrier as he defends his heavyweight belt against Italian Mauro Cerilli right at home on Friday in ONE: Conquest of Champions at the Mall of Asia Arena in Pasay City. The 41-year-old Vera last fought in December 2016, where he defeated Japanese challenger Hideki Sekine via technical knockout in the first round.

After that bout, the Filipino-American went busy with his acting career—he co-starred with Anne Curtis in the movie BuyBust. Now, Vera wishes to brush off the rust of a two-year layoff when he goes back to his first love. “I owe the Philippines a lot for inspiring me to work harder than I ever have before. Am I ready after spending two years away from the cage? Hell yes!” Vera said on Tuesday’s press conference at the City of

Tornadoes overcome ‘Coco’ girls

Dreams in Parañaque City. “I’ve prepared very hard for this bout. I’ve trained every day, in between traffic, shoots and everything in the middle,” he added. Vera, who owns a record of 15 wins against seven losses, assures a victory for his countrymen. “I am confident. I’m still hungry and I want it more now,” he said. He, however, remained cautious of his

F FILIPINO Brandon Vera (left) and Italian Mauro Cerilli stare at each other as ONE Championship Group Chairman of Greater China Hua Fung looks on. NONIE REYES

opponent who only has two losses in 14 matches and is six years his junior. “I am in no way underestimating him. He’s been knocking guys out,” he noted. Cerilli, who enters the cage with a fivematch win streak, gave praised the Filipino he

considers a “legend.” “I know Brandon is the local hero, and I have all the respect for him. I’ve worked hard to get to this point, so I am grateful for this opportunity,” he said.

Ramon Rafael Bonilla

FIL-AM GOLF UP IN BAGUIO

HE Fil-Am Invitational Golf Tournament comes off the wraps on November 28 with more than 1,200 golfers seeing action at the Baguio Country Club (BCC) and Camp John Hay (CJH) courses in Baguio City. The two-week tournament will feature this time a third division—super seniors—for players aged 70 and olfer. “That is why there is no Flight H in the regular divisions,” rules committee member Roanne Galicia of co-BCC said. In 2004 the Fil-Am introduced the seniors division with Tommy Manotoc, winner of several Fil-championship titles, being one of the pioneer participants. BCC has also introduced a cart path in its par-61 course to help the seniors. “We are still finalizing the entries because many want to register and we cannot accommodate all of them,” said Andrew Pinero, a member of the executive committee and

tournament spokesman. “It just shows that we live by its hype that we are the oldest and biggest golf tournament in the world,” added Pinero, a former television anchor of a local cable TV. The tournament is again expected to see top amateur players competing on the two courses. Practice rounds and the captains’ meeting for the seniors and Flight F and G categories are set on November 28. The tournament proper kicks off on December 1. The regular championship and the other divisions kick off on December 7 with the practice rounds and the tournament proper on December 10. Luisita Golf and Country Club swept the Seniors Championship after beating Manila Southwoods by 30 points in the Fil division and CJH by 10 points in the Am division. Southwoods, meanwhile, swept the Fil and Am Championship in the regular competition.

OTON slowed down in the second set, but recovered just in time to pull off a 25-23, 26-28, 25-21, 25-19 victory over Cocolife in the Philippine Superliga All-Filipino Conference on Tuesday at the Filoil Flying V Centre in San Juan. Veteran Mina Aganon reasserted her dominance and towed the Tornadoes back to the winning track. Aganon registered 18 kills, 22 digs and eight excellent receptions as Foton solidified its grip of the solo second spot with a 5-1 win-loss card. Petron, however, remained on top of the standings with a 5-0 card. Foton Coach Aaron Velez said their previous loss to F2 Logistics fueled them to work harder to regain their bearing. “I think our loss to F2 Logistics made us better as a team,” said Velez, who took over from Rommel Abella in the off-season. “Despite the loss, the team still radiated positive energy and I did not look at it [loss] as a setback.” Abella added that it was a wake-up call that gave them a chance to identify their weaknesses, especially now that towering sisters Jaja Santiago and Dindin Manabat are seeing action in the prestigious V. Premier League in Japan. “I’m happy that my players responded although they were hesitant at first, it’s normal, but I’m really glad that they exerted effort rather than nothing,” he said. Carla Sandoval had 18 points while playmaker Gyzelle Sy registered 24 excellent sets for Foton in the match that lasted two hours and 15 minutes. Filipino-American spiker Kalei Mau led the way with 21 points, 16 digs and six excellent receptions for the Asset Managers, who absorbed their fifth loss in six matches.

Summit Point Invitational unfurls

UMMIT Point Golf and Country Club (SPGCC) opens the Invitational golf tournament on Wednesday at its glamorous World 18 course in Lipa City. Close to 400 players are expected to participate in the four-day event, which stakes a Peugeot 308 (Auto-X Group) and a Toyota Wigo (Toyota Calamba) as hole-in-one prizes. A trip to Mission Hills China with airfare from Golf PH, Premium Shafts (Mitsubishi Chemical), Texas Eagle cart (Turf Co.), golf cart (Yamaha), P100,000 cash (New Canaan), Cobra F7 set (J-Ten

Sports) and P20,000 in merchandise (K&G) are also staked as prizes. At the grand raffle of the event sponsored by KIGA Sports, VMJ Evergreen, PPPoker, Auster Catering and J-Ten Sports, a 2018 Toyota Vios 1.3J M/T and Wigo 1.0E M/T will be given away as premier prizes to the lucky two-man team. “Everything is all set. We can’t wait to get the Invitational going,” said SPGCC General Manager Vic de Guzman, noting that Club President Robbie Leviste would be among the participats. Gold sponsors include K&G, Pepsi/Gatorade,

Resorts World Manila/Emperador, Golf PH/ Mission Hills, Batangas Maharlika Golfers and Sta. Lucia Land while Gerry’s Grill, Lemans and Summit Point Realty are silver sponsors. Vice Gov. Marc Leviste, Manny Rabe, Funai, Sonny Ricablanca, Anthony Arevalo, Teddy Valenton, Raul Montealto, Danny Odeste, Tony Ilagan, Vincent Duke, Nuat Thai, Gerry Aguado, Robertp Alvarez, Narcing Dimapilis, Alan Alegre, Nelson Ventura, Marvin Jovero, Joeben Caballes, Blades and Saturday Group, Pocari Sweat, Microtel and Santomas Suites are the other supporters.

orts

sMirror

Wednesday, November 21, 2018

FEU VS. DLSU IN KNOCKOUT DUEL

Cool Smashers seek No. 1 seed

REAMLINE targets the first of two victories it needs for a crack at the top seeding but faces a surging PetroGazz side in the penultimate play date of the double round eliminations of the Premier Volleyball League Season 2 Open Conference at the Batangas City Coliseum on Wednesday. A victory by the Cool Smashers in their 6 p.m. match coupled with another win against the Adamson University Lady Falcons on Saturday could net them the No. 1 ranking in the Final Four for a possible clash with the fourth-running Angels themselves. Pocari-Air Force and Adamson University-Akari, meanwhile, tangle in the 4 p.m. encounter in a duel of ousted teams with the Lady Warriors trying to salvage some measure of pride against the winless Lady Falcons. BanKo-Perlas is also eyeing to finish at 11-3 with a repeat over also-ran Tacloban on Saturday. Creamline dominated BanKo-Perlas in three sets in their first round clash on October 17 but the Spikers got back at the Cool Smashers last Saturday in Cagayan de Oro via a five-set win. Whatever, Creamline ace hitter Alyssa Valdez said their concern isn’t about clinching the No. 1 spot but building the proverbial momentum and boosting their morale heading to the best-of-three semis where the No. 1 team tangles with the fourth ranked squad and the Nos. 2 and 3 squaring off for the other finals seat. “What’s key at this stage is to build our confidence and gain momentum. All semifinalists are strong so we have to improve as a team heading to the semis,” said Valdez, the league’s leading scorer with 20.8-hit norm. PetroGazz actually upended Creamline in five in their initial face-off on September 29 with the Angels going to their rematch with the Cool Smashers in top form, having swept their last three games to nail the fourth and last semis berth in the season-ending conference of the league organized by Sports Vision and backed by Mikasa and Asics.

ALASKA Coach Alex Compton (left) and his Magnolia counterpart, Chito Victolero, are glad that the break will give their hurting players a chance to rest.

By Ramon Rafael Bonilla

LASKA and Magnolia will definitely relish the long break to pack themselves with tons of energy as they prepare for a tough best-of-seven title series of the season-ending Philippine Basketball Association Governors’ Cup. The league takes a break to pave the way for Team Pilipinas’s home games against Kazakhstan on November 30 and Iran on December 3 in the Fiba Asia World Cup Qualifiers. Game One of the championship showdown is set on December 5, more than two weeks

OBRA MAESTRA (9) takes the lead in the last 100 meters.

home the hefty P1,200,000 purse—plus the P70,000 breeder’s prize for Augusto de Jesus. Trailing for half of the race, Gepnits cooked up a storm from behind before barging into the two-horse party of Iron Hook and Big Boss James midway the 1,400-meter race to pull away by seven lengths and secure the jewel. “The slow start wasn’t much of a problem because I know what my horse can do,”

Tennis head confident on SEAG bid

OTWITHSTANDING the issues hounding the association, tennis head Atty. Antonio Cablitas is keen on forming a competitive national team for the next year’s 30th Southeast Asian Games. “We will have a competitive team for the SEA Games because I want our players to undergo intensive training overseas beginning January

to countries such as China and South Korea,” the Philippine Tennis Association president told the Philippine Sportswriters Association Forum on Tuesday at the Tapa King in Cubao, Quezon City. “We want our players in Asian countries where they will be up against strong opponents for 11 months so they will be ready to face our regional rivals like Thailand,” Cablitas stressed.

Secretary Sim seen waiving in heaven? AL MENDOZA | alsol47@yahoo.com

THAT’S ALL MY column here on November 7, centering mainly on Secretary Simplicio Taguiam, drew a quick reaction from my bosom buddy, Atty. Louie Sison. Here: “Good morning, Al. “Read your column today and you mentioned Sim Taguiam. You mentioned that since the revolution (Edsa People Power Revolt of 1986), you have not seen him and you pray all is well with him. “Sim was a close friend of mine and he helped me when I had an accident in Tarlac, where residents of San Manuel could have caused me serious harm of could have even killed me. “Anyway, Sim passed away many years ago and so I thought that if you did not know, you would welcome the information. “Keep writing, my friend.” I appreciate the information, attorney. May Secretary Sim’s soul rest in peace.

AR Eastern University (FEU) and De La Salle clash in a no-tomorrow match for the last Final Four spot of the University Athletic Association of the Philippines Season 81 men’s basketball tournament on Wednesday at the Smart Araneta Coliseum. Pushed against the brink of elimination, the Tamaraws edged an undermanned Adamson University Falcons side, 82-56, last Sunday to force the playoff with the Green Archers. University of the Philippines, De La Salle and FEU finished the eliminations with identical 8-6 won-lost records with the Fighting Maroons claiming the No. 3 seed in the semifinals

because of a superior quotient. The Fighting Maroons will square off with the No. 2 seed Soaring Falcons in the semifinals. The winner in the FEU-De La Salle game set at 3:30 p.m. will take on defending champion and No. 1 seed Ateneo in the Final Four. The Soaring Falcons played minus injured main men Jerrick Ahanmisi and Sean Manganti and succumbed to the Tamaraws’ determined stance. The Tamaraws opened the game with a 14-0 run and were in control the rest of the way. They led by as many as 34, 70-36, late in the third quarter. FEU Head Coach Olsen Racela said their task

is far from over as they need to finish off De La Salle that boasts of Mythical Five members Justine Baltazar and spitfire guard Aljun Melecio. “We’ll see what happens. We just have to prepare hard against them. They have many weapons and we must defend against them,” Racela said. Wendell Comboy had 11 points and four points for FEU, while Arvin Tolentino and Hubert Cani each added 10 points against the Falcons. The Green Archers, meanwhile, dropped their last assignment, 81-97, to the Fighting Maroons who are in the Final Four for the first time in two decades. Ramon Rafael Bonilla

CALM BEFORE STORM

GEPNITS, ‘OBRA’ TRIUMPH

EPNITS and Obra Maestra shared the spotlight by ruling their respective featured events in the Philippine Racing Commission (Philracom) Juvenile Stakes Races worth a whopping P2 million on Sunday at the San Lazaro Leisure Park in Carmona, Cavite. The Edgar Salvador-owned Gepnits outclassed his fellow young colts in the third leg of Philracom Juvenile Colts Stakes Race and took

To those who missed that column, I wrote about Secretary Taguiam’s unrivaled ability to come up with the unexpected that makes those both close and not close to him happy no end. While I was covering for the Bulletin then the Asia-Pacific Golf Championship in Adelaide, Australia, in 1985, Secretary Taguiam, in a bid to boost the morale of the boys, dangled a $100 reward to anyone who could score a birdie on the par-5 16th hole each day during the four-day event. All four players—Ramon Brobio, Carito Villaroman, Antolin Fernando and Robert Pactolerin—failed to make birdie on the first day of competitions. Taguiam, grim-faced, told Pactolerin: “I am disappointed with you, Pacto. As the team’s longest hitter, you can easily get to the green in two. Anytime, No. 16 is a birdie hole for you.” Pactolerin, scratching his head, could only mutter, rather meekly: “But I made eagle there today, Sir.”

after the last finalist, the Aces, booked the remaining ticket by eliminating the hardfighting Meralco Bolts in four games. The Hotshots bagged the first finals berth on Friday by beating sister-team and defending champion Barangay Ginebra Gin Kings. The pressure is strong for both sides as they come from long title droughts that stretch back to 2013 for Alaska and 2014 for the former San Mig Coffee franchise. It’s worth the wait, though, and the coaches are itching to get on each others’ skin. But they admitted that they need to recharge and put everyone in good working condition. “This is a big thing for us, especially for

jockey RG Fernandez said. Cinderella King—owned by Jacqueline Patricia Michelle Velasco and ridden by CP Henson—finished second for P450,000, followed by Barayong (Cipriano Sison Jr., KB Abobo) for P250,000 and Turns Gold (Joseph Dyhengco, JB Bacaycay) for P100,000. Later in the afternoon, Obra Maestra continued to reign as one of the young horses to watch out for after claiming another emphatic victory and adding the third leg of P2-million Philracom Juvenile Fillies Stakes crown to her collection. It was a highly contested race with an ensemble cast of elite fillies before Obra Maestra and jockey JB Guce made their move in the last 100 meters for the win. Obra Maestra gave her owner Sandy Javier P1,200,000 for her successful run, including awards for her stable and P70,000 breeder’s purse. Mood Swing (owner SC Stockfarm, jockey JA Guce) banked P450,000 for the runner-up finish, while Full of Grace (Alfredo Santos, CP Henson) clinched third place worth P250,000 and Mona’s Mark (Raymund Puyat, JB Hernandez) pocketed P100,000 for fourth spot. Accompanying Cablitas to the session supported by the Philippine Amusement and Gaming Corp. and San Miguel were Philta Secretary-General Romy Magat and training Director Martin Misa, who said that former age-group sensation Alberto Lim Jr. has begun training for the SEA Games. Misa said that also being eyed for the SEA Games buildup are Jeson Patromboon, Francis Casey Alcantara and Jurenz Mendoza for the men and Marian Jade Capadoccia and Clarice Patrimonio for the women. Secretary Taguiam gave Pacto $500. Ernie Gonzales (Daily Express), Roger Flores (Times Journal) and myself each received a hefty prize from Secretary Taguiam after a side tournament for the three of us—even as Roger (rest in peace, lakay) did not finish as he succumbed to the biting cold of a fading winter. In December of that year, Secretary Taguiam gave me a live goat as a Christmas gift. Some two months later, the Edsa Revolt came. That’s when we lost contact. Thank you again, Attorney Louie, for telling me Secretary Taguiam—your esteemed Sim— is now in heaven. See you around—at the Fil-Am Golf in Baguio, shortly? THAT’S IT With Magnolia and Alaska both well rested due to a long break to give way to the Fiba World Cup qualifiers on November 30 between Gilas and Kazakhstan and December 3 between Gilas and Iran, expect a slam bang affair between both finalists when the PBA Governors’ Cup title showdown is on beginning December 5. Aching bodies, bombarded muscles and creaky bones should all be mended by then, especially for Alaska’s Romeo Travis, who had to viciously battle through a hamstring injury to power Alaska to a series-clinching win in Game Four against Meralco. Equally gallant was Magnolia, which had to similarly go through a wringer to survive Ginebra’s famed never-say-die blitzkrieg.

our players who are recovering from injuries,” Magnolia Head Coach Chito Victolero said during Tuesday’s press conference in a Quezon City restaurant. Hotshots import Romeo Travis has yet to fully recuperate from a hamstring injury he incurred in the semifinals. The injury never slowed Travis down and exploded for a career-high 50 points in Game Four where Magnolia officially booted out Barangay Ginebra, 112-108. Paul Lee, meanwhile, is still recovering from a right-knee injury that put him on the sidelines in the national team practices. “Right now they are getting better. This is also a good break especially for the other

players who need to rest,” Victolero said. Chris Banchero (ankle), Jvee Casio (ankle) and Vic Manuel (hip) of the Aces will also try to heal injuries they sustained in the tough semifinals against the Bolts. “I think all of the players from both sides will benefit from this. This is also good because we are supporting the national team. We have our injured players and this will give them time to recover,” Alaska Coach Alex Compton said. “The fans want to see all the best players healthy and playing, and that’s what we all want. I just think it’s a blessing to the PBA and it shows that everybody wins when we support the national team,” Compton added.

TAMARAWS Head Coach Olsen Racela says their task is far from over.

Forgive us

EAR God, forgive us for sinning against You. It pains us to know that we have failed You, the One who has given us the gift of new life. When others wound us, may we extend to them the same forgiveness that You grant to us. Give us the gift of understanding and willingness to accept our faults and promise to sin no more. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life

RANDY ORTIZ: UNCHANGING AND EVER CHANGING D4

BusinessMirror

Wednesday, November 21, 2018

Now that the dust has settled: 11 takeaways from 11.11 ONE of the marketing materials used by online retailer Lazada to hype the “Global Shopping Festival” that was 11.11.

By colleen atienza

OVEMBER 11, or 11.11, was a big day for e-commerce around the world, but it was definitely more pronounced in the Philippines this 2018 than in the previous years. Weeks leading up to the big day, we’ve been bombarded with marketing and promotional activities online and offline: an LSS-inducing song here, a Facebook live contest there, and signs and ads everywhere. There were a lot of retail establishments who got on the program, and this could be taken as a good sign for growth: consumers are embracing e-commerce more and more given its accessibility and the enhancements on connectivity. Now, in the aftermath of 11.11, we share 11 key takeaways from an 11/11 survivor that might prove useful in ensuing online retail events (12.12, we hear you!): 1. CHOOSE YOUR BATTLEGROUND. While there are a lot of apps and sites that are offering great deals on 11/11, the reality is you can only use one when the clock strikes 12. I zeroed in on three apps, and after using them for a while and poring through the deals, I decided to go with Lazada for three reasons. 1) It’s more user-friendly. This is important to me because I easily get turned off by sites which are either not visually cohesive, or overly cluttered. It’s confusing. 2) The deals were better overall, including the variety of what’s offered in flash sales. 3) I’ve used it before and, so far, the experience has been good. In the end, I went with the one that was most familiar and has been in the market longer. Lazada has been doing it for the past several years, and I’ve actually done their Online Revolution a few times. 2. SURVEY THE GOODS AND CHECK OUT THE DEALS. After reading up on tips and tricks online, I found out that you can actually add to cart and just wait for the clock to hit midnight. The prices will automatically drop after you refresh. If you are patient and have time to spare, it will be wise to look everywhere, in all categories, to scour the best deals. Some of them might not be shown on the homepage or in the featured corner because it’s not as popular, but our needs are unique. This is the equivalent of digging up the pile in department stores. There is joy in finding that one item that you think is a steal. Just keep adding to your cart, there’s no rule against collecting and selecting. 3. ESTABLISH THE LIMITS. While we all have a budget in mind, you have to admit it could spiral out of control in the face of retail temptation. Things you never knew you wanted would manifest themselves and you won’t have the strength to let go. Opting for cash on delivery is one thing, and I also learned of the e-wallet, which you can actually top-up via online

transfer. You enroll the wallet, transfer funds via your bank’s online facility, and it is good as cash. You can only spend what’s in your wallet, and an amount that you set yourself. This way, you don’t “accidentally” max out your credit card and end up overspending more than your finances can handle. 4. TAKE TIME TO EDIT YOUR CART. Now that you’ve filled it up with all the things you want, it’s time to review what’s in it and ensure that you’re getting only the things you will find useful whether now or in the future. 5. READ REVIEWS. One of the things that I found most helpful is the reviews section, especially if the deal is seemingly too good to be true. I’m under the impression these reviews are not as regulated to only show the positive since I’ve seen some bad reviews that actually convinced me not to push through with a purchase, and good ones that helped me make up my mind. 6. KNOW WHERE TO LOOK. As opposed to how it was done before, most online sites now have “official stores” for brands that are selling directly, and not through resellers. I noted the LazMall badge on certain product pages. This apparently ensures us that the product is legitimately being sold by the brand

Globe, iflix launch landmark strategic partnership iWANT’S Elaine Uy-Casipit, Globe’s Ernect Cu, iflix’s Sherwin de la Cruz and Globe Studios’s Quark Henares

iFLIX, the leading entertainment service for emerging markets, in partnership with the Philippines’s leading mobile brand Globe Telecom, announced their multitier strategic partnership with a key focus on content and distribution. The alliance will center on three main business areas, with potential expansion in the future. First is the distribution of iflix through Globe’s network, which allows over 65 million Globe users to activate iflixVIP plans through carrier billing. Next is coproduction between iflix and Globe Studios, Globe’s content business, to codevelop new original content, set to premiere on iflix in 2019, with special preview access exclusively for Globe customers. Finally, content licensing, with iflix becoming the streaming platform for many of Globe Studios most popular shows including Elements: The Series, exclusively available and set to premiere on iflix this year. iflix Cofounder and CEO Mark Britt commented: “This historic agreement brings iflix and Globe together as industry leaders of content and technology committed to creating exceptional user experiences. The partnership with Globe further represents best practices in how iflix drives strategic value for our partners across their core telecom business, as well as new verticals such as content, for the benefit of their customers.” Globe President and CEO Ernest Cu said: “Globe further strengthens its commitment to provide platforms for local artists and filmmakers, and give viewers access to the very best in local entertainment. Together with our partners such as iflix, we will change what local prime time means: the Filipino consumer can now watch TV anytime they

want, anywhere they are.” Now available to over 1 billion consumers throughout Asia, the Middle East and Africa, iflix has established itself as the clear market leader in video streaming. Offering consumers a vast library of top Hollywood, regional and local TV shows and movies, including many first-run exclusives and award-winning programs, and now news, each subscription allows users to access the services on up to five devices, including phones, laptops, tablets and television sets, for viewing wherever, whenever. Globe mobile customers can enjoy movies and TV shows soon on iflix for as low as P29 via GoWATCH for Globe customers (2GB of data for videos for one day) and for as low as P19 via EasyWATCH for TM customers (1GB of data for videos for one day).

itself. This then quickens the decision-making process for stuff that’s already familiar like lippies, detergent powder, mobile phones, diapers and the like. 7. GEAR UP FOR BATTLE. Crazy as it may sound, but I actually cleared up my schedule to make sure I was somewhere with strong Wi-Fi at the stroke of midnight, afraid that I won’t get the deals I sought to avail if I wasn’t fast enough. I charged my phone and powerbank, as well. The first few seconds was stressful, I figured there were more people on the platform than expected, but I was able to check out after just a few tries. My preparation paid off! 8. YOU MIGHT NEED AN ARMY IF YOU’RE KEEN ON GETTING A REALLY GOOD BARGAIN. This was what I wasn’t prepared for: I spotted a major deal for an instant still camera that’s normally priced around P4,000 being sold for just P11.00. The catch was that it’s part of a game called “Slash It,” where you have to send a link to about 45 friends who will help you “slash” the price with every unique click. I realized how some people had prepared better for that midnight moment as it sold out in less than 10 minutes, while I was still out there asking people if they’re awake.

9. SHARE YOUR FINDS. There are teasers leading up to the big day, with question marks in place of actual numbers (e.g. P??6.75), which could pretty much give you an idea of how big the price drop will be. I forwarded screencaps of these to my friends and family who I thought would be interested. You would want them to do the same for you. 10. IT NEVER ENDS. 11.11 is apparently a whole-day affair as I found myself checking out with a new set of stuff in my cart three more times after I had done so at midnight. Good thing the price drop was huge the first time, and it left me with a few more to spare in my e-wallet (and then of course, the real last check out was already cash on delivery option given that I’ve maxed out my e-wallet!). 11. CELEBRATE YOUR WINS. Give yourself a pat on the back for surviving the biggest retail event ever without having to move from where you are. I ended up checking out a total of 80 items during this 11.11 sale, and still receiving deliveries as we speak. So far, I’m happy with the bargains, and looking forward to the next one. We hope that these takeaways would prove useful as we gear up for the next wave of online sales on 12/12. n

REALME PHILIPPINES TO OFFICIALLY ENTER PHL MARKET ON NOVEMBER 29 REALME, a fast-emerging smartphone brand in South East Asia, announces its official arrival in the Philippines on November 29. Established in May 2018, Realme aims to provide young people around the world with smartphone products that combine powerful performance and stylish design. The brand achieved strong milestones such as 4 million smartphone sales in just three months in its start in India. While just half-ayear old, the brand has expanded into Indonesia, Thailand, Malaysia, Vietnam and now, the Philippines With four smartphone products launched, Realme is quickly building a strong following community among young consumers. Its product is now not only one of the highest-rated mobile phone on Amazon India’s Best Sellers list (with a high score at 4.5 out of 5) and has also broken Flipkart’s mobile phone sales record set in India, becoming the fastest brand in the history of the country to break the million-sales mark. By successfully understanding the

needs of the youth, Realme launches its full visual identity branding to provide new visual experience and emotional with young consumers. The “R” logo in “Realme Yellow” designed by Eddie Opara, partner and chief designer of world-renowned design consultancy Pentagram, is an artistic and impactful representation of both the Realme brand identity and its vision of being “Proud to Be Young,” which the brand hopes will become a symbol of youth culture around the world. Additionally, the same designer is the leader who created innovative logos, such as the brand identity change of Mastercard, Tiffany & Co., Windows 8 and MIT media lab. Having invited industry-renowned experts to lead the brand identity upgrade, Realme expects to build brand awareness and strengthen emotional recognition among young people around the world, thereafter create an iconic visual representation of the youth. Realme Philippines is set to unveil full information of its product lineup on November 29. Consumers are

invited to join the Realme official socialmedia pages via Facebook, Instagram, Twitter and YouTube to be updated with its latest offerings. “We have worked hard to prepare the launching of Realme Philippines. As early as now, we will listen and understand the needs of Filipino consumers to provide appealing offers and campaigns,” said Realme Philippines Chief Operating Officer Jacky Chen. “We also aim to further push the growth of e-commerce in the Philippines through our product offerings and create the same effect we did in other Southeast Asian countries.” The Realme Philippines community, also named as the Realme Squad, is now on the look-out for avid tech enthusiasts with a passion toward technology to become Realme Squad Leaders. More than just providing information to cocommunity members, squad leaders will have the benefit of experiencing first the latest Realme devices and even propose their own community activities to be the pioneer of the brand.

Pet Corner BusinessMirror

Wednesday, November 21, 2018

www.businessmirror.com.ph

Today’s Horoscope

ITALIAN fisherman Alessandro with Ice, his aging golden retriever who accompanies him as he fishes in Lake Como whatever the weather conditions. Alessandro and Ice’s story is part of the six-episode documentary series Dogs on Netflix.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Travis Barker, 43; Josh Duhamel, 46; Patrick Warburton, 54; Harland Williams, 56. HAPPY BIRTHDAY: Quality should be what drives you this year. Take your time and do things right the first time. Spend a little extra to get exactly what you want, but buy fewer items. Balance will be what promotes success, happiness and good health. Know your limitations and strengths, and use your attributes to impress, as well as to get ahead. Your lucky numbers are 3, 10, 18, 24, 26, 37, 49.

ARIES (March 21-April 19): Hold on to your cash. Put your money, possessions and personal papers in a safe place. Refuse to let anyone bamboozle you into something you don’t want. Keep an open mind and a tight fist. Joint ventures are best avoided. HHH

TAURUS (April 20-May 20): Settle amicably any differences you have with a friend, relative or peer. Getting along will be half the battle when it comes to getting what you want. Use a little charm and flexibility to forgo a dispute. HHH

GEMINI (May 21-June 20): Look at what’s being offered, but don’t jump into something without checking out the downside. Risky ventures are best left alone. Someone is likely to mislead you if you are gullible. If you want to make a change, do so alone. HHH

It’s a dog’s life By Gerard S. Ramos Lifestyle & Entertainment Editor “I’m watching the dog documentary on netflix and sh#t has me in tears or idk i just might be highly emotional sorry” celsius

| @spcynoodlesoup

“Can you hear my sobs go watch Dogs on Netflix” kaitlyn

| @kineticphil

“I watch murder shows without even flinching, 45 seconds into ‘Dogs’ on Netflix and I’m emotional”

Vinny Guadagnino | @vinnyguadagnino

“watching the first episode of the dogs documentary on netflix and sobbing like f@%k. how have we been so blessed to have an animal like a dog in our lives? they’re just the best wee things on this planet” meltin john

| @caitrz _

“20 minutes into the first episode of Netflix’s ‘Dogs’ Status: already done 1 kleenex box”

Jeff M | @bananafactory87

ND so goes the endless stream of praise heaped via Twitter on the six-part documentary on Netflix, simply titled Dogs. I stumbled upon the documentary over the weekend, choosing it from among the plethora of options available on the world’s top videostreaming service, to provide me with nothing more than just white noise as I went about my weekly housecleaning. But a few minutes into the first episode, titled “The Kid with a Dog,” and the business of mopping down the walls and floors of my studio

was quickly forgotten. The first episode tells the story of Corrine, a young girl with epilepsy, and the bond she forms with Rory, a service dog trained to detect seizures. It is not only about the bond between them, however, but also about utterly selfless sacrifice of Corrine’s mom who has taken to sleeping on the floor beside her daughter’s bed, barely getting a wink’s sleep every night as she remains mindful of the possibility of her daughter seizing at any point in the night. By the end of the episode, Corrine’s mom is still sleeping on floor but there’s less anxiety on her face, and there’s even a quiet smile as she stares at the paws hanging from her daughter bed, with Rory snuggled against the sleeping Corrine. Episode Two is “Bravo, Zeus,” a heartbreaking story about a Syrian refugee in Germany, Ayham, who makes dangerous plans with a loyal friend to smuggle his cherished husky, Zeus, out of war-torn Damascus. Episode Three, beautifully shot and incredibly poignant, is “Ice on the Water,” which chronicles how the steadfast presence of aging golden retriever Ice brings comfort to Italian fisherman Alessandro as his livelihood faces an uncertain future on Lake Como. And on and on, each episode of Dogs goes in exploring and highlighting the bonds that form between humans and the furry four-legged friends they bring into their lives, shaping these lives in ways so profound that it’s impossible for these men and women—and us as well— to imagine how it would have been otherwise. The same could be said of Glen Zipper, one of the show’s executive producers. In a story written by Andy Meek for BGR.com, Zipper “had a life-changing

moment back in 2003, when he was working as a criminal prosecutor and somewhat adrift, not happy with his career. He met a dog—a skinny canine named Anthony, with patches of hair missing that got taken to a local shelter. Anthony never left his mind, from the minute Glen first laid eyes on him. “He ended up calling the shelter to check in on him, found out he was due to be euthanized, so the then-prosecutor rushed to the shelter, and everything changed. Inspired by the volunteers taking care of dogs, he decided to become one himself. He started volunteering, and his newfound love [for] man’s best friend eventually gave him an idea. In a world as divided as the one we live in today, why not tell a series of stories about one of the few things everyone can agree on—namely, how much we all love our fluffy, four-legged companions. “Thus was born the idea for Dogs....” In a statement about the Netflix series, Zipper says, “For the last 14 years—through successes and many more frequent failures—Anthony has always been there for me. With his wagging tail at the door after a long, hard day...And, most important, with his constant, unrelenting, unconditional love. “Dogs don’t just make us feel loved, dogs make us feel safe. They allow us to venture out into the world, take our lumps and come back to the best friend any of us could ever want or imagine...Our love for them speaks to our unanimity of needs. Love. Friendship. Companionship. Loyalty. We all want these qualities in our lives, and dogs are the only souls on the planet who guarantee us each and every one of them in spades.” Dogs is streaming on Netflix—and, yes, do keep a box of Kleenex nearby. n

Equilibrio launches new line of super-premium cat, dog food EQUILIBRIO, a super-premium brand of pet foods, launched its new line of products, formulated with high-quality raw materials and selected ingredients, providing better digestibility and flavor for the satisfaction and feeding of cats and dogs here in the Philippines. “Here in the Philippines, we consider our pets as members of our family. As such, we always want only the best for our cats and dogs, especially when it comes to the food

they eat,” said Johanna Emata, marketing manager of Neovia Philippines. “At Equilibrio, we believe that our pets deserve the right food for their own unique needs.” Each of Equilibrio’s recipes and snacks has high nutrient assimilation, which helps in the reduction in stool volume. They are also specially manufactured with nutraceuticals, such as yucca schidegera that reduces stool odor, as

well as prebiotics and probiotics that improve bowel transit time. With its updated and modern formula, Equilibrio’s products are compatible with the highest nutritional concepts. Among its offerings are for small breed, all breed and large breed puppies and adult dogs; as well as for kittens and adult cats. There’s even the veterinary lines suited for pets that have special needs. “We are very excited to finally launch

Equilibrio, which is known globally as a brand that provides excellent nutrition to pets,” said Daniel Olivo, marketing director of Neovia Philippines. “We also made sure that Equilibrio’s formulation is scientifically proven to help in improving the quality and longevity of their life.” Equilibrio products are now available for Filipino customers in reputable pet food stores and veterinary clinics.

CANCER (June 21-July 22): Listen carefully. If something is of interest to you, find out all you can before you proceed. A partnership can be developed, but get what you want and what you are willing to give in writing. HHHH

LEO (July 23-Aug. 22): Take a closer look at your responsibilities and what’s expected of you. Don’t take shortcuts or try to get others to do the work for you. Detail and precision will make a difference and help you avoid penalties, criticism or blame. HH

VIRGO (Aug. 23-Sept. 22): You’ll be right on the mark when it comes to implementing the changes necessary to get you where you want to go. Don’t let anyone confuse you or convince you to take on or spend more than necessary. Do what’s best for yourself. HHHHH

LIBRA (Sept. 23-Oct. 22): Be careful when it comes to joint money matters. Disagreements are likely to take place that could end up being costly or lead to future problems. Be reasonable and upfront about expenditures. HHH

SCORPIO (Oct. 23-Nov. 21): Treat others with respect. Listen attentively and offer suggestions, but don’t meddle in other people’s affairs. Stick to the truth and offer unbiased opinions, and you’ll receive praise, as well as the support and help you need to get things done. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Your expressive way of describing things will grab interest, but if you exaggerate, you will be questioned about your source of information. Stick to the truth, and avoid being called out. HHH

CAPRICORN (Dec. 22-Jan. 19): Improvements at home will help ease your stress. Comfort and convenience, along with activities that help build strength and encourage proper diet and exercise, will make a difference in your attitude and your personal relationships with others. HHHHH

AQUARIUS (Jan. 20-Feb. 18): You can get ahead financially by applying your skills in different ways. A change you make will help you qualify for something you’ve always wanted to pursue. Use your intelligence, but don’t make promises you cannot deliver. HH

PISCES (Feb. 19-March 20): Stick to the truth and don’t believe everything you hear. It’s important to keep information straight if you want to avoid a blowout with a friend, peer or relative. Work by yourself if you don’t want someone to take advantage of you. HHHH BIRTHDAY BABY: You are steady, confident and in control. You are unique and persuasive.

‘bat, man’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Advance slowly 5 Tip tops 10 Con man’s thing 14 Emperor who fiddled 15 Person holding a fief 16 Bubbly beverage 17 Striking out badly 20 Bite in a bite 21 Chicago transit 22 10/31 projectile 23 Rare find 24 Is a klepto 27 Quick look 29 Author Horatio 32 Slime relative 33 Tabbed drug 36 U-turn from guilty 38 Some pageantry 41 Bar mitzvah’ed one 42 Discoverer’s cry 43 “I’m thinking...” 44 Morocco’s capital 46 Mine and hers

0 Brags 5 52 Feeling of fury 55 “She had the maiden name of...” 56 Geneticists’ chain letters 57 Ones who feel powerless 60 Letting others lead 63 Lived day after day 64 Pooh’s creator 65 Be a creator 66 Was a fare 67 Hair unit 68 Put back, to an editor DOWN 1 Walking in unison 2 Music genre 3 Draw back in horror 4 Kong starter 5 Flared dress style 6 Film theater 7 Units of 1 million bytes, briefly 8 Heady vanity cases 9 Mem. of Congress 10 1 foot = 10 miles, e.g. 11 Forehead injection stuff

2 U-turn from none 1 13 Family matriarchs 18 Performer’s tour unit 19 Promise to wed 24 Medicinal plant 25 Like epic films 26 Excessive drinker 28 Agenda 30 Zodiac sign 31 African antelope 34 Practicing self-denial 35 Manet contemporary 37 Later, in Italian 38 Hopeful band’s tape 39 Made a statement 40 Gala newcomer, briefly 41 Soaking place 45 They clashed in a 1981 film 47 Defeat an incumbent 48 Director’s do-over 49 Sonnet’s finale 51 Sarcastically mocking 53 Dashes against 54 Moose relative

7 So-so or average 5 58 With the required skill 59 Accepted beliefs 60 Black paving stuff 61 “...and seven years ___...” 62 Clock std.

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, November 21, 2018

BLIND SPOT BRUCE C.

ON LEAVE

SO which actor is taking a leave until the end of the year supposedly to have some time for himself and his family? The truth is that the actor isn’t really close to his family, so we wonder what he’s going to be doing all that time. There’s a rumor that he’s going to get married soon. Others are saying that he has been depressed lately because of what’s happening with his career. The actor’s big project flopped. Before that, he lost so many endorsements. Let’s just say the fans have seen through his insincere smiles and words, and prefer someone who is honest and straightforward. Has the actor learned his lesson in humility from this experience? Let’s wait until he comes back.

GOOD MOM

THERE’S been so many things written about this actress, many of them bad. Much of the stuff is probably true. But if there is one aspect of her life where the actress is genuine, it’s in motherhood. The actress really loves being a hands-on mom and her child adores her. She isn’t a fake mom who parades her child for publicity. She really takes care of the kid who is so attached to her. No wonder her husband thinks the world of her.

HER SECRET

WHEN she won a reality star search, the young girl was touted as the network’s next big thing. Alas, that never happened. First, she had problems with her weight and hair. Now, the young star is being sidelined because of her sexuality. She is allegedly a lesbian and this is something her network refuses to deal with because the young star is dating someone quite openly. Perhaps this is the right time for networks and studios to be more open about different kinds of love. It’s not just a heterosexual world out there.

SPOILED PRINCESS

THE manipulative star probably hasn’t realized that she is disliked by her coworkers and many people in the network where she is under contract. Her parents, who spoil her, haven’t disabused her of the delusion that she’s the best and the most beautiful. She wants the network to choose between her and her perceived rival, a prized talent. She persists in her request that her perceived rival’s partner be teamed up with her. Initial perceptions about her disturbing behavior are apparently true. This star is not only manipulative but has no sense of reality.

White House to restore Acosta’s pass, with a warning By David Bauder & Catherine Lucey The Associated Press

EW YORK—The Trump administration on Monday abruptly dropped its effort to bar CNN reporter Jim Acosta from the White House, but warned he could have his credentials pulled again if he doesn’t follow guidelines governing journalists’ behavior. The White House said reporters would be permitted one question each if called upon at news conferences and allowed follow-ups only at the discretion of the president. In a letter to Acosta, White House Communications Director Bill Shine and Press Secretary Sarah Huckabee Sanders said they will be forced to reconsider the decision “if unprofessional behavior occurs.” CNN said that, as a result, it has dropped its lawsuit against the White House filed on Acosta’s behalf. “Thanks to everyone for their support,” Acosta tweeted. “As I said last Friday...let’s get back to work.” The White House initially revoked Acosta’s credentials after he and Trump tangled verbally during a November 7 press conference. The administration’s initial reasoning was that Acosta had manhandled a White House intern seeking to take his microphone, but that fell apart after Sanders

distributed a doctored video sped up to make Acosta look more aggressive than he actually was. Instead, the White House focused on behavior they deemed disrespectful to the president. Acosta and CNN have been frequent targets of a president who has derided coverage of his administration as “fake news” and called the media the enemy of the people. CNN filed suit to get Acosta’s credentials restored, arguing that the action violated the constitutional right to freedom of the press and that he had been denied due process. In Washington, D.C. District Court Judge Timothy Kelly cited the due process argument last Friday in granting Acosta a two-week injunction to get back to work. The White House initially fought back, saying it had made a preliminary decision to keep Acosta out when the two weeks were up. But after CNN requested a hearing, Shine and Sanders changed course. “The view from here is that White House interaction with the press is, and generally should be, subject to kind of a natural give and take,” Shine and Sanders wrote. “President Trump believes strongly in the First Amendment and interacts with the press in just such a way. It would be a great loss for all if, instead of this give-and-take, and instead of relying on the professionalism of White House journalists, we were compelled to devise a lengthy and detailed code

of conduct.” Still, they did outline rules compelling journalists at news conferences to physically surrender microphones if the president hasn’t granted them a follow-up question, and said a failure to abide by these standards could result in them losing their passes. In Acosta, the media had an imperfect First Amendment champion. Even some critics in the media world have said he occasionally seems more interested in making a point than in asking a question. In the November 7 news conference, he and Trump briefly argued over the president’s contention that a group of Latin American migrants headed to the southern US border represented an invasion. Yet dozens of news organizations filed briefs supporting CNN in its case against the White House. “We are not the enemy of the people,” Acosta tweeted on Monday. “I am not your enemy. You are not my enemy. It is wrong to call your fellow Americans the enemy. We are all on the same team. We are all Americans.” The administrations got in one last twist on Monday. CNN was informed of the decision to drop the case in a letter to Acosta—delivered after his competitor, Fox News Channel’s John Roberts, tweeted the “SCOOP” that the White House would not seek to revoke his pass. n

❶ GMA Kapuso

Foundation Founder and Ambassador Mel Tiangco together with GMA personalities and volunteers

❷ GMA

News pillar Jessica Soho encouraging viewers to feel the heart of Christmas

❶

❸ MARIAN

RIVERA-DANTES spreading love with the little people

❹ ALDEN

RICHARDS wishing all the Kapuso viewers a merry Christmas

❷

❸

❹

Netizens applaud GMA’s 2018 Christmas station ID GMA received an outpouring of praise from netizens after it successfully unveiled its 2018 Christmas station ID (SID), titled “Ipadama ang Puso ng Pasko,” on Sunday, November 18. The network’s Yuletide SID, which has breached the 1 million mark in views on YouTube, also gained over 1 million Facebook eyeballs in less than 24 hours. #PusoNgPasko was, likewise, a top trending hashtag on Twitter and the Christmas SID proceeded to be the No. 1 trending video on YouTube for almost 24 hours. Viewers from different online platforms expressed their appreciation to GMA for the inspiring message

that anyone, no matter the circumstance in life, has the ability to also touch lives in a positive way. On Facebook, Dennis P. Abrigo said, “[Ang] sarap sa pakiramdam kapag ’yung maliliit na tao at simpleng empleyado ay nabibigyan nila ng pansin at halaga tulad namin na mga gwardiya na mababa ang tingin sa amin ng ibang mga tao, kaya sobrang saya kapag naa-appreciate nila ’yung ginagawa namin, mas lalo kaming nai-inspire at mas lalo pang pagbutihin ang aming mga trabaho. Salute to Kapuso. Thank you.” Facebook user Juliano Betalia also said, “Ang Pasko ay hindi lang sa pamilya kundi sa lahat ng tao sa mundo.

Walang pinipili mahirap man o mayaman ang mahalaga maipadama mo ang diwa ng Pasko. Kaya I love GMA CSID sobrang ganda, lahat masaya lahat nagbibigayan.” On YouTube, Rol Dan said, “GMA at its finest! They always give a new flavor of their CSID each year, at ramdam mong di nakikipag kumpetensya, gusto lang ipadama ang #PusoNgPasko taon taon.” “When we say GMA, the first thing that comes to mind is their genuine sincerity to help others. This is their best CSID for me, the message was clearly executed! And the song is quite catchy! Congrats GMA, you did great,” jairinealexa also commented.

Twitter user @dncrkerbs mentioned, “Ang ganda ng CSID ng GMA. ’Yung beat ang saya nakakaindak. And syempre goosebumps. ‘Sabay-sabay sa buong mundo, ipadama ang puso ng Pasko’ Ang ganda ng linyang to. #PusoNgPasko nice one @gmanetwork!” More than the presence of GMA celebrities, the Christmas campaign featured the network’s heart for genuine public service via GMA Kapuso Foundation and Kapwa Ko Mahal Ko, as well as its collaboration with various organizations. The GMA Christmas Station ID “Ipadama ang Puso ng Pasko” can be viewed at www.gmanetwork.com.

Wednesday, November 21, 2018

Image BusinessMirror

www.businessmirror.com.ph

TIPS FOR REDUCING THE RISK OF TROUBLE DURING A COMPANY PARTY By joyce m. roSenBerG The Associated Press NEW YORK—The holiday party at a small business can be fraught with legal problems if staffers or guests drink too much. If they engage in sexual misconduct or are involved in accidents of any sort, a company owner can be held legally liable. Employment lawyers and human resources consultants say they’re getting more questions than in the past from small business owners who want to know what they can do to protect themselves. The safest route is to not serve alcohol. But that’s advice that’s often ignored; owners don’t want to come across as not trusting their employees, or to be treating them like they’re irresponsible teenagers. If owners are going to serve alcohol, there are steps they can take to lessen the likelihood of problems. Here are some of them: n Have a sit-down meal in a restaurant rather than a cocktail party; the structure of the event will make people less likely to misbehave. And the earlier you schedule the meal—a lunch as opposed to a dinner—the less they’re likely to drink. n If you’re having the party on your premises or in an event space, hire a professional bartender, someone who has a trained eye for signs that someone has had enough to drink and shouldn’t be consuming any more alcohol. n Use tickets or coupons to limit the number of drinks anyone can order. Some owners assign ticket numbers to individual staffers who then must show an ID to a bartender along with a ticket. That stops people from asking co-workers for tickets they’re not going to use. n Don’t have an open bar. Beer and wine have lower alcohol content and take longer to consume. n Don’t make drinking the centerpiece of the party. An activity like bowling, board games, painting and even newer trends like hatchetthrowing will take people’s minds off alcohol. n Be prepared to get taxis and car services for anyone who’s had too much to drink. n If staffers are going to hold their own afterparty, no one in management, including the boss, should be there. Employment law attorneys warn that if even one supervisory person is in attendance, the company could be held liable if there are accidents or injuries from staffers drinking too much.

Randy Ortiz: Unchanging and ever changing T HE past few decades have seen such wild changes in fashion: trends have come, gone and come back again, maisons have switched hands countless times, even the way we consume it has changed drastically. But there are the stalwarts, the creatives and visionaries who have been able to survive the winds of change because of consistent excellence and singular point of view. Randy Ortiz has survived such change, continuously staying on top through timeless designs, his penchant for detail and a sharp knack for creatively manipulating fabrics— something which has kept Ortiz at the forefront, yet firmly situated as a fashion institution in himself. He celebrates 30 years of a stellar career with Randy O 30 Homage, a fashion and art show which showcases what’s made him one of the greats. Ortiz recognizes by himself, he would not have been able to carve out a successful career— and with the kind of longevity he has enjoyed. “This show is to honor everyone who have been part of my journey as a fashion designer. I’m truly grateful for all the support they’ve given me through the years,” he said. He pays homage to those who have paved his way to international fashion stardom: peers, models, assistants, colleagues and Ortiz’s mother—his ultimate fashion inspiration and style icon. Randy O 30 Homage, unveils a new collection

filled with his greatest hits: a full range of silhouettes, textures and embellishments, using techniques his clientele—Manila’s crème de la crème—have come to know him for. Loyal followers can expect a wide collection ranging from sharp tailoring, soft draping, studies on volume, and fabric manipulation topped with handmade embroidery and beadwork. Ortiz also pays tribute to men through precise suiting elevated with subtle details and embroidery. The collection runs the gamut of colors, promising a visual and textural feast. Because of his love and constant support for the Philippine arts, 10 artists, in collaboration with The Artologist Gallery, have come together to pay tribute to Ortiz. The event will unveil unique works inspired by Ortiz’s unabashed use of color, his techniques and the textures of the fabrics he loves working with. The different styles of Judeo Herrera, Julmard Vicente, Hiro Kawabata, Adam Nacianceno, Monnar, Fernando Antimano, Eman Santos, Dost Pilar, Valen Valero and Carlo Saavedra converge to create an art show worthy of the Filipino designer’s caliber. Randy O 30 Homage, will be held on November 26 at the Peninsula Manila. The major sponsors are Omega and The Peninsula Manila, with minor sponsors Wine Depot, Dia Gold, MAC, Volvo, Madison Galleries, Vittoria Coffee, Santa Vittoria, Kit Silver, Dant x RO, S&H, Robert Blancaflor Group and Jing Monis Salon. n

Study introduces a paradigm shift in stroke prevention JUST THAT JT NISAY

jtnisay@gmail.com

ONE of the leading causes of the most disabling and even most fatal of strokes is Atrial Fibrillation (AF), which happens to be the most common type of heart arrhythmia or irregular heartbeat. In AF, the heart’s turbulent rhythm may cause blood to pool in its upper chambers, or the atria, and form into clots. Blood clots may then dislodge from the heart and shoot into the brain, blocking blood flow, causing a stroke. The worst part? All of it can happen in a snap. There’s a reason why stroke is called the “Silent Killer.” According to Dr. Gilbert Vilela, one of the country’s leading cardiologist, AF was previously thought of a complicated heart disease, nothing more. He said advancements in the medical field debunked this assumption. In the Philippines, as per data from the Philippine Neurological Association and the Department of Health, AF is the fifth risk factor for stroke among Filipinos. “AF increases the risk of stroke by five times,” Vilela said in a recent media briefing in Makati City. “Without preventive treatment, approximately 1 in 20 patients with AF will have a stroke.” Vilela added that at risk for AF are patients with enlarged heart, hypertension or diabetes, as well as those over 65 years old. With Asia’s rapidly aging

population, the Global Anticoagulant Registry in the FIELD-Atrial Fibrillation, or GARFIELD-AF, estimated that by 2050, the continent will have 72 million cases of AF, with 2.9 million among them suffering from an AF-associated stroke. The obvious solution to blood clotting is, of course, blood thining. For decades, Warfarin was the only drug used to deliver this effect, called anticoagulation, or the reversal of the process wherein blood changes from a liquid state to a solid or semi-solid state. But just because it was the lone anticoagulant treatment for AF didn’t mean it was perfect. Warfarin is a drug with numerous interactions. Patients who take it as a maintenance med have to watch their diet to an almost obsessive degree. For one, conventional knowledge teaches us to eat our greens when sick, but this doesn’t apply to patients with AF. Green, leafy vegetables are rich in Vitamin K, which plays a key role in helping the blood clot. The drug also interacts with other drugs, such as mefenamic acid, which can worsen the bleeding of a patient. Meanwhile, Vilela cited a former patient on Warfarin who had his molars extracted. The patient didn’t disclose his intake of the drug and went on with the surgery. Since he was on blood thinners, he bled profusely and was rushed to the ICU. Vilela said the patient survived, but his pocket barely did. This is just an extreme case of Warfarin’s financial impact, but there are other manifestations, too. The drug itself is affordable. However, its dosage is notoriously difficult to get right, which leads patients to frequent visits to the doctor for recalibration. Too small of a dose renders the drug ineffective. Too much can lead to internal bleeding. The fear of bleeding internally is also the reason that has kept most Filipinos and Asians in general at bay with the use of Warfarin, and, by extent,

treatment to AF. As compared to other races, Asians were thought of as heavy bleeders, based mostly on diet and genetics. To shed light on this assumption, a recent “real-world” study on the prevention of stroke in Asian AF patients was done on new anticoagulants simply called Novel Anti-Coagulants (NOACs). The study, titled XANAP, followed 2,273 Asian patients from 435 sites across Asian sites, including the Philippines, in routine clinical practice. Observed were elderly patients with a mean age of 70.5 years old, who had varying levels of stroke risk, with significant medical co-morbidities including heart failure, hypertension and diabetes mellitus, among others. The study yielded positive results of a low bleeding rate of 1.5 percent per year and low stroke rate of 1.7 percent per year in AF patients treated with non-vitamin K antagonist oral NOAC Rivaroxaban, a drug marketed under the brand name Xarelto, from German multinational pharmaceutical and life science company Bayer. Over 96 percent of patients treated with the drug did not experience any major bleeding, stroke/systemic embolism, or all-cause death. This means NOACs like Rivaroxaban match Vitamin K Antagonists (VKA) like Warfarin in stroke prevention, but with easier administration and significant reduction of risk from life-threatening bleeding. Other benefits include predictable anticoagulation, eliminating frequent trips to the doctor, thus saving patient’s money; reduced potential for food and drug interactions, as well as simplified and fixed dosage. It is taken once a day, just like a vitamin supplement. (Before initiating therapy with anticoagulant medicines, physicians should carefully assess the benefit and risk for the individual patient.) Moreover, the world has already taken notice

of NOAC’s benefits, according to GARFIELDAF. Between 2010 and 2015, patients receiving anticoagulant treatment for stroke prevention have increased from 57 percent to 71 percent. Conversely, the same period recorded a fall in use of VKA and antiplatelet (combined or not) from 83.4 percent to 50.6 percent. However, the study revealed that in Asia, almost 20 percent of AF patients receive no therapy. Meanwhile, more than 60 percent still receive either VKA (with or without antiplatelet therapy) or antiplatelet therapy only. The figures show that the benefit of NOACs over VKA is still not fully understood by the general public, but the findings of XANAP look to change that. According to Professor Young-hoon Kim of Korea University Medical Center, XANAP principal investigator, while NOACs offer a new standard of care in preventing AF-related strokes, major bleeding is a key consideration of doctors when prescribing NOACs for AF patients. But with the XANAP’s findings, they can operate with more clarity. “This data confirms the low bleeding risk of Rivaroxaban in Asian patients, thus reaffirming its positive benefit/risk profile, and demonstrate its value in preventing the negative impact of stroke on patients and society,” Kim said in a statement. Echoing the sentiment is another XANAP principal investigator, Professor Chia-Ti Tsai of National Taiwan University Hospital. He said that while it is important to consider a patient’s individual risk factors to prescribe the right NOAC for AF stroke prevention, Rivaroxaban’s robust experience and evidence in patients across different risk profiles, including those with high stroke risk, will best support doctors and patients in their treatment decision in AF management.

BusinessMirror E1 | Wednesday, November 21, 2018 • Editor : Tet Andolong

Freia, Pico de Loro Cove’s latest residential offering, features prime view beach condominium units with encompassing vistas of the West Philippine Sea and Mount Pico.

Costa de Hamilo bullish on Freia By Rizal Raoul S. Reyes

@brownindio

OSTA de Hamilo Inc. (CDHI) wants buyers of Freia to maximize the comforts and benefits it offers whether for weekend gatherings or a getaway address.

“Freia was created with the enduser in mind. Adopting the notion of ‘360 degrees of comfort and convenience’, we want everything to be within reach—from appreciating and partaking in nature’s beauty, to creating new memories and experiences with loved ones, to having everyday conveniences and facilities close by – Freia is designed so that you can leave your worries behind,” Senior Assistant Vice President Alexis Ortiga told the media in a press briefing held on November 16 at the Pico de Loro complex, Hamilo Coast in Batangas. CDHI said Freia offers a premium lifestyle choice amid an unmatched setting. It added competitors will have a tough time to match its three-step mid-rise structure, comprised of 214 superior two-bedroom units and nine bi-level three-bedroom penthouses, that open up to sweeping views of the West Philippine Sea and the Pico mountains. Moreover, Freia has a strategic location because its proximity to the 1.5-kilometer stretch of pristine white sand and shoreline of Pico Beach gives it an added benefit for the owners who want to enjoy nature. Positioned as a high-end project, Ortiga said Freia has been warmly received by the market as indicated in their preselling activities. He said

three penthouse units have already been sold, while four units are still waiting for approval. Freia has a total of nine penthouse units. Size of the unit ranges from 67 to 400 square meters (sq m). All penthouse units will have three bedrooms. “We have a healthy market out there willing to pay for a premium price. Freia was conceptualized for the end-user and not short-term leasing. We want the owners to know their neighbors,” Ortiga said. “Everything is geared for the enduser,” he added. Price of penthouse units starts at P40 million up. The two-bedroom units come in 67 to 140 sq m with prices ranging from P10 to P30 million. Freia has tapped a powerful lineup of talents of both international and locally renowned architects—Broadway Malyan, GF & Partners and Budji+Royal to Royal—to develop symmetry between utility and aesthetics in order to create beautiful spaces for its residents. Its contemporary tropical-inspired architecture blends with the captivating scenery. Each exquisitely designed living space boasts of large picture windows and expansive terraces maximizing the unit owner’s chosen view. In keeping with Hamilo Coast’s

Freia bedroom with balcony

Each unit has been designed with large picture windows to maximize nature’s views.

vision to build a master planned, project consultant and architect Arlie Cruz from GF and Partners said Freia’s development is anchored on premier sustainable beach resort living, Freia has integrated multiple green building strategies. Solar energy will power common areas of the condominium. Natural lighting and ventilation shall be a standard feature of the hallways and lobby. An efficient waste management system will ensure reduced carbon footprints on the part of the residential community. “We have a tropical contemporary architecture design in Freia. The buildings adapt to the climate. We have to put extra effort in the design and construction of Freia because it is near the sea,” he said. To date, Freia is the only condominium development in Pico de Loro Cove with its own set of resort-like amenities where residents can spend precious “metime” or create special moments with family right outside their doorstep. There are outdoor adult and kiddie pools, a lounge deck, function rooms, and lush pocket gardens for all to use and enjoy. If Freia residents desire more extensive recreational facilities, access is just a few steps away. Pico de Loro Beach and Country Club offer a variety of first-class sports facilities as well as outdoor pursuits, such as mountain trekking, kayaking, cove boat tours, or bird-watching, to satisfy the more adventurous. Follow ing the successful groundbreaking in August 2018, target turnover of units will begin in 2022.

Business

E2 Wednesday, November 21, 2018

Home

How to build your retail business in 3 days warehouse and factory spaces, clinics, barracks even dormitories and low-cost housing. If you want to implement your real estate or building requirements in a faster, more reliable and cost-efficient manner with less headache in supervising labor and managing timetables.

The basics

Amor Maclang

first dibs in real estate

HE prefab industry is one of those construction technologies taking the realestate industry by storm.

It’s become more relevant with the rise of retail and commercial businesses all over the country. Location is set, target market identified and budget allocated. But the actual construction is giving you pause. The rise of many food markets all over the country has given rise to the use of patented luxury container vans. “There’s a reason most of the establishments like food parks we see

nowadays make use of container vans,” said Ina Soriano-Bautista, president of Prefab.ph. “For one, it’s more cost-efficient—being almost 50 percent cheaper than traditional construction, and two, it can be delivered in as fast as three days!” And food parks aren’t the only business options that can make use of luxury container vans. They can be turned into office hubs, showrooms,

Traditional construction is basically the carpenter crew centric model that we all grew up with. Here, the house is constructed from the ground up, all on site. This is in contrast to prefab where the construction of modules takes place offsite,” shared Bautista. These modules are made using machines with material that are laser measured and cut according to exact specifications. From the factory environment, the modules are then delivered on site. “For businesses, these mean a lot of flexibility because your vans can be designed complete with a wall, a floor and a ceiling and have the option of combining multiple units at a lateral or upright configuration.” Prefab technology is an innovation that is disrupting the construction industry worldwide, and Prefab. ph is the pioneer in the Philippines. Prefab.ph has been providing prefab construction solutions to thousands of projects in the country. Prefab.ph engages the most professional business partners in long term and mutually beneficial relationships. We deliver consistent, attractive and increasing returns

for our clients through superior value propositions and excellent service.

Efficiency of construction

In business, time is money. And when you have a specific timeline in mind, timeliness is and efficiency of construction is essential. It usually takes at least a year for a traditional warehouse or restaurant to be made, making allowances for the processing of the building permit, weather, delivery of materials and availability of the crew. Herein lies the core advantage of luxury container vans. “Your units can be delivered in three days, and can be installed in as fast as three minutes. That’s something that can never be accomplished by stick builds.” She explained that tasks being done simultaneously through better technology and equipment add to the faster pace of prefab houses.

Durable and long lasting

Prefab construction’s material of choice is steel. Steel is extremely strong, enabling framing to span large spaces without the need for support columns or load-bearing walls. This allows total floorplan freedom in designing your business space. “The inherent strength of a steel building provides greater protection from damage caused by hurricaneforce winds and even earthquakes. When grounded correctly, a steelframed restaurant also provides ad-

ditional protection from lightning damage.” Additionally, since steel is not an organic material, it does not attract termites or mold. Prefab.ph delights its customers with high-quality prefab modules, customized designs and best inclass technical construction with the highest safety standards. With Prefab.ph structural integrity is not compromised. Virtually any design can be achieved. Prefab.ph structures withstand earthquakes, typhoons and other external natural forces.

Flexibility of design options

“One misconception about prefab is that they offer a very limited range of choices in terms of design—this isn’t the case any longer—the days when prefab meant trailer houses are over.” Bautista said that Prefab.ph offers the latest engineering innovation and technology in precrafted structures. And if you eventually decide to combine rooms, extend your floor, or add a new wing, doing so with a prefab will be easier compared to remodeling the usual stick build. A testament to the flexibility of prefab, Bautista said that aside from business spaces, Prefab.ph also provide options for designed homes, warehousing and factories, temporary facilities for housing and offices, barracks, canteens, clinics, dormitories, showrooms, poultry houses, toilet facilities and guard houses.

Sustainability

“As the business owner, you can dictate how environment-friendly the construction can be,” asserted Bautista. “All options can be sustainable depending on the builder. As a homeowner, check if the crew you are working with is using high-quality insulation, roofing, etc.” For traditional stick builds, it’s all about choosing the right materials. However, prefab homes have better cost efficiencies and less wastage, as they are manufactured under stricter norms. Some companies even go the extra mile by using recycled and renewable materials that help conserve energy. Further, the construction site and its surrounding areas likewise suffer far less disruption compared to a traditional building.

Making the choice

“The choice is ultimately up to the business owner—there are a lot of factors to consider, including cost, location, timing and design preference,” said Bautista. Locally though, a lot of homeowners and construction companies have been making the prefab choice. “Prefab technologies have been steading gaining popularity with speed of development, sustainability and cost-effectiveness being its biggest advantages.” “It’s all about simplified efficiency. We simplify the process, but we deliver you patented projects by leading architects and engineers. Our commitment is to bring spaces that are carefully crafted, not merely prefabricated.”

Filinvest City ensures a sustainable environment for city dwellers

Century Properties launches Siglo Suites

AKING care of your property investment or future retirement home can be taxing, especially if you are unable to manage it personally. As an owner who wants to lease out a condominium unit, you want to know how to make the property highly marketable and ensure that improvement works are completed. Especially for those based abroad, relying on an asset management service to do this for you is the best option. Century Properties addresses such customer pain points through Siglo Suites, the first and exclusive specialty management and leasing service created to help its unit owners take care of their investment. Siglo helps lease out condominium units to short, medium and long-term guests and tenants. It takes property management a notch higher by not only handling the day-to-day maintenance of the units but also in advising property owners on what needs to be done to keep the unit in excellent condition. “Siglo Suites is a unique organization as its services are comprehensive. We make sure that everything is in order so that the owners, our Siglo Partners, need not worry. Essentially, we do what owners would to for their unit,” said Jaime Navarro, Siglo Suites’s head of sales unit management and marketing. Once a unit owner registers his unit into Siglo, “we take care of the rest—from set-

ting up and furnishing the home above the mandatory furnishing required when leasing out a unit, management of bills and all mails for the owners to repairs and other required maintenance of the unit,” Navarro added. Siglo makes sure that the guest is well taken care of and has access to services 24/7. Established in 2016 by Century Properties, Siglo Suites aims to be the best partner of Century owners and give the best “Century home experience” that guests can have once they book their stay. Siglo offers short-term, medium-term and long-term serviced stays at The Gramercy Residences, The Milano Residences and Knightsbridge Residences in Century City, Makati; Azure Urban Resort

Residences in Parañaque City; Acqua Private Residences in Mandaluyong City; and Commonwealth by Century in Quezon City. “Our partners are both the unit owners, as well as the tenants or guests. As part of Century Properties, we give our guests the best experience that they can get anywhere they choose to book from among the Century projects where Siglo Suites operates,” Navarro added. Siglo is accredited by the Department of Tourism and is a member of the Philippine Tour Operations Association Inc. Like and follow its official Facebook page and Instagram handle: https://www.facebook. com/SigloSuites/ and https://www.instagram. com/siglosuites/.

N the early 1990s, Andrew Gotianun Sr. saw that there could be more to a grazing ground for livestock in Alabang. His company, Filinvest, won the bid over the 244-hectare Alabang stock farm and transformed it into his vision of a complete environment conducive to meeting the demands of global businesses and enriching the lives of those working and residing in the city. With that vision, the Filinvest City master plan—one that is sustainable, futureready and responsive to the needs of an ever-changing metropolis—was drawn up. Today, the 244-hectare Filinvest City embodies the ideals Andrew Gotianun Sr. set years ago. Filinvest City is very much of the present and even as it looks forward to tomorrow, introducing key enhancements to its master plan: green system, districting and improvements to “mega blocks” resulting in a wellbalanced live-work-play environment. Filinvest City is currently registered to the United States Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) certification—a first for the Philippines—under the Neighborhood Development plan, further proof of its commitment to build a truly progressive and sustainable CBD. The first phase of the Filinvest City master plan enhancement is defining Filinvest City’s public domain and green spaces which includes the introduction of a green system consisting of more open spaces, parks, greenways and pocket resting areas—active and passive facilities for a more meaningfully built environment. These include the Spectrum Linear Park, a recently completed three-section linear park spanning almost a kilometer that dissects the city from north to south. It is a beautifully landscaped green spine along Spectrum Midway with tree-lined paths, lighted seating areas and stimulating outdoor art installations. Also part of Phase 1 is the development of a creek side park, stretching further down from the Spectrum Linear Park to a creek, which features meandering paths with seating areas,

a bridgeway, bike lanes and a viewing deck. When completed, this will be connected to the al fresco retail strip—the River Park at Festival Alabang. Included in the pipeline of Phase 1 is the Central Park where a botanical garden, bike racks, a dome structure for events and an expansive lawn will be built. This is envisioned to be one of the major public event spaces within Filinvest City where people can either enjoy a picnic on the sprawling lawn or come together to celebrate an outdoor concert. Filinvest City has also earmarked its mega blocks—parcels of land that Filinvest is retaining that will add as the value enhancers in the city. Part of the master plan is the maximization of Festival Alabang as the City Center with its major phase by phase expansion and the construction of a chapel near the River Park, the construction of a Convention Center which will be connected to the transport hub, and the Filinvest Axis Towers which will define the Filinvest City’s skyline. Filinvest City’s design divides into districts, all bearing the four pillars of the city but each with its own distinct character: Northgate District which houses

Northgate Cyberzone, the IT-BPO (information technology-business-process outsourcing) hub; the Civic Plaza that houses a variety of public services and institutional facilities like fire station and health-care establishments; Westgate, the upscale retail and lifestyle center; the Woods, the more green campus-like and relaxed setting; the Palms District, the highest point and site of exclusive developments like Botanika Nature Residences; South Station, the transport hub; the City Center, where the Festival Alabang, the biggest regional mall, is located; and the Spectrum district as the economic core of Filinvest City and is home to prestigious businesses, as well as high net worth families and individuals. These areas are steadily being transformed into self-contained live-work-play districts. Filinvest City takes a more prudent approach to city enhancements, proceeding at a steady and calculated pace. These developments bolster Filinvest City’s position as a world-class CBD, ultimately ensuring that land values in the area continue to rise and creating a community responsive to the needs of locators and the people living there today and tomorrow.

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Quality lighting is important for eye care By Rizal Raoul S. Reyes @brownindio

Contributor

AJOR lighting brand Signify revealed that eye care is not a high priority for adults globally. This comes at a time of record levels of myopia, with the World Health Organization predicting that one in two people will be short sighted by 2050, and ever-increasing strain on eyes with people spending more time indoors in front of computer screens and smart devices. Currently, eye care is taking a backseat compared to fitness and weight loss, despite people’s reliance on their eyes for everyday living. “Quality lighting is not only related to longevity but is also incredibly important when it comes to ensuring our eyes feel comfortable,” explained Jagan Srinivasan, country leader of Philips Electronics and Lighting Inc. Philippines in an interview on the sidelines of its product launch held at the Bonifacio Global City. He said every house or landed property needs proper lighting. In the space people are living, he said they need to assure their eyes. He added people can have the differ-

ent options in the lightings, but they should deliver on the promise of comfort. In a recent gathering, “Eye’d Make the Switch,” Signify (formerly Philips Lighting) explained how quality LED is related to eye comfort. Research conducted by the company revealed that, while the average person spends more than six hours a day looking at a screen, 42 percent are currently using lighting that is softer on the eyes. And, only a third (32 percent) of people globally would consider how comfortable a light was on their eyes, when making their purchasing decision. When it comes to lighting and eye comfort, Srinivasan said people

Jagan Srinivasan, Philips Philippines country leader

aren’t serious in pursuing what they know on lights. While 74 percent of those surveyed agree that quality lighting impacts eye comfort, only 28 percent would choose a light bulb that is more comfortable for their eyes. Additionally, only 42 percent actively choose lighting that is softer on the eyes. “Research conducted that people don’t have high regard when it comes to taking care of health. Even for the health-conscious people, eyes are the last thing that they think of,” he said. He said Signify scientists have developed an industry-first Philips EyeComfort Standard, committing to delivering EyeComfort LEDs with no visible flicker. Besides flicker, the standard measures against key comfort criteria are glare, stroboscopic effect, photobiological safety, dimming effects, tuning and color rendering—factors that can impact

eye comfort. Philips EyeComfort LEDs are checked to ensure they pass its prescribed standards while providing energy efficiency and an average lifespan of over a decade. All Philips EyeComfort LED lamps and luminaires will be marked with the EyeComfort trademark starting 2018. The press event also showcased the diverse Philips EyeComfort LED lamps and luminaires range, which included: 1. Philips MyCare LED Bulb, the newest bulb in the range inspired by the pattern of sunflower seeds, the Interlaced Optics design reduces glare, the excessive brightness caused by an intense light beaming from the center of the bulb, and enhances the comfort of eyes. 2. Philips SceneSwitch—up to three color settings in one bulb: bright light, natural light and cozy warm glow.

Amaia Scapes Bulacan opens

Philips’s Signify lightings

3. Philips Deco Classic—visible filaments are designed to be seen and look good, off and on. 4. Philips Meson—for evenly distributed light with consistent brightness. 5. Philips Moire—light up your

room in soft, uniform light. Srinivasan said, “Signify’s latest LED technology is setting the bar for quality of life for homes. “All homes every deserve quality, and every human eye deserves quality comfort.”

Providing uncompromised comfort

MAIA Land Corp., launches its third sector in Amaia Scapes Bulacan—offering 306 new and spacious units that will cater to the different needs of growing Filipino families. Complementing its masterfully designed units are Amaia Scapes Bulacan’s recreational amenities, which are available for use, such as a multi-village pavilion, swimming pool and basketball court, and a children’s play area. The site also includes patio greens and a tree-lined spine road for jogging with friends. Amaia Scapes Bulacan, which is at Santa Maria-Pandi road in Barangay Manggahan and Santa Cruz in Santa Maria, offers to its aspiring homeowners easy access to key establishments, such as Puregold, Waltermart, Grace of Shekinah School, Sacred Heart Academy, Mateo’s Diagnostic and General Hospital, Rogaciano M. Mercado Memorial Hospital and Santa Maria Municipal Hall. The Bocaue exit of the North Luzon Expressway is also just a leisurely 15-minute drive away. Best of all, Amaia Land brings the dream of owning an affordable superior-quality home closer to hardworking Filipinos through easy

Shown in the photo are Gabby Katigbak, AMSI Inc. general manager (from left); Pikay de la Cruz, Alstra Marketing and Business Development head; and Willy Estrella, Alstra general manager for Climate Control Solutions.

LSTRA, the commercial division of Concepcion Industrial Corp. fortifies its partnership with the Ayala Group as it joins AMSI Inc. in its commitment to provide guests of the ABS-CBN Vertis Tent a comfortable experience by delivering world-class cooling solutions.

Amaia Scapes Bulacan offers 306 new and spacious units in its 7.8-hectare expansion that will cater to the different needs of growing Filipino families.

payment options: cash, deferred cash and bank financing. Amaia remains committed to ensuring comfortable lives for homeowners today and in many years to come. Amaia cares for life, the living

and the spaces around it. For inquiries about Amaia Scapes Bulacan and other Amaia Land developments, check out www.amaialand.com or follow www.facebook.com/ AmaiaLand.

Ever Malls shares tidings of joy

T’S that most wonderful time of the year once more! With the exciting holiday occasion fast approaching, Ever Malls invites shoppers and revelers alike to celebrate the season of giving the meaningful way: by spreading cheer, good tidings and surprises for all with its “Give Love this Christmas” campaign.

Paying it forward

At Santa Maria-Pandi Road, Amaia Scapes Bulacan provides easy access to key establishments like schools, hospitals and supermarkets, and is just a 15-minute drive away from the North Luzon Expressway.

EVER Malls’s 2018 Christmas campaign highlights the timely need for kindness, generosity and community spirit amid these challenging times. “By joining our Give Love this Christmas campaign, we help start a cycle that pays it forward, creating small deeds or acts of kindness that can bring smiles to beneficiaries under our chosen charitable organizations that need support,” said Chie Arao-Santos, Ever Malls corporate marketing manager. And because the Christmas season is not without spreading joy and togetherness among those we cherish the most, Ever Malls goes the extra mile in treating its loyal customers. Kicking off the long list of festivities was the grand launch of the Give Love this Christmas campaign along

with the much-awaited Christmas Tree Lighting held on November 17 at Ever Commonwealth. Ever Mall shoppers will have the opportunity to give back via the “Shop to Share Raffle Promo.” Beginning November 17 until January 6, 2019, customers who meet a minimum single receipt purchase from stores inside Ever Mall will get a raffle coupon for a chance to win one of the many prizes at stake. The shopper can also choose from a list of beneficiary organization/ community printed in the coupon who he/she wanted to help this holiday season. The grand raffle winner will receive P100,000 worth of prizes (P50,000 gift certificates and P50,000 worth of home appliances), while nine major-prize winners will take home

43” Smart TV, refrigerator and washing machine. There will be 15 minor-prize winners who will be awarded P5,000 worth of groceries, P5,000 worth of Ever gift certificates and mobile phones. The total of 25 winners will have a chance to bring home these amazing prizes plus the opportunity to share blessings to any of the three charities: Go Tong Foundation, Asilo de San Vicente de Paul and Hospicio de San Jose. The grand raffle draw will be held at Ever Commonwealth on January 9, 2019. As additional treat, Ever Malls will be giving away special gift baskets to lucky online winners. To join, simpy like and follow Ever Malls’s Facebook page (Ever Gotesco Malls-Official).

Entrepreneur

E4 Wednesday, November 21, 2018

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Pagudpud welcomes coffee farm development

AOAG City—The local government of Pagudpud has welcomed the development of coffee farming in the northernmost part of the province to generate more livelihood opportunities for farmers. Through a proposed public and private partnership, the Ilocos Norte government, through the Environment and Natural Resources Office (Enro) and a Philippine coffee development company, wants to revitalize coffee growing in Pagudpud’s lowland and hilly areas. Having a favorable climate and soil condition, the Enro has initiated the planting of coffee seedlings in previous years in support of the National Greening Program of the Department of Environment and Natural Resources. Mayor Ferdinand T. Sales said on Friday that several farmer-cooperatives were tapped to plant coffee seedlings in Saguigui village and in a year’s time, the first batch of coffee seedlings will start to bear fruits. “We hope this project will continue to boost the economic development of Pagudpud and to uplift the

way of life of our people,” Sales said. Early on, Senior Board Member Matthew Joseph Marcos Manotoc led the inspection of the coffee development site in Pagudpud town as he hopes the province can come up with its own brand of Ilocano coffee in the future. According to Manotoc, the development of a coffee plantation is just an initial phase of the project until they can process and have their own finished product, even extending to retail and establishment of coffee shops. He said the memorandum of agreement is still being finalized, which may take some time to implement. “This is not an overnight process —you plant and then wait. I think the soonest we can have our homegrown coffee is after two years more,” he said. PNA

GOVERNMENT workers, led by Senior Board Member Matthew Joseph Marcos Manotoc, inspect the first batch of coffee trees planted in Barangay Saguigui in Pagudpud, Ilocos Norte, on November 15. PHOTO COURTESY OF THE PROVINCIAL GOVERNMENT OF ILOCOS NORTE

How a traveling vinegar merchant built billion-dollar sushi empire By Min Jeong Lee & Ayaka Maki Bloomberg News

UNIHIKO TANAKA was peddling vinegar to sushi restaurants in western Japan when he spotted the opportunity that would change his life. It was the 1970s, and the sushi industry was set to boom. But Tanaka thought it was seriously flawed in how it operated. Artisan chefs presided over restaurants with poor quality control. They charged different prices to different people for the same meal, and bills weren’t affordable to the average person, except for special occasions. Tanaka decided to establish his own sushi restaurant. But he would do it differently. And so, with about $26,000 that he’d borrowed, he opened his first restaurant in 1977, setting out on a path that would eventually lead to the founding of Kura Corp. in 1995. The firm embraced a range of modern technologies, aiming to bring sushi to the masses. Kura is now Japan’s second-largest chain of kaiten sushi restaurants, where the food is delivered on revolving conveyor belts. It has a market value of $1.2 billion and hundreds of outlets nationwide. “I believed kaiten sushi would keep the sushi legacy going,” Tanaka said in an interview at the company’s headquarters in rural Osaka, about three-and-ahalf hours west of Tokyo by train. “And I was right.” Kura’s restaurants are about as far away as it’s possible to get from the notion of sushi-making as a lifelong artisan craft. The chain uses robots in the kitchen for some tasks instead of expensive and sometimes erratic sushi chefs handling the food with their bare hands, and an express delivery order lane above the revolving conveyor belt that speeds dishes to customers’ tables. Kura is also different from other firms in that it refuses to use additives or preservatives in its food. In a typical sushi restaurant, those would be in the vinegar for the sushi rice and the soy sauce and wasabi mustard used to flavor the sushi, but in Kura’s restaurants, they’re all custom-made to avoid this, according to Tanaka. He says he eats many meals at his company’s restaurants. And the sushi dishes are cheap, mostly at ¥108 (95 cents), a price that has barely changed for three decades, even as many of its rivals gradually raise prices. Tanaka says he keeps the prices low through tight cost control, which goes as far as automating the cleanup process. Finished plates are dropped by customers into a slot at their table, from which they’re transported

KURA employee prepares maki sushi. BLOOMBERG automatically to the dishwasher and counted to calculate a customer’s bill. This means the company doesn’t need to hire as many waiters or waitresses. Kura owns 31 patents for inventions it made in developing the restaurants’ unique system. The most-prized one is called Sendo-kun, or Mr. Fresh, which is a transparent dome-shaped cover placed on top of each plate of sushi. It flips open when you slightly lift the plate. That way, customers or chefs never need to touch the cap, reducing the risk of germ transmission. Not only that, it contains an embedded chip that lets Kura’s monitoring center keep track of how long a plate has been doing the rounds.

US listing

KURA currently has more than 420 outlets across Japan, with 19 restaurants in the US and 15 in Taiwan. The stock has risen more than fourfold since the start of 2014, hitting a record in May before tailing off with the broader market. Tanaka said he wanted to “dream big” when he was growing up in western Japan. With the country reeling from postwar damages, his parents sold goods in the markets to support the family. Tanaka had no interest in pursuing academic goals, so he joined a vinegar company after college. Vinegar is a key ingredient in the rice used as the bed for sushi. He remembers nervously borrowing about ¥3 million to start the business after his rounds of sushi restaurants convinced him that the model had to change. He recalls being served raw squid in one restaurant and breaking out in a severe rash, finding out later that the squid had been meant for fried dishes, not for serving raw. He couldn’t believe how careless the restaurant had been.

Supply control

TODAY, Kura employs 25 people at a monitoring center who work solely

on regulating the flow of sushi across its restaurants, using a points system where customers who’ve just arrived get the highest points while those who have been there an hour get zero. “If it’s 100 points in total, we’d offer a certain amount,” Tanaka said. “This is how we control it.” Kura commands a 20-percent share of Japan’s kaiten sushi market, according to CLSA Ltd. That puts it second after Sushiro Global Holdings Ltd., which has a share of 26 percent, the brokerage says. But while the domestic industry has grown rapidly, commentators say that it’s becoming increasingly mature, creating challenges for firms such as Kura. “You’re reaching a point where it’s not a saturated market but it may get that way in a couple of years,” said Robert Purcell, an analyst at CLSA in Japan, who rates Kura a buy. “So, will they acquire someone else? You need other growth opportunities.” Tanaka has said that Kura isn’t looking at domestic M&A. Instead, he’s focusing on overseas growth, betting that Kura’s additive-free food will take off globally amid an increasing consumer trend toward healthy food. The company hopes to add at least 10 restaurants each in the US and Taiwan every year, and to go public in the US as early as 2020. He anticipates bringing Kura to Europe one day, and to also list shares in Taiwan. Time will tell whether he succeeds in these plans, but whatever happens, Tanaka has come a long way since his days as a traveling vinegar salesman. At current prices, his family’s stake in Kura is worth hundreds of millions of dollars. But he isn’t content with his success to date. “I’m not there yet, far from it,” he said, when he’s asked if he feels like he’s realized his dream. “The real show starts now.”

Isabela Blancas: Nurturing a genuine social innovation By Rizal Raoul S. Reyes @brownindio Contributor

T a young age, Maria Isabela Blancas was exposed to the inequalities in Mindanao. The 15-year-old daughter of Fred and Myrna also saw the need to help the marginalized children in Mindanao by giving them access to education. In August 2017 she established her social enterprise called One Closet, a gown rental shop, to do the things she needs to do to help poor children. The concept of entrepreneurship is not alien to Blancas as parents Fred (former Integrated Microelectronic Inc. executive) and Myrna taught her how to do the ropes of business at an early age. She and brother Paolo would help sell organic lechon in Hecky’s Lechon Stores in Makati and Laguna during school breaks. Just like managing any business, running a social enterprise is not a walk in the park. First, Blancas did not have enough capital to start the business. Moreover, an entrepreneur has also to contend with the changing mindset of donors and customers —whether to help or buy was also a big challenge. Nevertheless, Blancas pushed on because she was determined to make a difference in these people’s lives. The plight of the poor girls especially served as a motivation for her to carry on and give the children a better future. “We are committed to assist them in their educational needs. One of the girls wants to be a fashion designer, which is perfect for One Closet. We hope we can send her to the best fashion school in the country someday. I hope she can do internship with one of our designer friends. At present, our beneficiaries are formerly abused girls taken care of by the Sisters Disciples of Jesus in the Eucharist in Agusan del Norte,” she told the BusinessMirror. “There are about 20 of them. We visit them in the convent every month. It was only on our fourth visit that they started trusting us with their painful past. Girls raped by a father, brother or uncle—how can we turn our back on them,” she said. Fred and Myrna tapped their respective network of friends and extended friends to connect One Closet to possible donors of preloved gowns. Isabela said she was lucky that many

ISABELA BLANCAS with a model wearing a gown donated to One Closet by Tessa Prieto-Valdes.

fashion designers and socialites are supporting the social enterprise. Rajo Laurel, Cherry Veric, Noel Crisostomo, Tessa Prieto-Valdes and Kaye Tinga are some of their generous gown donors. “I guess the reason why we get tremendous support is that our advocacy goes beyond merely helping the poor. We aim to influence people in changing their mindset. We encourage sharing,” she said. The business model involves asking for used gowns as donations and renting them out through their shop in Butuan City. Profits are shared with the beneficiaries to aid them in their education. One Closet is the lone gown rental shop in Butuan City designed as a social enterprise that offers designer dresses. It eyes the fashionistas and individuals attending events from more than 150,000 Butuan women. To reach their target market, One Closet has an FB page, as well as articles in fashion blogs and newspapers. It also organizes events like fashion shows, exhibits and outreach activities. For those who want to help, Blancas said donating their used gowns is a form of therapy because it allows them to clean up their closet and at the same time give fulfillment that they managed to let go of their extra material possessions.

For their customers, Blancas reminds them that choosing a dress should be done not just to impress but also to espouse a good cause. “It is about finding a dress that you are ‘confidently beautiful’ in and realizing that you are actually helping the less fortunate when you rent one from One Closet,” she said. Blancas said the long-term vision of One Closet is to be recognized as a globally known socially responsible brand of fashionable clothes. “Currently we are merely a gown rental shop, but we plan to expand over the next few years into an RTW [ready-to-wear] manufacturer to provide jobs for poor women and broaden our beneficiaries,” Blancas said. Initially, One Closet could subcontract for known local brands. She said it will still be viable to produce garments in Mindanao—given the cost-effective labor rates—and distribute to Luzon, the Visayas and Mindanao. “Later, we hope to have our own brand of simple yet elegant designer clothing. This will teach women [and maybe even men] to simplify their wardrobe and their way of life. And profits will still be shared with indigent children for their educational needs,” she said. One Closet was formally launched in December 2017. The shop opened in January 2018.