BusinessMirror November 22, 2019

P.U.V. PROGRAM STILL ON–D.O.T.R. T

BM-Motoring » E1

Peugeot launches the 2020 allure

w

n

HE Department of Transportation (DOTr) said on Thursday the Public Utility Vehicle (PUV) Modernization Program will push through as planned, contrary to reports published online on Wednesday.

In a statement, the transport agency said it will not discontinue the program, touted as the largest transformation initiative of the Duterte administration, but is simply giving operators of old jeepney units some consideration.

On Wednesday, some online news agencies reported that the modernization program for public-utility vehicles has been discontinued, following official statements during a Senate deliberation that day.

For the meantime, the department will allow them to operate on the condition that their old units pass the

Friday, November 22, 2019 Vol. 15 No. 43

PHL to curb rice imports via nontariff measures

By Jasper Emmanuel Y. Arcalas

M

@jearcalas

ANILA will maximize nontariff measures (NTM) to limit rice imports and disallow “dummy” cooperatives from participating in rice trade, instead of an outright suspension of shipments, the Department of Agriculture (DA) said on Thursday.

Agriculture Secretary William D. Dar said the government will only tighten the guidelines for importing rice. Dar said this was one of the directives given by President Duterte to him during their meeting last November 20 to thresh out the Chief Executive’s pronouncement of suspending

rice imports during harvest.

The meeting was also attended

by Executive Secretary Salvador Medialdea and Finance Secretary Carlos G. Dominguez III. Dar said the Bureau of Plant Industry, an attached agency of the DA, will continue to process sanitary and phytosanitary import

roadworthiness test under the technology-based Motor Vehicle Inspection System (MVIS) that assesses roadworthiness compliance devoid of any human appraisal.

“If their old units pass the MVIS, PUV operators will be granted provisional authority [PA] that will only take effect for a year, after which they need to subject their vehicles to another round of annual computerized MVIS check,” the statement issued on Thursday read.

The agency added that the granting of PA to operate will require operators transitioning to modern units to file a petition for consolidation by June 30.

They are also required to submit a letter stating their willingness to participate in the modernization program.

“Should they fail to submit the pe-

clearances (SPSIC), but the agency will evaluate applications using more stringent guidelines.

Aside from this, the DA chief said the President has also ordered the increase in the National Food Authority’s (NFA) buffer stock volume to 30 days, from 15 days, and to extend the unconditional cash

“That is what’s happening right now, [cooperatives] are being used. That’s why we want to make the rules stringent because they are just being used.”

—Dar

transfers for farmers to 2020.

Tougher rules

DAR said rice traders will now have to show proof that their shipments comply with the government’s more stringent measures covering heavy metal content, pesticide residue, filth contaminants and microbial presence.

He said the government will also deploy teams that will inspect shipments at the country of origin “to ensure rice quality and safety for Continued on A2

P25.00 nationwide | 5 sections 40 pages |

CHEAPER FOOD, UTILITY COSTS KEEP INFLATION LOW FOR POOR PINOYS

By Cai U. Ordinario

T

@caiordinario

HE poorest Filipinos saw inflation continue to slow in October on the back of cheaper food items and utility prices, according to the latest data from the Philippine Statistics Authority (PSA).

The PSA said inflation for the bottom 30 percent slowed to 0.8 percent in October 2019.

In September, it was at 0.9 percent and in October last year, 9.5 percent.

The heavily weighted food index contracted 0.6 percent in October 2019. In September 2019, inflation contracted 0.3 percent, while it increased to 9.8 percent in October 2018.

“This is the lowest inflation recorded for this income group since November 2015, in which the inflation rate was posted at

AmCham: Senate must tackle Citira bill soon

By Elijah Felice E. Rosales

F

@alyasjah

OREIGN investors are asking senators to deliberate the soonest on the Corporate Income Tax and Incentives Rationalization Act (Citira) bill to put an end to the uncertainties it is bringing to the country’s investment climate.

In an interview with reporters on Thursday, American Chamber of Commerce of the Philippines (AmCham) Executive Director Ebb Hinchliffe aired a public appeal to the Senate to fast-track its discussions on the Citira bill. Prolonging the deliberations on the measure would also prolong the uncertainties it is creating.

“Every day of delay is a day of lack of investments. The longer it goes on, then it benefits other [Southeast Asian] nations instead of the Philip-

PESO EXCHANGE RATES n

pines,” said Hinchliffe. “If this bill is passed as is, it will be a detriment to the current investment climate, as well as the future investors.”

As a member of the Joint Foreign Chambers of the Philippines (JFC), AmCham is opposed to passing the Citira bill as approved by the House of Representatives. Under House Bill 4157, firms operating in economic zones are required to give up their incentives in two years for those in business for over 10 years; three years for those between five years and 10 years; and five years for those below five years.

Further, the House version will strip away tax perks that locators find crucial in maintaining their operations in the Philippines, particularly the 5-percent tax on gross income earned (GIE) paid in lieu of all local and national taxes.

See “Citira bill,” A8

tition by the said date, the policy of ‘prior operator rule’ will cease to exist, and their former routes will be opened to cooperative or corporate applicants who have already modernized their units,” the statement read.

Once a compliant group has been given a franchise for a route, the previous operator’s PA will be automatically canceled, it added.

“This transformational program is geared to improve the country’s public transportation system by ensuring higher standards of road safety and roadworthiness, improving the systems and processes of the industry, reducing environmental pollution, restoring the dignity of Filipinos in commuting, and raising the quality of livelihood of our operators and drivers,” the statement read. Lorenz S. Marasigan

0.9 percent,” PSA said.

However, data showed that inflation for the poorest in the National Capital Region (NCR) was at 0.2 percent, higher than the 0.6-percent contraction in September 2019.

The increase between October and September increased mainly due to the higher food, beverages and tobacco (FBT) index which posted a year-onyear growth of 0.9 percent.

Undersecretary for Planning and Policy Rosemarie G. Edillon of the National Economic and Development Authority (Neda) said, however, that this remains a low inflation rate, even if there was an increase. “[Note these] two things: the inflation rate is actually very low [and] we think incomes have increased by more than this,” Edillon said.

See “Inflation,” A8

Atienza ready to go to SC on Package 3

By Jovee Marie N. dela Cruz @joveemarie

A

BUHAY Party-list Rep. Lito L. Atienza explains a point at the BM Coffee Club forum hosted by the ALC Media Group on Thursday, November 21. Among others, he said he is ready to question the validity of Package 3 of the Comprehensive Tax Reform Program (CTRP) for centralizing property valuation in the central government. Flanking him are D. Edgard A. Cabangon, chairman of the ALC Media Group, and Lourdes M. Fernandez, BusinessMirror editor in chief. RUDY ESPERAS

SENIOR lawmaker on Thursday disclosed his plan to question before the Supreme Court the measure providing for Package 3 of the Comprehensive Tax Reform Program (CTRP), which seeks to institute reforms in the country’s real-property valuation.

Addressing the BusinessMirror Coffee Club Forum hosted by the ALC Media Group, Buhay Party-list Rep. Lito Atienza said he is ready to question the proposed law before the SC once House Bill 4664, or Real Property Valuation Reform Bill, gets passed in Congress. According to Atienza, the bill contradicts the provision of the 1987 Consitution on local autonomy.

Continued on A5

US 50.9590 n JAPAN 0.4694 n UK 65.8543 n HK 6.5131 n CHINA 7.2422 n SINGAPORE 37.4231 n AUSTRALIA 34.6317 n EU 56.4320 n SAUDI ARABIA 13.5887

Source: BSP (21 November 2019 )

News

BusinessMirror

A2 Friday, November 22, 2019

www.businessmirror.com.ph

Citing weather risks, BSP to phase ESG regulations

T

By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas plans to issue regulations for the environmental and social governance (ESG) of banks in “phases,” BSP Governor Benjamin Diokno said, citing a recent study about the negative effects of weather disturbances on the banks’ balance sheets.

In a recent speaking engagement, Diokno said the BSP’s own research shows that natural disasters have a negative impact on the Philippine banking performance.

“Using existing regional data, we found that episodes of extreme weather conditions have a negative impact on financial intermediation [deposits, loans, NPL (nonperforming loans), provision for NPL, profitability]. However, the impact is short-lived given the sound financial position of banks.

The damage tapers off after a year or so,” Diokno said.

To add res s t h i s, t he B SP plans to employ an “enabling” regulatory strategy, as Diokno

described—one that provides ample flexibility, sensitive to riskappetite and business models, and proportionate to the banks’ size, structure and complexity of their operations.

“Following this approach, the BSP will be issuing ESG-related regulations in phases. The first phase will provide high-level principles and broad expectations on the integration of ESG and sustainability principles in the corporate and risk-governance frameworks, as well as in the business strategies and operations of banks,” Diokno said.

“The second phase will provide more granular expectations

“We found that episodes of extreme weather conditions have a negative impact on financial intermediation [deposits, loans, nonperforming loans, provision for NPL, profitability].”—Diokno

in managing climate change and other environment-related risks in relation to credit, market, liquidity, and operational risks,” he added.

“The third phase may cover potential regulatory incentives,” the governor further said.

Green bonds

JUST this year, the BSP announced its decision to invest in green bonds launched by the Bank for International Settlements (BIS).

“With its participation in the open-ended fund, the BSP takes a step further in recognizing the role of sustainable investing in reserve management. Investing in green bonds will also provide diversification benefits to the Bank’s total reserves,” the Central Bank had said in a statement.

The BSP added that is urging local banks to look more into sustainable finance as part of their business model.

“At present, Philippine banks

are getting more involved in green finance, issuing green or sustainability bonds in order to fund, and refinance, renewable energy and energy efficiency projects, green buildings and other green assets, Diokno said.

“Some banks adopted sustainability as part of their corporate social responsibility initiatives, while others have gone farther to integrate ESG principles and adopt environment and social risk management into their business operations,” he added.

In October this year, the Bankers Association of the Philippines (BAP) bared partnerships with various international associations to encourage local banks to incorporate ESG and sustainability principles into their corporate strategy, risk management and bank operations framework.

BAP President Cezar P. Consing said local banks are “hell-bent” on catching up, despite being behind their Asean peers in integrating ESG and sustainability.

“Initiatives to inclusive green/ sustainable finance are yet to pick up. The BSP’s support to sustainable finance is crucial, especially in promoting and signaling with stakeholders. Nevertheless, private-sector response is gaining some ground,” Diokno said.

House, Senate panels pitch higher vaping tax, not ban Continued from A8

The bill is now pending Senate approval.

Senators weigh ban SENATORS are firming up a consensus backing Malacañang’s move to ban the importation and use of vape or e-cigarettes.

Citing health issues, administration Sens. Christopher Go and Pia Cayetano issued separate statements declaring support for Duterte’s decision to ban e-cigarettes. While Go, however, was for a full ban, Cayetano was more inclined to pitch tighter regulation and taxing.

Go admitted he was initially inclined to recommend the need to regulate e-cigarettes or vape, but later opted to adopt a total ban on learning that President Duterte“already made a decision and will release an executive order soon.”

He noted that Duterte’s decision followed the Department of Health (DOH) report of a probable case of the country’s first reported E-Cigarette or

Vaping Product Use-Associated Lung Injury (Evali) as a teenager in Central Visayas region was admitted in an intensive care unit complaining of difficulty in breathing.

Meanwhile, Cayetano confirmed she had drafted a bill to regulate “vaping and e-cigarettes” and is ready to bring it to the floor for plenary deliberations.

“I also have a draft bill to regulate vaping and e-cigs, etc. and I’m ready to bring it up and defend it as soon as I’m done with the taxation portion,” said Cayetano.

Asked how a vape ban will affect revenue generation goals of the Department of Finance, Cayetano replied, “it is very small compared to the overall collection. That is because e-cigs is still not widespread. It’s a new product. I myself didn’t know there was such a product until like a year ago when I saw one.”

Duterte warns judges THE tone from the Palace on the vape ban is grim. The Chief Executive on Wednesday night warned the judiciary

not to get in the way of the implementation of the ban by issuing temporary restraining orders.

Even if judges issue TROs on vaping ban, the President said he will not obey it.

“Judges, I warn you, do not issue restraining orders to the Customs [on vaping ban] I will not obey your order because of the peculiar situation this country finds,” Duterte added. Moreover, the President expressed frustration over how these “very cheap” TROs that the judges issue will just put everything to a standstill.

“And in the meantime, the young resumes to [vape] because of the restraining order. So they are allowed to be brought outside establishments and stalls,” he said.

The President has since justified his verbal order of a vaping ban, pointing out that vapes have unknown chemicals that are dangerous to one’s health.

In the same speech, Duterte stood by the legality of his verbal order as he asked the police and the military to do their work “You are protected because I’m [giv-

ing] you a legal order preventing injury to the Filipino children. That is what I meant when I say do not destroy my country because I will kill you,” he said.

While an executive order has yet to be issued, the President said his directive is already in effect.

The DOH previously said they are in favor of an outright ban on the sale of e-cigarettes, or vapes, as soon as possible.

Health Undersecretary Eric Domingo has since warned the public not to use vape as he belied claims that it is a safer alternative to e-cigarettes.

Prior to the verbal order, the Department of Finance and DOH were backing a bill seeking to raise anew the excise taxes on alcohol products, heated tobacco and vapor products in a bid to reduce the funding gap for the implementation of the Universal Health Care (UHC).

In July, the President even signed Republic Act 11346 imposing a new tax on electronic cigarettes, including heated tobacco and vapor products. Jovee Marie N. Dela Cruz, Butch Fer-

nandez and Bernadette D. Nicolas

PHL to curb rice imports via nontariff measures Continued from A1

consumers and at the same time prevent the spread of crop pests and diseases [in the country].”

In a news briefing on Thursday, Dar told reporters, “We will see to it that [import] rules are tight during the main harvest season. We have all the facts so we will be strict in implementing these rules.”

The BusinessMirror earlier reported that the stringent food safety measures are aimed at limiting rice imports.

Rice traders and importers would have to secure an SPSIC first from the BPI so they can bring the staple from other countries into the Philippines. This requirement was mandated by the rice trade liberalization law.

“All rice importers will have to comply with the guidelines as required in securing the SPSIC,” said Dar.

Probe under way

THE DA chief also directed the BPI to investigate importers and traders who have not used their SPSICs despite securing the document.

Some traders were issued SPSIC as early as March, when the law took effect.

The BPI reported that only about two-thirds of some 3,000 SPSIC issued to importers have been used to date, which means there are some 1,000 unused SPSICs covering 1 million metric tons of rice.

Latest BPI data showed that as of October 31, 2,105 SPSICs have been used to import 1.693 MMT of rice from India, Italy, Myanmar, Pakistan, Spain, Thailand and Vietnam.

“Using the data we have, we will continue to improve these guidelines based on our experience,” said Dar. He said the government will look into the possibility of imposing a validity period on issued SPSICs, which do not have an expiration date.

Removing dummies

DAR also revealed that the stringent SPS measures will weed out farmers’ cooperatives and groups that are being used as dummies of unscrupulous businessmen.

The DA chief cited the Busin e ssMir ror’s stor ies about “dummy” cooperatives edging out legitimate traders in rice imports as among the reasons for their decision to go after these groups (See “Farmer groups ‘top rice importers’—are they?” in the BusinessMirror, November 21, 2019, and “Pre- and postrice trade liberalization law, big traders gaming farmer groups,” in the BusinessMirror, October 31, 2019).

He said the DA is in “constant” communication with concerned agencies, such as the Coopera-

Ping’s budget poser: Why borrow ₧897B to fill ₧677-B deficit?

Continued from A8

“We are projected to borrow P897 billion to fund a projected deficit of P677 billion. So right away the question arises, ‘why are we borrowing so much when the deficit we need

to cover is only that much?” Lacson asked.

He noted that in 2019, the deficit was at P558 billion. “And following that trend, I suppose [we also borrowed more than] P558 billion. In 2018, our deficit was also around that much. In 2017, it was P350 billion.”

Lacson noted that from the borrowing program, the debt-to-GDP ratio hit 3.2 percent; in 2017 it was 2.2 percent. So nag-jump tayo ng kauutang, malaki na utang ng bansa natin, pumalo na tayo ng [So our borrowing jumped, our debt is now big, we’ve hit] P7.9 trillion.”

Meanwhile, he said, “the response of our economic managers [is that] they need to build up government’s cash position. But if we’re building up cash every year, isn’t it logical to expect that our borrowings would not be that big since our cash is being built up?”

He wondered aloud why the economic managers are projecting borrowings of “P100 billion more than what we project to spend?”

Unused appropriations

LACSON noted that recent Senate deliberations have shown “that there are so many un-

used appropriations. And the top 3 agencies with huge unused appropriations, the usual.

Department of Public Works and Highways, Department of Education, Department of Transportation.”

The senator said he was also dismayed after looking at budget figures on disbursements over obligation.

“It’s dismaying to see 36 percent to 39 percent [disbursement rates], meaning the money they’re releasing to pay out is much smaller compared to their obligation.”

Most senators reached a consensus, he said, that Congress, in exercising its power over the public purse, must act and cut some agencies’ budgets and transfer these to other agencies with more urgent priorities.

For instance, Lacson noted that under the Duterte administration, there were three “landmark laws,” the National ID, Universal Health Care (UHC), and Universal Access to Quality Tertiary Education.

“All of these were passed under the Duterte administration and yet we can say this is something they can boast of as their legacy to the nation—because all Filipinos,

all barangays must be covered. This is the high cost of Tier 2 of UHC for which the requirement is P257 billion.

“In terms of medium cost, it’s P141 billion, meaning, select areas will be covered, where health care will be free. Perhaps the poorest of the poor can be exempt from all medical costs. But the Executive branch, in the National Expenditure Program, only put a fiscal space for 2020 of P151 billion,” the senator said.

This means, he added, that “we will not graduate from the ongoing PAPs [programs, activities and projects] of the DOH. So what did we gain in passing the Universal Health Care law?”

There is no net effect in passing the law, he added, since the additional funds needed to fill in the gap is between P151 billiion and P241 billion.

Meanwhile, in terms of access to quality tertiary education, there is also a big gap in the Tertiary Education Subsidy. Lacson said he was told there are about 1.5 million “learners, college students, but they can only fund 432,000. So, again, the gap is very big.”

tives Development Author it y (CDA), Bureau of Customs and t he Ph i l i p p i ne C o mp e t it io n Commission (PCC).

Dar said the DA is now in the process of “appreciating” the data provided by the CDA regarding the financial capacities of cooperatives that are registered with the BPI. “ T hat is what’s happening r ight now, [cooperatives] are being used. That’s why we want to make the rules stringent because they are just being used,” he said.

Dar said the government will not hesitate to open the warehouses or even file charges against the importers, including cooperatives, if the results of the PCC’s current probe on rice industry players will find that they served as dummies.

While he encourages all farmers’ associations, cooperatives and groups to venture into agribusiness, including rice importation, Dar stressed they must follow the law.

Dar had issued a memorandum order that required traders to ship their consignments to the Philippines within a prescribed period of time.

The same order “strengthened” registration procedures for interested rice importers by requiring them to submit documents proving their financial and logistical capacity to import rice, such as annual income tax return with audited financial statement for the last three years.

Dar’s tack backed

THE Federation of Free Farmers (FFF) welcomed Dar’s pronouncements and has thrown its support behind the DA’s move to weed out farmers’ cooperatives and groups acting as dummies.

“We have expressed our concern in the past about the use of small farmers’ cooperatives and organizations as virtual dummies of large financiers and importers who are apparently submitting fictitious financial records and evidence of warehouses to secure import clearances from the BPI,” the FFF said.

However, FFF noted that the use of SPS will only bring temporary relief against the influx of rice imports, as importers would eventually find a way to comply with the food safety measures.

Also, FFF said the use of NTMs could open the DA to lawsuits from importers and even from the country’s rice trade partners at the World Trade Organization.

“We, therefore, maintain that the best way to control the surge in imports is through the imposition of general safeguard duties on imports. The legal and factual basis for doing this now is readily available,” it added.

Emory. . .

Continued from A8

better prepared to execute quality maintenance, and return ships and submarines back to the fleet in top material condition, ready to execute their mission.”

Aside from undertaking the FMAA, the crewmen will also initiate and undertake a series of community outreach activities. The Pacific Fleet said Emory’s visit to the country was part of the US Navy’s commitment to theater security cooperation and friendship with local partner navies.

The Emory is homeported in Guam, along with the other submarine tender USS Frank Cable and four Los Angelesclass attack submarines.

The US Navy said the submarine tenders provide maintenance, hotel services and logistical support to submarines and surface ships in the US 5th and 7th Fleets areas of responsibility.

The submarines and tenders are maintained as part of the US Navy’s forwarddeployed naval force and are readily capable of meeting global operational requirements.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Friday, November 22, 2019 A3

Palace reminds Leni: Trust should be earned E

By Rene Acosta @reneacostaBM & Bernadette D. Nicolas @BNicolasBM

LECTION does not equate to trustworthiness.

This was Malacañang’s message to Vice President Ma. Leonor “Leni” Robredo on Thursday, stressing her election to the second-highest post does not necessarily mean she is trustworthy. “Trust [should be] earned,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said.

He added that Robredo does not needed to be bothered by the President’s lack of trust in her and instead prodded her to do her job as cochairman of the Inter-Agency Committee on Illegal Drugs.

“Ms. Robredo must, however, understand that one’s election to the Vice Presidency does not auto-

matically clothe the occupant with trustworthiness. Trust is earned.

The missteps of the VP did not inspire confidence in the matter of keeping to oneself classified information,” Panelo said in a news statement, referring to Robredo’s recent talks with foreign institutions, such as the United Nations and a delegation from the United States.

Panelo issued the statement in response to the remarks of former President Benigno “Noynoy” Aquino III and Robredo asking why was the latter appointed if the President had no trust in her in the first place.

But the Palace stood firm that Robredo cannot be trusted with

state secrets and accused her of having the tendency to share these with others.

“Her job in leading the agencies involved in the anti-illegal drug campaign requires competence and creativity. Trust comes into play only as regards the nontransmission of state secrets that imperils the safety of the Filipino people and the sovereignty of the country,” he said.

At the same time, Panelo also took the opportunity to criticize Aquino for allegedly neglecting the drug problem during his time in contrast to President Duterte’s anti-illegal drugs tack.

“As for former President Aquino, he is better off focusing on his case pending before the Sandiganbayan, as well as taking care of his health, than touching on a matter related to the dreaded drug menace that he never gave the attention and importance it deserve during his six-year Presidency,” Panelo said.

This was Malacañang’s message to Vice President Ma. Leonor “Leni” Robredo on Thursday, stressing her election to the secondhighest post does not necessarily mean she is trustworthy. “Trust [should be] earned.”

—Panelo

“Lest we forget, the drug problem ballooned in magnitude in his time, obviously due to his neglect in countering this evil that is putting this country into the precipice of a generational destruction.”

ICAD support

MEMBER-AGENCIES of the InterAgency Committee on Anti-Illegal Drugs (ICAD), through Philippine National Police Officer in Charge Lt. Gen. Archie Gamboa, meanwhile, said they support Robredo

as cochairman of the body.

Gamboa’s statement on Thursday followed President Duterte’s earlier pronouncement that he does not trust Robredo in her role with the government’s campaign against illegal drugs.

“We support her…we support her,” Gamboa said, adding he sees the Vice President as an ally in the anti-illegal drugs drive.

The PNP officer in charge said that their presence in the meetings of the ICAD with the body’s cochairman was a manifestation of their support to Robredo.

Gamboa would not, however, respond to Robredo’s decision in asking President Duterte to define her role and mandate with the ICAD, which Robredo had sought.

Meanwhile, Robredo has denied Duterte’s statement that she had invited foreign prosecutors to come to the country and investigate the antiillegal drugs campaign or look into it.

She termed the claims as fake news, adding that Duterte should not believe in fake news, because they can easily and readily be checked.

During his news briefing on Tuesday night, the President dared Robredo to invite the “prosecutor” from the “human rights commission” and he will slap “him” on the face in front of the Vice President.

While Duterte did not identify the prosecutors, he was apparently referring to Phelim Kine, formerly of the US Human Rights Watch, who reacted by tweet to the appointment of Robredo in the illegal-drugs campaign.

Kine said he could come to the Philippines and help Robredo, but President Duterte and his supporters should be arrested for instigating mass murder.

Robredo said she had not invited Kine, or even met with him, adding she had only met with US antidrug officials.

Red tape breeds corruption, Duterte tells government workers

P

RESIDENT Duterte gave an ultimatum to all government agencies to either approve or disapprove transactions brought to their offices by the public by December 15 as he lamented that the slow processing of papers in the government remains to be a source of corruption.

In a speech delivered on Wednesday

night, the President expressed his frustration over the delay in the process, adding that he will look into the gravity of the situation.

“It seems that things are moving very slow. And that is why it is still a source of corruption. The longer you sit on the paper or nothing at all— either you are not working, you are

a... I don’t know what you’d do with government,” Duterte said during the 80th anniversary commemoration of the Department of National Defense at Camp Aguinaldo in Quezon City.

“I must have your decision of the papers before you. And I said last night, it has to be December 15. It’s been so many months now. Papers that are on

your table must be out with a decision.

If it’s for approval, good; if it is for denial, fine. But let it out,” he added.

The Chief Executive cited that some contracts even in the military have been languishing for the past two years.

He also warned government workers that it would be better for

them to ask for their replacement if they are not up to the challenge of their mandated duties.

“If you think that you are not up to the mandate of being hurried up, and then you go out and tell your commander to replace you,” he said. “Even the directors, I saw some contracts there.”

The President also said he doesn’t

care how workers will be able to comply with his directive as long as they would be able to get the job done.

“Now, if you have to drive your workers to death working, kill them doing work. I cannot—I only have two years left. I want to leave my presidency with a comfortable heart…,” he said.

Bernadette D. Nicolas

A4 Friday, November 22, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Duterte may be ‘ill advised’ on e-cigarette ban–vapers

Mental health, hypertension meds most expensive in PHL, Medbelle index shows G

By Cai U. Ordinario @caiordinario

M

EDICINES meant to improve mental health and address hypertension are the most expensive medications in the Philippines.

Based on the 2019 Medicine Price Index conducted by Londonbased digital health-care provider Medbelle, the Philippines ranked 17th out of 50 in terms of medicine costs with medications averaging 12.64 percent higher than the global median.

The country also had more expensive medicines compared to its Asean peers—Indonesia, Malaysia, and Thailand who ranked 47th, 48th and 50th in the index.

“We’ve seen firsthand how digitization can make high-quality medical care more accessible for everyone.

While conducting research into the cities with the best hospital systems, we became aware that one of the biggest disparities across the world when it comes to access to care is the price of medicine,” Medbelle said.

Data showed medicine meant to address high blood pressure such as the branded Zestril and the pharmaceutical compound Lisinopril is 355.05 percent higher than the global median for the same medication.

This is followed by branded medicine Xanax and the pharmaceutical compound Alprazolam, which was 313.61 percent higher than the global average.

Other expensive medications include those for depression, bulimia, obsessive-compulsive disorder (OCD), among others such as Prozac and the pharmaceutical compound Fluoxetine which was 293.97 percent higher than the median.

The cheapest medicine is for Hepatitis B, HIV/AIDS which is 86.41 percent lower than the global median. The brand name is Viread and the pharmaceutical compound is Tenofovir.

“The medications chosen for comparison span a variety of common conditions; from heart disease and asthma, to anxiety disorders and erectile dysfunction,” Medbelle said.

“The average prices of both the brand compound and their generic versions were included in order to have a complete profile of each medication. Lastly, we normalized the dosage size in order to make the price comparable,” it added.

The final index compares costs and deviations from the global median to reveal the differences in medication prices worldwide.

T he resu lt s r a nge f rom a 306.82 percent deviation in the

United States, to a contraction of 93.93 percent in Thailand, highlighting a disparity in what patients pay for the same medicine across the world.

Overall, the United States has the most expensive medication in the world, costing 306.82 percent more than the global median, followed by Germany at 125.64 percent and the United Arab Emirates, 122.03 percent.

Thailand has the cheapest, costing 93.93 percent lower than the median price, followed by Kenya at 93.76 percent and Malaysia at 90.80 percent.

The medication with the highest pr ice dev iation from the global median is the blood pressure drug Lisinopril (brand name Zestril), which costs 2682.56 percent more in the US than the global median price.

FPI to DOE: Fast-track next round of CSP bidding to raise power generation capacity

T

HE Federation of Philippine Industries (FPI) has recently called on the Department of Energy (DOE), as well as all other industry players and stakeholders, to fast-track the next round of biddings for the much-needed greenfield baseload capacity.

The group believes that the successful power supply agreements two months ago, signed to supply Meralco 1,200 megawatts and 500 MW of capacity effective December 26, 2019, should be followed as soon as possible by another round of competitive selection process (CSP) bidding immediately, so as to start the construction of new power plants. FPI also requested DOE and the Energy Regulatory Commission (ERC) to urgently approve the current PSAs, to prepare their implementation and effectivity.

FPI Chairman Jesus L. Arranza praised the signing of the additional contract capacity but questioned the long time line for the PSA approval process, saying “FPI welcomes the news of this much-needed additional power, to meet the growing demand of our country. We just wish the government and regulator would act swifter on the PSA approvals.

Also, hopefully, both the public and private sector can already speed up

their processes and start with the next round of CSP bidding, so as to fast-track the building of much needed power plants, to meet the growing power demand of the country.”

‘New plants crucial to system reliability’

FPI brought up the latest statistics on the Luzon Grid experiencing yellow alerts, even in the cooler months of October and November, bringing the total number of yellow alerts to almost 50 for the year 2019, already more than the total since the start of the current administration.

There were also 14 days of red alerts this year with rotational brownouts, more than the total in the last five years. The group believes it has never been more obvious that the Philippines’s growing demand for power requires additional capacity to the grid.

The group stressed the need for new power plants, putting emphasis that “the next round of biddings should be solely for new power plants, as these will best ensure reliable supply at lowest cost possible.

The new power plants, the group added, should not be made to compete with the older plants because right now the priority is securing an oversupply in power generation, to

address the constant yellow and red alerts plaguing the nation.

“New plants are crucial to system reliability. Given the 20-year term of PSAs, brownfield plants that have been in operation for several years are less likely to remain reliable and ensure delivery for the entire term, which will gravely affect consumers. Greenfield plants, on the other hand, are the country’s best option to help ensure long-term, reliable power supply to the grid, at best cost, which will directly benefit customers,” the group said.

Resume the bidding process

ARRANZA said “we welcome the entry of any and all generation companies interested in contributing to the grid, in order to create a more secure power supply situation for all industries and, ultimately, all consumers.

I believe there are many parties interested in entering the power generation industry, so there really is no reason for distribution utilities [DU] to not resume once again with the bidding process.”

The group did express support for a DOE circular requiring DU to procure power through CSP and spoke of their excitement for the next rounds of biddings, pointing

out how additional capacity to the grid will mean more reliable power supply at least possible cost, which will directly benefit all consumers.

Arranza added, “With the next rounds of CSP bidding, the most important thing is that the consumers will greatly benefit from the results.

Industries can only hope that the remaining power distributors will follow suit, and conduct more biddings already, as the CSP promises to deliver very positive benefits to the Filipino consumer. This is only the first step, but FPI’s vision for CSP is for more and more generation companies to join the process and participate in the bids.”

“FPI will gladly support the power industry as it remains committed to signing partnerships that can deliver competitive electricity for all industries and customers.

Our group supports and encourages the development of more greenfield power plants to address future demand and avert a power supply shortage. FPI is looking forward to continuing its collaboration with the energy industry, government and other stakeholders to serve the country’s energy needs and bring the much-needed additional supply to address the thinning power situation,” Arranza said.

ROUPS representing more than 200,000 vapers in t he Ph i l ippi nes a sked President Duterte to regulate and not ban the use of electronic cigarettes which, they insist, are scientifically found to be 95 percent less harmful than combustible cigarettes.

T he Philippine E-cigarette Industr y A ssociation (Pecia), the Coalition of Asia Pacific Tobacco Harm Reduction Advocates (C A PHR A), T he Vapers Alliance and the Nicotine Consumers Union of the Philippines (NCUP) said the President was “ill-advised” when he announced a ban on the use and importation of vapes (e-cigarettes).

“A ban on vaping will only worsen the smoking situation in the Philippines,” C APHR A said in a news statement issued on Friday.

“As an anti-smoker, it is as if the President is encouraging vapers to go back to smoking, which is ironic. The scientific evidence that e-cigarettes are 95 percent less har mf u l was ignored/disregarded,” Clarisse Virgino, a CAPHR A Philippine representative, said.

“The use of e-cigarettes has been helping millions of smokers quit all over the world, and imposing a ban would only worsen the smoking problem. Health authorities should not make hasty decisions amid the US outbreak of lung illnesses. Let’s wait for the final results of the investigation,” it said.

Pecia said regulation is the best way to address concerns on e-cigarettes. “Although not riskfree, e-cigarettes are still much better alternatives to cigarettes.

The planned executive order of the President should regulate the manufacture, sale and use of e-cigarettes.”

“We have always maintained that e-cigarettes are meant for adult smokers who want to switch to less harmful alternative products and should not be used by minors and non-smokers,” the statement said. Pecia has been pushing for regulation of e-cigarettes since 2013.

According to the World Health Organization, cigarette smoke contains more than 7,000 harmful and potentially harmful chemicals. In comparison, aerosol emissions pro-

duced by vaping products have been reported to contain significantly less HPHCs. A study conducted by researchers from University College London (UCL) in the UK, the country with the most advanced vaping regulations, showed that the use of e-cigarettes may help between 50,000 and 70,000 smokers in England quit every year, indicating that e-cigarette use had resulted in an accelerated drop in smoking rates.

“In the United Kingdom where e-cigarettes are regulated, there is zero incident of vaping-related lung injury. In the United States, there is zero regulation. That’s why you have a number of vapers getting sick,” the Vapers Alliance said.

Vapers Alliance further stated, “Reckless driving, and driving while under the inf luence of alcohol is deadly. Should we ban cars and alcohol? We cannot ban vaping simply because other people are not following the rules.”

The Department of Health earlier said about 1 million Filipinos use e-cigarettes.

The vapers’ groups said the problem actually stemmed from the government’s failure to regulate the e-cigarette industry and not from the alleged unknown chemicals contained in electronic nicotine delivery systems.

The US Center for Disease Control and Prevention (CDC) has noted that vitamin E acetate as the “chemical concern” found in the lung fluids of 29 people who fell seriously ill or died in the outbreak in the United States.

The CDC report, although not yet final, said vitamin E acetate “might be used as an additive, most notably as a thickening agent in THC-containing e-cigarettes. THC or tetrahydrocannabinol is a cr ystalline compound that is the main psychoactive ingredient of cannabis or marijuana.

“Nicotine is not the problem, it’s the smoke. Sadly, our President has been grossly misinformed on the dangers of nicotine. He’s been given bad advice. In fact, nicotine helps smokers quit. It’s even the main ingredient of nicotine replacement therapies. We thought the President wants smokers to quit,” NUCP said.

MGB ready to assist BARMM on geohazard map requirement Large-scale miners urged to adopt smaller ‘brethren’

By Jonathan L. Mayuga @jonlmayuga

T

HE Mines and Geosciences Bureau (MGB) will coordinate with officials of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to prov ide technica l suppor t in the production of geological hazard maps in the autonomous region.

MGB Director Wilfredo G. Moncano, interviewed by the BusinessMirror at the sidelines of the 66th Annual National Mine Safety and Environment Confer-

ence (ANMSEC) organized by Philippine Mine Safety and Environment Association (PMSEA) in Baguio City, said even though BARMM is autonomous and outside the mandate and jurisdiction of the Department of Environment and Natural Resources (DENR), the MGB, its line bureau, is willing to extend help the local officials to identify areas that are prone to disasters.

According to Moncano, the BARMM has its own environment agency but Manila and other DENR regional offices, through the MGB, can help generate geohazard maps for local government units (LGUs) in BARMM. BARMM is composed of five provinces, namely Basilan, except Isabela City; Lanao del Sur; Maguindanao, Sulu, Tawi-Tawi; and three cities, namely Cotabato City, Lamitan and war-torn Marawi City.

The turnover of the Autonomous Region in Muslim Mindanao to the BARMM was held last February 26, 2019. BARMM was subsequently inaugurated on March 29, 2019.

The Bangsamoro government, under the law, will have an asymmetri-

cal relationship with the national government as BARMM will have more autonomy than other regions in the country.

“While BARMM is autonomous, because they have their own environment and natural resource department and MGB, we will still help generate geohazard maps for them,” Moncano said.

He added the MGB has generated and distributed the latest geohazard maps to various LGUs from the provincial down to the city and municipal level. Even some barangay units, he said, have received geohazard maps identifying the various geohazards in their areas.

The map, with a scale of 1:10,000 is “bigger” or more detailed and can pinpoint areas that are prone to natural disasters. Geological hazards include landslide, flood and earthquake.

Southern Philippines, particularly Cotabato, was recently hit by a series of strong earthquakes that claimed the lives of 22 people, and cause destruction to public and private properties.

The recent earthquakes prompted Environment Secretary Roy A. Cimatu to remind anew local officials to make use of the maps in coming up with disaster risk reduction and management plans, and use them in crafting local economic development plans.

T

HE Mines and Geosciences Bureau (MGB) is calling on large-scale mines to find ways to help small-scale miners near their areas of operations in support of the government’s effort to regulate the industry.

MGB Director Wilfredo G. Moncano said one way of helping small-scale miners is by adopting and integrating them into the company’s operations.

He is referring to a program that depicts a “big brother, small brother” relationship, a concept developed and successfully implemented by Apex Mining Co. Inc. The program, he said, if replicated in other areas, will help address the problem brought about by small-scale mining.

Small-scale miners often encroach in mining tenements of large-scale mining companies, digging tunnels to extract ores to produce gold.

Such practice, without technical expertise, is dangerous as tunneling has led to deaths as miners are trapped underneath in case of tunnel cave-ins or collapse during operations.

At a news conference at the sidelines of the ongoing 66th Annual National Mine Safety and Environment Conference (ANMSEC) organized the Philippine Mine Safety and Environment Association (PM-

SEA) in Baguio City, Moncano said adopting such program will boost the government’s effort to legalize small-scale mining operations.

The MGB is currently fast-tracking the establishment of Minahang Bayan to regulate small-scale mining in areas where there are existing large-scale mining operations, the big brother, small brother relationship is highly recommended, he said.

The process of establishing a Minahang Bayan is very tedious.

But by adopting Apex Mining Co. Inc.’s successful program, he said, large-scale miners can be a big brother to their small-scale mining counterparts.

During the same news conference, Apex mining announced the successful integration of smallscale miners in its mining operations in its Maco Gold Mine in Compostela Valley.

PMSEA President Walter W. Brown, chairman emeritus of Apex Mining, said the pioneering effort help address the many challenges posed by the vastly unregulated small-scale mining in the company’s Maco mines in Compostella Valley.

He said Apex Mining is willing to help other companies replicate their program in areas where mining culture will allow, explaining that in some areas, the big brother, small brother concept can work, but it may not be workable in some.

“We tried to implement it in Benguet, but it did not work well because of the culture,” he said. Small-scale miners, he noted, may not be willing to be integrated in large-scale mining operations.

According to Louie Sarmiento, president and chief executive officer of Apex Mining, in Maco Gold Mine, small-scale miners are well integrated.

“What we did is tap small-scale miners. In some areas where heavy equipment is not possible, we deploy small-scale miners to do the job,” he said in a mix of English and Filipino.

There are around 800 smallscale miners who now work with Apex, he said.

According to Moncano, subcontracting or whatever arrangement is acceptable to large-scale mines and small-scale miners will function, as long as the terms are acceptable and mutually beneficial.

This way, he said, problems like the use of mercury and cyanide, which are banned toxic chemicals used in amalgamation by small-scale miners, can be avoided.

This will also address the challenge of dwindling gold output because many small-scale miners are selling their produce to the black market rather than to Bangko Sentral ng Pilipinas gold buying stations.

Jonathan L. Mayuga

News BusinessMirror

www.businessmirror.com.ph

Friday, November 22, 2019 A5

Labor execs: We stand firmly behind DOLE chief’s probity

By Samuel P. Medenilla @sam_medenilla

S

ENIOR labor officials on Thursday threw their support behind Labor Secretary Silvestre H. Bello III amid apparent efforts to discredit him.

In a one-page manifesto, at least 12 Department of Labor and Employment (DOLE) executives said the recent slew of allegations against Bello were “recycled” and remain baseless.

“On cursory review of the accusations, we are convinced that most of [these] were resurrected allegations first brought before public attention last year and reportedly dismissed by the Presidential Anti-Corruption Commission [PACC] sans an iota of merit,” the manifesto said.

“We stand firmly by the probity

of Secretary Bello in leading us, and in the conduct of the affairs of the department,” it added.

Bello is currently facing a case filed by radio commentator with the Ombudsman and the PACC for allegedly committing graft, dishonesty and even treason, for his alleged excessive travel abroad and meeting with Communist Party of the Philippiness Founder Jose Maria Sison supposedly without authorization from President Duterte.

Bello earlier belied the allegations, stating it is as a mere attempt to discredit him.

The signatories agreed with Bello stating the allegation were “sinister” since it does not only attack the labor secretary, but as well as the department as a whole.

“If only to protect the integrity of the institution we serve, we stand strongly against the evil

designs propelled by obsessions and wicked personal interests to destroy it,” the labor officials said.

As of this writing, the signatories includes Labor Undersecretaries Ana Dione and Renato Ebarle, as well as Officer in Charge Undersecretary Joji Aragon.

It was also signed by Labor Assistant Secretaries Mariano Alquiza, Benjo Benavidez, Alex Avila and Officer in Charge Assistant Secretary Philip Paredes.

Rounding up the 12 signatories are Labor Spokesman Rolly Francia; DOLE Financial and Management Service Director Warren M. Miclat, and Overseas Workers Welfare Administration Administrator Hans Cacdac.

Francia said the signatories are still increasing since the manifesto is still be circulated within the labor department.

Malaysian firms explore supply, investment deals in Davao, other parts of Mindanao

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CI T Y— Some 33 Malaysian companies and businesses are currently in discussions with their Mindanao counterparts for various business deals that would include supply contracts, partnerships and actual investments.

This would be the first time for Malaysian business groups to conduct business-matching and pitching activities with their Filipino counterparts, who came from here and across other cities in Mindanao, including a few businessmen from the National Capital Region, said Abu Bakar Yusof, head of delegation and senior director for Export Promotion and Market Access Division of Malaysia External Trade Development Corp. (Matrade).

The Malaysian companies were talking with Filipino businesses on the areas of food and beverage, personal and skin care, information and communications technology (ICT), building and construction materials, and logistics.

The business-matching and pitching activities were held on Tuesday and Wednesday at the Marco Polo Hotel here, the venue of Matrade’s

largest trade mission to Davao City. In Wednesday’s business meetings, some 100 Filipino businesses participated, said Siti Azlina, Matrade’s trade commissioner.

She said Filipino businesses also came from Cagayan de Oro and other cities in Mindanao, and a few groups and individuals from Manila.

“The business meetings were cordial and appear headed for easy closing of deals,” Yusof added.

M a l ay s i a n compa n ies a re seeking investment opportunities overseas, especially in the Asian countries, which has been acknowledged as the world’s best investment destination.

Yusof said the Malaysian businesses have shifted into high technology and ICT-based manufacturing operation, from laborintensive operations in the 1970’s and 1980’s linked to its agriculture and other export products from rubber, oil palm to timber.

“Our companies are into manufacturing, renewable energy, electrical and electronics, and petrochemicals,” he said. “We are also strong in services, in franchising, retail aerospace, and highly skilled maintenance and repair.”

Some companies which joined the trade mission were in the category of small and medium enter-

prises, Yusof added. However, he said, the Malaysian SMEs account 17 percent of all exports and contribute 40 percent to the gross domestic product.

There are 1 million SMEs in Malaysia.

“Now, we are seeking to complement the needs of the companies and corporations here with our technology, as well as to introduce our products and companies to the Filipino market,” Azlina added.

“We have the ICT technology to make your BPOs [business-process outsourcing] more efficient and to cut costs,” she said.

Malaysian businesses in Davao and elsewhere in Mindanao are into coconut and oil palm plantation operations.

A mission briefer said Malaysia “is strengthening its position to be among the top Philippines’s foreign investor and trading partner within Association of Southeast Asian Nations.”

Malaysia’s exports to the Philippines from January to June this year grew by 8 percent to $2.17 billion dollars compared with the same period last year. Malaysia’s top exports are electrical and electronic products, palm oil and palm oil-based products, and petroleum distillates.

Solon backs call for competitive bidding in multibillion-peso vaccination project

By Jovee Marie N. Dela Cruz @joveemarie

T

HE House Committee on Health on Thursday backed the calls for an open, competitive bidding for the multibillion-peso pneumococcal conjugate vaccine program of the government. PCV is a type of vaccine formulated to protect infants, young children, and adults against disease caused by the bacterium streptococcus pneumoniae.

Quezon Rep. Angelina Tan, panel chairman, said she is push-

ing for more suppliers, saying the bidding for PCV should not favor a single supplier.

“Allowing multiple bidders will allow the government to leverage on the vaccines’ cost-effectiveness.

Specifications in biddings should not favor a single brand. Bids should not lean toward certain companies,” said Tan, who is also a doctor of medicine.

The Department of Health (DOH) recently suspended the bidding for PCV, which was initially participated in by a lone bidder. The agency has also recently postponed the bidding

Self-sufficiency. . . continued from a8 domestic requirement],” Agriculture Secretary William D. Dar said in a news briefing on Thursday.

“Our annual rice requirement is estimated at 14.24 million [metric tons],” Dar added.

He disclosed that based on the data gathered by the DA from the Bureaus of Plant Industry and Customs (BOC), the country’s total rice imports this year could reach 3.72 MMT. The volume represents 26 percent of the country’s total rice requirement. Due to higher imports, the country is projected to have an ending stock of about 4.41

MMT, Dar added.

T he countr y has impor ted nearly 3 MMT of rice from January to October, 1.888 MMT of which arrived in the Philippines under the liberalized trade regime, according to BOC data.

The latest report from the PSA indicated that the country’s palay output from January to September declined by nearly 5 percent to 11.32 MMT from 11.909 MMT recorded in the same period of last year due to the substantial reduction in harvested area and insufficient water supply.

for PCV to do a further review of the technical specifications.

For his part, Health Undersecretary Rolando Enrique Domingo said the government’s budget for PCV acquisition is P4.9 billion.

“Specifications for biddings should be generic so that all brands and suppliers can participate,” he added. “This is why we need to study this very carefully.”

Earlier, Assistant Majority Leader Niña Taduran of ACT-CIS Partylist has called on the DOH to open a competitive bidding procedure.

In a previous report, the PSA said the rice SSR of the Philippines fell to 86.17 percent last year, from 93.44 percent recorded in 2017. “This means that 86.17 percent of the total supply of rice was sourced from the domestic production.”

The PSA said rice SSR declined last year as domestic output shrank while the supply of imports went up.

The PSA defines SSR as “the magnitude of production in relation to domestic utilization.” The SSR shows the extent to which a country’s supply of commodities is derived from its own domestic production.

Atienza ready to go to SC on Package 3. . . continued from a1 “It affects the power of local government and it eventually affects the taxpayers capacity to pay or not to pay or be able to pay their real-estate taxes; in so doing it will affect the development goals of the LGUs,” said Atienza, the only Manila mayor who held three consecutive terms.

During his tenure, he had pointed to his administration’s ability to substantially increase revenue without having to unduly jack-up taxes, especially real property taxes which account for bulk of LGU revenue.

“It [the passage of Package 3] will not help. We all know that the key to progress is local autonomy as already enshrined in the Constitution. The Constitution provides that the government shall ensure local autonomy,” he said.

Atienza also warned that the property valuation mechanism being handled by the national government could also be a “major source of corruption.”

“If we allow national government to handle this property valuation, it will again be a major source of corruption. Let the elected people in the LGUs handle it. LGUs are more powerful over the national government in terms of developing and funds generation especially in the issue of of real-estate tax, which is 100 percent local,” he added.

HB 4664 establishes a single valuation base for taxation, through the adoption of the schedule of market values (SMVs) of LGUs, and provides for the use of the updated values as benchmark for other purposes, such as lease, rental, acquisition, right of way, etc.

The bill aims to insulate valuation at the local level from undue politicization. However, LGUs shall continue to set, adjust, and regulate tax rates and assessment levels.

HB 4664 is now pending on third and final reading approval at the House.

“I will continue to fight that. I

will question its constitutionality.

I can always run to the SC and file a case. I am willing to make a move [to stop this proposal],” he said.

Under the bill, the reforms will broaden the tax base used for property and property-related taxes of the national and local governments, thereby increasing government revenues without increasing the existing tax rates or devising new tax impositions.

Package 3’s proponents have claimed that by improving the quality of valuation of local governments and making the revisions frequent, efficient, transparent, reliable and attuned to market developments, it impacts favorably on revenue generation and resource mobilization of local governments to fund their service delivery requirements.

The reforms are also expected to foster private investors’ confidence, and build the public’s trust in the valuations of government, they added.

The bill also provides leadership and policy direction to LGUs on real property valuation, and appraisal for taxation and other purposes, including the development and maintenance of valuation standards, the regulation of valuation and appraisal activities and other related matters, and the promotion of valuation and appraisal training and seminars.

The proposal seeks to reorganize the Bureau of Local Government Finance (BLGF).

The bill seeks an allocation worth P58 million for the establishment of a Real Property Valuation Service within the BLGF for 2020.

Salceda: LGUs have power

HOWEVER, House Committee on Ways and Means Chairman Joey Sarte Salceda said pursuant to the Local Government Code of 1991, the bill seeks to grant each LGU the

power to create its own sources of revenue, and to levy taxes, fees and charges.

He added this will enable the LGUs to become self-reliant and perform their role as development partners of the national government.

Salceda said real property valuation reform bill is pro-local government, saying “we expect P30.2 billion in estimated revenue for the first year of the implementation for local government units.”

Committee on Government Reorganization Chairman Mario Vittorio Marino, sponsor of the bill, said the bill aims to promote the development of a just, equitable and efficient real property valuation system.

“The reform will broaden the tax base for local and national property and property-related taxes, and expedite valuation-based government activities, such as right-of-way acquisition and administration of land transfer taxes. This will neither impose new taxes nor current tax rates since the local government units will continue to set, adjust, and regulate tax rates and assessment levels,” he said.

A6

Friday, November 22, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

US Congress has crossed the line

S

UPPORT the Hong Kong protestors? Agree with the Beijing government? It actually does not matter what your views are on this issue or any other, as long as you keep a clear mind and a view on the larger picture. When some people compare the students on the streets of Hong Kong to the members of the Katipunan, maybe it is time for a reality check.

This is the reality.

The United States Congress just acted with an attitude of arrogance and even neocolonialism that should bring a tinge of fear to every person who cherishes his or her nation’s sovereignty.

The Hong Kong Policy Act was passed and signed into law in 1992 as Hong Kong passed from being a British colony back to China.

This law allowed the US to continue to treat Hong Kong separately from Mainland China for matters concerning trade export and economics control after the handover.

The US would “fulfill its obligation to Hong Kong under international agreements regardless of whether the People’s Republic of China is a participant of the particular agreement until the obligations are modified or terminated.” At the time, of course, Beijing criticized the act, describing it as “foreign interference into the domestic affairs of the PRC.” That is all well and good and, absolutely proper given that the US has an obligation to protect its own interests. As part of that act was the provision that required Hong Kong to protect any exported technologies from “improper use.” Technology transfer, improper use, and improper compensation is part of the current trade dispute between the US and China.

However, things have changed. The US House of Representatives and the Senate has just passed the “Hong Kong Human Rights and Democracy Act of 2019.” This is not simply a resolution but will become law if signed by President Donald J. Trump.

The act “directs various departments to assess whether political developments in Hong Kong justify changing Hong Kong’s unique treatment under US law.”

Again, the US has the right to pass any law to protect its own interest. However, this law goes much farther. It requires “an annual review of whether the city is sufficiently autonomous from Beijing to justify its special trading status.” In other words, the US has said that it will decide whether a completely Chinese domestic issue conforms to US standards to determine future trade.

This is not about Hong Kong but exclusively about the Beijing government. The US is saying that Beijing must do what the US wants in regard to Hong Kong, or suffer direct consequences.

Specific provisions include “to support...the ‘ultimate aim’ of the selection of the chief executive and all members of the legislative council by universal suffrage,” “the establishment by 2020 of open and direct democratic elections,” and “to maintain the economic and cultural ties that provide significant benefits to both the United States and Hong Kong.” Except that Hong Kong has been a part of the sovereign nation of China for 2,000 years. It is only by the Beijing national government’s— not the US—choice that there is “two systems.”

The Bangsamoro Autonomous Region in Muslim Mindanao is in effect part of “One country, two systems.” What would be the reaction of the Philippine government and Filipinos if in the future the US Congress decided the BARMM was not to its liking?

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

The wheels of justice and judges-at-large Sonny M. Angara

BETTER DAYS

T

HERE is a saying, that justice delayed is justice denied. Some say its origins date back to William Penn, a writer who was an early advocate for democracy and religious freedom in the United States. He phrased it as “to delay Justice is Injustice.”

Here in our country, it is unfortunate that justice is being denied because we find now that we are lacking in judges who can hear the many cases that are still in the system.

In a study by the National Statistical Coordination Board (NSCB) from 2005 to 2010, the lower courts had an annual average caseload of 1,059,484 cases. This meant that the daily average of cases to go through was at 4,221 cases. At the same time, there were around 1,637 judges in the lower courts.

Given the annual overall caseload, that meant that they had to deal with 644 cases annually, or about 3 cases to resolve each day, given 251 working days a year.

And then we also have to consider that the number of incumbent judges compared to the total judicial positions meant that there

was an average annual vacancy rate at the time of 24.3 percent. In other words, a fourth of the courts had no presiding judge. Recent data from the Senate Legislative Budget Research and Monitoring Office shows that out of 37,230 total positions in the Supreme Court and lower courts, 12,076 positions are vacant. That’s almost a third of the total.

It was suggested in the NSCB paper that one way to address the obviously overloaded justice system was to go through alternative community courts, known as the barangay justice system.

However, this can only go so far, as these are effective mostly for conflict resolution and mediation on a community level and is not meant to handle serious crimes, such as homicide. There is also the suggestion that regular judges be appointed as

The hope of the poor comes from unity

Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Rev. Fr. Antonio Cecilio T. Pascual

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

assisting or acting judges in vacant courts, but this would be a challenge for the judge, as he or she would have to divide his or her attention and, work hours between his or her own sala and the vacant courts that have been assigned to him or her.

This is why I authored and cosponsored the Judges-at-Large Act during the 17th Congress, which was approved by President Duterte on August 30, 2019, as Republic Act 11459. Sen. Richard Gordon was the measure’s main sponsor, with Rep. Lord Allan Velasco as the proponent of its counterpart in the House.

With this law in place, so-called judges-at-large will become part of the justice system—100 among the Regional Trial Courts, and 50 at the Municipal Trial Courts. In the proposed 2020 national budget currently under deliberations in the Senate, funding for a number of these positions was included in the amendments the Committee on Finance made to the Judiciary’s appropriations.

These judges will have no permanent salas of their own, so that they can be assigned to any lower court in the country that will need an extra hand on deck, as it were, to lessen the caseload back to manageable levels. Judges-at-large will have the same qualifications, salaries, privileges, allowances, and other benefits as their counterpart

SERVANT LEADER

B

ROTHERS and sisters, our Church commemorated a few days ago the World Day of the Poor. The commemoration reflects from the Book of Psalms 9:18, “But God will never forget the needy; the hope of the afflicted will never perish.” Every Catholic is urged to give attention to the situation of the poor, as well as their hope.

According to the World Bank, 10 percent of the world’s population in 2015 live on as much as $1.90 (or about P100) per day. Although the number of people considered to be poor has gone down by 30 percent in 1990, this is not equally true in different regions. For example, the number of the poor in Europe has gone down by 3 percent, like in Central Asia and East Asia (where the Philippines is included), but the number of poor living in the countryside of Sub-Saharan Africa increased by almost 9 million people.

Their situation may not be far from the state of those considered to be the poorest in our country.

It has been over a decade since the

Philippine Statistics Authority or PSA recorded that farmers, fishermen, and children are the poorest sectors in the country. Their poverty incidence or the percentage of the poor coming from these sectors play between 30 percent and 34 percent, far from the poverty incidence of the country’s entire population, which is 21.6 percent. The picture is not encouraging if we add the different marginalized sectors like women, informal settlers and natives.

It is estimated that over half of the wealth in the world is in the hands of only 1 percent of the richest people. Based on a report by multinationalist bank Credit Suisse, it is expected that the current 36 million

The social teachings of our Church explains that “the moral dimension of the economy shows that economic efficiency and the promotion of human development in solidarity are not two separate or alternative aims but one indivisible goal.”

millionaires in the world will increase to 44 million by the year 2022.

In his observation on our country, a professor from the Columbia University said that Filipinos are poor due to the institutional consent of several groups to seize the wealth and resources supposedly for all members of society. He added that these institutions also bring about corruption and political tyranny.

The social teachings of our Church explains that “the moral dimension of the economy shows that economic efficiency and the promotion of human development in solidarity are not two separate or alternative aims but one indivisible goal.” It is important to achieve the continuous development of wealth in the world and its equal distribution. This can be made possible by practicing the principles of unity or solidarity in

judges who have their own salas.

They will also be given “displacement allowances” for housing, food, transportation and other necessary expenses that will be incurred as they travel to courts outside of their places of residence.

As the principal author of the law, I know how serious an issue the slow disposition of cases can be, especially for those with limited access to professional legal sevices. It’s a sad truth that with some cases, years upon years will pass before a case can be resolved, and that can be a horrible experience for both the accusers and the accused.

I believe that our new judges-atlarge can be part of a new set of solutions that will address concerns about our justice system. Hopefully, this will also encourage more discussions and actions on how to address and keep in check the total caseload of the judiciary.

To modify a famous phrase, the wheels of justice should grind exceedingly fine, but let us do our best to make sure that they do not turn so slowly.

Sen. Sonny Angara has been in public service for 15 years—nine years as representative of the Lone District of Aurora, and six as senator. He has authored and sponsored more than 200 laws. He recently won another term in the Senate.

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

order to break the structure of sins that cause and maintain the suffering of the world and the development of the economy where only a few get to benefit.

Because of this, the true hope of the poor lies on the strength of our unity to tear down our own selfishness and the institutions that help intensify this. Let us strongly ask: Why is half of the poor across the globe live only in one region? Why is it, that year after year, farmers, fishermen and children in the Philippines remain poor? How do institutions responsible for the distribution of wealth in the world run? In finding the answers to these questions, may we be spurred to act, and give solution and attention.

Brothers and sisters, it is good to donate to those in need and participate in outreach programs in poor areas. But the need itself is far greater. We all have a role to play to help alleviate the suffering of our poor brothers and sisters, and the success of such endeavor relies on strong cooperation.

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

Opinion BusinessMirror

www.businessmirror.com.ph

Friday, November 22, 2019

A7

Resiliency and sustainability Nostalgia for corruption in a gray November of the 1930s in the face of industry 4.0 Tito Genova Valiente

ANNOTATIONS

Marjorie Muyrong

EAGLE WATCH Part One

R

ECENT policy discourse in the Philippines is revolving around what seems to be buzzwords: industry 4.0 and climate resiliency. The common denominator between this unlikely pair is straightforward. Both topics require policy-makers to not discount the future. While one warns about climate-change impacts on vulnerable populations, the other warrants concerns on potential labor displacement if Filipino companies choose to automate as the world gears up for industry 4.0.

This unlikely pair of topics has been put together in the recent 57th Philippine Economic Society Annual Meeting, dubbed “Rethinking Development Strategies” and held on November 7, 2019. The keynote address given by Department of Trade and Industry Undersecretary Rafaelita M. Aldaba on the country’s New Industrial Strategy delivered the context of the conference. The high-growth scenario in the Philippines, if the country hopes to maintain it in the face of new technologies, requires coordination across government agencies to ensure that human capital development and technological advancement support the sustenance of growth. The first panel session focused their discussion on how the Philippines can prepare for potential labor displacement at the advent of industry 4.0 with the expanded use of artificial intelligence. The second panel highlighted the need for sustainable development in the face of losing free environmental services due to climate change. Yet lacking in these panel discussions was the link between the two. A deeper look into the history of sustainable development reveals the link between the economy and ecology.

Brief history of sustainable development

DISCUSSIONS on the impacts of human behavior to the planet began in the 1960s with the publication of Rachel Carson’s 1962 book entitled Silent Spring. While the world celebrated the success of the Rockefeller Foundation-led Green Revolution in Mexico and India in the 1940s to 1950s, the book warned against the hazards of the overuse of chemical pesticides that was becoming part of the conventional agricultural practices.

In 1972, another book was published: The Limits to Growth. This book by spouses Donella and Dennis Meadows alongside Jorgen Randers and William Behrens explicitly warned against what they saw as the world’s inclination to exponential growth. Using actual data over the period 1900-1970 on output, natural resources, and pollution levels, among others, the book carries a Malthusian warning of collapse before year 2100 when looking at business-as-usual simulation scenarios.

The 30-year update of the book reveals many of their forecasts until 2000 were correct. In response, the United Nations World Commission on Environment and Development was founded in 1983. Headed by the Norwegian politician Gro Harlem

Brundtland, the commission sought to identify long-term strategies to address environmental and ecological degradation and published the report Our Common Future in 1987.

The book formally defining sustainable development being the type of development that “meets the needs of the present without compromising the ability of the future generations to meet their own needs” has also set the discourse on sustainable development around the world.

At the turn of the millennium, the state of the environment and natural resources continue to be causes for great concern in academe, across advocacy groups, and in the general civil societies across the world. In fact, another problem surfaced: climate change. The new millennium, therefore, saw former US Vice-President Al Gore becoming the poster boy for fighting climate change. In 2006, his book An Inconvenient Truth: The Planetary Emergency of Global Warming and What We Can Do About It reached masses around the globe when a documentary film accompanied the release of the book.

S

OME 89 years ago, on this day, the Sakdal, a newspaper of the Sakdalista movement came out with its 31st issue.

The left side carried the news of the “Bagong Katipunan

by Roxas.” The announcement says: “Bautizado con el pomposo titulo de “Bagong Katipunan….” Indeed, the group is seen as being pompous by assuming that they are continuing the revolution but this was 1930s and the Americans were a force, the only force to reckon with.

On the same page, an item about Rizal’s statue in Palanyag, Rizal— the present-day Parañaque—is being discussed. Where was the statue placed? The article asks the question and answers it: “Ano’t nilagay niyo sa sulok, sa tabi ng poso na pinaglalabhan?” (“Why did you place it beside the well where clothes are being washed?”).

The next question is about the “kiosko” or plaza: “Sa bayan ba o sa pare? Kung sa pare, ano’t natungo sa pare? Anong misteryo ito?” (“Is it for the town or the priest? If it’s for the priest, how did it become the priest’s?

What mystery is this?”).

It is November 22, 1930. Saturday. And nothing has changed to our world. The politicians are corrupt and shameless. The church is acquisitive and political. The Philippines is not free. And here is a newspaper fighting, it seems, all the ideologies around it.

It is November 1930 and there is forever. The questions that we ask today are being asked more than a

We cannot afford another Marawi nnn

Link between economy and ecology

THE link between the industrial revolution and climate change has been clear. The link was put forward to us by the Intergovernmental Panel on Climate Change by explaining that the increase in carbon-dioxide emissions and other greenhouse gases is the single main cause of climate change. The panel warns about warming of 1.5°C above pre-industrial age causing extreme climate scenarios like sea level rise, super typhoons in some areas and droughts in others. To put it another way, it was the First Industrial Revolution of the 1800s with the invention of the steam engine that triggered a chain of industrial developments.

The 1900s, therefore saw two more industrial revolutions in heavy machinery and then in computers that led to high growth but also led to global warming due to the use of fossil fuels. The previous century had, therefore, seen an inclination towards growth and progress not seen anywhere in the pre-industrial age.

In view of all of these rapid changes, we will answer next week how must we rethink our development strategies to accommodate the balance we desire.

Marjorie Muyrong is a PhD Sociology student at La Trobe University. She is currently on-leave from Ateneo de Manila University as an instructor of the Economics Department.

lifetime ago.

“Saan kayo tutungo, Kabataan?”

Where are you going, Youth? “Tanging ang kabataan natin ang di kumikilos hanggang ngayon?” Our youth are not doing anything today.

It is 1930, and a writer questions: “Ano ang iginanti sa mga naghimagsik sa 96?” What have we given in return to those who rebelled in 1896?

The writer says the revolutionaries were “mayayaman, matataba, kabataan, makikisig, masisigla” (wealthy, healthy, youthful, etc., when they joined the revolution. The opposite is true with our politicians. This was true in 1930s and still true in 2019 and, unfortunately, in the years to come.

It is 1930 and “Matanglawin” is complaining about the drop in the price of the Buntal hat manufactured in Lukban. The hat is being sold at tatlong piseta when in fact the material being used is sold for anim na piseta. A piseta is worth 20 centavos.

To understand the value of the piseta or peseta, one must think in terms

Manny F. Dooc

TELLTALES

Y

OU should visit Venice before it completely drowns. City Mayor Luigi Brugnaro has declared a state of emergency last week after many parts of the famous city got severely flooded with 6-foot high tide waters inundating almost 85 percent of its streets and buildings.

Such severe flooding has not occurred in over 500 years and it is feared that inestimable and irrecoverable damage had been caused to its architectural landmarks and cultural treasures. Venice consists of several islands sitting atop a tidal lagoon characterized by soft and shifting terrain upon which its structures are built. This is exacerbated by the effects of climate change, which accelerates the rise in sea levels and causes more frequent and violent storms at sea driving sea water into the lagoon. Makeshift walkways over the flooded streets were put up for people, many of them tourists, to move around without dipping their feet in floodwaters. It reminds me of similar walkways set up by enterprising people in flooded streets in Manila and charge pedestrians for walking through them.

The Venice catastrophe is yet another disastrous effect of climate

change that may put the city completely under water decades from now. The world should save Venice in the same way that people around the world has been helping to restore Notre Dame Cathedral to its grandeur. Venice was spared from the ravages of the 2nd World War when both sides agreed not to bomb one of the most beautiful places on our planet. But we cannot bargain with nature. Maybe it’s best to listen to the now renowned child climate-change activist, Greta Thunberg, and heed her plea if we want to keep Venice in the world map.

The merchant of Venice, Marco Polo, would have not returned home from his China travel had he found his home city sinking in water. He would have just stayed with and joined his new found friend, Genghis Khan, pillaged the neighboring kingdoms and in the process expanded the silk road.

After this eerie calm in currencies, what comes next?

By John Authers Bloomberg Opinion

H

ERE is a puzzle that is preoccupying the world’s currency dealing rooms.

No market is more liquid and nothing is more heavily traded than foreign exchange. The latest survey by the Bank of International Settlements, carried out in April, showed that total currency volumes traded per day reached $6.6 trillion (yes, trillion with a “t”). In fact, while other markets remain quieter than they were before the global financial crisis, foreign-exchange volumes have

more than doubled.

Add to this that the world has been roiled for 18 months now by the most serious trade conflict to involve the US since the current currency regime came into being with the end of the Bretton Woods system in 1971. Tariffs and threats of tariffs normally imply an immediate response from the currency markets to try to offset them. With vast sums of money changing hands every day, this should be a recipe for big lurches and high volatility such as hasn’t previously been present.

And yet, volatility is the lowest since the earliest days after Bretton Woods.

of the pricing in those years, where a Sakdal newspaper is worth limang centimos or 5 centavos. The writer then analyzes what is happening: the authority has allowed the artisans of Lukban to buy uway (a rattan species) from China.

Interestingly, the drop in the price of the Buntal hat is seen as the increase of poverty in Baliwag, Bulacan, where the selling of the hat was the activity of the entrepreneurs.

It is 1930 and the Catholic Church remains a great power. On the last page of the November 22 issue of Sakdal, Benigno Ramos, the founder of the newspaper, w rites about how the Revolutionaries of Malabon and the other areas have remained pro-Church. He cites as an example, Aguinaldo whose marriage was still held in a Roman Catholic Church. He proceeds to call these revolutionaries “Romanista” and “Frailista.”

This makes Sakdal a radical paper.

To fight the friars, one must fully fight the Church itself.

In the issue dated November 30, 1930, Sakdal continues to berate the government for fighting for independence and asserting its freedom from America, and yet loving American things.

It is 1930 and some two days away from December. Sakdal has another news that must have amused the new elite and the new

If we take a simple measure of five-day percentage moves in the dollar spot index (comparing it to other developedmarket currencies), we find that there hasn’t been a weekly swing of as much as 2 percent in almost two years. The last time this happened was in 1976.

Looking at implied volatility, foreign exchange as an asset class hasn’t been this calm since mid-2007, at the end of the period known as the Great Moderation before the financial crisis, when volatility across a variety of asset classes was artificially low: To take one final measure, the spread between the highest and lowest level for

the dollar index over the last 12 months is now below 5 percent. Again, this is the lowest since the very different days of 1977, when a number of the biggest US trading partners still had tightly controlled currencies. And while the dollar remains the linchpin of the global financial system, plenty of major pairs that don’t involve the greenback also show very low volatility. This is a global effect.

How can foreign exchange be so calm at such a turbulent juncture for international trade? One field of explanations covers the macro. The Federal Reserve executed a U-turn at the turn of the year and cut rates, thus heading off concerns

Americanized Filipino: “Ang mga adorno sa eskuelahan ay dapat nang lubayan. Sa halip niyan, ay tipunin at ibili ng alaala para sa mga dukha. The decoration for the schools must be stopped. Instead, the money [for those décors] should be collected and used for the poor.”

The banner headline for the day: Dapat Siyasatin ang Kayamanan Nina Quezon, Osmeña, Roxas, at Lahat ng Lehislador. The wealth of Quezon, Osmeña, Roxas and all the Legislators should be examined.

For us reading this headline, there is no need to inquire what happened with this demand.

The fact is patronage politics never changed and the rich politicians maint a i ned t hei r wealth through the years.

It is the last day of November of the year 1930. Sakdal and its accusations are relentless.

In Nabotas (Navotas), registration for every child birth requires a payment of 20 centimos or 20 centavos.

The people of Nabotas say they do not understand this requirement. A receipt explains the fee as “miscellaneous tax.”

On that same third page, an article complains about the Chinese who seeks shelter but who takes over the house.

It is November 1930 and it feels like November 2019.

E-mail: titovaliente@yahoo.com

THE death of Abu Bakr Al-Baghdadi, the self-anointed caliph of the Islamic State of Iraq and Syria (ISIS) does not end the dreaded terrorist jihadist organization that he previously led. Initially, it owed its

allegiance to Al Qaeda but they bitterly split in 2013. ISIS took part in the Iraqi revolt when the country was invaded by Western forces with the support of US. In the middle of 2014, it proclaimed itself a caliphate and claimed authority over all Muslims around the world. Its insurgency expanded in Syria, Libya, Yemen, Afghanistan, and other Muslim territories, including the Philippines where it participated in the Marawi siege in 2017, a five-month long military battle. At the height of its greatest territorial conquest in 2015, “it held a large area extending from Western Iraq to Eastern Syria, containing an estimated 8 to 12 million people.” Its military force was augmented by volunteers from different nationalities all over the world who had been romanticized by its initial successes in the field. Under its new leader, Abu Ibrahim Al Haqshimi Al-Qurayshi, ISIS will expectedly re-assert its radical brand of Islam and promote its hardline and militant ideology.

Whoever leads it, ISIS will remain a threat. The increasing incidents of suicide bombings in Mindanao initiated by ISIS adherents is a cause of serious concern. The conditions which nurtured ISIS in the first place—religious discrimination, inefficient government and economic inequalities between the Christian and Muslim populations—still abound. We should not let our guards down. We cannot afford another Marawi.

that it would over-tighten—something that can reliably expand volatility. There is now a deal of comfort over the Fed’s course for the foreseeable future: It won’t be raising at all, and it won’t be cutting much. Meanwhile, other big central banks are also easing, giving little compelling reason to shift between currencies. In all cases, bets on central banks are asymmetric; they could ease but they won’t tighten. And global economies are sufficiently linked that if one has to ease, others will probably do the same.

And while trade conflicts may be adding to the sources of volatility, changes in the oil market have taken away one

critical source of turbulence. With the rise in supply from outside Opec, even a major Middle East story such as the drone attack on a major Saudi Arabian oil installation earlier this year had little effect on the currency market.

There are also some micro factors.

Bonds and stocks also show very low volatility, if not the historic lows seen in foreign exchange. Hedge funds have placed heavy bets on volatility to stay low, and this becomes a self-fulfilling prophecy. Plus the sheer liquidity of foreign exchange does have the effect of ensuring against sudden stops or extreme moves in response to news.

THE death of wealthy taipan and one of Forbes Asia’s first Heroes of Philanthropy in the whole of Asia, John Gokongwei Jr. has distressed people from all walks of life. Unknown to many, Robinsons Land Corp. allows SSS free use of office space in over 30 malls it operates around the country, saving the pension fund millions in rental costs annually. When Mr. John passed away, I even failed to visit his wake nor found time to offer my commiseration to the grieving family.

But the death of the matriarch a day after Mr. John’s burial touched me in a way I have not felt since the death of my own mother more than five decades ago. I am an incurable romantic and Mrs. Elizabeth Yu Gokongwei’s passing to join her dear departed husband of 61 years only proves that two hearts that beat as one cannot survive without the other. She must be dying little by little every moment that he was no longer around her. Now they have each other forever. They did not bring their vast fortune in heaven but they carry with them their greatest wealth—the unconditional love they have for each other. God bless your souls, Mr. and Mrs. John. nnn

A8 Friday, November 22, 2019

House, Senate panels pitch higher vaping tax, not ban ₧1.4B I NSTEAD of repealing the law taxing heated tobacco and vapor products, the chairman of the House Committee on Ways and Means on Thursday said the lower chamber will just increase taxes on these products.

A similar thrust was pitched in the Senate by that chamber’s Ways and Means panel chief, Sen. Pia Cayetano, who favors strict regulations and higher taxes on vape, while her colleague Sen. Christopher “Bong” Go wants an outright ban.

On Thursday, Albay Rep. Joey Sarte Salceda, the panel chairman, said the House will no longer remove the additional taxes for heated tobacco and vapor products, as President Duterte had only ordered banning the use of these products

Estimated revenue loss for the government if it repeals the vape-tax portion in Section 2 of Republic Act 11346, passed by the 17th Congress, imposing additional taxes on heated tobacco and vapor products

in public.

Just the day before, Salceda said they will repeal Section 2 of Republic Act 11346, passed by the previous (17th) Congress, even if it means revenue loss of P1.4 billion for the government.

“We might will go for a higher

rate than P25/ml to P45/ml. The 1 million vape users are almost totally upper middle to high income class versus the 23 million smokers with 7 million in the lowest 50 percent. The entry cost to vaping is relatively high at P1,600,” he added.

In August, the 18th House approved on third and final reading HB 1026 raising anew the excise taxes on alcohol products, heated tobacco and vapor products.

The measure stipulates that heated tobacco products shall now be levied an excise tax rate of P45 per pack next year, with an incremental increase of P5 the following years until 2023. The tax imposed shall increase by 5 percent each year after that, starting in 2024.

Continued on A2

PING’S BUDGET POSER: WHY BORROW P897B TO FILL P677-B DEFICIT?

By Butch Fernandez @butchfBM

S

EN. Panfilo Lacson on Thursday questioned plans by the Duterte administration’s finance managers to overborrow P897 billion to cover an estimated P677-billion deficit in next year’s P4.1-trillion national budget.

Fielding questions at the weekly Kapihan sa Senado, Lacson stressed the need for further scrutiny and deliberations after questioning proponents from government’s spending agencies to justify huge allocations of public funds.

“So [that’s the] situation. So [we see a need for debate and interpellation and a real discussion, where agencies can be questioned and their presentations reviewed, because in a way the budget deliberations

serve like a congressional oversight exercise in order for us to see if the national government is properly handling the funding,” Lacson added, in a mix of English and Filipino.

Lacson added that “every year, our discussion on the annual budget is a learning experience, simply because we do our research and then there are so many things we discover every year, some irritating, some shocking, some funny.”

The senator stressed the duty of lawmakers“to scrutinize and debate on the national budget. After all, this money belongs to all of us.” He cited as an example of a provision that invited attention the fact that “we are borrowing more than what we need to spend,” adding that the projected borrowing in 2020 is just an example of “the magnitude of the problem that should be our concern.”

Continued on A2

Rice self-sufficiency rate seen dropping further

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE country’s rice self-sufficiency this year could fall further to 85 percent, the lowest since 2010, due mainly to lower palay production, the Department of Agriculture (DA) said

SEVERE TROPICAL STORM "SARAH" 255 KM EAST OF BASCO, BATANES LOW PRESSURE AREA 400 KM WEST SOUTHWEST OF SUBIC, ZAMBALES as of 4:00 pm - November 21, 2019

on Thursday.

The Philippines’s rice self-sufficiency ratio (SSR) fell to an eightyear low in 2018, as more imports flowed into the country to plug the shortfall in domestic production, according to the Philippine Statistics Authority (PSA).

The DA estimated total un-

husked rice output this year to reach 18.48 million metric tons (MMT), 3.04 percent lower than last year’s record of 19.06 MMT. This could be the country’s lowest palay production in three years after hitting 17.627 MMT in 2016, based on historical PSA data.

T he DA sa id the ex pected

full-year palay output translates to about 12.09 MMT of milled rice at a 65.42-percent milling recovery rate.

“If we have to compare our rice adequacy level, we are short of 15 percent. So, only 85 percent of our production this year [supplies See “Self-sufficiency,” A5

US submarine tender, ‘Emory Land,’ docks at Subic

By Rene Acosta

@reneacostaBM

T

HE United States submarine tender USS Emory S. Land docked in Subic, early this week for a combination of a port visit, maintenance and ships assessment.

The berthing of the Emory, one of the US Navy’s only two submarine tenders, occurred on the eve of US Defense Secretary Mark Esper’s visit to the Philippines, where he reaffirmed America’s commitment under the Mutual Defense Treaty (MDT).

Esper met with Defense Secretary Delfin Lorenzana, and both leaders agreed to work on various areas to further strengthen and widen their countries’ defense relations.

The Emory S. Land dropped anchor in Subic, according to the US Pacific Fleet.

Its combined civilian and military crew will spend days completing a series of inspections in order to assess the ship’s capabilities.

The inspections are a part of the US Navy’s Land’s Fleet Maintenance Activity Assessment (FMAA).

“The FMAA is an annual evaluation conducted by commander, Submarine Force Pacific, that measures our ability to provide maintenance support to the fleet,” said the vessel’s commanding officer, Capt. Michael Luckett.

“Our repair and supply departments have been working hard to prepare for this assessment,” he added.

The Pacific Fleet said the FMAA is a thorough look into the ship’s ability to complete repairs, production, maintenance and training.

It said that as a fleet maintenance activity, the submarine tender is expected to maintain a full range of capabilities to perform quality maintenance in accordance with the Naval Sea Systems Command (Navsea) and Joint Fleet Maintenance Manual (JFMM) specifications.

We’re ready to demonstrate our capabilities,” said Land’s repair officer, Cmdr.

Andrew Maurice.

“Every year we get a thorough outside look at our programs and processes though this assessment. This assessment allows us to make our repair department See “Emory,” A2

SAFE, DRIVERLESS RIDE Pierre Lefevre (left), chief technology officer, and David Hickey, chairman and CEO of COAST—provider of driverless vehicles to be used in the Southeast Asian Games—show how a driverless car is safe and effective in a smart city like the New Clark City, which will be privatized after the SEA Games. COAST has promised to transport 14 passengers per vehicle—10 seated and four standing—especially athletes going to three stations inside the NCC where the Track and Field, Aquatics and other sports will be held. BERNARD TESTA

Citira bill. . .

Continued from A1

Economic zone locators, mostly multinationals, warned they will be compelled to relocate to another Southeast Asian country if their incentives are lifted. This looming capital flight, according to JFC estimates, will result in job losses of as many as 700,000.

“It’s such a big issue and I’m not sure how fast the Senate can move on it. I do believe right now that if this bill is presented to the Senate and voted up or down, it will be down. I don’t think there are enough senators supporting the current bill,” Hinchliffe said.

If senators want to pass the Citira bill within the year, Hinchliffe suggested that they start deliberations right after the national budget is legislated. Or else, the measure will certainly be carried over for debate next year, spilling over the uncertainties, he warned.

“If we can just reach a few compromises on the status of the current investors and reach a few compromises about the future investments, we got a deal,” he added. The business leader is also requesting the Department of Finance (DOF) to consider the JFC’s proposal of raising the GIE rate to 7 percent instead of rationalizing existing incentives. Under such condition, locators get to keep paying tax based on their GIE. “We are very open to compromises. If we

Inflation. . .

Continued from A1

Groups such as Ibon Foundation Inc. believe that real wages have been flat for over 15 years despite the increase in labor productivity.

However, Edillon said, the government does not have the latest data yet on wages, as well as its impact on the lives of the urban poor in Metro Manila.

“We don’t have the latest data yet.

What we do know is that many more have jobs with pay,” Edillon said.

can get DOF to meet us halfway, my proposal from the [group’s] standpoint is 7-percent GIE. Anything greater than 7 percent is not acceptable, but 7 percent is the perfect number that we could compromise on,” Hinchliffe said.

The Citira bill, which hurdled the House of Representatives in September, will reduce corporate income tax rate to 20 percent by 2029, from 30 percent at present—the highest in the region. It will also rationalize incentives granted to economic zone firms.

The prolonged deliberation on the measure caused investment uncertainties to the Philippines tracing back to last year, when investments in the Philippine Economic Zone Authority (Peza) declined to P68.32 billion, from P78.27 billion in 2017, based on official data.

In October, investors opposed to the Citira bill lost their strongest backer from within the state’s ranks after Peza Director General Charito B. Plaza went on to toe the government line on tax reform. In spite of this, they bared they will insist before the senators that they be allowed to keep their incentives under the Citira bill, as earlier reported by the BusinessMirror (See “Firms brace for Citira battle,” in the Businessmirror, October 23, 2019).

The Citira bill’s 17th Congress version, Trabaho—short for Tax Reform for Attracting Better and High-quality Opportunities— slipped past the lower chamber but was rejected by the Senate.

Inflation for the bottom 30 percent income households in AONCR eased further to 0.8 percent in October 2019. Inflation was higher at 0.9 percent in September 2019, and 9.5 percent in October 2018.

The annual rate of FLW index went down further by 0.6 percent in October 2019. In addition, slowdowns were noted in the annual increases of the indices of FBT at 0.6 percent; and services, 2.8 percent.

Meanwhi le, t he ind ices of clothing, H&R, and miscellaneous retained their previous month’s annual rates.

BusinessMirror

www.businessmirror.com.ph Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 November 22, 2019

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

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

41

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIAXIN CHEN/ Chinese

Chinese Customer Service Representative

42

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. THI HA/ Burmese

43

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIALAN WU/ Chinese

Chinese Customer Service Representative

44

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HANGTIAN GENG/ Chinese

Chinese Customer Service Representative

45

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JING SHAO/ Chinese

Chinese Customer Service Representative

46

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WEI KUANG/ Chinese

Chinese Customer Service Representative

47

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHENG LI/ Chinese

Chinese Customer Service Representative

48

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ANQI DENG/ Chinese

Chinese Customer Service Representative

49

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LICHUAN WEI/ Chinese

Chinese Customer Service Representative

50

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIUCONG HUANG/ Chinese

Chinese Customer Service Representative

51

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIM BOON CHUANG/ Malaysian

52

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BING YI/ Chinese

Chinese Customer Service Representative

53

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YINGYING HAO/ Chinese

Chinese Customer Service Representative

54

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SHUANGSHUANG FENG/ Chinese

Chinese Customer Service Representative

55

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUNHENG SHEN/ Chinese

Chinese Customer Service Representative

56

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANG LI/ Chinese

Chinese Customer Service Representative

57

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHAO JI/ Chinese

Chinese Customer Service Representative

58

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. MINLING FU/ Chinese

Chinese Customer Service Representative

59

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DEWEN SUN/ Chinese

Chinese Customer Service Representative

60

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAOJIE LI/ Chinese

Chinese Customer Service Representative

61

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAOJIE ZHANG/ Chinese

Chinese Customer Service Representative

62

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. QI HUANG/ Chinese

Chinese Customer Service Representative

63

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUANGYAO SONG/ Chinese

Chinese Customer Service Representative

64

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIAOWEI WANG/ Chinese

Chinese Customer Service Representative

65

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MINGJIAN ZHENG/ Chinese

Chinese Customer Service Representative

66

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YANDUO YAN/ Chinese

Chinese Customer Service Representative

67

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. TINGTING DAI/ Chinese

Chinese Customer Service Representative

Myanmari Customer Service Representative

1

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUTANG LI/ Chinese

2

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JASON TAY CHUNG PIN/ Malaysian

3

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. TAO WANG/ Chinese

Chinese Customer Service Representative

4

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANGCANG HAN/ Chinese

Chinese Customer Service Representative

5

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MINGZHENG XIANG/ Chinese

Chinese Customer Service Representative

6

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. WEIHANG FANG/ Chinese

Chinese Customer Service Representative

7

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. DONGDONG SONG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BORUI ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZENGQUAN SU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DONGBO YANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QI LIU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIMING DU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BINGLIN CAO/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHUAIJUN YIN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIYING NONG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QI ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WEIHUI WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YULING LIU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JUAN WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YIJUN GAO/ Chinese

Chinese Customer Service Representative

21

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FONG TAI PING/ Malaysian

22

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HUICHUAN YANG/ Chinese

Chinese Customer Service Representative

68

MR. FUHAO LI/ Chinese

Chinese Customer Service Representative

MR. PENGFEI HU/ Chinese

Chinese Customer Service Representative

23

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

69

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIPENG ZHENG/ Chinese

Chinese Customer Service Representative

24

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CAIQIN XU/ Chinese

Chinese Customer Service Representative

70

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIUFU HUANG/ Chinese

Chinese Customer Service Representative

25

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIANG SHUI/ Chinese

Chinese Customer Service Representative

71

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIPING JIANG/ Chinese

Chinese Customer Service Representative

26

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIHUI TAN/ Chinese

Chinese Customer Service Representative

72

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHAO LIU/ Chinese

Chinese Customer Service Representative

27

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIAJIE TANG/ Chinese

Chinese Customer Service Representative

73

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YOUCAI TANG/ Chinese

Chinese Customer Service Representative

28

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIAMING LUO/ Chinese

Chinese Customer Service Representative

74

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WEN YANG/ Chinese

Chinese Customer Service Representative

29

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. TONG WANG/ Chinese

Chinese Customer Service Representative

75

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LEI LI/ Chinese

Chinese Customer Service Representative

76

B/E AEROSPACE B.V. FPIP Brgy. Ulango, Tanauan City, Batangas

MS. ANGELA CASTELLANO / British

77

FUJITSU DIE-TECH CORPORATION OF THE PHILIPPINES SEPZ, Laguna Technopark, Biñan City, Laguna

MR. MASARU WATANABE / Japanese

78

T & S GLOBAL SOLUTIONS, INC. FPIP, Sta. Anastacia, Santo Tomas, Batangas

MR. YOSHINORI ITO / Japanese

Vice President/CFO

MR. ANG WEE SHIEN JOHN/ Singaporean

Managing Director

8 9 10 11 12 13 14 15 16 17 18 19 20

Chinese Customer Service Representative

Friday, November 22, 2019 A9

Malaysian Customer Service Representative

Malaysian Customer Service Representative

30

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YU HAN

Chinese Customer Service Representative

31

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GAOXIANG FU/ Chinese

Chinese Customer Service Representative

32

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIANG LYU/ Chinese

Chinese Customer Service Representative

33

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BINGYANG XU/ Chinese

Chinese Customer Service Representative

34

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. TIAOHE HUANG/ Chinese

Chinese Customer Service Representative

79

SILVER GOOSE 8 INTERNATIONAL, INC. Brgy. Inchican Silang, Cavite, Silang, Cavite

35

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. AUNG PYAE SONE/ Burmese

Myanmari Customer Service Representative

80

KABISIG WORKERS COOPERATIVE MR. MIAOLIN LI / Brgy. Maduya, Carmona, Cavite Chinese

36

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KONE KYU/ Burmese

Myanmari Customer Service Representative

37

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHEN ZHANG/ Chinese

Chinese Customer Service Representative

38

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HAO ZHANG/ Chinese

Chinese Customer Service Representative

39

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAPING DONG/ Chinese

Chinese Customer Service Representative

40

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XUN LIAO/ Chinese

Chinese Customer Service Representative

Malaysian Customer Service Representative

Associate Director, Customer Service Quality Control Section Adviser

Embroidery Manager

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

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

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007271

A10 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A11

A12 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A13

A14 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A15

A16 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A17

A18 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A19

A20 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A21

A22 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph

BusinessMirror

Friday, November 22, 2019 A23

A24 Friday, November 22, 2019

BusinessMirror

www.businessmirror.com.ph

In the ad material of Notice of filing of Application for Alien Employment Permits published on August 30, 2019, the Position of Mr. Kalose, Nanda Kumar Nagaraja Rao under IBM SOLUTIONS DELIVERY, INC. should have been read as Package Consultant: Workday HCM & Compensation and not as published.

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

www.businessmirror.com.ph

Friday, November 22, 2019

B1

NGCP plans ₧463-B transmission projects

T

By Lenie Lectura

@llectura

HE National Grid Corp. of the Philippines (NGCP) has programmed P463 billion worth of transmission projects for the next 10 years, higher than the P151-billion transmission projects invested in the past decade.

These projects, set to be completed in the coming years, include the 500 kV Substation Proj-

ects (Taguig and Marilao) and 230 kV Substation Projects (Pasay, Navotas and Antipolo), which

intend to fill the load growth of Metro Manila; the Cebu—Bohol 230 kV Interconnection Project, to accommodate the load growth of and provide reliability to Bohol Island; the Nabas-CaticlanBoracay Interconnection Project, which intends to accommodate the load growth of and provide reliability to Boracay Island; the Visayas Voltage Improvement Project, to improve the power quality in Visayas; the Mindanao 230 kV backbone project, to upgrade the region’s transmission capacity and secure the reliability of power transmission services throughout the island; the Mindanao Substation Upgrading

Greenergy submits proposal for modern tramway system in Mla

B

USINESSMAN Antonio Tiu has submitted an unsolicited proposal to the Manila City government to build a modern tramway system within the country’s capital.

In its disclosure, the Tiu-led Greenergy Holdings Inc., will be the vehicle used for the financing, development, implementation and operation of a modern tramway system within the city.

No other details were given on the project.

Tiu, through Philippine Infradev Holdings Inc., will build a $3.5-billion subway in Makati, construc-

tion of which is scheduled to commence in December after it secured the green light from the local city government.

Philippine Infradev, formerly IRC Properties Inc., is also being headed by Tiu. Tiu earlier said these railway systems can be interconnected in the future to create a complete railway system that connects the main cities of Metro Manila.

Tiu earlier announced the completion of a six-month soil testing along the proposed alignment of the 10-kilometer Makati intracity subway system with no adverse findings.

The proposed subway would connect key points in Makati like the current Central Business District at the corner of Ayala and Sen. Gil Puyat Avenues, Circuit City, Makati City Hall, University of Makati, Ospital ng Makati and other new growth areas within the city.

The subway will have up to 10 airconditioned, underground island stations. It can accommodate up to six car trains, with room for over 200 persons per car. More than 700,000 passengers per day can be accommodated and served by the proposed mass transport system. VG Cabuag

SBMA chief cited for governance in Asia Leaders Awards 2019

By Henry Empeño

S

U BIC B AY FR EEPORT— Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma received recognition for excellence in governance during the Asia Leaders Awards 2019, which acknowledge leaders who promote the Philippines as the premier business hub in Asia and beyond.

Eisma was bestowed the “Woman of the Year” award, along with five other women executives who excelled in their respective fields during a ceremony at the ShangriLa Hotel in Makati City on Tuesday night.

The American Association of the Philippines (AAP), a nonprofit organization which helped organize this year’s awards, presented the award to the SBMA chief.

The other “Woman of the Year” awardees were Fila President and CEO Cris Albert; Ayala Land Inc. Senior Manager Mariana Zobel de Ayala; GRBank Senior Executive Vice President and COO Elizabeth Timbol; Richprime Global Inc. President and CEO Myrna Yao; and Asian Tigers Mobility VP and CEO Virginia Lane.

In the same ceremony, Manila Mayor Isko Moreno received the “Man of the Year” award, which was also given to former Senator Manny Villar, Presidential Spokesman Salvador Panelo , Bacolod City Mayor Evelio Leonardia, Dito Telecommunity Corp. CEO Dennis Uy and Pasig City Mayor Vico Sotto.

In receiving the award for governance, Eisma expressed gratitude for having been recognized for her role as head of the SBMA, which manages the Subic Bay Freeport Zone.

“It is certainly humbling to know that the movers and shak-

“WOMAN of the Year” winner SBMA Chairman and Administrator Wilma T. Eisma is joined onstage

by Zoomanity Group President and CEO, and awards committee member Robert Yupangco during the Asia Leaders Awards 2019 ceremony.

ers in the Asian and Philippine business circles view the SBMA as one of the premier institutions significantly contributing to the country’s economic growth and stability,” Eisma said. “I am deeply honored and grateful.”

The award was the latest recognition that Eisma has received since becoming SBMA chairman and administrator in late 2017.

According to Engr. Grace Bondad-Nicolas, cofounder of the TAG Media Group that organized the event, the Asia Leaders Awards recognizes individuals “who not only exemplify great leadership among their peers, but also offer solutions to the problems of the country and our nation.”

“Above all, we award individuals who go beyond to demonstrate an outstanding achievement for the welfare of others,” she added.

AAP Chairman Rick Sobreviñas, a member of the awards committee this year, also said that it was “important to recognize the contributions of outstanding lead-

ers who move society forward and find better ways to deliver value to their customers or stakeholders, as well as advance the economic development of our country.”

Aside from the “Woman of the year” and “Man of the Year” awards, the major citations during the Asia Leaders Awards 2019 included “Young CEO of the Year,” sponsored by the Embassy of Malaysia; “CEO of the Year,” given by the Embassy of Korea; “Businessman of the Year,” from the Philippine Korean Council; and “Entrepreneur of the Year,” which was handed out by the Cagayan Economic Zone Authority.

Among those who sat in the ALA awards committee this year were: Ambassador of the Republic of Korea to the Philippines Han Dong-man; Sobreviñas; Deputy Ambassador of Malaysia to the Philippines Rizany Irwan Muhamad Mazlan; Malaysia Chamber of Commerce and Industry Vice Chairman Eric Yam; and Commission on Elections Spokesman James Jimenez.

Project, to increase the substation capacity and improve power quality; and the Kabacan 138 kV Substation Project, to enhance power reliability in southwestern Mindanao.

“An estimated total investment worth P463 billion is programmed for the next 10 years,” said the grid operator.

These are priority projects meant to improve transmission backbones and alternative transmission corridors, and to develop resiliency policies for power transmission facilities, said NGCP.

MVIP on track

THE grid operator, meanwhile, is

on-track to complete the Mindanao-Visayas Interconnection Project (MVIP), considered as the largest energy infrastructure in the history of the country.

“We are dedicated to completing the MVIP by December 2020, not only because we committed this, but also because interconnection among the three main grids is long overdue. The interconnection of Visayas and Mindanao was first proposed by government in 1984; but it was private-entity NGCP which brought the government’s decades-old plan from the feasibility stage to the implementation and completion stage,” it said.

“Our projects, which will be worth P188 billion by end of 2019, and those in the pipeline, are meticulously planned by our engineers and updated year after year with careful consideration for the needs of every single area in the country,” NGCP added.

For the past 10 years, NGCP has invested P151 billion into the government’s aging transmission system.

The amount included a total of 5,626 transmission structures, 2,472 circuit-kilometers of transmission lines, 18 new substations, 63 upgraded substations and an additional 15,634 MVA of transformer capacity.

PayMaya, 1st digital wallet to migrate to BSP-backed natl QR code standard

P

AYMAYA Philippines Inc. has cemented its position as the first digital wallet in the Philippines to officially migrate to the national quick response (QR) code standard sanctioned by the Bangko Sentral ng Pilipinas (BSP), a move that will facilitate stronger interoperability among financial institutions.

Today, QR PH, the official standard for QR codes in the country, is available for peer-to-peer fund transfers. PayMaya initially allows its users to receive funds from other institutions, such as Union-

Bank, LandBank and Chinabank, among others.

“This is yet another milestone initiative that will help accelerate the adoption of digital payments across the country,” PayMaya Founder Orlando B. Vea said on Thursday.

To facilitate fund transfers, PayMaya account holders just have to generate their own QR code, and allow the sender to scan the code and input the amount to be sent.

QR PH will be expanded to merchants in the long run, as the Central Bank aims to unify the digital payments systems in the Philip-

pines, making them interoperable for consumer convenience.

The standardized QR scheme is scheduled for full implementation

by June 2020.

“As we work with the government and the rest of the industry to push for QR PH and enabling card and emerging digital payments acceptance for government agencies, more Filipinos will embrace the convenience, added value, and security of going cashless,” Vea added.

PayMaya is the financial technology arm of PLDT Inc. Lorenz S. Marasigan

B2

Companies BusinessMirror

Friday, November 22, 2019

PSE STOCK QUOTATIONS

November 21, 2019

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH

53.8 154.3 90.85 25.1 12.66 66.4 12.7 20.65 41.2 57.5 25.35 199.8 59 0.95 1.88 18.2 4.23 7.73 1.21 0.39 802.5 0.85 173

54 154.8 90.9 25.15 12.78 66.95 12.98 20.95 41.45 58.95 25.4 201 59.5 1.13 2.1 18.58 4.37 8.49 1.34 0.41 817.5 0.88 173.8

53.75 157.8 92.25 25.2 13.06 67.05 12.7 20.65 41.75 58.95 25.45 202.8 59.25 1.11 1.9 18.58 4.33 7.73 1.21 0.39 802 0.87 173.1

54 157.8 92.85 25.25 13.06 67.7 12.7 20.65 41.8 58.95 25.55 203 60 1.13 1.9 18.58 4.37 7.73 1.21 0.395 824.5 0.88 174.4

53.7 154.3 90.9 25 12.62 66 12.7 20.65 41.2 58.95 25.2 197.1 59 0.98 1.9 18.2 4.23 7.73 1.21 0.39 802 0.87 173

53.8 154.3 90.9 25.15 12.66 66.95 12.7 20.65 41.2 58.95 25.4 201 59 1.13 1.9 18.2 4.37 7.73 1.21 0.39 818 0.88 173.8

3040 1827670 2273360 89000 289100 1717250 8000 500 167500 690 131400 689820 3870 598000 7000 1000 209000 500 1000 170000 940 10000 260

163468 282798128 207646388.5 2230885 3688750 114372851 101600 10325 6952120 40675.5 3327150 137990310 229059.5 619560 13300 18504 895890 3865 1210 66450 754665 8710 45099

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

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

71020 -34969736 -112937048 -613635 -576446 -6045659.5 -3612540 -1285835 313821 5310 -870 -15678

2.46 1.22 34.7 0.24 23.15 76.8 317.8 18.5 4.52 10.84 31.95 7.85 13.4 3.6 18 15.08 5.1 8.74 7.22 87.6 0.59 41.5 198.6 47.5 8 12.46 0.181 1.39 11.5 1.99 5.4 1.97 0.121 151.4 1.12 2.5 65.05 68.05 2.34 5.34 15.1 10.3 13.88 17 9.6 1.02 0.98 2.06 4.96 28.1 2.02 8.19 1.36 5.19 0.99 5.66

2.47 1.24 35.2 0.243 24 76.9 319 19 4.56 11 32 7.86 13.96 3.65 18.88 15.1 5.24 8.75 7.23 90 0.6 41.8 198.9 48.5 8.88 12.48 0.182 1.4 11.6 2 5.43 1.98 0.122 152 1.13 2.52 65.1 69 2.38 5.45 15.2 10.4 13.98 17.14 9.9 1.05 0.99 2.1 5 28.5 2.03 8.2 1.42 5.3 1 5.7

2.58 1.22 36.25 0.242 22.4 77.7 327 19 4.65 10.94 32.3 7.89 14.16 3.74 18.4 15.08 5.1 8.85 7.23 85 0.6 42.55 205 47.55 8.22 12.54 0.182 1.43 11.7 1.99 5.35 1.97 0.126 151.8 1.21 2.43 65.05 68.2 2.43 5.34 15.08 10.32 13.92 17.06 9.71 1.07 0.99 2.08 5.05 28.5 2.03 7.82 1.42 5.3 1.01 6.59

2.58 1.22 36.25 0.247 24 77.7 327 19 4.7 11 32.3 7.89 14.46 3.74 18.4 15.12 5.3 8.85 7.25 90 0.6 42.55 207.8 47.55 8.92 12.56 0.182 1.48 11.7 2.03 5.46 1.97 0.126 152.5 1.21 2.5 65.05 68.2 2.48 5.34 15.1 10.4 13.98 17.14 10 1.07 1.01 2.09 5.05 28.7 2.07 8.2 1.42 5.3 1.01 6.7

2.44 1.22 34.55 0.235 22.4 76.8 316 18.5 4.51 10.86 31.9 7.8 13.7 3.5 18 15 5.1 8.73 7.22 85 0.59 40.9 198.1 47.55 8 12.4 0.182 1.37 11.5 1.99 5.35 1.97 0.12 150 1.09 2.43 65.05 68.05 2.28 5.34 15 10.3 13.9 16.86 9.4 1.02 0.98 2.06 5 28.5 1.98 7.75 1.36 5.3 1 5.7

2.46 1.22 34.7 0.243 24 76.9 319 19 4.56 11 32 7.85 13.96 3.65 18 15.08 5.24 8.75 7.22 90 0.6 41.8 198.6 47.55 8.92 12.48 0.182 1.4 11.6 2 5.46 1.97 0.121 152 1.12 2.5 65.05 68.05 2.34 5.34 15.1 10.4 13.98 17.14 9.41 1.05 0.98 2.06 5 28.5 2.02 8.19 1.42 5.3 1 5.7

7509000 27000 2116700 1160000 3023900 141670 224290 99400 1198000 18800 338800 99600 215200 4270000 1000 144200 1100 638000 486700 266570 130000 29500 781770 700 16600 95200 960000 3027000 63300 976000 5900 22000 10450000 812790 16894000 108000 1960 940 5527000 30400 28200 236800 337000 840500 42000 432000 2892000 45000 1041400 18900 15823000 307800 437000 100 90000 1988400

18768020 32940 74006445 274660 71129895 10900643 71384528 1859718 5480390 206254 10,833,590( 779689 3028264 15290580 18120 2174216 5758 5587222 3515261 23880620.5 77700 1222200 156287582 33285 135374 1188606 174720 4228090 734260 1945390 31784 43340 1274240 123054439 19225580 269440 127498 64025 12922660 162336 424186 2439306 4694350 14,360,116( 398717 443590 2872900 93500 5208652 538710 32201670 2442045 605140 530 90100 11798807

-2219250 -49537000 -10706920 -7859329.5 -14310096 -181434 -778950 -14234 1,786,774.9997) 62400 1580938 2520460 841294 -1909714 -1790663 4683627.5 -136490 -49549993 -94886 -282240 96280 -20865 -35069206 -10624730 269440 3031560 99556 -90860 -2441760 6,371,413.9999) -4933650 -28560 -756269.9997 1516934 -238286

0.77 12.34 811 51.8 11.2 3.38 6.6 0.7 0.94 0.97 7.02 6.7 13.1 0.205 875 77.55 0.49 4 12.8 0.56 4.42 0.036 1.24 1.24 1055 157.5 0.82 213.2 0.211 0.225

0.78 12.58 814 51.9 11.22 3.4 6.8 0.72 0.95 0.98 7.04 6.75 13.38 0.222 876.5 77.95 0.5 4.07 12.98 0.58 4.45 0.037 1.3 1.25 1070 160 0.84 213.6 0.223 0.226

0.8 12.56 825 50.75 11.3 3.44 6.79 0.75 0.91 0.98 7.02 6.97 13.38 0.21 890 77.75 0.51 3.99 13 0.55 4.67 0.036 1.26 1.25 1070 160 0.84 215 0.212 0.226

0.8 12.7 825.5 51.9 11.36 3.45 6.8 0.75 0.97 0.99 7.07 7.05 13.38 0.21 890 77.95 0.51 4.06 13 0.58 4.67 0.037 1.3 1.25 1070 160 0.84 215 0.215 0.226

0.76 12.34 810 50.5 11.12 3.38 6.79 0.69 0.91 0.97 7 6.67 13.38 0.205 871.5 75.55 0.485 3.99 12.7 0.54 4.42 0.036 1.25 1.22 1050 157.6 0.83 213.6 0.211 0.226

0.78 12.34 811 51.9 11.22 3.38 6.8 0.72 0.95 0.98 7.04 6.7 13.38 0.205 876.5 77.95 0.5 4.04 12.8 0.58 4.42 0.037 1.3 1.24 1070 160 0.84 213.6 0.211 0.226

10258000 4500 288730 659120 12195100 2652000 2100 336000 2479000 1314000 5534900 38521300 300 170000 74390 915830 455000 35000 4029200 150000 18592000 200000 137000 320000 232485 96340 271000 340 240000 110000

8007730 56180 234323605 33820808.5 136706100 9011690 14260 237600 2347640 1282570 39005097 259849224 4014 35650 65220695 70504405.5 223045 141130 51641678 83540 83491520 7300 171400 395010 247838480 15399338 225090 72838 51140 24860

-913900 -94344925 -18213763.5 -2582852 -160330 541000 5665353 -136530030 -43803890 -21858734.5 -29279242 -27772740 48343310 -8162877 -8400 -

PROPERTY

ARTHALAND CORP 0.85 0.86 0.93 0.95 0.84 0.86 10582000 9097150 169660 ANCHOR LAND 8.83 9.77 8.85 8.85 8.83 8.83 5000 44190 AYALA LAND 45.2 45.25 45.7 45.7 44.15 45.2 13189200 593758920 -89560815 ARANETA PROP 1.63 1.68 1.63 1.68 1.63 1.68 11000 17980 BELLE CORP 2.01 2.02 2.01 2.02 2 2.01 5810000 11680610 10588599.9996 A BROWN 0.74 0.76 0.78 0.79 0.71 0.76 3503000 2659230 CITYLAND DEVT 0.85 0.86 0.84 0.86 0.84 0.86 25000 21020 CROWN EQUITIES 0.194 0.2 0.194 0.2 0.194 0.2 30000 5880 CEBU HLDG 6.3 6.47 6.4 6.7 6.2 6.7 7700 48070 CEB LANDMASTERS 4.68 4.78 4.82 4.82 4.7 4.78 48000 227600 85960 CENTURY PROP 0.58 0.59 0.59 0.6 0.58 0.58 3149000 1836640 CYBER BAY 0.425 0.43 0.435 0.445 0.43 0.43 1560000 673850 DOUBLEDRAGON 18.86 18.9 19.6 19.6 18.78 18.86 308400 5893428 -509948 DM WENCESLAO 10.26 10.28 10.26 10.28 10.24 10.26 1718000 17626600 17275718 EMPIRE EAST 0.45 0.455 0.455 0.455 0.45 0.45 1930000 869900 EVER GOTESCO 0.121 0.125 0.121 0.121 0.12 0.121 400000 48350 FILINVEST LAND 1.54 1.55 1.55 1.56 1.53 1.54 6388000 9876880 -2622880 GLOBAL ESTATE 1.23 1.24 1.25 1.25 1.23 1.24 610000 754710 8990 HLDG 14.8 14.82 14.84 14.86 14.8 14.82 7338200 108895664 -109650 PHIL INFRADEV 1.31 1.32 1.36 1.37 1.29 1.32 5213000 6890400 622920 MEGAWORLD 4.58 4.61 4.65 4.65 4.56 4.6 12937000 59441170 -13791090 MRC ALLIED 0.216 0.219 0.234 0.234 0.213 0.216 28980000 6527090 58780 PHIL ESTATES 0.395 0.41 0.395 0.395 0.395 0.395 310000 122450 PRIMEX CORP 2.01 2.02 2.02 2.03 2 2.01 650000 1307430 ROBINSONS LAND 25.65 25.7 25.5 25.85 25.25 25.65 1868600 47811060 -17390655 PHIL REALTY 0.355 0.37 0.37 0.37 0.36 0.36 430000 155200 ROCKWELL 2.17 2.18 2.16 2.18 2.16 2.18 25000 54380 STA LUCIA LAND 2.45 2.48 2.45 2.49 2.43 2.48 233000 570260 -73800 SM PRIME HLDG 38.75 39 39.7 39.75 38.45 39 11666600 453785045 -222199845 VISTAMALLS 4.93 5.24 5.2 5.25 4.9 5.25 145100 729631 SUNTRUST HOME 1.51 1.52 1.55 1.57 1.52 1.52 3801000 5842490 VISTA LAND 7.61 7.62 7.61 7.65 7.59 7.62 2484300 18920909 -9201786

SERVICES ABS CBN 17.1 17.2 17.32 17.32 17.1 17.2 79900 1372070 GMA NETWORK 5.26 5.28 5.28 5.31 5.27 5.28 123000 650872 MANILA BULLETIN 0.45 0.46 0.53 0.54 0.45 0.45 4448000 2109700 GLOBE TELECOM 1910 1937 1907 1948 1901 1937 97940 189661010 140090465 PLDT 1091 1098 1100 1107 1085 1098 93070 101904810 -28500355 APOLLO GLOBAL 0.039 0.04 0.039 0.039 0.039 0.039 200000 7800 DFNN INC 5.1 5.58 5.5 5.5 4.8 5.1 249500 1240694 -988240 ISM COMM 4.31 4.32 4.5 4.58 4.28 4.31 2581000 11370000 260100 JACKSTONES 2.05 2.31 2.27 2.27 2.03 2.18 277000 589050 NOW CORP 2.82 2.83 3.08 3.08 2.8 2.82 6751000 19613750 247970 TRANSPACIFIC BR 0.3 0.305 0.305 0.305 0.3 0.3 5260000 1580750 PHILWEB 2.7 2.74 2.8 2.82 2.68 2.74 842000 2283820 -62740 2GO GROUP 9.82 10 10.1 10.1 10 10 2500 25070 ASIAN TERMINALS 18 18.5 18 18.1 18 18 428100 7705900 2734200 CHELSEA 5.91 5.99 6.31 6.46 5.89 5.91 2258700 13794324 -120013 CEBU AIR 91.2 91.4 94.4 94.4 91 91.2 40190 3670347 -2082303.5 INTL CONTAINER 122 122.3 121 125 120.8 122 2556290 311332892 -42647347 LORENZO SHIPPNG 0.91 0.92 0.91 0.91 0.91 0.91 2000 1820 MACROASIA 18.18 18.22 18.58 18.58 18.2 18.22 30800 562852 -358255.9999 METROALLIANCE A 0.99 1.05 1.04 1.05 0.98 1.05 140000 139840 PAL HLDG 7.9 7.95 7.95 8 7.9 7.95 4200 33315 HARBOR STAR 1.33 1.36 1.4 1.4 1.33 1.33 670000 908440 8000 ACESITE HOTEL 1.51 1.52 1.53 1.53 1.52 1.52 139000 212330 -76500 DISCOVERY WORLD 1.96 2.04 1.97 2.04 1.97 2.04 6000 11890 WATERFRONT 0.62 0.63 0.62 0.62 0.62 0.62 1281000 794220 CENTRO ESCOLAR 6.9 7 6.91 6.91 6.9 6.9 6200 42814 9674 IPEOPLE 7.9 8 7.91 7.91 7.9 7.9 2600 20560 STI HLDG 0.67 0.68 0.67 0.68 0.66 0.67 2067000 1384820 -97210 BERJAYA 2.59 2.62 2.62 2.66 2.59 2.59 529000 1376090 BLOOMBERRY 11.08 11.4 10.94 11.4 10.86 11.4 1861900 20831210 3723480 PACIFIC ONLINE 2.55 2.6 2.55 2.55 2.49 2.55 18000 45720 LEISURE AND RES 2.89 2.9 2.98 3 2.9 2.9 1178000 3440100 461620 MANILA JOCKEY 3.4 3.43 3.39 3.4 3.39 3.4 90000 305190 PREMIUM LEISURE 0.62 0.63 0.64 0.66 0.62 0.62 6287000 3959190 -482950 ALLHOME 11.48 11.5 11.64 11.64 11.46 11.5 7912700 91069402 -40823744 METRO RETAIL 2.25 2.26 2.36 2.36 2.25 2.25 1724000 3944940 57790 PUREGOLD 39.5 40 39.9 40 39.5 40 998500 39839080 899955 ROBINSONS RTL 74.8 76.3 75.5 76.3 75 76.3 204390 15591299.5 -15059525.5 PHIL SEVEN CORP 134.1 150 150 150 150 150 40 6000 -6000 SSI GROUP 2.63 2.65 2.75 2.78 2.59 2.64 3869000 10266160 3393320 WILCON DEPOT 17.68 17.78 18.04 18.18 17.68 17.68 916900 16341922 4348067.9994 APC GROUP 0.46 0.47 0.47 0.47 0.46 0.47 2430000 1121500 -9950 EASYCALL 8.83 8.96 8.88 8.88 8.83 8.83 38200 337940 GOLDEN BRIA 416 426 426 426 416 416 170 72310 IPM HLDG 2.41 4.73 3.35 3.35 2.4 2.4 72000 205530 15000 PRMIERE HORIZON 0.41 0.42 0.44 0.45 0.41 0.42 10210000 4365700 -41700 SBS PHIL CORP 8.99 9.15 8.81 9.15 8.81 9.15 5100 46401

MINING & OIL ATOK 10.5 11.1 11.68 11.68 10.5 11.1 26100 289766 APEX MINING 1.08 1.1 1.1 1.11 1.09 1.09 167000 183480 -13320 ABRA MINING 0.0015 0.0016 0.0016 0.0017 0.0016 0.0016 258000000 412900 ATLAS MINING 2.56 2.59 2.56 2.56 2.56 2.56 100000 256000 COAL ASIA HLDG 0.27 0.28 0.275 0.28 0.27 0.27 520000 141750 CENTURY PEAK 2.52 2.53 2.52 2.52 2.51 2.52 269000 676150 -126000 DIZON MINES 7.24 7.5 7.27 7.6 7.24 7.5 3700 27251 FERRONICKEL 1.81 1.84 1.9 1.9 1.81 1.81 7353000 13439960 -6370940 GEOGRACE 0.202 0.209 0.212 0.212 0.203 0.209 180000 36750 LEPANTO A 0.102 0.105 0.103 0.103 0.102 0.102 1250000 128090 MANILA MINING A 0.0086 0.0087 0.0086 0.0086 0.0086 0.0086 6000000 51600 MARCVENTURES 1 1.02 1.02 1.03 1 1.02 1060000 1069590 59590 NIHAO 1.03 1.06 1.07 1.07 1.04 1.06 5000 5280 NICKEL ASIA 3.25 3.26 3.41 3.41 3.22 3.26 7973000 26045740 -10553660 OMICO CORP 0.56 0.58 0.57 0.66 0.54 0.58 4241000 2528220 102840 ORNTL PENINSULA 0.8 0.81 0.82 0.82 0.8 0.81 411000 329230 PX MINING 3.24 3.25 3.28 3.28 3.21 3.25 62000 200950 SEMIRARA MINING 19.76 21.4 21.9 21.95 19.76 19.76 4759800 98841814 -10367050 UNITED PARAGON 0.0056 0.0061 0.0061 0.0061 0.0056 0.0058 29000000 172800 AC ENEXOR 10.38 10.42 10.62 11.16 9.8 10.38 3957700 41050291 -283196 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 200000 2200 PHILODRILL 0.01 0.011 0.012 0.012 0.011 0.011 20600000 227300 PXP ENERGY 11.42 11.48 11.9 11.9 11.42 11.42 751300 8748328 108830

PREFFERED

HOUSE PREF A 97.5 99.7 99.7 99.7 99.7 99.7 80 7976 ALCO PREF C 101.3 103 103 103 103 103 9000 927000 DD PREF 100.2 101 100.1 101 100.1 101 5500 555050 GLO PREF P 505.5 506 506 506 506 506 1870 946220 LR PREF 1.01 1.04 1.02 1.02 1.01 1.01 31000 31410 PNX PREF 3A 101 102.2 101 101 101 101 60 6060 PNX PREF 4 1025 1030 1030 1030 1025 1025 2020 2070600 PCOR PREF 3B 1060 1065 1060 1065 1060 1065 430 456175 SMC PREF 2C 78 78.35 78.35 78.5 78.35 78.35 8010 627588 SMC PREF 2D 75.1 75.5 75.15 75.15 75.15 75.15 10000 751500 SMC PREF 2E 74.95 75.95 76 76 75 75 2250 170870 18870 SMC PREF 2F 76.55 77.4 77 77 77 77 7750 596750 SMC PREF 2G 75.1 75.2 75.15 75.15 75.05 75.1 82210 6174348.5 SMC PREF 2H 75.2 75.45 75.2 75.2 75.2 75.2 8000 601600 SMC PREF 2I 75.2 75.3 75.2 75.2 75.2 75.2 21850 1643120 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.9 5.09

17 5.2

17 5.1

17 5.1

16.9 5.09

16.9 5.09

51600 50000

877060 254502

WARRANTS LR WARRANT

1.4

SMALL & MEDIUM ENTERPRISES PHILAB HLDG - ITALPINAS 4.75 KEPWEALTH 11.54 MAKATI FINANCE 2.47 XURPAS 0.87

1.54

1.45

1.45

1.4

1.4

121000

171890

-

- 4.79 11.6 2.65 0.88

- 4.96 11.82 2.56 0.96

- 4.96 12.16 2.56 0.96

- 4.7 11.52 2.5 0.87

- 4.75 11.6 2.5 0.87

- 674000 747700 45000 18244000

- 3245280 8761116 113720 16272750

211920 8330 174130

EXHANGE TRADE FUNDS FIRST METRO ETF

116.6

659700 -

116.9

118.3

118.3

116.5

116.6

18040

2111691

-

www.businessmirror.com.ph

E-commerce giant Alibaba raises $11 billion in share listing

B

EIJING—The Chinese e-commerce giant Alibaba has raised at least $11 billion in a share offering in Hong Kong, netting the city’s biggest offering since 2010 despite recent political turmoil.

Alibaba on late Wednesday set the price for the secondary share offering at 176 Hong Kong dollars ($22.50) per share. The price is a 2.9-percent discount for the closing price for its shares traded in New York. It’s also below the original maximum offer price of $188 Hong Kong dollars.

The company’s shares are due to begin trading on November 26.

The Hong Kong listing is a rare boost for Hong Kong at a time when the former British colony is embroiled in political unrest.

It’s the biggest share offering for Hong Kong since insurer AIA raised nearly $18 billion in an IPO in 2010.

Alibaba’s IPO in 2014 set a record at $25 billion.

The company’s share code, 9988, is a homonym in Chinese for “eternal prosperity.”

The company already has a significant cash pile of more than $30 billion, but analysts said it’s riding the momentum from recent strong earnings, including the $38.4 billion in “Singles Day” sales on November 11, up 26 percent from a year earlier.

Alibaba and rival JD.com reported combined sales of $70 billion during the annual marketing event that has become the world’s busiest online shopping day.

“The advantage for Alibaba is twofold. It can diversify its shareholder base during the US-China trade war and it can command a high price, in part because investors in Hong Kong are clamoring for something positive amid the protests,” Jasper Lawler of London Capital Group said in a commentary.

If a “greenshoe” overallotment option is exercised, the proceeds from the offering could be up to $12.9 billion.

But that’s well below expectations that initially were for a share offering of up to $20 billion.

The company said it wants to use the proceeds from the share sale for strategies to expand its users, help businesses with “digital transformation, and continue to innovate and invest for the long term.”

Alibaba’s 2014 initial public offering was held in the US due to regulatory limitations that prevented an IPO in Hong Kong.

The company’s chairman and CEO, Daniel Zhang, issued a statement announcing the long-

anticipated listing last week, saying that Alibaba “missed out on Hong Kong with regret” in its 2014 listing.

“During this time of ongoing change, we continue to believe that the future of Hong Kong remains bright. We hope we can contribute, in our small way, and participate in the future of Hong Kong,” Zhang said.

Earlier this month, Alibaba Group Holding Ltd. reported a net profit of 72.54 billion yuan ($10.15 billion) in July to September.

The online retailer posted revenue of 119.02 billion yuan ($16.65 billion) in the period.

Alibaba’s founder, Jack Ma, stepped down as chairman in September. He has stayed on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company’s board of directors.

E-commerce pioneer Ma, 55, is China’s richest entrepreneur with a net worth of $39 billion, according to the Hurun Report, which tracks the country’s wealthy. AP

Meralco sets up its 3rd digital substation in RLC township

T

HE Manila Electric Co. (Meralco) has put up its third digital substation within the premier township development of Robinsons Land Corp.

(RLC) that connects the cities of Pasig and Quezon City.

The utility firm on Thursday inaugurated an integrated and fully automated Gas-Insulated Switchgear (GIS) substation that will energize Bridgetowne. Meralco Senior Vice President and networks Head Ronnie L. Aperocho said the facility’s total project cost will reach P1 billion upon installation of a second transformer.

“The P1-billion cost is the complete cost once we put up the two transformers. For now, since there is only one transformer, the budget is around P550 million to P600 million. Also, we have to put up the lines and there are distribution automation components to be installed,” Aperocho said.

This is the third digital substation put up by the utility firm within its franchise area. The first two are located in Valencia, San Juan, and the Philippine Amusement and Gaming Corp. in Manila. Aperocho said the Valencia digital substation costs

P478 million while the investment to put up the Pagcor digital substation reached “close to P1.2 billion.”

Aperocho said four more are in the pipeline. “For the new substations that we will put up, these will all be digital.”

Lined up for next year are four digital substations to be located in Eton, Centris; Net Park, Taguig, Arca South, Taguig; and in Escoda, Manila.

Aperocho said the budget for the planned Eton substation is estimated at P532 million. For the Net Park substation, the investment could reach P478 million. The Escoda substation, he added, may cost P500 million. He did not say how much the Arca South substation will cost.

“If we can do it all next year, the better, because we really need it in our system. This is a continuous program as the load goes up,” he added.

Aperocho said the Bridgetowne substation will definitely improve dependability and reliability of electricity service in the Bridgetowne community and surrounding growth areas, as it relieves expected critical loading of nearby Hillcrest, Cainta, and SM-Shangri-La substations.

“The new technology utilized is

Semirara Mining files MR at DOE on coal-trading order

S

EMIRARA Mining and Power Corp. (SMPC) said Thursday it filed a motion for reconsideration (MR) with the Department of Energy (DOE) to lift the coal trading suspension imposed on the Consunjiled firm.

“SMPC filed its motion for reconsideration with the DOE yesterday, November 20,” it said in a disclosure to the stock exchange.

The agency earlier ordered the suspension of all mining activities under Coal Operating Contract 5.

Separately, the DOE said the company violated DOE Circular DC2012-05-0006, or the Guidelines on the Accreditation of Coal Traders and Registration of Coal End-Users. It issued a resolution directing the company to suspend coal trading with Gold Anchorage Stevedoring and Arrastre Services for one month. It also imposed a P1.735-million fine against the company.

“We would also like to stress that

the DOE Resolution dated October 15, 2019, is not yet final and executory. Our pending motion temporarily defers the implementation of the coal trading suspension, which would allow SMPC to continue serving its coal customers.

“With respect to the DOE Suspension Order dated November 14, 2019, SMPC is completing the requirements to comply with the conditions stated therein. We intend to reply to the DOE by Friday, November 22, to address their requirements,” the company said.

The company gave assurances that it is focused on complying with all the directives of the DOE so it can resume operations at the soonest possible time.

“Upon receipt of our submitted documents, the DOE shall evaluate our submissions for approval. We estimate that this will take around 15 days. However, this timetable could change depending on the review process of the DOE,” it added. Lenie Lectura

expected to deliver an unprecedented amount of functionality for the benefit of Meralco and its customers,” he added.

He also said that Meralco could convert some of its analog substations into digital ones, depending on

MUTUAL FUNDS

the company’s assessment of its first converted substation. “Our Masinag substation in Antipolo was converted from analog to digital. The retrofitting costs P30 million to P40 million.

We will look at the results, then we can decide.” Lenie Lectura

November 21, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 254.35 3.05% 0.95% -0.84% 0.85% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.4857 9.34% 2.64% -0.28% 3.12% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.8375 0.39% -1.07% -2.54% -1.68% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9123 4.13% N.A. N.A. 1.25% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8612 5.75% N.A. N.A. 4.93% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.3852 4.4% 2.27% -0.38% 2.12% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8643 4.69% -1.6% N.A. 3.3% MBG EQUITY INVESTMENT FUND, INC. -A 110.9 2.22% N.A. N.A. -4.53% PAMI EQUITY INDEX FUND, INC. -A 51.8756 7.54% 3.29% N.A. 5.39% PHILAM STRATEGIC GROWTH FUND, INC. -A 539.32 7.05% 2.07% -0.18% 4.78% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3064 5.76% 2.76% 0.92% 4.18% PHILEQUITY FUND, INC. -A 38.3966 6.72% 3.69% 0.69% 4.82% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,1 1.0289 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.278 8.75% 4.08% 1.72% 6.44% PHILIPPINE STOCK INDEX FUND CORP. -A 881.15 8.72% 3.98% 1.64% 6.36% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.8873 5.36% 1.81% N.A. 3.17% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2639 6.32% 3.31% 0.74% 5.05% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0118 8.32% 3.81% N.A. 6.03% UNITED FUND, INC. -A 3.6975 7.54% 5.08% 2.45% 5.62% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 118.1494 9.09% 4.72% 2.65% 6.68% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9905 4.68% 5.21% 0.04% 6.61% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3401 13.1% 9.49% N.A. 21.25% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5812 -3.37% -2.42% -3.92% -4.24% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2473 3.13% -0.06% -0.84% 1.72% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6424 6.33% 2.29% -1.08% 3.9% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,5 0.2334 N.A. N.A. N.A. N.A. GREPALIFE BALANCED FUND CORPORATION -A 1.3433 4.2% N.A. N.A. 2.99% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9667 7.98% 2.94% 1.08% 6.71% PAMI HORIZON FUND, INC. -A 3.8033 9.54% 2.08% 0.29% 7.76% PHILAM FUND, INC. -A 17.0159 8.75% 2.01% 0.2% 6.97% SOLIDARITAS FUND, INC. -A 2.1452 5.56% 1.91% 0.91% 3.67% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8846 7.41% 3.05% 0.62% 6.39% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,2 1.0194 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,2 1.005 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,2 1.0022 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9834 6.93% 2.44% -0.29% 6.69% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03804 9.85% 2.68% 1.98% 7.76% PAMI ASIA BALANCED FUND, INC. -A $1.0097 7.27% 4.43% 0.5% 10.51% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.8319 10.51% 7.31% 3.54% 15.82% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,7 $1.1145 8.46% 4.44% N.A. 10.9% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 356.33 4.1% 2.68% 2.25% 3.74% ATRAM CORPORATE BOND FUND, INC. -A

1.9264 4% 0.67% -0.36% 3.61% COCOLIFE FIXED INCOME FUND, INC. -A

3.1065 5.13% 5.28% 5.23% 4.38% EKKLESIA MUTUAL FUND INC. -A 2.2147 4.25% 2.21% 1.87% 4.02% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3449 6.42% 2.07% 1.41% 6.34% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6086 3.04% 0.87% -0.19% 2.83% PHILAM BOND FUND, INC. -A 4.3365 12.13% 2.38% 1.54% 10.63% PHILEQUITY PESO BOND FUND, INC. -A 3.7634 8.22% 2.9% 1.49% 7% SOLDIVO BOND FUND, INC. -A 0.9549 7.91% 1.12% N.A. 7.15% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0467 10.68% 4.5% 2.44% 10.16% SUN LIFE PROSPERITY GS FUND, INC. -A

1.6822 10.15% 3.89% 1.87% 9.24% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $466.54 4.44% 2.56% 2.81% 4.05% ALFM EURO BOND FUND, INC. -A Є219.61 3.28% 1.53% 1.39% 3.26% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2027 7.16% 2.86% 2.57% 6.84% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 4.03% 1.46% 1.29% 4.03% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7096 1.32% -0.27% 0.22% 1.15% PAMI GLOBAL BOND FUND, INC -A $1.094 6.74% 1.04% -0.86% 5.57% PHILAM DOLLAR BOND FUND, INC. -A $2.3938 12.04% 3.3% 3.08% 10.27% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0602842 5.95% 2.2% 2.02% 5.76% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1653 10.34% 2.76% 2.65% 10.21% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 125.34 4.21% 2.76% 2.13% 3.69% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,3 1.0273 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2483 6.08% 2.54% 1.59% 5.62% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2605 3.81% 2.85% 2.27% 3.39% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0354 2.11% N.A. N.A. 1.92% FEEDER FUND PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,4 $0.99 N.A. N.A. N.A. N.A. A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS JANUARY 3, 2019. 2 - LAUNCH DATE IS JANUARY 28, 2019. 3 - LAUNCH DATE IS FEBRUARY 1, 2019. 4 - LAUNCH DATE IS AUGUST 1, 2019.

5 - LAUNCH DATE IS SEPTEMBER 28, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

7 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

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

The World BusinessMirror

Friday, November 22, 2019

China’s top negotiator ‘cautiously optimistic’ about reaching trade deal W

B3

TRADE WAR THREATENS TECH SECTORS IN CHINA AND SILICON VALLEY

C

HINA’S chief trade negotiator said at a dinner on Wednesday night that he was “cautiously optimistic” about reaching a phase one deal with the United States, even as talks continue to stretch out amid tensions over Hong Kong and other issues.

Vice Premier Liu He made the comments in a speech in Beijing, according to people who attended the dinner and asked not to be identified. He also explained China’s plans for reforming state enterprises, opening up the financial sector, and enforcing intellectualproperty rights—issues at the core of US demands for change in China’s economic system.

Separately from the speech, he told one of the attendees that he was “confused” about the US demands, but was confident the first phase of an agreement could be completed, nevertheless.

Since President Donald J. Trump announced the phase one deal a month ago, markets have been whipsawed by comments from both sides, first indicating progress, and then the opposite. Just on Wednesday, Trump said China wasn’t “stepping up to the level that I want.”

Asian stocks and American equity futures dropped after the US Congress passed a bill supporting

Hong Kong’s protesters, though moves eased after Bloomberg published news of Liu’s comments.

If efforts to reach a phase one deal fail before December 15, Trump has threatened to impose 15-percent tariffs on some $160 billion in imports from China.

Liu’s comments on Wednesday came before the House voted 4171 for legislation supporting Hong Kong protesters that has already been unanimously approved by the Senate. It could go to Trump as soon as Thursday and he plans to sign the bill, a person familiar with the matter said.

Liu was speaking at a dinner before the New Economy Forum.

The Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.

While the Hong Kong bill is a negative factor for the phase one deal, China still may be able to reach an agreement with the US this year, said Zhang Yansheng,

who previously worked at the National Development and Reform Commission, the country’s top economic planner.

“The optimistic view is that the phase one deal can be reached within this year, and a more pessimistic one is that the first phase will be dragged to some point next year,” said Zhang, who is now chief researcher at the China Center for International Economic Exchanges.

“I think if there are no disruptions such as uncalled-for tweets or remarks, there is the probability of the phase one deal being reached this year.”

Speaking at the forum on Thursday, Vice President Wang Qishan said China would follow through on policy changes despite facing serious challenges at home and aboard. He said the country would continue to let the market play a “decisive role” in the allocation for resources and stick to the path of peaceful development.

“Between war and peace, the Chinese people firmly choose peace. Humanity cherishes peace,” Wang said in the keynote address. “We should abandon the zero-sum thinking and Cold War mentality.”

After almost two years of negotiations and escalations—and plenty of false dawns—trade negotiators from the US and China are making progress in key areas. Some people close to the talks have described them as being in a sensitive, makeor-break stage.

People close to the discussions

insist negotiators so far have been able to avoid having growing areas of friction, like Hong Kong, infect the talks. The looming December tariffs, meanwhile, have become the latest hard deadline—replacing a canceled November 16 and 17 summit in Chile, at which Trump and China’s President Xi Jinping were expected to sign a deal.

The negotiating teams are using their failed May proposal as a benchmark for how much a phase one deal covers of the once-near agreement and how much tariffs will be removed as part of the initial deal.

There’s been signs of a thawing on other fronts. The US Commerce Department has started approving some suppliers’ applications for licenses to do business with China’s Huawei Technologies Co., partially reopening access to one of the biggest buyers of US technology.

While the phase one deal remains uncertain, trade experts say frictions between the world’s two biggest economies will continue regardless of that outcome.

“Tactical shifts may de-escalate tensions in the short term but will not resolve fundamental differences which can no longer be papered over,” said Charlene Barshefsky, who negotiated China’s entry into the World Trade Organization under President Bill Clinton. “We are at an inflection point. No outcome is inevitable but two decades of careful management of the relations between China and the West have run its course.” Bloomberg News

Amnesty International calls Facebook, Google rights abusers

A

MNESTY International issued a scathing indictment of the world’s dominant Internet corporations, arguing in a new report that Google and Facebook should be forced to abandon what it calls their surveillance-based business model because it is “predicated on human-rights abuse.”

The London-based global rights group said in the 60-page report published on Thursday, that the business model of what it calls the “Surveillance Giants” is “inherently incompatible with the right to privacy.” Google and Facebook, likewise, threaten a range of other rights, including freedom of expression and the right to equality, and nondiscrimination, the group said.

The report said their practice of vacuuming up personal data in order to feed voracious advertising businesses represents an unprecedented assault on privacy rights.

It says the companies force people to make a “Faustian bargain” to share their data in order to access Google and Facebook services that have grown to dominate the global public square.

“This ubiquitous surveillance

has undermined the very essence of the right to privacy,” the report said, adding that the companies’

“use of algorithmic systems to create and infer detailed profiles on people interferes with our ability

to shape our own identities within a private sphere.”

Amnesty called on governments to legally guarantee people’s right not to be tracked by advertisers or other third parties. It called current regulations—and the companies’ own privacy-shielding measures—inadequate.

In a written five-page response published with the report, Facebook disagreed with its conclusion that the company’s business practices “are inconsistent with human-rights principles.”

Steve Satterfield, Facebook’s public policy director, also disputed that the social-media behemoth’s business model is “surveillance-based” and noted that users sign up voluntarily for the service, which is nominally free although data collected is used to sell ads.

“A person’s choice to use Facebook’s services, and the way we collect, receive or use data—all clearly disclosed and acknowledged by users—cannot meaningfully be likened to the involuntary [and often unlawful] government surveillance” described in international human rights law, the letter states.

AP

Emirates opts for 30 Boeing 787 Dreamliners in revised deal

D

UBAI, United Arab Emirates—The Middle East’s biggest carrier, the Dubai-based Emirates, announced on Wednesday, a firm order for 30 Boeing 787 Dreamliners in a deal valued at $8.8 billion.

The order, however, does not represent additional spending by Emirates because it replaces a previous agreement with the Chicago-based plane manufacturer at a near trade at list prices, which are negotiated by airlines.

Emirates CEO and Chairman Sheikh Ahmed bin Saeed Al Maktoum said the new order replaces a previous agreement for 150 777x Boeing aircraft. That $56-billion deal had been announced at the 2013 Dubai Airshow.

Instead, Emirates said it is purchasing 126 of the 777x aircraft and 30 of the 787-9 Dreamliners. Combined, the value is also around $56 billion.

Earlier at the air show, Emirates announced it would be buying 20 wide-body Airbus A350s,

bringing its total order for the aircraft to 50 in an agreement worth $16 billion at list price. That deal, however, replaced a $21.4-billion agreement struck in February to purchase 70 Airbus aircraft, which had included 40 of the A330neo.

Overall, Airbus netted around $38 billion in new plane orders at the airshow this week to Boeing’s roughly $17 billion, though not all are firm orders. Around $20 billion of these commercial purchasing announcements were made by low-cost carriers.

The Dubai Airshow, which opened on Sunday, and is the Middle East’s biggest aviation event, has seen the region’s flagship Gulf carriers rein back big-ticket purchases as they face industry headwinds from lower airfreight demand to weakened travel demand in the region. The big Gulf airlines also have multiple existing orders on planes yet to be delivered.

Emirates, which feeds Dubai’s busy international airport, posted significantly lower

earnings of $237 million this past fiscal year compared to the previous year’s whopping $762 million. Meanwhile, Abu Dhabi’s flagship carrier Etihad has posted losses for several consecutive years. Qatar Airways, another major Gulf carrier, is struggling under a blockade imposed on Qatar, by neighboring Gulf Arab states, including the UAE. As major Mideast airlines contend with dips in earnings, US plane manufacturer Boeing faces pressure over its troubled 737-8 Max jet.

Still, Boeing announced 60 orders for the jet this week, signaling a vote of confidence among some airlines for the Max that’s been grounded around the world following crashes that killed 346 people. Boeing said Wednesday an order for 20 came from an unidentified customer.

The crashes, in October of last year and March, raised questions about pilot training requirements and the plane’s new technology, particularly an anti-stall software that pushed

the planes’ noses down.

The crashes also sparked criticism of the US Federal Aviation Administration’s certification process, particularly for new technology on aircraft. Boeing has said it hopes to have the Max certified by the FAA and flying again by January, before other regulators around the world follow suit.

FAA Administrator Steve Dickson told reporters at the airshow Wednesday that the regulator will not be pressured on time.

“As a regulator, there’s certain things that we have to do, but time pressure can’t be one of them,” he said. “We’ve got to make sure that we do everything the right way and do it the complete way.”

He said his message to the FAA work force is to understand “that we need to run every step of the process.” When asked if the plane would be certified by January, Dickson said: “It remains to be seen.” AP

HILE the US-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley.

Leading venture capitalists and start-up founders expressed concern over their governments’ fierce differences and the potential fallout. Among the dangers are a decline in cross-border investment, disruption in the supply chain and decreased collaboration in fields like artificial intelligence, wireless technology and cancer research.

Signs of trouble are emerging in everything from venture capital to moviemaking. Fund-raising for dollar-based venture capital funds in China is down 75 percent, estimates Qiming Venture Partners’ founding partner Gary Rieschel.

Olivia Hao, an executive at Beijing-based film production startup Baozou, said it is increasingly hard to make investments or buy other companies in the US. “Before, people were impressed when we said we had screenwriters from Hollywood,” said Hao on Wednesday on the sidelines of the Bloomberg New Economy Forum in Beijing. “Now people say, why aren’t you using more Chinese creators.”

China and the US are edging closer to a trade deal but the deteriorating situation in Hong Kong, and the US bill on the city’s special status threaten to stall negotiations.

The fight to rule the technology sector is at the heart of China-US tensions. Over the last few decades, the two countries have woven together a world-spanning supply chain that helped create innovation like Apple Inc.’s iPhone and, propel industries like AI and robotics.

American money has flowed into China, lending the capital essential in creating many of the countries’ top technology companies like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. Chinese and American engineers have traversed both countries, driving innovation at start-ups and large companies alike. All of that is under the microscope now that the US is clamping down on Chinese investment in the US and scrutinizing the capital flows between the two countries.

“Foreign capital remains the primary provider of early stage risk capital in China,” Rieschel said, adding that “82 percent of venture

capital goes to the US and China, these two countries have to work together in areas like AI.” Increasingly, American tech companies, venture capitalists and start-ups face a narrow choice on how to deal with China: Either take the country at face value and decide that as a rational business, profits matter more than any kind of moral high ground, or make a conscious decision to stop pursuing business in a country that will require you to adhere to its viewpoints inside— and outside—its borders.

There are signs that Silicon Valley, which long avoided politics and courted a close relationship with China, is now starting to turn.

US venture capital companies and start-ups are refusing Chinese limited partners and investors. There are suspicions around Chinese start-ups in the fields of semiconductors, AI and robotics who want to do business in the US, or try to attract funds from American venture capitalists.

A number of Chinese start-ups also are souring on the view that Silicon Valley is the bastion of innovation.

“Of course it will take years for China to catch up on deep tech like chips, but when it comes to areas like logistics and retail, China is moving much faster,” said Spencer Deng, founder of start-up Dorabot, which is based in Shenzhen, but has offices in Atlanta. “In the last three years, can you name one new innovation that came from Silicon Valley?” he said.

Dorabot is working with companies like Walmart Inc. and United Parcel Service Inc. on automated technology.

China is also taking steps to reduce its dependency in key areas of technology including in chips.

“China’s semiconductor industry is catching up, they will be competitors in the global stage, and it provides a great place for us to invest,” said Neil Shen, managing partner and cofounder of Sequoia Capital China.

The country’s ambition for its semiconductor industry grew in recent years as it spends more on importing chipsets than oil each year. Beijing has injected tens of billions of dollars into its young chip sector to build mega factories and attract top talent as the China attempts to reboot its economy with advanced manufacturing.

Bloomberg News

Oil eases as trade deal outlook offsets falling US stockpiles

O

IL eased after the biggest increase in more than two weeks as investors monitor developments in the US-China trade war, while stockpiles shrink at a key American crude storage hub.

January futures lost 0.3 percent in New York, after rising 3 percent on Wednesday, the biggest increase since November 1.

China’s Vice Premier Liu He said he was “cautiously optimistic” about reaching an initial trade deal even as President Donald J. Trump is expected to sign a bill supporting Hong Kong protesters, a move that could complicate negotiations. US crude inventories at Cushing fell 2.3 million barrels last week, the most since August.

The on-again, off-again trade talks between Beijing and Washington have sapped global demand and weighed on oil prices, and China said the US Senate’s bill supporting the protesters was a “gross interference in Hong Kong affairs.” Supply concerns have reappeared after unrest erupted in Iraq and Iran this month—two of the Middle East’s five biggest producers.

“It looks like the trade talks may hit a snag due to the US Senate passing

a bill supporting Hong Kong protesters,” said Howie Lee, a Singapore-based economist at OverseaChinese Banking Corp. Attention is gradually moving to the Opec+ meeting in December, and turmoil in some member countries may weigh on the outcome, he said.

West Texas Intermediate (WTI) for January delivery lost 17 cents to $56.84 a barrel on the New York Mercantile Exchange as of 7:04 a.m. London time. The December contract, which expired Wednesday, added $1.90 to close at $57.11.

Brent for January settlement fell 18 cents, or 0.3 percent, to $62.22 on the London-based ICE Futures Europe Exchange. The contract climbed $1.49 to $62.40 on Wednesday. The global benchmark crude traded at a $5.39 premium to the WTI. Bloomberg News

B4 Friday, November 22, 2019

Kink Cakes makes it to the nice list this Christmas

Taxpayer services to go digital through Hack-A-Tax

T

HE Bureau of Internal Revenue (BIR) with the support of United States Agency for International Development (USAID) has launched a digital initiative aimed at making it easier for taxpayers and business entities to access and interact with BIR online. BIR’s digital transformation is initiated in part through Hack-A-Tax Philippines which was launched on October 15.

Hack-A-Tax is an innovation challenge that brings talented and skilled IT

professionals, and students across the country to help develop simple, streamlined and serviceable digital tax services for micro and small businesses. The competition aims to design the best software to digitize BIR’s taxpayers’ services that include tax registration, TIN application, tax filing and payments, among others.

Hack-A-Tax formally opened its invitation for interested parties to submit their proposals until November 15, 2019. Details and mechanics can be found at the official

BUREAU OF INTERNAL REVENUE WITH PARTNERS DURING THE LAUNCH OF HACKATAX : Shown in the photo are : BIR Commissioner Caesar Dulay (first row, centre) with (from left) Deputy Commissioner Marissa Cabreros, Deputy Commissioner Arnel Guballa, Deputy Commissioner Lanee David, Deputy Commissioner Celia King. Back row (left to right): Jackie Lou Dela Fuente of USAID/E-PESO, Princess Shimadar Battung of USAID Philippines, Raymond Abrea of Asian Consulting Group, Peachy Vibal - Guioguio of Media.Xchange PR Inc., Vicente Catudio of USAID/E-PESO, Jerome Locson of USAID/E-PESO, Shumate Royo of Developers Connect Philippines, and Winston Damarillo of DevCon

Hackatax website via www.hackatax.ph.

From all submitted proposals, a panel of judges composed of IT and tax experts will review, choose and announce the top 10 entries during the PH Startup Week on November 22, 2019. From November 23 to December this year, Hack-A-Tax finalists will proceed to the app development phase where they will have access to mentors such as BIR resource persons, tax experts, IT developers and industry leaders.

The BIR will then conduct a one-dayboot camp on the third week of January 2020 where experts will mentor them before the day of their actual app or programming presentation to a panel of distinguished jurors. Top three winners will then be selected. Apart from owning, operating, maintaining and monetizing the chosen apps, the winners will also get the following cash prizes: Php100,000.00 for the third placer, Php200,000.00 for the second placer and Php300,000.00 for the first placer.

The mobile apps are expected to be ready for service by February 2020 in time for the April 15, 2020 deadline for the annual individual income tax filing and payments. Hack-A-Tax Philippines is co-organized by DevCon Philippines, Asian Consulting Group (ACG) and media.Xchange PR.

F

OR many Christmas pasts, have you been stuck on that dreaded naughty list?

Maybe you’ve earned that reputation, being so bold with your risqué concepts and ideas. But maybe, those around you don’t really know your sweet and nice side. Which, of course, you do have. Well, this Christmas, all will be revealed.

Very much like Kink Cakes, a company that has earned a level of notoriety because of its adult-oriented cakes. Yet beyond that provocative persona lies a wholesome creativity that caters to the cake wishes of all ages – from kids to those of golden age – with personalized, detailed, and humorous designs.

So, this Christmas, Kink Cakes celebrates being nice with a charming line of cupcakes that will draw joyful smiles from those who will take one look and then

declare: “They look too good to eat!”

By all means, take a picture of that adorable Kink Cakes cupcake, then bite into its delicious goodness. Disguised as a Santa, Santa’s elf, and a snowman, these cupcakes are definitely on the nicest list .

What’s more, they can customize any cake from your imagination to their creation.

Check out Kink Cakes, visit their website: www.kinkcakes.com.ph, FB: kinkcakesph, IG: @kinkcakesph or contact them at Hotlines: 09178651006 & 77442377 You may also visit their outlets at: Kink Cakes Timog - C12 Landsdale Arcade, Timog Ave. QC – 09176343274 & 83724454, Kink Cakes Makati - Berjaya Hotel 7835 Corner Eduque Street, Makati Ave. Makati City 09176344039 & 83986586 & Kink Cakes Commonwealth – Don Antonio Arcade, Holy Spirit Drive QC – 09171106969 & 73585390.

MURRAY IN Sports TOP FORM BusinessMirror

C1

| Friday, November 22, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Tales Azzoni

The Associated Press

M

ADRID—Andy Murray had been in a similar position before, struggling and needing a big comeback to pull off an important victory.

And like he’s done so many times in his career, he again came through with a big rally, this time to lead Britain to a victory over the Netherlands in his return to the Davis Cup. Murray defeated Tallon Griekspoor, 6-7 (7), 6-4, 7-6 (5), on Wednesday after trailing 4-1 in the third set and 4-1 in the decisive tiebreaker, giving his team a 1-0 lead in the Group E series in the new Davis Cup Finals.

“I’ve found a way to win matches many times in my career when I’ve not been playing well,” Murray said. “You can draw on that a little bit. I came up with some really good defensive shots at the end of the tiebreak and found a way to win.”

Novak Djokovic and Rafael Nadal also led their nations to victory, with Serbia defeating Japan and Spain beating defending champion Croatia. The United States failed to advance despite beating Italy 2-1 after a doubles match that ended past 4 a.m. local time in Madrid, the second latest finish in tennis history.

Sam Querrey and Jack Sock defeated Simone Bolelli and Fabio Fognini 7-6 (4), 6-7 (2), 6-4, but it wasn’t enough to send the Americans to the quarterfinals as one of the two-best second-place finishers. Only Lleyton Hewitt’s victory over Marcos Baghdatis at the 2008 Australian Open finished later, past 4:30 a.m. local time.

Murray had not played in the Davis Cup since 2016, when Britain lost to Argentina in the semifinals. In October, the three-time Grand Slam champion won his first title since undergoing hip surgery in January.

“I wasn’t feeling in the best shape coming in, and it showed a little bit in the match,” Murray said. “It is about finding a way to win, and I did that today. And I’m proud of myself because it would have been easy to have lost that.”

Murray acknowledged he is still struggling with his fitness.

“The weight and things like that, that’s my fault,” he said. “I’ve never had that in my career before.... I’ll make sure when I do have breaks, I’m more careful with what I’m eating and, you know, look at that. If you’re weighing 4 or 5 kilos more than you’re used to, that is probably going to affect how you feel moving around the court.”

The Dutch evened the score to 1-1 when Robin Haase beat Daniel Evans 3-6, 7-6 (5), 6-4 in the second singles match, but Jamie Murray and Neal Skupski sealed the victory for Britain by defeating Wesley Koolhof and Jean-Julien Rojer 6-4, 7-6 (6) in the doubles match.

In the revamped Davis Cup format, teams play two singles and a doubles match, with the group winners

advancing to the knockout stage along with the two best second-place finishers in the six groups.

The result eliminated the Netherlands, which lost 2-1 to Kazakhstan on Tuesday.

RECORD TIEBREAKER

M

by defeating Matteo Berrettini 5-7, 7-6 (5), 6-2 to level the series at 1-1 after Fognini had beaten Reilly Opelka 6-4, 6-7 (4), 6-3 to put Italy ahead.

“I’m excited for Taylor,” Fish said.

“That’s one of the biggest wins of his life. I’m just happy to be part of it.”

The American team lost to Canada in its opening series on Tuesday—its first Davis Cup defeat against the North American neighbors. Italy also lost to the Canadians, who won the group and will face Australia in Thursday’s quarterfinal.

The US sent to Madrid its youngest Davis Cup team in a decade, with 22-year-old Fritz and Opelka making their tournament debuts. Fritz was the team’s highest-ranked player at No. 32.

The new Davis Cup is being played in a World Cup-style format with all 18 teams playing in a single venue in the same week, instead of the head-tohead confrontations that used to take place at varied sites over four weekends throughout the year. AP

ARGENTINA routed Chile 3-0 on Tuesday, but lost to Germany by the same score on Wednesday after a doubles match that set the record for the longest Davis Cup tiebreaker.

Philipp Kohlschreiber beat Guido Pella 1-6, 6-3, 6-4 and Jan-Lennard Struff defeated Diego Schwartzman 6-3, 7-6 (8), then Kevin Krawietz and Andreas Mies edged Máximo González and Leonardo Mayer 6-7 (4), 7-6 (2), 7-6 (18) in a match that lasted three hours and 18 minutes.

SPAIN CRUISES

NADAL helped Spain clinch a 3-0 victory over Croatia with a 6-4, 6-3 win over Borna Gojo, securing the hosts first place in Group B and a place in the quarterfinals.

It was the 26th straight Davis Cup singles victory for the top-ranked Nadal, who later got back on the court along with Marcel Granollers for a 6-3, 6-4 doubles victory over Ivan Dodig and Mate Pavic.

Roberto Bautista-Agut earlier had comfortably beaten Nikola Mektic 6-1, 6-3.

Spain opened with a 2-1 come-from-behind win over Russia on Tuesday.

Croatia was eliminated with the loss.

AUSTRALIA ADVANCES

AUSTRALIA defeated Belgium to win Group D and take on Canada, in the tournament’s first quarterfinal on Thursday.

Nick Kyrgios beat Steve Darcis 6-2, 7-6 (9) and Alex de Minaur defeated David Goffin 6-0, 7-6 (4) to give the Australians their second straight victory.

DJOKOVIC LEADS SERBIA WHILE Andy Murray struggled to beat the 179th-ranked Griekspoor, Djokovic cruised to a 6-1,

US eliminated despite victory against Italy ADRID—Not even some late heroics—some very, very late ones—were enough to keep the United States from being eliminated from the Davis Cup Finals on Thursday.

The US failed to advance despite beating Italy 2-1 after a doubles match that ended past 4 a.m. local time in Madrid, the second latest finish in tennis history.

Sam Querrey and Jack Sock won the decisive doubles match 7-6 (4), 6-7 (2), 6-4 against Simone Bolelli and Fabio Fognini, but it wasn’t enough to secure the Americans in the quarterfinals as one of the two-best second-place finishers from the six groups.

Only a big win against Italy, without losing many sets or games, would have been enough to send the US to the knockout stage of the revamped team competition.

With the elimination, the US will equal its longest gap between Davis Cup titles, with its last one coming in 2007.

The doubles match ended 4:04 a.m. in the Spanish capital, the latest finish in US Davis Cup history and second in tennis history behind Lleyton Hewitt’s victory over Marcos Baghdatis at the 2008 Australian Open, which ended past 4:30 a.m. local time.

“I don’t even know where we are, what time it is, what day it is,” US team captain Mardy Fish said. “That was pretty special from these guys, for sure.”

Taylor Fritz had kept the US hopes alive

6-2 win over 73rd-ranked Yoshihito Nishioka, giving Serbia a 2-0 victory over Japan, in Group A. It was the 13th straight Davis Cup singles victory for Djokovic, who broke Nishioka’s serve three times in the first set and twice in the second at the Caja Mágica.

Filip Krajinovic had defeated Yuichi Sugita 6-2, 6-4 in the first match.

The winner of Thursday’s series between Serbia and top-ranked France will guarantee a spot in the quarterfinals.

“It’s probably one of the biggest challenges that we can have in this competition,” said Djokovic, who hadn’t played in the Davis Cup since 2017. “Playing against France, one of the most successful nations in Davis Cup, and definitely one of the strongest teams.”

Japan, which lost to France 2-1 on Tuesday, has no chance of advancing.

ANDY MURRAY (right) pulls through with a big tally, Novak Djokovic (below) cruises past his Japanese opponent and Dominic Thiem scores ones for Austria. AP

Andy, Novak look forward to playing in 2020 Olympics

M

ADRID—Andy Murray and Novak Djokovic have their sights set on playing at the 2020 Tokyo Olympics.

Murray said Wednesday “he would love to compete in Tokyo,” and Djokovic acknowledged the Olympics are “very high on the list of wishes for next year.”

Murray, the two-time Olympic champion in singles and a threetime Grand Slam winner, has been slowly coming back to full speed after undergoing hip surgery in January. In October, he won his first title since his return.

He defeated Tallon Griekspoor 6-7 (7), 6-4, 7-6 (5) on Wednesday in his first Davis Cup match with Britain since 2016.

“I’ve really enjoyed playing in the Olympics,” the 32-year-old Murray said. “I’ve always enjoyed a team environment and competing for my country. Always really enjoyed that. So yeah, I would love to play in Tokyo.”

The Olympic gold medalist in 2012 and 2016, Murray said he hopes to “feel healthy” and that his “body feels good” at the end of next year.

“I’d be delighted with that,” he said. “That’s what I’d like for next year.”

Roger Federer has already

said he plans to play in Tokyo, even though it adds to an already packed calendar. And Djokovic, who helped Serbia beat Japan in the new Davis Cup Finals on Wednesday in Madrid, said the Olympics are also part of his plans for 2020.

“I’m going to try to be healthy, be fit, be prepared to play my best,” he said.

“I played the Tokyo [ATP] tournament, I won it this year. And the Olympic Games are going to be played on the same courts, which are quite good for my style of the game, I think it’s quite suitable.”

The 32-year-old Djokovic said he expects “fun” games in Japan.

“Olympics are always bringing something extraordinary,” he said. “Every four years you get a chance to be part of the most historic sports events in the history of sport. You never get really a chance to, other than in the Olympics, to really sit next to all the elite athletes from their sports and dine with them and just exchange experiences and knowledge and everything. There’s a lot of storytelling, a lot of fun.”

The Olympics is the only top tournament Djokovic hasn’t won in his career. He won the bronze medal in the 2008 Games in Beijing. AP

C2

Spo

Business

Friday, November 22, 2019

NUGGETS TOUGH UP ON HARDEN D

ENVER—Rule No. 1 in defending James Harden: Throw different looks at him.

Rule No. 2: See above.

At least, that was Denver’s highly effective blueprint.

Nikola Jokic had 27 points and 12 rebounds, Denver played smothering defense on Harden and the Nuggets beat Houston, 10595, on Wednesday night to snap the Rockets’ eight-game winning streak.

“You have to have rules against James Harden,” Denver Coach Michael Malone explained. “You can’t play him with your standard defense. Great player defense is required for great players.”

So, the Nuggets tried a little bit of everything to contain Harden, even rolling the 7-foot Jokic out high along with another defender.

The variety of schemes did the trick—as much as it can against Harden. Houston’s star playmaker finished with 27 points, snapping his string of eight consecutive games with 36 or more. He was eight of 16 from the floor as the Rockets were held under 100 points for the first time this season. They were averaging a National Basketball Association (NBA)-best 119.5 per game.

“We were locked in,” said Jokic, whose team

is 7-0 this season when keeping an opponent below 100 points.

Still, Jokic found it funny that his team was being lauded for “stopping” Harden.

“That’s crazy when a guy scores 27 and it’s bad,” Jokic said. “We know he’s going to score. He’s going to be aggressive. Just make it harder and try to be there.... Just to give them different looks.”

It worked—this time.

“They just double-teamed every possession,” Harden said. “They got lucky. They got away with one. We didn’t execute how we needed to.”

The Rockets struggled from three-point range, hitting 12 of 38. They did make at least 10 for a 71st straight game dating to last season.

Russell Westbrook finished with 25 points on eight-of-22 shooting and Clint Capela grabbed 21 rebounds.

“We had open shots,” Westbrook said. “We just didn’t make them.”

Will Barton scored 15 points, while Torrey Craig and Juancho Hernangomez provided boosts off the bench as Denver’s reserves outscored the Rockets’ backups by a 32-21 margin.

One of the key sequences came in the third quarter, when Paul Millsap blocked Harden’s shot and Barton turned it into a dunk on the other end. That energized the Pepsi Center crowd and sent the Nuggets on a pivotal run.

It’s not easy making things difficult for Harden, who’s seen just about every defensive scheme imaginable.

“He’s one of those guys that when you’re watching film it’s like watching a horror movie,” Malone said. “He’s that talented.”

In Los Angeles, Lou Williams scored 27 points, Kawhi Leonard and Paul George combined for 42 points in their first game together for the Clippers, and Los Angeles rallied to edge the Boston Celtics 107-104 in overtime also on Wednesday night.

George scored 25 points. Leonard added 17 and blocked Kemba Walker’s potential tying three-point attempt after injury and rehab had prevented them from playing in the same game over the season’s first 14 games.

The Clippers improved to 9-1 at home after rallying from a 10-point deficit in the fourth.

In overtime, George hit a 3-pointer after he missed his first attempt and Patrick Beverley got the offensive rebound, then George fed Beverley for a three of his own. George’s free throw on a technical foul against Boston Coach Brad Stevens completed seven straight points and the Clippers led 104-99. AP

Koepka withdraws from Presidents Cup, replaced by Fowler

B

NIKOLA JOKIC bottles up James Harden. AP

Horse racing’s major players unite

L

EXINGTON, Kentucky—A group of horse racing organizations has announced the formation of a coalition to promote enhanced safety protections and work together to develop new reforms in a sport roiled by a series of equine deaths.

The Thoroughbred Safety Coalition introduced Tuesday includes Churchill Downs Inc., the New York Racing Association and The Stronach Group, along with Breeders’ Cup Ltd., Del Mar and Keeneland racetracks. Together they represent over 85 percent of major racing in the US. The coalition will adopt best practices and set stricter guidelines for allowable medications, enact standards for whip use, encourage greater transparency and tracking of veterinarian exam

H

ONG KONG—The Hong Kong Open golf tournament has been postponed because of violent unrest in the city.

The tournament was scheduled to be held at Hong Kong Golf Club from November 28 to December 1.

A statement posted on the Hong Kong Open’s web site said the European Tour made the decision to postpone in conjunction with the tournament’s co-sanctioning partner at the Asian Tour, and that an attempt will be made to reschedule it for early next year.

Unrest has gripped the semiautonomous Chinese city for more than five months.

Addressing ongoing safety concerns, European Tour Chief Executive Keith Pelley says “we feel this is the correct, but unfortunate, course of action.” AP

records, and commit to the creation of new positions to implement and enforce these reforms.

Currently, rules and regulations vary among the 38 racing states, and the sport lacks a socalled league office to oversee it.

“Many of us have taken concrete action at our own tracks and are individually working with regulators and lawmakers in our states to enhance safety protocols,”said Kevin Flanery, Churchill Downs president. “The Thoroughbred Safety Coalition will help drive these needed reforms across the nation.”

Bill Thomason, president and CEO of Keeneland in Lexington, Kentucky, said there is no single solution, but the group is committed to “finding the right answers, wherever that may lead us.” AP

ROOKS KOEPKA’S knee injury is bad enough that he withdrew from the Presidents Cup three weeks before it begins.

Koepka, the No. 1 player in the world who led all qualifiers for the American team, said Wednesday the injury he suffered October 18 at the CJ Cup in South Korea is not recovering well enough for him to complete December 12 to 15 at Royal Melbourne in Australia.

US captain Tiger Woods replaced him with Rickie Fowler.

“I consider it to be a high honor to be part of the 2019 team and I regret not being able to compete,” Koepka said in a statement. “Since my injury in Korea, I have been in constant contact with Tiger and assured him that I was making every effort to be 100 percent in time for the Presidents Cup in Australia.

However, I need more time to heal.”

Koepka was coming off a season in which he won three times, including a second straight Professional Golfers Association (PGA) Championship, and had runner-up finishes in the Masters and US Open. When he started the new season in October at Las Vegas, he revealed he had stem cell treatment on his left patella the day after the Tour Championship because his knee had been bothering him over the last five months of the season.

Two weeks later, he was walking down a slope off the tee at the par-5 third hole in the second round of the CJ Cup when his right foot hit a wet piece of concrete and he landed hard on his left knee for support. He shot 75 and withdrew after the round, returning to Florida for treatment.

Koepka has not spoken publicly about the nature of the injury. He was in touch with Woods, who had been contemplating alternative plans.

“Brooks and I talked, and he’s disappointed that he won’t be able to compete,”Woods said. “I told him to get well soon, and that we’re sorry he won’t be with us in Australia. He would clearly be an asset both on the course and in the team room.” AP

HK OPEN POSTPONED

RIOT police speak to protesters during a demonstration in the financial district in Hong Kong. AP

Ex-NBA executive wants to bring MLB to Orlando

O

RLANDO, Florida—The man who helped bring a National Basketball Association (NBA) team to Orlando said Wednesday that he wants to bring a Major League Baseball (MLB) team to the theme park mecca.

Pat Williams, a former executive with the NBA’s Orlando Magic, said that Orlando was more deserving than a half-dozen other cities that have been mentioned as homes to potential MLB expansion teams in the future.

Those markets are Charlotte, North Carolina; Las Vegas; Montreal; Nashville, Tennessee; Portland, Oregon; and Vancouver.

With a population of 2.5 million residents, metro Orlando also gets 75 million tourists each

WHERE’S THE FRENCH?

A man walks past the Tokyo 2020 banners at the Tokyo Metropolitan Government Building on Thursday in Tokyo. The French language has been almost invisible during the drawnout preparations for next year’s Tokyo Olympics. AP

year. In addition to pro basketball, the region has professional men’s and women’s soccer teams.

“Orlando keeps growing and sports needs to be a part of that,”Williams said. “Our résumé here is much stronger than those other markets.”

Williams’s desire may be a pipe dream since Florida already has two MLB teams with anemic attendance. The Miami Marlins and the Tampa Bay Rays, respectively, had the worst and second-to-worst attendance of Major League Baseball’s 30 teams this season.

So Williams on Wednesday offered what may be an appropriate name for the team: the Dreamers. He unveiled a red baseball cap with

a black “O” as the logo, as well as a web site, https://orlandodreamers.com/.

Williams said he’s dipping his toe in the water to gauge interest in Orlando before making concrete plans. Major League Baseball Spokesman Mike Teevan said the league didn’t have an immediate comment Wednesday.

Commissioner Rob Manfred has repeatedly said expansion won’t be considered until the Oakland Athletics and the Rays get new ballparks.

Oakland is working on gaining approval for a waterfront ballpark at Howard Terminal and hopes to break ground by the end of next year. AP

orts

sMirror

Friday, November 22, 2019

C3

Go to Phisgoc: Guarantee transparency, accountability in spending public funds

B

EFORE the Senate approved the 2020 budget of the Philippine Sports Commission (PSC) on Tuesday, Sen. Christopher Lawrence “Bong” Go and House Speaker Alan Peter Cayetano took the opportunity to clear pressing issues related to the hosting of this year’s Southeast Asian Games.

Go said that he will not tolerate corruption in the handling of the 30th Southeast Asian Games, which the Philippines is hosting from November 30 to December 11.

“Kung mayroon man katiwalian sa ating mga sports bodies, ako po mismo, bilang chairman ng Senate committee on Sports, ang mangunguna sa pag-iimbestiga nito,” Go said as he urged those involved in organizing the Games to assure the public of transparency and accountability in spending public funds.

Go earlier argued that he could not respond on behalf of Phisgoc because the body is not within the scope of his mandate as sponsor of the proposed PSC budget for 2020.

However, to address the concerns of

ATENEO Coach Tab Baldwin is making a legacy in Philippine basketball. ROY DOMINGO

TAB’S ON BALDWIN P

his fellow senators, he suggested that it would be proper to address the questions directly to Phisgoc.

“If my colleagues in this chamber insist on asking questions beyond the scope of the PSC budget, then, I think, it would be more prudent to hear answers straight from the horses’ mouth,” he said. “I, too, want to get to the bottom of things based on the rules and in order not to prolong the discussions here at the expense of the budgets of the PSC and other agencies scheduled today.”

“The Phisgoc, as the organizing committee, is in a better position to give accurate information regarding its involvement in the preparation for the Games,” he added.

Cayetano, meanwhile, again justified the national government’s expenditure on the controversial cauldron which will be used for the SEA Games opening ceremony in Clark.

In a press conference on Thursday, Cayetano slammed former President Benigno Aquino III and Senate Minority Leader Franklin Drilon, who reportedly

asked for a P10 billion budget to stage the weeklong 2015 Apec activities.

“What I want to say is that there is hypocrisy here. When the former administration asked Congress for P10 billion to host the Apec, they said it is for the country, for representation,” Cayetano said.

“Everyone thinks P50 million is too much, but the P10 billion isn’t?” he added.

In 2015, Ambassador Marciano Paynor Jr., director general of the Apec 2015 National Organizing Council denied that they spent P10 billion for the event.

“We did not spend P10 billion. P10 billion is the allocation, it’s the budget—a good part of that is for contingencies,” Paynor explained.

Cayetano said that there was no need for President Duterte to answer questions on the P50-million cauldron.

“To tell you the truth, there was no need for President Duterte to mention or answer that, there was no need for that question. Sports is used for politics now even though the election season is still far,” he said. With Jove Moya

Juico predicts minimum haul of 6 athletics golds

By Ramon Rafael Bonilla

B

EST Filipino college coach and best foreign coach in the land? Aldin Ayo of University of Santo Tomas (UST) and Tab Baldwin of Ateneo are.

The Blue Eagles scaled the mountaintop when they clinched their third straight title on Wednesday.

Baldwin put everything on the drawing board, rallying behind the history-making 16-0 sweep of the season for a total of 26-game run from last year.

The American-Kiwi coach put together the foundation of the three-peat winning squad, and he might be on the lead when Ateneo attempts to duplicate—or even surpass—the five titles Norman Black won with the likes of Greg Slaughter, Kiefer Ravena and Nico Salva.

Despite the loss to the Blue Eagles, Ayo considers the stewardship of Baldwin as beneficial to the local basketball community.

“Coach Tab...a lot of coaches are learning from him,” Ayo said after their 79-86 loss in Game Two of the UAAP Finals on Wednesday. “[I learned his] approach on the game. The x’s and o’s. Every time you compete [against him], you can see how he handles the game, and then the learning goes from it,” Ayo said.

Head-to-head in the Finals, Baldwin has the upperhand—2-1.

They first met in the championship series

when the Ayo-coached De La Salle beat Ateneo in Season 79.

The Blue Eagles earned another shot the following year, and exacted payback against the Green Archers to even the score for Baldwin.

This Finals served as the tiebreaker, with Baldwin sweeping Ayo and the Growling Tigers in two games.

“I think that, to be honest, our respect as coaches for another is there. What kind of fool would I be if I didn’t respect what he puts on the court. It’s really outstanding, the way his team plays,” Baldwin said.

Ayo, meanwhile, still finds a gem in the rubble after getting tossed in two.

“We tried our best but it just wasn’t enough,” Ayo said. “They [Ateneo] really played well. Hats off to them.”

Unlike in Game One where the Katipunan dribbles manhandled UST from tip-off, the second match was a different show as Ayo’s Tigers displayed character and poise that were missing in the series opener.

Yet, the resistance got doomed when the Blue Eagles—led by the three-time Finals Most Valuable Player Thirdy Ravena—slapped the Tigers with a dose of reality that the throne solely belongs to the boys in blue.

For Ayo, who is in his second year in España following his transfer from De La Salle, saw nothing but lessons to take home.

“Ito ‘yung sakit na for sure na matututo kami.

Next season, madadala namin ‘yung experience namin this season, especially sa nine rookies namin,” the mentor said.

Renzo Subido and Zach Huang bid goodbye to their collegiate careers, but UST remains as dangerous with Most Valuable Player Soulemane Chabi Yo and Rookie of the Year Mark Nonoy still holding the mantle for the Tigers next year.

Ayo also considers the season as a big jump from their performance in Season 81 where they ended up in sixth place.

“Well, I can say yes [improvement from past programs]. We always want to improve eh. Last year, we ended up sixth. This year, we made it to the Finals.

Our mind-set is, even if we made it here, madami pa kaming kulang at dapat trabahuin. We’ll make sure na ’yung experience namin, matututo kami,” he said.

UST finished the eliminations in fourth spot with an 8-6 wonloss record. The squad hurdled knockout games against Far Eastern University and University of the Philippines, before challenging giant Ateneo.

Magnaye, Morada pierce quarterfinals

T

BIG WINNER Arianne Gayle Fernandez (second from left) from Lapu-Lapu

City tops the recent Iron Kids Philippines—her memorable triumph made sweeter as she rode the Xyclone Mantis MTB bike with 20-inch wheels from Xyclone Bikes, a local bike manufacturer. Also in photo are (from left) Fernandez’s mother Julmalyn Fernandez and Xyclone Bikes’ Bong Rivera and Marvin Que.

HE 30th Southeast Asian Gamesbound pair of Ariel Magnaye and Alvin Morada continued their impressive run by reaching the men’s doubles quarterfinals of the Smart National Badminton Open on Wednesday at the Muntinlupa Sports Complex.

The two former National University standouts needed just 28 minutes to oust Keoni Asuncion and Carlo Remo, 21-16, 21-10.

The top-seeded pair will face the fifth-seeded JC Clarito and Jyason Oba-ob in the last eight on Thursday.

In men’s singles, No. 2 Rose Pedrosa and Lyrden Laborte advanced deeper into the tournament—Pedrosa swept David Linaban at 21-10, 21-14, while Laborte dominated Christian Tortoles at 21-13, 21-12.

Sarah Barredo and Jochelle Alvarez also move to the women’s singles quarterfinals after taking down Samantha Ramos and Trisha Ponce, respectively.

Barredo waylaid Ramos 21-15, 25-11, and Alvarez crushed Ponce, 21-16, 21-9.

’Takbo Para sa Kalikasan‘ to raise awareness on global warming

T

AKBO Para sa Kalikasan holds its 4th element run of the four elements representing fire, water, air and Earth.

Organized by Green Media Events, the yearlong benefit run series aims to urge the public to partake in environmental conservation amid the drastic impacts of global warming.

Earth Run 2019 is set on November 24 (Sunday) to be held at CCP Complex, Pasay City. There are four (4) categories to choose from: 3K, 5K, 10K and 25K. All finishers will get a finisher medal and a loot bag from our generous sponsors, while the 10K and 25K runners will get a finisher shirt.

Thousands of runners, running groups and environmental

advocates participated in Fire Run 2019 (Leg 1) May 5,Water Run 2019 (Leg 2) and September 15, Air Run (Leg 3). Runners are encouraged to be more proactive and participate in the plogging activity (eco-friendly workout).

Portion of this year’s run proceeds goes to the Haribon Foundation, the country’s pioneer environmental group focused on conserving and protecting biodiversity from ridge to reef. According to Haribon, not only is global warming killing a lot of our plant and animal species, it remains to threaten our survival affecting the food that we eat, water we drink, air we breathe and the weather we experience.

HILIPPINE Athletics Track and Field Association President Philip Juico knows he has six athletes capable of winning gold medals in the 30th Southeast Asian Games.

But he also challenged his possible silver medalists to go for gold and leave it all on the track and field.

“Ang sabi namin sa kanila [possible silver medalists], you guys who are capable of silver, go for it. Try your best to win the gold,” Juico said.

Juico sees a gold-silver-haul of 6-10-8

in the athletics’ competitions of the biennial meet set from December 5 to 10, at the 20,000-seat New Clark City Athletics’ Stadium inside the sprawling 9,500-hectare New Clark City, in Capas, Tarlac.

“Sa triple jump, it’s Harry Diones. He has been a little inconsistent, kaya lang tumataas ang ranking niya. From silver, puwedeng mag-gold iyan,” Juico said. “In decathlon, it’s Aries Toledo, who won gold in Kuala Lumpur. Probably good for a silver, pero puwede rin mag-gold.”

Projections are quite conservative on

reigning marathon champion Mary Joy Tabal because of two runners from Thailand “breathing down her neck.”

“It [gold count] could be anywhere between six to 12 golds. That’s [12] the most optimistic,” Juico said.

The Filipino bets who are best-equipped to win gold medals are pole vaulters Ernest John Obiena and Natalie Uy, 800-meter specialist Carter Lilly, hurdles champion Eric Cray, sprinter Kristina Knott and new recruit, shot putter William Morrison.

REFEREE Paolo Silvio Mazzoleni (center) checks the VAR during a Serie A match between AC Milan and Juventus in November last year at Milan’s San Siro Stadium. AP

C4

GETTING ADDICTED TO VAR R

By Andrew Dampf The Associated Press

OME—A recent modification by soccer’s rule-making panel is the culprit behind a significant increase in VAR dependence—and controversy—in Serie A this season, according to Italy’s refereeing director.

Nicola Rizzoli, who officiated the 2014 World Cup final and now handles the Italian league’s refereeing appointments and technical matters, said at a heated meeting among Serie A stakeholders that constant checks for involuntary handballs is putting too much strain on the video review system.

In 119 Serie A matches through 12 rounds this season there have been 790 incidents checked by the VAR, which translates to 6.6 checks per match. That’s up from 657 checks and 5.4 per match at this point last season.

Perhaps, more alarming is that the instances in which VAR has corrected a referee’s decision on the field have doubled from last season—from 24 to 48.

“It means we’re not refereeing well,” Rizzoli said. “But also that the rules have changed.”

At Tuesday’s refereeing summit attended by all 20 Serie A clubs, Napoli Coach Carlo Ancelotti said VAR dependence was spiraling out of control.

“Who is refereeing the games?” Ancelotti said. “At times I get the impression that some games are being decided by the VAR.” While Rizzoli replied to Ancelotti by saying that “the referee is always at the center of the decision-making process,” the new rules mean that referees no longer have to consider intent on handballs. But nearly any sort of touching above the shoulders or by making the body “unnaturally bigger” is a foul.

Juventus defender Matthijs de Ligt has been at the center of the controversy.

The Netherlands international conceded penalties to Inter Milan and Lecce with handballs this season but appeared to get

away with another handball during a derby with Torino.

Rizzoli used a slide of Leonardo da Vinci’s Vitruvian Man drawing to illustrate the complexities of the rule.

“The handball is one of the most challenging situations the referees have to judge,” Rizzoli told The Associated Press after the meeting, adding that the IFAB rules panel should consider “adjustments” after this season.

“The intention of the player, the touch with the arm, the position of the arm—everything. And the dynamic also of the situation,” Rizzoli added. “We have to think [about] a lot of things.”

The increase in VAR checks have resulted in an increase in angry player protests.

Rizzoli appealed to teams to curtail the protests and reminded them to make sure only the captain addresses the referee.

“If the captain comes we are obliged to offer an explanation,” Rizzoli said. “Everything we can do better in terms of communication with the captain instead of a lot of players that surround the referee.

“The rulers of the game have to think about giving more power to the captain in terms of collaboration with the referee.”

The Italian soccer federation is building a VAR control center at its Coverciano training center in Florence, from which all matches can be handled starting next season.

The central VAR room—as opposed to the current system of trucks parked outside of stadiums—would enable refereeing heads to meet with media immediately after games to explain their choices.

“It’s like a university for the referees,” Rizzoli said. “This is the future, because after that we can speak with the media immediately, we can teach the referee and have an immediate feedback altogether. So this is something that can improve the technique of VAR.” Fifa used a VAR center at the 2018 World Cup and the Premier League has followed suit with its introduction of VAR this season.

Back in Premier League action after his red card was

overturned, Son Heung-min scored for Tottenham but that wasn’t enough to defeat Sheffield United as the two teams shared a 1-1 draw on Saturday.

Beating Red Star Belgrade in the Champions League on Wednesday had given Tottenham hope of registering first back-to-back wins since April. However, Sheffield was superior for long periods of the game, though frustrated by a contentious decision from the video assistant referee system.

Tottenham Manager Mauricio Pochettino responded to speculation about his future, saying he wasn’t sure if he’d get the chance to shape the team back into a winning side.

“We are building a team during the season, while competing in the Champions League and Premier League, the toughest league in the world, and always that is dangerous, this type of situation can happen,” he said.

“You expect better results than you get. Of course, we are in a process to build and we’ll see if we have time to build what we want.”

After a first half when Sheffield had the better chances, including John Lundstram hitting the post, Tottenham took the lead in the 58th when Son seized on a poor pass by Enda Stevens.

The Korean was facing a league suspension after a red card last weekend for a challenge which led to a serious injury for Everton’s Andre Gomes, but was free to play when the dismissal was rescinded.

Sheffield responded 90 seconds later when David McGoldrick scored from a cross by Stevens, but a lengthy VAR review showed Lundstram narrowly offside in the buildup.

Baldock netted for Sheffield in the 78th after his cross eluded everyone to go in at the far post, though he had to wait for another VAR review.

Tottenham was booed off at the final whistle as the team continued its inconsistent form and remained in the bottom half of the table, while fifth-place Sheffield continued its strong start to the campaign.

UEFA investigates claim of racial abuse in Romania match

N

YON, Switzerland—UEFA has called for further investigations into allegations by a Sweden player he was racially abused by Romania fans at a European Championship qualifying game.

After Alexander Isak reported his claim to the match referee last Friday, play in Sweden’s 2-0 win was briefly stopped to broadcast a warning to fans in Bucharest. The stadium will host four Euro 2020 games in June.

UEFA says it opened a disciplinary investigation, and also charged Romania’s soccer federation for separate incidents of an alleged “illicit banner” and “illicit chants.” Those charges will be judged on December 12.

Romania faces more severe UEFA action because it was already under one year’s probation for previous incidents of offensive fan behavior.

Only accompanied children were allowed to attend Romania’s home qualifier against Norway last month.

The next UEFA punishment could affect Romania’s next game in the Euro 2020 playoffs round in March.

Chelsea, meanwhile, can expect a verdict within three weeks in its appeal to overturn a Fifa transfer ban for breaking youth transfer rules.

The Court of Arbitration for Sport said after a hearing Wednesday its ruling is expected in the first half of December.

The monthlong trading window for English clubs opens

January 1. Chelsea already served half its one-year ban on registering new players during the offseason.

Chelsea is challenging verdicts by Fifa’s disciplinary and appeal committees that the club had 150 violations of rules protecting minors from trafficking. Those cases involved about 70 players.

Chelsea also broke rules prohibiting third-party influence on players. Fifa imposed a fine of 600,000 Swiss francs ($608,000).

The club has denied wrongdoing.

The timeline of this transfer of minors’ case is similar to Barcelona’s appeal in 2014 when CAS upheld a transfer ban on December 30, almost four weeks after a hearing. AP

REFEREE Daniele Orsato stops the match following alleged racist chants against Sweden’s Alexander Isak during a Euro 2020 Group F qualifying match between Romania and Sweden in Bucharest. AP

Sports

| Friday, November 22, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BusinessMirror

Pakistan loses income, players in international absence

S

YDNEY—A top Pakistan Cricket Board (PCB) official says his country has lost serious income and a generation of players because it couldn’t host a test match at home for a decade.

“We’ve probably lost part of a generation [of potential cricketers]

because they’ve not been able to grow up watching their heroes,” PCB Chief Executive Wasim Khan told the Australian Associated Press. “We want players to be playing at home so our kids can be inspired to want to become cricketers, take up the game, like any other country.”

Pakistan last hosted a test match in March 2009, when a terrorist attack on the Sri Lanka team’s bus at Lahore left eight people dead and injured several Sri Lankan players.

Incoming tours were canceled amid security concerns, and Pakistan lost it rights as a co-host of the 2011 Cricket World Cup. Since 2009, the United Arab Emirates has been Pakistan’s primary home away from home, but Khan said it cost the cricket board heavily to host teams at a neutral venue.

“It’s difficult to put a figure on it but it would probably run into a few hundred million [dollars],” Khan told AAP in Australia, where Pakistan will play a two-test series starting Thursday in Brisbane. “We’ve had to play in the UAE and it costs us huge amounts of money.... I don’t think we can financially sustain ourselves if cricket keeps getting played in other areas.”

The PCB has long been seeking to regain the confidence of foreign teams that it’s safe to play in Pakistan.

Foreign players have visited Pakistan and played in the Pakistan Super League matches at Lahore and Karachi for the last three years.

Zimbabwe, West Indies, a World XI and Sri Lanka have also visited for limited-overs series in recent seasons and now Pakistan is set to host Sri Lanka at Rawalpindi and Karachi for the two test matches next month.

Khan said for the last two to three years there have been no terrorism incidents in any major city of Pakistan.

“Terrorism is a scourge for everybody and we’ve probably lost more people to terrorism in Pakistan than any other country, but I firmly believe that all those things are behind us now,” he said. “There’s a perception in the outside world which is not a reality of what’s going on in Pakistan.”

Australia has not toured Pakistan since 1998 but Khan hoped to organize a series at home within three years. Australians Tim Paine, Ben Cutting and George Bailey played with the World XI team for three Twenty20s matches at Lahore in 2017.

“We know it all comes down to the players,” Khan said. “Players have to feel confident. They have to feel comfortable in the environment they’re coming into.” AP PAKISTAN’S Shaan Masood plays a shot during a test match between Australia and Pakistan in Brisbane on Thursday. AP

D

Triune God

EAR God, You desire to make Your home in us and give us hope. With longing we pray: Grant us Your peace, oh God. Animate Church and civil officials to put aside differences and collaborate for the common good. Remove the chains of fear, anger and hatred that divide people from one another. Open the gates of eternal life to those who have died. May the peace of Christ reign in our hearts and minds, now and always. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

SOMETHING LIKE LIFE: TRADITIONAL CHINESE CUISINE IN A WARM, MODERN SETTING D3

Friday, November 22, 2019

D1

NETFLIX’S ‘THE CROWN’

TIMES ARE CHANGING, ROYALTY OR NOT ACADEMY Awardwinning actress Olivia Colman portrays Queen Elizabeth II in a scene from the third season of The Crown, which is now streaming on Netflix.

L

BY LYNN ELBER The Associated Press

OS ANGELES—The Crown opens with a clever acknowledgment that time has passed for Queen Elizabeth II and taken with it the Emmy-winning actress who played her in the Netflix drama’s first two seasons.

In the scene, postage stamp portraits are displayed for the monarch: one with Claire Foy’s likeness as the alluring young queen, the other showing a woman edging toward middle-age mundanity. A subordinate clumsily tries to gloss over the physical differences, but Elizabeth, now embodied by Olivia Colman, will have none of it.

“One just has to get on with it,” she says, tartly, advice for herself and the audience that will meet other series newcomers, including Helena Bonham Carter as Princess Margaret and Tobias Menzies as royal spouse Prince Philip, when the 10-episode third season is released Sunday. (The new season is now streaming on Net�lix.—Ed.) Josh O’Connor and Erin

Doherty join the cast as Charles and Anne, the grown offspring of Elizabeth and Philip.

Peter Morgan, the series’ creator and writer, said transparency was the proper approach.

“I thought, let’s just get it out in the open. It’s always best to, as it were, be honest and direct about it: We’re changing cast. This is the new one,” he said in a phone interview from London this week, with production for next season’s episodes in progress.

There’s change as well in swinging 1960s Britain, where this season of The Crown begins with the Labour Party narrowly winning power and Harold Wilson (Jason Watkins) installed as prime minister.

Cold War rumors that Wilson is a Soviet spy are feverishly circulating, a reminder that the spread of dubious information predates the Internet.

When the allegation reaches the queen via Philip, she sensibly asks the source. His nonchalant reply: “Friends at the club.”

Current events echo elsewhere in The Crown, including frustration over economic disparity that exposes the monarchy’s expensive upkeep

to criticism, and fraying international relations, particularly between Britain and the United States under President Lyndon B. Johnson (the explanation offered: Johnson is peeved over Wilson’s refusal to support his Vietnam policy). The season ends in the late 1970s.

Morgan said he wasn’t “engineering” parallels between then and now, but realistically depicting a “country really at its own throat” during that period.

“You have the left and the right screaming at each other, and not hearing and not listening to one another,” Morgan said. “In a funny way, it was reassuring because what the show has continually reminded me of, again and again and again, is that crisis is the default position rather than harmony. But we project a harmony into the past.”

The series artfully weaves together the political and personal. There’s a tender scene in which Elizabeth visits a frail Winston Churchill (John Lithgow, who won a 2017 Emmy for the role), a wrenching disaster that tests the queen’s capacity to serve as comforter in chief, and a national

economic crisis that gives second-fiddle Margaret a chance to shine.

Morgan is an esteemed chronicler of authority and privilege, earning Academy Award screenwriting nominations for Frost/Nixon, about journalist David Frost’s TV interviews with former US President Richard Nixon, and The Queen, featuring Helen Mirren’s Oscar-winning performance as the monarch grappling with the repercussions of Princess Diana’s death. In 2017, Morgan earned the British Film Institute’s highest honor, the BFI Fellowship.

Ben Caron, an executive producer and director for The Crown, called Morgan’s writing “the very best of the best.”

“But the edit is when Peter’s innate understanding of his own material comes into play. He is brutal with his own work—cutting out whole scenes, speeches, moments—in order to refine, refine, refine,” Caron said in an e-mail. “It’s a writer’s instinct as much as a filmmaker’s, this whole idea of, ‘Why use 10 words

CONTINUED ON D4

D2

Society BusinessMirror

Friday, November 22, 2019

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Scarlett Johansson, 35; Mark Ruffalo, 52; Jamie Lee Curtis, 61; Steve van Zandt, 69.

FROM left: Graham FitzGerald, chief executive officer of HSBC Philippines; Jun Magsaysay, Paco Magsaysay, Cheryl Tiu, Bea Dee, Eric Dee and Peter Faulhaber, head of Retail Banking and Wealth Management for HSBC Philippines

ANYA CAJUCOM, senior vice president, head of Marketing Retail Bank and Wealth Management for HSBC Philippines

HAPPY BIRTHDAY: Keep your life simple, moderate and sincere. If you exaggerate, you will be held accountable. This is a year of change but also one that could cost you physically or financially if you aren’t careful. Persuasive tactics may work to help you get your way, but don’t expect to get anything for free. The payback will be greater than anticipated. Your lucky numbers are 4, 17, 20, 28, 35, 42, 46.

a

ARIES (March 21-April 19): Keep track of your money. Unnecessary purchases will add up quickly. A responsible attitude regarding your personal documents and keeping things updated will ensure you don’t have any problems come tax time.

Love and romance are highlighted. HHH

b

TAURUS (April 20-May 20): Finish what you start, regardless of setbacks. Staying on top of your responsibilities will help you avoid a run-in with someone counting on you to do your part. HHH

c

GEMINI (May 21-June 20): While looking for opportunities, don’t get saddled with someone’s problems or projects. The best way to get ahead is to do whatever it takes to promote yourself, your skills and your ideas, not working to promote the interests of others. HHH PAUL SYJUCO (from left), Candy Dizon, Walter McCaffrey and Janina Dizon

QUEZON Avenue Branch Head Dennis Dy with Melinda and Ferdinand Manto

Premier experience gets a refresh T RUE to its brand promise of providing personalized and specialized products and services, HSBC recently introduced a refreshed HSBC Premier (www.hsbc.com.ph/ premier), the premium personal banking service with exclusive benefits designed for you and those who matter to you.

Dubbed as “Family Matters,” the gathering gave an elegant experience for the guests while walking them through the HSBC Premier journey which showcased the needs of families, for now and the future, around the three things that matter most to them: safety and protection, wealth and international connectivity.

Guests enjoyed especially crafted themed cocktails like “Gold Rush,” an infusion of Maker’s Mark, mint, lime and gold dust; “One For The Road,” which had pea tea infused gin, maraschino liqueur and lemon; and “On Guard,” which was a mocktail blend of lychee, raspberry and lemon.

They also feasted on unique dishes prepared

by Peninsula Manila’s talented team headed by Executive Chef Richard Glaze, beginning with a safety box filled with appetizers like Iberico pork sisig croquetas, garlic aioli foie gras with coconut and charred abaca pineapple, green pea and black truffle tartlet, and Norwegian Salmon Gravlax with

FROM left: GSMI General Manager Emmanuel Macalalag, Sanya Lopez, GSMI National Marketing Manager Ronald Molina, and GSMI National Sales and Marketing Manager Allan Mercado

CANCER (June 21-July 22): Look at partnerships carefully. If you think both parties will benefit, great, but if not, be prepared to walk away. Do a background check; honesty may be an issue. Do your best to build up strength and endurance. HHHH

e

LEO (July 23-Aug. 22): Don’t let the little things get to you. Socialize with people who motivate you to be your best. Monitor those who have bad habits and who try to coax you to join in.

HH

citrus, wasabi cream and pickled radish.

Guests were serenaded by The Muses who sang timeless classics “I Want to Hold Your Hand”

by The Beatles, “I’ll Be Seeing You” by Billie Holiday, “Greatest Love of All” by Whitney Houston, “Celebration” by Kool & The Gang and “We Are Family” by Sister Sledge. Each detail and experience showcased the three areas that matters most to families.

With HSBC Premier’s wide range of financial products, you have the power to give your successors the tools and advantage they need to take things to the next level. n

f

VIRGO (Aug. 23-Sept. 22): Participate in trade shows, courses or meetings that will broaden your sense of awareness and give you a better understanding of what’s possible. Refuse to let a personal problem you are dealing with stifle your chance to learn something new. HHHHH

g

LIBRA (Sept. 23-Oct. 22): Short trips, getting together with old friends or colleagues or just taking a moment to gather your thoughts and formulate new plans will do you good. HHH

h

SCORPIO (Oct. 23-Nov. 21): Put more effort into emotional relationships.

Take time to listen to problems, nurture connections and protect against love loss. Don’t evade issues or mislead someone about the way you really feel. Honesty is the best policy. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Anger will mount if someone misleads you. Don’t engage in a battle you cannot finish or win.

You should do your best to nurture partnerships, not disrupt them. Put your time and energy into something constructive that will help you get ahead. HHH

2020 Calendar Girl revealed IT’S that time of the year, of course, when the tree, the tinsel and all the twinkling lights are retrieved from storage to give homes that holiday sparkle.

It’s also that time of the year when Ginebra San Miguel (www.ginebra.com. ph) reveals its new Calendar Girl, and for 2020 it is the lovely GMA actress/ TV host Sanya Lopez. The festive media launch held recently at Novotel Manila Araneta City in Quezon City revealed Sanya as “The Island Girl.”

The Ginebra San Miguel Calendar Girl promotion started in 1988. Since then, the special merchandise has become a sought-after item among consumers year after year.

“For 2020 we chose Sanya Lopez as our brand ambassador because she embodies what Ginebra San Miguel

d

represents—courage, resiliency, optimism and never-say-die spirit.

Sanya is truly ‘ganado sa buhay’ as she worked her way up to become one of the most recognizable faces in the entertainment industry today,” says Ginebra San Miguel Inc. (GSMI) National Marketing Manager Ronald Molina.

GSMI General Manager Emmanuel Macalalag, National Sales and Marketing Manager Allan Mercado and Molina formally welcomed Sanya Lopez in a grand toast during the launch, which featured her own Ginebra San Miguel cocktail called “Sanya’s Island Mix,” a concoction of pineapple, buko juice and gin.

Celebrating its 185th anniversary, GSMI has released four calendar layouts representing its array of

j

CAPRICORN (Dec. 22-Jan. 19): Spend more time on domestic issues. Make changes at home that will improve your life and personal relationships. Your effort won’t go unnoticed and will ward off someone’s complaints. HHHHH

k

AQUARIUS (Jan. 20-Feb. 18): Finish what you start, and positive changes will come your way. Taking on a job that requires your full attention will also end up lining your pockets with extra cash. A personal gain will change your life.

Romance is encouraged. HH

products, including the flagship brand Ginebra San Miguel, GSM Blue, Primera Light Brandy and VisMin’s No. 1 Chinese wine Vino Kulafu.

As Ginebra San Miguel’s “Island Girl,” Sanya will be joining the “Ginuman Fest” tour, the gin brand’s annual series of music festivals that brings together gin lovers around the

country as One Ginebra Nation.

Ginebra San Miguel is a 14-time Gold Quality Label awardee of the Monde Selection International Quality Institute, the world’s most prestigious body that recognizes the highest standards of taste and quality in the food and beverages industry.

l

PISCES (Feb. 19-March 20): Stick close to home, and don’t let important personal documents lapse. Keeping everything in order will help you avoid getting into trouble with authorities. Look to someone you know you can trust for good advice. A reunion will be informative. HHHH BIRTHDAY BABY: You are generous, entertaining and influential.

You are impressive and energetic.

‘covering all one’s bases’ BY SEAN GRIFFITH AND JEFF CHEN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Old West bud 5 Hemsworth of Isn’t It Romantic 9 Despicable dudes 13 Has left for lunch, say 15 Boo-boo 16 Andy’s boy 17 “Right now!”

19 Taken by mouth 20 Presentation from Jane Goodall or Julia Sweeney 21 Outlet for whistle-blowers 23 Light beam splitter 25 Takes a spin class 26 Heroes : rolls :: gyros : ___ 29 More, in Mexico 31 Clumsy sorts 32 President Quincy Adams 33 Twice-baked Italian cookies 35 Fashion designer Anna 36 Hurler at the center of this puzzle’s theme 37 Stole a base, e.g.

40 Judge of movies?

42 Capital of Norway

3 On the razor’s ___ 4 44 Sault ___ Marie 45 Makeup of the web 46 Interior designs 48 Wee 50 Invisible Man author 52 “Same here” 56 Hoppy brews, briefly 57 What one might say after a long vacation 59 Essence 60 Common mirror shape 61 Water collection pits 62 Loch in many questionable photos 63 Makes leather 64 Wee DOWN 1 College west of Penn 2 Activist and athlete Arthur 3 Doping scandal substance, informally 4 Bunny collector?

5 Key figures?

6 ___ Jima 7 “___ Misbehavin’” (stride jazz classic)

8 Battlefield healer 9 One who’s with it 10 Day for many pranks 11 Keaton and Sawyer 12 Tennis great Monica 14 Former Russian autocrats 18 Yalie 22 Tchaikovsky who wrote “1812 Overture” 24 Geico Gecko and LiMu Emu 26 Comfy nightwear 27 Promise to repay, for short 28 Low-grade 30 Yiddish chumps 33 Container for recyclables 34 Ref. that added “xoxo” in 2019 36 Sights at a boardwalk 38 It has a head and is heady 39 Turndowns 41 Self-centered ones 42 Crude surplus 43 British fish dish 45 Blinds strips 46 Lower oneself 47 Not ___ (far from ideal)

9 Lovelace of early computing 4 51 Suddenly bright star 53 2019 Best Actor winner Malek 54 WNBA game channel 55 Online crafts seller 58 Fellow

Solution to yesterday’s puzzle:

Relationships BusinessMirror

www.businessmirror.com.ph

Friday, November 22, 2019

D3

CLOCKWISE: Executive Chinese Chef Chen Hann Furn; Deep-Fried Prawns with Mayonnaise and Golden Cornflakes; The Pin Wei main dining area; and Deluxe Dimsum Basket with Xiao Long Bao

Traditional Chinese cuisine in a warm, modern setting SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

C

HINESE cuisine has become a favorite for many of us, especially when celebrating birthdays and other milestones. Who doesn’t relish a succulent Peking duck, its crispy skin wrapped in thin pancakes with slivers of cucumber and leeks topped with plum sauce? Or even just start one’s meal with authentic flavors of dim sum favorites, like pork siomai or hakaw?

For many Quezon City residents such as myself, one previously had to go all the way to Greenhills in San Juan, or Chinatown in Manila to partake of comforting Chinese delights for our special occasions.

Fortunately, the need for an authentic Cantonese restaurant in my neck of the woods has been met with the recent opening of Pin Wei (“good taste”) at the Seda Hotel in Vertis North.

At its helm is Executive Chinese Chef Chen Hann

Furn, formerly of Tin Hau, one of the most popular and premier Chinese restaurants in the Metro when Mandarin Oriental Manila was still around.

At a recent tasting event, Chef Chen wowed us diners with specialties that he has been known for, like dim sum items and hand-pulled noodle dishes.

There is also a wide array of barbecued meats, seafood and beef, all paired with the finest collection of teas.

There is definitely something for everybody, yes, even the ever-popular Pinoy favorite, Sweet and Sour Pork.

(Chef Chen pointed out that this dish appears to have a following only in the Philippines, but not in Indonesia, Singapore or Dubai where he has also worked. Well, the Pinoy palate certainly is different, as it has been influenced by so many other foreign cuisines from Spain, America and Latin-America.)

My favorite so far is Chef Chen’s Xiao Long Bao, with its delicate wrapper enfolding a delicious medley of pork and shrimp, swimming lightly in a warm deeply comforting soup. I have eaten so many xiao long bao in my lifetime, but in our home shores, I can proclaim Chef Chen’s to be truly one of the most authentic and most delicious I’ve tasted. (It’s a shame that only one piece is offered as part of the Deluxe Dimsum Basket; it can stand on its own merits and should be offered in four to six pieces for more people in a dining party to enjoy.)

The restaurant also features other popular dim sums including flavorsome siomai combinations of

caviar tobiko, baby abalone, scallops and shrimps.

There is also a carrot-shaped glutinous dumpling with black pepper minced beef, and the steamed buns with minced duck in oyster sauce shaped and colored to look like a large mushroom. I was also enamored by a steamed bun with creamy and luscious salted egg yolk. Another dish I particularly relished is the Steamed Live Garoupa with Scallions in Superior Sauce, Hong Kong Style for the simplicity of ingredients and the freshness of the fish.

Of course, for special occasions, Pin Wei’s Beijing Duck with Chinese Pancakes and Crispy Roasted Suckling Pig are likely to be the festive centerpieces of any meal. The tender, but firm, pancakes beautifully contrast with the duck’s crispy skin and moist slivers of meat smeared with homemade hoisin sauce.

Seda Hotel tries to source most of its ingredients locally so the homegrown duck is not as fatty, and its meat firmer. Roasted in the remarkable way that Chef Chen has used over the years, the dish still delivers the tastiest flavor profiles we have come to love.

The suckling pig’s entire skin, on the other hand, has the crunch of lechon macao, but not so oily. The pig is slowly but meticulously roasted for four hours, so diners must give the restaurant advanced notice if they are ordering it.

Giving our meal a touch of whimsy is the DeepFried Prawns with Mayonnaise and Golden Corn Flakes. I thought this was a delight because the prawn

had heft, but its meat still tender despite the frying.

For rice choices, Pin Wei has Wok-Fried Fragrant Rice, Yang Chow Style; and Wok-Fried Rice with Minced Chicken and Salted Fish, the latter being my preference.

Until the end of November, diners can enjoy a dim sum buffet every lunchtime. Hopefully, they extend this promo as I will certainly be first in line for it.

The 130-seat restaurant is designed in a more modern ethos, so there will be none of the garish red tones and lacquered wood furniture common in most Chinese restaurants. Natural lighting from floor-toceiling windows are easily deflected by the bleached wooden panels and the streamlined seats with woven rattan backs.

At night, warm lighting illuminates the second floor restaurant, easily visible through glass walls from Ayala Malls Vertis North. The atmosphere is comfortably warm and inviting, complementing the interiors of the hotel.

What’s best about the Pin Wei is that diners don’t have to spend a fortune to get a taste of Chef Chen’s genius. The restaurant spells value-for-money with its well-executed dishes and authentic flavors, matched with fine service at reasonable prices. And that, to me, is extremely in “good taste.” n Pin Wei is on the second �loor of Seda Vertis North, Quezon City. For inquiries, call 739-8888.

‘Empower one woman, inspire an entire village’

BY JT NISAY THE biggest local footprint of women in business is in the micro-retail sector, particularly sari-sari stores and carinderias.

Of the 1.1 million of these small and medium enterprises (SMEs), 90 percent are owned and operated by women—most of whom are not equipped with proper training and education.

According to Joy Munsayac-Cacal, Coca-Cola Philippines public affairs and sustainability manager, these women generally put up a business to help with their family’s expenses, but fail to realize the full potential of their stores.

“These women don’t see themselves as businesswomen,” Munsayac-Cacal said in a recent visit to BUSINESSMIRROR. “Thus, they do not realize the opportunity to augment. Based on studies, up to 40 percent of households needs can be addressed by a well-run sari-sari store.”

Among the problems encountered by these entrepreneurs is the lack of accountability from family members, who get household supplies from the stores, treating it as extension of their kitchen. Another is the extension of credit to neighbors, relatives and friends, which almost usually come to a default.

Launched in 2011 to help address these

concerns and more is the Coca-Cola SariSari Training and Access to Resources (STAR) Program. Star is Coca-Cola’s flagship program for women economic empowerment in the Philippines, which aims to provide an enabling environment that can help women microentrepreneurs overcome the barriers they face to business success.

“The impact of helping women achieve economic empowerment will be far and wide,” said Atty. Adel Tamano, vice president for public affairs and communications of Coca-Cola Philippines. “Women are most likely to invest their earnings back to the growth of their families, especially their children, which paves the way for a better future generation. Empowering one women inspires an entire village.”

The program is in line with “5by20,” or the global commitment of The Coca-Cola Co. to enable the economic empowerment of 5 million women across the company’s value chain by 2020. The STAR Program in the Philippines aims to contribute 200,000 empowered women to the global target, and is on track to deliver on the commitment with 164,000 participants for the program as of end-2018.

The STAR Program has been rolled out on a nationwide scale, in partnership with the government and various microfinance

institutions, including the Technical Education and Skills Development Authority, or Tesda.

The Coca-Cola STAR Program is comprised of three major components: Access to Training, Access to Resources, and Access STAR Peer Mentoring Support.

“With STAR, it’s not just about improving women’s business skills, but empowering them by building their confidence,” Munsayac-Cacal said.

According to the STAR Program

Impact Evaluation Study conducted by Ipsos Group SA from July 2015 to July 2017, around 97 percent of women felt the STAR Training was useful in their business management, while 32 percent feel more confident about their future and financial responsibility.

One of the success stories of the program is Carmelita Aspiras. She put up her sari-sari store in 2012 with a capital of P20,000. Three years later, she attended the STAR Program and revolutionized her business, along with her life. She

regulated store hours from 5 am to 11 pm, and her gross daily earning increased from P3,000 to P5,000.

“I was able to let my children finish school, and business is thriving,” Aspiras said.

Meanwhile, Lita Igong-Igong was able to recover from a devastating loss with the help of the STAR Program. In 2012, she lost everything to Typhoon Pablo.

She tried to get back on her feet by opening a carinderia with a capital of P1,000. In 2014, she was accepted in the STAR Program, and her business grew exponentially that it pulls in now P300,000 a month.

The STAR Program is just one of the three initiatives of Coca-Cola Philippines under its Women Economic Empowerment Programs, along with Women REACH for women OFWs, and Women Artisan Program for upcyclers.

The women aspect is part of the 3Ws of Coca-Cola Philippines’s sustainability pillars. The other two are Water (wherein the company has helped return more than 100 percent of the water it uses to make their finished drinks to nature and communities since 2015) and Waste (which entails achieving 100 percent recyclable packaging globally by 2025, as well as recycling one bottle or can for every one the company sells by 2030).

D4

Show BusinessMirror

Friday, November 22, 2019

www.businessmirror.com.ph

Times are changing, royalty or not CONTINUED FROM D1 when you can use one?’ It often means we lose a lot in the edit, scenes that we’ve slaved over, beautifully shot work, prized moments, but his instincts are always, always right.”

Morgan said he’s become comfortable with dramatizing the famous, but admits that finding his approach to the modern genre wasn’t easy. His breakthrough came on The Deal, a British TV movie about Labor colleagues and rivals Tony Blair and Gordon Brown. “The really big leap of terror for me happened in 2003, really when I first started writing Tony Blair in a serious way and broke with the tradition of only dealing with political figures and our leaders through satire,” instead creating fully realized individuals, he said.

Morgan doesn’t mingle with the royal family, but he did have a brief encounter with Prince Charles in 2015, when the heir to the throne invested him, among some 80 others, as a commander of the order of the British Empire—in Morgan’s case, an honor recognizing his services to drama.

“So you’re a scriptwriter?” Charles asked him, adding his view that what a writer chooses to leave out is more important than what’s included—a comment that Morgan says he didn’t take as a veiled message (it was, to be fair, before The Crown had debuted, but after The Queen had taken a hard look at the House of Windsor).

“I don’t think he had the faintest idea who I was,” Morgan said, matter of fact. “I think he would have been far more excited and far more interested to meet people involved in conservation, or farming or even in science and invention. It’s hard to imagine, for those of us in London, New York, or Los Angeles, but there’s a huge world out there that doesn’t give a [expletive] about what we do.”

The Crown has proven compelling to audiences and, although Netflix doesn’t release ratings, Morgan happily noted that views have jumped for this season’s preview trailer. He’s mulled both viewer dedication to the series and his own (“Why am I still doing this?”) and concluded part of the answer is the canvas it offers to examine the latter half of the 20th century.

“On the one hand, you’re looking at history and you’re looking at a family and you’re looking at the British constitution. But because these people are such strong connective tissue...you’re also looking at your grandfather, your grandmother, your father, your mother, your own childhood and your children’s childhood,” he said.

He hadn’t foreseen that the series “would be the story of our lives,” he said, invoking Warren Buffett’s name and economics to bolster his resolve to stick with The Crown to its end, whenever that may come.

“In a funny way, I think it’s important that I carry on doing, because it’s a bit like compound interest,” Morgan said. “It becomes more profound the more of it there is.” n

ABS-CBN launches Christmas station ID GAB FAB JET VALLE

@jetvalle

B

ESIDES the often humorous but mostly annoying memes of Jose Mari Chan and Mariah Carey, the ABS-CBN Christmas Station ID always marks the start of the yuletide season.

Every year, the network unveils a new song with an accompanying short film or a long-form music video, depending how you view it. It is usually laced with the network’s roster of stars with ordinary Kapamilyas who did extraordinary things to warrant a spot in the station ID with their heartfelt and inspiring stories.

This year is no different.

Clocking in at almost 13 minutes, this year’s station ID is titled “Family is Forever,” which celebrates the unwavering, unconditional and enduring love of Pinoys for their families.

Launched just this week and available for viewing on ABS-CBN and its digital platforms, Family is Forever is a tribute to Filipinos who embody the true meaning of love for family, as it features the Noblezeda “Keribels” Family from Iloilo who keeps a happy disposition amid life’s obstacles; Marielle Hernali, a Supertyphoon Yolanda survivor from

Tacloban, who graduated as valedictorian in her class; and Arnel Aba, a one-legged swimmer who won a gold medal in the Asean Para Games.

It also showcased the touching stories of Jan Aure Gascon, the student from Abra, with a simple dream of owning a pencil; El Gamma Penumbra, the shadow dancing group from Batangas, who won the top prize in Asia’s Got Talent; and the Garcia brothers from Pangasinan whose love for their country as soldiers is as strong as their love for their family.

ABS-CBN’s Family is Forever station ID was recorded by The Voice Kids finalists and coaches Sarah Geronimo, Bamboo and Lea Salonga, and include live recordings of Kapamilyas from different sectors, such as farmers, soldiers, call-center agents and shoemakers from Marikina.

But what I find touching is that the new Christmas song successfully creates a medley of the network’s popular Christmas carols through the years—“Thank You For The Love,” “Just Love Ngayong Christmas,” “Family is Love” and “Bro, Ikaw ang Star ng Pasko” (the latter incidentally celebrating its 10th anniversary and many consider it the best among the songs).

Supported by a strong soundtrack and enticing visuals, Family is Forever is set to be a classic in the tradition of the other station IDs preceding it.

It is both heartwarming and heartfelt, and I must admit I even shed a tear or two on my first viewing, especially in the part when the past Kapamilyas featured were reunited with the ABS-CBN stars they first appeared with. That was a stroke of genius as we sort of expected a new bevy of ordinary viewers being surprised by the stars. While the surprise element was still there, it was very touching to see them reunited.

Yup, ABS-CBN has done it again. Seventeen years of doing a Christmas station ID and making me get goose bumps, do ugly cries, go into aw-shucks feels, give joyful smiles and marvel at all the hard work put in for this annual holiday special just for its viewers.

What a time to be a Kapamilya. nnn ZEE Sine, the first and only Tagalized Bollywood channel in the country, with shows that feature Indian cinema’s brightest stars, including former Miss Universe Sushmita Sen, Miss World Aishwarya Rai, and Hollywood celebrity Priyanka Chopra is now available on Skycable.

Developed with the taste and likes of the Filipino audience in mind, Zee Sine has a wide range of content—from drama, comedy and romance to action, thriller and musical, all carefully selected based on stories relatable to its audience.

In Zee Sine, the localization process goes as far as creating movie themes like Unli Tawa Monday, Hari ng Aksyon Thursday, Pinoy Bollywood Box Office, Star of the Month, Bollywood Divas and Kilig Monday. Even the original character names in the movie are changed to names familiar to the audience, and the stories are told in a language close to the Filipino heart. Zee Sine offers three original movies and three original drama series on weekdays, and five original movies on weekends and premieres three first-airing movies every month on weekends.

Alongside the movies, Zee Sine also brings TV series that feature the latest love teams from India in the afternoon on weekdays.

Come 2020, Zee Sine will continue to bring the biggest Bollywood blockbusters and award-winning drama series plus more. n

Mike Enriquez honored at Icon Media Awards MULTI-AWARDED news anchor and radio host Mike Enriquez of GMA News was recognized as a “Media Icon” at the first-ever Media Icon Awards organized by the Media Specialists Association of the Philippines (MSAP) held on November 5.

Enriquez, who is also the president of Radio GMA Network, coanchors GMA’s flagship news program, 24 Oras, and hosts the investigative public affairs program Imbestigador and GMA News TV’s Dobol B sa News TV. On radio, he banners Super Radyo

DZBB’s Saksi sa Dobol B and Super Balita sa Umaga Nationwide.

The award further highlights the invaluable contribution of Enriquez to Philippine media.

MSAP Chairman Hermie de Leon underscored Enriquez’s significant role in pioneering news reporting on television that paved the way for more Filipinos to appreciate news.

Recipients of the Media Icon Award were chosen based on their contribution to the development of media, their unquestionable credibility and integrity, and the

respect they earned from various sectors. Joining Enriquez in the pioneer list of awardees were Television and Production Exponents President and CEO Antonio “Tony” Tuviera, Paciencia Pineda, Carmencita Esteban, Abelardo Yabut Sr., Norberto Timbol, Esther Capistrano, Manuel Antonio Quiogue, Freddie Garcia and Nominanda Lansang.

The only Filipino so far to win the Best Newscaster Award in the Asian Television Awards, Enriquez has been constantly recognized for his work by various award-giving bodies.

TAYLOR SWIFT

Grammys announce nominees, contenders include Taylor Swift NEW YORK—The Grammys have announced the first nominees for its 2020 show, and contenders include Beyoncé and Taylor Swift.

Recording Academy President and CEO Deborah Dugan, who started the job earlier this year, announced at a news conference in New York City, on Wednesday morning that Beyoncé’s “Spirit” and Swift’s “You Need to Calm Down” will compete for best pop solo performance.

Lizzo’s “Truth Hurts,” Billie Eilish’s “Bad Guy” and Ariana Grande’s “7 rings”—three songs that reached the No. 1 spot on the Billboard Hot 100 Chart—are also nominated for the award.

The Grammys will announce more of its nominees at the conference and then on CBS. The show has 84 categories. The 2020 Grammys will air live from the Staples Center in Los Angeles, on January 26. AP

Mikhail Red’s ‘Dead Kids’ streams December 1 on Netflix NETFLIX’S Dead Kids made its Philippine premiere as the Closing Film at the just-concluded Cinema One Originals Film Festival.

Acclaimed Filipino director Mikhail Red and stars Sue Ramirez, Khalil Ramos, Markus Paterson, Vance Larena, Kelvin Miranda, Gabby Padilla and Jan Silverio walked the red carpet, and talked more about the film with the press.

Red said, “I have always wanted to make a film about the complexities of my generation. I wanted to expose the entitlement and insecurities of a generation growing up in a country of extreme social disparity but cleverly package it as pop entertainment. For me Dead Kids is a story of young lives running wild yet cut short with their potentials unfulfilled. It is a crime

story in the age of social media and a bleak vision of the Filipino youth’s psyche. It is a commentary on the youth’s views on masculinity, morality and vigilante justice paralleled with

today’s political climate. It is both a coming-of-age story and a cautionary tale for the builders of our future.”

“It is overwhelming to know that through Netflix, our film Dead Kids

will reach 158 million subscribers in 190 countries. It has always been my dream to get my message across the global market, and offer Filipino cinema to the world. Of course, this wouldn’t be possible without the dedication and talent of Filipino film workers and the faith of Globe Studios in this project,” he added.

Produced by Globe Studios, Dead Kids launches globally on Netflix on December 1. A socially awkward teen bonds with a group of misfits who plot to take out the school’s arrogant rich kid—until their kidnapping scheme turns deadly. Based on true events, Dead Kids is directed by awardwinning director, Red, who is known for his internationally acclaimed films Birdshot and Eerie, both of which are also streaming on Netflix.

DEAD Kids director Mikhail Red (not in photo) with the film’s cast Kelvin Miranda (from left), Markus Paterson, Gabby Padilla, Khalil Ramos, Vance Larena, Sue Ramirez and Jan Silverio. COURTNEY SAYSON/NETFLIX

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

PEUGEOT LAUNCHES Editor: Tet Andolong

Friday, November 22, 2019

E1

THE 2020 ALLURE P

Story & Photos by Patrick P. Tulfo

EUGEOT Philippines is about to end 2019 with a bang as it introduces two new models in the sport-utility vehicle category in a span of weeks.

Fo l l o w i n g t h e s u c c e s s f u l launch of the petrol variant of the 3008, held at the French ambassador’s residence located inside the posh Forbes Park Village in Makati, the seven-seater 5008 Allure followed suit (launch was held at their showroom located along C-5 in Pasig). The 2020 model 5008 Allure promises an upgraded driv ing ex perience, safety and accessibility features.

Styling wise, the new 5008 still looks the same, except for some subtle enhancements to its looks, such as 18” Detroit Alloy wheels that gives it a more athletic stance.

Inside, prospective buyers and new owners will be greeted with full Claudia leather seats, a pan-

THE 5008 is a real head turner

oramic sunroof and new LED lighting that highlight the premium feel of this goodlooking SUV. Now boasting of an array of latest technologies that makes it a standout in the crowded SUV segment, the 5008 now puts an even more emphasis on driving and comfort. Peugeot’s Advance Drivers Assistance (ADAS) makes its debut on this model, this system includes active blind spot

THE 1.6-liter Twin Scroll High Pressure Petrol Turbo engine is Euro-4 compliant and produces 165 hp and 240 N-m of torque

PEUGEOT Philippines Business Development Director Dong Magsajo and Sales Director Dodie Ganac proudly pose beside the 2020 Peugeot 5008 SUV

detection system, lane keeping assist, speed limiter and cruise control feature with intelligent speed adaptation.

But aside all this hi-tech safety features, Peugeot didn’t forget to add an electronic tailgate with foot sensor control for those whose

hands are always full.

The best news so far, to those who have always wanted to own a Peugeot SUV, is its pricing. Now also sourced from Malaysia, just like its brother, the 3008, the company can sell this good-looking, fully loaded French-made SUV

THE dashboard looks futuristic

at rather affordable price of just P2.190 million.

Dodie Ganac, sales director of Peugeot Philippines sums it all up when he said, “At this price point, the 2020 Peugeot 5008 SUV has the best combination of premium features and impressive

technologies in a vehicle available in the market today.”

The 2020 Peugeot 5008 Allure seven-seater SUV is now available in selected Peugeot dealerships nationwide. Interested buyers may inquire at info@peugeot.ph to learn more about this fine SUV.

Moto

Business

ISUZU RO

E2 Friday, November 22, 2019

MORE SPACE, MORE SEATS AND MORE SAVINGS

W

HEN it comes to passenger vans, one of the brands in mind is Foton, particularly when considering these big factors: the size and the price. The rise of this segment shows how having the right product at the right price can move the traditional market of vans and people movers. For Foton’s case, alongside the trucks, the 16-seater Traveller has become their flagship entry.

Due to the increasing demand of vans for family use or transport business, Foton made significant appointment upgrades to this 16-seater Traveller van. Space, size and seating configuration updates were sprinkled on this bubble top vehicle in a bid to tap a larger market for the passenger van segment through the all-new Traveller XL. So, what makes the Traveller XL distinct from its competitors?

Just like the Traveller, this new variant is a recipe of an everyday mover covered with stylish design, homey interiors and an extended seating capacity of 19— individual comfortable seats, to be exact.

Its engine remains the same as with the standard Traveller— a 2.8-liter, 16-valve and turbo intercooled Cummins diesel engine generating a power output of 148 hp/3,600 rpm. It is also mated with a five-speed manual transmission.

Open the driver’s door and you are welcomed with a refreshed cabin that offers bells and whistles you would expect in a passenger van. The interior fit and finish is ergonomic and feels well put together, with everything at your fingertips. For entertainment, the XL variant is equipped with a 2-DIN Touch Screen, and the standard AM/FM radio, MP5, Bluetooth, SD card slot and AUX and USB ports.

Safety continues to be a priority across this range, with ABS and EBD with traction control standard throughout. Dual airbags, seatbelt reminders, and fourprobe reverse sensors with camera also offer the driver security.

For utmost comfort, Foton also equipped the Traveller XL with features, such as individual adjustable head rest, dual airconditioning system, front and

rear air-conditioning system with ceiling mounted air conditioning vents that keep the passengers cool during long trips.

With the Traveller XL’s looks, whether for corporate transfers a nd mu lt ipa ssenger h i re - c a r work—or even lu xur y family use, it can definitely tick all the right boxes.

Conversely, another desirable aspect that might influence Traveller XL buyers would be its ability to carry 19 passengers and still have space behind the last row of seats and cargo barrier for their luggage. With this feature, the Traveller XL would effectively do away with the bag-damaging trailers we see bouncing along behind less safe, and less efficient, sardine-can vans transporting cargoes.

What’s makes it better is that the Traveller XL is currently offered at P98,000 all-in DP or P16,906 low monthly amortization under Foton’s Fun Christmas Holideals promo. The deal runs until December 31, 2019, and is available in all Foton Motor Philippines Inc. accredited dealerships nationwide.

THE ALL-NE THE Refrigerated Van variant

I

THE Dropside Truck variant

Story & photos by Randy S. Peregrino

SUZU Philippines Corp. (IPC) recently rolled out its latest light-duty truck (Class 1)—the all-new Traviz. Derived from the group of words, such as transport, trading and transcend, along with the shortened term for business, “biz,” the nameplate simply implies “Transcend Your Business.”

MG SIGNS AS OFFICIAL MOBILITY PARTNER OF THE 30TH SEA GAMES

ISUZU Motors Ltd. Chief Engineer of Traviz Masato K Corp. Division Chief Operating Officer for Isuzu Busi

SPACIOUS and ergonomic cabin MG vehicles featuring the 30th SEA Games 2019 logo will be used to ferry athletes during the much-awaited biennial sports event in the Philippines.

M

ORRIS Garages—better known today as MG— the much-loved British heritage car brand, has signed an agreement with the Philippine Southeast Asian Games Organizing Committee (Phisgoc) and Mediapro Asia to be the Official Mobility Partner of the 30th Southeast Asian (SEA) Games and the 10th Asean Para Games.

As part of the sponsorship 80 MG vehicles will feature with the 30th SEA Games logo, and these will be used to ferry athletes and teams to and from games. These special-edition MG 30th SEA Games edition vehicles will be seen in various parts of the country during the much-awaited, multisport biennial event. With this partnership, MG supports all the athletes participating in the 30th SEA Games on their path to greatness, as we all #DriveToWin. MG has almost a century of motoring heritage behind it and is truly the fastest-growing global brand with headquarters in both hemispheres of the globe. Specifically, in Southeast Asia, it is present in the Philippines and in Thailand,

and will also be available very soon in Indonesia. Today, the MG brand is teeming with youthful energy, and its dynamism as an automotive innovator pushes the envelope of excellence. In this partnership with the 30th SEA Games, MG identifies with and celebrates the pursuit of excellence. The same values that drive MG forward: discipline, honesty, innovation, hard work, character, and fun are mirrored in each and every SEA Games athlete.

In this respect, MG emulates and reflects the greatness present in every SEA Games athlete.

MG Philippines President and CEO Atty. Alberto B. Arcilla, said, “To be part of the 30th Southeast Asian games—an edition that features so many milestones and firsts—is a distinct honor for us at MG Philippines. As the Official Mobility Partner of the 30th SEA Games, we are grateful to provide meaningful assistance to all local and international athletes and teams by equipping them with safe, comfortable and stylish rides for the duration of the games. It is our privilege to be of service to all athletes as they battle it out for

their respective countries, and it invigorates us to see so many energetic talents sharing in the spirit of competition and camaraderie.

Through this partnership, we uphold the long sporting heritage of MG and enliven the competitive spirit that fuels MG to excel.”

Lars Heidenreich, managing director of Mediapro Asia, shared, “We are thrilled to have another partner on board through us.

With MG, we hope this sponsorship turns the Philippines into a stronghold for the brand.”

The Phisgoc Foundation Inc. is likewise delighted to have MG on board, as a transportation and mobility partner who can surely accommodate the needs of all the athletes and participants of the 30th SEA Games.

Phisgoc Senior Managing Director Jojit Alcazar said, “We thank MG for the opportunity to partner with a brand with such a rich motoring heritage. We are, likewise, very thankful to MG for providing everyone in the SEA Games with the ability and the means to move around all our many game venues all over the country.

The introduction of the all-new Traviz is the answer to the growing demands of transporting goods of SMEs (small and medium enterprises),

including transportation solutions in support of the public utility vehicle modernization program (PUVMP).

According to IPC, this new light-duty

truck is ideal for food businesses, utility companies, logistics and transport, as well as delivery services. Even for agriculture, construction and equipment. Further, this new light-duty truck would be every company’s reliable form of transportation to carry out the “last mile” delivery of items to retail stores or door-to-door deliveries.

Key IPC officials graced the launch event, including dealer representatives and executives from Isuzu Japan. None other than IPC President Hajime Koso spearheaded the introduction of the allnew Traviz. “The all-new Isuzu Traviz continues our tradition of providing not just reliable products but business solutions—reasons why, in the Philippines, Isuzu has been at the No. 1 spot for more than 19 years,” he said. Koso

HOW MUCH DO YOU KNOW

O

NE of the most talked about topics in the motoring industry today is probably the rising growth of electric cars. However although we hear about electric vehicles almost every day, there is a lot we don’t actually know about them.

In this article we’ll expand on some of the simpler details about the vehicles of now and the future.

Electric cars have been around for more than 150 years

INTEREST in motor vehicles increased greatly in the late 1890s and early 1900s. According to the US Department of Energy, the first successful electric car in the United States was unveiled around 1890.

Electric cars became extremely popular in cities in 1900, particularly with upper-class women who disliked noisy and smelly attributes of gasolinepowered cars.

By 1935, electric cars had all but disappeared from the road. The innovation by Henry Ford dealt a huge blow to any prospects of the electric vehicle.

Electric cars have the lowest maintenance and running cost

BEYOND wiper blades and tires, all-electric vehicles require little maintenance, saving consumers money during the life of the car.

Even the brake pads last longer in electric vehicles because they use regenerative braking to slow down, a method of converting the energy used to reduce the car’s speed into power that is stored in the car’s battery.

In terms of its battery, EV Batteries do wear out so replacement batteries will eventually be needed. But BYD batteries can charge up to 4,000 cycles or warrant EV batteries for around 10 years.

The biggest electric-vehicle manufacturer and market is in China

ACCORDING to Arcadia Power Blog, Electric vehicle sales in China accounted for 50 percent of total sales last year. Europe and the US were the second- and third-largest markets. But even with all the sales, electric vehicles still make up just 0.2 percent of all cars in circulation.

In September 2018, BYD set its fourth all-time record of plug-in car sales in a row, reaching 25,019—over 4,000 above the record from August.

Pace of growth increased to 121-percent year-over-year.

A real cost saver

THE biggest practical problem holding many people back from going electric is the cost. In the Philippines, electricity costs between P11 to P12 per kilowatt-hour, and this month’s average cost for a liter of

oring

sMirror

OLLS OUT

EW TRAVIZ

Friday, November 22, 2019

E3

‘KASABAY SA LAKBAY’

T

HROUGH more than 85 years, Petron has been an integral part of the Filipino narrative, through all the ups and downs and in the best and the worst times. Since 1933, it has remained resilient in the face of overwhelming challenges and rejoicing in the soaring successes of the Filipino nation.

What truly distinguishes Petron is its deep understanding of the needs of Filipino motorists, founded on a heritage of service that spans more than eight decades, serving generations of Filipino families. This is the theme of Petron’s new marketing campaign, “Kasabay sa Lakbay,” a sentimental journey through important life experiences where Petron has been the Filipino’s reliable partner.

Fueling the nation

WITH its vast network of service stations, ranging from mega stations on major thoroughfares and highways to small, strategically stations in remote, rural areas, Petron has been serving the fuel needs of Filipinos.

Keenly aware of evolving industry trends and the latest technological advances, Petron has always been at the forefront of fuel innovation. It has taken the lead in introducing fuel products that help protect the environment while ensuring optimum driving performance and delivering improved fuel efficiency. All Petron fuels—Petron Blaze 100 Euro 6, Petron Xtra Unleaded, Petron XCS, Petron Turbo Diesel and Petron Diesel Max—are formulated and produced locally at Petron’s Bataan refinery, the largest and most advanced refining facility in the country. Petron was the first to offer a full range of Euro-4 gasoline and diesel fuels well ahead of the government’s deadline. Most recently, Blaze 100 was acknowledged as the best gasoline in the country, as certified by international laboratory tests and proven in actual field tests on local road conditions.

THE Utility Van variant

Fueling journeys

PETRON always puts the needs and welfare of consumers at the heart of its endeavors. This

Kagami (from left), Isuzu Motors Ltd. Sales Executive Officer Hirokazu Okubo, IPC President Hajime Koso, IPC Executive Vice President Shojiro Sakoda, Mitsubishi iness Division Shigeru Wakabayashi, and Mitsubishi Corp. Isuzu Asean Department General Manager Daisuke Takagi

also pointed out that the newest lightduty truck addresses the three most pressing and current customer needs, based on detailed market survey and IPC’s extensive on-the-ground experience in the Philippines.

Design-wise, the familiar look adapted from Isuzu’s existing modern light trucks is very much evident. But the aerodynamic cab design offers easy ingress and egress. In fact, the comfortable and spacious cabin not only can fit three occupants (including the driver), it is also ergonomically designed with better visibility.

Engineered for durability, sizeable cargo capacity, and offers superior fuel efficiency, its modern design and overall built is ready to “Transcend your Business.” Furthermore, this new

light-duty truck’s design concept is a combination of Japan’s best-selling truck and its best qualities (hexapod design, fuel-efficiency, capacity, rigidity) along with the flexibility and stability of Isuzu pickups. As a result, there are two available platforms, namely: The Traviz S (Short Wheel Base) and the Traviz L (Long Wheel Base).

Motivation comes from a Euro 4-compliant 4JA1 2.5-liter Direct Injection Common Rail with Blue Power technology turbodiesel engine and mated to a five-speed manual gearbox.

This is the same power train utilized in the well-liked, durable and reliable Crosswind AUV. Output is rated at 77 hp and 176.5 N-m of maximum torque.

Maximum payload is up to 1.6 ton—the heaviest in its class.

Other reliable features are superior braking performance, easy maneuverability thanks to 4.5 meters turning radius. All these, along with its overall modern design, it is also backed by strong after-sales support. The all-new Isuzu Traviz is manufactured in Isuzu’s world-class assembly facilities in Indonesia, where the Traviz (locally named as Traga) has enjoyed up to 46-percent share of the market segment within a year of its introduction.

The price for the all-new Traviz starts at P962,000 (short wheelbase model). Additionally, it comes with a three-year or 100,000-km warranty, whichever comes first. For more information, please visit your nearest Isuzu dealership, or log on to www. isuzuphil.com.

year, it launched its Fuel Wise campaign to help empower a more informed and more responsible population of Filipino motorists. Since the campaign’s launch, Petron has been traveling across the country to enjoin more motorists to learn and benefit from the campaign.

The spirit of service is embodied by the country’s longest-running motorist assistance program, Petron Lakbay Alalay. Manned by Petron employee-volunteers and now on its 33rd year, it has evolved into a road-safety advocacy to ensure that holiday travelers enjoy safe and worry-free journeys.

Especially on long holiday weekends when families and friends embark on road trips to neighboring provinces, Petron employees offer their time to serve at designated Petron Lakbay Alalay locations. There they offer free service checks to ensure vehicle roadworthiness, free medical assistance, clean restrooms, and even free goodies from partner establishments.

Fueling hope

AS a responsible corporate citizen, Petron is deeply committed to making a positive impact on the lives of others, especially on those who have less.

Its flagship CSR program Tulong Aral ng Petron (TAP) provides a brighter future for the Filipino youth by fueling HOPE (Helping the Filipino Children and Youth Overcome Poverty through Education). It has provided scholarships to more than 16,000 students in elementary, high school and college since 2002.

Petron also helps its communities build the foundations for a better life through its programs on environment, health, entrepreneurship and livelihood.

Kasabay sa Lakbay

AS a Filipino company, Petron has withstood the test of time and proven its steadfast commitment to Filipino motorists. Spanning almost three generations of drivers since 1933, it has been an integral part of our grandparents’ journey as the country recovered from the ravages of war and gained independence. It fueled our parents’ adventures through the rest of the century, and advanced with us into the new millennium powered by new technologies. Just as it has been a reliable and constant presence in our life journeys, Petron—Kasabay sa Lakbay—will continue to be there for the future generation of Filipino drivers.

ARMORED PROTECTION BY IMPENETRA

W ABOUT ELECTRIC CARS?

T

gasoline is P53.

Let’s say you have an electric car that has a range of 300 km in a single charge and a battery capacity of 40 kWh. It will costs only P147 for your all-electric vehicle to

travel a distance of 100 km, while a similar-sized gasoline car would require a 7L of gasoline and would cost around P53/liter or P371 on a 100-km run.

This adds up to a savings of more

than P224 per 100 km or P6,720 per month in refueling costs if you’re running 100 km/day, and expect that the next generation of electric vehicles will bring even bigger savings.

O protect yourself against acts of terrorism or assassination, armored protection is the most viable solution. With the social media platform making you and your loved ones more vulnerable and exposed to acts of terrorism, politically motivated assassinations, kidnapping and even road rage, your best bet for safety is vehicle armoring.

Impenetra Armor Protective Systems (Impenetra), a company based in Bacoor, Cavite, has been in the armoring business for quite some time and they are recognized also as the premier supplier of personal armor protection. With armor and bomb proofing technology currently in use by European and US security forces, Impenetra’s array of bullet proofing, armoring and personal

protective equipment are battlefield tested and has been certified by the Comite Europeen de Normalisation 1063 (CEN 1063). Impenetra’s ballistic protection meets EU Standards BR6, BR4 and Road Rage protection.

Level BR6 protects the occupants from assault rifles and handguns of up to .44 magnum.

The best thing about Impenetra’s armored vehicles is that they are designed in such a way that it looks like a normal car. Their current armoring protection program can equip light SUV’s such as the Toyota Fortuner, Mitsubishi Montero, Nissan Terra and pickup’s like the Nissan Navara and Toyota Hilux. They also have ballistic protection for vans such as the Kia Carnival, and Toyota Hiace Grandia. “We use lightweight com-

posite ballistic panels, which is the strongest in the world now,” said Paulo Villarta of Impenetra Philippines. Their armoring is light, so suspension and engine modifications are no longer necessary. “Although with higher level of armoring, we may need to improve the vehicle’s overall performance,” added Villarta.

Aside from vehicle armoring, Impenetra Philippines also offers armored vehicle maintenance, leasing services for bulletproof vehicles, armored vehicle maintenance and after-sales parts, tactical personal protective solutions and vehicle performance upgrade for safety solutions.

For details visit Impenetra’s Facebook @impenetraPH or log on to www.impenetraph.com.

Motoring BusinessMirror

E4 Friday, November 22, 2019

A speck of Beatle blood in Alfred’s veins HERE’S THE COMPLETE LIST OF THE PODIUM FINISHERS FROM LAST WEEKEND’S RACES: Race 7

I

1st 2nd 3rd

MISSED The Beatles concert recently cohosted by Alfred Ty and Henry Sy Jr. My teeth still grind.

Besides being the chairman of both Toyota Motor Philippines and Lexus Philippines, Alfred is also the chairman of Federal Land. Sy is chairman of SM Prime.

Forty years or so ago, their fathers, the late tycoons George Ty and Henry Sy Sr., built The Ritz, the upscale residential property in Ayala Avenue Makati City.

Thus, Alfred and Henry Jr. are merely continuing the legacy of their fathers with the unveiling recently of their The Estate project, also in Makati.

Of the 188 projected rooms at The Estate, 40 percent of it had already been reserved.

A unit there costs from P90 million to P458 million. Already, all of the penthouse suites had been sold out.

I have not made reservations.

How can I? You crazy? I don’t even make 400K a year.

Writing is such sorrow (sweet missing—intentional). But no complaints. We writers are a bunch of crazed fellas that we keep the writing flame desperately alit— never mind that empty tables eternally stare us squarely in the face.

Writers make people famous and then, the fame make these people rich.

Some remember. But most forget. Fine. Goes with the territory.

At the recent Grand Hyatt

Hotel party at the BGC to officially launch The Estate, members of the West End production of Let It Be: A Celebration of the Music of the Beatles performed a medley of songs by the Mop Topped impersonators.

The exclusive event came into fruition after Alfred saw the production in London. He loved it so much that he invited the group to perform for The Estate’s valued clients.

I am not a valued client­— but, of course! But I would like to think that I am a valued friend of Alfred’s. That’s all that matters, according to Sir Vince Socco. That is why Alfred got me invited to the show.

Unfortunately, the show coincided with my coverage of the Tokyo Motor Show. Since I am neither Superman nor Spider-Man, I couldn’t be in two places at the same time.

The Tokyo trip had cropped up first and so, I was there when Alfred’s invite arrived.

Still, I am grateful for the honor of having been invited to a show that featured The Beatles copycats—The Beatles being my favorite band of all time. Thank you very kindly, Alfred.

By the way, here’s a trivia that I’m sure Alfred would surely love: the father of John Lennon, the

Celebrity Troy Montero Aubrey Miles Gretchen Ho

Promotional Francis Adriano Darrel Garbes Julian Tang

Sporting John Dizon Marc Soong Red Diwa

Celebrity Promotional Troy Montero Francis Adriano Aubrey Miles Darrel Garbes Gerald Anderson Elysse Menorca

Sporting Lord Seno Marc Soong Gel Napat

Celebrity Promotional Troy Montero Julian Tang Gerald Anderson Elysse Menorca Daniel Matsunaga Ian Rosales

Sporting John Dizon Marc Soong Eggy Ong

Race 8

1st 2nd 3rd

Race 9

1st 2nd 3rd

SATORU SUZUKI

Autocross Challenge

Chief Beatle, is named Alfred.

So there, my dear Alfred. Now you know why there is a speck of Beatle blood running in your veins.

Vios Racing Festival ends

T OYO TA Mot or Ph i l ip p i ne s (TMP) ended its 2019 Vios Racing Festival season recently at the Clark International Speedway on a high note as usual.

In their farewel l per formance, over 70 Circuit Championship and Autocross Cha llenge drivers took turns pounding the tracks w ith heightened

wa ku-dok i spir it powered by the ever-reliable Toyota Vios.

Series front-runners expectedly delivered podium finishes but new champs also appeared in the winners’ list, including celebrity racer Gerald Anderson who secured wins for the first time since the season started.

TMP’s Carlo Nemo shares this Anderson Instagram post: “I had to finish the last leg of the Vios Racing Festival with a bang! I was tired of losing and not giving a good race for my fans/supporters who travelled from Manila to Clark every race to support me. You guys were my motivation. I couldn’t accept not standing on the podium before the Vios Racing Festival ended.”

Anderson added: “I learned that we all have to be like a Toyota Vios in our lives. Reliable—be someone your family can always rely on; Quality— always giving your best at ever y t hing ; Safet y—protect ing yourself & family; Relentless— never stopping ‘til you reach

your Goals/Dreams. Let’s all be a Toyota Vios.”

TMP President Satoru Suzuki paid tribute to both the racers and the winners. “ To y ot a a p p re c i at e s y ou r heartfelt support over the course of the Vios Racing Festival. Together, we all contribute to the growth of motorsports in the Philippines, and we’ll continue to do so for more years to come,” said Suzuki.

The overall winners of the 2019 Vios Racing Festival season will be feted in the TMP Awards Night later this month.

TMP has been organizing Vios motorsport events in the country for six years now. TMP added the Autocross Challenge this year, transforming the annual Vios Cup into a more inclusive and accessible Vios Racing Festival by opening racing slots to more car club members, motoring journalists, social-media personalities and even regular drivers or Toyota fans who joined TMP’s social-media contests.

1st 2nd 3rd

SMPs

Media

Car Clubs

Vince Vandorpe Anjo Perez

Carlos Iñigo Anton

Jun Sunga Jose Luis Altoveros Reph Bangsil Raymond Figuerres

Sean Kody S. Ng Mickie Carbonell

The 2019 Vios Racing Festival is supported by TMP’s partners and sponsors Bridgestone, Petron, Motul, Rota, Brembo, Denso, AVT, 3M, OMP: and Tuason Racing.

PEE STOP I just got back from

a grueling trip to Dubai, Jordan, Palestine, Israel and Egypt, reenergizing my faith in God, as well as strengthening my soul so that I can continue leading a life bathed in humility, richer in kindness and wiser to the ways of loving and forgiving anyone regardless of race, creed and station in life. I thank Jay and Senen Glorioso for keeping Sol and me company during the nearly three-week, energysapping pilgrimage retracing the places and solid soil that our Lord Jesus had plodded on as a Son of Man 2,000 or so years ago. God have mercy.

PORSCHE SCORES TOP FINISHES IN SHANGHAI

P

ORSCHE continues to extend its lead in the 2019/2020 FIA World Endurance Sports Car Championship as Porsche drivers scored double podium finishes recently at Shanghai International Circuit, where the third round of the championship was held.

Porsche was already leading the World Endurance Championship (WEC) points standings coming into the Shanghai, China, race.

During the September 1 seasonopening round held in Silverstone, England, Porsche teams had clinched top positions, including a one-two finish in GTE-Pro class. Following this was an equally strong performance in the second round, held at Japan’s Fuji Speedway on October 6, where Porsche teams successfully defended their championship lead by securing

top finishes in both the GTE-Pro and GTE-Am classes.

In Shanghai, reigning world champions Kevin Estre and Michael Christensen, aboard their No. 92 Porsche 911 RSR, took up the fourhour race from pole to place second, in the process extending their lead in the drivers’ classification. The No. 91 911 RSR sister car of Gianmaria Bruni and Richard Lietz finished in third spot, completing the Porsche GT Team’s appearance on the podium.

The Shanghai race was gripping to the last second, during which time the Porsche GT Team used the full course yellow, occurring just before the end of the race, for its last pit stop. With less than an hour to go, Estre managed to sweep from third into second place.

Bruni, who drove the final stint in the No. 91 car, made up one position

with 40 minutes left on the clock to ultimately land on the podium.

Spirited drives and a strategic effort paid off for the Porsche GT Team over 125 laps on the 5.451-kilometer Shanghai circuit. Estre and Christensen now lead the drivers’ classification by five points. Bruni and Lietz are currently six points off the lead in third.

Porsche customer team Project 1 also secured a podium result in GTE-Am class. The trio of Ben Keating, Jeroen Bleekemolen and Larry ten Voorde brought the 2017-spec 911 RSR home in second place after 113 laps. Five other 911 RSR entries, fielded by Project 1, Dempsey-Proton Racing and Gulf Racing, rounded out Porsche teams’ performance at the Shanghai circuit.

The results have allowed Porsche to expand its lead in the manufacturers’ classification in WEC by 17 points.