BusinessMirror November 23, 2018.pdf

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

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Friday, November 23, 2018 Vol. 14 No. 44

Surge in palm oil imports raises fears of dumping 900% T By Jasper Emmanuel Y. Arcalas

@jearcalas

HE government is looking into the possible dumping of palm oil and the trade remedies that it may apply, such as the slapping of tariffs, after imports surged last year, Agriculture Secretary Emmanuel F. Piñol said on Thursday.

Piñol said the Department of Agriculture (DA) was taken aback when palm oil imports jumped by 900 percent on an annual basis and breached 200 million kilograms (kg) in 2017. “The Philippines right now will look into trade remedies because

there was, according to statistics, a huge increase in the arrival of palm oil from both Malaysia and Indonesia. Palm oil arriving in the country breached about 200 million kg,” he told reporters in an interview. “From only 20 million kg in 2016,

palm oil arriving in the country breached about 200 million kg last year. Indonesia was at about 120 million kg,” he added. While the entry of palm oil imports was legal, Piñol said traders may be dumping the commodity in the country, which he said is

The jump in palm oil imports on an annual basis, breaching 200 million kilograms in 2017

a cause for concern for the local coconut sector. He said he has instructed the DA’s trade remedies office to investigate the import surge to determine the proper measures to be undertaken by the Philippines. Pending the results of the investigation, the agriculture chief said he would order the slapping of tariffs on palm oil as an immediate measure to avert the further flooding of palm oil in the local market. See “Palm oil,” A2

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@butchfBM

EN. Cynthia A. Villar conf ir med T hursday that a joint Senate-House panel agreed to retain the P10-billion Rice Competitiveness Enhancement Fund, as well as a separate P10-billion funding in national budget for coconut farmers. Interviewed after attending a bicameral meeting on the coco levy fund and rice tariffication bills, Villar reported the senators and congressmen also opted to “divide the coconut bill into two.” Asked if the Rice Fund was retained, Villar replied: “Of course. That is the most important, right? The Rice Competitiveness En-

hancement Fund, and the national budget appropriation for the coconut farmers. Pareho silang [They are both] P10 billion.” The senator clarified that three bills were actually approved by the bicameral panel. “These are three bills because we divided the coconut bill into two. One for the benefit of the industry and one for the coco levy fund,” Villar said. Villar confirmed that the bicameral panel also agreed to adopt the Senate version of the rice tariffication bill, which, she said, provides for 35-percent tariff. “That is the provision for Asean. But in other countries it’s higher. Kasi may limit sila, mas mababa ang Asean [Because they have a limit, it’s lower in Asean].” See “Rice fund,” A5

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LOCSIN REVEALS CHINA, PHL OIL, GAS M.O.U. TEXT By Recto Mercene

@rectomercene

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HE Philippines and China failed to arrive at a firm agreement to start joint exploration anytime soon in parts of the South China Sea (SCS), but are keeping their options open to“possible energy cooperation” under a memorandum of understanding (MOU) signed on Tuesday during the visit of President Xi Jinping to Manila, Foreign Affairs Secretary Teodoro L. Locsin Jr. said. Locsin read aloud in a television interview on Thursday some parts of the Philippines-China MOU on Oil and Gas Development, which topped 29 documents signed during Xi’s historic visit. The government had been asked by some quarters to reveal the full text of the oil-gas MOU immediately, amid growing anxiety over China’s real design, considering its rejection of a 2016 ruling by a United Nations tribunal invalidating its “nine-dash line”claim where

Bicam panel retains ₧10-B rice fund, ₧10B for coconut farmers By Butch Fernandez

2017 EJAP JOURNALISM AWARDS

it bases its claim over nearly 90 percent of the SCS. According to Locsin, the deal signed during the state visit of Chinese leader Xi “merely seeks to study and discuss the prospects of a possible energy cooperation between the two countries.” Speaking to CNN Philippines, Locsin read a part of the MOU, which he said he drafted, saying both governments agreed to establish“an intergovernmental joint steering committee” to look into possible energy cooperation. The committee—to be cochaired by the foreign ministries and co-vice chaired by the vice ministries—“will be responsible for negotiating and agreeing on the cooperation arrangements in maritime areas to which they will apply, and deciding the number of working groups to be established and for which part of the cooperation area each working group is established.” “Each working group will See “MOU,” A12

Exporters: Hike GIE rate, just don’t scrap it in ‘Trabaho’ bill By Elijah Felice E. Rosales

T TALLEST TREE People crowd around a Christmas tree installed on the grounds of Tagum City Hall in Davao del Norte, and which residents take pride in as the country’s tallest, at 182 feet. The city’s Christmas tree is draped with 232,400 rice bulbs and rope lights and other decorations. A 12foot star sits atop the tree, surrounded by 23 smaller stars to represent the 23 barangays of Tagum City. The recent lighting spectacle also kicked off a monthlong Paskuhan sa Tagum festivities. Story in Regions, page A9. PHOTO COURTESY OF THE CITY GOVERNMENT OF TAGUM

@alyasjah

HE country’s top merchandise exporters are appealing to lawmakers to increase to 7 percent the gross income earned (GIE) rate instead of removing it under the proposed Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill. The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) made its appeal on Thursday as the GIE—which is paid by economic zone locators in lieu of local and national taxes —is on the brink of being rationalized under the Trabaho bill. See “Trabaho bill,” A12

n JAPAN 0.4644 n UK 67.0740 n HK 6.7025 n CHINA 7.5780 n SINGAPORE 38.2374 n AUSTRALIA 38.1203 n EU 59.7608 n SAUDI ARABIA 13.9929

Source: BSP (22 November 2018 )

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A2 Friday, November 23, 2018

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Diokno disputes claim of ‘unusual’ requests delaying budget bill’s okay

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By Bernadette D. Nicolas

@BNicolasBM

UDGET Secretary Benjamin E. Diokno disputed on Thursday House Majority Leader Rolando G. Andaya Jr.’s claim that the President had a number of “very unusual” belated requests which supposedly caused the delay in the passage of the budget bill.

PHL. . .

Continued from A12

With this, Socioeconomic Planning Secretary Ernesto M. Pernia said the United States was also interested in providing ODA to the Philippines. Asian countries, such as Malaysia, could also be interested given that they are already involved in projects such as the New Clark City. When it comes to concessional tied loans from China, these have an interest rate of 2 percent with a maturity of 20 years and a grace period of five years. In terms of Preferential Buyer’s Credit tied loans, China offers an interest rate of 3 percent with a maturity period of 20 years and grace period of five years. Yen loan packages from Japan have an interest rate of 0.8 percent to 1.4 percent with a maturity of 15 to 25 years and a grace period of five to seven years. For yen loan package under Preferential Terms which are untied loans, Japan offers an interest rate of 0.15 to 0.3 percent with a maturity of 15 to 40 years and a grace period of five to 10 years. Japan also offers a Stand-by Emergency Credit

Japan. . .

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Teodoro L. Locsin Jr. signed and exchanged notes concerning the two yen loanprojects, amounting to a total ¥205 billion (approximately P95 billion), in the presence of Dr. Hiroto Izumi, Special Advisor to the Prime Minister, and Philippine Economic Managers. “This is our sixth meeting since March 2017. Our regular meetings continue to visibly deliver positive impact on our key infrastructure projects and sectoral cooperation. I am glad to see this Joint Committee has covered and addressed many issues in such a short period of time,” Finance Secretary Carlos G. Dominguez III said. During the meeting, the finance chief chaired the Philippines’s side, while the Japanese delegation was led by Izumi. The loan for the Pasig-Marikina River Channel Improvement Project Phase IV covers the final phase of the project to mitigate the frequent massive flooding caused by the overf low of the PasigMarikina River. For the NSCR Extension Project, Japan has committed to grant the loan in tranches. The project involves extending the NSCR railway from Malolos in Bulacan to Clark International Airport in Pampanga and from Solis in Manila to Calamba in Laguna. Dominguez said the two sides will continue to discuss Philippine flagship infrastructure projects included in the pipeline for Japanese financing “to address outstanding issues on project preparation and implementation.”

for Urgent Recovery, another untied loan, which has an interest rate of 0.01 percent with a maturity of 40 years and a grace period of 10 years. It also has a Special Term for Economic Partnership, a tied loan with a interest rate of 0.10 percent for all loans and a maturity period of 40 years and grace period of 10 years.

‘Price to pay’ IN May this year, Pernia said that as Filipino’s per capita incomes grow, so will the country’s interest payments. He said this was the “price to pay” for advancing in higher levels of income. The National Economic and Development Authority (Neda) believes the Philippines is on track to becoming an upper middle-income country by the end of the year or in 2019. This means that by the end of the year or next year, the country’s gross national income (GNI) per capita will increase to at least $4,036 from $3,550 in 2015. Upper middle-income economies are those with a GNI per capita of between $4,036 and $12,475, while high-income economies are those with a GNI

Faster processing

AS a result of the regular dialogues between the Philippines and Japan, two loan agreements were signed in a short span of time since the fifth meeting of the two countries in Tokyo in June for official development assistance (ODA). These cover the supplemental loan of ¥4.376 billion for the second phase of the New Bohol Airport Construction and Sustainable Environmental Protection Project and the ¥38.1-billion loan for the Metro Rail Transit Line 3 (MRT 3) Rehabilitation Project. Joining Dominguez and Locsin at the meeting were Secretaries Ernesto M. Pernia of the National Economic and Development Authority (Neda), Benjamin E. Diokno of the Department of Budget and Management (DBM), Arthur P. Tugade of the Department of Transportation (DOTr), Mark A. Villar of the Department of Public Works and Highways (DPWH), Alfonso G. Cusi of the Department of Energy (DOE); as well as Vivencio B. Dizon, President-CEO of the Bases Conversion and Development Authority (BCDA); among others. Dizon explained that key projects under the government’s BBB program, as well as projects funded with Japanese ODA, are well on track in terms of implementation. “I think in terms of the key projects that have already been launched both in Metro Manila, Luzon, the Visayas, and Mindanao, I think things are on track. As for the ODA projects with Japan, everything I think, is on track,” Dizon said. Asked on when the loan signing agreement for the two projects would take place, Dominguez said, “I’m not sure if there’s a specific date already set, but we will be working

per capita of $12,476 or more. However, with higher incomes, multilateral development bank lending, such as those offered by the Asian Development Bank (ADB), will become more expensive. Currently, no country has graduated from ADB assistance, despite the presence of large economies among its developing member-countries. However, there are countries that are classified as having grant-only, concessional, and marketbased lending. This classification is based on the per capita income, economic situation, and debt repayment capacity, among others. These are carefully calibrated such that as DMCs improve their economies, the interest payments they make for loans they secure also increase. ADB President Takehiko Nakao said this does not aim to increase the Manila-based multilateral development bank’s income but is done in the interest of fairness. However, Nakao said some ADB governors “supported an idea of applying differentiated pricing in our regular ordinary capital resources lending to address the diverse situations of countries.”

on it together with the Japanese Embassy here, as well as our Japanese counterparts.” He said the speed in which the loan agreements signed with China as well as Japan for infrastructure projects to be implemented in the country are “progressing quite well.” “It’s not a horse race. Basically, we are satisfied with the pace that we are achieving for both big projects; we are receiving ODA assistance from China and Japan, they are both very relevant and the projects on both sides are progressing quite well,” he added.

Best time

NOW is the best time, he said, to have the Philippines’s infrastructure projects funded by ODA, wherein rates are low and the tenors for the agreements are long, since the country will become a middle income soon resulting to higher interest rates. Meanwhile, Villar said the Bangsamoro Road Network Development Project is being eyed for implementation within the year. “We have already completed the master plan for the Marawi road network, which is one of the projects of Jica [Japan International Cooperation Agency]. So we are targeting to start implementation this year. We will implement this program that was generously given to us by Jica in the amount of P950 million,” Villar said. During the meeting, a joint venture agreement was signed for the New Clark City among the BCDA, Japan Overseas Infrastructure Investment Cooperation for Transport and Urban Development and Surban Jurong. The contract for general consulting service for the Metro Manila Subway Project Phase I between the DOTr and Japanese consulting firms was also signed.

Diokno told the BusinessMirror that he is not aware of such requests and even challenged Andaya’s claim. “Show me the public proof. Was there a formal communication from the President to the House leadership?” he said in a text message. According to Andaya, the House had been receiving several additional requests, including those from the President, which were not in the original proposed budget submitted by the Department of Budget and Management. Moreover, reports quoted Andaya claiming that the President wanted the Lower House to allot funds for military personnel and other infrastructure projects, particularly a P2-billion fund for a housing project for soldiers. However, Andaya did not give a figure on how much was being requested by the President. For its part, Malacañang neither confirmed nor denied Andaya’s claims and instead referred questions on the issue to Diokno. “That is the perception of Congressman Andaya. But any question regarding that, if raised, will be responded to by Budget Secretary Ben Diokno,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a Palace briefing. “I think Budget Secretary Diokno will be more knowledgeable on that.” On Tuesday, the House approved on third and final reading the P3.757-

Palm oil. . .

Continued from A1

“According to our WTO [World Trade Organization] negotiators, the Philippines could invoke a claim of injury of the industry. And for the next 200 days we could impose tariffs on these items so that we will be able to protect our local farmers and local industry from further injury,” he said. The DA chief said he will “immediately sign the order to address the flooding of palm oil in the country. Because right now it is tariff-free.” Under Republict Act 8800, or the Special Safeguards Act, the government could slap or increase tariffs or even reimpose quantitative restriction (QR) if an import surge is proven detrimental to the domestic sector concerned. The agriculture chief could motu proprio conduct a preliminary investigation if the increase in volume of imports is “substantial, or are threatening to substantially cause, serious injury” to the domestic sector. The results of the preliminary investigation shall be transmitted to the Tariff Commission for the conduct of a formal investigation, according to RA 8800. However, if delays in the preliminary investigation would cause damage to the domestic sector “which would be difficult to repair,” then the agriculture secretary can immediately issue a written instruction, through the finance secretary, to the customs commissioner for the imposition of a “provisional general safeguard measure.” “Such measure shall take the form of a tariff increase, either ad valorem or specific, or both, to be paid through a cash bond set at a level sufficient to redress or prevent injury to the domestic industry: Provided, however, that in the case of agricultural products where the tariff increase may not be sufficient to redress or to prevent serious injury to the domestic producer or producers, a quantitative restriction may be set,” RA 8800 read. “When the provisional safeguard measure is in the form of a tariff increase, such increase shall not be subject or limited to the maximum levels of tariff as set forth in Section 401 [a] of the Tariff and Customs Code of the Philippines,” it added.

₧3.757 trillion The proposed budget for 2019 as approved on third and final reading by the House of Representatives trillion proposed budget. The bill is expected to be transmitted to the Senate’s next week. The Executive was hoping for the passage of the money measure by December 12. However, the measure would still need to undergo scrutiny of the bicameral conference committee after December 12. Despite the House approval, Senate Majority Leader Juan Miguel F. Zubiri said there may still be a reenacted budget from anywhere from two to four weeks since he is projecting that the ratification will fall around January 14 to 16. Malacañang immediately dismissed this as speculation and expressed confidence that the proposed 2019 budget will be passed on time. “We’re only speculating that it will not be passed. We have submitted a budget proposal, so it’s the House’ call,” he said. “Well, the House knows that this is the budget proposal of the Palace. And so, they will have to do their job. If there are questions on the budget, they will raise them and we will respond to them,” he added.

Safeguards

UNDER the WTO Agreement on Safeguards Article 12, a member-country must notify the body if it initiates a special safeguard investigation, or imposed safeguards related to import surge. The WTO allows the reimposition of QRs and increase of tariffs given that the import surge was proven harmful to a country’s domestic sector. “A WTO member may take a safeguard action [i.e., restrict imports of a product temporarily] only if the increased imports of the product are found to be causing, or threatening to cause, serious injury,” according to the WTO. When asked if the Philippines would notify the WTO about its investigation, Piñol replied that he has referred the matter to the DA’s trade remedies team. Data from the Philippine Statistics Authority (PSA) showed that the country’s imports of palm oil and its fraction (whether refined, but not chemically modified) nearly doubled to 144.509 million kg in January to September, from last year’s 73.571 million kg. PSA historical data also showed that the ninemonth palm oil import volume has already surpassed the total import volume of 95.006 million kg recorded in 2017. This is also the highest volume of palm oil imported since 2007 and this could increase further as figures from the last quarter are yet to be accounted, PSA data showed. About 53.94 percent of the total palm oil imported by the Philippines during the nine-month period came from Malaysia, while 45.70 percent was sourced from Indonesia. Malaysia exported some 77.961 million kg of palm oil to the Philippines in the January-toSeptember period, while Indonesia shipped about 66.050 million kg. The country’s palm oil imports in 2017 doubled to 95.006 million kilograms, from 47.149 million kilograms recorded volume in 2016, according to PSA data. The bulk of the imports, or about 58.96 percent, of the total volume came from Malaysia which reached 56.016 million kilograms, nearly double the 28.354 million recorded in 2016. Indonesia exported about 38.549 million kilograms of palm oil to the Philippines in 2017, more than double the 18.487 million kg it shipped in 2016.

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DENR officials welcome Korea’s ‘good gesture’ to take back hazardous waste By Jonathan L. Mayuga @jonlmayuga

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FFICIALS of the Department of Environment and Natural Resources (DENR) on Thursday lauded the Government of the Republic of Korea to probe a Korean exporter, and the decision to have the tons of waste that contain hazardous materials be brought back to Seoul. “It is a positive development. It only shows they are compliant with the provision of the Basel Convention on the Trans-boundary Movements of Hazardous Wastes and their Disposal,” lawyer Jonas R. Leones, designated spokesman of Environment Secretary Roy A. Cimatu, told the BusinessMirror. Leones, also environment undersecretary for Policy, Planning and International Affairs, said transboundary movement, under the international treaty, is prohibited without the consent of either the exporter or importer. “The decision of the South Korean Government only shows that the Basel Convention is working,” he said. National Solid Waste Management Commission Secretariat Executive Secretary Eligio Ildefonso said it is only appropriate for the Government of South Korea to take back its hazardous waste. “In the first place, it is against the Basel Convention, and there’s no import permit for it,” Ildefonso said. Ildefonso said the discovery of the toxic wastes being shipped into the country should serve as a lesson for both the Korean and the Philippine governments. “The fact that the imported recyclable plastic was able to get past the Korean ports means even the Korean authorities need to strengthen their monitoring of exported materials,” he said. In the Philippines, Ildefonso said, there is a need to strengthen the monitoring of the country’s ports to ensure that no such importation of toxic or hazardous wastes will ever happen in the future. Leones and Ildefonso were reacting to a news statement issued by the Korean Embassy in Manila, stating that the Government of the Republic of Korea—the Ministry of Environment, the Korea Customs Service and the Ministry of Foreign Affairs will conduct an investigation and will have the wastes in question be brought back to Korea as soon as possible. Benny D. Antiporda, the DENR’s undersecretary for Solid Waste Management and Local Govern-

ment Unit Concerns, had earlier informed the Government of South Korea about the violation of the Basel Convention, including Philippine laws, particularly Republic Act 6969 or the Toxic Substances and Hazardous and Nuclear Waste Control Act of 1990. Through an e-mail, Sunyoung Kim, Minister Counselor for Economic Affairs of the Embassy of the Republic of Korea, assured to Antiporda that appropriate measures will be undertaken to deal with the issue of waste imports to Mindanao from Korea by Verde Soko Philippines Industrial Corp. The e-mail reflected similar explanations and course of actions taken by the government of South Korea. “As the Bureau of Customs in the Philippines uncovered last July illegal plastic wastes which were exported from Korea, Korea’s Ministry of Environment and the Customs Service on November 16 jointly inspected the exporter of the wastes in question, located in Pyeongtaek City,” it said. “The exporter in question made the export declaration on waste synthetic highly polymerized compound in January 2018,” it added. “The joint inspection of the exporter’s business site found plastic wastes mixed with a significant amount of materials, such as wood and metal wastes and wastes, which had not gone through an appropriate recycling process,” it said. The e-mail message added: “Since the Ministry of Environment and the Korea Customs Service confirmed that the exporter had exported wastes which had not gone through a proper recycling process...and that documents required for export were forged, they have taken measures against related violations of law.” “The Ministry of Environment on November 21 initiated legal procedure to have the wastes in question in the Philippines be brought back in accordance with Article 20 of the Law on Cross-border movement and Disposal of Wastes—Prior Notice of Repatriation Order— and embarked on investigation of the violation of Article 18-2 of the said law—False Export Declaration,” it said. The Korea Customs Service is investigating the exporter in question for the possibility of its exporting of wastes with illegitimately prepared export documentation. Korean authorities will have the wastes in question be repatriated and properly disposed of and work to prevent recurrence of the prob-

Palace says ‘no encroachment’ in China-funded bridge project

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ALACAÑANG assured on Thursday it will not allow a China-funded bridge project encroach into the buffer zone required by the United Nations Educational, Scientific and Cultural Organization (Unesco) for the country’s baroque churches that may prompt delisting from the World Heritage list. This, after the Unesco warned that San Agustin Church and three other churches around the Philippines may be deleted from the list due to the construction of the Binondo-Intramuros Bridge in Manila. The other churches that are also at risk are San Agustin in Paoay, Ilocos Norte; Nuestra Señora de la Asuncion in Santa Maria, Ilocos Sur and Santo Tomas de Villanueva in Miag-ao, Iloilo. The bridge will pass over the Pasig River and connect San Fernando Street in Binondo to Solana Street and Riverside Drive in Intramuros. Asked if Palace authorities won’t allow the construction of the bridge to intrude into the buffer zone, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a news briefing: “Oh, definitely, because that is a world heritage. That is part of our history.” However, he also said that this does not mean that they will not push through with the bridge project, since there may be other ways to construct the bridge without it intruding in the buffer zone requirement. Bernadette D. Nicolas

Gordon ‘exasperated,’ vows arrest of ‘no-show’ witnesses in drug case

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By Butch Fernandez

@butchfBM

HE chief prober in the ongoing Senate inquiry into the P6.4-million shabu smuggling case expressed “exasperation” over the authorities’ foot-dragging in filing cases against erring Bureau of Customs officials for “possible malfeasance, misfeasance and nonfeasance” in allowing the illegal drug shipment to slip through Customs. “Why not file cases [against those involved],” Sen. Richard J. Gordon told reporters after presiding over

Tuesday’s Blue Ribbon Committee inquiry. “That should be enough ground to file cases.”

Gordon also aired disappointment over the “slow action” by the Anti-Money Laundering Council. “I want to wrap up the Senate inquiry, but the AMLAC is slow in acting,” Gordon said but did not go into details. The senator bewailed what he deemed to be “a cavalier attitude” of government officials to help track down and bust big-time illegal drug deals in the Philippines. Signaling his frustration, Gordon disclosed his intention to raise the matter with Central Bank Governor Nestor A. Espenilla Jr. “We will inform the Central Bank governor about it.” At the same time, the senator warned that the investigating committee will not hesitate to move to “detain witnesses to make sure they are present in the hearings.” This developed as the Senate chief prober cited in contempt four

“no-show” witnesses facing possible arrest order to ensure their presence in the next Blue Ribbon panel hearing, including Philippine Drug Enforcement Agency Director Ismael Fajardo, SMYD Trading owner Marina Signapan and two other invited witnesses who failed to show up, Eduaro Acierto, said to be an ex-policeman, and Emily Laquingan. “We will issue contempt citations against these four witnesses,” Gordon said, adding, “I would put everyone under suspicion [if they do not show up].” The senator, likewise, served notice that he will not hesitate to issue contempt citations against the invited witnesses who fail to show up at the next hearing on December 4. “We will detain them to make sure they are present in the hearings,” Gordon added.

Navy eyes to acquire 33 more MPAC seacraft for internal, external defense By Rene Acosta @reneacostaBM

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HE Philippine Navy is eyeing to acquire at least 42 multipurpose attack craft (MPAC) under the military’s ongoing modernization program since the MPAC can be used for both internal and external defense. The planned procurement of additional small but agile and potent vessels was bared to military reporters by Navy Chief Vice Adm. Robert Empedrad during the firing and capability demonstrations of the Israeli-supplied Spike-ER (extended range) aboard an MPAC in Limay, Bataan, on Wednesday. “Based on our matrix, we should have at least 42 of these type of vessels, MPAC,” said Empedrad. This is not for offensive, this is to defend our territory from internal and external [threats].” Currently, the Navy already has nine MPACs, all of which are being eyed to be equipped with Spike-ER missiles from Rafael Advanced Defense Ltd., while three more will be arriving next year. “In the future, [we will have] 42 of this type of vessel.,” Empedrad said. Defense Secretary Delfin N. Lorenzana, who witnessed the capability demonstration, was satisfied with the missile’s performance. “Very impressive for a ship to hit the target while moving. I think technology has come to the Navy,” he said, adding that the technology would be used to protect the country’s maritime waters.

Suspected terrorist slain in Leyte ops

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Editor: Vittorio V. Vitug • Friday, November 23, 2018 A3

SUSPECTED member of the Dawlah Islamiyah (DI), a local cell of the international terrorist group Islamic State (IS), was killed on Thursday in a joint operation conducted by the police and military in Leyte province. Joseph Anulga Jr., alias Dawud, was killed during a joint operation at Sitio Lawis, Barangay Airport, Ormoc City, by members of the 802nd Brigade, the Military Intelligence Groups 8 and 24, and the Criminal Investigation and Detection Group (CIDG) 8. Capt. Salvacion Evangelista, civil-military operations officer of the 802nd Brigade, said Anulga was a member of the DI [formerly known as the Maute Group], which has been tagged as a local cell of the IS, the same group responsible for the Marawi siege last year in partnership with the Maute and the Abu Sayyaf Group. The death of Anulga in Leyte has confirmed that the DI has already established operations or has memberships outside of Mindanao, notably in Ormoc City. Evangelista said the terrorist member resisted arrest during an actual operation by the CIDG, supposedly to buy weapons from him since he was reportedly involved in gun-running activities. “Anulga is an Islamic convert and had already pledged allegiance to Daesh [IS] and its recognized caliph Abu Bakr al-Baghdadi,” she said. Rene Acosta

“I am really impressed. No ammunition was spent, they all hit the target although the ammunition is quite expensive. But in the long run, if you are going to buy a cheap ammunition and it will not hit a target, then you will just have to stick with this,” Lorenzana said. Other than missiles, the MPACs

are also armed with automated .50 caliber machineguns, which Empedrad said can hit a small target that is moving at a very high speed. “This will also give deterrence to our enemies that are using the seas. We can hit enemy ships moving in particular area,” he said. Lorenzana said the arrival and

use of the Navy of Spike-ER missiles showed that the country’s primary maritime force is also improving and beginning to catch up with “what’s happening in the neighborhood,” referring to other states in the region. “If we look at our neighbors, we are the only one which is left behind,” the defense chief said.

A4 Friday, November 23, 2018 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Cusi bares details on PHL-China MOU on joint oil, gas exploration

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By Lenie Lectura

@llectura

nergy Secretary Alfonso G. Cusi said on Thursday the Philippines and China have allotted a one-year period to discuss the recently signed memorandum of understanding (MOU) before both countries could arrive at any firm agreement on a possible joint oil and gas exploration. “We have to sit down immediately and come out with our position and we should do it. If I remember it right, within a period of no more than one year. That is for us to come out with ways to harness the resources, or do a joint development or joint exploration. We have to come out with ways, or no ways. We have to put an end in that talking,” said Cusi during the launch of the first Philippine Conventional Energy Contracting Program (PCEP). He also clarified that “there is no joint exploration yet,” but only a MOU “to explore ways on how we can harness the indigenous resources at West Philippine Sea.” The Department of Energ y (DOE) and the Department of Foreign Affairs (DFA), he added, are closely working on the lifting of

mor at o r ium on e x plorat ion activ ities involving Service Contract (SC) 72, an oil a nd g a s e x ploration perCUSI mit covering the Sampaguita natural-gas prospect in the Reed Bank, to the west of Palawan. “We want to lift it…but as we do so, we do not want to create problems that we may not be able to handle. The DOE and DFA, together with other government agencies, are working together to find a solution

to that problem,” Cusi said. “We don’t want to impose a timeline that is not within our control because there are other factors we have to consider. But what I can tell you, we are working, moving with urgency,” he added. Discussions between the PXP Energy Corp. and China National Offshore Oil Corp. for a possible joint exploration of SC 72 had been put on hold because of the dispute between the two countries on the area where the service contract is located. The Philippine government had declared force majeure on the license in 2015 due to a territorial dispute with China then. Meanwhile, the DOE is aggressively promoting the PCEP to address the lack of petroleum exploration in the country. The DOE noted that the Philippines is trailing behind its neighbors in upstream petroleum activities as the country has so far drilled an average of five wells in a 10-year period. “Five wells vis-à-vis the double and triple digit averages of other Asean countries. We could no longer be complacent and subject ourselves to the volatility of the global oil markets. It is high time that we establish a sustainable petroleum exploration and development program,” said Cusi. P C EP s e e k s t o e ncou r a ge sta keholders to invest, e xplore, develop and produce the

nation’s indigenous energ y resources, he said. “President Duterte has pushed us to ‘Build, Build, Build.’ Similarly, we have expressed our support for Sen. Win Gatchalian’s ‘Dril, Drill, Drill.’ We build on the same momentum with the PCEPour battle cry—‘“Explore, Explore, Explore,’” Cusi said. Under the PCECP, there are two modes of application potential investors may pursue. First, interested parties may wish to bid on the 14 predetermined areas identified by the DOE, one in Cagayan, three in East Palawan, three in Sulu Sea, two in AgusanDavao, one in Cotabato and four in West Luzon. The application period is 180 days, and will be officially opened during the launch. Alternatively, the applicants could also nominate and publish other areas of interest. In this mode, applications could be submitted at any time of the year, and would be subjected to a 60-day challenge period. During the launch, DOE Undersecretary Donato D. Marcos said an initial count of “65 foreign and 200 local firms” are interested to explore the 14 predetermined areas, while some have indicated intention to nominate other areas.” Prior to the launch, the DOE conducted several road shows to drum up awareness on the program, including an international road show held in Singapore last August.

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PMSEA head to govt: Shut down Minahang Bayan sites By Jasper Emmanuel Y. Arcalas @jearcalas

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he Philippine Mine Safety and Environment Association (PMSEA) called on the government to shut down all Minahang Bayan sites, saying these small-scale mining sites had done more harm than good. PMSEA President Walter Brown said small-scale mining operations under Minahang Bayan sites has just caused environmental degradation and ineffective results. “They should close all existing Minahang Bayan sites and institute programs in the law,” Brown told reporters on the sidelines of 65th Annual National Mine Safety Environment Conference. “The structure is ineffective. Small-scale mining will become worse [if more Minahang Bayan sites will be declared],” he added. The establishment of a Minahang Bayan area is stipulated under Republic Act 7076, or the People’s Small-Scale Mining Act of 1991. Under RA 7076, small-scale mining operations should only be conducted within Minahang Bayan areas declared by the Department of Environment and Natural Resources. Brown noted that the intention of the Minahang Bayan law was good but the government could not regulate small-scale mining properly. “They don’t want to be regulated because they have not been regulated properly,” he said. “If you give them a fair opportunity because what’s happened is,

at least in Mindanao, we’re able to overcome the influence of the NPA [New People’s Army]. We’re actually not helping them but exploiting them,” he added. Furthermore, Brown argued that it is not possible for any miner not to use any explosives to extract ores. Under the law, small-scale mining operations should not utilize explosives or any heavy mining equipment. “If you look at the Minahang Bayan law, you can’t use chemicals, you can’t use explosives, you can’t use any heavy equipment and who can operate under those [rules]?” Brown said. “Anybody that joins will just openly violate the regulations,” he added. Brown, who also serves as the president and chief executive officer of Apex Mining Co., proposed that the government should adopt the so-called big brother approach for the small-scale miners. Under the big brother approach, small-scale miners would be partnered with big mining companies and could provide them proper guidance on their operations, according to Brown. “We should get the established big mining companies that are working in the area [to] work in coordination with the government and with the small-scale miners,” Brown said. “It has to be a unified effort and the part of all government agencies, first of all, is to educate the people and to give them alternative means of livelihood,” he added.

DTI may revive mandatory product testing on flat glass By Elijah Felice E. Rosales @alyasjah

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he Department of Trade and Industry (DTI) is eyeing to bring back mandatory testing on flat glass products in response to calls from business leaders to do so, the country’s trade chief said on Thursday. At the Manufacturing Summit 2018, Trade Secretary Ramon M. Lopez said the DTI is looking into the possibility of putting flat glass back on the list of import goods mandated to undergo certification. He said this is in response to earlier calls from industry leaders to tighten import procedures on the item. Local glass manufacturers in July decried the alleged influx of imported flat glass, as some do not meet the standards set by the

government. The product remains to be classified under voluntary product certification of the DTI’s Bureau of Product Standards. “We are reviewing the inclusion of [flat] glass in the mandatory listing,” Lopez said in his keynote address. This was the first time he made the remark almost four months after industry leaders raised the issue in public. Flat glass is commonly used for buildings and used to be part of the list of import goods that has to undergo product certification from the government. However, in 2015 the DTI removed it from the list to streamline the issuance of Import Commodity Clearance (ICC). Importers have to obtain ICC from the DTI before they can bring in goods from overseas and sell them in the market.

With the removal of flat glass in the mandatory list, local flat manufacturers are in a wait-and-see mode with their plans to expand. They said the influx of substandard steel makes it doubly difficult for them to compete with imports. In July Pioneer Float Glass Manufacturing Inc. President Paul Vincent C. Go said his firm is holding on to a P5-billion investment for a new facility in Bataan for the production of float glass. The plant is penciled to have a capacity of 900 metric tons per day. Go explained he is still studying his firm’s expansion plans given the situation that imported flat glass are flooding the Philippine market. Pioneer Float Glass has written a letter to Lopez requesting the return of the product on the list of imports up for mandatory certification.

House bill to cut ‘red tape’ on power project approval hurdles final reading

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he House of Representatives has approved on third and final reading House Bill 8417, or the Energy Virtual One Stop Shop (eVOSS), that seeks to provide a faster and more efficient application and processing time for power-generation projects. AKO Bicol Party-list Rep. Rodel M. Batocabe, principal author of the measure, said eVOSS would also cut project expenses and eliminate red tape. The measure, approved last Tuesday, will be transmitted to the Senate for its own deliberations. Batocabe is also confident that if enacted into law, eVOSS will ultimately result in lower energy prices for consumers. Under the proposed bill, an online eVOSS system, under the supervision of the Department of Energy, will be established for a simplified and streamlined submission and processing of documents required

for power generation, transmission and distribution projects. According to Batocabe, “It is important to attract greenfield power generation developers and fast-track the construction of power plants. However, a barrier to the entry of new plants is this lengthy and tedious permitting process coupled with numerous documentary requirements.” The bill, Batocabe said, also seeks to address the time-consuming and lengthy permitting process by eliminating redundancy, providing an easy online platform for government approval and utilizing a paperless processing system. “This will eventually give new power generation developers an easier time to start their power generation projects,” he said. For his part, Marinduque Rep. Lord Allan Q. Velasco, chairman of the House Committee on Energy, as well as coauthor of this bill, said the

expected increase in economic activity entails an increase in energy demand. “As such, it is important to attract power generation developers, as well as fast-track the construction of power plants,” he said. However, Velasco said it has been observed that it takes hundreds of signatures and dozens of permits from different government offices for energy resource investors who want to put up power plants, thus, discouraging many power generation companies to invest in the Philippines. “We want to streamline the lengthy permitting process and reduce the cost of doing business for generation companies, which, in turn, would encourage competition by attracting more power generation companies to invest in the country, and would indirectly reduce generation charges as a result of reduced cost of business,” he added. Jovee Marie N. dela Cruz

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Editor: Vittorio V. Vitug • Friday, November 23, 2018 A5

Senators keen to grill Duterte Cabinet on 29 China deals

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By Butch Fernandez @butchfBM & Bernadette D. Nicolas @BNicolasBM

ENATE President Pro Tempore Ralph Recto signaled on Thursday that senators are keen to grill Duterte Cabinet officials on details of the 29 deals forged by the Philippines and China during the recent Manila visit of Chinese President Xi Jinping. “If the Senate will start floor debates on the 2019 national budget next month, then the particulars of any or all of the 29 Philippine-China deals signed during Chinese President Xi Jinping’s state visit may be asked of the Cabinet member who signed the deal, or whose agency is responsible for implementing the agreement,” said Recto. “This is to serve notice to department secretaries that the issue of the 29 agreements may crop up in the course of the plenary examination of their budget. So be prepared for queries,” he added. The Senate President Pro Tempore added that senators would be more interested “if the agreement binds us to a project which will be financed by loans, enlarges the national debt or requires large budgetary counterpart requiring yearly appropriations.” He said the senators will likewise seek confirmation that the arrangement will benefit Filipinos. “Is the project really needed by the people? Or is it supplier driven?” Sen. Recto asserted that “the price tag of these commitments must be explained, as well as the benefits to the public. If these are grants and interest-free loans, then the Senate will be advised as well so that we can convey our thanks.” He added that “a senator during the budget debate can focus a powerful spotlight on these agreements.”

‘Reveal all deals’

MEANWHILE, Sen. Francis G. Escudero urged the government to reveal to the public the details of all the bi-

lateral agreements signed between Manila and Beijing, particularly the memorandum of understanding (MOU) on possible energy cooperation in the West Philippine Sea. “In the name of the people, we ask the government to reveal all the agreements signed, especially the joint exploration deal. Only then can anyone comment intelligently on whether the agreement is good or not,” Escudero said in Filipino. On the first day of Chinese President Xi’s two-day visit here, the administration inked 29 bilateral deals with the Beijing government, including the joint oil and gas exploration. Escudero recalled that during the Arroyo administration, the Philippines, China and Vietnam entered into an agreement to jointly conduct oil offshore exploration covering both disputed and undisputed waters, also known as the Joint Marine Seismic Undertaking. However, he said, the agreement was between the countries’ respective oil companies. He also warned of the possible implications of the MOU on the joint oil and gas development between Beijing and Manila on the Philippines’s claims in the West Philippine Sea. While the government cannot enforce the ruling of the international court that grants the Philippines ownership over territories in the disputed sea, the least the government can do is to assert its claim in the policy speeches and declarations because this is what the Filipino people are expecting, he said.

Just initial understanding

MALACAÑANG said there is still a chance to walk away from the signed agreement with China on cooperation on oil and gas development in the West Philippine Sea if it is detrimental to the country’s interest. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo explained in a briefing that the signing of the MOU just meant that the there is an initial understanding that both parties agreed to agree on certain things and the country can still rescind it, since it is not legally binding. “Of course, it should always be in favor of us and not just in favor of them,” he told reporters in a chance interview. “According to President Xi during the bilateral agreement,thetalksbetweenthetwo countries will be based on mutual respect, mutual fairness and respect for each other’s sovereignty.” Asked how soon will the President lift the moratorium to explore in the West Philippine Sea, Panelo said: “If [it is] the recommendation of the SFA [secretary of foreign affairs] and the President thinks it is best suited to pursue and make forward our interests, he will do it. The President listens to advice and recommendations coming from members of his cabinet. But ultimately it’s the President’s call and always based on whether or not it is for the best of the country.” He also said it is still premature to make judgments on the MOU since both parties are still in the process of negotiating. Nonetheless, he said he agreed with Foreign Affairs Secretary Teodoro L. Locsin Jr. that the MOU will take into consideration the 2016 arbitral ruling. “As I have repeatedly said, the arbitral ruling is there forever, permanently. Nobody can take that away from us,” he said. He also noted that the actual joint venture would not start anytime soon since it needs to be carefully studied. “We have to very sure that, one, it is constitutionally firm, [and] number two, if we will really benefit from it,” he said.

Duterte fires HUDCC chief P RESIDENT Duterte has fired Housing and Urban Development Coordinating Council (HUDCC) Secretary-General Falconi V. Millar amid corruption allegations. In his speech during the inauguration of the Cavite Gateway Terminal on Thursday, Duterte said he had just signed Millar’s termination paper before attending the event. “For all of you, disabuse your minds about corruption in government. [Here in the] Executive department, we don’t have [and we don’t tolerate] that. Just before I left my office, I signed a dismissal order of secretarygeneral of housing, a certain Millar,” Duterte announced. He, likewise, expressed his frustration on fulfilling his word to fight corruption in his administration. “I practically fire almost every month the top echelon [members of my administration]. I was busy attending to all the corruption,” he said. “Despite and in spite of my warnings, every month I fire [some of my officials],” Duterte said. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo reiterated, “There are no sacred cows in the administration, especially in its drive against corruption.” “As the President said, he will not tolerate even a whiff of corruption in the Executive branch of government.… The President’s [termination on Millar’s appointment] takes effect immediately,” Panelo said in a news statement.

Since the HUDCC is one of the lead agencies tasked with the Marawi City rehabilitation, Malacañang immediately allayed fears that the delivery of services there will be affected. “We assure the public that the delivery of public services shall…continue, especially in rehabilitating Marawi City and other affected areas,” Panelo added in the same statement. Millar, however, for his part, said his dismissal was a result of “an obvious demolition job,” and clarified that he had already tendered his resignation prior to Malacañang’s announcement. “In protecting the interest of the government, I have annoyed some personalities, [and] I filed my resignation this morning,” he said in a message shared to reporters. As of press time, there were no details yet on the corruption allegations against Millar. The announcement came just a few days after Duterte said he would fire another government official as soon as he returns to the Philippines from his visit to Papua New Guinea. Meanwhile, the Cavite Gateway Terminal (CGT), the country’s first and only container barge port, was formally opened on Thursday. The P1.5-billion ($30 million) common-use greenfield development by International Container Terminal Services Inc. (ICTSI), has the capacity to accommodate 115,000 twenty-foot equivalent units (TEUs) of containerized cargo. Once fully operational, the CGT will

facilitate the seaborne transport of containers from Cavite to major Luzon port facilities—for faster, more costeffective access to the Cavite market. Containerized cargo may now utilize Manila Bay sea lanes to facilitate the transfer of inbound and outbound cargo going to and from the Cavite market. By moving cargo and people out of the roads and into the waterways, it would decongest traffic in Metro Manila roads projected to be more than 140,000 truck trips annually. It is also expected to reduce road traffic by almost 2 kilometers of trucks once its fully operational. The “strategic” choice of Tanza municipality in Cavite for the terminal considered the presence of a number of major economic zones within 5 to 30 kilometers of its radius—among which includes the Cavite Export Processing Zone in nearby Rosario and First Cavite Industrial Estate in Dasmariñas. Without the constraints of Metro traffic, businesses in major export zones can expect faster delivery times of their containerized cargo as cargo moves easily from port to port. Through roll-on, roll-off barges, CGT maximizes this role with strategic direct port-to-port customer service and seamless cargo transfers to the Port of Manila via the Manila International Container Terminal, ICTSI’s flagship and the only terminal in the country offering a multi-modal logistics solution; and Manila North Harbor Port (NorthPort), the country’s premier domestic terminal. Bernadette D. Nicolas

CA to decide on Honasan’s DICT appointment–Palace

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ALACAÑANG on Thursday released the appointment paper of Sen. Gregorio “Gringo” B. Honasan II, two weeks after he accepted President Duterte’s offer to head the Department of Information and Communications Technology (DICT). Duterte signed Honasan’s appointment paper on November 20, making him the second senator to get a Cabinet portfolio under the present administration. In May 2017 Duterte appointed Sen. Alan Peter S. Cayetano as foreign affairs chief but the latter eventually resigned to run as congressman of Taguig City in the 2019 midterm polls.

With Honasan’s appointment, the Senate will now be left with only 22 members, including detained Sen. Leila M. de Lima, who is facing illegal drugs-related charges. Honasan, a former military colonel, replaced acting DICT Secretary Eliseo M. Rio Jr. Under Rio’s supervision, Mislatel, a consortium composed of Udenna Corp. and Chelsea Logistics headed by Davao businessman Dennis Uy and China Telecom, got the government’s approval to become the country’s third major telco player. Mislatel will compete with Philippine Long Distance Telephone (PLDT) Inc. and Globe Telecom. Presidential Spokesman Salvador

Rice fund. . . continued from a1 She clarified that the lawmakers sit-

ting on the bicameral panel “want to ensure that the National Food Authority will buy buffer stocking from the local farmers. They want it specified there.” At the same time, the senator allayed concerns aired by farmers over “misconceptions” on the implementation of rice tariffication. “[There is a] Rice Competitiveness EnhancementFundbecauseweanalyzed why they are not competitive. Based on our study [they are not] competitive, [because their] labor cost [is higher] compared to Vietnam,” said Villar, adding: “So we are going to mechanize.” She explained that P5 billion of the P10 billion will go to mechanization so that the rice farmers can compete. “Because that is the highest cost difference, labor. And then P3 billion will go to seeds. [They will be taught to be] seed growers [of] inbred seeds from PhilRice,” Villar said. Per estimates, she said this “will increase their har-

vest from 4 metric tons to 6 metric tons per hectare.” The senator surmised that restive farmers may have been misinformed because they have not yet read the law. “Hindi nila binasa. Masyado sila ano na tinatanggal daw ang power ng NFA, tapos bakit daw binigay sa PhilMech at PhilRice iyong budget. Sila naman talaga ang agency na na-create ng Afma at Afmech, sila iyong two agency na kinreate to take care of mechanization and to take care of development of seeds.” [They didn’t read it. They focused on the NFA powers being removed; and then asked why the budget was being given to PhilMech and PhilRice. But these are the agencies created by the Afma and Afmech; these agencies were created to take care of mechanization and to take care of development of seeds.” She added the farmers may have misunderstood the provisions in the law. “They didn’t understand that it’s really the agency that must get these

S. Panelo said Duterte appointed Honasan based on “trust and confidence and integrity.” He sa id quest ions on t he 70-year-old lawmaker’s competence in the field of information and communication will be up to the Commission on Appointments (CA), a congressional body. “It is not for us to decide on that. It will be the Commission on Appointments. There will be vetting and he’ll have to respond to the questions on his competence,” Panelo said in a Palace news briefing on Thursday. “When the President nominates, it’s for the Commission on Appointments to approve the nomination,” he added. PNA

funds,” she said in a mix of English and Filipino. “It’s still under the Department of Agriculture but [we already specify the] agency [that will receive it] so we can be sure they’ll be responsible; and we can determine who’s accountable if the law is not implemented,” she added. Villar also assured adequate safeguards and assistance for farmers in the new law. Under the mechanization, she said, they will get tractors, transplanters, harvesters, dryers, milling equipment. The machines will be given to the farmers’ associations and cooperatives. According to Villar, the final version of the certified bill is expected to be ratified by the Senate and the House way before Congress adjourns for the Christmas recess on December 12. “They hope to finish it this afternoon [Thursday] or tomorrow morning. Then we will route it to the members of the bicameral committee for signing, then we ratify.”

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Agriculture/Commodities

Friday, November 23, 2018 • Editor: Jennifer A. Ng

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Piñol: Puregold gets govt nod to import rice

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By Jasper Emmanuel Y. Arcalas @jearcalas

HE National Food Authority Council (NFAC) said it has approved only 15,000 metric tons out of the 300,000 MT it has allowed to be shipped into the country under the Department of Trade and Industry’s (DTI) importation scheme. NFAC Chairman and Agriculture Secretary Emmanuel F. Piñol said traders who wanted to participate in the program lacked the necessary requirements. So far, Piñol said only Puregold has been given the go signal to import rice under the DTI’s out-quota rice importation program. “The problem was that they did know that the National Food Authority requires rice importers to have a warehouse,” Piñol told reporters in a recent interview. The warehouses, according to Piñol, should be adequate enough to store rice that traders would import. The NFAC has relaxed the requirements for importers to bring

in rice into the country. These requirements relate to financial capacity, warehouse capability and retailing capability. Despite the failure of interested traders to meet the government’s requirements, the NFAC has no plans to abolish the importation program, which has no deadline, according to Piñol. Under the DTI’s rice importation program, interested parties could ship the staple into the country on the condition that they would sell it at P38 per kilogram. “This was approved long before we have decided on the out-quota program. Since it has been approved, why would we retract it?” Piñol said. “We will allow the DTI

to use that program. The purpose of the program is good if implemented properly.” Piñol said Robinsons Supermarket has signified interest to participate in the DTI’s rice importation program. The DTI’s rice importation program is in line with President Duterte’s Administrative Order 13 that seeks to make available affordable farm goods at the retail level. In October Trade Secretary Ramon M. Lopez said the agency’s rice importation program would be implemented on a staggered basis, with 100,000 MT arriving before November. L opez d isc losed t hat fou r groups have signified interest to

partake in the DTI’s rice importation program. Some of the groups include Philippine Consumer Centric Traders Association, Robinson Supermarket and Puregold. The NFAC approved last month the importation of 350,000 MT of rice by the private sector under the DTI’s program. Dubbed as “Presyong Risonable Dapat” or PRD, the DTI would endorse to the NFA the importerparticipants under the program. The DTI will submit names of their partners and they will be in charged for the selection of their partners, Piñol said. The NFA will be issuing permits to whoever will be recommended by the DTI to participate in this program.”

BLOOMBERG NEWS

Science advocates call for genuine fisheries reforms

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GROUP of science advocates urged the Duterte administration on Thursday to implement genuine fisheries reform and preferential fishery rights for municipal fishermen. The Agham-Advocates of Science and Technology for the People made the call a day after the observance of the World Fisheries Day on November 21. The group said preferential fishery rights for municipal fishermen can be demonstrated by dedicating the 15-kilometer municipal waters for municipal and artisanal fishing only. The government should also reorient commercial fishing to help domestic demand and adopt sustainable rehabilitation policies that put great consideration on the livelihood of municipal and artisanal fishers. “We demand the Duterte administration to put an end to bogus partnerships with foreign powers such as China that places the livelihoods and food security of Filipino people at a marked disadvantage,” Agham said in a statement. World Fisheries Day, ironically, coincided with Chinese President Xi Jinping’s state visit to the Philippines. On Wednesday several agreements were forged between Manila and Beijing, one of which includes the joint exploration for oil in the West Philippine Sea, Agham said. “People’s organizations expressed concerns over such agreement which lends credence to China’s illegal claims over our territorial waters. Such deal gravely disadvantages our fishing communities, such as the incident last May when Chinese vessels harassed and even extorted Filipino fishermen,” the group said. Aside from China’s encroachment of our fishing grounds, Filipino fishermen face major concerns at home, Agham said. “The Philippine fisheries sector is currently suffering from a continuous decline in production. Catch of important fish species has declined, reflected on the issue of galunggong importation three months ago,” the group said. Jonathan L. Mayuga

Subsidies extended to agribusinesses down 35%–PSA By Cai U. Ordinario

@cuo_bm

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ESPITE government pronouncements that the farm sector needs support to boost output, subsidies extended by the state to agribusinesses declined by 35 percent in 2016, according to a report released by the Philippine Statistics Authority (PSA). Based on the preliminary results of the 2016 Annual Survey of Philippine Business and Industry (ASPBI) for the Agriculture, Forestry and Fishing Sector with Total Employment (TE) of 20 and over, subsidies extended to agribusinesses declined to P2 billion in 2016 from P3.1 billion in 2015. This was the lowest support given by the government to the industry since 2010, when it granted a subsidy of only P622.8 million. The largest subsidy given to the sector was in 2013 at P6.3 billion. “Subsidies are all special grants in the form of financial assistance or tax exemption or tax privilege given by the government to aid and develop an industry,” the PSA explained. Data showed that out of the 8 major industry groupings for the sector, only 3 were recipients of subsidies in 2016. These were support activities to agriculture and postharvest crop activities with P1.9 billion, or 96.6 percent of total grants extended to the sector. Other industries that benefited from the subsidies were fishing with P63.6 million, or 3.2 percent of the total and growing of perennial crops with P4.6 million, or 0.2 percent. The total value of output generated by Agriculture, Forestry and Fishing establishments with TE of 20 and over reached P129.8 billion in 2016. By industry group, the highest value of output was generated by growing of perennial crops worth P57.6 billion, or 44.4 percent of the

total. The PSA said this was followed by animal production with P37.4 billion, or 28.8 percent, and growing non-perennial crops ranked third with P13.5 billion, or 10.4 percent. The top 3 regions in terms of value of output in 2016 were all in Mindanao, with a combined value of output of 60.2 percent of the total. Davao region generated the highest value of output worth P33.7 billion, or 26 percent, followed by Northern Mindanao and Soccsksargen with 19.8 percent, or P25.7 billion and 14.4 percent, or P18.7 billion, respectively. The PSA said there were 1,129 establishments with TE of 20 and over in the formal sector and engaged in Agriculture, Forestry and Fishing activities. Among the industries, animal production led the sector with 374 establishments, accounting for 33.1 percent of the total. Growing of non-perennial crops and growing of perennial crops followed with 303, or 26.8 percent, and 192, or 17 percent, of total establishments, respectively. The remaining 23.1 percent, or 260 establishments, were engaged in fishing, 115 establishments, or 10.2 percent; support activities to agriculture and postharvest crop activities, 91 establishments, or 8.1 percent; aquaculture, 47 establishments, or 4.2 percent; and silviculture and other forestry activities and support services to forestry, seven establishments, or 0.6 percent of the total. The data collected from the ASPBI survey provide information on the levels, structure, performance and trends of economic activities of the formal sector in the entire country for the year 2016. The 2016 ASPBI survey was conducted nationwide in 2017 with the year 2016 as the reference period of data, except for employment which is as of November 15, 2016.

Retail prices of fertilizer higher in October–report

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HE average retail price of four fertilizer grades in October rose by as much as 18.08 percent compared to year-ago levels, according to the Philippine Statistics Authority (PSA). “The average dealers’ prices of the four fertilizer grades at the national level generally went up in October 2018 compared [to] their levels in the previous month and in October 2017,” the PSA said in its monthly report, titled “Updates on Fertilizer Prices.” The average retail price of urea in October rose to a 31-month high of P1,075.88 per 50-kilogram bag, 18.08 percent higher than the P911.12 per bag quotation recorded a year ago. “The country’s monthly average dealers’ price of urea at P1,075.86/sack in October 2018 was higher by 1.94 percent from its level in the previous month,” the report read. “Compared with September 2018, the average dealers’ price of urea during the month went up in all regions except in Northern Mindanao,” it added. The PSA observed the highest price of urea in the Autonomous Region in Muslim Mindanao (ARMM) at P1,308.75 per bag, while the lowest price was recorded in Soccsksargen at P1,009.38 per bag. “Relative to a year-ago level, all regions posted higher prices this month,” the PSA said. The average retail price of complete fertilizer in October was pegged at P1,120.68 per bag, according to the PSA. The fertilizer cost P1,115.84 per bag in September and P1,086.84 per bag in October 2017. “This was higher by 0.43 percent from a month ago,” the PSA said. “On an annual basis, it likewise rose by 3.11 percent.”

The PSA said the highest price of complete fertilizer was recorded in ARMM at P1,383.33 per bag, while the lowest was registered in Cagayan Valley at P1,008.75 per bag. “Relative to previous month’s levels, price increases were noted in 11 regions,” it added. The October average retail price of ammosul was pegged at P615.64 per bag, 9.52 percent higher than the P562.15 per bag average quotation in the same period of 2017. The figure was also 0.99 percent over the P609.58 per bag average price level recorded in September. “Except Mimaropa and Northern Mindanao, all regions recorded higher prices in October 2018 than in the previous month,” it said. “The highest price of P913.75/sack was still noted in ARMM. Meanwhile, the lowest price of P530.94/sack was registered in Cagayan Valley. Relative to the prices in the same month of the previous year, all regions registered increases,” it added. The national average retail price of ammophos in October reached P960.22 per bag, which was 1.05 percent higher than the P950.21 average quotation in the previous month. On an annual basis, the figure was 7.02 percent higher than the P897.23 per bag recorded last year. “On a monthly basis, higher prices were posted in 14 regions in October 2018,” the PSA said. “The highest price during the month of P1,182.50/sack was still observed in ARMM while the lowest, at P868.13 sack, was recorded in Cagayan Valley.” “Compared from a year-ago level, all regions, except CAR, exhibited higher prices during the period,” it added. Jasper Emmanuel Y. Arcalas

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The World BusinessMirror

Editor: Angel R. Calso • Friday, November 23, 2018 A7

Oil trades below $55 as US inventories gain and President Trump demands lower prices

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IL traded below $55 a barrel as expanding American crude inventories added to the bearish sentiment with another tweet from Donald J. Trump calling for even lower prices. Futures fell as much as 0.6 percent in New York, after Wednesday’s 2.3-percent gain pared some of the losses from a rout earlier this week. America’s crude inventories increased for a ninth straight week,

the longest rising streak since March 2017, according to government data released on Wednesday. Meanwhile, President Trump thanked Saudi Arabia for lower oil prices in his tweet, but also said, “let’s go lower!”

Crude entered a bear market this month on concerns over a potential supply glut. While traders expect Iranian oil to flow back into the market under America’s temporary waivers to some nations, the Organization of the Petroleum Exporting Countries and its allies will seek ways to reach a balance when they meet next month in Vienna. All options are on the table for the producer group’s discussion, ranging from no cuts to a joint reduction of 1.4 million barrels a day, according to Citigroup Inc. “Stakes are being raised after Trump’s comment, and certainly the market is a little bit concerned

that Saudi Arabia might not drive a strong stance around production cuts,” Daniel Hynes, a senior commodities strategist at Australia & New Zealand Banking Group Ltd., said by phone from Sydney. “Prices have probably found a base here and they’re going to offload around it until they see details on the supply side.” West Texas Intermediate (WTI) for January delivery lost as much as 35 cents to $54.28 a barrel on the New York Mercantile Exchange, and was at $54.53 at 3:39 p.m. in Singapore. There will be no settlement for the contract on Thursday due to US Thanksgiving holiday. The contract rose $1.20 to $54.63 on Wednesday,

after plunging 6.6 percent in the previous session. Total volume traded was 21 percent below the 100-day average. Brent for January settlement dropped 19 cents, or 0.3 percent, to $63.29 a barrel on the London-based ICE Futures Europe exchange. The contract settled 1.5 percent higher at $63.48 on Wednesday. The global benchmark crude traded at an $8.79 premium to WTI for the same month. In the US nationwide inventories rose 4.85 million barrels last week to about 447 million barrels, according to Energy Information Administration data. That’s bigger than a 3.45-million-barrel gain

expected in a Bloomberg survey. Still, that was about half the increase of the prior week and gasoline and distillate stockpiles declined, suggesting demand for petroleum remains resilient. Trump said earlier he won’t let the killing of US-based journalist Jamal Khashoggi jeopardize America’s relations with Saudi Arabia as oil prices may “go through the roof.” His tweet came after the kingdom’s crude output was said to surge to a record near 11 million barrels a day this month, following strongerthan-usual demand from its clients who were preparing for a disruption in Iranian supplies. Bloomberg News

Trump’s embrace of Saudi Arabia Interpol’s flaws exposed in fight over presidency causes fissure in Republican Party D

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ASHINGTON—President Donald J. Trump’s embrace of Saudi Arabia has exposed a foreign policy rift in the Republican Party, as some of his GOP colleagues warn that not punishing the kingdom for its role in killing a US-based columnist will have dangerous consequences. Many Republicans—even Sens. Lindsey Graham and Rand Paul, who share their views on the matter with the president—have denounced Trump’s decision not to levy harsher penalties on Saudi Crown Prince Mohammed bin Salman over the death and dismemberment of Jamal Khashoggi inside the Saudi Consulate in Istanbul. Sen. Bob Corker, the Republican chairman of the influential Senate Foreign Relations Committee, said on Wednesday that he was “astounded” by Trump’s statement and likened it to a press release for Saudi Arabia. “It is a delicate situation when we have a long-term ally that we’ve had for decades, but we have a crown prince that I believe ordered the killing of a journalist,” Corker told Chattanooga TV station WTVC in his home state of Tennessee. “We don’t have a smoking gun. Everything points to the fact that he knew about it and directed it.” Secretary of State Mike Pompeo defended Trump’s decision, saying the US has already placed sanctions on 17 Saudi officials suspected of involvement in the October 2 killing of The Washington Post columnist, who had been critical of the royal family. “We’ve sanctioned 17 people— some of them very senior in the Saudi government,” Pompeo said on Wednesday in a radio interview with KCMO in Kansas City, Missouri. “We are going to make sure that America always stands for human rights.” Graham, R-S.C., isn’t convinced. “When we lose our moral voice, we lose our strongest asset,” he said. Members of both parties have accused Trump of ignoring US intelligence that concluded, according to one US official, it was likely the crown prince ordered the killing. Several lawmakers have indicated that the US has no “smoking gun”

that proves he was responsible, but they have called on the CIA and other top intelligence agencies to publicly share what they told the president about the slaying. In his statement on Tuesday, Trump argued that punishing Saudi Arabia by “foolishly canceling” Saudi arms deals worth billions of dollars to the US would only benefit Russia and China. Critics, including highranking officials in other countries, accused Trump of ignoring human rights and giving Saudi Arabia a pass for economic reasons. It’s “America First,” Trump said. That unleashed a tweet on Wednesday from Democratic Rep. Tulsi Gabbard of Hawaii who wrote: “Being Saudi Arabia’s bitch is not ‘America First.’” Trump also said the US needs Saudi Arabia’s help to counter Iran in the region, fight extremism and keep oil prices steady. The US, Russia and the Saudis have boosted oil production in anticipation of sharply lower exports from Iran due to US sanctions reinstated after Trump exited the Iran nuclear deal. Trump publicly thanked Saudi Arabia on Wednesday for plunging oil prices. However, the Organization of the Petroleum Exporting Countries, the cartel of oil-producing countries, could announce production cuts at its December 6 meeting in Vienna, nudging prices upward. “Thank you to Saudi Arabia, but let’s go lower!” he wrote from his Mara-Lago club in Palm Beach, Florida, where he’s spending Thanksgiving. Criticism of the president will likely resume after the holiday when lawmakers return to Capitol Hill early next week. “Congressional Republicans will have to do a gut check,” Jon Alterman, director of the Middle East Program at the Center for Strategic and International Studies, said on Wednesday. “The Republican Party has believed for more than 50 years that morality was one of the reasons the United States won the Cold War. And the president walked away from that.” Some lawmakers are already fighting back. Twenty-two members of the Senate—11 Republicans and 11 Democrats—have triggered

investigations into Khashoggi’s death and specifically whether the crown prince was responsible. The investigations were requested under provisions of the Global Magnitsky Human Rights Accountability Act. The act requires the president to report back to the Senate Foreign Relations Committee within 120 days—in this case by February 7— on whether the crown prince was responsible for an extrajudicial killing, torture or other gross violation of internationally recognized human rights against an individual exercising freedom of expression and the administration’s decision on whether sanctions are warranted. Moreover, three Democrats and three Republicans, who say sanctions, which include a ban on travel to the US, imposed so far are insufficient, have introduced the Saudi Arabia Accountability and Yemen Act of 2018. Among other things, the bill calls for suspending weapon sales to Saudi Arabia and imposing mandatory sanctions on all those responsible for Khashoggi’s death and those blocking humanitarian access to Yemen. Democrats going against the president is expected, but Republican outrage will be more difficult for Trump to shrug off. Before leaving for the holiday, Paul, R-Ky., lamented to The Associated Press that Trump didn’t accept the counsel he received from both him and Graham—two Republicans often at odds on foreign policy. Graham has said the crown prince is “irrational” and “unhinged” and warns there will be strong, bipartisan support in Congress for harsher sanctions against Saudi Arabia and members of the royal family. Paul typically eschews US intervention abroad, but views Khashoggi’s death as one in a long line of malign activities by Saudi Arabia topped by its war in neighboring Yemen where civilians are being killed by Saudi airstrikes. “He’s been hearing from both myself and from Lindsey Graham — two different sides of the foreign policy spectrum — and yet we get this,” Paul said about Trump’s statement in support of Saudi Arabia. “We really have to reconsider what we’re doing.” AP

UBAI, United Arab Emirates—The US won, Russia lost and Interpol narrowly escaped disaster—that’s the upshot of an unusually high-drama vote for the international police agency’s president, dominated by fears that Russia wants to turn Interpol into a tool to hunt down its enemies. While rights groups and Kremlin critics celebrated the surprise victory of South Korean candidate Kim Jongyang over his Russian rival, the vote exposed flaws within Interpol that won’t vanish overnight. Now the pressure is on Kim and Interpol’s day-to-day boss, Secretary-General Juergen Stock, to fix them. The White House came out publicly against the candidacy of Kim’s Russian rival, Alexander Prokopchuk. After the election, Secretary of State Mike Pompeo called Kim “the right man to lead one of the world’s most critical law-enforcement bodies in its mission to preserve the rule of law and make the world a safer place.” For Interpol, the vote staved off possible collapse, after rumblings from some member countries about quitting the agency. The vote shows that members “thought really hard about whether they want to back away from this institution or make sure it’s run properly and operate fairly,” said Jago Russell, chief of Fair Trials International, which has championed and monitored Interpol’s reform efforts. Authoritarian governments have long sought to leverage Interpol’s reach—and notably its system of “red notices” that flag suspects for arrest wherever they go—for political ends. While it has tried to clean up this system, it remains vulnerable to pressure from powerful member states: Its last president vanished in China in a possible political purge, while Interpol quietly looked on. Stock, the secretary-general, acknowledged that “systems can be improved” but stressed that Interpol’s information-sharing systems have led to the arrest of 10,000 serious criminals so far this year. “It is fundamental to Interpol’s existence that we are neutral and that we are independent,” he insisted. That was a central argument for the US and governments in Europe and elsewhere who lobbied against

IN this January 23 photo, Kim Jong-yang, the senior vice president of Interpol executive committee, speaks during a press conference in Changwon, South Korea. On November 21, Interpol elected Kim as its president in a blow to Russian efforts at naming one of their own. AP

Russian security service veteran Prokopchuk. The Western powers warned that a Russian victory would have led to further abuses of Interpol by the Kremlin, seeking to go after political opponents and fugitive dissidents. Russia accused its critics of overly politicizing the vote and campaigning to discredit Prokopchuk, calling him a respected professional. Russian officials were subdued in their response to the vote, and it got only modest attention in the state-dominated media. South Korea’s government called Kim’s election a “national triumph” that could elevate the country’s international standing. Kim secured at least two-thirds of votes cast at Interpol’s general assembly in Dubai, though the agency does not release how member states voted. The new president is unlikely to make immediate change, though. Kim had already been the acting president, and Interpol’s president has more of an oversight role than a hands-on position. Meanwhile, Prokopchuk will remain an Interpol vice president. But watchdog groups say there’s no time to lose. “Interpol has for too long traded on its James Bond image, the global good guys fighting crime,” said Russell of Fair Trials International. “That reputation needs to be underpinned with meaningful rules to prevent abuse.... I hope that this vote

further focuses the mind on the need to do that.” Kim will serve until 2020, completing the four-year mandate of his predecessor, Meng Hongwei, who was detained in China as part of a wide anti-corruption sweep there. Based in the French city of Lyon, the 95-year-old policing body is best known for its “red notices” that identify suspects pursued by other countries, effectively putting them on a global “most-wanted” list. Critics say countries like Russia, Turkey, Egypt, Iran and China have used the system to try to round up political opponents, journalists or activists. Interpol’s rules prohibit the use of police notices for political reasons, and the agency has toughened rules to enforce that. However, countries can issue requests—known as “diffusions”— that flag a person wanted for arrest, before Interpol reviews the notice, leading to what critics say is a major loophole in the system. “We accept the fact that systems can be improved and recognize that a very small number of noncompliant red notices can seriously affect the lives of innocent citizens,” Stock said. Bill Browder, who runs an investment fund that had once operated in Moscow, says Russia used the diffusion system against him, which led to his brief arrest in Spain earlier this year. AP

The World BusinessMirror

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British PM praises progress in Brexit negotiations, but still no breakthrough

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ONDON—British Prime Minister Theresa May said on Wednesday that she has made fresh progress in Brexit talks at a meeting with European Commission President Jean-Claude Juncker, as negotiators try to pin down an agreement that EU leaders can rubber-stamp this weekend. The UK and the European Union agreed last week on a 585-page document sealing the terms of Britain’s departure, but are still working to nail down a separate political declaration on their future relations after Brexit on March 29. “Further progress has been made,” May said in a brief statement after her meeting in Brussels with Juncker, but she added that “there are some further issues that need resolution.” May said the two sides have “given sufficient direction to our negotiators. I hope to be able to resolve the remaining issues, and that work will start immediately.” The meeting with Juncker lasted just over 90 minutes. May said she will return to Brussels on Saturday for more talks, including with the commission president, “to discuss how we can bring to a conclusion this process and bring it to a conclusion in the interests for all our people.” An EU summit is planned for Sunday, but May shed no light on whether it will still go ahead. As wrangling continued over issues including Gibraltar and fishing rights, European Commission Vice President Valdis Dombrovskis said on Wednesday that the text on future relations was “not there yet.” He said diplomats would meet on Friday to prepare Sunday’s summit, and “they will need to see a final text

before then.” “The commission stands ready to consider the text and take any action at any time,” he said. At home, May is under intense pressure from pro-Brexit and proEU British lawmakers, with large numbers on both sides of the debate opposing the divorce deal. Brexiteers think it will leave the UK tied too closely to EU rules, while pro-Europeans say it will erect new barriers between Britain and the bloc—its neighbor and biggest trading partner. May fended off a barrage of criticism from both opposition and government legislators on Wednesday during her weekly Commons question-and-answer session dominated by Brexit. Opposition Labour Party leader Jeremy Corbyn branded the agreement “half-baked”—and said his party could negotiate a better one— while Conservative Andrew Rosindell urged May to ditch the plan and remove “the tentacles of the EU over our cherished island nation.” May replied that “we want to ensure we continue to have a close trading relationship with the European Union” after Brexit. She said the alternative to the agreement was either “more uncertainty, more division or it could risk no Brexit at all.” Madrid has raised objections to

EUROPEAN Commission President Jean-Claude Juncker (right) greets British Prime Minister Theresa May on arrival at EU headquarters in Brussels on November 21. AP

wording in the agreement about Gibraltar, the tiny territory at the tip of the Iberian Peninsula that was ceded to Britain in 1713 but is still claimed by Spain. Last year’s EU guidelines on the Brexit negotiations effectively gave Spain veto powers over future relations between the bloc and the British overseas territory, and the Spanish government says it will vote against the Brexit deal if Gibraltar’s future isn’t considered a bilateral issue between Madrid and London. Spanish Prime Minister Pedro Sanchez said on Tuesday that his government “cannot accept that what will happen to Gibraltar in the future depends on negotiations between the UK and the EU.” But May reassured British lawmakers that “we will not exclude Gibraltar from our negotiations on the future relationship.”

Spain’s EU Affairs State Secretary, Luis Marco Aguiriano, said there was still time to “legally clarify” the agreement before Sunday. The deal also needs to be approved by the European and British Parliaments—a tough task for May, whose Conservatives lack a majority in the House of Commons. May won a reprieve from some of her Conservative Party foes after pro-Brexit rebels acknowledged that a bid to trigger a no-confidence vote in May had failed, for now. But Northern Ireland’s Democratic Unionist Party—whose 10 lawmakers prop up May’s minority government—has begun abstaining on votes in the House of Commons as a sign of their displeasure at the deal. The DUP opposes plans for keeping the border between Northern Ireland and EU member Ireland open after Brexit, saying it

weakens the ties binding the UK by creating separate trade rules for Northern Ireland. The prospect of Parliament rejecting the deal when it comes up for a vote—likely next month—has increased fears among businesses that Britain could crash out of the bloc without a plan to keep trade running smoothly. Conservative lawmakers loyal to May also warned that defeating the agreement could mean that Brexit never happens, because Parliament would halt Britain’s departure rather than accept a chaotic “no-deal” exit. “I think people will take a careful look over the abyss...and consider whether they think it is in the best interests of the whole country,” Work and Pensions Secretary Amber Rudd said. “The Brexiteers may lose their Brexit,” she added. AP

Mars landing comes down to final 6 minutes of 6-month journey

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APE CANAVERAL, Florida—It all comes down to the final six minutes of a sixmonth journey to Mars. National Aeronautics and Space Administration (Nasa) InSight spacecraft will enter the Martian atmosphere at supersonic speed, then hit the brakes to get to a soft, safe landing on the alien red plains. After micromanaging every step of the way, flight controllers will be powerless over what happens at the end of the road on Monday, nearly 100 million miles (160 million kilometers) away. The communication lag between Mars and Earth is eight minutes. “By the time we hear anything, the whole thing is already done,” said project manager Tom Hoffman of Nasa’s Jet Propulsion Laboratory. “Either it happened or it hasn’t happened.” Any small last-minute adjustments must be completed one-and-a-half hours before touchdown, said Rob Grover, lead engineer for the landing team. “All of our efforts to make sure we’re successful all happen in the years before,” he explained. A brief rundown of Insight’s door-die entry, descent and landing:

Six minutes before touchdown InSight will come in like a 12,300-mph (19,800-kph) arrow, piercing the top of the Martian atmosphere about 77 miles (114 kilometers) above the surface. Engineers are shooting for a 12-degree angle of attack, almost parallel to the ground. Too steep, the spacecraft could burn up. Too shallow, it could bounce back into space. Atmospheric friction slows the spacecraft, but builds up heat. Its heat shield is made to withstand the 2,700 degrees Fahrenheit (1,500°C). Once InSight is down to seven miles (11 kilometers), its parachute opens at a breakneck 860 mph (1,400 kph). Three minutes Shortly after the white nylon chute opens

provides optimal sunlight for solar energy. “It’s a very safe place to land,” Grover said at a press conference on Wednesday.

Touchdown! It will be around 2 p.m., Mars time, when InSight lands. That’s 3 p.m. on the US East Coast and noon for the JPL flight controllers in Pasadena, California. Nasa estimates temperatures could be in the teens or even single digits Fahrenheit (well below zero Celsius). Overnight lows could reach minus 140 degrees Fahrenheit (minus 96 degrees Celsius.) It’s wintertime on Mars. “Probably don’t need an umbrella, but you may need a coat and definitely recommend a spacesuit, too, if you’re there at the landing site,” Grover joked to reporters while describing the bone-dry Martian plain.

THIS illustration made available by Nasa in October 2016 shows the InSight lander about to land on the surface of Mars. Nasa’s InSight spacecraft will enter the Martian atmosphere at supersonic speed, then hit the brakes to get to a soft, safe landing on the alien red plains. After micromanaging every step of the way, flight controllers will be powerless over what happens at the end of the road, nearly 100 million miles away. NASA/JPL-CALTECH VIA AP

with a yank, InSight ditches its heat shield and unfolds its three legs. After two minutes of descending under the parachute, the spacecraft, still supersonic, starts using radar to determine speed and altitude, from about 1 1/2 miles (2 1/2 kilometers) up. Less than a minute remains until touchdown. With its speed now down to 134 mph (215 kph), the lander dumps its back shell and parachute. It is less than a mile (1 kilometer) above the ground. Forty-five seconds Almost immediately, InSight’s 12 descent engines start firing to further slow the lander and keep it away from the severed back shell, still

falling under the parachute. The lander turns itself so its solar panels will extend east and west at touchdown, and its robotic arm faces south. InSight’s speed is now 17 mph (27 kph), at an altitude of 164 feet (50 meters). Fifteen seconds Now in so-called constant velocity mode, InSight is aiming for a 5-mph (8-kph) touchdown in a plain near the equator called Elysium Planitia. There it will dig deep for heat measurements and scope out marsquakes over a full Martian year, or two Earth years. Nasa picked this spot because it should be relatively flat and free of big rocks that could hamper science operations. Parking near the equator

Hello? Hello? Since departing Earth in May, InSight has been shadowed by WALL-E and EVE, the first CubeSats to venture into deep space. The briefcase-size satellites named after the characters in the 2008 animated movie will pass within a few thousand miles (kilometers) of Mars, as InSight lands. Nasa hopes one or both relay InSight’s radio signals. If the experiment succeeds, flight controllers may be able to follow InSight’s descent and landing, although with a lag of more than eight minutes at best. Otherwise, news will trickle in from Nasa’s Mars orbiters. Say cheese: InSight’s first job, just several minutes after landing, is to take a picture. Ground controllers want to see what they’re up against. Big rocks or a hillside could interfere with the stationary lander’s geology experiments. Once the red dust settles about 16 minutes after touchdown, the lander will spread its solar panels and settle in for its first long winter’s nap at Mars. AP

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Trump spars with US CJ over their views on judiciary

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A SHING TON — President Donald J. Trump and Chief Justice John Roberts clashed in an extraordinary public dispute over the independence of America’s judiciary, with Roberts bluntly rebuking the president for denouncing a judge who rejected his migrant asylum policy as an “Obama judge.” There’s no such thing, Roberts declared on Wednesday in a strongly worded statement contradicting Trump and defending judicial independence. Never silent for long, Trump defended his own comment, tweeting defiantly, “Sorry Justice Roberts.” The pre-Thanksgiving dustup was the first time that Roberts, the Republican-appointed leader of the federal judiciary, has offered even a hint of criticism of Trump, who has several times blasted federal judges who have ruled against him. Before now, it has been highly unusual for a president to single out judges for personal criticism. And a chief justice’s challenge to a president’s comments is downright unprecedented in modern times. It seemed a fight that Trump would relish but one that Roberts has taken pains to avoid. But with Roberts’s court feeling the heat over the president’s appointment of Justice Brett Kavanaugh, Roberts and several of his colleagues have gone out of their way to rebut perceptions of the court as a political institution divided between five conservative Republicans and four liberal Democrats. Trump’s appointments to the Supreme Court and lower federal courts have themselves spurred charges that the courts are becoming more politicized. As the justice widely seen as closest to the court’s middle, Roberts could determine the outcome of high-profile cases that split the court. The new drama began with remarks Trump made on Tuesday in which went after a judge who ruled against his migrant asylum order. The president claimed, not for the first time, that the federal appeals court based in San Francisco was biased against him. Roberts had refused to comment on Trump’s earlier attacks on judges, including the chief justice himself. But on Wednesday, after a query by The Associated Press, he spoke up for the independence of the federal judiciary and rejected the notion that judges are loyal to the presidents who appoint them. “We do not have Obama judges or Trump judges, Bush judges or Clinton judges. What we have is an extraordinary group of dedicated judges doing their level best to do equal right to those appearing before them,” Roberts said. On the day before Thanksgiving, he concluded, “The independent judiciary is something we should all be thankful for.” Trump hit back from his resort home in Florida, questioning the independence of federal judges appointed by his predecessor and confirmed by the US Senate. He especially criticized judges on California’s 9th US Circuit Court of Appeals. “Sorry Chief Justice John Roberts, but you do indeed have ‘Obama judges,’ and they have a much different point of view than the people who are charged with the safety of our country,” the president tweeted. If the 9th Circuit judges are independent, he said, “why are so many opposing view (on Border and Safety) cases filed there, and why are a vast number of those cases overturned. ... these rulings are making our country unsafe! Very dangerous and unwise!” Trump has never been reticent about criticizing the judiciary. Last year, the president scorned the so-called judge who made the first federal ruling against his travel ban. During the presidential campaign, he criticized Roberts himself for the chief justice’s decisive vote in 2012 to preserve President Barack Obama’s health-care overhaul. Trump also referred to an Indianaborn judge of Mexican descent, who was presiding over a fraud lawsuit against Trump University, as a Mexican who would be unable to rule fairly because of Trump’s proposal to build a wall along the US-Mexican border. AP

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Editor: Dennis D. Estopace • Friday, November 23, 2018

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Labor dept forms unit vs child Tagum City stakes trafficking, labor in Mindanao claim to country’s

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By Samuel P. Medenilla

@sam_medenilla

NEWLY launched task force of the Department of Labor and Employment (DOLE) would address the “alarming” increase of illegal recruitment of minors in Mindanao. In a news conference, Labor Undersecretary Jacinto V. Paras announced the creation of its Task Force Against Illegal Recruitment of Minor Workers and Trafficking in Persons through DOLE Administrative Order 551. Chaired by Paras, the team is composed of representatives from the Philippine Overseas Employment Administration (POEA), Bureau of Local Employment, Overseas Workers Welfare Administration (OWWA), International Labor Affairs Bureau and the Bureau of Workers with Special Concerns. It is also coordinated with nongovernment organizations involved in the rescue of victims of illegal re-

cruitment and human trafficking like the Blas F. Ople Policy Center (BOPC). The DOLE said the creation of the task force was prompted by the spike in the number of recruited underaged and minors workers in Cotabato. “Despite efforts to eliminate illegal recruitment, trafficking in persons and recruitment of minor workers, reports indicate that these social menaces continue to proliferate and pose continuing threats to Filipino workers,” Paras said on Thursday. POEA Director Sherilyn Malonzo said they were able to register from June 18 to October 1 about 156 minors and underaged household service workers (HSWS) who were off-loaded by the Bureau of Im-

migration (BI) in the Ninoy Aquino International Airport and the Clark International Airport. Malonzo said the number of cases was unusual since it happened within the span of just five months. Most of the said victims are female Muslims bound for the Kingdom of Saudi Arabia and recruited as household service workers, she added. One hundred percent of their passports were issued by the Department of Foreign Affairs (DFA) Cotabato, according to Malonzo. The minors and underaged workers were able to by-pass the age restrictions for the deployment of HSWs abroad, set at 22 years old, by faking their age in their passports, she added. Malonzo said they already raised the issue at the local government unit and DFA in the province of Cotabato, which prompted them to implement the necessary preventive measures. Of the 85 agencies involved in the illegal recruitment of the concerned minors, she said some already have pending administrative cases or have been issued a preventive suspension, while their case is pending. The POEA and the BOPC attributed the growth in the number of illegal recruitment of underaged

HSWs to the conflict in Marawi City last year, which displaced thousands of residents. Other provinces currently being monitored by the POEA also due incidents of illegal recruitment are Maguindanao, Sultan Kudarat, Sulu, Basilan, Lanao del Sur, Sarangani, Zamboanga del Sur, Lanao del Norte, Zamboanga del Norte and South Cotabato. For its part, the OWWA was able to flag 24 recruitment agencies for also engaging in the deployment of minors. Paras said they are giving the erring agencies three months to address these violations before their names are published in newspapers. He also urged other recruitment agencies against practicing such illegal act or risk facing similar sanctions. BOPC Head Susan Ople lauded the creation of the new task force, which she said will complement their antiillegal recruitment campaign. “We are currently handling cases involving human trafficking of workers to China as DH [domestic helpers], and we also have our cases involving the recruitment and deployment of minors to the Middle East,” Ople said. “Definitely there is room for collaboration.”

Davao inks sisterhood ties with SM founder’s birthplace

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AVAO CITY—President Duterte’s daughter, Mayor Sara Z. DuterteCarpio, signed a twinning agreement between Davao City and Jinjiang City on November 13 at the Fliport Hotel in Jinjiang, where retail tycoon Henry Sy traces his roots. Jinjiang Chinese People’s Political Consultative Conference Committee Chairman Liu Wenru signed the agreement on behalf of the municipal government of Jinjiang. The sister-city relations between them “seeks to establish cooperation in the fields of tourism and culture, trade and commerce, health and wellness, and education, science and technology,” a statement by the Davao City information office said. The mayor was quoted as saying the agreement would foster an exchange of

ideas on identified fields “and bring the people of our two cities closer, strengthening the bilateral ties between our two nations even further.” “On its own, Davao City stands as a strong community. But with partner communities and sister cities like Jinjiang, we stand stronger,” she added. Jinjiang is a county-level city of Quanzhou City in northeastern China province Fujian. It was in February last year when representatives of the municipal government of Jinjiang, led by Executive Vice Mayor Li Zili, visited Davao City to present their interest to establish friendly ties, the information office said. Four memoranda of understanding were also forged at the side of the signing

of the sisterhood pact. Two of the MOU include a tourism exchange agreement supporting the Davao City-Jinjiang direct flight—to be launched in December this year—and the establishment of a Confucius Institute at the Ateneo de Davao University. Jinjiang City officials toured the Davao City delegation to the Jinjiang Exhibition Center, the Wudianshi Traditional Block, Yanzheng High School and the PanPan Food Co. Davao City has a standing sisterhood agreement with Nanning City, the capital of Guangxi Zhuang Autonomous Region in southern China. This makes Jinjiang Davao City’s second sister city from the People’s Republic of China, and its eighth international sister city. Manuel T. Cayon

PPP a boost to Bataan’s ‘blue economy’–official

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HE provincial government of Bataan will continue to pursue public-private partnership (PPP) projects to ensure sustainable development of its so-called blue economy. Bataan plays a major role in the Central “Luzon West-Growth Corridor” and serves as Central Luzon’s industrial heartland owing to the presence of several industries, as well as bustling tourism anchored on its natural resources and historical sites. Implementing various integrated coastal management (ICM) activities, Bataan is working closely with the Department of Environment and Natural Resources (DENR) and the Partnerships in Environmental Management for the Seas of East Asia (Pemsea), an intergovernmental organization operating in East Asia. Pemsea aims to foster and sustain healthy and resilient oceans, coasts, communities and economies across the region. Bataan is at the forefront of the country’s socioeconomic growth, boasting robust agriculture, fishery and manufacturing sectors. It is Pemsea’s first ICM Parallel Site in the region. Some of the ongoing ICM activities include coastal strategy development, beach cleanups, public-awareness campaigns, mangrove rehabilitation and fish/turtle sanctuary establishment.

Turtles

ACCORDING to Provincial Government Environment and Natural Resources (PGENRO) chief Victor B. Ubaldo, Gov. Albert S. Garcia’s thrust is to promote industrialization while ensuring the protection and conservation of the province’s natural wealth, particularly its coastal and marine environment. Ubaldo, former National Economic Development Authority assistant regional director, emphasized the importance of

protecting the province’s rich natural resources, particularly its coastal and marine areas. The London-educated Ubaldo said the challenge is striking a balance between the robust growth brought about by development and the protection of its mangrove forests along the coastal areas. “Bataan is a peninsula. It is surrounded by bodies of water. From there, you can see the importance of the ocean to the province. Like in other parts of the Philippines near the ocean, the major means of transportation is through the ocean. That is why there are developments of seaports, then development of industrial areas and there is a buildup of residential areas along the coastal areas,” he explained. “Because of [these], there is now a competition for the use of our limited strip of land.” Historically, Bataan plays host to marine turtles. The province celebrates the Pawikan Festival every December 1 and 2, which highlights the importance given by Garcia’s leadership in protecting and conserving the endangered migratory wildlife, according to Ubaldo. “When marine turtles return to nest in an area, it means that the marine environment is still healthy,” he explained. “A marine turtle returns to the place where they are hatched to nest when they become mature so it means that Bataan still has a healthy marine environment.”

Challenge

THE challenge, he said, is the fact that there are industries that want easy access to seaports, which threatens mangrove areas. “Not all of Bataan’s coastlines have mangroves. There are pockets of mangroves around Bataan and the priority is to preserve them,” he said. The official said they maintain strong links with the local government and the coastal communities in partnership with

the DENR and Pemsea to protect them while balancing with the need for development. “In areas where there are no mangroves, with the permission of the municipal government, we prioritize an area for industrial development,” he said. “For the building up of residential areas, we want to direct them away from coastal areas for their own safety because of the danger posed by climate change impact.”

Long term

UBALDO said, currently, there are big seaports in Mariveles, Limay, Orion and Subic. Two-thirds of Subic is within the territorial jurisdiction of Bataan, he said. “There are also private ports, actually, jetties but they operate like private ports.” According to Ubaldo, the main actors in the coastal resource management are the city or municipal governments, noting that they have the mandate to develop their own coastal areas. “What the provincial government aims to do is to enhance the capacity of local governments and help them formulate a regulatory environment that is appropriate and in accordance and responsive to the long-term vision of the province,” he said.

Cooperation

UBALDO said that, at the end of the day, the people of Bataan will realize that caring for the province’s natural resources is not the responsibility of the government alone but of everybody that will require the cooperation of everyone. “We have a partnership with the private sector, the Bataan Coastal Care Foundation. It is because of Pemsea that the BCCF was formed,” he said. “Pemsea help facilitated the formation of the BCCF.” He added Bataan, as an ICM site of Pemsea, is now in the institutionalization stage as far as ICM is concerned. Jonathan L. Mayuga

tallest Christmas tree D

AVAO CITY —The countr y’s tallest Christmas tree may be standing at the Tagum City hall, some 53 kilometers north of here. City officials who witnessed the lighting of the 182-feet high tree on November 18 described the event and the tree, fun, vibrant and colorful. The city information office said the Christmas tree is draped with 232,400 rice bulbs and rope lights and other decorations, “pertaining to the recognitions harvested by the city, and some icons of the mega infrastructure projects of the local government this year.” Ten layers constitute t his Christmas tree representing “the developmental thrusts” of the local government that it dubbed as “Eagle Wings.” Atop the tree is a 12-foot star. Wrapping the tree are 23 smaller stars, representing the 23 barangays of the capital city of Davao del Norte. Tagum City residents flocked to the City Hall grounds on that Sunday evening as annual light-

ing spectacle also kicked off monthlong Paskuhan sa Tagum festivities. Mayor Allan L. Rellon said the city “has plenty of reasons to be thankful for, on top of the successes of the individual families of Tagumenyos.” “As we gaze at the beautiful lights of this year’s giant Christmas tree, may we be reminded of the goodness of our Lord Who makes all things perfect in His appointed time,” he said. Bishop Medil Aseo of the Catholic Diocese of Tagum led the blessing ceremony and emphasized “the importance of the birth of Jesus Christ, as symbolized by the lights of the giant structure.” The city also decorated with Christmas lights foxtail palm trees that line the avenue leading to the City Hall. Tagum, likewise, tilled the city hall’s front yard to create a Sunflower Garden accentuated with a miniature castle. The giant Christmas tree would be lit every 6 p.m. until midnight every day until January next year. Manuel T. Cayon

A10 Friday, November 23, 2018 • Editor: Angel R. Calso

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editorial

The Philippines’s financial inclusion

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T is often difficult to find the truth about the Philippines, as so much “information” is in fact incorrect or incomplete perceptions. We are told that there is this huge divide between social classes and economic groups. In general, that might be valid; but it is always the details that count. If you type the phrase “Short people are...” in the Google search bar, the answer is “short people are angrier.” You are led to a link that says “New Research Says Short People Are Angrier and More Violent.” Settled science? The details are that the survey was made only on males and it was not about “short people” but of men who felt less masculine. The “short” part comes in as “One of the ways they felt less masculine is when they feel that their height is shorter than average.” The headline should actually read “Being Shorter than Average Makes Them Feel Less Masculine.” But who needs facts when the headline makes “tall” men feel better about themselves. Depending on which expert you listen too, the average Filipino is ignorant about financial matters. While it may be true in general, it is also true in general that this is the case for most countries. People understand the concepts of getting a paycheck, paying the bills and just maybe saving a little from what is left over. Certainly, any education that raises the financial knowledge of the average person is good for those individuals and for the nation. True also is the fact that the traditional banking system is lacking in many—far too many—parts of the country. We have written about this before that it is hard to open a bank account when the nearest bank is an hour’s journey away. However, according to the 2018 Global Microscope of the Economist Intelligence Unit that focused on a nation’s environment for financial inclusion, the Philippines is doing better than most would realize. From the report: “The 2018 Global Microscope provides a unique insight into the leading practices that governments and regulators are adopting to channel the digital revolution of financial services into greater levels of financial inclusion.” Unlike some of our traditional perceptions, “financial inclusion goes beyond the number of accounts opened at financial institutions.” Of the 55 countries studied—most similar to the Philippines such as Brazil, Vietnam and Thailand—the Philippines was ranked at No. 4, tied with India and the highest among our neighbors. For “Data Protection and Privacy,” Cybercrime Legal Protection,” and “Privacy Laws Enforcement,” the Philippines scored a perfect “100.” For “Consumer Protection for Financial Services,” our score was still high at “83.” The summary for the Philippines was: “The Philippines’s Central Bank, Bangko Sentral ng Pilipinas, has been ahead of the curve in identifying opportunities and setting guidelines for financial inclusion. However, the small size of several of these players limits the reach of inclusive finance.” However, “the key barriers to financial inclusion include the limited size of financial institutions.” Well, maybe the root problem is that in many areas it is that you have to spend half a day just to make a deposit or withdrawal. Also, in spite of the growth in the insurance industry, there is “lax consumer protection guidelines, especially in insurance products, representing a risk for consumers.” And you may not know this: “No deposit insurance is provided for e-money account balances” that is being pushed through smartphone applications. Since 2005

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‘Ako ay Pilipino’ James Jimenez

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KO ay Pilipino.” Yes, I am. I may not always talk or think like someone might expect a Filipino ought to, but I would never identify as any other nationality. I mean, sure, there might be significant economic benefits to becoming a citizen of another country, but what would it benefit me to gain the world and lose my soul? Ang dugo’y maharlika, yes, but really only in the metaphorical sense. What I do have, just like every Filipino—and in equal measure—is the natural dignity that comes from being human. I am neither better nor inferior to anyone. Looking at it from a different perspective, I can comfortably say that this natural equality with my fellow humans means we all are free to ignore anyone else’s claims to being better than me simply because of who they are or who their ancestors claimed to be. Likas sa aking puso, adhikaing kay ganda. Well, I certainly like to think so, despite being subject to the frailties of humanity. I struggle to overcome these faults—envy,

Sonny M. Angara

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fear of the other, greed, glee at having power—just like everyone else, knowing that being a good person doesn’t mean the absence of these things, but having both the presence of mind to recognize them as flaws, and the determination to be better than I am. Sa Pilipinas na aking bayan, lantay na Perlas ng Silanganan, wari’y natipon ang kayamanan ng Maykapal. Can’t argue with that, but that sentiment does sound melancholic; while it

celebrates the beauty and natural wealth of the Philippines, it does make me want to ask if it’s being said to convince oneself, more than anyone else—the way a person might stand in front of a mirror and whispering over and over again “you got this.” The Philippines is a beautiful and bountiful country, but the truth of the matter is, we haven’t been the best stewards of it, have we? Bigay sa ’king talion, sa mabuti lang laan; sa aki’y katutubo, ang maging mapagmahal. Again, yes, I would like to think so. Still, I fall short of the mark on occasion, but that still doesn’t change the fact: ako ay Pilipino, isang bansa isang diwa ang minimithi ko. I have every faith that I am not alone in that. Sa Bayan ko’t Bandila, laan buhay

Speeding up the wheels of justice

✝ Ambassador Antonio L. Cabangon Chua Publisher

SPOX

Let’s face facts. It’s not an altruistically friendly world beyond our seas. It’s a world motivated almost exclusively by competing national interests. No one is going to give us a hand up just out of the goodness of their hearts, and even the handouts are often tangled up in strings we can’t even see. And certainly no one is going to give us a free lunch.

F

OR decades, many have decried how our justice system runs slowly and inefficiently. Despite our Constitution’s directive that every accused has the right not only to a speedy trial, but also to the speedy judgement or disposition of their cases, sadly it’s already taken as a fact of life that the wheels of justice in our country turn at a snail’s pace. This only contributes to the continuous erosion of trust in our public institutions, making it all the more difficult for the rule of law to prevail. Since our people are so starved of retribution for the crimes committed against them, it’s no wonder some have little qualms about taking shortcuts or circumventing the law. That our jails are inhumanely congested only illustrates this problem. A 2017 Commission on Audit (COA) report on the Bureau of Jail Management and Penology showed that, while the 466 jail and penal facilities under its jurisdiction have an ideal holding capacity of 20,653 individuals, the present cell population of the bureau is a staggering 146,302 as of December 31, 2017. That means BJMP facilities on average house up to six times the number of detainees they’re meant to hold. In some cases, it’s up to nine times

the holding capacity. Such congestion has been noted by past COA reports. Aside from the lack of facilities and limited building space, the slow action or inaction of the courts has been cited as a major cause of the congestion. A 2015 version of the COA report even cited that one detainee’s case remained pending since 1996 due to “lack of judges, postponement of hearings and slow disposition of criminal cases.” In fact, according to Asian Development Bank (ADB) data, up to 60 percent of the country’s total prison population were unsentenced detainees—or individuals simply waiting for trial. In fact, according to BJMP data as of May 31, 2018, up to 97.6 percent of its jail population—141,422 out of 144,871—were either awaiting trial, undergoing trial or awaiting final judgement.

This poses no insignificant cost to the country’s coffers. Some even estimated that in 2016, the government spent up to P74,000 a year per prisoner, which is three times what was spent by the Department of Education (DepEd) on students. Raymund Narag, an assistant professor at the Department of Criminology and Criminal Justice of the Southern Illinois University Carbondale, recently argued that pretrial detention in the Philippines is one of the longest in the world. He calculated that inmates stay in jail for an average of 528 days before they are even convicted or acquitted. Some even stay incarcerated for 10 years to only be freed with no charges. This isn’t to say, however, that the courts aren’t working hard. In many salas, judges and court employees work double or triple time just to get through their daily caseloads. In fact, a National Statistical Coordination Board study of the Philippine criminal justice system between 2005 and 2010 calculated that lower courts had an annual average load of 1,059,484 cases. If a judge were to finish this caseload within the year, that would mean having to achieve the impossible task of hearing and dispensing more than 4,000 cases a day. Recently, we cosponsored with Sen. Richard J. Gordon, Senate Bill 2065, creating positions in the lower courts for so-called judges-at-large, who will help unclog court dockets

ko’t diwa. That, in a nutshell, is why I do the work I do—even when it can sometimes be truly challenging. To my mind, giving up on the nation out of fear and despair is the least patriotic thing any Filipino can do. It’s not something that a Pilipinong totoo, ought to joke about, even lightheartedly. Let’s face facts. It’s not an altruistically friendly world beyond our seas. It’s a world motivated almost exclusively by competing national interests. No one is going to give us a hand up just out of the goodness of their hearts, and even the handouts are often tangled up in strings we can’t even see. And certainly no one is going to give us a free lunch. The only way we don’t lose our footing—and more besides—in a world like that is to periodically remind ourselves that, as imperfect as we are, we are a race of people who fought and bled and died when fighting, bleeding, and dying were necessary to stand up for who we were; that we, with intellect and savoir-faire, demanded and gained the respect of powers greater than ourselves; and that throughout our tumultuous history, we have survived our trials with our heads held high. Taas noo kahit kanino.

and speed up the resolution of cases. These judges-at-large will have no permanent salas and will be deployed by the Supreme Court wherever their assistance will be needed. During the public hearing on the measure, Atty. Raul Villanueva from the Office of the Court Administrator under the Supreme Court said that much of the congestion is found in the regional trial courts. Hence, to serve this need, the proposal we cosponsored provides for 100 judges-at-large positions, as compared only 50 in the municipal trial courts, where the caseload appears to be more manageable. Of course, our proposal is but one step to solving the problems of our slow justice system. Clearly, a comprehensive host of initiatives is needed such as increased public investments in our justice system, constant training, upskilling and capacity-building among the officers and workers of the courts, deployment of technology solutions wherever possible and appropriate and reforms in criminal procedure. But hopefully, having judges-atlarge serving around the country will help ongoing efforts in improving the pace of our courts so that justice is not only served timely, but also swiftly. Sen. Sonny M. Angara was elected in 2013, and is now the chairman of the Senate Committees on Local Government, and Ways and Means. E-mail: sensonnyangara@yahoo.com|Facebook, Twitter & Instagram: @sonnyangara.

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A social brand to help end poverty

The women directors of Philippine cinema Tito Genova Valiente

ANNOTATIONS

Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

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S we are about to enter the season of Christmas, we are also called to practice our mission as children of God through charity. The Lord Jesus Christ keeps telling us that we should “not neglect to do good and to share what we have, for such sacrifices are pleasing to God” (Hebrew 13:16). While strengthening the value of charity, we in Caritas Manila sought to find this inspiring charitable act of People In Need by facing their social responsibility through Caritas Margins. They find our social brand to help end poverty by engaging in our projects and become an instrument of God. In accordance to what Ms. Claudia Oriolo, country director of People In Need, “our goal is really to give the poor the tools to become selfsustaining, to improve their living conditions and also their economic development.” “Bazaars like Caritas Margin will create platforms to connect buyers with costumers, and we are very privileged to cooperate with Caritas Margin and offer this to our beneficiary.” Through their charitable act, we will be able to continue our support to our scholarship program, the Youth Servant Leadership and Education Program, as we will continue to raise revenues from our marketing activities. My dear brothers and sisters in

Christ, let us not forget that the real essence of Christmas is not about the material things that we receive, but it’s about the simple act that we give to the less fortunate. All the products are made from safe, nontoxic and biodegradable materials, such as vegetables grown through organic farming, religious items intricately handcrafted and food products prepared under the highest standards of quality, and free from chemicals and preservatives. Through our products in Caritas Margins, we will be able to prepare ourselves to our Lord Jesus Christ as they help nourish our spirit, mind and body, as we believe that “to be holy is to be whole in spirit, mind and body.” For inquiries, please call 562-0020 to 25 local 126 and 142 or you may visit Caritas Manila Headquarters at 2002 Jesus Street, Pandacan, 1011 Manila. Make it a habit to listen to Radio Veritas 846 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.

By decree, everything’s great in China’s economy By Nisha Gopalan Bloomberg Opinion

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ONSUMERS of brokerage research on China’s economy and companies have long known that they need to read between the lines. Securities firms are often circumspect in their judgments to avoid alienating powerful interests that could damage their business. So it’s curious that the head securities regulator went to the trouble of meeting with more than 30 brokerages and fund firms to admonish them to be careful in what they say. Liu Shiyu, chairman of the China Securities Regulatory Commission, told the firms to take into account the interests of the party and the state when publishing research, Bloomberg News reported on Thursday. The first conclusion to draw from this display of sensitivity is that officials remain jittery over the state of the economy and are determined to control the narrative more tightly. China’s growth is slowing, the stock market has slumped and a trade war with the US shows little sign of ending. One interpretation might be that the real situation is worse than indicated by official data; the government’s intervention may also reflect concern that negative commentary will cause confidence to deteriorate further. Most foreign investment banks, such as Goldman Sachs Group Inc. or Morgan Stanley, publish research on the Chinese economy or mainland-listed A shares in Hong Kong, which has its own securities watchdog and is (theoretically at least) beyond the reach of the Beijing-based regulator. With overseas securities firms operating in China through joint ventures, any onshore research is issued by the mainland partner. (UBS AG, which manages its joint venture despite holding a minority stake, is an exception.) But even Hong Kong-based research isn’t completely unguarded,

partly because everyone knows these are the rules of the game when working in emerging markets. We have only to remember how Indonesia’s government snapped ties with JPMorgan Chase & Co. in January last year after the Wall Street bank downgraded the nation’s equities. JPMorgan was barred from doing business with government entities, a penalty that remained in force even after it upgraded its stance on Indonesian stocks. The ban was lifted only in May this year. Research reports out of China, even those published offshore, frequently leave a lot unsaid. Investors are accustomed to scrutinizing the charts closely when the accompanying comments are anodyne. To be sure, this is far from an exclusively Chinese issue. Removing conflicts of interest and ensuring transparency were key motivations for Europe’s MiFID II regulations that came into force this year. But access to policy-makers and corporate executives is even more important for securities firms in a relatively opaque market such as China, creating a bigger incentive to avoid commentary that could put such relationships at risk. It’s notable that about 61 percent of stocks in the benchmark CSI 300 Index have no “sell” ratings among the analyst recommendations compiled by Bloomberg—in a market that’s slumped more than 20 percent this year. The ratio for the S&P 500 Index is about 41 percent. This isn’t China’s first attempt to encourage cheerleading commentary when confronted with bad news. Previous efforts haven’t worked too well, and there’s little reason to believe this time will be different. Ultimately, research that is excessively rose-tinted in the face of contrary evidence will lose credibility. Analysts who aspire to be taken seriously will still find a way to get their message out; for the time being, they’ll just have to be a little more careful in the words they choose.

Friday, November 23, 2018 A11

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AM not a film historian; I am a film critic. But I am here in the Hotel Rafael of De La Salle University in Dasmariñas, Cavite and tomorrow, I will read a paper on one of the many unheralded facts about the Philippine film history: the female directors. In the essay written by the late Agustin Sotto, Manunuri ng Pelikulang Pilipino, on Susana C. de Guzman, he mentioned how women directors in the Philippine film industry numbered only about seven. The piece was written on the occasion of the “Natatanging Gawad Urian,” a Lifetime Achievement award, being given to de Guzman. Before her, Sotto underscored, there was Brigida Perez Villanueva, who directed Pendulum of Fate, which gave her the distinction of directing the last silent film in the Philippines. Mauro FeriaTumbocon Jr., indefatigable film scholar and “Forever student of Filipino cinema, from the homeland and the diaspora,” responds to Sotto by doing his own research. Tumbocon counts 10. Seven or 10, the relatively small number of women film directors speaks of a system and tradition that was globally systemic. This condition, as the updated statistics would show, would be no more about the lack of women who were good that it was about a culture and tradition that relegated women somewhere, away from the intellectual force. The works of Sotto, Tumbocon and other scholars have revealed how indeed there were few women directors. More than that, even the most cursory of studies would show how we have forgotten them and stopped measuring their contribution to this industry. There are no extant copies of Villanueva’s film. In the company of the other filmmakers—all male —like Octavio Silos, Carlos Vander Tolosa, Gerardo de Leon, Lamberto Avellana, Manuel Conde, Ramon Estella and Gregorio Fernandez. The name “Brigida Perez Villanueva” was all alone. There are no extant photos of this woman. Where was she born? When did she die? Where was she buried that we may honor her? After Villanueva came Carmen Concha in 1939. With three feature

films made till 1940, Concha is considered by some as the first Filipina female director. And there was Consuelo “Ateng” Osorio who first collaborated on a script with her husband in a film called Dalagang Luksa (Mourning Maiden). In some accounts, Osorio is credited for another film, Dolores as early as 1938. Osorio would be active till the ’60s and ’70s, churning out musicals, seemingly enjoying the new form then of songs sung in English. By the 1940s, the name of Susana C. de Guzman appears. A writer first before she started directing films, de Guzman has a gilded lineage. She was a niece of Lope K. Santos and Severino Reyes, also known as “Lola Basyang.” Constancio de Guzman was a brother. Susana C. Guzman, however, did not need the pedigree. She has 54 screenplays and stories to her name. She has directed also more than 40 films. Sotto describes de Guzman as making “screwball comedies laced with social messages.” Indeed, Sotto

writes how de Guzman, in Tininti del Barrio, created a spoof on political corruption in a small town. A farmer who is illiterate is taught how to write in order to generate more graft for his wife. Even today, that story, as with the other plots developed by de Guzman, is still going through remakes on screen and in real life. But de Guzman was also known for her dramatic films. In 1991 the Manunuri ng Pelikulang Pilipino recognized de Guzman with the “Natatanging Gawad Urian,” a Lifetime Achievement award. In 1992, she passed on. Rosa Mia is another forgotten female filmmaker. Known as the “Mater Dolorosa” of the Philippine movie industry, Rosa Mia ventured into filmmaking, as well. Two Filipina filmmakers who started in television went on to direct films. They were Mitos Villareal and Lupita Aquino Kashiwahara. The latter would go on to do political films like Minsa’y Isang Gamu-gamo, which was recently remastered by ABSCBN. The film was an anti-American cinema, starring Nora Aunor in one of her early forays as a thespian of the first order. In the tail end of the Second Golden Age of Philippine Cinema, there were two stellar presences: Laurice Guillen and Marilou Diaz-Abaya. Both were competent performers, Guillen on stage and film and Diaz-Abaya in theatre. Guillen is considered to be Lino Brocka’s protegee, having acted in many small but stellar roles in the national artist’s film. Marilou Diaz-Abaya would be the first Filipina film director to

win prestige internationally. She would win awards and would be honored in Berlin, Tokyo and other prestigious film concourses. I was in Tokyo, Japan, when she was being honored left and right by the most astute Japanese film critics. Her “Jose Rizal” was being premiered then in Iwanami Hall. Marilou is one film director I would call a friend. This year, I had the privilege to be asked to write the biography to be used for her nomination as National Artist. She would not make it to the title. The information that filtered out was that, in the deliberation, those in the panel remembered how, at one point, she sided with the institutional Catholic Church on the action of classification and censorship. Marilou Diaz-Abaya made Brutal, Moral and Karnal, among those films that would make any church flinch. In those films, she asked us to confront our hypocrisy and twisted sense of the proper. It is the greatest of irony that fellow artists would miss out on the content of her brave works and merely focus on the extracinematic forms that her person followed sometimes, and which had nothing to do with the art that this nation was getting as legacy. The conference is the second leg of the Sandaan Expedition, a series of lectures and film screenings to celebrate the centenary of the Philippine cinema. This is a project of the Executive Committee on Cinema of the National Commission of Culture and the Arts, the first gathering was held in Xavier University for Mindanao.

E-mail: titovaliente@yahoo.com

Separating Renault-Nissan twins would be bloody

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By David Fickling | Bloomberg Opinion

F you depose a king, you’d best have a plan for what to do in the aftermath. That’s the challenge confronting Nissan Motor Co. CEO Hiroto Saikawa after the remarkable palace coup in which Chairman Carlos Ghosn was dethroned after almost two decades bestriding the global auto industry. The man who’s widely seen as indispensable to the collective functioning of Nissan’s alliance with Renault SA and Mitsubishi Motors Corp. has been detained on suspicion of breaching Japan’s financial laws. Meanwhile, Renault’s lead independent directors have pointedly stopped short of backing Saikawa’s move. Given all that, returning to the status quo doesn’t look like an option. But it’s not clear that there’s any viable path forward, either. The central problem is that Nissan’s superior earnings and volumes should put it in the driving seat of the alliance—but the setup of the cross-shareholdings binding the companies together means that Renault, and ultimately the French government, won’t let go of the keys. One option that would no doubt be favored by President Emmanuel Macron, whose approval rating has fallen to just 25 percent, would be a merger of the group that entrenches French leadership. That would secure the position of the world’s biggest carmaker as a national champion and guarantee the security of Renault’s French work force, who

produce about half as much cash flow per head as Nissan’s Japanese employees. Still, that looks to be definitively off the table for the moment. Ghosn had made setting up some sort of merger his legacy project as he approached retirement age, but even that seemed to have raised hackles back in Japan. If his tentative moves toward a deeper alliance resulted in his own decapitation, it’s hard to see how a more aggressive policy with the backing of the Elysee Palace would do any better. Another option would be for Nissan to take control of the alliance instead. As a first move by Saikawa toward that end, taking out Ghosn would look like a canny (if brutal) first step. Renault has fallen so far in value that even before its shares slumped 8.4 percent on Monday, Nissan and Mitsubishi would on paper have been able to buy out its shareholders (with the exception of the French state) just using their net cash holdings. The problem with that option is a thicket of legal hurdles. The French government’s 15-percent stake has

double that proportion of votes, thanks to rules granting this benefit to European shareholders who’ve been holders for more than two years. While in theory a generous takeover offer could allow Nissan to go over Macron’s head and appeal directly to similarly endowed European institutional shareholders, it’s hard to believe that the Elysee wouldn’t find further ways to frustrate such an outcome. That leaves one other option: dissolution of the group. It’s probably easiest to see a route to this result. If Nissan bought an additional 10-percent stake in Renault on the market, its holding would rise to 25 percent—a level at which, under Japanese law, the French company would lose its voting rights in Nissan. Were that to happen, Nissan would be able to convene, and prevail in, an extraordinary shareholder meeting to remove Renault directors from its board. Then it could start dissolving the web of joint purchasing and car-platform agreements that hold the alliance together. Again, though, that seems a strange way to act. For one thing, the costly challenges of electric cars and autonomous vehicles—not to mention the general weakness in the automotive market in 2018—mean that carmakers should be looking to spread their capex and R&D expenses as widely as possible these days, rather than separating themselves from willing partners.

For another, while Ghosn himself is often seen as the linchpin holding the group together, in truth the links run much deeper than that. Alliance cars are now being shifted onto a common modular architecture that leaves them functionally almost identical beneath their badges. Both Renault and Nissan cars are turned out on alliance production lines in India, Russia, Brazil and China. Three out of four power trains are shared by the companies. Synergies across the group will amount to about €5.5 billion ($6.3 billion) this year, the alliance says. And it’s not just about Renault and Nissan. Mitsubishi Motors is bound to the alliance via Nissan’s 34-percent stake, as is Avtovaz PJSC, maker of Russia’s Lada brand, thanks to a Renault holding. Nissan has a joint venture with Dongfeng Motor Group Co. to manufacture its cars and a few Renault models in China. There’s also a smaller equity alliance with Daimler AG encompassing joint development of electric vehicles, engines and power trains. A break would be anything but clean. Ghosn’s ignominious downfall has perhaps fatally injured the relationship between Renault and Nissan, but it’s hard to see a better option for those involved than trying to somehow piece things back together. For all the bad blood, the two sides have, over the years, become deeply conjoined. If they end up being separated too aggressively, the hemorrhage could be hard to stanch.

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A12 Friday, November 23, 2018

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Japan gives ₧95-B loan for flood control, rail By Rea Cu

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@ReaCuBM

HE Philippines and Japan have signed an exchange of notes for two documents in line with Japan’s commitment to provide around ¥205 billion (about P95 billion) in concessional loans for projects under the Duterte administration’s “Build, Build, Build” (BBB) infrastructure program, the Department of Finance (DOF) has reported.

The exchange of notes signed on Wednesday cover the ¥37.905-billion loan (or approximately $336.24 million) for the Pasig-Marikina River Channel Improvement Project Phase IV; and the ¥167.199 -billion loan (about $1.413 billion) for the first tranche of the NorthSouth Commuter Railway (NSCR) Extension Project. The signing was done by the Department of Foreign Affairs (DFA) and the Embassy of Japan after the sixth Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation meeting at the Philippine International Convention Center (PICC) in Pasay City. Following the sixth meeting, Japanese Ambassador Koji Haneda and Foreign Affairs Secretary See “Japan,” A2

JAPANESE Ambassador Koji Haneda (second from right) and Foreign Affairs Secretary Teodoro L. Locsin Jr. shake hands at the signing and exchange of notes concerning two yen loan projects, amounting to ¥205 billion (approximately P95 billion), in the presence of Dr. Hiroto Izumi (right), Special Advisor to the Prime Minister, and Public Works Secretary Mark A. Villar. PHOTO COURTESY OF THE EMBASSY OF JAPAN

PHL EYEING LOW-INTEREST, LONG-TENOR LOANS By Cai U. Ordinario @cuo_bm

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HE advantages of being a lower middle-income country, such as obtaining loans at concessional rates and longer tenors, are things the national government wants to maximize at this time. In a press briefing on Wednesday evening, Finance Secretary Carlos G. Dominguez III said obtaining loans now that the Philippines is still a lower middle-income country would mean these debts will be cheaper. The sheer size of the government’s infrastructure program requires additional funding, and this is better sourced from official development assistance (ODA) partners who can extend concessional financing. “The Philippines is already on the verge of graduating to the level where we will [no longer] qualify...for ODA for some countries. Our income per capita is rising, so while we are still here, I think it’s best for us to take advantage of the long tenors and the relatively low interest rates,” Dominguez said.

MOU. . .

Continued from A1

negotiate and agree on inter-enterpreneurial, technical and commercial arrangements that will apply in the relevant working area,” the country’s top diplomat said, reading from the MOU that he signed with China’s Foreign Minister Wang Yi. There was speculation that a final agreement on joint exploration was to be signed during the Xi visit, but both nations settled instead for an MOU.

‘Chinese draft’

HOURS before Xi’s visit, opposition Sen. Antonio F. Trillanes IV gave reporters a copy of an earlier draft of a supposed framework agreement on the oil exploration deal that was drafted by the Chinese government. Responding to questions from CNN Philippines’s The Source host Pinky Webb, Locsin said there was a Chinese draft, but the copy from Trillanes was not it. At any rate, he said, what was signed last Tuesday was the Philippine draft, which he wrote. The Philippines and China have so far failed to agree to a joint exploration and development of possible hydrocarbon deposits in the disputed waters because of constitutional constraints on the part of the Philippines. Moreover, the Philippines has been advised by lawyers and experts that any move it makes must take into consideration the 2016 ruling of the Permanent Court of Arbitration in The Hague, which ruled that China’s historic claims to most of the contested area is illegal. A poll released by the Social Weather Stations on November 20, as Xi ar-

“The Philippines is already on the verge of graduating to the level where we will [no longer] qualify...for ODA for some countries. Our income per capita is rising, so while we are still here, I think it’s best for us to take advantage of the long tenors and the relatively low interest rates.”—Dominguez “After a few years we will no longer be qualified for that [since] we will be considered a middle-income country and therefore we will have to pay a higher interest rate. So it makes sense for us to have these projects funded now rather than later,” he added.

Efficiency is the point HOWEVER, economists such as University of Asia and the Pacific School of Economics Dean Cid Terosa said whether the country borrows money now or when it is already a middle-income country will not matter as long as the funds are used

rived in Manila, showed 85 percent of Filipinos rejected the Philippine government’s inaction against Chinese aggression in the South China Sea, including in areas that belong to the Philippines. On Wednesday the petitioners in a 2008 suit before the Supreme Court asked the SC to rule on the constitutionality of an earlier similar cooperation agreement that the Philippines signed with China and Vietnam, called the Joint Marine Seismic Undertaking. While the JMSU had lapsed, the petitioners said the high court must still rule on its constitutionality and not invoke the moot and academic principle, because fundamental questions raised in the JMSU petition are also at issue in any current cooperation pact with China.

MOU outlines

UNDER the MOU signed on Tuesday, Locsin said each working group that will look into a possible exploration deal between the Philippines and China “will consist of representatives from enterprises authorized by the two governments.” The China National Offshore Oil Corp. and the Philippine National Oil Co. will also be involved. Locsin said the two governments are hoping to agree on the cooperation arrangements “within 12 months of this memorandum of agreement.” “All discussions, negotiations and activities of the two governments, or the authorized enterprises under or pursuant to this Memorandum of Understanding, will be without prejudice to the respective legal positions of both governments,” Locsin said, quoting the MOU. The MOU also explicitly says that it

efficiently and effectively. Terosa said it is important for the country to ensure that loans are used well. He added that the country’s track record in the use of ODA loans has not been stellar but has “improved through time.” “As long as the country can consistently make efficient and effective use of loans, it doesn’t matter whether we borrow now or later. The country will set itself up for a debt trap if it fails to create long-run and persistent benefits out of the loans,” Terosa told the BusinessM irror. It is worth noting, Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang said, that even if the economic team enters into various loan agreements, they would ensure that these loans are carefully studied. Ang said governments are aware of the negative consequences of poorly studied policies and actions. “No country would like to be in a debt trap, and no economic manager would do that.”

Healthy mix MEANWHILE, Action for Economic

“does not create rights or obligations under international or domestic law.” The legal opposition and critics of the Duterte administration have warned that any deal with China in the West Philippine Sea—a name adopted by Manila to refer to areas in the South China Sea that fall within its territory —that can undermine the country’s sovereignty is a violation of the Philippine Constitution. Xi’s historic state visit to Manila on November 20 and 21—the first for a Chinese leader in 13 years—led to the signing of multibillion-dollar infrastructure loans for the administration’s “Build, Build, Build” program. This, the Palace said, signals the improved ties between the two countries, which had soured during the previous administration that haled China before a UN tribunal. “Suing China was a slap in the face of the Chinese, who value ‘saving face,’ according to a Foreign Affairs veteran who asked not to be identified. From 2013 to 2016, relations between the Philippines and China had hit rock bottom as the proceedings in The Hague continued. But before Manila sued, China had already been prohibiting Filipino fishermen from going near the Scarborough Shoal, a traditional fishing ground of many Southeast Asian nations. In April 2012 a standoff ensued in the area, despite supposed backchannel missions to Beijing that Trillanes said he conducted at the behest of then-President Benigno S. Aquino III. The standoff ended with a supposed agreement by both Manila and Beijing to leave the area, but only the Philippine Navy pulled out, and China kept a blockade. Trillanes, despite prodding from

Reform (AER) Coordinator Filomeno Sta. Ana III said, given the possible consequences of borrowing abroad, it was better to maintain a healthy mix of funding sources. However, Sta. Ana said it was better to borrow domestically than abroad. Foreign loans should be used sparingly and should be considered on the basis of the kind of project requiring additional funding. The ability to access additional funds when the Philippines eventually becomes a middle-income country will still depend on the country’s economic performance and credit rating, he said. “ODA has the advantage of low interest rate and long-term tenor; downside is conditionality, which sometimes is stiff,” Sta. Ana said. The Philippine economic position and the government’s efforts in increasing infrastructure investments is attracting foreign funding institutions and bilateral partners such as China and Japan to offer concessional loans and grants. See “PHL,” A2

then-Senate President Juan Ponce Enrile to render even at least a confidential report “to your mother institution [Senate]” on his backchannel missions for the Executive branch, pointedly said then he will not render a report to the Senate. Six years after that televised argument with Enrile, Trillanes this week called on the Duterte administration to be transparent. He coauthored a resolution with Sen. Kiko Pangilinan asking the government to reveal the contents of any agreement with China before signing; and he reiterated this when he gave copies to media of the supposed “Chinese draft” that was allegedly leaked to his office. Since President Durterte assumed office in June 2016, he has set aside the favorable ruling by the UN tribunal, which he said he will raise at a proper time, and has moved to mend ties with China. Duterte then visited China twice instead of going to Washington, D.C., deemed a rite of passage by previous Filipino presidents. Under Aquino, the Philippines has been the most vocal critic of China’s aggressive actions in the disputed waters and challenged its sweeping territorial claims through arbitration and stepped up military engagements with its treaty ally, the United States. Duterte parried criticisms of his “soft” approach to China, arguing that the Philippine military is so emasculated that there is no way we could win a shooting war against the Asian giant. “The conflict in the South China Sea is not the sum total of our friendship with China,” said then Foreign Affairs Secretary Alan Peter S. Cayetano, echoing the stand of Malacañang.

Should ‘Cong’ or ‘Gov’ solemnize marriages? Yes, solon thinks so By Jovee Marie N. dela Cruz @joveemarie

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ITING the rise in common-law relationships or “live-ins” in the Philippines, the chairman of the House Committee on Revision of Laws is pushing for the passage of a bill seeking to give members of the House of Representatives and provincial governors authority to solemnize marriage. In House Bill 5699, Rep. Marlyn Primicias-Agabas of Pangasinan, the panel chairman and principal author of the measure, said financial challenges, remoteness of the place of the couple or the difference in the religious beliefs are just some of the reasons that discourage parties from contracting marriage. “There are also a number of instances of common-law relationships, even when the couple does not have any impediment to contract marriage,” she said. However, Primicias-Agabas clarified that the bill is limited to giving authority to House members to solemnize marriage, and that marrying couples still have to comply with the basic requirements for marriage. She also proposed to add provincial governors to the list of persons authorized to solemnize marriage as provided in the Family Code. “We know for a fact that mayors have the authority to solemnize marriage; the incumbent members

Trabaho bill. . . Continued from A1

The Seipi instead proposed that the GIE rate be raised to as much as 7 percent, from 5 percent. On top of that, Seipi said the Philippine Economic Zone Authority has to maintain its autonomy if the Trabaho measure is enacted into law. It also moved that value-added tax exemption be given to indirect exporters, or those that supply capital inputs to exporters. The semiconductor industry, the country’s top merchandise exporter, is strongly opposed to key provisions of the Trabaho bill, especially those that refer to incentives rationalization. In an earlier interview with the BusinessMirror, Seipi President Danilo C. Lachica said the industry may be forced to trim its work force by 140,000 under the Trabaho regime.

Investments inflow NONETHELESS, Seipi claimed the industry will continue to be a top performer even if the fiscal measure is passed, as the bill will most likely affect investments inflow, not growth. “We are still forecasting our growth for next year. What would really be affected will be the investments. In fact, most of us already expressed what our headquarters have said—not to expand,” Seipi Chairman Melba A. Cuyahon said in an interview with reporters.

of the Judiciary within their jurisdiction and any priest or rabbi are also authorized to solemnize marriage,” Primicias-Agabas said. She said that in certain instances, the ship captain or airplane chief, as well as military commanders in some instances, and the consul general or vice consul, are given the authority to solemnize marriage, but not members of the House of Representatives or governors. “The proposal to add House members and provincial governors to the list of persons authorized to solemnize marriage will give couples more options to choose their solemnizing officer and it is hoped to encourage couples to legalize their unions,” she said. She said her bill refers to regular House members and does not include party-list representatives. “I have this opinion personally that if you are a district representative, you have a regular district, you have your own area of jurisdiction,” PrimiciasAgabas said. She said that it’s more possible for district representatives to know the people in their districts, unlike the party-list, whose area of jurisdiction is nationwide and may find it hard to determine or know their people. Primicias-Agabas said she will request comments on the bill from agencies like the Department of Justice and the Philippine Statistics Authority.

Lachica, on the other hand, said lost investments due to uncertainties over taxes and incentives have now amounted to more than $1 billion for the industry alone. “Our estimate is over a billion dollars,” he replied, when sought how much the country has lost due to the looming rationalization of tax incentives. The industry is targeting to expand by 6 percent this year to about $35 billion in export receipts, following a record-high $32.7 billion last year. Electronics exports account for more than half of the country’s export pie. “Right now, it is wait and see. It is business as usual. When we end the year and say that we established another record at $35 billion, what you probably will hear is, there is no concern with [the Trabaho bill]. However, there is, because this is momentum from the previous year, but it could have been higher in terms of expansions,” Lachica argued. “It won’t necessarily show in 2019, but if the tax reform is implemented the way it is phrased today without considering our suggestions, then we will definitely be seeing an impact, an erosion on the electronics industry—not just on investments, but also on employment,” he added. The Trabaho bill will gradually cut down corporate income tax to 20 percent in 2029, from 30 percent. On the other hand, it will rationalize and limit the menu of incentives granted by the government to firms in economic zones.

Companies BusinessMirror

Editor: Efleda P. Campos

2nd Dennis Uy-Chinese firm partnership may get govt okay

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By Lenie Lectura

@llectura

SECOND Dennis Uy-Chinese firm partnership may soon win its second big-ticket contract.

Department of Energy (DOE) Undersecretary Donato Marcos said on Thursday after the launch of the Philippine Conventional Energy Contracting Program (PCEP) that the application submitted by Tanglawan Philippines LNG Inc. is “almost complete.” Tanglawan is the partnership between state-owned China National Offshore Oil Corp. (CNOOC) and Philippine fuel retailer Phoenix Petroleum. After evaluation, the DOE is expected to issue a notice to proceed (NTP). Under DOE Department Circular 2017-11-0012 or the “Rules and Regulations Governing the Philippine Downstream Natural Gas Industry,” companies that plan to build an liquefied natural gas (LNG)

facility have to seek prior approval from the agency. “We are still evaluating. Most likely, it will be finished in the first week of December,” Marcos said when asked when the DOE would be able to fully conclude its evaluation. In June CNOOC and Phoenix signed a memorandum of understanding to study, plan and develop an LNG receiving terminal project in the Philippines. Last month the DOE received Tanglawan’s application. However, this was returned because it lacked a certificate of registration from the Securities and Exchange Commission (SEC). Marcos said on Thursday that Tanglawan was able to comply and

submitted to the DOE the required SEC registration. Based on Tanglawan’s application, it plans to build an LNG hub with an initial capacity of 5 metric tons per annum. Two sites in Batangas are being explored, he said. “Phase 1 is 5MTPA and, of course, their proposal is onshore. They are looking at two sites; they have a memorandum of cooperation or understanding with AG&P and they are also looking at National Development Corp. land,” said Marcos, who noted that an onshore LNG project, which includes a gas power plant, is estimated to cost between $1 billion and $2 billion. Tanglawan is among the 23 firms that expressed interest to put up an LNG hub in the Philippines. So far, Tanglawan is the only company that submitted an application for an LNG terminal. Marcos said Limay LNG Power Corp., in partnership with China Energy, also submitted an application albeit “in a different location.” “Limay’s application is for a power

DENR to lift suspension of Apo Land once remedial measures are done By Jasper Emmanuel Y. Arcalas @jearcalas

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AGUIO CITY—The government is set on lifting the suspension on Cemex Holding Philippines Inc.’s subsidiary Apo Land and Quarry Corp., but not until the firm addresses the hazard issues in its areas of operations. “Apo Land suspension stays because they still have issues [that need to be addressed],” said Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano in an interview with reporters on the sidelines of the ongoing 65th Annual National Mine Safety and Environment Conference here. “There are still existing hazards in their area because the materials affected by the landslide could still move if there would be heavy rains. And those may hit houses again,”

Moncano added. Moncano said the Department of Environment and Natural Resources (DENR) has required Apo Land to create a safety wall to contain the debris and stockpile it somewhere else within their perimeter area. The MGB chief said the office of Environment Secretary Roy A. Cimatu had two meetings with Cemex and Apo Land where the quarry firm sought for the lifting of the suspension. Moncano said the quarry firm sought a compromise that it would start addressing its hazard issues if it would be allowed to restart their plants and manufacture the debris into cement. The quarry firm made the bargain so that they could earn some money to shoulder the cost it is incurring in supporting almost 8,000 evacuees affected by the landslide, Moncano

said. “They are spending about P2 million a day for the food and the needs of the evacuees. So that is their bargain,” he said. “They will start the hazard reduction plan, but be allowed to feed the debris material to the plant.” Moncano said Apo Land and Cemex are required to declog and clean the river near their perimeter area which was blocked by debris due to the landslide. The two companies should be able to construct the safety wall and finish the clearing of the blocked river by February, under the timeline provided by the DENR, Moncano said. “Secretary Cimatu has not given clearance [to lift the suspension]. He wants the containment of the hazard, construction of safety wall and cleaning up of the river to start first,” he said.

MAYNILAD, PRRC JOIN HANDS FOR ESTERO REHAB West Zone concessionaire Maynilad Water Services Inc. (Maynilad) and

the Pasig River Rehabilitation Commission (PRRC) joined forces with the Metropolitan Waterworks and Sewerage System (MWSS) and the local government of Manila to rehabilitate four polluted esteros (waterways) in Manila for the next three years. This project is meant to lessen pollution load into waterways, in compliance with the Supreme Court Mandamus to clean up, rehabilitate and preserve Manila Bay. Photo shows Maynilad President and CEO Ramoncito S. Fernandez (fifth from left) leading the groundbreaking ceremony for the installation of a 1.5-kilometer interceptor pipeline along Estero de la Reina that will catch wastewater generated by over 8,400 households in Manila. Said interceptor pipe will convey the wastewater to Maynilad’s treatment facilities before discharge to the ecosystem. With Fernandez are (from left): Maynilad Wastewater Management head Antonio Garcia, Barangay 56 Sangguniang Kabataan chairman Benjie Alvarez, Barangay 58 Chairman Ernesto Timbol, Katherine Evangelista (representing Barangay 56 Chairman Dale Evangelista), PRRC Executive Director Jose Antonio Goitia, Maynilad COO Randolph Estrellado and Roy Menorias (representing Manila’s First District Rep. Manny Lopez).

plant in Bataan and they are looking at trading through their own LNG receiving terminal. We suggested they don’t have to build another LNG terminal because they can negotiate with whoever wins the Batangas terminal,” Marcos said. The other firms that expressed interest are Cleanway Energy Development, First Gen Corp., CGN New Energy Holdings Co. Ltd., Vires Energy Corp., DeEnergy International Corp., SK E&S Co. Ltd., Carmine Energy Pte. Ltd., Transformation Llc., Kepco E&C, Atlantic Gulf & Pacific Co., Osaka Gas Co. Ltd, Llyods Energy, PhiLNG Ltd. Pte. and BKB Consortium. The Philippine National Oil Co. also wants to participate. It is actively scouting for its partner. However, Marcos said on Thursday the state firm has “slowed down because they can see that the DOE is about to issue an NTP.” The National Telecommunications Commission earlier declared Dennis Uy’s Mindanao Islamic Telephone Co. Inc. and China Telecom as the country’s third telco player.

Friday, November 23, 2018

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Zen Rooms now largest hotel franchise in PHL By Lorenz S. Marasigan @lorenzmarasigan

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OCKET Internet-backed Zen Rooms, an online booking platform for accommodations, is now the largest hotel franchise in the Philippines with about 3,000 fully serviced hotel rooms and apartments spread across the country. However, despite clinching the title, Zen Rooms Philippines Country Manager Benjamin Nicolas said the feat is only “the beginning for the company.” “We can say with certainty that this is where the industry is heading. There is great demand for hotels that provide quality accom-

modations at a budget,” he said. Zen Rooms acquires rooms from existing hotels and apartments, modifying them and branding them as Zen Rooms. It offers two different types of accommodations—Zen Rooms, which are typical hotel rooms furnished to have the Zen branding, and Zen Homes, which are condominium units fitted with different hotel amenities. Currently, Zen Rooms is present in 13 cities in the Philippines, namely Manila, Boracay, Angeles, Cebu, Davao, Palawan, Bohol, Tagaytay, Batangas, Baguio, Puerto Galera, Dumaguete and Siquijor. Across Southeast Asia, Zen Rooms is present in 50 cities and seven countries with an approximate room count of roughly 6,000 rooms.

PAL appeals order to regularize 2,600 workers; DOLE studies plea

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HE regularization of over 2,600 contractual workers of Philippine Airlines (PAL) may not happen anytime soon. This comes after PAL officially appealed this week the compliance order issued by the Department of Labor and Employment (DOLE) in October, ordering the flag-carrier to regularize the workers. In a press briefing, Officer in Charge Undersecretary Benjo M. Benavidez said PAL has officially asked Labor Secretary Silvestre H. Bello III to reverse

the decision of the DOLE-National Capital Region (DOLE-NCR) ordering the company to absorb its contractual employees. He said the petition is now being studied by the Bureau of Working Conditions before it recommends the proper course of action to Bello. The labor official noted the case may now drag on even after Bello decides on the matter since PAL management or the affected workers could still bring the case with the Court of Appeals and then to the Supreme Court later. Samuel P. Medenilla

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Companies BusinessMirror

Friday, November 23, 2018

PSE STOCK QUOTATIONS

November 22, 2018

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

ASIA UNITED 59.25 59.5 59.3 59.5 59 59.25 2050 121673 BDO UNIBANK 126.7 127 125.9 127.6 123.8 127 1443680 182611487 BANK PH ISLANDS 91.25 91.3 91 91.65 90.05 91.25 506900 46171372 CHINABANK 27.35 27.4 27.5 27.75 27.3 27.35 137000 3757145 EAST WEST BANK 10.6 10.66 10.7 10.7 10.58 10.6 1556500 16569300 METROBANK 72 72.5 72 72.75 71.95 72 4831730 349583470 PB BANK 11.06 11.2 11.2 11.2 11.1 11.1 57500 640250 PHIL NATL BANK 40.6 40.7 39.6 40.7 39.6 40.6 70000 2829200 PSBANK 71.9 74.75 74.75 74.75 74.75 74.75 60 4485 PHILTRUST 105.1 119.8 105.1 105.1 105.1 105.1 100 10510 RCBC 28.9 28.95 28.7 28.95 28.5 28.9 26000 747755 SECURITY BANK 155 155.1 152.7 156 152.5 155 821770 127029171 UNION BANK 65.9 65.95 65.85 65.9 65.85 65.9 11900 784183 BRIGHT KINDLE 1.5 1.58 1.49 1.58 1.48 1.58 74000 109650 BDO LEASING 2.3 2.35 2.3 2.3 2.3 2.3 3000 6900 COL FINANCIAL 15.4 15.5 15.6 15.6 15.5 15.5 1500 23280 FERRONOUX HLDG 3.77 3.79 3.73 3.8 3.72 3.8 62000 232350 IREMIT 1.5 1.57 1.57 1.57 1.57 1.57 2000 3140 MEDCO HLDG 0.44 0.46 0.465 0.465 0.44 0.44 40000 18050 MANULIFE 786 835 835 835 835 835 20 16700 NTL REINSURANCE 0.75 0.78 0.76 0.76 0.76 0.76 83000 63080 PHIL STOCK EXCH 174 181 175 175 172.8 173 1180 204000 SUN LIFE 1811 1849 1849 1849 1849 1849 5 9245 VANTAGE 1.13 1.14 1.14 1.14 1.14 1.14 326000 371640 INDUSTRIAL ALSONS CONS 1.23 1.24 1.23 1.25 1.23 1.25 60000 74350 ABOITIZ POWER 32 32.45 32.8 32.9 32 32 890200 28800215 BASIC ENERGY 0.244 0.25 0.248 0.25 0.24 0.25 1220000 301260 FIRST GEN 17.06 17.14 17.12 17.4 17 17.14 1525600 26125422 FIRST PHIL HLDG 62.4 64.2 63.3 64.2 62.2 64.2 39780 2492541 PHIL H2O 4.51 4.61 4.5 4.61 4.46 4.61 363000 1634420 MERALCO 387 388 388 390 387 388 233090 90526780 MANILA WATER 25.1 25.2 25.05 25.25 25 25.1 383400 9612835 PETRON 7.82 7.87 7.77 7.87 7.71 7.82 858000 6700202 PETROENERGY 3.91 3.99 3.92 3.99 3.92 3.99 39000 154350 PHINMA ENERGY 0.92 0.93 0.93 0.93 0.91 0.91 281000 260790 PHX PETROLEUM 10.9 11 10.9 11.08 10.9 11.02 220300 2417420 PILIPINAS SHELL 48.25 49.1 48.3 48.5 48 48.25 1382700 66671065 SPC POWER 5.26 5.3 5.2 5.3 5.2 5.26 598300 3130194 VIVANT 15.1 17.5 17.52 17.52 17.5 17.5 3200 56010 AGRINURTURE 17.4 17.42 17.58 17.8 17.2 17.54 378700 6683316 CENTURY FOOD 14.54 14.56 14.32 14.58 14.3 14.56 58600 845982 DEL MONTE 6.8 7 7 7 6.8 6.8 1000 6820 DNL INDUS 10.38 10.44 10.7 10.7 10.36 10.4 780300 8116288 EMPERADOR 6.93 6.94 7.04 7.04 6.92 6.94 310700 2153886 SMC FOODANDBEV 83.3 83.35 83.6 83.7 83.3 83.35 2812000 234653347 ALLIANCE SELECT 1.05 1.06 1.08 1.1 1.03 1.06 11961000 12714490 GINEBRA 22.6 23.5 24 24 23.15 23.5 2800 66430 JOLLIBEE 283.2 285 279.8 285 278 285 589260 166252914 MACAY HLDG 9 9.89 9 9 9 9 200 1800 MAXS GROUP 9.6 9.62 9.5 9.7 9.29 9.6 466400 4413400 MG HLDG 0.165 0.172 0.165 0.165 0.165 0.165 200000 33000 PEPSI COLA 1.3 1.36 1.36 1.4 1.29 1.29 1432000 1870390 SHAKEYS PIZZA 10.04 10.18 9.99 10.18 9.98 10.04 63100 634271 ROXAS AND CO 1.9 1.99 2 2 1.9 1.99 36000 69000 RFM CORP 4.68 4.72 4.7 4.72 4.68 4.72 20000 94000 ROXAS HLDG 2.71 2.8 2.81 2.81 2.8 2.8 48000 134430 SWIFT FOODS 0.121 0.124 0.121 0.121 0.121 0.121 20000 2420 UNIV ROBINA 132.5 133 131 133.2 130.8 133 938410 124416644 VITARICH 1.49 1.5 1.48 1.51 1.47 1.5 2736000 4079700 VICTORIAS 2.32 2.35 2.32 2.32 2.32 2.32 225000 522000 CONCRETE A 60.7 66.8 66.8 66.8 66.8 66.8 50 3340 CEMEX HLDG 1.72 1.73 1.9 1.91 1.63 1.73 15724000 27303600 DAVINCI CAPITAL 5.55 5.6 5.81 5.82 5.23 5.23 20900 118583 EAGLE CEMENT 15.5 15.52 15.4 15.52 15.18 15.5 387100 5989764 EEI CORP 8.51 8.52 8.9 8.9 8.52 8.52 18400 158159 HOLCIM 6 6.27 6.53 6.53 5.96 6.29 137100 878864 MEGAWIDE 16.68 16.8 17.04 17.04 16.68 16.68 987700 16607968 PHINMA 8.6 8.77 7.85 8.65 7.8 8.3 14400 119086 TKC METALS 0.8 0.84 0.85 0.85 0.8 0.84 177000 144150 VULCAN INDL 1.71 1.72 1.46 1.72 1.45 1.71 25173000 40400290 CROWN ASIA 1.36 1.41 1.36 1.36 1.35 1.36 67000 90680 LMG CHEMICALS 4.65 4.66 4.65 4.66 4.65 4.65 177000 823100 MABUHAY VINYL 3.3 3.36 3.34 3.36 3.34 3.36 11000 36880 PRYCE CORP 5.07 5.35 5.35 5.35 5.35 5.35 200 1070 CONCEPCION 36.05 36.5 36.5 36.5 36.5 36.5 400 14600 GREENERGY 1.73 1.74 1.64 1.75 1.6 1.73 34728000 59208820 INTEGRATED MICR 7.79 7.85 7.67 7.9 7.53 7.8 7876000 61278975 IONICS 1.49 1.52 1.48 1.52 1.48 1.48 29000 43000 PANASONIC 5.82 6.16 5.82 6.16 5.82 6.16 5200 31898 SFA SEMICON 1.22 1.24 1.21 1.24 1.2 1.24 133000 160820 CIRTEK HLDG 36.3 36.7 36.7 36.7 36.3 36.3 12400 450480 HOLDING & FRIMS ABACORE CAPITAL 0.53 0.54 0.55 0.59 0.51 0.54 69071000 38100670 ASIABEST GROUP 19.76 20.35 19.2 21.2 19.2 19.76 2619300 51992159 AYALA CORP 931 935 926 935 913 935 123020 113600070 ABOITIZ EQUITY 48.25 48.7 49.35 49.35 48.15 48.7 552200 26841400 ALLIANCE GLOBAL 11 11.1 10.8 11.1 10.74 11 22110700 240716908 ANSCOR 6.3 6.33 6.33 6.33 6.3 6.3 11200 70596 ATN HLDG A 1.37 1.38 1.38 1.41 1.35 1.38 8559000 11714160 ATN HLDG B 1.39 1.42 1.39 1.42 1.39 1.42 571000 796100 COSCO CAPITAL 7 7.05 7.01 7.09 7 7 186000 1303744 DMCI HLDG 12.86 12.9 12.78 12.96 12.6 12.9 2888200 37189862 FILINVEST DEV 8.48 8.5 8.3 8.58 8.11 8.5 14930600 125910104 FJ PRINCE A 3.67 5.18 5.5 5.5 5.19 5.19 12000 65410 GT CAPITAL 879 880 884.5 885 871.5 879 123610 108485640 HOUSE OF INV 5.89 5.93 5.92 5.94 5.92 5.93 1100 6521 JG SUMMIT 47.25 47.3 46.9 47.55 46.55 47.3 2199400 103401380 LODESTAR 0.51 0.52 0.53 0.53 0.52 0.52 22000 11650 LOPEZ HLDG 3.81 3.88 3.89 3.89 3.75 3.82 36039000 135178360 LT GROUP 16.02 16.1 16.44 16.5 16 16.1 4737800 76810872 MABUHAY HLDG 0.54 0.55 0.54 0.55 0.54 0.54 490000 264760 MJC INVESTMENTS 2.78 3.49 3 3.5 3 3.5 11000 38000 METRO PAC INV 4.6 4.61 4.61 4.62 4.58 4.61 14649000 67449170 PACIFICA 0.034 0.035 0.034 0.034 0.034 0.034 100000 3400 PRIME ORION 2.36 2.37 2.35 2.39 2.34 2.36 264000 624490 PRIME MEDIA 1.15 1.2 1.15 1.16 1.15 1.15 108000 124210 SOLID GROUP 1.29 1.32 1.27 1.31 1.26 1.31 54000 70070 SM INVESTMENTS 911 914.5 920.5 940 910 914.5 236180 217331255 SAN MIGUEL CORP 171.2 171.8 172 173 171 171.2 66810 11465808 SOC RESOURCES 0.72 0.78 0.79 0.79 0.79 0.79 4000 3160 SEAFRONT RES 2.21 2.7 2.2 2.2 2.2 2.2 90000 198000 TOP FRONTIER 269.2 281 269.2 281 269.2 281 4430 1239918 WELLEX INDUS 0.236 0.24 0.235 0.246 0.222 0.24 7910000 1895570 PROPERTY ARTHALAND CORP 0.51 0.53 0.52 0.53 0.51 0.53 778000 398490 ANCHOR LAND 11 11.94 11 11 11 11 2000 22000 AYALA LAND 39.9 40 39.9 40.1 39.65 40 3166300 126538585 ARANETA PROP 1.73 1.85 1.85 1.85 1.85 1.85 4000 7400 BELLE CORP 2.16 2.17 2.2 2.2 2.16 2.16 462000 1004820 A BROWN 0.75 0.77 0.78 0.78 0.75 0.75 721000 542750 CITYLAND DEVT 0.85 0.86 0.85 0.85 0.85 0.85 176000 149600 CROWN EQUITIES 0.213 0.219 0.219 0.219 0.211 0.219 1590000 337160 CEBU HLDG 5.72 5.96 5.72 5.99 5.72 5.99 11400 65937 CEB LANDMASTERS 3.85 3.89 3.9 3.93 3.82 3.89 252000 982100 CENTURY PROP 0.4 0.405 0.4 0.405 0.395 0.405 1730000 691550 CYBER BAY 0.325 0.35 0.35 0.35 0.35 0.35 190000 66500 DOUBLEDRAGON 18.04 18.06 18.1 18.14 18.02 18.06 284400 5133902 DM WENCESLAO 7.56 7.57 7.59 7.59 7.5 7.57 204100 1542707 EMPIRE EAST 0.49 0.51 0.49 0.5 0.49 0.5 60000 29500 FILINVEST LAND 1.43 1.44 1.45 1.45 1.43 1.43 120000 172800 GLOBAL ESTATE 0.99 1.01 1 1.01 0.99 1.01 1853000 1852380 8990 HLDG 7.5 7.59 7.4 7.59 7.3 7.59 17591200 131046744 IRC PROP 2.52 2.53 2.52 2.56 2.45 2.52 13280000 33302540 MEGAWORLD 4.7 4.71 4.72 4.75 4.68 4.7 2954000 13910350 MRC ALLIED 0.375 0.38 0.35 0.385 0.345 0.38 76700000 28395400 PHIL ESTATES 0.45 0.455 0.46 0.46 0.455 0.455 3170000 1452550 PRIMEX CORP 3.6 3.61 3.67 3.68 3.58 3.6 1144000 4132790 ROBINSONS LAND 20.3 20.5 20.65 20.7 20.2 20.5 528300 10835630 PHIL REALTY 0.35 0.36 0.355 0.36 0.35 0.36 550000 194150 ROCKWELL 1.92 1.95 1.92 1.94 1.92 1.94 32000 61700 SHANG PROP 3.09 3.14 3.12 3.12 3.12 3.12 2000 6240 STA LUCIA LAND 1.12 1.16 1.16 1.16 1.13 1.16 506000 583450 SM PRIME HLDG 33.1 33.25 33.3 33.7 33 33.25 5881100 195461465 STARMALLS 4.1 4.11 4.06 4.14 4.05 4.1 206000 839190 SUNTRUST HOME 0.69 0.72 0.68 0.68 0.68 0.68 6000 4080 VISTA LAND 5.27 5.29 5.2 5.38 5.19 5.29 10269100 54304901 SERVICES ABS CBN 19.2 19.3 19.48 19.5 19 19.3 143400 2768274 GMA NETWORK 5.2 5.22 5.27 5.27 5.2 5.2 136700 715663 MLA BRDCASTING 16.8 17.9 16.8 18 16.8 18 1000 17704 GLOBE TELECOM 1950 1952 1935 1970 1935 1952 11310 22080715 PLDT 1203 1208 1224 1224 1198 1208 38215 46145415 APOLLO GLOBAL 0.038 0.039 0.038 0.038 0.038 0.038 4900000 186200 DFNN INC 7.58 7.6 7.96 7.96 7.6 7.6 12100 92637 IMPERIAL 1.72 1.98 1.8 1.8 1.8 1.8 5000 9000 ISLAND INFO 0.093 0.095 0.097 0.097 0.088 0.095 5650000 509620 ISM COMM 6.78 6.79 6.3 6.89 6.07 6.79 57073900 379082094 JACKSTONES 3.26 3.34 3.26 3.42 3.26 3.42 4000 13200 NOW CORP 3.14 3.15 2.97 3.2 2.95 3.14 5290000 16310720 TRANSPACIFIC BR 0.37 0.375 0.365 0.375 0.365 0.375 20800000 7687450 PHILWEB 2.96 3 2.98 3 2.88 3 178000 521270 2GO GROUP 9.86 10 10 10 9.85 9.86 12400 123341 CEBU AIR 66.05 66.15 66 66.55 66 66.05 101290 6688727.5 CHELSEA 7.85 7.86 7.79 8 7.5 7.86 3158200 24760373 INTL CONTAINER 93.5 94.7 93.9 95.2 93 94.7 807260 76314464 LORENZO SHIPPNG 0.64 0.65 0.65 0.65 0.65 0.65 43000 27950 MACROASIA 12.9 13.02 12.26 13.04 12.04 12.9 3091100 39414536 METROALLIANCE A 1.82 1.83 1.44 1.82 1.4 1.82 1974000 3231490 METROALLIANCE B 1.7 1.8 1.4 1.84 1.4 1.84 169000 275900 PAL HLDG 7.63 7.99 7.63 7.63 7.63 7.63 10000 76300 HARBOR STAR 3.42 3.43 3.28 3.44 3.26 3.43 1704000 5734260 GRAND PLAZA 9.56 10.98 9.53 9.55 9.53 9.55 300 2863 WATERFRONT 0.485 0.49 0.485 0.49 0.475 0.49 780000 378800 IPEOPLE 10.12 10.6 10.6 10.6 10.6 10.6 2300 24380 STI HLDG 0.62 0.63 0.61 0.63 0.59 0.62 3342000 2031200 BERJAYA 1.72 1.73 1.73 1.73 1.67 1.72 1077000 1831180 BLOOMBERRY 7.63 7.64 7.6 7.64 7.59 7.63 3786600 28810956 LEISURE AND RES 2.79 2.8 2.87 2.87 2.79 2.79 138000 386700 MANILA JOCKEY 5.35 5.5 5.39 5.47 5.35 5.35 4500 24227 MELCO RESORTS 7.15 7.16 7.14 7.15 7.14 7.15 4950700 35367413 PREMIUM LEISURE 0.64 0.65 0.65 0.66 0.64 0.64 4231000 2747680 TRAVELLERS 5.23 5.24 5.2 5.24 5.17 5.23 4661800 24317631 METRO RETAIL 2 2.04 1.99 2.03 1.99 2 2208000 4427230 PUREGOLD 42.45 42.5 42.4 42.55 42.4 42.5 315100 13390475 ROBINSONS RTL 72.95 73 73.9 73.95 73 73 243020 17870343.5 PHIL SEVEN CORP 104.3 108.1 108.4 108.4 107 108.1 53940 5815081 SSI GROUP 2.49 2.5 2.5 2.56 2.42 2.5 9793000 24459980 WILCON DEPOT 11.82 11.92 11.8 12.08 11.74 11.92 2670100 31789400 APC GROUP 0.365 0.37 0.345 0.365 0.345 0.365 1950000 695900 EASYCALL 5.16 5.29 5.15 5.3 5 5.25 168800 878594 GOLDEN BRIA 310 320 319.8 320 319 320 1550 495958 IPM HLDG 7.13 7.2 7.2 7.2 7.2 7.2 500 3600 PAXYS 3.03 3.49 3.45 3.5 3.45 3.5 20000 69450 PRMIERE HORIZON 0.32 0.335 0.32 0.33 0.32 0.33 370000 121050 SBS PHIL CORP 6.75 6.8 6.75 6.75 6.75 6.75 4100 27675 MINING & OIL ATOK 13.42 13.58 13.98 14.36 13.1 13.58 25000 338284 APEX MINING 1.69 1.7 1.67 1.72 1.67 1.69 4790000 8092180 ABRA MINING 0.002 0.0021 0.002 0.0021 0.0019 0.0021 95000000 189900 ATLAS MINING 2.36 2.7 2.36 2.36 2.36 2.36 14000 33040 CENTURY PEAK 1.9 1.92 1.92 1.92 1.91 1.91 410000 785100 DIZON MINES 7.02 7.03 7.01 7.19 7.01 7.03 700 4960 FERRONICKEL 1.71 1.72 1.7 1.73 1.66 1.72 1044000 1758270 GEOGRACE 0.201 0.203 0.203 0.203 0.201 0.201 70000 14090 LEPANTO B 0.096 0.101 0.101 0.101 0.101 0.101 20000 2020 MARCVENTURES 1.05 1.1 1.12 1.12 1.1 1.1 8000 8900 NIHAO 1 1.02 1.02 1.02 1.01 1.01 3000 3040 NICKEL ASIA 1.97 1.99 1.98 2.05 1.93 1.97 8689000 17287620 ORNTL PENINSULA 0.88 0.89 0.88 0.88 0.85 0.88 327000 283080 PX MINING 2.6 2.61 2.65 2.66 2.6 2.6 837000 2187140 SEMIRARA MINING 24.75 25 25 25.05 24.75 24.75 589600 14705630 UNITED PARAGON 0.0057 0.0066 0.0058 0.0063 0.0056 0.0063 10000000 59200 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 28900000 353700 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 10000000 120000 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 49500000 595900 PHINMA PETRO 3.51 3.63 3.75 3.85 3.63 3.63 102000 381120 PXP ENERGY 14.76 14.78 14.7 15.46 14.44 14.78 9484600 141659246

PREFFERED HOUSE PREF A AC PREF B1 ALCO PREF B DD PREF SMC FB PREF 2 FGEN PREF G GLO PREF P LR PREF PNX PREF 3B SMC PREF 2C SMC PREF 2E SMC PREF 2G SMC PREF 2H SMC PREF 2I

96 462 97.5 97 970 100.8 451 0.99 102.1 76.2 72.5 73.3 72.25 73.1

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR

5.05

1.68

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.04 MAKATI FINANCE 2.66 XURPAS 1.08

108

1009990 49639964 -14409785 9685820 -62799554 63000 724300 327136 -6971826 75511050 5207180 -60758285 40735390 6927924 -38918530 -18396025 25833 12050 15579195 -567690 99170 15440 4050 -321222 -12820 -1315670 -624709.9999 7692060 -33750.0003 4600 -547080 1371965 28000 32880 -4479935 25178788 10371530 -7210385 18850433 109000 109500 4929 418969.5 2395568 13016906 2788440 -54960 -566950 -78490 -19208058 5600 -16170 -1080460 -13057380 -20050 -4776750 -14562097.5 -5225727 966690 -5197002 32010 2251820 2100 -7080 162660 -6234930 -29240 -1339690 -1756455 -11095346

96 470 98 97.5 969 102.5 480 1.01 102.1 76.2 74.95 74.5 73 73.5

96 470 98 97.5 999.5 102.5 480 1.01 102.1 76.6 74.95 74.5 74 73.5

96 470 97.5 97.5 968.5 102.5 480 1 102 76.2 74.95 73.3 72.2 73.5

96 470 98 97.5 999.5 102.5 480 1 102 76.5 74.95 73.6 74 73.5

70 70 6200 440 4050 1700 400 855000 200 7010 90 336000 23500 120

6720 32900 606350 42900 3935975 174250 192000 856700 20405 536955 6745.5 24724012 1703083 8820

725 -

5.18

5.19

5.19

5.01

5.04

112100

566529

-564468

1.72

1.74

1.74

1.68

1.68

105000

178840

-

4.09 2.82 1.09

4.02 2.82 1.05

4.11 2.82 1.1

3.98 2.67 1.04

4.09 2.67 1.09

145000 5000 3092000

583450 13500 3292870

-7920 80600

EXHANGE TRADE FUNDS FIRST METRO ETF

568499.9999 180370 -1396844 -1741220 14543380 3660690 108461 -1097400 -10603485 -56010 366412.0003 616612 -3241488 -1474196 51583508.5 -2363150 62318820 383617 33000 -750370 45194 -10800333 -151670 498799.9999 -2365500 -542500 25670 -855363 912396 24000 -77150 -4233480 -28482149 -

98.8 470 98.95 97.9 998 102.5 481.8 1.02 108.5 76.5 74.95 73.6 74 73.5

WARRANTS LR WARRANT

118723 20517171 30900441 -470465 -7266392 107772817 -148440 5790 54620723 -56004.9998 -16700 -

108.2

107.7

108.2

107.3

108.2

1400

150792

4328

Editor: Efleda P. Campos

Malaysian coworking firm to build PHL space for $15M By Rizal Raoul S. Reyes

M

@brownindio

Contributor

ALAYSIAN major coworking firm Common Ground on Thursday said it plans to invest $10 million to $15 million in its operations in the Philippines. In a press briefing held in its coworking unit at the Bonifacio Global City (BGC), Common Ground cofounder June Teh said the amount is going to be spent for the possible establishment of 10 branches around the Philippines in 2019. He said Common Ground will introduce a new and an expanded role for coworking spaces in the country, emphasizing they will establish a very wide network lifestyle among the Common Ground members. “We will organize lifestyle events catering to the different yet balanced interests of our members, meaning it will not only be centering on the business lifestyle,” Teh told reporters. For example, Teh said Common Ground’s partnership with Air Asia has provided quality and affordable travel for entrepreneurs. Common Ground has also partnered with prime companies to provide incredible benefits. Shangri-La, GuavaPass, and more have

already signed on with Common Ground to enhance the community’s experience. Teh said Common Ground will also foster collaboration with smallmedium enterprises to develop a stronger ecosystem towards bigger growth. He said this would be done by networking mall and medium enterprises looking for strategic partnerships and collaborations. Teh said the flourishing coworking space industry in the country is what Common Ground saw as an opportunity to put up their aesthetically designed and laid out coworking space that will be strategically situated in the bustling location of BGC. Erman Akinci, also a cofounder of Common Ground, said it is a high point for Common Ground to operate in the country because this is the first time they are expanding outside the Malaysian market. “This is a major milestone for us moving outside of Malaysia for the first time and opening our opera-

Mango Tree group invests ₧14M to upgrade flagship restaurant in BGC Taguig By Roderick L. Abad

@rodrik_28

Contributor

A

SIAN restaurant operator Mango Tree Worldwide invested around $280,000 (about P14 million) to revitalize the look and offerings of its flagship restaurant in the Philippines located at Bonifacio Global City (BGC) in Taguig to entice more customers to come and dine in. Mango Tree specializes in Thai cuisine. “We know dining is not just about the food—but the experience—and we are looking to stay ahead of the curve, innovate, evolve and create more exciting experiences for our existing and new customers,” said Trevor MacKenzie, global managing director of Mango Tree. The Philippines, where the company has a series of full-service restaurants and bistros in Manila, Quezon City and Makati City, serves as the launching pad for its new culinary concept. Following its landmark upgrade, the Mango Tree restaurant in BGC now features a unique solarium to maximize the outdoor area and a full bar. Upon entry, diners will be greeted by the stylish bar that connects to a high-ceiling restaurant full of verdant plants, exuding a sense of escape and tropical tranquillity. Other features include a show kitchen, special wine room to present vintages that pair well with Thai food, a rattan centerpiece situated on uplifting blackand-white tiling, semiprivate booth seating and an upstairs enclosed area for private functions of up to 50 people. A touch of modernity is also in-

troduced in the new staff uniforms with colorful sash belts. The refreshed menu now includes a section called “Purist,” defined as diners who appreciate the traditional tastes of Thai cuisine and seek to experience the dishes loved by the world. The “Adventurous” is for customers who seek to go beyond boundaries and are in search of new tastes from the four regional cuisines of Thailand. “Many culinary enthusiasts in the Philippines have traveled to Thailand and experienced Thai cuisine firsthand, and they now want to enjoy the same dishes back home. Our refreshed Mango Tree restaurant in Manila will reflect the trend toward genuine Thai dining, with an exciting, quality menu that is faithful to the regional flavors of the Kingdom,” MacKenzie said. “We are hugely excited about offering the pure-play and adventureseeker categories on the menu. All are of the highest quality and offer true insights into the culinary culture of one of the world’s great cuisines,” he added. Following the revamp of its Manila restaurant, the firm’s flagship outlet in Hong Kong will be the next location to be upgraded. Mango Tree Worldwide has enjoyed a hugely successful year in 2018, opening 12 new outlets worldwide. Currently, it operates 70 restaurant outlets in 14 countries under a series of distinctive brands, all of which specialize in authentic Thai and Southeast Asian cuisine. The company is on track to achieve its target of reaching 100 restaurant outlets worldwide by 2020.

tions in the Philippines. Aside from the Philippines, we are also planning to open branches in Indonesia, Vietnam and nearby areas,” he said. “At Common Ground, you get to enjoy the best of both worlds, with the flexibility of determining when and where they want to work and, at the same time, develop an opportunity to network and collaborate.” He also said the combination of a well-designed and well-organized work environment will be the reason for companies, start-ups and even established companies to go for and thrive in coworking spaces,” he added. The very first Common Ground coworking space will be in the 2,300-square-meter penthouse of the newly-launched Arthaland Tower in BGC and is patterned after the structure of their offices in Malaysia. Their coworking offices in Makati and Ortigas is set to be launched within the year. There are over 40 coworking spaces scattered around the key business hubs of Makati, BGC and Ortigas with an average rate ranging from P400 to P1,200 per day. Common Ground is in partnership with MVP Global Infrastructure Group (MVP Global), a private investment firm present in Malaysia, Vietnam and the Philippines.

MUTUAL FUNDS

Common Ground launched its flagship coworking location in Damansara Heights, Kuala Lumpur, Malaysia in March 2017. Since then, it has opened in various locations across the country. Its coworking community now has around 2,000 members. Carrying two prestigious titles— one of the most Instagrammable coworking destinations and Malaysia’s largest coworking space, Common Ground boasts of a vibrant, fresh and young vibe that they promise to bring to the Philippines. “At Common Ground, coworking means more than a desk and Internet connection in a communal workspace, but building an engaged community and vibrant ecosystem to help ambitious, fast-growing companies take business to the next level,” said Ana Lucia Aguila, Common Ground community manager. Together with their in-house team of acclaimed designers and architects that can design office spaces according to the customers’ preferred layout, furnishings, brand identity, business specifications and information-technology needs, Aguila said Common Ground can also provide staff with years of experience managing workspaces to ensure that the office operations run smoothly and efficiently.

November 22, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 245.81 -13.75% 0.38% 1.59% -16.16% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3439 -13.63% 3.67% 1.98% -15.84% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.798 -14.56% 0.77% 0.25% -17.3% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8747 -13.7% N.A. N.A. -13.99% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8087 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.1165 -12.69% -1.25% 1.14% -14.91% MBG EQUITY INVESTMENT FUND, INC. * ****** 109.15 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.817 -15.51% N.A. N.A. -17.7% PAMI EQUITY INDEX FUND, INC.* 48.0023 -12.35% 1.37% N.A. -14.88% PHILAM STRATEGIC GROWTH FUND, INC.* 501.18 -12.46% -0.03% 0.83% -14.83% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2286 -10.69% 1.85% N.A. -12.51% PHILEQUITY FUND, INC.* 35.7704 -10.83% 2.34% 3.73% -12.96% PHILEQUITY PSE INDEX FUND INC.* 4.8294 -12.17% 2.11% 3.45% -14.89% PHILIPPINE STOCK INDEX FUND CORP.* 806.51 -12.02% 1.91% 3.43% -14.72% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8377 -11.24% -0.55% N.A. -13.38% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9898 -10.38% 1.97% 1.92% -12.89% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9295 -12.32% 1.92% N.A. -14.98% UNITED FUND, INC.* 3.4062 -9.33% 2.92% 2.28% -12.53% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* ***107.7716 -11.68% 3.08% N.A. -14.44% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.931 -16.47% 1.54% -1% -16% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1593 -6.34% N.A. N.A. -8.37% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6313 -10.55% -1.65% -1.6% -12.46% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1698 -10.05% 0.3% 0.38% -11.69% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4711 -9.55% -2.89% -1.97% -10.79% GREPALIFE BALANCED FUND CORPORATION* **** 1.2867 -10.24% N.A. N.A. -11.56% NCM MUTUAL FUND OF THE PHILS., INC* 1.8172 -6.77% 0.85% 1.2% -8.8% PAMI HORIZON FUND, INC.* 3.4625 -9.99% -0.72% 0.23% -11.63% PHILAM FUND, INC.* 15.6104 -9.56% -0.58% 0.18% -11.09% SOLIDARITAS FUND, INC.* ******** 2.0274 -8.21% 0.72% 2.04% -9.58% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6049 -8.07% 0.46% 0.59% -9.79% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9169 -7.91% -0.08% N.A. -10.13% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03469 -4.14% -0.71% 1.3% -3.91% PAMI ASIA BALANCED FUND, INC.* $0.9344 -11.02% 1.9% -1.66% -10.75% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4124 -4.97% 3.16% 1.66% -6.57% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0236 -7.13% N.A. N.A. -7.97% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342.33 1.84% 2% 1.66% 1.55% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8435 -2.19% -0.98% -0.81% -2.58% COCOLIFE FIXED INCOME FUND, INC.* 2.9561 5.47% 5.38% 5.25% 4.75% EKKLESIA MUTUAL FUND INC.* 2.1246 1.02% 1.44% 1.07% 1.07% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2046 - 0.51% -0.03% 0.15% -0.52% GREPALIFE FIXED INCOME FUND CORP.* P 1.5615 -3.19% -0.56% -1.63% -2.98% PHILAM BOND FUND, INC.* 3.8726 -4.54% -0.87% -0.89% -4.38% PHILEQUITY PESO BOND FUND, INC.* 3.4774 -0.34% 0.23% -0.18% -0.78% SOLDIVO BOND FUND, INC. * 0.8857 -4.03% -1.13% N.A. -4.06% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7537 -0.95% 0.79% 0.13% -0.84% SUN LIFE PROSPERITY GS FUND, INC.* 1.5279 -1.51% 0.31% -0.32% -1.41% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $446.71 0.33% 2.27% 3.02% 0.17% ALFM EURO BOND FUND, INC. * Є212.51 -0.38% 1.01% 1.52% -0.57% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1222 -1.15% 0.81% 1.82% -1.05% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 - 0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6869 -5.07% -0.5% 1.08% -4.78% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0245 -5.12% -0.71% -2.66% -4.56% PHILAM DOLLAR BOND FUND, INC.* $2.1346 -4.95% 0.29% 2.39% -5.17% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568889 -1.03% 0.85% 1.81% -0.54% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8685 -4.93% 0.47% 1.68% -4.79% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.29 2.46% 1.75% 1.49% 2.28% PHILAM MANAGED INCOME FUND, INC.* 1.1771 1.81% 0.46% 0.43% 1.7% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2143 2.52% 2.21% 1.49% 2.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0141 1.51% N.A. N.A. 1.54% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Treasury opens tap facility after seeing 3-fold oversubscription for reissued 5-year T-bonds

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By Rea Cu

@ReaCuBM

NVESTORS of government securities flocked to the Bureau of the Treasury’s (BTr) tap facility on Wednesday with bids increasing to P50.976 billion for reissued five-year Treasury bonds (T-bonds) compared to the tenders received during the auction for the security earlier in the afternoon at P48.857 billion. National Treasurer Rosalia V. de Leon told reporters they decided to open the tap facility due to oversubscription— more than threefold—for the reissued 5-year T-bond, with tenders reaching P48.857 billion at a reasonable 7.003-percent average annual rate, which happened earlier in the afternoon.

The auction committee awarded the full P15 billion on offer during the Tbond auction. It was pointed out, though, that the Treasury’s 10 market makers are the only ones who can access the tap facility, which was opened from 2 to 4 p.m. on Wednesday, with the auction ending by 5 p.m.

Through the tap facility, bids that came in amounted to P50.976 billion and the auction committee awarded again another P15 billion at the same average rate of 7.003 percent. The tap facility allows Government Securities Eligible Dealers (GSEDs) to access bonds after the initial primary auction. The last time the Treasury decided to utilize its tap facility was in January 2017. I n December l a st yea r, t he BTr named its 10 market makers under its Enhanced GSED program, with the financia l inst it ut ions being selected based on their per for mance in the primar y and secondar y government security markets. T he 10 market ma kers are: BDO Unibank Inc., Bank of the Philippine Islands, China Banking Corp., Citibank Philippines, Development Bank of the Philippines, First Metro Investment Corp., Land Bank of the Philippines, Metropolitan Bank and Trust Co., Rizal Commercial Banking Corp. and Security Bank Corp.

De Leon explained that the BTr may opt to use the tap facility again in the coming auctions if the committee sees healthy bids coming from the market for the government securities. “For example, if there would be a lot of bids next week and then it’s a good rate, very healthy, then we can open again the tap facility,” de Leon said. During the usual T-bond auction on Wednesday, the BTr fully awarded the P15 billion on offer, on the back of an over threefold oversubscription in bids for the security pushing the Treasury to open its tap facility. “[It’s] almost 34 basis points lower than the previous [rate], and then there’s a very strong subscription at P48 so three times [oversubscription]. They are locking in because they see that inflation is decelerating... And because we are already going into our last auctions,” she added. The average annual rate of 7.003 percent posted a contraction of 33.9 basis points compared to the previous rate of 7.342 percent.

BSP deputy chief cites RMB Trading Community as banks make first batch of renminbi-peso trades

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NVESTORS, traders and tourists of both the Philippines and China will benefit from the direct trade in the two countries’ currencies that was recently made possible by the setting up of the RMB Trading Community, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo said on Thursday. Guinigundo made the remarks in a radio interview a day after the member banks of the Trading Community on Wednesday executed their first batches of trades between the Chinese renminbi (RMB) and the Philippine peso (PHP), marking the launch of a local direct trading market between the two currencies. Because of the direct currency exchange, the investors, tourists and traders can now simply go to any of the 14 major banks that are part of the RMB, and exchange the pesos for renminbi and vice versa, without having to go through the intermediate process of trading through the dollar. The latter creates a friction

cost that shaves off an estimated 3 percent of the currencies’ value, Guinigundo explained in a radio interview. The deputy governor added that many Asian countries have been seeking to reduce their dependence on the US dollar, to avoid being caught in the wild swings each time the American currency is impacted by developments. Intra-Asian and intra-Asean trades have been seeing more direct, bilateral exchanges of currencies, Guinigundo said, adding, “medyo malikot ang dolyar...kumpara sa iba [The dollar is quite volatile compared to the others].” The Philippines’s move to sanction the establishment of a RMB trading community was also good, given that the renminbi is now “considered an international currency” and is already part of the special drawing rights basket of the International Monetary Fund.

Milestone

THE banks that executed deals were Bank

of China, Asia United Bank, BDO Unibank, EastWest Bank, Metrobank and Rizal Commercial Banking Corp. This milestone comes after 14 major banks signed a memorandum of agreement to create the RMB Trading Community on October 30. The BSP has also issued a Letter of No Objection to the organization of the Renminbi-Philippine Peso Foreign Exchange Trading Market. The community seeks to facilitate direct foreign-exchange trading between RMB and peso. “This marks a big day in our community’s history, as the trades symbolize the beginning of a growing RMB market in the Philippines,” said Deng Jun, chairman of the RMB Trading Community and country head of Bank of China Manila branch. “The Philippine RMB Trading Community aims at promoting the RMB/ PHP ma rket, a nd creat ing a n endto-end platform for the convenient

Association management companies

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ROFESSIONAL association governance and management practice is still in its infancy stage in the Philippines. I can say this because of my work at the Philippine Council of Associations and Association Executives (PCA AE), the “association of associations,” which marked its fifth anniversary on November 20. We found out that most associations here are governed and managed at the same time by volunteers, with a few exceptions where there is a volunteerled board and a salaried management team (also called secretariat) led by a chief executive (also known as secretary general or executive director) much like in a business organization. This is precisely the pur pose of PCAAE: to advance the association management profession and make associations well-governed and sustainable. But have you heard about association management companies or AMCs? An AMC, according to Wikipedia, prov ides management and specialized administrative services to nonprofit trade associations (members are organizations) and professional societies (members are individuals), using a for-profit approach. Many AMCs also serve as an association’s headquarters, managing day-to-day operations, and becoming the public face of the association. According to the American Society of Association Executives (ASAE), for more than 110 years, the association management industr y has continuously grown to more than 600 service

Association World Octavio Peralta providers worldwide that work with associations representing over 3 million members. AMCs provide associations with management capabilities, quick responsiveness and flexibility. If your association becomes shortstaffed or doesn’t have the financial resources to afford the powerful backend technology needed to keep your web site, membership database, complex benefit programs, career center and continuing education certification programs humming along, an AMC can be your ticket to accomplishing these daunting tasks. The Virginia, US-based AMC Institute, which represents 180 AMCs globally, outlines two primary models for working with AMCs: (1) full service and (2) outsourced services. Under a full-service model, the AMC handles delivery of turnkey management for all operating disciplines (ranging from membership, marketing, and policy development to legal and risk management) and daily operations (including staffing, office space, equipment, contracts, technologies and member services). Within the outsourced services model, an AMC delivers extra support in one or more areas of operations, including:

membership services; strategic planning; meetings, conventions, expositions and trade shows; financial management and administration; legal counsel; education and certification; public relations and marketing; Web communications and social media; public policy and lobbying; publications; research; and international services. Regardless of needs, an AMC can streamline management capabilities, which enable an association to focus its energy in pertinent aspects, while handling lingering operational obligations. As association governance and management practice matures here, there is a reason for AMCs to be set up and to operate. When this happens, PCA AE, with its experience, expertise and network in the field, will be there to provide its talent and knowledge resources. T he column cont r ibutor, O c ta v io “Bobby” Peralta, is concur rently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and CEO and founder of the Philippine Council of Associations and Association Executives. PCA AE is holding its Sixth Associations Summit on November 23 and 24 at the Subic Bay Exhibition and Convention Center (SBECC). The event is hosted by the Subic Bay Metropolitan Authority (SBMA) and supported by the Tourism Promotions Board (TPB). PCA AE enjoys the support of ADFIAP, TPB and the Philippine International Convention Center. E-mail obp@adfiap.org

and cost-effective conversion between pesos and RMB.” The organization of the community is part of a Three-Stage Development Plan of Bank of China and Philippine Dealing System Holdings Corp. to develop the domestic RMB services in the country. The community aims to lower transaction costs and promote the direct use of RMB-PHP to further strengthen the economic and financial relationship between the Philippines and China, bringing convenience, financial benefits and stronger ties between “Belt and Road Initiative” member-nations. Members of the community can trade RMB/PHP products through Bloomberg directly and settle the trades with PDS. “We are honored to provide the electronic trading platform for the new CNHpeso spot market and play a role in facilitating deeper economic ties between China and the Philippines,” said Taran Khera, head of Apac, Bloomberg LP.

Friday, November 23, 2018

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BPI sees GDP settling at 6.5%, higher if RRR is cut further

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HE Bank of the Philippine Islands (BPI) sees the country’s gross domestic product (GDP) for 2019 settling at around 6.5 percent, which can be further boosted if the Bangko Sentral ng Pilipinas (BSP) cuts its reserve requirement ratio (RRR) further. During a news conference on Thursday at the Makati Shangri-La hotel, BPI Lead Economist Emilio S. Neri Jr. said the bank sees a growth of about 6.5 to 7 percent for the country’s GDP in 2019, which can be attained if the BSP makes cuts to the RRR by 2 percentage points more. “GDP growth should be 6.5 to 7 percent, maybe a little bit more if BSP can cut its reserve requirement by more than 2 percentage points next year,” Neri said. The BSP’s Monetary Board capped the RRR at 18 percent in May this year coming from 19 percent in February. Markets showed mixed reactions to the decision to bring down by another percentage point the deposit requirement of banks—or the portion of depositors’ balances that banks are asked to keep idle in the BSP’s vaults as reserves. In July BSP Governor Nestor A. Espenilla Jr. said the recent cuts in the banks’ RRR are already enough to communicate their strategy for the banks’ funds in the long term, adding that, while cuts have already been enough for the year, there will be more to come next year to fulfill their goal of a single-digit RRR in the medium term. In October the Development Budget Coordination Committee lowered the target range of the country’s GDP to 6.5 to 6.9 percent, from 7 to 8 percent for 2018. For 2019 to 2022, it retained its target of an economic expansion at a range of 7 to 8 percent. Neri added that tempering inflation will also mean a recovery in household consumption which will help create a more favorable interest rate environment. The BPI sees average inflation to hit 3.6 percent in 2019, adding that it expects average inflation to hit 5.2 to 5.3 percent this year. “If inflation can go back within target of the BSP, not only will it benefit recovery in household final consumption, the interest rate environment will become more favorable compared to how it is today... If we see a good correction of interest rates next year because of lower inflation, the spending side will continue to benefit,” he added. The BSP forecasts average inflation rate for this year to hit 5.3 percent and 3.5 percent in 2019, and has set a target of 2 to 4 percent for inflation starting 2018. “This year we are expecting 5.2 or 5.3 percent [average inflation], next year we are expecting a 3.6-percent estimate. So again, once it’s very clear that we are within target, the BSP will take the initiative to reduce the very aggressive 18-percent RRR. They have Basel 3 already in place with a very high adequacy compliance in the banks. Keeping the Basel requirement at 18 percent is repressive,” Neri said. Rea Cu

AUB posts ₧2.3 billion in net income for first 3 quarters

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UBLICLY listed Asia United Bank (AUB) posted an unaudited consolidated net income of P2.3 billion in the first three quarters of 2018, slightly higher than a year ago. This translated to a return on assets of 1.4 percent and return on equity of 11.2 percent versus year-ago ratios of 1.6 percent and 11.6 percent, respectively. Boosting its bottom line was the 25.8-percent growth in loans and receivables to P146.1 billion, from P116.2 billion year-on-year. Propelling the growth were commercial loans and other loan segments, such as auto, housing and salary loans, which all posted double-digit growths. Higher loans boosted the group’s total assets by 18.3 percent to P230.3 billion, from P198.0 billion year-on-year. The AUB Group, composed of publicly listed universal bank AUB and two rural bank units, generated total deposits of P188.7 billion as of September 30, primarily due to the increase in branches, as well as from a more intensified deposit-generation campaign for branch banking and other business segments. This represented an increase of 19.0 percent from P158.6 billion a year ago. The group reached out to more customers through its consolidated distribution network of 258 branches, including those of its subsidiaries, the Rural Bank of Pampanga, and thrift bank arm Cavite United Rural Bank. “Amid the continuing volatility in the financial markets and the challenging business environment, we remain confident that AUB will show accelerated growth as we cater to the needs of corporates and small and medium enterprises,” AUB President Manuel Gomez said. The bank has been silently revolutionizing banking by leveraging on its enhanced IT platform to improve the banking experience for customers. Since it opened at the height of the Asian financial crisis in 1997, AUB has been making use of technology to differentiate its service and operations. In late 2017 the bank became the first Philippine partner bank of WeChat Pay, the second-largest mobile payment app in China. Since the partnership was forged, AUB is able to seize opportunities from the growing Chinese tourist arrivals in the country.

B4 Friday, November 23, 2018

TROUBLED RIDERS NEED NOT TO WORRY! MOTOLITE COMES TO YOUR WAY IN JUST FEW CLICKS HOME CREDIT PHILIPPINES RAISES P6.5 BILLION FROM SYNDICATED LOAN

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RAGUE-BASED consumer- finance company Home Credit Philippines (HCPH) has signed a domestic syndicated-loan facility amounting to P6.50 billion in October. The company tapped ING Bank and the Land Bank of the Philippines (LandBank) as mandated lead arrangers and bookrunners, while the syndicate of banks is composed of CTBC Bank (Philippines) Corp., EastWest Banking Corp., ING Bank NV Manila branch, LandBank, Rizal Commercial Banking Corp., Security Bank Corp., Shinhan Bank Manila branch and Union Bank of the Philippines. The syndicated-loan facility was oversubscribed and is notable for being almost three times bigger than the pioneer HCPH syndication closed in the amount of P2.25 billion in 2017.

HCPH chief business development officer and treasurer Zdenek Jankovsky attributes the successful syndication to the company’s profitability and growth. “We have created a platform that provides customer convenience based on the [simple and fast] loan-application process. Our success is built on putting our clients’ needs first.” Established in the Philippines in 2013, HCPH broadens financial inclusion for those without access to traditional banking services by providing them a positive and safe borrowing experience—the first for many of its customers. It is present across the archipelago with a strong work force of over 10,000 people supporting about 5,000 distribution points. The company, which uses technology to onboard customers and keeps a robust risk-

management framework, offers various products, such as in-store, point-of-sale loans for purchase of durable goods and cash loans as cross-sell to eligible massretail customers. With more than 3.6 million customers to date, the five-year-old company expects to close the year with P25 billion in finance receivables and sustain profitable operations. In photo are (from left) Bobby Abastillas from Unionbank; Gonzalo Bongolan, LandBank; Marvin Tiburcio, CTBC; Geon Woo-do, Shinhan Bank; Betty Romulo, Unionbank; Zdenek Jankovsky, HCPH; Vicky Tupaz, HCPH; Annica Witschard, HCPH; Beth Coronel, RCBC; Hans Sicat, ING; Raffy Algarra, EastWest Bank; Joy Supan, Security Bank; and Christian Solis, Security Bank.

MAGINE driving by yourself and, suddenly, you experience car trouble—it’s always difficult when you don’t have someone to come to your aid. Most local motorists have come to rely on Motolite’s Express Hatid when it comes to car-battery problems. Just a call to Motolite’s hotline number and a knowledgeable mechanic-on-wheels will be at your location in no time. If it’s more than just battery problems, the Motolite Res-Q app comes in handy. Free to download from the App Store and Google Play, the Motolite Res-Q app is Motolite’s way of giving motorists the peace of mind when it comes to car troubles. Launch the app and with just a few clicks, help is on the way. The Motolite Res-Q app allows you to see the profile of the Res-Q rider coming to you; exactly track where the rider is; and rate them based on the services rendered. “It is at the heart of Motolite’s branding to guarantee a worry-free driving experience to our clients, especially in Metro Manila,” Motolite Vice President Ricky Chan said. “And to do this means addressing the more common problems they may face on the road, and the Motolite Res-Q app is one way

to achieve that objective of giving our customers peace of mind while on the road.” Chan added that, if you have a Motolite battery installed in your vehicle, the Res-Q service will be free of charge. Motorists will only need to pay if a new battery is needed or in certain cases—coolant or fuel—and they can pay either by cash or credit card. With the Motolite Res-Q app, motorists and passengers alike will no longer have to worry about car troubles disrupting their schedule. “We have countless testimonials of motorists who got rescued by our Motolite Express Hatid riders while [being] stuck in the middle of the road, late at night,” Chan says. “But now, we want motorists and passengers to feel at ease, that their most unexpected worries on the road will be taken care of by our Res-Q riders through the Motolite Res-Q app.” Motolite is not only the country’s undisputed leader in automotive, motorcycle and industrial batteries; it is also one of the few Filipino manufacturing companies ranked No. 1 in the automotive-battery segment in foreign markets, like Australia and Malaysia.

CLARET SCHOOL OF QUEZON CITY STAGES 6TH ALUMNI CLASSIC GOLF TOURNAMENT TODAY, NOV. 23

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HE Claret School of Quezon City Alumni Batches 1978, 1979 and 1980 will be staging the Sixth Claret Alumni Classic Golf Tournament today, November 23, at the Villamor Air Base Golf Course. A record number of golfers from the Claretian community and guests are about to participate in the annual 18-hole golf tournament. Tee-off time is at 8 a.m. The funds to be raised from this charity game shall give

boost to the resources of the Claret Samal Foundation Inc. This pastoral endeavor of the Claretian Missionary Fathers (CMF) in the Philippines caters to the needs of the Samal-Badjaos, the most disadvantaged group in the island of Basilan. The foundation, currently headed by Father Martin Ele, serves as a conduit of resources for extending educational, health-care and livelihood support.

GLOBAL PLATOON RUN CHALLENGE, WEEKLONG FESTIVAL TO BE HELD IN ZARRAGA, ILOILO

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MIDthehistoriclandmarks,churchesandhousesspanning for centuries, the municipality of Zarraga, Iloilo, will serve as the host of Laban ng Lahi 2018 (global platoon run challenge), an advocacy project organized by Camboayon Sports Events, and supported by Col. Jonathan Baldevarona and Prof. Nolan Banda. Proceeds will go to their livelihood programs and their partner organizations across the country. The event is also part of the town’s annual weeklong celebration of the Zarraga Pantat Festival from December 16 to 23. The run challenge shall welcome military groups to participate in the name of national peace and reconciliation. The organization will also be funding “Itikan Love” projects, which is a duck-raising program

that will benefit some 1,000 to 2,000 of the poorest households per province. This also will hasten to improve and support local and national tourism efforts, so people would get to see a quaint Filipino town as its 24 barangays welcome guests to Zarraga, one of Iloilo’s charming municipalities. The Zarraga Pantat Festival 2018 earlier held whole-day affair on September 16 at the Saintsville Subdivision grounds, starting off with a parade of stars and other surprise guests. The run, on the other hand, will be held on December 18 and starting pistol fires at 5 a.m. Tickets are available at P100 through camboayonsports.com, or at the venue or selected Iloilo municipal government centers.

NEW FILIPINO CLIMATE HEROES LAUDED

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ODAY’S champions of environmental causes and climatechange mitigation efforts in the Philippines are recognized in the annual Climate Reality Leadership Awards. Now on its second year, the event is spearheaded by the Philippine mission of The Climate Reality Project, the pioneering nonprofit organization established by world-renowned climate proponent Nobel Laureate and former United States Vice President Al Gore. The Climate Reality Project Philippines is composed of some of the country’s top climate scientists, communicators, policymakers and academicians. The organization counts more than 700 Filipino climate-reality leaders trained personally by Gore. The Climate Reality Leadership Awards is the group’s latest flagship advocacy program, apart from the Let’s Talk Cleaner Energy campaign and other high-level climate policy-lobbying and community-empowerment initiatives in the grassroots and youth sectors. The program recognizes outstanding Filipino individuals, organizations, networks and initiatives that have been catalyzing global solutions to the climate crisis by making urgent action a necessity across every level of society.

This year there are 36 award recipients. The highest honor of the Luntiang Kapawa Award will be given to United Nations Special Rapporteur on the Rights of Indigenous Peoples Victoria Tauli-Corpuz for advancing and advocating the stewardship role of the indigenous people, especially with regard to natural resources found in ancestral domains. Another special category, The Luntiang Aligato Award for Journalism, recognizes media personalities who shed light on critical environmental issues. This year, among the awardees are journalists Atom Araullo, Howie Severino, Jonathan Mayuga, Voltaire Tupaz and Imelda Abano. Meanwhile, the Allen S. Quimpo Climate Leadership for Governance Memorial Award seeks to recognize local government units across the country who have committed to renewable energy and have categorically shunned power generation using fossil fuels, such as coal. 27 provinces, cities and municipalities will receive the award this year. “Congratulations to this year’s recipients of the Climate Reality Leadership Awards. You all inspire me to keep pushing ahead in our collective fight to solve the climate crisis,” Gore said.

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Sports BusinessMirror

Friday, November 23, 2018

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ANIRBAN LAHIRI: I think the mindset changes overnight. AP

NO RAIN, ALL

SUNSHINE

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ELBOURNE, Australia—Jhonattan Vegas woke up on Thursday expecting the worst of Melbourne’s weather after officials moved up the tee times by an hour to try to beat expected rain in the afternoon. He was pleasantly surprised to see the sun shining. He and his Venezuelan partner, Joseph Naffah, shot 7-under 65 and were three strokes behind leading South Korea, England and Australia at the World Cup. “I really thought that we were going to have a little rain, a lot of wind, rain gear,” Vegas said. “It was going to be one of those crazy days. But it was absolutely perfect.”

IT WAS THIS BIG, HONEST LIKE a big fish story, Shane Lowry’s birdie putt for Ireland at the World Cup kept getting longer, thanks to his partner. Lowry and Paul Dunne shot an 8-under 64 and were tied for seventh with India and two strokes behind leaders England, South Korea and Australia at Metropolitan. “I made good putts when I needed to save par,” Lowry said. “All in all, pretty happy. Then the bonus on 17 makes it even better, a nice raker across the green. So 70 feet, something like that,” Dunne added about Lowry’s putt. “It will 100 feet by the time dinner comes.” Lowry added: “I was over the moon to see it go in. It was a bonus. In this format, you make hay when the sun shines and we did that.”

GREAT UNDER PRESSURE AS New Zealand’s top-ranked golfer at the World Cup, Ryan Fox had the choice to pick his partner, and he took 43-year-old veterarn Mark Brown when several other players were not available. Brown responded with a strong round on Thursday to lead New Zealand to a 7-under 65 and tied for ninth. “I was feeling a bit of pressure coming into this to try and justify Ryan picking me,” Brown said. “It was good to get off to a good start.” Fox was impressed. “I think I made one birdie today, so it’s pretty much all on Brownie,” Fox said. “Bernie played some great golf and it was good to see. He kind of needed to because my golf was terrible for the most part.” Danny Lee withdrew from the event for New Zealand to spend time with his family. Michael Hendry was unable to commit with his Japan tour card in jeopardy.

STRONG FINISH FOR BELGIUM THOMAS PIETERS and Thomas Detry birdied six of their last seven holes for a 9-under 63, a stroke behind the leaders, but it didn’t always look like it was going to end that way. They made five pars to open, then on the par-3 sixth, their tee shots were about 100 feet apart. “We weren’t that far away from thinking, ‘OK, maybe it’s now time to go back and close the season off right now,’” Detry said. But the Belgian pair saved par on that hole, then made three birdies to finish off the front nine, followed by their six of nine on the back. “I disappeared for a couple of holes and we made a couple of good putts,” Pieters said. “Worked out perfect. We just want to go out there and have fun. It sounds like a cliche, but that’s how you’re going to play your best golf.”

INDIA STRONG IN MIDDLE ANIRBAN LAHIRI and Gaganjeet Bhullar were tied for seventh with Ireland after making five birdies in six holes on the front nine and another birdie on 18, giving them what Lahiri called an “aggressive” 64. “I think both of us felt we should have made three or four more birdies coming in,” Lahiri said. “We missed a few, but you have to feed off each other’s energy.” On Friday, it will be alternate shot, or foursomes. “I think the mindset changes overnight,” Lahiri said. “We’ve played this quite a bunch, Eurasia Cups...Presidents Cups, as well. So that experience is there and you can understand the dynamic.” AP

MANY wondered if a Tiger Woods versys Phil Mickelson match is a thing of the past. AP

UNIQUE EXPERIENCE

FOR VIEWERS B J R The Associated Press

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OLF used to have a prominent place on the Thanksgiving weekend calendar with The Skins Game. That made-for-TV event ended in 2008 but Tiger Woods and Phil Mickelson will have their own high-stakes showdown on Friday. After years of discussion, the two will compete in The Match at Shadow Creek in Las Vegas, a $9-million, winner-take-all event that will air on pay-per-view. Many wondered if a Woods versus Mickelson match was a thing of the past. The two have combined for 123 Professional Golfers’ Association (PGA) Tour victories and 19 majors but had struggled in recent years. Talk of a match was revived earlier this year when Mickelson won in Mexico and Woods started to be competitive again before winning at The Tour Championship in September. Mickelson said the original premise was both partnering up with some of the sport’s younger stars, but television executives and fans have always wanted to see the two go head to head. “To have the opportunity to go head to head and to win is just... it’s great to win the 9 million. I just don’t want to lose to him and give him the satisfaction, because the bragging rights are what’s going to be even worse than the money,“ Mickelson said during a press conference on Tuesday. Both were part of the US team at the Ryder Cup but have not competed since then. “After the Ryder Cup, I shut it down for about three to four weeks, and started to basically work on my body and try to get it stronger again,“ Woods said. “I was really looking forward to the break, but I’m really looking forward to getting back to playing again. I missed competing, and to be able to go against Phil like this gets my juices flowing for sure.“ Mickelson said he has been working on his game the past four weeks and that this is a good way during the off-season to prepare for next year. Many golf fans are used to made-for-TV events that have been genteel affairs. This will be the complete opposite.

For starters, this is believed to be golf’s first pay-per-view match. This is the first major event with Warner Media, which was formed after the recent merger between Time Warner and AT&T. Turner Sports and BR Live are producing the event and it is being shown online, as well as on DirecTV and AT&T U-Verse and other cable and satellite outlets for $19.95. Ernie Johnson Jr., who has done the PGA Championship for Turner, will be the main announcer but it will feature others including Natalie Gulbis, Charles Barkley and Samuel L. Jackson The broadcast will feature both golfers mic’d up, as well as the caddies (Joe LaCava for Woods and Tim Mickelson for his older brother). With it being on pay-per-view, there will be no commercial breaks and plenty of opportunities to hear both golfers try to one up each other with verbal jabs. “It’s like a Tuesday practice round for a significant stake that makes us uncomfortable, but with the same type of banter that we’re used to that most fans aren’t privy to,“ Mickelson said. Woods and Mickelson used to be bitter rivals, but the relationship has improved in recent years as both got to know each other during Ryder Cups. But Darren Clarke, who has competed against both, expects the rivalry to intensify during the match. “Different people think this is going to be a fun match but both are natural-born winners. At some stage you are going to see it get a bit uncomfortable as both will call out each other,“ he said. The most intriguing thing is the gambling aspect. The players will set their own odds on shots during different times and fans will be able to bet along with them. Clarke said gambling has been a part of the European Tour for years and it will be interesting to see how it does on Friday. Craig Barry, who is Turner’s executive vice president and chief content officer, is also interested to see how the side bets work out, especially since more states are approving sports gambling. “It makes you follow along more and engage. It definitely does create a deeper and richer narrative,“ Barry said. Don’t expect gambling to become a part of Turner’s National Basketball Association and Champions League coverage, though, since that appears to be a long way off.

“This is very different than anything golf has ever done in the past. That’s one of the unique things about it. We’re able to showcase our sport in such a different light and all the different technologies we’re going to be bringing to this event, and doing it differently than any other golfing event has ever been done. That’s the exciting thing for not only myself and Phil, but I think for all the viewers that are going to watch,“ Woods said. Woods and Mickelson already have high stakes on the first hole. Mickelson said he would wager $100,000 that he would birdie the first hole and Woods doubled it.

MANY GOLF FANS ARE USED TO MADE-FOR-TV EVENTS THAT HAVE BEEN GENTEEL AFFAIRS. THIS WILL BE THE COMPLETE OPPOSITE.

Trump plays with Nicklaus

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ALM BEACH, Florida—President Donald J. Trump is spending the first day of his Thanksgiving break taking advantage of the good golfing weather. White House Spokesman Stephanie Grisham says the president was playing “a quick round“ on Wednesday with golf legend Jack Nicklaus, Nicklaus’s professional golfer son Gary, and his grandson GT. Trump has also been busy tweet-

ing since arriving in Florida on Tuesday evening. The trip is Trump’s first of the season to his private Mar-a-Lago club, where he typically spends Thanksgiving, Christmas and many winter weekends. The president’s trips typically include frequent visits to his nearby golf courses, where he played last year with the Nicklauses, as well as with Dustin Johnson and Tiger Woods. The White House rarely tells reporters when Trump is hitting the links. AP

DONALD J. TRUMP plays “a quick round“ with golf legend Jack Nicklaus. AP

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Friday, November 23, 2018

CLARET ALUMNI GOLF ON TODAY

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HE Claret School of Quezon City Alumni Batches ’78, ’79 and ’80 will be staging the Sixth Claret Alumni Classic Golf Tournament on Friday at the Villamor Air Base Golf Course. A record number of golfers from the Claretian community and guests are expected to participate in this annual 18-hole tournament. Tee off time is 8 a.m. The funds raised from the charity game will boost the resources of the Claret Samal Foundation Inc. The pastoral endeavor of the Claretian Missionary Fathers (CMF) in the Philippines caters to the needs of the most disadvantaged group in the island of Basilan—the Samal-Badjaos. The foundation, currently headed by Fr. Martin Ele, CMF, serves as a conduit of resources for extending educational, health care and livelihood support. Major sponsors are Metro Pacific Investment Corp., San Miguel Corp., Global Utility Development Corp., Cherrylume Roofing, Elm's Cafe, Archipelago Builders, MMDA, NLEX, Motolite, JTI, Asia United Bank, MFH Builders, GAC Philippines Inc., Saber Construction and Development Corp., Clean Leaf International, Claret Batch 80- USA and The Turf Co. Media partners are the BusinessMirror and 104.3 FM2

WESTBROOK STARS, DIALLO HURT IN THUNDER’S WIN OVER WARRIORS

A CLEVELAND fan holds up a poster thanking LeBron James before the Lakers and Cavaliers game on Wednesday. AP

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‘THANK YOU, LEBRON’ C

LEVELAND—Once the video tribute ended, a simple sentiment filled the giant scoreboard. Against a black backdrop, giant white letters delivered the heartfelt message. Cleveland wanted to say something. “THANK YOU, LeBRON,” it said. Eight years after he was treated like a thug, LeBron James was welcomed back properly. Back on the court where he performed for 11 seasons, and under the title banner he helped raise, James returned to Cleveland and rallied the Los Angeles Lakers to a 109-105 win on Wednesday night over the Cavaliers, who played their best game of the season against their former teammate but couldn’t stop him when it mattered most. James finished with 32 points, 14 rebounds and seven assists. He also scored or assisted on 11 straight points as the Lakers overcame a 99-91 deficit in the fourth quarter. But basketball took a backseat to James’s homecoming, which was so different than his return in 2010, when betrayed Cleveland fans unleashed their fury on him.

There were no profane chants this time. No derogatory signs. No venom. Only love, and James felt it. “From the time we landed yesterday, it just felt a different way,” he said. “I’m a different person. We’re all different from eight years ago, both good and bad. But more important, this experience has been great. So it’s all about growth and we all have grown from that moment eight years ago. So I kind of leave the past in the past and always focus on the present and see what happens in the future.” The Cavs, who came in a league-worst 2-13, gave James and the Lakers all they could handle. And even after giving up an eight-point lead, they had a chance to tie late, but Kyle Korver missed a wide-open three-pointer with 17 seconds left and Kentavious Caldwell-Pope made four free throws in the final 15 to seal it for Los Angeles. Jordan Clarkson had 20 points and Tristan Thompson 14 and 15 rebounds for Cleveland. From the moment he stepped back onto Quicken Loans Arena floor, James was treated like

a returning champion. On the night before Thanksgiving, Cleveland said thanks to the Northeast Ohio son, the one who ended the city’s 52-year championship drought. “A hero has come back,” Cavs Coach Larry Drew said before tip-off. James was the last Lakers player introduced before the game, presented with a line familiar to all Cavs fans: “A 6-foot-8 forward from St. VincentSt. Mary High School,” said arena announcer Sean Peebles. “Welcome home! LeBron James.“ The crowd roared and stood as James walked out and huddled with his new teammates, who must have wondered what was in store for them. But unlike that ugly night of December 2, 2010, when James returned with the Miami Heat and was subjected to a toxic, charged atmosphere of hatred unlike anything seen before or since, this was a night for celebration—and maybe more closure. James has moved on. Cleveland, too. With 8:09 left in the first quarter, James was

saluted by the Cavs with a moving video tribute during a timeout. Images of James’s playing days with Cleveland—highlighted by the Cavs’ historic comeback to win the 2016 title—were shown along with video clips of his impact on the community, including his opening of the I Promise School in his hometown of Akron. James was touched by the presentation. He bit his lower lip while walking back onto court and pointed to all corners of the building in appreciation, his chance to reconnect with a fan base he’ll always share a special, if not complicated, relationship. “I appreciate these fans, just as much as they appreciate me,“ he said. “Every single night we stepped on the floor, they always showed their appreciation to not only myself but to my teammates over these 11 years, especially the last four years—those championship runs that we were making. So that was just my salute to them for appreciating what I was able to accomplish with my teammates and coaches along those four years.“ AP

BUSY SKY WEEKEND

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KYSports pay-per-view brings three highly anticipated events—The Match featuring golf giants Tiger Woods and Phil Mickelson, Pinoy Pride 45 and the trilogy bout between UFC Hall of Famers Chuck Liddell and Tito Ortiz on Saturday and Sunday. The Woods-Mickelson rivalry continues in a winner-takes-all match at 3 a.m. on Saturday featuring a bounty worth $9 million. Besides the pot money, Woods and Mickelson also have the chance to selectively make challenges that could raise the stakes. Witness the rare golf event for only P199. Boxing fans are also up for a triple header championship event on the same day as Jeo “Santino” San-

tisima defends his World Boxing Organization (WBO) Oriental super bantamweight against Uriel Lopez. Cagayan de Oro native and WBO Intercontinental super-bantamweight champion Prince Albert Pagara will also put his title on the line against Ghanaian George Krampah. Trying his luck, meanwhile, is Kevin Cataraja who will fight Hugo Reyes for the vacant WBO World Youth super-flyweight belt. The Pinoy Pride 45: Quest for Greatness will also air on Saturday at 6:30 p.m. for P99. UFC Hall of Famers Chuck Liddell and Tito Ortiz will go toe-to-toe against each other for the third time on Sunday at 7 a.m.

AKLAND, California—Three Thunder players were injured and Oklahoma City still left Oracle Arena with a lopsided win against the ailing, slumping two-time defending National Basketball Association (NBA) champions. Russell Westbrook recorded his first tripledouble of the season as Oklahoma City defeated the Golden State Warriors, 123-95, on Wednesday night, when Thunder rookie Hamidou Diallo was carted off on a stretcher with 7:17 left but avoided a serious injury according to the team after x-rays and Warriors doctors evaluated him. OKC’s Terrance Ferguson returned from a two-game absence as he welcomed a baby, then went down at the 5:41 mark of the first quarter with a sprained left ankle and didn’t return. Nerlens Noel received stitches after getting hit in the face during the second quarter. “There’s just been a lot of things on this road trip that have impacted any level of consistency, our rotation, of having any idea of who’s going to be playing,” Thunder Coach Billy Donovan said. Diallo’s left leg was stabilized as he was wheeled away to applause from the Oracle Arena crowd. Diallo was credited for rebounding Jonas Jerebko’s missed lay-up when they both went down hard. Westbrook began 1 for 6, then hit his stride, finishing with 11 points, 13 assists, 11 rebounds. It was his second game back since missing five with a sprained left ankle, then another when he welcomed twin daughters on Saturday night. “Just having each other’s back. When guys go down, we’re a family here and we have to have our brother’s back, and that’s what we’re going to do,” Westbrook said. Paul George had 25 points, nine rebounds and five assists and Steven Adams contributed 20 points and 11 rebounds as the Thunder sent the Warriors to their first four-game skid in nearly six years. Kevin Durant and Klay Thompson scored 27 points apiece, with Durant grabbing a seasonbest 14 rebounds for the Warriors, who were again playing without All-Star starters Stephen Curry and Draymond Green, as well as key reserve Alfonzo McKinnie. “It wasn’t pretty tonight, and it hasn’t been these last four games,” Thompson said. “If you want to take a positive out of it, that’s the first time we’ve lost four games in a row under Steve [Kerr]. That’s pretty incredible.” Clearly in pain, Diallo moved himself off the court and was under basket for several minutes. In a loss on Monday at Sacramento, Diallo became the first Thunder rookie ever to go at least 7 for 7 from the floor. He made both his three-point tries on the way to 18 points. Westbrook’s three-pointer 4:17 before halftime put the Thunder ahead, 50-37. AP

OHTANI: MLB A WHOLE NEW BALLGAME

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OKYO—Shohei Ohtani says it didn’t take him long to realize he was competing at a much-higher level during his first season in Major League Baseball (MLB). Ohtani returned to Japan and held a news conference at the National Press Club, where he spoke at length on his first season with the Los Angeles Angels. “Everything was different—the baseball, the culture,” Ohtani said on Thursday. In the baseball, “I was aware right away of a higher level of power, technique and speed.” Ohtani won American League Rookie of the Year earlier this month despite an elbow injury that disrupted his switch from Japan to the major leagues and likely will prevent him from pitching next year. He didn’t play between June 4 and July 3 because of a sprained ulnar collateral ligament in his right elbow, an injury the Angels were aware of when they signed him last winter. The 24-year-old right-hander had Tommy John surgery on October 1 and hopes to be able to help the Angels at the plate next season. He probably won’t take the mound again until 2020. In an indication that he plans to continue both pitching and batting, Ohtani said having surgery made the most sense. “I’m glad I had the surgery,” Ohtani said. “Of course, there was some reluctance over whether to have it but considering the long term I decided it was necessary.” As a pitcher, Ohtani was 4-2 with a 3.31 ERA and 63

SHOHEI OHTANI: Everything is different—the baseball, the culture. AP

strikeouts over 51 2/3 innings in 10 starts. As a designated hitter, he batted .285 with 22 homers and 61 RBIs and a .925 OPS in 367 plate appearances. Ohtani was also asked about the 2020 Tokyo Olympics, where his sport is making a return after being dropped after the 2008 Beijing Games. AP

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ALTAS OPEN DEFENSE

OF N.C.A.A. CROWN

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NIVERSITY of Perpetual Help System Dalta opens defense of the men’s crown as the Stags face off with the San Beda Red Lions at the start on Friday of the 94th National Collegiate Athletic Association volleyball tournament at the Filoil Flying V Centre in San Juan City. Led by rookie Most Valuable Player Joebert Almodiel, the Altas dominated the elimination round and swept their way to the finals in nine games, but found a strong challenge from the Arellano University Chiefs before prevailing in a series that went the full three games to cop their 11th title. The Junior Altas, meanwhile, reigned supreme in the high-school side by sweeping the Letran Squires in two games in the finals to grab their 10th championship. Almodiel is expected to be at the forefront of the Las Piñas-based school’s campaign following the departure of Warren Catipay, Rey Taneo and Jack Kalingking, who have all graduated early this year. Filling the gaping hole left by the veterans are Ridzuan Muhali, Cocoy Ramos, Rnniel Rosales, Gilbert Balmores and rookies EJ Casana, Aljoe Sereno, Louie Ramirez, John Rick Baggayan, Awie Abdullah and John Christian Enarciso. “We will do our best to preserve the winning tradition of Perpetual Help,” Perpetual Help Coach Sammy Acaylar said. In the women’s section, Arellano University opens its title-retention bid as it tackles Jose Rizal University at noon. Perpetual Help faces San Beda at 4 p.m. JRU President Dr. Vince Fabella was invited to give the welcome remarks in the opening ceremony. He will be joined by the national women’s team’s Shaq de los Santos, Abi Marano and Mika Reyes as special guests.

Friday, November 23, 2018

GUIAO HOLDS FORT T VS. JORDAN COACH R

Ultra 4 endurance race set at Clark Speedway

EMINISCENT of the infamous brawl between Gilas Pilipinas and Australia in July, the national squad was again embroiled in a heated duel with a pesky Jordan squad on Wednesday night. The scene could have gone that ugly Aussie way again, but the players have learned their lessons. Instead of a brawl, a shouting incident between the opposing national coaches marred the tune-up game the Filipinos prematurely won, 82-73, at the Meralco Gym. It was their second meeting after the nationals dropped a 92-98 decision last Monday. The verbal confrontation between Yeng Guiao and his counterpart Joseph Stiebing midway the fourth quarter forced officials to stop the game. Guiao told reporters that the visitors were “too rugged” since the first game and there were a lot of second motions. “Of course, it’s the responsibility of the referees to take control of the game. It’s also my responsibility to keep my players safe. They’re very rugged as I’ve said,” Guiao said.

TEAM Philippines Head Coach Yeng Guiao engages Jordanian counterpart Joseph Stiebing in a heated exchange of words.

“The coach said he was going to take my ass. So, I was challenging him to take my ass. He didn’t do it,” he added, accusing the Jordanian coach of sparking the confrontation. “I just don’t want to be bullied in our own

COCOLIFE’S Denden Lazaro saves the ball.

LIFESAVERS UNBLEMISHED

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ENERIKA-AYALA closed out the first round on a high note with a 26-24, 2025, 25-17, 25-19 victory over Cocolife in the Philippine Superliga All-Filipino Conference on Thursday at the Filoil Flying V Centre in San Juan. Head Coach Sherwin Meneses missed the action, but it didn’t matter as the Lifesavers unleashed their balanced attack to cruise to their fourth straight win in the women’s club tournament bankrolled by Isuzu, Sogo, Asics, Mikasa, Mueller, UCPB Gen and Bizooku with Genius Sports as technical provider. With the win, Generika-Ayala forged a tie with idle Cignal at fourth spot with a 4-3 won-lost record in the tournament that also has ESPN5, Hyper HD and Aksyon TV as

broadcast partners. Patty Orendain scored 22 points while Fiola Ceballos unleashed an all-around performance of 20 points, 13 digs and 13 excellent receptions for the Lifesavers, who gained confidence after bringing down powerhouse F2 Logistics in four sets two weeks ago. Angeli Araneta and Ria Meneses were also impressive as they chipped in 18 and 10 points, respectively, while prized libero Kath Arado registered 31 digs and 21 excellent receptions in a match that took almost two hours to finish. “We started the conference with three straight losses. That was tough. But when we won over F2 Logistics, that’s when things turned around for us,” Generika-Ayala Assistant Coach

Parley Tupaz said. “After that win, we gained confidence, we were able to play at our best.” Tupaz, who called the shots in lieu of Meneses who was abroad to attend an FIVB coaching course seminar, added that although they remain a work in progress, they are glad that they are slowly developing their chemistry and cohesion needed for the tough grind ahead. “Although there’s still a lot to work on but we’re happy that we’ve managed to get to where we are right now while working hard for what we want more.” Filipino-American spiker Kalei Mau tallied a game-high 26 points, 12 digs and 16 excellent receptions for Cocolife, which slid to 1-6. Alex Tan and Arianna Angustia also contributed 10 markers apiece.

Vera defends ONE belt opposite Italian fighter B RANDON VERA pledged to give it all for his countrymen as he leads four other Filipinos who will see action in ONE: Conquest of Champions on Friday at the Mall of Asia Arena in Pasay City. Vera will defend his heavyweight belt against Mauro Cerilli of Italy in the main bout, while former lightweight champion Eduard Folayang tries to regain the crown against Amir Khan of Indonesia in the co-main event. The 41-year-old Vera is coming off a twoyear layoff. He appeared in a local movie BuyBust. Holding a record of 15 wins and seven losses, the Filipino-American promised to never

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surrender the title in his homeland. “The belt is going to stay in the Philippines,” Vera said. “This is home for me. I really missed this and I am excited to perform.” Cerilli, meanwhile, is making his debut in the ONE cage after his stint in a London-based fight promotion. Armed with a five-match win streak, Cerilli knew he should go for the extra mile in order to defeat a fighter he considers “the best in the world.” “Brandon is a great champion. I will be in the best shape of my career and I’m looking to score the upset,” he said. Folayang, on the other hand, is out to re-

deem his glory after losing badly to Martin Nguyen last year. After that painful loss that also took away his lightweight crown, the Benguet native won two consecutive bouts and is now ready to strap the belt again. “Last year, things didn’t go as I expected. I lost the title. But this year is a new chapter. I worked extremely hard to come back here for another opportunity,” Folayang said. Also representing the country are Honorio Banario, who will face Rahul Raju of India, Jeremy Miado against Peng Xue Wen of China, and Rockie Bactol against Akihiro Fujisawa of Japan. Ramon Rafael Bonilla

country. They were bullying us all the way,” the NLEX Road Warriors tactician stressed. It was in the 6:26-minute mark of the fourth period when the game was halted after the bench reacted when a Jordan player threw the

ball to Scottie Thompson after foul. Guiao didn’t like the move and approached the player in midcourt. But Stiebing joined the fray and triggered a verbal spat that ultimately prompted the visitors to pull out from the venue. “Their player threw the ball on our player. It was unnecessary,” Guiao said. Japeth Aguilar and Christian Standhardinger paced Team Pilipinas with 15 and 10 points, respectively. The nationals will face Lebanon next on Friday at 8 p.m. in the same venue. The squad is using the tune-up games to prepare themselves for two home games against Kazakhstan on November 30 and Iran on December 3. Currently, Team Pilipinas holds a 5-3 wonlost record in third place in Group F behind Australia (7-1) and Iran (6-2). New Zealand (7-1) leads Group E, with second placers Lebanon and South Korea, both with 6-2 cards, trailing. Only the top 7 teams will advance to the World Cup next year in China. Ramon Rafael Bonilla

HE Ultra 4 endurance race organized by Tuason Racing School (TRS) unwraps on Saturday from 9 a.m. to 5 p.m. at the Clark International Speedway in Pampanga. On race day, the performance and reliability of Formula V1 cars that saw action at the recently concluded GITI-Formula V1 Challenge will again be put to test in the grueling four-hour endurance run at the 4.2-kilometer circuit. Car enthusiasts will also have a field day watching exotic sports cars participating in the Cars and Coffee super cars track event. TRS President JP Tuason said at least 18 teams are expected to battle it out for supremacy in the endurance race. Tuason, however, emphasized that the event is not exclusive for race car drivers as it offers fun activities for the entire family, as well. TRS is also hosting the OMP Virtual Challenge. The affair is also a whole family event—while everyone’s busy cheering for their favorite race drivers, toddlers may spend time driving fun cars while learning basic traffic rules at the Kiddie Road Safety Park. TRS officials have prepared prizes for top endurance drivers and participants of various fun activities. Admission is free. The event is supported by GITI, Clean Fuel, Motul, Rota magwheels, OMP, Philippine Airlines, AEG Power Tools and West Racing Cars.

Father in heaven

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EAR Father in heaven, help us to be useful today. Give us the strength to walk into those opportunities. Inspire us to know You more, love You most and serve You, long. Make us be faithful to perform these reasons You created us. 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

CLAIRE FOY SPINS A ‘SPIDER’S WEB’ T

ATTOOED cyber-mercenary Lisbeth Salander is a role that on the page is an actor’s dream job: mercurial, gifted, tough, mysterious and unconventional in every way, yet fueled by a clear-cut sense of right and wrong. To do bad is to ignite her passion for justice, especially if an evildoer targets the vulnerable. The Crown star Claire Foy, one of the most captivating actresses to hit screens big and small in recent years, steps into the role of Lisbeth Salander in Columbia Pictures’s new blistering thriller The Girl in the Spider’s Web, directed by Fede Alvarez. Fans will experience an all-new Lisbeth Salander adventure that finds this misfit outsider—21st-century fiction’s most original and complicated warrior for justice—in the middle of her most dangerous and personally revealing crusade yet. Golden Globe winner Claire Foy talks about being Lisbeth Salander and spinning a web. Had you read the books and were you familiar with this character? Yes. I read the first two, so I was definitely familiar with it. I think everybody is. She’s (Lisbeth Salander) become sort of a modern kind of icon in a way. And I loved, loved the books. I just found it quite eye-opening, and especially a story which focuses around a woman and that she’s sort of the most interesting person to follow, as well. I was a fan of the books but obviously I’ve reread and reread and reread them now. Talk about her character a little bit. Who is she? The thing about Lisbeth is she didn’t trust anyone, and she’d been so hurt in the past. In this film she is sort of a formed character in a way. She’s entirely independent. She’s a fighter and I think that she for a long time had something to fight against, and you sort of find her in this film not really having a purpose. But she’s stronger than she looks. Tell us about the dragon tattoo. The tattoo is the most important thing because there are specific tattoos that she has in the book. I wanted to make sure that I honored that and got them all right. And I think like a lot of people that get tattoos, Lisbeth gets them to mark certain points in her life. And the dragon, I was really keen for it to move away from the Chinese dragon and more toward the north, kind of Scandinavian dragon because I felt that hadn’t been investigated. I really wanted the wing of the dragon to be on my shoulder so that it could move a bit. And we came up with the idea of having flames that come from the dragon’s

mouth up the back of the neck. Can you explain the white makeup? She is a bit of a vigilante in the sense. She’s very, very clever, like, extremely intelligent, and so she knows that she can’t be recognized. It’s more about a warrior mask to make them know that “you” mean business. What are some strong female elements in this film that you appreciate? The thing that I take away from Lisbeth is less about the violence and less about being physically an equal to a man because she knows that she never is. But what Lisbeth uses is her intelligence. You may not be as strong as someone, but you can be faster than them in a different way. You can think your way out of a situation in a different way. What was special about working with Fede? Fede is genuinely a very special director. He is so musical. He understands filmmaking in a way that is, he’s sort of an audience member but also the director at the same time, which I think is very, very rare. He understands when you need to change the rhythm and the pace of the film in order to communicate something about the story, but also to keep the audience interested, but also to let them learn something else about the character. He plots it all and knows it all in such a kind of musical way. What are some of the elements in this film that should be seen on the big screen? It is such a cinematic movie, just the scale of it and the shots that Fede has chosen. It’s so beautifully lit. I think it is vast in scope really. Yeah, it has to be seen on the big screen. What was it like working with Sylvia Hoeks, who plays Camilla Salander, Lisbeth’s sister? I love Sylvia. I think she’s amazing. I think she’s such a gifted actress. I really do. After every scene I literally was like, “Sylvia, I think you’re amazing.” She’s open to anything. She’s full of energy. She wants to go full throttle into it. She doesn’t want to play it safe. She’s mentally very strong. She’s just brilliant. I think she’s amazing. Do you think this is more of a global story? I think the film’s really interesting because it’s not just a thriller. It’s not just an action film. At the heart of it there’s something quite poignant and kind of heartbreaking. n Now in Philippine cinemas, The Girl in the Spider’s Web is distributed by Columbia Pictures.

SOMETHING LIKE LIFE: SAVING MADRID FUSION MANILA D4

Friday, November 23, 2018

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Friday, November 23, 2018

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Miley Cyrus, 26; Salli Richardson-Whitfield, 51; Robin Roberts, 58; Bruce Hornsby, 64. HAPPY BIRTHDAY: This is a year that can be filled with opportunities but is also one of excess, indulgence and poor choices. Look before you leap. Take the time to get down to the nitty-gritty and to uncover every aspect of any deal or change you want to pursue. Your integrity should not be compromised, regardless of what others do or say. Your lucky numbers are 9, 17, 23, 28, 31, 37, 45.

a

ARIES (March 21-April 19): A steady pace forward will get you where you want to go. There is money to be made if you don’t let your emotions interrupt your progress. A positive change to an important relationship will lead to joint ventures and future plans. HHHH

❶ ❶ THE

Shackleton Whisky

❷ GEORGE

SCHULZE, spokesman of Whyte & MackayAsia

❸ KENDRICK L. TAN, executive director of Whyte & Mackay

❷

❸

A legendary Arctic expedition reimagined I MAGINE braving the unforgiving cold of Antarctica—your fingers, cheeks, and limbs growing stiff and numb by the minute, with nothing but a glass of whiskey in your hand to keep you warm. That’s the experience that Whyte & Mackay recently recreated at Manila Marriott during the launch of Shackleton Blended Malt Scotch Whisky. The brand presented a simulated feel of Antarctica inspired by the harsh conditions that legendary British explorer Sir Ernest Shackleton and his team faced in the South Pole more than a century ago, transforming the cold kitchen of the Marriott Grand Ballroom into an ice bar with below-zero degree temperature. Shackleton’s hut, which served as the crew’s command center during the expedition, was replicated in another room, where temperature reached almost -10 degrees. Guests were ushered into the replica of Sir Ernest’s hut where they were greeted by bartenders who served them glasses filled with perfectly clear sculpted ice cubes. The ice cubes were then branded

with a compass logo, known to give explorers good fortune, before servings of Shackleton Blended Malt Scotch Whisky were poured onto them. It was in 1907 when Sir Ernest Shackleton made a daring attempt to become the first man to reach furthest south in the South Pole. Facing bitter winds, days of total darkness, and the perils of unknown terrain midway into the expedition, Sir Ernest made a bold decision to abandon his quest just 97 miles short from their destination to bring his crew to safety. Racing against time, the group left behind all their supplies at their base camp in Cape Royds, including three crates of Mackinlay’s Rare Old Highland Malt Whisky. A century later in 2007, 11 bottles of perfectly preserved whiskies were discovered frozen in ice and unearthed in Sir Ernest’s hut—a masterpiece that eventually gave birth to the modern taste of Shackleton Blended Malt Scotch Whisky. “It was with whiskey that Sir Ernest brought his crew together to toast wives and sweethearts, celebrate birthdays, and above all foster a sense

of team spirit that led them to succeed against the hardest of odds. For his bravery and achievements, King Edward VII knighted Shackleton upon his return home,” said George Schulze, premium brands spokesman of Whyte & Mackay-Asia. “Shackleton is the first blended malt brand to join Whyte & Mackay’s portfolio as a permanent offering. The result is a rich and robust whiskey, which offers notes of vanilla, honey, ginger and liquorice, with a whisper of bonfire smoke. Shackleton is bottled today, but it is based on the whiskey that our distillery produced 100 years ago. Sir Ernest’s group brought 25 cases with them to start their exploration, and this whiskey kept them warm and strong as they faced the difficult task of reaching furthest south in Antarctica,” said Schulze. Chef Chris Balane, sous chef of Marriott Hotel, led a team to carve 60 standard ice blocks each weighing 200 pounds for two weeks. “When I learned about the story behind the brand, it inspired me to create this ice bar in memory of Sir Ernest Shackleton’s adventure that gave birth to this whiskey,” he said. n

Dusit Thani Manila lights up for Christmas RESIDENT Manager Michael Kempf, Jerry Sibal, Makati City Mayor Abby Binay, Vice Chairman and President of Dusit Thani Philippines Inc. Mrs. Evelyn Singson and General Manager Stanley Lo.

DUSIT Thani Manila dazzled with elegance and the timeless message of Christmas filled the air during the Christmas tree-lighting ceremony held recently to officially welcome the holiday season in the hotel. To give a new approach to the traditional Christmas décor, Dusit commissioned New York-based and Filipino premier events designer Jerry Sibal to bring a Yuletide glow to the iconic hotel lobby. Sibal showcased a stunning creation of a life-sized fabricated art sculpture of golden Rudolph, the famous reindeer. The elaborate illustrations seen on Rudolph’s body, the sides of the platform and Santa’s sleigh evoked the look that characterized the baroque style of 17th century in Europe. A majestic 20-foot tall Christmas tree with glittering gold trinkets complemented the design of the lobby, which itself is a representation of traditional Thai architecture. Sibal’s version of “classical with a twist”

was highlighted during the ceremonial tree-lighting event, which was led by Sibal himself, Makati Mayor Abby Binay, Vice Chairman and President Evelyn Singson, General Manager Stanley Lo and Resident

Manager Michael Kempf. The powerhouse voices of The Angelos echoed through the lobby with well-loved Yuletide carols. Kuh Ledesma also graced the evening and serenaded the guests with classical favorites

and heart-warming Christmas hymns. This year the Christmas Reindeer Parade was launched as part of the hotel’s annual pledge of giving back to the community. Dusit invited eight different corporations to adopt a reindeer and breathe life into it through unique decorations that highlight their corporate brand and values. Part of the proceeds from this campaign will be donated to benefit the children of Operation Smile Philippines. The corporation with the most beautiful and meaningful reindeer will receive cash prizes to be donated to its chosen charity. The public can be also part of this meaningful endeavor as 30 percent of the total criteria for judging will be based from the most number of likes on Facebook. Go to the official Facebook page of Dusit Thani Manila to vote for your favorite reindeer and extend a helping hand to those who are in need. All eight reindeers will be exhibited at the hotel lobby until January 4, 2019.

b

TAURUS (April 20-May 20): Don’t leave anything to chance. Do your research and stay focused on what you are trying to accomplish. Learn from past experience, and you’ll stay on target and within your budget. Don’t trust anyone else to handle your affairs. HHH

c

GEMINI (May 21-June 20): There is no time to waste. Size up your situation and get things in order. If someone tries to lead you astray, cut him or her short and make it clear you know what you are doing. Love and romance are featured. HHH

d

CANCER (June 21-July 22): Don’t let the changes other people make influence you or disrupt your plans. Stick to your goal and be willing to put the energy and enthusiasm into finishing what you start. Your determination will pay off. HHH

e

LEO (July 23-Aug. 22): You are a great organizer and party planner, but don’t take on more than you can handle. You’ll end up footing the bill if you go over budget. Keep your plans within reason as well as affordable for others. HHHH

f

VIRGO (Aug. 23-Sept. 22): Problems will surface at home if someone is vague or dishonest. Ask direct questions before you move forward. Take time out to reflect and to mull over what’s transpired. Put your energy into personal growth and improvements. HH

g

LIBRA (Sept. 23-Oct. 22): A short trip or attending a reunion will do you good. Don’t believe everything you hear, but enjoy others’ stories, and share some of your adventures, as well. An offer is likely to come with stipulations that may not meet your criteria. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Learn as you go. Your curiosity will help you gather information that will encourage you to get involved in something unique. Check out the cost before you make a commitment. Knowledge is power; collect and document information. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home and surround yourself with people you trust. An argument with a friend, peer or relative will not end well or help you move forward. Share only what’s applicable. Offer too much information, and it will be used against you. HHH

j

CAPRICORN (Dec. 22-Jan. 19): You don’t have to agree to change if it doesn’t suit you. Do your own thing if you aren’t comfortable with the stipulations or ramifications involved in a plan or offer someone presents. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Host an event or make changes to your living arrangements or quarters. An opportunity will result from a friendly conversation with someone you enjoy collaborating with. Check for any potential problems before you proceed. HHHHH

l

PISCES (Feb. 19-March 20): Keep the peace, no matter what transpires. Arguments will ruin your day and your relationship with someone you value as a friend or lover. Concentrate on what you can accomplish that will make your homestead more inviting. HH BIRTHDAY BABY: You are engaging, talkative and compassionate. You are unpredictable and playful.

‘take the yawn way home’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 It has none better 5 Comics page unit 10 Brief parting words 14 Word after a drop 15 Make fun of 16 Words of estimation 17 Collegiate points title holder? Yawn 20 Loss or damage 21 Mouse-sighting cry 22 Bridgeport-to-Rhode Island dir. 23 Saturn’s wife 24 Owing money 27 Office fixture 29 High up 32 Word with “cave” 33 Deplete (with “up”) 36 Christmas tree hanging 38 Thing installed in a bathroom? Yawn 41 Choose personally 42 ___ Aviv 43 Mischievous rug rat 44 Do like a peacock 46 Masterful musical work

0 Big instruments 5 52 Retirement acct. 55 Holiday to spend a holiday? 56 Televise 57 Great watchfulness 60 Weak RBI? Yawn 63 Thing on piles 64 Bride’s path 65 Approach 66 “Same” anagram 67 Kind of box for a carpenter 68 Contributes DOWN 1 Became closer 2 Epoch of mammals 3 Sudden outpourings 4 Way-bygone monarch 5 Step’s big brother 6 Giudice, Wright or Brewer 7 Precipitate, commonly 8 Wasn’t brought up to date? 9 Hat rack part 10 Expressed wonderment 11 Train stoppers

2 Suffix with “athletic” 1 13 Beat or defeat 18 H.S. lab class 19 One square meter 24 “Otherwise...” 25 Firecracker’s sound 26 Firecracker’s big brother 28 Certain Iraqi 30 Sondra of Eastwood films 31 Sphere, in poems 34 Japanese city 35 Some Arab rulers 37 1986 film title cat 38 Showed up 39 Utilizes Southwest 40 Part of a frozen pond 41 Fruit juice brand 45 Argue over trivial things 47 Made a nickel-hitting-metal sound 48 Nude 49 Malicious looks 51 Zodiac’s scales 53 Part of a staircase 54 2001 boxing film

7 Famous Henry’s number 5 58 Research sch. 59 ___ and the King 60 Engine stat 61 180 swing-around, in slang 62 Dodge vehicle

Solution to yesterday’s puzzle:

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Friday, November 23, 2018

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Get in the holiday mood with Diana Ross, John Legend and more

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URE, your CD collection has not a few gems to get you into the holiday spirit. Sure, your Spotify subscription gives you access to a treasure trove of Christmas albums that range from the Vienna Boys Choir to Mariah Carey. Well, here are a few more to consider adding to your collection or your playlist. Here’s a collection of holiday albums reviewed by The Associated Press.

everyone’s latest EGOT winner—John Legend. On the modestly titled A Legendary Christmas, the singer mixes old chestnuts and new tunes, switches tempos from jazz to blues, and adds a few perfectly cast cameos. (Only Legend could get Stevie Wonder to play a little harmonica work on “What Christmas Means to Me”). Legend teams up with veteran producer Raphael Saadiq for new takes on classics, including an uptempo “Silver Bells” and a lush “Have Yourself a Merry Little Christmas” with guest Esperanza Spalding. “Christmas Time Is Here” gets the lounge treatment and he’s nicely unearthed Marvin Gaye’s “Purple Snowflakes.” Legend shows off his own songwriting with the delicious throwback “No Place Like Home” and cowrites the bustling “Bring Me Love” with Meghan Trainor. “Waiting for Christmas” is classic piano Legend, “Wrap Me Up in Your Love” is a smoky R&B standout and “By Christmas Eve”—a promise to get home, like an update on Brenda Russell’s “Get Here”— is simply sublime. The album’s cover features Legend in a Santa hat and bow tie, emulating one of Bing Crosby’s iconic Christmas albums. Bold move, Mr. Legend—but earned. This Christmas album is an instant classic.

—MARK KENNEDY ‘WONDERFUL CHRISTMAS TIME,’ DIANA ROSS (UME/ROSS RECORDS) ARE you in the mood for jolly, sing-along Christmas music? Diana Ross has you covered. Looking for something more serene, with religious tones? Diana Ross has you covered. Or are you looking for inspirational music that doesn’t necessarily have anything to do with the holidays? Again, Diana Ross has you covered. Her new Christmas album, the 20-track Wonderful Christmas Time, may actually have a track for every mood of the season with the exception of the bah-humbug crowd. Ross’s silky, smooth soprano takes on a wide variety of songs, from “Ave Maria” to “Let It Snow! Let It Snow! Let it Snow!” She also goes outside the Christmas arc with songs about peace and love, like Stevie Wonder’s “Overjoyed.” While there’s something for everyone here, the downside is the lack of cohesiveness: Even though “What the World Needs Now” is given a sweeping, classical approach, to go from that to “Amazing Grace” is still a bit of head-scratcher, despite a near seamless transition. Of course, it’s a small quibble, like complaining that you were offered too many pie options at the holiday meal. In the end, you’ll be deeply satisfied.

—NEKESA MUMBI MOODY

‘A LEGENDARY CHRISTMAS,’ JOHN LEGEND (COLUMBIA RECORDS) IF anyone needs a model for how to put out a successful Christmas album, look no further than

‘HAPPY XMAS,’ ERIC CLAPTON (BUSHBRANCH/SURFDOG) GUITAR god Eric Clapton may have been an unlikely rock star to cut a Christmas record, but for music fans looking for a bluesy alternative to the typical holiday dredge it’s as welcome as a steaming cup of hot chocolate on a wintry night. Happy Xmas steers clear of the typical holiday playlist, and thankfully has more hits than misses. “White Christmas” and “Lonesome Christmas” benefit from Clapton’s distinctive slowhand blues guitar style. The lone new song from Clapton, “For Love on Christmas Day,” will comfortably find a slot into soft rock holiday playlists but may turn off fans who prefer their Clapton with a little less schmaltz. The most un-Clapton song, “Jingle Bells [In Memory of Avicii],” is a tribute to the late EDM DJproducer Avicii, whom Clapton admired. It may be the first time “Jingle Bells” has ever been reimagined as a tribute to a DJ, but whatever. It bears little resemblance to the holiday standard, or anything Clapton has done before, making it a curiosity at the very least, and a standout track for those who treasure Christmas music that’s not just outside the box, but on another planet entirely. Kudos to the 73-year-old Clapton for at least making it interesting.—SCOTT BAUER

compilations with the addition of a new song or two. Season of Peace belongs in the latter category, complementing tunes from records released in 2001, 2005 and 2009 with an instrumental version of “Winter Wonderland” featuring ukulele wiz Jake Shimabukuro. If you don’t have any of the previous offerings, Season of Peace is a good holiday choice, as the intimacy and warmth of McDonald’s voice is wellsuited to the Christmas catalog of standards like “God Rest Ye Merry Gentlemen,” “O Holy Night” and “Have Yourself A Merry Little Christmas.” “Every Time Christmas Comes Around,” which he cowrote, sounds like the Doobie Brothers with the Earth, Wind & Fire horn section. Other tracks McDonald cowrote—such as “Peace” (written with Beth Nielsen Chapman), “To Make a Miracle” and “Christmas on the Bayou”—add a variety of styles and tones to the festive spirit and help make the compilation a worthy option. —PABLO GORONDI ‘THIS CHRISTMAS DAY,’ JESSIE J (LAVA/REPUBLIC) ENGLISH pop star Jessie J of “Bang Bang” fame shows off her jazzy side and a very serious ability to tackle standards on her first holiday album, This Christmas Day. It’s utterly charming—and utterly unmemorable. The talented songwriter and singer’s voice flutters beautifully over classics like “Let It Snow,” ‘’White Christmas” and “Silent Night” without doing anything different or interesting to them. It’s overly respectful, as zesty as eggnog. These songs have been done to death and everyone has their favorite versions. While Jessie J proves yet again she’s an underappreciated artist, she’s hardly dislodged, say, Brenda Lee from owning “Rockin’ Around the Christmas Tree.” Two duets—“Winter Wonderland” with Boyz II Men and “The Christmas Song” featuring Babyface— are highlights, as is her nicely fresh take on “Jingle Bells,” which she nicely owns. But let’s face it: This is mostly background music while we wait for Elvis or Sinatra or Mariah to show up.—MARK KENNEDY n AP

THE sudden passing of original Pilipino music (OPM) legend Rico J. Puno came as a major shock to many who mourned his demise. Puno, regarded as one of the prime movers of OPM, wowed and left us with a string of popular “national anthems,” such as his unique version of Barbra Streisand’s “The Way We Were,” “Kapalaran,” “Buhat,” “Macho Gwapito,” “Lupa,” “May Bukas Pa,” “Ang Tao’y Marupok,” “Magkasuyo Buong Gabi” and “You and I.” When singer Tosca Puno was asked about the concert of his father on November 23 at the Theatre at Solaire, she said, “I know my Papa will say that the show must go on!” It was announced recently that Music and Laughter: Sana Tatlo ang Puso Ko with Giselle Sanchez and Marissa Sanchez will push through to pay tribute to the Total Entertainer. Joining the show are Marco Sison, Nonoy Zuniga, Nanette Inventor and Eric Nicolas, with the special participation of Tosca Puno and Rox Puno. Giselle reminisces, “I just love how the audience laugh and fall off their seats from our jokes. Only Rico and I can pull something that naughty and still appear respectable after the show. I am so happy that so many stars have agreed to join this musical because this is exactly how Rico imagined it to be. He had so many ideas and was so excited about our concert, and he told us this will be our biggest concert in 2018. Rico, we promise not to let you down. This will still be our biggest concert in 2018, and you are the biggest part of it. We love you, Corics.” Marissa promises, “The show is going to be filled with the spirit of Kuya Rico J as if he’s [still] alive. It will definitely be a happy and enjoyable show, which is how he would want it. I will miss his uniqueness; his brand of green comedy is something that he gets away [with] without being grossly offensive.” Expect the unexpected on November 23, at the Theatre at Solaire, an affair to remember filled with music, hilarity and reminiscing. Now dubbed as Music and Laughter: A tribute show for Rico J. Puno, the show is presented by Grand Leisure Corp. and StartUp Village, in cooperation with Solaire Resort & Casino. For tickets, call 891-9999 or visit www.ticketworld.com.ph.

‘SEASON OF PEACE: THE CHRISTMAS COLLECTION,’ MICHAEL MCDONALD (BMG RECORDS) MICHAEL MCDONALD is no newcomer to the Christmas album genre. He’s recorded two original discs while also putting tracks from those records on

Working student wins P350,000 in GMA’s Kapuso Milyonation KrisMasaya TWENTY-THREE-YEAR-OLD Dennis Olavere, an Alternative Learning System student and a local mall exhaust cleaner, had luck on his side after winning GMA Kapuso Milyonation KrisMasaya’s P350,000 surprise cash prize. One of six siblings, Olavere helps to support his retired mother. Both of them are avid Kapuso Milyonaryo participants and collected large amounts of proof-of-purchase entries. They were lucky enough to win twice—first as a weekly cash winner and then as a surprise winner. “Magpadala lang kayo nang magpadala ng entries—malay niyo, kayo na ang susunod na manalo,” he advised other participants. He is planning to save his winnings for the meantime. Meanwhile, Olavere’s sari-sari store partner, JSB Store, also got lucky and won P5,000 worth of gift packs courtesy of the Kapuso Milyonation KrisMasaya’s participating sponsors. Now on its 13th season, Kapuso Milyonation KrisMasaya will be

A SHOW TRIBUTE TO RICO J. PUNO

giving away almost P12 million worth of prizes. On top of the surprise winner, there will be over 1,600 lucky winners of cash prizes and appliances nationwide including six winners of P1 million, and one winner of a brand-new house and lot from Lumina Homes—all tax-free. The participating brands of Kapuso Milyonation KrisMasaya include Tang, Bear Brand Fortified Powdered Milk Drink, Nescafé Creamy White, UFC Tamis-Anghang Banana Catsup, Ajinomoto Ginisa Flavor Seasoning Mix and Eden Cheese. Participants can also win additional prizes if they include the name of their partner sari-sari store. To qualify for these additional prizes, the name of the validsari-sari store where the proof-of-purchase entry was bought must be included, plus the store’s complete address and the contact number of the sarisari store owner. The sari-sari store owners will get the chance to receive special prizes along with the winning

participants. Submission of entries is until December 28, with over 700 drop boxes nationwide including GMA Network Center, GMA Regional TV and Radio Stations, selected Mercury Drug branches and selected Cebuana Lhuillier outlets.

HOW ABOUT SOME WEEKEND SHOPPING? INTERNATIONAL Bazaar is a much-awaited annual event, as goods provided by the Diplomatic and Consular Corps and local concessionaires are up for grabs. This year the International Bazaar Foundation Inc., together with the Department of Foreign Affairs, brings you the 52nd International Bazaar, which will be happening at the Philippine International Convention Center, Forums 1, 2 and 3, on November 25. Expect local and international products and shop for a cause to help build hope for families, children, women and the needy. The event will run from 9 am to 7 pm.

GISELLE SANCHEZ, Rico J. Puno and Marissa Sanchez

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Saving Madrid Fusión Manila SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

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O the word is out. Unless someone comes to its rescue, the fourth edition of Madrid Fusión Manila (MFM) slated for April 2019 is pretty much scrapped. I was told there were attempts to save it, by reaching out to the private sector to take a larger stake in mounting it next year, but there were only few willing to step up to the plate. One of the first private companies the Department of Tourism (DOT) approached was the event’s usual organizer. But the group opted not to get involved by investing its own funds in the exercise. The event’s cancellation was primarily due to the inadequate budget of the DOT and its marketing arm, the Tourism Promotions Board (TPB), both of which had been touched by a few financial scandals this year that led to the ouster of both of its former heads. While Tourism Secretary Bernadette Fatima Romulo Puyat was still willing to proceed with the event, she told me she could only do so if more private partners pitched in with their funds. I know it was a heartbreaking decision to make for her; she had been pretty much its staunchest supporter even while she was working at the Department of Agriculture (DA). Let’s not fool ourselves. It costs a lot of money to mount the event. To herald the country as the center of gastronomy in Asia, it takes a lot of advertising, marketing, promotions and networking. But in exchange, we had seen the best of the best in the international culinary world come to Manila, speak about their philosophies and explain their cooking techniques to an eager number of attendees, among

them culinary students. The MFM certainly brought into focus the Philippines as a culinary destination amid our white beaches, lush mountains and generally pleasant weather. Chef Elena Arzak in our interview praised the Philippines as a great destination for food. “I know there are many beautiful things to see in the Philippines but for me, food is also very important. It’s a place where people can come for the food and be very happy.” Among the local dishes she liked were the lato (seaweed) and the kinilaw (raw fish marinated in vinegar and spices). “You cannot compare it to ceviche,” she stressed. (See “The dish on the world’s best female chef,” BUSINESSMIRROR, May 1, 2015.) Even at Madrid Fusión in Spain itself, a lot of foreign delegates gather at the Philippine booth as soon as the aroma from our dishes being cooked start wafting through the event space. Word-of-mouth is the best form of advertising and our cuisine has benefited from it. Right now, Philippine cuisine is “it,” with chefs like Romy Dorotan (Cendrillon/Purple Yam), Tom Cunanan (Bad Saint), Dale Talde (Talde, Rice & Gold, Missoni), Leah Cohen (Pig & Khao) and the like creating adventurous Pinoy dishes. In London, I’m told Romulo Café has a good following not just from Filipino residents there, but also from mainstream British citizens. So I have no doubt the past three editions of MFM also helped lift it to greater international awareness. (Thanks, too, to the efforts of celebrity chefs like the late Anthony Bourdain and Andrew Zimmern.) Aside from the array of local food and ingredients made available during the regional lunches and at the trade show, what I loved especially about the MFM was how culinary students would excitedly talk about what they had just learned from the Congress speakers. As they watched the Michelinstarred chefs whip up their amazing dishes using world-class techniques, our young students’ minds were pricked, teased and enticed to experiment on their own. Getting acquainted with international-caliber cooking, as had been shown in the past three MFM editions, can only result in the leveling up of our own local chefs’ knowledge and expertise. And this can only bring honor to our country as these young chefs go out and make a name for themselves. As one wise man recently told me, “The key to developing

AT the international gastronomy congress, as our chefs learned from the world’s best, they too learned from the Philippines’s best. At right, Michelin-starred Chef Enrique Sandoval (Coque) asks Chef J. Gamboa (El Cirkulo) some details about the latter’s dish presented at MFM 2015.

competitiveness is exposure and challenge. The more introverted we become, the lower we set the bar.” It was also so exciting to find out what our local chefs and cooks were busy with. It was during the regional lunches cohosted by the DOT and DA that I took immense pleasure in Chef JP Anglo’s hearty batchoy, of which I still dream about especially when the rains come; discovered the gently spiced kinilaw of the master himself, Enting Lobaton of Sagay, Negros Occidental; or indulged in the delicate crab meat steamed in banana leaves served by Chef Gilbert Alan Mathay of Almont Hotel in Butuan City. So much Filipino talent, so many outstanding dishes, but, sigh, so little time to partake of all of them. Speaking of local ingredients, MFM also showed who our real food heroes are: our local farmers. Previously unknown by most Filipinos, produce like tinawon and adlai rice, tabon

tabon (atuna racemosa), sampinit (local raspberry), and local coffee beans from Sagada to Mount Apo suddenly became so in-demand—not just among local chefs but amateur cooks as well. (I’ve been using adlai rice for my risotto.) Then I’ve come across a wide-ranging array of interesting products like tutong (soccarat) ice cream from 1st Colonial; Destileria Limtuaco’s single grain whiskey, Julius James; and La Union’s Tigre Y Oliva dark chocolates made from local cacao beans, to name a few. This isn’t a eulogy for Madrid Fusión Manila. I’m still hoping the DOT, budget permitting, along with private-sector partners willing to help elevate Philippine cuisine, will still be able to serve up fourth and fifth editions of the gastronomy gathering. Life-changing events like the MFM may not be quantifiable immediately, but its influence will persist for a longer time than we know. n

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, November 23, 2018 E1

ROLLING ON

THE PICKUP GAME

THE Ford Ranger at Potipot, Zambales

THE new Ranger’s interior

THE Bi-Turbo Diesel engine

Story & Photos by Ronald Rey M. de los Reyes

F

ORD has been in the pickup game for about a century now. In fact, in Canada and the United States, their F-Series models have been the strong No. 1 for more than 40 years. “More than a hundred years ago we introduced the very first pickup truck, the Ford Model TT. A century later, Ford trucks have been the most iconic vehicles in the world,” said Ford Philippines Man-

aging Director Bertrand Lessard during a speech when they introduced the newest Ranger lineup a couple of months ago in Arca South, Taguig City. “Back over here, the Ranger con-

tinues to drive our weekend performance with year-to-date sales up by 16 percent despite the intense competition in the pickup segment,” he added. Hence, with this in mind, the American manufacturer organized a recent media drive to Zambales for us to personally feel how powerful the vehicle really is—and perhaps to also generally compare it to its other competitors. Together with skilled logistics partner Brand On Demand and efficient PR agency Ogilvy, we boarded eight Ranger vehicles—of which, four were the top-spec 4x4 Wildtrak pickups equipped with the newest 2.0 Bi-turbo diesel engines. The more than 550-kilometer

drive to Zambales and back allowed us to get acquainted with this bunch of workhorses, particularly the top variant. For one, the specific beast of burden measures 5,354-millimeter long and 1,860-mm wide, while standing at 1,821 mm and enjoying a superb wheelbase of 3,220 mm. Upfront, it sports a new bolder grille, matched with a more chiseled lower bumper. This much-coveted variant also gets to enjoy LED daytime running lights and HID headlights for optimal visibility and vision, as well as hoop sports bar, roof rails and bed rails. Putting icing on its fine swagger are 18-inch alloy wheels. Inside, it sports new a blackthemed interior complemented

with tactile surface finishes. Here, they get to also keep the 8-inch multifunctional display with SYNC3 feature compatible with Apple CarPlay and Android Auto handy. Performance-wise, the Ranger lineup offers three new choices: the new generation 2.0L Bi-Turbo and 2.0L Turbo engines and the Ranger’s proven 2.2L TDCi. The new-generation 2.0L Bi-Turbo diesel, in particular, is paired with an advanced 10-speed automatic transmission to provide greater torque, improved flexibility yet brings in a quieter and more comfortable drive. It pumps life of 210 hp and 500 N-m of maximum torque.

Trucks are Us

IN an interview, Lessard, meanwhile said: “Throughout its rich history, Ford has been working tirelessly in innovating these trucks. These innovations give today’s truck owners great towing and hauling capability, fuel efficiency and drive assist technologies that may be easier and more convenient to operate and quite extremely fun to drive.” “These achievements have made Ford the undisputed global leader in trucks. In fact, it is in our DNA. We sell more pickup trucks in the planet than anyone else.” And after I experienced this new Ranger firsthand in a drive up north, I truly believe that they have all the right to say—“that’s why Trucks are Us.”

Moto

Business

E2 Friday, November 23, 2018

Suzuki going strong into last quarter

C

ONSISTENT with its performance during the first two quarters of the year, pioneer compact car distributor Suzuki Philippines (SPH) finishes the third quarter with yet another strong showing, enabling the company to post a 6-percent sales growth for the first nine months of the year compared with the same period in 2017. Despite the industry slowdown these past months resulting from market reaction to the first-phase implementation of the TRAIN Law and the inflation surges, SPH was able to steadily increase its sales this year, with total sales volume exceeding 14,600 units as of September. The continued uptick reflects the brand’s strategic marketing efforts, which focused on back-to-back promotions and participation in various auto shows in recent months. SPH is looking to maximizing the momentum of its recent successes as it pushes through the remaining months of 2018. “With the economic challenges and diversifying market demands, it is important more than ever to become flexible yet aggressive with our efforts to make sure that the Suzuki brand will maintain, if not surpass, its current performance.” shared Director and General Manager for Automobile Keiichi Suzuki. “We do not intend to compromise our commitment to provide only the best-value vehicles to Filipinos no matter what challenges come along the way. We will continue driving forward and sharing the Suzuki Way of Life with even more Filipinos,” he added.

Top performers: Ertiga, Celerio and Vitara

The Ertiga, Celerio and Vitara remain the Suzuki best sellers. The three award-winning models accounted for 59 percent of total sales from January to September this year. The well-loved family vehicle Ertiga still dominates the Suzuki auto sales chart with a 33-percent share. The seven-seater Ertiga delivers utility, power and cost efficiency without scrimping on top-tier functionality and maximum accommodation, making it ideal for practical Filipino families seeking superior riding comfort. The second top-performing model is again the Celerio with a 14-percent share of total sales. Awarded as the Best Value-for-Money in the standard mini category in last year’s Auto Focus People’s Choice Awards (AFMCA), the Celerio hatchback features a compact design but delivers power and efficiency for a fun and versatile city drive. The Vitara, which celebrates its first year in the Philippine market this month, remains one of the top three best-performing models with a 12-percent sales share. Named the 2017 Cagi Car of the Year in the Subcompact Crossover category, the new Vitara boasts flexible personalization features in a stylish design. It delivers enhanced driving and safety qualities, making it the best city drive for Filipino millennials.

Back-to-back promotions and marketing initiatives

Suzuki’s active participation in the major activities of the Filipino driving community was a major

contributor to the company’s sustained sales growth. Suzuki Philippines showcased its range of innovative vehicles in the relevant auto shows of the year— the Philippine International Motor Show (PIMS) and the Manila International Auto Show (MIAS)—to expand influence and strengthen market foothold. At the recently concluded PIMS 2018, themed “Future Mobility,” SPH proudly displayed its latest and bestperforming models delivering superior fuel economy, distinct styling and innovative features. These are the all-new Swift and Dzire, Vitara and Ciaz. During the five-day event, the much-awaited, all-new Jimny also made its first public debut in the Philippines. Details about the official launch and release of the allnew Jimny in the local market will be revealed soon. Earlier this year, SPH participated in MIAS 2018 where the best-selling and award-winning Suzuki models Vitara, Ciaz and Ertiga were exhibited. The recently launched all-new Dzire was also put on display. Suzuki said: “We are more than grateful for the consistently warm response of the Filipino market. This continues to inspire us to deliver on the promise of making best-value and innovative vehicles accessible to even more Filipinos, which is why we are very active in joining the activities of the local automotive community. To extend our reach beyond the metropolis, we are bringing our vehicles a lot closer to Filipinos living in areas outside Metro Manila through our annual Suzuki AutoFest.”

Hyundai hits a new high ‘L

AST October’s performance only reflects that the performance of the automotive industry is beginning to normalize. Our growth outlook remains to be upbeat for the remainder of the year,” said Hyundai Asia Resources Inc. (Hari) President and CEO Ma. Fe Perez-Agudo.

SMPI President and CEO Wilson Lei (left) and Segway China executive Boris Zhao presenting Segway’s three new product

S

Story & photos by Randy S. Peregrino

IMPLY Moving Philippines Inc. (SMPI), the country’s key distributor of global-leading eco-friendly transporters, recently raised the bar in terms of personal e-transports by introducing three new electrifying models. By introducing these new exciting products, SMPI has also joined the bandwagon in pushing for a more environmentally responsible means of transportation in the country. “All Segway units are so environment-friendly since it does not use gasoline or oil, so therefore no smoke emission. These personal transporters can be operated indoor and outdoor in which you will be able to conserve energy and help to reduce pollution as you transport from one place to another in simple way,” said SMPI President and CEO Wilson Lei.

Performance and drivers

HARI, the official distributor of Hyundai vehicles in the country, experienced a new high in 2018 as October sales reached 3,578 units. A strong start to the fourth quarter of the year, October saw the brand grow 9.6 percent compared to October 2017. This puts the total January-to-October 2018 sales at 29,018 units, closing the gap with a minute decline of 5.5 percent to the 30,717 units sold in same period of the previous year. The sales performance of the brand remains consistent with the overall demand for automotive vehicles in the country. Monthly trend would show that unit sales would eventually pick up in the last two months of the year. Sales of the passenger car (PC) segment remain to be the brand’s volume driver, owing more than half of the brand’s total unit sales for the year. For October alone, PC sales amounted to 2,113 units or a 28.8-percent decline, totaling to 21,065 units from January to October. The light commercial vehicles

Segway three new pers

(LCV) segment has taken the spotlight as it grew from 1,153 units in October 2017 to 2,074 units this year, recording a 79.9-percent year-on-year growth. This amounts to a total of 12,155 units sold from January to October 2018, growing 25.9 percent compared to the same period of the previous year. The segment contributed to almost half of all the year-to-date Hyundai vehicle sales in 2018 with the successful introduction of the Kona, Hyundai’s entry to the subcompact SUV segment. The increased industrial activity has also given rise to the H100, Hyundai’s Small Utility Truck, which experienced a sudden surge in its 2018 sales growing 45.8 percent.

Sales and economic outlook

The Philippines remains to be

one of the fastest-growing economies in Asia, next to Vietnam and China. Although it did experience a slowdown in the third quarter of 2018, with the country’s gross domestic product easing to 6.1 percent. The slower-than-usual pace was weighed down by weakened household spending due to the consistently high inflation and the lowered agriculture output from the series of typhoons that hit the country. However, with October inflation easing to 6.7 percent, the Bangko Sentral ng Pilipinas projected that inflation has peaked and would begin to taper off till the end of the year. Hyundai is optimistic as economic headwinds are expected to slow down. The brand is in a strong position to take advantage of the remainder of the year as sales are expected to increase in the last two months of 2018.

One Z10

Presented first was the latest addi-

tion to the Monowheel Ninebot One Z series—the One Z10. Deemed as the most stable and fastest in the lineup, it allows the user to travel up to a speed of 45 kilometers per hour. Equipped with a large 18-inch rubber tire, it ensures stability, balance and safety. The tire’s thread design allows the user to traverse in both paved and dirt terrains. With quality tire, excellent shock absorption and comfortable footboards, user can easily maneuver through curbs, slopes,

One Z10 e-monowheel

bumps and other level of surfaces. Moreover, it is fitted with LED lights for better illumination in dark paths. Weighing 24 kilos with the 995Wh battery included, the One Z10 monowheel can travel a total theoretical range of 90 kilometers. The One

The future of By John Abbott

I JOHN ABBOT

Downstream Director, Royal Dutch Shell

N 1807, when he patented the first hydrogenpowered engine, François Isaac de Rivaz could have been forgiven for thinking he had found the future of transport. Yet here we are, more than 200 years later, still wrestling with the same question. What will drive us tomorrow? Some still say hydrogen. Some say battery electric power. Some say natural gas. I say, we must explore all the options. I believe that the future of transport will be shaped not by one solution, but many. De Rivaz’s hydrogen car

may not have been a success, but we can learn from his inventiveness, his vision, his will to do things differently. Because when it comes to the future of transport, we need every solution we can get—whether it is the rise of the electric jeepneys, tricycles or scooters on Manila’s roads or plans for a national network of electric vehicle charge points. We face a pressing challenge. Transport accounts for more than a quarter of the world’s energy use and one-fifth of global energy-related CO2 emissions. There are a billion cars on the roads today and this is expected to double by 2040. We must all consider this region’s energy future and how society will meet demand, while

oring

sMirror

Friday, November 23, 2018

launches sonal transports

E3

Eduardo “Randy” Sobrepeña (right) and Ronnie “Boxy” Malonzo from the Pampanga Off-roaders Club Inc. (PORCI) are all set for the Rainforest Challenge in Malaysia.

Tough enough? Story & photo by Ronald Rey M. de los Reyes

T

HE Rainforest Challenge (RFC) in Malaysia is considered as one of the toughest off-road competitions in the world. For this year, the Grand Finals is slated to be held from November 23 to December 5—a 10-day onslaught in the province of Kotabahru, at the west side of Malaysia, about 400 kilometers north of Kuala Lumpur. After finishing 45 races in 22 countries coming from Europe, Asia and South America, the RFC Global Series culminates at this tropical Southeast Asian country. “It is the most internationally represented off-road event in the world—just like the Olympics,” said official RFC Philippine representative Atty. Robby Consunji. “We’re coming at a time when the conditions of the grounds are very harsh, the weather is very harsh,” he added. “But our Philippine contingent is ready for it.”

Drift W1 e-skates

Pinoy pride

Ninebot GoKart

Z10 is priced at P98,999.75.

Drift W1

Next was Segway’s first and new e-Skates considered as the future of roller blades and in-line skates’ that enthusiasts would surely love—the

Drift W1. This new product utilizes the company’s proven and stable self-balancing technology from more than 800 patents. Built with rigid yet lightweight frame, its portable size can actually propel the user to up to 7.5 kph, effortlessly. Portable at 3.5 kilograms, users can enjoy up to 45 minutes of riding time. Moreover, front silicon bumpers, rear LED lights and even Bluetooth are enabled for personalized settings. The best part is that it only needs three hours of charging time. The Drift W1 e-Skates is valued at P24,999.75.

Go Kart Kit

Last but not the least was the Go Kart Kit deemed as the green alter-

native for the Karting enthusiasts. With the use of the Segway miniPRO self-balancing electric scooter, existing owners may convert it into a Go Kart by purchasing the add-on kit. When assembled, the Go Kart also offers an adjustable frame to stretch the wheelbase to accommodate both adults and kids. The unit also has personal and speed settings via the Segway app along with “follow me” mode and built-in LED headlight. Interestingly, this electric Go Kart is the first to employ a mechanical handbrake to further elevate the driving experience by way of drifting. Another impressive function is the reverse gear not common to Go Karts. With a maximum speed

of 24 kph, it offers an approximate range of 15 km depending on driving operation. If you already own the miniPRO, the kit is priced at P47,999.75. But if you are to purchase the entire Go Kart unit, it can be had for P95,999.75 Meanwhile, SMPI continues to uphold itself as a prime mover in environmental awareness through public orientation and propagation of an alternative means of transportation. “Though key distribution networks throughout the Philippines, SMPI intends to distribute, promote, lease and service Segway’s personal transport vehicles by tapping into various industries, such as local travel and tours, business companies and security,” added Lei.

Bearing our flag is the tandem of Eduardo “Randy” Sobrepeña and Ronnie “Boxy” Malonzo from the Pampanga Off-roaders Club Inc. The two captured the chance to represent the country after topping the RFC Global Series Philippines Championship Race staged in Pampanga from August 24 to 27—which was a grueling three-day off-road blitz. “We aim to be one of the top finishers,” said Sobrepeña during a send-off ceremony sponsored by Petron Corp. at the Diamond Residences in Makati During their speech, the team mentioned that they ought to duplicate the achievement of fatherand-son twosome Larry “Typhoon” and Hirryan Mendiola back in 2010 wherein the duo finished second overall, while representing Team Land Rover Philippines.

Off-road race ready

Sobrepeña also alluded to their preparations the past months,

stating that their vehicle setup, experience and mental conditioning are all primed up. They will be driving a 1978 Land Cruiser FJ40, which sports a 2F Petrol Engine, with ARB lockers in its front and rear axles, backup and power takeoff winches, equipped with Motolite dual-battery system while being powered by Petron Turbo Diesel and Petron Rev-X Turbo HTP as the official fuel and engine oil, among others. Aside from these, they have spent many hours watching videos of previous RFC participants in Malaysia to branstorm, study their equipment and simulate the various obstacles that were tackled.

Expect the worst

“We’re expecting the worst,” Sobrepeña, meanwhile, immediately replied without any hesitation when asked of what to expect in the challenge. “We’re seeing 10 times as hard as what we experienced in Pampanga. Dapat ready,” he added. Consunji then reiterated that the “pressure cooker” will be at a high. “Mental training is crucial, as participants will lack sleep, will be choosing between food and fuel. It’s going to be a really stressful event, very emotional,” he stresses. “Imagine 200 to 250 km of offroad conditions, it’s very remote. But these two have been seasoned off-roaders for many years now, so I now they can cope.” Both Sobrepeña and Malonzo have been doing off-roading for seven years now, with the former having been the president of their club in 2016.

Pinoy enthusiasts growing

Consunji said that, through the recent event in Pampanga and the upcoming challenge in Malaysia, more Filipinos are now inspired to do off-roading. “The number of off-road clubs are growing because of this,” he shared. “One of the objectives of RFC Global Series is to bring the Pinoy to the international stage arena and aspire for excellence.”

f mobility, not one solution but many reducing emissions to tackle climate change and air pollution. Last month the Intergovernmental Panel on Climate Change (IPCC) outlined the need for an ever more rapid transition to a lowercarbon world. This begins with CO2 emissions falling sharply from 2020. That is barely a year away. We need multiple solutions because no one solution can meet all needs, in all places, at all times. That is certainly a key conclusion of Shell’s latest scenario work, which was cited by the IPCC. Our Sky scenario sets out a challenging but plausible route the world could follow to meet the aims of the Paris agreement and re-

strict the rise in global average temperature in this century to well under 2°C. Given its significant impact, the transport sector must rise to this challenge. And to find solutions, we have to continue to work together. Indeed, Shell is in many ways heading on the same path as the Philippines and the wider region. Take battery electric cars. Indonesia, for example, has introduced incentives for electric cars on imports and battery manufacturing. China accounts for about half of global production and has the highest number of electric cars on the road. And in the Philippines, Shell is in talks to install the first network of fast charging points in the country in 100 of its forecourts.

In Europe, Shell acquired NewMotion, one of Europe’s largest providers of charge points, operating more than 40,000 private points for homes and businesses. When it comes to hydrogen as a fuel, it has potential for heavy freight, including rail. De Rivaz would certainly approve. In Japan their vision of a “hydrogen society” begins in 2020, with plans for fleets of hydrogen fuel cell vehicles serving the Olympic Games in Tokyo. Shell too, is increasing its investment in hydrogen. In Germany, for example, our plans include a joint venture to establish a nationwide network of 100 filling stations by 2019. Natural gas also has potential in trucking

and shipping. China, for example, has the world’s largest fleet of vehicles running on liquefied natural gas. Last year the number of LNG-powered trucks it produced rose to 96,000. Shell now has one LNG filling station in China, through a joint venture, and nine in Europe. We have also signed deals in shipping with Carnival to supply the world’s first LNG-powered cruise ships and with Sovcomflot, to supply the first LNG-powered oil tankers. And both Shell and the region recognize the potential of advanced biofuels, which could help the aviation sector in the future. In Indonesia the B20 regulation is a positive step toward the country’s emission-reduction targets. At

Shell, we are already one of the world’s biggest producers of biofuels, through our joint venture in Brazil, Raízen. It produces about 2 billion liters a year of ethanol from sugarcane, and continues to explore advanced biofuels. Digitalization, too, is creating potential for many other solutions. We see a future in which autonomous vehicles are connected and working as fleets. It is a future of innovative business models from ride sharing to mobilityon-demand. In Manila Shell has developed Connected Freight, which uses sophisticated route-optimisation technology to make innercity deliveries more efficient. There are plans to expand to other cities in the Philippines, to

Singapore and across Southeast Asia. Meanwhile, Shell’s work continues to improve today’s fuels and lubricants. Together with car makers—and policy-makers—we can continue to improve the efficiency of engines. And in shipping, Singapore is one of three ports where Shell is testing our new very low sulphur fuel oil. There is much happening, but if we want to meet the challenge posed by the future of transport, we must work together on a multitude of solutions. If we focus on one only, we risk the fate of de Rivaz’s hydrogen engine. And we must not let brave ideas stall, just when we need them most.

Motoring BusinessMirror

E4 Friday, November 23, 2018

No more driver’s license for octogenarians?

Here’s Admiral Fernandez (Luisito, retired): “Pare Al, baka maraming magalit. I had a senior officer who was still driving himself and his wife at the age of 92... I also remember reading a story about the mother of Sen. McCain who was more than 90 years old when she went to Paris with a friend. She could not rent a car because of her age. So she bought a Peugeot instead and toured France driving it…hehehe.” Any other thoughts, fellers?

R

ECENT police data show that at least 2,400 were killed in road-vehicle crashes in 2017. What a waste. Shockingly, most of the accidents were the result of faulty overtaking. Last weekend, one freak vehicle accident involved the father-in-law of Sen. Grace Poe. But it was not an overtaking incident. Dr. Teodorico Llamanzares overshot a parking lot and crashed through the concrete barrier. It happened in Greenhills, San Juan City, Metro Manila. Llamanzares, fresh from attending a Sunday Mass, was alone driving an automatic sport-utility vehicle (SUV) en route to Greenhills. Police say the 83-year-old Lla-

manzares must have stepped on the gas rather than the brake, causing it to plunge. Fortunately, the SUV hit nothing in its free fall. Miraculously, Llamanzares was not seriously hurt as attested to by doctors at Cardinal Santos Medical Center. I must say, he must have been saved from major injuries with his seatbelt on. This was the second time that a similar accident happened at the same parking lot after a car be-

Elvis Classic at MOA Complex

2018 Auto Focus Pre-Christmas Test Drive PHOTO BY JENNY BLEZA

ing driven by a 74-year-old male crashed through the same concrete barrier from the third level. Apparently, the concrete railings weren’t sturdy enough to prevent the crash?

The man, a former executive of the Philippine Basketball Association, was also not hurt seriously, although his car fell into an unattended vehicle down below. Following Llamanzares’s ac-

cident, I’m thinking of urging our lawmakers to craft a law banning octogenarians from driving fourwheel vehicles up. What do you think, Mr. Senate President Titosen?

BECAUSE I missed the annual TestDrive project recently of Ray Butch “Elvis” Gamboa at the MOA complex in Pasay due to an overseas trip, which is now virtually a classic as it attracts droves of motor buffs every time it is with us, I pay my dues by reprinting the following. It was written by no less than Vernon B. Sarne, my former boss at the now-defunct and iconic Top Gear of the Philippines: (In the interest of space, BusinessMirror Motoring deemed it best to share the link to the article that Mr. Mendoza is referring to. It can be found at: https://visor. ph/industry/heres-your-chance-totest-drive-your-dream-cars/. Our apologies.-Ed)

TROPICALIZED WIPERS FROM PIAA H

UMIDITY contributes to the deterioration of most wiper rubber blades, which requires car owners the hassle of replacing them every rainy season. PIAA of Japan recognizes this problem and came out with a modern, frameless design that boasts of all-weather performance. Thanks in part to PIAA’s extensive research and development program, the PIAA Si-Tech (Silicone Technology) provides end

users a wiper blade that lasts longer than the average wipers being sold in the market. Dubbed as the “Banana Type,” the key to the PIAA Si-Tech’s performance is its frameless design that creates more pressure points across the entire length of the blade for streak-free wiping. Moreover, the design eliminates snow and ice buildup. It is heat and ozone resistant, and its silicone rubber continually reapplies an active silicone coating on the windshield, assuring streak-free,

quiet operation. The PIAA Si-Tech (Silicone Technology) Flat Wiper Blade is an all-season, durable wiper blade that incorporates PIAA’s patented silicone rubber. Designed and engineered for all weather and extreme humidity conditions, this wiper blade is a modern, frameless design that delivers all-season performance, thanks to PIAA’s patented silicone impregnated rubber blades. The key to the PIAA Si-Tech’s performance is its frameless design that creates more pressure points across the entire length of the blade for streak-free wiping.

The wiper design and blade compound ensure even greater visibility by coating the windshield with silicone to promote continuous water beading in inclement weather. Water beads up into droplets at low speeds that are easily removed by ordinary wiping. And at higher speeds, wind pressure pushes the water off the windshield, often without even requiring wiper use. The silicone

coating also reduces drag and eliminates annoying and inefficient chattering and squeaking, regardless of the shape of the windshield, to provide greater comfort for both driver and passenger. And the best part: the PIAA Si-Tech Flat Wiper Blades reapply the silicone coating every time the wipers are used. PIAA wiper blades maintain a sharp, clean edge and offer better resistance to all climates (heat, ozone, ultra-violet)—clearly outperforming the industry-standard rubber blade. It is available in PIAA dealers nationwide.

A SOLUTION TO PARKING PROBLEMS A

S the Christmas rush approaches, parking is also a serious matter to consider, aside from horrendous traffic jams. These are two major issues that motorists encounter everyday in the urban jungle, where one mistake can either cost you a burglarized car or a getting towed in a business district like Makati or Ortigas. What happened in Japan, South Korea and Singapore, is also happening in Taiwan. Gentrification has caused a lot of areas around the whole country to build new highrise beside existing old structures. While this has helped bring up real-estate prices, it has also limited the options or spaces where people can park as most open spaces have been sold or are being developed. Before people used to park on the streets without any problems, now the streets are cleared out to accommodate rising traffic. This is where Smart Parking comes in. Smart Parking was first developed and used in Japan and eventually spread across to Korea, and its neighboring countries. One can convert an under utilized space of 33 square meter (approximately two parking slots) and increase it vertically to 12 or 16 vehicles. Ingress and egress is not a problem, as there is an optional turntable that can go with the unit. At 12.5 sq m per slot, that is an extra 150 sq m to 200 sq m of “real estate” that you have added into your existing property that can attract tenants and customers to your building. Smart Parking has sold over 566 units in over 32 countries. It can be installed in five days and is very safe, easy and economical to use. It carries a 10-year warranty on parts and lifetime free service on labor, which means maintenance cost is very minimal. And the best part is, should you wish to relocate it to another location, it can be easily transferred. For details on how to maximize your parking space, e-mail smartparking@emicorinc.com.