Businessmirror November 26, 2018

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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A broader look at todayt’s business n

Monday, November 26, 2018 Vol. 14 No. 47

Govt task force formed to check ‘Pogo’ workers W

By Jovee Marie N. dela Cruz @joveemarie & Samuel P. Medenilla @sam_medenilla

ITH several infrastructure projects with China now in the pipeline, the Department of Labor and Employment (DOLE) has started pressing other government agencies to enforce Philippine laws on allowing aliens to work in the country after some of those deployed in foreign-assisted projects were found without work permits.

The labor department is also studying a new policy mandating the Chinese workers to teach Filipino workers their language as a condition for the issuance of

working permits.

The DOLE’s attention had earlier been called to the seeming disparity in data on the small number of Chinese workers registered in

online gaming and the scale of the enterprises engaged in what are known as “Pogo,” for Philippine Offshore Gaming Operators.

There was concern that the surge

300,000 The number of Chinese workers in Philippine Offshore Gaming Operators (Pogo), as estimated by gaming analysts. On record, the DOLE issued only 25,000 work permits to Chinese citizens this year, leading to speculation “the rest are here on tourist visas” in the number of Chinese tourists —nearly nipping at the heels of top tourist market South Korea— actually represents thousands of Pogo workers coming in as tourists, with some analysts estimating See “Pogo workers,” A2

‘PHL-China oil deal vital to energy plan’ @BNicolasBM

A

See “Oil deal,” A2

Alberto C. Agra

ead

L AlbertoPPP C. Agra

P

UBLIC-PRIVATE Partnership (PPP) arrangements—whether for water, reclamation, power, mass transport systems and land development projects—are never intended to glorify or only serve the interests of the parties who sign the contracts.

While benefits may be drawn by the government/implementing agency (IA), the first “P,” and the private sector proponent (PSP), the second “P,” as a consequence of the partnership, the third “P,” the direct and ultimate beneficiary of any PPP project must be the fourth “P”—the people or the public good.

Continued on A11

BOI still short of ’18 target by ₧105 billion

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@butchfBM

MID fears the oil deal signed between the Philippines and China would be disadvantageous to the former, Senate President Pro Tempore Ralph G. Recto on Sunday said it is, in fact, “off to good start” given the “positive reviews” given by two eminent persons on the memorandum of understanding crafted by Foreign Affairs Secretary Teodoro L. Locsin Jr. Recto cited the joint statement made by Acting Chief Justice Antonio T. Carpio and former Foreign Affairs Secretary Albert F. del Rosario, that Philippine interests are “safe” and that “nothing is being given away” by the Philippines in its oil exploration agreement with China.

‘Responsive-ility’ and responsibility

@alyasjah

& Bernadette D. Nicolas

PART of the Malampaya Deep Water Gas to Power facility in Palawan is seen in this file photo from www.shell.com. At the weekend, Senate President Pro Tempore Ralph G. Recto drew attention to the dwindling reserves at Malampaya, adding that an energy cooperation agreement with China that does not reduce the Philippines’s sovereignty is crucial to efforts to find alternative sources, given Malampaya’s huge share in the energy mix.

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By Elijah Felice E. Rosales

By Butch Fernandez

2017 EJAP JOURNALISM AWARDS

HE Board of Investments (BOI) is now P105 billion short of its annual target, but it hopes to hit its objective with expected registrations of big-ticket manufacturing projects.

In a recent interview with reporters, Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo Jr. revealed that investments registered with the agency stood at P575 billion as of mid-November, or P105 billion short of its P680-billion target for the year.

“As of [last week, the BOI hit] P575 billion. We are still short of P100 billion,” Rodolfo said. A tall order as it may seem, Rodolfo is optimistic the BOI can pull all the stops to hit its objective this year. He said significant investments in manufacturing and tourism are expected to come in before the year ends.

“There is the construction-related manufacturing. It will create cement and steel to meet the domestic demand. There is also the tourism-related [investment] that is quite big. Hopefully, an infrastructure project also registers,” Rodolfo said.

However, he admitted that time is not on the BOI’s side, as the deadline for the

publication notice on fresh projects ends on December 15.

Investment pledges to the BOI last year breached an all-time high of P617 billion.

The agency seeks to obtain P680 billion in commitments this year on the back of economic reforms, such as the passage of the ease of doing business (EODB) law.

Foreign direct investments (FDI ) from January to October expanded 156 percent to P39.3 billion, from P15 billion in the same period last year. Indonesia is the top FDI origin with P6.4 billion, followed

by Malaysia with P2.9 billion and Japan with P2.8 billion.

Australia (P1.1 billion), China (P1.1 billion) and the United States (P612 million) are also listed among the country’s main sources of FDI. They were followed by Italy with P485.7 million, Singapore with P404.1 million and Switzerland with P357.7 million.

The BOI is hoping the impending issuance of the EODB law’s implementing rules and regulations will improve the country’s investment portfolio. Likewise, it is spearheading various investments promotion and policy initiatives, including the crafting of the Strategic Investments Priorities Plan, which lists industries the government will give special treatment once tax incentives are rationalized.

n JAPAN 0.4628 n UK 67.3380 n HK 6.6762 n CHINA 7.5421 n SINGAPORE 38.0861 n AUSTRALIA 37.9008 n EU 59.6376 n SAUDI ARABIA 13.9350

Source: BSP (23 November 2018 )

News

BusinessMirror

A2 Monday, November 26, 2018

Customs, BIR complete fuel marking IRR to stop smuggling

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By Rea Cu

The fuel marking will be imposed on all petroleum products that are refined, manufactured, or imported into the Philippines, which are subject to the payment of duties and taxes, such as but not limited to gasoline, denatured alcohol used for motive power, kerosene and diesel fuel oil.

The system will also monitor all locally refined finished oil products to ensure correct payment of corresponding excise and value-added taxes (VAT).

In terms of cigarette-making machines entering the country, Guerrero was said to be making a request to Chinese officials in line with not allowing the exportation of cigarette-making machines from China without proper and complete documentation.

Last month the Department of Budget and Management (DBM) reported that the government is looking to implement the fuel marking system starting 2019, after it awarded the bidder for the project late in October.

It was reported that only the joint venture between Sicpa SA and

SGS Philippines Inc. will bid, with Authentix Inc. expressing regret that it can no longer participate in the bidding for the project.

Earlier in the month, Dominguez expressed confidence that the new Customs commissioner can fulfill the President’s wish to rid the country’s second-largest revenue collector of corruption.

Dominguez told reporters that he is confident that Guerrero can rid the bureau of corruption, strengthen trade facilitation, as well as collect the necessary revenues needed for the government’s various projects and programs.

Meanwhile, the BOC also reported that it will be sending anew rice donations to the Department of Social Welfare and Development (DSWD) following the interception at the Port of Zamboanga of some 30,090 bags of undocumented rice in Zamboanga City.

The BOC had previously donated thousands of bags of rice and other goods to help in the government’s anti-poverty and disaster relief operations, especially for the victims of Typhoon Ompong.

MEANWHILE, from self-exile in the Netherlands, Communist Party of the Philippines founder Jose Maria Sison advanced a different view. He said the Philippines must reject immediately the signed agreement on cooperation on oil and gas development in the West Philippine Sea with China before it causes further damage to the country’s sovereignty.

Sison said that even though what was signed was just an “agreement to agree”, it does

not take away the fact that damage has already been done by the Duterte administration to the sovereign rights and national patrimony of the Filipino people.

The communist leader said it is clear from the signed MOU on Cooperation on Oil and Gas Development between the Philippines and China that the Philippines “keeps silent, ignores and sets aside” the arbitral ruling that handed down the country’s victory in the West Philippine Sea. “In principle and in practical terms, the memorandum at least puts China at par with the Philippines, despite the fact that the Philippines has indisputably, according to international law and final court judgment, the sovereign rights and sole ownership of and authority over the oil, gas and other resources in any possible“relevant area” or “working area” in the West Philippine Sea,” he said in a Facebook post late Saturday.

“By citing the memorandum, China can now insist ad nauseam and by force that the Philippine government has waste-basketed the final judgment that the mineral and marine resources under the West Philippine Sea belong to the Philippines,” he added.

Moreover, Sison warned that inaction from the Filipino people may lead the President to commit more of what he called treasonous acts.

“To overcome the damage and counter the act of treason, the Philippines and the Filipino people must act immediately to nullify and waste basket the memorandum. Otherwise the traitor Duterte and his subalterns will commit more crimes of treason under the rule of confidentiality agreed upon in the memorandum.”

To counter the “damage”, Sison said the Philippines should promptly muster its own patriotic Filipino experts and to hire the needed foreign oil and gas development company, that accepts Philippine sovereign rights and ownership over the resources.

This company should also be superior to China in undersea oil and gas exploration and development, and carries the protection of its country and the international community of nations, Sison said. It must also be independent of US and China.

Sison also warned that what was agreed upon in the memorandum may be intertwined with the legal and political provisions in contracts that require economic and trade and loan agreements to be governed by and construed in accordance with Chinese laws.

Any dispute with the Philippines on the terms of the contract will also have to be settled through the arbitration of the China International Economic and Trade Arbitration Commission. “These provisions overrule any Philippine silence or equivocation about Philippine sovereign rights in the West Philippine Sea,” he said.

Under the MOU signed last week, Foreign Affairs Secretary Teodoro L. Locsin Jr., each working group will look into a possible exploration deal between the Philippines and China. Each group shall consist of representatives from enterprises authorized by two governments.

The China National Offshore Oil Corp. and the Philippine National Oil Co. will also be involved.

The two governments are hoping to have cooperation arrangements within 12 months of the memorandum of agreements.

“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, during his interview with CNN Philippines’s The Source.

Also, the MOU says “ it “does not create rights or obligations under international or domestic law.”

from the town’s surrounding waters, unclogging of canals and residents sweeping their yards.

The week before that, Barrascoso posted a photo of the municipal government’s new dump truck.

Coron and another tourist destination, El Nido, have come under intense scrutiny of the BIATF chaired by Environment Secretary Roy A. Cimatu, after reports of unsanitary conditions and environmental violations in both towns were brought to its attention. President Duterte has assigned the BIATF the additional task of determining the carrying capacities of island destinations and checking these for environmental stresses.

According to the DENR, there is no central sewerage facility in Coron, which means most of its households and tourist accommodations flush their effluents straight to the sea. The agency also determined coliform bacteria exceeding normal standards in the waters of Coron.

Cimatu, along with Tourism chief Bernadette Fatima Romulo Puyat and Interior Secretary Eduardo M. Año, will go on an inspection tour of El Nido on Wednesday.

A day before that, they will be in Bohol for the inauguration of the Panglao Island International Airport, after which they will check on the reported pollution of the popular Alona Beach.

T he BI AT F st ressed, however, that only noncompliant resorts w ill be shut dow n, and not the entire tow ns even if found w ith env ironmenta l and easements problems.

Data from the DOT showed 31 accredited tourism accommodations in Coron, with 13 tourist inns accounting for the largest number. Among the hotel and resort brands accredited as of September 2018 are Club Paradise on Dimakya Island of the Discovery Leisure Group, and Two Seasons Bayside Hotel in Coron town, owned by the Two Seasons Resort Group.

@ReaCuBM

HE Bureau of Customs (BOC) has reported that the master plan for the implementation of the fuel marking system in 2019 will be submitted by the end of November, and that it has already drafted the implementing rules and regulations (IRR) together with the Bureau of Internal Revenue (BIR).

The fuel marking system has been cited as crucial in the drive against smuggling of oil in the country, with the bureau being the lead agency to implement the scheme. The fuel marking system is also seen to plug revenue losses from the smuggling of the product.

Finance Secretary Carlos G. Dominguez III earlier instructed Customs Commissioner Rey Leonardo B. Guerrero to beef up the drive

Oil deal. . .

Continued from A1

Carpio and del Rosario have been among the most consistent critics of China’s aggressive stance in the South China Sea, but have also acknowledged there is wisdom in engaging China in a possible joint exploration of oil and gas resources, for as long as this is constitutionally compliant.

“This seal of a good agreement from two eminent experts bodes well for the eventual forging of a constitutionally compliant venture that is economically beneficial to us,”Recto said in a statement on Sunday.

“Because the memorandum that was signed respected our sovereignty, then the joint venture started off on the right foot, and not with the foot of one party pressed on the back of the other. It showed the way forward,” Recto added.

Energy challenge

AT the same time, Recto underscored the importance of the MOU that was signed by Locsin and China’s Foreign Secretary Wang Yi during Tuesday’s visit to Manila of President Xi Jinping.

“There is an urgency in our search for energy independence. The Malampaya field off Palawan could run out of natural gas by 2024. This specter of energy starvation is what should drive the renewed hunt for new gas and oil fields within our seas,” noted Recto.

Malampaya supplies 40 percent to 50 percent of the energy needs of Luzon, “the world’s fourth most populous island where 58 million live,” the senator added.

“Malampaya fuels five baseload plants in Batangas with a capacity of 3,211 megawatts.

If the plants’fuel source go dry, then substitutes will have to be imported, until we hopefully

Coron. . .

Continued from A12

achieve the target of 200,000 cruise passengers by the end of 2018.”

Clean up

AS this developed, Coron Mayor Ajerico Barrascoso recently took to social media to plead with his constituents to clean up their town so it doesn’t suffer the same fate as Boracay Island, which was shuttered from April 26 to October 26.

In a post on his Facebook page, Barrascoso said in Filipino: “Let’s all work together to properly dispose of our garbage, so Coron won’t be closed. Clean your front. Let’s fulfill our responsibilities as Coronians. There is only one Coron, so we should take care of it.”

On November 17 the local government conducted a municipalwide cleanup involving all residents. On the mayor’s page were photos of trash being fished out

against oil smuggling and cigarettemaking machines.

The BOC said it has drafted the IRR for the fuel marking program alongside the BIR, while the jointventure of Switzerland-based Sicpa SA and SGS Philippines, the winning bidder for the fuel marking system, will have to submit the master plan in 30 days from the signing of the contract on October 30. strike gas in a territory believed to contain large deposits of it,” said Recto.

“The West Philippine Sea is our fuel and fish depot. It is our principal source of protein and power. However, we cannot deny the cruel reality that our country is facing a huge barrier, or a great wall, in accessing these,” the senator added.

He said the step taken by the Duterte administration—of having an MOU signed at least as a clear framework for any energy cooperation agreement in the near future—is a right move. Contrary to insinuations that the MOU signed in the presence of Xi and Duterte was a Chinese-initiated draft, DFA’s Locsin said on Thursday it was he who had drafted it, and it was accepted by the Chinese side.

Locsin, a former legislator and journalistlawyer with a master of laws from Harvard, said the MOU laid down clear limits on parties—the Philippine constitution, the UN Convention on the Law of the Sea, and is without prejudice to Manila’s asserting whatever legal rights may ensure from its 2016 victory in the Permanent Court of Arbitration in the Hague.

Recto summed up the pragmatic balancing act of Manila thus: “It is not easy to walk on this tightrope, of cooperating with another nation and contesting some of its actions at the same time. We are caught between a dark future and a powerful force.”

Joma: Reject MOU

Marina. . .

Continued from A12

He also highlighted the Philippine maritime safety enhancement initiative and the establishment of the Maritime Information Management and Technology Center.

In the same statement, Marina reported that Lim “commended” the Philippine regulatory body in coming up with the development program and “expressed optimism on the future of the Philippine maritime industry.”

Vingson, likewise, met with European Commission (EC) representatives to update them on the countr y ’s “continuing compliance with the noted areas of improvement in the assessment report of the EC relating to the country’s implementation of the International Convention on Standards of Training, Certification and Watchkeeping for seafarers 1978, as amended.”

The Philippines is home to over 800,000 seafarers, roughly half of whom are deployed overseas.

They transmit about $5.8 billion in remittances annually.

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George S.K. Ty a top banker, but most admired for helping education, nation-building

By Claudeth Mocon-Ciriaco Correspondent

H

E may have been known best as one of the country’s leading bankers, but among those with the finest memories of Dr. George S. K. Ty are those who benefited from decades of his philanthropy, especially in education.

The Department of Education (DepEd) said on Sunday that it will be “always grateful” to Ty, Metrobank and Metrobank Foundation Inc. founder who passed away on Friday (November 23) at the age of 86.

“The DepEd will always be grateful to Dr. Ty for his lifelong commitment to the advancement of education, culture and arts in the Philippines through various programs and initiatives spearheaded by Metrobank Foundation—one of the country’s most dynamic corporate philanthropic organizations,” the DepEd said in a statement as its extended sincerest condolences to the family and friends of Ty. The DepEd noted among the significant contributions of Ty the Metrobank Foundation’s Outstanding Filipinos awards series that recognizes the best soldiers, teachers, policemen and journalists, among others; the Metrobank-MTAP-DepEd Math Challenge that has inspired thousands of Math teachers and students to excel and the National Teachers’ Month celebration.

“As an award-giving body, Metrobank Foundation blazed the trail in giving due recognition to exemplary men and women—teachers, soldiers, and policemen. Now, there are more and more civic organizations and government agencies following the Foundation’s footsteps,” the DepEd added.

The life and works of Dr. Ty, the DepEd said, reflect his “genuine desire and noble goal to contribute to societal development and nation-building.”

Pogo workers. . .

the reported number is just a tenth of the actual workers in this line of work.

The DOLE, together with other agencies, will form a special task force to check on the operations of Pogo enterprises, to start operations in December or January at the latest, according to Bureau of Local Employment (BLE) Director Dominique Tutay.

She said the majority of the Chinese with work permits are employed in Pogo.

“We are now drafting the letters to the other government agencies to send their representatives to the task force” on Pogo, Tutay said.

The DOLE official revealed the options being considered after the DOLE’s attention was drawn to the failure of contractors at the Chinese-funded Intramuros-Binondo bridge in Manila to secure work permits for over three dozen Chinese workers.

The private contractor has since started securing the necessary permits for the foreign workers in the project.

The DOLE has said it will give the enough time to the contractor to get the necessary Alien Employment Permit (AEP) for its 36 to 39 Chinese experts working on the project. The DOLE-issued AEP allows foreigners to work in the country for more than three months.

Earlier, the DOLE called the attention of the Department of Public Works and Highways (DPWH) after it was reported the Chinese workers have no AEP.

Illegal activities?

ACCORDING to Tutay, the government will tighten its rules in the issuance of work permit for foreign nationals, including Chinese workers following reports that some of the permits given to foreign nationals were being used

“His legacy will live on as every year, outstanding Filipinos will remind us that where there is service beyond excellence, there is joy and there is a future for our learners,” the DepEd said.

Founded Metrobank TY established Metrobank in 1962, and has been de facto chairman emeritus as early as 2008 as his sons Arthur and Alfred headed the many companies in the group in his stead.

He was known to grow Metrobank as one of the top banks in the country and expanded its reach internationally.

He went beyond banking and transformed the Bank to a diverse business conglomerate with successful joint ventures—with the Toyota Motor Corp., AXA insurance, Orix Metro Leasing to name a few.

The Metrobank Group counts as its members 18 domestic subsidiaries, partners and affiliates in various industries and 32 foreign branches, subsidiaries and representative offices.

Memorial services started on Sunday, November 25, 2018, at the Heritage Park, Taguig City.

In lieu of flowers, the family asked that donations be made to the Philippine National Red Cross, CBCP Caritas Filipinas Foundation and Philippine Disaster Resilience Foundation, to honor his spirit of generosity and memory.

Continued from A1

for prostitution, pornography and illegal recruitment.

She said the agency’s regional office has already been ordered to check on a construction company allegedly employing a thousand Chinese workers.

“An order has been sent out to check the infor mation we received that about a thousand Chinese nationals are currently employed as construction workers,” Tutay said.

Tutay said the information they received showed that the C h inese nat iona ls a re working as welders and performing other jobs that can be done by local workers.

“Obviously, these workers are being hidden because they are fetched from an area and brought to the worksite. They are said to be using Chinese technology that is not approved by our standards so there is also a threat on the safety,” Tutay said.

From January to September 2018, Chinese tourists had arrived in droves, pushing the total foreign arrivals from January to September 2018 to 5.36 million, up 8.32 percent from the same period last year.

Data from the Department of Tourism showed arrivals from China e x panded by some 35 percent to 972,550 in the ninemonth period this year, accounting for 18.14 percent of the total tourist arrivals market. This puts China firmly in second place in the top source markets for tourists of the country.

Gaming ana lysts est imate Chinese workers in Pogo at some 300,000, and yet the Department of Labor and Employment has said it issued only 25,000 work permits to Chinese citizens this year. “This can only mean the rest are here on tourist visas,” said one analyst. With a report from Ma. Stella F. Arnaldo

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Economy BusinessMirror

Lacson: House version of 2019 budget to undergo close scrutiny

By Butch Fernandez @butchfBM

S

EN. Panfilo M. Lacson Sr. vowed to closely scrutinize the 2019 budget when it is submitted to the upper chamber by the House of Representatives early this week after he discovered the purported “pork barrel” funds for congressmen tucked in the annual money measure.

In an interview on Sunday, Lacson disclosed he was provided an initial copy of the “juggled” allocations in the proposed budget that were touched and transferred to lawmakers’ pork barrel funds. “Meron na akong initial copy ng pinanggagagalaw nila na talagang may pork.”

The senator added: “Maski sabihin nilang walang pork barrel malinaw na talagang may pork [Even if they say there is no pork barrel, it is clear that there is pork].”

Lacson said this is because “the initial information subject to validation is that all congressmen were allotted P60 million.”

“All congressmen were allotted P60 million each. They fought over the P51 billion and what was retained to the DPWH [Department of Public Works and Highways] is P30 billion to P31 billion. I think a P4billion fund was tapped so congressmen would get P60 million,” he said in Filipino.

Lacson admitted, however, he could not say for sure if other congressmen were not included among the recipients of the P60-million pork barrel said to be alloted to each House member, but no one stood up to question it when the money measure was approved by the House in plenary.

“I’m not sure if some congressmen were excluded. But it appears that all

congressmen would get pork barrel because nobody questioned the bill on the floor when the measure was approved on the second reading and third reading. So, I suppose, everybody is happy,” he said in Filipino.

Lacson said the money measure still has to pass in the Senate, where it would be subjected to further scrutiny.

Asked where the P60-million pork barrel intended for each House member was drawn, Lacson said: “They have P51 billion, that’s another P4 plus billion, where it was drawn.”

Lacson said the senators are expected to conduct further scrutiny to track down the pork barrel insertions.

“We will have to comb through the measure first. And of course, what I got was just initial information. Once the GAB [General Appropriations Bill] reaches the Senate, we will be able to validate if there are pork barrel funds for congressmen,” he said in Filipino.

Voting 196-8, members of the lower chamber endorsed for Senate approval House Bill 8169, or the Fiscal Year 2019 General Appropriations Bill on November 21.

Majority Leader Rolando G. Andaya Jr., in a news conference, assured the public the 2019 budget is “pork barrel-free.”

“Everything we are doing here is compliant with all the pertinent laws and the Supreme Court decision [on the Priority Development Assistance Fund],” he said.

House Committee on Appropriations Vice Chairman Maria Carmen Zamora said the P3.757-trillion budget is the first annual cash-based budget of the Philippine government.

Editor: Vittorio V. Vitug • Monday, November 26, 2018 A3

Lopez seeks 15-year extension of GIE perks in ‘Trabaho’ bill

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By Elijah Felice E. Rosales

@alyasjah

HE Department of Trade and Industry (DTI) is urging lawmakers to give economic zone (ecozone) locators 15 years to transition to the fiscal regime proposed under the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill.

In a speech at the Manufacturing Summit 2018 in Pasay City last week, Trade Secretary Ramon M. Lopez said the DTI has proposed to the Department of Finance (DOF) changes in the Trabaho bill. This includes extending the transition period to 15 years from five years for those availing the gross income earned (GIE).

Ecozone locators pay the 5-percent GIE in lieu of local and national taxes.

Under the Trabaho bill, they are bound to lose this incentive in five years, or until 2024, if the measure is enacted into law before the year ends.

Lopez wants an “extension of the GIE transition period from five to 10 years, and 15, if possible.” He said this is to provide performing firms sufficient time to adjust to the tax regime under the Trabaho bill.

“What we are saying is that if [one of

the criteria in giving out incentives is] performance-based, let’s try to extend or give it [longer transition period]. If you are 100 percent for exports, you employ, [you bring in] new investments, it is performance-based and, therefore, you deserve an extension of lower tax rates,” Lopez explained on the sidelines.

The DTI is appealing to allow firms in economic zones to continue utilizing the GIE based on performance, or permit them to do so at a higher rate, according to Lopez.

Semiconductor exporters last Thursday put forward their appeal to increase the GIE rate to 7 percent, as long as the government retains the tax perk. This was similarly proposed by Philippine Economic Zone Authority Director General Charito B. Plaza, as well as her predecessor Lilia B. de Lima.

The DTI is also seeking to provide reduced

“What we are saying is that if [one of the criteria in giving out incentives is] performance-based, let’s try to extend or give it [longer transition period].

If you are 100 percent for exports, you employ, [you bring in] new investments, it is performance-based and, therefore, you deserve an extension of lower tax rates.”–Lopez

corporate income tax (CIT) based on performance to “footloose industries.” “Footloose industries” are economic activities that rely heavily on low labor cost or does not require high technology, but are needed as part of the supply and value chains and whose operations are sensitive to any cost increases.

The trade chief added the DTI is pushing for the inclusion of 100- percent additional deduction on the costs of participation in international trade fairs. Moreover, it wants the one-stop-shop mechanism to stay for economic and free port zones by providing the local government allocation during the CIT period.

The Trabaho bill will gradually reduce CIT down to 20 percent in 2029 from 30 percent, and overhaul incentives granted to investors. The measure is currently being deliberated in the Senate.

The Nation

A4 Monday, November 26, 2018 • Editor: Vittorio V. Vitug

BusinessMirror

Fintech venture helps Ceza address deficit, pay taxes

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By Elijah Felice E. Rosales

@alyasjah

HE venture into financial technology (fintech) is proving to be a right move for the Cagayan Economic Zone Authority (Ceza), as it was able to turn around its deficit from last year and pay its taxes of P83 million after three quarters.

Ceza Administrator and CEO Raul L. Lambino said on Friday that his agency has paid a sum of P83.31 million to the Bureau of Internal Revenue for its January to September taxes. This, he added, was “a huge turnaround for the agency that went into deficit in 2017.”

The Ceza incurred a net loss of P64.92 million last year after surrendering its major revenue stream from online gaming. Under Lambino, the agency ventured into attracting fintech firms to operate in its economic zone.

“The idea of setting up the first

cryptocurrency and blockchain technology center in the country has paid off handsomely,” Lambino said. “Financial technology is proving to be the new high tech of the future.”

Ceza’s revenue stands at P521.01 million after three quarters. This represents a 132-percent increase from its total revenue last year of P224.54 million.

Further, Lambino reiterated the Ceza will not rely on fintech firms alone to oil its revenue stream, as it expands its offering to industrial and tourism investments.

“Growth in the economic zone will be investment-driven. [The] Ceza will diversify,” the Ceza chief said.

The Ceza has entered into a memorandum of understanding with the Shanghai Jucheng Supply Chain Management Group for the construction of a seaside integrat-

ed resort in Northern Luzon akin to South Korea’s tourism jewel, Jeju Island. The firm will invest $100 million over the next years to develop the tourist destination.

The Ceza also signed a $1-billion project with Eminova Asset Management Ltd. and Hunan Goke Maglev Technology Development Ltd. for the establishment of a manufacturing facility for magnetic levitation, or maglev, trains in Santa Ana, Cagayan.

These trains are considered the world’s fastest.

In addition, Lambino said a large foreign firm is planning to build an integrated resort around the economic zone, while a top apparel brand is scouting for a site to set up its factory. The diversified investments, he estimated, could generate more than 50,000 jobs in the next five years.

Military has yet to firm up plans for Memorandum 32

By Rene Acosta @reneacostaBM

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CLAUS’S OPENS

An unindentified customer checks assorted Christmas décors for home and office displays being sold at the House of Santa Claus store at A.H. Lacson Street in Manila. The Philippines is credited with having the longest Christmas celebration, where carols are heard over the radio beginning September. ROY DOMINGO

Post Office building declared PHL’s important cultural asset

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HE cultural, artistic and historical significance of the historic Post Office building has been officially recognized by the National Museum with the public declaration of the iconic building as an Important Cultural Property (ICP).

The National Museum is mandated to declare cultural properties of the Philippines as either Important Cultural Properties or National Cultural Treasures, pursuant to several laws, including Republic Act 4846 (Cultural Properties Preservation and Protection Act) as amended

by Presidential Decree 374, PD 260, Republic Act 8492 (National Museum Act of 1998) and, most recently, RA 10066 (National Cultural Heritage Act of 2009).

An ICP is a cultural asset that possesses “exceptional cultural, artistic and/or historical significance.”

Postmaster General Joel L. Otarra said the Philippine Postal System has a remarkable history. It was first estab-

lished in Manila in 1767. The first known location of the Manila Post Office was on Escolta, next to the Estero de la Reina near Santa Cruz church.

During the American occupation, the Post Office building was built in the 1926 as a modern colonial architecture, an example of a perfect neoclassical monument built and designed by Filipino Architect Juan Arellano and Tomas Mapua in the heart of Manila. The building was rebuilt after World War II. The Post Office building has maintained its formidable and beautiful edifice.

The Philippine Postal Corp. (PHLPost) has also unveiled the Museum Ceremonial Groundbreaking Marker to officially start the construction and retrofitting of the Philippine Postal and Philatelic Museum in partnership with the National Commission for Culture and the Arts (NCCA).

PHLPost aims to inspire Filipinos to protect, preserve and promote these exceptional and outstanding cultural properties by establishing a Museum that will hold nationally important historical archive of stamps and museum collections, providing visual, physical and written records of 250 years of postal heritage in the country.

The Philippine Postal Service is celebrating its 251st founding Anniversary and the National Stamp Collecting Month this month.

HE military has yet to come up with a firm plan on how it will implement President Duterte’s order to reinforce efforts in key selected provinces and regions in order to suppress violence and terrorism.

According to the military’s spokesman, Brig. Gen. Edgard A. Arevalo, top officials of the Armed Forces of the Philippines (AFP) want to defer “further comments on that issuance” until meeting with Department of National Defense officials, and the latter with the officials of the Department of the Interior and Local Government to discuss Memorandum Order 32 “and to hammer down the details on how we will operationalize its provisions on the ground.”

Memorandum 32 mandated the deployment of additional military and Philippine National Police personnel to implement measures in the Visayas and Southern Luzon.

The President’s order specifically mentioned Negros and Samar provinces and Bicol region—areas where the New People’s Army (NPA) strongly operates, according to the AFP—where additional government troops would be deployed.

“Suffice it to say that we support the intent of [Memorandum 32], as it envisions to suppress lawless violence and acts of terror and to prevent such violence from spreading and escalating in other parts of the country,” Arevalo said.

Defense Secretary Delfin N. Lorenzana said the NPA only has a membership of about 5,000, and the government is expecting to defeat the group within the next three years or until the end of Duterte’s term.

However, leaders of Asia’s longest revolutionary movement called such rosy prediction as “baloney.”

Arevalo said they fully support Memorandum 32, since it augurs with the mission of the military.

“We support [its] intent primarily because to protect the people and secure the state is the AFP’s constitutional mandate,” he added.

Lorenzana said other than quelling the activities of the rebels, Duterte’s order should also ensure peaceful elections in Bicol region and in the identified provinces where, according to him, the NPA demands election fees from politicians, including permits to campaign.

Some groups said Memorandum 32 could be a prelude to the declaration of a martial law, which is currently in effect in Mindanao.

Lorenzana dismissed such criticism.

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ECCP urges cooperation to end permitting, licensing problems

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—Officials of the European Chamber of Commerce of the Philippines (ECCP) based here said local governments and renewable-energy businesses must work together to reduce the number of regulatory licensing and permitting requirements to make RE competitive.

“Responsibility does not rest solely on local governments in looking into the ease of doing business for the renewable-energy sector.

The energy companies have their own role and responsibility to do, as well,” Antonio Peralta, chairman of the Southern Mindanao Business Council of the ECCP, said.

Peralta told reporters at the sidelines of the ECCP’s “Energy Smart Mindanao 2018” that RE sources are “undoubtedly becoming acceptable and popular.” But the traditional regulatory role of both the national government agencies and local governments has also dampened the interest of companies to engage in its production, he said on Thursday.

Peralta drew out the responses of government and industry leaders on how not stymie the national interest on tapping renewable energy as an alternative energy source in the escalating damaging effect of climatic changes.

In Mindanao, for instance, the Mindanao Development Authority has expressed its preference to achieve a balance mix of tapping coal and diesel to run power plants with the production of biomass, solar, wind and other sources of energy as water was likely to diminish its reliability in the long run.

However, companies have also been discouraged by government licensing and permitting requirements that may involve as many as 22 signatures, according to Jose Rafael R. Mendoza, general manager of AboitizPower Distributed Energy.

Mendoza was earlier explaining to a representative of the Association of Mindanao Rural Electric Coopoeratives the possibility of connecting the ailing electricity supply situation in the island provinces of Mindanao with RE sources.

He said the RE sources may either come from mainland Mindanao or developed within the island. But government regulatory requirements must be worked out by the local governments if it wanted multiple sources of electricity to come handily, Mendoza added.

Peralta said, however, local governments “must also be conscious and aware that 22 signatures are a lot to reckon with.”

“There must be a national consciousness not to take as lip service or take for granted the law on the ease of doing business. It must be put to heart and be in actual local policies or ordinance,” he said.

“Companies must also sit down and talk with local governments and articulate their position and suggestion too. They should make their situation felt by the local governments,” Peralta added.

In Mindanao, meanwhile, Nilo Geroche of the Department of Energy’s Mindanao field office said some 450 megawatts of coal and diesel sources were added to the Mindanao grid between January 2017 up to this time. However, only 3 MW from hydroelectric source were added and another 15 MW were generated from other RE sources, mainly from biomass said, Geroche, chief of the energy industry management division of the DOE’s Mindanao field office.

He added that energy supply has already achieved a stable level, a far cry from the periodic and recurring long brownouts in the last two decades. He warned though, that the stable supply would be only as far as three years as growth in demand was expected to shoot up with the spike in the trend of new factories and industries being put up in Mindanao.

DENR to put up more checkpoints in North

By Jonathan L. Mayuga @jonlmayuga

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HE Depa r t ment of Env ironment and Natura l Resources (DENR) Ilocos, Cagayan Valley and Cordillera Administrative Region (C AR) will strengthen the protection of the environment and natural resources in these areas and will monitor movements of forest products, including wildlife and other mineral products.

Officials of the DENR from these areas recently held an interregional convergence meeting in Baguio City to “unify and streamline efforts and resources toward stronger protection of the environment and natural resources.”

During the meeting, the respective regional executive director (RED) of Ilocos, Cagayan Valley and CAR agreed that the monitoring checkpoints for forest products in Santa Praxedes, Cagayan; Bangui, Ilocos Norte; and Luna, Apayao, will also be utilized to regulate the transport of wildlife and mineral products.

Mobile checkpoints will also be established in strategic places to intensify monitoring of forest products, wildlife and mineral resources, according to Cagayan Valley Environment Chief Gil A. Aromin.

The team leaders of the monitoring stations will closely coordinate to monitor any movement of illegal products including apprehension, Aromin said.

It was also agreed that the Pro-

vincial Environment and Natural Resources officer, or Penro, whose jurisdiction covers the monitoring station, will supervise the activities of the checkpoint and will submit a report to the concerned RED. Meanwhile, the administrative adjudication of the apprehended or seized forest products, wildlife and mineral products and transportation used, tools and equipment including the filing of complaints against the perpetrators will be conducted by the respective Community Environment and Natural Resources officer, or Cenro. The disposition thereof will be in accordance with the existing laws, rules and regulations.

The Mines and Geosciences Bureau (MGB) will assist in the apprehension and evaluation of mineral resources to be transported.

It can be recalled that on August 15, Environment Secretary Roy A. Cimatu issued DENR Administrative Order (DAO) 201818 establishing a centralized coordinative mechanism at the Regional Office of the DENR, the MGB and the Environmental Management Bureau.

Und e r t he s a id DAO, t he DENR RED, assistant regional director for technical services, the Penro and Cenros are deputized to police mining activities and enforce environmental laws, rules and regulations. They are also authorized to issue orders and to arrest violators of environmental laws.

The World BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso • Monday, November 26, 2018 A5

After Brexit, GPA nations may bar UK from $1.7-T WTO deal

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K businesses stand to lose access to a $1.7-trillion public procurement market if signatories to a World Trade Organization accord this week block Britain’s application for membership, which will lapse after it leaves the European Union in March.

On November 27, the UK will seek admission to the 46-nation Government Procurement Agreement (GPA) in Geneva. Failure to rejoin the pact could prevent UK companies from bidding on government contracts in member nations, including the $837-billion US market. Each member has the power to block admittance.

“Going through an accession does mean in theory a country—any country—can veto,” the UK Ambassador to the World Trade Organization Julian Braithwaite told lawmakers in London this month. “If we don’t get their agreement we don’t become a member of the GPA.” Half dozen nations including the US and Japan blocked a UK application last month, with some saying the British offer was based on a set of outdated and incomplete commitments. While all members want to retain access to the UK’s £67-billion ($76-billion) marketplace, they’re still willing to use the opportunity to squeeze some concessions, with some eyeing projects such as Britain’s high-speed railways or a Heathrow airport expansion.

Rejected bid

THE purpose of the GPA is to open up, in a reciprocal manner, government procurement markets to foreign competition, and help make public purchasing more transparent among the GPA’s members.

British officials argue that the UK should receive expedited approval to the accord because it’s already a GPA member by virtue of its status in the EU, and can simply replicate its current commitments without upsetting any trade partners.

But last month members rejected a separate UK bid, with some saying the application simply replicated the terms of the EU’s 2004 GPA. They said the offer didn’t take into account British agencies that have emerged

since 2004, like the Department for International Trade and the Department for Exiting the European Union.

Braithwaite said the UK has offered to accommodate American demands by revising its schedule—but only after the US agrees to let the UK rejoin the pact.

Moldova’s block

A SPOKESMAN for the office of the US Trade Representative said more information on the US position will be made available in the coming days.

Braithwaite told parliamentarians that if the US accepts Britain’s offer it would “change the dynamic quite significantly” for other opponents of the UK GPA bid—which includes Canada, Israel, Japan, Moldova, New Zealand, South Korea and Ukraine.

But the UK will have to contend with the demands of 45 other nations aside from the US. Moldova, for one, has said that it’s concerned that the UK has a “burdensome visa application process” that doesn’t allow Moldova’s citizens to partake in the same reciprocal benefits from market access in the GPA, according to an October 17 statement delivered to the GPA committee by the Moldovan delegation.

Braithwaite said that if the UK were to lose access to the accord, it might only affect about £800 million worth of annual procurement opportunities for local companies. But in Braithwaite’s comments to Parliament, he seemed sanguine that a resolution could be reached.

“They are not going to want to have a situation where their access to this valuable market is called into question,” Braithwaite said to lawmakers. “Now that doesn’t mean everything will come together magically in time,” he said. “There are risks, clearly. But there are a lot of interests towards maintaining the status quo.” Bloomberg News

Saudi prince slams CIA assessment report on Jamal Khashoggi murder

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FORMER head of Saudi intelligence cast doubt over the credibility of any Central Intelligence Agency (CIA) report that incriminates Crown Prince Mohammed bin Salman in the murder of Jamal Khashoggi.

Several news organizations including the Washington Post and New York Times have reported that the CIA concluded the crown prince ordered the columnist’s assassination in the Saudi consulate in Istanbul on October 2, contradicting Riyadh’s version that he wasn’t involved. CIA officials have high confidence in their conclusion, which is based on multiple sources of intelligence, the Post reported November 16.

“The CIA has been proved wrong before,” Prince Turki Al-Faisal, a longtime Saudi intelligence chief, said in an interview in Abu Dhabi on Saturday. “Just to mention the invasion of Iraq for example.” Assertions made before the 2003 invasion of Iraq by ex US Secretary of State Colin Powell, with former CIA Head George Tenet “sitting right behind him,” that the country’s manufac-

turing of chemical weapons was “a slamdunk conclusion” proved to be “absolutely false,” he said.

President Donald J. Trump has disputed that US intelligence officials have definitively concluded that the Saudi crown prince ordered the murder of US-based columnist Khashoggi, while continuing to tout the importance of maintaining economic ties with the kingdom.

“The CIA is not necessarily the best measure of creditable intelligence reporting or intelligence assessment,” Al Faisal said at the launch of the Beirut Institute Summit recommendations in Abu Dhabi.

Al Faisal, who was a key figure in SaudiUS ties in the 1980s as intelligence chief and also served as ambassador to London and Washington, said the relationship between the allies is facing a “big challenge.”

That’s even compared with earlier difficult periods, such as the widespread “vilification of Saudi Arabia” in the aftermath of the September 11, 2001, terror attacks on the US, he said. Bloomberg News

EU set to endorse Brexit deal but hard work still lies ahead B

RUSSELS—In a bittersweet landmark, European Union leaders gathered on Sunday to seal an agreement on Britain’s departure next year—the first time a member-country will have left the 28-nation bloc.

At a summit in Brussels, the leaders were due to endorse a withdrawal agreement that would settle Britain’s divorce bill, protect the rights of UK and EU citizens hit by Brexit and keep the Irish border open. They will also rubber-stamp a 26-page document laying out their aims for future relations after Britain leaves at midnight Brussels time on March 29.

EU chief negotiator Michel Barnier said now that the first phase was done, Britain and the EU needed to work for “an ambitious and unprecedented partnership.”

“Now is the time for everybody to take their responsibility—everybody,” he said.

Dutch Prime Minister Mark Rutte said the deal—the product of a year and a half of often-grueling negotiations between Britain and the EU—was regrettable, but acceptable.

“I believe that nobody is winning. We are all losing because of the UK leaving,” Rutte said. “But given that context, this is a balanced outcome with no political winners.”

The last big obstacle to a deal was overcome on Saturday, when Spain lifted its objections over the disputed British territory of Gibraltar.

The deal must still be ratified by the European Parliament, something parliament President Antonio Tajani said was likely in January.

More dauntingly for May, it also needs approval from Britain’s Parliament.

May is under intense pressure from proBrexit and pro-EU British lawmakers, with large numbers on both sides of the debate

EUROPEAN Commission President Jean-Claude Juncker, (right), shakes hands with British Prime Minister Theresa May prior to a meeting at EU headquarters in Brussels on Saturday, November 24, 2018. AP PHOTO/GEERT VANDEN WIJNGAERT

opposing the divorce deal and threatening to vote it down when it comes to the House of Commons next month. 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 insists her deal delivers on the things that matter most to pro-Brexit voters—control of budgets, immigration policy and laws—while retaining close ties to the UK’s European neighbors.

She plans to spend the next couple of weeks selling it to politicians and the British public before Parliament’s vote in December.

In a “letter to the nation” released on Sunday, May said she would be “campaigning with my heart and soul to win that vote and to deliver this Brexit deal, for the good of our United Kingdom and all of our people.”

“It will be a deal that is in our national interest—one that works for our whole country and all of our people, whether you voted ‘Leave’ or ‘Remain,’” she said.

She said Britain’s departure from the EU “must mark the point when we put aside the labels of ‘Leave’ and ‘Remain’ for good and we come together again as one people.”

“To do that we need to get on with Brexit now by getting behind this deal.” AP

Taiwan ruling party suffers major defeat in local elections

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AIPEI, Taiwan—Taiwan’s ruling party was handed a major defeat in local elections on Saturday that were seen as a referendum on the administration of the island’s independence-leaning president amid growing economic and political pressure from China.

Soon after the results came in, President Tsai Ing-wen resigned as head of the Democratic Progressive Party (DPP). She will

remain as president and her resignation will have no direct effect on the business of government, although the results bode ill for her reelection chances in two years.

Rival China said the results reflected a desire of Taiwanese for better relations with the mainland. Ma Xiaoguang, the spokesman for Beijing’s Taiwan Affairs Office, said his government will continue to treat Taiwan as part of China and

“resolutely oppose separatist elements advocating ‘Taiwan independence’ and their activities,” according to the official Xinhua news agency.

In another victory for China, voters rejected a proposal to change the name of its Olympic team to Taiwan from the current Chinese Taipei. They also approved a referendum opposing same-sex marriage in a setback to LGBT couples, though bal-

lot initiatives in Taiwan are nonbinding.

The DPP lost the mayoral election to the Nationalist party in the southern port city of Kaohsiung, where it had held power for 20 years. The Nationalists also defeated the DPP in the central city of Taichung, home to much of Taiwan’s light industry, while Ko Wen-je, the independent mayor of Taipei, the capital, narrowly won a second term. The Nationalist candidate in Taipei

has asked for a recount.

At a brief news conference at DPP headquarters late Saturday, Tsai announced she was stepping down as DPP chairman and said she had refused Premier William Lai’s resignation, saying she wanted him to continue her reform agenda.

“Today, democracy taught us a lesson,” Tsai said. “We must study and accept the higher expectations of the people.” AP

A6

Agriculture/Commodities

Monday, November 26, 2018 • Editor: Jennifer A. Ng

BusinessMirror

Neda: Expect lower rice prices in Q1 2019

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By Cai U. Ordinario

@caiordinario

ICE prices may decline toward the end of the first quarter of next year once a measure that removes the cap on imports is enacted into law, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Ernesto M. Pernia made the pronouncement after the bicameral conference committee approved the rice tariffication bill on Thursday.

The measure may be signed into law before the end of the year, but Pernia said “policy reforms have lagged effects.”

Neda Undersecretary for Planning and Policy Rosemarie G. Edillon welcomed the approval of the bill and said the P10-billion Rice Competitiveness Enhancement Fund (RCEF) will enable local farmers to compete.

“We’re happy to hear about the result of the bicam especially since Congress chose to institute sweeping reforms and not merely comply with our WTO [World Trade Organization] commitment. Within three months, we expect rice prices to go down,” Edillon said.

“The RCEF will ensure that measures to enable our local farmers to compete against farmers from other countries. [But] we need to guard

against anticompetitive practices,” she added.

Philippine Institute for Development Studies (PIDS) Senior Research Fellow Roehlano M. Briones also welcomed the “swift passage” of the bill. Briones added that the approval of the measure, coupled with the strict implementation of rules on the issuance of the sanitary and phytosanitary clearance, will cause rice prices to go down before the end of 2018.

He said, however, that the decline in prices will not be steep given the “deals that still need to be made” and the ongoing truck holiday that may affect the flow of goods in the country.

“A bigger change should be seen already by mid-2019 assuming Vietnamese 25 percent broken [rice] holds at $380 per ton, or lower,” Briones said.

Local economist Calixto V. Chikiamco told the BusinessMirror that while the passage of the rice tariffication bill is welcome, he

could not comment on the movement of prices after it is enacted into law. Chikiamco said, however, that the rice tariff measure would entice more players, like San Miguel Corp., to enter the rice market.

Society Towards Reinforcing Inherent Viability for Enrichment Foundation Inc. Founding President and Chairman Leonardo A. Gonzales said the measure’s impact on prices “may be short-run and may only be a function of the rice trade.”

The real challenge, he said, will come three to four months after the implementation of the law when farmers’ incomes will be affected, especially with the removal of the National Food Authority (NFA) as buyer.

Based on the approved version of the bill, Senate Committee on Agriculture and Food Chairman Cynthia A. Villar said the NFA’s functions will only be focused on buffer stocking. The bicameral committee version removed the licensing function of the NFA. “For as long as trade is open, the impact on domestic rice price is downward. What we will worry about is after three to four months [and] what will be the impact on farmers’ incomes. Surely this will go down with the exit of NFA as buyer,” Gonzales said.

He also expressed concern about the establishment of the RCEF as “the government does not have a good track record” when it comes to implementing financing programs.

Gonzales cited the Agricultural Competitiveness Enhancement

Fund which was “mired in controversy” due to numerous problems, such as low repayment.

“The implementation of this legislation should be anchored on a good road map for the rice sector which is not yet finalized,” he said.

IBON Foundation Inc. echoed Gonzales’s sentiments, particularly the measure’s impact on farmers’ incomes. It added that the removal of the nontariff barrier will worsen poverty.

The nonprofit organization also said the RCEF was “too little, too late” and compared unfavorably to the support given by other countries to their respective farm sectors.

IBON noted that Vietnam’s support to farmers amounts to $400 million yearly; the United States, $619 million; Thailand, $2.2 billion to $4.4 billion; India, $12 billion; Japan, $16 billion; and China, $12 billion to $37 billion.

“If the Philippines imports 2 million metric tons of palay, for instance, some 500,000 of around 2.4 million rice farmers will be adversely affected. Even the government’s own PIDS projects, a 29-percent decline in rice farmers’ incomes from a P4 decline in palay farm-gate prices when rice tariffication is implemented,” IBON said.

The group said there is no guarantee that retail rice prices will be lower in the long run with unhampered importation. “Relying on rice imports makes the country vulnerable to higher world market prices, as well as to rice production and export decisions of other countries.”

House panel to deliberate on bills hiking tobacco tax

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FTER approving the measure increasing the excise tax rates on alcohol products, the House Committee on Ways and Means will resume its deliberations on proposals to hike the excise taxes on tobacco products.

The committee, chaired by Nueva Ecija Rep. Estrellita B. Suansing, will discuss on Monday the two filed bills—House Bill 4575 and HB 6648—which seek to restructure the excise tax on tobacco products by amending the National Internal Revenue Code, as amended by Republic Act (RA)10351, or the Sin Tax Reform Law. Albay Rep. Joey Sarte Salceda’s HB 4575 and Quezon Rep. Angelina Tan’s HB 6648 are both proposing for a unitary excise tax rate of P60 for tobacco products.

Lawmakers said they proposed to increase to P60 per pack the current tax rate, from P30 as the implementation of the “sin” tax law has been proven effective in minimizing, if not totally stopping the smoking habit of Filipinos and in raising funds for public health.

Earlier, Ilocos Sur Rep. Eric D. Singson slammed moves by anti-smoking groups to pressure members of Congress into approving another round of tax increases on tobacco products. He said its passage will deliver the “coup de grace” to the dying industry that supports the livelihood of millions of Filipinos in three Luzon regions.

Singson, head of the Solid North Alliance of Northern Luzon congressmen, said lawmakers representing the organization will “strongly oppose” legislative measures that seek to increase tobacco excise tax rates.

Approval

THE House of Representatives is expected this week to vote on HB 8618, which seeks to raise the excise tax on alcohol products, after the measure was sponsored on the floor by Suansing. The bill seeks to increase the excise tax imposed on distilled spirits

by P6.60, compared to what is implemented under RA 10351.

Starting January 2019, an ad valorem rate of 22 percent including specific tax rates per proof liter of P30, P35, P40, P45, from 2019 to 2022 will be imposed on distilled spirits; and it will be increased by 7 percent annually starting 2023.

Currently, RA 10351 is imposing a P22.40 specific tax and an ad valorem tax of 20 percent on distilled spirits.

The committee also approved a shift to a unitary rate of P650 plus ad valorem of 15 percent for sparkling wines, compared to the two-tiered system under RA 10351.

It will be increased by 7 percent annually starting 2023. Jovee Marie N. Dela Cruz

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Plan to hike CME content of biodiesel on back burner

BLOOMBERG NEWS

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Department of Agriculture (DA) said it has temporarily set aside its push for an increase in the coco methyl ester (CME) content of biodiesel, as the government is more focused on easing fuel prices.

Agriculture Secretary Emmanuel F. Piñol said it would be hard to secure support for its call to hike the CME content of biodiesel to 5 percent from the current 2 percent.

“How are we going to introduce a measure that would increase the price of diesel in the face of efforts of the government to bring down the prices of diesel?” Piñol told reporters in an interview last week.

“It is a near-to-impossible request. So, rather than do it and be rejected, we would shelve the idea in the meantime,” he added.

The DA considered increasing the CME content of biodiesel to arrest the steep decline in copra prices.

However, economic managers cautioned that increasing CME content would hike pump prices.

Nonetheless, Piñol said the initiative remains as one of the longterm solutions of the government to improve copra prices. “We will not [abandon] it [as] it is a long-term measure [to help farmers].”

In early November, the Philippine Coconut Authority (PCA) board approved a resolution asking President Duterte to direct the National Biofuels Board to increase the CME content of biodiesel.

“This is expected to effectively

absorb the huge portion of copra right now in the market, which has resulted in the slump in prices,” Piñol, who chairs the PCA board, said in an earlier interview.

“With these developments, the prices of copra will go up and the local mills we have to contend with competition right now,” he added.

In a separate social-media post, Piñol said at least 12 coconut oil mills have already agreed to purchase copra directly from organized farmers’ groups. The deal was reached on November 22, when Piñol, together with DA and PCA officials, met with owners of coconut oil mills.

“Oil millers said they buy their copra supplies to produce coconut oil from middlemen and traders at the current mill gate price of P22 to P24 per kilo,” he said in a Facebook post last week.

“This is almost double the buying price of copra at farm gate which is between P8 to P12 per kilo,” he added.

Under the agreement, the DA, through the Agricultural Credit Policy Council, would provide coconut farmers groups with a working capital to purchase the produce of their members, according to Piñol.

“This will be delivered directly to the oil mills which will pay the farmers at the price the traders are getting,” he said. “The DA will also provide the farmers’ groups funds for the purchase of hauling trucks and dryers.”

Piñol said the deal would take effect before the end of the month.

3 local firms to manufacture farm equipment created by PhilMech

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HE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it has licensed three local firms to manufacture farm equipment as part of government efforts to help farmers produce more food.

PhilMech said the three local firms would be allowed to manufacture the multi-commodity solar tunnel dryer (MCSTD), manual coffee pulper (MCP) and the cassava digger (CD).

All three farm machines were developed by PhilMech, an attached agency of the Department of Agriculture (DA).

“The local metal industry has the potential to manufacture quality farm machines and equipment if given the proper support,” PhilMech Director Baldwin Jallorina said.

“The vision is for the Philippines to manufacture most of its farm machinery requirements in five to six years,” Jallorina added.

PhilMech has licensed Taguig City-based NSB Engineering Design and Fabrication and Sohrab Garcia Photography and Enterprises, based in Sorsogon City, to manufacture MCSTD. MCSTD is an enclosed dryer that

dries commodities using the heat of the sun, according to PhilMech.

“It has the advantage of protecting the commodities from harmful exposure from the air. Among the commodities the MCSTD can dry are fish, tomatoes, fruits, among others,” PhilMech added.

The agency said it has also allowed South Cotabato-based Diordan Construction to manufacture the MCP and CD. “The company, based in South Cotabato, fabricated the 6-megawatt biomass power plant of Biotech Farms, and was one of the contractors for the establishment of the 100-MW power plant of Sarangani Energy Corp.,” PhilMech said.

NSB Engineering has been in the metal fabrication industry for 17 years and manufactures jigs and fixtures for various industries and also supplies a number of components for an airline company, according to PhilMech.

The CD allows farmers to harvest cassava root crops at a rate of 1.8 to 3 hectares per day, according to PhilMech. The CD has the capability to depulp 40 kilograms to 50 kg of coffee beans per day, which is more than twice faster using the manual method, it added. Jasper Emmanuel Y. Arcalas

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Perspectives Making connections

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O deliver a distinctive, loyalty-inducing experience, customer centricity needs to be a focus for every part of the business, not just sales.

What do consumers want? That question is reverberating more loudly in boardrooms across the world than at any time since the Great Recession of 2008.

Companies in the consumer and retail sector have invested billions endeavoring to answer that question. Much time and money has been spent fleshing out such fashionable concepts as “omni-channel strategies” and “customer-journey mapping” but, if pressed, few managers could honestly say they really know what consumers want.

In some ways, it’s easier to say what shoppers don’t want. In her Issuetrak blog, Sarah Spangler identifies five things they definitely don’t like: sales staff who are rude to them (or ignore them or can’t help them); mistakes in billing them; having the wrong goods being delivered (or the right goods delivered to the wrong place or at the wrong time); confusing returns policies and a product that doesn’t do what they bought it to do. To which, you could easily add two more bugbears: long checkout queues and complicated online ordering processes, with hidden (or poorly explained) delivery charges.

These seven deadly sins have one thing in common: they degrade the quality of the customer experience—and that matters because, as Duncan Avis, Customer Solutions Leader, KPMG in the US and Global Connected Enterprise Architect, says: “In many different sectors—and in many countries— success is defined by the quality of the customer experience. How distinctive is it? How seamless is it?

How personalized is it? Does it create value for the customer—and for that matter, your company?

We call this ‘experience centricity.’” These are mission-critical questions for manufacturers and retailers as they try to survive and thrive in an industry experiencing unprecedented change.

comes today’s ‘ordinary.’ I see that cycle of improvement happening at a faster rate than ever before.

It may be because customers have such easy access to more information than ever before—in only a few seconds and with a couple of taps on their phones, customers can read reviews, compare prices from multiple retailers, see whether something’s in stock, find out how fast it will ship or be available for pick-up, and more. These examples are from retail, but I sense that the same customer empowerment phenomenon is happening broadly across everything we do at Amazon and most other industries. You cannot rest on your laurels in this world. Customers won’t have it.”

Inspired by the success of platform companies, putting the customer at the heart of the business has become a fashionable soundbite among executives, but is it really the key to improving performance?

“Many companies have doubled-down on the front line of customer interaction, investing time, money and resource in an effort to become more customer centric. Many businesses have made substantial progress but they weren’t getting the return they expected,” says Avis. To get to the bottom of the issue, KPMG International commissioned Forrester to research 1,200 organizations in different sectors and countries. The study found that only 24 percent of the companies surveyed had actually connected the entire enterprise in their effort to become customer centric.

What did this mean in practice?

Avis cites the example of data. Truly connected enterprises share data quickly and freely so that the supply chain leader has the same information as the head of sales. If that doesn’t happen, the supply chain may not be able to deliver what the sales department has promised the customer. “You have to remember how big a change this is,” he says, “we’re going from a model where you ship pallets of shoes to one where you deliver one pair of shoes to an individual customer.”

‘Divinely discontented customers’

The excerpt was taken from the publication entitled Consumer Currents. © 2018 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

IN his latest annual statement to shareholders, Amazon CEO Jeff Bezos explained why the need to please consumers is more urgent than ever: “One thing I love about customers is that they are divinely discontented. Their expectations are never static—they go up. It’s human nature. People have a voracious appetite for a better way, and yesterday’s ‘wow’ quickly be-

Crypto losses near $700 billion in worst week since bubble burst

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HE great cryptocurrency crash of 2018 is heading for its worst week yet.

Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index’s decline since November 16 to 23 percent. That’s the worst weekly slump since crypto-mania peaked in early January.

After an epic rally last year that exceeded many of history’s most notorious bubbles, cryptocurrencies have become mired in a nearly $700-billion rout that shows few signs of abating. Many of the concerns that sparked the 2018 retreat—including increased regulatory scrutiny, community infighting and exchange snafus—have only intensified this week. Even after losses exceeding 70 percent for most virtual currencies, Oanda Corp.’s Stephen Innes has yet to see strong evidence of a capitulation that would signal a market bottom.

“There’s still a lot of people in this game,” Innes, head of trading for Asia Pacific at Oanda, said by phone from Singapore. If Bitcoin “collapses, if we start to see a run down toward

$3,000, this thing is going to be a monster. People will be running for the exits.”

Innes said his base-case forecast is for Bitcoin to trade between $3,500 and $6,500 in the short term, with the potential to fall to $2,500 by January.

The largest cryptocurrency retreated as much as 7.6 percent on Friday, before paring losses to 4.1 percent at 4:43 p.m. in Hong Kong, according to Bloomberg composite pricing. At $4,244, it’s trading near the lowest level since October 2017.

Rivals Ether, XRP and Litecoin all declined at least 5 percent. The market value of all cryptocurrencies tracked

by CoinMarketCap.com sank to $138 billion, down from about $835 billion at the market peak in January.

The rout’s biggest casualties: individual investors who piled in just as prices peaked, and companies like Nvidia Corp. that supplied the crypto ecosystem. The Californiabased chipmaker has lost nearly half its value since the start of October as demand for its cryptocurrency mining chips collapsed and results in its gaming division disappointed. Bloomberg News

Monday, November 26, 2018

A7

BTr September debt service higher by 21.7% at ₧38.6B

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By Rea Cu

@ReaCuBM

HE national government has reported a P38.593billion debt payment for the month of September, with interest payments outpacing amortization, data from the Bureau of the Treasury (BTr) showed.

The government’s debt service for September represented a 21.71-percent expansion compared to the P31.707 billion recorded in the same month in 2017.

Broken down, interest payments accounted for P32.675 b i l l ion , w h i le a mor t i z at ion r e a c h e d P5. 918 b i l l i o n f o r the month.

Interest payments made in September were 23.7 percent higher

than last year’s P26.397 billion.

Meanwhile, payments posted under amortization grew 11.4 percent compared to the P5.310 billion reported in 2017.

Local interest payments made by the government come in the form of Treasury bills at P1.095 billion for the month, fixed rate Treasury bonds with P13.762 billion, and retail Treasury bonds at P8.895 billion—for a total of P23.752 billion.

PlanBank launches 67th year celebration

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LANBANK, a leading rural bank serving the provinces of Laguna, Batangas and Bulacan, launched the celebration of its 67th anniversary with a simple gathering at its head office in the City of Calamba, Laguna, last Friday (November 24).

The event was highlighted by a Thanksgiving Mass at the PlanBank building, located along the National Highway corner Chipeco Avenue, Barangay Halang, Calamba.

The first office of the bank was located in then barrio Canlubang. It then transferred its head office to the Old Municipal Site of Calamba City, and finally to its own building located at Halang, Calamba, in July 1998.

Incorporated in 1952, the bank, formerly known as the Rural Bank of Canlubang Planters Inc., has grown into a network of 15 branches serving farmers, small businessmen, market vendors and other community entrepreneurs in key places in the three Central Luzon provinces.

Its loan products include housing loan, business loan, salary loan, back-to-back loan, credit line and auto loan. It also has a unique offering of the low-interest jewelry loan where customers can get loans in exchange for their jewelry pieces as collaterals.

The bank was acquired in October 2013 by the ALC Group of Companies headed by the late Ambassador Antonio L. Cabangon Chua, whose initials gave the business group its name.

Other member-companies of the conglomerate are the Fortune Insurance Group, the Eternal Group, publicly listed Citystate Savings Bank, Citystate Properties & Management Corporation, and the Aliw Media Group that includes BusinessMirror, Pilipino Mirror, Philippines Graphic and Aliw Broadcasting Corporation.

Despite challenges in the global markets and the local banking industry, Planbank remains bullish that it will post continued growth, and vows to expand its reach in the market by opening up more branches.

PlanBank is led by D. Rufina S. Cabangon Chua, president, and former Justice Harriet Demetriou, chairman of the board of directors.

Interest payments made to offshore entities for the month amounted to P8.923 billion.

A ll amortization payments (P5.198 bi l l ion) for September went to foreign financial institutions.

9-month total: P620.5B

FROM Januar y to September 2018, debt payments made by the government amounted to a total of P620.538 billion, increasing by 6.45 percent compared to the recorded P582.904 billion during the same period for 2017.

A mor tization pay ments of P349.211 billion made by the government for the January-September period in 2018 grew by 4.5 percent compared to the P333.934 billion in 2017, while interest payments for the nine-month period this year, or P271.327 billion, also posted an expansion of 8.9 percent from the P248.970 billion recorded in 2017.

Amortization refers to the repay ment of loa n pr inc ipa l over time, while interest pay-

ment refers to a payment determined by the interest rate of an account.

The Philippine government provides a portion of its budget for the payment of debt on a monthly basis; this, in turn, forms part of its expenditures.

The BTr earlier reported that t he gover nment ’s g ross borrowings for September reached P43.979 billion, pushing government’s nine-month financing efforts to P683.284 billion.

Gross borrowings for the month of September expanded by 3.4 percent from the P42.501 billion recorded for the same month in 2017.

Broken down, borrowings from foreign entities amounted to P29.532 billion, rising by 436.8 percent compared to the P5.501 billion reported in September last year.

Domestic gross borrowings settled at P14.447 billion, contracting by 60.9 percent from the P37 billion borrowed from local entities during the same month last year.

Green Monday BusinessMirror

A8 Monday, November 26, 2018

www.businessmirror.com.ph • Editor: Lyn Resurreccion

‘Habitat’: Reforestation model brings back forests, wildlife

ous therapeutic purposes. Its use and importance as effective erosion control and bio-engineering material has never been tried before and discovered only by the Cordillera Ecological Center (CEC) after several trials at the Habitat.

Putting the model to work

Inside the “Habitat” model forest in Benguet.

By Michael A. Bengwayan

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Special to the BusinessMirror

UBLAY, Benguet—A reforestation model in this province transforms ravaged land into forests, wildlife habitat and nature school—an answer to the problem of yearly massive landslides in the country and elsewhere in other mountainous regions in Asia.

The Philippines, Nepal and China suffer hundreds of deaths and lose millions of dollars worth of properties yearly due to landslides mostly manmade like deforestation.

In this landslide-prone municipality of Benguet, in a once-eroded 5-hectare area, the model lot called the “Habitat,” showcases a pine-tree woodlot, nitrogen-fixing tree-based soil and water conservation system, a native tree and shrub buffer zone that feeds a spring to support 25 families, an Arabica coffee-pineapple agroforestry, and mixed stands of cacao, lanzones, pomelo, santol, mango, lemon and rambutan, The wildlife casually observed to have returned to the area are civet cat, fruit bats, quail, monitor lizard, several snakes, a good number of bird species, wild honey bees, butterflies and a lot more insects, including a harmless scorpion.

Perched on a mountaintop with more than 18-percent slope, it is protected by some 3,000 pine trees, and about three dozen species of native trees, shrubs, bamboo and grass species.

Description of the Habitat model

The Habitat is a modified version of the indigenous agroforestry system of the Ifugaos, called muyung or lakon, following some scientific principles in permaculture and agroforestry.

Instead of dipterocarps, pine trees are planted in the woodlot on top of the mountain. This serves to protect the whole mountain in times of heavy rain by absorbing much of the rainfall, rather than the water cascading down the slopes, normally eroding topsoil and causing landslides.

Some 3,000 pine trees, now more than 30 years old, cover the Habitat.

The trees also cushion the impact of rainfall, preventing top-soil erosion, with the tree branches, twigs and needles absorbing the torrential raindrops and letting these drop softly to

the ground. The absorbed water gets into the ground water, raising the water table which feeds the spring that supplies water all year-round.

Excess water is absorbed by the trees, each mature tree absorbing as much as 200 liters by its water roots, which the tree releases during summer to recharge brooks and springs.

Below the woodlot is a belt of native stick-like shrub called Mescanthus chinensis, called locally as rono, with deep penetrating roots.

They serve as buffer zone to prevent water that was not absorbed by the woodlot and topsoil, from eroding the lower slopes of the mountain. Rono is harvested rampantly by vegetable bean and pea growers, using it as trellis, thus, making it an endangered species under the International Union for Conservation of Nature (IUCN) Red Handbook.

Five meters below the Mescanthus chinensis buffer belt is a cross canal, or swale, dug at a depth of 1-foot to capture flowing water not stopped by the woodlot and rono line and drains to a creek. For every 10 meters of the canal is a check dam made from branches and soil trap 2-feet deep to capture soil and prevent it from being washed away.

Cross canals or swales are dug after every 20 meters of a mountain slope. As many as 20 check dams and soil traps are dug in a 1-hectare sloping land.

Below the cross canals, hedges of Flemingia macrophylla are planted to reinforce soil conservation efforts.

F. macrophylla have long, tough tenacious roots that penetrate the soil even 20 feet below, making them effective soil binders.

At the Habitat, natural gullies were staked with bamboo poles as soil traps and planted with trees. The trapped nitrogen, phosphorus and potassiumnutritious top soil accumulated and fertilized the trees allowing fast tree growth.

Some 30 meters to 40 meters from the woodlot is the agroforestry area

planted with 2,000 Arabica coffee trees shaded by nitrogen-fixing trees Callianra calothyrsus and Alnus japonica, both introduced species.

These trees fertilize the coffee by making atmospheric nitrogen available in the soil as nitrate through nitrification process performed by the Rhizoctonia bacteria found in the root nodules of the trees.

Interspersed in the Habitat are giant ferns, Ficus nota, Ficus pseudopalma, Ficus ulmifolia, Pittosporum resineferum, and wild fruits dagwey and bignay, including some wild berries and passion fruits.

Nature and forest survival school

The Habitat has served to train environmentalists and tree growers through the past years. It accommodated students and pupils, teaching them the importance and uses of trees and plants. It taught wild food, medicinal plants and forest survival practices.

It is managed by the Cordillera Ecological Center, where it trains foresters and rural development workers.

George Facsoy, who worked with the Lao PDR government ministry of forestry, honed his skills at the Habitat, so did Jose Bandiwan, an apiculturist in New Zealand.

“I first learned about bees at the Habitat, the trees and wild plants they forage on. We planted hundreds of Calliandra trees upon discovering bees love the flowers. By doing so, we prevented the death of thousands of bees because they did not have to forage nectar on vegetables laced with dangerous chemicals,” Bandiwan explained to a group of visitors at the Habitat.

He experimented successfully in the growing of native trees using asexual methods at the Habitat. “We popularized nitrogen-fixing trees at the Habitat, making use of Calliandra calothyrsus, Flemingia macrophylla and Rensonii not only because of their ability to fertilize but also because of their capability to stop erosion and landslides,” forester Facsoy told a group of forestry trainees.

“It is here where we discovered that the best to plant to prevent erosion is Flemingia macrophylla,” he bared. The plant is a woody leguminous shrub with multipurpose use for crop improvement, fodder, dye and for vari-

In 2012 the CEC was invited to put its model to work with a daunting challenge—stop the sinking and erosion of a mine-devastated community in Mankayan, Benguet, where the mining company, Lepanto Mining Corp.

Inc., is located.

Using its experience in establishing the Habitat, CEC and its partner A Tree A Day with some 200 volunteers, immediately went to work for four years.

The eroded area, about 50 hectares, was successfully rehabilitated, the sinking stopped, erosion and landslides were arrested.

Most important, a forest was established and turned over to the local high school. In 2015 the community adopted it as its communal forest and took over the responsibility in caring and protecting it.

CEC replicated its work in the eroded bald mountains in Marilog, Davao del Sur, working with Matigsalog Lumads, and in other towns in Benguet like Bokod, Tuba and Kabayan.

Every year, CEC raises thousands of trees and, with the help of volunteers, replant ravaged mountains every rainy season.

Healing and transforming forest

From its lowly purpose to showcase the relevance of trees, the Habitat is evolving as a haven for nature learners, bird watchers, people seeking healing from nature, those escaping the stress of city life and people wishing to commune with God. “I love the silence, the wild beauty of trees blending naturally with the grass, praying here removes my stress and makes me feel closer to God,” Pablo Mencio, an accountant of an Export Processing Zone Authority-based multinational firm said.

Children are frequent visitors, who sometimes come in droves. Norma Besmi, a teacher from a government school, let her pupils ran and frolic under the pine trees freely.

“These children barely have a chance to play under trees. Some, like those living in the city, have never seen a forest. We hope to come next time and camp,” she said.

However, Richard Botengan, former administrator of the Cordillera Ecological Center, frowns at the idea of opening the Habitat to the public.

“Too many people will disturb the balance,” he said. “The birds, insects and other small wildlife will be disturbed by the noise of people; the trails will harden from too much walking; and some plants, important in many ways, are trampled upon,” he quipped.

This led to the decision to open the Habitat only from November to April every year to give time to allow plants to grow wildly, insects to pollinate freely, for migratory birds to rest without being disturbed, and for nature to take its course.

A statement from a visiting sick woman summed up why some people want to see this forest: “I wanted to see the trees but I ended up seeing myself, for how can we truly see ourselves if we live apart and not a part of the trees and plants around us. I thank God for opening my eyes, we have been living apart from nature.”

These children barely have a chance to play under trees. Some, like those living in the city, have never seen a forest. We hope to come next time and camp.”—Besmi

Taiwanese tourist nabbed with 250 live corals at Naia

By Recto Mercene

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@rectomercene

irports Customs authorities last week collared a Taiwanese tourist for trying to smuggle 254 pieces of live corals to Taipei.

Customs District Collector Carmelita Talusan said the soft and hard live corals, approximately weighing 39 kilograms, was found among the passengers personal belongings inside the two pieces of luggage.

Talusan did not identify the suspect as the investigation is trying to trace the source of the corrals, believed to be local “persons of interests.”

The suspect admitted upon interrogation that he purchased the marine animals for $15,000 or about P788,000.

However, the Bureau of Fisheries and Aquatic Resources (BFAR) said the price seems undervalued “since, the live corals are still subject to verification and appraisal.”

Talusan said exportation of corals without necessary permits violates provisions of Republic Act 10863, or Customs Modernization and Tariff Act, in relation to RA 10654, or the Ban on Coral Exploitation and Exportation.

“Corral exploitation endangers the Philippine endemic species of corals or precious and semi-pre-

cious corals that exist only in the Philippine marine waters,” Talusan said. Punishment for violators is 10 years to 20 years imprisonment “and a fine and forfeiture of the subject coral.”

Investigation showed the foreigner arrived in Manila with practically empty pieces of luggage, except his passports and some cash.

The tourist was under surveillance for 15 days, Talusan said, quoting some Customs agents.

The Office for Transportation Security at the Ninoy Aquino International Airport Terminal 3 questioned the suspect about the contents of his luggage after suspicions were aroused by the x-ray images.

The passenger was later endorsed to the Customs examiners, who opened the luggage and found out the corrals that the suspect was trying to ship out to Taiwan.

“The latest expensive craze among hobbyists is not simply to take care of colorful tropical fishes in their aquarium but also to maintain a live corral colony. It requires close monitoring of the water’s purity and also adding the necessary saline solution, which is a time-consuming and expensive process,” according to a BFAR official, who asked not to be named because he is not part of the team that arrested the suspect.

Malungon reforests critical riverbank

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he municipality of Malungon, Sarangani, recently held a massive planting of bamboo seedlings along the watersides of Barangay Upper Lumabat River to help rehabilitate the critical riverbanks, which have become a source of flash flood in the town’s lowlands in recent years.

Some 5,000 bamboo seedlings were planted at a 4.2-km stretch. The activity was participated in by municipal officials and employees, local police, civil-society groups, people’s organizations and local townsfolk.

The Malungon municipal government also signed a memorandum of agreement with the Barangay Upper Lumabat, barangay council for the bamboo-growing project, which will also be a potential income-generating project.

According to Mayor Maria Theresa Constantino, who led the activity, it was part of

the municipality’s environmental protection program for sustainable development.

A landlocked town in Northeastern Sarangani, it was awarded last year for being the Best Municipal Disaster Risk Reduction and Management Council during the Gawad Kalasag Awards of the Provincial Disaster Risk Reduction and Management Council.

The bamboo reforestation was part of the 11th Slang Festival, which showcased the way of life of the Blaan and Tagakaulo indigenous people through dance, music and sporting events.

A first-class municipality, Malungon is a tourist town known for ecotourism and cultural sites, such as the Lamlifew Cultural Village and School of Living Traditions, the Kalon Barak Skyline Ridge, and a couple of agri and farm-tourism sites.

PWPA bats for sustainable forest management

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ustainable forest management, according to the United Nations’s Food and Agriculture Organization (FAO), addresses the significance of forest degradation and deforestation while increasing direct benefits to people and the environment. It means that it recognizes the inherent need of people for products directly derived from trees like timber and paper, while also ensuring that our forests are protected and will continue to be ecologically viable for generations to come.

Socially, sustainable forest management contributes to livelihoods, income generation and employment. By helping communities and individuals who primarily rely on forestry as their source of livelihood, this concept ensures that people can still earn off the land while protecting it from further damage.

Here in the Philippines, the Department of Environment and Natural Resources (DENR) has committed itself to the promotion of sustainable forest management. It has said that the National Greening Program of the Philippines aims to expand forest cover, mitigate and adapt to climate change, conserve biodiversity, poverty alleviation and inclusive growth while adhering to the principles of good governance.

An Executive order has been issued in 2004 that further cements the country’s commitment to sustainable forest management as an effective way to promote the protection of forest cover while alleviating poverty all around the archipelago.

“In the Philippines, we believe that sustainable forest management is the only way

forward,” Charlie Liu, chairman of Philippine Wood Producers Association (PWPA), said.

“By ensuring that we are balancing the needs of our people and the viability of our forests, we can reach a more prosperous and sustainable future for the entire country.”

PWPA is one of the leading voices pushing for the wider adaptation of sustainable forest management practices in the country. The organization, which boasts itself of members from various stakeholder organizations within the forestry sector, believes that the country can become more involved in the protection of the forests while also pursuing the interests of many Filipinos whose livelihoods depend on forest-based industries.

“Many communities in the country are reliant on our forests to ensure that their families eat three times a day. It is of immense relevance that we look out for their well-being while protecting our forests from further damage, that is the very essence of sustainable forest management,” Liu said.

He added that sustainable forest management is a holistic approach to the problem facing the forests today as it not only focuses on the well-being of the environment but also zeroes in on the needs of the people who directly benefit from it.

“What’s good about sustainable forest management is that it solves the problem without leaving anyone behind. It is a realistic approach to a very real problem, and that’s what makes it effective. It approaches deforestation from all fronts ensuring that we promote the protection and well-being of our forests while pushing for social development,” Liu said.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, November 26, 2018

Editor: Lyn Resurreccion • www.businessmirror.com.ph

A9

Bantay Pawikan volunteers teach children to help save endangered marine turtles

From predators to protectors of ‘pawikan’ Story & photos by Jonathan L. Mayuga @jonlmayuga

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arine turtles are important. Why do we need them? Because they help maintain ecological balance. Do you know that marine turtles eat jellyfish? Without marine turtles, there will be plenty of jellyfish, and you cannot swim in the ocean because the jellyfish will get to you and sting you,” a jolly Manolo Ibias told a group of young students on November 15.

Ibias, more popularly known as Mang Manolo, is not a teacher. He is one of the Bantay Pawikan volunteers who run the Pawikan Conservation Center in Barangay Nagbalayong, Morong, Bataan, while the students were from the Learning Links Academy, a school based in Silang, Cavite. They were on a four-day “Bataan Immersion” in Morong, Bataan.

All eyes and ears were fixed on Mang Manolo, the chairman of the group Bantay Pawikan, as he gives lessons that are not normally taught inside the classroom.

Aided by a small projector and graphic illustration of the life cycle of a pawikan, Mang Manolo has been teaching young students visiting their small facility that was established to help save the endangered marine turtles.

Among his “students” that day were some parents who volunteered to join the immersion as they accompanied their children.

Jojie Sastrillo, 48, said the students, as well as their parents, were being taught about the value of marine turtles and why it is important to prevent their extinction.

She said she was happy to see her 11-year-old son, Lance, learn from the activity.

“What did you learn about jellyfish and marine turtles?” she asked Lance.

“Marine turtles are important because they eat jellyfish. Without marine turtles, you cannot swim in the ocean because there will be too many jellyfish in the ocean,” the boy replied.

Asked what he liked about the visit, Lance said: “I like the experience releasing the turtles. We were taught about the common mistakes in releasing turtles. It’s fun!” he said in mixed English and Filipino.

Bantay Pawikan

Teaching young students like Lance is almost a daily routine for the 66-year old Mang Manolo and his crew of 17, mostly senior citizens who operate the Pawikan Conservation Center as part of their sworn duty to protect and conserve the endangered pawikan and their natural habitat.

In Morong, they are known as Bantay Pawikan, the provincial government of Bataan’s first line of defense against all forms of threat against the endangered marine turtles and their habitats, including ocean pollution, destructive fishing, poaching, and harvesting eggs, or simply not caring enough to help rescue injured marine turtles.

As members of Bantay Pawikan, their life’s mission is to prevent the extinction of the endangered marine turtles.

Established in 1999, the Pawikan Conservation Center has become a beacon of hope for the endangered pawikan in Morong, Bataan, the global population of which has dramatically gone down, mainly because of the illegal wildlife trade.

Marine turtles are hunted for their meat, shells, tails, including eggs that are harvested in known nesting grounds, such as in Bataan province.

The Bantay Pawikan was organized by the coastal communities of Morong with the help of by the provincial government of Bataan and the Department of Environment and Natural Resources (DENR) to address the rampant hunting of marine turtles and harvesting of eggs in the coastal communities for the longest time.

Former predators

“Before, we were predators of marine turtles. Now, we are their protectors. We harvested eggs and eat them. That was before the government talked to us and told us to stop doing it because the pawikan population has gone down,” Mang Manolo admits.

The 1,500 square meter Pawikan Conservation Center was then established in 1999, the same year their group was organized. It has a small hatchery, and a lodging house, the income from which fuels the operation of the facility.

“Our job is mainly to guard the marine turtles to prevent poaching. When we see them lay the eggs, we collect the eggs and transfer them to our hatchery,” he said.

Mang Manolo said, that before the Bantay Pawikan was organized, the eggs were harvested and sold

An olive ridley hatchling struggles to the shore in Barangay Nagbalayong, Morong, Bataan, upon release by visiting tourism students from PLT College on November 15.

This rescued injured pawikan is an added attraction in the Pawikan Conservation Center.

Mang Manolo shows visiting students the newly hatched olive ridley turtles during a briefing before releasing them back into the wild.

secretly at P3 to P4 each.

Today, he said some “hardheaded” poachers harvest eggs when the Bantay are not around, and sell three eggs for P20.

Through the facility, which is frequented by students from various schools in the country, the members of Bantay Pawikan help send the message across about the serious threats to, and vulnerabilities that can lead to the extinction of these amazing creatures of the sea.

“Teaching them on-site, with real pawikan or even colorful photos, is effective. It is always better to start teaching about the importance of wildlife while they are still young,” Mang Manolo said, noting that the Center’s visitors are sometimes students in high school and college, who, unlike the younger ones, are not always able to absorb the allimportant lessons.

On the same day, when students of Learning Links Academy visited the Pawikan Conservation Center, some tourism students of the PLT College based in Nueva Vizcaya were there to learn from Mang Manolo and his fellow Bantay Pawikan.

Some of them were given the opportunity to release a few of the newly hatched olive ridley turtles.

Together with those released by the Learning Links Academy students on the eve of November 14, a total of 42 olive ridley hatchlings were released. As of November 15, there were 40 nests in the hatchery.

“That is about 4,000 eggs. But in one season we get to secure 200,000

eggs,” Mang Manolo said.

He said about 73 percent of the eggs are hatched and released back to the ocean.

“Owing to the many threats, it was assessed that only 1 percent or even less will survive and, hopefully, return here to lay eggs,” he said.

That is the reason, he explained, marine turtles are highly vulnerable and can become extinct if not cared for.

Migratory turtles

Five of the known seven highly migratory marine turtles are known to visit the Philippines, which hosts a number of important nesting sites, such as the Turtle Islands in Tawi-Tawi province, the biggest marine turtle sanctuary in Southeast Asia, and the province of Bataan, which hosts several nesting grounds, including sanctuaries or hatcheries where the eggs are transferred and secured.

Sometimes, turtle eggs are reported and transferred to the hatcheries with the help of “enlightened” members of coastal communities, which were attributed to the effective awareness campaign of the DENR, the provincial government, and various local government units (LGUs) of Bataan, said Edgar D. Laggui, Community Environment and Natural Resource Officer (Cenro) in Bagac.

Volunteerism

Laggui told the BusinessMirror in an interview on November 15 that volunteerism is key to protecting the

coastal and marine environment, including threatened species.

“Our volunteers here in Pawikan Conservation Center do not receive a salary. They only get allowances.

They patrol the coastal areas and help protect the marine turtles,” he said.

There are five marine turtle hatcheries in Bataan. Besides the hatchery inside the Pawikan Conservation Center in Morong, there are three more in Mariveles, Bataan and one in Bagac, which is being managed by Montemar Beach Resort in Bagac.

Adela M. Lunca, of Cenro Bagac Park Maintenance who is also detailed in the DENR-Bataan’s Biodiversity Management Sector, added that because of the strong collaboration between the DENR, the provincial government, Morong-LGU and the communities, the trading of turtle eggs has stopped in Morong.

“Now, even the communities are turning over the eggs they discover. They are now fully aware of the importance of those eggs,” she said.

Pawikan Festival

The strong commitment of the provincial government in protecting and conserving marine turtles is demonstrated by the holding of the Pawikan Festival every December 1 and 2.

In a telephone interview on November 14, Raul Mamac, Bataan Provincial Environment and Natural Resource officer, said the Center is a nesting site of marine turtles.

During the festival, people from all over Bataan, including visitors from other provinces, congregate in the area to join the festivities.

The DENR, he said, has partnered with the provincial government to ensure the protection and conservation of Bataan’s mangrove forests.

“We have around a 10 kilometer stretch of thick mangrove forest from Organi to Samal and Abucay, including our wetland [in Bagac],” he added.

Mamac underscored the importance of maintaining the health of the coastal and marine environment, as well as its forests, to the people in the province, who continue to rely on the terrestrial and coastal resources.

‘1M 4 1B’ program

D em o nstratin g B a t a a n ’s pro-env ironment stance, he said var ious sta keholders are being rallied behind the “1M 4 1B” program, which stands for “1 million trees for 1 Bataan Cha l lenge,” a massive tree-planting prog ram, “c o n c e p t u a l i z e d t o e m p o w e r env i ronment a l responsiveness t hrough crowdsourcing to encourage ever yone to ta ke action in this responsibi lit y.”

Protecting and conserving the marine turtles is part of the Integrated Coastal Management (ICM) of Bataan province, said Engr. Victor Ubaldo, the Provincial Government Environment and Natural Resources Office chief of Bataan. The ICM in Bataan was strengthened by the partnership of the provincial government, the DENR and the Partnerships in Environmental Management for the Seas of East Asia (Pemsea).

“As much as possible, because of industrialization, we try to strike a balance between economic growth and protecting the environment, particularly our coastal areas,” Ubaldo said.

Bataan is at the forefront of the country’s socioeconomic growth boasting of a robust agriculture fishery, and manufacturing sectors, according to the official web site of Pemsea.

Among the ongoing ICM activities in Bataan are coastal strategy development, beach clean-ups, public-awareness campaigns, mangrove rehabilitation and fish/turtle sanctuary establishment.

“If you will notice, here in Bataan, we have several seaports. We also have some private seaports. But as much as possible, we try to conserve our mangrove forests and we also do rehabilitation,” Ubaldo added.

Incidentally, Pemsea will showcase ICM sites in the Philippines as it plays host to the East Asian Seas (EAS) Congress 2018 from November 27 to 30 in Iloilo City.

Bataan, Ubaldo said, will be sending two delegations—one for the Congress and another delegation for the Fifth EAS Youth Forum, which will be held parallel to the EAS Congress 2018.

Asean tackles actions on biodiversity and human health at Egypt meet

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HARM EL-SHEIKH, Egypt—Addressing mental health and healthy aging through greening of cities; organizing information systems on diseases and state of biodiversity in emerging disease hot spots; and listing and mapping endangered medicinal and nutritional species were among the immediate joint interventions for human health and biodiversity recommended by officials and experts in both sectors from that the Asean member-states.

This was repor ted in a statement re a d by D r. Th e re s a M undita S. Lim, executive director of Asean Centre for Biodiversity (ACB), during the Roundtable on Mainstreaming Biodiversity in Health

at the ongoing United Nations Biodiversity Conference in Egypt.

Highlighting the importance of biodiversity in human health, Lim mentioned the experience of Singapore, which shows that biophilic cities contribute to better health and well-being. (Biophilia is defined as the urge to affiliate with other forms of life.)

“In marine ecosystems in the Asean region, there are shellfishes that produce substances that have the effect of painkillers that are more power ful than morphine, but without being addictive.

Some marine produc ts are also being explored as cures for various types of

diseases and, potentially, for cancer,” Lim added.

Lim said the biodiversity in the Asean region continues to decline at an alarming rate.

“The link between biodiversity and human health needs to be better communicated and understood. Strengthening collaboration between health and biodiversity sectors is an important step in making sure that biodiversity is protected toward a healthy Asean community,” Lim said.

ACB also reported that more than 16,000 species of plants and animals in the Asean forests, inland waters and marine ecosystems provide the variety of sources for food and

balanced nutrition needed by indigenous peoples and local communities.

Th e U N B i o d i ve r s i t y Co n f e re n ce’s Roundtable on Mainstreaming Biodiversity in Health discussed national experiences on strengthening biodiversity conservation for nutrition and well-being, and traditional use of medicinal plants; developing national portfolios on air quality, water and sanitation to reduce negative health impacts; combatting malaria, including through tools that require biosecurity measures; and the importance of raising awareness of biodiversity within the health sector, among others.

Lim said the Asean recommendations e m e rg e d f ro m a re c e n t l y c o n c l u d e d

regional workshop on human health and biodiversity, which was organized by ACB in partnership with the Convention on Biological Diversity (CBD) Secretariat, the World Health Organization, UN University’s International Institute for Global Health and the European Union. The workshop also identified opportunities to incorporate biodiversity in Asean regional policies and action plans to address malnutrition and antibiotic resistance.

As Asean’s response to biodiversity loss in the region, ACB is taking part in the ongoing UN Biodiversity Conference and will be hosting a side event, titled “Mainstreaming Biodiversity toward a Resilient Asean.”

It will be held on November 26, which will share the results of the series of biodiversity mainstreaming workshops and dialogues conducted by ACB, and discuss how biodiversity conservation is being integrated into other sectors, such as agriculture, business, infrastructure and urban development.

ACB also reaffirmed its partnership with the CBD Secretariat through a Joint Work Plan signed by CBD Secretariat Executive Secretary Dr. Cristiana Paşca Palmer and ACB Executive Director Lim during ACB’s press conference at the UN Biodiversity Conference on November 21, focusing on “Investing in Biodiversity for the Future: the Asean Way.”

A10 Monday, November 26, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Christmas chaos 2019

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HEN the words “Christmas” and “chaos” are used in the same sentence, if you drive or commute in Metro Manila, the word that immediately comes to mind is “traffic.”

But in that regard, 2019 is not going to be different from previous years.

However, globally, 2019 may be particularly turbulent. In the Philippines, it seems that our perception of global events often does not go much farther than East Asia.

There are other things going on that we should be aware of because economic and geopolitical events can become violent waves like a tsunami. Take the situation taking place in Europe as Italy prepares to pass its 2019 spending budget. This has created a major battle with the European Union (EU) that most people do not understand.

Because the 28 countries—including Italy—of the EU use a single currency and a common central bank, individual nations and their governments must keep within strict rules. In this case, Italy wants to increase its government budget and also its government budget deficit beyond the limits set by the EU. Under existing treaties and agreements, the EU can impose economic sanctions against a member for violations, including monetary fines.

While each nation uses the same currency and central bank, each of those governments has a different budget and issues its own individual debt. So why would the EU care what Italy does with its own finances?

Think of it in terms of this simplistic example: If you go to your local Manila bank to exchange US dollars for pesos, you now might receive P52 (to make the example easier) for each dollar. But what if the Cebu branch of the same bank offered P55 to the dollar? Imagine if the Iloilo bank branch were to exchange dollars for P70 with a notation on each bill that these pesos were good only for purchases in Region 6—the Western Visayas. Absolute chaos.

In the case of Italy, the increase in the budget deficit potentially makes Italian bonds riskier and therefore would require the Italian government to pay a higher interest rate. While there are currently wide differences in the interest rates (Germany pays 0.343 percent on its 10-year bond, and Italy pays 3.45 percent), the European Central Bank cannot have Italy take deliberate actions to widen the interest-rate spread anymore than there can be multiple peso-dollar exchange rates. Further, the ECB is the guaranteed buyer of last resort if the public refuses to buy bonds at an interest rate considered too low to justify the risk.

The EU has threatened to stop buying any Italian bonds if Italy breaks the rules. The public is already dumping Italian bonds as quickly as possible, like during the 2012 euro-zone crisis. Recognizing that “new” debt is used to refinance “old” debt, if Italy cannot raise new funds there is a great risk of a default, resulting in absolute chaos. This will all play out in the next two months.

What does that potentially mean for the Philippines? The downside is that when money runs scared, it runs to the US and the US dollar.

The upside is that after the peso “bloodbath of 2018,” money is realizing that the Philippines is not as bad as certain quarters make it out to be. We could see funds return to the “emerging markets” as they feel the pain of doing business in the “First World.”

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Lines from Ninoy Atty. Jose Ferdinand M. Rojas II

RISING SUN

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N Tuesday, November 27, we remember the birth of the late Philippine Senator Benigno Simeon “Ninoy” Aquino Jr. From the last interview that he gave—the one with ABC News’s Jim Laurie on the plane coming home on August 21, 1983, the day he was assassinated—let us go through some of the lines he uttered and study again the thoughts/insights from his words. It was a short interview, but very meaningful. I have picked out messages that are inspiring, relevant and may help us remember not only him as a public servant but also call to mind that significant time in our nation’s history.

The opposition can help restore democracy. Ninoy had said that he was not coming home to overthrow the administration at that time, but to help it such that democracy may be restored for the people. It is a refreshing perspective, to see the opposition not as an enemy but a partner in nation building.

Lessons from India on climate change Atty. Lorna Patajo-Kapunan

✝ Ambassador Antonio L. Cabangon Chua

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Generally speaking, oppositions are forces that may show us things that we refuse or fail to see and help us face truths that will lead us to make meaningful reforms.

A general shouldn’t be away from his troops, but present and leading them to victory. Before coming back to the country, Ninoy

knew that he would either face jail time or death. He was ready for both. He had legal cases to face and a political party to lead, but he expressed his disinterest in running for public office. At that time, Ninoy was simply coming home to fulfill a promise and to give “psychological and moral support” to his colleagues.

It was purely an act of courage and acceptance. If you knew that death awaits you, would you bravely come and meet it? Ninoy answered yes to that question, and that makes him an extraordinary public servant.

What we need (to do) now. It’s been 35 years, but the question is begging to be asked: How far have we come since that time? What were the achievements that we have made as a nation? Ninoy had said that he wanted to see “freedom of the press.” What do you think he would say about the state of press freedom now? He had said that we needed a “free, clean and credible election.” There is a major election coming up, which we all hope would be free, clean and credible. After an election, he said he had wanted to see

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HILST in New Delhi where I attended the Asian Patent Attorneys Association (APAA) Meeting last week, an interesting article in “Industrial Times” (November 18, 2018) caught my attention.

The article addressed the impact of climate change in 151 districts in India, which have become vulnerable to changing weather patterns.

According to a government study, crops, plantations, even livestock in 151 districts, or slightly more than one-fifth of the total districts in India, are susceptible to the impact of climate change, according to an annual review by the Indian Council of Agricultural Research, a wing of the agriculture ministry. The effects of climate change on India’s agriculture, which employs half the population and accounts for 17 percent of the country’s economic output, are no longer about distant projections.

The latest research, cited by the ICAR study, shows that the impact of climate change will be increasingly felt, as demonstrated by extreme weather events—and manifest itself in economic, political and even social consequences.

In J hark hand ’s Sa hibganj

district, rice-growing Maltos tribespeople are fending off new pests, attributed to changing temperature and rainfall patterns, according to a 2016 study by researcher Hoinu Kipgen Lamtinhoi, who conducted the research for the Fellowship of India Commission on Relief. The state’s Action Plan for Climate Change too flags these changes, said Lamtinhoi. These changes are capable of stoking social conflicts. Lamtinhoi’s research shows that crop-shriveling pests have led Maltos to move into areas dominated by Santhal tribes downhill, leading to clashes.

Apple belts in Himachal Pradesh have been moving to higher altitudes for want of sufficient cold weather, according to the ICAR. Crop-damaging spring hailstorms in central India and a sudden temperature spike in Punjab in 2010, which cut wheat yields by 26 percent that year, according to the Ludhiana-based Borlaugh Institute, are

other instances.

The ICAR has identified that of the 28 million hectares under wheat, about 9 million hectares are categorized as being prone to sudden heat stress. “These are the evidence of changing of weather patterns in India.” Said Pramod Aggarwal, one of India’s top climate scientists and a former national professor at the Indian Agricultural Research Institute (IARI).

Agriculture minister Radha Mohan Singh chaired a meeting on November 1 to review preparedness against extreme weather events.

Although there are several ongoing mitigation programs, including the flagship National Innovations on Climate Resilient Agriculture, these are scattered. Singh has asked ICAR to prepare a new scheme that integrates all existing ones. At the meeting, he proposed tentatively calling it the “Integrated Climate Resilient Agriculture Program.”

In each of the 151 climatically vulnerable districts, one representative village is now being chosen where “location-specific technologies” will be deployed. The technologies for demonstration have been selected based on the nature of vulnerability faced by the district and its main farming system. The ICAR’s climate review offers many granular findings. It states that mustard farmers in Gujarat’s Anand district should now be advised to shrink their sowing window to October 1020 from October-November to avoid

the economy restructured such that the government can help the poor.

For this last one, it is quite obvious that the poor still need plenty of support. Thirty-five years later, it is still highly debatable as to whether the Philippines has caught up with its other Asian neighbors, with the countries Ninoy mentioned in the interview: Taiwan, Korea, Hong Kong and Singapore. He couldn’t see any reason we can’t be as successful as a nation. It’s best to ask ourselves if we feel the same way.

We all have to die sometime.

He had accepted that he was either facing death or imprisonment because he believed that “assassination is part of public service.” Ninoy left us with this message, and I wish to end this column with a paraphrased version of that last message: “I cannot be petrified by fear of an assassination and stay in a corner. I have to suffer with my people, to lead them. It’s a responsibility given to me by our people. I promised to return, and I have returned against all odds.

That’s good enough for me. Landing here is victory enough.”

attacks by aphids, whose frequency has increased. The review blames changes in weather patterns for the attacks, including wind speeds of more than 2 kilometer per hour and mean temperature of 19 to 25.5 degrees Celsius. The review also states that in “10 mango-growing locations” of India, “incidence of fruit flies may increase due to projected increase in temperatures in future climate change periods.”

The National Economic Survey 2018 analyzed weather patterns over the past six decades, and found a long-term trend of “rising temperature” and “declining average precipitation”. Using data sets created by the University of Delaware and India Meteorological Department, the review projected that climate change could reduce annual agricultural incomes in India in the range of 15 percent to 18 percent on average and up to 20 percent to 25 percent in unirrigated areas. About 54 percent of India’s sown areas has no access to irrigation. The survey called for “drastically extending irrigation” and replacing “untargeted subsidies in power and fertilizer” with cash transfers.

The Philippines, like India, is and remains an agricultural country despite the widescale conversion by real-estate predators of our agricultural lands into subdivisions, condominiums and mass housing. We can learn from India useful lessons on how to deal with climate change See “Kapunan,” A11

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Opinion

Advocacy for <IR>

‘Responsive-ility’ and responsibility

BusinessMirror

By Alberto Agra

Joel L. Tan-Torres

PPP LEAD

DEBIT CREDIT Conclusion

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Continued from A1

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OW are Integrated Reporting <IR> and Sustainability Reporting faring in acceptance and adoption in the Philippines? It is progressing, but compared to neighboring countries such as Malaysia, Singapore, Hong Kong and Thailand, our country still lags behind. To date, there are just about 20 companies preparing sustainability reports together with their annual financial reports.

HILE “PPP for the People” (P4) for some may be overdramatic, the purpose of this development strategy must be underscored, not dismissed, downplayed and laughed at, and certainly should not be scoffed at. We must be constantly reminded of the “why” so that we may determine not just the “how” but more so the breadth of the formal, legal and moral accountabilities of the parties.

These include, among others, the major conglomerates, utilities, companies in the extractive industry and the major banks. The government has not required any mandatory reporting by companies of their sustainability activities or impact, except the Department of Environment and Natural Resources, which mandates submission of performance reports by companies that it regulates. The Securities and Exchange Commission has exposed a draft for comments on sustainability reporting guidelines and reporting templates for publicly listed companies in July 2018. It is possible that these PLCs will soon be mandated to report their environmental, social and governance performance in sustainability reports to SEC. Pending the release of mandatory submission of <IR> or sustainability reports by relevant regulators, enterprises will essentially be preparing such reports on a voluntary basis, depending on their management’s or stakeholder’s prerogative.

Small and medium enterprises can likewise benefit from pursuing an <IR> mindset. The SMEs can derive value from the discipline of integrated thinking and <IR>.

By using the <IR> framework, the management of SMEs can think through their organization’s strategy, governance, performance and prospects, in the context of their external environment, toward the creation of value in the short, medium and long term, and utilizing their capitals or resources in an integrated manner. In short, <IR> can be used as methodology to achieve better performance by enterprises and clearer communication to their stakeholders. Sometime in January 2018, I, as chairman of the Professional Regulatory Board of Accountancy, organized a seminar entitled “Integrated Reporting and Thinking for SMEs,” which dwelled on the relevance and approach of implementing <IR> by SMEs. There were about a hundred attendees who appreciated the learning on <IR>, including the fact that this can be applicable to them.

The accountants can play an important role in <IR>. They can be the champions in their respective

Thus, to future-proof the PPP is to future-proof the purpose of PPP. All PPPs must directly, not just incidentally, contribute to a better quality of life for Filipinos. The people need more services, better services,

Kapunan. . .

continued from A10

and its impact on our farmlands.

I urge government to consider the following: n Create an “Integrated Climate Resilient Program”—at present, there are several ongoing mitigation/ disaster-preparedness programs that are scattered. Some are Statesponsored/local government-led.

Others are private sector/civil society initiatives, church and community sponsored, nongovernment organizations or foreign aid projects.

The challenge to our government is to integrate all existing climatechange initiatives and programs into one Integrated Climate Resilient Program that will be followed regardless of any change in administration, policy advisers and local government officials. n “Location—specific technologies” should be deployed based on the nature of vulnerability faced by the region (province/city/municipality) and its main farming system. A

organizations in pushing for its adoption. For our Certified Public Accountants in the corporate sector, they can initiate efforts where their companies can consider <IR> and sustainability reporting. For our practicing CPAs, they can start learning more about <IR> and start offering these to their clients as part of their value-added services.

For our government accountants, they can consider the principles and processes in <IR> in formulating rules that companies should comply with to attain the desired public good. Accounting teachers and students should also start reading and learning on the many advantages and uses of <IR>. It is to be noted that the Philippine Institute of CPAs has also joined the <IR> bandwagon with its offering of <IR> in its Continuing Professional Development seminars, and in the last Annual National Convention in Bacolod City in November 2018. As for me, I have been attending several conferences here and abroad, reading on the developments and establishing my network in the <IR> community. Also, I have been the Philippine representative to the Intergovernmental Working Group of Experts of International Standards of Accounting and Reporting of the United Nations since 2016. The ISAR is focusing now on the financial and nonfinancial reporting on the attainment of the UN Sustainable Development Goals, which is very much aligned to the <IR> and sustainability reporting thrust.

I enjoin my fellow accountants to keep up with this relevant development on <IR> and sustainability reporting. In the process you are doing your share in uplifting your personal, professional, business and environmental concerns.

Joel L. Tan-Torres is a Certified Public Accountant who placed No. 1 in the May 1979 CPA Board Examinations. He was the former Commissioner of the Bureau of Internal Revenue from 2009 to 2010 and the chairman of the Professional Regulatory Board of Accountancy from 2014 to August 2018.

This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com.

review of what crops or grains to plant and the optimum planting/ sowing window must be made by our technical/agricultural experts to guide our farmers. n Access to agricultural capital, free irrigation, subsidized power and farm implements, fertilizers, crops and grains should be made available to farmers to ensure sufficient food supply. n Investment in agriculture, organic farming and farm-to-table foods should be encouraged by giving tax/fiscal incentives.

The government’s policy on importation of basic agricultural commodities must be reviewed with the end in view of protecting and making stable and viable our own agricultural sector.

While we cannot stop or reverse climate change, our government certainly can mitigate its drastic impact, especially where it affects our basic need for food and food sufficiency.

Let us not add man-made disasters (e.g., government inaction, inefficiencies, wastage of public funds) to our natural disasters!

affordable services and timely services. This must be explicit, defined, measurable, captured in performance indicators and auditable by the communities, the intended beneficiaries.

Deathbed mentality Siegfred Bueno Mison, Esq.

THE PATRIOT

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HAT would you do today if it were your last day in this world? I have heard questions like this in spiritual retreats and religious seminars. In the book The Monk Who Sold His Ferrari, author Robin Sharma challenges the reader to have a deathbed mentality as part of his seven timeless virtues of enlightened living. Sharma believes that, since time is the most precious commodity on Earth, we have to wisely spend our time doing high-impact activities such as building relationships either at home or at work.

Time management is a skill that is common to all servant leaders. They have enough time for everything, since they know their priorities in life. They might be doing a lot of activities, but their end game is not about quantifiable numbers such as income, assets, trophies or accolades; theirs is more about the number of leaders they have developed and left behind. Adopting this deathbed mentality as suggested by Sharma, servant leaders will likely spend their remaining hours on Earth with people they have served—family, friends and those whose lives they touched. And since such leaders have this mentality, they know how to manage their time wisely, everyday—by developing and nurturing relationships with those around them. Every interaction is not just a one time transactional event; it is a

relationship building opportunity.

Someone famous once said that everything gets easier, simpler, if not better, with good relationships. A colleague in Philippine Airlines who had previous experience in government exactly knows how to get things done. Deogracias C. Grafil knows how to build rapport in agencies where PAL does business. And the relationships he builds with others are not premised on gifts or any monetary commitment or consideration.

DCG simply engages everyone he talks to with respectful gestures and meaningful conversations. In other words, DCG just talks to them with no hidden agenda, except to build a healthy relationship. In his two years in PAL, he has developed friendships (not mere contacts) in agencies like the Board of Investments, Manila International Airport Authority, Se-

Monday, November 26, 2018 A11

This vision must be consciously adopted and judiciously pursued. The public servants, the one signing for the IA and the PSP leaders are equally accountable to the public for all these.

They should not shirk from this duty just out of fear of punishment or loss of revenues but more so out of dedication to the vision and the served.

They must be held accountable for their actions and inactions.

The journey and the concomitant responsibility do not end with the sealing of the transaction, i.e., the signing of the contract and the issuance of the award. In the overall scheme of things, that is just chapter one of possibly 10 chapters. The transformation for the better must actually come about, not just captured in paper, study or PowerPoint presentation. While the signing of a landmark partnership pact must be hailed as a testament to an innovative and purposive collaboration, it is not the be-all and end-all.

The P4 comes alive through the timely delivery of the facility, needs being served, balanced regulation, calibrated tariff-setting, continuous learning of the stakeholders, trustbased relationship between the parties, accountable governance with the community, and the calibrated practice of a whole spectrum of leadership and management approaches.

Thus, P4s, the policy, program and projects require “responsive-ility” and responsibility. These are the twin Rs that would future-proof this people-centered strategy.

Imagine if these two are absent.

There could be no project, facility not patronized, unresolved protests, jailed signatories, unilateral cancelation of agreements by successor leaders … and worse, unhappy people and dismal quality of life. The PPP contract is therefore not just a legal agreement between the parties.

The P4 becomes a living covenant between the IA-PSP and the people.

curities and Exchange Commission, Bureau of Customs and Department of Finance, to name a few. I suppose DCG is gifted with interpersonal skills, and being friendly, to him, is second nature. He has the same approach when it comes to his colleagues in the Legal Affairs Department of PAL. He could be voted as Mr. Congeniality in the department if ever there will be a search for one. He may not know it, but DCG is living the words found in Colossians 4:6 where the Bible tells us, “Let your conversation be always full of grace, seasoned with salt, so that you may know how to answer everyone.”

Good leaders understand that time is a nonrenewable resource.

Good leaders might look at historical achievements for benchmarking purposes, but better leaders always look at the past as a reference to move forward and see each past event as an opportunity to be better. When things in the past went their way, they will never rest on their laurels.

When things in the past did not go their way, they say the sun always shines better in the morning. As Sharma said in his book, “Never be a prisoner of your past. Become the architect of your future.” And I think the future of our country and of our people depends on the people we will leave behind.

So what must we do each day to have a successful and meaningful life? Have a deathbed mentality every time we wake up. Do anything to feed our mind, body and soul, supposedly, for the last time. We nourish our mind whenever we read

inspirational books, whenever we think of nothing and just laugh with a friend. We feed the body by just eating the right foods and getting enough rest. Go out and exercise.

We feed the soul whenever we appreciate the little things taken for granted, like a beautiful sunrise or whenever we do a random act of kindness like pulling a chair for someone or just sharing a meal.

Spend quiet dinners with your loved ones. These are just some of the things most people would or should do whenever they realize their mortality. These are not transactional but relational. Everything truly gets easier, simpler, if not better, with good relationships.

And, most important, let’s not forget to give thanks to those around us, everyday. If we live each day with these things in mind, our time here on Earth is effectively managed.

In the words of Sir Isaac Pitman, “Well-arranged time is the surest mark of a well-arranged mind.”

And as for DCG, I truly thank him for gifting me the book of Sharma about personal effectiveness and individual happiness! I have read quite a few inspirational books by best-selling authors Stephen Covey, John Maxwell and Mitch Albom, to name a few. But the book The Monk Who Sold His Ferrari is a must-read for those who want to live a more enlightening life and leave the world a little better than they found it—people like DCG. For questions and comments, please e-mail me at sbmison@gmail.com.

Donald Trump and America can’t live without Opec

By Julian Lee Bloomberg Opinion

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HE US Department of Justice is formally reviewing antitrust laws aimed at curbing Organization of the Petroleum Exporting Countries’s power over oil markets, raising the prospect of anti-Opec legislation landing on President Donald J. Trump’s desk for signature. Tempting as it might be, the long-term cost of ending the group’s influence over prices would far outweigh any quick gains.

Bipartisan anti-Opec bills have been introduced in both the House and Senate, although neither chamber has voted on them yet. The House Judiciary Committee in June approved the “No Oil Producing and Exporting Cartels Act,” or Nopec bill. That would amend the Sherman Antitrust Act of 1890 to give the US Attorney General authority to file a suit against Opec for trying to control oil production or affect crude prices.

Previous presidents said they would veto any such legislation. How Trump would react is, as so often, impossible to predict.

His love of cheap gasoline and frequent Twitter rants against Opec suggest that lawmakers have more

of a friend in the White House. But Trump’s equally public support for Saudi Arabia’s embattled Crown Prince Mohammed bin Salman hints that even he may balk at signing into law an act that would damage the kingdom and its young leader-inwaiting and put at risk those arms sales the president is so keen on.

The rationale behind the Nopec legislation is clear. Crude oil costs make up about 60 percent of US pump prices for gas and diesel, far more than in Europe where taxes make up most of retail prices. Cut crude prices, by curtailing Opec’s power to raise them, and you quickly get cheaper gas. The benefits are spread widely across the electorate, and there’s a clear link back to policy—just what every politician loves.

But the situation is less straightforward than that. Soaring US oil production means it makes a much bigger contribution to the economy than was the case just a few years back. So the benefit of low crude prices for the country is a lot less clear now than, say, when oil prices were $100 a barrel and US production was about half what it is today.

The recent slump in crude prices will probably worsen the US’s “already challenged” economic outlook,

Saudi Arabia says repeatedly that it won’t balance supply and demand on its own. The agreement that helped lift oil prices after their steep fall in 2014-2015 took so long to put together because the kingdom insisted that producers from outside Opec join the push.

according to Morgan Stanley strategists. It may begin to weigh on the dollar too, TD Securities says.

And what about the broader impact of curtailing Opec’s ability to manage global supply to reflect changes in demand? I have written before about how emasculating the group would cripple the whole sector’s ability to respond to unexpected supply losses. True, soaring shale oil output has let Trump slap sanctions back on Iran without triggering a surge in prices. But that won’t last forever. In five years’ time we’re going to need a new safety net. If the Opec countries aren’t providing it, who will?

Saudi Arabia says repeatedly that it won’t balance supply and demand on its own. The agreement that helped lift oil prices after their steep fall in 2014-2015 took so long to put together because the kingdom insisted that producers from outside

Opec join the push.

We have no recent experience of a “free” oil market. Supply management by Opec was preceded by the even tighter control exercised by the “Seven Sisters” group of oil companies and, before that, the Texas Railroad Commission. We have to look back to the earliest decades of the industry in the 1860s and 1870s to see the real impact of a truly free market: It was the most volatile period for oil prices in history—apart from the 1970s and the Arab oil embargo and Iranian revolution. Sure, volatility-loving traders might rub their hands in delight, but not producers and consumers.

There’s also the question about at what price you stop making money from investing in fields. In March oil consultancy Wood Mackenzie published break-even assessments for potential new projects. Sure, the best would make money even with oil at $20 a barrel, but there aren’t nearly enough of them to offset the decline of old fields. With Brent at $50, the Gulf of Mexico and large parts of the US shale patch become uneconomic.

So if you want to stop Opec managing oil supply to support prices, be careful what you wish for. It’s a thankless, but necessary, task.

2nd Front Page BusinessMirror

A12 Monday, November 26, 2018

www.businessmirror.com.ph

Despite woes, Coron, El Nido remain on cruise ships’ routes

By Ma. Stella F. Arnaldo

M

@akosistellaBM Special to the BusinessMirror

AJOR luxury cruise lines continue to sail to El Nido and Coron despite the environmental issues both towns are currently facing.

This developed as the Department of Tourism (DOT) continues to promote the popular Palawan jewels as part of its larger cruise tourism program. In a text message to the BusinessMirror, Undersecretary for Tourism Development Planning Benito C. Bengzon Jr. said: “As of the moment, we are still awaiting the recommendations from the LGU [local government unit].”

Silversea Cruises, majority owned by Royal Caribbean Cruises Ltd., has two cruise ships currently sailing to El Nido and Coron from Singapore. In December, Windstar Cruises has four cruises

“There are many [destination] options to explore especially in the northern part of the Philippines such as Currimao, Subic and possibly even Batanes. And as the Philippines slowly makes a reputation of a destination that promotes sustainable tourism, we are optimistic that we will still achieve the target of 200,000 cruise passengers by the end of 2018.”—Bengzon

separately departing Hong Kong and Bangkok that includes both Palawan towns, along with Manila, and Hundred Islands.

Windstar Cruises also has Boracay Island on its December Asian cruise itineraries, despite the Boracay Inter-Agency Task Force (BIATF) recently prohibiting cruise ships from dropping anchor there.

The BIATF wants to limit tourists on the island to stay within the carrying capacity limits set by scientists for the Department of Environment and Natural Resources (DENR). The study indicated only 19,125 tourists could be allowed at any given time on the island, with daily tourist arrivals capped at 6,025.

Bengzon said “cognizant of the economic and social contributions brought about by cruise tourism, the DOT will continue to promote the Philippines as a competitive cruise hub in Asia.”

He added, “There are many [destination] options to explore especially in the northern part of the Philippines such as Currimao, Subic and possibly even Batanes.

And as the Philippines slowly makes a reputation of a destination that promotes sustainable tourism, we are optimistic that we will still See “Coron,” A2

BM-HINO PARTNERSHIP BusinessMirror and Hino Motors Philippines Corp. recently forged a partnership, and marked it with the turnover of a truck at Hino’s assembly office in Canlubang, Laguna. Riding the left truck is Susumu Myokan, director and VP-Business Planning/General Sales of Hino Motors, and Vicente Mills Jr., Hino Motors chairman. In the right truck is BusinessMirror Publisher T. Anthony C. Cabangon. NONIE REYES

Marina upbeat on PHL maritime road map

By Lorenz S. Marasigan @lorenzmarasigan

T

HE chief of the Maritime Industry Authority (Marina) has presented its decadelong industry development program to the I nternational Maritime Organization (IMO), the specialized agency of the United Nations that regulates shipping worldwide.

In a statement, Marina said it “remained optimistic” even after the

$5.8B Remittances sent home annually by some 800,000 Filipino seafarers

presentation of the maritime industry development program, a road map that guides the Philippines to

achieving its goal of “becoming a nationally integrated and globally competitive maritime nation,” to the IMO during a council meeting in London.

During the meeting with IMO Secretary-General Kitack Lim, Marina Office in Charge Narciso Vingson Jr. presented the major programs under the 10-year industry development program, including the development of an international maritime hub and the development of coastal and inland twaterway transport system.

See “Marina,” A2

Rice tariffication to benefit other crops–expert

By Cai U. Ordinario @caiordinario

T

HE passage of the rice tariffication bill at the Bicameral Conference Committee will also benefit other agricultural crops, ac-

cording to a local economist.

Ateneo EagleWatch Senior Fellow Leonardo A. Lanzona Jr. told the Business M irror that the tariffication can boost reforms in other crops given that it will lessen the rice-centric approach of the government in agriculture. Local

NORTHEAST MONSOON AFFECTING NORTHERN LUZON TYPHOON “TOMAS” 1,525 KM EAST OF APARRI, CAGAYAN as of 4:00 am - November 25, 2018

economists have pointed out that the government’s focus on rice has stolen time and resources away from developing other crops where the country could have a comparative advantage.

“The impact of this law goes beyond the lowered rice price which the

lawmakers intended. Its impact is to rationalize the agricultural sector which has focused on rice sufficiency. With this law, other crops where we have comparative advantage can now be considered for reform,” Lanzona said.

Lanzona said the impact on rice prices may not even be felt given that inflation has been managed. But what is more important is that more resources can be given to other activities in the farm sector.

“Even the prices will not be affected in the short run since inflation has now been managed. But government resources can now be placed more effectively over the long term, bringing in greater productivity in the sector,” Lanzona said.

Meanwhile, the National Economic and Development Authority (Neda) estimates that headline inflation would go down by a percentage point if rice prices are reduced to the level of imported rice.

Even with just a P1 per kilo reduction in the wholesale price of rice, Socioeconomic Planning Secretary Ernesto M. Pernia said headline inflation rate would also be reduced by 0.3 percentage points. The Neda said rice tariffication also helps improve the productivity of farmers and, as a result, boosts their incomes.

The bill provides for the establishment of a Rice Competitiveness Enhancement Fund from an annual appropriation of P10 billion for the next six years. If the tariff revenues exceed P10 billion in any given year, the excess revenue will still be plowed back to RCEF to support rice farmers.

“We view this as a positive development as the administration’s economic team exhausts all efforts to tame increases in the prices of goods. With only the President’s signature before rice tariffication becomes a law, we are making a big step in the realization of our agricultural reform agenda,” Pernia said.

In 2014 PIDS Senior Research Fellow Roehlano M. Briones and Research Analyst II Danileen Kristel C. Parel said the country’s rice self-sufficient policy is obsolete.

They said it cost taxpayers debts worth P156 billion as of 2009, courtesy of the National Food Authority, whose “buy high, sell low” policy is draining government coffers.

CHEER AT T3 Still part of the airport authorities’ initiative to light up the country’s terminals with some help from stakeholders, Cebu Pacific Air (CEB) and the Manila International Airport Authority (Miaa) unveiled a holiday display at the Ninoy Aquino International Airport Terminal 3.

Gracing the event were (from left): Alexander Lao, Cebgo president and CEO; Atty. JR Mantaring, VP for Corporate Affairs; Mr. Milky Evangelista; Terminal 3 Manager Dante Basanta; Miaa General Manager Eddie V. Monreal; CEB Chief Operating Officer Michael Shau; Candice Iyog, VP for Marketing and Distribution; Alex Reyes, VP for Cargo; and Bing Stoifl, director for External Affairs. NONIE REYES

Holiday cheer all over at Naia Terminals 3, 4

L

EADING Philippine carrier Cebu Pacific, in partnership with the Manila International Airport Authority, has decked out its main Manila hub—the Ninoy Aquino International Airport Terminal 3—with décor reflecting the holiday cheer. Naia Terminal 4— used by its interisland domestic subsidiary Cebgo, will likewise be decorated for the holiday season by Cebu Pacific.

“Cebu Pacific has been operating out of the Naia Terminal 3 since 2008. It has been our home for the last 10 years and it is only fitting to mark this milestone with a festive holiday display,” said Michael Ivan Shau, the newly appointed chief operations officer (COO) of Cebu Pacific.

Both Terminals 3 and 4 will feature a festive décor of lights and gift boxes reflecting the merry and festive feel during the Christmas season. Terminal 3’s Departure area will be a giant gift box decorated with lights where travelers can have fun with emoji boxes and a wall travel holiday mural. At the Arrival area, baggage conveyor belts will be decorated with Christmas trees made from piled gift boxes; and at

the salubong, or greeters and wellwishers area, a tall Christmas tree made of piled-up gift boxes is set against a backdrop of lights.

Terminal 4, on the other hand, was decorated with colorful lights at the check-in area, Christmas trees at ever y column at the boarding gates and baggage claim areas; and a texturized wall of gift boxes where passengers can take photos.

Passengers arriving in Manila will be treated to Christmas carols from some of the Philippines’s best beatboxing and acapella groups at the Naia Terminal 3 arrival area, such as Syncofellas, Conchords and MVibe.

Aside from the festive décor, CEB has also invested in additional facilities at the terminals to improve passenger experience, such as passenger boarding ramps and airport operation mobile applications to streamline check-in and in-flight operations.

The airline also took delivery of an additional two brand-new aircraft—an Airbus A321CEO (Current Engine Option) and an ATR 72-600 aircraft, just in time for the peak season. Recto L. Mercene

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, November 26, 2018

B1

Meralco sees demand for power up 5% this year

M

By Lenie Lectura

@llectura

ANILA Electric Co. (Meralco) is expecting electricity demand this year to grow by 4.5 to 5 percent from 2017.

“We’ll probably end this year at about 4.5 percent to 5 percent.

I think we have to see what the final November and December figures are, but call it a 4.5-percent to 5-percent growth from last year,” Meralco President Oscar Reyes said.

This year’s energy sales growth could be attributed to increased consumption from all consumer segments, he said.

In 2017 energy sales volumes grew by 5 percent to 42,102 gigawatt hours brought about by a

growing customer base, positive economic conditions, stable power supply and low power-plant outages during the year.

This was underpinned by customer retail and network initiatives to accelerate new customer acquisitions and energization, and to minimize distribution-system interruption, Meralco said.

Without providing figures, Reyes said Meralco earnings this year will improve from last year.

“Compared to 2017, I think because of this volume growth, we

expect a slightly better bottom line,” he said.

The utility firm posted a net income of P20.4 billion last year, up 6 percent from the previous year mainly due to higher electricity sales.

Core income also improved by 3 percent to P20.2 billion at end2017, from 2016’s P19.6 billion.

Last year’s revenue was 10 percent higher at P282.55 billion, from P257.18 billion in 2016. Electricity revenues amounted to P275.2 billion, while the remaining P59.6 billion accounted for distribution revenue.

Reyes said sales growth is against a high base last year.

“We have to recognize that 2017 and 2018 are high base years so you cannot continue to grow at a same rate if your preceding year is a high base,” he explained.

The Meralco official noted developments in the sector that could slow down electricity consumption.

These include cooler temperature, higher inflation, interest rates, weaker peso and increasing adoption of rooftop solar, battery and energy storage, which adversely affected consumer spending.

“These are headwinds that potentially mean that growth in electricity may decelerate. These will impact not only demand for electricity but also demand for products and services,” Reyes noted.

Inflation has been rising since the beginning of the year, with the highest level for the year at 6.7 percent registered in September this year, the highest since February 2009. Reel-feel temperature for the first nine months of the year was lower by 0.05 degrees Centigrade, compared with the same period in 2017 while the average temperature for the period was lower by 0.39 °C. Meralco, at end-September this year, recorded 6.5 million customers.

Mass-housing group warns of project delays due to worker shortage

By VG Cabuag

@villygc

A

GROUP of socialized housing developers warned of possible project delays on the back of the growing shortage of skilled laborers in the country who opted to work overseas.

Marcelino C. Mendoza, national president of the Organization of Socialized and Economic Housing developers of the Philippines, said the Technical Education and Skills Development Authority (Tesda) should offer a training program in conjunction with housing developers and contractors.

“We should look at the model of Germany where there is emphasis on trades and apprenticeships even in high school and precollege, hence they are immediately absorbed in the labor force,” Mendoza said in a statement.

He said the difficulty in hiring of people may result in project delays, the increased asking prices and poaching of skilled workers that he said are already happening in the industry.

Wages for plumbers and steel men have already increased 25 percent, while those for welders, painters, carpenters, masons and electricians rose 22 percent.

Tesda director Angelina Carreon said most of the trainings are in the services sector like the hotel and restaurant business and only 10 percent of the number of trainees are in the construction industry.

“There is an immediate need for training individuals seeking employment for them to be qualified for the available jobs in the market,” Mendoza said.

The Duterte administration’s massive infrastructure buildup under the “Build, Build, Build” program would need 2 million additional workers through 2022.

Mendoza said compounding this problem is the mismatch between the available labor and the skills required by the construction industry.

He added skilled construction workers—such as welders, steel men, plumbers, tinsmiths—always consider jobs with 3 to 5 percent premiums overseas.

CHRISTMAS CHEER AT UPTOWN B.G.C. Megaworld Chief Operating Officer Lourdes Gutierrez and EVP and Strategy Officer Kevin Tan

grace the ceremonial switch-on of Uptown Bonifacio Global City’s Christmas lights, to signal the start of this year’s Yuletide celebration at the leading property developer’s enclave. NONIE REYES

Peco refutes Razon claim of inefficiency

C

ACHO-LED Panay Electric Co. (Peco) accused businessman Enrique Razon of feeding the public with wrong information to justify the latter’s railroading in Congress that could lead to the illegal takeover of the electric cooperative.

“We know that we are fighting a Goliath in our quest for survival of our company, but we believe that we have the Ilonggos on our side in this fight for what is just and right,” Peco, 70-percent held by the Cacho family and 30-percent held by the Lopez group, said in a statement over the weekend.

Last Thursday Razon issued a statement saying Iloilo residents have long suffered under Peco from overcharging and power interruptions.

“Four generations of Ilonggos have suffered under Peco. Neither are they heard by Peco, who has not addressed the many pending complaints—numbering 1,800— against it. Clearly, it is time the Ilonggos are relieved of their misery,” Razon said.

Razon’s MORE Electric Corp. has applied for legislative franchise to operate in Iloilo City. If awarded one, MORE Electric is seen to take over Peco, whose franhise expires in

January next year unless extended

by Congress.

“If Peco had been doing a good job, we wouldn’t have had the opportunity to apply for this franchise and transform it into a modern, efficient, low cost and state-of-the-art distribution network,” Razon said.

Complaints include poor services, overcharging of power bills with some reaching more than 1,000 percent, accumulated billings due to erroneous meter readings, technical failures, poor customer service, high electricity rates, constant power interruptions and unexplained charges.

Peco hit back, describing Razon’s statement as “exaggerated and misleading.”

Peco said there were 194 validated complaints with the Energy Regulatory Commission (ERC). Out of 64,000 customers or 0.003 percent of the total subscribers, only 25 to date are pending ERC decisions with some involving power pilferage.

As per ERC records as of 2017, Province of Siquijor Electric Cooperative Inc. charges P14.0763 and is the most expensive in the Visayas, while Peco charges only P8.2079.

There are 19 other utilities in the Visayas alone with higher rates

than Peco. The Visayan Electric Co. of Cebu charges P8.1387, which is not much less than the rate of Peco.

On reliability, Peco cited data from the ERC Distribution Management Committee. The data showed the country averages for System Average Interruption Duration Index are at 5,135.43 minutes, contrary to Razon’s claims of 54 minutes, and System Average Interruption Frequency Index are at 40.31 incidents, contrary to his figure of 2.18 incidents. This puts Iloilo City’s total Saidi of 1552.86 minutes and Saifi of 31.71 far below the national averages.

Peco’s system’s loss for 2017 was pegged at 8.37 percent or below the ERC cap of 8.5 percent.

“What the public is not seeing is the apparent disregard of the law by some legislators who rushed the approval of Razon’s mining company, Monte Oro Resources & Energy [MORE] Minerals Corp., without consultation with stakeholders, banking on false statements by some local politicians,” Peco said.

MORE’s franchise application was filed on August 22, 2018, and was approved by the House of Representatives on October 8, 2018, less than two months after its application. Lenie Lectura

CLI launches ₧12.6-billion mixed-use devts in Davao

By Roderick L. Abad

@rodrik_28

Contributor

M

ATINA, Davao City— In line with President Duterte’s massive infrastructure initiatives, property developer Cebu Landmasters Inc. (CLI) and the Villa-Abrille family unveiled on Friday their P12.6 billion worth of projects in the President’s home province and just a stone’s throw away from his residence.

Together with Davao City Mayor Sara Duterte-Carpio, the partners broke ground for the 22-hectare Davao Global Township (DGT), and later on launched the 1.9-hectare The Paragon Davao.

“Inspired by the ‘Build, Build, Build’ campaign of the national government, the infrastructure, development sector has been boldly pursuing advancements paving the way for various business districts to emerge,” Duterte-Carpio said.

“This project is our vote of trust and confidence in Cebu Landmasters.”

The Cebu-based property developer and its partner, through their joint venture YHEST Realty and Development Corp., will transform the former golf course here owned by the Villa-Abrille clan into a central business district (CBD).

“This Davao Global Township we figured is going to be a very important element in Davao City,” CLI Chairman and CEO Jose R. Soberano III said of this project. “That’s exactly the thrust of this particular project, which would like to embrace this particular endeavor of promoting ecotourism, and at the same time know the enhancement we could provide to the community.”

Phase 1 of this project covering 5 hectares will cost around P10 billion to develop fully by the end of 2022, complete with an office tower, two residential towers, retail buildings, a cineplex mall, a convention center and a public park—all yielding a gross floor area of 93,000 square meters (sq m).

“Before the summer [of next year] is the start of land development. This means the road network, the utilities, the drainage [and] the electrical system. Toward the end of next year, we will start to build structures—the first two

condos, the first office, and our retail village and park, and the civic center as part of phase 1,” CLI COO Jose Franco B. Soberano told reporters in a briefing following the groundbreaking ceremony.

The next stage of DGT is where a mall with offices for businessprocess outsourcing companies, a hotel and more residential towers will be located. The third phase covers the rest of residential projects and retail areas.

Roughly, this newest CBD in Matina will have over 20 residential towers, 10 office buildings, two hotels, a 1-hectare public park, a mall, a civic center, a hospital and a school.

The timeline for completion of Phase 1 will be in the next three to five years; Phase 2, five to 10 years; and Phase 3, 10 to 15 years.

With Matina being the densest residential area in Davao, where 70 percent of the population resides, the DGT is seen to spur economic activities while providing employment opportunities and comfort to the people.

“It should serve a new purpose of generating jobs, providing conveniences and, of course, the city is the winner because [of] the taxes [that will be] generated from here,” he said.

Since the President’s house is just outside the township’s perimeter area, the young Soberano said they really want to do it well for the city and for the country’s leader.

“The roads are all future-proof.

These are the widest roads possible.

You won’t see any aerial wires here.

All the sewage-treatment facilities will be in place. So let’s say we want this to be a BGC [Bonifacio Global City]. There are newer technologies, newer equipment that can be incorporated here,” the COO said.

Looking forward to the success of this township project, CLI and its partner is open to expand it further if the demand is strong.

“We have this land for over 100 years. We will apply all international standards to make it on a par with the rest of the world. [The] 22-hectare is not a small township.

We will acquire more lands as we can,” said Fred Yuson, president of YHEST Realty and Development Corp. and YHES Inc.

DICT chief: Selection of 3rd telco player aboveboard

H

EARING rumors that the third telco initiative was rigged and marred with corruption, the chief of the Department of Information and Communications Technology (DICT) clarified that the selection process was aboveboard and beyond reproach.

Acting Secretary Eliseo M. Rio Jr. of the information department belied allegations it favored Mislatel Consortium for it to win the third telco license during the bidding process that culminated this month.

Rio, in a lengthy, three-part social-media post that he also sent to the media, said the government did not shower any form of favor for Mislatel, which is led by President Duterte’s campaign backer and close ally Dennis A. Uy, to clinch the title as the new major telco player.

“We simply looked at documents, not the personalities. It was an exercise on objectivity.

The bidding was done in the most transparent and open manner. Despite this, the losers still impute that the process was rigged to favor Mislatel,” he said.

Mislatel—composed of Mindanao Islamic Telephone Corp., Udenna Corp., Chelsea Logistics Holdings Corp. and China Telecom Corp.

Ltd.—was named the new major player, a week after it emerged as the only compliant bidder during the auction held on November 7.

It promised to cover 84-percent of the Philippine barangays with a minimum Internet speed of 55 Mbps through a five-year P257billion capital and operation expenditures program. Lorenz S. Marasigan

B2

Companies BusinessMirror

Monday, November 26, 2018

PSE STOCK QUOTATIONS

November 23, 2018

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

ASIA UNITED 59.5 59.7 59 59.7 59 59.7 14030 833205 BDO UNIBANK 127.9 128 126 129.5 125.8 128 2257660 288363392 BANK PH ISLANDS 94.45 94.5 91.25 94.8 90.6 94.5 2841860 266114229.5 CHINABANK 27.55 27.6 27.4 27.7 27.4 27.55 93300 2569615 EAST WEST BANK 11.12 11.14 10.78 11.12 10.72 11.12 700800 7651866 METROBANK 72.05 72.1 72.45 72.95 72.1 72.1 4571710 331408789.5 PB BANK 11.1 11.2 11.2 11.2 11 11.1 57000 632400 PBCOM 17.7 21 19.42 20.1 19.42 20.1 1600 31490 PHIL NATL BANK 40.4 40.6 40.75 40.75 40.2 40.4 56200 2267705 RCBC 28.7 28.75 28.9 28.9 28.5 28.75 29400 846200 SECURITY BANK 162.7 162.8 155.4 163.6 155.4 162.8 1168500 188817529 UNION BANK 65.9 65.95 65.85 65.9 65.8 65.9 32890 2,166,180( BRIGHT KINDLE 1.5 1.58 1.58 1.58 1.58 1.58 3000 4740 BDO LEASING 2.3 2.35 2.3 2.35 2.29 2.35 41000 94460 COL FINANCIAL 15.32 15.5 15.5 15.5 15.5 15.5 100 1550 FERRONOUX HLDG 3.74 3.78 3.74 3.78 3.73 3.78 54000 201970 IREMIT 1.44 1.57 1.53 1.53 1.53 1.53 65000 99450 MANULIFE 780 835 835 835 835 835 20 16700 NTL REINSURANCE 0.78 0.79 0.76 0.79 0.75 0.79 116000 90170 PHIL STOCK EXCH 173 174.9 173.5 173.5 173 173 13490 2333820

INDUSTRIAL ALSONS CONS 1.24 1.25 1.25 1.25 1.25 1.25 7000 8750 ABOITIZ POWER 32.4 32.75 32.5 32.8 31.85 32.75 573000 18682465 BASIC ENERGY 0.249 0.25 0.25 0.255 0.244 0.249 3550000 876700 FIRST GEN 17.22 17.4 17.18 17.46 17.18 17.22 2120600 36808532 FIRST PHIL HLDG 62.35 63.5 64.2 64.2 62.3 62.35 772340 48163497.5 PHIL H2O 4.52 4.59 4.61 4.61 4.51 4.59 69000 316360 MERALCO 388.4 390 388 390 384 390 307750 119596458 MANILA WATER 25.25 25.5 25.1 25.7 25.1 25.25 231500 5869130 PETRON 8 8.01 7.86 8.06 7.85 8 2537900 20290965 PETROENERGY 3.95 4.08 4 4.1 4 4.1 32000 128200 PHINMA ENERGY 0.91 0.93 0.93 0.93 0.91 0.91 32000 29160 PHX PETROLEUM 11.3 11.48 11.12 11.6 11.12 11.3 520400 5961030 PILIPINAS SHELL 47.95 48 48.15 48.95 47.9 48 1492700 71797010 SPC POWER 5.19 5.2 5.3 5.3 5.2 5.2 1013400 5277126 VIVANT 15.6 17 17 17 16.98 17 40500 688490 AGRINURTURE 17.68 17.8 17.52 17.8 17.3 17.8 428400 7512660 CNTRL AZUCARERA 15.52 17 15 15.5 15 15.5 4900 73550 CENTURY FOOD 14.6 14.64 14.56 14.66 14.56 14.6 177400 2584238 DEL MONTE 6.54 6.7 7 7 6.5 7 4600 31570 DNL INDUS 10.4 10.56 10.44 10.56 10.4 10.4 782000 8145096 EMPERADOR 6.95 6.96 6.96 6.96 6.92 6.96 1240500 8601277 SMC FOODANDBEV 83.35 83.6 83.35 83.6 83.3 83.6 2445060 203773462.5 ALLIANCE SELECT 1.05 1.06 1.06 1.08 1.04 1.05 5321000 5595750 GINEBRA 23 23.5 22.6 23.5 22.6 23.5 21200 483630 JOLLIBEE 282.6 283 283.2 284.4 283 283 372480 105653968 MACAY HLDG 8.61 9.88 9.9 9.9 8.53 9.88 900 8228 MAXS GROUP 9.98 10 9.61 10.2 9.61 10 251900 2494268 MG HLDG 0.165 0.171 0.165 0.165 0.165 0.165 240000 39600 PEPSI COLA 1.3 1.32 1.34 1.34 1.3 1.3 434000 571550 SHAKEYS PIZZA 10.2 10.22 10.04 10.3 10.04 10.22 102200 1044836 ROXAS AND CO 1.77 1.86 1.89 1.89 1.76 1.77 982000 1761470 RFM CORP 4.72 4.74 4.72 4.75 4.72 4.75 21000 99270 ROXAS HLDG 2.75 2.8 2.8 2.8 2.8 2.8 5000 14000 UNIV ROBINA 134.8 135.3 133 135.4 132.7 135.3 404510 54596193 VITARICH 1.5 1.52 1.5 1.52 1.47 1.51 5046000 7569110 CEMEX HLDG 1.63 1.65 1.72 1.72 1.62 1.65 11767000 19524170 DAVINCI CAPITAL 5.24 5.25 5.25 5.25 5.25 5.25 25000 131250 EAGLE CEMENT 15.54 15.66 15.54 15.66 15.54 15.66 349900 5465770 EEI CORP 8.46 8.53 8.78 8.79 8.46 8.46 131100 1125729 HOLCIM 5.99 6 6.05 6.24 6 6 560800 3366013 MEGAWIDE 16.82 16.84 16.6 17.2 16.6 16.84 2575500 43404232 PHINMA 8.5 8.72 8.4 8.5 8.3 8.5 3700 31240 TKC METALS 0.78 0.82 0.83 0.83 0.78 0.82 121000 96700 VULCAN INDL 1.65 1.66 1.75 1.77 1.64 1.66 23822000 40651060 CROWN ASIA 1.37 1.4 1.4 1.4 1.36 1.36 6000 8200 LMG CHEMICALS 4.62 4.65 4.65 4.65 4.65 4.65 169000 785850 PRYCE CORP 5.1 5.35 5.1 5.1 5.1 5.1 13000 66300 CONCEPCION 36.2 36.85 36.9 36.9 36.2 36.9 300 11000 GREENERGY 1.89 1.9 1.72 1.9 1.69 1.9 33941000 61263370 INTEGRATED MICR 8.52 8.55 7.9 8.58 7.9 8.55 7310500 60670315 IONICS 1.55 1.56 1.5 1.57 1.49 1.55 628000 958320 PANASONIC 5.88 6 6.16 6.16 5.84 5.84 900 5288 SFA SEMICON 1.21 1.26 1.22 1.3 1.21 1.26 222000 276960 CIRTEK HLDG 36.3 36.6 36.35 36.35 36.3 36.3 19300 700730

HOLDING & FRIMS ABACORE CAPITAL 0.53 0.54 0.55 0.55 0.52 0.54 23837000 12809700 ASIABEST GROUP 19.82 19.84 20.45 20.45 19.62 19.82 2570500 51250615 AYALA CORP 935 939 935 942 929 939 145680 136509395 ABOITIZ EQUITY 48 48.15 48.75 48.75 48.15 48.15 309700 14937945 ALLIANCE GLOBAL 11.14 11.16 11.1 11.24 11.04 11.14 11034000 122755196 ANSCOR 6.3 6.33 6.3 6.33 6.3 6.3 40800 257058 ATN HLDG A 1.4 1.41 1.38 1.43 1.37 1.4 3440000 4839250 ATN HLDG B 1.4 1.42 1.43 1.43 1.39 1.42 409000 576260 COSCO CAPITAL 7 7.15 7 7.15 6.9 7 1464700 10376093 DMCI HLDG 12.92 13.08 12.98 13.08 12.9 13.08 3677300 47850494 FILINVEST DEV 8.85 8.95 8.5 8.98 8.5 8.95 1834300 16316483 FORUM PACIFIC 0.198 0.235 0.235 0.237 0.197 0.197 400000 93350 GT CAPITAL 877 878 875 895 874 877 124250 109153520 JG SUMMIT 47.4 47.5 47.1 47.85 47.1 47.4 1442700 68151790 LODESTAR 0.51 0.53 0.54 0.54 0.5 0.51 217000 108630 LOPEZ HLDG 3.79 3.8 3.78 3.94 3.78 3.79 14177000 53613590 LT GROUP 15.44 15.48 16 16 15.48 15.48 2167500 33876354 MABUHAY HLDG 0.58 0.59 0.55 0.62 0.55 0.58 4502000 2640080 MJC INVESTMENTS 2.81 3.47 2.78 2.78 2.59 2.59 30000 80790 METRO PAC INV 4.69 4.7 4.61 4.72 4.61 4.69 16461000 76978690 PRIME ORION 2.26 2.3 2.37 2.37 2.3 2.3 924000 2155130 PRIME MEDIA 1.15 1.19 1.15 1.15 1.15 1.15 60000 69000 SOLID GROUP 1.26 1.31 1.28 1.31 1.26 1.31 454000 575860 SYNERGY GRID 429 489.4 441 441 428 429 350 151680 SM INVESTMENTS 913.5 914 925 925 911 914 293200 268089575 SAN MIGUEL CORP 171.9 172 171.2 172.8 171.2 172 88160 15168261 SOC RESOURCES 0.72 0.78 0.72 0.72 0.72 0.72 102000 73440 TOP FRONTIER 273 280 268.2 280 268.2 280 435160 118393268 WELLEX INDUS 0.234 0.238 0.24 0.24 0.233 0.234 1140000 266380

PROPERTY ARTHALAND CORP 0.56 0.58 0.52 0.58 0.51 0.58 4589000 2624660 ANCHOR LAND 10.44 11 10.46 11 10.46 11 3000 32946 AYALA LAND 41.4 41.5 40 41.5 39.9 41.5 11888600 488044120 ARANETA PROP 1.73 1.85 1.85 1.85 1.85 1.85 5000 9250 BELLE CORP 2.17 2.18 2.16 2.23 2.16 2.18 2367000 5173310 A BROWN 0.76 0.77 0.75 0.77 0.75 0.76 218000 164940 CITYLAND DEVT 0.85 0.86 0.86 0.86 0.85 0.86 459000 391760 CROWN EQUITIES 0.215 0.218 0.218 0.218 0.213 0.218 610000 130840 CEBU HLDG 5.72 5.98 5.7 5.98 5.7 5.98 5100 29098 CEB LANDMASTERS 4.05 4.07 3.9 4.1 3.82 4.05 1049000 4128920 CENTURY PROP 0.4 0.405 0.405 0.405 0.395 0.405 2410000 959750 CYBER BAY 0.325 0.35 0.345 0.345 0.345 0.345 10000 3450 DOUBLEDRAGON 17.84 17.86 18.08 18.1 17.8 17.84 363200 6506150 DM WENCESLAO 7.55 7.56 7.56 7.59 7.51 7.56 341100 2577743 EMPIRE EAST 0.48 0.485 0.48 0.485 0.48 0.485 292000 140740 FILINVEST LAND 1.42 1.45 1.43 1.46 1.42 1.42 4422000 6331980 GLOBAL ESTATE 1 1.01 1 1.01 0.99 1 3067000 3066950 8990 HLDG 7.49 7.5 7.5 7.59 7.45 7.57 2105200 15800141 IRC PROP 2.55 2.56 2.52 2.56 2.49 2.55 9725000 24621310 MEGAWORLD 4.77 4.85 4.7 4.85 4.69 4.85 12873000 61795810 MRC ALLIED 0.365 0.37 0.38 0.385 0.365 0.365 29900000 11150350 PHIL ESTATES 0.455 0.46 0.455 0.46 0.45 0.455 3610000 1640700 PRIMEX CORP 3.59 3.62 3.6 3.62 3.59 3.62 207000 744710 ROBINSONS LAND 20.65 21.35 20.35 21.35 20.35 21.35 1008800 21142515 PHIL REALTY 0.355 0.36 0.36 0.36 0.35 0.36 660000 232700 ROCKWELL 1.94 1.95 1.94 1.95 1.93 1.95 35000 67860 SHANG PROP 3.1 3.12 3.12 3.12 3.12 3.12 101000 315120 STA LUCIA LAND 1.12 1.16 1.16 1.16 1.16 1.16 205000 237800 SM PRIME HLDG 33.55 33.6 33.25 34.2 33.1 33.6 7392700 249917200 STARMALLS 4.6 4.64 4.11 4.75 4.01 4.6 1020000 4613010 SUNTRUST HOME 0.68 0.72 0.7 0.7 0.7 0.7 10000 7000 VISTA LAND 5.34 5.37 5.3 5.38 5.29 5.37 6634100 35613744

SERVICES ABS CBN 19.4 19.42 19.3 19.5 19.3 19.42 50500 979588 GMA NETWORK 5.2 5.23 5.21 5.22 5.18 5.2 162700 845813 MANILA BULLETIN 0.335 0.35 0.335 0.345 0.335 0.345 160000 54800 MLA BRDCASTING 14.62 17.7 17.9 17.9 17.9 17.9 100 1790 GLOBE TELECOM 1950 1975 1904 1975 1904 1975 48195 94356315 PLDT 1200 1204 1208 1223 1200 1200 36875 44575740 APOLLO GLOBAL 0.037 0.039 0.039 0.039 0.039 0.039 1300000 50700 DFNN INC 7.55 7.6 8.4 8.4 7.55 7.55 63700 484235 ISLAND INFO 0.095 0.1 0.097 0.1 0.092 0.1 8730000 843690 ISM COMM 6.65 6.66 6.9 6.97 6.42 6.65 24670600 164503709 NOW CORP 3.15 3.16 3.18 3.25 3.08 3.16 3928000 12361240 TRANSPACIFIC BR 0.365 0.37 0.375 0.375 0.365 0.365 18880000 6923050 PHILWEB 2.92 2.99 2.96 3.06 2.86 2.92 442000 1287350 2GO GROUP 9.89 10 9.86 10 9.86 9.89 6400 63209 ASIAN TERMINALS 13 13.4 13.1 13.1 13 13 1500 19538 CEBU AIR 68 68.4 66.75 68.9 66.05 68 72300 4892258.5 CHELSEA 7.78 7.79 7.85 7.9 7.67 7.79 2077000 16112866 INTL CONTAINER 94.1 94.5 95 95 94.1 94.45 732780 69236853 LBC EXPRESS 13.88 14 14 14 14 14 100 1400 LORENZO SHIPPNG 0.78 0.79 0.65 0.81 0.65 0.78 591000 450610 MACROASIA 13.6 13.66 12.92 13.72 12.92 13.66 1567300 21255996 METROALLIANCE A 2.01 2.02 1.85 2.24 1.85 2.02 5748000 11818940 METROALLIANCE B 1.86 1.99 1.84 2.19 1.84 2.09 577000 1195580 PAL HLDG 7.63 7.7 7.63 7.75 7.63 7.7 40600 309951 HARBOR STAR 3.4 3.41 3.45 3.49 3.37 3.41 1427000 4883490 ACESITE HOTEL 1.38 1.45 1.38 1.46 1.38 1.46 4000 5600 DISCOVERY WORLD 2.02 2.24 2.02 2.02 2.02 2.02 2000 4040 WATERFRONT 0.5 0.51 0.49 0.51 0.49 0.51 1500000 750550 IPEOPLE 10.12 10.58 10.6 10.6 10.12 10.12 10600 107802 STI HLDG 0.63 0.65 0.63 0.66 0.62 0.63 5626000 3608010 BERJAYA 1.9 1.91 1.72 1.91 1.72 1.9 7000000 12870940 BLOOMBERRY 8.02 8.06 7.64 8.08 7.64 8.02 13222800 104750820 PACIFIC ONLINE 10.28 10.3 10.42 10.42 10.28 10.28 14900 153484 LEISURE AND RES 2.79 2.8 2.8 2.8 2.71 2.79 183000 505170 MANILA JOCKEY 5.49 5.5 5.5 5.54 5.49 5.49 7600 41736 MELCO RESORTS 7.16 7.17 7.16 7.16 7.15 7.16 2786100 19946249 PREMIUM LEISURE 0.63 0.64 0.64 0.65 0.64 0.64 8917000 5757450 TRAVELLERS 5.28 5.29 5.24 5.29 5.21 5.29 3064200 16088281 METRO RETAIL 1.99 2 2.06 2.06 1.99 1.99 3506000 7023500 PUREGOLD 43 43.05 42.5 44 42.45 43.05 2117900 91106760 ROBINSONS RTL 72.05 72.4 73 73 71.6 72.05 406340 29314893 PHIL SEVEN CORP 107 108 108 108.1 108 108 172360 18614881 SSI GROUP 2.56 2.57 2.52 2.59 2.52 2.57 2892000 7421310 WILCON DEPOT 12.12 12.14 11.92 12.2 11.9 12.12 1938300 23526228 APC GROUP 0.36 0.365 0.36 0.365 0.36 0.36 390000 140500 EASYCALL 7.87 - 5.71 7.87 5.71 7.87 1626800 11432013 GOLDEN BRIA 310 320 311 320 311 320 560 178168 IPM HLDG 7.15 7.2 7.2 7.2 7.2 7.2 2000 14400 PRMIERE HORIZON 0.32 0.33 0.32 0.335 0.305 0.32 1680000 524650 SBS PHIL CORP 6.74 6.75 6.74 6.74 6.73 6.73 104700 704717

MINING & OIL ATOK 12.88 13.44 12.78 13.54 12.7 13.44 29700 382196 APEX MINING 1.69 1.7 1.7 1.71 1.64 1.7 4812000 8058510 ABRA MINING 0.0019 0.002 0.0021 0.0021 0.0019 0.002 195000000 389400 ATLAS MINING 2.36 2.4 2.36 2.36 2.36 2.36 13000 30680 COAL ASIA HLDG 0.29 0.295 0.29 0.29 0.29 0.29 10000 2900 CENTURY PEAK 1.91 1.92 1.9 1.95 1.88 1.92 1210000 2290400 DIZON MINES 7.1 7.11 7.16 7.86 7.01 7.11 11500 82692 FERRONICKEL 1.71 1.72 1.7 1.72 1.68 1.72 328000 556030 GEOGRACE 0.2 0.202 0.201 0.205 0.201 0.202 590000 119140 LEPANTO A 0.092 0.098 0.092 0.098 0.092 0.092 700000 64570 MARCVENTURES 1.04 1.1 1.1 1.1 1.05 1.1 28000 29500 NIHAO 0.99 1.02 1.02 1.02 1 1.02 4000 4040 NICKEL ASIA 2.02 2.03 1.98 2.03 1.98 2.03 9413000 18,989,330( OMICO CORP 0.52 0.6 0.52 0.52 0.51 0.52 154000 79690 ORNTL PENINSULA 0.89 0.91 0.9 0.91 0.88 0.91 254000 228060 PX MINING 2.57 2.58 2.6 2.64 2.58 2.58 1466000 3806970 SEMIRARA MINING 25.6 25.65 25.1 25.75 24.7 25.6 600000 15236505 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.013 0.013 700000 9100 PHILODRILL 0.012 0.013 0.013 0.013 0.012 0.012 135300000 1756500 PHINMA PETRO 3.39 3.49 3.6 3.6 3.35 3.4 142000 501670 PXP ENERGY 14.58 14.6 14.8 14.98 13.68 14.58 10116700 142584332

PREFFERED HOUSE PREF A AC PREF B1 ALCO PREF B DD PREF FPH PREF C GTCAP PREF A GTCAP PREF B LR PREF SMC PREF 2C SMC PREF 2D SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

94 460 98 97 480 890 894 1 76.2 71.4 74 72.9 72.3 73.45

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.1 5.1

1.66

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.2 MAKATI FINANCE 2.67 XURPAS 1.09

109.1

178870 49860025 13810780 4406530 -46531088 -0 2149355 9408990 -2838893 -2754880 -36017390 -1201070 8282336 1003940 -25196410 105100 -179078795 -1312300 -5428 182349.9999 238329915 -4427460 94220 -1285200 -60500 -436970 -3679030 -232031 -430780 47526960 -128500 -208800 9268615 19400 15249410 9180 14732641 7583070 2187835 49500 5770587 -307770 -119450 19404 2874325 7167965 -30560 555696 -63470 -1128210 76250 2170940 126460 38979 -4039900 -5463556 578020.0003 -56846795 -1740429 327240 110509.9999 18309564 21600 12748 640023 346600 -2360 -27040 8,936,930.0001) 4420 -1048330 2102680 -6310442

96 462 98 97.6 480 947.5 925 1 76.5 73 74.6 73.3 72.25 73.5

96 462 98 97.6 480 947.5 940 1 76.6 73 74.9 74 74 73.5

95 462 98 95.5 480 947.5 925 1 76.5 73 74 73 72.2 73.5

95 462 98 97.4 480 947.5 940 1 76.6 73 74.9 73 74 73.5

430 300 2000 14130 100 30 400 145000 10210 1402000 107500 37570 10200 702250

40860 138600 196000 1361540 48000 28425 370150 145000 781559 102346000 7962890 2747958 740500 51615375

-

19.5 5.18

19.5 5.17

19.5 5.17

19.5 5.15

19.5 5.17

200 18900

3900 97353

92700

1.72

1.65

1.74

1.59

1.72

53000

89610

-

4.25 2.77 1.1

4.09 2.84 1.08

4.24 2.84 1.13

4.09 2.67 1.04

4.24 2.67 1.1

258000 13000 4785000

1077860 35220 5195270

3980 -931450

EXHANGE TRADE FUNDS FIRST METRO ETF

51955 290220 -14411650 -12647509 25419786 -412610 -1265063 -3011000 -8951340 -680000 -1206138 266042 -4862326 -464393 148322934.5 61680 111720 6603638 1571 -857146.9998 -536890 4015.9999 -4720 10167029 746050 -6208220 5195278 34220 -3346213 -30907220 402510 -15300 -4831210 5271818 -314220 -

95 470 98.95 97.9 500 947.5 925 1.03 76.6 73 74.9 73 74 73.5

WARRANTS LR WARRANT

823090 2140037 159075396 55100 527642 42177307 -442000 -2162315 55538030 1,613,993.4997) 31600 -

109.5

108.2

109.5

107.7

109.5

8970

976915

-178676

Editor: Efleda P. Campos

Uniwide sues former finance execs for ‘estafa’

By Roderick L. Abad

T

Contributor

@rodrik_28

HE Uniwide Group has filed estafa charges against its two former top finance officers, three former Securities and Exchange Commission (SEC) receivers, the Land Bank of the Philippines (LandBank) and former officials of the bank for allegedly conspiring to defraud Uniwide and its owners P2.78 billion worth of assets through false pretense and fraudulent acts.

Named as respondents by the Uniwide Group in the case filed before the Office of the Quezon City Prosecutor were Jaime Cabangis, former chief finance officer of Uniwide; Corazon Rey, former Uniwide comptroller; lawyer Monico Jacob, Cornelio Peralta and Arthur Aguilar, all members of the SEC-appointed Interim Receivership Committee (IRC) that handled the supposed rehabilitation of Uniwide; LandBank and its officers Roberto de Ocampo, Margarito Teves and Peter Eymard Tamayo.

Uniwide President Dr. Jesus L. Arranza said in his affidavit-complaint, “In 2016, through a thorough review of the record of the case with the SEC, I discovered that respondents Cabangis, Rey, Aguilar, Jacob, Peralta, LBP and LBP officers conspired to defraud the Uniwide Group of Companies. Such fraudulent acts were manifested by the posting of collaterals that have excessive worth as against the loan amount supposed to be secured by mortgage and pledge, and the apparent rigged and manipulated

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices continued its upswing last week, with the main index returning to the 7,300-point level, as trading volume starts to pick up.

The benchmark Philippine Stock Exchange index (PSEi) gained 256.84 points to close at 7,340.18 points.

“We saw a pickup in trading volume. Foreign fund flows were distorted this week because of a block sale worth P9.4 billion, but overall, foreign investors were netbuyers which is a very good sign,” said Christopher Mangun, research head at Eagle Equities Inc. The main index was up almost all week, except on Wednesday when it slightly fell.

Average value turnover hit an average of P6 billion, while foreign investors were net buyers at P9.8 billion.

Except for the Mining and Oil index that fell more than 6 percent or 575.16 points to close at 8,372.96 points, all other subindices ended on the green. The broader All Shares index gained 98.71 points to 4,409.23 points; the Financials index rose 77.35 to 1,739.19; the Industrial index was up 110.79 to 10,783.64; the Holding Firms index increased 235.3 to 7,149.59; the Property index soared 147.69 to 3,574.16; and the Services index added 17.29 to 1,398.47.

Gainers led losers 119 to 99 and 25 shares were unchanged.

Top gainers were Metro Alliance Holdings and Equities Corp. A and B shares, Easycall Communications Philippines Inc., Filinvest Development Corp., BHI Holdings Inc., Liberty Flour Mills Inc. and Greenergy Holdings Inc. Top losers were Synergy Grid and Development Phils. Inc., PXP Energy Corp., Cemex Holdings Philippines Inc., Discovery World Corp., Phinma Petroleum and Geothermal Inc. and ISM Communications Corp.

THIS WEEK

SHARE prices may continue its gain this week, as companies may also do their month-end window dressing activities.

It will be a four-day work week as Friday is a public holiday for the celebration of Bonifacio Day. “Given the market’s commendable ascent during the week, the PSEi will test trouncing past 7,430 to get to 7,500 to 7,700,” online broker 2TradeAsia said.

“It is unlikely for ‘hiccups’ not to be encountered along this route, as skeptics might seize on any strength to minimize their equities holdings. Nonetheless, there are a lot of stocks that have come off at very good bargains, and this ‘sale window’ should see its attractiveness shine over time,” it added.

Mangun said the decreasing oil prices means lower inflation coupled with an appreciating currency will bring investors back into this market and push the index higher. He expected the market to trade sideways this week due to gains last week.

“The only concern is the heavy outflow of foreign funds this year. However, with the Western market starting to correct after hitting historic highs this year, there is a possibility that we may start seeing foreign money flow back into our market which will fuel the rally,” he said.

STOCK PICKS

SHARES of Alliance Global Group Inc. sustained its buying momentum last week, but broker Regina Capital and Development Corp. advised investors to sell during rallies.

“Profit taking may occur as the stock nears its historical resistance at P11.50. Take caution as AGI has been highly volatile,” the broker said.

AGI closed on Friday at P11.14 per share.

The broker also recommended to take profits on JG Summit Holdings Inc. after its share price bounced back from its bottom at P42.10 and rallied toward its strong resistance at P48. Its technical indicators show little price movement and represent consolidation just below the resistance level.

JG Summit shares closed last week at P47.40 apiece. VG Cabuag

dacion en pago involved in the rehabilitation proceedings. I have discussed the matter with Mr. [Jimmy] Gow, who thereafter realized that he was actually defrauded by the herein respondents as the then President of the Uniwide Group.”

The alleged false pretense and fraudulent acts began when Cabangis reportedly induced Gow to sign numerous agreements with LandBank and other banks for the use of Uniwide’s properties and shares of stocks as collateral for existing and new loans after the Asian Financial Crisis hit the Philippines in 1997.

This was just months after Uniwide secured P4.3 billion in fresh funding from the initial public offering of Uniwide Holdings Inc. (UHI) in

August 1996.

To cover Uniwide’s P588-million loan with LandBank, Cabangis used as collateral several properties owned by Uniwide and Gow cumulatively worth about P985.86 million and 359,575,096 shares of UHI stocks worth P1.78 billion.

Gow said the combined value of the properties and the UHI stocks was way too much compared to Uniwide’s debts with LandBank.

In fact, he said the P1.78 billion worth of UHI shares alone was already more than enough to cover the P580-million LandBank loans.

He also said the properties assigned to LandBank were grossly undervalued in the dacion en pago agreements.

brief

C.A. PROHIBITS GLOBAL GAMING FROM SELLING SHARES IN BLOOMBERRY

THE Court of Appeals has upheld the order issued by the regional trial court in Makati City maintaining the writ of preliminary injunction it issued in November 2017 prohibiting casino management service provider Global Gaming Philippines Llc. (GGAM) from selling its 921.18 million shares in Bloomberry Resorts Corp.

Bloomberry Resorts is the parent company of Bloomberry Resorts and Hotels Inc. (BRHI), the owners and operators of Solaire Resort & Casino.

In its November 2017 order, the RTC in Makati City upheld the continuing validity of its decision restraining GGAM, the Philippine Stocks Exchange and other entities from “disposing of, or facilitating, allowing, implementing and completing the sale or transfer of GGAM shares in Bloomberry during the pendency of the arbitration proceedings in Singapore.” Joel R. San Juan

MUTUAL FUNDS

November 23, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 245.41 -13.62% 0.32% 1.56% -16.3% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3478 -14.46% 3.45% 2.03% -15.59% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8007 -14.37% 0.44% 0.27% -17.24% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8758 -13.61% N.A. N.A. -13.88% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8098 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.1118 -12.56% -1.49% 1.12% -14.99% MBG EQUITY INVESTMENT FUND, INC. * ****** 110.64 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8164 -15.57% N.A. N.A. -17.76% PAMI EQUITY INDEX FUND, INC.* 48.0185 -12.13% 1.02% N.A. -14.85% PHILAM STRATEGIC GROWTH FUND, INC.* 501.28 -12.34% -0.3% 0.84% -14.81% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2294 -10.42% 1.54% N.A. -12.45% PHILEQUITY FUND, INC.* 35.8143 -10.59% 1.96% 3.76% -12.85% PHILEQUITY PSE INDEX FUND INC.* 4.8312 -11.89% 1.62% 3.45% -14.86% PHILIPPINE STOCK INDEX FUND CORP.* 806.81 -11.74% 1.4% 3.44% -14.69% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8374 -11.16% -0.87% N.A. -13.41% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9904 -10.21% 1.51% 1.93% -12.88% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9298 -12.05% 1.43% N.A. -14.95% UNITED FUND, INC.* 3.415 -9.09% 2.67% 2.34% -12.31% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** ● 107.8152 -11.4% 2.56% N.A. -14.4% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9446 -16.55% 1.81% -0.71% -14.77% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1694 -6.19% N.A. N.A. -7.57% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6331 -10.16% -1.98% -1.58% -12.36% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1739 -9.62% 0.14% 0.42% -11.52% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4744 -9.17% -3.09% -1.94% -10.67% GREPALIFE BALANCED FUND CORPORATION* **** 1.2878 -10% N.A. N.A. -11.49% NCM MUTUAL FUND OF THE PHILS., INC* 1.8182 -6.39% 0.62% 1.22% -8.75% PAMI HORIZON FUND, INC.* 3.4645 -9.63% -0.88% 0.24% -11.58% PHILAM FUND, INC.* 15.6269 -9.25% -0.72% 0.2% -11% SOLIDARITAS FUND, INC.* ******** 2.0328 -7.76% 0.81% 2.1% -9.33% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6062 -7.91% 0.21% 0.6% -9.76% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9185 -7.77% -0.28% N.A. -9.98% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03478 -3.87% -0.63% 1.35% -3.66% PAMI ASIA BALANCED FUND, INC.* $0.934 -11.82% 1.68% -1.67% -10.79% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4322 -4.87% 2.89% 1.78% -6.03% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0265 -7.15% N.A. N.A. -7.71% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342.41 1.9% 2.01% 1.67% 1.57% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8438 -2.93% -0.97% -0.8% -2.56% COCOLIFE FIXED INCOME FUND, INC.* 2.9552 5.46% 5.35% 5.24% 4.72% EKKLESIA MUTUAL FUND INC.* 2.1251 1.34% 1.45% 1.08% 1.09% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2047 - 0.36% -0.03% 0.15% -0.52% GREPALIFE FIXED INCOME FUND CORP.* P 1.5623 -3.15% -0.54% -1.62% -2.93% PHILAM BOND FUND, INC.* 3.8833 -3.95% -0.79% -0.83% -4.12% PHILEQUITY PESO BOND FUND, INC.* 3.4803 -0.38% 0.23% -0.16% -0.7% SOLDIVO BOND FUND, INC. * 0.8871 -3.58% -1.07% N.A. -3.91% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7558 -0.78% 0.81% 0.14% -0.76% SUN LIFE PROSPERITY GS FUND, INC.* 1.5292 -1.45% 0.33% -0.3% -1.32% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $446.72 0.31% 2.26% 3.02% 0.17% ALFM EURO BOND FUND, INC. * Є212.33 -0.51% 0.95% 1.5% -0.65% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1223 -1.13% 0.81% 1.82% -1.04% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 - 0.8% 0.68% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.687 -5.06% -0.52% 1.09% -4.77% 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* $1.0239 -5.17% -0.66% -2.67% -4.62% PHILAM DOLLAR BOND FUND, INC.* $2.1357 -4.93% 0.29% 2.4% -5.12% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568975 -1.01% 0.85% 1.81% -0.53% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8686 -4.93% 0.45% 1.68% -4.79% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.31 2.6% 1.75% 1.49% 2.3% PHILAM MANAGED INCOME FUND, INC.* 1.1773 1.82% 0.46% 0.43% 1.72% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2144 2.53% 2.21% 1.49% 2.44% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0142 1.52% N.A. N.A. 1.55%

* - 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

B4 Monday, November 26, 2018

Local entrepreneurial start-ups receive grants at Singtel Group Future Makers 2018

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HILIPPINE startups Bagosphere and The Spark Project have joined eight other regional social-impact startups that have successfully pitched for grants totaling $100,000 at the Singtel Group Future Makers 2018.

The program is run by Singtel of Singapore, Optus of Australia and regional associates Globe Telecom (Philippines), AIS (Thailand) and Telkomsel (Indonesia), and is open to passionate individuals and social ventures that believe in technological innovation as key role in making wide-scale social impact.

It helps build and support an ecosystem of change agents, innovation, capacity building and collaboration intended to help transform the lives of the needy and the vulnerable in the community, as well as offers community engagements, mentorship and funding support for social entrepreneurs.

“We are grateful to be part of the Future Makers program. Together with Globe, we were able to experiment with different initiatives to bring our impact to [the] youth in the countryside.

It has been enjoyable working with the Globe Team, [which] is proactive in reaching out when there are opportunities that could benefit Bagosphere and, at the same time, provides us with the expertise support in areas that we do not have the resources for,” said Ellwyn Tan, head of business and cofounder of Bagosphere.

Bagosphere is an award-winning end-toend- and upskill-training provider supporting thousands of frontline workers to achieve better lives. Focusing on soft and digital skills, Bagosphere runs immersive, experiential training programs and connects learners directly with employers. Currently, it pipelines talents to some of the world’s top outsourcing companies and has, so far, over 1,100 graduates, of which 85 percent have been hired.

On the other hand, said Patrick Dulay,

founder and chief operating officer of The Spark Project, “Being part of the Future Makers Program has given us direct access to mentors and business resources we usually wouldn’t have access to.

Being able to work closely with Globe helped us grow our business and scale our impact. Having the opportunity to learn, network and pitch in front of impact investors during the Impact Investment Summit this year was an experience we can never forget.”

The Spark Project is a crowdfunding web site and community that helps entrepreneurs and changemakers launch their creatively conscious ventures to the market. As a pioneer in the local crowdfunding scene, The Spark Project is dedicated to enabling Filipino creativity and innovation through its web site and various community events, and has raised over 6.5 million pesos for over 70 projects.

“A lot of innovations in the Philippines are coming from the private sector. Given this landscape, we felt we had to do our share in terms of providing more opportunities for social entrepreneurs. We support Future Makers because this allows us to build an ecosystem of innovators, entrepreneurs and investors for social good. It is a wonderful breeding ground to use technology for scale and social impact over just profit,” said Yoly Crisanto, Globe chief sustainability officer. “There are so many talented Filipinos who have big ideas but are lacking in resources and key metrics to make their business sustainable. With the Future Makers program, we have a viable platform to test scalability and repeatability in various regional markets.”

Other social startups which made it to the top 10 are VT Thai (Thai handicraft community online marketplace), XCLR8 (affordable physiotherapy treatment anywhere and anytime), AEVice

Health (early medical intervention and greater accuracy in asthma diagnosis), Commsync (wearable and nonwearable devices to prevent domestic violence), Habibi Garden (IoT for precision agriculture), ImmCal (automation of complex immunization schedules), Local Alike (self-sufficient community-based tourism) and Squline (online language-learning platform).

Said Andrew Buay, Singtel vice president for group sustainability, “We believe technology has the power to enrich lives and empower everyone.

The Future Makers program reflects this conviction and leverages the best of our regional partners to nurture innovators [and] create greater social impact. We are glad to see the program extending its reach further each year, and the wide range of issues startups are tackling with the help of technology. The judging panel was very pleased with the quality of ideas from the 10 teams, which have the most potential to go to the next level and scale regionally.”

Now on its third year, the Future Makers program has attracted over 3,000 applicants from five countries, with 48 selected startups securing more than $1 million in funding and support after participating in rigorous capacity building and mentorship workshops for four months. The group’s team of experts and external partners from the social and private sectors volunteered their time and skills to advise them on their technology solutions and business models.

Besides gaining valuable working knowledge and coaching, the startups had the opportunity to network with the group’s experts and partners. Ten teams from the local programs were then chosen for the regional finals where they had the opportunity to pitch to a panel of global impact investors to win an additional $100,000 in funding from Singtel.

WRITE RIGHT FOR POSITIVE RESULTS

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N 2016 Ph i l ippi nes ranked 13th on the list of t he best nonnat ive English speakers in the world.

However, based on the British Counci ls’ Inter nationa l E n g l i s h L a n g u a ge Te s t i n g System (IELTS), there is still a massive need to work on t he w ay Fi l ipi nos e x pre s s t hemselves on paper. Poor w r it i n g s k i l l s c a n t a k e a toll in all forms of business transactions, which requires written communication. To enhance one’s writing skills, the Center for Globa l Best Pract ices (CGBP) w i l l host a one - d ay t r a i n i ng , t it le d “ Wr it e R i g ht f o r Po s it i v e Results: Best Practices Guide to One-Page Business Letters, Memos and Reports” to be held on November 29 at Marriott Hotel.

Accountants attending to this training will earn CPD credit units. Visit www.cgbp. org for details and a complete list of Best Practices programs.

Ex pand your business writing skills by learning and relearning the fundamentals of an outstanding business paper. Master the golden rule of business writing with proper e-mail etiquette. This course will use classic examples of different businesses that you must learn from.

This program will feature Prof. Lucr is Car ina A g nirParaan, PhD, course director at t he CGBP. She f i n ished her doctorate degree, major i n Eng l i sh St ud ies, at t he University of the Philippines (UP) Diliman, where she was aw a rd e d t he O ut s t a nd i n g Dissertation of the College of Arts and Letters. She earned her Master of Arts in Language and Literature degree at UP Baguio, where she graduated with a 1.007 GPA. Her Bachelor of Arts in Philosophy degree was also earned at UP Diliman.

She conducts regular public and in-house English refresher workshops and seminars on

business communication a nd v e r b a l s k i l l s . A mo n g her recent c l ients a re 3M, Aboitiz, American Peace Corps, A me r ic a n E m b a s s y, A n f lo Management and Investment Cor p., Chev rolet, Coke, Japan Tobacco Inc., Lifebank, Medicard, PJ Lhuillier, Savant Technologies, UCPB Gen and the offices under the executive secretary in Malacañang.

This writing masterclass is open to the general public and is highly recommended for everyone. Public officials and gover nment employees attending training programs like this are exempted from the P2,000 limit set by the Commission on Audit, based on the Department of Budget and Management Circular 563 dated April 22, 2016.

Interested participants are encouraged to avail themselves of the group discounts for three or more registrants. Seats are limited and prereg istration is required.

Sports BusinessMirror

BELGIUM’S Thomas Detry (left) and Thomas Pieters pose with the winners’ trophy. AP

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| Monday, November 26, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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PHIL BEATS TIGER P

By Joe Reedy

The Associated Press

HIL MICKELSON beat Tiger Woods in overtime on Friday in their $9-million pay-per-view match in Las Vegas that ended up free for many viewers because of technical problems.

Mickelson won on the 22nd hole, making a 4-foot birdie putt on a specially set up 93-yard, par 3. The match at Shadow Creek Golf Club finished under floodlights.

Mickelson said to Woods after the match: “Just know I will never let you live that down. It’s not the Masters or the US Open, but it is nice to have a little something on you.”

Woods said he enjoyed the match, even if he was on the losing end.

“You couldn’t have made this event any better than it was,” he said. “It was back and forth and very competitive on a golf course that was playing on the tricky side.”

The match made for some compelling golf at times, if only most people would have been able to see it. Technical difficulties marred the event, which was billed as golf’s first pay-per-view broadcast.

Some viewers unable to view it on their televisions after paying $19.95. Turner and Bleacher Report representatives sent out links on social media allowing people to view it for free on their computers and mobile devices.

There were over 500 people on hold online waiting for assistance during one point.

“We experienced some technical issues on B/R Live that temporarily impacted user access to The Match. We’ve taken a number of steps to resolve the matter, with our main priority being the delivery of content to those that have purchased the PPV event,” Turner spokesman Tareia Williams said in an e-mailed statement.

Only 700 invited guests were allowed to watch the event at Shadow Creek. The match was billed as a chance for viewers to watch an untraditional golf broadcast as both golfers and their caddies were mic’d up. It also featured live odds from MGM resorts and a drone was used for live shots.

There was some banter between Woods and Mickelson early on but not much as the stakes increased.

Mickelson said on the 15th hole to Woods that “I’m trying to be more talkative but I’m not on this back nine.”

Woods understood and responded that they were going back to their old mode of “trying to beat each

other’s brains in.”

The most revealing moment on the front nine happened after Woods missed a 4-foot, short par putt on the second hole to give Mickelson an early advantage.

“I was half a second from giving him that putt because he always makes those,” Mickelson said to his brother, Tim, who was his caddie.

Mickelson was 1 up through the front nine before Woods seized the lead with birdies on the par-4 11th and 12th holes. Mickelson then squared it with a birdie on the par-3 13th and retook the lead when Woods bogeyed the par-4 15th.

Woods tied it with birdie from the fringe of the green on the par-3 17th. Both birdied the par-5 18th and then parred the first playoff hole before it went to the par-3 extra hole—which was pitch shots off the practice putting green—that they kept playing until there was a winner.

After he birdied the 17th, Woods said to caddie Joe LaCava “just like old times, buddy.”

Mickelson also said it was like old times for him against Woods after that trademark shot.

“You’ve been doing that to me for 20 years, I don’t know why I am surprised now,” he said.

Mickelson also had the advantage in challenge bets. Woods won the first challenge for $200,000 when Mickelson didn’t birdie the first hole. Mickelson though won the next three, which were closest-to-the-pin challenges on par-3 holes, which totaled $600,000.

Both said they couldn’t see challenge bets become a part of regular Professional Golfers’ Association Tour events.

“Maybe at match play you could but that might not be the best thing,” Mickelson said. “I think it added to the competition. It had that flavor of a Tuesday practice round with more at stake.”

BELGIANS TOP WORLD CUP

PHIL MICKELSON and Tiger Woods embrace after the untraditional golf duel. AP

ELBOURNE, Australia— Thomas Pieters and Thomas Detry of Belgium lifted the World Cup of Golf trophy on Sunday. They may have won it on Friday.

The Belgians had a few anxious moments on the back nine on Sunday but held on to shoot a fourunder 68 and claim a three-stroke win, despite a determined late run

by Australia and Mexico.

The sunny skies and lack of wind on Sunday was a far cry from Friday, when driving rain and gusty winds meant there were more scores in the 80s than in the 60s.

Belgium shot 71 on Friday, tied for the low score of the day and one of only four scores under par, and shared the lead going into the third round. Many golfers said the Friday conditions were the worst they had ever played in.

Pieters and Detry shot 63 in muchimproved weather on Saturday in the fourballs (best ball) and took a five-stroke lead into the final round of foursomes at Metropolitan.

From there, it was a case of hanging on for the $1.12 million in prize money they each received.

“It was a long back nine” Pieters said while surrounded by family, friends and fans, some with Belgian flags stuck on their heads, just off the 18th green.

Australia’s Marc Leishman and Cameron Smith pulled to within two strokes late in the round, thanks to holing out from the bunker for a birdie by Smith and a 12-foot par save on the next hole by Leishman.

“Belgium was clearly the best team all week,” Leishman said.

“When you come up against someone like that, we did what we had to do to put the pressure on and they were just too good.”

If there was any doubt, Pieters’s approach to 4 feet on the 18th set up a final birdie by Detry to give the Belgians a 23-under total of 265.

“We were both nervous at times, but to finish with a birdie was special,” said Pieters.

Leishman and Smith shot 65.

Mexico’s Abraham Ancer, who won last week’s Australian Open, and his partner Roberto Diaz, playing in the last group with Belgium, shot 66 and also pulled to within two strokes of the lead but finished tied with the Australians for second.

Defending champions Thorbjorn Olesen and Soren Kjeldsen of Denmark shot a 65 to finish tied for fourth with Canada’s Adam Hadwin and Nick Taylor, who shot 66. They were six strokes behind.

Americans Matt Kuchar and Kyle Stanley shot a final-round 68 and finished at nine-under, 14 strokes behind the winners and tied for 16th among the 28 teams.

Pieters is from Antwerp and Detry from Brussels. Pieters says news of their win will likely “go very under the radar” in both cities. But he has hope for the future for golf in his soccer-dominated country.

“Hopefully it will make the news, but it’s different in Belgium,” Pieters said. “Golf is very different than Australia or the US. It will get in the media and they’ll see us cool guys...” AP

Els expects Woods as playing captain at Presidents Cup

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GEOFF OGILVY (left) and Ernie Els (center), with the moderator, attend a press conference during the final round of the World Cup at the Metropolitan Golf Club in Melbourne. AP

ELBOURNE, Australia—Ernie Els expects Tiger Woods will be a US playing captain when the two lead their teams at the Presidents Cup next December at Royal Melbourne.

“I think so, the way he’s playing,” Els said on Sunday during a media conference during the final round of the World Cup at Metropolitan. “I’m not sure what kind of points system they use for their team, but I think there’s a big chance. The way he’s going, it looks like he’s going to be in contention a lot this year.”

At the media conference, International team captain Els announced that Geoff Ogilvy will be one of his captain’s assistants at the Royal Melbourne tournament from December 9 to 15, 2019.

Ogilvy announced in May that he would be moving his family from Scottsdale, Arizona, back to Australia later this year and would likely have a reduced playing schedule. He owns a home on the 14th hole of the West Course at Royal Melbourne.

“Playing in the Presidents Cup is a highlight of my career,” Ogilvy said. “It is a special week to share the team room and the unique atmosphere with the players of the International team.”

Ogilvy was also an assistant to captain Nick Price for the 2017 Presidents Cup. He also played on three consecutive International teams from 2007-11.

Els, who said there could be as many as 10 or 11 countries represented by players on his team, said he would announce two more captain’s assistants early next year.

“He’s a natural fit to be one of the assistant captains,” Els said of Ogily. “He was my first choice—being a local man from Melbourne, knowing the sandbelt very well. I couldn’t have a better guy and I’m very excited for him to be one of my assistant captains.”

Els said the International team will be able to take advantage of several changes announced since the last Presidents Cup two years, including four captain’s picks in

addition to the eight players who earn their way on to the team via a points system; the host team’s choice at whether alternate-shot foursomes or best-ball fourballs are played first on each of the first two days, and the hosts ability to tweak the course to its advantage.

“We’ve got the automatic selection down to eight, we’ve got a home-course advantage and we can start with the format we want...all in all, I feel we have a very different lead up already,” Els said.

It will be the third time the sandbelt course in southeast Melbourne has hosted the tournament. Woods is scheduled to be in Melbourne in early December for a scouting mission at Royal Melbourne.

The International team had its only win in 12 events at Royal Melbourne in 1998, when Els picked up 3 1/2 points for the Internationals. The 2003 tournament in South Africa was tied, but the US has won every other Presidents Cup. Later Sunday, Els was expected to unveil a new logo for the International team at a reception at Royal Melbourne. AP

Spo

Business

C2 Monday, November 26, 2018

ITF president says Davis Cup, ATP Cup could ‘work together’

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ILLE, France—International Tennis Federation (ITF) President David Haggerty is confident he can find a deal with the Association of Tennis Professionals (ATP) to make sure their two team competitions do not clash on an already busy calendar.

Speaking in France at the final of the last Davis Cup played in its traditional format, Haggerty said he had “very positive” conversations with tennis stakeholders last week after the men’s tennis tour announced the debut of the ATP Cup for January 2020, six weeks after the Davis Cup final.

The announcement of the 24-team ATP Cup came after the International Tennis Federation, backed by investment group Kosmos, adopted a reform of the Davis Cup format.

Haggerty said he had discussions with representatives from Kosmos—which was founded by Barcelona and Spain soccer player Gerard Pique—the Grand Slam tournaments and the ATP as well as players.

“The challenge is the calendar, because it’s a very

busy schedule,” Haggerty said. “There is a concern that tennis has for the health of the players, and the good of the sport. We had very fruitful discussions about is there a way that we can collaborate together with one event as opposed to having a couple of events? It might not happen right away, but it’s something that could happen down the road.”

Haggerty added that a merger between the Davis Cup and the ATP Cup would not happen in the near future but “there is a real sense that we could work together.”

A third annual team competition, the Laver Cup, was launched in 2017 and pits European players against a World team in September.

For now, Haggerty is focusing on the new Davis Cup format. Beginning next year, the top team event in men’s tennis will be decided with a season-ending, 18-team tournament at a neutral site. The International Tennis Federation believes this format will be more attractive to elite players who often pass on competing for their countries because of a crowded schedule. AP

FRENCH STAY ALIVE FRANCE’S Nicolas Mahut (right) and Pierre Hughes Herbert return the ball to Croatia during their doubles match on Saturday. AP

Bach, Abe visit Fukushima F UKUSHIMA, Japan—International Olympic Committee President Thomas Bach and Japanese Prime Minister Shinzo Abe made a quick trip on Saturday to the region northeast of Tokyo that was devastated by a 2011 earthquake and tsunami that destroyed three nuclear reactors.

The Fukushima region will hold baseball and softball games during the 2020 Tokyo Olympics.

The visit was intended to showcase a region that government officials say is safe, except for a no-go zone around the nuclear plant. Environmental groups have disputed some government claims and have raised safety concerns.

Neither Abe nor Bach took questions after

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ILLE, France—Suddenly realizing he was listening to France’s national anthem for maybe the last time in his Davis Cup captain role, Yannick Noah could not hold back tears.

Standing next to his players during “La Marseillaise,” Noah was emotional before Nicolas Mahut and Pierre-Hugues Herbert took on Croatia’s Ivan Dodig and Mate Pavic in the doubles of the final on Saturday.

“It’s the first time it happens to me. I told myself it’s perhaps the last time I’m singing it,” said Noah, who will be replaced at the helm of the team by Amelie Mauresmo after this weekend.

The former French Open winner will have another occasion to sing and cry on Sunday after Mahut and Herbert put a smile back on French faces with a 6-4, 6-4, 3-6, 7-6 (3) win to keep alive slim French hopes.

France cut Croatia’s lead to 2-1. Croatia still

visiting a baseball stadium and meeting with local residents and athletes. Bach also visited a local badminton facility and talked with Fukushima Gov. Masao Uchibori.

Government officials want the Olympics to convince a world audience that the region is safe.

Bach is in Japan for a week of meetings with Tokyo Olympic organizers and national Olympic officials for about 200 countries. AP INTERNATIONAL Olympic Committee President Thomas Bach (center) and Japanese Prime Minister Shinzo Abe meet local children at a baseball stadium in Fukushima. AP

DURANT, WARRIORS WIN IN WILD FINISH O

AKLAND, California—Klay Thompson will be thrilled with the winning shot any way it comes.

Kevin Durant will gladly accept that a jump ball he tipped away against Willie Cauley-Stein in the waning moments meant nearly as much as all those jumpers and free throws he hit in a sensational scoring performance.

Thompson put back his own miss with five seconds left, Durant scored a season-high 44 points, and the Golden State Warriors barely held off the Sacramento Kings, 117-116, on Saturday night in a wild finish between the Northern California neighbors.

“I don’t know if I got fouled, but who cares I got the putback,” Thompson said. “You’ll take a game-winner any way you can get it I don’t care how ugly it is.”

Durant tipped a jump ball to the backcourt just before the buzzer sounded, but a replay review was held to determine whether the Kings had called time-out—which was granted with 0.3 seconds on the clock.

The Warriors subsequently called their own, and the Kings failed to get a shot.

“I just tried to tip it as far away from their basket as possible,” Durant said.

Durant converted two free throws with 1:27 left and also had 13 rebounds and seven assists, while Thompson wound up with 31 points—the second straight night the two each scored 30 or more.

Buddy Hield had 28 points on 12-for-21 shooting and seven rebounds. Rookie Marvin Bagley III contributed 20 points and a seasonbest 17 rebounds off the bench, but missed the first of two free throws with 1:08 remaining.

“That was a very good basketball game to watch, to be a part of. I thought we competed our tails off,” Kings Coach Dave Joerger said.

Thompson shot 12 of 26 with five threepointers as Splash Brother Stephen Curry missed his ninth straight game because of a strained left groin. Fellow All-Star Draymond Green is still

nursing a sprained right toe.

Durant’s three-pointer with 6:22 left got Golden State within 108-105, then he converted a tying three-point play the next time down before Quinn Cook’s go-ahead three the following possession.

Durant had 16 in the second quarter, making all eight of his free throws. He finished with a seasonhigh 16 free throws on 17 attempts. The two-time reigning National Basketball Association Finals Most Valuable Player also committed seven of the Warriors’ 14 turnovers. AP THE Warriors’ Kevin Durant shoots over the Kings’ Buddy Hield. AP

NBA RESULTS Cleveland 117, Houston 108 Denver 105, Oklahoma City 98 Minnesota 111, Chicago 96 Washington 124, New Orleans 114 Dallas 113, Boston 104 Golden State 117, Sacramento 116 Milwaukee 135, San Antonio 129

RUSSIAN COURT CHALLENGES I.O.C.

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OSCOW—With a pair of gold medals at stake, a Russian court has issued a ruling that directly challenges the authority of the International Olympic Committee (IOC) and the Court of Arbitration for Sport (CAS).

The Moscow City Court ruled on Wednesday that bobsledder Alexander Zubkov, who carried the Russian flag at the opening ceremony of the 2014 Sochi Games, should still be considered an Olympic champion despite having been stripped of his medals because of doping. A CAS ruling

remains favorite to claim one more point to dethrone the defending champions.

“We still have two more matches to win, we want to win the Davis Cup,” Mahut said. “Our players can do it tomorrow. They had a tough day yesterday but maybe with this win everything can change.”

Chasing an 11th title, France is back in the final but still faces a big challenge. The singles players were out of their depth on Friday, casting serious doubt on the chances of a comeback in Sunday’s reverse singles.

Marin Cilic is set to face Jeremy Chardy, then Borna Coric plays Jo-Wilfried Tsonga if needed, although captains can change their lineups.

No team has overturned a 2-0 deficit in a final since Australia beat the United States in 1939.

“After what happened yesterday of course we are confident,” Croatia captain Zeljko Krajan said.

“Marin and Borna are going to be ready. Hopefully quality will prevail in the end.”

On the indoor clay court at Pierre Mauroy Stadium in northern France, the script changed dramatically during a pulsating doubles match.

Dodig and Pavic had only a few chances in the first two sets. Herbert played aggressively and Mahut raised his game on important points.

The Croatian pair gradually found its rhythm and made the most of Herbert’s sudden dip on serve. The Croats moved into a 5-3 lead after a thunderous forehand pass from the left-handed Pavic silenced the home crowd, and the French paid the price for their mistakes at the net.

Herbert struggled again on his serve as the French looked on the verge of a collapse at the start of the fourth, but he fought through a 13-minute game. Under pressure on his next service game, Herbert once again found the ability to get out of trouble as a lob from Dodig bounced just inches out.

Trailing 0-40 on his serve with the French up 5-4 and facing jeers from French fans, Pavic showed more steel. He turned toward the French supporters and gestured as if to ask them to make more noise. He then launched consecutive service winners to fend off three match points and hold with a drop volley.

But the French were more composed in the tiebreaker and earned three more match points after Dodig went long with a forehand, and Herbert produced a winning serve.

Mahut converted the first match point with a fine reflex volley. AP

upholding his disqualification is not enforceable in Russia, the court said.

CAS, however, is the only valid arbiter for sports disputes at the games, according to the Olympic Charter. In rare instances, Switzerland’s supreme court can weigh in on matters of procedure.

“The CAS decision in this case is enforceable since there was no appeal filed with the Swiss Federal Tribunal within the period stipulated,” the IOC told The Associated Press in an e-mail on

Thursday. “The IOC will soon request the medals to be returned.”

The law firm representing Zubkov said the Moscow court found the CAS ruling violated Zubkov’s “constitutional rights” by placing too much of a burden on him to disprove the allegations against him.

Zubkov won the two-man and four-man bobsled events at the Sochi Olympics but he was disqualified by the IOC last year. The verdict was later upheld by CAS. Zubkov and his teams remain disqualified in official Olympic results, but the Moscow ruling could make it harder for the IOC to get his medals back. AP

orts

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Monday, November 26, 2018

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OCHOA TRIUMPHS ON WORLD STAGE RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

OCHOA

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ARGARITA “MEGGIE” OCHOA ruled the -49 kilogram women’s division of the Jiu-jitsu World Championships to become the first Filipino and Asian world champion on Sunday in Malmö, Sweden.

The 28-year-old Ochoa beat Canada’s Ni NI Vicky Hoang, 2-0, in the final round to clinch the country’s and continent’s first-ever gold in the sport on the world stage.

The victory caps Ochoa’s fruitful year after her bronze-medal finish in 19th Asian Games in Indonesia in August and the title she won in the Jiu-jitsu World Tour in London in March.

Last year, Ochoa also bagged gold in the fifth Asian Indoor and Martial Arts Games in Turkmenistan along with compatriot Annie Ramirez.

In the world championships, she defeated Anna Augustyun-Mitkowska of Poland, 2-0, in the quarterfinals, and Frenchwoman Laetitia Boes through submission in the semifinals.

Ochoa stands to receive P1 million from the Philippine Sports Commission for her achievement under the Republic Act 10699, or the National Athletes, Coaches and Trainers Incentive Act.

Ramon Rafael Bonilla

ATENEO IN FINALS ATENEO’S Gian Mamuyac and Far Eastern University’s Kenneth Tuffin scramble for the loose ball. NONOY LACZA

Ramon Rafael Bonilla

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TENEO took the short route to the Finals after handily beating Far Eastern University (FEU), 80-61, in Season 81 University Athletics Association of the Philippines men’s basketball semifinals on Sunday at the Smart Araneta Coliseum.

The Blue Eagles led the Tamaraws to the exit just like what they did two seasons ago.

But unlike in Season 79, when the Tamaraws forced a do-or-die Game Two, the defending champions meant business right

from the opening tip.

The powerhouse from Katipunan opened with an 8-0 run and 15-0 to start the second half with FEU failing to recover at all.

It will be the school’s 12th finals appearance—and Ateneo looked poise to bulldoze its way for another title.

“We knew that coming into this game, we will be facing a tough team,” Blue Eagles Assistant Coach Sandy Arespacochaga said.

“FEU is a tough team. We wanted to give them that due respect and not give them the chance.”

The Blue Eagles complemented their

fluid offence with a suffocating defense that resulted to a series of significant spurts.

Thirdy Ravena—who led Ateneo with 22 points, seven rebounds and four assists— scored six in the 8-0 blitz in the opening minutes of the first period.

That run proved to be what Ateneo needed to dominate the game as they unleashed a 15-0 onslaught in the third quarter—a long stretch that forced FEU to go scoreless for almost five minutes.

Ravena was again at the forefront of that assault with six points, including two free throws and a triple that followed Alex

Stockton’s disqualifying foul on him in the 7:12 mark of the third quarter.

Angelo Kouame, Ateneo’s big man from Ivory Coast, had a double-double of 18 points and 11 rebounds and was also a monster in the shade with four blocks.

No player from FEU scored in double figures with Kevin Eboña leading his team nine points. Graduating forward Arvin Tolentino went silent all day and only had five points.

Prince Orizu, Alex Iñigo, Jasper Parker and Richard Escoto also played out their last season of eligibility for FEU.

MENDOZA, MARTIN SWEEP TITLES

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REPRESENATIVES of the 11 member-countries gather at the close of the two-day Southeast Asian Games Federation meetings held on Friday and Saturday in a hotel in Pasay City. The Philippine Southeast Asian Games Organizing Committee presented a comprehensive progress report at the final meeting of the Executive Council presided by Philippine Olympic Committee and SEA Games Federation President Ricky Vargas (middle row, fourth from left).

BIGGEST SEA GAMES EVER R

EAD this: 56 sports, 529 events (and counting?).

And here’s some more: 47 competition venues, 36 noncompetition facilities, 9,600 athletes, 2,000 technical officials and 1,500 covering media.

That is not a nutshell. Those numbers make next year’s 30th Southeast Asian Games the country is hosting from November 30 to December 10 as the biggest in the biennial multisport event’s history.

“It’s the biggest and we are happy that the SEA Games Federation agreed to the program,” Philippine Olympic Committee President Ricky Vargas said.

Vargas, along with top officials of the Philippine Southeast Asian Games Organizing Committee (Phisgoc) led by Chairman Alan Peter S. Cayetano, presided over the SEA Games Council meeting at a Pasay City hotel.

The reaction, Vargas said, was nothing close to surprising or negative. In fact, according to POC

Chairman Rep. Abraham Tolentino, some officials from the 11-member country SEA Games are appealing to include a few more events.

Athletic and aquatics are compulsory sports, thus falling under Category 1 disciplines. There will be 44 events in athletics and 42 in aquatics.

Category 2 includes archery, badminton, baseball/softball, basketball, billiards, 10-pin bowling, boxing, canoe/traditional boat race, chess, cycling, dance sport, fencing, football, golf, gymnastics, handball, hockey, ice hockey, ice skating, judo and karatedo.

Arnis, e-sports, floorball, ju-jitsu, kickboxing, kurash, lawn bowls/petanque, netball, obstacle course, sambo/vovinam, underwater hocket and wakeborading were bracketed in Category 3.

Cayetano reaffirmed the government’s support for the Games worth P7.5 billion.

Forty sports were in the 2005 Games program that the country hosted and dominated with 112 gold, 85 silver and 93 bronze medals.

Standhardinger, Lee, Banchero in 3-cornered fight for BPC title

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HAT was earlier a one-sided Best Player of the Conference (BPC) derby has turned to a three-cornered fight among Christian Standhardinger, Paul Lee and Chris Banchero entering the Philippine Basketball Association (PBA) Governors Cup finals.

Standhardinger paces the statistics race but Lee and Banchero have made a case in leading their teams to the finals of the season-ending tournament.

The wide-open race for the Best Import award has essentially come down to a virtual one-on-one between Alaska Milk’s Mike Harris and Magnolia’s Romeo Travis.

Barangay Ginebra’s Justin Brownlee, Phoenix Petroleum’s Eugene Phelps, Meralco’s Allen Durham, NLEX’s Aaron Fuller and Blackwater’s Henry Walker had all been strong bets until their teams were eliminated.

Harris is ahead of Travis with his whopping averages of 30.31 points, 20.69 rebounds, 2.81 assists, 1.13 steals and 1.00 block.

The Magnolia import, a BPC winner in his previous stint with Alaska Milk, norms 24.5 points, 14.8 rebounds, 4.81 assists and 2.0 steals.

Standhardinger is the runaway leader in the stats race among the locals with 41.9 SPs (statistical points) a game. His downside was his inability to get San Miguel Beer even in the semifinals—the same with secondrunning Stanley Pringle (34) of NorthPort.

At third was Ginebra’s Japeth Aguilar (32.9), followed by Lee (31.64) and Banchero (31.56).

Banchero was third through the eliminations but dropped down to fifth as his numbers went down with the ankle injury he suffered in their last game in the eliminations.

But both Lee and Banchero could boost their respective drives in the finals that start December 5 at the MOA Arena in Pasay City.

The final determining factor in the BPC and Best Import derbies is the balloting among the players, the sports media and the PBA Commissioner’s Office.

Going into the finals, Lee averages 17.64 points, 4.43 rebounds, 3.14 assists and 1.86 steals, while Banchero puts in 14.4 markers, 4.6 boards and tournament-best 7.13 dish-offs and 1.0 steal.

Standhardinger leads the tourney in scoring (22.8) and rebounds (13.4) in a strongest showing by a rookie in a tourney in years.

There will be four competition centers for the Games—New Clark City in Capas (Tarlac), Subic, Metro Manila and Tagaytay City/Batangas.

The Bases Conversion and Development Authority is building a sports complex at the New Clark City with a world-class stadium and aquatics center as the centerpieces. The facilities are targeted to be to be completed in September 2019.

Phisgoc Executive Director Ramon Suzara, meanwhile, said that there will be a meeting of the chiefs of mission starting on Thursday until Saturday and the Philippine SEA Games One Year Countdown Celebration will be staged at the Bayanihan Park in Clark on Friday.

Ramon Rafael Bonilla

ARCRYAN MENDOZA and Aljim Martin duplicated the feat that they pulled off in the massed start road race with an impressive showing in the individual time trial of the Philcycling-Go For Gold National Junior and Youth Trials on Friday in Tagaytay City.

Mendoza submitted the fastest time in the race against the clock, reaching the line in 18 minutes and 6.55 seconds to complete the 13-kilometer course that began and ended at the Praying Hands monument at the Tagaytay City International Convention Center.

The youngster made his father Ryan, a former rider and duathlete, doubly proud after riding almost a minute faster than Efren Reyes Jr., whom he beat in a sprint to the finish in Lian, Batangas, the other day.

It will be a no-brainer for the organizers to select both Mendoza and Reyes for the national juniors pool, as well as Martin, whose 20-second difference from John Paul Laureta readily made him as the most sought-after rider in the youth division.

Go For Gold godfather Jeremy Go and Go For Gold Project Director Ednalyn Hualda will handpick the riders who will race for the national

developmental team.

Martin, cousin of veteran Ronald Oranza, finished in 13 minutes and 49.60 seconds after 11 kilometers of undulating road in the 14-15 youth division of the two-day tryouts organized by PhilCycling and backed by Scratch It, Go For Gold.

Justin Nathaniel Valerio was 20.55 seconds slower than Martin for third place followed by Marc Van Louie Baluyut (23.69 behind), Josue Albert Decuzzar (44.74), Jose Joshua Manalang (50.56) and Joedrei Gonzales (1:01).

Rench Michael Bondoc checked in one minute and 18.8 seconds behind Mendoza in the junior category for third place while Go for Gold rider Ean Cajucom finished fourth, 1:20.88 slower.

Completing the top 10 in the juniors were Landerson Nebres (1:21 behind), Zylex Castillo (1:36), Jhonbyron Lucero (1:49), Teodoro Pablo Jr. (1:58), Rommel Evangelista (2:01) and Sajed Renz Pulayan (2:09).

Harry Dave Abanes placed eighth in the youth (1:08), John Patrick Pagtalunan ended up ninth (1:10) and John Mark Lumanglas 10th (1:14).

De Vega, Nepomuceno, Coo lead 3rd batch of sports Hall of Famers

THE third batch of Hall of Famers (from left) Maria Lydia de Vega (athletics), Rafael “Paeng” Nepomuceno (bowling), Olivia “Bong” Co (bowling) and Erbito C. Salavarria (boxing) are enshrined. NONOY LACZA

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SIA’S former fastest woman Lydia de Vega, bowling greats Paeng Nepomuceno and Bong Coo and boxer Erbito Salavarria led the third batch of inductees to the Philippine Sports Hall of Fame in ceremonies recently at the Philippine International Convention Center.

Posthumously inducted were Filomeno Codiñera (baseball and softball), Josephine de la Viña (athletics), Loreto Carbonell (basketball), Benjamin Arda (golf), Lita de la Rosa (bowling)

‘THE TRUTH’ PREVAILS Filipino-

American superstar Brandon “The Truth” Vera successfully defends his heavyweight world championship by knocking out Italian Mauro Cerilli in the one-minute mark of the first round during the ONE: Conquest of Champions at the Mall of Asia Arena. In the co-main event, Eduard Folayang defeated Singapore’s Amir Khan via unanimous decision to capture the vacant lightweight world championship.

and Sen. Ambrosio Padilla (basketball).

“It’s not easy to be an athlete, and it’s difficult to win. And it’s even more difficult to be enshrined to the Hall of Fame,” de Vega, who won gold medals in the 100 and 200 meters in the Asian Games in the early 1980s, said.

“I made it sure to come home and receive the award because being member of the Hall of Fame is one of the best awards I have ever received,” she added.

Coo thanked her family who introduced her to the sport during “a trying time in her life,” whole Nepomuceno, who has received dozens of awards both local and abroad, said “it is an honor to be recognized in your own country by your own people.”

There are now a total of 37 Hall of Famers since the Philippine Sports Commission started giving the award in 2010.

PSC Chairman William Ramirez congratulated the awardees as he extolled the virtues of hard work and dedication in his remarks in the ceremony.

That social media chatter

SHADES of Macky Escalona to Doug Kramer for the game winner for Ateneo against University of Santo Tomas (UST) in Game One of the 2006 University Athletic Association of the Philippines (UAAP) men’s basketball Finals.

Superb inbound by Juan Gomez de Liaño to Bright Akhuetie who got a screen from Paul Desiderio for the game-winning undergoal stab against Adamson University in Game One of University of the Philippines’s (UP) Final Four series with the Soaring Falcons. Now they are one win away from an upset and booking UP’s first UAAP finals berth since 1986.

Looking at social media, many wonder if this is a form of karma against the Soaring Falcons for that noncompetitive game against Far Eastern University (73-71) for their final elimination-round game where two key players curiously did not suit up.

I have no idea what happened behind closed doors or whether someone was hurt or not, but listening to people’s theories...well, it isn’t good.

I seem to recall years ago when a college coach pulled out all his top players from a crucial stage in the fourth period. The opposing team rallied for the win. What was even more mysterious was he never brought back his starters or top players. Whether that a was a pass or not, no one will know but it was suspicious. But the funny (I guess it depends on where you stand) thing is the other team beat that squad when they met in the finals via a humiliating two-game sweep.

In a different instance, this team from one league lured away two players from a couple of teams to bolster its drive for a championship. This infuriated the coaching staff of one team which is the brother team of that other school from the other league. Now that team that recruited these players didn’t win. And speaking to the coaches of that team that was hurt by these defections, they were all smiles and were talking about karma.

Adamson University was atop the league for the most part of the season. But toward the end, they dropped to second and lost four of their seven matches in the second round. Not exactly the way it should be when competing for a championship.

If we go laterally, Letran lost its last game of the elimination round of the National Collegiate Athletic Association to University of Perpetual Help. I remember thinking and posting on my own social-media accounts that this isn’t the way you want to enter—on a losing note. Unfortunately for the Knights, they played their worst game of the season in the Final Four against Lyceum of the Philippines University (LPU), which blew them off the court.

Let me clarify this, though...losing one’s final elimination-round game doesn’t mean one is on a tailspin. Ateneo lost their final second-round games of the 2010 and 2011 seasons yet come the Final Four and beyond, they put the hurt on their foes for their third and fourth titles of what eventually ended up as a “five-peat.” I am just saying it is better to win going into the next stage as opposed to losing.

Now, however as huge a win as it was for LPU in the Final Four, they, too, lost a smattering of games in the second round of their own league after sweeping the first round. And come the finals, they were bushwhacked by the defending champions, San Beda for another “three-peat” of their own.

While it isn’t over of course, for Adamson University, as it has one more game to play, no team wants to be on the backheel and with the pressure all on them.

Their problem is consistency. They got lots of help from the bench in the early games of the season. Since then, not much forcing a lot of the responsibility on the veterans. Unfortunately for them against UP in Game One, some didn’t play well at all leaving only Papi Sarr and Sean Manganti to carry the cudgels for the Soaring Falcons.

If they want to fulfill their destiny of winning a championship, everyone has to show up come Game Two. If not, we can be sure we are going to hear more barbs on social media.

Sports GREATS RIDE BusinessMirror

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| Monday, November 26, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TOGETHER

LEWIS HAMILTON is aiming to sign off with an 11th win of the season. AP

Hamilton clinches pole in Abu Dhabi Grand Prix

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BU DHABI, United Arab Emirates—Five-time Formula One (F1) world champion Lewis Hamilton clinched pole position for the season-ending Abu Dhabi Grand Prix on Saturday.

The Mercedes driver’s 11th pole of the season and record-extending 83rd of his career looked in some doubt as Ferrari’s Sebastian Vettel was quicker at the first time split.

But Vettel went too wide on the last turn and qualified only third behind the Mercedes of Valtteri Bottas.

“What a great way to end the season with a 1-2 qualifying,” Hamilton said. “I wanted to finish the season on a high.

Really happy with today.”

Vettel felt he could have done better.

“I thought [it] was in reach. I would have liked to have been on the front row, it’s not the case,” the German driver said. “But we will fight as hard as we can.

We have good speed on the straights, let’s see what we can do.”

Kimi Raikkonen was fourth fastest in his last race for Ferrari before leaving to join Sauber next year.

Red Bull drivers Daniel Ricciardo and Max Verstappen will start from fifth and sixth on the grid, respectively, on a track not well suited to their car.

Hamilton is aiming to sign off

with an 11th win of the season, while Bottas has yet to win one and Vettel’s last victory came at the Belgian GP in August.

For the second straight year, four-time F1 champion Vettel led during the championship—and was close behind Hamilton at the halfway stage. Vettel finished 46 points behind Hamilton last year and trails by 81 heading into Sunday’s race.

Earlier, Hamilton posted the fastest time in the third and final practice in hotter conditions at the Yas Marina desert circuit, about 0.3 seconds ahead of Vettel and 0.4 ahead of Raikkonen.

It is Ricciardo’s last race for Red Bull before joining Renault next year, and McLaren veteran Fernando Alonso’s last ride in F1 before the 37-yearold Spaniard leaves to pursue other racing interests.

Near the end of P3, there was a heated moment between Toro Rosso driver Pierre Gasly and Romain Grosjean of Haas when they narrowly avoided colliding. The Frenchmen made up afterward as Grosjean went over to speak to Gasly, who patted him on the back.

Sunday’s race begins late in the afternoon and ends under floodlights.

Bottas has not won since last year’s season-ender in Abu Dhabi. AP

MCLAREN’S Fernando Alonso (right) and Nascar world champion Jimmie Johnson ride in a McLaren 570S car at the Yas Marina racetrack in Abu Dhabi. AP

The 37-year-old Fernando Alonso has grown more interested in pursuing other racing interests and is aiming to win motorsport’s Triple Crown of the 24 Hours Le Mans, the Indianapolis 500 and the Monaco GP.

BY Jerome Pugmire The Associated Press

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BU DHABI, United Arab Emirates— Seven-time Nascar champion Jimmie Johnson and two-time Formula One champion Fernando Alonso drove for fun together around the Abu Dhabi F1 track on a blazing hot Saturday afternoon.

Alonso took the wheel of the McLaren 570S car, with Johnson for once in the passenger seat, as they completed a few laps around Yas Marina circuit.

“Fernando was very, very upset he couldn’t turn off the [stability] assistance from the car and the traction control,” Johnson joked afterward at the McLaren motorhome. “So we spent two laps trying to figure out how to push the buttons to turn that off. As soon as we got that off, we spun out.”

On Monday, they will swap race cars in Bahrain for an event they have been teasing about on their social-media accounts in recent weeks.

The 43-year-old Johnson arrived in Abu Dhabi from the McLaren headquarters in Woking, England, where he got a seat fitting and time in the McLaren simulator.

“It was so impressive, the architecture and the landscaping. I was there on a cool morning with the fog off the lake, the

modernism of the building and the cars sitting there in the lobby,” Johnson said.

“Simulators are very good for the flow of the race track and [knowing] where the pit lane is. I was able to get that out of the way.”

After the last race of Alonso’s long F1 career on Sunday, he will try his hand at what Johnson does so well.

A Hendrick Motorsports stock car was shipped last month to Bahrain in a container that included tires and equipment for a full day run. Hendrick Motorsports is also providing a crew to work with Alonso when he drives the Chevrolet.

“Our car [is from 2018] yes. Sadly, the restrictions for Formula One [means] it is a five-year-old car, but I hear it’s a V8 [engine],” Johnson said, comparing the two cars being used. “I miss that sound, which I know everybody does. So I’m excited about that.”

The race swap idea was formed during a chance January meeting in a waiting area at the Charlotte Convention Center.

Johnson was at Nascar’s preseason media availability, and Alonso was brought to the event by IMSA to promote the Rolex 24 Hours of Daytona.

“His presence in America has a huge effect on American racing, on Formula One racing, and on motorsports in general,” Johnson said of Alonso. “Just the excitement value he brings to racing and the way he’s portrayed in the US.”

‘THIS IS FOOTBALL, NOT WAR’

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UENOS AIRES, Argentina—Argentines expected the final of the century between their country’s biggest clubs and eternal rivals. Instead, the world witnessed one of the biggest embarrassments in South American soccer history.

The Copa Libertadores final was postponed to Sunday after Boca Juniors players were injured when their bus was attacked by River Plate fans.

Conmebol President Alejandro Dominguez announced the decision on Saturday, just 10 minutes before the final was supposed to start.

“One team didn’t want to play and the other didn’t want to win under these conditions,” Dominguez said.

Boca players were injured in their bus just a few blocks from River’s Monumental de Nunez Stadium when rocks and pieces of wood thrown by River supporters shattered the windows.

Some players were also affected by tear gas and pepper spray used by police to quell the violence.

Boca captain Pablo Perez and teenager Gonzalo Lamardo were taken to nearby hospitals, where fans gathered in support. Perez had injuries to his arms and an eye, according to images of Boca’s locker room shared on social media. Lamardo had trouble breathing

because of the gas.

Earlier, Conmebol said in a statement that its doctors noted Boca players “suffered superficial skin injuries” and two “said they had eye injuries, which could not be confirmed.”

“We believe that under the medical point of view there is no reason to suspend the match,” the doctors of the South American soccer body said.

Dominguez disagreed.

“This is football, not war. Neither team wants to play because this match would be unnatural,” he said.

Dominguez met with club directors and Fifa President Gianni Infantino before he announced the postponement.

“There was a gentlemen’s pact with both clubs,” Dominguez said. “There was a request from both clubs for the match to be suspended.”

The game had been called “The Final For All Time” because it is the first time the two fierce rivals had met in the final of South America’s most coveted club tournament.

Conmebol initially delayed the kickoff of the second leg for an hour, then postponed it for two hours, 15 minutes to 7:15 p.m. local time (2215 GMT).

RIOT police form a line to keep fans at bay outside the Antonio Vespucio Liberti Stadium before the final match of the Copa Libertadores between River Plate and Boca Juniors in Buenos Aires. AP

After the match was suspended, fans clashed with police outside the stadium. At least 30 people were arrested, according to local media.

Some of the more than 66,000 River fans also tried to storm into the dressing rooms, interrupting abruptly a TV

interview of River President Rodolfo D’Onofrio.

“We want to play a match that is head-to-head,” he said before he was forced to run in the chaotic inside of the Monumental de Nunez. “It is regrettable that a divine party like this was interrupted by 15 hooligans. We were stopped

Alonso won F1 in 2005 and 2006, and his 32nd and last GP win was in 2013 while with Ferrari.

The 37-year-old Spaniard has grown more interested in pursuing other racing interests and is aiming to win motorsport’s Triple Crown of the 24 Hours Le Mans, the Indianapolis 500 and the Monaco GP. Last year, Alonso skipped the Monaco GP, which he has won twice, to compete at the Indy 500. He led for 27 laps before his engine blew. In June, Alonso won Le Mans at the first attempt.

“Anybody in motorsports appreciates other forms of racing. It’s maybe not in your backyard...but we all watch and enjoy it,” Johnson said. “Fernando’s put on many great battles over the years.”

Johnson said he would take the opportunity of racing in F1 “in a heartbeat” but knows that’s far from realistic.

“The last single-seater I drove was probably in 1996, maybe 1995 even,” he said.

“So it would be crazy to think I could come in and just immediately be there.”

His more realistic goal is attempting to win an eighth Nascar title. He is tied for the record with Richard Petty and Dale Earnhardt.

“The competitor in me wants to do it. I want to be the best,” Johnson said. “But I can’t believe I’m sitting here with seven as it is. It’s been a pretty crazy ride.”

from playing a match that the entire world was watching.”

D’Onofrio also said “there should have been adequate prevention” to guide Boca’s bus safely to the stadium.

Buenos Aires public security secretary Marcelo Alessandro admitted there was a security failure that opened the way for the attack.

Boca President Daniel Angelici was escorted by bodyguards and security forces inside the stadium while River fans shouted “Coward!”

“Matches have to be won and lost on the pitch.

But we were not in the same conditions to play,” Angelici said. “As an Argentine and as a football executive, I am embarrassed...look at the spectacle that we gave the world.”

The first leg of the Copa Libertadores final was played three weeks ago and ended 2-2. It was delayed by a day following torrential rain that flooded the field at Boca’s La Bombonera stadium. Boca fans were not allowed in the River stadium following a 2013 ban on visiting supporters aimed at fighting Argentina’s endemic soccer violence. But it wasn’t enough. No game seems more volatile than Boca versus River.

“It’s a shame. Security failed,” Pablo Wende, a crestfallen River fan said as he walked out of the stadium with his sons, Federico and Luca, who wore the team’s white shirts with a red diagonal band.

“We were looking forward to this final, Like everyone else in the world.” AP

Benevolent God

B

ENEVOLENT God, Your goodness is known the world over. Shine Your light on the dark parts of our world as we pray: Oh God, come to our assistance. Bring drug dealers to justice and heal drug addicts. Increase opportunities for fruitful dialogue between servant leaders and among local and national officials. Console those who grieve the loss of a loved one. May God fill our hearts with rejoicing and gladness as we seek to grow in love and wisdom through Christ, our Brother.

Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

KOREAN superstar Lee Min-ho amid the wonders of nature that are at the heart of innisfree.

Life BusinessMirror

ALL ACCESS: ROEDER CAMANAG’S ˜ AMAZING LOVE AND COMMITMENT TO THEATER D3

Monday, November 26, 2018

D1

TOP KOREAN BEAUTY BRAND OPENS FIRST STORE IN PHL TOP Korean beauty and skin-care brand, innisfree opens its first store in the Philippines at SM Mall of Asia. As an innovative beauty brand and one of the fastest-growing brands in the Amorepacific group, innisfree (@innisfreephilippines on Facebook) is dedicated to sharing the clean and pure energy of nature for healthy beauty.

The brand offers innovative beauty solutions powered by the finest ingredients found on Korea’s pristine Jeju Island. Thanks to its volcanic origins, this fertile oasis has a unique ecosystem of powerful ingredients to nurture beautiful skin.

With the wonders of nature at the heart of innisfree, they take great care to preserve and protect the environment in all that they do, practicing green living and supporting causes that give back to the Earth and the community.

“In today’s culture, Filipinos are naturally drawn to Korean influences, especially the K-beauty skin-care regimen,” says Stephen Lee, general brand manager of innisfree, Amorepacific Philippines.

“With our brand, we are excited to offer our Pinoy consumers skin care with a quality selection of products using green sustainable practices. We are also committed to expanding and establishing a longterm presence here.”

Innisfree is unlike any other beauty brands. With its green philosophy, the brand promises to preserve and protect nature by taking the time to give back to the Earth through collective activations and campaigns throughout the years.

Get that innisfree glow as customers discover some of its most loved products around the world, including the Green Tea Seed Serum, Orchid Enriched Cream and Super Volcanic Pore Clay Mask.

WHEN applied just after washing your face, the lightweight yet nourishing Green Tea Seed Serum envelops skin in comfort for a smooth and glowing complexion.

THIS Orchid Enriched Cream is a 5-in1 daily moisturizer proven to help strengthen, nourish, firm up and brighten the look of skin.

THE 10-in-1 Super Volcanic Pore Clay Mask provides intensive care to pores for various skin concerns with stronger sebum absorption from Jeju Volcanic Cluster Sphere.

Jennylyn Mercado: Max Factor’s fearless Pinay face TOTA PULCHRA MISS CHARLIZE

@misscharlize

‘Y

OU want to know the truth about beauty? It gets better with time. It gets better with life.” So goes the latest affirmative mantra of Max Factor, the global makeup brand, which is burnishing its presence in the country with the introduction of its first Filipina ambassador—Jennylyn Mercado.

“She’s not only super beautiful but she’s also super talented,” gushed Jerome Dubois, the general manager of Coty Consumer Beauty Southeast Asia, at Jennylyn’s launch at SM Megamall.

The most acclaimed young actress of GMA, Jennylyn joins legendary Hollywood women beautified by Max Factor, who made Clara Bow’s trademark Pierrot lips; Joan Crawford’s exaggerated full lips; and special shades for Jean Harlow (platinum), Claudette Colbert (dark) and Lena Horne (Light Egyptian).

“I’m gonna tell you why Max Factor is here. The reason is, in this region of Southeast Asia, the Philippines is very important, along with Malaysia and Thailand,” Dubois disclosed, while waxing nostalgic. “Max Factor, the man, came from Europe to New York. He then moved to Hollywood.

He even created the term ‘makeup.’ He helped a lot of celebrities like Marilyn Monroe and did their makeup. That’s the heritage of Max Factor.”

With the brand having a partner in Rustan’s Marketing Corp.’s Michael Huang, Dubois is confident about its continuing prospects: “The future is really about Max Factor in the region. We think that with beauty, you can give the best of yourself, and with age, your beauty is getting better and better. So, we are excited to introduce our new campaign with Jennylyn.”

The global campaign is called “You X Max Factor,” which embraces the beauty of women from all angles and encourages them to celebrate the true depths of their beauty, both on the outside and within. It also aims to be “an essential tool to empower women to be the best version of themselves and be proud to tell their own beautiful story; to enhance their natural features and who they’ve become— not try to cover up flaws, look like somebody else, or

transform their look completely.”

“I’m so grateful. I feel so blessed. I’m really thankful,” an overwhelmed Jennylyn, 31, said. On her story of fearless beauty which she shared in a video, the single mother testified:. “Every woman has a story to tell. Mine was of fear, heartache and loss. But also of passion, love and joy. I didn’t think I was beautiful until I found myself. Until I believed in myself. I aspire to be grateful every day. To see beauty in everybody. To be real at all times. And for this, I must be fearless.”

“With the many roles modern women play in life—a stay-at-home mom, business executive, athlete, entrepreneur, advocate—finding the time to do makeup is but one of many challenges they face every single day, which is why Max Factor continues to offer easy-to-use, value-for-money products busy women can trust to last and multitask like they do,” Max Factor Senior Brand Manager Monica Sangalang said in a statement.

Outside of her showbiz commitments and responsibilities as a mom, Jennylyn is also a serious baking enthusiast and triathlete. It doesn’t mean, though, that she neglects her movie-star looks when the cameras aren’t rolling.

She shared her essential makeup tools from the brand: “I need a pop of color on my lips. I’m so pale kung walang

nakalagay na makeup. I use the LipColor Elixir, which is nude, matte, creamy and moisturized. Hindi nagtsa-chap ang lips.

My favorite is the Miracle Glow Duo, pwede sa cheekbones, noseline, body shimmer at pwede din sa legs; the other side for shimmer and glow while the other side gamit ko to conceal. The Facefinity Compact Foundation is very light.

Para ka lang nag baby powder but talagang nako-cover n’ya ’yung red spots and pimples.”

Jennylyn is currently taping for a romantic-comedy series for her home network with a leading man she didn’t reveal.

Since winning the first StarStruck artista search, she has always been a poster girl for dreaming and surviving. As the first Filipina face for Max Factor, she deserves this beautiful development in her multifaceted life.

“For me, makeup is a way to express yourself. The power that gives you the freedom as an individual to bring out the best version of yourself. There is something special about makeup na when you put in on, parang you’re in charge of any situation, parang feeling mo everything will be OK,” Jennylyn said. “Whatever life has to offer you, face it. Conquer it. Laban! I embrace life, celebrate beauty and write my own story. Despite all our struggles and hardships, we become stronger than ever armed with powerful beauty that gets better with life.” ■

D2

Monday, November 26, 2018

REP.-ELECT Alexandria Ocasio-Cortez, D-New York, seems to be everywhere.

She’s cooked soup, live on Instagram. She’s done laundry in public. And she’s clapped back at critics of her clothing and a misstatement.

AP

Style

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New exhibit to feature empowered women’s footwear, clothing I THACA, New York—Alexandria Ocasio-Cortez’s shoes were made for walking over all her New York City congressional district.

Now, the campaign footwear worn by the youngest woman ever elected to Congress will be part of an exhibit chronicling how women use fashion for empowerment in endeavors, such as politics and civil rights. The Cornell Costume and Textile Collection at Cornell University is launching an exhibition titled Women Empowered: Fashions from the Frontline.

Among the exhibit’s other highlights are collars from Supreme Court Justice Ruth Bader Ginsburg, a 1954 Cornell graduate; a labor union cap from a campaign led by Coretta Scott King in 1969, and a skirt suit worn by Janet Reno, a 1960 Cornell grad and the first woman to serve as US attorney general.

The exhibit opens December 6 and runs through March 31. AP

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Peter Facinelli, 45; Garcelle Beauvais, 52; Tina Turner, 79; Richard Caruthers Little, 80.

HAPPY BIRTHDAY: Live life in the moment. Expand your mind, awareness and possibilities, but don’t let temptation be your downfall. Living within your means and sticking to a plan will be necessary if you don’t want to be taken advantage of by someone eager to prey on your benevolent nature. You can have fun and be moderate at the same time. Your lucky numbers are 4, 13, 17, 28, 31, 37, 42.

a

ARIES (March 21-April 19): An impulsive decision should be avoided. Emotions will get in your way, causing you to ignore crucial facts when it comes to joint finances, contracts or matters concerning youngsters or parents. Go over details carefully, and make choices based on facts. HH

b

TAURUS (April 20-May 20): Set your objective for the day; don’t stop until you finish. Don’t let the changes someone makes disrupt your plans or lead to a stalemate. Do your own thing and make personal changes that will promote better health and diet choices. HHHH

c

GEMINI (May 21-June 20): Keep an open mind, but don’t rely on someone to give you factual information. An argument is likely to break out if you are too trusting or someone you are dealing with aren’t honest about feelings. HHH

A brilliant offer in the season of giving THIS joyous season of giving, My Diamond extends an ongoing offer of up to 50-percent discount on diamond jewelry pieces with a minimum purchase until November 29.

One can select from an impressive collection, ranging from simple diamond studs that fit into every woman’s wardrobe to wear from weekdays to weekends, or a diamond eternity necklace that makes a strong but versatile fashion statement; to a delicate diamond bar bracelet that she can wear anywhere for that understated elegance.

My Diamond was established in 1998 by a graduate from the Gemological Institute of America (GIA) who used his knowledge of gemology, especially of diamonds, to build a brand with a very strong foundation. Over the years, My Diamond has established a reputation for excellent craftsmanship with its local artists who create very unique pieces for discerning clients.

With stores in major malls throughout the country, My Diamond’s exquisite workmanship has made it one of the country’s top jewelers.

A pretty, perfect patchwork for the holidays FOR its first-ever holiday season campaign, Salvatore Ferragamo invites every stylish man and woman into their world. Shot by Sofia Malamute, the campaign stars a cast of three women and two men that expands the Patchwork Of Characters concept which embraces diversity. Appropriate to the season which is a time of togetherness, sharing and joy, they are portrayed celebrating each other’s company in a beautiful heritage location.

Paul Andrew, Women’s creative director, says: “Being part of Ferragamo’s story is a true gift. Our dynamic creative community has all the rich heritage of this house to explore, and we enjoy total freedom to play with those codes from the past in order to reinvent them for the present. Shooting this campaign alongside Sofia and watching all that work come alive

z

Today’s Horoscope

d

CANCER (June 21-July 22): Emotions will surface if someone is insensitive to what you want or what you do. Make plans that you can do alone if necessary. Don’t count on someone else for support or backup. Use your imagination and do something creative. HHH

e

LEO (July 23-Aug. 22): Speak up and put your plans in motion. Being forthright will deter others from getting in your way or trying to change your mind. Altering how you do your job or your living arrangements is favored. HHH

f

VIRGO (Aug. 23-Sept. 22): Do something constructive. Don’t let personal incidents or situations slow you down or hinder your productivity. Set your sights on your goal, and don’t stop until you are satisfied with your performance. HHHH

g

LIBRA (Sept. 23-Oct. 22): If you want to make a personal change, discuss your intentions with whoever will be affected by the choice you make. An older friend or relative shouldn’t be allowed to put demands on you. Only do what’s fair. HH

h

SCORPIO (Oct. 23-Nov. 21): A peer will be revealing. A business meeting or trip will help you decipher how to move forward. A change to how or where you live looks positive. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Craving change is one thing; doing something about it is another. Don’t let someone manipulate you by enticing you to get involved in something that is overpriced or falsely advertised. Focus on health, awareness and doing something special with someone you love. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Trust in yourself, not what your peers tell you. You will be misinformed about an opportunity or position that opens up. Take care of personal matters yourself, and nurture important partnerships. Don’t let someone’s impulsiveness become a problem for you. HHH

was extremely exciting.”

The campaign highlights a special edit of PreSpring 2019 ready-to-wear, and dedicated Holiday Season collections which contemporize a great design handed down from the Ferragamo archive. The brand is exclusively distributed by Stores Specialists Inc. around these parts.

The famous 1938 Rainbow wedge that was created

by Salvatore Ferragamo himself for Judy Garland, its immortal and inspiring rainbow palette is integrated into bags and shoes, both in rainbow stripes and block color rainbow shades.

Fresh vision and vintage codes combine to make a collection that reveals a world rich in exciting new discoveries ready to be shared and enjoyed this holiday season.

k

AQUARIUS (Jan. 20-Feb. 18): Have more faith in yourself and what you are capable of doing. Dealing with someone’s estate or personal affairs will change the way you feel about clutter and the way you live. HHH

l

PISCES (Feb. 19-March 20): Arguments are best avoided. You aren’t likely to agree with a peer, close friend or relative. It’s OK to have different opinions. Offer the same freedom and respect you want to receive to avoid a standoff. HHHH BIRTHDAY BABY: You are friendly, intellectual and assertive.

You are imaginative and extravagant.

‘rear ear’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 ___-podge 6 Fancy hotel name 10 Big-time delivery grp.

14 Leek cousin 15 Balm target 16 Blueprint detail, in short 17 Time of the past 19 Bang-up rating 20 Not on the ship 21 Film Story of 1995 23 Accepted a nomination 24 Long land depression 27 Not obvious 29 Tangles 33 Four-string guitars, cut 34 Allude to 35 Molecule part 37 Leather punchers 40 Tomb relative 41 ___ de plume 42 “He’s ___ nowhere man” 43 Healthy bean (var.)

44 Having left already

5 Make a carpet 4 46 Jewish temple 48 Concluded logically 50 It can be earned and gross 52 Like some captains 53 PC key 54 Household creature 56 Placed in hiding 61 Painted pitcher 63 Clutch-worker’s option 66 Shepard on Mercury 67 Miles from attractive 68 Backspace, on a PC 69 Vega’s constellation 70 “It’s never too ___” 71 Continue, as a subscription DOWN 1 Georgetown player 2 Aces, on occasion 3 Entree or its holder 4 ___ Jail (Monopoly downer) 5 Deprive of energy 6 Sunshine unit 7 Non-warming winter coat

8 Word with “fancy” 9 Like some games 10 Dos Passos trilogy 11 Athletic apparel 12 Type of colony or code 13 Thing shot on a lot 18 Where the cheaper seats are 22 ___ it up 25 Extensive grassy plain 26 Republic in Europe 28 Check holder 29 Dairy case staples 30 Detective Wolfe 31 Doesn’t mingle 32 Tribe of Arizona (var.)

36 Warning signs 38 Wash up, old-style 39 Winter toy 42 Toward the windy side 44 Jubilant 47 “Play ball!” announcer 49 Attachment to “song” 50 Model of perfection 51 Afresh

5 “I, Claudius” costume 5 57 Shrek, famously 58 Detach, as from a habit 59 Move delicately 60 One of the Barrymores 62 Genetic transmitter 64 Abbr. for the most extreme 65 It can be toast Solution to Friday’s puzzle:

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Show BusinessMirror

Monday, November 26, 2018

Roeder Camañag’s amazing love and commitment to theater ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

I

NDEED, Roeder Camañag has found his true calling in theater. Taking the biggest leap of faith after breaking through and staying for many years in the entertainment business as a pop singer when he was still a teenager with big dreams, Camañag’s world now revolves around the many facets of theater.

He shifts from his many roles as teacher, mentor, director, producer and actor in the many theatrical productions and projects he gets involved with, each giving him a different sense of accomplishment, fulfillment and joy.

He calls the shots for the newest theater company in town, Artist Playground, where he and his team develop and train newbies interested to explore the world of theater.

“After many years learning about and working on the ins and outs of the many intricate components of theater, I’m happy that we have found a home in Artist Playground. We are still experiencing birthing pains after almost four years but each baby step we take makes us more resilient in turning our visions into realities,” he shared.

Since its first production in late 2015, Artist Playground has come up with memorable productions that have won awards and recognition. “I’d like to think that there are still so many areas and potentials about theater that are waiting to be tapped and improved. So I treat each new project as a new opportunity to improve and learn more,” he intoned.

A few months ago, we caught Camañag’s powerful performance as Walter Markova in Geegee at Waterina, a winning collaboration of composer Jesse Lucas, playwright Dennis Teodosio and director Andrew de Real. We felt his pain, understood his longings, soared with his comic antics, and got swept off by his fabulous and colorful interpretation of Waterina.

True enough, when the Aliw Foundation recently announced its roster of live performance nominees, Camañag’s name figured prominently in the lead musical actor category.

If our memory serves us right, Camañag has won the Aliw trophy several times in the past and his being recognized annually simply proves that real talent is consistent and age is never a deterrent to be the best in whatever one decides to put his heart into.

“Every recognition is a humbling experience and an affirmation that what I do as an artist is meaningful and can touch and affect others. I guess that’s the essence of being a true artist—when getting into your role can transform you completely and give birth to new dimensions that will leave something to your audiences.”

A few days ago, we caught the final weekend performance of Dulaang UP’s The Dressing Room, where Camañag shone effortlessly in his role as a ghost actress from the past.

Camañag is reprising this role from the 2016 production and his tandem with his new coactor Bobby Martino is splendid, which we reckon keeps the show consistently at a very high entertainment level.

“For every role that I take on, I always tell myself to inject something original, something I’ve never done before, whether it be a nuance, a piece of additional clothing for my costume, a subtle mannerism, something that will keep the character interesting throughout the performance. I’m glad I am reunited with our director Alex Cortez and I was able to work with my good friend Bobby Martino, who is back in town after years of working as an actor in the UK and the US.”

GMA News and Public Affairs’s The Atom Araullo Specials was recognized as the Best Adult Educational, Cultural Program.

GMA TRIUMPHS AT 40TH CATHOLIC MASS MEDIA AWARDS

Right after The Dressing Room, Camañag plays Simoun in Gantimpala Theater Foundation’s El Filibusterismo. Then he firms up his plans for the next season of new shows with his Artist Playground family. ■

D3

FOR promoting good values through television and radio, GMA’s various programs and specials were honored at the 40th Catholic Mass Media Awards (CMMA) held at Star Theater on November 14.

Once again, the country’s most awarded news magazine program Kapuso Mo, Jessica Soho was honored as Best News Magazine. Hosted by Jessica Soho, it consistently reigns as the most-watched GMA program nationwide.

Meanwhile, the “Holy Land Coverage,” Unang Hirit’s special coverage of the Lenten season, won for Best Special Event Coverage. A first for Unang Hirit, the special featured host Rhea Santos anchoring a live coverage from various pilgrim sites in Israel connected to the passion, death and resurrection of Jesus Christ.

GMA News and Public Affairs’s The Atom Araullo Specials was recognized as the Best Adult Educational/ Cultural Program, while the Best Children and Youth Program award was given to the top-rating infotainment program Aha! Beating other entries in the Best Comedy Program category is the well-loved comedy anthology Dear Uge bannered by Eugene Domingo. On the other hand, drama anthology Stories for the Soul, hosted by Sen. Manny Pacquiao, received the award for Best Religious Program.

Leading local news channel GMA News TV’s flagship newscast State of the Nation with Jessica Soho won as Best News Program. Taking home another accolade for GMA News TV is multi-awarded drama anthology program Wagas, which took home the Best Drama Series/Program citation.

These are just some of the programs GMA won at the latest edition of the prestigious Catholic Mass Media Awards, which recognizes students, professionals and organizations that uphold Christian values among Filipinos through mass communication.

Style

D4 Monday, November 26, 2018

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MAKE Up For Ever Matte Velvet Skin Powder Foundation 12H offers medium to full coverage and a longlasting wear.

Powder or liquid: What works for you?

AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

V

ERY few people I know, even those who work for beauty brands, use liquid foundation on a daily basis. I am exception to that. I use liquid face base almost every time I leave the house.

I’m also a fan of powder foundations, like MAC Studio Fix and It Cosmetics Celebration Foundation, but when it comes to a choice between liquid and powder, I would always go for the former.

My requirements for a good powder foundation are quite stringent.

1. It must offer medium to full coverage.

2. It must not look powdery.

3. It must have no white or gray tinge.

4. It has to have a good selection of shades.

I recently tried Make Up For Ever Matte Velvet Skin Blurring Powder Foundation 12H in Y405. The shade is a bit dark on me but in the case of powders, I would rather use something darker than something that would make my face look lighter than my neck.

This powder foundation comes in at least 30 shades. I’m assuming the lesser number of shades being made available in the Philippines is because we obviously don’t need the lightest and darkest shades.

Make Up For Ever Matte Velvet Skin Blurring Powder Foundation 12H comes in a lovely black tin compact with a double-sided flat sponge. The sponge is double-sided for a reason. The black side is for high coverage while the white side for a soft veil of powder.

I honestly only use the sponge for touch-ups, which doesn’t happen often because the powder is quite long lasting.

I apply the powder over a light moisturizer and sunblock with a dense powder brush or a Kabuki brush. Application starts from the nose outward. According to the makeup artist who first applied Make Up For Ever Matte Velvet Skin Blurring Powder Foundation 12H on me, start from the nose and the middle of the face, where the highest concentration of color should be. On the edges of your face, the color should be diffused. After that, I apply blush/highlighter/ bronzer then a dusting of MUFE Ultra HD Loose Powder. On days when I have many appointments, I set my makeup with MUFE Mist & Fix. Otherwise, I’m good.

So here are my observations about Make Up For Ever Matte Velvet Skin Blurring Powder Foundation 12H based on my experience of using it for a month: 1. The powder really has blurring properties.

2. You don’t wear a primer before applying Make Up For Ever Matte Velvet Skin Blurring Powder Foundation 12H but a moisturizer is a must.

3. I didn’t break out after using this or feel that my pores were clogged.

4. The price (around P2,700) is quite high, but if you want a finish that strides the line between natural and fully made-up, this is for you.

5. It’s impossible for this to look cakey. The powder is very finely milled.

Travel in comfort and style JAPANESE global fashion brand Uniqlo (www. twitter.com/uniqloph) releases its latest lineup of winter pieces featuring the Seamless Down, Ultra Light Down, Heattech and Heattech Fleece to keep you warm and comfortable for any upcoming next trip to foreign shoes.

This season’s key items come in a spectrum of colors and multiple materials that are functional, versatile and compact, a testament to Uniqlo’s commitment to provide Filipinos with quality and innovative clothing that meet the ever-changing needs of its customers.

If you are going on a winter holiday, warmth and comfort should be your first priority. With Uniqlo, style and fit are also essential. The latest collection features complementary separates and layering essentials necessary to combat unpredictable weather while keeping your coldweather wardrobe on point.

Here are trendy winter pieces that pack away lightly but will warm you right up: ■ SEAMLESS DOWN. Made with softer and lighter material, this season’s updated Seamless Down is water-repellent, windproof and lightweight.

■ ULTRA LIGHT DOWN. Compact and pocketable for easy carrying, the Ultra Light Down features an incredibly thin, light and warm seamless design that lets you move with ease during your city travels. The collection includes parka, jacket and vest.

■ HEATTECH. Made with soft and smooth fabrics, Heattech generates heat from your

body for maximum warmth and comfort while lounging. Available in three types—Heattech, Heattech Extra Warm and Heattech Ultra Warm—it works great as innerwear or in layered styles.

■ HEATTECH FLEECE. For unmatched style and warmth, Heattech Fleece combines cozy fleece and insulating Heattech to allows you to weather the elements as you travel on the road.

HEATTECH Fleece

BusinessMirror

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Monday, November 26, 2018 E1

Whistle-blowers are a sign of healthy companies

S

Convincing CEOs to make harassment prevention a priority

By Stephen Stubben & Kyle Welch

ome of the worst corporate disasters of the past two decades were heralded by whistle-blowers: Sherron Watkins raised the red flag internally at Enron, Cynthia Cooper let management know of major accounting problems at WorldCom and Matthew Lee brought problems to his management team at Lehman Brothers.

In 2018, Navex Global, the leading provider of whistle-blower hot line and incident-management systems, provided us secure, anonymized access to more than 1.2 million records of internal reports made by employees of public US companies. Our analysis revealed that whistle-blowers, and large numbers of them, are crucial to keeping firms healthy and that functioning internal hot lines are of paramount importance to business goals, including profitability.

We found that firms actively using their internal reporting systems face fewer material lawsuits and have lower settlement amounts than firms ignoring—or minimally using—similar information. While all firms are likely to have some frequency of issues, firms where these are reported early are more likely to address them before they become larger problems resulting in costly litigation.

Fast-growing companies are less likely to use their internal reporting systems, as are firms that show signs of potential earnings misstatements. Firms that are more active in using their systems tend to be more profitable (as measured by return on assets) than firms that are less active users of their systems.

We found that companies that more actively use their internal reporting systems can identify and address problems internally before litigation becomes likely. Although settlement costs can often be in the hundreds of millions of dollars, the hit to brand reputation and stock price can easily exceed all other out-of-pocket expenses.

Our research provides strong evidence that high usage is more often a sign of a healthy culture of open communication between employees and management than a harbinger of real trouble. After all, large organizations face many common, unavoidable and unobserved problems.

Internal reporting systems simply make those problems visible to management.

Stephen Stubben is an associate professor at the University of Utah. Kyle Welch is an assistant professor at the George Washington University School of Business in Washington, D.C.

What stan lee knew about managing Creative people

I

If Your Innovation Effort Isn’t Working,

Look at Who’s on the Team

By Nathan Furr, Kyle Nel & Thomas Zoëga Ramsøy

A

n all-star team is making headway with a new initiative. Then the results begin taking longer than anticipated to prove, and after too much time spent outside their individual comfort zones, the team of high-achieving employees can’t seem to execute within the uncertain environment.

How could such a capable team fail?

Transformation-capable teams are made up of people who not only are high performers, but hold a unique balance of skills and mindsets that allow them to sustain focus, agility and optimism in the face of uncertainty. Ultimately, not all topperforming employees are equipped for this. There are three unique characteristics that will play critical roles

S

By Sydney Finkelstein

tan Lee hated to see an idle artist. The renowned comic-book writer and publisher, who died recently at 95, thought idle talent was bored talent, and bored talent was easy to lose to the competition. It also personally bothered him that the people in his employ might be scrambling to earn enough money. So Stan made sure to provide continuous employ-

© 2018 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

as a team takes on a breakthrough initiative.

Being comfortable with uncertainty

The term “negative capability” was coined by the poet John Keats while describing writers like Shakespeare who were able to work within uncertainty and doubt. In a modern context, negative capability can be thought of as the ability to be comfortable with uncertainty, ment, sometimes to the detriment of the company.

I studied Lee for my book, Superbosses. A superboss isn’t just a really good boss. They don’t just build an organization or surpass a revenue target; they identify, train and build a new pipeline of talent.

“Keep talent busy” was just one of the lessons I took from Lee. A second but equally important one was “Don’t censor talent.” Lee preferred

even to entertain it, rather than to become so anxious by its presence that you have to prematurely race to a more certain, yet suboptimal, conclusion.

Leading and executing in unfamiliar territory

Chaos pilots are people who can creatively lead a project through uncertainty. Leaders who are chaos pilots are able to drive a team forward on a project even as the environment around them fluctuates.

Chaos pilots often care more about creating meaningful change than about climbing a corporate ladder or getting another star on their charts. Finding them can be challenging and requires observation and experimentation.

the ability to uniquely connect new information, ideas and concepts that are usually held far apart.

Convergent action, the second trait, is the ability to execute on these new ideas in order to create something tangible. And last, having the ability to communicate ideas in a coherent, compelling and influential way is paramount. This trait will inspire other leaders and decisionmakers to believe, support and act on a novel idea or opportunity.

Each organizational project represents a moment of potential transformation, and each success helps a firm self-correct and become what it needs to be to survive: a malleable organization capable of capturing new opportunities.

Finally, there are three neuropsychological traits to seek while building a transformative team. The first of the three, divergent thinking, is

Nathan Furr is an assistant professor of strategy, at INSEAD. Kyle Nel is the CEO and cofounder of Uncommon Partners. Thomas Zoëga Ramsøy is the founder and CEO of Neurons Inc. The three are coauthors of Leading Transformation: How to Take Charge of Your Company’s Future.

to let his talent sort out the creative details. Lee elaborated: “It seems to me that if a person is doing something creatively, and he feels that’s the way it ought to be done, you’ve gotta let him do it.”

A third lesson I took from Lee’s example: “Give credit where it’s due.” It sounds so straightforward, but in reality, it’s very rare. One way Lee gave credit was by creating a credits page, written in a chatty tone. The credits

page was unique in comics; up until then the artists drawing and inking the panels had remained anonymous. This kind of publicity was not only good for the artists, but made it possible for a young reader to become particularly devoted to their favorite artist.

Finally, Stan Lee’s example is a reminder to dream big. Lee felt that comic books had the power to make important social commentary, to be incisive and satirical and smart. He

Divergent thinking, convergent action and influential communication

By Chai R. Feldblum & Sharon P. Masling

t has been a year since the #MeToo movement seized public attention.

The year has shown us just how difficult it is for human resources directors, general counsel, compliance officers and diversity and inclusion directors to make the business case for harassment prevention to their leadership. Many of the people in these roles know, as we do, that stopping and preventing workplace harassment is not only a moral imperative, it is also sound corporate strategy.

In the past fiscal year the filing of sexual-harassment cases by the Equal Employment Opportunity Commission more than doubled, and monetary damages paid by employers increased from $47 million to $70 million in EEOC cases. These statistics do not include the costs of sexual -harassment cases brought by private plaintiff attorneys or other forms of harassment investigated or litigated by the EEOC or private attorneys.

Damage awards and litigation costs are not the only financial consequences of corporate failure to stop and prevent workplace harassment, though. Employees who are harassed, as well as those who work with harassed employees, suffer adverse physical and mental-health consequences, resulting in absenteeism and higher medical costs. Harassment reduces the productivity of both harassed employees and the unit in which the harassment occurs. And reputational harm can also be devastating to an employer’s business.

Unfortunately many employers have still failed to implement the best and most effective measures to prevent workplace harassment. Traditional training that is focused on legal definitions and prohibitions of unlawful conduct is necessary but insufficient to prevent large judgments against a company and to prevent future misconduct.

To stop harassment effectively and to prevent its recurrence, employers need to create a culture of respect and inclusivity, where people feel safe when reporting misconduct, and where there are clear and immediate consequences for having engaged in harassment.

Chai R. Feldblum is a commissioner at the Equal Employment Opportunity Commission. Sharon P. Masling is Feldblum’s chief of staff. argued there was no reason comics shouldn’t be seen as viable art. That attitude drew the best artists to want to work with him.

Ultimately, Lee repositioned comics, professionalized the industry and launched the careers of dozens. It’s a legacy any boss would call super.

Sydney Finkelstein is a professor of strategy and leadership at the Tuck School of Business at Dartmouth.

E2 Monday, November 26, 2018 • Editor: Efleda P. Campos

Education BusinessMirror

Children’s book launched to promote healthy eating

By Roderick L. Abad @rodrik_28 Contributor

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N time for the celebration of National Children’s Month this November, Greenpeace Philippines launched a book, titled Paano Kumain ng Kulay? which seeks to promote nutrition as a way for the Filipino youth to growth healthy and fulfill their potentials.

Published by the environmental independent global campaigning organization, together with Adarna House and Me & My Veg Mouth, it features poems by author Mabi David, complemented by illustrations of Yas Doctor, to encourage six- to eight-year-old kids to eat colorful everyday fruits and vegetables that contain vitamins and minerals.

“We try to use colors as the theme of the book [to educate youngsters] that they can actually taste the colors of fruits and vegetables,” the writer told reporters in a sideline interview during the kickoff event held recently at the

Quezon politician publishes book on political satire

By John Bello Correspondent

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UCENA CITY—A former Quezon provincial board member and a gubernatorial candidate in next year’s midterm elections has written a no-holds barred book about President Duterte, his Cabinet members and other national political personalities, touching on current and burning national issues using rhetorical devices of sarcasm, irony, satire and humor.

Lawyer Frumencio “Sonny” Pulgar, a native of Calauag, Quezon, published his first book entitled Duterte’s A Joke, a 357- page book of political tirades over anything about Duterte since his assumption to the presidency in 2016.

Using his pen name Katatas Pulong, which he uses in his opinion column in several local weekly newspapers circulating in Quezon and in his blog, Pulgar writes in the Foreword of his book: “I have always intended ambitiously to write a magnum opus on History in the tradition of Teodoro Agoncillo, Nick Joaquin or Onofre D. Corpuz. But I was sidetracked by the baritone monologue of Rodrigo Roa Duterte beginning in 2015.”

The book, the first of its kind to have been written by a local provincial official in Quezon, targets the political class and various political institutions in the previous and present Duterte administration.

Pulgar, who ran under the banner of Malayang Mamamayan ng Quezon for May 2019 polls, said he filed his candidacy for governor simply to come out with his opposition to extrajudicial killing, the proposed federalism and the continued political dynasty in the country.

In the Quezon gubernatorial race, Pulgar will be up against House Minority leader and Quezon Third District Rep. Danilo E. Suarez, running under Lakas-CMD; Second District Rep. Vicente “Kulit” Alcala under PDPLaban; Fatima Abuy of Partido Federalista ng Pilipinas; Dominador Villena and Rey Rosales, both independents.

Museo Pambata along Roxas Boulevard in Malate, Manila.

“This is inspired by the idea that the colors in plant foods actually determine their nutrient content.

It’s a bilingual book [in Filipino and English]. It’s a poem. It follows the arc of morning to evening and a child playing,” she added.

Obesity and noncommunicable diseases are growing health problems in the Philippines. The United Nations Children’s Fund said more than 29,000 Filipino children die annually due to undernutrition.

“People always say it’s so hard to eat healthy,” David said. “One of the easiest ways to make sure we

get our nutrients daily is to ‘eat the rainbow.’ Plant nutrients that make malunggay green, or carrots orange, or tomatoes red, are compounds that have nutritional benefits. So a plate with different colors—not just brown—tends to be balanced and nutrient-dense.”

The author, who is also a certified plant-based cook, shared that she used to give nutritious meals to her nephew when he was very young. Hence, the book also comes with a list of activities for parents and kids on how to encourage eating more plant-based food.

“I would like to invite parents to do this sensory play with fruits and vegetables with their kids.

It’s a great way to use curiosity to introduce healthy eating habits,” she said.

Switching to plants for food as a daily practice that is good not only for one’s health, but also that of the environment, is also the goal that the 32-page book wants to impart to its readers.

Based on the latest report from Greenpeace International, global meat and dairy production and consumption must be halved by 2050 to avoid dangerous climate change.

“Five mi l l ion deat hs eac h year—nearly nine people dying per

minute—could be avoided by 2050, if people around the world would shift to healthier diets with more veggies and legumes, and less meat,” said Virginia B. Llorin, campaigner of Greenpeace Southeast Asia-Philippines.

She also cited the study of Food Nutrition and Research Institute, which reveals the declining trend about eating fruits and vegetables among Filipino households today.

The environmentalist also cited the results of Social Weather Station’s survey that showed 7 out of 10 Filipinos are eating meat and processed food, thus, contributing to environmental degradation, including deforestation.

“The livestock industry also releases as much greenhouse gases as all cars, trucks, planes and ships put together. That is a double-whammy for the country’s poorest sectors— our food producers. That is why Greenpeace is supporting this book project, not just for our health and that of the planet, but also toward developing eating habits that would support our local farmers rather than industrial meat production,” Llorin said.

Paano Kumain ng Kulay? will soon hit all leading bookstores nationwide. Price is P99 a copy.

Mapua University enters 2019 QS Asia University Rankings

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APUA University has earned a spot in Rank 401—450 in the recently released top Asian universities by the 2019 Quacquarelli Symonds (QS) Asia University Rankings.

Mapua is one of the eight Philippine universities that made it in the list.

In 2017 Mapua received an overall three-star rating for excellence from QS. It received a five-star rating for three major categories: employability, social responsibility and facilities.

It also earned four stars in inclusive-

ness and teaching categories.

Mapua is known as the Philippines’s premier engineering and technological university with internationally recognized programs in engineering and informationtechnology education. It is the first school in the Philippines and East Asia to receive accreditation from the Engineering Accreditation Commission of ABET (ABET-EAC) for electrical engineering, electronics engineering and computer engineering programs. Mapua now holds

the most number of ABET-accredited programs for a single campus in the country with 11 ABET-EAC-accredited engineering programs and three computing programs accredited by ABET’s Computing Accreditation Commission (ABET-CAC).

Seven of Mapua’s engineering programs were also granted by the Commission on Higher Education the Center of Excellence status.

Mapua holds the most number of engineering programs that are Centers of Excellence in the country.

Training on How to Implement the Data Privacy Act

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HE National Privacy Commission’s (NPC) campaign to inspect the compliance of all companies to the Data Privacy Act (DPA) across industries is now going full blast. With the recent release of the NPC’s Guidelines on Compliance Checks contained in Memorandum Circular 18-02 dated September 20, 2018, companies need to comply with this regulation.

Ignoring this compliance issue will expose your organization and management to far greater risk. Failure to comply with this regulation can result to criminal prosecution with up to six years of imprisonment and civil liabilities for accountable officers, regulatory sanctions to suspend business transactions, and penalties of up to P5 million.

With the clamor of many organizations to address their compliance issues, the Center for Global Best Practices will run a training program, entitled “Compliance to the IRR of the Data Privacy Act & Implementation Best Practices,” to be held on Wednesday, December 5, 2018, at the Manila Marriott Hotel, Pasay City. Check www.cgbp.org for details and a complete list of best practices programs, including How to Prepare Unsolicited Proposals, Legal Best Practices in Crafting Your HR Code of Discipline, Best Practices in

Project Feasibility Study and Analysis, BIR Computerized Accounting System Compliance and many more. You may also call landlines in Manila (+63 2) 842-7148/ 59 and (+63 2) 556-8968/ 69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07, or Legazpi City (+63 52) 736-0148.

This raining will teach you how to design a program of action that is fully compliant. The lecture will cover not only a basic understanding of the Data Privacy Act and its implementing rules and regulatons (IRR), but also a deeper dive into the advanced concepts such as privacy accountability, risk assessment, third-party management, data breach identification, incident reporting and more. Attendees will also learn the best practices on how to prepare their organization to implement these changes and to provide solutions and valuable insights to address compliance issues that organizations must address.

This program will feature an expert legal practitioner, lawyer Juan Paolo F. Fajardo, who is a seasoned data-privacy practitioner. Having worked as a legal consultant for the Office of the Commissioner of the NPC, he assisted in the formulation of the agency’s framework for compliance. During his stint with the NPC, he

also assisted in the development of the Commission’s 30-60-90 day compliance plan for the private and public sectors and the industry specific privacy codes. He has helped many local and multinational companies with the implementation of the Data Privacy Act. He finished his Masters of Law with special focus on Information Privacy and Competition Law at Columbia Law School New York; Juris Doctor Degree at University of the Philippines. Currently, he is a partner at Fajardo Law Offices.

This event will also feature lawyer Ivy D. Patdu, MD, who is the longest-serving deputy commissioner at the NPC. She will share her insights and updates on the new regulations on RA 10173.

Private and government organizations will find this very useful to benchmark and find out if they are on the right track on the compliance to this law. Registration is open to the general public. Public officials and government employees attending training programs like this are exempted from the P2,000 limit set by the COA based on the DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail themselves of the early payment savings and group discounts. Seats are limited and preregistration is required.

www.businessmirror.com.ph

Edukasyon.ph holds study abroad fair in Luzon, Visayas

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DUKASYON.PH unveiled the second half of Wanderfest 2018, a biannual free international educational fair for students, in both Luzon and the Visayas, on November 9 and 11.

The two-day educational fair started off at Glorietta 2’s Activity Center in Makati City, while the second day of the event took place at Ayala Center in Cebu City.

First launched in 2017, Wanderfest has become an avenue for participants to learn more about the educational opportunities they can pursue abroad, such as schools, courses and scholarship opportunities.

More than 20 schools have partnered with Edukasyon.ph as exhibitors for the event, including Reedley International School, Waseda University, Murdoch University and Southville International School and Colleges. Each of these schools offer a wide variety of programs, especially for Filipino senior high school students, undergraduates and degree holders.

“We are eager to open up to Filipino students,” said Yuta Araki from Waseda University, “especially in the school of international liberal studies and the school of social sciences.”

“We welcome Filipino students,” said Dr. David Santandreu Colange, dean of Canadian University Dubai. “We welcome, actually, students from all around the world.”

Aside from showcasing international schools, Wanderfest also featured three speakers: April Ong Vaño, founder of Collabox GXP, a gift curation business; Angela NavoaConcepcion, licensed professional teacher from Hopkins International partners Inc.; and Alex Ward, partnerships manager of the Hinrich Foundation.

Vaño, who was active in exchange programs during her youth, discussed the importance of global exchange in current times and how studying abroad can enrich people’s lives, especially in a digital age where educational opportunities can easily be accessed at one’s fingertips.

“It’s a really amazing thing to discover how much you can actually become more understanding toward different cultures,” she explained. “You get to learn more about the histories...the backgrounds and the context of why people are the way they are.”

Navoa-Concepcion also noted the numerous important exams one needs to take before studying abroad. This includes the importance of English proficiency exam scores for anyone who wishes to study abroad, which she stressed are important when applying for college applications and businesses abroad. “[One’s English proficiency] can’t be a matter of opinion,” said Navoa-Concepcion. “It has

to be specific, it has to be objective, it has to be a formal assessment.”

“If you’re good in English,” she added, “then you’ve got to be able to present any of these English test scores. So that can be in the form of IELTS [International English Language Testing System], or TOEIC [The Test of English for International Communication], or TOEFL [The Test of English As a Foreign Language].

You have to have a formal assessment of your language skills.”

Ward, whose organization is responsible for the development and strengthening of corporate partnerships across seven Asian economies under the Asia for the Hinrich Global Trade Leader Development Program, also emphasized how one can maximize college degrees while studying abroad, particularly when it comes to looking for professional development opportunities.

“Engage the people in the professional industry in addition to what you're doing as an academic,”he advised. “Putting yourself out there in the business climate while you're studying abroad is a very important aspect.”

Student participants in the fair also graced the event to check out the international schools that were offered to the public.

Lee Matthew Teope, a senior high school student who is currently taking up Science, Technology, Engineering and Mathematics (STEM), found himself rethinking his options after listening to the speakers.

“Listening to colleges that offer many programs and scholarships really [opened] up my options,” he said.

Likewise, Symon G. de la Cruz, a Grade 10 student from St. Mary’s Academy, Pasay City, expressed how informative the fair was, particularly the schools that offered educational opportunities for them.

“It feels like a great opportunity,” he said, “because at this young age, even though we still have two more years to prepare for college, at least we now know what [offers] we can avail outside the Philippines.”

Aside from senior high school students, graduates also took the chance to explore the fair for postgraduate or masteral degrees.

“There’s a lot of choices,” said Chin Tililan, a college graduate. “A lot of universities. And [the programs] as well, where...they actually explain why you should study abroad.”

“Wanderfest is really amazing, actually,” she added. “There’s a lot of choices here, especially the universities, and it’s quite good.”

Jollibee, Havaianas and GetGo Everyday also sponsored the two-day educational fair.

Christmas came early for SCG Sharing the Dream scholars

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SIDE from the cold breeze, SCG Sharing the Dream scholars felt the spirit of Christmas early as they were treated to an afternoon of surprise.

Totaling 300 SCG scholars from Taguig, Manila, Batangas and Bulacan, the students received early Christmas presents as SCG, in partnership with the Philippine Business for Social Progress (PBSP), organized a four-day visit to select SM department stores where the students bought new pairs of school shoes. Each student was given P1,000 to purchase the shoes they want and was a part of a school supply package every scholar received together with financial support.

“In addition to the financial support we give our scholars, we at SCG believe it is important to boost each scholar’s confidence, make them realize their self-worth and help build up their character. We make sure to organize seminars or even simple activities such as this shoe-buying day for the students to engage to-

gether every once in a while,” SCG Sharing the Dream Program Chairman Janalynne Jarillas said.

The SCG Sharing the Dream scholars from each city were gathered for the buying day. SCG volunteers, the PBSP team, teachers and mall staff were present to accompany and assist the students as they strolled around the department store with their peers to look for school shoes and casual kicks.

Scholars’ smiles extended from ear to ear as they found their dream pairs and expressed excitement to wear the new shoes in the next school day.

The SCG Sharing the Dream program is a holistic learning opportunity for students. SCG conducts various personality and character development activities such as life skills workshops to complement the scholars’ academic learning, responsibilities and needs. SCG hopes to hone not only academically excellent students but also future leaders who are ready to conquer life.

RCBC Savings Bank boosts financial inclusion campaign

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CBC Savings Bank (RSB), in partnership with Rotary Club of Mutya ng Pasig, held a financial literacy forum in Buting Senior High School at San Joaquin, Pasig. Participated by over 300 high-school students, the RSB Financial Literacy Forum sought

to inform and train the young generation on smarter ways of saving and spending.

Facilitated by Cynthia Bartolome, RSB’s product manager for Cards, the forum tackled building the habit of saving and the appropriate financial tools to help the students manage

their allowances more prudently. For starters, RSB’s MyWallet Visa Prepaid Card provides the convenience of safe and managed budgeting without the maintaining balance.

A heed to BSP’s call for financial inclusion and a reaffirmation of RSB’s advocacy toward financial

literacy, the forum was the first of the series RSB will be conducting in the coming months. It facilitates financial inclusion by instilling the habit of saving, even at an early age, through its products. Aligned with this advocacy is RSB’s WISE Savings Account, a deposit product specially

designed for the young ages 21 years old and younger. Aside from helping maximize their savings’ potential through earning an interest, it is also packed with special perks and privileges and comes with free accident insurance. Opening balance starts at P100 only.

Marketing BusinessMirror

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Editor: Efleda P. Campos • Monday, November 26, 2018 E3

‘Mr. Wonderful’ Kevin O’Leary’s

business success principles T

PR Matters

By Bong R. Osorio

YCOONS, entrepreneurs, corporate executives, media and marketing professionals, and venture capitalists in Manila got a taste of the cold, hard truths of business from Kevin O’ Leary, the billionaire business investor famously known as “Mr. Wonderful” in the award-winning business-themed program Shark Tank, during the latest leg of ANC, the ABS-CBN News Channel’s Leadership Series, held recently at the Sofitel Philippine Plaza.

Kevin, a venture capitalist whose “big break” in business came when he sold a software company for more than $4 billion, became famous in pop culture on Shark Tank, where he heads a panel of “shark” judges who grill entrepreneurs who think they have a winning business idea and eventually either invest in the business proposals or reject them.

He shared his insights from decades’ worth of both success and failure in business with his signature nononsense approach to mentorship, beginning with getting a business idea noticed.

The TV judge and mentor, who also authored two best-selling books on business, shared tips for expanding business and based on data gathered from his own companies, some of which could raise the eyebrows of traditional businessmen. One of this is to hire women CEOs, especially in start-up companies where time management and smart targets are integral to overcoming the first initial surge of sales and making it grow from “a $5-million company” to a “$25-million company.” He explained that women tend to set smarter targets, ensuring lower employee turnover and ultimately resulting in more savings and more profit.

“You know that adage, where if you want something done, you give it to a busy mom?” Kevin asked. “It’s true: 95 percent of my returns over the last decade is from private companies run by women.”

The event was moderated by award-winning ANC news anchor Cathy Yang, who also moderated the first edition of the ANC Leadership Series featuring British billionaire and Virgin Group founder Sir Richard Branson in 2016. Cathy also had an exclusive one-on-one interview with Kevin where they discussed investing in the Philippine market, real-estate values,and more, which will air soon on The Boss on ANC. O’Leary is the fifth international speaker brought to the Philippines by ANC, the country’s premier 24/7 allEnglish cable news channel. In the past three years after Branson, ANC also brought in former US Secretary of State Madeleine Albright; Mandalay Entertainment Group Chairman, CEO and Executive Chairman of the Golden State Warriors Peter Guber; and leadership guru Stephen MR Covey. Kevin is the founder of the O’Leary Financial Group, whose business interests include investments around the world, including start-up companies, shared these business principles for success: n It takes 90 seconds, max, to win or lose potential investors. If you’re still talking five minutes later, you’re dead—because in life, in business, in politics, if you can’t explain where you’re going, no one will follow you. n A good business starts from an idea that people will buy into. Nobody has a monopoly on good ideas (including PR ideas). Anyone can come up with a good idea—experience, success, net worth and connections have nothing to do with it.

Those that want it badly will do whatever it takes to bring that idea to life.

Those who make excuses will say, “I had that idea—I just didn’t have the resources to make it happen” when someone else steps up and delivers.

Don’t ever think your idea is too small or you don’t have the ability to bring your vision to life. The only thing that can stop you is excuses. And if you find out that someone already took

Kevin O’Leary

your idea, don’t stress; come up with something else. There will never be a shortage of brilliant ideas. n If you don’t know your numbers, you deserve to burn in hell in perpetuity. The language of business must be measured and you must know your numbers if you want your business to go anywhere, even if you have a winning idea and the right skills. n It’s important to know when to “let go” in business. Entrepreneurs can give a venture a three-year trial period. If you’re still not earning money in three years, it’s not a business. It’s a hobby. Know when to cut your losses if it’s not profitable. n Businesses are not social clubs.

Don’t hire friends or family unless you have the guts to fire them. You want the best manager to run the business. The minute your friend is your employee, they’re not your friend anymore. At the end of the day, it’s the business that matters.

And for business to have longevity, be warned against nepotism and friendship in business, because you should always want to hire the best person for your businesses. n Without risk, there is no reward.

Take risks in business. And when success is found, pass it on and teach it to the next generation. When you’re an entrepreneur, you start a business, you create jobs, and that’s the best thing you can do for people. If you’ve been successful as an entrepreneur, you owe the next generation a road map, not just about your successes, but more important, about your failures to help them not to make a mistake. Waiting until you have several months’ worth of business and personal expenses in reserve will come if you encounter a bumpy launch. Taking that risk without the financial reserve planning is almost suicidal—a single hiccup could spell disaster and complete failure. n Past success doesn’t necessarily guarantee the next idea will be a home run. While it helps, it isn’t always guaranteed. Seek honest feedback and opinions about your idea from outside your inner circle. Family and friends aren’t always going to be brutally honest in fear of discouraging or upsetting you. Feedback from your target market in the early stages can help you engage the breaks on a bad idea before you get too deep. n So much of life is a negotiation—so even if you’re not in business, you have opportunities to practice all around. You should make routine transactions as challenging as possible for those around you on a regular basis. Know everything about the companies and people you are going to be negotiating with. Insist on getting the names of everyone participating in the negotiations. Leave no stone unturned; find out as much as you can. n Whatever you pay attention to grows. Your business requires your full attention in the same respect. Everyone knows that one person full of great ideas, but nothing ever comes to fruition because they are chasing too many things. They spread their

attention too thinly and no idea ever receives the amount needed to grow. n Preparation. Preparation. Preparation. It seems that everyone has a start-up these days and this leads to investors and members of the media being bombarded with pitches every direction they turn. It doesn’t matter what you are trying to attract—an investment or press for your startup—before seeking either, you need

to make sure you are fully prepared.

You might only have five minutes for a once-in-a-lifetime pitch opportunity and you are only in prelaunch media exposure-seeking mode once.

Never assume you will receive a second chance. n To create wealth, pair up with people whose strengths compensate your weaknesses. You aren’t going to be great at everything—it just isn’t feasible. The sooner you can identify your own weaknesses, the sooner you can put people in place to fill those voids. This is how successful organizations are built. Not only will you lose your mind if you try to do everything yourself, but your business will suffer. Align with other individuals who share your same vision and work ethic, but specialize in the areas where you are weak. n The pursuit of wealth is a wonderful thing, but the thing is you must be honest about it. You must tell the truth. You must have the simplicity of purpose and unadulterated joy that your business career has brought you. n Be not afraid to ask for what you want. You can sit there and think about what you want or you can go ahead and ask for what you want.

It’s quite simple—and if you don’t ask for it, someone else will. Don’t

be scared to ask for what you want.

What is the worst that can happen?

If you get turned down, then get back up and ask again. If you fear rejection, you are going to have problems. You need to be able to bounce right back up after getting kicked to the ground. n You need to be flexible while pursuing opportunities. You may be an entrepreneur who has the passion and even the work ethic to succeed, but you may be obsessed with an idea that you don’t see its obvious flaws.

Think about that. If you can’t even acknowledge your failures, how can you cut the rope and move on?

PR Matters is a roundtable column by members of the local chapter of the UK-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Bong R. Osorio is a communications consultant of ABS-CBN Corp., SkyCable, Dentsu-Aegis Network and government projects among others, after retiring as vice president and head of the Corporate Communications Division of ABS-CBN. We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

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Monday, November 26, 2018 E4 www.businessmirror.com.ph |

By Leony R. Garcia & JT Nisay

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EW see the world the same way as A Thousand Concepts Inc. Chief Operating Officer (COO) Lawrence Li Tan, and even fewer has his resolve. The executive bucked the odds and made a name for himself in the hotelmanagement industry. Now, he’s looking to do the same in his latest challenge.

Tan was born in the Philippines as the fourth of five siblings from a family of Taiwanese-Chinese descent. He has an innate bright smile that is now reflected in the establishments he represents, The Infatable Island in Olongapo City and The Dessert Museum in Pasay City. Both pop in color and in spirit, and both perfectly describe Tan's life story: colorful and sweet.

Growing up, you’ll see an average kid that is always playful, yet responsible to his brood.

He has been independent on his studies and his grades grew directly proportionate to his efforts.

He finished high school in running for class valedictorian. But fate was not always favorable with him when his father was diagnosed with cancer and lost him after a year of suffering.

The loss affected the Tan family’s dynamics in multiple ways. The family had to move to a crumbling condominium unit and live within their means. His Mama Rosa was left to support five children through her salary as a manager of a Chinese restaurant.

The ordeal taught the children about resilience and resourcefulness. They helped each other get by from selling anything, from snacks to clothes. Lawrence, for his part, had to enter an affordable school for college and work on the side. He enrolled at the Centro Escolar University (CEU) Manila on a scholarship grant and took on a student-assistance post.

Tan wanted to become a flight attendant, to see the world, which is why he took up BS Tourism. On his last year in college, he took the opportunity to participate in the US Work and Travel program. It is a cultural-exchange activity where he was first assigned in Frenchman’s Creek Beach and Country Club in Grand Canyon, Arizona, as a trainee. He wasted no time to earn in order to cover up with the expenses of this program. He took every opportunity as a learning experience, from being a public-area attendant, food-andbeverage staff to other random jobs that can be assigned with him. He then returned home for his graduation and was asked by the company for another year of internship, now equipped with a degree and more resilience to be a key player in the Philippine tourism and hospitality industry.

Back home, opportunities knocked at his door—chances that were once only a dream that came in the form of her mother’s words: He had a shot to build and design hotels. He wasted no time in seizing the opportunity and in making the most out of it. At the age of 28 he has built and designed seven hotels. With the clearance of one goal, of course, came another. This time, Tan wanted to open not just doors of hotels he designed, but windows for employment in different parts of the country.

“I gauge success based on productivity,” Tan said. “If I open more hotels, for me, that would mean more employment for the communities.”

But what is striking about Lance the most is his management insights and what he values most: People. To him, his employees are like his family—he would care for his family like his own, personally hand you cash when he learns that the kid of an employee is sick, ask his staff to pass the hat when a family member of his employee passes away.

“Don’t work for me. Work with me.” He clearly makes known that everyone plays an important role. From the lowest position in the organization and up to the top level, he recognizes the important role that they’re playing. He does his best to pull everyone together to build

the company as a team and make everyone feel a sense of the ownership of the company. As he always point out, act and think like the owner of the company, so you will never neglect your duties. There has to be elements of respect, trust, commitment and reasonable expectations.

When there are things that he has to teach to his employees, he shows them by being a good example. “I don’t tell them what to do, I show them how to do it.”

He does not slow down and is always on the lookout for what’s next, what can be done better.

His continuous search for challenges led him to a new job in January as the COO of A Thousand Concepts Inc., the company behind what stands as the largest inflatable playground in Asia; and the unique museum of sweets that, in his words, are “millennial concepts” that are “truly different” and, more important, “out of this world.”

Giving back comes natural for Tan. When not at work, he’s engaged in various relief operations and medical missions in places where his company conducts business. Most recent he was part of the World Clean Up impact workshop in Quezon City and the Bags to School program in Central Mindanao.

Tan is committed in guiding the youth, as well as being a teacher at heart and by profession. Apart from his job, Tan finds fulfilment in sharing his knowledge and experiences to the students of his alma mater, in his numerous career talks. He is also teaching in Arellano University Jose Abad Santos Campus in Pasay City, where he is handling Practicum. He said, he can offer outright job placement if he sees his students’ potentials. These students remind me of who I was as a student—full of energy and ideals.

Aside from schools in the Metro, he used to teach in University of Nueva Caceres and the University of Northeastern Philippines in Naga City, to name a few. Tan also published three books that are now being used by students of hotel and restaurant management.

This commitment to help the younger generation transcends the classroom setting. Tan is also the 2019 Executive Treasurer of JCI Makati, motivated by the chance to help people grow and to create more leaders.

It’s a lot of work, but certainly not for Tan. If anything, he even wants more—something in line with what he has always sought after accomplishing the amount of tasks that many people would call enough—something more challenging, more compelling. He wants something more ambitious.

“Right now, to reach more of the young generation, I’m also testing the waters for a television show,” Tan said. “We tried doing one segment. But right at this moment, if you ask me, 99 percent hindi ko tatanggpin kasi hindi ko forte.

Magtayo na lang tayo ng hotel. Still, let’s see.”

Always leaving the door open for opportunities. Always looking for what’s next of what is.

This is just how Tan is wired. This is exactly why after conquering the world of hotel management, doing consultancy, opening properties across the country, serving the younger generation and giving back to the community, Tan finds himself with a company that prides on business models that, like himself, are out of this world. A Thousand Concepts Inc. introduced the country to Ball Pit Manila in Makati, Inflatable Island in Olongapo and Dessert Museum in Pasay. It would be amiss if anyone is to assume that a company with Tan as COO would even consider resting on its laurels.

The group is preparing to open soon The Happy Beach in Cebu, the first bohemian carnivallifestyle resort in the Philippines, with every nook and cranny designed to be “Instagramable”. Also in the pipeline are projects in Davao and Bataan, not to mention plans to build regional museums.

“Watch for it,” Tan said. “Iba ‘to.”

Of course it is.