BusinessMirror October 01, 2018

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INDONESIA TSUNAMI TOLL TOPS 800 AMID SEARCH FOR SURVIVORS P ALU, Indonesia— Rescuers in Indonesia were scrambling on Sunday to reach trapped victims screaming for help from collapsed buildings, while looters risked entering an unstable shopping mall to grab whatever they could find after a massive earthquake spawned a tsunami that left moret than 800 dead. People could still be heard calling out from the eightstory Roa-Roa Hotel, which toppled as Friday’s twin disasters swept through the hard-hit city of Palu on the island of Sulawesi, said Muhammad Syaugi, the head of THIS is what's left of a shopping mall following earthquakes and a tsunami in Palu, Central Sulawesi, Indonesia, on September 30. A tsunami swept away buildings and killed hundreds on the Indonesian island of Sulawesi. AP/TATAN SYUFLANA

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Indonesia’s search and rescue agency. “I can still hear the voices of the survivors screaming for help while inspecting the compound,” he told local online news portal Detik.com, adding there could be 50 people trapped inside. Disaster agency Spokesman Sutopo Purwo Nugroho told a news conference Sunday that the death toll had more than doubled to 832, with nearly all of those killed in Palu. He said there were still no comprehensive reports about casualties in surrounding coastal areas. “The death toll is believed to be still increasing, since many bodies were still under the wreckage, while many have not been reached,” he said. Continued on A6

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Monday, October 1, 2018 Vol. 13 No. 352

‘Economy stable despite lower growth forecasts’ 6.4% T By Cai U. Ordinario

@cuo_bm

HE National Economic and Development Authority (Neda) remained confident that the country’s macroeconomic fundamentals will hold despite the lower growth forecasts released by international agencies for the Philippines, while the International Monetary Fund (IMF) predicted a quick recovery for the country despite the still lingering risks owing to internal and external factors.

In a statement on Sunday, Socioeconomic Planning Secretary Ernesto M. Pernia noted the de-

cision of the Asian Development Bank (ADB) and Fitch Solutions to cut their GDP growth forecasts in

2018 and 2019. T he A DB dow ng r ade d it s growth forecast to 6.4 percent,

A

@BNicolasBM

NALYSTS said the executive issuances released by Malacañang last week can help moderate inflation, but they also believe the government must exert more effort in improving agriculture in order to fully address the problem, especially for the medium to long term. Malacañang released last week Administrative Order (AO) 13 on removing nontariff barriers and stream lining administrative procedures, as well as three memorandum orders listing the other government measures to curb inflation. Notably, the AO also authorized the National Food Authority Council to approve additional rice importation beyond the minimum access volume (MAV) commitment specified under Executive Order 23, series of

Task Force Boracay warns resorts: Don’t cheat on compliance By Ma. Stella F. Arnaldo

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@akosistellaBM Special to the BusinessMirror

from 6.8 percent for 2018, and to 6.7 percent, from 6.9 percent in 2019. Fitch Solutions, a member of the Fitch Group, also cut its 2018 growth outlook for the country to 6.3 percent from 6.5 percent.

ORACAY ISLAND, Malay, Aklan—The interagency Task Force Boracay is targeting to have some 5,000 rooms available by the time this popular resort island wakes up from its “beauty rest” on October 26. In a brief interview with the BusinessMirror, Task Force Chairman and Environment Secretary Roy A. Cimatu said 1,000 rooms will be made available each day during the government’s dry run for the island, from October 15 to 25. “By October 26 we will reach 5,000 rooms; first day [of the dry run], 1,000 rooms; second day, another 1,000; third day, another 1,000 rooms, and so on.” He added that each hotel participating in the dry run “will be given a quota. Let’s say 200 [guests] for one hotel, we will able to test them. Another hotel, another 200 guests.” So far, the Department of Tourism (DOT) has accredited only 25 resorts with some 2,000 rooms based on submissions to them by the Department of Environment and Natural Resources (DENR) and the Department of the Interior and Local Government (DILG) of compliant establishments.

See “Economy,” A2

Continued on A2

The average growth of the Philippine economy in the last eight years, “the fastest since the mid1970s,” according to the Neda chief

Fast-tracking Security of Tenure bill seen at Senate

These damagecontrol measures could moderate inflation slightly but at the cost of undermining agriculture and our food security over the long run. The country cannot be made captive to the production decisions of agricultural exporters nor subject to rising prices from a peso in chronic decline.” —IBON’s Africa 2017, for allocation to the private sector, subject to conditions imposed by Republic Act 8178, or the Agricultural Tariffication Act of 1996. The latter allows importation of certain agricultural products beyond MAV upon payment See “Inflation,” A2

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Inflation busters just short-term fix; farms need govt help–experts By Bernadette D. Nicolas

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By Butch Fernandez @butchfBM

& Jasper Emmanuel Y. Arcalas

W DUCK, COVER, HOLD Workers walk calmly in front of the Philippine Stock Exchange building in Bonifacio Global City during the BGC’s city-wide earthquake drill on September 27. The drill was meant to ensure the safety of BGC residents, workers and visitors, who were encouraged to remain calm, and follow the “duck, cover and hold” key reminders. They were also told to remember safe rally points where everyone can converge and be assisted by disaster response teams. The Philippines has been holding earthquake drills periodically in preparation for the “Big One.” On Sunday its neighbor Indonesia experienced a powerful 7.5-magnitude earthquake on Sulawesi island, followed by a tsunami. Story on top of page. NONIE REYES

@jearcalas

ITH President Duterte having certified as urgent the measure ending illegal contractualization and “end of contract” (endo) practices, the Senate leadership has committed to pass their version of what is billed the “Security of Tenure” (SOT) bill before the next session break in October, with hopes of ensuring enactment into law soon after. This, as a member of the House of Representatives suggested that the Senate incorporate the House of the Representatives’s own SOT bill into their own version to fasttrack the approval of a law by

n JAPAN 0.4785 n UK 70.9820 n HK 6.9416 n CHINA 7.8750 n SINGAPORE 39.6658 n AUSTRALIA 39.0933 n EU 63.1644 n SAUDI ARABIA 14.4670

Continued on A2

Source: BSP (28 September 2018 )


News

BusinessMirror

A2 Monday, October 1, 2018

Rice tariff law to be enacted by year-end, PHL tells WTO By Jasper Emmanuel Y. Arcalas

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@jearcalas

ANILA has assured once more the World Trade Organization (WTO) that it maintains to pass its rice tariff law before the year ends, the BusinessMirror learned. The Philippine representative made the statement before WTO member-countries during the Committee on Agriculture (COA) meeting on September 25 and 26, according to a Geneva trade official. The Philippines’s statement was a response to Australia, which sought an update on Manila’s timeline for the passage of the rice tariff bill. “Australia notes that a bill that

amends the Agricultural Tariffication Act [aims to replace quantitative restriction on rice with tariffs] has been approved in the House of Representatives, but it is still pending in the Senate. President Duterte has certified as urgent the passage of the bill during his third State of the Nation Address on 23 July 2018,” Canberra said. “What is the expected timeline

for the passage of this bill?” it added. The Philippine representative to the meeting said that the country targets “to complete the legislation before the end of this year,” according to the official privy to the discussions. According to the trade official, the Philippine representative explained that the rice tariff bill has been passed by the House of Representatives but the Senate is still deliberating on its own version of the measure. The bill would convert the country’s quantitative restriction (QR) on the staple, which is in compliance with the Philippines’s commitment to the WTO, into a tariffication system The Philippines has been in breach of its commitment for over a year now after its waiver on the special treatment on rice expired on July 1, 2017. The rice waiver allowed the country to extend its

right to impose QR on the staple. The Geneva trade official said nobody from the WTO membercountries challenged the Philippines’s statement on its rice tariffication update. During the last WTO COA meeting in June, the Philippines assured member-countries that it will exhaust its resources to pass the law immediately. “The Philippines would, however, like to reassure members that the Philippines will continue to work hard and further enhance its best efforts, within the limits of its resources, so that a rice tariffication law can be enacted at soonest possible time—hopefully this can be done within this year,” the country said. The consolidated rice tariff bill crafted by the Senate Committee on Agriculture and Food has been pending for second reading since September 17.

Fast-tracking Security of Tenure bill seen at Senate Continued from A1

shortcutting the bicameral conference committee process. The Senate “will try before this break,” Senate President Vicente Sotto III said, in reply to a query from the BusinessMirror on whether, given Duterte’s September 21 certification, the senators w il l move to frontload its consideration for early plenary deliberations. Asked if he sees the Senate passing it before the long Christmas recess, he said they, in fact, want it done before the break from October 13 to November 11. Sen. Emmanuel Joel J. Villanueva, chairman of the Senate Committee on Labor, Employment and Human Resources Development, and prime champion of the SOT bill, said their panel had scheduled it this week for plenary debates. “We hope and pray that we’ll be able to pass it before Christmas break, pamasko namin sa ating mga dakilang manggagawa [as our Christmas gift to our great workers].” In late-May Villanueva released Committee Report 392, embodying Senate Bill 1826, or “An Act strengthening workers right to security of tenure, amending for the purpose articles 106, 107, 108

Inflation. . . Continued from A1

of appropriate rates of duties and compliance with other conditions specified therein. The order added that the DA shall issue the appropriate Certificate of Necessity to allow importation of adequate volumes of fish to augment the 17,000 metric tons of fish imports already being distributed in the market. Economist Calixto V. Chikiamco, president of Foundation for Economic Freedom, agreed that the executive issuances will moderate inflation in the coming months, but noted that this will only happen “if oil prices don’t spike due to the Iran sanctions effective November” and “if the government doesn’t yield to demands for wage increases.” If the wave of US sanctions targeting Iran’s oil and gas industry cuts Iranian oil supply completely, oil prices are seen to reach above $100 per barrel, according to an industry expert. Iran is the third-largest oil producer among the members of the Organization of the Petroleum Exporting Countries. Sanctions against Iran were reimposed after US President Donald

and 109 of Book III, and Articles 294 [279], 295 [280], 296, [281], and 297 [282] of Book VI of Presidential Decree 442, otherwise known as the Labor Code of the Philippines, as amended?” For his part, Sen. Francis G. Escudero, who chairs the Banks committee and is an advocate of the SOT bill, was even more optimistic of early passage. “Definitely! In fact, probably even before we go on recess this October,” he told the BusinessMirror by way of SMS. Escudero said he “talked to the Committee Chairman [Villanueva] and Majority Leader [Sen. Juan Miguel F. Zubiri] about this...and that is precisely what they already plan to do. We expect it on the floor by next week,” referring to the first week of October. Sen. Aquilino L. Pimentel III promised the chamber’s “best effort,” adding, “but that has been a priority ever since” Duterte listed the end to endo as his administration’s priority for endorsement during his third State of the Nation Address (Sona) in July. Duterte wrote the letter to Sotto dated September 21, requesting the “immediate enactment” of Senate Bill 1826. Reacting to that letter, Villanueva said, “We laud the move of the President certifying our security of

tenure bill as a priority measure. It is important that we pass this into law to finally put an end to work schemes like endo and labor-only contracting.” According to Villanueva, the practice of contractualization affects more than 1.9 million workers in the private sector. Overall, about 3 out of 10 Filipino workers are not regular and 1 out of 2 nonregular workers are contractual. Once passed into law, Villanueva said the measure would remove the ambiguities in the Labor Code, which is the source of circumventions, and: (a.) prohibit labor-only contracting, and provide penalties for violation; (b.) limit job contracting to licensed and specialized services; (c.) classify workers into regular and probationary employees—and treat project and seasonal employees as regular employees; (d.) provide security of tenure; (e.) clarify standards on probationary employment; and (f.) provide “Transition Support Program” for employees while they are not at work or transitioning in between jobs. “Senate Bill 1826 is clear enough to meet the interests of the labor sector and the interests of the business sector,” the senator said. The Security of Tenure bill

is “pro-labor, pro-business and pro-Filipino,” he declared, while assuring businessmen and employers anxious about the impact on their bottomline that ending abusive work schemes will also benefit industries.

J. Trump’s decision to withdraw the US from the Iran nuclear deal or the Joint Comprehensive Plan of Action. Meanwhile, businessmen also see another inflation trigger in the possibility of new wage hikes being mandated. Minimum-wage earners in four regions in the country may soon finally get additional pay, the Department of Labor and Employment said last week. Chikiamco also did not rule out the possibility that this projection of higher inflation in the coming months may soon become a reality even with the executive issuances touted as inflation busters. “Oil prices may also spike when Iran sanctions bite. Food and oil are main inflation drivers,” he said in a message to the BusinessMirror. “But let’s see if the peso strengthens as remittances come nearing December.” Still, Chikiamco noted it is important for the medium term that the government look into the country’s low agricultural productivity and weak export growth, which makes the Philippines vulnerable to inflation spiked by food shortages and a sharply depreciating peso. For Jose Enrique A. Africa, executive director of IBON Foundation, the executive issuances are “damage-control measures,”

adding that the administrative order ironically will just cause even more long-term damage to domestic agriculture, displacement of farmers and fisherfolk, and lead to future inflationary pressures. “These damage-control measures could moderate inflation slightly but at the cost of undermining agriculture and our food security over the long run. The country cannot be made captive to the production decisions of agricultural exporters nor subject to rising prices from a peso in chronic decline,” Africa told the BusinessMirror in a message. He also warned that the administrative order is even turning out to be a “Trojan Horse exploiting the current inflation crisis to advance the economic managers’ ideological agenda of liberalizing agriculture.” “It is so odd,” he added, “that our economic managers still insist that liberalization will develop domestic agriculture. Countries that have long protected and continue to protect their agricultural sectors for good reason include Vietnam and Thailand, who we import rice from, as well as advanced industrial powers such as the United States, European Union and Japan.” Importation of farm and fishery products in case of tight domestic

supply should only be a short-term emergency measure, according to Africa. Although the administrative order places good emphasis on measures to reduce red tape, it also actually contains a few concrete things, Ateneo School of Government Dean Ronald U. Mendoza said. He said the administration can seize this opportunity to finally think of institution-building policies ,“instead of three- or six-month shortcuts based on threats and fear of replacement for officials.” “The discussion on ‘lowering’ nontariff barriers is inevitably a capacity building and institutions-enhancing exercise. Things like setting up e-governance, lessening red tape and processing time, and reducing people-to-people interaction and discretion so as to reduce corruption,” Mendoza told BusinessMirror. “The administration can seize this moment to start a comprehensive and meaningful reform effort on agencies that have traditionally [not just under Duterte, so to be fair he inherited some of these problems, too] been underperformers: Customs, NFA [National Food Authority], Department of Agriculture and MMDA [Metropolitan Manila Development Authority], among others,” Mendoza added.

‘Merge House, Senate versions’

MEANWHILE, Rep. Bernadette Herrera-Dy of Bagong Henerasyon Party-list said the incorporation of the House version into the Senate’s SOT version would speed up the process as it would no longer require convening a bicameral conference committee. “To speed up the process, the Senate can incorporate the House version into their consolidated bill based on SB 1826, so that there would later be no need to convene a bicameral conference committee. All that would be needed is House concurrence to the approved Senate version because the effect of that is the same as ratification,” Dy said in a statement on Sunday. Dy is a coauthor of House Bill 6908, which seeks to end contractualization in the country. “Amending the Labor Code is just half the battle because there are at least 660,000 contractuals, job orders and casuals working in government now,” she said.

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Task Force Boracay warns resorts: Don’t cheat on compliance Continued from A1

The DENR has said it has 31 fully compliant hotels out of 81 that have been identified for reopening by October 26. In a separate interview, DILG Officer in Charge Eduardo M. Año said that out of the 2,500 facilities checked by his agency, “890 are compliant. Out of the total 430 hotels, 225 are compliant. “When we say ‘compliant,’ this means they have the mayor’s permit, building permit, fire safety inspection certificate, sanitary permit and Pag-IBIG membership for their workers.” He said the hotels still have to be accredited by the DOT, and expressed confidence more accommodations will be announced by October 15, the start of the dry run. “Some of them are already 95-98 percent compliant [with the DILG/ DENR permits].” He stressed that the processing of permits, clearances and accreditations will be “continuous. It doesn’t mean that just because October 15 has passed, you won’t be able to open your establishment. [We will process your papers] until you complete all your requirements.” Año, however, railed against “stubborn rich establishments,” which refuse to file their papers and submit their requirements for reopening. Mentioning a large chain of beachfront resorts, he emphasized, “No! They’re not on our list [of compliant estab-

Economy. . . Continued from A1

We understand the concerns of ADB and Fitch, but we remain confident about the strength and stability of the country’s macroeconomic fundamentals,” Pernia said. The International Monetary Fund (IMF) on Friday forecast faster growth for the Philippine economy in the second half of 2018, saying that the slowdown in the second quarter was only temporary. It forecast 6.5-percent growth for the whole of 2018, lower than the lender’s earlier projection of 6.7 percent. For 2019 it projected GDP to grow by 6.7 percent. In a briefing, IMF Resident Representative to the Philippines Yongzheng Yang said they expect a 6.6-percent growth in the third quarter and 6.9 percent in the last quarter, which would translate to a 6.6-percent average output for the second half. Aside from higher government spending, particularly on infrastructure projects, Yang said private investment, which he said remains “robust,” and household spending, are seen to drive domestic output in the second half. The IMF executive said contribution of external factors on domestic output “will probably be more modest because global demand will be slowing. “How that affects the Philippines will be watched but might expect some headwinds,” he said. Nonetheless, Yang said the Philippine economy remains among the top performers and that growth outlook remains favorable. But risks remain, he said, citing the rising inflation, the strong growth of credit to GDP ratio, and global trade tension. IMF forecasts the rate of price increases to average at 4.9 percent this year and 3.9 percent next year, with this year’s forecasts above the government’s 2-4 percent target band. These factors are seen to be countered by the passage of the bill rationalizing fiscal incentives and the shortening of the negative investment list. The IMF’s outlook faces downside risks particularly high inflation, oil prices, credit growth, the trade war between US and China, the impact of higher US interest rates and more expensive borrowing costs in the short term.

‘Fastest since ’70s’

ON Sunday, however, the Neda chief sounded unfazed. “Our economy has been strong, growing by an average of 6.4 percent in the last eight years. This is the fastest since the mid-1970s,” according to Pernia. However, Pernia gave assurances the government is already undertaking reforms to address inflation and other concerns raised by ADB and Fitch. Pernia said the President has already

lishments]. They cannot operate, if they are not compliant. That won’t work for us. This is the law; nobody is above the law.” Hinting that he is aware that the resort chain’s owner is trying get his establishments reopened by October 26 using his political connections, Año retorted: “He should get a padrino; he can make his request through Xi Jingping or Trump!” G o v e r n me nt s ou rc e s a l s o noted that they had yet to see a resort affiliated with a foreign chain of hotels on any compliant list. “A lthough we are aware they are already writing guests and booking visitors,” the sources disclosed. Under the reopening guidelines of the task force, hotels and resorts need to pass the requirements of the DILG, secure their environmental clearances from the DENR, then secure their accreditation from the DOT. Beachfront resorts with 50 rooms and above, for instance, need to build a sewerage-treatment plant. The task force met on Friday afternoon to approve several environmental and reopening guidelines, including the prohibition of beach beds within the 30-meter easement on the white beach; no smoking in public places; no drinking of alcohol while walking on the beach; banning of fireworks before 9 p.m.; among others. signed Administrative Order No. 13 which removes nontariff barriers in the trade of various commodities. The AO was released on September 25, 2018. He said the government is keen on streamlining administrative procedures on the importation of agricultural products among its measures to counter high inflation.

Inflation busters

“BESIDES short-term measures, we also need to look at long-term solutions like giving farmers access to farming technology and developing high yielding varieties of rice and other vegetables. Thus, we are calling for the urgent passage of the rice tariffication bill,” he added. Further, Pernia said the Duterte administration continues to ramp up investments in infrastructure to improve connectivity and lower the cost of doing business in the country.

Easing restrictions

EFFORTS to liberalize sectors of the economy to allow more investments is being done through the removal of foreign restrictions included in the Regular Foreign Investment Negative List (RFINL). Pernia said the Economic Development Cluster has already approved the draft of the 11th RFINL, which will be the least restrictive among previous amendments made on the country’s negative list. This is now with the President for his signature. The reduction of the negative list is also one of the main points discussed by Pernia at the recent Philippine Economic Briefing in London. The draft executive order on the 11th RFINL eases foreign restriction on private recruitment for local and overseas employment; practice of select professions; and construction and repair of public works projects. The EDC also removed foreign restrictions on the culture, production, milling, processing and trading of rice and corn; teaching at higher education levels; and retail trade. Pernia, however, said not all areas can be adjusted by an executive order. Some need legislation, while others, constitutional amendment. “Compared with our neighbors, the Philippines seems to be the most restrictive in terms of foreign direct investments. We have many negative-listed investment areas and activities, meaning that there is a high restrictive wall on the participation of foreign investors,” Pernia said “We hope to boost foreign investments in the country by means of lifting or easing such restrictions.” The Neda is tasked to review and revise the country’s RFINL, which contains restrictions on foreign investments and the practice of professions based on the constitution and Philippine laws.With a report by PNA


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‘BusinessMirror’ reaps honors in DOST’s 1st Bantog Awards

CA upholds ruling vs PCG official in ₧689.6-M anomaly By Joel R. San Juan @jrsanjuan1573

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STEPHANIE TUMAMPOS (left), along with BusinessMirror Editor in Chief Lourdes M. Fernandez and Science Editor Lyn Resurreccion pose with Science Secretary Fortunato dela Peña after the Bantog awards rites. NONIE REYES

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HE BusinessMirror and BusinessMirror’s science writer and photojournalist Stephanie Tumampos were among the big winners of the first-ever “Bantog Science for the People Awards” of the Department of Science and TechnologyScience and Technology Information Institute (DOST-STII) held at the PICC on September 28. The BusinessMirror received the Bantog award for Best S&T Media Institutional Award for Print, while Tumampos won first prize in the Outstanding S&T Professional Media Practitioner Award for Print, which had a P100,000 cash reward. The newspaper, represented by Editor in Chief Lourdes M. Fernandez and Science Editor Lyn Resurreccion, and Tumampos received trophies based on a design by national artist, Abdulmar Imao. “Bantog,” which means eminent in English, is the DOST’s way of recognizing prominent individuals who have raised the bar in promoting and communicating science to the public, DOST-STII

Director Richard Burgos explained in his welcome remarks at the awarding rites. The tagline, “Science for the People,” was adopted “because if we look at the laws that established the Department of Science and Technology, they boiled down the mandates of DOST into, simply, promoting science to the benefit of the people.” Other winners of the Best S&T Institutional Award are DZEC Radyo Agila for Radio, Panahon TV for Television and GMA Social Media Section for the Cyber Press category. For the Outstanding S&T Professional Media Practitioner Award for Print, Marid Agribusiness Digest’s Henrylito Tacio placed second and Malaya Business Insight’s Paul Icamina placed third. In the Television category, Connie Sison of GMA Network, Bettina Magsaysay of ABS-CBN and Michael Joe Delizo of ABS-CBN won first, second and third place, respectively.

Custer Deocaris, Josephine Agapito and Anabelle Surara, all from DZEC Radyo Agila, won the first, second and third place, respectively in the Radio category. The winners of the Cyber Press category were Mikael Angelo Francisco of GMA News Online for first place, Ruby Shaira Panela from Rappler for second place and Angelica Yang, a freelance journalist, for third place. Another award in the regional level was given to Sun Star Pampanga’s Ian Flora as Outstanding Regional Media Practitioner. DOST-STII also recognized their information officers with the Bantog Award for Outstanding S&T Information Officer Award: Maria Elena Talingdan of DOST National Research Council of the Philippines won first place, Hans Joshua Dantes of DOST Philippine Nuclear Research Institute placed second and Sheila Marie S. Claver of the DOST Cordillera Administrative Region placed third.

Editor: Vittorio V. Vitug • Monday, October 1, 2018 A3

HE Court of Appeals (CA) has upheld the rulings issued by the Office of the Ombudsman that found another official of the Philippine Cost Guard (PCG) liable for the irregular release and utilization of cash advances amounting to P689.6 million in 2014. In a 17-page decision penned by A ssociate Justice Zenaida Galapate-Laguilles, the CA’s Special Sixteenth Division denied the petitioner filed by PCG Cdr. John B. Esplana seeking the reversal of the Ombudsman’s resolution issued on July 19, 2017. The Ombudsman found him and 24 other coast guard officials guilty of serious dishonesty, grave misconduct and conduct prejudicial to the interest of the service. The Ombudsman imposed upon him the penalty of dismissal from the service. The appellate court did not give credence to Esplana’s claim that he had no participation in the transactions since he did not have the power to approve, authorize or recommend disbursements, including case advances. He explained that his duties were primarily on matters related to internal control and largely advisory in nature. Furthermore, Esplana claimed that he signed disbursement vouchers only after ensuring the propriety and completeness of supporting documents and that he had no

custody of the funds and property. However, the CA said it is Esplana’s duty as internal auditor to check the extent of compliance and to review the systems established to ensure that government policies, plans and procedures are complied with. Likewise, the CA said it is the petitioner’s duty to determine the extent to which the assets and other resources of the PCG are accounted for and safeguarded from losses of all kinds. The CA noted that, based on the record, Esplana repeatedly signed the disbursement vouchers, and special cash advances were repeatedly issued despite noncompliance with the rules by the special disbursing officer (SDO). Esplana signed the fiscal control portion of the disbursement vouchers as internal auditor. Fiscal control, according to the CA, includes monitoring the agency’s expenditures and ensuring that cash advances are liquidated prior to the grant of new ones. “In other words, his function serves the purpose of check and balance. Esplana was a high-ranking PCG official at that time,” the CA said. “Esplana’s acts of affixing his signature on the subject disbursement vouchers are not empty formalities. His responsibility involved ensuring that every transaction is compliant with the law he is mandated to follow.” “Based on all the foregoing, this Court finds no reason to overturn

the findings of the Office of the Ombudsman, that Esplana, along with the other responsible officers, committed grave misconduct,” the CA added. “Esplana’s serious dishonesty, likewise, merits his dismissal.” Concurring with the ruling were Associate Justices Stephen Cruz and Geraldine Fiel-Macaraig. The case stemmed from an anonymous complaint received by the Ombudsman about the supposed anomalies in the utilization of PCG funds, particularly with respect to the liquidations of cash advances and the reimbursements of expenses for the year 2014 based on the Audit Observation Memorandum issued by the Commission on Audit (COA) on April 15, 2015. As indicated in the COA report, PCG’s general ledger showed that cash advances granted to 21 SDOs totaled to P689,640,806 as of December 31, 2014, with total liquidations of P633,612,786. The cash advances were authorized and recommended by thenVice Admiral Rodolfo Isorena, Captain Joeven Fabul, Esplana and Accounting Head Rogelio Caguioa, in their respective capacities as commandant, deputy chief for comptrollership, internal auditor and accounting head. Based on COA’s report, the disbursement vouchers showed that they lacked the required office orders duly designating the respective recipients as SDOs.


Economy BusinessMirror

A4 Monday, October 1, 2018 • Editor: Vittorio V. Vitug

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Government may scrap ‘special’ permits for foreign contractors T

Neda reviews proposal for MRT 10, 2 other infrastructure projects

THE Bicol International Airport Development project is one of the infrastructure projects under the “Build, Build, Build” program of the government. It aims to develop a new airport that meets international standards in Daraga, Albay, and replace the existing Legazpi Airport. The project, which could be completed by 2020, costs P4.78 billion. PHOTO TAKEN FROM BUILD.GOV.PH

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By Cai U. Ordinario

nomic Development Cluster. “There are certain regulations, permitting requirements that need to be reviewed with respect to their hindering the entry of players,” Tungpalan said. He said making it easier for foreign firms to do business augurs well for the government’s “Build, Build, Build” (BBB) program, which aims to address long-standing infrastructure gaps in the country. The Neda official said there are certain regulations that require foreign contractors to secure special licenses that can only be used for a limited number of projects. This is cumbersome and could discourage investments in the construction sector. Tung palan said addressing

@cuo_bm

HE national government is keen on removing licenses and other regulations that hinder the entry of foreign investments in the country, according to the National Economic and Development Authority (Neda). In an interview, Neda Undersecretary for Investment Programming Rolando G. Tungpalan told the BusinessMirror the government is now reviewing regulations in construction and agriculture.

Tungpalan said these efforts are being done by the government to accompany the proposed 11th Regular Foreign Investments Negative List (RFINL), which has already been drafted by the Eco-

their regulations will also help the Philippines sustain the positive growth in the country’s total factor productivity (TFP). He said the country’s TFP is now at 3 percent, the highest in Southeast Asia. “We celebrate these gains but we continue to work hard with our sights set on our development goals,” he said in a recent statement. “The Foreign Investments Negative List is now up for the President’s signature, and we are currently reviewing the list of government agencies whose mandates are hindering competition and growth in their sectors,” he added. Tungpalan also underscored the need to boost science, technology and innovation (STI) and research and development (R&D), particularly in the agricultural sector to help farmers adapt to climate change and increase farm productivity. By estimates of the Department of Agriculture, Typhoon Ompong (international code name Mangkhut) cost the agricultural sector P26.7 billion and affected 570,521 farmers and fishermen and 755,361 hectares of land. “With stronger typhoons expected to dampen our productivity, we need to adapt by investing in STI and R&D, particularly to increase crop resiliency, yield and overall productivity of farms,” he said. The National Disaster Risk Reduction and Management Council reported the cost of damage from climate-related disasters has been increasing from 2011 to 2016. The annual average cost of damage to properties due to natural disasters amounted to around P46.74 billion from 2000 to 2016, translating to an average annual loss of 0.40 percent of the country’s GDP.

OWWA gives cash aid to families of OFWs affected by Ompong By Samuel P. Medenilla @sam_medenilla

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LMOST 6,000 overseas Filipino workers (OFWs) and their families affected by Typhoon Ompong (international code name Mangkhut) have received cash aid from the Overseas Workers Welfare Administration (OWWA). OWWA Administrator Hans J. Cacdac said the majority, or 3,362, of these beneficiaries of their Welfare Assistance Program were from Cagayan Valley region.

The program also benefited 1,333 from Itogon, Benguet, and 1,029 in Ilocos region. “So far, P16 million has been released [by OWWA] for the cash assistance for OFWs,” Cacdac said in a Twitter post. As of September 17, the National Disaster Risk Reduction and Management Council reported that Typhoon Ompong affected 591,762 people. Aside from floods, the typhoon also caused landslides in Itogon, which killed at least 78 people.

The incident prompted the Department of Environment and Natural Resources to suspend small-scale mining in the Cordillera Administrative Region (CAR). Based on the initial estimates of the Department of Labor and Employment (DOLE) in CAR, around 12,000 workers will be affected with the new policy once it takes full effect. DOLE Financial and Management Service Director Warren M. Miclat told the BusinessMirror in an ambush interview the de-

partment is now assessing if there are enough funds to provide aid for the said workers. “We are not sure if we can accommodate all of the 12,000 workers. If we will still need more funds, we may request from the Office of the President especially since this is calamity-related,” Miclat said. “But this will be subject to their approval and with the recommendation of the Department of Budget and Management,” he added.

HE Nat iona l Economic a nd D e v e l o p me nt A u t hor it y ( Ned a) i s c u r rently scrutinizing at least three major unsolicited infrastructure projects, including a new rail line that will run parallel to the country’s first subway. In an interview over the weekend, Neda Undersecretary for Investment Programming Rolando G. Tungpalan said the new rail line, the Metro Rail Transit (MRT) 10, will connect Commonwealth to the Ninoy Aquino International Airport (Naia). “MRT 10 [will be on] Commonwealth, [run perpendicular to] MRT 7 in Tandang Sora, and pass by Katipunan up to FTI [Food Terminal Inc.], even the Naia. It will be parallel to the [Metro Manila] Subway,” Tungpalan said. Transportation Undersecretary Ruben S. Reinoso told the BusinessMirror that C5 Mass Transit Corp. Ltd. proposed the railway. Reinoso said the company’s local partner is George Uy, one of the original proponents of MRT 7 before San Miguel Corp. took over the project, while the foreign partner is construction firm Sumitomo. He said the MRT 10 will also be a build-operate-transfer initiative, similar to the MRT 7 which the government will amortize for 25 to 30 years and the proponent will operate for the next 30 to 35 years. Reinoso added that the government will also have a share in the revenues of the MRT 10. He added that even if the railway will run parallel to the Metro Manila Subway, the company believes it will remain financially viable. “There is so much traffic on that corridor,” Reinoso said. “Their worst-case scenario is that 10 percent their riders will shift to the Subway. Even at that rate, they said, the line will remain financially viable.” Based on Public Private Partnership (PPP) Center data, the MRT 10 project involves the design, building, operation and maintenance of the approximately 22.5-kilometer mostly elevated Light Railway Transit (LRT) System consisting of 16 stations. The railway will traverse the circumferential road C-5 connecting the Naia Terminal 3 to Quezon City, terminating at Commonwealth Avenue with possible interchange with MRT 7 at Tandang Sora Station and LRT Line 2 at Aurora Station. Trains will be

DOTr must regulate transport network companies—solon By Jasper Emmanuel Y. Arcalas @jearcalas

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LAWMAKER proposed the transfer of regulation over transport network vehicle services (TNVS) from the Land Transportation Franchising and Regulatory Board (LTFRB) to the Department of Transportation (DOTr). Rep. Luis Raymund F. Villafuerte Jr. of the Second District of Camarines Sur said the current “overregulation” of the LTFRB over transport network companies (TNCs) and their TNVS “only leads to a deterioration, rather than an improvement, of service” that they provide. “Because of the LTFRB’s overregulation of transport network companies and their TNVS, companies such as Grab have found the agency a convenient whipping boy to blame for its shortcomings,” Villafuerte, who is the vice chairman of the House Committee on Appropriations, said in a statement on Sunday. “Transfer the control over these TNCs and TNVS from the LTFRB to the DOTr to change the regulatory environment for them so that these TNCs can fix problems on their own instead of constantly shifting blame to the government whenever they face mounting complaints from their customers,” Villafuerte said. Villafuerte is also a member of the

House Committee on Transportation. The lawmaker made the proposal following Grab’s “recent claim blaming the LTFRB for the lack of supply of TNVS that has led to the riding public’s difficulties in booking rides.” “Revamping the existing regulations for drivers of TNVS attached to TNCs and transferring control over these providers from the LTFRB to the DOTr would make the government more responsive to the needs of the riding public,” he said. “The LTFRB has been coming up with illconceived guidelines for TNVS because of its misguided interpretation on the role of these service providers. Grab, on the other hand, has found it convenient to blame the LTFRB because of such guidelines,” he added. Villafuerte said TNVS are private cars, whose owners could opt to sign off anytime from any ride-hailing platform, unlike taxi drivers who are obligated to provide services to the public as they are “common carriers.” “A common carrier is a public service, and thus, is subject to strict regulation by the government,” Villafuerte said. He noted that the LTFRB treats TNVS as common carriers just like taxis. The lawmaker urged Congress to “swiftly tackle and approve his proposal of coming up with a separate regulatory framework for TNVS and TNCs.”

stabled at the depot to be built at the UP property in Diliman, Quezon City. Tungpalan said the other unsolicited proposals being reviewed by the Neda include the Skytrain in Bonifacio Global City and the East West Rail connecting Quezon City and Manila. The P3.52-billion Fort Bonifacio-Makati Skytrain Project is a 1.873-kilometer monorail system connecting Fort Bonifacio and Edsa Guadalupe. The project was proposed by Infracorp Development Inc., the company led by real-estate magnate, Andrew Tan. Tan is known for Megaworld developments such as Eastwood City. The East West Rail, meanwhile, is a 9.4-kilometer railway line from Diliman, Quezon City, to Lerma, Manila, which includes interconnecting facilities with neighboring rail systems. Tungpalan said the the line will start either in Philcoa or Quezon City Hall and traverse Quezon Avenue and España to reach Lerma, Manila. The project is proposed by EastWest Rail Corp. and AlloyMTD which is a consortium of the A Brown Co. Inc. and MTD Philippines, a subsidiary of infrastructure conglomerate AlloyMTD of Malaysia.

Bulacan airport

TUNGPALAN also said the Bulacan airport proposed by San Miguel Corp. is at the “most advanced stages” of all the unsolicited projects being evaluated at the Neda. He said even if the project has been approved by the Neda Board in April, this approval did not include the concession agreement. Tungpalan said the concession agreement is still being negotiated and will also be submitted to the Neda Board for approval. He said another project, the Naia Consortium’s rehabilitation of the country’s primary gateway, has not yet been submitted to the Neda. The Neda Board is the country’s premier social and economic development planning and policy coordinating body, the powers and functions of the Neda reside in the Neda Board. It is composed of the President as the chairman, the socioeconomic planning secretary as vice chairman, and the following as members: the Executive Secretary, the Cabinet Secretary, the finance secretary and the budget secretary. Cai U. Ordinario

Central Luzon MSMEs seen earning ₧42.8M from trade fair

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MALL enterprises based in Central Luzon are expected to earn P42.8 million from a trade fair that will exhibit products from the region. More than 150 micro, small and medium enterprises (MSMEs) are set to participate in the 20th Likha ng Central Luzon Trade Fair from October 10 to 14. They target to generate P42.8 million in sales, as they showcase some of their region’s famed products. The annual trade exhibit will feature a variety of products of MSMEs from the seven Central Luzon provinces, including processed food, furniture and home furnishings, wearables, such as fashion accessories, bags and footwear, and gifts and holiday decors. Some enterprises are also penciled to promote their organic products and cosmetics. Each of the seven provinces will also carry their respective branding during the trade show. Aurora will be marketing “Siempre Aurora”; Bataan, “Galing Bataan”; Bulacan, “Tatak Bulakenyo”; Nueva Ecija, “Taas Noo Novo Ecijano”; Pampanga, “Love Pampanga”; Tarlac, “Natural Tarlac” and Zambales, “Zambales Finest.” Philippine Exporters Confederation Inc. Central Luzon Executive Director Malou V. Balano said the trade fair could be an opportunity for MSMEs to expand their market. She claimed a number of Likha ng Central Luzon frequenters are now indirect exporters, while one is preparing to become a direct exporter. “Some of the regular participating companies have moved up to being indirect exporters, as they have consolidators exporting their products abroad, [such as to] the United States and Middle East,” Balano said. The trade exhibit will also feature new products, packaging and label designs under the One Town, One Product Next Gen of the Department of Trade and Industry (DTI). The program provides MSMEs with an assistance package targeted to improve quality, design, standards compliance, branding, among others, of their products. Elijah Felice E. Rosales



The World BusinessMirror

A6 Monday, October 1, 2018 • Editor: Angel R. Calso

www.businessmirror.com.ph

China manufacturing weakens as tariff war with US escalates

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EIJING—China’s export orders shrank in September as a tariff battle with Washington over technology escalated, adding to downward pressure on the world’s No. 2 economy, two surveys showed on Sunday.

The reports add to signs Chinese trade, which had held up despite US President Donald J. Trump’s tariff hikes, might be weakening. That adds to pressure on an economy that already was forecast to cool due to slowing global consumer demand and lending controls imposed to rein in a debt boom. The official China Federation of Logistics & Purchasing’s monthly measure of new export orders fell to 48, from August’s 49.4 on a 100-point scale on which numbers below 50 show activity shrinking. A separate index by a business magazine, Caixin, showed new export

orders fell at the fastest rate in more than two years. The magazine said companies blamed “trade frictions” and tariffs. Overall, the federation’s monthly purchasing managers index showed manufacturing activity decelerated to 50.8, from August’s 51.3. Caixin said its index fell to 50, from 50.6. “Downward pressure on China’s economy was significant,” economist Zhengsheng Zhong said in Caixin’s report. The resiliency of China’s $12 trillion-a-year economy until now has allowed President Xi Jinping’s government to reject pressure for

changes in initiatives such as “Made in China 2025” that call for state-led creation of champions in robotics and other technologies. Washington, Europe and other trading partners say those violate Beijing’s market-opening bligations. The International Monetary Fund and other forecasters expect this year’s economic growth to fall to about 6.5 percent, from 2017’s 6.8 percent. But that slowdown is due mostly to the ruling Communist Party’s long-term efforts to steer China to self-sustaining growth based on consumer spending instead of trade and investment. Last week Trump stepped up pressure by raising tariffs on $200 billion of Chinese goods. Beijing retaliated with penalties on $60 billion of American imports. Both sides already had raised duties on $50 billion of each other’s goods. The two sides have announced no plans for negotiations. China accused Trump in a report last week of bullying other countries. A deputy

commerce minister said negotiations were impossible while Washington “holds a knife” of tariff hikes to Beijing’s throat. With no settlement in sight, forecasters say the conflict could trim global economic growth by 0.5 percent through 2020. Sunday’s reports gave no details on September orders from the United States, China’s biggest national export market. Sales to the United States have held up so far, rising by more than 13 percent in August. But analysts said that strength might have been due partly to Chinese suppliers rushing to beat increases in import taxes. American officials complain Beijing steals or pressures companies to hand over technology. They worry Chinese technology initiatives might erode US industrial leadership. Communist leaders have tried to stick to long-term reform plans the ruling party says will make the statedominated economy more competitive and productive.

Beijing has cut import tariffs and announced plans to open auto manufacturing and some other industries wider to foreign competitors. But none of their changes address the US technology complaints. Last week Beijing announced tariff cuts, effective, November 1, on 1,585 types of goods including construction equipment. Chinese leaders should act quickly to “expand domestic demand and resolve the short-term downward pressure,” economist Zhang Liqun said in the logistics federation’s report. Trade’s importance to China has shrunk but it still supports millions of well-paid jobs. The United States is the destination for the highest-value Chinese exports including smartphones, industrial machinery and medical technology. The logistics federation’s employment index fell 1.1 points to 48.3, indicating work forces were shrinking. “The employment situation worsened further,” Zhong said in Caixin’s report. AP

Indonesia tsunami toll tops 800 amid search for survivors continued from A1

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ID and supplies were being sent in via military and commercial aircraft, including helicopters, to reach badly affected areas. The nearby cities of Donggala, the site closest to the earthquake’s epicenter, and Mamuju were also ravaged, but little information was available due to damaged roads and disrupted telecommunications. Footage from MetroTV on Sunday showed images of destroyed houses in Donggala and areas that were once land now inundated with water. Aerial video also showed the battered coastline surrounding Palu. Looters were stealing on Sunday from a badly damaged mall in Palu that was not being guarded. They did not appear to be concerned about their safety, despite ongoing aftershocks and the structure’s questionable stability. Residents were also seen returning to their destroyed homes, picking through waterlogged belongings, trying to salvage anything they could find. Nugroho said “tens to hundreds” of people were taking part in a beach festival in Palu when the tsunami struck at dusk on Friday. Their fate was unknown. Hundreds of people were injured and hospitals, damaged by the 7.5-magnitude quake, were overwhelmed. Indonesian President Joko “Jokowi” Widodo was set to visit the area later Sunday. Some of the injured, including Dwi Haris, who suffered a broken back and shoulder, rested outside Palu’s Army Hospital, where patients were being treated outdoors due to continuing strong aftershocks. Tears filled his eyes as he recounted feeling the violent earthquake shake the fifth-floor hotel room he shared with his wife and daughter. “There was no time to save ourselves. I was squeezed into the ruins of the wall, I think,” said Haris, adding that his family

Strong typhoon pummels Japan

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OKYO—A powerful typhoon ripped through Japan on Sunday, forcing cancellations of flights and trains, including in the Tokyo area as authorities warned of strong winds and torrential rain. Farms and homes in Miyazaki on the southern main island of Kyushu were flooded as Typhoon Trami swept across southwestern Japan. Evacuation orders were issued for tens of thousands of people over a widespread area, including more than 250,000 people in the city of Tokushima on the island of Shikoku, the national broadcaster NHK reported. At least 51 people were injured in southern Japan, it said. Many flights were canceled at major airports throughout Japan, including Tokyo’s Narita and Haneda. The storm destroyed power lines on the southern islands of Okinawa on Saturday. Trami was expected to hit Tokyo late Sunday, and slam northern Japan on Monday. Bullet trains and other train lines were shutting down while the storm passed. Tokyo’s train lines announced they were shutting down after 8 p.m. (11 GMT). The typhoon is projected to hit regions ravaged earlier this month by Typhoon Jebi, which caused landslides and floods and temporarily shuttered Kansai International Airport. The strongest typhoon to hit Japan in 25 years, Jebi caused 11 deaths in and around Osaka. The airport was also closed for this latest typhoon. In July heavy rain in western Japan killed 221 people, setting off landslides and flooding. AP

Trump on Kim: Tough talk, ‘and then we fell in love’

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A PILE of debris is seen at a shopping mall damaged following earthquakes and tsunami in Palu, Central Sulawesi, Indonesia, on Sunday. A tsunami swept away buildings and killed hundreds on the Indonesian island of Sulawesi. AP

was in town for a wedding. “I heard my wife cry for help, but then silence. I don’t know what happened to her and my child. I hope they are safe.” It’s the latest natural disaster to hit Indonesia, which is frequently struck by earthquakes, volcanic eruptions and tsunamis because of its location on the “Ring of Fire,” an arc of volcanoes and fault lines in the Pacific Basin. In December 2004 a massive 9.1magnitude earthquake off Sumatra

island in western Indonesia triggered a tsunami that killed 230,000 people in a dozen countries. Last month a powerful quake on the island of Lombok killed 505 people. Palu, which has more than 380,000 people, was strewn with debris from the earthquake and tsunami. A mosque heavily damaged by the quake was half submerged and a shopping mall was reduced to a crumpled hulk. A large bridge with yellow arches had

collapsed. Bodies lay partially covered by tarpaulins and a man carried a dead child through the wreckage. The city is built around a narrow bay that apparently magnified the force of the tsunami waters as they raced into the tight inlet. Indonesian TV showed dramatic smartphone video of a powerful wave hitting Palu, with people screaming and running in fear. The water smashed into buildings and the mosque. AP

HEELING, West Virginia—President Donald J. Trump told a cheering crowd at a campaign rally that there was once tough talk “back and forth” between him and North Korean leader Kim Jong Un “and then we fell in love.” Trump said at the Saturday night rally in West Virginia: “He wrote me beautiful letters and they’re great letters. We fell in love.” He joked about criticism he would get from the news media for making a comment some would consider “unpresidential” and for being so positive about the North Korean leader. “Why has President Trump given up so much?” Trump said in his mock “news anchor” voice. “I didn’t give up anything.” He noted that Kim is interested in a second meeting after their initial meeting in Singapore in June was hailed by Trump as a big step toward denuclearization of North Korea. But denuclearization negotiations have stalled. More than three months after the June summit in Singapore, North Korea’s top diplomat Ri Yong Ho told world leaders at the UN General Assembly on Saturday that the North doesn’t see a “corresponding response” from the US to North Korea’s early disarmament moves. Instead, he noted, the US is continuing sanctions aimed at keeping up pressure. Trump took a much more optimistic view in his rally speech. “We’re doing great with North Korea,” he said. “We were going to war with North Korea. Millions of people would have been killed. Now we have this great relationship.” He said his efforts to improve relations with Kim have brought positive results—ending rocket tests, helping free hostages and getting the remains of American servicemen returned home. And he defended his unusual approach in talking about relations with Kim. “It’s so easy to be presidential, but instead of having 10,000 people outside trying to get into this packed arena, we’d have about 200 people standing right there,” Trump said, pointing at the crowd directly in front of him. AP

New Thai party picks ministers from junta as leaders before poll

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EY members of Thailand’s military government have been selected to head a new political party that could seek to bring back junta leader Prayuth Chan-Ocha as premier in a general election expected in 2019. The Palang Pracharath party said it picked Industry Minister Uttama Savanayana as its leader after a meeting on Saturday in Bangkok. Science Minister Suvit Maesincee was appointed deputy head and Commerce Minister Sont irat Sont ijirawong was named as secretar y. Kobsak

Pootrakool, a minister in Prayuth’s office, becomes party spokesman. “It’s time for the country to move forward and move past all the conflicts,” Uttama said at a briefing, adding that he’s not sure yet whom the party would back to be prime minister. Prayuth seized power in a coup in May 2014 after a period of prolonged and sometimes bloody political unrest. A general election, long promised but repeatedly delayed, is now expected between late-February and May next year under a military-backed constitution.

Over the past several weeks, Prayuth’s government eased a ban on political activities and announced revised electoral constituencies. “It’s clear from the beginning that this party was established to support Prayuth,” said Titipol Phakdeewanich, dean of the faculty of political science at Ubon Ratchathani University. Prayuth said in an interview in June that he’s considering joining a political party to ensure that his policies continue under the next administration. Palang Pracharath’s members include figures

from the business sector, as well as several well-known politicians who have switched from other major parties. The opposition Pheu Thai party, which is backed by the ousted former Prime Minister Thaksin Shinawatra, is planning to elect its leader on October 28. The Democrat party, another key player, could select a chief by November. The current stretch of military rule is one of Thailand’s longest since the 1970s, in a nation with frequent coups since the end of absolute monarchy in 1932. Bloomberg News

PRESIDENT Donald J. Trump speaks at a rally in Wheeling, West Virginia, on Saturday. AP


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Banking&Finance BusinessMirror

Gaming regulator cracks down on online gambling operators

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By Rea Cu

@ReaCuBM

HE Philippine Amusement and Gaming Corp. (Pagcor) has reported that it is conducting a crackdown on online gaming firms operating without a license in the country and those found to be violating the agency’s Offshore Gaming Regulatory Manual. Pagcor Chairman and CEO Andrea D. Domingo said in a statement that the agency is in cooperation with various law-enforcement offices to identify illegal online gaming operators and that investigations and raids are regularly undertaken by the agency in line with this. The agency reported that, beginning January last year and the first semester of 2018, it raided over 170 establishments that Pagcor found to be operating without licenses. Those found guilty operating without a gaming license will either face charges in court or be deported. “Word of advice, therefore, legalize your operations or face dire

consequences.” Domingo said. Pagcor said it entered into a “mutual cooperation” agreement with the National Bureau of Investigation, the Philippine National Police and the Bureau of Immigration for a concerted drive against illegal online gambling. Aside from raids, Pagcor said it is also regularly monitoring and auditing the operation of Philippine Online Gaming Operation licensees. This is to ensure these Pogos remit to the government proper revenue share and that they adhere to all municipal, national and labor laws, according to Domingo. She added that its third-party audit platform will soon be fully

functional, which will strengthen revenue collection and ensure fairness in the operations of Pogo licensees. The audit platform would ensure that Pogo licensees operate according to the regulatory framework. The platform is also expected to ensure that only licensed and approved casino-based gaming platforms are offered to players and that betting on prohibited platforms like collegiate games, illegal cockfights and prices of traded stocks are not undertaken by licensees. Through its Compliance Monitoring and Enforcement Department, Pagcor ensures that Pogo licensees operate within the bounds and limits of their offshore gaming licenses and mandates the department to monitor and report possible violations on labor, immigration and other pertinent laws, such as poor working conditions, exploitation of employees and employment of minors or undocumented foreign nationals. In March Pagcor reported that

revenues from Pogo will likely reach P6 billion after the rollout of its third-party audit system. Domingo said a third-party audit system, which monitors the operations of the 53 Pogo, will enable Pagcor to track the revenues generated in real time by Pogos. Revenues from Pogo last year reached P3.9 billion, and Pagcor expects to double the revenues this year. License fees charged to each Pogo operator amount to $200,000, while the application and processing fees cost $15,000. On top of the fees, Pagcor requires operators to put $250,000 cash fund just in case they can’t pay bets that win. Jose S. Tria Jr., Pagcor special assistant to the gaming regulator chairman and CEO, said the audit platform will also help boost the number of applications received by the Pagcor for online gaming operations. Tria said an estimated P3 billion in taxes can be collected through the issuance of the Pogo alone.

Word of advice, therefore, legalize your operations or face dire consequences.”—Domingo

Monday, October 1, 2018

A7

KPMG R.G. Manabat & Co. appoints new partners

THE new partners of KPMG R.G. Manabat & Co. are Tax Partner Mary Karen E. Quizon-Sakkam (from left), Audit Partners Warren R. Angeles and Rohanie C. Galicia.

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PMG R.G. Manabat & Co. announced the admission to the partnership of Warren R. Angeles and Rohanie C. Galicia as audit partners and Mary Karen E. Quizon-Sakkam as a tax partner, effective October 1. Angeles began as the firm’s audit director in January 2016. With over 15 years of public accounting experience in the Philippines and Australia, he has handled the audit of a number of publicly listed companies and large private entities. Galicia has been with the firm since 2006. She has more than 11 years of experience in statutory audit of listed and multinational companies, as well as mediumsized organizations in different industries such as oil and gas, among others. Quizon-Sakkam has been with

the firm since 2007. She has extensive experience assisting clients in handling tax audits and investigations conducted by the Bureau of Internal Revenue and in applying for tax treaty relief and BIR confirmatory rulings. She has also assisted in drafting tax opinions and participates in various due diligence and tax health check reviews on target companies from various industries. The admission to the partnership of these passionate and hardworking professionals will be a great asset to the firm as they continue to lead by example. R.G. Manabat & Co. is a Philippine partnership and a memberfirm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity.


Green Monday BusinessMirror

A8 Monday, October 1, 2018

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

Sierra Madre stifles world’s fiercest typhoon this year

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yphoon Ompong (international code name Mangkhut) might be the strongest storm to hit the planet this year, but its effects could have been more devastating for the Philippines if not for the massive wall that hampered its greater impact, environmentalists say. Sierra Madre is the longest mountain range in the Philippines, spanning almost 500 kilometers in length. Its highest peak has an elevation of 1,266 meters above sea level or equivalent to three Petronas Towers of Malaysia stacked together. Also known as the “backbone of Luzon,” the Sierra Madre is home to a large number of threatened biodiversity species, such as the Philippine Eagle, and acts as a natural shield against typhoons and storm surges. “The mountains of Sierra Madre protect us,” asserted Zander Bautista, assistant executive director of the Save Sierra Madre Network Alliance (SSMNA). Ompong’s wind slowed down to 160 kilometers per hour from 220 kph sustained winds after encountering the mountains of Sierra Madre with super typhoon category.

Rescuers continue with search operations at the site where victims are believed to have been buried by a landslide set off by Typhoon Ompong (international code name Mangkhut) as it lashed across Itogon, Benguet province, in the Cordillera Administrative Region on September 19. AP/Aaron Favila

Karen and Lawin

Most natural disasters caused by man’s abuse of environment By Michael A. Bengwayan | Special to the BusinessMirror

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ANGKOK, Thailand—Contrary to what most government agencies would like people to believe, natural disasters are not triggered by natural events alone. Most are initiated and aggravated by man’s abuse, overuse and mismanagement of natural resources.

The Swedish Red Cross (SRC) said that throughout the world, disasters are on the rise in terms of number and people affected, citing the latest in the Philippines, where mining and quarrying activities allowed Typhoon Ompong (i nter n at ion a l code name Mangkhut) to loosen soil and bury more than a hundred people in two provinces. Asia is the continent most prone to natural disasters, while Africa and Latin America are roughly equal, and North America and Europe are squaring off. Australasia has the least number of natural disasters on a yearly ratio basis, SRC bared. In the order of their importance on their effects on humans, disasters rank as follows—storms/ hurricanes, floods, drought, earthquakes, volcanic eruptions, wildfires and earthquake-triggered or generated tsunami.

Climate-change refugees

These disasters are also creating a new wave of refugees called “climate-change refugees.” T housands of people deprived of food, water, livelihood and raw materials for existence are crossing country boundaries in search for sur vival means, especially in Africa. A ccord i ng to t he i nter n ational environment and develo pme nt i n for m at ion a ge nc y Ea r t hsc a n, i s ba sed i n L ondon, poor people in poor countries are the most vulnerable to disasters. There are 3,000 to 5,000 deaths per disaster per year on the average in lowincome countries, compared to 800 to 1,200 in high-income countries. However, while many

developed nations are becoming prone to disasters, like the United States, not too many people hit by the disasters die. Both Japan and Bangladesh are hit yearly by natural disasters every year. But the Japanese are more technologically prepared, disciplined and equipped to deal with disasters.

Poor regard for environment

The Philippines is hit w ith 20 t y phoons on the average each year, so are Taiwan, China and Japan. But deaths are a lways more on the Philippine side because env ironmenta l laws are la x, agencies implementing the laws are tainted w ith cor r uption and the genera l popu lation, particularly leaders, have a poor regard and respect for the env ironment. There exists a universal tenet that as we are stewards of creation, all must care and respect the environment, something that is missing in most societies. While environmental advocacies are gaining ground, those in developed countries—reforestation, land care, solid-waste management, anti-mining and lo g g i n g — w it hout dou bt a re evidently in effect more than in developing nations. T he Philippines, Indonesia and Vietnam have the infamy of contributing most trash—particularly plastics—in the Asian seas, that is totally in disregard of the environment. On the other hand, Japan, Taiwan and China strictly enforce environmental laws, building codes and zoning regulations and have advanced training and communication.

Poor suffering the most

In many Asian cities, the poor live on areas prone to floods, storms, landslides and earthquakes. They live in self-built shelters unable to stand up to strong wind, rain or tremors. They are not taught or advised how to protect themselves from natural disasters. Many of Asia’s poorest live in floodplains. Much of the expansion in Delhi has been onto the f loodplains of Yamuna R iver. Many of the 10 million squatters plus 2 million living in unauthorized subdivisions and another million living essentially in campsites, are vulnerable to flooding—as are wealthy people who occupy their land legally. Of Bangkok ’s more than 10 million people, at least 3 million live in slums and illegal settlements. The same with 2 million infor ma l sett lers in Ma ni l a. Many of these are on swampy lands, riversides and canal-lines that are prone to flooding that make them homeless. Other Asian and Pacific cities with f lood-prone shantytowns include Calcutta, Dhaka and Port Moresby.

People to blame

In most cases, people are to blame for natural disasters. Droughts are due to deforestation caused by logging, mining and quarrying. Abused tropical forests erode easily, retaining insufficient water to recharge the water table. Deforestation also worsens f looding, landslide, soil erosion and mudf lows. It creates disequilibrium of the natural water cycle, reduces rainfall, thus, triggering droughts. Human pressure—unsafe agriculture, settlements and landscape change—all are primary causes of natural disasters. In the Himalayas and China’s X ing Zhou region, Cameroon and Genting Highlands of Malaysia, as well as the Hill Tracts of Bangladesh, deforestation contribute immensely to f loods. In the Philippines, overlogging and mining are not only to blame for deforestation that cause floods. There is also tree cutting to accommodate expansion of roads, construction of subdivisions, hotels, malls, golf courses and tourism sites. While many Asian countries are convinced that reforestation

can prevent landslides and flooding, not many have embarked on action to concretize their ambitious goa ls. The efforts of Burma/Myanmar, Cambodia, Vietnam, Nepal, Indonesia, the Philippines and Thailand pale in comparison to South Korea, Japan, Taiwan, China and Bhutan. China has the proven ability to organize its population for forestation. In Sichuan, it doubled its forest cover in 30 years. Bhutan in 2016 planted almost a billion trees following the King’s order.

When aid is not aid

Against the background of pain and suffering caused by natural disasters, it may seem cruel to question international relief efforts. Unfortunately, disaster relief is a mess of incorrect assumptions and mixed political and economic motives. Often disaster aid from rich nations tends to conform to the donor country’s foreign policy rather than to the recipient country’s need. Such relief is merely the export of surplus food and materials, oftenly, inappropriate for disaster conditions. When the surplus of the donor country dries up, so does the aid. Biases in disaster relief dictate that sudden, dramatic newsworthy catastrophes receive more aid than disasters that grind people down slowly. Stories abound in the relief field of completely inappropriate aid—expired medicines, corn grain where disaster area is without firewood, thick winter clothes sent in hot humid countries, tea, tissues, tampax, or tins of chicken cooked in pork fat for Muslim countries, etc. Effective disaster prevention and mitigation depends on longterm planning for development toward a more sustained and less disaster vulnerable society. Furthermore, disaster prevention and the elimination of poverty are closely linked, as are poverty and environmental degradation. It is likely that relief agencies will increasingly move away from relief after the disaster, toward disaster prevention integrated with development. Above all, the common view of natural disasters being caused solely by natural events, is due for a radical change.

Environmental advocates say this episode is reminiscent of the typhoons that smashed Northern Luzon two years ago. According to Bautista, the importance of the Sierra Madre as a protective barrier against tropical cyclones was unmistakable during the onslaught of Typhoon Karen (international code name Sarika) and Supertyphoon Lawin (international code name Haima). “When Supertyphoon Lawin hit the North, it was the Sierra Madre mountains that weakened the force of what could be another typhoon catastrophe,” said Fr. Pete Montallana, Franciscan priest and SSMNA president. From Category 5, Lawin was brought down to Category 3 after slamming against the mountainous east coasts of Luzon. Environmental group Haribon Foundation said the forests of Sierra Madre are able to lessen the typhoon’s wind speed. “Since the Sierra Madre has a large surface area with many slopes and curves, it can help break the eye of the cyclone resulting in a slower wind speed,” Haribon said. Before Ompong’s landfall on September 15, Vicente Malano of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) and Cagayan Gov. Manuel Mamba cited the role of the mountain range in curbing the effects of an imminent disaster. “One optimistic thing about this typhoon is that it may be weakened once it hits the Sierra Madre mountain range, which usually serves as a natural barrier,” Molano said. “We are lucky because we have the Sierra Madre in our eastern borders,” Mamba reassured. Data from the Depar tment of Environment and Natural Resources (DENR) indicated that in 1988, 1,281,607.36 hectares of land in Sierra Madre are covered with forests composed of 51 percent open forests, 39 percent closed

forests and 10 percent mossy forests.

Continuous threats to forests

In 2010 the DENR recorded a total loss of 161,240 hectares of forest in Sierra Madre from 1988, which were mostly attributed to illegal logging. Haribon Foundation said the forest loss is equivalent to two quarters and three quarters of Metro Manila. Data from the environmental group’s geographic information analysis reveal that notable areas with forest loss can be found in the edges of Sierra Madre in the provinces of Isabela and Cagayan. Many areas along the mountain range were also converted to open forests remarkably in the provinces of Isabela and Nueva Ecija. Bautista noted that major threats to Sierra Madre also include continuous road construction and mining activities. According to him, infrastruc ture projects along these areas destroy virgin forests, ruin natural parks and protected areas, displace indigenous peoples and result in widespread kaingin, or slashand-burn farming. “When there is heavy downpour, wastes from mining activities also pollute the ocean,” he added.

Hope for the forest

To this day, the 1975 Revised Forestry Code remains as the legislative basis for forest management and utilization. According to Haribon, current forest laws only address problems of extraction rather than forest conservation and protection. For over two decades, many other related bills were filed at the House of Representatives, including House Bills 50, 907, 1104, 1171, 12123, 1423 and 1893. The Forest Resources Bill (FRB) is a sustainable forest-management policy that is pushed for by civic groups highlighting the benefits of forest resources (i.e., production forestland) while ensuring protection of natural forests and restoration of denuded forests (i.e., protection forestland). Advocates of the bill challenge the existing definition of forests used by the DENR. “Forest is best described as not merely tree plantations but an ecosystem of different tree species sustaining varied plants and animal life,” Haribon maintained. According to the group, sustainable forest-management solutions can only be attained if forests are defined the way they should be. Haribon explains that the FRB uses the ridge-to-reef perspective, which uses an integrated approach to land, water, forest, biodiversity and coastal resources. Amid climate - change impac ts, environmental groups advocate for the inclusion of critical provisions to forest governance that are essential to protecting one of our greatest mitigators of natural calamity impacts. “Forests provide us with food, water, shelter, medicine and protection from typhoons such as Ompong. Losing our forests means losing all forms of life,” Haribon said.

D.E.N.R. eyes more recycling facilities in Metro Manila

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h e e nv i ro n m e n t d e p a r t m e n t ’s Environmental Management Bureau (EMB) plans to put up more wasterecycling facilities for Metro Manila’s over 1,700 barangays. Based on figures from the National Solid Waste Management Commission (NSWMC), there are only 943 materials-recovery facilities (MFRs) in the National Capital Region (NCR) serving 964 villages or barangays. “ We c a n f u r t h e r h e l p p r o v i d e materials-recovery facilities to barangay units for use in solid-waste management,” said Marivic Q uides, EMB chief for ambient air and water monitoring at the NCR, during a coastal cleanup activity at the Manila Bay last week. Th e a g e n c y j o i n e d t h e a n n u a l International Coastal Clean-Up Day, themed “Trash-free Manila Bay,” which aims to highlight what experts say as the link between pollution in Manila Bay and land-based human activities, such as the discharge of municipal, industrial and agricultural wastes. In 2008 the Supreme Court ordered the Department of Environment and Natural

Resources (DENR) and other agencies to clean up, rehabilitate and preserve Manila Bay, so that its waters can be fit for contact recreation. During last Saturday’s coastal cleanup at the back of the Cultural Center of the Philippines (CCP) Complex in Pasay City, among those collected were water hyacinths, bamboo poles and driftwood, some of which had been carried by the currents from nearby Bataan and Cavite provinces. “About 30 percent of waste we recovered were bamboo poles and driftwood,” noted RR Salvador, operations superintendent of Pasay City’s City Environment and Natural Resources Office, which has jurisdiction over the CCP Complex. Salvador said the Pasay City government promotes the use of bamboo and driftwood as materials for making various items to help reduce waste and provide the residents livelihood. “Pasay residents, particularly those in Barangay 76, where CCP Complex is, make furniture and other items using the bamboo and driftwood we recovered,” he said. Catherine Teves/PNA


Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, October 1, 2018

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

A9

ShORe story: Assessing corals and educating the public

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Story & photo by Stephanie Tumampos

n January 2013 the minesweeper USS Guardian ran aground on Tubbataha Reef in Sulu Sea in Mindanao, scraping off about 2,345 square meters of corals.

The US Navy, not spared from repercussions, had to pay in full to the Philippine government after two years the damage to the corals caused by its ship. It paid around P87 million (equivalent to $1.87 million) in 2014 based on the computation of the Depa r t ment of Env i ronment and Natural Resources (DENR), slightly higher than the earlier assessed penalty. Through the Bro. Alfred Shields Ocean Research Center (ShORe) of the De La Salle University (DLSU), the team, led by Dr. Wilfredo Licuanan, mapped out the damage of USS Guardian to the United Nations Educational, Scientific and Cultural Organization-declared World Heritage Site. It was the worst damage on record on the protected reef. However, Licuanan told the BusinessMirror that after five years, “you will no longer notice the damage caused by the USS Guardian [in Tubbataha].”

ShORe story: Philippine coral reefs system check

The Philippines is considered a mega-diversity country. It is rivaled only by a few countries in the world owing to its variety of ecosystems, species and genetic resources, according to the DENR’s Biodiversity Management Bureau. However, the country is also considered a biodiversity hot spot because it continues to experience an alarming rate of destruction of these important resources caused by overexploitation, deforestation, land degradation, climate change and pollution, among others. The center of the center of the Coral Triangle is located in Philippine waters, the reason many groups are interested in its research and discovery. For ShORe, it has a different focus. The ShORe center is the Shields Ocean Research Center named after Bro. Alfred Shields, an American Christian brother who established the biology department of DLSU. The center has an office at the main campus, while having a marine station in Batangas. The ShORe exists also to manage externally funded projects that involve coral reef assessment. It was once part of a big program under the Department of Science and technology (DOST) from 2014 to 2017, “to undertake a nationwide assessment of coral reefs.” What Licuanan and his team learned after assessing fringing coral reefs was alarming.

Its paper, published in the Philippine Journal of Science, titled “Initial Findings of the Nationwide Assessment of Philippine Coral Reefs,” resulted from data gathered from 2015 to 2017 from over 166 stations, including 108 in Luzon, 31 in the Visayas and 27 in Mindanao. The research found that “none of these [coral reefs] were classified in the excellent category based on live coral cover, and more than 90 percent of the same station were in poor and fair categories.” Excellent reefs are determined when the live coral cover of the reef is at least 75 percent, while a reef is categorized as good when its live coral cover is at least 50 percent to 75 percent. Fair corals have 25 percent to 50 percent of living corals, and poor when it is below 25 percent. A live coral reef is the total of the hard corals and the soft corals.

Fringing reefs

ShORe center focused on fringing reefs. Licuanan explained during the interview that fringing reefs are “attached to land. We focused on these because they are the ones that are damaged first.” For comparison, the first-ever nationw ide coral-reef assessment in 1981 done by National Scientists Dr. Edgardo Gomez and Dr. Angel Alcala showed that only 34 out of 619 stations were considered as “excellent” and over 434 stations were in “poor” and “ fair” condition based on their data gathered from 1976 to 1981. “In just 40 years, we lost excellent category reefs,” Licuanan lamented. “We also have numbers that show in the last 20 years, we lost about a third of our corals in fringing reefs in the Philippines.” Licuanan added that on a projection based on its reef monitoring in Pangasinan, “[they] would lose its corals in 11 years.” The reef is in the north of the famous Hundred Islands.

‘We have done enough damage’

There are a lot of reasons corals and the entire marine ecosystem have declined. Humans have done already so much damage through illegal activities and malpractices, such as overfishing and dynamite fishing. But there is a far scarier destroyer of the coral reef system, our need to build more than we can imagine, the assessment disclosed. Monitor ing done by t he ShORe Center goes up to about 15 feet and they found out that

Corals within 10 meters from the shore of Dauis, Bohol.

You risk propagating one kind [of corals] at the expense of others. Where is the biodiversity there?” —Licuanan reefs left alive are those which are in the more shallow waters while in the deeper areas, they have slowly died. “One reason [is due to] the change in water clarity,” Licuanan said. He explained that because of runoff, coastal development and construction, the corals did not have the chance to proliferate and live longer years to support the fishes. He blamed the Department of Public Works and Highways for this. “They build roads but they don’t stabilize the hillsides, they don’t stabilize the road cuts. So when heavy rain comes, the runoff goes to the sea, which brings nutrients and makes the water cloudy.” When water clarity becomes poor, it blocks the UV light the corals need to photosynthesize and make food. It also adds sediments to the corals and so, “the first corals to go are the ones in deeper areas.”

Coral gardening: Humanity’s need to intervene but to only destroy

“We have a lot of well-meaning people being conned to trying to help the coral reefs through coral gardening,” Licuanan added. Coral gardening, according to a policy brief by Licuanan’s team, “is currently a popular method used to help speed up the recovery of coral cover on reefs.” The process involves the breaking of a piece of a coral and planting it somewhere. In the Philippines coral gardening has boomed in 2012. Through government-funded projects, this practice was done in many areas in the country. However, there’s a big problem with this practice. In order to fix 1 hectare of reef, you have to damage 47 hectares of reefs. There are many considerations in coral gardening. First is to determine the source of pieces of reefs

and which corals should be used for the practice. “We have over 500 species of corals and gardening only works for the branching ones, what about the others?” Licuanan asked. It is also very expensive to do coral gardening. For a hectare, one will need about P6 million, but the amount is also the equivalent annual budget of the Tubbataha Management Office and managing 97,000 hectares. According to the assessment’s policy brief, “there is high variability of success in previous coral gardening initiatives, with good survival for some areas and very high mortality for others.” It added: “Successful endeavors have generally been on the small scale of only tens to hundreds of square meters, and the increasing cost of upscaling suggests that large-scale efforts are best avoided in favor of other management options.” Licuanan asked: “You risk propagating one kind [of corals] at the expense of others. Where is the biodiversity there?”

Nature heals itself; remove the stressors, it heals faster

ShORe Center does an annual monitoring in the Tubbataha. Together with other researchers worldwide who help the Tubbataha Management Office, the center has constantly collected data on the damaged reefs. “It’s healing itself,” said Licuanan on the 2,345-square-meter damage done by the USS Guardian. The center’s director assured that in about five years, the scar has gone unnoticed as the reef has grown back without any gardening or planting. “The reef is managed and we removed the stressors that kill the corals,” he said. “This is what Tubbataha [Management Office] is doing.” R estor at ion , accord i ng to the ShORe Center, is aiding the

Raptor migration season in Sarangani opens

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t’s the time of the year once more when raptors from neighboring countries, such as Taiwan and Japan, fly long distances and even cross open oceans to find the suitable environment and feeding areas. As these birds head to Indonesia, they pass by Southern Mindanao to rest and feed before continuing their long distance journey. In recent years, the migrator y birds have been obser ved to make a stopover in Rio del Pilar in the municipality of Glan in Sarangani. Last year the provincial government of Sarangani, through the Environmental Conser vation and Protec tion Center, counted a total o f 1 3 2 , 9 4 5 b i rd s co m p o s e d o f Ch i n e s e S p a r row h aw k ( 9 6 p e rce nt ) , G ray - f a ce d

Buzzard (3 percent), Peregrine Falcon and Western Osprey (1 percent). This is the third year of monitoring and study in order to generate scientific data that will help authorities understand certain aspects of raptor biology, migration behaviors and to help identify critical sites for conservation. The birds are looking for thermal air currents that can be found in Mount Latian Complex, which has been identified an important biodiversity area, and a Philippine Biodiversity Conservation priority by the Department of Environment and Natural Resources. Raptor migration is a vital indicator of the ecological balance of the roosting area, which would draw the interest of wildlife enthusiasts. They are characterized by the raptors’ sharp

vision, which allows them to detect prey during flight, thus serving as natural pest control in the area. The migratory birds arrive in Sarangani twice a year—September to October, and March to April, their return flight to their original abode. A study, titled “Project Southern Crossing 2014: First Observations of Autumn Raptor Migration at Sarangani, Mindanao, Philippines,” described the archipelago as an “important link in the East Asia-Australasian Fly way ” (BirdLife International, 2015), a “migration route involving long sea crossings.” This year’s monitoring season includes a reforestation initiative of one of the roosting sites, Mount Taltak, in par tnership with Raptorwatch Network Philippines and the

Japanese Society for the Preservation of Birds. The five-year regreening project is a component of the Migratory Raptors Study alongside with this year’s raptor monitoring, which will be highlighted in the firstever Autumn Migration Raptor Watch Festival set on October 5 in Glan. The ecotourism fest will emphasize the importance of maintaining the environmental health of the area to keep the raptors from coming. The event will be participated in by the DENR, provincial government of Sarangani, municipality of Glan, the Departments of Tourism, and of Trade and Industry, the Indigenous Peoples Municipal Office, Philippine National Police, schools, barangay councils and communities in Glan.

recover y of a d a maged ecosystem and involves t wo different approac hes. One is passive reef restoration, where it solely relies on the ability of the corals to grow and proliferate. On the other hand, active reef restoration is the direct action done to aid the healing of the reefs, such as “modifying the reef with natural or artificial structures.” Licuanan recommends to only do active restoration when there is no option left. “ The reef will take care of itself,” he told the BusinessMirror. “ The default in ecosystem restoration is to remove the stressors and only implement active restoration with [human] intervention as the last resort.”

Coral project

The ShORe Center has other projects. T hrough a recent ly acquired two-year, P13-million grant from the Discovery-Applied Research and Extension for Tr a n s/ I nter - d i sc ipl i n a r y Opportunities Research Grant of the Commission on Higher Education, it aims to perform more citizen-science service to the youth. Its project, Collaboration On Resource Management A mong Academe and Loca l Communities (Coral), is about developing tools so that people can better monitor reefs through the help of youth education and loca l communit y. T h rou g h t h i s , t he c e nt e r inv ited R amon Magsaysay Awa rdee C hr istopher Ber nido a nd h is w ife, Ma. Victor i a, to t he project. “We want [to learn] the innovative techniques of the Bernidos in teaching science to the kids so we can use these [techniques] to enhance the training of our coastal scouts,” Licuanan said. The DLSU have grade-school and high-school coastal scouts who are trained in marine science at their marine station in Batangas. The Coral research is expected to come up with 3D images of the reefs and fishes.

Social responsibility

After diving, deploying long measuring tapes, taking pictures

of the reefs and a million photos for evaluation and mapping, Licuanan believes that there is still a lot more to work on but not just for the research, but extending the work to the community further. At DLSU, Licuanan plans to educate students about coral reefs by installing a huge aquarium inside the campus that showcases live corals so they would know how corals look like. Republic Act 10654, Section 96 on the Ban on Coral Exploitation and Exportation states: “It shall be unlawful for any person or corporation to gather, possess, commercially transport, sell or export ordinary, semi-precious and precious corals, whether raw or in processed form, except for scientific or research purposes.” Licuanan said this means the plan of having an aquarium can materialize soon in the university. He added that putting up an aquarium with live corals in the university is part of their mandate to be stewards of God’s creation. “How can you be stewards if you don’t know what corals look like when they’re alive?” A t t he s a me t i me, L ic u anan urged the government to strengthen its capability to provide technical support to the local governments. As an example, he cited that under the Fisheries Code, 15 percent of the municipal waters should be declared as protected areas. Fisheries is under the municipal agricultural office but, “t here is nobody t here w it h training specifically for coral reefs,” he lamented. The Denr was not spared. He said the agency is mostly made up of foresters and very few marine scientists. He thinks there must be a way to change the situation. Moreover, the local government should also work together to enhance management. “There are issues on local management of reefs but there are potentials,” he added. Such potentials can only be realized with education, he said. Hence, the center also partnered with freedivers and community members. The center developed a monopod for the divers to take pictures they could show to the local residents in the barangay hall where the ShORe Center can train the rest of the community to recognize and count corals. “ Tools development focusing on loca l communities w ith the arg ument that if you a llow the communit y to see for themselves the state of the reef and what human activ ities are doing, it w il l be the basis for better compliance,” Licuanan explained. “Definitely [there is a need for] greater awareness and hopefully that would count into management of coral reefs at the LGU level.” The hope is to have more informed citizens in all coastal communities who will eventually, protect the rich marine ecosystem the Philippines have.


A10 Monday, October 1, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Watch your mouth…online

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HIS past Friday, social-media giant Facebook announced a major hack of their system and that user data had been breached. “On the afternoon of Tuesday, September 25, our engineering team discovered a security issue affecting almost 50 million accounts. This allowed them [hackers] to steal Facebook access tokens which they could then use to take over people’s accounts.” Three days later Facebook was still unable to explain what this might mean to its customers. In 2013 and 2014 all 3 billion accounts—almost equal to 50 percent of the global population—of Yahoo users were hacked. The company did not discover this until 2016 and still in 2018 does not have any idea how this happened. People still using the Yahoo e-mail service, for example, might be considered very brave or not very smart. Social media and the Internet have become an integral part of most people’s lives in one manner or another. We communicate with friends and family the way we formally used the telephone and the postal service. We store digital photos and documents the same way we used to preserve these in a special box or even in a safe. But the ease and convenience of using modern technology and the fact that it is as if everyone is “connected” have perhaps kept us from realizing two facts. For all intents and purposes, the Internet is forever. There always seems to be a trace of what we put online even after hitting the “delete” button. Further, that comment or picture meant only for your “special someone” can suddenly show up on a million computer screens. The first problem in this age of instant communication is that it is instant the second you push the “post” or “tweet” button. While you can “edit” your Facebook post and delete both in Twitter and FB, someone else can just as quickly hit their “print screen [PrtScn]” button. Your words are now preserved for eternity. Another problem is that words on a page do not convey any of the important subtlety and distinctions that come from body language. No one sees your smile and can understand that your insult is simply an attempt at making a joke. What you write is what they get. Last, a post or tweet is not necessarily part of or even the beginning of a conversation. It is a person’s statement like a tattoo on the forehead. It stands alone. Elon Musk is worth $19.7 billion. He founded and held the positions of the chairman of the Board and chief executive officer of Tesla Motors. On August 8, 2018, he Tweeted nine words: “Am considering taking Tesla private at $420. Funding secured.” The Tesla stock price was about $360 per share. There is talk that Musk was drunk or high on drugs. He may have been trying to impress his girlfriend or her friends. Musk has been under tremendous pressure from some investors and stock market analysts that the company was not worth even $350. This may have been his response to their skepticism of his business “genius.” But instantly and forever, his 22 million followers saw his nine simple words with a clear message. And that message was false. When the head of a public $50-billion company makes a material and false statement, it is fraud. The US Securities and Exchange Commission filed charges. Musk has settled the complaint by stepping down as chairman for three years and he and the company will each pay a $20-million fine. Since 2005

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RISING SUN

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HE trade war going on between the United States and China, two of the world’s biggest economic powers, is definitely making its effects felt across the globe. Because of Trump’s earlier promise to strengthen the American economy, he imposed additional tariff on some products coming from China, Mexico, Canada and the European Union. It was done to encourage more Americans to buy “homegrown”. The repercussions are inevitable as these countries retaliated with counter-tariffs on American goods. As it turns out, the China-US trade war is by far the most intense. The US has imposed additional taxes three times this year, and the Chinese met these with equal measure. The IMF has said that this situation could reduce global growth

in 2020 by 0.5 percent. Morgan Stanley’s figure is at 0.81 percentage points, which is the decrease in worldwide GDP. One of the hardest hit is the car manufacturing business, which has to find ways to continuously cope with rising prices of raw materials like steel and aluminum. Currency exchange and the smaller economies that

‘The Rule of Law’ Conclusion

Remarks by Ambassador Albert F. del Rosario, former secretary of Foreign Affairs, at the Conferment of Honorary Doctorate Degree in Humanities by the Ateneo de Manila University (ADMU) on September 25, 2018, at the Rev. Henry Lee Irwin Theater, Ateneo de Manila University, Loyola Heights, Quezon City.

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T is the prerogative and the responsibility of an incumbent administration to decide on our foreign policy and to craft our diplomacy. At the same time, in a democracy, the citizenry may freely express its views. Members of the foreign affairs community should also be encouraged to share their expertise, experience and proposals for the general good.

T. Anthony C. Cabangon

Online Editor Social Media Editor

Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

How to end a war

So where are we in this respect? Objectively speaking, are we at a stalemate? I would submit that we are not. China has not only rejected the Arbitral Ruling, but has steadily moved to consolidate its presence and power projection in the South China Sea. This can only be to the disadvantage of the Philippines and other regional claimant states. Furthermore, while negotiations on a binding regional code of conduct may be commendable, we should take care that nothing in it will undermine the legal victory of the Philippines. Given Beijing’s prevailing hostility to our legal process, we must be vigilant on this score. Moving forward will clearly be a complex task, where action will be required on several fronts, to protect and promote the Arbitral Award. All our actions, however, must be guided by the Arbitral Ruling, the sterling manifestation of the Rule of Law. While we are cognizant of the imperative not to start an armed conflict, we firmly believe that adherence to the Rule of Law is a profoundly pacifist way that everyone should be able to follow. The thought

that war was the only alternative to setting aside the Arbitral decision cannot possibly be serious in this modern world. We should, therefore, protest any further illegal action by China. This applies especially to violations of our airspace and maritime entitlements and illegal activities such as harassing our fishermen and stealing our natural resources. Issuing protests is not an act of aggression. It is standard diplomatic practice. The important thing is to show our disagreement for the record so that it may never be said that we have renounced our legitimate claims in the South China Sea. We must also be vigilant about further militarization on the artificial islands. These are clearly of a destabilizing nature that affects the security not only of Southeast Asia but also of the entire East Asian region. We have to remain aware of Beijing’s larger game. Beijing’s stance risks exacerbating the potential of great power conflict, the one eventuality that nobody wants. If, indeed, China is intent on changing the status quo in

supply products into China, which it resells to the US are, likewise, feeling the pain. Ironically, the very businesses that Trump says he is trying to protect have already spoken to the US Trade Representative to say that they are themselves getting hurt. Various experts in economics have presented possible outcomes, but many are hoping the two superpowers can find the wisdom to sit down, negotiate and reach a compromise. The sooner, the better. nnn

RECENTLY, a testimonial dinner was held to honor Dr. Nelly R. Ledesma at the AG New World Manila Bay Hotel. It was “an evening of appreciation, memories and thanksgiving hosted by the Philippine Society of Audiology.” Dr. Ledesma is the first Filipino Fellow of the American Academy of Audiology and the founder of the Ledesma Audiological Center (LAC), a diagnostic and rehabilitation center for the deaf

the waters of our region, the Philippines should not be complicit in this strategic maneuver. Taking into consideration the interests of other countries, the Philippines should also remain open to discussing the regional impact of the ruling. China will probably not attend, but we may proceed with other interested countries. To dispel any fear, we can have such discussions in a purely academic setting to begin with. There are many think tanks that would find such a discussion of great interest in contributing to a more clear, predictable and stable regional future. The Philippines should, of course, actively participate in any international or regional event that seeks to establish norms or rules, whether legally binding or soft-law, that would strengthen further the foundations of the Rule of Law in inter-state relations within the region. The South China Sea is not the only area of dispute in East Asia. Improvements in one might hopefully lead to amelioration elsewhere. In the case of the South China Sea, given the existence of multiple claimants, multilateral diplomacy is necessary. This means the involvement not just of other territorial claimants but also of other states that have varied interests in the South China Sea basin. So the member-states of Asean, the EAS and the ARF should be appropriately included for reasons of transparency and fairness to all concerned. Since we are far from a peaceful, final, and lasting political settlement of the South China Sea disputes, it makes eminent sense to promote interim trust and confidence-building measures and other

and hard of hearing. For decades, Dr. Ledesma has served communities nationwide by providing hearing care to those who need it. Through LAC, which has branches in Makati, Quezon City, Valenzuela, Legaspi, Baguio, Iloilo, Cagayan de Oro, and Davao City, she has been able to provide excellent services to clients and patients from all over the country. Dr. Ledesma and LAC carry out the vision of helping the Philippines become a deaf-free country. According to the DOH National Registry (2017), 17 percent of the country’s total population is hearing impaired. Out of this population, about 95 percent to 99 percent is unemployed. Through the work of Dr. Nelly Ledesma, those who have hearing impairment are given opportunities for education and employment. This translates to a brighter future for them and their loved ones, and ultimately to growth and development of community and country.

practical initiatives. These may not touch on borders or sovereignty questions, but would instead focus on such areas as fishing, marine environment, the safety of shipping and the avoidance of collisions and other untoward incidents at sea. However, we must take great care about resource-sharing arrangements. We must ensure that they conform to the Philippine Constitution and do not serve to undermine the Arbitral Ruling. Indeed, joint exploitation is so sensitive an issue we really should create a multisectoral consultative body, with our best legal minds, to assist the administration in developing this initiative. It behooves us moreover to be transparent in our intentions. The attitude of caution should also be present when we accept Chinese loans. Our country obviously needs greater investments to modernize infrastructure and sustain our growth to increase employment. Nonetheless, we should remain mindful of the numerous reports regarding so-called debt traps involving the injudicious use of loans from China in various countries. Our ultimate objective is to lay the foundations for predictability and stability. All we do before that are steps on the way to that objective, accomplished within a framework of diplomatic dialogue and cooperation reinforced by what should be a common commitment to the Rule of Law. The Rule of Law is the only principle that can transcend the interests of various jurisdictions in the sphere of international relations. If we do not adhere to the Rule of Law, then we consign our regional affairs to See “The Rule,” A11


Opinion BusinessMirror

www.businessmirror.com.ph

China censors bad economic news amid signs of slower growth

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It ain’t how you started Siegfred Bueno Mison, Esq.

By Sui-Lee Wee and Li Yuan | New York Times News Service

EIJING—China has long made it clear that reporting on politics, civil society and sensitive historical events is forbidden. Increasingly, it wants to keep negative news about the economy under control, too. A government directive sent to journalists in China on Friday named six economic topics to be “managed,” according to a copy of the order that was reviewed by The New York Times. The list of topics includes: n Worse-than-expected data that could show the economy is slowing. n Local government debt risks. n The impact of the trade war with the United States. n Signs of declining consumer confidence. n The risks of stagflation, or rising prices coupled with slowing economic growth. n “Hot-button issues to show the difficulties of people’s lives.” The government’s new directive betrays a mounting anxiety among Chinese leaders that the country could be heading into a growing economic slump. Even before the trade war between the United States and China, residents of the world’s second-largest economy were showing signs of keeping a tight grip on their wallets. Industrial profit growth has slowed for four consecutive months, and China’s stock market is near its lowest level in four years. “It’s possible that the situation is more serious than previously thought or that they want to prevent a panic,” said Zhang Ming, a retired political science professor from Renmin University in Beijing. Zhang said the effect of the expanded censorship strategy could more readily cause people to believe rumors about the economy. “They are worried about chaos,” he added. “But in barring the media from reporting, things may get more chaotic.” The directive didn’t appear to affect run-of-mill daily coverage of economic data, which could still be widely found online in China on Friday. Instead, the directive appeared to be aimed at easing the overall tone. Indeed, another notice sent on Friday instructed online news outlets to remove comments at the bottom of news articles that “bad-mouth the Chinese economy.” These topics pertain to “China’s economic downturn,” “China’s stagflation,” “new refugees,” “consumption downgrading” and “other harmful remarks that criticize the development prospects of China,” according to a copy of the notice reviewed by The Times. Consumption downgrading refers to Chinese consumers looking for ways to spend less. China’s propaganda department couldn’t be reached late Friday for comment. Negative economic news could undermine the careful message Chinese officials have tried to transmit to the public in recent months. They have said that the country’s vast and growing ranks of consumers, as well as China’s increasing sophistication in technology and other areas, would help it weather any ill effects from rising US tariffs. At the same time, officials have made moves to juice the economy. The government has loosened restrictions on big but costly local government projects like subways and light rail lines. It has also promised tax cuts for businesses and other efforts to boost construction. The trade war could certainly worsen the economic climate if it lingers, leading to job losses and even weaker consumer sentiment. But China has more

deep-seated economic problems. Officials are trying to clean up massive debts accumulated by local governments. Curbing debt could mean slower economic growth, as it deprives borrowers of the funds they would otherwise spend. China has long maintained a tight grip on the media, though the economy traditionally has been one of the freer domains of reporting. Even after China began more closely managing its economic message following market turmoil in 2015, aggressive journalists have covered the fallout of peer-to-peer online lending schemes and the problems posed by local government debt, among other issues. On paper, China’s gross domestic product, its main economic figure, indicates smooth sailing. But the figure is widely doubted, and many economists are forecasting a slowdown to varying degrees. Mark Williams, chief Asia economist of Capital Economics, said the firm expects the Chinese economy to slow down to 5 to 5.5 percent from 6.9 percent last year. Despite the lower forecast, he stressed that it was “not a weak number” for the Chinese economy. “One of the problems is there’s a lot of doubt about official Chinese data,” said Williams. “And when they come out with these directives, it just raises more questions.” In the past year, domestic news media have had to write their stories on the economy with a gentler tone, said a journalist covering finance for a Chinese business newspaper, who asked not to be named because of the sensitivity of the matter. Censors have also erased online commentary that contained the phrases “consumption downgrade,” taxes, debt and unemployment, according to the Journalism and Media Studies Centre at the University of Hong Kong, which monitors censorship on Weibo, China’s Twitter-like social media service. One post that was removed by censors said: “The bad news in the market is exploding, pessimistic viewpoints are spreading, many retail investors are in despair.” Another read: “Will the emergence of robots free up labor or cause unemployment and poverty?” The scrutiny over economic news adds to a broader pattern of the tightening of control over media since President Xi Jinping came into power in 2012. Particularly online, the Chinese government has centralized and beefed up regulatory agencies that monitor content. Recently, the agencies have come down harder on entertainment news and celebrity gossip, in addition to political and social issues. On Wednesday Phoenix News Media, a Hong Kong-based outlet with big operations in Mainland China, said that Chinese authorities had instructed it to “rectify” its news portal, ifeng.com. The Cyberspace Administration of China, the country’s main Internet regulator, said that Phoenix had “disseminated illegal and harmful information, distorted news headlines and shared news information in violation of rules.” Two weeks earlier, NetEase, an online news portal, said it had to suspend updating its financial platform “because of serious problems.”

‘G

THE PATRIOT

REAT is the art of beginning, but greater is the art of ending.” American poet and professor Henry Wadsworth Longfellow said that endings are worth more than beginnings. After all, results are often seen at the end. Take the case of golf professional Justin Rose. In his first 21 starts, he missed the cut and did not earn a single dollar. With hard work, he recently earned $10 million by winning the FedEx Cup tournament. Early in his Army career, Lt. General Carlito Galvez Jr. spent a few years in detention for participating in a military uprising against the government. In spite of this inauspicious beginning, he persevered and eventually assumed the highest position in the Armed Forces of the Philippines (AFP). In ancient history, King David started his reign with a few missteps and pursued sinful ways, adultery and murder no less. But, in the end, he placed his trust in the Lord and remained in faith to finally end up as

the one of the greatest kings of Israel. These are just some of the examples that demonstrate that a good ending can always make up for a bad beginning. At age 34, my friend and his family was badly hit by the Asian financial crisis in the late-1990s. Almost bankrupt, the family business was placed into corporate rehabilitation. With his personal credit standing adversely affected, no bank would approve any of my friend’s creditcard applications. With hard work, good fortune and sound advice,

Monday, October 1, 2018 A11

Geronimo Bella Jr. managed to salvage his fledging family company from corporate death. Under his stewardship, Harbor Star Shipping Services Inc. grew from a “fleet” of one tugboat in 1998 to its current 52 tugboats and barges with a gross revenue of close to P2 billion. With a successful initial public offering a few years ago, Harbor Star is now the leading tugboat company in the Philippines. Inspired by the team play format in the Ryder Cup, some friends and I recently played golf—Army Team (Fred USMA 1987 and USMA Sonny 1976) versus Lawyer Team ( Natus ADMU 1996 and Renny UE 2004). Down by three with four holes to go, Sonny and I stayed true to West Point’s favorite battlecry—“it’s never over until the fat lady sings.” True enough, the Army team won the next four holes and pulled off an improbable win. What does it take to recover from a bad start? Grit is sometimes known as intestinal fortitude that allows people to endure pain or hardship. Trust, in the context of recovering from a bad start, is more about believing in your own talents. Golfer Justin Rose, AFP General Galvez,

CPA examination in the Philippines

However, the number increased to four digits in 1949 until 1976, when the figures increased to more than 10,000 and reached a record high of 23,775 in 1984, but gradually tapered down to 7,654 in 1995. It climbed up to more than 11,000 in 1998, and steadily increased to 19,273 in 2015. Finally, it went up to more than 20,000 in 2016 until it reached a record high of 24,461 in 2017. I find some of the findings quite incredible and disturbing. It may also be for you. Do you know that the highest passing rate was 61 percent in 1942, when 20 out of 33 passed the exam, followed by 55 percent

in 1943, when 16 candidates out of 29 passed, and 50 percent out of 24 passed in 1945? Note that these happened during the war years. It was only during these times when the passers outperformed the flunkers. On the other hand, the lowest passing rate was 6 percent, in 1954, when 152 examinees out of 2,345 made it to the magic number. It makes me wonder why the passing rates had been consistently low, only twice in 86 years, when the passing rates were 61 percent and 55 percent, and once, when the passing and failing rate tied at 50 percent in 1945. Is it really that tough to hurdle the exam? No wonder examinees dread the thought of taking the exam. Or is there something wrong somewhere along the line? There could be three reasons: either the curriculum is faulty, the teaching is substandard or the exams do not correspond with the subject matters being taught. It makes me wonder whether there is a correspondence between the courses taught in schools and the examination questions. I believe that the Commission on Higher Education, the Board of Accountancy (BOA) and even the Philippine Institute of CPAs should look into the matter to see where the

problem lies and try to do something about it. It seems unfair to the students for schools to offer the BS in Accountancy programs when they produce no passers (as observed in my related study), especially when you consider that accounting education is long and expensive. Maybe the examiners should also look at their questions whether they are in synch with the subject matter. I cannot believe that the majority of accounting students could perform so badly. May I offer my humble suggestion—that BOA engage the help of highly qualified retired accounting professors to look at the past examination questions to see whether these questions are reasonable. With 81 units of core accounting courses being taught in schools, how come the results are so disappointing? This may help improve the performance of accounting examinees in the future and give hope to those who want to join the profession.

As I said at the beginning, there are those not happy, for reasons right and wrong, with the current status quo in many areas. The unifying principle that would help most in containing and eventually resolving international disputes is a solid adherence to the Rule of Law, through the different instruments and mechanisms that codify, explain and operationalize it. Of course, this includes Unclos and the Arbitral Ruling that clarified critical points of its application in the South China Sea. In conclusion, permit me to humbly leave a suggested approach on the table. As we continue to urgently request our government to seek a resolution from the UN

General Assembly to have China abide by the arbitral outcome, Filipino citizens can and should continue to discuss the subject. Not only at home, but with our friends and allies overseas. This can be done with think tanks, universities, CSOs and peoples organizations in a positive spirit of mutual engagement. I respectfully invite you, members of the Ateneo community, to join us in exploring—if you will—the various options on how we can move forward to pursue our respective entitlements and to make our region a safer place. One major purpose of our think tank entity—the Stratbase ADR Institute—is not to work at cross-

purposes with the administration. Rather, it is to help keep this singular legal achievement of our Republic in the public mind so all people can explore its full potential for consolidating the international Rule of Law. The future may be unclear and uncertain today. But fidelity to the Rule of Law and believing that right is might would buttress a truly independent foreign policy. Finally, how can each of us be helpful? We can help by understanding what is happening, by adding our voices to defend what is ours and by taking a united stand in upholding the Rule of Law and doing what is right. I thank you.

Dr. Lina Valcarcel

DEBIT CREDIT

A

RE you interested to know the results of the certified public accountants board examinations since it was first given? Here are my findings. The first board exam for CPA was given in May 1932. Since then up to 2017 the total number of those who took the exams was 718,089, of whom 182,320 passed, representing a passing rate of 25 percent. My observations came from the data gathered from the article written by Evangelista in The Accountants’ Journal (volume 44, First Quarter 1995), for the years 1932 to 1994. The 1995 to 1997 figures came from microfilm files compiled by Diosdado Cunanan, and the rest (1998-2016) came from various postings of the Board of Accountancy in its web site (from 1998 to 2016) compiled by Mary Ann Marasigan. Many of the board exams were given twice a year but the results were annualized for comparative purposes and to get more meaningful results. From 1932 to 1948 the number of examinees was less than a thousand.

‘The Rule’. . .

continued from A10

the clash of national interests without rules. The regional order would then be one where the strong will impose on the weak, and the regional order will be designed not to serve our shared interests in a prosperous and progressive future but the rival interests of great powers. The Philippines took a giant step in promoting the Rule of Law in our region, and indeed, for the whole world by recourse to arbitration. We are now at the crossroads of an opportunity which we should not let fall from our grasp. We are also beset by threats on all sides.

Musk steps down as Tesla’s chairman in settlement with SEC By Matthew Goldstein New York Times News Service

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LON MUSK, Tesla’s chief executive, under pressure from his lawyers and investors, reached a deal with the Securities and Exchange Commission (SEC) on Saturday to resolve a securities fraud case. The settlement will force Musk to step aside as chairman for three years and pay a $20million fine.

The SEC announced the deal two days after it sued Musk in federal court for fraud and misleading investors over his post on Twitter last month that he had “funding secured” for a buyout of the electric-car company at $420 a share. The deal will allow him to remain as chief executive, something he could have jeopardized if he had gone to battle with the agency. It is not clear why Musk changed

his mind. But people familiar with the situation said lawyers for Musk and the company moved to reopen the talks with the SEC on Friday. The whipsaw events of the past few days followed a series of selfinflicted wounds caused by Musk and his tweet about taking his company private. The tweet, along with attacks on critics on social media, also raised concerns among investors about whether he has become too focused

King David and Jun Bella all experienced some kind of adversity early in their careers. But, somehow they never gave up. They all exhibited grit and trust, enough to overcome several challenges at the start of their careers. We can all recover from a bad start with grit and trust, plus a perpetual hope that all things, good or bad, will come to pass. In the Bible, Romans 12:12 tells us, “Rejoice in hope, be patient in tribulation, be constant in prayer.” Robin Sharma once said, “Starting strong is good. Finishing strong is epic.” For those who started poorly in their careers, keep calm. The future is still out there for the taking. With hard work, it will get better. For those who started well, stay focused. The future can always be better. Regardless of how we started, we should be grounded and keep the faith. And, praying always helps! Psalm 91:1415 tells us, “Because he loves Me,” says the Lord, “I will rescue him; I will protect him, for he acknowledges my name. He will call on Me, and I will answer him; I will be with him in trouble, I will deliver him and honor him.” Grit. Trust. Hope. The recipe to recover from bad starts.

on criticism from the bearish investors known as short-sellers. The company did not immediately comment on the settlement. Shares of Tesla have been hit hard since the SEC filed the lawsuit. On Friday the stock dropped almost 14 percent. The terms are slightly tougher than those that two people briefed on the talks said Musk had rejected on Thursday, which called for a twoyear bar on serving as chairman

and a $10-million fine. Tesla, which is also settling, will pay a $20-million penalty. The company was not charged with any fraud. The company will add two independent directors and take steps to monitor Musk’s communications with investors. It will also create a permanent committee of independent directors to monitor disclosures and potential conflicts of interest.

Dr. Lina Valcarcel is an emeritus professor of the University of the Philippines Virata School of Business. 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.

Jay Clayton, the SEC chairman, said the settlement with Musk and Tesla sent a message that “when companies and corporate insiders make statements, they must act responsibly, including endeavoring to ensure the statements are not false or misleading.” In settling, Musk neither admitted nor denied misleading investors under the civil fraud charge, which means he cannot later say he did nothing wrong.



Editor: Efleda P. Campos

Companies BusinessMirror

Monday, October 1, 2018

B1

EDC sees better results in H2 after 21% income decline in H1

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By Lenie Lectura

@llectura

OPEZ-LED Energy Development Corp. (EDC) is expected to perform better in the second half of 2018 after posting a 21-percent decline in net income during the first six months of the year. “We’re expecting a recovery in the second half. Our return-to-service activities in Leyte have panned out better than our plans. So there’s been a significant acceleration on the returnto-service, and we are optimistic the company will recover both cash flow and profit this second half,” EDC President Richard Tantoco said. The country’s largest geothermal and wind-energy company posted

P4.1 billion in net income from January to June this year, down from the P5.2 billion it reported in the same period a year ago. Revenues also declined to P17.1 billion, down by 3 percent from P17.7 billion in the same period last year. EDC’s lower-half per formance was mainly affected by the damage brought about by Typhoon Urduja last December. The company’s geothermal power-generation volume in

Leyte was down by 18.5 percent for the first six months. “If you look at capacity factors, they are quite low because of natural disasters,” Tantoco said. EDC operates the Unified Leyte geothermal power facility in the same province. It consists of the 125-megawatt Upper Mahiao plant, the 232.5-MW Matlibog plant, the 180-MW Mahanagdong plant and the 51-MW Leyte optimization plants. It also operates the 112.5-MW Tongonan geothermal facility. Tantoco said “the capacity for most plants will increase a little bit,” noting that one unit of the Tongonan plant went online last May, three months ahead of schedule. “We’re spending a lot on resiliency, so the plants will be available,” he said. The company allocated P7 billion in capital expenditure this year mainly to improve reliability of its steam plants. The EDC currently delivers 1,472 MW of renewable energy to the country

in the form of hydro, solar and wind power apart from geothermal. EDC’s 150-MW Burgos Wind Farm is also the biggest in the country, while its almost 1,200-MW geothermal installed capacity accounts for 61 percent of the country’s total installed geothermal capacity. Tantoco said the company is looking at geothermal expansion projects that are being seriously considered to be included in the Department of Energy’s list of energy projects of national significance (EPNS). “We’d like to apply for EPNS because they’re important,” he said, adding the EDC would formally file its application “when we have a higher degree of certainty and confidence on the resource and the fact that the resource is not problematic.” This includes an expansion of an existing geothermal project on Mount Apo in Mindanao, and an expansion of its Bacon-Manito (BacMan) project.

The Mindanao geothermal expansion could reach a capacity of 20 MW to 60 MW, while BacMan could have about 40 MW to 60 MW, Tantoco said. The EDC also said it has effectively attained the sustainability goal of a carbon neutral status. A report said the company’s operations in the past year resulted in a carbon footprint of just over 790,000 CO2e (carbon dioxide equivalent)—amounting to only 22 percent of the carbon absorption of all the forests it has nurtured and managed in its geothermal reserva-

tions since EDC started operations four decades ago, and as part of the Binhi forest-restoration program the company began implementing in 2008. Such an achievement even makes EDC a carbon-negative enterprise, as industry experts would call it. Also known as being “climate positive,” it means the company has not only achieved climate neutrality or net-zero carbon emissions but has also contributed to removing additional carbon dioxide from the atmosphere.


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Companies BusinessMirror

Monday, October 1, 2018

PSE STOCK QUOTATIONS

September 28, 2018

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58.9 119 83.3 28.85 7.79 12.62 66.9 20.45 43 100.4 25.3 154 66.5 1.5 2.4 16.18 4.26 1.62 0.51 814 0.93 188.5 1,817

59.2 119.8 83.45 29 7.8 12.64 67 21.5 43.35 125 25.35 156 67 1.58 2.56 16.2 4.3 1.77 0.53 849 0.94 190 1,869

59 116 81.05 29.1 7.79 12.88 67.45 20.55 43.1 110 25.7 155.5 68 1.48 2.58 16.18 4.26 1.68 0.53 849 0.93 189 1850

59.2 119.8 83.7 29.9 7.79 12.92 68.8 20.55 43.5 125 25.7 159.8 68 1.58 2.58 16.46 4.3 1.76 0.53 849 0.95 189 1,850

58.8 116 81.05 28.85 7.79 12.64 67 20.45 43 110 25.3 154 64.5 1.48 2.57 16.18 4.25 1.58 0.51 849 0.92 188.5 1,815

59.2 119.8 83.3 28.85 7.79 12.64 67 20.45 43 125 25.3 154 67 1.58 2.57 16.2 4.3 1.62 0.51 849 0.93 188.5 1,815

74,180 4,379,986.5 2,335,270 278,364,004 3,277,500 273,400,225.5 186,000 5,399,065 300 2,337 300,100 3,804,674 4,036,170 273,856,712.5 ( 1,000 20,515 73,400 3,167,985 10,170 1,254,822 26,100 663,195 715,370 111,961,363 58,980 3,943,764 5,000 7,800 2,000 5,150 5,900 96,450 137,000 584,170 330,000 551,720 847,000 438,340 10 8,490 515,000 478,000 1,470 277,151 120 218,900

INDUSTRIAL

ALSONS CONS 1.28 1.3 1.26 1.31 1.25 1.3 948,000 1,212,270 ABOITIZ POWER 33.3 33.45 36 36 33.45 33.45 3,383,900 116,358,710 BASIC ENERGY 0.219 0.223 0.217 0.224 0.217 0.224 310,000 68,050 ENERGY DEVT 7.07 7.08 7.07 7.08 7.06 7.08 1,764,900 12,467,483 FIRST GEN 16.74 16.76 16.74 16.8 16.72 16.76 1,080,500 18,110,124 FIRST PHIL HLDG 64 64.5 64.6 64.6 63.3 64.5 77,330 4,967,786.5 PHIL H2O 4.88 4.9 5 5 4.9 4.9 39,000 192,305 MERALCO 339.6 340 346.8 346.8 340 340 529,600 180,759,238 MANILA WATER 24.4 24.5 24.3 24.7 24.3 24.5 2,290,300 56,108,590 PETRON 8.69 8.81 8.9 8.9 8.69 8.69 1,168,800 10,208,113 PETROENERGY 4.15 4.17 4.25 4.25 4.16 4.17 65,000 271,250 PHINMA ENERGY 1 1.01 1 1.01 0.98 1 213,000 213,400 PHX PETROLEUM 10.5 10.6 10.5 10.72 10.5 10.72 34,100 359,502 PILIPINAS SHELL 52.65 52.75 53.6 54 52.6 52.75 421,690 22,360,107.5 ( SPC POWER 5.55 5.72 5.75 5.75 5.72 5.72 8,100 46,420 VIVANT 18.04 20.45 19 19 19 19 1,000 19,000 AGRINURTURE 18.1 18.16 18 18.16 17.92 18.16 898,700 16,250,546 CNTRL AZUCARERA 17.6 17.7 18.34 18.34 17.6 17.6 8,600 152,204 CENTURY FOOD 14.2 14.4 14.34 14.34 14.1 14.2 120,800 1,715,544 DEL MONTE 7.45 7.46 7.48 7.48 7.45 7.45 3,100 23,158 DNL INDUS 9.84 9.85 10.14 10.14 9.85 9.85 6,846,200 68,200,324 EMPERADOR 7.03 7.04 7.06 7.06 7.03 7.04 439,900 3,099,245 SMC FOODANDBEV 96.5 96.9 96 97.05 95.95 96.9 511,400 49,478,477.5 ALLIANCE SELECT 1.03 1.04 1.03 1.07 1.02 1.03 5,264,000 5,486,370 GINEBRA 27.9 28.95 28.1 29 28.1 29 700 20,120 JOLLIBEE 256.8 257 262 265 257 257 605,490 156,812,492 MAXS GROUP 11.66 11.7 12 12 11.66 11.7 102,800 1,203,298 MG HLDG 0.177 0.184 0.185 0.185 0.185 0.185 10,000 1,850 PEPSI COLA 1.8 1.82 1.79 1.86 1.79 1.8 88,000 159,720 SHAKEYS PIZZA 11.7 11.98 11.8 12 11.7 12 28,300 333,922 ROXAS AND CO 2.66 2.68 2.95 2.95 2.62 2.68 5,893,000 16,044,790 RFM CORP 4.82 4.85 4.84 4.86 4.84 4.85 6,226,000 30,146,110 ROXAS HLDG 3 3.1 2.99 3 2.99 3 6,000 17,980 SWIFT FOODS 0.123 0.128 0.124 0.124 0.124 0.124 100,000 12,400 UNIV ROBINA 144.5 145 144.2 147.3 144.2 144.5 745,690 108,722,486 6 VITARICH 2.04 2.05 2.04 2.08 2.04 2.05 1,401,000 2,878,360 VICTORIAS 2.45 2.5 2.5 2.5 2.5 2.5 50,000 125,000 CEMEX HLDG 2.38 2.4 2.36 2.42 2.33 2.38 5,277,000 12,541,950 EAGLE CEMENT 15.26 15.48 15.72 15.72 15.44 15.48 334,200 5,176,328 EEI CORP 8.47 8.5 8.5 8.6 8.5 8.5 48,300 413,140 HOLCIM 6.84 6.92 6.84 6.93 6.84 6.92 17,700 122,497 MEGAWIDE 15.32 15.5 15.5 15.78 15.3 15.5 4,167,900 64,796,234 PHINMA 9 9.1 8.9 9 8.9 9 76,300 683,489 TKC METALS 0.98 1 0.98 1 0.97 1 103,000 100,160 VULCAN INDL 1.98 1.99 2.03 2.08 1.95 1.98 7,664,000 15,379,030 CROWN ASIA 1.7 1.71 1.71 1.71 1.7 1.71 312,000 533,420 EUROMED 1.4 1.69 1.58 1.58 1.58 1.58 10,000 15,800 LMG CHEMICALS 4.82 4.9 4.84 4.84 4.84 4.84 40,000 193,600 PRYCE CORP 5.75 5.99 5.75 5.75 5.75 5.75 3,000 17,250 CONCEPCION 37.9 38 38.05 38.5 38 38.5 90,700 3,461,610(3, INTEGRATED MICR 12.24 12.28 11.92 12.42 11.92 12.24 976,400 11,939,144 IONICS 1.84 1.86 1.86 1.9 1.84 1.86 297,000 552,160 SFA SEMICON 1.53 1.58 1.52 1.6 1.52 1.58 31,000 48,970 CIRTEK HLDG 33.4 33.5 33.8 34 33.5 33.5 421,900 14,158,075 HOLDING & FRIMS ABACORE CAPITAL 0.43 0.435 0.43 0.47 0.425 0.43 144,830,000 65,134,850 ASIABEST GROUP 27.15 27.3 27.35 28 26.75 27.2 135,000 3,671,525 AYALA CORP 928 945 949.5 958 928 928 228,060 215,297,195 ABOITIZ EQUITY 48.95 49 50 51 48.35 49 969,600 47,595,220 ALLIANCE GLOBAL 12.44 12.48 12.6 12.64 12.4 12.48 2,485,200 31,083,848 ANSCOR 6.05 6.11 6 6 5.95 5.95 31,600 188,880 ATN HLDG A 1.29 1.3 1.21 1.3 1.2 1.29 50,848,000 63,123,460 ATN HLDG B 1.28 1.29 1.24 1.3 1.2 1.28 8,627,000 10,765,590 COSCO CAPITAL 5.8 5.84 5.83 5.91 5.79 5.8 985,000 5,723,544 DMCI HLDG 11.36 11.38 11.4 11.54 11.38 11.38 5,366,800 61,348,752 FILINVEST DEV 7.11 7.21 7.21 7.21 7.11 7.11 8,600 61,426 GT CAPITAL 813 820 813.5 831 812 820 49,520 40,692,325 JG SUMMIT 53.9 53.95 55.3 55.8 53.95 53.95 1,022,050 55,636,382 JOLLIVILLE HLDG 5.06 5.49 5.06 5.06 5.06 5.06 200 1,012 LODESTAR 0.55 0.57 0.57 0.57 0.55 0.57 6,000 3,360 LOPEZ HLDG 4.42 4.43 4.47 4.83 4.4 4.43 3,706,000 16,752,590 LT GROUP 14.4 14.58 15.2 15.2 14.4 14.4 14,460,400 209,476,068 MABUHAY HLDG 0.58 0.6 0.61 0.62 0.58 0.6 686,000 408,840 METRO PAC INV 4.75 4.8 4.8 4.9 4.75 4.75 28,175,000 135,777,370 PACIFICA 0.038 0.04 0.039 0.04 0.038 0.04 8,000,000 310,400 PRIME ORION 2.44 2.45 2.45 2.5 2.45 2.45 682,000 1,674,150 PRIME MEDIA 1.19 1.2 1.19 1.19 1.19 1.19 9,000 10,710 SOLID GROUP 1.38 1.4 1.4 1.4 1.38 1.4 234,000 323,750 SM INVESTMENTS 904 904.5 898 912 896.5 904 517,870 468,168,925 SAN MIGUEL CORP 169 169.5 169 169.8 167.5 169.5 336,230 56,969,363 SOC RESOURCES 0.76 0.81 0.81 0.81 0.81 0.81 140,000 113,400 TOP FRONTIER 277 280 278 280 278 280 2,550 713,938 WELLEX INDUS 0.265 0.27 0.27 0.285 0.27 0.27 1,190,000 324,250 PROPERTY ARTHALAND CORP 0.64 0.65 0.68 0.68 0.65 0.65 320,000 208,180 ANCHOR LAND 11.06 11.98 12 12 10.98 11.04 8,000 88,354 AYALA LAND 40 40.05 40.65 41.25 40 40.05 9,919,200 399,019,725 BELLE CORP 2.42 2.49 2.51 2.65 2.42 2.42 1,822,000 4,484,570 A BROWN 0.85 0.87 0.88 0.88 0.85 0.87 262,000 226,380 CITYLAND DEVT 0.92 0.93 0.93 0.93 0.92 0.92 14,574,000 13,408,280 CROWN EQUITIES 0.225 0.233 0.222 0.233 0.221 0.233 9,940,000 2,267,340 CEBU HLDG 5.37 5.4 5.35 5.37 5.35 5.37 21,500 115,409 CEB LANDMASTERS 4.29 4.42 4.36 4.42 4.29 4.42 361,000 1,592,110 CENTURY PROP 0.44 0.445 0.435 0.445 0.435 0.445 4,490,000 1,975,400 CYBER BAY 0.39 0.415 0.395 0.395 0.39 0.39 210,000 82,600 DOUBLEDRAGON 19.4 19.5 19 20.25 18.72 19.5 711,700 13,819,843 DM WENCESLAO 8.34 8.49 8.51 8.65 8.34 8.34 854,000 7,267,778 FILINVEST LAND 1.43 1.44 1.43 1.45 1.43 1.43 2,297,000 3,299,620 GLOBAL ESTATE 1.12 1.15 1.1 1.15 1.1 1.15 276,000 306,420 8990 HLDG 7.24 7.28 7.22 7.3 7.22 7.28 180,200 1,309,476 IRC PROP 2.3 2.31 2.37 2.37 2.23 2.3 12,511,000 28,669,870 CITY AND LAND 0.93 0.94 0.94 0.97 0.94 0.97 94,000 89,300 MEGAWORLD 4.4 4.41 4.44 4.44 4.37 4.4 8,627,000 37,964,870 MRC ALLIED 0.62 0.63 0.64 0.65 0.61 0.62 72,478,000 45,723,170 PHIL ESTATES 0.445 0.45 0.44 0.45 0.44 0.445 630,000 280,300 PRIMEX CORP 3.94 3.99 3.86 4.1 3.85 3.99 1,126,000 4,458,420 ROBINSONS LAND 20.2 20.3 20.4 20.4 19.9 20.3 888,400 17,990,635 ( PHIL REALTY 0.425 0.44 0.435 0.435 0.42 0.435 410,000 177,600 ROCKWELL 1.92 1.99 1.98 1.98 1.92 1.92 210,000 407,150 SHANG PROP 3.16 3.17 3.17 3.17 3.17 3.17 30,000 95,100 STA LUCIA LAND 1.15 1.18 1.17 1.18 1.15 1.18 377,000 441,920 SM PRIME HLDG 36.1 36.15 37 37.1 36.15 36.15 12,400,100 451,809,305 STARMALLS 6.5 6.57 6.52 6.6 6.45 6.57 118,400 771,347 VISTA LAND 6.05 6.09 6.04 6.17 6.04 6.09 2,580,900 15,710,718 SERVICES ABS CBN 21.25 21.3 20.9 21.3 20.9 21.3 105,400 2,208,210 GMA NETWORK 5.36 5.37 5.39 5.39 5.37 5.37 73,600 395,740 GLOBE TELECOM 2,200 2,202 2200 2,210 2,194 2,200 136,125 299,564,470 PLDT 1,349 1,350 1311 1,363 1,311 1,350 203,125 273,255,645 APOLLO GLOBAL 0.043 0.044 0.044 0.044 0.043 0.043 2,200,000 95,800 DFNN INC 8.61 8.99 8.72 8.72 8.61 8.61 17,200 149,464 IMPERIAL 2 2.15 2 2 2 2 56,000 112,000 ISLAND INFO 0.116 0.117 0.114 0.117 0.113 0.116 1,340,000 154,060 ISM COMM 2.83 2.85 2.94 3.01 2.82 2.83 4,290,000 12,372,630 JACKSTONES 3.35 3.51 3.35 3.53 3.33 3.53 24,000 81,960 NOW CORP 7.31 7.33 7.4 7.46 7.31 7.31 741,900 5,473,776 TRANSPACIFIC BR 0.55 0.56 0.56 0.58 0.55 0.56 48,248,000 27,122,660 ( PHILWEB 4.38 4.39 4.39 4.39 4.33 4.39 178,000 778,590 2GO GROUP 11.22 11.3 11.48 11.48 11.2 11.3 12,500 141,990 CEBU AIR 70 71.65 72.5 72.55 70 70 253,010 17,906,208 CHELSEA 5.49 5.5 5.6 5.65 5.5 5.5 405,600 2,252,465 INTL CONTAINER 94 94.1 92.5 95 92.5 94.1 637,750 59,934,081 LBC EXPRESS 14.2 14.74 14.22 14.22 14.2 14.2 3,900 55,384 LORENZO SHIPPNG 0.92 0.96 0.97 0.97 0.93 0.96 135,000 127,580 MACROASIA 16 16.02 16.1 16.26 16 16 1,088,300 17,455,966 METROALLIANCE A 1.43 1.56 1.59 1.59 1.54 1.56 23,000 35,600 METROALLIANCE B 1.4 1.49 1.49 1.49 1.49 1.49 2,000 2,980 PAL HLDG 8.2 8.69 8.2 8.25 8.2 8.25 3,900 32,026 HARBOR STAR 2.71 2.72 2.7 2.78 2.7 2.72 936,000 2,560,520 BOULEVARD HLDG 0.06 0.062 0.061 0.062 0.06 0.06 10,430,000 634,810 WATERFRONT 0.67 0.69 0.69 0.69 0.67 0.67 928,000 630,730 CENTRO ESCOLAR 8.1 8.48 7.97 8.12 7.97 8.12 165,000 1,322,050 FAR EASTERN U 890 919 900 900 900 900 50 45,000 STI HLDG 0.89 0.9 0.9 0.92 0.88 0.89 19,030,000 17,094,090 BERJAYA 1.9 1.92 1.91 1.95 1.89 1.92 4,970,000 9,557,730 BLOOMBERRY 8.76 8.77 8.8 9.06 8.77 8.77 8,670,300 77,043,544 PACIFIC ONLINE 10.8 10.9 10.98 10.98 10.9 10.9 5,500 60,350 LEISURE AND RES 3.61 3.63 3.61 3.66 3.61 3.61 2,275,000 8,216,390 MANILA JOCKEY 5.65 5.78 5.55 5.8 5.55 5.79 1,800 10,280 MELCO RESORTS 7.01 7.05 7.01 7.05 7 7.05 12,055,300 84,517,872 PREMIUM LEISURE 0.87 0.88 0.89 0.89 0.87 0.87 2,544,000 2,227,700 TRAVELLERS 5.19 5.2 5.15 5.2 5.15 5.2 460,800 2,387,175 METRO RETAIL 2.43 2.45 2.48 2.48 2.43 2.45 329,000 807,840 PUREGOLD 45 45.2 45.7 45.8 45 45 172,300 7,770,390 ROBINSONS RTL 79.7 80 81.9 81.9 79 79.7 826,780 65,928,226 PHIL SEVEN CORP 101.5 101.8 102 102 101.8 101.8 18,070 1,843,027 SSI GROUP 2.21 2.22 2.2 2.24 2.2 2.22 5,508,000 12,217,120 WILCON DEPOT 10.3 10.38 10.04 10.4 10.04 10.3 1,157,500 11,845,080(9, APC GROUP 0.47 0.475 0.475 0.48 0.47 0.475 3,140,000 1,485,950 EASYCALL 22.35 22.4 23.35 23.35 22.2 22.4 12,900 289,645 GOLDEN BRIA 310 314 310 314 293 314 6,590 2,034,374 IPM HLDG 7.7 7.75 7.75 7.75 7.75 7.75 7,000 54,250 PAXYS 3.12 3.37 3.05 3.39 3.05 3.37 9,000 29,940 PRMIERE HORIZON 0.38 0.39 0.385 0.39 0.375 0.39 1,970,000 760,750 SBS PHIL CORP 7.76 7.8 7.95 7.95 7.76 7.8 7,000 54,685 MINING & OIL ATOK 17.02 18.36 18.4 18.4 18.4 18.4 500 9,200 APEX MINING 1.47 1.48 1.47 1.5 1.46 1.48 670,000 987,610 ABRA MINING 0.0023 0.0025 0 0.0024 0.0024 0.0023 0.0023 168,000,000 399,700 ATLAS MINING 3.01 3.05 3.01 3.01 3.01 3.01 60,000 180,600 CENTURY PEAK 1.92 1.95 1.92 1.92 1.91 1.92 53,000 101,370 DIZON MINES 7.1 7.16 7.14 7.16 7.11 7.16 27,200 193,688 FERRONICKEL 1.85 1.86 1.85 1.86 1.83 1.86 356,000 658,970 GEOGRACE 0.205 0.208 0.204 0.21 0.202 0.208 420,000 86,120 LEPANTO A 0.111 0.114 0.115 0.115 0.111 0.111 610,000 68,780 LEPANTO B 0.111 0.12 0.12 0.12 0.111 0.111 30,000 3,420 MANILA MINING A 0.007 0.0079 0.007 0.007 0.007 0.007 2,000,000 14,000 MANILA MINING B 0.007 0.0079 0 0.0073 0.0073 0.007 0.007 35,000,000 245,600 MARCVENTURES 1.21 1.22 1.2 1.3 1.2 1.22 66,000 80,900 NIHAO 1.08 1.15 1.16 1.16 1.11 1.15 15,000 16,780 NICKEL ASIA 4.38 4.5 4.4 4.4 4.37 4.38 964,000 4,229,880 OMICO CORP 0.64 0.65 0.65 0.65 0.63 0.65 980,000 632,820 ORNTL PENINSULA 1.13 1.14 1.17 1.17 1.12 1.14 862,000 983,320 PX MINING 3.32 3.34 3.32 3.34 3.32 3.34 498,000 1,660,100 SEMIRARA MINING 26.7 27.1 27 27.35 26.7 26.7 1,076,000 28,998,280 UNITED PARAGON 0.0065 0.0073 0 0.0065 0.0068 0.0065 0.0068 13,000,000 87,200 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 101,600,000 1,220,300 ORNTL PETROL B 0.013 0.014 0.014 0.014 0.014 0.014 2,600,000 36,400 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.012 10,900,000 125,400 PHINMA PETRO 3.45 3.6 3.65 3.65 3.45 3.6 79,000 275,880 PXP ENERGY 15.36 15.5 15.52 15.98 15.36 15.5 741,900 11,538,108

4,367,618 82,905,594 (88,004,988) (1,919,900) (863,950) 32,694,467.5) (1,954,905) (334,780) (52,604,966) (352,804) (32,400) 10,600 151,200 (31,998,070) (9,637,329) 10,248,900 856,351.5 (5,605,568) (143,730) (8,372,267) (8,500) 10,856,864.5) (1,155,610) (131,976) (16,205,091) (386,093) 18,872,796 (22,950) (52,732,468) 883,500 (32,550) 106,800 (2,092,710) ,747,358.9996 100,999.9999 125,000 (1,033,300) 4,751,910 (255,040) (22,381,298) (309,520) 446,399.9999) 7,285,300 (20,900) (207,150) 89,450 9,347,085 1,847,130 (5,111,974) 99,600 (397,420) 872,571 (19,741,290) 3,080,425 4,536,987 (6,135,390) 4,883,820 (22,124,740) 49,000 153,124,670 1,148,234 (302,398) 47,250 (94,117,715) (3,325,530) (3,440) (455,260) 11,700 (2,056,540) (3,369,840) (331,940) 674,560 525,790 18,987,180 1,837,550 299,230 574,775.9996) 4,200 (95,100) (103,876,790) (11,004,470) 52,718,850 132,533,905 4,305 23,000 83,220 778,530.0002) (8,780) 11,200 (7,780,854) 10,156,841 (4,411,302) 24,630 (95,949.9997) (12,400) (105,320) (3,650,910) (17,401,091) (272,130) (47,179,236) (381,260) (7,400) (3,416,570) (11,502,966) 31,565 3,801,490 562,983.9999) (750,168) 465,500 (12,040) (209,320) 210,000 (2,591,980) 1,120 (89,640) (5,189,875) 28,000 (11,232)

PREFFERED HOUSE PREF A 95.2 96.5 95.2 96.5 95.2 95.2 510 48,682 AC PREF B1 485 495 486 486 485 485 2,000 970,020 AC PREF B2 491 502 495 495 490 495 2,020 990,400 DD PREF 99.5 100 100 100 99 99.5 44,220 4,380,400 SMC FB PREF 2 980 1,000 1000 1,000 1,000 1,000 300 300,000 FGEN PREF G 101 103 103 103 103 103 80 8,240 GLO PREF P 490 495 490 490 490 490 5,200 2,548,000 LR PREF 1.02 1.04 1.04 1.04 1.04 1.04 1,000 1,040 PCOR PREF 2B 1,010 1,047 1047 1,047 1,047 1,047 5 5,235 SMC PREF 2B 75.1 76.45 76.45 76.45 76.45 76.45 80 6,116 SMC PREF 2C 78.05 78.1 78.15 78.15 78.1 78.1 970 75,765 SMC PREF 2D 72.1 75 75 75 75 75 1,000 75,000 SMC PREF 2F 74.55 75 74.95 75 74.95 75 43,560 3,266,985 SMC PREF 2G 75 75.5 75 75 75 75 3,200 240,000 SMC PREF 2H 73.75 75 74 75 72.5 75 12,500 936,090 SMC PREF 2I 75 75.9 74.95 75 74.95 75 455,330 34,149,575

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.2 5.16

19.42 5.17

19.5 5.2

19.5 5.2

19.2 5.17

19.2 5.17

374,600 100,000

7,201,306 517,600

WARRANTS LR WARRANT

2.37

SMALL & MEDIUM ENTERPRISES TALPINAS 5.24 XURPAS 2.18 109.2

(903,706) (413,600)

2.4

2.36

2.4

2.36

2.36

51,000

120,880

(59,240)

5.26 2.19

5.26 2.26

5.4 2.26

5.24 2.15

5.24 2.18

655,100 902,000

3,461,378 1,962,600

(64,520) (91,540)

EXHANGE TRADE FUNDS FIRST METRO ETF

-

110

109.1

110.2

109

109.2

7,430

815,997

-

www.businessmirror.com.ph

Globe Telecom: Proposed rules on telco-tower infra ‘retrogressive’

A

By Lorenz S. Marasigan

@lorenzmarasigan

N executive of Globe Telecom Inc. has described the draft rules of the proposed policy on telco tower infrastructure as “anticompetitive, retrogressive and against global best practice.” Globe General Counsel Froilan M. Castelo said the proposed policy, which currently limits the building of cell towers to two independent and private tower companies, will not help the country achieve its goal of setting up as many towers as possible. “The proposed rule of limiting the entire tower sub-industry again only to two independent, private tower companies is anti-competitive, retrogressive, and against global best practice,” he said. Instead, the government must allow existing telcos to set up their own infrastructure, concurrent tower buildup that the tower companies (towercos) will be tasked to do. He added that incumbents and future telcos should be allowed to have a stake in tower companies. Globe subsidiary GTowers Inc. was recently incorporated to hold all tower assets of Globe. These assets—numbering about 7,000—will be available for rent for other telcos.

“The establishment of tower companies in the Philippines will provide quicker deployment of cell sites, remove redundancy in tower locations, save capital resources, as well as provide a level-playing field for mobile network operators. Tower companies can emerge as an important subindustry of telcos,” Castelo said. Based on a study made by TowerXchange, an independent community for operators, tower companies, investors and suppliers interested in emerging-market telecom towers, the Philippines lags behind its neighbors in Asia when it comes to cell-site build. The number of unique physical cell sites in the Philippines is one of the lowest in Asia, with a combined total of 16,300 cell sites. Demand for cellular towers in the country is pegged at 70,000 sites. With 113 million mobile subscribers and only 16,300 towers from PLDT Inc. and Globe servicing

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices fell for the fourth straight week last week as trading was anemic since investors stayed on the sidelines waiting for things to happen. The benchmark Philippine Stock Exchange index fell 106.18 points to close at 7,276.82 points. Foreign investors dumped local shares and were net sellers at P1.79 billion. The average volume of trade only reached P4.47 billion, as there were days when the market only received as low as P3.39 billion in value of shares traded. “The bottom line is the market traded sideways this week with a very low trading value. Turnover value for the week was way below average at P22.38 billion,” said Christopher Mangun, research head at Eagle Equities Inc. The market was up at the start of the week, but went down for two straight days and went up again on Thursday when the Central Bank raised its key rates by 50 basis points. “The 50-basis-point rate increase failed to have an impact on the market this week as investors sat on the sidelines,” he said. Among the subindices, only the Holding Firms went up by 50.5 points to 7,159.03. All others closed in the red. The All Shares index fell 42.48 to 4,464.92; the Financials index shed 28.74 to 1,620.56; the Industrial index plunged 474.22 to 10,647.53; the Property index declined 87.15 to 3,620.84; the Services index was down 10.27 to 1,494.97; and the Mining and Oil index dropped 67.25 to 8,972. For the week, losers edged gainers 130 to 93, and 22 shares were unchanged. Top gainers were STI Education Systems Holdings Inc., Philippine Trust Co., Bloomberry Resorts Corp., Alsons Consolidated Resources Inc., Panasonic Manufacturing Philippines Corp. and Pepsi-Cola Products Philippines Inc. Top losers were MRC Allied Inc., Omico Corp., Benguet Corp. B, Cemex Holdings Philippines Inc., United Paragon Mining Corp. and Cirtek Paragon Mining Corp.

THIS WEEK

SHARE prices will again try to consolidate this week, the start of trading for the fourth quarter of the year, but analysts said economic figures would still be the main driver of the movement. “The release of September’s inflation is next in line, with early indications it could spike up as a result of Typhoon Ompong’s onslaught on agricultural produce,” broker 2TradeAsia said. From August’s 6.4 percent, consensus ranges between 7.1 percent and 7.4 percent, which would bring the nine-month average from 5 percent to 5.1 percent. “While investors will consider the volatile nature of agri items on the consumer basket, several will take heed on the effectiveness of fiscal measures to mitigate the spike, which includes boosting supply via importation of key staple items,” it added. Mangun, meanwhile, said based on its technical readings, there is indication that selling is exhausted. “We may see the index end in the green next week. We may see more investors get back into the market next week as the 50-basis-point interest rate increase that hap-

pened may be seen as a positive that the government is doing something about the continuing rise in inflation,” he said.

STOCK PICKS

BROKER Regina Capital and Development Corp. gave a hold recommendation on the stock of Security Bank Corp. after the continued three-week selloff. “This accelerated the indicators’ bearish movement,” the broker said. It placed a weekly target on the stock at P151. Security Bank closed on Friday at P154 per share. Meanwhile, the broker gave a buy rating on the stock of Metropolitan Bank and Trust Co., but only when its support price of P64 per share holds. “Indicators remain to show bearish signals, but its momentum has waned,” the broker said. “The stock has recovered from a decline from last month, but is still trading below both short- and long-term moving averages,” it added. Metrobank shares closed on Friday at P67 per share. VG Cabuag

them, the Philippines has the lowest tower-density score in Asia, with a meagre 0.14 to Asia’s current giant China’s 1.43. “We cannot see why and how only two towercos, private and independent at that, can help overcome the bureaucracy in building cell sites. Right now, it takes an average of 25 permits and adding up the time to acquire right-of-way, it will take an average of eight months to build a single cell site,” Castelo said. He added: “These supposed two private independent towercos will not be better than us because they will be subjected to the same difficulties we are currently facing.” Being ba r red f rom building their own sites, Castelo said the government may not achieve its goal of setting up an additional 50,000 towers for telco use.

MUTUAL FUNDS

briefs

IRISH FIRM LAUNCHES BACKUP SOLUTION FOR SMES IN PHL

INFORMATION-TECHNOLOGY (IT) management solutions provider Kaseya has launched its integrated backup system to help various industries improve business and cost efficiency. Banks, financials, telco, business-process outsourcing, media outfits, manufacturing, food, hotel, leisure and retail companies, as well as small and medium enterprises stand to benefit from Kaseya Unified Backup powered by Unitrends. Roderick L. Abad

ANTONIO-LED FIRM TO PRODUCE PREFABRICATED STRUCTURES IN ZIMBABWE

ANTONIO-LED Revolution Precrafted Inc. said it will start producing prefabricated medical pop-up structures after signing a nonexclusive dealership agreement with Zimbabwe-based African Tsaleach Private Ltd. Zimbabwe is the first African market for the prefab firm, and 25th overall globally as it continues its worldwide expansion mode. This will be the first time the company will be producing modular medical pop-ups, as it sees the need for more medical facilities in the southern African country. VG Cabuag

September 28, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC * 248.77 -12.4% 0.21% 1.07% -15.15% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3782 -14.44% 3.99% 1.9% -13.69% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8681 -12.7% 1.55% 0.13% -15.78% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8879 -11.7% N.A. N.A. -12.69% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8163 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.168 -9.92% -0.71% 0.53% -14.05% MBG EQUITY INVESTMENT FUND, INC. * ****** 115.89 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8277 -15.17% N.A. N.A. -16.62% PAMI EQUITY INDEX FUND, INC.* 48.4468 -10.47% 1.3% N.A. -14.09% PHILAM STRATEGIC GROWTH FUND, INC.* 503.21 -11.69% -0.21% -0.21% -14.49% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2368 -8.95% 1.56% N.A. -11.93% PHILEQUITY FUND, INC.* 36.0995 -8.54% 2.12% 2.93% -12.16% PHILEQUITY PSE INDEX FUND INC.* 4.8718 -11.09% 1.88% 2.88% -14.14% PHILIPPINE STOCK INDEX FUND CORP.* 813.06 -10.77% 1.63% 2.56% -14.03% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8373 -10.6% -0.88% N.A. -13.42% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 4.0032 -9.49% 1.48% 1.52% -12.6% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.938 -11.08% 1.71% N.A. -14.2% UNITED FUND, INC.* 3.4482 -6.72% 2.79% 1.15% -11.45% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** ● 108.6749 -10.32% 2.85% N.A. -13.72% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC.** $1.0198 -1.97% 5.63% 1.11% -7.99% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.3084 9.96% N.A. N.A. 3.41% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6403 -10.01% -2.61% -1.72% -11.98% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1938 -8.73% 0.51% 0.38% -10.71% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.5044 -7.36% -2.58% -2.36% -9.59% GREPALIFE BALANCED FUND CORPORATION* **** 1.3027 -9.22% N.A. N.A. -10.46% NCM MUTUAL FUND OF THE PHILS., INC* 1.8226 -6.09% 0.46% 0.2% -8.53% PAMI HORIZON FUND, INC.* 3.4733 -9.6% -1.16% -0.84% -11.35% PHILAM FUND, INC.* 15.5825 -9.79% -1.2% -0.9% -11.25% SOLIDARITAS FUND, INC.* ******** 2.0405 -7.38% 0.52% 1.85% -8.99% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6195 -7.24% -0.06% 0.38% -9.43% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9223 -7.09% -0.31% N.A. -9.61% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03503 -2.91% -0.08% 2.21% -2.96% PAMI ASIA BALANCED FUND, INC.* $0.9838 -2.76% 4.29% -0.58% -6.04% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.6939 5.64% 6.49% 3.76% 1.13% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0961 0.57% N.A. N.A. -1.45% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.53 1.57% 1.79% 1.72% 1.31% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8576 -1.53% -1.18% -0.32% -1.83% COCOLIFE FIXED INCOME FUND, INC.* 2.9346 5.5% 5.36% 5.34% 3.99% EKKLESIA MUTUAL FUND INC.* 2.1207 -0.01% 1.06% 1.09% 0.88% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2175 -0.04% -0.01% 0.24% 0.06% GREPALIFE FIXED INCOME FUND CORP.* P 1.5751 -2.21% -1.71% -1.47% -2.14% PHILAM BOND FUND, INC.* 3.8574 -5.81% -1.92% -0.83% -4.76% PHILEQUITY PESO BOND FUND, INC.* 3.4667 -0.9% -0.58% -0.01% -1.09% SOLDIVO BOND FUND, INC. * 0.886 -4.95% -2.12% N.A. -4.03% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7584 -0.25% -0.08% 0.33% -0.67% SUN LIFE PROSPERITY GS FUND, INC.* 1.5315 -1.15% -0.45% -0.26% -1.17% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.4 0.22% 2.32% 3.15% -0.12% ALFM EURO BOND FUND, INC. * Є213.11 0.43% 1.31% 1.67% -0.29% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1212 -1.04% 1.06% 1.82% -1.14% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -0.8% 0.68% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.7012 -4.67% -0.19% 1.51% -3.97% 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* $1.0298 -4.87% -1.23% -2.58% -4.07% PHILAM DOLLAR BOND FUND, INC.* $2.171 -3.25% 0.93% 2.78% -3.55% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568726 -0.91% 0.94% 2.02% -0.57% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8944 -4.42% 0.78% 1.99% -3.93% MONEY MARKET FUNDS * - 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


Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Earnings from agricultural exports up 32.25%–report

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By Jasper Emmanuel Y. Arcalas

@jearcalas

EVENUES from the country’s agricultural exports expanded by 32.25 percent to P331.61 billion in 2017, from P250.75 billion recorded in the previous year, according to the Philippine Statistics Authority (PSA). In its latest report, the PSA said fresh bananas remained as the country’s top agriculture export product in 2017. “[Shipments] of fresh banana at 2.86 million metric tons [MT] generated earnings of P56.88 billion,” the PSA said. “Volume grew by 64.7 percent and value was up by 64 percent.” The PSA said earnings from banana exports accounted for 17.15 percent of the total farm export bill last year. Sugar was the second top agricultural commodity exported by the country in 2017 as it accounted for 3.09 percent of the total earnings, according to the PSA. The country’s sugar exports last year more than doubled to 440,733 MT, from 181,759.2 MT volume recorded in 2016. “Its exports value went up to P10.26 billion by 118.14 percent,” the PSA said. The country earned P4.702 billion from sugar exports in 2016. In the same report, the PSA disclosed that the country’s farm import bill in 2017 slightly declined to P592.83 billion, from P594.49 billion in 2016.

Rice was the top imported agricultural product by the country, as the staple accounted for 3.04 percent of the total import bill, according to the PSA. “R ice [impor ts] in 2017 at [890,000] metric tons increased by 45.74 percent. Its import value amounting to P18.03 billion was up by 36.14 percent,” it said. The country’s corn imports contracted by 41.05 percent to 475,244 MT, from 806,118.6 MT in 2016, according to the PSA. “Payment for corn imports at P6.51

billion declined by 35.41 percent and this comprised a reduced share of 1.10 percent in 2017,” it added. Other farm products imported by the Philippines last year were garlic, mongo beans, Virginia tobacco and onion. The PSA noted that the share of agricultural products to the country’s total export earnings continued to increase at 9.58 percent in 2017. “However, its contribution to the total import expenditures was going down and settled at 12.24 percent,” the PSA said.

BANANAS remained as the top agricultural export product of the Philippines in 2017, according to the Philippine Statistics Authority. ANINDITO MUKHERJEE/BLOOMBERG

PHL keen on partnering with Israel for scholarship program By Rea Cu

@ReaCuBM

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HE Philippines is looking into the possibility of partnering with Israel for a scholarship program that will expand advanced learning opportunities for personnel of the Department of Finance (DOF) in agricultural economics, economics and finance. Finance Secretar y Carlos G. Dominguez III has broached this proposal to Israel Ambassador to the Philippines Ephraim Ben Matityau, who expressed openness to expanding people-to-people exchanges between the Philippines and Israel

during a recent meeting. “I want to step up our scholarship program which we pay for to send our students abroad. So far, we have sent them to the US [United States], Australia and the UK [United Kingdom]. We also sent them to Japan and Korea. I want to expand. I want to look at an agri-economics program, at finance and economics for DOF personnel who can be sent to Israel,” Dominguez said. In turn, Matityau described Dominguez’s proposal as “very good,” pointing out that Israel’s high-technology financial system “is probably the most significant contribution we

can give in a manner of exchange and partnerships.” He said such people-to-people exchanges was already introduced by Israel in the Philippines’s private sector, with about 12 operators of start-up firms going to Israel to learn about the country’s financial technology system, with some of them returning to the Philippines to become mentors to other start-up companies. Israel also invites students of agriculture from Mindanao and other parts of the country to on-the-job training programs to learn about Israel’s advanced farming and production technologies.

Dominguez said Israel can send their treasury personnel here to train with the Philippines’s Bureau of the Treasury. Earlier, DOF personnel were invited to apply for the Knowledge Co-Creation Program (KCCP) of the Japan International Cooperation Agency, which offers master’s and doctorate degree scholarships in seven universities in Japan. The DOF was also among the beneficiaries of postgraduate studies programs under the Australia Awards Scholarships, and several scholarship grants from the US and the UK.

Farm aid falls short of trade-war pain, Land O’Lakes CEO says

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ARMERS in the United States are under “tremendous stress” as the trade war with China closes off a massive market for soybean and dairy products, adding further pain to industries beset by oversupply and low prices. That’s the view of Beth Ford, chief executive officer of Minnesotabased agriculture cooperative Land O’Lakes Inc.

Attending the Global Food Forum in New York this week, she said the Trump administration’s compensation package falls short of the losses being incurred by producers, many of whom can’t simply wait for tariffs to be lifted. “The bean farmers are going to get $3 billion but it doesn’t make up for the $6-[billion] or $7-billion loss that they’ve already seen,” Ford said, refer-

encing the $3.6 billion for soy farmers included in the short-term aid package the US Department of Agriculture (USDA) announced in August. Dairy farmers, who rely on significant exports to Mexico, are also left in a lurch, she said. “For dairy, we think it’s lost a couple billion dollars in value since they started this discussion,” she said. They are only receiving $127 million under the USDA plan. In addition to the cooperative’s marquee butter business, Land O’Lakes also includes animalfeed operations and seed and crop protection. In the dairy sector, she pointed to ongoing problems including the dollar strength and consolidation. While Ford appreciates the administration’s work on a new agreement with Mexico, it’s too early to say what the long-term impact will be given specifics aren’t known yet. She noted that Canada’s dairy trade

policies have created hardships for upper Midwest farmers. China represents a huge opportunity for dairy powders, but that market is effectively closed and prices have started to fall, she said. She called for the administration to “work with speed” to resolve trade issues. “Everybody realizes the production in the US is good, safe production,” she said. “My hope is that we don’t step away from the market and allow others into the market to take our place.” Bloomberg News

Editor: Jennifer A. Ng • Monday, October 1, 2018

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Group organizes agri summit to help govt ease high food prices By Joel P. Mapiles Correspondent

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ITH the seeming shortage on rice and other agricultural products, aggravated by the highest inflation in nine years, a multisectoral group is organizing a food summit in support of the government’s food program. According to Jerry Pelayo, former mayor of Candaba, Pampanga, and one of the lead convenors of the “Filipino Sama Ka Dito,” the summit is their group’s way of supporting the government as it strives to address the issue of rice shortage and rising prices of basic commodities. “This is not the time for criticizing or blaming one another. It won’t do us any good. This is the time to unite behind the government as it faces head on the scourge of rice shortage and rising prices,” said Pelayo, who was responsible for the radical Farm-Fresh 25 initiative, inside the Clark Economic Zone. Under the initiative, farm products are sold at 25 percent less than those offered outside of the Clark Economic Zone. Farm-Fresh 25, which has been in existence for 14 years, is managed not by traders but by farmers and poultry raisers. Aside from Pelayo, the other members of the group are former Agriculture Secretary William Dar and UP Chancellor Ray Velasco. Honorio Soriano Jr., president of Pampanga State Agricultural University, has opened the campus for the event slated tentatively for the third week of October. “The government, under President Rodrigo Duterte, has plenty of good managers and people at the helm, especially on the agriculture front, but they need the support of everyone and not the unnecessary criticisms from those with political interests out to exploit these problems,” Pelayo added. According to the former mayor, they are targeting the participation of all those who have a stake in agriculture and aquaculture, including those involved in deep sea and

fresh water fishing, piggery and poultry raising, vegetable farming, rice and cereal farming, traders and even academe, particularly the state agricultural colleges. “There have been summits like this conducted before but academe had never participated. We need them as we try to address the problems of the farmers and the fishermen,” said Pelayo. While the common problem for farmers are flooding and landslide, the more pressing ones are the availability of machineries and equipment and the lack of funds. Because of these, farmers tend to fall to loan sharks as some of them are prone to mortgage future harvests for extravagant fiesta celebrations and even to fund their vices like cockfighting. “We need to equip them with management skills,” he said. According to Pelayo, the agricultural sector had not been wanting in government support as presidents after presidents have been providing them with subsidies. “The problem is how were these funds are managed,” Pelayo said. He said that with the billions of pesos of subsidy poured into agriculture and the unique geographical position of the Philippines, the country should have been a major producer of agricultural products by now. “We are a tropical country blessed with the most suitable weather for agriculture as we only have summer and rainy season and no winter like some countries, and we could exploit these conditions to further enhance our agriculture,” he said. Pelayo suggested that the government consider the idea of increasing funds for purchasing palay and increase its buying price for palay to compete with private traders, starting with utilizing the barangays as buying stations. “The government needs to be competitive in buying palay from the farmers, as failure to do so would only result to the private traders controlling the rice trade,” he said.



EUROPE UP FRONT S

By Doug Ferguson The Associated Press

AINT-QUENTIN-EN-YVELINES, France—Francesco Molinari and Tommy Fleetwood walked down the fairway after delivering another big point in the Ryder Cup, side by side with their arms around each other’s shoulder. Here came “Moliwood” at Le Golf National, the latest Ryder Cup sensation and the first European tandem to win all four matches since the current format began in 1979. Even more satisfying was that three of those points came at the expense of Tiger Woods. But this was no time to celebrate. “We came here to do a job, and it wasn’t to go in the record books or anything like that,” Molinari said. And now they have to do it by themselves. Everything points to Europe taking back the precious gold trophy on Sunday, starting from a 10-6 lead that requires Europe to win only 4 1/2 points from the 12 singles matches on the final day. Woods hasn’t won any of his three matches. Phil Mickelson didn’t even play Saturday. Europe filled the board with its blue scores right from the start, winning three of the four matches in fourballs for an 8-4 lead, its largest after three sessions in 14 years. It held on in foursomes, with Henrik Stenson delivering clutch putts in the only match that was close. But the score should sound familiar, and it was enough to make them cautious. That’s the same deficit Europe faced in 2012 at Medinah when it produced the largest comeback on foreign soil. The Americans have never made up that much ground away from home, though they were the first to win after trailing 10-6, at Brookline in 1999 when they front-loaded the Sunday lineup with their biggest stars. And that was on the mind of Europe captain Thomas Bjorn, even as he was drowned out by thousands of fans using what was left of their voices to sing, “Ole, ole, ole, ole,” the European anthem for these matches that Americans have heard far too often. “We go ahead tomorrow and focus on what’s ahead and not what’s done,” Bjorn said. “We are so well aware of what’s standing across on the other side—the greatest players in the world.... I would never get ahead of myself in this. “History will show me and everybody on this team that it’s not over.” Even so, he couldn’t contain a smile. Europe brought five rookies to Le Golf National who sure didn’t seem like rookies—Alex Noren and Fleetwood were the last two French Open champions on the Albatross Course—and certainly didn’t play like that. His four captain’s picks have delivered six points, while the American picks have contributed one, by Tony Finau. “We’re really, really, really happy with how it’s gone these past two days,” Bjorn said. If not for Jordan Spieth and Justin Thomas, the Americans might really be in trouble. They pulled ahead in a tight fourballs match to beat Ian Poulter and Jon Rahm for the lone American point in the morning that prevented Europe from a second straight sweep of a

team session. They rallied from an early deficit against Poulter and Rory McIlroy in foursomes, with both delivering key shots and big putts. With four birdies over their last five holes, they won 4 and 3. Europe was up 10-4 until Bubba Watson and Webb Simpson won their match on the 16th, and Spieth and Thomas closed out their match right behind them. “They had a six-point lead, and now it’s four,” Spieth said. “So we are carrying that as a little bit of momentum, I guess. Early wins tomorrow go a long way.” Thomas leads off the singles against McIlroy. Woods is in the No. 4 spot against Jon Rahm, who has played two emotional matches without winning. Mickelson faces Molinari. “I don’t know if there is any one match more important than the other,” US captain Jim Furyk said. “You’ve got 12 of them out there, and we have to win eight points tomorrow to take the cup back home.... We’re trying to make some magic tomorrow.” Mickelson will have to shake off some rust. He hasn’t played since Friday in a foursomes loss that lasted only 14 holes. Furyk said he would shake up the order for Saturday afternoon foursomes, and that meant keeping Lefty on the bench. It was the second time in as many Ryder Cups in Europe that Mickelson, who holds the Ryder Cup record with 12 appearances, did not play on Saturday. Woods played twice, and at times it looked as though he was play ing by himself alongside Patrick Reed and Bryson DeChambeau. Reed went from “Captain America” to looking more like “Private Patrick,” taking himself out of holes in the fourballs session with too many shots into the gnarly rough, in the water and one out-of-bounds. That wasn’t enough to contend against Moliwood. The fourballs match was all square until Molinari ran off three straight birdies. The foursomes match was never close, as Fleetwood delivered big putts to win holes, each time turning to the crowd in a crouch, dropping both arms and pumping them wildly. They were 5 up at the turn over Woods and DeChambeau, and a brief rally only delayed the inevitable. Woods has failed to win seven consecutive matches, dating to his singles victory against Molinari in Wales in 2010. Woods, coming off an inspiring victory at the Tour Championship for his first title since his litany of back surgeries, has looked flat in the Paris suburbs. He hasn’t had much help, but he also missed key putts around the turn that allowed Europe to build a big lead. “Everything feels pretty good,” Woods said. “Just pretty [ticked] off, the fact that I lost three matches and didn’t feel like I played poorly. That’s the frustrating thing about match play. We ran against two guys that were both playing well.” The rest of the European team wasn’t too shabby either.

EUROPE’S Tommy Fleetwood (left) and Francesco Molinari walk away after a fourball match on the second day of the 42nd Ryder Cup on Saturday. AP

TIGER WOODS reacts after missing a putt on the eighth green. AP

Sports BusinessMirror

C1

| Monday, October 1, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

A TIRED, DEFEATED GOLFER S

AINT-QUENTIN-EN-YVELINES, France—Tiger Woods kept bending over in anguish, his shoulders sinking further and further, the energy ebbing as he made his way around Le Golf National for the second time on Saturday. It was the body language of a tired, defeated golfer. Quite a contrast to the previous weekend, when he triumphantly strutted down the final fairway at East Lake, savoring his first victory in more than five years as thousands of fans stormed the course behind him. Then again, this is the Ryder Cup— one of the few blemishes on Woods’s brilliant record. Nothing much has changed in France. Woods dropped all three of his matches over the first two days, cut down each time by Europe’s most dynamic combination, mulletsporting Tommy Fleetwood and British Open champion Francesco Molinari. Playing with two different partners, none of Woods’s matches reached the 18th hole. In fact, he’s only held the lead for a grand total of three holes the entire weekend. It was hardly what was expected from his first Ryder Cup appearance since 2012. “The three matches we played, they never missed a putt inside 10 to 12 feet,” Woods groaned. “That’s hard to do. Playing against a team like that, that’s putting that well, you’re going to have to make a lot of birdies. We didn’t.” Woods teamed with Patrick Reed for a pair of fourball matches, then switched to Bryson DeChambeau for the Saturday afternoon foursomes. The new partnership didn’t fare any better than the first one. The duo known as “Moliwood” led from the very first hole on the way to a 5-and-4 whipping, the match ending when DeChambeau missed a birdie putt at the par-5 14th hole, before it even reached a closing stretch that looks like something out of Waterworld. The struggles of Woods & Co. are a big reason his star-studded team faces a daunting 10-6 deficit heading to Sunday singles. While certainly not impossible to pull off such a comeback—it was done in 1999 by the Americans at Brookline, and again in 2012 by the Europeans at Medinah—the United States hasn’t won the Ryder Cup on this side of the Atlantic in a quarter-century.

“We’ve got some work to do,” Woods said. “Hopefully we can get off to a quick start and get up in some of these matches and turn the tide a little bit.” Looking to get his career back on track after myriad physical problems and personal missteps, the 42-year-old Woods played in 19 events this season—roughly the number he used to take on in his prime. While his comeback from major back surgery has been nothing short of remarkable, it looks like the grind of the year and all the work he put in to get back on the course caught up with him at the worst possible time. When you throw in the emotional drain of winning the Tour Championship for his 80th career triumph, Woods certainly looks like someone dealing with a severe letdown. “Early in the week, he looked a little tired. His pace looked a little bit slow walking,” US Captain Jim Furyk said. “I think that’s expected, coming off a big win. You have to think emotionally what he put into his comeback to this season, the amount of golf he played leading up this, trying to make the Ryder Cup Team, almost winning the FedEx Cup. I mean, he put a lot of work and effort into it and played a lot more golf than he’s used to.” Woods insisted that his body feels just fine. His mind-set is another issue. “Just pretty [ticked] off, the fact that I lost three matches and don’t feel like I played poorly,” he said. For whatever reason, the Ryder Cup has always been a struggle for Woods. The team nature of the event has never seemed to fit with his lone-wolf approach and steely focus. He’s played a total of 36 matches over eight appearances but won only 13. His record in fourballs and foursomes, when he goes out with a partner, is an ugly 9-19-1. And, frankly, it would be hard for anyone to knock off Fleetwood and Molinari, who have become the first European duo to win all four of their Ryder Cup matches. “That’s the frustrating thing about match play,” Woods said. “We can play well and nothing can happen. We ran up against two guys that were both playing well. And when one was out of the hole, especially in best-ball, the other one made birdie and vice versa. They did that a lot to us.” Injuries prevented Woods from playing in the last two American victories, in 2008 and 2016. He’s been part of only a single Ryder Cupwinning team over his career—19 long years ago at Brookline. One long drought ended a week ago. Another still looms over Woods, dragging him down. AP


Spo

Business

C2 Monday, October 1, 2018 By Ramon Rafael Bonilla

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NIVERSITY of the Philippines (UP) ended a three-game slide but it was an overachieving University of the East (UE) side that created the biggest noise on Sunday in Season 81 University Athletic Association of the Philippines Season 81 men’s basketball action at the Mall of Asia Arena in Pasay City. The Red Warriors, given up for lost early in the season, hunted down a fat prey, the Far Eastern University (FEU) Tamaraws, 90-65, for their first victory after five games. Earlier on Sunday, UP—a team with a better season forecast than UE—scored a huge 67-61 victory over De La Salle University to end its own drought. UE scoring machine Alvin Pasaol came off the bench but still produced big numbers of 25 points, 13 rebounds and five steals for the Red Warriors, who, for the first time this season, played with a sense of urgency and the desire to win. Jason Varilla sizzled with five three-pointer for 17 points and Philip Manalang clicked with 13 points and 12 assists for the Red Warriors. Playing like the fabled UE of yore, this season’s Red Warriors were impeccable and mounted a game-high 34-point lead in the fourth quarter to cruise to an easy blowout victory. UE was steady throughout and committed only 10 errors while forcing FEU to 17. Hubert Cani and Arvin Tolentino tallied 12

WARRIORS TRIUMPH and 11 points, respectively, for the Tawaraws, who dropped to a 2-2 won-lost card. The Fighting Maroons leaned on Nigerian big man Bright Akhuetie and Juan Gomez de Llano as the duo conspired for a big fourth-quarter attack then put up a gallant stand against a major Green Archers comeback at crunch time. “We all know that our endgame...it’s not much to be desired. But then again, we can’t forget the fact that we won it,” UP Head Coach Bo Perasol said. Akhuetie finished with monstrous numbers of 19 points and 19 rebounds, while de Llano contributed 17 points, three rebounds and six assists for the Katipunanbased squad, which improved to a two-win and three-loss card. The tandem engineered a 10-2 run for a 61-47 UP lead in the 5:48 mark of the final quarter. From there, Aljun Melecio and Justine Baltazar commandeered an 11-0 assault

Bulldogs, Maroons win

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EFENDING champion National University (NU) and University of the Philippines (UP) logged two victories to stay undefeated in University Athletic Association of the Philippines Season 81 badminton action over the weekend at the Rizal Memorial Badminton Hall. The “five-peat-seeking” Bulldogs edged hard-fighting Adamson University, 3-2, on Sunday to follow up on their 4-1 conquest of De La Salle on Saturday to extend their unbeaten run to 38 ties. The Fighting Maroons defeated University of Santo Tomas (UST), 3-2, on Saturday and made quick work of University of the East (UE), 5-0, to also complete a weekend sweep. NU and UP now sport identical 3-0 records. The protagonists in last season’s Finals collide for the solo lead at 8 a.m. on Tuesday in the same Malate venue. Ateneo seized solo third with a 2-1 card after a narrow 3-2 victory over De La Salle.

In their tie with the Falcons, the Bulldogs were poised for a shutout after taking the first three matches courtesy of former Most Valuable Player Ross Lee Pedrosa and Mike Minuluan in singles, and last season’s MVP Alvin Morada and Alem Palmares in the first doubles. Vastly improved Adamson University was able to pull off a reversal against NU in the last two matches with Marf Eden Concha winning his singles and doubles with Johnrick Macabenta. The Falcons and Green Shuttlers now have 2-2 cards in joint fourth, while the Growling Tigers and the Red Warriors fell to 0-3 and 0-4 slates, respectively. In the women’s matches also on Saturday, UP outlasted NU, 3-2, to join Ateneo on top at 2-0. Titleholder De La Salle moved to solo third following a dominant 5-0 victory over Adamson University, while UST entered the win column following a 5-0 romp of UE.

to make it 60-61, with two minutes and 24 seconds to play. De Llano, showing that UP could get the job done, answered with four straight points to tuck the game for the Fighting Maroons for good. The Fighting Maroons were coming off a painful 68-69 loss to the Adamson University Soaring Falcons last week. The squad could have taken the match, but Sean Manganti hit an off-balanced shot from a broken play to snatch the victory. Perasol said the victory boosted his team’s morale. “The first thing that’s going to be taken away from you when you lose successively is the confidence. That is something that is very difficult to get back and the only way to get back is to win,” he said. “I’m just relieved right now. I hope we can get into the winning groove in our next game.” Justin Baltazar led De La Salle with his 13 points and 10 rebounds, while Melecio and Leonard Santillan added 12 points apiece for the Green Archers who slipped to 2-2. MEMBERS of the University of Perpetual Help team pose with National Collegiate Athletic Association President Anthony Tamayo (third from right), Management Committee Chairman Frank Gusi (second from right) and tournament head Melchor Divina (right) after winning a historic first NCAA juniors chess championship over the weekend at the Malayan School of Science Building in Manila.

THE Ateneo Lady Eagles get a corporate partner in Motolite.

MOTOLITE CHARGES ATENEO LADY EAGLES

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OTOLITE is charging up the Ateneo Lady Eagles’ volleyball campaign in the Premier Volleyball League (PVL) Open Conference, giving the high-profile women’s volleyball program a new corporate partner as it prepares for the upcoming collegiate wars. The Lady Eagles face the tough task of regaining the University Athletic Association of the Philippines crown and, with the UAAP Season 81 tournament still months away, the team has chosen to compete against more seasoned clubs in the PVL Open. With a veteran-laden roster built around middle hitters Bea de Leon and Maddie Madayag, opposite hitter Kat Tolentino and

outside hitter Kim Gequillana returning for her final season, the Motolite-Ateneo team is more than optimistic in pulling major surprises in the UAAP. A collegiate volleyball crowd favorite, the Motolite-Ateneo team also features new recruits Jaja Maraguinot (sister of former star Jho Maraguinot) and middle blocker/open spiker Vanessa Gandler from De La SalleZobel. Expected to make significant contributions are holdovers Ponggay Gaston, Dani Ravena, Jules Samonte and Deanna Wong. Former Ateneo men’s team coach, multititled Oliver Almadro, now handles the team.

Motolite has become a new and solid supporter of the ever-growing sport of women’s volleyball. And the partnership between the nation’s market leader for automotive batteries and one of the country’s renowned women’s volleyball teams looked a perfect match coming at the right time. Motolite’s long-time role in sports development comes as no surprise—it has been a staunch supporter of motorsports, billiards, basketball and boxing. When Manny Pacquiao was just a fledgling young boxer out of General Santos City, Motolite was already behind the now many-time world champion’s campaign.

Paba training camp up at Rizal

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HE Philippine Amateur Baseball Association (Paba) will hold a training camp for its national men and women’s team on October 13 and 14 from 7 a.m. to 1 noon at the Rizal Memorial Baseball Stadium in Manila. It will be a busy 2019 for Paba as baseball returns to the Southeast Asian Games in the event’s 30th edition the country is hosting in November and December. Players aged 18 and above are required to bring photocopies of their birth certificate and passport, as well as two 2x2 photos to register. The training camp for the men’s team will be held on while the first women’s camp will be on Sunday. For more information, e-mail Paba Communications Head Maya Montecillo through maya.montecillo@philippinebaseball.org.

JR. ALTAS BAG 1ST N.C.A.A. CHESS TITLE

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NIVERSITY of Perpetual Help defeated Lyceum of the Philippines University, 3-1, in the finals to clinch a historic first juniors’ championship in the 94th National Collegiate Athletic Association (NCAA) chess competition at the Malayan High School of Science Lobby in Otis, Manila, over the weekend. Carl Zirex Sato and Chris Pondoyo downed Jan Darryl Batula and Leonel Escote on boards two and three, respectively, while Eric Labog Jr. and John Anastacio drew with Earl Rhay Mantilla and Japeth Aaron Caresosa on boards one and four, respectively, to claim their first crown. The Junior Altas finished runners-up to the Letran Squires last season and the Las Piñas-based players, coached by World Chess

Federation Master Roel Abelgas, made sure the title will not slip from their grips this time. NCAA and Perpetual Help President Anthony Tamayo and NCAA Management Committee Chairman Frank Gusi witnessed the league history title-clinching victory. “We dedicate this victory to our school officials, sirs Antonio and Anthony Tamayo, the school, community and all the people who kept the faith,” said Abelgas, who later revealed this will be his last season to coach Perpetual Help. Pondoyo also won the board three gold medal and Most Valuable Player trophy, Anastacio took gold on board four and Abelgas was adjudged coach of the year. Perpetual Help’s seniors’ team finished fifth in the event ruled by College of Saint Benilde, which beat Lyceum in the finals.

A taste of blue mayhem RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW ON May 29, 2016, Aldin Ayo’s De La Salle University (DLSU) team featuring Ben Mbala clobbered Ateneo in the Filoil Flying V Premier Cup, 98-66. Mbala, in his first Ateneo-La Salle game, finished with 28 points, 16 rebounds and three blocks. Ayo (in)famously said after the game as DLSU went to 5-0 that they were not sending a message but working on their team chemistry. That was incidentally Tab Baldwin’s first Ateneo-La Salle game. Baldwin had his revenge last year when he upended Ayo, Mbala and DLSU for the title. And now, with a pretty damn good big man of his own, the Ateneo Blue Eagles blew out Ayo’s University of Santo Tomas (UST) Growling Tigers, 85-53. Also a 32-point blowout and a taste of blue mayhem.Tit for tat. That Ateneo big man? Angelo Kouame finished with 20 points, 15 rebounds, four blocks and one assist. In under 20 minutes of play. Imagine if he played more minutes what kind of stats he would have posted. In that preseason match of three seasons ago, Ateneo shot a measly 39 percent. This time, the tables were

turned as UST shot 26 percent. Ateneo outrebounded UST, 50-41, and scored 29 second chance points to the Growling Tigers’ 17. The Blue Eagles blocked 10 shots to UST’s two. The defense was outstanding. For the first time since the preseason of 2017, Ateneo sprung a press. The switching was so good that UST had few open looks. The Tigers only hit five triples, but they were scattered, and their effect wasn’t felt. The Blue Eagles also held the dangerous Ken Zamora and the up-and-coming Joshua Marcos scoreless, and the team’s third leading scorer in Marvin Lee nine points below his average. The 18 points scored by UST in the first half are a season low for any team. The eight points scored by the Growling Tigers in the second period are a season low (Ateneo also held NU [National University] to eight points in one quarter). The previous season low for UST was nine points...against NU (the third period). Those same 18 points are the lowest output of any UST team for a half in a while. UST showed their hand right off the bat to attack Ateneo, and

SHARPSHOOTER

Lt. JG Marly Martir of the Philippine Navy rules the Lady Classic Division and Lady Shoot Off of the recent 2018 Far East Asia International Practical Shooting Federation Handgun Challenge in Pattaya, Thailand. Martir and the other members of the Philippine team will be recognized by the Association of Firearms and Ammunition Dealers of the Philippines Inc. during the opening of the five-day 26th Defense and Sporting Arms Show Part 2 at the SM Megamall in Mandaluyong City on November 15.

they got some quick points inside. But when Ateneo spread UST’s defense after some early outside shots by Matt Nieto and Thirdy Ravena posting up his man, the Tigers were easy pickings. What I liked was also how Tab Baldwin rotated his bench. Can you believe that Will Navarro was the only one who played 20 minutes? A shade over actually. Only BJ Andrade and Jolo Mendoza played fewer than 10 minutes. But Jolo went out because Marvin Lee tried to take him out. As a result, he was the only Blue Eagle not to be listed in the scoring ledger. With Raffy Verano unavailable (he will be ready for the next game), I like Navarro starting and Matt Daves getting meaningful playing time that will really help his confidence. That dunk of his? That wasn’t his best by a long shot having covered and followed him while playing for Crossover Canada in the NBTC League for three seasons. Trust me. When he gains more confidence, those rack attacks will be filled with menace. And speaking of confidence, Kouame’s game has grown with every game and he has been nothing short of amazing. But in terms of a breakout game, it was SJ Belangel’s turn (seven points, two rebounds, one assist and one block) as he began to show the stuff he displayed with the Blue Eaglets. And it was great to see Tyler Tio play better and with more confidence. His buzzer-beating shot to end the first half was exhilarating. Adrian Wong struggled once more with his decisionmaking (he dribbled a bit too much, and by the time he decided to move, the shot clock was perilously close to a violation). He did redeem himself with a huge triple to snuff out any notions of a rally by UST. For the blue and white, it was a huge and satisfying win (given the rivalry with Ayo) that propels them to the next outing...against La Salle.


orts

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Monday, October 1, 2018

PHL BETS VIE IN TLPGA F

MIA PICCIO and Princess Superal (right) will lead the Filipinas’ charge.

IVE of the country’s top pros brace for three days of grueling battle of shotmaking against the best of Taiwan Ladies Professional Golf Association (TLPGA) Tour and a host of aces from Thailand, Japan, Korea, Malaysia and Singapore in the Party Golfer Ladies Open firing off on Wednesday at the National Golf Country Club in Miaoli County in Taiwan. With the top 6 players in the current Taiwan LPGA Tour ranking and a slew of Thai aces bannering the elite international cast, Mia Piccio, Princess Superal, Cyna Rodriguez, Daniella Uy and Marvin Monsalve will have their work cut out for them in the $100,000 event co-sanctioned by the TLPGA and the Ladies Philippine Golf Tour (LPGT). “It’s going to be tough but we’ll do our very best,” said Superal, the current Order of Merit (OOM) leader on the LPGT. Piccio is actually taking time out from her Symetra Tour campaign to join Superal and former three-time LPGT OOM winner Rodriguez in the 54-hole tournament that marks the first time that the local circuit will be co-staging a tournament abroad as part of Pilipinas Golf Tournaments Inc.’s (PGTI) effort to advance the growth of local ladies pro golf. “Our local pros have been competing with the TLPGA ladies through the TLPGAsanctioned LPGT tournaments that we’ve

been holding twice each year the last three seasons. This time I am hoping our ladies will do well outside the Philippines,” PGTI General Manager Colo Ventosa said. But Piccio, Superal and company face a set of rivals so deep in talent, headed by current TLPGA OOM leader Yu-Ju Chen, No. 2, Hsin Lee, third-ranked Szu-Han Chen, No. 4 Min-Jou Chen, fifth-ranked Yi-Chen Lio and No. 6 China Huang. Add the likes of LPGT winners Renuka Suksukont, Saranporn Langkulgasettrin, Wannasiri Sirisampant, Saruttaya Ngamusawan, Ploychompoo Wilairungrueng, Onkanok Soisuwan and Yupaporn Kawinpakorn of Thailand, Malaysian Dianne Luke, Korean Jin-hee Park, Japan’s Ai Asano

Olaivar, 33 others make men’s finals

F and Ayaka Nakayama and Sock-ee Koh of Singapore, the Filipinas are indeed in for a tough, rough challenge in the upcoming blueribbon event. Pauline del Rosario, the reigning LPGT OOM champion and the first Filipina to win on the TLPGA Tour in the TLPGA and Royal Open crown last year, will miss next week’s event to play in the US as part of her preparations for the Qualifying School. Still, Ventosa is confident the five Pinays will play to their true potentials and figure prominently in the chase for top honors in the event. The TLPGA and LPGT will also share the prize money when they co-stage the International Container Terminal Services Inc. Ladies Philippine Masters in February.

FILIPINAS TAKE ON SPAIN

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HE Philippine women’s team seeks to sustain its impressive showing as it clashes with 15th seed Spain on Monday night in the sixth round of the 43rd World Chess Olympiad in Batumi, Georgia. The Filipinas pulled off a shock 2-2 draw with 25th seed England in the fifth round that positioned them in a

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10-country tie at 23rd place with seven match points, or just three points behind solo leader United States, which remained unbeaten with 10 points. Grandmaster Jayson Gonzales, the women’s squad’s coach, said they will field in WGM Janelle Mae Frayna, Woman FIDE Master Shania Mae Mendoza and Woman

ORMER Philippine titlist Nicco Olaivar shot a 12-game series of 2528 pinfalls to pace 33 other male keglers into the second round of the 2018 Bowling World Cup (BWC) national finals late Saturday at Coronado Lanes (Starlanes). Tied with veteran RJ Bautista on top of the 80-man field after 11 games, Olaivar closed out with a 193-game to emerge leader as Bautista slumped to a low 148 game to finish 45 pins behind with 2483. Merwin Tan carded 2465, followed by Kenneth Chua (2408) and little-known Maurhic Padawan (2402) to take the next three positions in the event, where the champion will earn the right to represent the Philippines in the 54th BWC international finals set from November 4 to 11 in Sam’s Town Center in Las Vegas, Nevada. The 29 other bowlers who remained in the race for the national BWC crown and the trip to Las Vegas were: Raoul Miranda, who tallied 2375; Anton Alcazaren (2268), Kevin Cu (2267), Eric Aranez (2263), MJ San Jose (2259), Jeff Carabeo (2252), Paul Sia (2221), Wilson Sua (2184), Scott Uy (2168), Paul Eluna (2164), Marc Matias (2144), Kayle Abad (2140), Simple

Villajin (2121), Don Evangelista (2116), Carl Lim (2115), Federico Rivera (2111), Angel Dilig (2103), Ceasar Perez (2103), Erwin Cabaneros (2076), Ted Convocar (2061), Ren Cremen (2058), Nichole Andrew Jimeno (2057), Don Tungala (2052), July Vargas (2051), Joebert Buenafe (2043), Ramel Franciso (2032), Kevin Atienza (2003), Rene Boy Aranico (2002) and Toti Daval Santos (2000). With their scores carried over, Olaivar and company will play another 12 games tomorrow at Superbowl to determine the top 8 who will compete on the last day of the national finals on Friday, October 5, at Paeng’s Eastwood Bowl. Multi-titled Liza del Rosario and Mades Arles led 42 others who opened their bids for the women’s plum on Sunday at the Coronado Lanes. The top 34 finishers after 10 games will compete anew on Wednesday at Superbowl for the vital third-day action. The ladies’ champion will also carry the Philippine colors in the Las Vegas international event. Last year’s WBC international women’s titlist Krizziah Tabora of the Philippines was not able to join the national tournament because she’s on medical leave.

International Masters Antoinette San Diego and Bernadette Galas against the Spaniards. WIM Catherine Secopito takes a rest after absorbing two straight defeats. “We’re hoping and praying to have a good result against Spain,” said Gonzales, whose trip in this biennial, 11-round tournament is bankrolled by the Philippine Sports Commission. Frayna and Mendoza have been the highest scorer for the Pinay chessers so far with 3.5 points out of five games apiece

while Galas, San Diego and Secopito had two points each. Gonzales’s ploy of playing Galas with the white pieces and San Diego with black has been drawing good results, with the former staying perfect in two games and the latter getting two points out of three games. Meanwhile, the men’s team, which skidded at a group at 101st place with four points following a loss to Lebanon, aims to end an alarming three-match slump as it clashes with lowly Jersey.


FOR the record, how Carmelo Anthony feels now is happy and invigorated about his fresh start in Houston. AP

To start or not to start at Houston

DUTCH DELIGHT

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AKE CHARLES, Louisiana— Through the first week of camp with the Houston Rockets, all indications are that Carmelo Anthony will be OK coming off the bench if that’s the role Coach Mike D’Antoni gives him. That doesn’t mean the 10-time All-Star wants to discuss it. “I don’t like talking about it,” Anthony said on Saturday before the team’s last practice at McNeese State before returning to Houston. “People always been speculating. They always speculate so I will continue not to talk about it.” While Anthony, who is in his first year with the Rockets after one tumultuous season in Oklahoma City, refused to discuss whether he’ll start or be a reserve, he had plenty to say about a variety of other subjects, candidly answering every other question thrown his way. He reflected on his year with the Thunder, a place where he never seemed to fit in and averaged a career-low 16.2 points in 78 starts. He said he got “caught up” in outside opinions of what people believed he should do and recounted all the thoughts that were swimming through his head last season. “[People saying] Oh, he’s a stretch 4,” Anthony said. “Oh, he should come off the bench. Oh, he should not shoot this many times. Oh, he should just let Russ [Westbrook] do this. So, it was just so much of that, that was...going around that I had to block it out and get away from it and not even think about it.” But even after he figured out how to do that, he still had to handle all of those who professed to know things about him when they had no clue what was really happening. “I don’t really care about somebody telling me how I think,” he said. “A lot of people that’s talking about me or has an opinion don’t really know who I am. Never talked to me before. Don’t know how I think. So, it’s funny to me to just hear a quote from somebody else saying: ‘He feels like this or he feels like that. And he should do this, or he should do that. Or he even said this or said that.’” For the record, how Anthony feels now is happy and invigorated about his fresh start in Houston. Entering his 16th National Basketball Association season, he’s is looking forward to helping the Rockets contend for a title after they fell to the Warriors in the Western Conference finals last season. He hopes all the extra things he dealt with in Oklahoma City are behind him and that he can get back to basics and find joy in basketball again. “Just enjoy the game and play basketball...I’ve been

Sports BusinessMirror

I doing it for a long time,” he said. “I still know how to do it. I’ve just got to make it fun. The game just has to be fun.” Early on, he’s found that with the Rockets, where he’s been welcomed from Day 1. The transition has been eased by how eager stars like James Harden and Chris Paul have been to integrate him into what they’re doing. “They already envision me being on this team and what I can do and my role on this team,” Anthony said. “So, it was easier for them to just bring me along and say, ‘This is where you should be, this is what you have to do,’ and that made my transition a lot easier.” D’Antoni said Anthony is in great shape and the coach is eager to see how he’ll mesh with his team when the Rockets open their exhibition schedule on Tuesday against Memphis. “He’s a great basketball player, so we just try to make it optimal for him and us,” D’Antoni said. “It’s always a little bit of a challenge, but if you had asked me the same question [last year] about James and Chris I would have said the same thing: ‘Well, it looks good. I’m excited.’ So same thing with him.” “We’ll just have to wait and see with more proof down the road,” D’Antoni continued. “But yeah, it looks good.” AP

THE Netherlands’s Anna van der Breggen wins the women’s road race world title after riding solo for 40 kilometers. AP

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| Monday, October 1, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NNSBRUCK, Austria—Anna van der Breggen used a majestic solo ride to give the Netherlands a sweep of the women’s elite world road cycling titles for a second straight year on Saturday. When the highly favored Dutch team had no one left in the leading group for the final 50 kilometers of the road race, the Olympic champion stepped up to the challenge. Van der Breggen jumped out of the peloton and quickly overtook the five riders in front. Amanda Spratt briefly followed, but the Australian rider had to let go when the Dutchwoman accelerated on one of the steep climbs of the 156-kilometer race from Kufstein to Innsbruck in the Austrian Alps. Van der Breggen continued the last 40 kilometers on an unmatched pace to land her first world title, winning the race by the largest margin in nearly three decades. “I didn’t know the time. I didn’t know anything. So I kept going until the finish line. Only on the finish line I believed it was possible. It’s amazing,” she said. “I was a bit doubting if it was too early or not. But I took this opportunity and I had to go.” Van der Breggen led Spratt by three minutes and 42 seconds, the biggest winning margin in the event since French standout Jeannie Longo won the 1989 title by more than four minutes. Italian rider Tatiana Guderzo, the 2009 world champion, was 5:26 behind and took bronze. Van der Breggen became the fifth female rider to combine the Olympic and world titles in the road race, after Longo, Britain’s Nicole

Cooke and fellow Dutch riders Leontien van Moorsel and Marianne Vos completed the feat. Van der Breggen’s win came four days after Dutch teammate Annemiek van Vleuten beat her to the time trial title. The Netherlands also won both women’s titles at the worlds in Bergen, Norway, last year, with Chantal Blaak and Van Vleuten taking the gold medals. “The world championships are always [a goal of mine], and I know it is so difficult to win it so I am really happy with this title,” said Van der Breggen, who earned her first world title after four silvers in individual events, and two silvers and a bronze in team time trials. Prerace favorite Van Vleuten was among a large group of riders who crashed going into a road island with 94 kilometers left. Teammate Ellen van Dijk helped Van Vleuten to connect with the peloton again, but the time trial champion failed to have an impact on the race afterward and finished seven minutes behind Van der Breggen. The victory was redemption for Van der Breggen, who missed out on a possible European title due to odd team tactics in August. In Glasgow, Van der Breggen lost a promising position in a leading group when Dutch riders in the peloton started to chase them, with Italian rider Marta Bastianelli ultimately winning. “I had too many times this season already that it happened on the finish line that I [was overtaken],” she said. “So I just kept on continuing and tried to eat and drink good, and go as fast as possible.” The world championships conclude with the men’s road race on Sunday. AP

U.S. VS. AUSTRALIA IN WORLDS S

THE United States’s Brittney Griner tries to shake off a Belgian defender. AP

Aussies play fluid, dominant ball in World Cup semifinals

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AN CRISTOBAL DE LA LAGUNA, Spain— Australia Coach Sandy Brondello credits a training camp in February and playing in the Commonwealth Games at home as a major reason that her team has looked so fluid in its run to the semifinals of the Fiba Women’s Basketball World Cup. “This year we had a 10-day camp in February with the whole group and that helped us,” Brondello said. “They are in our system a little bit. I’m a new coach taking over and haven’t spent too much time with them because of the Women’s National Basketball Association [WNBA], yet they have all bought in and for the most part we have a very unselfish team. It also helps having one of the most dominant players in the world on the team in Liz Cambage. “She definitely makes it easier as well,” Brondello said smiling. Cambage is averaging a tournament best 25.8 points a game while only playing 20.4 minutes. “The Commonwealth Games got us started and set the tone for the year,” Cambage said. “We got a few practice games under our belt, that’s what helped us come together as a team.” Australia had to overcome a little bit of adversity before the tournament started

when it lost both of its expected point guards to plantar fasciitis injuries. “I got shooting guards playing point guards and they are doing a good job,” Brondello said. With five WNBA players on the roster, including Cambage and the injuries to the point guards, Brondello didn’t have her full squad together until right before the World Cup started, as Sami Whitcomb was helping the Seattle Storm win a WNBA championship. After training in Turkey, a tight scrimmage with the US just before the Worlds began helped build some confidence. That has carried over. The Australians have been the most dominant team in the tournament, more so than the rival US, winning by an average of 31.5 points. The Opals have been playing tremendous defense. “That’s something we pride ourselves on as Australians is being tough defenders,” Australian guard Rebecca Allen said. “It’s one of those Australia trademarks, so it’s not something we had to worry about to bring in.” Next up for the Australians is the host nation Spain. Australia will try and reach the gold medal game for the first time since 2006 when the country won its lone championship. AP

AN CRISTOBAL DE LA LAGUNA, Spain—Just as it has done for most of the tournament, the US used a big third quarter keyed by Diana Taurasi and Breanna Stewart to pull away from an opponent. This time, it was Belgium, whose one-point halftime deficit turned into 16 by the end of the third period. Taurasi finished with 26 points, including hitting five three-pointers, to help the US win, 93-77, on Saturday in the semifinals of the Fiba Women’s Basketball World Cup. “We got some stops, they are a really good team. They’ve been playing together for a long time, you can tell,” Taurasi said of the third quarter in which the US outscored Belgium, 33-18. “We got a couple more stops, we made a couple more plays on offense, wore them down a little bit.” Breanna Stewart added 20 points, while Brittney Griner had 16 for the Americans, who will be going for a third straight gold medal at the worlds—something the country has never done. “That’s what we’re here for,” said Elena Delle Donne, who is on her first World Cup team. The US has won 21 consecutive World Cup games and will play Australia for the title on Sunday. The US has won all 17 meetings between the teams, including a 10-0 mark in the World Cup. Belgium, making its first appearance in the World Cup, was led by Emma Meesseman’s 23 points. The Belgians already had surpassed their goal of reaching the quarterfinals. A bronze medal would be an excellent achievement. “I don’t know who is going to play us,” Meesseman said. “I know we’re going to give all we have left.” Belgium hung around for 25 minutes thanks to Meesseman and solid outside shooting. The score was 52-52 midway through the third quarter before the US closed the period with a 21-5 run. Griner, Stewart and Jewell Loyd keyed the spurt. Belgium came no closer than 14 the rest of the way. Meesseman got her team going early, scoring 13 points in the opening quarter as Belgium shot 56 percent to lead 26-21 after one quarter. The US rallied behind Taurasi and Elena Delle Donne, who had seven points in the second quarter to give the Americans a 40-39 halftime lead. Sue Bird is now one assist shy of matching Dawn Staley’s career mark of 103 for USA Basketball at the World Cup. She had seven against Belgium to match her bestever in the Worlds. Staley, when hearing that Bird was one assist away, joked that “she’s not playing.” Bird was honored to have a shot at her coach’s mark. “I think anytime you can break a record, it’s one of those things later, when it’s all said and done, you have a true appreciation. This one is a little different when it is someone like Dawn who’s holding it.” AP


Life

Thank You Lord

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HANK You, Lord, for remaining steadfast. Nothing else in my life is as sure as You. I am grateful that You will never leave me regardless of what I do. But I will always remain faithful to You in my words, thoughts and actions. I will always remember that You died for my sins. I love You, Lord, forever more. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

PHOTOGRAPHED BY JEAN-CHRISTOPHE ORLY

AND THEN SOME: THE ONLY TWO MAKEUP PRODUCTS THAT YOU NEED D4

Monday, October 1, 2018

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The man in Julius Tarog’s mind TOTA PULCHRA MISS CHARLIZE

@misscharlize

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E know about Filipino fashion design making inroads in Europe, the United States and the Middle East. What’s lesser known—and underserved—is the Indochine corner growing more enamored of Filipino creativity. In mid-September a group of Pinoy designers showcased their work at the Lao Fashion Week (LFW) in Vientiane, the style center and capital of Lao PDR and neighbors Myanmar and Cambodia. Albert Andrada led a contingent composed of Renan Jay Pacson, Ched Studio (Ched Dalogaog and Marjo Cruz), Bryan Peralta, Kristine Ordinaryo and Julius Tarog; and Phnom Penh-based Reynier Abello and

ATOM ARAULLO

PIA WURTZBACH

Don Protasio. Incidentally, I’ve known Tarog since before he was a designer and has, thus, followed his career trajectory. When we met in the late-1990s, he was then an interior-design student who also worked with fashion director Ogee Atos, who exposed and educated him to the inner workings of the trade. “My mom used to go to her modista and she would bring me along. I will browse the catalog and would pick what I think looks best for her,” Tarog says, recalling what sparked his interest in fashion. “After studying at the Fashion Institute of the Philippines and with the Paris-trained Jojie Lloren on short courses in pattern making, I had the confidence in pursuing my childhood dream.” Besides being a designer, Tarog is also the resident stylist at the GMA Network, handling shows such as The Clash, Bubble Gang, Daig Kayo ng Lola Ko, Lip Sync Battle Philippines, All Star Videoke, Party Pilipinas, Sunday All Stars, Superstar Duets, ’Yan Ang Morning, Full House Tonight and Kusina Master. He styles celebrities for TV like Regine VelazquezAlcasid, Solenn Heusaff, Jaya, Ogie Alcasid, Mariel Rodriguez, Gabbi Garcia, Sanya Lopez and Rhian Ramos. For Lao Fashion Week, however, Tarog wanted to strengthen his menswear aesthetic, so he showed

SAM LEE

a 15-piece collection using Japanese cotton, English wool and French cashmere inspired by the 1987 Sting classic song, “Englishman in New York.” “The man is a traveler. He visited a tropical country and went to New York during the autumn season and brought souvenirs like the banig bags made of buri leaves and just roamed freely in the city,” Tarog explaines. “The accessories I used are custom-made by Lara, a bag maker in Western Samar. I used tote bags, belt bags and a sling bag that are practical for a traveler.” Tarog previously participated in a show in New York showing a collection made of natural woven fabric from Abra province. This caught the attention of Pany Saignavongs, the founder and CEO of LFW who also heads the Ministry Of Silk, which has a strong advocacy in using her country’s indigenous materials such as the Lao Silk. “Showing your pieces in a foreign land brings Pinoy pride because the collection you’re showing will give our neighbors an idea of what the fashion trends are in our country,” Tarog says. “There may not be a strong Pinoy fashion following in Laos yet,

LEEROY NEW

Global brand puts spotlight on local heroes THE Philippines’s first Uniqlo global flagship store is set to open in Manila on October 5. As part of its communication campaign, called “Our Future Is Here,” the Japanese global apparel retailer introduces its Future Heroes—10 local game changers and innovators who help move Manila forward. A celebration of Manila’s flourishing and forwardthinking culture, the Our Future Is Here campaign draws a parallel between Uniqlo products, its brand values and the character of Manila. It is a city that is full of life, diverse and always moving forward— characteristics that align perfectly to Uniqlo and its LifeWear. Through the social-media nominations that ran from June to July, Uniqlo identified and collaborated with some of Manila’s most promising individuals and groups from a range of industries and backgrounds. Marking the brand’s commitment to individuality and self-expression, the list features 10 innovators and disruptors who are reinventing their industries and driving change around Manila. n SAM LEE. Film director, multimedia editor for

CNN Philippines Life, and a passionate advocate for women’s and LGBTQ+ rights. n LEEROY NEW. Contemporary artist and designer with a passion for creative collaborations tied to social and urban development. n CECILE DOMINGUEZ-YUJUICO. Entrepreneur and NGO worker at Teach for the Philippines, who is passionate about maximizing the use of technology for social good. n KING PUENTESPINA (CRWN). Music producer whose passion for innovative music helps push the local music scene forward. n AYA FERNANDEZ. Student, dancer and social entrepreneur whose passion led her to start Project Lily PH, which aims to provide livelihood opportunities for persons with disabilities. n JOLO MARCELO. Free runner, parkour athlete and freelance videographer whose passion for movement has pushed him to explore Manila from a different view. n ELOIZA FAGSAO. Student and captain of the University of the Philippines’s Women’s Football

team with a passion to share her leadership skills to her peers. n ARTS SERRANO. Architect, and Escolta advocate and resident who is passionate about bringing to life stories through the spaces he builds. n TOYO EATERY. A contemporary Filipino restaurant led by chef Jordy Navarra whose passion for food has led him and his team to champion local cuisine and transform everyday dishes into fine dining experiences. n THE ESCOLTA BLOCK. Composed of artists and entrepreneurs (Vince Africa, Reymart Cerin, Carmel Laurino, Mikki del Rea and Aliver Cedillo), the Escolta Block breathes new life into Manila’s historic streets by showcasing contemporary Filipino culture through music, art and food. As part of the campaign, a series of digital and graphic pieces have been created together with the chosen personalities alongside influencers Pia Wurtzbach and Atom Araullo. The campaign video can be viewed at bit. ly/2D05hEq.

but there’s a very strong respect with regard to the collections we presented.” Women, admittedly, are the bulk buyers in the fashion market. Even in store space and collection selections, they have more and better choices than men. It doesn’t faze the talented Tarog, though, as he wishes to dress up Ryan Reynolds, Tom Cruise, Gong Yoo and Song Joong-ki someday. More realistically, local celebrities Dennis Trillo, Joshua Garcia, Daniel Padilla and Richard Gomez are likely to be seen in Tarog’s brand of dapper, dashing menswear. “Filipino men in general are t-shirt wearers because of our tropical weather,” Tarog asserts. “But what I’m doing now is giving them options in cut, color and fit that still work for the weather and the Filipino lifestyle.” n


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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Brie Larson, 29; Zach Galifianakis, 49; Esai Morales, 56; Julie Andrews, 83. HAPPY BIRTHDAY: Learn from experience. Gravitate toward people and places that make you feel comfortable and capable of reaching your goals. Engage in exercises that will help you grow stronger personally, physically and emotionally. Interact with people who can help bring about positive change, not those trying to coerce you into doing things that aren’t beneficial or good for you. Your lucky numbers are 8, 12, 22, 27, 39, 45, 48.

a

ARIES (March 21-April 19): Listen carefully. Prepare and present your suggestions with confidence and you will get the respect you deserve and need in order to get things done. An unorthodox method may be a hard sell, but in the end, you’ll get rewarding results. HH

b ❶ ❶ BREAK out

your athletic style with these track pants

❷ CREATE an

effortless retro look perfect for the bowling alley with the vertical striped polo

❸ STAND out

from the crowd with Original Penguin’s classic Earl Polo

❹ SPORT a

retro look with the Color Block Track Jacket

❺ NEVER go

wrong with a retro-themed polo shirt

TAURUS (April 20-May 20): Speak up and share your feelings with the people you deal with today. Being up-front will help you get past any conflicts, misunderstandings or pressure you encounter. HHHH

Layer on and boogie away W ITH the colder months upon us, dressing cozy is the perfect excuse to amp up our style, as layering provides an opportunity to play with familiar colors and fun textures. When all of these come together in classic retro fits, the possibilities are endless. With all the fashion trends these days, you may say that conventional is boring, but tradition is still and will always be timeless. The classic American brand, Original Penguin (www.facebook.com/originalpenguinphilippines), understands and truly embodies this in its newest collection, which showcases the aesthetic of retro sport through color blocking, representing multiple decades of eclectic style. Called “B-Side Boogie,” the Fall 2018 line is built on heritage, looking back on the forgotten

subcultures of 40 years of fashion and roots in leisure sports. An energetic mash-up of 1960s Northern Soul, 1970s Disco, 1980s Hip Hop and 1990s Slacker, the brand mixes retro-bowling stripes and graphics in a playful way to redefine the classic shape and fit of Original Penguin merchandise. The color palette includes a medley of firecracker orange, midnight navy, vintage indigo and burgundy. From graphic t-shirts and polos, to track jackets and pants, give your wardrobe a shot of retro style with their items made with soft velour and quality cotton fabric, as what Original Penguin is known for. Never underestimate the power of a good polo, a snazzy jacket and sleek, comfortable pants. Whether you choose something from Original Penguin’s classic selections, or latest offerings, you are sure to get something made for originals...by originals. n

c

GEMINI (May 21-June 20): Keep moving forward; don’t stop until you have achieved what you set out to do. Make your intentions clear, and be willing to put the manpower behind your words. What you do will make a difference to someone in need. HHH

d

CANCER (June 21-July 22): Settle any differences you have using unique solutions that will offer everyone a little bit of something to satisfy their needs. Getting along will be the hard part; the rest will be a piece of cake. HHH

e

LEO (July 23-Aug. 22): Use your brain and talk your way in or out of whatever comes your way. Control your current situation using common sense and workable solutions. Arguments will slow you down and make it more difficult to find a suitable alternative. HHHH

f

VIRGO (Aug. 23-Sept. 22): It’s up to you to bring about change if you aren’t happy with the way things are moving forward. Put a little elbow grease into whatever needs to be done. HH

g

LIBRA (Sept. 23-Oct. 22): Get behind your plan instead of waiting for someone else to take control. Engage in conversations that motivate you. If you tell others your plans, it will help you live up to your word and follow through. HHHHH

STARRY SAINT LAURENT SHOW IN PARIS SEES MODELS WALK ON WATER By Thomas Adamson The Associated Press PARIS—With a powerful front row of stars, Saint Laurent headlined the second day of the 2019 spring-summer showing of Paris Fashion Week in an eclectic French twist on American styles that featured models walking on water. Stars such as Kate Moss, Cindy Crawford, Matt Dillon and Salma Hayek huddled together in front of 10 giant white palm trees as the Eiffel Tower sparkled at the stroke of 8 pm. Below the trees was a giant expanse of water. Models in luxury snake boots and sparkling disco heels suddenly appeared and—forgoing the dry catwalk strip—darted sideward to walk straight across the water. It triggered gasps from spectators, including a tardy Lindsay Lohan. But behold, the models didn’t sink. Instead, they merely sloshed and splashed. Designer Anthony Vaccarello was applauded for an impressive biblical-style trompe l’oeil feature for the 15-minute show that created the illusion of a sea despite the water measuring only 2 centimeters (less

than an inch) in depth. One American fashion editor duly commented that designers are “ruining a lot of perfectly good shoes with these water effects this season.” The palm trees, the water and structured swimsuits seemed to point to Malibu or Saint Tropez. Python boots, silver open-shirts, leather chap-like shorts and hats with chin toggles seemed to lead the eye to the US Midwest. Then, menswear tuxedos, boyish silhouettes, glam rock boots and silk multicolored jabot collars evoked the excesses of Studio 54 in its 1970s heyday when Yves Saint Laurent was a guest. This was what Vaccarello described as a collection with “different personalities.” “It’s a silhouette created by a variety of pieces, inspired by different eras and timeless icons. Eclecticism is freedom,” Vaccarello said. But like the water that splashed in every direction on the runway, this display splashed around its references and was ultimately hard to pin down. The more eye-catching designs—like a plunging V-neck blue and red minidress—though nothing new, are likely to continue the it-brand’s buoyant sales.

h

SCORPIO (Oct. 23-Nov. 21): Be open to suggestions but also intent on making them your own. Fine-tuning all the information you gather to fit your particular needs will lead to an interesting outcome that can become prosperous and quite beneficial socially. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Work through any setbacks you face by offering an incentive to those causing the roadblock. Know your market and the people you are dealing with to outmaneuver even your toughest opponent. An emotional incident will lead to personal change. HHH

j k

CAPRICORN (Dec. 22-Jan. 19): Don’t listen to someone trying to push you in a direction that isn’t right for you. Do your own thing, and make the change you want to see a priority. HHH AQUARIUS (Jan. 20-Feb. 18): Don’t feel you have to follow someone’s lead. Refuse to let your emotions step in and cause you to make a poor choice. Concentrate on saving money, as well as protecting your health, possessions and your reputation. HHH

l

PISCES (Feb. 19-March 20): Make your move. You’ll gain ground, convince others to tag along and help those who have lost their way. Your input can make a difference, so do your best to set a good example and to honor your promises. HHHHH BIRTHDAY BABY: You are entertaining, passionate and opportunistic. You are persevering and compelling.

‘hospital or vet?’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Blackens meat 6 Offshore greeting 10 Inhale with astonishment 14 Resurrected 15 Easy running gait 16 Singer Fitzgerald 17 Edible equines (Start) 20 U-turn from after 21 Shake, as liquids 22 Star quality 25 Old code pioneer 26 Guest columnist’s essay 30 Nabisco offering 32 It involves long stretches 35 Upper-class Brit 41 Edible equines (Middle) 43 Like the wind 44 U-turn from every single time 45 Holier ___ thou 47 In a skillful manner 48 Valentine gifts 53 Borden’s ad cow 56 Hug tightly

8 Hypnotic state 5 63 Edible equines (End) 66 Edible Pacific root 67 Royal in a sari 68 Home buyer’s option 69 Make like a geyser 70 Resting over 71 Accumulate strategically DOWN 1 Dungeness creature 2 Quarterback’s shout 3 “Dream on, clown!” 4 Makeover 5 Trap 6 Hearty pub brew 7 Manually attack weeds 8 Sense-dulling drug 9 Safe cracker of old films 10 Affect emotionally 11 Site of applauded kisses 12 Vegas pull-downs 13 Check recipient 18 PI or sleuth 19 That dude?

3 Scot’s fishing spot 2 24 Weapons stockpile 26 Hawaiian island 27 Barely paid labor 28 Goofs up 29 Two pills, often 31 Brewery oven 33 Servant of a small queen 34 “This ___ what I expected” 36 Chain in a cell 37 Minuscule amount 38 Cotton on a stick 39 Cash register 40 ___ in America 42 Charged particles 46 Jazz fan, old-school 48 Stops being busy 49 Scheduled in a bar? 50 Frighten 51 Macaroni variety 52 Do the Right Thing character 54 “___ be my pleasure” 55 Soap’s Kane 57 “...___, whatever will be...”

9 Splittable bit 5 60 La ___ (strange weather pattern) 61 New England fishes 62 A relative of Cain 64 Plastic ___ Band 65 Bitty bite

Solution to Friday’s puzzle:


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Monday, October 1, 2018

D3

For Dominic Roco, acting is life ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

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N JP Habac’s I’m Drunk, I Love You, Dominic Roco played the gay best friend of Maja Salvador, who called him by the term of endearment “Baks.” He imbued the role with delicacy and intelligence, never once resorting to caricature. Roco’s performance makes you wish you had a real-life buddy like his character in the movie. In this year’s Cinemalaya, Roco went from lighthearted fare of I’m Drunk...to serious drama as the rebel husband of Glaiza de Castro in Kip Oebanda’s Liway. He turned in another credible performance that’s powerfully subtle, one that never called attention to itself. That Dominic Roco is a very good, if vastly underrated actor is not exactly confounding since acting runs in the genes, being the son of the awardwinning Bembol Roco. For Liway, Dominic admitted that the actors didn’t have enough time to prepare. He was told about the project only a few days before cameras started rolling. “That was why I tried to immediately grow some facial hair so I would look more mature.” He feels the need to be comfortable in every role he accepts. He cited a TV series where he was told he was to play a lawyer and admittedly, Roco felt he had to have ample time to study. But then, local TV doesn’t work that way. One is usually thrown into a project in assembly-line speed which makes time to prepare really scarce. Liway is memorable to Roco because he was reunited with Glaiza de Castro, his favorite costar. The two have worked together in four movies, including

Sleepless where Roco won a Best Actor award at the QCinema Film Festival. Roco is under contract with GMA Artist Center but he doesn’t recall the management arm of the network ever finding an indie project for him. Roco shared that he himself scouts for casting calls for projects that he finds interesting. “I would pass an audition, get the formal offer and then forward it to my handler. It used to work that way until lately when they started to be less lenient.” But then again, Roco is thankful he’s been able to do projects where he felt his heart was in the right place, like the gay role in the aforementioned movie I’m Drunk, I Love You. The performance earned raves from those who saw it but, unfortunately, it didn’t receive a single acting nomination. “When I won Best Actor for Sleepless, I thought the award would send my career onto the fast lane. But after I won, I don’t think it really did anything to boost my career.” Lest he be misinterpreted, Roco says that recognition is always flattering but he would much rather that people remember he was good in a certain film. That’s worth more than an actual trophy. Not unlike his father, he has the mind-set of an actor. “I’ve actually told my management not to push me anymore as a leading man. All I want is regular work and a chance to do meaty roles. It’s hard when you’re playing the lead because the pressure always falls on you.” He is looking forward to doing a full-length film with his dad. They’ve worked before on the small screen. “It has been a longtime dream,” he said. The 29-year-old strikes us as someone who, from the get-go, resisted being a star and fall into the trap of celebrityhood, just like his iconic dad. The good news for film buffs is that Roco intends to stay in the business for as long as he can, until his hair grows gray. “This is what I know, this is what I love, and I’ll be doing this for the rest of my life. This is my passion, my life.” We are happy that we can expect to be enthralled by this fine actor’s gifts in the years to come. And we are quite sure that Dominic Roco will continue to give life to more memorable characters onscreen big or small. n

‘HOUSE OF CARDS’ TRAILER HAS ROBIN WRIGHT AT CENTER STAGE NEW YORK—The trailer for the next season of House of Cards is missing Kevin Spacey and declares: “The reign of the middle-aged white man is over.” The trailer released on Thursday depicts Robin Wright’s Claire Underwood taking over as president after her husband’s death in the Netflix series. Spacey, who played the late President Frank

Underwood, was fired from the show after several employees accused him of inappropriate behavior. And actor Anthony Rapp last year accused Spacey of sexual misconduct when he was 14 and Spacey was 26. Spacey tweeted an apology for what he labeled drunken behavior. The sixth and final season of House of Cards will be available on the streaming service November 2. AP

Pia makes history again as first Filipino to be at Madame Tussauds HK GET ready for an even more iconic Hong Kong trip as Madame Tussauds Hong Kong (www.madametussauds. com/hongkong) welcomes the first-ever Filipino figure to its roster of legendary personalities in early-2019: Pia Wurtzbach. You probably first heard of Pia Wurtzbach when she was crowned Miss Universe in 2015, but like a true global icon, she has since gone above and beyond her title, using her platform to bring light to HIV/AIDS issues as UNAIDS ambassador and setting an example of confidence and strength. “When I found out, I was so excited. I couldn’t believe it! In my head, this is something only happens to big stars,” said Pia. “I go to Madame Tussauds, so I know what it’s like and how fun it is there. And now, thinking that I’m going to be one of them, I’m very honored, I’m very grateful, and I can’t wait to see it.” She recently went through the measurement process—also known as a “sitting”—for her wax figure with the team from London. Before the sitting, she wanted to know how it would go so she researched what goes into the making of a wax figure and at first thought she’d have to be put in a tub of wax. “It was really quite a process and it’s so hi-tech. One second they were only taking a photo of my face then next thing I know, I see my face from different angles instantly. It’s amazing,” she said. Pia got a look at the different elements used in most wax figures and even goofed around with eyeballs and different hair colors. “The team is so good and professional at what they do,” she added. “They even did this process with Queen Elizabeth II.” A queen herself—Miss Universe, actress and humanitarian—it’s only fitting Pia Wurtzbach be the pioneer Filipino wax figure at the world-renowned Madame Tussauds Hong Kong. The popular attraction is home to immersive and interactive zones that bring to life iconic personalities

and cultural landmarks throughout history across a variety of fields, including entertainment, sports, science, politics and fashion. “Our Filipino guests have always been very important to us and we’ve always believed we should have a Filipino wax figure, so we’re very pleased to have Miss Pia Wurtzbach mark this milestone with us,” said Madame Tussauds General Manager Jenny You. “Leading up to this moment, we of course did our own research, and this is our way to showing the Filipino community living and visiting Hong Kong, as well as our neighbor Southeast Asian cities, that we heard them well. With Pia’s sweet, positive and fun personality, we really could not have imagined having anyone but her to represent the Philippines in this way.” She adds, “More than being a queen, she has all the makings of an icon and we’re proud to be able to house her wax figure at Madame Tussauds Hong Kong for the rest of the world to be able to interact with.”

DOMINIC ROCO


D4 Monday, October 1, 2018

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The only two makeup products that you need AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

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F you could only use two makeup products on your face, what would it be? The truth is, every woman can survive with just two makeup products—a face base and a brow pencil or gel. As someone who doesn’t believe in not wearing makeup to the workplace (or school if you are younger), I have been makeup-shamed so many times that I have lost count. I’ve been ridiculed for having too much blush/highlighter on, wearing lipstick that’s too red and even because I use foundation as it supposedly makes me look old. I’m not one to force women to wear makeup, but if I’m asked what two products a woman should wear if she is low maintenance, it would have to be a face base with a high SPF and a versatile brow product. I’ve been using It Cosmetics Your Skin But Better CC+ Cream for almost two years now. I got it after reading about the product’s claims online. Your Skin But Better CC+ Cream has an SPF 50+ (all mineral) and antiaging properties, and helps moisturize your skin. Aside from all these, it also applies smoothly without a primer. It’s really perfect for those who have no time to do their makeup. I use a foundation paddle brush to apply it all over my face and then I follow that with a Beautyblender. On days when the weather isn’t so hot and humid, I leave it as it is. Otherwise, I finish with a loose powder. The list of ingredients of It Cosmetics Your Skin But Better CC+ Cream is mindboggling and quite long. But the top ones include titanium dioxide, 9.0 percent, and zinc oxide, 6.3 percent. Inactive ingredients include water, snail secretion filtrate, phenyl trimethicone, dimethicone, butylene glycol, butylene glycol dicaprylate/dicaprate, orbignya oleifera seed oil, butyloctyl salicylate, cetyl peg/ppg-10/1 dimethicone, cyclopentasiloxane, cyclohexasiloxane and magnesium sulfate. Yes, that’s snail secretion filtrate, or snail slime, that you’re seeing on the list.

Snail slime claims to nourish and protect, prevent acne, exfoliate and even help in the healing of wounds. I’ve used the CC+ Cream without any problems. I have it in the shades Medium and Rich because there used to be three or four shades only so I’d mix these two. I’m happy to see them add a few more shades, including Neutral Tan. I’m happy with this CC+ Cream because it really is easy to use and doesn’t cause breakouts or clog my pores, especially when I have to go out every day with foundation on. It Cosmetics Your Skin But Better CC+ Cream also has an Illumination version for days when you’re feeling extra and don’t mind a bit of glitter on your face. Both versions of the CC+ Creams are available at sephora.ph for P2,560. As for brows, my go-to products are always from Benefit Cosmetics, mainly because they have an impressive range to choose from and I also go to them to have my brows waxed monthly. My favorites are ka-BROW Eyebrow Cream and Precisely, My Brow Pencil, which are both easy to use. Ka-BROW is a gel-cream that comes with its own brush so it’s perfect for traveling. Precisely, My Brow is a pencil with a very thin point that you can use for natural-looking brows. Recently, I tried Benefit Cosmetics’s Brow Contour Pro, which looks like those all-in-one ball pens with several colors. The concept of Brow Contour Pro is the same. Much like those ball pens with a black, blue, red and other colors, Brow Contour Pro features a lighter brow shade, deeper brow shade, edge definer and arch highlighter to help you create clean, shaped brows with depth and dimension. It’s available in several shades for a wide range of hair colors and skin tones. I use the Brown Medium one. I’ve been told that Brow Contour Pro is the pencil version of ka-BROW. I start with the second to the darkest shade to outline my brows then use the darkest color to draw hair-like strokes from the arch of my brows to the tail. Then the second to the darkest shade is used for the point where your brows start to the middle. Trace directly under your brow with the definer shade to sharpen the line and use the highlighter under the arch for a more sculpted look. The secret to using the Brow Contour Pro is in the blending, said Benefit Philippines National Brow Artist Celina Fernandez. Benefit has a Brow Blending AC Tool available at sephora.ph for P1,300. The Brow Contour Pro is priced at P2,050. n

Express yourself through your lips GLAM up for any occasion with the newest Matte Liquid Lipstick from Ever Bilena (www.everbilena.com. ph). Developed in collaboration with Kris Aquino, the lipstick comes in five shades: Lucky, Loyal, Laugh, Love and Life. Show how much you #LoveLoveLove your lips with Lucky, a universal mauve pink that suits any skin tone. Loyal is its darker alternative. Highlight your cute side with Laugh and Life, brighter colors that fit fairer skin tones. Go classic with the intensely red Love that can be used for all skin tones. For P255 each, give your lips a creamy matte finish and smooth gliding texture while keeping them well-moisturized throughout the day. Each lipstick is paraben-free and produced without causing cruelty to animals. The product is infused with antioxidants to help keep lips soft and smooth after use.


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Monday, October 1, 2018 E1

YOU HAVE TO STOP CANCELING AND RESCHEDULING THINGS. REALLY.

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By Whitney Johnson

HY do any of us say we will do things and then fail to do them?

We overcommit ourselves. We don’t like to disappoint people, so we tell them what we think they want to hear. We feel pressure in the moment and don’t stop to consider how much pressure we’ll feel later. We don’t think through how much time things will actually take. Up until a few years ago, I canceled or postponed meetings a lot. Then I read Stephen M.R. Covey’s book The Speed of Trust. It’s about being trustworthy. I had always thought that I was, but the author explains that when you make appointments and then cancel them, trustworthy you aren’t. When you fail to fulfill commitments that you freely make, trust is not the result. There are consequences for our personal lives, and there are certainly consequences in the workplace. Keeping commitments is a sign of maturity. Employees who don’t finish assignments, for instance, or finish them late or poorly, or are themselves routinely late, miss meetings and cancel appointments, are an

imposition on other team members and a liability to their employers. Last year I decided I would stop rescheduling my commitments and treat them as just that: commitments. And what I found is that when I committed to do the things I said I’d do, I actually felt much less stressed by them. As I kept more and more commitments, I got more and more confident. And I learned how long things really take. If you really mean no when you say yes, then say no in the first place. Ask for time to think things over if you’re unsure. Don’t overschedule yourself. You may require a transition period to weed some obligations out; after that, once you say yes to something, stick to the yes. If the commitment seemed like a good idea at the time, it still is—even if the value is found not in the activity itself but in being trustworthy and following through. Whitney Johnson is an executive coach, speaker and innovation thinker.

Disruptive start-ups get funding more easily, but less of it

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By Timo van Balen & Murat Tarakci

N the start-up world, the disrupter is the cool kid on the block, the one who’ll change the world—or at least the products you’ll buy and how you buy them. Customers love her because she makes them feel like rebels (with a cause), suppliers love her because she makes them look smart, and—most important—investors love her because she makes them feel they’re putting money into tomorrow’s big player. That, at least, is what the hype around disruption would have you believe. Does presenting yourself as a disrupter really make it more likely that your start-up will get the backing it needs? To answer this question, we studied 918 start-ups in Israel seeking a first round of funding. We obtained data from a private nonprofit organization that tracks the Israeli startup ecosystem and offers an exhaustive platform for investors to scout for promising startups. What did we find? Unfortunately, what we got was a “Yes, but...” rather than a resounding confirmation or refutation. The results showed that, yes, increasing a venture’s communication of a disruptive vision improved the odds of that venture receiving early funding by 22

percent. However, the venture would also very likely find that the amounts it raised went down by 24 percent. That raised an interesting question: Why would investors be more willing to invest and less generous at the same time? We found that investors treated disruptive ventures like options. They wanted the chance to be part of “the next big thing,” a venture that had the potential for extraordinary returns. But they didn’t want too many eggs in one basket. By investing less in a self-proclaimed disrupter, investors don’t so much fund the venture as pay for the right to make further investments in the future. Where does this leave the entrepreneur? If your venture is a high-risk proposition that might struggle to acquire an investment, you should have a compelling disruption story that will help convince investors. But if you feel the venture’s main risks are less in the idea and more in its execution, perhaps you should talk more about your experience and your capabilities. You’re more likely to get the amount you need. Timo van Balen is a PhD candidate at the Rotterdam School of Management in the Netherlands. Murat Tarakci is a professor at the Rotterdam School of Management.

© 2018 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

How to tell if you’re delegating too much—and what to do about it

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By Anne Sugar

VERYONE knows leaders should delegate. But if you find yourself frequently miscommunicating with your team, hearing about issues at the last minute and misunderstanding how your team has set their priorities, it may be a sign you’ve delegated too much, leaving employees feeling abandoned and unmotivated. At that point, it’s important to take back responsibility for certain tasks to ensure you’re providing your team the guidance and structure they need. Here are three steps you can take.

Take on a symbolic project

OBVIOUSLY, you don’t want to overcorrect and start doing a myriad of low-level tasks in order to reconnect with your team. But taking on a symbolic project or task can be a visible way of demonstrating your reengagement, as well as helping the company and advancing your own learning goals.

Reset with your team

ONE chief technology officer I coached realized he’d been delegating too much. He’d been frustrated that departmental projects he had delegated got lost and forgotten amid looming client deadlines. To combat this, he scheduled an offsite meet-

ing to get everyone on the same page again about goals and expectations. He realized through the process that his team hadn’t understood the rationale or urgency behind the projects. Afterward, he could follow up more effectively and make smarter determinations about where he could delegate without going too far, and his team was much more willing to focus on internal projects, as well.

Recommunicate the vision

THE biggest over-delegation risk for leaders is leaving the vision or culture of the company to others. If you’re noticing that output on projects has stalled, that there’s excessive disagreement on tasks and process, or unexpected and inconsistent behavior among team members, it may be a sign that you’ve over-delegated the vision to the point where team members feel they’re interpreting it or making it up on their own. Make sure you’re using every public communication opportunity you have to stress and reinforce the message. Without this approach, there can be a cascading effect of morale issues, loss of creativity and a lack of teamwork. But most, important, there is a loss of credibility for the leader. Anne Sugar is an executive coach and speaker.

How a cyber attack could cause the next financial crisis By Paul Mee & Til Schuermann

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VER since the financial crisis 10 years ago, regulators, risk managers and central bankers around the globe have focused on shoring up banks’ ability to withstand financial shocks. But the next crisis might not come from a financial shock at all. The more likely culprit: a cyberattack that causes disruptions to financial services capabilities, especially payments systems, around the world. A likely scenario would be an attack by a rogue nation or terrorist group on financial institutions or major infrastructure. An attack on a bank, investment fund, custodian firm, ATM network, the interbank messaging network or the Federal Reserve itself would represent a direct hit on the financial services system. Another possibility would be if a so-called hacktivist or script kiddie amateur were to use malicious programs to launch a cyberattack without due consideration of the consequences. Such an attack could have a chain reaction, causing damage far beyond the original intent. Whether a major cyberattack is deliberate or somewhat accidental, the damage could be substantial. Most of the ATM networks across North America could freeze. Credit card and other payment systems could fail across entire nations. Online banking could become inaccessible. Banks could lose the ability to transact with one another during a critical period of uncertainty. There could be widespread panic, albeit temporary. It isn’t clear how a central bank, the traditional financial crisis firefighter, could respond to this type of crisis on short notice. After the problem is fixed and the crisis halted, a daunting task of recovery would loom. It would be even more difficult if data were corrupted, manipulated or rendered inaccessible. Companies must implement systems that enable them to stop the spread of a cyberattack contagion, and to resume operations as rapidly and smoothly as possible. The financial services industry needs to fully agree on, and be prepared to practice, coordinated response and recovery strategies to prevent systemic breakdowns. Regulators in many nations need to look beyond their own borders and introduce regulations, laws and cooperative frameworks in unison, like the European Union’s Network and Information Security Directive, which is designed to protect an ever-growing list of critical infrastructure from banking and health-care systems to online marketplaces and cloud services. Paul Mee is a partner at consulting firm Oliver Wyman and leads its cyber risk practice. Til Schuermann is a partner in Oliver Wyman’s financial services practice.


E2 Monday, October 1, 2018 • Editor: Efleda P. Campos

Education BusinessMirror

DBP donates ₧500-M seed fund to help poor high-school graduates M

www.businessmirror.com.ph

Mapua offers PHL’s first graduate program in business analytics

By Rizal Raoul S. Reyes @brownindio

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Contributor

HE Development Bank of the Philippines on September 21 launched the DBP Resources for Inclusive and Sustainable Education (DBP RISE), a program financed by a P500-million seed fund that targets underprivileged high-school graduates across the archipelago.

and expenses during review for board exams,” she added. The DBP has tapped 14 partnerschools for this initiative comprised of eight state universities and colleges and six private educational institutions. These schools are the University of the Philippines Los Baños, Polytechnic University of the Philippines, Bulacan State University, Emilio Aguinaldo College, Mindanao State University, Mindanao State University of Science and Technology, Misamis University, Our Lady of Triumph Institute of Technology, Palawan State University, Philippine Normal University, University of Cebu, Lyceum of the Philippines University Batangas, West Bay College and West Visayas State University. DBP RISE is the offshoot of the DBP Endowment for Education Program (DEEP), which is nearing its completion after a decade of implementation. DEEP has produced more than 3,500 graduates with more than 85 percent now gainfully employed. Out of that number, 47 percent were from Mindanao, 34 percent are from

Luzon while 19 percent hailed from the Visayas. Meanwhile, Borromeo said that the DBP also formed a partnership with the Palawan provincial government, the municipality of Taytay, Palawan, and the Taytay Municipal Farmers Federation for the reforestation of the catchment areas of Lake Manguao in Taytay, Palawan. Taytay, Palawan, is a first-class municipality located in the northern part of the province. It has a population of more than 75,000, according to the latest data from the Philippine Statistics Authority. “This program should help protect Lake Manguao, the largest freshwater lake in Palawan, through the planting of high-value tree species like apitong, mahogany, ipil and narra as well as endemic and native species of forest trees. It will also promote a habitat conducive to wildlife including species endemic to Palawan,” Borromeo said. Palawan Gov. Jose Alvarez said the reforestation program will help boost the province’s sustainability and the people’s livelihood.

DBP President and CEO Cecilia C. Borromeo said DBP RISE seeks to provide scholarships to more than 2,500 scholars in the next five years. “As one of the top government financial institutions, the DBP is being tasked to do more so that the administration’s poverty alleviation efforts will be felt by more Filipinos,” Borromeo said. “DBP RISE is one project that can make a substantial

difference in the lives of many of our poor countrymen.” Under the DBP RISE program, Borromeo said the bank will support students enrolled in courses such as accountancy, engineering, education and information technology, adding “the DBP would shoulder tuition fees, board and lodging expenses, living allowance, cost of apprenticeship, residency training

DLSU only private PHL university included in top 3% of 2019 World University Rankings

Tau Omega Mu offers free clinics, surgeries in Samar, Leyte to mark 46th year

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INGAPORE—The Times Higher Education (THE) announced on September 26 that De La Salle University (DLSU) is the only Philippine private university that secured a spot in its 2019 World University Rankings. A formal announcement was held in the THE Academic World Summit in the Stephen Riady Centre, National University of Singapore, Singapore. DLSU makes its inaugural appearance in the 801-1000 bracket, placing it in the top 3 percent of higher-education institutions worldwide. On its 15th year, the THE Rankings listed the world’s most outstanding research-intensive universities, requiring a threshold number of Scopus publications, combined with data on teaching, innovation, international outlook and reputation. THE is a leading provider of higher-education data for research-intensive institutions globally. DLSU Vice Chancellor for Research and Innovation Dr. Raymond Tan explained this new achievement for the university. “DLSU’s entry in the research-oriented THE rankings is an important milestone in our quest to become a university of international standing. It is also a testament to how well our faculty has responded to the challenge of creating a modern, innovation-driven DLSU for our students and alumni. We now find ourselves in a better position to contribute to Philippine development through the creation of human and knowledge capital.” DLSU takes pride in being the sole private university in the Philippines to earn a spot in this ranking, with its continued commitment to serve as a resource of innovative and sustainable solutions to global challenges through higher education and research. This is in line with the university’s commitment to be at the forefront of nation-building and the preservation of the credibility of Philippine tertiary education in an integrated Asean.

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HE Tau Omega Mu Fraternity and Ladies Circle is holding medical missions in key cities and towns in Eastern Visayas as part of activities to mark the organization’s foundation 46 years ago at the University of the Philippines. The medical missions will include free surgeries, such as thyroidectomy, hysterectomy, myomectomy, herniorrhaphy, cholecystectomy, along with cyst, lipoma and uncomplicated breast-mass incisions, as well as cataract removal, circumcision and other general surgeries. In coordination with the Department of Health (DOH) and concerned local governments units (LGUs), the initial phase of the medical missions kicked off on August 6 through the simultaneous conduct of pre-surgery evaluations of potential surgical patients in designated DOH regional health units (RHUs) in the cities of Catbalogan and Calbayog in Samar. The medical missions culminate between

October 8 and 12, when preevaluated indigent patients undergo the free surgical procedures at the RHUs in Catbalogan (for various surgical issues) and Calbayog (for cataract problem only). The surgeons in Catbalogan will be led by volunteers from Memphis Outreach, a US-based nongovernment organization (NGO); while Filipino doctors will perform the free cataract surgeries in Calbayog. As part of culmination activities, other medical volunteers will hold free consultations and distribution of free medicines and reading glasses in RHUs in Calbayog (October 9); Pinabacdao, Samar (October 8 and 10); Alang-Alang, Leyte (October 11); and Baybay also in Leyte (October 12). The last day of the medical mission coincides with the organization’s foundation day on October 12. Tau Omega Mu was established on that day in UP in 1972. It has since established chapters in various schools all over the Philippines, as

well as overseas alumni organizations, known collectively as Tau Omega Mu International. Tau Omega Mu is holding the activity with support not only from Tau Omega International, but also from resident and alumni members in the Philippines, especially UP College Tacloban, whose members are also celebrating their 36th anniversary this December. On October 13 Tau Omega Mu members will also join counterparts from the Visayas State University in Baybay in celebrating their own fifth founding anniversary. Aside from concerned government agencies and Memphis Outreach, other NGOs, as well as individuals from the US and Europe, extended their support to the medical missions through Tau Omega Mu International. Other members and friends who want to help the activity are encouraged to get in touch with Dr. Rutche Egos at 0917-790-1587; and Lovella Libertad at 0906-379-3440.

Matigsalugs embrace digital way of learning, keep traditions alive

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EMBERS of Davao City’s Matigsalug tribe now have a smart and innovative way of preserving their culture and enhancing their next generation’s literacy—the Matigsalug app. A first of its kind in the Philippines, the recently launched mobile application that promotes basic literacy in the Matigsalug language is a project of PLDT wireless unit Smart Communications. The mobile app has interactive features that teach users to read, write and recite the tribal alphabet. It also teaches word association and how to count in Matigsalug. Moreover, it lets users sing along to Matigsalug songs for children. It also features tribal dances and chants. The app is now available for free download on Android devices.

Datu Robert Siawan of the Matigsalug tribe in Sitio Contract expressed gratitude to the people behind the project as it helps in addressing their problem of keeping their culture and traditions alive. “We are more than thankful that we are chosen as the tribe beneficiary of this project. It is also a way of enhancing learning and promoting our tribe’s culture to the rest of the world,” he said in vernacular during the app’s launching at Datu Salumay, Marilog District, Davao City. Traditionally, elders write down their history and traditions in a logbook, and then let their young tribe members read it. Siawan shared that the app is an effective way of capturing today’s generation’s attention to learning, as the traditional way is becoming less appealing to the youth.

“There is really a need to put extra effort in promoting our culture so that it can be passed on to the next generation. This app can be very helpful to our tribe members, especially to the youth, to appreciate their heritage. People who want to learn our culture can also use this app,” Siawan added. To provide access to the newly launched app, Smart also donated tablets for use of the community. Among the Matigsalugs who tested the app is Peter A. Gulam, a Grade 6 pupil at the Pamulaan Center for Indigenous People’s (IP) Education. Peter sees the app as a more fun yet informative way of learning. “The app is fun. I can learn a lot from it. I enjoyed most those videos featuring our tribe,” the young Matigsalug said in his native tongue.

51Talk affirms China-PHL education cooperation in Beijing Summit

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EADING online English education provider 51Talk showed its best practices in promoting educational exchange and affirmed its deep cooperation between Chinese and Filipinos as it co-organized with the Economic Observer the recently concluded China-Philippines Education Forum held in Beijing, China. Themed “Connecting One Belt and One Road in Culture, Talent and Education,” the event centered on how to build and develop a universal education system that enhances the learners’ learning capability amid diversity and geographic differences. In his speech, titled “Embrace ‘One Belt and One Road’ Innovation: Responsibility in the Education Industry,” 51Talk Founder and CEO Jack Huang analyzed the status of English education

market in China at present. He said this is a fastgrowing business in the world’s most populous nation, of which 22.58 percent is Web-based. This figure is expected to increase further to 36.09 percent on the back of K-12 education, which refers to the North American designation for students from kindergarten through 12th grade, that will claim more market share in China’s second-, third- and fourth-tier cities. Despite the rosy outlook, however, Huang said there is still a gap in the communication skills of the more than 1 billion Chinese population using the universal language other than their native lingua franca. With this in mind, he emphasized the importance of developing a strategy to strengthen the cooperation between the Philippines and China insofar as English on-

line education field is concerned. “Foreign teachers in the Philippines are patient and kind, and have a similar cultural background with Chinese students. The two groups are a good match,” said the top executive during the forum slated in the capital city of China recently. Since both countries complement each other, Wang Yan, director of Department of International Cooperation at the National Institute of Education Sciences, is confident of their continuous collaborative effort in this space. “Holding such a forum is of great significance in promoting friendship between China and the Philippines, bringing more benefits to the people of both countries, as well,” he said. Pushing further the educational trade,

nevertheless, does not end with partnership, but also leveraging on the Internet and technological advancement. “Human beings have undergone three great historic changes, from agricultural civilization to industrial civilization and the information civilization,” said Li Zhimin, vice president of Chinese Society of Educational Development Strategy. “At present, children who take advantage of the latest technological advances can learn anytime and anywhere. In the future, online learning will play a bigger role in the market.” 51Talk is already ahead of this upcoming trend. Established as a premier online English education provider in 2011, it connects highly competent Filipino electronic-educators (e-educators) to Chinese foreign-language learners.

APUA University is now offering a Master in Business Analytics (MAN). The university’s MAN program is the Philippines’s first graduate program in business analytics aiming to produce top-notch data science and analytics practitioners, who are in demand in today’s industry. “Due to computerization, businesses nowadays amass huge amounts of data on a daily basis. At the same time, computers also allow them to systematically sift through and analyze these data to generate useful information,” said Dr. Reynaldo B. Vea, Mapua University president. “A Master in Business Analytics program, therefore, ought to be valuable to business organizations and individuals.” Students of the program will undergo a practical curriculum. Trainings and fieldwork will be based on live business problems that can be solved by analytics. They will also receive extensive trainings on communication to effectively deliver outcomes for business decision-makers. Teamwork and peer-to-peer learning are also keys to MAN students’ success. “The program’s practicum feature, in which the student will have a hands-on experience in solving an actual and current problem using powerful software, advanced analytical techniques, proven best practices and practical collaboration with experts and sponsors, will give our students the edge,” Vea added. “These are the differentiating dimensions of our offering.” MAN program’s practical curriculum is designed to address the needs of different industries—banking, insurance, telecommunications, power and energy, manufacturing, retail, distribution and the government. The program was patterned after Master of Science in Analytics, (MSA) of North Carolina State University’s Institute for Advanced Analytics whose mission is to produce the world’s finest practitioners of analytics by mastering complex methods and tools for large-scale data modeling with a passion for

solving challenging problems through teamwork. “The collaboration of Mapua University and North Carolina State University for MAN was made possible through the kind sponsorship of Dr. James Goodnight, founder and CEO of SAS,” said Vea. Dr. Michael Rappa, Goodnight director, and distinguished professor and founding director of the Institute of Advanced Analytics, along with his faculty, shared program details, best practices and decadelong experiences to Dean Ariel Kelly D. Balan of Mapua’s School of Information Technology during his visit in NC State for the said collaboration. “Imparting MSA’s discipline to Mapua’s MAN reaches our degree’s own objective. It is a commendable act of Mapua to take this unprecedented step in the Philippines as it contributes greatly in promoting the global practice of data science and analytics,” Rappa said. Mapua’s MAN will also receive sponsorships from leading organizations of the industry. The Yuchengco Group of Cos., through its membercompanies—RCBC, RCBC Savings, Bankard, Malayan, and FNAC—will be the pilot sponsors of the program. These sponsors will provide students the exact environment for learning application—business problem, data, real-world problem-solving experience and presentation of results. “The Master in Business Analytics program in Mapua is my personal commitment to uplift the quality, technical capability and industryreadiness of our bright, young Filipino professionals so they are better equipped to contribute to their employers’ mission and share positively in the building of our nation,” said Helen Yuchengco Dee, chairman of the Yuchengco Group of Cos. Guest lecturers who are experts in their fields will also provide added practical education by sharing cases and applications of analytics in their own fields of expertise, such as banking, telecommunications, retail, big data, artificial intelligence and machine learning.

Seminar on How to JV Effectively with the Govt

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OINT ventures (JVs) are increasingly becoming popular as a faster and easier approach toward implementing infrastructure, development and social service-related projects at the national and local government levels. To guide the private sector on how to joint venture with the government and vice versa, the Center for Global Best Practices will host its yearly training, entitled “Business and Public Officials’ Guide on How to Joint Venture Effectively with the Government,” to be held on October 12 at the Manila Marriott Hotel, Pasay City. To accelerate more economic growth through public-private partnerships, the National Economic and Development Authority (Neda) released the 2013 revised JV Guidelines applicable for government-owned and -controlled corporations, government instrumentalities, government financial institutions, and state universities and colleges. For local government units (LGUs), they are governed by their own JV ordinances. The authority of LGUs to enter JVs and provide their own guidelines has been affirmed by the Department of the Interior and Local Government (DILG) and the Department of Justice (DOJ). This one-day special program will deal on the definition of a JV, requirements, cash and noncash contributions of parties, procedures for selecting partners, bundling or unbundling of project components, and trends, opportunities and challenges. Examples of existing and prospective JV projects, such as water, reclamation, public markets, bus terminals, land development, government centers, power, transport and more. Participants will get a softcopy compilation of templates of actual and proposed JV ordinances. This special program will feature former DOJ Secretary Alberto C. Agra, one of the only two in the world who is both

a Certified PPP Specialist and Certified Regulation Specialist. He drafted a proposed PPP Code/Ordinance for LGUs which, to date, has been adopted by 81 LGUs in the Philippines—and is now the official template of the DILG with over 100 LGUs adopting his version. Agra was also part of the team who developed the 2008 Neda JV Guidelines. He has conducted over a hundred lectures on PPPs and JVs. He is also the author of the Proposed PPP Ordinance: Annotated and coauthor of the book, Knowing PPP, BOTs & JV: A Legal Ordinance. Currently, he holds a position as the chairman of the Philippine Reclamation Authority, and is a PPP, Local Government Professor and Political Law Bar Reviewer at Ateneo Law School. This program 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 for three or more registrants. Seats are limited and preregistration is required. For the details of this training and a complete list of upcoming programs, check www.cgbp.ph. Other featured programs on the web site include PPP Certification Program, How to Prepare Unsolicited Proposals for Government Projects, Best Practices and Remedies to Avoid COA Disallowances, Best Practices Guide on How to Prepare Your Bidding Documents, Property Owner’s Guide to Ejecting Illegal Dwellers Effectively, Resolving Right-of-Way Issues and many more. For inquiries, you may call lines 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.


Marketing BusinessMirror

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Editor: Efleda P. Campos • Monday, October 1, 2018 E3

PR THEN AND NOW:

DOING GOOD AND TELLING IT WELL T

By Luis J. Morales

thing you want to know, you can learn in an instant. So be diligent in keeping yourself updated on trends and knowledge because that will be your edge in this business. With technology further and further personalizing experiences, who knows what direction PR is going to take in the coming years? One thing is certain, however. PR is unlikely to go out of business because its business is information. Everybody needs it, in one way, shape, or form.

PR as communication for audiovisual media

BACK in the 1970s, PR was largely about writing stories and giving them to the press to be printed in the papers or broadcasted on TV or the radio. It used to be just news stories that companies saw fit to share with their audience: product launches, corporate movements, upcoming events, etc. The main goal was simply to inform. Companies would push their messages for the public to consume. You can say that PR as a corporate tool focused mainly on media relations and publicity. But Mr. Carpio saw beyond that. He founded the Public Relations Society of the Philippines and used it as a platform to professionalize the field. So from advertising, I got into the business of PR. We networked and slowly built connections with the who’s who in business and government because PRSP under Mr. Carpio used PR to build, not just awareness, but understanding and appreciation of businesses and institutions, as well as individuals. PR eventually developed into what is called corporate communication. More than just publicity, the practice grew to include corporate social responsibility (CSR), crisis management, stakeholder relations, and other projects that are more exclusive and expansive in terms of reach and engagement. It became more about building mutually beneficial relationships with customers.

Dawn of the Internet

PR evolved further when the Internet came. The Internet revolutionized communication by making it more dynamic, synergetic and liberal. But the most important change that the Internet brought is it enabled audiences, who were once mere recipients, to talk back to the companies and corporations. This is actually an ideal model of communication for us. Knowing what customers think gives plenty of insight on how to serve them better. It helps us create more involved and developed programs that have better reach and higher level of engagement. Stories now include real people’s experiences with the product or brand, with lots of action reported in real time, or thought leadership initiatives, among others. They’re also almost always accompanied by preproduced shareable content like videos, infographics and listicles. Actually, some of the current PR efforts grow by themselves. They reach places we never knew existed and give birth to new ideas we could use to further our messages. Moreover, these things become part and parcel of weaving the fabric of a brand’s story. Along with this, the goals of PR changed, as well. From merely to inform, PR is now used to educate, influence and engage the target audience so much so that the relationship with them leads to brand love and loyalty. There’s a caveat to it, however.

WWW.FREEPIK.COM | DESIGNED BY MAKYZZ

PR Matters

HE Father of Philippine PR and my mentor Jose A. Carpio defined Public Relations as “doing good and telling it well.” It still rings true even now, almost 50 years since I started in the business. You see, much of the development of Philippine PR was anchored on the evolution of technology, of the media used to communicate the messages, but the principle is and will always be the same. If you are doing something good and you are able to communicate it well to those you want to reach, you’ve made a mark and secured an audience.

The opening of the audience channel via the Internet, or social media in particular, is a double-edged sword. As much as it’s easy to share positive information, people can also spread lies and fake news about anyone or anything just as quickly. User-generated content can spread like wildfire and there’s often little that can be done to stop it.

Learn from ‘then’ to survive PR ‘now’

IN order to succeed in the business of communication today, a few lessons from the past must be kept in mind. These values have stood the test of time and are as relevant now as they were then. n Build and maintain good relationships. There’s a nuance

that in PR, you serve two masters the client and the media. The challenge always lies in how to balance the interests of both, without ever losing track of what either needs. On one hand, your clients are your source of business and they can help connect you with other businesses. On the other, your media contacts can make or break your deliverables to your clients. At the end of the day, the client will always look at how well you relate to your media contacts and respond to their needs in their assessment of your performance as communication professionals. n Find new ways to “tell it well.” You’re lucky because technology has opened up more avenues or channels to tell your client’s story. Be creative and maximize everything at your disposal. Be on the lookout for new inventions. Dig deeper and strengthen your storytelling capacities. Always remember that people are hungry for new stories. If you notice, the things that go viral are those that break the norm so don’t be afraid to be unique and disruptive. Most important, don’t be too serious and learn to have fun when it’s appropriate. n Listen to your audience. Use your social-media properties optimally. Dominating the conversation is good on paper because you get to control the message, but times have changed. If we stick with the one-way communication model, we’d have missed out on a lot of opportunities to serve our clients better. n Learn continuously. The Internet has leveled the playing field when it comes to education. Every-

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Luis J. Morales is the chairman of CID Communication Inc. 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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E4 Monday, October 1, 2018

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Flashback: The Anita Hill hearings compared to today By Mikayla Bouchard & Marisa Schwartz Taylor

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New York Times News Service

S nominees to the Supreme Court, Judges Clarence Thomas and Brett Kavanaugh were both selected by Republican presidents to replace retiring justices. Both attended Yale Law School and were judges on the US Court of Appeals for the District of Columbia Circuit. And both were accused of sexual misconduct.

JUDGE Brett Kavanaugh, President Donald Trump’s nominee for the Supreme Court, testifies during his confirmation hearing before the Senate Judiciary Committee on Capitol Hill in Washington, September 4, 2018. DOUG MILLS/THE NEW YORK TIMES

Thomas now sits on the bench while Kavanaugh’s fate, nearly 27 years later, is yet to be decided. Last Thursday, the Senate Judiciary Committee convened to hear allegations of sexual assault made by Christine Blasey Ford against Kavanaugh, dating back to when they were both teenagers. Two other women, Deborah Ramirez and Julie Swetnick, have also publicly accused Kavanaugh of sexual misconduct but were not scheduled to testify in front of the committee. The following is a comparison of events leading up to Thursday’s hearing and the hearings in 1991.

The accusers and the claims 1991: Anita F. Hill

“He spoke about acts that he had seen in pornographic films involving such matters as women having sex with animals and films showing group sex or rape scenes. He talked about pornographic materials depicting in-

dividuals with large penises or large breasts involved in various sex acts. On several occasions, Thomas told me graphically of his own sexual prowess.”—Hill said in her testimony At the time of the hearings in 1991, Hill was a law professor at the University of Oklahoma. Hill was born and raised in Oklahoma, attended Oklahoma State University and graduated from Yale Law School. She said that Thomas made repeated overtures to her, which she rebuffed, while she was working for him in the Education Department and at the Equal Employment Opportunity Commission. Hill came forward after she was contacted by a Senate staff member who was investigating Thomas’s background. 2018: Christine Blasey Ford

“I was pushed into a bedroom and was locked in the room and pushed onto a bed. Two boys were in the room. Brett laid on top of me and tried to remove

ANITA HILL testifies during the Clarence Thomas harassment hearings in Washington, October 11, 1991. JOSE R. LOPEZ/THE NEW YORK TIMES

my clothes while groping me. He held me down and put his hand on my mouth to stop me from screaming for help.”—Blasey wrote in a letter. Blasey, who is also known by her married name of Ford, is a professor at Palo Alto University and a research psychologist at Stanford University’s medical school. She grew up in the Washington suburbs and attended Holton-Arms, an elite high school for girls. Women at Blasey’s high school often socialized with students from other private schools in the area, including Kavanaugh’s school. Blasey’s claim stems from a party she believes occurred in 1982, when she and Kavanaugh were both high-school students. Blasey sent a letter detailing her allegations to the office of Rep. Anna Eshoo, D-California, her congresswoman, but asked for confidentiality. Eshoo’s office forwarded it to Sen. Dianne Feinstein of California, the ranking Demo-

cratic member on the Judiciary Committee. Feinstein released a statement after the initial round of hearings was completed, saying she had referred a matter involving Kavanaugh to the FBI, but did not give details about who or what it entailed. Days later, Blasey gave an interview to The Washington Post, revealing her identity and describing the claims.

The nominees 1991: Judge Clarence Thomas

NOMINATED by President George H.W. Bush to replace retiring Justice Thurgood Marshall, Thomas was on the US Court of Appeals for the District of Columbia Circuit. He grew up poor in Jim Crow-era Georgia and moved in with his grandparents in Savannah when he was 7, the first time he lived in a house with a toilet. Thomas credits his grandfather for his success in encouraging hard work and his continuing

education. He attended the College of the Holy Cross and Yale Law School. Thomas worked in the Reagan administration, first in the Education Department and then at the Equal Employment Opportunity Commission. 2018: Judge Brett Kavanaugh

PRESIDENT Donald Trump selected Kavanaugh to fill the seat vacated by Justice Anthony M. Kennedy, who retired in July. Kavanaugh, whose mother was also a judge, attended Georgetown Preparatory School, an elite all-boys high school in the Washington suburbs, and then Yale University for his undergraduate studies and law school. Pages from Kavanaugh’s 1982 calendar, which he released in response to Blasey’s claims, show his summer days were often spent at the beach, going to movies, working out or hanging out with his friends. He was a member of the team, led by Ken Starr, that investigated President Bill Clinton for his affair with Monica Lewinsky and later worked in President George W. Bush’s administration. Like Thomas, Kavanaugh was appointed to the U.S. Court of Appeals for the District of Columbia Circuit.

The cultural and political climate of the accusations 1991

THE image in 1991 of the Senate Judiciary Committee—all white men—repeatedly asking an African-American woman to answer, in graphic detail, questions about sexual harassment prompted outrage and inspired a wave of women, including a young Dianne Feinstein, to run for office. The next election, in 1992, was dubbed the “year of the woman” for the number of women elected to become senators. 2018

JUDGE Clarence Thomas during his Senate Judiciary Committee confirmation hearings in Washington, October 11, 1991. PAUL HOSEFROS/THE NEW YORK TIMES

THE downfall of powerful figures like Harvey Weinstein, Charlie Rose and Bill O’Reilly after allegations of sexual misconduct brought the #MeToo movement center stage. The cultural moment has given victims of sexual assault a heightened platform from which

to speak out. For the accused, the level scrutiny in “he said, she said” moments is at an all-time high and the traditional burden of proof has shifted. At the same time, Thursday’s hearing came just weeks before a midterm election with a record number of women running for the House and Senate. The election could alter the balance of power in Washington that is experiencing a fiercely polarized climate since the election of Trump.

The Judiciary Committee

THREE members of the Judiciary Committee now were also on the panel during Thomas’s confirmation hearings: Sens. Chuck Grassley—the current chairman—Orrin Hatch and Patrick Leahy. This time around, Republicans opted to bring in an outside litigator who specializes in sexual crimes, Rachel Mitchell, to question Blasey. The move allowed the 11 Republicans on the committee—all white men—to avoid the optics on national television of them grilling Blasey. Democratic senators on the committee, some of whom are considered likely 2020 presidential candidates, questioned Blasey.

How the nominees responded 1991

“As far as I’m concerned, it is a hightech lynching for uppity blacks.” 2018

“YOUR coordinated and well-funded effort to destroy my good name and destroy my family will not drive me out. The vile threats of violence against my family will not drive me out. You may defeat me in the final vote, but you’ll never get me to quit. Never.”

The result 1991

Thomas was confirmed by a vote of 52-48. 2018

THE Senate Judiciary Committee has scheduled a vote on Friday morning to move the confirmation process to a full vote. Kavanaugh’s fate is still in question.