BusinessMirror October 05, 2018

TIES THAT BIND Former US senator, assistant defense chief and secretary of the navy James H. Webb Jr. (left photo) is accompanied by US Ambassador to the Philippines Sung Y. Kim as he arrives at the Rotary Club of Manila luncheon forum, where he was guest speaker, on Thursday. In right photo, Webb is joined by (from left) Sen. Richard Gordon, Sharon Tan, Aliw Media Group and BusinessMirror Chairman D. Edgard A. Cabangon, and leading Rotarian Jackie Rodriguez. Webb told the Rotary Club the Philippines and the United States must work together to resist any notion that “economic growth justifies territorial expansion,” referring to Beijing’s moves in the South China Sea. Story on A6. NONIE REYES

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A broader look at today’s business n

Friday, October 5, 2018 Vol. 13 No. 356

Lawmakers set review of higher fuel, coal tax L

By Cai U. Ordinario @cuo_bm, Butch Fernandez @butchfBM & Elijah Felice E. Rosales @alyasjah

AWMAKERS moved on Thursday to consider the suspension of two taxes embraced by the Tax Reform for Acceleration and Inclusion (TRAIN) law, seen to spur inflation by swelling prices on fuel and power rates, which both cut across key economic sectors.

Some members of the House of Representatives are pushing for the suspension and repeal of the excise taxes imposed on fuel by the TRAIN law.

NFA Council awaits DTI plan on rice importation

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HE National Food Authority Council (NFAC) is awaiting the formal proposal of the Department of Trade Industry (DTI) to allow the private sector to import rice that will be sold in government-owned stores at a fixed affordable price.

Agriculture Secretar y Emmanuel F. Piñol, who is also the NFAC chairman, said the interagency body has not received the DTI’s written proposal to allow supermarkets to import 350,000 metric tons (MT) of rice.

See “NFA,” A6

In the Senate, the chairman of the Energy panel said he will support a review of the coal tax that businessmen had blamed on Wednesday for further bloating power rates, adding

that the gap between rates in the Philippines and those in its neighbors have widened to as much as P4 to P7 per kilowatt-hour.

The Philippine Chamber of

Commerce and Industry (PCCI) has asked the government to defer imposition of the next-round increase on the coal tax, fearing this will trigger upward adjustments in power rates affecting the economy.

H

IGH commodity prices and the lackluster performance of the economy in the beginning of the year have forced the World Bank to cut its Philippine GDP growth forecast for 2018.

I n a Ph i l ip pi ne E conom ic Update (PEU) briefing on Thursday, World Bank officials predicted that Philippine GDP growth will only reach 6.5 percent this year, a 0.2-percentage-point reduction from its 6.7-percent forecast in April.

The World Bank said the economy’s projected growth may also not reach the government’s targets in 2019 and 2020, when GDP could only reach 6.7 percent and 6.6 percent, respectively. The govern-

PESO EXCHANGE RATES n US 54.2260

[The Philippines] has large foreign reserves, flexible exchange rate, low public debt and robust remittance inflows.

At this juncture, preserving the country’s resilience rests in large part on preventing the current-account deficit from widening too much and too fast.”—Birgit Hansl ment’s GDP target growth is 7 to 8 percent until 2022.

“In the first half of the year, the growth rate was lower than what we forecasted before,” World Bank Senior Economist Rong Qian said.

“Higher inflation is a downside risk, we recognize that.”

However, Qian said growth is

Legislation in aid of election?

Dr. Jesus Lim Arranza

Make Sense

A

S chairman of the Federation of Philippine Industries (FPI), I am perplexed, if not amused, of the bicameral conference committee vote approving the bill that seeks to extend the maternity leave on both the government and private sector to 105 days, plus another 15 days for solo working mothers, from the current 60-day maternity leave.

While some women’s groups are already rejoicing over the bicameral vote, I am, however, confused if the members of the bicameral committee from both the Senate and House of Representatives undertook comprehensive consultations with employers on this regard, and deliberated extensively the impact of the bill on the country’s business sector.

Continued on A6

See “Lawmakers,” A2

INFLATION, ANEMIC PERFORMANCE PROMPT WORLD BANK TO CUT PHL GROWTH FORECAST

expected to recover in the second semester of the year until early 2019. This will largely be due to the increase in infrastructure spending and early election spending.

Qian also said the Philippines may be “resilient to inflation” since GDP growth was still around See “World Bank,” A2

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$80 a barrel The global oil price at which the TRAIN law allows the possible suspension of higher excise tax on petroleum products.

The provision can only be suspended if Dubai crude prices average at least $80 per barrel for three consecutive months

2016 EJAP JOURNALISM AWARDS

Voyager inks $175-M deal with Tencent, KKR investment firm

By Lorenz S. Marasigan

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@lorenzmarasigan

ENCENT Holdings Inc., the operator of Chinese super app WeChat, and Kohlberg Kravis Roberts & Co. (KKR), a global investment firm based in New York, have signed a share purchase agreement with Voyager Innovations Inc. for them to take a “substantial minority stake” in the latter for $175 million—the largest foreign investment to date in a Filipino tech company.

With the fresh capital, Voyager can further scale up its digital services—particularly in digital finance—

in the Philippines, an initiative which company president Orlando B. Vea said would trigger an “inflection point in digital adoption and financial inclusion.”

The two investors subscribed to newly issued shares. The transaction is expected to be closed sometime this quarter.

Under the agreement, the two companies will together hold a substantial minority stake in the Filipino tech company, while PLDT Inc. will remain the majority shareholder. The announcement did not include how many shares were purchased.

n JAPAN 0.4734 n UK 70.1793 n HK 6.9187 n CHINA 7.8714 n SINGAPORE 39.3084 n AUSTRALIA 38.5113 n EU 62.2514 n SAUDI ARABIA 14.4603

See “Voyager,” A6

Source: BSP (4 October 2018 )

News

BusinessMirror

A2 Friday, October 5, 2018

House okays ₧3.757-trillion 2019 budget on 2nd reading

D

By Cai U. Ordinario

@cuo_bm

ETERMINED to avert a scenario of a reenacted budget despite initial debates between Congress and the Executive over the latter’s shift to cash-based budgeting, the House of Representatives approved on second reading the P3.757-trillion proposed outlay for 2019.

On Wednesday night, the House approved via viva voce voting House Bill (HB) 8169, or the Fiscal Year 2019 General Appropriations Bill (GAB).

Speaker Gloria Macapagal-Arroyo has been closely following the progress of HB 8169 to ensure the House remains on track with its schedule to pass it on final reading before the October 12 congressional recess.

On Monday night, she and other House members stayed until the interpellations on the defense department’s budget were terminated at 6 a.m. of Tuesday.

Meanwhile, on Wednesday, Majority Floor Leader Rolando G. Andaya Jr. said, pursuant to parlia-

World Bank. . .

mentary precedents, he proposed the creation of a small committee to receive and resolve amendments to HB 8169.

The small committee is composed of Committee on Appropriations Senior Vice Chairperson Maria Carmen Zamora and Reps.

Federico Sandoval II and Corazon Nunez-Malanyaon; for the Committee on Rules, Andaya; and minority members led by Minority Leader Danilo E. Suarez and Reps.

A nthony M. Bravo and Edcel C. Lagman.

The small committee will resolve the proposed amendments to the national budget, which are due to be submitted on October 9.

For one, Arroyo said there

Continued from A1

6.3 percent in the first semester despite the increase in commodity prices. Birgit Hansl, World Bank lead economist for Brunei, Malaysia, the Philippines and Thailand, also said the infrastructure spending and election spending will “balance out” the ill effects of inflation, even if it will continue to increase.

“The Philippines is fairly resilient against capital outflows compared to many of its neighbors in the East Asia region,” Hansl said. “It has large foreign reserves, flexible exchangerate, low public debt and robust remittance inflows. At this juncture, preserving the country’s resilience rests in large part on preventing the current-account deficit from widening too much and too fast.”

According to the PEU, priority policy areas that the country needs to focus on in the long term include improving market competition through regulatory reforms, improving trade and investment climate policies and regulations, and reducing labor market rigidities and costs.

In addition, reforms that boost domestic growth and reduce vulnerabilities of the country’s farming and fisheries sector will be essential to sustain high and broad-based growth.

The PEU notes that there are considerable risks to the current growth forecasts, among them increasing global uncertainty due to trade tensions between the United States and China, as well as the rising interest rates in the United States. This could raise external financing cost and further weaken the peso.

“To manage these risks, maintaining strong macroeconomic fundamentals is key. At the same time, accelerating structural reforms to improve investments in physical infrastructure and make better use of capital, labor and technology to increase productivity remains a very important agenda for the Philippines,” said Mara K. Warwick, World Bank Country director for Brunei, Malaysia, the Philippines and Thailand. “In the long term, sustaining high productivity growth is critical for the country to become a prosperous society free of poverty.”

The World Bank said growth in developing East Asia and Pacific (EAP) is expected to be 6.3 percent in 2018, lower than in 2017 due to the continued moderation in China’s growth as its economy continues to rebalance.

“Navigating Uncertainty,” the October 2018 edition of the World Bank East Asia and Pacific Economic Update released in Manila on Thursday, underscored the risks the region faced.

In recent months, these risks include a combination of trade tensions, higher US interest rates, a stronger US dollar and financial market volatility in many emerging economies that has increased the uncertainty around the region’s growth outlook. At the same time, inf lation has begun to rise across the region, particularly in Myanmar, the Philippines and Vietnam. Growth in developing EAP, excluding China, is expected to remain stable at 5.3 percent from 2018 to 2020, driven primarily by domestic demand.

In Thailand and Vietnam, growth is expected to be robust in 2018 before slowing in 2019 and 2020 as stronger domestic demand only partially offsets the moderation in net export growth.

Indonesia’s growth should be stable, thanks to improved prospects for investment and private consumption. In Malaysia growth is expected to ease, as export growth slows, and public investment is lower following the cancelation of two major infrastructure projects. Cai U. Ordinario

₧659.3B

The education sector’s budget for 2019, higher by P72.2 billion, or by 12.3 percent, over its 2018 budget of P587.1 billion is a need to increase the budget of the Department of Agriculture (DA) from the proposed P76.1 billion.

“There's a need to] increase the budget for agriculture. [When I was president] it was 6 percent [of the total budget], currently it's at 1.5 [percent]. This is not the fault of the present administration. After my administration the DA budget was cut," Arroyo said.

For 2019, the education sector will get the lion’s share of the national budget at P659.3 billion, higher by P72.2-billion, or by 12.3 percent, over its 2018 budget of P587.1 billion.

Of the proposed appropriations of P659.3 billion for the education sector, P528.8 billion will be allocated to the Department of Education; P65.2 billion will go to state universities and Colleges; P50.5 billion to the Commission on Higher Education; and P14.8 billion to the

Lawmakers. . .

Continued from A1

Senate President Vicente C. Sotto III did not rule out the possibility that senators will back the PCCI’s plea. “Maybe, but we will review it first,” Sotto told the BusinessMirror on Thursday.

Senator Sherwin T. Gatchalian, Energy Committee chairman, confirmed that “members of the Committee will review it,” referring to the scheduled imposition of the higher coal tax in 2019. The TRAIN law, which took effect on January 1, imposed sequential increases on fuel excise taxes and the coal tax. It has been widely blamed for largely fueling the record inflation from which most sectors are now reeling. “[But] we are still studying it,” Gatchalian said in a text message to the BusinessMirror, referring to the review of the coal tax that PCCI sought.

Asked by the BusinessMirror if he was amenable to the PCCI proposal to defer the next round hike in coal tax to blunt the power rate surge and avert a domino effect on all economic sectors, Gatchalian declared he was “against that from the beginning.”

“It is useless,” Gatchalian added of the tax that public interest groups had pushed for environmental reasons. Gatchalian noted that even after the tax was mandated by the TRAIN law, there were more coal plants and yet the price of power increased.

He explained that deferring implementation of the 2019 phase of the coal tax as scheduled by law can only be done “by law,” meaning, by remedial legislation.

Fuel, too THIS developed as the senators’ counterparts in the House of Representatives also moved to repeal fuel excise taxes on diesel and kerosene imposed in the TRAIN law.

Surigao del Norte Rep. Robert Ace S. Barbers on Thursday filed a bill repealing Section 43 of Republic Act 10963 or the TRAIN law.

Edcel C. Lagman of the First District of Albay urged the House leadership to approve Joint Resolution 27, which seeks to suspend the increase in the excise taxes on fuel. It was filed on September 10, 2018, by Lagman and members of the Magnificent 7, Makabayan Group and People’s Minority.

House Bill 8369 filed by Barbers states that excise taxes on fuel under the TRAIN law will be reverted to the old National Internal Revenue Code rates of excise tax on fuel.

Barbers said the burden of the higher excise taxes on fuel still falls heavily on the shoulders of minimum-wage earners. Lagman said the high excise taxes compound the already high fuel costs, which already breached the $80 per barrel mark.

Section 82 of the TRAIN Act seeks to mitigate the effects of the law by providing unconditional cash-transfers, fuel vouchers to qualified publicutility vehicles franchise holders, fare discount, reduced price of National Food Authority rice, and free skills training.

Barbers said, however, that Filipinos could continue to suffer from high commodity prices,

Technical Education and Skills Development Authority.

T he Department of Public Works and Highways will receive the second-highest allocation with P555.7 billion, which represents an increase of 25.8 percent, or P113.9 billion compared to its P441.8-billion budget in 2018.

The Department of the Interior and Local Government (DILG) will receive the third-largest appropriation in 2019 with P225.6 billion. This is 30.9 percent or P53.2 billion than its 2018 funding of P172.4 billion.

The other top recipients shall be the Department of National Defense (DND), P183.4 billion; Department of Social Welfare and Development (DSWD), P173.3 billion; Department of Health (DOH), P141.2 billion—which includes P67.4 billion for the Philippine Health Insurance Corporation (PHIC); Department of Transportation (DOTr), P141.4 billion; Department of Agriculture (DA), P76.1 billion; the Judiciary with P37.3 billion; and the Autonomous Region in Muslim Mindanao (ARMM), P32.3 billion. The infrastructure program for 2019 shall receive an appropriation of P909.7 billion and is expected to fuel the administration’s “Build, Build, Build” Program.

since Section 82 of the TRAIN law first requires full implementation of the National ID system to ensure that the grants will reach the legitimate beneficiaries.

Joint Resolution 27 urged the government to exhaust all complimentary measures to confront the inflation problem by addressing other causes of inflation, among others: a disjointed agricultural policy on the timing and amount of rice imports; lack of agriculture sector support; weak peso that make imports more expensive; and weak implementation of the Responsible Parenthood and Reproductive Health Act.

PCCI’s plea THE PCCI wants the government to suspend the excise tax on fuel to allow businesses and consumers alike to cope with the rising prices of basic goods.

In a recent interview with reporters, PCCI President Maria Alegria Sibal-Limjoco said her group has relayed to Finance Undersecretary Karl Kendrick T. Chua its recommendation to suspend the petrol tax under the TRAIN law. The proposal was in response to oil prices accelerating at unprecedented levels the past weeks.

“Of course, we have informed [the Department of Finance] about the suspension, if they can suspend it probably. The recommendation of Usec.

Karl was that the suspension will be more difficult.

They are saying probably it will be better if they give subsidy to those in need,” Limjoco said.

Brent crude this week nearly breached $83 per barrel, after it went up 16 cents to $82.89 a barrel on Monday.

Likewise, pump prices of petroleum products on Tuesday rose for the eighth straight week to reflect movements in the global crude market.

Prices of gasoline increased P1 per liter, diesel P1.35 per liter and kerosene P1.10 per liter.

Still, finance officials insisted there is no need to call off excise tax on oil as imposed by the TRAIN, nor defer the next round of increase

by P2 on January 1, 2019. Under the law, the provision can only be suspended if Dubai crude prices average at least $80 per barrel for three consecutive months.

Limjoco argued the government should control what it can control, and vowed the PCCI will continue to pressure the government to suspend fuel tax. “Yes,” she replied, when sought if the group’s position stands to date, “because the increases [on gasoline prices] are just too much.”

She said the PCCI will utilize the upcoming Philippine Business Conference to echo its statement that the excise tax on oil be suspended. The PBC is the country’s largest business forum attended by both local and international business executives, government officials and economists, among others.

Like the PCCI, the Employers Confederation of the Philippines has also recommended the suspension of petrol tax to weather the cost of transport and power. In a statement in September, the group said the government should consider deferring the automatic oil-tax increases in the coming years.

www.businessmirror.com.ph

50-80 govt officials face corruption probes–PACC

By Samuel P. Medenilla @sam_medenilla

A

NOTHER 50 to 80 government officials face possible dismissal due to alleged irregularities in the performance of their duties, according to the Presidential Anti-Corruption Commission (PACC).

PACC Commissioner Greco B. Belgica said the executives are now undergoing investigation in his cluster alone.

“There could still be more from the other clusters in the PACC,” Belgica told the BusinessMirror in a ambush interview. PACC conducted on Thursday a briefing to render its first anniversary report since it was formed by Executive Order (43 in 2017.

In a press conference, PACC Chairman Dante Jimenez reported they were able to get a total 411 cases from March 2018 to September 2018.

However, only 59 of the complaints were verifiable, or had the necessary accompanying identified complainant, and supporting documents. The unverified complaints are either undergoing screening or have been forwarded to other government agencies.

The government agency with the most number of verifiable complaints was the Department of Public Works and Highways, with nine cases.

It was followed by governmentowned and/or -controlled corporations with seven cases.

The Department of Environment and Natural Resources and the Department of Finance were tied at third place with five cases each.

Coming in fourth were the Department of Agriculture, Department of Foreign Affairs, and the Department of Transportation with three cases each.

Jimenez urged the respective heads of these agencies to police their ranks

to realize President Duterte’s campaign promise of eliminating graft and corruption in the government.

“Why wait for the PACC to move?

You police your own ranks. We cannot this alone. Let us help the President,” Jimenez said.

Jimenez admitted that corrupt practices in the government are now “systemic” and may take much effort to wipe out.

“That is why I challenge Congress to change the government system because all branches of government are ridden by corruption,” Jimenez said.

At least 25 ranking government officials have been dismissed through the intervention of the PACC since it was established last year. Belgica said the dismissed public personnel include five executives with secretary to assistant secretary positions.

The remaining 20 were mid-ranking officials with positions of directors.

Among the most prominent of these forcibly resigned officials were former Justice Secretary Vitaliano Aguirre II and former Labor Undersecretary Dominador R. Say. In April Aguirre announced his resignation due to “loss of public trust” following the controversial dismissal of the case of Peter Lim, Kerwin Espinosa and other highprofile drug suspects.

“Sec.Aguirre was asked to resign because of our case,” Belgica said.

PACC also recommended the sacking of an assistant secretary at the justice department and the suspension of three prosecutors.

On that same month, Say also resigned amid corruption charges hurled against him.

“The President heard first hand the P6.8-million extortion incident which resulted in the forced resignation of Undersecretary Say,” Belgica said.

‘No truth to rumors’ Duterte rushed to hospital–Roque

By Bernadette D. Nicolas

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@BNicolasBM

HERE is “absolutely no truth” to rumors that President Duterte was brought to the hospital early Wednesday morning, Malacañang said.

Concerns on the President’s health were again raised after the President skipped an event of the Philippine Amusement and Gaming Corp. (Pagcor).

Executive Secretary Salvador Medialdea represented the President in the event instead.

But on Thursday, Palace officials took photos and video of the President at the Joint AFP-PNP Command Conference.

Presidential Spokesman Harry L. Roque Jr. also confirmed that there was supposed to be a Cabinet meeting on Wednesday but this was reset to October 8. Asked why the meeting was reset and why Duterte skipped the Pagcor event, Roque said it is because the President took the day off.

“The President’s health is fine.

The President is a lawyer. He will comply and conform with the Constitution if there is a serious health ailment, but there is none,” he said.

He added that the postponement of the Cabinet meeting was announced a day before, on Tuesday.

“I know this well because, in fact today, I have Interior Secretary [Eduardo M.] Año waiting for me. We were supposed to meet on the day of the Cabinet meeting. So, it was, yeah, it was sudden decision to move the Cabinet meeting,” he said.

Pressed further, Roque assured that he received no information that the President went to a hospital, noting that he is usually given information whenever such things happen.

“I have inquired and I have my sources and he was just at his resi-

dence here,” Roque said, referring to Bahay Pangarap.

Roque also noted that there were also a lot of people last Wednesday at the Guest House, such as Cabinet Secretary Leoncio B. Evasco Jr. Special Assistant to the President Christopher Lawrence T. Go and Communications Secretary Martin M. Andanar.

Roque said there was nothing unusual about having a lot of people there.

He also maintained that there is still no need to issue a medical bulletin on the President’s health.

According to the Constitution, the public shall be informed about the state of the President’s health in case of serious illness.

The Cabinet members in charge of national security and foreign relations and the Chief of Staff of the Armed Forces of the Philippines shall not be denied access to the President during such illness.

Last month the President revealed he underwent colonoscopy and endoscopy but stressed he is healthy.

Malacañang also dismissed these procedures as part of routine.

In August, Malacañang also debunked rumors that the President is in coma following a Facebook post

by Communist Party of the Philippines founder Jose Maria Sison.

Last July, the President was also rumored to have been rushed to the hospital the night before his third State of the Nation Address, but Palace officials said the President just underwent a regular checkup and was declared to be in good health.

While on a flight from South Korea last June, the President admitted that he threw up.

A side from migraines, the President also admitted to suffering from back problems, Barrett’s esophag us—which is a complication of gastroesophageal reflux disease—and Buerger’s disease due to heavy smoking in his younger years.

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The Nation BusinessMirror

Poll lawyer rejects DILG plan to ban ‘narcopoliticians’ in 2019 elections

By Joel R. San Juan @jrsanjuan1573

& Samuel P. Medenilla @sam_medenilla

E

LECTION lawyer Romulo Macalintal on Thursday said the plan of the Department of the Interior and Local Government (DILG) to ask the Commission on Elections (Comelec) to disqualify politicians linked to illegal-drug activities and corruption in the coming 2019 midterm polls is “unconstitutional.”

Macalintal reminded the DILG that under the Omnibus Election Code and the Local Government Code, only candidates convicted of a crime with finality are disqualified from seeking an elective post.

T he Come lec, t h rough it s spokesman, however, said the poll body could not bar candidates with suspected illegal-drugs involvement from running in the 2019 polls “for now.”

Comelec Spokesman James B. Jimenez said they are still waiting from the official recommendation of the DILG before they could decide on disqualifying the said candidates.

“No formal communication on these concerns, much less any actionable details or requests, have been made to the Comelec,” Jimenez said in a news statement.

“Prudence dictates that such formal communication be made before the Comelec comments on the matter any further,” he added.

Macalintal maintained that “to disqualify based on the said list will violate the constitutional right of a person to presumption of innocence and right to due process or opportunity to be heard in any case—be it criminal or administrative.”

He issued the statement in response to DILG Officer in Charge Secretary Eduardo M. Año’s pronouncement that his department will submit a formal recommendation to the Comelec to disqualify those in the government’s drug list and alleged corrupt individuals from seeking an elective post.

“We will submit our recommendations. If the Comelec will approve it, they will be disqualified,” Año was quoted as saying.

He said the DILG will use the existing “narco list” and the corruption reports against local officials through hot line 8888 and the presidential complaint desk in coming out with the recommendation.

Macalintal, likewise, said there were several candidates who were in prison and, yet, they were allowed to run and serve while in prison.

“In a word, the final judgment is an indispensable requisite to disqualify any candidate running for an elective office,” the election lawyer said.

Macalintal added that the Comelec should stay focused on ensuring the conduct of a peaceful and honest election and not be distracted by such a baseless request.

“It will be a waste of time for the DILG to ask the Comelec to disqualify candidates in the 2019 elections based merely on an alleged list of persons allegedly involved in illegal drugs,” he added.

The DILG disclosed that since July 2016, around 300 local officials were either suspended or dismissed due to corruption allegations.

On the other hand, the government’s narco list identified at least 93 local officials holding posts in the Sangguniang Bayan up to vice gubernatorial posts.

PHL, South Korea firms ink arms manufacturing tie-up

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HE largest Korean arms maker has partnered with the Philippines’s top rifle manufacturer United Defense Manufacturing Corp. (UDMC) as part of the strengthened South Korea-Philippines defense cooperation.

S&T Motiv, a 45-year-old Korean major firearms manufacturer, and UDMC have recently signed a joint venture agreement signifying mutual partnership and cooperation between the Philippines and South Korea.

UDMC Chairman and Chief Executive Officer Gene Cariño said the objective of the deal is to produce for the Philippine military and police force arms that are of “high quality, accuracy and pricecompetitiveness with the vision of eventually expanding to other markets in the long term.”

“The joint venture agreement demonstrates both our countries’ close mutual cooperation to support the government-level discussions on increasing the bilateral cooperation in the field of defense industry,” Cariño said in a news statement.

The Korean Ministry of National Defense and S&T Motiv have presented their line of defense technology products to President Duterte during his official visit to South Korea in June.

S&T Motiv is a 45-year-old Korean major firearms manufacturer recognized for its competitiveness in the global market by exporting various firearms to more than 30 countries, including Europe, the Middle East and Southeast Asia.

“This is truly a beneficial partnership as S&T’s expertise integrated with UDMC’s significant research and development will substantiate the need for increased weapons capability of the Philippines,” Kijoon Yu, president and CEO of S&T Motiv Co., said.

Both UDMC and S&T Motiv have joined some 200 local and international “exhibitors” in the “Asian Defense, Security & Crisis Management Exhibition and Conference 2018” (ADAS 2018) held from September 26 to 28 at the World Trade Center in Pasay City. PNA

Zambo BOC officials suspended over 23K sacks of ‘missing’ rice

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By Bernadette D. Nicolas

T

@ReaCuBM

HE Bureau of Customs (BOC) and the Port of Ninoy Aquino International Airport (Naia) on Thursday turned over more than P15.4 million worth of illegal drugs to the Philippine Drug Enforcement Agency (PDEA) in line with the bureau’s drive to stop all forms of smuggling in all ports in the country.

Customs Commissioner Isidro S. Lapeña and Port of Naia District Collector Carmelita Talusan turned over the seized illegal drugs worth an estimated P15.4 million to the PDEA.

“The interception of the seized illegal drugs would not be made possible without the profiling skills of customs examiners, the Customs Anti-Illegal Drug Task Force, BOC-Naia, X-ray Inspection Project and the PDEA,” Lapeña said.

The seized illegal drugs include over 2.21 kilograms of methamphetamine hydrochloride or shabu, as well as 48 oil ampules and 12 pieces of small plastic container with jelly marmalade containing cannabis or marijuana content.

Several boxes of valium and mogadon were also seized by the BOC at the port of Naia. The drugs were concealed

@BNicolasBM

WO Customs officials have been placed under preventive suspension over the “disappearance” of 23,000 sacks of smuggled rice in Zamboanga City, Malacañang said.

Presidential Spokesman Harry L. Roque Jr. said in a briefing on Thursday that a “visibly upset” President ordered an investigation on the “missing smuggled rice.”

“Well, the President was mad because how do you lose 23,000 sacks? I mean it’s incredible. Obvi-

ously, it cannot be done in a clandestine manner,” Roque said. “It is very infuriating that this large volume of sacks of apprehended smuggled rice went missing.”

T he Pa l ace announcement comes amid a prevailing rice crisis in Zamboanga that raised the

prices of the staple.

“The Executive Secretary asked me to tell…that the President has ordered an immediate and thorough investigation of this incident and that instructions were given for both the National Food Authority officer in charge and Customs commissioner to immediately place on preventive suspension individuals who may be part of the scheme,” Roque said.

Although 16,000 sacks of rice had already been recovered in different warehouses, Roque added that Customs Commissioner Isidro S. Lapeña ordered the suspension of Zamboanga District Collector Lyceo Martinez and Customs Police District Commander Filomeno Salazar.

But Roque said the suspension of these individuals from Cus-

toms does not necessarily prove their involvement but they were suspended for the purpose of ensuring that they cannot tamper the evidence and that they cannot influence the investigation.

“More or less, we are still looking for half of the volume that went missing,” Roque said in Filipino.

On the part of NFA, Roque said there was still no update on the measures that they have taken.

Asked if the government thinks that the NFA and Customs are colluding in this scheme, he said: “Investigation is ongoing but I think it’s obvious that, because both agencies had some jurisdiction over the apprehended smuggled rice, officials of Customs and NFA probably have a liability for this.”

Migrante Intl launches online petition vs party-list congressman

A

MIGR A NT advocate group on Thursday filed a n et hics compl a int against ACTS OFW Party-list Rep. Aniceto “John” D. Bertiz III at the House of Representatives for his alleged maltreatment of the lawmaker’s constituents.

In a news statement, Migrante International consolidated the testimony of two overseas Filipino workers (OFWs)—Shiela Mabunga and Emmanuel Villanueva—in the complaint it submitted before the House Committee on Ethics on Thursday.

Mabunga is a cook allegedly deployed by Bertiz’s recruitment agency, Global Asia Alliance Consultants Inc. (GA ACI), to Dubai in 2014.

In her testimony, she said GAACI illegally deployed her to a different employer not stipulated in her employment contract, where she allegedly suffered maltreatment.

When she sought repatriation from the Philippine Overseas Employment Administration (POEA), she said she was approached by Bertiz on behalf of GAACI. Mabunga said she complied with Bertiz’s request to prolong her stay in exchange for filing charges against her employer in Dubai and being given assistance for her college education.

She said Bertiz did not honor his commitment, prompting her to file a case against the lawmaker and GAACI at the POEA and the National Labor Relations Commission (NLRC).

Meanwhile, Villanueva filed the complaint against Bertiz for their “intense confrontation” in January 2017 in Hong Kong during a consultation being conducted by the Department of Labor and Employment (DOLE).

Villanueva said Bertiz yelled at him and accused him of being an undocumented OFW when he called the attention of the lawmaker for

Customs and Naia authorities turn over seized illegal drugs to PDEA

By Rea Cu

Editor: Vittorio V. Vitug • Friday, October 5, 2018 A3

in five packages that arrived at the Central Mail Exchange Center and FedEx warehouse in separate dates.

According to the BOC, the seized shabu is estimated to have a street value of P14 million, while the valium and mogadon tablets around P1.496 million. The value of the marijuana is yet to be determined.

The illegal drugs were reported to have come from Thailand, the US, Africa and Pakistan, which were hidden in packages filled with foot and calf massager, religious frame, letter, boxing gloves and baseball jersey, and clothes.

taking too much of their time during the meeting.

Also included in the formal complaint against Bertiz is his involvement in a botched rescue mission in Kuwait, which resulted to a diplomatic row with the Philippines; “relentless justification” of the overseas employment certificate and the OFW ID; and his “conflict

of interest” of representing OFWs in Congress while still owning a recruitment agency.

“Because of this, Rep. Aniceto ‘John’ D. Bertiz III has no moral authority to represent us in Congress,” the petition said.

Bertiz has has been drawing criticisms since the previous week when he made a controversial joke at an

oath-taking ceremony.

This continued this week when a viral video showed him violating airport security protocol, and his sexist remark when he apologized for the said incident.

These incidents prompted Migrante Hong Kong to launch an online petition against Bertiz at change.org. Samuel P. Medenilla

Economy BusinessMirror

A4 Friday, October 5, 2018 • Editor: Vittorio V. Vitug

WB urges East Asia, Pacific areas to defend prevailing trade system

By Cai U. Ordinario

@cuo_bm

A

MONTH before the Asean leaders’ summit, the World Bank called on the East Asia and the Pacific (EAP) region to defend the prevailing rules-based system of trade.

In a briefing on Thursday, Sudhir Shetty, World Bank chief economist for the East Asia and Pacific region, said regional agreements— such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership—will be crucial in defending an open trading system and deepening international trade.

Shetty said Asean economies, in particular, will play a key role in deepening trade by removing nontariff barriers (NTBs), as well as increasing

and improving trade in services.

“The countries in this region should defend the global rules-based trade and investment. The reason for that is the region has benefited a lot from openness, but also from openness being valued that if there are disputes, there are dispute resolution mechanisms [available]. They are not resolved by tit- for-tat tariffs or other barriers of trade,” Shetty said. “[The region should take] a larger leadership role in preserving this global system, this global rules-based system for trade that I think is an important thing this region can do in various fora,” he added.

Shetty said the region can do this because the countries in the EAP region have “sufficient economic” muscle. He said even without China, the average GDP growth of the EAP remains respectable at

above 5 percent.

The region can begin the process by fighting protectionism, which can lead to a vicious cycle that will undermine regional economic growth.

“That really is testimony to the vitality of this region, to the strength of the economies, not just China, but also the large Asean economies and also the high-income economies that are part of this region that we don’t cover in this report, but nevertheless are important economic actors in this region,” Shetty said.

The EAP report, titled “Navigating Uncertainty, the October 2018 edition of the World Bank East Asia and Pacific Economic Update,” points to a four-pronged approach for countries in developing East Asia to address emerging risks.

These approaches include redoubling its commitment to an open,

rules-based international trade and investment system, including through deeper regional economic integration.

The World Bank said regional economies could gain by deepening existing preferential trade agreements and lowering NTBs. A further escalation of trade tensions could be avoided by turning to bilateral negotiations or the World Trade Organization.

The Washington-based lender also said there is a need to deepen structural reforms, including liberalizing key sectors, improving the business climate and boosting competitiveness.

Leveling the playing field between small and medium enterprises and large firms, and between foreign and domestic firms, could also help reduce resource misallocation and create jobs.

CAB issues app on air passengers’ bill of rights

By Lorenz S. Marasigan @lorenzmarasigan

A

IRLINES operating in the Philippines will no longer have an excuse to be remiss in their obligations to passengers, as the Civil Aeronautics Board (CAB) launched on Thursday its air passenger bill of rights mobile app, an interactive platform that gives passengers an easy access to a copy of their rights as air passengers.

Wyrlou E. Samodio, who heads the legal division of the air-services regulator, said the app will help the flying public whenever they demand for compensation during delays or flight cancellations.

“Developed and powered by Dynamic Outsource Solutions Inc., this mobile application is intended to apprise users, particularly air passengers, of their basic rights and provides for the minimum entitlements in cases of flight delays and cancellations,” he said in

a mobile-phone reply.

The app, named APBR, is initially available for Android users.

“We launched the app to reach more people. With the APBR in their hands—in their cell phones—they will be guided and informed of their rights or entitlements. Airlines will no longer have a reason to ignore or be remiss of their obligations to passengers,” Samodio said.

The app was launched in celebration of the 71st anniversary of the regulator.

Aside from the passenger bill of rights, the app allows users to connect directly to a chat box. It also lists contact numbers of the rights bureau of the regulator.

“The app is part of CAB’s campaign to intensify its information drive about the APBR. It seeks to increase awareness and education of passengers and other concerned stakeholders of the rights and obligations enshrined in the APBR through technology and innovation,” Samodio said.

www.businessmirror.com.ph

PSALM in talks with DBP to assess site of Malaya thermal power plant

By Lenie Lectura

@llectura

T

HE Power Sector Assets and Liabilities Management Corp. (PSALM) is in talks with the Development Bank of the Philippines (DBP) to assess the site of the 650-megawatt (MW) Malaya Thermal Power Plant (MTPP).

“We are still in talks with several groups. We have not yet finalized that. We might procure the services of government financial institutions like DBP. We are considering them. Alternatively, we have a budget for third-party valuation. We can bid it out, as well,” PSALM President Irene Joy Garcia said.

The state firm earlier announced it would engage the services of a third-party valuation firm to assess the power plant.

Garcia said PSALM is hoping to privatize the MTTP in December this year or January 2019.

“We have to complete valuation first. Once we are able to set the timetable for the valuation, the dates will be coincided for the bidding. In terms of timetable, costing plus expertise, DBP can put a value to it,” she said.

The MTPP will be privatized on “as-is, where-is” basis, including the land, in a bid to optimize the value of the power facility.

Located in Pililia, Rizal, the Malaya plant consists of a 300MW unit with a once-through type

boiler and a 350-MW unit fitted with a conventional boiler.

The MTPP was earlier designated as a must-run unit by the Department of Energy (DOE) in 2014. As an MRU, it is compelled to run and provide the needed power supply as deemed necessary in order to ensure reliability of power supply in the Luzon grid, particularly in times of supply shortfall, system security and voltage support.

Now, Garcia said, “the DOE gave its direction to allow the privatization without that requirement so there’s no more three-year must-run period.”

“We were looking at the general condition of the plant and the value, and the supply and demand. We are looking at all these factors and we figured it might not be very attractive to bidders if you impose that requirement that they have to run for three years,” Garcia said.

PSALM said the other day that Soosan ENS Co. Ltd. of Korea is the lone bidder for the one-year operation and maintenance service contract for MTPP after Soosan ENS submitted a bid offer of P208.74 million.

The bid offer is within the approved budget for the contract amounting P213 million.

Soosan ENS needs to undergo postqualification evaluation before the contract can be awarded.

The OMSC contract is good for one year.

Global oil prices to decide oil excise tax suspension

A

GIANT CHRISTMAS TREE IN THE MAKING

A worker hangs colorful Christmas balls and lights on the giant Christmas tree that usually adorns the façade of the Smart-Araneta Center in Cubao, Quezon City. It will take a few more weeks for the tree to be fully adorned, ready for lighting by the middle of November. NONOY LACZA

MWSS strengthens ties with Asia Water Council, K-Water

By Jonathan L. Mayuga @jonlmayuga

T

O improve Metro Manila’s overall water security and wastewater management systems, the Metropolitan Waterworks and Sewerage System (MWSS) recently strengthened ties with the Asia Water Council (AWC) and K-Water.

Officials of AWC and K-Water, led by its President Hak-soo Lee, and the MWSS met the other day where MWSS Administrator Reynaldo V. Velasco officially welcomed Lee with a briefing and exchanges of notes along with top MWSS officials, Manila Water President Ferdinand M. de la Cruz, Maynilad President Ramoncito S. Fernandez and officials of Bulacan Bulk Water and Angat Hydro Power.

K-Water is an affiliate of San Miguel Corp. (SMC).

“We thank K-Water through Dr. Lee for helping the MWSS in strengthening and retrofitting Angat Dam as part of their commitment with SMC in oper-

ating Transmissions 1 and 2 turbines, which are crucial to the government’s water security program, particularly on the possible occurrence of the ‘Big One’ with Angat Dam supplying 96 percent of the water requirement of Metro Manila and nearby provinces,” Velasco said in a statement.

“We are honored to be partners with the MWSS and we look forward to future joint projects, including the setting up of an MWSS-AWC-K-Water Institute/ Academy to serve the Philippine water industry,” said Lee, who added that KWater runs an academy whose roster of alumni included Manila Water President Ferdinand de la Cruz.

Lee’s visit comes on the heels of the signing of a memorandum of understanding (MOU) with Velasco and other select officers and members of the AWC at the Seventh AWC BOC in Daejoon City, South Korea, last September.

The AWC consists of more than 100 members, organizations representing more than 26 countries worldwide.

The MWSS administrator, who also

serves as AWC director, said the AWCinitiated MOU will afford the MWSS and the Philippines to cooperate and to promote the water industry and resolve problems in Asia through the conduct of joint research; sharing Test-beds owned by the respective agencies and supporting their operation; supporting the promotion and AWC and their products; and providing other cooperative support and needed assistance.

Velasco formed an organizing committee for the hosting of the AWC General Assembly, Eighth Board of Council Meeting and General Elections to be cohosted by the MWSS, Manila Water, Maynilad and Luzon Clean Water from March 14 to 16, 2019.

Among those named to the committee were MWSS Deputy Administrator Virgilio Moro Lazo; Susanne Sta. Maria, Jeric Sevilla and Noel Abesamis of Manila Water; Annette H. de Ocampo and Francisco Arellano of Maynilad; Edgar Dona, German Avengoza and Archibald Macababad of SMC; and MWSS consultant Melandrew T. Velasco.

SUSPENSION of excise tax increases levied on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) law is possible next year, but only if global crude prices average $80 per barrel in the last quarter of 2018.

This was stressed by Department of Finance (DOF) Undersecretary Karl Kendrick T. Chua on Thursday, in response to clamors for the government to suspend the implementation of higher oil excise tax rates given the continued increases in domestic oil prices.

Reports indicate that as of Wednesday, oil prices in the international market has already risen to $86 per barrel. Oil market analysts predict that it may further rise to $100 per barrel before year-end, if geo-political tensions in the Middle East do not abate.

He explained that if prices of oil in the international market average $80 per barrel in the next three months, there is a possibility that the second tranche of excise tax hike for this commodity will be suspended. “[It] will be suspended [but] we’ll see if its averaging $80 [per barrel] in the next three months,” he said.

Under the TRAIN law, which took effect at the start of this year, excise tax on diesel will be P2.50 per liter in 2018 and will increase to P4.50 per liter in 2019, and finally P6 per liter in 2020.

Excise tax on gasoline was increased to P7 per liter this year from P4.35 per liter previously. For 2019 and 2020, the rates will be at P9 per liter and P10 per liter, respectively.

Government officials have repeatedly pointed out that the main reason for the continued uptick in local pump prices is the sustained increase in world crude prices and not because of TRAIN. The soaring price of oil is also mostly to blame for pushing the inflation rate beyond the government’s two to four percent target until 2020, they said. PNA

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

The World BusinessMirror

Friday, October 5, 2018

A5

US terminates 1955 treaty with Iran after UN court ruling

W

ASHINGTON— In response to a United Nations court order that the United States lift sanctions on Iran, the Trump administration said on Wednesday that it was terminating a decades-old treaty affirming friendly relations between the two countries.

The largely symbolic gesture highlights deteriorating relations between Washington and Tehran.

Secretary of State Mike Pompeo said withdrawing from the 1955 Treaty of Amity was long overdue and followed Iran “groundlessly” bringing a complaint with the International Court of Justice (ICJ) challenging US sanctions on the basis that they were a violation of the pact.

Meanwhile, national security adviser John Bolton said the administration also was pulling out of an amendment to the Vienna Convention on Diplomatic Relations that Iran or others, notably the Palestinians, could use to sue the US at The Hague-based tribunal.

Bolton told reporters at the White House that the provision violates US sovereignty.

“The United States will not sit idly by as baseless politicized claims are brought against us,” Bolton said. He cited a case brought to the court by the “so-called state of Palestine” challenging the move of the US Embassy in Israel from Tel Aviv to Jerusalem as the main reason for withdrawing.

Bolton, who last month unleashed a torrent of criticism against the International Criminal Court, noted that previous Republican administrations had pulled out of various international agreements and bodies over “politicized cases.” He said the administration would review

all accords that might subject the US to prosecution by international courts or panels.

Earlier, Pompeo denounced the Iranian case before the UN court as “meritless” and said the Treaty of Amity was meaningless and absurd.

“The Iranians have been ignoring it for an awfully long time, we ought to have pulled out of it decades ago,” he told reporters at the State Department.

The little-known treaty with Iran was among numerous such ones signed in the wake of World War II as the Truman and Eisenhower administrations tried to assemble a coalition of nations to counter the Soviet Union. Like many of the treaties, this one was aimed at encouraging closer economic relations and regulating diplomatic and consular ties.

Its first article reads: “There shall be firm and enduring peace and sincere friendship between the United States of America and Iran.”

The treaty survived the 1979 overthrow of the Shah in Iran’s Islamic revolution and the subsequent hostage crisis that crippled American-Iranian relations for decades.

But amid a broader push to assert US sovereignty in the international arena and after pulling out of the Iran nuclear deal this year, the administration determined that the court case made the treaty irrelevant.

Pompeo said the ruling was a “useful point for us to demonstrate the absolute absurdity” of the treaty.

The court case is legally binding, but Pompeo said the administration would proceed with sanctions enforcement with existing exceptions

Key battle in Yemen’s war risks spurring country into famine

B

AJIL, Yemen —With American backing, the United Arab Emirates (UAE) has resumed an all-out offensive aimed at capturing Yemen’s most vital port, Hodeida, where Shiite rebels are digging in to fight to the last man. Thousands of civilians are caught in the middle, trapped by minefields and barrages of mortars and airstrikes.

If the array of Yemeni militias backed by the UAE takes the city, it would be their biggest victory against the rebels, known as Houthis, after a long stalemate in the threeyear-old civil war. But the battle on the Red Sea coast also threatens to throw Yemen into outright famine.

Hodeida’s port literally keeps millions of starving Yemenis alive, as the entry point for 70 percent of food imports and international aid. More than 8 million of Yemen’s nearly 29 million people have no food other than what is provided by world relief agencies, a figure that continues to rapidly rise.

A protracted siege could cut off that lifeline. The battle has already killed hundreds of civilians and forced hundreds of thousands to flee their homes, adding to the more than 2 million Yemenis displaced by the war. Amid the fighting, cholera cases in the area leaped from 497 in June to 1,347 in August, Save the Children reported on Tuesday.

The assault first began in June, then paused in August as the United Nations envoy for Yemen tried to cobble together peace talks, the first in two years. That attempt fell apart, and the offensive resumed in mid-September.

The United States effectively gave a green light to push ahead when Secretary of State Mike Pompeo on September 12 certified continued American support for the Saudi-led coalition’s air campaign against the Houthis.

The coalition has come under heavy criticism for its relentless air strikes since 2015, which UN experts say have caused the majority of the estimated 10,000 civilian deaths in the conflict and could constitute a war crime. Several strikes in August killed dozens of children.

Pompeo declared that Saudi Arabia and the UAE were taking adequate measures to minimize civilian deaths. The US supports the coalition with intelligence and air-to-air refueling for its warplanes, as well as with billions of dollars in arms sales to Saudi Arabia.

Saudi Arabia and the UAE—as well as the US—say their campaign aims to restore the recognized government of President Abed Rabbo Mansour Hadi and thwart what they contend is an attempt by Iran to seize control in Yemen through the rebels. Iran denies that the Houthis are its proxy.

But the resulting war has pushed Yemen into the world’s worst humanitarian disaster, fragmentation and chaos.

The stakes

A COALITION victory at Hodeida would be the first breakthrough after more than two years of deadlock.

After the Houthis took over the capital, Sanaa, and surged south in early-2015, the coalition launched its campaign, pushing them back. Since then, front lines have hardly moved, with the Houthis firmly in control of the north. The notable exception has been on the Red Sea coast, where since December, UAEbacked forces have battled their way toward Hodeida. The UAE says taking the port will force the Houthis to the negotiating table.

Hodeida’s fall would cost the rebels a major source of income, since they heavily tax commodities and aid coming from the port.

That cash has helped them finance their fight and the iron fist they wield in their territory.

But if the Houthis won’t negotiate, the coalition faces an even tougher fight into the rebel-held north.

It took two years for the coalition to reach Hodeida, so “how many months or years will it take for this same collection of—often competing and opposed—militias to make their way through Yemen’s mountains toward the capital of Sanaa?” said Michael Horton, a fellow at the Jamestown Foundation. AP

for humanitarian and flight safety transactions.

“The United States has been actively engaged on these issues without regard to any proceeding before the ICJ,” he said. At the same time, he criticized the ruling.

“We’re disappointed that the court failed to recognize that it has no jurisdiction to issue any order relating to these sanctions measures with the United States.”

The ruling said Washington must “remove, by means of its choosing, any impediments arising from” the reimposition of sanctions to the export to Iran of medicine and medical devices, food and agricultural commodities and spare parts and equipment necessary to ensure the safety of civil aviation. It said the exceptions mentioned by Pompeo “are not adequate to address fully the humanitarian and safety concerns” raised by Iran.

The first set of sanctions that had been eased under the terms of the nuclear deal negotiated by the Obama administration was reimposed in August. A second, more sweeping set of sanctions, is set to be reimposed in earlyNovember.

Iran’s foreign minister, Mohammad Javad Zarif, praised the court ruling, saying on Twitter that it was “another failure for sanctions-addicted” US and a “victory for rule of law.” He said it was imperative for other countries ‘to collectively counter malign US unilateralism,” and he accused the United States of being an “outlaw regime.”

The court said the case will continue and the US can still challenge its jurisdiction, but no date has been set for further hearings. AP

China’s role in funding coal draws scrutiny as climate concern grows

C

HINA’S leading role in financing a wave of new coal plants across Asia is drawing fresh scrutiny as the world’s top climate scientists weigh calling for much deeper cuts in emissions.

China, India, Japan and the Philippines rank among the biggest investors in the 1,380 coal plants under construction or development worldwide, according to a study by the German pressure group Urgewald released Thursday.

The findings add to evidence t hat A sian companies, of ten backed by ta x payer money, are stepping up f und ing for t he technolog y blamed for globa l war ming. A panel of researchers convened by the United Nations next week w il l release its recommendations for how to l im it temperat u re increases, detailing how to meet a comm it m e nt i n t h e 2 01 5 Pa r i s Agreement where a lmost 200 countr ies agreed to slash use of fossil f uel.

“Every coal plant that goes online puts a new stumbling block between us and the Paris goals,” said Heffa Schuecking, director of Urgewald.

T he repor t highlights growing scr utiny of the coa l industr y bot h by pressure g roups and multinational institutions, most of which are work ing to rein in investment of the most pol luting f uels and to promote a lter natives. For now, China’s thirst for energ y supplies is so strong it pushed up the benchmark coa l contract to $100 a ton earlier this week, the most in five years.

Research groups like Urgewald, along with CDP and Natural Resources Defense Council, a re gat her ing d ata deta i l ing which companies have the most at stake from tighter rules on climate change. Bank of England Governor Mark Carney is leading a Task Force on Climate-Related Financial Disclosures, prodding companies themselves to make transparent the risks they face from environmental rules.

T hose ef for ts spr ung up a longside work on t he Pa r is

climate agreement, a pact in 2015 where gover nments ever y where for t he f i rst t i me pledged to l im it g reen house gases. Wit h globa l carbon emissions from fossil f uels at a re cord , p ol ic y - m a k e r s a re study ing how to ma ke quicker reductions and zeroing in on coa l as their first target.

Utilities by 2030 would have to consume just a third of the coal they burn now to hold global warming since the start of the industrial era to 1.5 degrees Celsius (2.7 degrees Fahrenheit), according to a draft of a report by the UN’s Intergovernmental Panel on Climate Change (IPCC).

That group of hundreds of top researchers is due to release a report on October 8 in South Korea calling for a massive reduction in burning coal.

Coal currently feeds about 27 percent of the world ’s energy demand. That proportion is likely to drop to about 22 percent in 2040 as governments move toward cleaner energy policy, according to the IEA, the Parisbased institution that advises gover nments on energ y. T he IPCC was considering a call for coal to supply no more than 7 percent by 2050.

Yet, taxpayer funding for new coal plants is growing, according to a report earlier this year

by Natural Resources Defense Council (NRDC), which is based

in New York. It found governments in the Group of 20 nations extended a record $13 billion for loans, credits and guarantees backing coal plants last year.

“There’s a huge amount of coal being built with foreign support, and unfortunately the global coal build-out has been largely overlooked as a major climate risk,” said than Chen, climate advocate at NRDC. Export-credit agencies, such as the Japan Bank for International Cooperation, China Development Bank Corp. and Korea Trade Insurance Corp., were among the biggest supporters.

The three biggest destinations for those funds were Indonesia, Bangladesh and Vietnam.

In the Urgewald report, which uses d ata f rom t he pressure group CoalSwarm, many of the plants are due to be built in Asia. If they’re all installed, they would add 672 gigawatts to the global f leet of coal plants, an increase of a third, the group said.

The World Coal Association has criticized CoalSwarm’s data in the past, saying the actual number of plants being built is much more limited than the group’s data suggests. It cited the Platts World Electric Power Plant Database showing 74 gigawatts of coal plants underway in China, short of the 259 gigawatts that CoalSwarm counted.

Bloomberg News

News

BusinessMirror

A6 Friday, October 5, 2018

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China’s economic growth ‘can’t justify’ SCS expansion

A

By Recto Mercene

@rectomercene

FORMER senator, assistant defense secretary and secretary of the navy said on Thursday the Philippines and the United States must work together to resist any notion that “economic growth justifies territorial expansion,” referring to Beijing’s moves in the South China Sea (SCS).

Speaking before the Rotary Club of Manila, ex-Sen. James H. Webb Jr. said “it’s necessary to confront this kind of aggression or it will grow,” referring to last week’s harassment by Chinese warships of a US Navy vessel in the SCS. Accord ing to a Bloomberg report, the US accused China’s navy of “unsafe and unprofessional” conduct near an occupied reef in the South China Sea after a Chinese destroyer maneuvered near the bow of the USS Decatur, an Aegis-class destroyer based in San Diego.

“Territorial expansion is not a natural result of economic growth,” the highly decorated Vietnam War veteran said, adding the US has shown that over and over again since World War II, “it has been a stabilizing force out here.”

Webb said that, despite the criticisms that the US did not do much in the past to stop China’s moves in the South China Sea, which it claims in near entirety

...The Chinese had decided that if they erected tents as protective cover for Chinese fishing boats, they will justify taking control of some parts of the Spratly islands.”—Webb Jr. despite the claims by five nations including the Philippines, “it’s still the only deterrent to expansion in the region.”

Replying to a question from the audience after his talk, Webb conceded that, indeed, Washington has been criticized for seeming to have taken too long to move decisively to stop the incremental Chinese military buildup since it started setting up in the

mid-1990s so-called fishermen’s shelters that became the nucleus of a now-sprawling regime of reclaimed islands sitting alongside reefs and shoals that are within the exclusive economic zone of other countries such as the Philippines.

But, Webb stressed he was among the first to issue warnings in Washington about the apparent Chinese buildup, adding that in this, his prime Filipino counterpart was the late lawmaker and national security expert Roilo Golez, like him a graduate of the US naval academy.

Citing the long historical relations between the Philippines and the US, Webb cited the vital need “for us to continue to keep these relations in order to help our stability in this part of the world.”

“Since World War II, the most vital stabilizing factor in this part of the world has been the willingness of the US to provide that stability as a counterpoint, whatever happens to the rest of the power competition in the region,” the former senator from Virginia added.

The competition Webb was referring to is the “geographic and strategic interests of Russia, Japan and China intersecting” in East Asia, at the Korean Peninsula.

They tend to look South, meaning, the fast-growing region of Southeast Asia, where four Asean members (the Philippines, Brunei Darussalam, Vietnam and Malaysia) have claims in the SCS. “You can see it in history, over and over again, it’s a cycle of power dominance,” he noted.

He said in 1987 the Soviet Union was in the SCS. In 1997 the former USSR “was in decline and the Chi-

Legislation in aid of election?

Continued from A1

The bill, once enacted into law, would result in employers paying for the salaries of their unproductive women workers on maternity leave for at least 105 days to 120 days for solo working mothers, up by another 60 days from the current 60-day paid maternity leave of working women. The impact of this bill on the business community will definitely be profound, if not serious, as this is practically one-third of the entire number of working days in a year.

And if we factor in the total number of regular and special nonworking holidays in the country, that would even translate to barely over seven months of productive work for women workers on maternity leave, which employers will have to pay their entire 12-month salary plus the other mandatory bonuses.

Moreover, with the four months availment cap on maternity leave for working mothers under the old rules removed, the Expanded Maternity Leave Bill will run counter to the Responsible Parenthood and Reproductive Health Act, which encourages various methods of birth control to improve the Filipino family’s way of life, as this might entice some working mothers to have more children, if only to avail themselves of the expanded maternity benefits.

And who knows if there are families whose number of children would grow to unmanageable levels, leaving them practically dependent on government help at the least, or mendicants at the worst.

I am also amused at the timing of the bill’s approval by the bicameral committee, which is just seven months away from the 2019 midterm election. Is it coincidental? Is it planned ?

Or is it the call of times? This makes me wonder why bills with mass appeal, like the Expanded Maternity Leave Bill, are usually filed and approved during election years. For instance, four congressmen also filed a bill making the 14thmonth pay mandatory.

From an employer’s perspective, this could be a double whammy. Not only would employers be losing productive hours for their workers on maternity leave, but they will also continually pay the salaries of their unproductive workers on maternity leave.

Perhaps, some members of the bicameral conference committee do not understand how hard it is to run a business at these most challenging times.

And for reasons of sustainabil-

nese were on the move.”

He recalled how, during a dialogue with fellow Annapolis alumnus and his good friend Golez, the duo determined—looking at a map of the region—“how the Chinese had decided that if they erected tents as protective cover for Chinese fishing boats, they will justify taking control of some parts of the Spratly islands.”

“Over the last 20 years, you can look at the Spratlys, you can look at the Paracels at the coast of Vietnam and you can even look at the Senkaku [Diaoyu in Chinese], island between Taiwan and Okinawa and see the same pattern.”

Since 20 years ago, Webb, the author of 10 books that include six best-selling novels, notably Fields of Fire, said that China had been adopting the “salami” tactics of careful slicing of islands and moving forward.

A larmed by these developments, he said that in 2012, while he was still a member of the Senate, “China had created a new prefecture, Sansha, that reports directly to Beijing.”

He said from then on, China had claimed the SCS as “its territory, over 2 million square kilometers of the sea, [actually it’s 3 million sq km ] in the SCS all the way down to Singapore.” This claimed territory is the so-called nine-dash line, which has been declared illegal, in a historic decision, by the International Tribunal in The Hague.

He said the near-miss confrontation between a Chinese warship and an American vessel conducting freedom of navigation operations (Fonop) in international waters could be likened to international aggression.

ORLY GUIRAO WRITES ‘30’

TURTLE WALK It’s not even December yet, but the traffic congestion on Edsa apparently worsened this week after the Metropolitan

O

RLY GUIRAO, the Pangasinan-based correspondent of the BusinessMirror, passed away on September 15, 2018, at the age of 70 after a brief illness.

He is survived by his wife Evelyn and children Nalini Margarette, Christian Mari, Madelynne, Arabelle Lee, Jose Vendrick and Resonante Vendredi; sons- and daughters-in-law; grandchildren; and siblings Linda, Roque, Lito and Josie.

Orly was born on November 3, 1947, in Laoag, Ilocos Norte.

He was a correspondent for the Mosquito Press trailblazer Ang Pahayagang Malaya when it was published by the late Jose Burgos Jr. in the early-1980s. Orly also worked for several local publications and contributed news stories to several national newspapers throughout his career.

He was working on a fortnightly newspaper he called “Express Monitor” when he passed away.

His remains are interred at the Heritage Memorial Park in Taguig City.

Manila Development Authority was forced to temporarily lift the ban on provincial buses on the metropolis’s busiest highway, after the construction of terminals for them was not completed as scheduled. NONOY LACZA

Voyager. . .

Continued from A1

Voyager’s negotiations with Tencent made news earlier this year, but the talks bogged down eventually, with Manuel V. Pangilinan, who chairs both Voyager and PLDT, announcing in August that the company was in advanced negations with a group of “several private investors” for it to take a majority stake in Voyager.

Pangilinan declined to disclose the specific details of the transaction, but clarified that the amount of shares of PLDT in Voyager remained intact, adding that the shares purchased are newly issued.

Pangilinan added that the contract included a provision on the issuance of additional shares in Voyager for other investors to purchase.

The company, he added, is in talks with “two or three” other potential investors.

This, however, will reduce the Filipino telco’s ownership to less than 50 percent, while still remaining as the largest shareholder.

“Having global powerhouses such as KKR and Tencent as investors in Voyager Innovations demonstrates not only their confidence in the

company’s ability to execute its vision, but also their confidence in the Philippine technology industry as a whole,” he said.

Vea added that the new investors will enable greater access to mobile payments and the Internet as a whole for the country’s population.

“This is a watershed moment not only for Voyager Innovations but also for the Philippines. With this investment by KKR and Tencent, we will trigger an inflection point in digital adoption and financial inclusion in the country,” he said.

KKR Southeast Asia Director Terence Lee said his group’s investment furthers its investment in “payment leaders in emerging market.”

“We look forward to leveraging our industry expertise and resources to help enhance the company’s mission of financial inclusion and accelerate its growth at a time when the digital economy is more important than ever,” he said.

KKR’s investment in Voyager is the first private equity investment in the Philippines.

“Voyager Innovations connects the growing smartphone population in the Philippines to online payments and financial services. Tencent is glad to support Voyager Innovations and to advance financial inclusion,” Tencent Chief Strategy Officer James Mitchell said.

The transaction, according to Pangilinan,

is not subject to the compulsory merger notification requirement of the Philippine Competition Commission (PCC).

Bank of America Merrill Lynch acted as financial advisor to Voyager Innovations.

Voyager officials first floated the idea of taking in a foreign partner in 2017, when Pangilinan described the potential investor as a group that will help the company realize its Asian expansion dream.

What made Voyager attractive to foreign investors? Pangilinan said the answer lies in the numbers. Digital wallet PayMaya grew by more than five times during the first half of the year; small loans disbursement platform Lendr also doubled its unique customers during the said period.

Freenet, an app that allows users complimentary access to the Internet, saw unique accounts ballooning by 150 times. And financial investment arm Fintq was recognized as the Outstanding Financial Inclusion Partner at the 2018 Bangko Sentral ng Pilipinas Stakeholders Awards.

In the first six months of the year, Voyager posted a net loss of about P1.3 billion, significantly higher than the P300-million loss that it recorded last year.

NFA. . .

Continued from A1

“Not yet. We have yet to re ceive their proposal,” Piñol said in an interview with reporters recently when asked if the DTI has submitted to NFAC its import proposal.

“My suggestion to Secretary [Ramon M.] Lopez is that they should partner with a private trader or importer who will pledge to them that the rice that will be imported will be used to supply the suki stores,” he added.

Piñol said he suggested to Lopez that the rice to be imported should be sold at P36 per kilogram to ensure that it would have an impact on the market. Furthermore, he added that the rice to be sold must be packaged already in 5-kilogram and 10-kilogram packs with a label of “DTI Suki Store.”

“Secretary Lopez liked my idea. So, I told him to find a partner,” Piñol said.

“We are still waiting for their proposal.

ity, and as a practical business decision, if the Expanded Maternity Leave Bill is enacted into law, many employers will now be prudent in hiring women employees to avoid paying the expanded maternity leave benefits, especially women applicants who are still in their fertility years.

Thus, while the authors of the Expanded Maternity Leave Bill may have good intentions, its downside effect on the business community may, however, far outweigh its good purpose.

This might even ostracize women in the job market. Therefore, will the Expanded Maternity Leave Bill not be a disservice to working women and the female labor force?

And while production lines in the country’s various factories are now mostly lined with women workers, will the Expanded Maternity Leave Bill not change the industry’s labor landscape?

Already, the Social Security System (SSS) aired its concern about the bill, saying that its enactment would prompt them to collect higher contributions from members to cover the additional cost for maternity leave benefits of its members, which, under the new law, could reach up to P6 billion.

And should the SSS implement its only course of action, even the male workers, both single and married, would have to carry the burden of paying for their monthly SSS contributions to cover this added cost.

Isn’t this bill unfair? Were this labor force sector consulted for their comments and suggestions during the bicameral deliberations of the Expanded Maternity Leave Bill?

It is on this light that I am appealing to President Rodrigo Roa Duterte to have the bill reviewed further for its impact on the business sector, before he signs it into law.

Like any other parent, I am also in favor of improving the quality of life of Filipino families. And, indeed, quality time between a mother and her newborn child is crucial, especially for lactating mothers. But we’ve seen it for decades that the current 60-day maternity leave is enough.

I believe that the business sector is not yet ready for the expanded maternity leave benefits at this time, when it is still struggling with inflation and the rising cost of production.

And most important, while some are claiming the bill to be an early Christmas bonus for women workers, on the contrary, it might make their Christmas gloomy.

I hope they can submit it on Monday,” Piñol added.

The agriculture chief has called for an NFAC meeting on Monday to assess and address the country’s current rice situation. “Once we receive their proposal, we will discuss it right away on Monday,” Piñol said.

Earlier this week, Lopez disclosed that the government is considering allowing major retailers, as well as traders, to import rice at a fixed price.

“This way, we don’t need to worry about layers of traders who will just make margins in the process. With this scheme, we allow retailers who will undertake to sell all their imported stock at the set price,” Lopez said in a statement.

Lopez explained that the sales of the sellers will be audited to verify if the import stocks are really sold at the committed prices. Lopez said he would request the interested parties to write an undertaking to sell rice at P38 per kilogram. Jasper Emmanuel Y. Arcalas

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Products from native pig soon to hit the market P ROCESSED products from native pig, including lechon, tapa, tocino and siomai, developed by the Camarines Norte Lowland Rainfed Research Station (CNLRS) of the Department of Agriculture-Regional Field Office will soon be available in Daet, Camarines Norte.

This initiative is made possible through the project, “Production, Promotion and Commercialization of Native Pigs in Camarines Norte,” which was funded by the Bureau of Agricultural Research through its National Technology Commercialization Program.

The project sought to promote technologies on native pig production and commercialize processed native pork products in the province and help expand the native pork industry as a whole.

Leading the project were Engr.

Bella Frias, CNLRS center chief; and Engr. John Leonard Andaya, study leader who played vital roles in accomplishing the activities and outputs.

Currently, the products are now being processed with the packaging and labeling soon to be ready for mass production together with Kristel Gabelle Moraleda Patawaran, technology adaptor.

Data from the Philippine Statistics Authority (PSA) showed that the value of the livestock subsector’s output reached P79 billion at current prices.

“All livestock components contributed to the 9.85-percent growth in the gross earnings of the subsector. Higher production and price triggered the increase in the gross receipts from hog by 10.67 percent,” the PSA said.

In terms of volume, the PSA said the livestock subsector’s output rose by 1.8 percent on an annual basis in the second quarter.

“Hog production made a turnaround with this year’s 2.81-percent gain in production. This was attributed to higher farm-gate price, which encouraged hog raisers in Ilocos region, Bicol region and Northern Mindanao to dispose of their stocks,” the PSA said.

Urban dwellers complete KSK training in Pasig, Las Piñas

Short and skinny oil palms to boost world’s most-used edible oil

K

ABALIKAT sa Kabuhayan (KSK) Batches 173 and 174 of the SM Foundation Inc. recently completed their urban farming and gardening training course at Las Piñas City and Pasig City, respectively. Each batch had 100 participants.

A harvest festival at the demo farm in Barangay Talon IV, Las Piñas City, was attended by by guests from the Barangay local government unit, SM Southmall representatives, Savemore M. Alvarez, SM Supermarket, SM Hypermarket, the Department of Social Welfare and Development (DSWD) and Macondray Plastics Products Inc. A participant, Joralyn Gongora, said she is grateful for the training not only because she learned farming techniques but also because her grandchild now eats vegetables.

“Maraming salamat po sa SM Foundation, madami pong nagbago sa akin pati na rin po sa aking pamilya. Sa katunayan, ang apo ko po ay hindi kumakain ng gulay, pero dahil po sa programang ito ay kumakain na ngayon ang aking apo at mas naging supportive po sa akin ang aking pamilya,” Gongora said.

Meanwhile Batch 174’s harvest festival at Barangay Santa Lucia, Pasig City, was attended by guests from the National Housing Authority, SM East Ortigas, Savemore Amang Rodriguez, SM Supermarket East Ortigas, DSWD and Macondray. Mario Javeniar, a participant, intends to share what he learned with his neighbors.

Introduced in 2015 SM Foundation’s Urban Farming and Gardening Training aims to help promote food security, as well as provide an extra form of livelihood for the participants in the urban areas. Participants are taught smart farming using limited spaces or backyards and utilizing plastic containers as pots when possible.

Editor: Jennifer A. Ng • Friday, October 5, 2018

Senate bill aims to stop NFA from importing rice

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Senate is keen on removing the power of the National Food Authority (NFA) to import rice so it could focus on purchasing local paddy once the quantitative restriction (QR) on the staple is scrapped.

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LANT scientist Meilina Ong Abdullah treads between neat rows of young palms and points to a petite variety that she says may help revolutionize a $19-billion Malaysian export crop.

The dwarf trees at a government research center in Malaysia’s southern state of Johor are clones of a new variety bred to be 30 percent smaller than regular oil palms when they mature.

That’s a significant advantage for farmers harvesting the red and orange fruit that can grow between thorny fronds up to five stories high.

Seedlings of the Clonal Palm Series 2, or CPS2, variety—which can cost up to two times more than conventional plants—are being rolled out by the Malaysian Palm Oil Board, the agency responsible for promoting and developing the country’s most valuable agricultural export. The release of CPS2 is largely in response to a labor shortage and the shrinking availability of land for new plantations.

“Plantations need compact and dwarf materials to maximize their land use,” says Meilina, head of the board’s breeding and tissue culture unit, as she watches a colleague measure the distance between trees under the hot equatorial sun.

CPS2, whose smaller size enables farmers to grow more trees per hectare, may also help counter another challenge for palm oil: sustainability.

The commodity, used in everything from chocolate and cosmetics to car fuel, is mired in controversy as native tropical rain forests inhabited by orangutans, rhinoceroses and other endangered species have increasingly

“The sustained demand in Central Luzon, Central Visayas and Eastern Visayas was noted while the increases in live births and low mortality rate during the first quarter of 2018 resulted in more supply of fatteners in Calabarzon,” it added.

In the January-to-June period, the PSA said the livestock subsector’s gross output rose by nearly 2 percent on an annual basis.

made way for oil-palm groves.

In Malaysia the groves cover 5.8 million hectares (14.3 million acres)—an area more than twice the size of Massachusetts—as well as 12.3 million hectares of neighboring Indonesia.

Longer life

CPS2’S shorter fronds enable farmers to plant as many as 36 percent more seedlings a hectare without reducing photosynthesis or yield quality. Meanwhile, their slower growth can add a decade to the economic life of a plantation, which is typically 25 years, according to Meilina. “We have been trying to improve yields over the years and at the same time we want to be sustainable,” she said.

Nongovernment environmental organization Greenpeace accused 25 palm oil producers last month of clearing more than 130,000 hectares of rain forest, including 51,600 hectares in the Indonesian province of Papua, since 2015.

Indonesian President Joko Widodo ordered his government last month to halt issuing permits for new palm-oil plantations and the expansion of existing ones for three years, while Malaysia’s government pledged to maintain its forest cover at 50 percent “Efforts to make more productive use of land already cleared for cultivation, rather than expanding industrial plantation areas through land-grabbing, forest-clearing or peat drainage, is critical,” said Annisa Rahmawati, Greenpeace Southeast Asia’s senior forest campaigner, in an e-mail. Still, productivity improvements do nothing to address the deforestation that’s already occurred, she said. Bloomberg News

A7

Senate Committee on A g r iculture and Food Chairman Sen. Cynthia A. Villar said the current mandate of the NFA creates an “intentional confusion” because it could either import rice or procure local palay.

To remove this confusion, Villar said, the Senate version of the rice tariffication bill would only limit the NFA from procuring local palay to beef up its buffer stock.

“There is an intentional confusion whether you will buy from farmers or you will import. So, we are removing the intentional confusion because you cannot import anymore [under the rice tariffication bill],” she said during the budget hearing of the Department of Agriculture on Thursday.

“The only thing you can do now is to buy from farmers so that there will be no intentional confusion. Because you are so confused whether you will buy from farmers or import

rice,” Villar added.

Villar, who is a coauthor of the rice tariffication bill at the Senate, said senators are targeting to approve the measure on second reading next week. A certification that the measure as urgent from Malacañang would speed up the approval process, she said.

Under Senate Bill 1998—the bill that seeks to convert the rice QR into tariffs—the NFA would be only allowed to undertake direct rice importation when the local production is not sufficient “for the purpose of maintaining the required buffer stock to ensure rice security.”

Economic managers, such as Socioeconomic Planning Secretary Ernesto M. Pernia, have earlier said “the NFA has no place in rice trade.”

Pernia said this is actually the aim of the rightsizing of the national government bill, which is included in the list of the Duterte

administration’s legislative agenda.

“The NFA should really just focus on ensuring adequate buffer and regulation [of the market]. They should no longer be involved in buying [and] trading,” Pernia told the BusinessMirror in February.

Economic managers are keen on removing the QR on rice to tame inflation, which has accelerated in recent months due to the implementation of the Tax Reform for Acceleration and Inclusion.

The government expects the increase in rice supply—with the scrapping of the QR—to cut the price of the staple by P7 per kilogram.

Congress is racing to amend Republic Act (RA) 8178 to lift the QR by the end of the year, as Manila is under pressure from its trading partners at the World Trade Organization to scrap the nontariff measure. The special waiver on rice granted by the WTO had already lapsed on June 30, 2017.

Apart from scrapping the QR, the rice tariff bill seeks to set up a rice enhancement competitiveness fund (RCEF) that will help farmers cope with the removal of the quotas.

Removing the QR on rice by amending RA 8178 would allow the government to generate P27 billion annually, according to a paper published by the Philippine Institute for Development Studies (PIDS).

The PIDS paper noted that the projected revenues would come from the importation of some 2.2 million metric tons of rice at a 35-percent tariff. Purchases of imported rice are expected to increase once the government removes the QR.

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Friday, October 5, 2018

Banking&Finance BusinessMirror

LandBank offers ₧300-M loans to Ompong-hit N. Luzon farmers

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HE Land Bank of the Philippines (LandBank) is extending at least P300 million in loans to Northern Luzon farmers affected by Typhoon Ompong to help them recoup their losses.

T he amount was based on L andBank ’s initia l estimates among the Ompong-affected clients of the bank.

LandBank said it is continually assessing “the extend of damage suffered from the typhoon in order to address clients’ financing needs and provide appropriate assistance.”

“We understand how difficult it is to rebuild and recover after a calamity, which is why LandBank extends loan restructuring and rehabilitation loans to assist our fellow Filipinos, especially farmers, in getting back on their feet,” LandBank President and CEO Alex V. Buenaventura said on October 4.

The P300-million loan would

come from LandBank’s Calamity Rehabilitation Support (CARES) program, which is the bank ’s flagship calamity assistance programs.

LandBank said it has approved a total loan amount of P4.4 billion under the CARES program in the first half. Of the total amount, P3.8 billion has been released to about 191 borrowers, according to LandBank.

“Of this amount, P1.1 billion was extended to 47 bank conduits [42 cooperatives, four countryside financial institutions or CFIs, one nongovernment organization or NGO], which have extended equally concessional rates to 1,830 small farmers and fishers and 4,984 microenterprises and

FILE PHOTO

SMEs,” LandBank said.

Furthermore, LandBank said it would allow its Ompong-affected clients to have their loan accounts restructured or have an extended period to pay their borrowings. “ T he pay ment to e x ist i ng short-term loan accounts of LandBank customers who were affected by typhoon and other natural or man-made calamities may be restructured or extended up to a maximum of five years,” it said.

“Meanwhile, term loan ac-

counts may also be restructured for an additional five years over their remaining term at the time of calamity. The five-year loan repayment terms shall be inclusive of a one-year grace period [deferred payment] on both principal and interest repayments in order to help the customers focus initially on restoration and rebuilding,” it added.

LandBank said existing and new clients could access the rehabilitation credit fund under the

CARES program.

“Cooperatives, CFIs and NGOs may be provided with rehabilitation credit fund for their relending activities to small farmers, fishers, and microenterprises,” LandBank said “The fund may also be made available directly to small and medium enterprises and local government units for repair/rebuilding, construction and acquisition of new facilities or equipment,” LandBank added. Jasper Emmanuel Y. Arcalas

Sarangani extends tax Banks to leverage technology, amnesty till year-end trust amid regional integration

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ENERAL SANTOS CITY— T he prov incial government of Sarangani has extended until year-end its tax amnesty program for real properties with tax delinquencies.

Sarangani Gov. Steve Chiongbian Solon said on Wednesday they stretched the amnesty program until December 31 to give taxpayers from the province’s seven municipalities more time to settle their dues.

He said the extension was based on Prov incia l Ta x Ordinance 2018-9-007 passed last month by the Sangguniang Panlalawigan or provincial board.

The amnesty, which started in October last year, was originally set until September 30 or for one year.

Under the program, the local government waives the interest, penalty and surcharges for all delinquent real properties.

“They [property owners] just h ave to set t le t he pr i nc ipa l amount of their real property tax

dues,” the governor said. Solon said the extended tax amnesty program applies to all individual and corporate property owners in the province.

Citing a report from the Provincial Treasurer’s Office (PTO), he said the provincial government’s real property tax collection since the implementation of the amnesty already reached around P22 million.

He said such figure includes the collections made by the province’s seven municipal treasurer’s offices.

Provincial Board Member Cornelio Martinez, chairman of the board’s finance committee, said the total collections could surpass the province’s P200-million target based on the assessment made by the PTO and the Provincial Assessor’s Office.

He said negotiations are ongoing with an undisclosed telecommunications company for the settlement of its realty tax dues amounting to around P300 million. PNA

By Bianca Cuaresma @BcuaresmaBM

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OCAL lenders are looking to leverage on technology and trust in order to maintain growth and profitability in the dawn of the regional banking integration.

In a recent survey, the Bangko Sentral ng Pilipinas (BSP) asked the presidents/chief executive officers/country managers of 114 banks in the country with regard to their top three strategies on how to sustain growth and profitability, as more foreign banks are looking to enter the local scene.

“While the regional banking integration slowly unfolds, banks are facing new aspects of competition and may benefit from a good competitive strategy. In the survey, banks are asked how they will maintain growth in an era of intense competition, heightened customer expectation and

nontraditional market entrants,” the BSP said.

The Asean’s vision for financial integration seeks to achieve a well-harmonized and smoothly functional financial system by 2025, characterized by more liberalized capital account regimes and interlinked capital markets.

Part of this financial integration vision is the ABIF, or the framework agreed among the Asean member-states to facilitate the entry and operation of Qualified Asean Banks in other Asean countries to promote equal access and treatment among local banks and foreign entrants in each economy.

The local banks’ top three plans to maintain their stronghold amid the integration include developing new capabilities, expanding market reach and leveraging client relationship.

Survey results in particular showed that 71.1 percent of banks

Redefining business events–the Thai way

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RECENTLY participated in the 26th Incentive Travel & Convent ions, Meet i ngs Asia (IT&CMA) organized by the Singapore-based TTG Asia Media Events. The event was held from September 18 to 20, at the Bangkok Convention Centre at Central World.

IT&CMA is one of the largest events dedicated to the Meetings, Incentives, Conventions and Exhibitions (MICE) industry in the Asia-Pacific region. The event gathered more than 800 exhibitors, representing about 300 companies and organizations, plus 440 hosted buyers, including associations.

For association professionals like myself, the organizers also had a curated program attended by association influencers and decision-makers who shared their experience and expertise in tai-

lored learning forums, scheduled business appointments, updates from destinations and networking sessions.

One of the destination updates I attended featured the new branding campaign of the Thailand Convention & Exhibition Bureau (TCEB), themed “Redefine Your Business Events.” This aims to meet the shifting demands of business travelers with a fresh perspective on corporate and association events. (Interestingly, “ine,” the last three letters in the word, “Redefine,” means “Thai” in the Thai language.)

The campaign is driven by the Thai government’s “Thailand 4.0 Policy” to keep the country ahead of the competition in today’s fastpaced business landscape. Thailand 4.0 is an economic model that aims to unlock the country’s potential from several economic

Association World Octavio Peralta challenges resulting from past economic development models.

The new model places emphasis on agriculture (Thailand 1.0), light industries (Thailand 2.0) and advanced industries (Thailand 3.0).

TCEB Senior Vice President Nichapa Yoswee said: “TCEB’s new branding strategy is set to match the expanded demands of business travelers looking for more experimental, unique, and new experiences, and searching for more returns—from return on investment to return on objective and return on happiness.

TCEB is moving forward with an important mission to promote the business events industry as Thailand’s key economic contributor.”

To elevate the MI (Meeting & Incentives) sector, TCEB will be implementing strategic plans for 2018 and 2019 that will focus on building a MICE ecosystem to encourage target groups and integrate programs in three directions. First is to enhance MI activities in targeted industries under the Thailand 4.0 Policy by promoting the country’s key industrial sectors through meeting activities. Second is to increase meeting activities in MICE cities and second-tier MICE destinations such as the Eastern Economic Corridor (EEC), Hua Hin, Prachuabkirikhan, Chiang Rai, and Koh Samui in Surat Thani. The development of MICE resources in these cities will help create

have plans to use technology in their banking transactions.

“The results of the survey also show that a majority of the banks use technology to address operation performance, internal risk controls, risk management, business continuity, compliance, customer experience and client-based expansion,” the BSP said.

In expanding market reach and leveraging on client relationships, banks said they are looking to do this by “deepening” the bankcustomer connection and by developing new products that would especially cater to the needs of the local market.

“Hiring and retaining of key talents is also essential to maintain banks’ profitability. Similarly, respondents also expect that pursuing organic growth, leveraging on technology and restructuring internal organization are equally important in maintaining profitability,” the BSP said.

jobs and raise revenue. Third is to strengthen proficiencies of local MICE operators in the area of product and service development, as well as marketing and sales capabilities.

The bureau estimates that Thailand will welcome 1.3 million overseas business travelers at the end of the fiscal year 2018—a number that is 3.96 percent higher than in 2017—and generating 124,000 million baht in revenues to the country, or a growth of 15.98 percent.

By sharing this story, I hope policy-makers here start to really appreciate the importance and contribution of the MICE industry to the economy.

Learning from this Thai experience means for us to develop a more coherent and coordinated approach and to expand the MICE ecosystem and tie this up with

www.businessmirror.com.ph

GSIS to offer new housing-loan condonation until Dec. 31

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TARTING October, the Government Service Insurance System (GSIS) will offer a 100-percent waiver of unpaid penalties and surcharges to housing buyers and borrowers with past due accounts and are willing to settle their housing obligations in full. The deadline for the submission of application to the condonation program is on December 31.

“A majority of our existing borrowers stand to benefit from this program, as almost 55 percent of our remaining 29,000 housing accounts are for cancellation, foreclosure or have incurred several months of arrears,” GSIS President and General Manager Jesus Clint Aranas said.

“The program will lighten the burden of our borrowers as it saves them from the heavy load of having to pay the accumulated penalties and surcharges that have been imposed from unpaid amortizations.

More important, it will give them the opportunity to save their homes,” the pension fund chief added.

Aranas said the program is open to active or inactive members, as well as nonmembers, with deeds of conditional sale or real-estate loan accounts that are in arrears or in default. Only accounts that have not yet been canceled nor foreclosed are eligible for condonation.

However, accounts that have been canceled but not yet uploaded as investment property, as well as those that have been foreclosed but the titles of which have not yet been consolidated in the name of GSIS, may still avail of the condonation program.

Buyers of rights and legal heirs of deceased borrowers may also apply for penalty condonation.

“We would like to remind all interested applicants to avail of the program before the set deadline to prevent the troubles caused by last-minute filing and avoid further penalty charges of at least 1 percent per month,” Aranas explained.

He advised prospective applicants who will pay their overdue accounts in full to request a condonation statement of account from the nearest GSIS office.

The application forms, requirements, and terms and conditions are available online at www.gsis. gov.ph.

Interested applicants may also e-mail HARD@gsis.gov.ph or call 479-3568 to 69, 479-3581 to 82, or 976-4900 local 3361 to 3364 for inquiries or clarifications.

the economic development plans of the nation.

The column contributor Octavio Peralta is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and CEO and founder of the Philippine Council of Associations and Association Executives (PCAAE).

PCAAE is holding its Sixth Associations Summit on November 23 and 24, at the Subic Bay Exhibition and Convention Center.

The event is hosted by the Subic Bay Metropolitan Authority and supported by the Tourism Promotions Board (TPB).

PCAAE enjoys the support of ADFIAP, TPB and the Philippine International Convention Center.

E-mail: obp@adfiap.org

The Regions BusinessMirror

www.businessmirror.com.ph

Editor: Dennis D. Estopace • Friday, October 5, 2018

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Finland promises continued support to PHL’s peace process

By Manuel T. Cayon

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@awimailbox Mindanao Bureau Chief

AVAO CITY—The Philippines has secured Finland’s pledge to continue its support to the peace initiatives of the government, especially with the settlement with the second Moro guerrilla front.

The new assurance would hew closely with the move of the Office of the Presidential Adviser on the Peace Process (Opapp) to tap women experts in the Association of Southeast Asian Nations (Asean) in the field of peace process and reconciliation.

The Opapp said Finland Ambassador to the Philippines Petri Puhakka paid a courtesy call on Presidential Peace Adviser Jesus G. Dureza on Monday at the Marco Polo Hotel in this city where the latter extended the assurance of his country’s support to the Philippines’s “quest for lasting peace and sustainable development.”

“We are happy to do our part to help,” Puhakka said.

He also assuaged the government to continue its work “noting that change will not happen overnight.” “The people will need to manage their expectations,” Puhakka added.

Dureza briefed Puhakka on the government’s Comprehensive Philippine Peace Process, “particularly on the salient provisions of the recently passed Bangsamoro Organic Law (BOL) and how the landmark measure will impact on the lives of the people in the region.”

“We are now at the [information and education] campaign stage. We want people to better understand [the law],” Dureza said.

He said he was confident of the Bangsamoro people’s vote for the passage of the landmark measure in the plebiscite scheduled in January next year.

“I have very high expectations [it will be supported] by the people,” he said.

The two officials discussed possible areas of collaboration between their respective countries, which would include a proposal for Finland to provide capacity-building assistance to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“We really need your help to capacitate the people,” Dureza said. “We need to improve the lives of people. Development is very important.”

On the canceled peace negotiations with the National Democratic Front, Dureza said the government has not entirely locked the door. “It is still open and could resume once there is an enabling environment,” he added.

For the meantime, President Duterte authorized local government officials to conduct localized peace engagements with local guerrilla leaders.

Meanwhile, the Opapp would tap the expertise of Asean women peace advocates in the peace process and reconciliation efforts in the Philippines.

The Permanent Mission of the Philippines to Asean and the Ateneo de Manila University has already arranged for the holding of an Asean-wide “Symposium on the Establishment of an Asean Women for Peace Register [AWPR],” an activity to develop a pool of experts from Asean member-states to be resource persons in assisting conflict management and conflict resolution activities.

The Opapp said the symposium was set in December this year.

The Asean members would nominate women experts to share their knowledge and experiences in gender mainstreaming, capacity-building, women’s achievements, and the promotion of respect for human dignity and human rights under the context of peace, reconciliation and conflict resolution, the Opapp added.

The symposium would discuss the issues taken up in the Joint Statement on Promoting Women, Peace and Security in Asean that was adopted last year during the 31st Asean Summit.

Dureza signed the memorandum of agreement on Monday on the holding of the symposium to develop the pool of resources.

Maria Luz Vilches, the Ateneo de Manila University vice president for Loyola Schools, and Elizabeth Buensuceso, the permanent representative of the Republic of the Philippines to the Asean and the representative to the Asean Institute for Peace and Reconciliation Governing Council, signed for their respective institutions.

“We really need this MOA to institutionalize women participation,” he said.

A10 Friday, October 5, 2018 • Editor: Angel R. Calso

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Buy oil with gold

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HE Philippines is facing some economic hardship in part due to global oil prices. We can debate what the short-term fix might be, like lowering the tax on gasoline. We can match our Asean neighbors’ methods for mitigating the effects through taxpayer-funded price subsidies.

However, no short-term solution is going to change the fact that the Philippines imports nearly all of its crude oil requirements and a large portion of its refined oil products. We might reduce our oil products imports by building refineries here at home. Yet, there is no guarantee that the cost savings would be significant.

For certain products, it might even be less costly to import those produced by the existing mega-refineries in Singapore.

There is some hope that if and when the Philippines is able to tap the petroleum resources of the West Philippine Sea, this might lower the cost of crude oil for our existing and future refineries.

But this is long term and because little, if any, exploratory drilling has been done in the WPS, the economic benefits are completely unknown.

Economic common sense says that if you produce your own goods, the cost should be cheaper. The farm-gate price of live hogs is about P120 per kilo. The provincial household raising a few pigs is obviously paying less for its pork on the table than a supermarket consumer in Manila.

The “sensible” solution would be to raise your own pigs to lower your cost. But we know that is not at all sensible. Since the earliest close human communities, there were divisions of labor and production. The farmer grew the wheat. The baker made the bread.

The poultry farmer raised chickens and someone else owned the piggery. Each required different resources from the farmer needing plenty of land to the baker knowing how to build an oven.

The Philippines may never be self-sufficient in oil any more than it will be in fresh milk, soybeans or cotton sewing thread.

The man or woman in Manila that wants to eat chicken and does not have the resources to raise his or her own must buy from the one in a rural location than does have the resources. Therefore, city dwellers must utilize their available resources—like a degree in finance to work for a bank—to make money for the purchase.

The Philippines does not have oil but we do have an enormous amount of minerals. One foreign mining geologist described the island of Mindanao as “one big chunk of gold.”

We obviously must preserve and protect the environment. But that is the task of the government and it has been a continuous and spectacular failure. The argument that nothing can be done is simply ridiculous. Notice all those traffic signals provided by the government. Without those, traffic would be worse than it is. The government uses those for traffic management and safety. It writes laws to keep us all in line, and penalizes us if we violate the rules.

The government is able to regulate food safety, transportation safety, and licenses hospitals, schools and accountants. Of course, there are going to be malfunctions, mistakes and breakdowns.

But it is only with the mining industry that the government has no desire to even attempt to do the job it is supposed to do. Pay for foreign oil with Filipino gold, copper and nickel.

Since 2005

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T. Anthony C. Cabangon

SPOX

O

NE of the most reliable things in our political arena is that whenever there is a deadline for doing anything, there will immediately be an attempt to secure an extension. Always.

It does not matter if it’s a recurring deadline, as is the case with voter registration where every registration period necessarily draws to a close at some point. Someone will still allege that the Commission on Elections is depriving unregistered people of their right to vote— sometimes even using language far less polite. Nor does it seem to matter that the Supreme Court itself has repeatedly upheld the Comelec’s authority to determine the end of the voter registration period. When the next voter registration period ends, the same tired old arguments are trotted out with clockwork regularity. In a sense, you’ve got to admire the tenacity, but at some point, you’d expect that settled issues would be allowed to rest, wouldn’t you?

The argument is simple enough.

Those seeking extension advert to Section 8 of Republic Act (RA) 8189, which states that “No registration shall, however, be conducted during the period starting 120 days before a regular election and ninety days before a special election.” This means, so the argument goes, that the Comelec needs to be open to receive applications for registration, i.e., the “registration period,” all the way up to 120 days before the next regular election and 90 days before a special election. Referring specifically to the national and local elections, which

are held in May, this means that the immediately preceding voter registration ought to end only in January.

As the Supreme Court so pithily stated in GR 221318 (December 18, 2015), “the position is, once more, wrong.” The Court pointed out that Section 8 of RA 8189 “does not mandate Comelec to conduct voter registration up to such time; rather, it only provides a period which may not be reduced, but may be extended depending on the administrative necessities and other exigencies.” Put differently, the Court is saying that the 120- and 90-day periods mentioned

The bigger questions Sonny M. Angara

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

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No extension

BETTER DAYS

T

HE Senate recently conducted its first hearing on the proposed Trabaho (Tax Reform for Attracting Better and Higher Quality Opportunities) bill. This is the Executive’s second reform package for lowering corporate income tax rates and rationalizing the fiscal incentives for investors—comprising some of today’s biggest economic issues.

We’ve momentarily suspended deliberations, pending a study from the Department of Labor and Employment and the Department of Finance (DOF) on the measure’s impact on people’s jobs. It’s ironic that based on the DOLE’s admission during the hearing, a measure named Trabaho could, in fact, lead to job losses.

Such matter should be taken seriously, considering the private sector has cautioned that any withdrawal of incentives would severely impair their operations. In fact, the Semiconductor and Electronics Industries in the Philippines

Foundation Inc. (Seipi) said in a statement that member-companies would be forced to lay off as many as 140,000 workers if the bill is enacted in its present form. Hence, extra steps are needed to ensure that no Filipino family loses their livelihood because of the proposed reform.

The measure does have its merits. Many have argued that since the Philippines has among the highest corporate income tax rates in Asean, lowering them via the Trabaho bill would boost our attractiveness to investment—and hence, broaden the opportunity for more jobs.

in the law do not say that voter registration periods should “continue up to this time,” so to speak, but simply lays down the rule that within those time frames, no voter registration could be conducted. Understood in this way, the language of the law clearly allows voter registration periods to be terminated prior to the start of those 120- and 90-day periods, conformably with the Comelec’s constitutional authority to “promulgate the necessary rules and regulations to fulfill its mandate.” This, according to the Court, “includes the determination of the periods to accomplish certain preelection acts, such as voter registration.”

The Court, however, didn’t end with that declaration. Hoping, perhaps, to finally write an end to this line of reasoning adopted by extension campaigners, the Court reiterated that “voter registration does not begin and end with the filing of applications which, in reality, is just the initial phase that must be followed by the approval of applications by the [Election Registration Board].” In essence, the Court took the time to outline all the steps that take place after the submission of applications during the “voter registration period,” all of which subsequent steps actually form part of the entire process of voter registration, properly speaking. The Court then placed voter registration within the larger context of election preparations.

“These steps are necessary for the generation of the final list of voters

which, in turn, is a prerequisite for the preparation and completion of the Project of Precincts that is vital for the actual elections. The POP contains the number of registered voters in each precinct and clustered precinct, the names of the barangays, municipalities, cities, provinces, legislative districts and regions included in the precincts, and the names and locations of polling centers where each precinct and clustered precinct are assigned. The POP is necessary to determine the total number of boards of election inspectors to be constituted, the allocation of forms and supplies to be procured for the election day, the number of vote counting machines and other paraphernalia to be deployed, and the budget needed.

More important, the POP will be used as the basis for the finalization of the Election Management System, which generates the templates of the official ballots and determines the voting jurisdiction of legislative districts, cities, municipalities and provinces. The EMS determines the configuration of the canvassing and consolidation system for each voting jurisdiction.”

And after that exhaustive enumeration, the Court concluded that “the Comelec should be given sufficient leeway in accounting for the exigencies of the upcoming elections. In fine, its measures therefor should be respected, unless it is clearly shown that the same are devoid of any reasonable justification.”

In other words, “no extension.”

Many also agree, though, that the more contentious aspect of the measure is its proposed rationalization or streamlining of fiscal incentives—a matter first brought to Congress for discussion as far back as the 1990s.

Supporters have repeatedly decried how our fiscal incentives system lacked cohesiveness or strategic direction. Today, up to 14 investment promotion agencies (IPAs) and 946 “ecozones” and free ports are authorized to give out fiscal incentives of whatever design in line with 236 investment and non-investment laws. With so many agencies and laws, it’s easy to imagine how the grant of tax perks and other fiscal incentives could end up serving parochial rather than national interests.

The DOF also emphasized at the Senate that ours is among the most generous of regimes, granting fiscal incentives in lieu of all taxes for long periods of time—some in perpetuity without conditions. By their estimates, up to P344 billion worth of fiscal incentives were given out in 2015 alone, representing significant foregone revenues that could have gone to better roads, bridges,

schools, hospitals or even higher teacher salaries.

But while these points should not be discounted, neither should the successes under the current regime be dismissed. For instance, many during the hearing highlighted how the Philippine Economic Zone Authority (Peza) has played a decisive role in ushering more job-creating investments into the country—not just through the incentives it granted but through its position as a onestop shop for locators and would-be investors.

Per Peza’s presentation, up to 4,228 locator-companies now operate in economic zones across the country, directly employing up to 1.417 million Filipinos. Between 1995—the year the Special Economic Zone Act or Peza law was enacted—and 2017, up to P3.614 trillion in economic zone investments was generated.

Clearly, to move forward on this issue, we will need to conduct our studies thoroughly, see if the pros outweigh the cons, and make sure that all discussions on these big issues are constructive (even if they tend to get long-winded).

See “Angara,” A11

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Opinion

Heart of charity

‘Paalam at mabuhay,’ Cely Bautista

BusinessMirror

Rev. Fr. Antonio Cecilio T. Pascual

Tito Genova Valiente

ANNOTATIONS

SERVANT LEADER

‘S

ELL your possessions, and give to the needy. Provide yourselves with moneybags that do not grow old, with a treasure in the heavens that does not fail, where no thief approaches and no moth destroys” (Luke 12:33).

As we profess our faith through prayers and devotions to God, we must also profess our generosity through gift giving and charity.

We are not just an ordinary people because we are the children of God who “open our hands freely to our brothers and sisters in need, and generously lend them sufficient for their needs in whatever they lack” (Deuteronomy 15:8).

Reflecting about charity, we in Caritas Manila found our way to promote this value, through our Celebrity Bazaar, by looking for people with generous heart who are willing to offer their possession in behalf of our brothers and sisters who are in need of assistance.

In December 2016 we mounted the very first Celebrity Bazaar dubbed The Pre-Loved Luxury Brand Sale represented by Ms. Universe 2015 Pia A. Wurtzbach held at the Glorietta 5, Ayala Center, Makati City.

Recognizing that act of generosity, it reminds us of what Manila Archbishop Luis Antonio Cardinal Tagle, D.D. said that “our love for God is best expressed by the love we have for our brothers and sisters” and through that, we are continuously expressing and promoting our love for God through charity and generosity by calling once again all the faithful with generous heart to support and join our Second Celebrity Bazaar on October 18 at the Activity Center of Megamall. The face

Angara. . .

continued from A10

But before we even unpack corporate income tax reform and fiscal incentives rationalization, there must be some consensus on what the country’s growth strategy ought to be. How can we create more jobs without killing the ones present today? What industries should we incentivize? What should we do today so that we boost our competitiveness now, while preparing for growth opportunities tomorrow?

Answering these would greatly provide some context and rationale to the ongoing discussions on the

of this year’s celebrity bazaar is US Harpers’ Bazaar Icon dubbed Real Crazy Rich Asian, Ms. Heart Evangelista-Escudero.

Full proceeds will still be used to support the 5,000 YSLEP scholars of Caritas Manila.

On the other hand, we are also calling our friends and fellow members in media for the press conference of the said event on October 14, 1 p.m. at the Lugang Café Restaurant in SM Megamall to be graced by Ms. Heart, Father Anton CT Pascual of Caritas Manila, Mr. Steven Tan of SM Supermalls, Msgr.

Bong Lo of the Megamall Chapel, and Ms. Felicidad Sy. The complete details of this Second Celebr it y Bazaar w ill be discussed on the said press conference.

My dear brothers and sisters in Christ, let us remember that “the Lord Jesus himself said: “It is more blessed to give than to receive” (Acts 20:35) as “if we give our self to the hungry, and satisfy the desire of the afflicted, then our light will rise in darkness and our gloom will become like midday” (Isaiah 58:10).

To know more about Caritas Manila, visit or follow us on Facebook: CaritasManilaInc. For your donations, please call our DonorCare lines 563-9311, 564-0205, 0999-7943455, 0905-4285001 and 0929-8343857. Make it a habit to listen to Radio Veritas 846 in the AM band, or through live streaming at www.veritas846.ph and follow its twitter and instragram accounts @veritasph and YouTube at veritas846.ph. For comments, e-mail veritas846pr@gmail.com.

Trabaho bill. More important, it would provide the basic ingredients for a solid plan—a unifying economic vision even—around which all stakeholders can rally and coordinate their own efforts.

John Echauz, a World Economic Forum fellow, delivered a presentation during the Senate hearing on some findings that I believe could be a first step to crafting this economic vision. This is the bigger issue that I aim to discuss in a later column.

Sen. Sonny M. Angara was elected in 2013, and is now the chairman of the Senate Committees on Local Government, and Ways and Means.

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

Musings on agriculture Ser Percival K. Peña-Reyes, Ph.D.

EAGLE WATCH

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R. Gunnar Myrdal, a Nobel laureate in economics, is known for this assertion: “It is in the agricultural sector that the battle for long-term economic development will be won or lost.” A previous Eagle Watch article written by Ms. Clarice Manuel featured small-scale corn farmers’ misfortunes, which illustrate the dire implications of Myrdal’s view. Perhaps, further reflection is warranted, since current events appear to be intimately linked with the pitiful state of Philippine agriculture.

Why is it pitiful? Naturally, having wrong priorities often leads to poor outcomes. In a recent presentation at the Asian Development Bank, Dr. Fermin Adriano gave an interesting comparison between two things that drive Filipinos’ obsession: rice self-sufficiency and basketball. As argued by Adriano, just as the Philippines is not ag-

ronomically endowed to become self-sufficient in rice production, Filipinos are also not genetically predisposed to excel in basketball.

Just as rice production has been generously funded to the neglect of other crops, basketball has also been generously funded to the neglect of other sports. Just as the Philippines experiences rice shortages, it also

Friday, October 5, 2018 A11

H

INDI ko masabi na minamahal kita. Hindi ko masabi iniibig kita. The translator should struggle with those two words: minamahal and iniibig. Both words are about loving. The intensity of one over the other belongs not to the heart but to the mind that will declare the difference contentious…and unnecessary.

But I am listening to the voice singing those words. The voice is brought in by sonorous strings, followed by a wind instrument and that voice, half-pleading, half-declaring. The guitar comes in as the other instrument floats above the plucked strings. Something else starts to rise above the manmade tools of music, an instrument older that the history of human caring and passion. It is that voice. It does not deny the guitar its sweetness because by itself the voice has its own presence. The frustrated architect of words should listen now. The voice initiates a hushed divulgence as it touches the word minamahal, and with a restraint that could only come from innate vocal discipline, the voice goes up and hints a hairbreadth of sigh before it reaches the eternal declaration iniibig.

The singer has solved the deadlock of translation. In her voice, the two indistinct statements of deep caring have crystallized into two different sterling vocabularies. Listen again: the first line mines the most ordinary na into a pause, which creates a silence that numbs—and, perhaps, protects the lover from hurt—the first loving. Listen again, the next line urges how she cannot say it— Hindi ko masabi—how she cannot profess the love. The na has disappeared; in its place, the singer has placed a catch in her throat. It is a sorrow of the subtlest kind, but sorrow still.

The song, it seems, promises more sadness but the singer, with that delicate phrasing, assures us she will be good with those feelings, she will be decent, proper and beautiful in despair. We believe her.

The voice continues: Sa aking paghimlay, laging pangarap ka/Sa aking paggising, hinahanap kita.

In her repose, she dreams always of that love; in her wakefulness, she longs and looks for him. Kung ako’y nalulungkot at nagdurusa/ Nagbibigay buhay ay ikaw lamang sinta. When she is unhappy and in grief, the only one that gives her life is that love. The lines are maudlin and relentless but there is that voice again, tender in control, languid but not languishing,

touching but never tearful.

The voice is that of Cely Bautista.

A singer of songs of forgotten era, not remembered by many because the world has moved on to more vapid existence.

Only a fraction of the generations now living would care about her and those other singers—vocalists of rarefied talents—because love in that fleeting and pure state have become suspect.

Cely Bautista often is referred to as the Jukebox Queen of the 1950s.

The machine continued to be a barometer of commercial popularity well into the 1970s, which by that time, had assumed tawdry reputation. Jukebox singers were not only commercial; they, more often than not, proffered vulgar renditions of old songs. Revival they were called, these old songs were sung for the kitsch and the camp in their lines.

Remember that the social histories of the 1970s and the early-1980s had shifted: Reality had to be grim to be real.

It takes a travel in time to recover the old songs mangled by vocalists who laughed at the lines written for a different ethos. It takes a journey by way of Cely Bautista’s songs that these songs about unrequited love need not be about doormat relationships.

When a man leaves a woman in the songs of Cely Bautista, there is always that unmistakable decency in how the woman handles separation and aloneness.

The secret or perhaps not the secret but the revelation is in the phrasings of Cely Bautista.

“Hinahanap Kita” is a song that demonstrates how Cely Bautista avoids dramatizing the already intense lines. When she enters the song with the line, Hinahanap kita sa aking pangarap, (I look for you in my dream) she avoids what other interpreters of the song do with the song—to cut the kita from sa aking pangarap. It is tempting to shade deeper “You” and underscore “In my dream,” but Cely Bautista avoids that facile approach. She knows where the passion is and she locates that in the second line, the second time the word for searching (hinahanap) is uttered.

Words or phrases, for this singer,

intensify in hue only because the other words have been delicately shaded. One can have this sense that Cely Bautista is, in her singing, constantly checking the ardor and affection of the music she is going to share.

For the fans and vocal enthusiasts, it is a thrill discovering when the singer will underscore a line or word. The act of musical underlining is always done in stillness. This allows us to finally admit that songs in Tagalog or any other local languages are better rendered without the bravura of Western music.

Cely Bautista’s career cannot be written without mentioning the “Mabuhay Singers.” She became part of this choir, for they always sounded like a full-blown chorus and our musical history is never the same again without their sound.

Critics talk of the “Manila Sound” in the 1970s. And yet, from the 1950s down to the present, there was Cely Bautista, Ruben Tagalog, Larry Miranda, Cenon Lagman, Carmen Camacho, Raye Lucero, Naning Alba, Ador Torres and many others. Then there was the Mabuhay Singers.

They sang kundiman and balitaw; they arranged folk songs and ditties from the margins and rendered them in that rhythmic and jovial manner one associates with fiesta, rural life and the vanishing memories of landscapes. Where visual artists captured vistas of bygone eras, the Mabuhay Singers sang them. It remains a puzzle how this group has not been declared National Artists, if arts can be equated with a sense of nation or, at least, with those islands and towns and their music composing a valued notion of a country or a nation and identities.

In the 1970s Cely Bautista came back with a new collection of songs.

“Walang Kapantay” was one of these songs in that set. With a voice a bit brassier and darker, a lovely low register not emphasized, Cely Bautista showed the current singers then how to sing Tagalog songs.

The arrangement by Eddie Sangcap had jazz and blues in them, but the singer held on to those sincere, tender notes. Some of her songs even became part of soundtrack for movies.

Months back, Michael Coroza, poet and true cultural worker and himself an interpreter of kundiman, brought me to DWBR in his “Harana ng Puso.” There I met the living members of the Mabuhay Singers.

There I met the third person in that musical triune of Carmen Camacho and Cely Bautista. She is Raye Lucero, still with that magnificent contralto. She—with the rest of the Mabuhay Singers—had recruited young singers as if preparing for a battle to fight those who are forgetting our beautiful music. It was an unforgettable night.

I was not around when Raye Lucero and Cely Bautista performed a duet of Lucio San Pedro’s “Sa Ugoy ng Duyan” in voices that remained bright and brave through the years (YouTube has preserved that event for the good of our heritage).

That night, months back, Michael Coroza shared with me the sad news about Cely Bautista being sick and old.

The sadder news came on September 27, 2018: Cely Bautista had passed on.

It is common to describe outstanding songs as immortal. For Cely Bautista, that immortality is there in the songs she sang and in that voice that spoke of the only two perpetual mysteries in our life: love and the loss of love. The wonder of it is that Cely Bautista made those losses and breakups so beautiful that we can survive them forever.

The Angels must be joyous to have Cely Bautista there to teach them how divinity is found in arts as well, in those songs delivered through a voice that will always be—in lament or in living exuberance—about grace, symmetry and beauty.

Dios mabalos, Cely Bautista.

finds itself nowhere near the top of international basketball rankings.

Even a casual review of data can substantiate such criticism.

A comparison of six countries in terms of land use data from the Central Intelligence Agency World Factbook reveals Indonesia as having the largest total land area with 1,811,569 square kilometers, followed by Thailand with 510,890, Malaysia with 328,657, the Philippines with 298,170, South Korea with 96,920 and Singapore with 709. In terms of arable land per capita, however, it is Thailand that places on top with 0.57 acre per capita, followed by Indonesia with 0.22, the Philippines with 0.13, Malaysia with 0.08, South Korea with 0.07 and Singapore with 0.00 (due to rounding). What this suggests is that compared with more affluent economies like South Korea and Singapore, the Philippines seems to be more naturally endowed to produce its own food.

A closer examination of data from the Philippine Statistics

Authority reveals how land is being allocated to specific crops. For 2017, in terms of area planted/harvested, among 21 crops, it is palay (rice) that tops the list with 4,811,800 hectares, followed by coconut with 3,612,300, corn with 2,552,600, banana with 446,800, and sugarcane with 437,500. In terms of income generated per hectare, however, it is pineapple that tops the list with P386,189.39 per hectare, followed by banana with P330,453.00, onion with P300,934.43, cabbage with P270,189.87 and garlic with P255,846.15. Palay (rice) places at the bottom half of the list with just about P72,765.29 per hectare. What this suggests is that the Philippines is allocating disproportionately smaller areas of land to high-value crops, while the underperforming palay (rice) takes a lion’s share of area planted/harvested (about 35.62 percent of the total).

Unsurprisingly, poor outcomes are evident in the Global Food Security Index published by the Economist Intelligence Unit. Among the

six countries compared earlier in terms of land area, it is Singapore that ranks the highest (4 out of 113 countries included in the GFSI survey), followed by South Korea (24 out of 113), Malaysia (41 out of 113), Thailand (55 out of 113), Indonesia (69 out of 113), and the Philippines (79 out of 113). Despite having a natural disadvantage, South Korea and Singapore have managed to outperform the Philippines in terms of overall food security. Moreover, in terms of the subcomponents, the Philippines places last in “affordability” (77 out of 113), last in “availability” (80 out of 113), second to the last in “quality and safety” (69 out of 113 versus 86 out of 113 for Indonesia), and third from the bottom in “natural resources and resilience” (101 out of 113 versus 106 out of 113 for Singapore and 109 out of 113 for Indonesia).

Poor outcomes are also evident in the recent inflationary episode.

As reported by ABS-CBN, in August 2018, the inflation rate hit 6.4 percent, which is the highest in

almost 10 years. Food inflation was the main driver, with vegetable prices rising by 19.2 percent, corn prices rising by 12.6 percent, fish prices rising by 12.4 percent, meat prices rising by 7.6 percent, rice prices rising by 7.1 percent, and fruit prices rising by 6.2 percent.

Thus, with respect to Myrdal’s assertion, two insights are worth mentioning. One, the Philippines must choose its battles wisely. The agricultural sector is where heavy fighting has been taking place all these years, and yet policy responses have been wrongheaded and reactionary rather than wise and proactive. Two, the nature of the battle is more internal than external. With inflation taking a toll on day-today living, Filipinos are challenged to confront their own worst fears and tendencies. Focus and grit are two weapons that will hopefully change the tide of battle in favor of the Philippine economy.

E-mail: titovaliente@yahoo.com.

Ser Percival K. Peña-Reyes, Ph.D. teaches economics at the Ateneo de Manila University.

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Editor: Efleda P. Campos

Friday, October 5, 2018

B1

Holcim to help curb plastic-waste problem in PHL

By Roderick L. Abad

C

@rodrik_28

Contributor

ONSTRUCTION solutions firm Holcim is planning to increase its consumption of residual plastic wastes as alternative fuel in cement production to help the Philippine government in its wastemanagement efforts.

“Holcim Philippines is a committed partner in the country’s development and we are contributing more beyond building materials,” said John Stull, president and CEO of Holcim Philippines.

Based on the latest report of the United Nations Environment Program, the Philippines, China, Indonesia, Thailand and Vietnam account for more than 50 percent of plastic wastes that end up in bodies of water worldwide.

Several groups in the country support the use of waste-to-energy technologies as a safe measure to reduce plastics leaking into oceans.

While mainly known as a cement maker, Holcim Philippines is among those innovative organizations that contributes to the reduction of the country’s plastics concern. The company utilizes coprocessing technology, wherein qualified materials such as nonrecyclable plastics are used as an alternative to coal in producing cement, through its waste-management unit Geocycle.

Since the latter’s inception in 2010, Holcim Philippines has coprocessed over 25,000 metric tons of plastic wastes from different industrial partners and local governments. This practice lessens the firm’s conventional use of fuel while providing a sustainable waste-management option that helps mitigate plastic wastes ending up in landfills and oceans.

In coprocessing, waste materials like plastic are fed into the high-temperature kilns along with other raw components of cement. Such process completely eliminates the wastes and converts them to energy for cement production. Philippine authorities approved the technology, which is widely used globally for waste management because of its proven advantages in environmental and safety performance.

“Our Geocycle business is a clear example as it helps alleviate the country’s waste-management challenges, which is expected to grow along with the economy,” Stull said.

“Geocycle is stepping up engagement with the private sector and studying possible collaboration with a number of local governments on providing its coprocessing services,” he added.

Holcim’s waste-management arm is looking to have pilot projects with a number of localities in 2019 to show the advantages of its waste-management service over current alternatives such as landfilling.

The building solutions provider offers products ranging from structuring to finishing applications for infrastructure projects and even simple home repairs. It has cement manufacturing facilities in La Union, Bulacan, Misamis Oriental and Davao, as well as aggregates and dry-mix business and technical-support facilities for building solutions.

The cement manufacturer is a member of the LafargeHolcim Group present in 80 countries with over 80,000 employees.

The publicly listed firm reported its revenues reached P18.8 billion for the first half of 2018, or 8 percent higher than the P17.4 billion recorded during the same period last year, on the back of higher sales volumes of cement and aggregates. Net income, though, declined from P2.1 billion to P1.6 billion during the two periods in review.

Unilab unit to invest ₧500M to expand services outside Metro Manila

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ELIANCE Care Inc. (RCI), a subsidiary of the United Laboratories (Unilab), will invest P500 milliom in the next two years as part of expanding its presence to address the growing health requirements of people outside Metro Manila.

“We are in the process of building additional multispecialty clinics and facilities in response to the demand of the people in the southern part of Metro Manila and nearby areas,” RCI General Manager David San Pedro told the media in recent press briefing in Mandaluyong City.

San Pedro said the Philippines is a perfect market for health-technology solutions as its predominantly young population is facing health issues, such as hypertension, diabetes, cardio vascular disease, among others. “With a 105 million people, the recipe for health does not look good,” he said.

He said RCI will promote the outpatient health-care services to enable the people to access affordable health care to the patients. As an a outpatient, an individual will pay 30-percent less of his medical cost compared to if he’s confined in the hospital.

San Pedro said RCI just finished its ninth outpatient clinic in the Lima Technology Center in Cebu. It is also completing the construction of its 100-seat capacity dialysis center in Dasmariňas, Cavite. He added RCI will build more outpatient clinics in southern Metro Manila as the demand increases.

RCI also announced the formation of a strategic partnership with Philips Philippines to supply its HealthFirst multispecialty clinics and HealthFirst Device Centers with Philips medical devices, clinical workflow software and providing training to RCI health-care professionals.

Philips Philippines Country Manager and Health Systems Lead Ashwin Chari said the strong emphasis of the company on research and development helps in producing equipment for developing markets.

“Bringing in quality health equipment is just one element to the equation in this collaboration. What we are poised to deliver are solutions to work across the whole patient journey from home to hospital and back home,” he said.

Diederik Zeven, general manager, health systems, Philips Asean Pacific, said the company is also in the forefront using artificial intelligence to help patient management.

“I prefer to call it adaptive technology instead of artificial intelligence. It helps nurses detect early signs of the deterioration of the patient’s condition,” he said.

San Pedro said RCI will also explore offering Philips sleep-therapy solutions at its clinics and integrate Philips’s latest health-technology solutions on wearable sensors, patient monitoring, ultrasound, data analytics and AI. Rizal Raoul S. Reyes

B2

Companies BusinessMirror

Friday, October 5, 2018

PSE STOCK QUOTATIONS

October 4, 2018

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

ASIA UNITED 58 58.85 58.65 58.95 58 58 22560 1317405 BDO UNIBANK 116.6 117 120 120 116.1 117 1276180 150212172 BANK PH ISLANDS 80.5 81 81.3 81.3 80.5 80.5 878960 71076087 CHINABANK 28.85 29 29.95 29.95 28.75 29 8900 259300 EAST WEST BANK 12.36 12.4 12.6 12.6 12.4 12.4 442800 5532144 METROBANK 66 66.5 68.9 68.9 66 66 3359640 223408952.5 PB BANK 11.12 11.4 11.4 11.4 11.4 11.4 2500 28500 PHIL NATL BANK 42.7 42.8 42.9 43 42.6 42.7 37600 1609930 PSBANK 72.35 73.05 71 74.45 71 72.35 15350 1112088.5 PHILTRUST 103 123 100.2 100.2 100.2 100.2 40 4008 RCBC 25.6 25.7 25.7 25.7 25.65 25.7 5300 136060 SECURITY BANK 144.7 144.8 149.1 150 144.8 144.8 1200770 176390049 UNION BANK 65.95 66 66 66.05 65.95 66 13420 885782.5 BRIGHT KINDLE 1.45 1.55 1.47 1.55 1.45 1.55 200000 292900 BDO LEASING 2.4 2.5 2.56 2.56 2.4 2.4 36000 88690 COL FINANCIAL 15.04 15.94 16.16 16.16 15.94 15.94 76000 1216194 FERRONOUX HLDG 4.15 4.27 4.3 4.3 4.21 4.27 63000 267800 IREMIT 1.62 1.65 1.7 1.7 1.63 1.65 52000 85630 MEDCO HLDG 0.51 0.54 0.54 0.55 0.51 0.54 33000 17050 NTL REINSURANCE 0.92 0.95 0.93 0.93 0.93 0.93 2000 1860 SUN LIFE 1900 1919 1824 1900 1824 1900 635 1205740

INDUSTRIAL ALSONS CONS 1.26 1.27 1.26 1.27 1.26 1.27 961000 1211920 ABOITIZ POWER 33.5 34.3 33.75 34.3 33.5 34.3 1845700 62415540 BASIC ENERGY 0.22 0.222 0.223 0.223 0.22 0.22 60000 13350 ENERGY DEVT 7.07 7.08 7.07 7.08 7.07 7.07 950000 6719006 FIRST GEN 16.02 16.14 16.5 16.88 16.02 16.02 357100 5772670 FIRST PHIL HLDG 63.7 63.75 64.75 64.75 63.4 63.7 40200 2560866.5 PHIL H2O 4.8 4.93 4.75 4.94 4.75 4.93 60000 286690 MERALCO 352.6 355 358.8 359 350 355 104300 37140018 MANILA WATER 24.55 24.65 24.7 24.9 24.5 24.55 135200 3346065 PETRON 8.42 8.57 8.69 8.7 8.38 8.57 1071100 9085294 PETROENERGY 4.08 4.18 4.1 4.2 4.06 4.18 25000 102240 PHINMA ENERGY 0.95 0.96 0.96 0.96 0.94 0.96 492000 466500 PHX PETROLEUM 10.22 10.5 10.8 10.8 10.22 10.5 60400 629204 PILIPINAS SHELL 53.6 53.75 53.95 54 53 53.75 206930 11131963 SPC POWER 5.22 5.25 5.4 5.4 5.2 5.25 352000 1856147 AGRINURTURE 18.2 18.24 18.18 18.32 18.1 18.24 228300 4157816 BOGO MEDELLIN 100.1 110 100.1 100.1 100 100.1 750 75054 CNTRL AZUCARERA 17.9 17.94 18.82 19.7 17.98 17.98 500 9246 CENTURY FOOD 13.52 13.74 13.54 13.74 13.4 13.52 173200 2341460 DEL MONTE 7.22 7.4 7.38 7.39 6.55 7.39 8400 57784 DNL INDUS 9.9 9.91 9.89 9.92 9.76 9.9 742800 7348173 EMPERADOR 7 7.01 7.03 7.03 7 7.01 1013300 7104338 SMC FOODANDBEV 93 93.1 94 94 92.7 93 534150 49685724.5 ALLIANCE SELECT 1.01 1.02 1.03 1.03 1 1.01 2961000 2996520 GINEBRA 25.4 25.5 25.9 25.9 25.5 25.5 17000 436380 JOLLIBEE 251.8 252 253 255.4 251 252 359360 90694530 MAXS GROUP 11.2 11.26 11.38 11.38 11.02 11.26 86500 974230 MG HLDG 0.18 0.184 0.199 0.199 0.199 0.199 10000 1990 PEPSI COLA 1.76 1.8 1.8 1.8 1.76 1.8 49000 88160 SHAKEYS PIZZA 12 12.06 12.2 12.2 12.06 12.06 18000 217858 ROXAS AND CO 2.46 2.47 2.52 2.52 2.43 2.46 729000 1796760 RFM CORP 4.85 4.9 4.85 4.9 4.85 4.9 4000 19500 SWIFT FOODS 0.124 0.129 0.124 0.124 0.124 0.124 100000 12400 UNIV ROBINA 134 134.6 138 138 134 134 1033680 140813173 VITARICH 1.9 1.91 1.97 1.98 1.88 1.91 3162000 6073460 VICTORIAS 2.43 2.5 2.43 2.43 2.43 2.43 1000 2430 CONCRETE A 61 67 65 65 65 65 400 26000 CEMEX HLDG 2.25 2.28 2.45 2.5 2.21 2.25 5887000 13392010 EAGLE CEMENT 15.14 15.4 15.16 15.4 15.14 15.14 38300 580222 EEI CORP 8.33 8.35 8.4 8.41 8.35 8.35 69600 584246 HOLCIM 6.75 6.79 6.71 6.79 6.71 6.72 9900 66534 MEGAWIDE 14.38 14.4 14.74 14.88 14.4 14.4 1154800 16693832 PHINMA 8.95 9.06 9 9.08 8.95 9.06 112200 1009717 TKC METALS 0.97 1.03 1.03 1.03 1.03 1.03 3000 3090 VULCAN INDL 2.05 2.06 2.11 2.13 2.02 2.05 7977000 16409400 CROWN ASIA 1.71 1.73 1.61 1.75 1.61 1.72 114000 197820 LMG CHEMICALS 4.8 4.9 4.8 4.8 4.8 4.8 20000 96000 MABUHAY VINYL 3 3.39 3.14 3.39 3.1 3.39 11000 36460 PRYCE CORP 5.6 5.9 5.9 5.9 5.9 5.9 600 3540 CONCEPCION 38.5 38.6 40 40 38.6 38.6 12800 499730 INTEGRATED MICR 12.5 12.58 12.52 12.7 12.5 12.5 1379500 17253706 IONICS 1.86 1.89 1.9 1.9 1.85 1.86 402000 746210 PANASONIC 6.47 6.49 6.45 6.5 6.45 6.47 9800 63609 SFA SEMICON 1.6 1.62 1.55 1.65 1.55 1.6 1032000 1655070 CIRTEK HLDG 34.85 35.7 34.45 35.8 34.3 35.7 585900 20780365

HOLDING & FRIMS ABACORE CAPITAL 0.42 0.425 0.42 0.43 0.415 0.42 5560000 2347150 ASIABEST GROUP 27.5 27.75 28.2 28.2 27.2 27.75 52200 1446585 AYALA CORP 919.5 934 940 943 913 919.5 238320 221061510 ABOITIZ EQUITY 47.6 47.7 48.1 48.65 47.7 47.7 1757200 84233305 ALLIANCE GLOBAL 12.02 12.1 12.24 12.24 12.02 12.02 1013000 12217098 ANSCOR 6.11 6.13 6.11 6.11 6.11 6.11 20000 122200 ANGLO PHIL HLDG 0.88 0.93 0.97 0.97 0.88 0.88 111000 97970 ATN HLDG A 1.24 1.25 1.33 1.35 1.24 1.24 11657000 14901690 ATN HLDG B 1.26 1.27 1.35 1.35 1.27 1.27 2378000 3090320 COSCO CAPITAL 5.8 5.83 5.82 7 5.8 5.8 620400 3618245 DMCI HLDG 11.7 11.8 12.02 12.08 11.7 11.8 4765900 56511350 FILINVEST DEV 7.1 7.2 7.1 7.2 7.05 7.1 2209000 15684904 FJ PRINCE A 4.52 5.77 8.61 8.61 5 5.88 6500 40340 FORUM PACIFIC 0.19 0.203 0.195 0.203 0.195 0.203 110000 21690 GT CAPITAL 782 783.5 800 800 781 783.5 62360 49197475 JG SUMMIT 50.8 50.95 53.55 53.55 50.8 50.8 983050 50579839.5 LODESTAR 0.53 0.56 0.57 0.57 0.56 0.57 7000 3940 LOPEZ HLDG 4.44 4.65 4.84 4.84 4.44 4.65 103000 466120 LT GROUP 14.42 14.72 14.9 14.96 14.4 14.72 2754200 40644766 MABUHAY HLDG 0.55 0.58 0.56 0.6 0.55 0.55 1619000 905780 METRO PAC INV 4.81 4.85 4.82 4.86 4.75 4.85 11396000 54906190 PACIFICA 0.038 0.039 0.038 0.038 0.038 0.038 11500000 437000 PRIME ORION 2.39 2.43 2.42 2.43 2.39 2.43 520000 1250830 PRIME MEDIA 1.18 1.2 1.15 1.21 1.15 1.2 35000 40690 REPUBLIC GLASS 2.55 2.69 2.69 2.69 2.69 2.69 1000 2690 SOLID GROUP 1.39 1.4 1.43 1.43 1.39 1.4 888000 1235940 SM INVESTMENTS 872 875 859.5 878.5 859.5 875 734740 638115675 SAN MIGUEL CORP 169 169.4 168.9 169.4 167.9 169.4 265930 44867072 TOP FRONTIER 277 281 281 281 278 281 1440 404580 WELLEX INDUS 0.255 0.26 0.255 0.26 0.255 0.26 1530000 390900 ZEUS HLDG 0.19 0.213 0.22 0.22 0.187 0.213 40000 8070

PROPERTY ARTHALAND CORP 0.62 0.64 0.64 0.64 0.62 0.64 393000 247540 AYALA LAND 38.6 38.9 40 40.1 38.6 38.6 8641500 337868010 ARANETA PROP 1.96 2.05 2 2 2 2 25000 50000 BELLE CORP 2.43 2.47 2.43 2.49 2.43 2.43 311000 757480 A BROWN 0.8 0.82 0.83 0.84 0.82 0.82 871000 720650 CROWN EQUITIES 0.226 0.23 0.23 0.23 0.226 0.23 80000 18160 CEBU HLDG 5.28 5.3 5.3 5.3 5.28 5.3 19000 100640 CEB LANDMASTERS 4.38 4.4 4.4 4.59 4.35 4.4 313000 1388060 CENTURY PROP 0.435 0.44 0.435 0.44 0.435 0.435 1090000 474250 CYBER BAY 0.39 0.44 0.4 0.4 0.4 0.4 40000 16000 DOUBLEDRAGON 19.52 19.54 20 20.5 19.52 19.54 771100 15309266 DM WENCESLAO 8.3 8.4 8.27 8.41 8.27 8.3 70700 586649 EMPIRE EAST 0.54 0.55 0.55 0.55 0.54 0.54 534000 293100 EVER GOTESCO 0.103 0.11 0.11 0.11 0.11 0.11 320000 35200 FILINVEST LAND 1.45 1.46 1.44 1.47 1.44 1.45 2376000 3452180 GLOBAL ESTATE 1.11 1.13 1.15 1.15 1.11 1.11 15000 17110 8990 HLDG 7.08 7.25 7.27 7.29 7 7.25 242800 1740482 IRC PROP 2.37 2.38 2.44 2.48 2.33 2.37 10565000 25229210 MEGAWORLD 4.1 4.12 4.16 4.25 4.1 4.1 5536000 22827980 MRC ALLIED 0.62 0.63 0.64 0.64 0.62 0.63 17859000 11252570 PHIL ESTATES 0.44 0.45 0.45 0.45 0.44 0.44 1370000 603450 PRIMEX CORP 3.87 3.93 3.87 3.98 3.87 3.93 165000 640470 ROBINSONS LAND 19.68 19.76 20.3 20.3 19.6 19.68 422500 8382494 PHIL REALTY 0.415 0.435 0.435 0.435 0.415 0.415 400000 171300 ROCKWELL 1.95 1.96 2.03 2.03 1.96 1.96 61000 120420 SHANG PROP 3.1 3.18 3.19 3.19 3.19 3.19 1000 3190 STA LUCIA LAND 1.12 1.15 1.1 1.15 1.08 1.15 1069000 1176330 SM PRIME HLDG 34.05 34.1 34.6 34.6 34 34.1 7871700 268891255 STARMALLS 6.26 6.36 6.4 6.49 6.25 6.36 65000 409689 SUNTRUST HOME 0.74 0.78 0.76 0.76 0.74 0.74 239000 178940 PTFC REDEV CORP 31.6 40.85 31.5 31.5 31.5 31.5 45700 1439550 VISTA LAND 5.96 6 6.05 6.05 5.9 6 3043300 18188156

SERVICES ABS CBN 21.4 21.5 21.6 21.7 21.4 21.4 39100 844365 GMA NETWORK 5.27 5.35 5.36 5.36 5.28 5.3 248400 1316624 MANILA BULLETIN 0.42 0.44 0.42 0.47 0.42 0.47 380000 161950 GLOBE TELECOM 2182 2220 2210 2220 2198 2220 45970 101810630 PLDT 1392 1394 1400 1400 1380 1394 58595 81722290 APOLLO GLOBAL 0.04 0.041 0.041 0.041 0.04 0.04 3200000 129200 DFNN INC 8.5 8.94 8.51 8.52 8.5 8.5 5000 42558 IMPERIAL 1.92 2.04 2.04 2.04 2.04 2.04 13000 26520 ISLAND INFO 0.114 0.117 0.115 0.125 0.114 0.117 480000 57050 ISM COMM 2.37 2.39 2.35 2.43 2.35 2.37 3342000 7956280 JACKSTONES 3.1 3.2 3.11 3.27 3.11 3.2 39000 124650 NOW CORP 7.36 7.38 7.42 7.6 7.36 7.36 1202200 8959054 TRANSPACIFIC BR 0.54 0.55 0.57 0.58 0.54 0.54 43333000 23886890 PHILWEB 4.12 4.23 4.22 4.29 4.1 4.23 208000 884410 2GO GROUP 10.6 10.68 11 11 10.6 10.6 10500 112860 CEBU AIR 67.3 67.5 67.55 67.9 67.2 67.3 32140 2166407 CHELSEA 5.21 5.27 5.29 5.34 5.2 5.27 622400 3275719 INTL CONTAINER 94.15 94.6 95 95.1 94.15 94.15 742910 70297657.5 LBC EXPRESS 14.26 15 15 15 14.98 15 7200 107924 LORENZO SHIPPNG 0.89 0.91 0.89 0.9 0.89 0.9 64000 57060 MACROASIA 17.1 17.16 17 17.42 16.5 17.16 1182500 20192532 METROALLIANCE A 1.42 1.52 1.4 1.54 1.38 1.52 14000 20440 PAL HLDG 8.3 8.9 8.9 8.9 8.9 8.9 300 2670 HARBOR STAR 2.61 2.62 2.73 2.8 2.6 2.62 1238000 3292400 BOULEVARD HLDG 0.06 0.061 0.061 0.063 0.06 0.06 17810000 1079220 DISCOVERY WORLD 2.06 2.48 2.25 2.25 2.25 2.25 3000 6750 WATERFRONT 0.67 0.68 0.67 0.68 0.66 0.67 1283000 852820 FAR EASTERN U 890 900 890 890 890 890 100 89000 IPEOPLE 11.62 11.98 11.6 12 11.6 12 5800 67410 STI HLDG 0.8 0.81 0.89 0.89 0.77 0.8 24309000 19890480 BERJAYA 1.88 1.9 1.9 1.96 1.87 1.88 4169000 7983590 BLOOMBERRY 8.16 8.2 8.41 8.41 8.16 8.16 2446200 20272809 PACIFIC ONLINE 10.58 10.98 10.98 11 10.98 10.98 26000 285900 LEISURE AND RES 3.57 3.6 3.6 3.7 3.57 3.58 526000 1887440 MANILA JOCKEY 5.7 5.82 5.85 5.85 5.85 5.85 200 1170 MELCO RESORTS 7.08 7.09 7.08 7.1 7.06 7.08 6056900 42907120 PREMIUM LEISURE 0.85 0.86 0.86 0.86 0.85 0.85 1255000 1068110 TRAVELLERS 5.19 5.2 5.19 5.2 5.19 5.2 447100 2321974 METRO RETAIL 2.36 2.42 2.41 2.42 2.35 2.36 137000 325190 PUREGOLD 44 44.9 44 44.9 43.1 44.9 1054900 46460065 ROBINSONS RTL 79 80 79 79.2 77.05 79 1120940 88057278 PHIL SEVEN CORP 98 99 100 100 99 99 2030 202690 SSI GROUP 2.31 2.33 2.35 2.38 2.3 2.31 15839000 36946920 WILCON DEPOT 10.7 10.78 10.8 10.8 10.7 10.78 467600 5034340 APC GROUP 0.465 0.47 0.48 0.48 0.465 0.47 2040000 965250 EASYCALL 22.3 22.4 22.5 23.35 22.3 22.3 36000 805920 GOLDEN BRIA 304.4 313 302.4 313 302.4 313 710 220324 IPM HLDG 7.6 7.75 7.7 7.7 7.6 7.6 13300 101780 PAXYS 3.05 3.39 3.38 3.39 3.38 3.39 3000 10150 PRMIERE HORIZON 0.365 0.38 0.37 0.38 0.37 0.38 660000 245150 SBS PHIL CORP 7.35 7.62 7.4 7.5 7.2 7.5 38400 277277

MINING & OIL ATOK 17.04 17.88 19.5 19.5 17 17.04 36700 639136 APEX MINING 1.51 1.52 1.55 1.6 1.51 1.51 3737000 5797050 ABRA MINING 0.0024 0.0026 0.0024 0.0026 0.0024 0.0026 656000000 1608500 ATLAS MINING 2.91 2.98 2.9 2.95 2.9 2.95 35000 102060 BENGUET B 0.8 1.02 1.02 1.02 1.02 1.02 13000 13260 COAL ASIA HLDG 0.3 0.305 0.3 0.3 0.3 0.3 500000 150000 CENTURY PEAK 1.91 1.93 1.92 1.92 1.91 1.91 328000 628480 DIZON MINES 7.05 7.1 7 7.11 6.8 7.1 4700 33041 FERRONICKEL 1.82 1.83 1.84 1.85 1.81 1.83 499000 914020 GEOGRACE 0.202 0.205 0.202 0.203 0.201 0.203 340000 68920 LEPANTO A 0.11 0.115 0.109 0.116 0.109 0.115 3710000 426880 LEPANTO B 0.111 0.115 0.115 0.115 0.115 0.115 10000 1150 MARCVENTURES 1.19 1.2 1.3 1.3 1.2 1.2 82000 99280 NIHAO 1.05 1.1 1.16 1.2 1.1 1.1 11000 12440 NICKEL ASIA 4.26 4.31 4.3 4.31 4.25 4.26 730000 3130980 OMICO CORP 0.66 0.67 0.68 0.68 0.66 0.67 208000 138090 ORNTL PENINSULA 1.13 1.15 1.13 1.16 1.13 1.15 695000 797530 PX MINING 3.31 3.32 3.32 3.32 3.3 3.32 751000 2492720 SEMIRARA MINING 24.95 25 24.75 25.1 24.5 25 1055900 26381645 ORNTL PETROL A 0.013 0.014 0.014 0.014 0.013 0.013 17200000 233800 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.012 29900000 366100 PHINMA PETRO 3.5 3.74 3.85 3.85 3.5 3.5 79000 287870 PXP ENERGY 15.88 15.9 16.9 17.3 15.88 15.9 11304300 186617502

PREFFERED HOUSE PREF A AC PREF B2 ALCO PREF B DD PREF SMC FB PREF 2 FGEN PREF G GLO PREF P GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3B PCOR PREF 2A PCOR PREF 2B SMC PREF 2B SMC PREF 2C SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

95.2 485 100 100.2 982 102.5 470 901.5 1.01 100 102.1 1010 1006 75.05 76.2 74.95 74.6 74.6 74.5 74.5

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19 5.02

2.35

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.28 XURPAS 2.23

107

21000 -52945 -13778000 -23335535 -6821202 122200 -84620 469835 -118196 348480 -25422890 -4956532 152350 -3385050 237170 18298370 -48000 1289290 1126989 -94469075 -182060 -4080694 -260700 507130 11400 -281697 -526280 -8870340 3150 -1226377 -36443750 -18900 -3717365 34445130 -28593355 16400 463810 -93675 -129920 -290870 -7390 -1524686.5 61860 179678.5 -4367616 24140 -50910 1325330 15420 -3569883 -53920 -10561401 -481120 -9490 -1741445 -6827144.5 -53300 11222180 2490710 25210 -8760 -1020 77850 -384350 -846340 1636810 8319632

95 489.8 100.5 100.2 981 102.9 489 944.5 1.04 99.8 102.1 1010 1049 75 77 73.4 75 75 75 75

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95 489.8 100.5 100.2 981 102.9 489 944.5 1.04 99.8 102.1 1010 1049 75 76.3 73.4 75 75 74.5 74.5

98 490 100.5 100.5 1000 103 489 945 1.04 99.8 102.1 1010 1050 75 76.3 75 75 75.2 75 75

990 240 5500 14020 4830 220 500 800 2000 500 980 50 475 10000 46410 34710 15990 3570 9010 4010

94820 117592 552750 1407820 4823782.5 22640 244500 755980 2080 49900 100243 50500 498650 750000 3544775 2565528 1199250 267862 671750 299700

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5.37 2.33

5.4 2.33

5.28 2.12

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399500 953000

2131305 2122440

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EXHANGE TRADE FUNDS FIRST METRO ETF

42222625 -3674664 -742028 757217.5 -47600 6269796 871905 -347343 12540 960 -49932 2247677 221248 1505968 2403261 -3961181 10957890.5 -5050 -20817696 -495440 -88160 -129042 -7317747 281660 -7984970 -504840 -8840446 102000 -417450 7804910 -185230 -89450

97.9 502 100.5 100.5 1000 103 492 945 1.02 103 109 1074 1048 76.45 76.3 75 75 75.2 75 75

WARRANTS LR WARRANT

348650 -17096886 -18814518.5 -17485 290346 -63526214.5 5700 -540840 -616433 -67457901 -223054 278300 -

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www.businessmirror.com.ph

Fortinet sees PHL as huge market for cybersecurity

F

By Lorenz S. Marasigan

@lorenzmarasigan

ORTINET, a cybersecurity company that holds a quarter of the total market share in the Philippines, sees a huge opportunity in the local cybersecurity market as more and more companies implement their own digital transformation efforts, initiatives that need to be complemented with tighter and more advanced security.

Louie R. Castaneda, the country manager of Fortinet in the Philippines, said the US-based company

finds the country as a “very important” market, given the huge need for cybersecurity products

from small, medium and large enterprises.

“The Philippines is one of the fastest-growing countries in Southeast Asia, so it is a very important market for us. We see a lot of potential in it, so we are investing heavily to grow the company,” he said in an interview.

Currently, Fortinet holds roughly 25 percent of the total market share in the cybersecurity industry.

“I would want that to be higher.

We are aiming for at least a 30-percent market share. But if you look at the market, it is also growing in terms of total addressable market. A lot of companies are now undergoing digital transformation,” Castaneda said.

Digital transformation—or DX—is the continuous process by which enterprises adapt to or

drive disruptive changes in their customers and markets by leveraging digital competencies to create new business models, products and services.

Simply put, DX seamlessly blends “digital and physical business and customer experiences while improving operational efficiencies and organizational performance.”

Given this, companies also need to secure their data and technologies more, Fortinet Principal Consultant for Southeast Asia Anthony Lim said.

“In embracing new technologies, you also need to embrace security transformation, so as to ensure that you are able to maintain security even if you reach other markets,” he said.

Transcom: BPO industry is evolving, looking for more nonvoice workers

By VG Cabuag

@villygc

B

USINESS- PROCESS outsourcing firm Transcom AB Holding said the industry is changing as it moves toward nonvoice services, which means it will look for local workers that has good command of the English language in both in spoken and written forms.

Michael Weinreich, Transcom president and CEO, said the global BPO industry is evolving and expects its nonvoice services—such as answering e-mails and making posts on the social media in behalf of their clients—will increase its percentage versus the voice services.

Weinreich said the industry has a voice and nonvoice split of about 80 percent and 20 percent, respectively. Transcom’s ratio of voice and nonvoice is about 70-30, since it has diverse clients, he said.

“We expect this will further change toward nonvoice and this really changed the profile of the people we are looking for,” Weinreich, who is based on Stockholm, said during his visit in the country.

Transcom is the largest Swedishowned BPO in the country, employing about 9,000 people all over the Philippines.

“So this is the skill you require, you need to make sure that the BPO workers are up to it,” he said. “In the old days, you have a telephone conversation one-on-one conversation. So the result of training is

measured in one telephone call.

Now, we are managing social media and Instagram posts. One post that’s written by an agent can be read by hundreds of thousands, if not millions, of users. The result of responsibility is very much growing. That really requires us to look more carefully. We are hiring the right people more carefully.”

The Philippines already hosts a third of Transcom’s global operations of about 27,000 people across 20 other countries and 33 languages.

Mark Lyndsell, the company’s CEO for the English region, said the company will add 6,000 people to its current work force to bring it to 15,000 in about two years.

“We are absolutely on track with that. We invested heavily with our sales capabilities, especially with our North American operations. That represents a huge opportunity for our Philippines operations. I absolutely believe that in the next two years, we will see growth which we will lead us to the next 15,000 employees,” Lynsell said.

Transcom recently acquired Davao-based Awesome OS, a BPO company that has e-commerce clients in the US. It has approximately 2,000 employees, with the majority of their offerings in digital or nonvoice services such as e-mails, chat and back-office support.

Awesome OS was founded in 2006

by Johnny Cheng, Edmund Lee and Anastacio Cubos III.

Panay Power in hot water for failing to refund ₧631 million to customers

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HE Energy Regulatory Commission (ERC) has castigated the Panay Electric Co. (Peco), the sole electricity supplier in Iloilo City, for failing to refund P631 million in overbilling to its customers, adding to its woes following multiple complaints recently from customers over bills that rose by as much as 1,000 percent under a new metering scheme.

Officials of the ERC told the House Committee on Legislative Franchises that the Cacho familyowned electric utility has failed to fully comply with its directive in 2004 to refund the P631 million in overbilling discovered after customers complained they were billed for unused electricity.

The complaint from the ERC further complicated Peco’s situation and fueled the position of many members of the House Legislative Franchises Committee to deny Peco a renewal of its 90-year-old franchise, which

would be expiring in January 2019.

Iloilo City Councilor Joshua Alim informed the House committee the ERC also needed to step in early this year to address multiple complaints from Iloilo residents that the utility firm suddenly raised their bills by as much as 1,000 percent without informing them of the reason.

Alim informed the House committee that a resolution is pending in the Iloilo City Council asking the national government to deny Peco a new franchise and for the government to take over the operations of the utility “until such time that another qualified distribution utility may come in.”

Councilor R. Leone Gerochi, author of the resolution, noted that in several cases lodged with the ERC by cause-oriented groups, Peco was “declared to have overcharged its customers on several occasions and seems to have a penchant for overbilling its consumers.”

MUTUAL FUNDS

October 3, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 245.81 -13% -0.17% 1.31% -16.16% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3933 -14.54% 4.79% 2.38% -12.74% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8229 -13.33% 1.3% 0.27% -16.76% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8754 -13.03% N.A. N.A. -13.92% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8078 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.1142 -10.76% -1.18% 0.67% -14.95% MBG EQUITY INVESTMENT FUND, INC. * ****** 116.72 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8151 -16.42% N.A. N.A. -17.89% PAMI EQUITY INDEX FUND, INC.* 47.8017 -11.53% 0.86% N.A. -15.23% PHILAM STRATEGIC GROWTH FUND, INC.* 497.2 -12.7% -0.55% 0.04% -15.51% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2243 -9.74% 1.26% N.A. -12.82% PHILEQUITY FUND, INC.* 35.6625 -9.25% 1.82% 3.16% -13.22% PHILEQUITY PSE INDEX FUND INC.* 4.8058 -11.45% 1.56% 3.23% -15.3% PHILIPPINE STOCK INDEX FUND CORP.* 802.08 -11.43% 1.33% 2.97% -15.19% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8299 -11.31% -1.09% N.A. -14.19% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.958 -10.13% 1.16% 1.7% -13.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9253 -11.68% 1.39% N.A. -15.37% UNITED FUND, INC.* 3.3984 -8.09% 2.37% 1.48% -12.73% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** 107.2731 -10.93% 2.55% N.A. -14.83% ATRAM ASIAPLUS EQUITY FUND, INC.** $1.0169 -2.02% 5.74% 1.33% -8.25% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.3053 9.36% N.A. N.A. 3.17% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6257 -10.53% -2.74% -1.64% -12.76% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1764 -9.33% 0.37% 0.47% -11.42% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4891 -7.82% -2.78% -2.24% -10.14% GREPALIFE BALANCED FUND CORPORATION* **** 1.2923 -9.63% N.A. N.A. -11.18% NCM MUTUAL FUND OF THE PHILS., INC* 1.8093 -6.51% 0.4% 0.5% -9.19% PAMI HORIZON FUND, INC.* 3.4375 -10.6% -1.39% -0.63% -12.27% PHILAM FUND, INC.* 15.4317 -10.68% -1.36% -0.65% -12.11% SOLIDARITAS FUND, INC.* ******** 2.0278 -7.8% 0.28% 1.96% -9.56% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.5935 -7.67% -0.17% 0.55% -10.08% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.917 -7.63% -0.44% N.A. -10.12% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03506 -2.64% -0.01% 2.21% -2.88% PAMI ASIA BALANCED FUND, INC.* $0.9851 -2.18% 4.42% -0.27% -5.91% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.6871 5.4% 6.89% 3.75% 0.95% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0955 0.64% N.A. N.A. -1.5% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.54 1.49% 1.78% 1.74% 1.31% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8578 -2.5% -1.1% -0.23% -1.82% COCOLIFE FIXED INCOME FUND, INC.* 2.9364 5.53% 5.31% 5.35% 4.05% EKKLESIA MUTUAL FUND INC.* 2.1188 -0.16% 1.04% 1.09% 0.79% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2158 -0.09% -0.01% 0.4% -0.02% GREPALIFE FIXED INCOME FUND CORP.* P 1.5755 -2.23% -1.51% -1.35% -2.11% PHILAM BOND FUND, INC.* 3.8147 -7.03% -1.97% -0.96% -5.81% PHILEQUITY PESO BOND FUND, INC.* 3.4667 -0.58% -0.49% 0.13% -1.09% SOLDIVO BOND FUND, INC. * 0.8795 -5.72% -2.22% N.A. -4.73% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7601 -0.25% 0.15% 0.44% -0.61% SUN LIFE PROSPERITY GS FUND, INC.* 1.532 -1.17% -0.38% -0.21% -1.14% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.52 0.25% 2.32% 3.16% -0.09% ALFM EURO BOND FUND, INC. * Є213.25 0.5% 1.4% 1.67% -0.22% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1209 -0.94% 1.06% 1.83% -1.16% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -0.8% 0.82% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6997 -4.34% -0.06% 1.49% -4.05% 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* $1.0303 -4.5% -1.23% -2.59% -4.02% PHILAM DOLLAR BOND FUND, INC.* $2.1693 -3.1% 1.09% 2.81% -3.63% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568809 -0.9% 0.97% 2.05% -0.56% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8932 -4.06% 0.91% 1.97% -3.97% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 119.82 2.26% 1.65% 1.44% 1.88% PHILAM MANAGED INCOME FUND, INC.* 1.1733 1.69% 0.35% 0.37% 1.37% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2086 2.41% 2.13% 1.38% 1.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0108 N.A. N.A. N.A. 1.21%

* - 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

World Companies Editor: Angel R. Calso

Friday, October 5, 2018 B3

SoftBank-Toyota joint venture on ride-hailing, self-driving cars

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APAN’S SoftBank Group Corp. and Toyota Motor Corp. are betting on a future when consumers and businesses will order up their transportation needs on demand, forming a new venture that will develop and deploy ride-hailing and selfdriving car technologies.

Monet Technologies Corp. will initially introduce ride-hailing services for Japanese public agencies and private companies, followed by a rollout of autonomous vehicles in 2020, the two companies said at a joint briefing in Tokyo on Thursday. After Japan Monet will expand globally, they said.

The tech investor conglomerate and Asia’s biggest carmaker are seeking to catch up in an area where US technology and car companies have taken the lead.

It’s the first significant collaboration between SoftBank and Toyota, which have already poured billions of dollars into ride-hailing start-ups. The Japanese companies are seeking a new avenue to increase their foothold in automated driving and ride-sharing services, which are threatening to disrupt the car and transport markets.

“Toyota doesn’t have the choice to ignore this business,” said Koji Endo, an analyst at SBI Securities. “It has to start the experiment, otherwise somebody else will do it instead.”

SoftBank will own just over 50 percent of the venture, while Toyota will control the rest. It will be initially capitalized at ¥2 billion ($17.5 million), and eventually reach ¥10 billion as needed, they said. SoftBank and Toyota said they see the venture providing a variety of services, such as meal-delivery vehicles in which food is prepared on the move, hospital shuttles where on-board medical examinations can be performed and mobile offices. “The mobility company is just the first step,” SoftBank Founder Masayoshi Son said in an on-stage conversation with Toyota President Akio Toyoda. “There will be a second and third, and I hope that the connection will deepen going forward.”

The fledgling self-driving industry is led by General Motors Co.’s (GM) Cruise unit along with Waymo, the autonomous unit of Alphabet Inc.’s Google, while companies, such as Uber Technologies Inc., and Tesla Inc., are also pushing deeper

into the sector. Toyota and SoftBank have so far separately made investments in such ventures. Monet won’t develop self-driving cars, but will focus on business applications utilizing them.

Son’s Vision Fund is the biggest shareholder in Uber, into which Toyota invested $500 million in August. The two have also backed Southeast Asia ride-hailing service Grab. While Toyota has been developing its own self-driving technology, SoftBank has taken stakes in GM’s Cruise and Manbang Group, China’s Uber-like truck-rental company.

On Wednesday GM’s Cruise drew its second major investment in a matter of months, with Honda Motor Co. committing to spend $2.75 billion to back the company and joining forces to bring autonomous vehicles to market.

The partnership will strengthen GM’s position as one of the front-runners in the packed race to bring self-driving vehicles to market.

“The auto industry is faced with a sweeping, once-in-a-century shift,’’ Toyoda said.

Son is one of the most influential investors in ride-hailing. Besides Uber and Grab, he has also invested billions into China’s Didi Chuxing and India’s Ola. At the same time, Toyoda is seeking an edge over rivals as carmakers prepare for an uncertain future in which automated driving and the sharing economy threaten to displace the traditional model of vehicle ownership.

Autonomous vehicle-based transportation services is a competency that needs to be built from scratch, said Vivek Vaidya, Asia Pacific vice president for automotive and transport at Frost & Sullivan in Singapore.

“Partnerships are the way to go,” Vaidya said. “Softbank has various strategic investments in e-hailing companies and now they have started expanding in developing new chip specifically for autonomous cars. Toyota may want to benefit from that.” Bloomberg News

Facebook faces EU privacy probe under new beefed-up data rules

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ACEBOOK Inc. has become the first big test case for the European Union’s (EU) beefed-up privacy rules as Ireland’s data watchdog opened a probe into a security breach announced last week that affected as many as 50 million accounts.

Ireland’s data-protection authority on Wednesday said it has started investigating whether Facebook had “appropriate technical and organizational measures” in place to protect its users’ personal data.

While not the first European probe into Facebook, it’s the first under the EU’s new data rules, which could lead to fines of as much as 4 percent of a company’s annual sales.

Facebook informed the Irish authority “that their internal investigation is continuing and that the company continues to take remedial actions to mitigate the potential risk to users,” the regulator said in a tweet, as it announced its probe.

Facebook said in a statement that it’s in close contact with the regulator and “will continue to cooperate with their investigation.”

The breach adds more pressure to the US social-media giant, which is still reeling from the separate scandal this year stemming from the revelation that data belonging to as many as 87 million Facebook users and their friends may have been misused by a political consultancy that helped get President Donald J. Trump

elected. That breach was called a game changer as it happened shortly before the EU’s new law, called General Data Protection Regulation (GDPR), took effect across the 28-nation bloc on May 25.

EU Justice Commissioner Vera Jourova, who pushed through GDPR, tweeted on Wednesday that she had spoken to the Irish privacy commissioner, Helen Dixon, to welcome the probe and give “my full support in getting to the bottom of this story.”

Jourova told reporters in Luxembourg on Tuesday that the latest Facebook breach is the “first big test case” for GDPR. Under the rules, the Irish regulator is taking the lead in the EU because Facebook has its European base in the country.

Regulators under the old regime lacked the teeth they needed to levy fines that could really bite. The UK watchdog, which has been probing the Cambridge Analytica scandal, said in July that Facebook could face a fine of as much as £500,000 ($647,000) over its failures to prevent a breach. That’s the maximum penalty the regulator could levy before, and this still applies for any violations that happened before GDPR took effect on May 25.

The US Federal Trade Commission’s chairman has signaled that his staff is also looking into the recent breach.

Bloomberg News

Sports BusinessMirror

C1

| friday, October 5, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THE exterior of Wembley Stadium in London is shown in this photo. AP

ALL ABOUT PRESTIGE

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By Rob Harris The Associated Press

ONDON—Britain is looking to host up to 60 major sporting events over the next 15 years, including soccer’s World Cup, to assert global influence and attract trade deals in the uncertainty after Brexit.

The strategy by the UK Sport government agency was announced on Wednesday with the country in the midst of a protracted divorce from the European Union to implement the result of the 2016 referendum and strike new international alliances.

Building on the success of the 2012 Olympics in London and the English Premier League, hosting major sporting events is now seen as a key instrument of soft power by British Prime Minister Theresa May’s government.

“This is us thinking about...where the country finds itself right now and the big challenges it has over the next decade, how we can use sport to help the country,” UK Sport Chief Operating Officer Simon Morton said. “It feels to me like for the first time in decades our country is going to be in a little bit of nation-building.”

English soccer officials have launched a feasibility study into bidding for the Fifa World Cup in 2030 not only in partnership with the rest of the UK—Scotland, Wales and Northern Ireland—but also Ireland.

“The last five years really for us as a country we’ve been talking about our own identity, whether it’s the strength of our unions the United Kingdom or it’s how overseas people see us either in Europe or the rest of the world,” Morton said. “So Brexit is a massive factor behind this. We want to think about how we can use sport and sporting events to really showcase the best of the UK to the world.”

Drawing on the victory by the United States, Canada

and Mexico in landing the 2026 World Cup, a British Isles entry is seen as essential to attracting votes in the new system that gives every soccer nation a say in the decision.

England last hosted the World Cup in 1966 when it won on home soil. Two bids have failed since then, and there was anger in the English Football Association and British government about the decision to hand the 2018 tournament to Russia. The feasibility study will include an assessment over whether Fifa’s votes can be more trusted since Gianni Infantino replaced Sepp Blatter in 2016 and the electorate was expanded with a public vote.

“We have to recognize that process that Fifa has just used [for the 2026 World Cup] was significantly better than before, significantly more transparent than before,” Morton said. “But everybody remembers the process of the last decade.

So the FA is doing a feasibility study to look at whether we should bid.”

There is less to consider about bids for other world championships.

Plans are in place to bring the men’s and women’s Rugby World Cup back to the country, as well

Champ Koepka heartbroken, messed up

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AINT ANDREWS, Scotland—Brooks Koepka is thinking about more than just golf these days.

The 28-year-old American, the US Open and Professional Golfers Association Championship winner, said on Wednesday he was heartbroken to hear a woman struck by his tee shot at the Ryder Cup last week might lose vision in her right eye.

Koepka’s wild shot on the sixth hole at Le Golf National hit Corine Remande in the head. According to French media reports, doctors say she has lost sight and she is considering legal action.

“No one feels worse about this than I do. It’s a tragic accident,” said Koepka, adding he has been trying to get in touch with Remande. “I’m heartbroken and all messed up inside. It’s sad and I really am torn up about it. She’s not going to be able to see out of her eye ever again. All because I hit a golf ball. This is definitely the one shot in my career that I am going to regret.”

Koepka, who is in Scotland to play at the Alfred Dunhill Links Championship, also said he and Dustin Johnson did not have an argument or a fight during a party after the Ryder Cup. “This Dustin thing I don’t get,” Koepka said. “There was no fight.

There was no argument. He is one of my best friends. I love the kid to death. We talked on the phone Monday and yesterday. So tell me how we fought? I don’t know.

“It’s actually quite funny to us. How could we get into a fight on the flight over? We were sleeping. It’s just laughable. I’d actually be curious to see who would win that fight, though. It would be interesting. It would be rough and rowdy. But we have never fought. That’s not our relationship. We are two even-keeled guys. I can’t remember raising my voice to him. And I don’t think he has ever raised his voice to me. Ever, in our four years of friendship. That’s not who we are.” AP

AVID FAN

A supporter of Japan team cheers during the first round of the UL International Crown golf tournament at the Jack Nicklaus Golf Club Korea in Incheon, South Korea, on Thursday. AP

BROOKS KOEPKA: No one feels worse about this than I do. AP

as the world championships for athletics, badminton, boxing, canoe slalom, curling and gymnastics.

With British cyclists holding the three titles from the major races for the first time, an attempt will be made to host the starts of the Tour de France, Giro d’Italia and Spanish Vuelta. The Ryder Cup has been held twice in Britain in the last eight years—in Wales and Scotland— and an attempt will be made to stage it again.

Hosting the events is about more than prestige for Britain.

“They are really important in terms of projecting an image to the world as an open nation,” Morton said. “In terms of trade it’s also important.”

May, meanwhile, battled to unite her Conservative Party on Wednesday, telling critics to abandon their dreams of a “perfect” Brexit and “come together” as divorce negotiations with the European Union enter their tough final phase.

May took on her detractors in a punchy address to the party’s annual conference, a day after a rival, former Foreign Secretary Boris Johnson, challenged her authority with a crowd-pleasing speech of his own.

“If we all go off in different directions in pursuit of our own visions of the perfect Brexit, we risk ending up with no Brexit at all,” May said in a warning to Johnson and others who aim to oust her or force her to change course.

“A Brexit that might make Britain stronger 50 years from now is no good to you if it makes your life harder today,” she noted.

Britain’s governing party is deeply divided over the country’s impending departure from the EU, with pro- and anti-EU camps both criticizing the prime

minister’s negotiations with the bloc.

With just under six months until Britain leaves the EU on March 29, the speech on Wednesday was an attempt

by May to solve her Brexit conundrum.

The EU has rejected her proposed Brexit deal and demanded new ideas from Britain. But pro-Brexit members of May’s Conservative government oppose any softening of the UK’s stance.

So the negotiations with the EU have ground to a halt, UK businesses are growing jittery and Conservative Brexiteers like Johnson are demanding that the UK make a clean break with the bloc—deal or no deal.

Less than three weeks before a make-or-break EU summit in Brussels, May said divorce talks were entering their “toughest phase.”

But she rejected calls by Euroskeptics to walk away from the talks, saying that “leaving without a deal— introducing tariffs and costly checks at the border— would be a bad outcome for the UK and the EU.” May’s speech was a direct riposte to Johnson, who told a rapturous audience on Tuesday that May’s proposal for close post-Brexit economic ties with the EU was an “outrage” that would leave Britain unable to strike new trade deals around the world.

May defended her Brexit blueprint, which aims to keep Britain aligned with many EU rules in return for remaining in the bloc’s single market for goods. She argued that her plan would preserve the frictionless trade that many businesses depend on, while ensuring “no change whatsoever” to Northern Ireland’s border with Ireland.

The UK and the EU agree there must be no customs checks or other barriers along the currently invisible border between the UK’s Northern Ireland and EU member Ireland. But they don’t agree on how to achieve that, and the issue remains the biggest obstacle to a Brexit deal.

UNDERGROUND ECONOMY IN COLLEGE HOOPS EXPOSED

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EW YORK—A New Jersey financial adviser-turned-bag man in a college basketball corruption scandal testified on Wednesday about a clandestine mission last year to deliver an envelope with $19,400 in cash to the father of a highly sought-after prospect.

Munish Sood took the witness stand at the federal trial of three men charged in an alleged scheme to funnel secret payments to the family of Louisville recruit Brian Bowen Jr. and other hot prospects.

As he testified in federal court in Manhattan, prosecutors played a wiretap of him telling his business partner, aspiring sports agent Christopher Dawkins, about his misgivings over the money drop he was making at an office building parking lot.

This “makes me nervous,” Sood said, using profanity. “I just don’t want this to be a habit.”

Sood, who has pleaded guilty to bribery and agreed to cooperate, testified that the payment was made in cash rather than check because “it was clean.”

The testimony came on the third day of the conspiracy trial of Dawkins,

former amateur basketball director Merl Code and former Adidas Executive James Gatto. All three men have pleaded not guilty in the scandal that drove Bowen out of college basketball and resulted in the firing of Louisville Coach Rick Pitino, who wasn’t charged and denies any wrongdoing.

The case has cast a harsh light on an underground economy where middlemen used money from Adidas and other big athletic wear companies competed with one another to ply the families of hot prospects with money and gear, sometimes called “shoe wars.” In return, the young players were expected to attend programs sponsored by the companies and, if they went pro, hire the middlemen as agents or financial managers.

The defense hasn’t challenged the government’s claim that the payments violated National Collegiate Athletic Association rules protecting players’ amateur status. But they have disputed claims that major universities were defrauded, since the effort to steer blue-chip prospects translated into big money for their programs.

In a secretly recorded hotel room meeting from 2017 that the jury heard on Wednesday, Code could be heard explaining that the payments, which reach $100,000 or more, ran risks, since the middlemen have no recourse if the young players wash out or simply walk away from an agreement to go to a particular school.

“We’re not supposed to be giving them $100,000 anyway,” he said on tape.

Sood, 46, testified that after he met Dawkins, he agreed to use money from his business to front money that would be doled out to recruits’ families. In return, he hoped, he would win enough favor that the players would hire him to manage fortunes from signing National Basketball Association contracts.

Despite the guilty plea, Sood said he’s still running a financial firm in Princeton, New Jersey, while he awaits sentencing. He also said he still advises pro-athlete clients, including Kyle Kuzma, of the Los Angeles Lakers. AP

Spo

Business

C2 Friday, October 5, 2018

I.O.C. THREATENS TO DROP BOXING FROM OLYMPICS L

AUSANNE, Switzerland—The International Olympic Committee (IOC) has reiterated its threat to drop boxing from the Olympics, expressing “extreme concern” with how the sport is run after a businessman from Uzbekistan who has been accused by US authorities of having ties to organized crime was announced to be running unopposed for president of the amateur boxing association.

Aiba’s document of “approved candidates” lists Gafur Rakhimov as the only choice ahead of next month’s presidential elections in Moscow. It wasn’t immediately clear why a rival candidate, the former Olympic medalist Serik Konakbayev, didn’t make the list.

Rakhimov was described by the United States Treasury Department last year as “one of Uzbekistan’s leading criminals and an important person involved in the heroin trade.”

The Treasury Department’s Office of Foreign Assets Control froze Rakhimov’s assets in American jurisdiction and prohibited Americans from “conducting financial or other transactions” with him.

Following the announcement that Rakhimov would run unopposed, the IOC said its board “expressed its ongoing extreme concern with the grave situation” at Aiba.

“The IOC reiterates its clear position that if the governance issues are not properly addressed to the satisfaction of the IOC at the forthcoming Aiba Congress, the existence of boxing on the Olympic program and even the recognition of Aiba as an International Federation recognized by the IOC are under threat.”

Since February the IOC has warned boxing could be cut from the 2020 Olympics. The sport

MAGNOLIA’S Romeo Travis loses the ball against Columbian Dyip’s Glenn Khombutin during Wednesday night’s game.

The Hotshots won, 113-95.

NONOY LACZA

GAFUR RAKHIMOV is described by the US Treasury Department as “one of Uzbekistan’s leading criminals and an important person involved in the heroin trade.”

has been on the program at every Olympics since 1920 despite regular controversies over judging and allegations of fixed bouts.

Rakhimov has been serving as interim president of Aiba after the long-serving C.K. Wu resigned last year following internal disputes and allegations of grave financial problems at the governing body, which oversees amateur boxing, Olympic events and holds some of its own pro competitions.

In a sign of ongoing power struggles, Aiba said on Tuesday that its upcoming congress would vote on whether to ban Wu and another official, Ho Kim, for life, citing what executive director Tom Virgets called “the gross negligence and financial mismanagement of the previous leadership.”

The Aiba executive committee also voted to suspend one of Rakhimov’s most influential opponents within the association, Franco Falcinelli, head of the European Boxing Confederation. AP

Road Warriors take on Kings

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LEX tries to upset an undermanned Barangay Ginebra as the Road Warriors aim for a top 4 finish in the Philippine Basketball Association (PBA) Governors’ Cup on Friday at the Smart Araneta Coliseum.

Tip-off is 7 p.m., with the Road Warriors (4-2 won-lost) all buckled up to challenge the defending champions Gin Kings (5-1), who are sorely missing key players approaching the halfway mark of the elimination round.

Fresh from a fourth-place finish in the 2018 Fiba Asia Champions Cup, Meralco (1-3) tries to end a twogame slide against Blackwater (4-1) at 4:30 p.m.

NLEX scored a huge 124-106 win over Blackwater last week to halt the Elite’s fourgame streak and give returning Coach Yeng Guiao

a warm welcome from his stints as national mentor in the 18th Asian Games and Fiba World Cup Asian Qualifiers.

Guiao hopes to share his international experience to his players as they target a twice-tobeat advantage in the quarterfinals.

“I was excited to coach just to get the feel of the PBA again. I have acquired many lessons and learning from the international stints that I want to apply to NLEX,” Guiao said.

“We want to stay in the fight for the top 4. And that win gives us some momentum going into the game against Ginebra. We need all the confidence we can get,” he added.

Despite a depleted lineup, Barangay Ginebra is still on top with Magnolia as its players continue to recuperate from injuries.

The Gin Kings survived the Phoenix Fuel Masters, 101-99, without Sol Mercado (knee), Japeth Aguilar (calf), Greg Slaughter (ankle) and Jervy Cruz (bone spur).

They are expected to rely on import Justin Brownlee, Scottie Thompson, LA Tenorio and Jeff Chan.

The Road Warriors, meanwhile, have reinforcement Aaron Fuller, JR Quinahan, Larry Fonacier and Alex Mallari.

Ramon Rafael Bonilla

OLYMPIAD BETS POST CRUCIAL VICTORIES

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HE Philippine men’s team turned back Zambia, 2.5-1.5, while the women’s squad routed South Korea, 3-1, to bolster their chances after nine rounds of the 43rd World Chess Olympiad in Batumi, Georgia, on Wednesday night.

International Master Jan Emmanuel Garcia provided the lone victory—a 60-move triumph over Kela Kaulule Siame of an English Opening on board three—for the Filipinos as Grandmasters (GMs) Julio Catalino Sadorra and John Paul Gomez and IM Haridas Pascua drew with IM Andrew Kayonde, FIDE Master Douglas Munebga and Prince Daniel Mulenga on boards one, two and four, respectively.

The 54th-seeded Philippines is now in a 14-country tie for 20th place with 12 match points after once lurking outside the top 100 when it lost to lowly Lebanon in the fifth round.

The Philippines is now four points behind Poland, which seized the solo lead after stunning top seed and reigning champion

United States, 2.5-1.5.

Interestingly, the Americans have Caviteborn GM Wesley So as their board two player.

The Filipinos, whose trip is bankrolled by the Philippine Sports Commission and the National Chess Federation of the Philippines headed by Rep. Prospero Pichay, played Ecuador, which beat South Africa, 2.5-1.5, in the penultimate 10th round on Thursday.

In women’s action, Woman GM Janelle Mae Frayna, Woman Fide Master (WFM) Shania Mae Mendoza and Woman International Master (WIM) Bernadette Galas won over WFM Wang Chengjia, WFM Roza Eynula and Kim Yubin on boards one, two and four, respectively, to lift the Pinay chessers to the win.

WIM Marie Antoinette San Diego fell to Park Sunwoo on board three.

The Philippines, which moved to a 13-country tie at 33rd spot with 11 points, battled Moldova also on Thursday.

Bulldogs target eliminations sweep

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ATIONAL University (NU) moved on the cusp of clinching an outright passage to the men’s finals as the reigning four-time champion Bulldogs overwhelmed the University of Santo Tomas (UST) Tigers, 5-0, on Thursday in University Athletic Association of the Philippines Season 81 badminton action at the Rizal Memorial Badminton Hall.

Everything went well for the Bulldogs as Ross Lee Pedrosa, Mike Minuluan and Dawn Cuyno won their respective singles matches, while reigning Most Valuable Player Alvin Morada and Alem Palmares and Minuluan and Cuyno hurdled their doubles contests.

Stretching its perfect run to 40 ties and sporting a 5-0 record in the season, NU goes for the elimination round sweep against winless University of the East at 8 a.m. on Saturday also at the Rizal Memorial Badminton Hall.

In other ties, University of the Philippines (UP) turned back Ateneo, 3-2, while De La Salle scored a 4-1 decision over Adamson University to complete the semifinals cast.

The victory, the fourth in five ties, assured the Fighting Maroons of at least a playoff for the second twice-to-beat slot in the semifinals.

The Green Shuttlers, meanwhile, improved to 3-2 alongside the Blue Eagles in third place.

UP, meanwhile, dealt Ateneo its first loss with a 3-2 decision in the women’s division. The Lady Maroons turned to Jessie Francisco, who

downed Samantha Ramos, 21-17, 22-20, in the deciding singles to end the Lady Eagles’ streak of four consecutive wins.

It also forced a three-way tie for first place on a 4-1 card among UP, Ateneo and NU, which turned back De La Salle, 4-1.

The Lady Shuttlers fell to solo fourth with a 3-2 record, stalling their march to the next round.

Adamson University defeated UST, 3-2, to keep its slim semis hopes alive.

Perpetual Altas fan semis hopes

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NIVERSITY of Perpetual Help kept its poise in overtime to foil a gritty San Sebastian College side, 85-77, and keep its Final Four bid within range in the National Collegiate Athletic Association Season 94 seniors basketball tournament on Thursday at the Filoil Flying V Centre in San Juan City.

Down five points with less than two minutes remaining, Jelo Razon scored on a lay-up and Edgar Charcos completed a three-point play to forge a 69-all count in regulation.

In extra time, Jeffrey Coronel and Rey Peralta drained back-to-back triples to spark a 12-2 assault that doused the Stags’ attempt to pull off a surprise.

Prince Eze had another mammoth game of 25 points, 23 rebounds and four blocks, while Coronel, Razon and Charcos added 15, 13 and 12 points, respectively.

The victory was the 10th against five losses for the Atlas. They trail the Lyceum Pirates (14-1), San Beda Red Lions (13-1) and Letran Knights (10-4).

“It showed the character of our players. It boils down to proper execution,” Perpetual Head Coach Frankie Lim said. “We are just lucky to come back from five points down in the last two minutes.”

Perpetual Help limited San Sebastian to only nine points in the first quarter as the Stags had a hard time finding their groove and shot a measly 9-of-41 before the half.

Michael Calisaan and RK Ilagan commandeered a 10-0 blitz to make it 62-57 with three minutes left.

But the Altas, behind Eze and Charcos, killed all of the Stags’ hopes in reversing the outcome.

Alvin Capobres had 18 points and three steals, while Ilagan added 16 points built around four triples for the Stags, who took their 11th loss in 15 games.

Ramon Rafael Bonilla

DONATION Unilab donates transition

bags and backpacks to the Triathlon Association of the Philippines (TRAP) and Philippine Paratriathlon Committee (PPTC) for its grassroots programs. Rockstar triathlete Reujen Lista turns over for Unilab the donations to PPTC Chairman Lito Cinco (second from left) at the TRAP office in Pasig City. Also in photo are TRAP officials Rick Reyes (right) and Fabie David.

orts

sMirror

Friday, October 5, 2018

PHL BETS STRUGGLE

Pablo powers Lady Warriors against Adamson U belles

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OCARI-AIR FORCE used its firepower and net defense and pounced on an Eli Soyud-less Adamson University-Akari side as it fashioned out a 25-23, 25-22, 25-16 victory to wrest solo second in the Premier Volleyball League Season 2 Open Conference at the Filoil Flying V Centre in San Juan late on Wednesday night.

Myla Pablo put in another solid outing, ramming in 11 kills for 13 points and coming through with 11 digs, while Iari Yong backed her up with 12 hits, including nine attack points and two aces as the Lady Warriors logged their third straight victory after dropping a four-setter to the Motolite-Ateneo Lady Eagles in the inaugurals of the season-ending conference of the league organized by Sports Vision two weeks ago.

But the victory hardly impressed Coach Jasper Jimenez, who rued his wards’ apparent lack of killer instinct, particularly against a team sorely missing its main hitter who was out with an injured left knee.

“It was close in the first two sets, and that’s the attitude that we’ve been trying to improve on,” said Jimenez, whose wards brace for a spirited battle against the fancied Creamline Cool Smashers on October 14.

BanKo-Perlas, which took the bronze in the Vinh Long Cup, is unbeaten in two starts, while an equally surging PetroGazz is at 3-2.

Foiled in a match it was expected to win, Creamline, meanwhile, came back and unleashed its full might to clip a surging Tacloban side, 25-15, 25-21, 25-15, and get on track of its title drive.

“It’s actually a wake-up call, and we hope to learn from it,” said top player Alyssa Valdez, referring to their stumbling start in the season-ending conference of the league that saw them lose steam in the fifth set and drop a 25-27, 25-17, 23-25, 25-19, 5-15 setback to the PetroGazz Angels last week.

Jeanette Panaga and Dell Palomata added nine hits apiece while combining for 10 of Pocari’s 13 kill blocks to underscore the Lady Warriors’ domination of the net.

But the gutsy Lady Falcons still kept the game close in the opening frame then battled back from 10-16 down in the second to within 20-22. Pocari countered with back-to-back points but allowed its rival to save two set points and clinched the set only after Adamson setter MJ Igao slammed her serve into the net.

The Lady Warriors, however, made sure to finish off the Lady Falcons, in three, racking up nine straight points in the third and coasting to victory over the San Marcelino-based school, which took its second straight defeat in the absence of explosive opposite hitter Soyud.

16 bowlers gun for national crown

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T’S make or break for eight male and eight female pintopplers today as they gun for the 2018 Bowling World Cup (BWC) national title at Paeng’s Eastwood Bowl and the trip to the 54th international event from November 4 to 11 in Sam’s Town, Las Vegas, Nevada.

The 16 remaining aspirants out of an original field of 80 men and 44 ladies with their respective scores after two rounds are:

Men—Merwin Tan (4881 in 24 games), Nicco Olaivar (4871), Kenneth Chua (4837), Kevin Cu (4770), Raoul Miranda (4741), RJ Bautista (4721), Eric Aranez (4702) and Anton Alcazaren (4676).

Ladies—Liza del Rosario (3960 in 20 games), Dyan Coronacion (3831), Lara Posadas (3821), Alexis Sy (3732), Abbie Gan (3665), Pure Anselmo (3655), Mades Arles (3608) and

YNA RODRIGUEZ survived in another punishing day and salvaged an even par 72, but Princess Superal this time failed to endure the exacting test and hobbled with a 75 as the Filipinas fell behind by seven to a young amateur who continued to flourish in severe conditions on a course she calls home.

Taiwanese Chia Yen Wu, 14, rallied from an opening 38 with three birdies in the last nine holes behind solid iron play to save a 71, leaving behind her erstwhile pursuers after two rounds of the Party Golfers Ladies Open at the wind-raked National Golf Country Club in Miaoli County in Taiwan.

Just one up over Thai Wanchana Poruangrong with a 67 in the opening round of the $100,000 event cosanctioned by the Ladies Philippine Golf Tour and Taiwan Ladies Professional Golf Association, Wu now heads to the final 18 holes with a 138 total and a whopping five-stroke lead over fellow Taiwanese Chen Szu-Han and Yu PeiLin, who shot 69 and 73, respectively, and Jackie Chulya and Poruangrong, who turned in 72 and 75,

respectively, for 143s.

Superal, three behind after 18 holes of play, stayed within striking distance despite a 37 start but reeled farther back with a couple of missed birdie putts and back-toback bogeys from No. 15. She wound up with a birdie-less 75 for a 145, which Rodriguez matched with her eagle-spiked 72.

“It was tough out there...the wind kept blowing from all over, forcing you to adjust your shot in an instant and making it a lot tougher to putt,” rued Superal, who put up a strong finishing kick to get into the mix with a two-under 70 on Wednesday.

But there was no big windup for back-toback winner of Ladies Professional Golf Tour (LPGT) Highlands and Riviera last March as conditions turned from bad to worse at day’s end with the field also needing to deal with the biting cold spawned by rain showers in the closing holes.

Chen Meng-Chu blew an opening 34 with a 38 for a second 72 and 144 for joint sixth with Thai Supamas Sangchan, who rallied with a 70.

Rodriguez, a former three-time LPGT Order of Merit winner, celebrated in jest as she turned in her scorecard that yielded an eagle and two birdies against two double-bogeys.

“I’ve got no bogeys,” she paused. “But made two double-bogeys,” She actually set in motion her rebound bid from an opening 73 with an eagle on the par-5 No. 3 but gave up the strokes just as quickly with a 6 on the next. After a par on No. 5, she dropped two strokes again the long, daunting par-4 sixth but birdied the par-5 seventh and got another stroke on No. 10 before settling for pars the rest of the way.

Daniella Uy, who fumbled with a 77 in the first round, wheeled back into contention with an impressive three-under card at the back.

But the 21-year-old rookie failed to handle the pressure and ride the wind-swept condition in the last nine holes, making five bogeys in the first six holes and winding up with a 41 and a 74. She, however, made it to the final round at 151 for joint 34th.

Poruangrong, who seized control as Chia floundered in the early going in super windy conditions, wavered at the finish, bogeying four of the last six, including three straight from No. 15, enabling the young local ace to wrest back the lead with her closing 33.

Superal overshot the No. 2 green and flubbed a par-putt from short range then battled through the wind with gutsy pars on Nos. 6, 7 and 8, only to succumb at the back with a missed green and three-putt miscue for her two other bogeys.

“I’ll try to rebound tomorrow [Friday], hit some good shots and make the putts,” said Superal.

While Rodriguez, Superal and Uy made it to the final round that featured the 53 players who made the cut at 152, the two other Pinays bowed out, including Mia Piccio, who skied to a 77-153, and Marvi Monsalve, who limped with an 81 for a 160.

Filipino star Krizziah Tabora bagged the international ladies’ crown last year, but she was unable to compete this time because she’s on medical leave.

Four other Filipinos, led by Paeng

Nepomuceno, emerged world champions.

Nepomuceno won four times while Lita de la Rosa, Bong Coo and CJ Suarez triumphed once each.

Multititled Liza del Rosario got the

chance to play in the international finals six times, placing second in Pattaya in 2001, third in Singapore in 2004 and fourth twice—in Wroiclaw, Poland in 2014 and Las Vegas, Nevada in 2015.

C CYNA RODRIGUEZ salvages an even par 72 in the second round.

Rochelle Munsayac (3583).

With their scores carried over, the men and ladies will bowl a round-robin format and positioning on the eighth game, the winner getting 30 points and both 15 each for a tie.

All semifinal and final matches will be best-of-3 games, with the top finisher facing No. 3 and the two others clashing in the semis.

The winners will dispute the title and the right to represent the Philippines in the BWC international tournament.

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Sports BusinessMirror

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| Friday, October 5, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

CRISTIANO RONALDO and his partner Georgina sit in the stands before the Champions League Group H match between Juventus and Young Boys at the Allianz stadium in Turin, Italy, on Tuesday. AP

TYSON FURY (left) and Deontay Wilder face off on Tuesday during a news conference in New York ahead of their heavyweight world championship boxing match in Los Angeles on December 1. AP

WILDER, FURY SCUFFLE IN PROMOTIONAL TOUR

Lawyers claim Ronaldo’s accuser suffers from post-traumatic stress

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AS VEGAS—Lawyers for a Nevada woman accusing Cristiano Ronaldo of raping her nine years ago said on Wednesday that their client has been diagnosed with post-traumatic stress and depression, conditions they argue would have made her legally incompetent to reach a nondisclosure agreement.

Kathryn Mayorga didn’t appear with her lawyers at a news conference in Las Vegas the same day that Ronaldo denied the rape accusations, using Twitter to say he had a “clear conscience” as he awaits results “of any and all investigations.”

“I firmly deny the accusations,” he said. “Rape is an abominable crime that goes against everything that I am and believe in. Keen as I may be to clear my name, I refuse to feed the media spectacle created by people seeking to promote themselves at my expense.”

Mayorga’s attorney Larissa Drohobyczer told reporters the psychiatrist’s recent medical opinion was that Mayorga’s psychological injuries were “caused by Cristiano Ronaldo’s sexual assault in 2009.”

The doctor, Norton Roitman in Las Vegas, did not immediately respond to messages from The Associated Press (AP).

Mayorga suffered several months of severe emotional stress and coercion by Ronaldo’s representatives to push Mayorga into taking a monetary settlement to keep quiet, her lawyers said.

“These injuries rendered Kathryn incompetent to participate in the negotiations and settlement and nondisclosure in 2010,” Drohobyczer said.

The argument previews claims Drohobyczer and law partner Leslie Stovall would make when asking a judge to void the nondisclosure agreement that the attorneys say Mayorga signed while accepting a $375,000 payment from Ronaldo.

The AP does not typically identify alleged victims of sexual assault, but Drohobyczer and Stovall spoke of Mayorga on Wednesday by name. Drohobyczer told the AP

on Tuesday that Mayorga gave consent to have her name made public.

A civil lawsuit filed last week in state court also seeks monetary damages that Stovall said could, counting compensatory and punitive damages, amount to many times more than the minimum $200,000 sought under Nevada state law.

Stovall said he had not asked Mayorga if she wants Ronaldo criminally prosecuted for rape.

Attorney David Chesnoff in Las Vegas, who was hired on Wednesday by Ronaldo, issued a statement “categorically” denying the allegations and expressing “complete faith in the justice system.”

Chesnoff said Las Vegas police investigated Mayorga’s sexual-assault claim in 2009 and did not recommend the filing of criminal charges.

Stovall said the lawsuit served as Mayorga’s legal team’s response to Ronaldo’s denials.

The civil lawsuit filed September 27 in state court in Las Vegas alleges Ronaldo raped Mayorga in his penthouse suite at a Las Vegas hotel and hired a team of what the document called “fixers” to pressure Mayorga to keep quiet.

Earlier this week, the 33-year-old Portuguese player used social media to label the allegation “fake news.”

Drohobyczer acknowledged that Mayorga accepted the money nine years ago because she never wanted her name made public.

Ronaldo, a five-time world player of the year, now plays for Italian club Juventus. In 2009 he went from Manchester United in England to Real Madrid in Spain for a then-record sum of €94 million, or about $130 million.

The lawsuit alleges that Mayorga met Ronaldo at a nightclub and went with him and other people to his suite, where the alleged attack took place in a bedroom.

Las Vegas police said they would not be releasing the report that Mayorga filed the day she said she was attacked, because the investigation is open.

Drohobyczer declined to immediately make the document public on Wednesday.

The lawsuit said Mayorga also went to a hospital, where a rape kit examination was conducted.

Stovall said he did not know the status of testing on what could amount to DNA evidence.

Police said Mayorga didn’t immediately say in June 2009 where the alleged attack happened or identify a suspect other than to say he was a European soccer player.

Drohobyczer said previously that Mayorga, now 34, filed the lawsuit now because she became worried that her name would become public after a 2017 media report apparently referred to the incident at the Palms Hotel and Casino in Las Vegas.

Mayorga also was influenced in recent months by the #MeToo movement of women going public with allegations of prior sexual assault, Drohobyczer said.

The civil lawsuit in Clark County District Court accuses Ronaldo or those working for him of acts of conspiracy, coercion and fraud, defamation, battery, breach of contract and negligence for allowing details of the confidential settlement to become public. AP

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OS ANGELES—Heavyweights Deontay Wilder and Tyson Fury have wrapped up their three-city publicity tour for their upcoming bout by nearly coming to blows again.

The unbeaten stars’ news conference in downtown Los Angeles on Wednesday got physical when Wilder and Fury exchanged shoves after pushing their heads together during some nose-to-nose trash talk.

Moments later, the fighters had to be separated by their respective entourages and promoters during a prolonged group scuffle in which a podium was overturned.

“You’re dealing with the baddest man on the planet,” Wilder said to Fury. “When I look over your body, I’m not going to have no mercy for you.”

The 6-foot-7 Wilder (40-0, 39 KOs) will meet the 6-foot-9 Fury (27-0, 19 KOs) at Staples Center in Los Angeles on December 1. Their bout is one of the most important heavyweight matchups of recent years, and arguably the biggest US heavyweight fight since Lennox Lewis’s victory over Mike Tyson in Memphis in 2002.

Both fighters are making their US pay-per-view debuts on Showtime, and both displayed plenty of mutual disdain at a theater across the street from Staples Center.

The loquacious Fury directed a long list of insults at Wilder before their physical clash on stage.

“I’ve seen plenty of killers, and I know I’m not looking at one here,” Fury said. “But you’re looking at a Spartan.”

The fighters also promoted the bout in London on Monday and in New York on Tuesday. Their trash-talking appeared to be a bit more tongue-in-cheek at their first two stops, but the clash got physical in LA, even if both fighters maintained a level of public respect.

“He’s great for the heavyweight division,”Wilder said of Fury. “He’s charismatic. He can talk. I’ve got a great dancing partner. He’s fearless in the ring, and he’s got a background of boxing in his blood. It’s good that he’s from another country so you get to see different cultures, different personalities from the two of us. You’ve got one from America and you’ve got one from Great Britain. So that’s going to make it even more pleasurable for me when I knock him out.”

Fury won three major heavyweight titles in November 2015 with a persuasive unanimous decision victory over Wladimir Klitschko, who had reigned atop the division for nearly a decade. But Fury lost all of his titles during a 31-month period of inactivity during which he tested positive for cocaine use and struggled with depression.

The Manchester native returned to the ring this year with two one-sided victories, and his passion for boxing appears to be rekindled.

“I can walk around here, and I can talk as good as any man in the country,” Fury said. “But when it comes to a fight, it’s going to be a hell of a fight.

Deontay Wilder: massive puncher. Me: skillful boxer. It’s going to be an epic night. This is a legacy fight...and after I win, he’s going to hire me as his publicist because I do believe I can promote Deontay Wilder back to being heavyweight champion of the world in no time. But there’s no shame in losing to me, because I am the greatest boxer of my generation and I can’t be beat, especially not by him.” AP

OSAKA IN TOP FORM US Open winner Naomi Osaka barges into the China Open quarterfinals. AP

The 20-yearold Japanese player got off to a slow start on Thursday, saving a break point and enduring five deuces in the eight-minute first game of the match.

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EIJING—Naomi Osaka maintained her strong form since winning the US Open with a 6-1, 6-2 win on Thursday over Julia Goerges to advance to the China Open quarterfinals.

It is Osaka’s second tournament since she upset Serena Williams in straight sets in the Flushing Meadows final on September 8.

Osaka advanced to the final of last week’s Pan Pacific tournament in Tokyo before losing to Karolina Pliskova, 6-4, 6-4.

The 20-year-old Japanese player got off to a slow start on Thursday, saving a break point and enduring five deuces in the eight-minute first game of the match. But Osaka came back to break Goerges’s serve in the next game and raced to a 5-0 lead.

Osaka won four consecutive points on Goerges’s serve to open the second set and clinched the match in 67 minutes.

In the quarterfinals, Osaka will play the winner of Thursday’s later match between Angelique Kerber and Zhang Shuai.

Juan Martin del Potro, meanwhile, qualified for the Association of Tennis Professionals Finals for the fifth time by beating Karen Khachanov, 6-4, 7-6 (4), on Wednesday at the China Open also in Beijing.

Del Potro, who reached the US Open final this year, last qualified for the season-ending tournament for the top eight players in the world in 2013.

Del Potro will next meet Filip Krajinovic in the quarterfinals in Beijing. Krajinovic defeated Feliciano Lopez, 7-6 (5), 6-3.

Also, third-seeded Grigor Dimitrov was beaten by Dusan Lajovic, 6-4, 2-6, 6-4. Lajovic will next face fifthseeded Kyle Edmund, who defeated qualifier Matteo Berrettini, 7-5, 6-7 (2), 7-5.

In women’s play, Karolina Pliskova advanced to the third round for the third consecutive year by beating Aliaksandra Sasnovich, 6-3, 6-4.

The seventh-seeded Pliskova, who trailed 2-0 in the second set at the National Tennis Stadium before winning four games in a row, has lost in the third round the last two years in Beijing. She will next play local wild-card entry Wang Qiang.

Second-seeded Caroline Wozniacki earned the final spot in the third round with a 7-5, 6-3 victory over Petra Martic.

“I was just trying to stay focused and tried to run a lot of balls down, try to mix up the pace, be aggressive when I could,” said Wozniacki, who will next play Anett Kontaveit.

Anastasija Sevastova became the first player to reach the quarterfinals by beating Donna Vekic 6-3, 6-2.

In Tokyo, second-seeded Kevin Anderson advanced to the second round of the Japan Open by beating Matthew Ebden, 4-6, 7-6 (1), 6-2, on Wednesday.

Anderson hit 22 aces and saved five of six break points.

He will next face Frances Tiafore.

Also, third-seeded Kei Nishikori advanced to the quarterfinals with a 6-3, 7-5 victory over Benoit Paire.

Nishikori will face either Stefanos Tsitsipas or Alex de Minaur in the next round.

Denis Shapovalov also reached the quarterfinals when he defeated three-time Grand Slam champion Stan Wawrinka, 4-6, 6-1, 6-4.

Nick Kyrgios saved two set points in the second set before beating Yoshihito Nishioka, 7-5, 7-6 (3), to reach the second round. Kyrgios will next face Richard Gasquet, who has defeated Kyrgios in five of their seven previous matches.

Serena Williams and Roger Federer, on the other hand, have committed to play the Hopman Cup mixed teams event in late December while former Australian Open champion Angelique Kerber and Alexander Zverev will represent Germany.

Frances Tiafoe will be Williams’s partner for the United States, while Belinda Bencic will again represent Switzerland with Federer to defend the title they won in January over Kerber and Zverev in the final.

Williams and Federer are scheduled to play mixed doubles against each other when the United States meets Switzerland on January 1.

The eight-country tournament is scheduled from December 29 to January 5 on indoor hard courts at Perth Arena. It used by the players as a tune-up event for the Australian Open, which begins January 14 in Melbourne. AP

Word and wisdom

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ORD Jesus, thank You for the encouraging words that others have for us. They uplift our spirit to do better in promoting Your word and wisdom. Let more people grow appreciative and encouraged to the mission we are in for Your honor and glory. May we never get tired of praising and glorifying You. Amen.

GIVE US THIS DAY SHARED LUISA M. LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

GAB FAB: WHAT IS UP WITH BRAD PITT? D4

Friday, October 5, 2018

D1

Everybody is still talking about

Maine Mendoza image: MAC COSMETICS photographer: MARK NICDAO makeup: RB CHANCO hair: CELESTE TUVIERA styling: LIZ UY STYLING TEAM

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By Dinna CHan VaSQuez

VER the past two weeks, thousands of men and women in the Philippines have scrambled to get what is perhaps the most coveted beauty item around these parts—a tube of @mainedcm lipstick from MAC Cosmetics.

They lined up at midnight in front of malls for a mad scramble for the tube, and also managed to sell out the lipstick in 30 seconds on online shopping site Lazada—all for the love of the 23-year-old Maine Mendoza, who was already an online sensation before she became the other half of the wickedfamous Aldub loveteam.

Mendoza’s star has been called phenomenal perhaps because her fans aren’t confined to a certain demographic. We’ve seen grandmothers, grandfathers, mothers, fathers, professionals and even teenagers patiently fall in line to get their tubes of Mendoza’s MAC Maker lipstick—a nude peachy beige. Even those who don’t wear lipstick have hoarded on the limited-edition lipstick. I lined up to get five tubes for a friend, who likes the shade so much.

MAC’s Maker lipstick line takes an international approach to influencer marketing. Each of the beauty influencers targets specific markets: Nyma Tang will focus on the United States, Patricia Bright on the United Kingdom and Maine Mendoza on the Philippines. Other key regions include Canada, Chile, Mexico, Brazil, Russia, the Middle East, Germany and Spain.

Some of Mendoza’s detractors have dismissed MAC Maker as something that isn’t really new, as if to diminish her achievement. It’s worth noting that in terms of marketing, MAC Cosmetics has always been ahead of its time. The brand collaborated with influencers and celebrities like RuPaul, Ricky Martin, Cyndi Lauper, Lady Gaga and many others long before

it was trendy to do so.

The long lines and the strong demand for the lipstick both in the Philippines and abroad have catapulted Mendoza, a self-confessed introvert, to another level of celebrity.

My first close encounter with Mendoza was in February during the after-party hosted by MAC Cosmetics Philippines for Patrick Starrr at Manila House. I had previously seen her twice at public events. At the time, I already had a strong feeling that her MAC Maker lipstick wouldn’t be a red, as some people expected.

We were talking about Ruby Woo, MAC’s iconic red lipstick that sold-out because Mendoza wore it early in the Aldub days, and she remarked that she doesn’t wear it so much these days.

“Kasi po di ba ang Ruby Woo kay Yaya Dub [Ruby Woo is associated with Yaya Dub]?”

At that time, I thought that her @mainedcm lipstick was the terracotta she was wearing during the party.

So when the shade of @mainedcm was finally revealed days before the official announcement, very few people in the beauty community were surprised that it was a nude. Mendoza, by this point, had shown us that she’s her own person. In fact, she said that she already knew what shade she was going to create before she even left for Canada.

Mendoza’s fans love her because she defies stereotypes. Yes, she is a pretty girl but she chose to be a comedian. Yes, she is very shy and awkward in person but she lights up in front of a camera.

“I remember her as a very quiet girl in school.

She was also very popular and that was surprising, because usually girls who are quiet are not popular,” said my daughter’s friend, who was Mendoza’s schoolmate in Bulacan.

“Her fans are CEOs, doctors, lawyers and entrepreneurs. They aren’t very vocal or noisy but

they really support Maine and her endorsements and whatever she’s doing. When she’s on the cover, they go to our office to get a lot of copies. One person would get hundreds of copies,” said a magazine editor.

“Sobrang lakas [in demand]” is how another magazine editor described sales when Mendoza is on the cover.

In person, Mendoza is the typical millennial who is always on her mobile. But she shared that her parents don’t allow that while they’re eating.

“My parents are very conservative and old-school.

When we’re eating together, you can’t even have your phone on the table. They raised us to be respectful,” said Mendoza.

She revealed it’s her mother Mary Ann, an accountant, who is the disciplinarian while her father Teodoro, the more indulgent parent. While the Mendoza children grew up in comfort, they weren’t spoiled.

“My parents started [their] business from scratch.

They know the value of hard work and they instilled that in us.”

Rams David, Mendoza’s manager, revealed that even when the star gets home from a shoot at 5 am, she’s still willing to make the early Eat Bulaga! calltime. “I tell her she should get a few more hours sleep but she’ll just shake her head and still show up on time.”

“This is something I’ve always wanted and dreamed of. I’m happy to be here. I’m lucky to have these opportunities. How many people have the opportunity not just to be on TV and get the chance to help people [referring to the show’s ‘Juan for All, All for Juan’ segment]?”

At press time, Mendoza’s preview.ph feature had been trending for over 12 hours. Ace makeup artist RB Chanco shared some of the products used on the young star.

For the base, Chanco used Mineralize Moisture SPF

15 Foundation and MAC Select Cover Up Concealer.

For Mendoza’s brows, it was MAC Pro Longwear Waterproof Brow Set in the darkest shade. Chanco also used MAC Fast Response Eye Cream.

To get that glow everyone is talking about, the makeup artist used MAC Strobe Cream in Pinklite, MAC MAC Prep+Prime Essential Oils Grapefruit and Chamomile and Hyper Real Glow Palette.

So what lies ahead for Maine Mendoza? She has a movie for the Metro Manila Film Festival in December and an upcoming weekly show on GMA. She also dreams of putting up her dream business someday.

“I would really love to own a nail spa. I love going to the salon to have my nails done. I love nail polish.

I’m not wearing any right now because I am shooting a movie but I am usually always wearing nail polish,” said Mendoza. n

HOW TO WEAR MAINE MENDOZA’S MAC LIPSTICK WE talked to MAC Cosmetics Philippines artist training and development manager for tips and tricks on how to wear the @mainedcm lipstick and here’s what she had to share: n The lipstick would look good with a smokey eye or a strong blush. n You can pair the lipstick with MAC Lip Liners like Spice, Soar and Boldly Bare. n You can layer the lipstick with other MAC neutral lipsticks like Mocha, Whirl and Persistence.

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Friday, October 5, 2018

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z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jesse Eisenberg, 35; Scott Weinger, 43; Kate Winslet, 43; Guy Pearce, 51.

HAPPY BIRTHDAY: Explore the future instead of living in the past. Start to purge and evaluate your life and your next move. Change is within reach, but it will take effort on your part to ensure that whatever transpires is what’s best for you. Getting rid of the negativity in your life and replacing it with something stabilizing should be your priority. Your lucky numbers are 5, 12, 22, 27, 31, 34, 46.

a

ARIES (March 21-April 19): Make a promise to yourself and stick to it. Set your sights on your goals, and work diligently to stick to your script. Sorting out your differences with someone overbearing will help you gain confidence and composure. HHHHH DESIGNER Amina Aranaz Alunan

DARYL CHANG and Vince Uy

DJ Jaz Reyes

Margaret Zhang and all the ‘-isms’ I N case there’s still any doubt that The SM Store has its finger on the cultural pulse, the brand’s latest collaboration should dispel all that. Margaret Zhang collaborates—as director, photographer, stylist and model—with The SM Store in its new campaign: FashioniSM. This is all the smart, sexy and sensational “isms” that readily come to mind. FashioniSM, according to the powerhouse retailer, is expressionism, individualism, activism, adventurism, conceptualism, empowerism, functionalism, futurism, modernism, minimalism, urbanism, athleticism, casualism, abstractionism, couture-ism and vocalism. Margaret Zhang is FashioniSM. Fashion is SM. In the new campaign, Margaret’s definition of fashion comes to sharp relief in a unique, sartorial

style that represents all facets of her life.

The Chinese-Australian director, photographer, stylist, writer, and law school and business school graduate is in both Forbes Asia’s 30Under30 and TimeOut’s 40Under40 lists, and was named Best Digital Influencer by ELLE Magazine.

She has worked with global brands, such as Chanel, Uniqlo, Swarovski, Yeezy, Clinique, Lexus, Dior, Gucci, Matches and Louis Vuitton both in front and behind the lens, and has been featured in countless magazines from Vogue and L’Officiel, to Nylon and Harper’s Bazaar.

The genuinely influential influencer flew into town recently courtesy of The SM Store, and, not surpringly, other forward thinkers turned up for a moment with her. n

ANGELIQUE MANTO and Kerwin King

b

TAURUS (April 20-May 20): Inconsistency will be what brings you down. Set a path and stick to it. Deal with people diplomatically and you will save yourself from getting into a battle no one can win. Aim for greater equality, security and better relationships. HHHHH

c

GEMINI (May 21-June 20): Take a break and plan to have some fun. A short trip, visiting someone you find entertaining and knowledgeable or rethinking how to avoid a bad situation with someone who is showing signs of instability will ease stress. HH

d

CANCER (June 21-July 22): Get involved in something you’ve never done, or make a point to visit an older relative who can offer information about your family background. Expanding your awareness will open a window of opportunity you didn’t know existed. HHHH

e

LEO (July 23-Aug. 22): Someone is likely to overreact; don’t let that someone be you.

Think before you say something you’ll live to regret. Look for the good in everyone as well as in every situation. HHH

f

VIRGO (Aug. 23-Sept. 22): Getting together with old friends or reuniting with someone you used to have a crush on will be informative. Check out your options and new possibilities and suggest something that encourages a lifestyle change. Romance is on the rise. HHH

g

MARGARET ZHANG

LIBRA (Sept. 23-Oct. 22): Get involved in something that warrants hype, energy and excitement. The people you meet will change the way you view life and the way you want to live as you move forward. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Keep your distance from anyone who tends to overreact or is indulgent or unpredictable.

You need stability in your life, not disruption. Consider the changes you can implement that will help you feel less stressed. Romance is in the stars. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): You can have fun without overspending. Attend events that give you a sense of satisfaction. Helping others can be gratifying as long as you don’t let anyone take advantage of your generosity. HHHHH NORDCHAM President Bo Lundqvist (from left), Sofitel Philippine Plaza SOFITEL Philippine Plaza Director of Rooms Thomas Kerschbaumer, Director of Sales and Resident Manager Christophe Bataille and General Manager Beat Klarer, Marketing Assia Daourova, Public Relations Director Yasmine Hidalgo, General Manager Beat and NordCham Executive Director Joona Selin Klarer, Director of Marketing Debraliz Galang, and stylists Nyo Manzano and Lawrenz Valencia

Vikings conquered the crayfish party THE Harbor Garden Tent was transformed into Viking Village as Sofitel Philippine Plaza Manila and NordCham Philippines welcomed around 1,000 guests to celebrate the most authentic Crayfish Party in Manila. “The fun-filled celebration promoted camaraderie of the Nordic-Filipino community, corporate groups, expatriates and excited locals always on the search for excellent food, music, dancing and drinking,” said Sofitel Philippine Plaza Manila General Manager Beat Klarer.

“This year’s Crayfish Party is the biggest and most exciting one by far outside of Nordic countries,” Bo Lundqvist, president of Nordcham Philippines, said

during the soiree.

Men and women took part in the traditional Nordic celebration dressed like true Vikings as they partied all night long to the well-loved tunes performed by The Bloomfields and popular hits by renowned DJ Jessica Milner. The festivities commenced with the ceremonial Swedish drinking song “Helan Går,” several Nordic drinking games, and a live auction of featured pieces and holidays.

Proceeds went to the Chosen Children Village, a foundation focused on caring for less fortunate and disabled children toward a more meaningful and productive way of life.

j

CAPRICORN (Dec. 22-Jan. 19): Obligations can weigh you down. If someone is lazy, make your feelings clear. Don’t give anyone a chance to take credit for something you did all on your own. A positive change based on your actions will transpire.

Collect your reward. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Emotions will flare up if you let someone get away with something or you give in to someone’s temptations or poor habits. Guard against being used or treated poorly. Stand up for your rights, and protect your assets, passwords and reputation. HHH

l

PISCES (Feb. 19-March 20): Make decisions based on facts. Know what’s possible and what isn’t. There is money to be made and connections that can help you get ahead if you play your cards right. HHH SOFITEL Philippine Plaza Resident Manager Christophe Bataille, Anna Abrashina and Russian Embassy’s Denis Abrashin

BIRTHDAY BABY: You are animated, playful and caring.

You are intelligent and convincing.

‘sound familiar?’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Programs in testing 6 Legendary Edith portrayer 10 Director Preminger 14 Consolidate 15 Southern veggie 16 Ingather 17 Look similar 20 Apt rhyme for “toiled” 21 Game show voice Johnny 22 Latin eggs 24 High mountain peak 25 Novel “Hotel du ___” 27 Non-flying avian 28 Curl producer 30 Mini sari?

33 Three, together 35 Big name in small appliances 36 Some 65-Across relief units 41 Cause to feel shame 42 Pressing need?

44 Fail to please 49 It has slopes in Sicily 50 2018 film creature

1 Historical Boston drink 5 52 Dinner order?

54 Initial double digit 55 Griffin of the NBA 57 Acid neutralizer 59 Minimal thing to 64-Across on 64 Not be dead 65 No gain? No this 66 Black cattle breed 67 Biblical garden 68 Valuables storer 69 Some roughing tools DOWN 1 Buster or fella 2 “Propyl” stick-on 3 Type of rum liqueur 4 Circular hairstyle 5 Country in the Middle East 6 Multicolored coat wearer 7 ___ out (just managed) 8 Certain limb 9 Bust in the act 10 Administered with a spoon 11 More fidgety

2 Washington city 1 13 Police command 18 Architectural angles 19 Gym features 22 Make a choice 23 Run or swim, grammatically 25 Sylvester’s impediment 26 Prefix with “skid” or “lock” 29 Yucatec speakers 31 Flowers of love 32 Jot some lines 34 Argues a side 37 Dollars per hour, e.g.

38 It’s quite continental 39 Meshy things 40 Uncertifiable?

43 Provide a staff 44 Tinker 45 Stuck flush with a surface 46 Deprive of food 47 Like all cats 48 Tibetan animals 53 Certain Mongolian 56 Sharp-edged

7 “___ I cared!”

5 58 Legendary Horne 60 Warm-___ (stretches, etc.)

61 Farm sound 62 Half pint 63 Curlicue shape

Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, October 5, 2018

A minute goes a long way I

By Pauline Joy M. Gutierrez

T only takes a minute to perform a breast selfexam, but the effort will save thousands of lives in the long run.

New cancer statistics paved the way for Avon Philippines’s Pink Minute breast-cancer awareness campaign, an initiative that drives the importance of making breast self-exam a habit.

Pink Minute coincides with the international direct-selling company’s Breast Cancer Promise global project, which has mobilized 6 million representatives around the world to create a communication network that will raise awareness on the symptoms, risks and treatments for the disease.

The latest data from the International Agency for Research on Cancer (IARC) show that there are 2.1 million cases of breast cancer each year, with more than 626,000 recorded deaths as of 2018. This accounts for 15 percent of global cancer deaths.

“It was clear to Avon that we need to do more and we need to fight more to reduce the impact of the disease,” said Avon General Manager Razvan Diratian at the launch of the campaign.

He cited that despite these numbers, breast cancer belongs to the 30 percent of cancers that can be cured when detected early.

Forty percent of those diagnosed with the disease were women who felt a lump—and that’s why knowing how to properly conduct a breast self-check is important. The National Breast Cancer Foundation suggests these steps: First, move your hand around your entire breast in a circular pattern, moving from the outside to the center, checking the entire breast and armpit area.

Check both breasts each month and feel for any lump, thickening or hardened knot. Last, look for any changes in the contour, any swelling or dimpling of the skin, or changes in the nipples. The week after your period is the best time to do this.

Breast-cancer symptoms include a lump or thickening of the breast, and changes to the skin or the nipple. Its risk factors can be genetic, but some lifestyle factors, such as alcohol intake, make it more likely to happen.

“Women have been told that the more kids you have, the lesser the risks of you getting breast cancer.

Meanwhile, it’s also been said that women who have never given birth or those who decided to have kids later in life have higher risks of getting the disease.

However, there are still several things to consider, like if this woman is physically active and watches her diet. A healthy lifestyle is still paramount to decreasing the risks of getting breast cancer,” explained Dr. Rachel Rosario, Philippine Cancer Society executive director.

Older women have the largest risk of developing breast cancer, which is why routine mammograms are generally conducted to those over 50. Also every woman has unique risk factors that are specific to her, but 2 to 5 in every 100 cancer diagnosis are linked to an inherited gene fault.

Currently, there is a range of treatments available to cure the disease, including surgery, radiation therapy and chemotherapy. Rosario also noted that while many breast lumps are not cancerous, any

RESTAURANTS UNITE TO FIGHT CHILD MALNUTRITION

FROM left: Avon Philippines General Manager Razvan Diratian, Philippine Cancer Society Executive Director Dr. Rachel Rosario and Avon Philippines Director of Communications Faith Mondejar

woman concerned about a lump or change in breast size should see a doctor.

“Approximately 20,000 women a year will get it, and this is just the new cases. Around 7,000 of this number will succumb to breast cancer because they were diagnosed late. With this, we say that early detection will really save lives,” said Rosario.

She added, “Today, Western countries are veering away from calling breast self-check as ‘life-saving’ because they already have regular screening protocols which we still don’t have in the Philippines.” However, according to her, there are still ways to help curb the disease, like educational initiatives under the Pink Minute project.

This month, establishments like the Mall of Asia Globe, The Manila Hotel, Manila City Hall, Eton Centris, PET Plans Building and Saint Francis Square will be lighted in pink to shed light on the ongoing movement against the disease.

A little later this month, Avon celebrity ambassadors, associates and women from different cancer support groups will gather at the Quezon City Memorial Circle grounds for the symbolic lighting of the Quezon City Memorial Monument.

Shoppers can also support this awareness campaign by availing themselves of the Live Love Laugh Necklace, a symbolic token that aims to raise funds for women fighting breast cancer. For each purchase, P50 will go to the maintenance of the breast cancer wing of the Philippine General Hospital, which provides health care and assistance to approximately 150 women a day, offering free breast health guidance, consultation and check-ups.

“Ensuring that no woman is left in the dark when it comes to breast cancer begins with reminding them to make breast self-exam a habit and communicating this repeatedly to raise awareness,” said Diratian.

After all, this only takes a minute. n

RIHANNA TALKS LINGERIE, BODY POSITIVITY AND HER ‘BATTLE’ WITH SOCIAL MEDIA NEW YORK—Last year Hamish Bowles, a writer for Vogue, asked Rihanna in an interview about her big-picture plans for her fashion brand. “I know where I’m going next,” she said.

“But I can’t tell you that. What’s the fun in that?”

After her Savage x Fenty spring 2019 lingerie show in September, at the Brooklyn Navy Yard, Rihanna’s strategy seemed clear: She plans to broaden the fashion community while also disorienting it.

She wants to entertain herself, too. “I get bored. I get very bored,” Rihanna said backstage after the show. “It’s like a pair of shoes, you know. They’re only good until tomorrow.”

Already, the singer and designer has shown that restless daring with her personal style, turning an ever-present wineglass into an accessory and wearing a dress by a young designer fresh out of Pratt Institute in a music video.

With Fenty Beauty, the makeup line she introduced last year, she created a truly diverse makeup brand, offering products in dozens of shades across the color spectrum.

Now, perhaps in a riposte to Victoria’s Secret, Rihanna is doing the same with lingerie. Yes, supermodels including Gigi and Bella Hadid made an appearance. But the collection was much more about presenting women of all sizes and ethnicities, including two visibly pregnant models.

Raisa Thomas, a 26-year-old makeup artist and plus-size model, said she “got hit up by a casting director in a DM” and wound up in the show. She appreciates how Rihanna is diversifying the fashion industry, she said.

“She’s putting it on the map for people to be inclusive,” Thomas said. “Plus size, white, black. It’s good for young women to see different types of people in a fashion show.”

The crowd, too, felt more diverse than the typical celebrities and fashion regulars, many of whom were on their way to the airport to catch flights to Europe for the shows there. As for the disorientation, the presentation paid little attention to fashion show protocol. Models emerged unannounced in dim light until the milling crowd took notice

that the show had actually started; cell phones were then whipped out. The elevated stage was more built installation than runway, with a pond, a “growing station” and tropicalplant-filled botanical domes that blocked sightlines. Unless you moved around the room (there was no seating), you missed half the looks. The vibe was less lingerie-show gawkfest than performance art piece, with models moving in slow motion, crawling on all fours, executing fierce choreographed dance moves.

Backstage, Rihanna said the concept was about mixing the organic with the futuristic, “or what we hope to see in the future. Women being celebrated in all forms and all body types and all races and cultures.” She added: “It’s a shame that women have to feel insecure or self-conscious about how their bodies look.” Though her sportswear line with Puma was a success, the clothing brand didn’t show a collection this year. And her shows during New York Fashion Week have seemed more an outgrowth of convenient scheduling, coming during the same week as her Diamond Ball fund-raising gala.

One wonders where she will go from here.

Asked about her move into lingerie, Rihanna said, “I wanted to do it, I wanted to get it right and I wanted it to be something that was respected. So I took my time.” She was still “shocked,” she said, that the industry takes her seriously as a designer. “I know where I’m at. I’m brand-new. I’m learning still and growing. I love to create. I love the process.”

Rihanna was less enthusiastic about the promotional part of brand building, especially through social media. She has called Instagram “the death of trends,” and her prolific use of Snapchat has cooled recently. “I get that it helps the brand and it’s a way of communicating your events and your new products to your fans and to the world,” Rihanna said, before adding, “there’s a battle between what you genuinely want to share and what people care to know.”

She laughed. “I respect it. But, you know, I’m not going to put my every meal” on it. NEW YORK TIMES NEWS SERVICE

MODELS backstage at the Savage x Fenty show at the Brooklyn Navy Yard in September. REBECCA SMEYNE FOR THE

NEW YORK TIMES NEWS SERVICE

THROUGH the initiative of global humanitarian organization Action Against Hunger, restaurants have come together to fight child malnutrition. Called “Restaurants Against Hunger,” the campaign runs from October 1 to December 1. During this period, participating restaurants will be donating a portion of the sale of specially marked dishes on their menu to projects combating child malnutrition in the Philippines.

Diners can be a part of the movement to help provide food to the most disadvantaged children and their families in the country by patronizing the participating restaurants and ordering the featured dish/es labeled as “dishes that feed more.” So far, participants this year are Alba Restaurante Español, Aracama, Azuthai, Café Mediterranean, Calderon, Chef Laudico OK Café, Chelsea Kitchen, Chotto Matte/Izakaya Sensu, Corner Tree Café, Cyma, Friends & Family/Coconut Club, Green Pastures, Grilla, Ikomai, Ilustrado, Kabila, Museum Café, Providore, Saboten, Sangkap, Simple Lang, Sobremesa, Terraz Bistro & Meetings, Terry’s Bistro, The Old Spaghetti House, The Shrimp Shack, Wild Ginger and The Bistro Group.

“We hope to sign up more,” said Action Against Hunger Fundraising and Resource Development Manager Dale Nelson Divinagracia. Restaurants that wish to join can simply register at www.restaurantsagainsthungerphilippines.org.

This program is very easy to implement, inexpensive and unites the restaurant staff and customers for a lifesaving cause. This was attested during the launch by Chiqui Mabanta, owner and general manager of Corner Tree Café which has been supporting Restaurants Against Hunger since year one. The campaign started on World Food Day in France in 1998 and has been implemented in Bolivia, Canada, Colombia, Germany, Guatemala, India, Italy, Peru, Spain, the UK and the US. In the Philippines, Restaurants Against Hunger on its third year has helped make it possible for Action Against Hunger to implement several programs.

The most recent was their response to the Marawi conflict, where a total of 206,613 individuals benefited from the nutrition screening and distribution of emergency food aid and hygiene kits. The organization also provided access to safe water and sanitation facilities in the provinces of Lanao del Sur and Lanao del Norte. Through their water, sanitation and hygiene projects in the areas of Masbate, North Cotabato and Maguindanao, they have provided rural barangays access to clean water, created tap stands and toilets, and conducted hygiene promotion sessions to fight the spread of diseases that will lead to malnutrition A total of 180 barangays were declared as Zero Open Defecation Communities, positively affecting 738,566 individuals. To maintain the culture of cleanliness, 730 barangay health workers were trained to continue the work started. Restaurants Against Hunger has also funded nutrition and food security, and livelihood projects in Zamboanga City for the internally displaced people that were forced to evacuate their homes during the 2013 siege.

Based on the latest survey conducted by the Food and Nutrition Research Institute of the Department of Science and Technology, more than 3.8 million or 33.4 percent of Filipino children are stunted. This number is up from 30.1 percent in 2015. Stunting, also called Chronic Malnutrition, refers to a child who is too short for his or her age. It is the result of poor nutrition during early childhood. Children suffering from stunting may never attain their full possible height and their brains may never develop to their full cognitive potential. The effects are irreversible and can last a lifetime. These children face learning difficulties in school, get sick more often and earn less as adults. The same survey also identified 800,000 or 7.1 percent of Filipino children to be suffering from wasting.

Wasting, also called Acute Malnutrition, refers to a child who is too thin for his or her height. It is the result of rapid weight loss or the failure to gain weight due to poor nutrient intake or disease. Children suffering from wasting have weakened immunity, are vulnerable to long-term developmental delays, and face an increased risk of death.

“In 2016 Action Against Hunger and the Institut de Relations Internationales et Strategiques [IRIS], an international think tank that focuses on geopolitical and strategic issues, released a study entitled ‘Socio-economy of Chronic Malnutrition in the Philippines: A preliminary key trends analysis by 2030’ to support strategic action in fighting malnutrition in the Philippines. According to the study, the Philippines ranked ninth among countries with the highest number of stunted children,” revealed Action Against Hunger Country Director Guy Halsey. “It’s imperative that we take steps to stop the upward trajectory of malnutrition in the country. Restaurants Against Hunger is a start and everybody can participate. We can all channel our passion for food into life-saving impact against hunger and child malnutrition,” he added.

Restaurants Against Hunger is co-presented by McCormick Culinary. Sponsors are Foodpanda, Marca Leon and Mida Food. Supporting the campaign are the LTB Chefs Association Philippines and The Spanish Chamber of Commerce. Collaborators are Acceler8, Digital Out-of-Home Philippines, Nyxsys Philippines, Pitchworks Inc. and Summit Outdoor Media.

To know more about the campaign, visit www. restaurantsagainsthungerphilippines.org or follow these social-media accounts @RestaurantsAgainstHungerPH and @ActionAgainstHungerPH on Facebook, @RestaurantsAgainstHungerPH on Instagram and #EndHungerPH, #RestaurantsAgainstHungerPH on Twitter.

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Friday, October 5, 2018

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What is up with Brad Pitt?

IVANA CHUBBUCK

GAB FAB JET VALLE

SEARCH ON FOR SOUTHEAST ASIA’S ‘TOUGHEST’

ARE Filipinos the toughest in Southeast Asia? Well, that is what Fisherman’s Friend and KIX are trying to find out. With the support of Fisherman’s Friend, KIX is bringing back its annual R U Tough Enough? competition on an even bigger scale this year.

Finalists from six countries in Southeast Asia—namely, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam—will be competing for the title of “Southeast Asia’s Toughest” and a grand prize of $15,000.

Fisherman’s Friend and KIX are seeking male and female participants who have the physical strength, mental endurance and emotional resilience to take on contestants from five other countries and prove that he or she is the toughest. R U Tough Enough? Southeast Asia are accepting applicants until October 15 via its official web site: www.KIXTV.com/tough. Applicants can also sign up via Tough Trooper activations in their cities.

“R U Tough Enough? has grown in scope, size and participation every year, and now we are excited to take this competition to a regional level,” said Betty Tsui, vice president for programming of KIX. “We are looking for Southeast Asia’s toughest and we are thrilled to invite everyone with an inspiring tough story to join us. It’s not just a battle of the body but also the mind, and we encourage all tough participants to join and show us what they’ve got.”

R U Tough Enough? Southeast Asia is open to all Philippine residents aged 18 and above. To participate, apply online at www.KIX-TV.com/tough by October 15, or at the Tough Trooper road shows at Metro Manila, Cebu and Pampanga. Shortlisted candidates will be invited for closeddoor auditions and a total of four finalists will be chosen to represent the Philippines together with the previous winner Renz Lou Lagria. The finalists will be flown to Kuala Lumpur, Malaysia, to take part in a “Final Showdown” at Sunway Pyramid on December 2.

CARDI B

Cardi B gets assault summons but lawyer says she did no harm NEW YORK—Cardi B was given a summons on Monday for misdemeanor reckless endangerment and assault in connection with a melee at a New York strip club. The platinum rapper was charged after agreeing to meet with investigators at a Queens police station. Afterward, she left with a smile on her face, but declined comment.

“We are aware of no evidence that she caused anybody any harm from that night,” her lawyer, Jeff Kern, told reporters. “We expect the matter to be resolved expeditiously.”

Police say Cardi B and her entourage were at the club at around 3 am, Saturday when she got in an argument with a 23-year-old woman who was bartending. They say a fight broke out during which chairs, bottles and hookah waters pipes were thrown, slightly injuring the bartender and another employee.

Police say the rapper and about nine other people in her party fled, but she later agreed to turn herself in after being identified by the bartender. Investigators were exploring whether the fracas involved a romantic dispute.

The incident occurred about three weeks after Cardi B and Nicki Minaj were involved in an altercation that got physical at a New York Fashion Week party and left Cardi B with a mark on her head.

Video circulating on social media showed Cardi B lunging toward someone and being held back at Harper’s Bazaar Icons. Another video showed the rapper being escorted out of the event by security.

Cardi B, wearing a voluminous red Dolce & Gabanna gown, was seen leaving the party with what appeared to be a bump on her head. She was barefoot.

She and Minaj have been rap rivals since Cardi B began achieving huge success over the last year. AP

@jetvalle

A

QUICK look at the Internet says that he is busy getting involved in the postproduction of Ad Astra and was recently cast in Once Upon a Time in Hollywood, the upcoming Quentin Tarantino film centered on the Manson family murders. But a little scrolling here and there will bring you to the gossip columns and that the latest on him is, according to a source “close” to the actor (who I’m sure is the gardener of the second cousin of the mistress of the barber of Brad’s), that the actor-producer-philanthropist is enjoying the “time of his life” being single—and that there is no way he is going back to Angelina Jolie. That same source even quoted Brad as saying his time with Angelina, ostensibly in Brad’s own words, “were the dark years.”

Oh, say mo?

There may be a crop of younger and more hunkylicious men seducing me now but Brad Pitt will always occupy a special, passionate place in my heart. Why not? He is staggeringly gorgeous but what makes my Brad the best is his talent. He is one of the most painfully underrated Hollywood actors and an indefatigable producer. He is, in a word, a superstar.

This doesn’t surprise his acting coach and discoverer, Ivana Chubbuck. Ivana has coached a lot of A-list celebrities, including Brad. The acclaimed acting coach, famous for her 12-step technique, first met Brad when he was a promoter in a fast-food shop and helped him achieve his status as an acting icon.

On what makes Brad and other actors very successful, she says, “It’s the work ethic. [Brad] works hard and is fearless. He would rehearse a scene so much. Up to two to three hours per scene. When he was starting, his costars would complain so much about this. But where are they now, and look at where Brad is.”

Well, if you want to have a degree of separation from Brad like me, maybe you’d be interested to know that Ivana will be holding a two-day workshop for the talents under Star Magic and ABS-CBN actors on October 7 and 8 at the Dolphy Theater. And it is open for observers.

Ivana’s workshop would center on the strengthening of her brand of acting that would enable actors to #DiscoverYourPower. This is a followup to her 2016 visit which introduced her method.

Ivana’s approach isn’t only limited for actors, but it can also cater to writers and directors as it teaches you how to win in life, as well.

This year’s third master class would have 16 participants, the majority of which are Star Magic artists who were handpicked by ABS-CBN executives.

The diverse bunch is composed of up-and-coming actors, next lead stars, showbiz royalties, former child stars and a Star Magic public workshopper.

The Star Magic artists include Mica Javier, Diego Loyzaga, Jameson Blake, Leila Alcasid, Myrtle Sarrosa, Vin Abrenica, Enzo Pineda, Joseph Marco,

Nash Aguas and Elmo Magalona, as well as Star Magic workshopper Manuel Calilung.

Also part of the master class are other Kapamilya stars: Loren Burgos, Bela Padilla, Aljur Abrenica, Christian Bables and JC Santos.

Based on their brief acting profiles, Ivana herself randomly chose the scene studies which the artists will have to rehearse with their respective partners to showcase at the master class. Following this, the premier acting coach would critique their performances and they are expected to incorporate the comments on their finale performance the

following day. Apart from Ivana, some esteemed ABS-CBN executives, directors, business unit heads and film enthusiasts will also be present at the master class in order to witness the transformation the artists have made in their performances.

Be an observer at Hollywood acting coach Ivana Chubbuck’s master class at the Dolphy Theater this weekend, October 6 and 7.

For inquiries, visit the Star Magic Workshops’ official Facebook page (www.facebook.com/ starmagicworkshops) or call 415-2272, locals 5243, 5244 or 5142, from 1 to 5 pm. n

PPO PERFORMS WITH VIOLINIST KRISTINE CLAIR GALANO AFTER its successful season opener featuring French pianist Monique Duphil, the Philippine Philharmonic Orchestra (PPO) gears up for its second concert on October 12, 8 pm, at the Cultural Center of the Philippines’s Tanghalang Nicanor Abelardo (Main Theater).

Under the baton of Maestro Yoshikazu Fukumura, PPO’s music director and principal conductor, the Philippines’s premier orchestra company will perform H. Berlioz’s “Le Corsaire Overture” and P.I. Tchaikovsky’s “Symphony no. 4, Op. 36, F minor.”

The featured guest soloist will be violinist Kristine Clair “KayCee” Uchi Galano, playing M. Bruch’s “Violin Concerto no.1, Op. 26, G minor.”

One of the leading young violinists of her generation, KayCee studied at the University of Cincinnati College Conservatory of Music, under the tutelage of German violin instructor Kurt Sassmannshaus.

At 12, she was featured on National Public Radio’s “From The Top,” along with pianist Christopher O’Riley. Later that year, she performed Tchaikovsky’s “Violin Concerto in D” with the Metro Manila Concert Orchestra, under the baton of conductor Chino Toledo.

At 14, KayCee joined pianist Rohan DeSilva on a concert tour in the US, and with the Starling Chamber Orchestra in China. The young Filipino pianist has performed concertos with various orchestras in Europe, China, North America and the Philippines.

Last summer, she joined the ABS-CBN Philharmonic Orchestra, under Gerard Salonga, in their concert tour around the country, performing Mozart’s “A major Violin Concerto” and other works.

In 2017 she performed the “Korngold Violin

Concerto” with the Jena Philharmonic, conducted

by GMD Markus L. Frank, at the 58th Weimar Masterclasses in Weimar, Germany.

KayCee won First Prize at the Malaysian Youth usic Festival, and at the Great Wall Violin Concerto Competition in Beijing, performing Brahms’s “Violin Concerto.” She has participated in the Queenstown Violin Summer School in New Zealand, and the Weimar Master Classes in Germany. She took part at the Innsbrook Institute of Music and the Bowdoin International Music Festival, and performed at the Great Wall International Music Academy in Beijing.

ED SHEERAN

BRITISH SINGER ED SHEERAN GRABS A BEER AT CONNECTICUT PUB BRANFORD, Connecticut—Staff and patrons at a Connecticut pub got a thrill recently when British singersongwriter Ed Sheeran stopped in for a pint of Guinness.

The New Haven Register reports that Sheeran and his fiancée hung out at Tommy Sullivan’s Cafe in Branford following a wedding on Friday night. Pub owner Maeve Sullivan says the “Shape of You” singer ordered a beer before he was joined by others from the wedding party.

A smiling Sheeran snapped a picture with Sullivan and two bartenders. The bar owner says the Grammywinning singer had “a good time hanging out” at the Irish pub and was “very nice and polite” to everyone who asked for pictures.

Sullivan says Sheeran is the first star to visit the pub and she plans to hang the picture on the wall. AP KRISTINE CLAIR GALANO

Motoring BusinessMirror

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

Editor: Tet Andolong

Friday, October 5, 2018 E1

FUSO OPENS KAWIT DEALERSHIP

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Story & photo by Randy S. Peregrino

USO expanded its presence in the Southern Tagalog region with the recent opening of its newest dealership in Kawit, Cavite.

Helmed by Best Southern Genesis Motors Inc. (BSGMI), one of the major automotive dealer groups in the region, the company recently inaugurated its new showroom within the developing area along Centennial road.

Gracing the occasion were Mitsubishi Motors Philippines Corp.

(MMPC) President and CEO Mutsuhiro Oshikiri, Daimler Regional Center for SEA Vice President of Fuso Sales and Customer Services Antonio Randazzo, BSGMI Fuso President Clyde Chua, MMPC Senior Vice President for Corporate Affairs and Corporate Secretary Dante Santos, Sojitz Corp. General Manager for Automotive Department 3 Hideo Hatada, and Sojitz Corp. Assistant General Manager for Automotive Department 3 Takatsugu Nitanai, along with local government officials.

The new dealership offers an expansive 260-square-meter floor area with eight service bays—fully capa-

ble of accommodating vehicle sales, parts and service requirements of its customers. Outside, meantime, the property has a wide service area driveway and generous parking area up front. Moreover, the building layout boasts a neat façade with an all-glass front panels to attract more natural daylight and high ceiling with good ventilation, making trucks on display to be more visible from the outside.

With the newly inaugurated BSGMI Fuso Kawit dealership along with the timely upgrade of the Fuso lineup, customers now have a wider choice of truck models for all business applications and servicing requirements. Likewise, Fuso aims to augment its product and operational offerings to further address the growing market demand for reliable, durable, and high-quality trucks and buses nationwide.

Meanwhile, two of Fuso’s models—the 2018 FI and FJ truck se-

THE newly inaugurated Fuso showroom in Kawit, Cavite

ries—that have become the prime choices for today’s commercial businesses since its introduction were also presented. These truck models are key steps to Fuso’s vision as the market for medium- and heavy-duty trucks are steadily increasing. Aside from the Euro 4 emission compliance, the truck manufacturer engineered significant ancillary improvements to the FI and FJ models to allow for smoother operations and driver efficiency.

Fuso FI

THE six-wheeler FI 1217R presents a competitive advantage in the medium-duty segment. This 12-tonner

truck is powered by a new-generation 4D37 diesel engine generating 175 hp and 520 N-m of maximum torque.

Mated to a six-speed manual transmission, it offers consistent gradeability on the road, as well as smooth and improved driver turnaround time. For improved functionality, the FI 1217R is integrated with a Variable Engine RPM Control that enables the driver or porter to set his or her preferred RPM setting varying from the load required by the Power Take-Off (PTO).

The updated aerodynamic front fascia highlights an aggressive look.

Aside from the style factor, the aerodynamic styling also promotes better

fuel economy and reduces wind noise inside the cabin. Ancillary improvements on the FI’s cab exterior include the new Solar Windshield, which reduces the amount of heat being transmitted to the cabin. Moreover, door openings are made wider for ease of ingress and egress. The FI series interior, meantime, is fitted with LED room lamps for better cabin illumination and an additional storage compartment by ceiling. Fuso has also installed a new Intelligent Meter Cluster for liquid crystal display of vital driving indicators. As an added convenience, the cabin comes with a single-DIN audio system with a USB port. Aside from the auxiliary fog lamps and clear FTSL auxiliary lamps within the bumper for added illumination at night and during inclement weather, the FI is also equipped with a Cruise Control option for added driving ease and avoiding speed-limit violations.

Fuso FJ

REPRESENTING the heavy-duty lineup, this 25-tonner and 10-wheeler FJ 2528C can lade up to 16 cubic meters of variable load application.

These specifications allow the variant to accommodate various types of body applications, including Mixer and Dump bodies. Powered by a fuelefficient 6S20 diesel engine, it delivers 285 hp and 1,120 N-m of maxi-

mum torque. Paired to a nine-speed manual transmission, the FJ 2528C’s powertrain is well-designed for improved gradeability, better acceleration, and fuel economy. Additionally, this truck comes with a Differential Lock Buzzer that alerts the driver of the differential lock-on condition.

Frame members with added thickness are shot-peened and powdercoated for greater surface strength and resistance to corrosion. Taller stacks of main and helper springs are also installed to its rear suspension for increased load carrying capability.

Sporting a modern aerodynamic front fascia, Fuso is designed for fuel-efficiency and cabin noise reduction. For better illumination, the Fuso FJ is equipped with new Dual Chamber Headlamps with integrated LED Daytime Running Lamps (DRL).

Interior-wise, the 2018 FJ comes with improved ergonomics and newly designed fabric seat material for additional comfort plus an additional LED Room Lamp for increased cabin illumination. There’s also a singleDIN audio system integrated with a USB port. For safety features, the added Cruise Control and Variable RPM control will be useful for long drives across major highways. Moreover, all variants are configured with a Seat Belt Reminder, Central Lock mechanism, and are also fitted with wider doors for easy ingress.

Moto

Business

E2 Friday, October 5, 2018

THE fleet of the new Ford EcoSport at the Laiya Adventure Park in Batangas

THE top-spec Ford EcoSport Titanium variant churns out 123 hp under its hood

OCCUPANTS of the Titanium variant get to enjoy the convenience of a sunroof while getting 27 compartments that can pack 1,178 liters of load

ISUZU Iloilo Branch Manager Rene Tagamolila; IPC President Hajime Koso and Joseph Bautista, IPC sales division head

oring

sMirror

Friday, October 5, 2018

E3

SUAVE and spunky

THE signing ceremony was led by Cesar Romero (second from left), president and CEO, and Anthony Lawrence Yam (left), VP for Retail, of Pilipinas Shell Petroleum Corp. with Maria Fe Perez-Agudo, president and CEO of Hyundai Asia Resource Inc.; and Numeriano Cortez Jr., senior VP for Trade Operations and Development Cluster.

ISUZU’S 4x4 D-Max shows breathtaking abilities via the 4x4 ramp.

Motoring BusinessMirror

E4 Friday, October 5, 2018

Vios Cup fate hangs in the air?

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S it true that we just saw the final staging of the Vios Cup on September 22 at Clark International Speedway in Pampanga? Nobody would either confirm or deny it.

Just this from someone not authorized to speak on behalf of Toyota Motor Philippines (TMP): “Nothing definite.”

But why stop an event that has gained success after success each year in its five-year staging?

Surely, the legion of fans that the Vios Cup has built will be deeply disappointed if its demise happens.

When did a No. 1 car brand ever surrender?

At any rate, the following is the speech of TMP President Satoru Suzuki ushering in the fifth Vios Cup. Tell me if you sniff a hint of it being a farewell speech?

“Ladies and gentlemen, a pleasant morning to all of you, it is my pleasure to welcome you to the third and final leg of the Vios Cup Season 5! Thank you for joining us today in this momentous race for this season.

“Since the first Vios Cup in 2014, staging this event has been one of Toyota’s biggest efforts to introduce the thrill of racing and the essence of waku-doki spirit to the Filipino public.

“Now on its fifth season, we at Toyota are very proud that we were able to successfully reach out to the car enthusiasts and spectators, seeking to experience heart-

pounding races.

“As we begin the last race for this season, I would like to personally thank the unrelenting support of our major sponsors— Bridgestone, Rota and our official fuel partner Petron; supported by Motul, Brembo, AVT, 3M, Denso, OMP, Tuason Racing.

“Together with Toyota, you have been with us in our advocacy of promoting the passion of Filipinos in local motorsports.

Without your strong support, the Vios Cup would not be a big success.

“As our drivers start their engines and race off to the track, I

would like to wish them all a safe and exciting race! To our dealers, friends from the media, the various Toyota Car Clubs, and guests who gathered here today, thank you very much for being here to support your teams and cheer for your favorite racers.

“As we cap off this season, ladies and gentlemen… Let us start the fun for the last race of the 2018 Vios Cup! Racers, again, the best of luck, drive safe and let’s enjoy the waku-doki way!”

The Complete Results: (Thank you to TMP’s Crtistina “Tini” Arevalo, Royce Tomei L. Aquino and Jose Carlo G. Nemo.)

THE NEW ABARTH 595 RANGE T HE brand with the Scorpion badge introduces the new Abarth 595 range, which embodies the evolution of their most iconic model. Advanced engineering and care for details in a model capable of boldly expressing the two personalities of the brand—performance and style.

The four versions of the new 595 range are compact, light, agile and important all unparalleled in terms of customization. The 595 is a successful range that today presents new strengths sure to capture the trademark nuances of the Abarth character.

Hatchback or convertible, the new 595 range features four versions (595, 595 Turismo, 595 Competizione and 695 Rivale) with power levels from 145 to 180 hp, all Euro 6D-TEMP compliant, to satisfy all customer needs.

From the technical and performance point of view, peculiarly on the 595 Competizione, the main new feature is the new Record Monza Attivo exhaust, now standard and today equipped with an active valve controlled by a Sport button. Pressing the Sport button opens the exhaust valve and the engine rumble becomes deeper and bolder. The driver can choose a gentleman driver engine sound or a tougher, sportier—and more traditionally Abarth—roar.

While the 595 Competizione is somewhat more radical and designed for performance and no-compromise sports car fans, the 595 Turismo hints to the style and comfort typical of Italian GTs. There is plenty of focus on details, with premium leather interiors and Urban Pack that comes with light sensor, rain sensor and parking sensors.

Distinctive yet affordable, the 595 is Abarth’s entry-level model. It offers all the standard equipment needed to secure the thrilling driving pleasures typical of the creations of the brand with the Scorpion brand. For instance, the 595 has a flat-bottom steering wheel with a crosshairs insert in the middle, and a Sport button which, in this case, adjusts maximum torque output and the power steering and accelerator pedal settings. The braking system is specific to Abarth and ensures top-notch safety by fitting ventilated 284-mm discs on the front and 240-mm discs on the rear.

One range, two personalities— performance and style

ALL the models in the Abarth 595 lineup have special features picked to reassert

their sporty nature and boost performance.

For instance, the front end was redesigned with a much larger air scoop to improve heat management in the engine compartment and increase cooling capacity by 18 percent.

So, performance and smooth engine delivery are increased, even in the case of more extreme racing tune-ups. The extractor is quite pronounced on the rear bumper. To enhance its looks, specific bumper inserts have also been created for each trim level.

Abarth 595

THE Abarth 595 has been the real icon of the brand for 55 years, since the 1960s when was immediately successful as a result of its extraordinary performance, unusual for such a small car. When telling his life story, Carlo Abarth used to

say that “engines, cars, races, automotive passion and speed” were like “a disease, a wonderful madness that turned us into enthusiasts seeking to go faster, with ever perfected mechanics.” These words are part of Abarth’s manifesto still today and show how seeking performance is a genuine lifestyle, even more than a passion. Abarth 595 is the affordable model that invites drivers to embrace the tuneup concept and get behind the wheel of a car offering exhilarating performance and unmistakable style. Features such as front end with oversized air scoop, pronounced extractor on the rear bumper, 16-inch alloy wheels and racing dashboard complement the look and promise the great emotions that are secured by the 1.4 T-jet 145 hp engine.

Dempsey ready to take on Wuhan Street Circuit

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HERE’S going to be a new challenge for Pinnacle Motorsport and Jordan Dempsey at the FIA F4 Chinese Championship’s penultimate event. Scheduled from October 2 to 5, it will be the series’ first time to race on the Wuhan Street Circuit. The new, unfamiliar track allows the Irish-licensed team to compete on a level playing field as they continue their chase for the 2018 title.

Dempsey’s stellar performance at every event this year has quickly propelled the young 19-year-old up the driver’s standings. His two race wins at Shanghai just two weeks ago now gives him a 28 point advantage in the championship leading up to the race weekend.

However, unlike the other races, Wuhan is the only street circuit in the 2018 calendar. This will test Dempsey’s skill as he has never raced on a street circuit before.

The FIA F4 Chinese Championship’s sixth event will share the Wuhan Street Circuit this weekend with the WTCR, TCR China and CTCC. Accompanying Pinnacle Motorsport on their FIA F4 Chinese Championship campaign are partners Motorsport Ire-

land and P1 Racewear.

Dempsey said, “This is my first time racing on a street circuit and I’m looking forward to the new challenge. I’m going to have to build up to it over the test sessions but because we all get very little mileage here, you have to be quick straight out of the box.

I’m aiming to extend my championship lead this weekend and to make the finale as comfortable as possible! As always I have to say a huge thanks to Pinnacle Motorsport, Digital Planet, Motorsport Ireland, Sport

Ireland, Team Ireland and to my family for getting me here. I can’t wait to get a taste of a street circuit this weekend!”

The FIA F4 Chinese Championship is a junior single-seater series that caters to young drivers who are moving up from karting to F4, F3, F2 and eventually to F1. It is designed to keep costs down while providing an ideal learning tool. Drivers also earn points toward an FIA Super License. Know more about the FIA F4 Chinese Championship by visiting www.fiaf4.com.cn.