BusinessMirror October 18, 2019

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A broader look at today’s business n Friday, October 18, 2019 Vol. 15 No. 08

P25.00 nationwide | 5 sections 46 pages | 7 DAYS A WEEK

Hot money net outflow eases to $232M in Sept

Transport sector to get lion’s share of ADB loans

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By Bianca Cuaresma

@BcuaresmaBM

HORT-TERM investments made by foreign investors in the local market continued to indicate negative or riskaverse sentiment toward the local economic prospects, as it remained in the net outflow territory in September.

The Bangko Sentral ng Pilipinas (BSP) on Thursday reported that the country’s foreign portfolio inflow (FPI)—hit a net outflow of $231.71 million in September. While still in the red, it is an improvement compared to the $440.30-million net outflow in the same month last year and the $391.74-million net outflow in the previous month.

FPI are known as “hot” or “speculative” money because they are easily pulled in and out of the

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See “Growth,” A2

See “Quake,” A2

See “RCEP,” A2

PESO EXCHANGE RATES n

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STATE VISIT President Ram Nath Kovind of the Republic of India shakes the hand of Health Secretary Francisco Duque III, who together with Miaa General

Manager Ed Monreal welcomed him as he arrived at Naia Terminal 1 on Thursday for a five-day state visit in the Philippines. Kovind is the third Indian president to make a state visit here. The two countries are marking the 70th anniversary of the establishment of diplomatic relations between them. NONIE REYES

‘Trade war, ASF to crimp growth’ in 2020

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CONOMIC growth for next year may still fall below 6 percent, particularly if the Philippines will not be able to withstand

headwinds, such as the slowdown in global trade and the African swine fever (ASF) outbreaks.

Bank of the Philippine Islands (BPI) lead economist Emilio S. Neri Jr. outlined four key global and domestic factors that would challenge

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the country’s economic performance next year. Neri said “stronger” global headwinds are anticipated next year as there has been a discernible slowdown in the exports of China and the United States.

Net outflow of hot money in September 2018. The net outflow in August 2019 was $391.74 million

Quake-hit power service back online

@jearcalas

@alyasjah

OWER distribution services in several parts of Mindanao affected by a 6.3-magnitude earthquake are now back online.

The National Electrification Administration (NEA) said Thursday all electric cooperatives (ECs) that experienced power interruptions due to the tremor are now back to normal operations.

These are Cotabato Electric Cooperative Inc. (Cotelco), CotelcoPPalma, Davao del Norte Electric Cooperative Inc. (Daneco), Davao del Sur Electric Cooperative Inc. (Dasureco), Davao Oriental Electric Cooperative Inc. (Doreco), South Cotabato I Electric Cooperative Inc. (Socoteco I), Socoteco II, and Sultan Kudarat Electric Cooperative Inc. (Sukelco).

The NEA has directed all ECs in Mindanao to observe appropriate contingency measures to mitigate the impact of the earthquake.

Also, the ECs were also advised to “activate their Emergency Response Organization accordingly when the need arises to implement without delay the appropriate emergency response plans.”

Moreover, the ECs were required “to restore the electric service in areas, which were not affected by the earthquake but temporarily

See “Hot money,” A2

@caiordinario

By Jasper Emmanuel Y. Arcalas

By Elijah Felice E. Rosales

EGOTIATORS of the Regional Comprehensive Economic Partnership (RCEP) are ready to declare the conclusion of talks in November—with 80 percent of the trade deal closed—but one party is standing in the way: India, whose leader is in the Philippines for a state visit.

That’s why time is ticking for Philippine officials to convince their Indian counterparts to end the deadlock over the RCEP, which negotiators vowed to conclude this year after failing to do so last year.

As much as the government wants to focus on improving bilateral relations between the Philippines and India, Trade Secretary Ramon M. Lopez said it’s important to prioritize the region’s interest, too.

Lopez disclosed 20 of the 25 working chapters of the RCEP have been finalized—the five remaining on rules of origin, trade remedies, services trade, investments and e-commerce—over the past months through a series of negotiations made bitter by the Japan-South Korea and ChinaIndia trade tensions.

“The RCEP is nearing conclusion, and we want to really end the negotiations. Hopefully, when we, the ministers, report to all the leaders in the first few days of November in the Asean meet, we expect the report is really a report regarding conclusion of negotiations and completion of the RCEP,” Lopez said in an interview with reporters late Wednesday.

According to the trade chief, negotiators are targeting to submit to leaders the RCEP package

by November in Thailand and get the trade deal signed by next year in Vietnam.

“Legal scrubbing after [the submission], then to be signed next year in Vietnam [is the target].

Vietnam will be the host next year,” Lopez said.

By Cai U. Ordinario

HE Asian Development Bank (ADB) is hiking its lending to the Philippines for 2020 to 2022 amid Manila’s continuous efforts to resolve the worsening traffic congestion in major cities and rapid urbanization.

ADB Philippines Country Manager Kelly Bird said the Manilabased multilateral development bank will extend a total of $9.1 billion in loans to the Philippine government in the next three years.

Bird said this translates to $2.5 billion a year, making the Philippines the ADB’s third-largest borrower. The figure is higher than the annual average of $800 million in loans that the ADB usually extends to the Philippines.

“Not only have we scaled up our program, but we’ve rebalanced it as well, focusing now on transportation, which accounts for 60 percent of our lending program,” he told reporters in a news briefing on Mandaluyong City on Thursday.

The ADB’s largest project in the Philippines is the $2.75-billion Malolos-Clark Railway Project.

It involves the construction of a 51.2-kilometer railway that will connect Clark Airport in Pampanga to Malolos, Bulacan.

The bank said the MalolosClark Railway Project is also the largest project it is financing to date. Contracts for civil works for the project are expected to be awarded before the end of the year

$440.3M

RCEP parties inch closer to concluding trade deal

US 51.6780 n JAPAN 0.4752 n UK 66.3235 n HK 6.5878 n CHINA 7.2837 n SINGAPORE 37.7212 n AUSTRALIA 34.9137 n EU 57.2282 n SAUDI ARABIA 13.7782 Source: BSP (17 October 2019 )

News

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A2 Friday, October 18, 2019

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BSP okays adopting national-scale QR code

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By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) has adopted a policy requiring the adoption of a National Quick Response (QR) Code Standard for payments.

In a statement on Thursday, the Central Bank announced that the monetary board approved the adoption of a QR code on a national scale, to ensure interoperability of QR-enabled payment

and financial services.

The newly approved policy prescribing a National QR Code Standard provides that the country’s Payment System Management Body—the Philippine Payments

Management Inc. (PPMI)—must determine the National QR Code Standard in coordination with key stakeholders, particularly the payment service providers (PSPs), both banks and nonbanks.

Also, to ensure that the country’s QR-enabled payment and financial services are interoperable not only on the domestic but also on a wider regional or global scope, the policy requires that the National QR Code Standard be aligned with the international standard.

The BSP said the QR technology has emerged as the most convenient and cost-efficient means of moving funds from one account to another; and the use of

interoperable QR Codes has been gaining traction as an alternative to the traditional debit and credit cards.

“A QR code contains most, if not all, of the critical information, such as account name and account number, which are required to be specified in a payment instruction.

As such, the use of this code minimizes encoding errors. Moreover, it is faster and easier to just scan the code than to dip or swipe a card, and sign a charge slip,” the BSP said.

For the adoption of a QR Code standard on a national scale, the BSP’s aim is to include the micro and small enterprises onboard the

ANGARA MOVES TO LEGALIZE ‘ANGKAS’ MOTORBIKE-FOR-HIRE

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ITING the worsening traffic gridlocks in Metropolitan Manila’s main thoroughfares, Sen. Juan Edgardo Angara is pushing for the legalization of motorcycle taxisfor-hire, as typified by the very popular bike-hailing firm Angkas, which now operates just on a provisional authority from regulators.

“Traffic in Metro Manila is getting worse by the day, the mass transit systems are constantly breaking down and many commuters are left with no choice but to use motorcyclesfor-hire or ‘habal-habal’ to get from point A to point B,” Angara pointed out recently.

In a statement, Angara acknowledged that “technically, this increasingly popular mode of transport is still considered illegal under the Land Transportation and Traffic Code, which covers the registration and operation of all motor vehicles in

the country.”

He recalled that Angkas was earlier allowed to operate for six months starting last June 8 as part of a pilotrun of ‘motorcycle taxis.’

Asserting that commuting in Metro Manila has become “very challenging,” the senator noted, for instance, that a typical commuter has to allocate at least two hours to get to work or school “and that is, if their regular modes of transport are available. What if the MRT breaks down?

Kulang pa ang dalawang oras mo sa byahe [Your two hours for commuting then won’t be enough].”

Angara noted the recent fire that disrupted half of the LRT 2 segment, inconveniencing, he said in a mix of English and Filipino, “thousands of Filipinos, most of whom were forced to turn to habal or motorbike taxis because these are cheaper compared to Grab.”

RCEP. . .

Quake. . .

However, this objective of ending the negotiations by November is put at risk by India, which is suffering from significant trade deficits with some of the parties to the RCEP. New Delhi is reluctant to liberalize its market, especially in a trade deal including Beijing, with which it had a trade deficit of about $54 billion during the last fiscal year.

In India, opposition to the RCEP and the tariff reduction it entails is stiff across industries, from steel mills and dairy farms to pharmaceutical factories and textile plants.

India’s sentiments against the RCEP are so strong negotiators are looking at giving them three months after the conclusion of talks to work on a tariff-reduction program.

“The agreement there is for [India] to be able to settle with us [RCEP parties] on what would be the compromise on their end because they cannot just insert their demands at a time we are nearing to conclude negotiations. What it really means is that we should be able to conclude already,” Lopez said.

“If there are items pending that they cannot also give away and are really important to them, if the other parties are open, then we can develop a work program in the next three months,” the trade chief said.

RCEP, seen to become one of the world’s largest trade deals, is negotiated by memberstates of the Association of Southeast Asian Nations, Australia, China, India, Japan, New Zealand and South Korea.

Last year RCEP economies accounted for nearly half of the world population, close to one-third of the global economy, 29.1 percent of global trade and about one-third of global investment inflows.

The RCEP covers trade in goods, services trade, investments, intellectual property, movement of people, electronic commerce, and dispute settlement, among others.

Indian President Ram Nath Kovind is in the Philippines until the weekend for a state visit upon the invitation of President Duterte.

Aside from holding bilateral talks, Duterte and Kovind will witness the signing of several bilateral agreements between Manila and New Delhi.

Last year, merchandise trade between the two Asian economies expanded 5.8 percent to $2.37 billion, from $2.24 billion in 2017, according to Philippine Statistics Authority (PSA) data.

shut off for safety reasons.”

The 6.3-magnitude earthquake struck North Cotabato and several parts of Mindanao on Wednesday, October 16. According to the Philippine Institute of Volcanology and Seismology (Phivolcs), it was tectonic in origin and recorded at around 7:37 p.m.

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Growth. . .

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“Our external advisers tell us that the US and China growth deceleration in 2020 may even be more severe due to both cyclical and protectionist factors,” he said during the BPI’s macroeconomic outlook briefing in Makati on Thursday.

As for the country’s exports data, Neri said shipments to the European Union and even to Asean are declining year-on-year through August. “[Export] is anemic, it’s hardly growing at all, coming from a very weak performance last year. The big portion of the drop is due to the EU and unfortunately Asean disintegration— instead of integrating, we are seeing a drop of exports to the rest of Asean,” he added.

Neri said the “aggressive” frontloaded borrowings of the Bureau of the Treasury, which have been parked idly with the Bangko Sentral ng Pilipinas (BSP) during the first 7 months of

Vaping. . .

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“We do not support their claim of reduced harm. These products endanger the health of both users and nonusers, and are clearly not meant for children,” he added.

An increase in vaping-related illnesses in the US has been reported in recent months, mostly afflicting otherwise healthy young people.

Certain vape product makers said the illnesses and deaths were traced to the illegal use of harmful chemicals with their products, and therefore such wrong practice

In moving to legalize Angkas operations to serve commuters, the senator cited Republic Act 4136, also known as the Land Transportation and Traffic Code that, he noted, only allows the registration of motorcycles for either private or government, and prohibits its listing as a vehicle for hire.

He noted, however, that individuals and even unaccredited transport groups, continue to utilize motorcycles for public transport “despite explicit prohibition of such operation under the same law.”

Angara affirmed that motorcycles-for-hire have long been around and for some provinces, this is even considered a primary mode of public transportation. “ The demand for this service simply cannot be ignored, which is why I have filed a bill seeking to legalize the operation of motorcycles-for-hire,” the senator stressed.

In filing Senate Bill 1025, the

senator sought to amend the Land Transportation and Traffic Code to allow motorcycles to be registered with the Land Transportation Office (LTO) as “for hire” and used as a commercial vehicle to transport passengers and goods. It provides that in order to be registered for transporting passengers, a motorcycle must have a minimum engine displacement of 125 cubic centimeters and a backbone-type built.

The Angara bill further tasks the LTO with ensuring the roadworthiness of motorcycles-for-hire before they are registered. “To further ensure their safety, no modifications on the motorcycles will be allowed, except for the installation, based on safe engineering design specifications of motorcycle luggage carriers, saddlebags, step boards or foot pegs, and appropriate speed limiter and monitoring device,” the bill added.

Affected power generation facilities in Mindanao, meanwhile, were expected to be restored Thursday.

The DOE reported that Mindanao Geothermal Power Plant (MGPP) units 1 and 2, with a total net generation of 91 megawatts, tripped at 7:37 p.m. of October 16.

MGPP Unit 2 was restored at 3:13 a.m. of Thursday, while MGPP Unit 1 was expected to be restored

at 10p.m. of October 17.

On the transmission side, the Department of Energy (DOE) said Thursday morning that the power transmission backbone in Mindanao remains intact. There have been no reports of damaged transmission facilities or high voltage equipment in South and North Cotabato.

Likewise, the agency said there is no damage to both upstream and downstream oil facilities.

the year, “caused a massive domestic liquidity squeeze.”

He said the government’s borrowings practically negated the 2-percentage point reduction in the reserve requirement ratio.

“If government starts spending again, and they withdraw funds from BSP, which have been locked, then [the funds] will recirculate in the system, allowing the economy to enjoy more liquidity,” Neri said.

As for corporate borrowings, Neri said there has been slower demand for loans among their large firm clients who may be waiting for interest rates to fall further. He said these clients took on less long-term loans for long-term projects compared to previous years.

“One phenomenon here is behavioral economics. Corporates wait for interest rates to fall to their bottom before they become aggressive in borrowing long-term loans,” he said.

“You will not lock your borrowing rate if you believe that interest rates will continue to go

down. The anticipation of lower interest rates instead of fueling more borrowings actually causes some hesitation because they tend to wait for the bottom to come before they start borrowing aggressively,” he added.

The BPI’s lead economist also noted that the slowdown in manufacturing caused by the plunge in the farm-gate prices of rice and pork could slowdown economic growth.

“We cannot shrug off the potential drag resulting from income losses of farmers due to the collapse in the farm-gate price of rice and the impact of the discovery of ASF in the livestock sector,” Neri said.

The Philippines could grow by 6.4 percent next year sans these headwinds, higher than the estimated 5.9 percent for this year, he said.

“If we can hurdle these factors in early part of 2020 and in the latter part of 2020, we should be back on track to [achieving] GDP growth of 6 percent to 7 percent. If not, we will probably have to see another sub-6 percent growth,” said Neri.

should not be blamed on them.

With 1,299 cases and 26 deaths reported, the US Centers for Disease Control and Prevention, and the US Food and Drug Administration are currently investigating the reports.

In support of WHO’s efforts, the DOH urged all government and private hospitals, clinics and other health facilities to use proper codes for designating vaping-related disorders to allow existing health information systems to capture data on vaping-related disorders.

Information on the potential harm of novel and emerging nicotine products can guide future

policy directions for electronic cigarettes.

All health and allied health professionals were urged to be vigilant in identifying risks during routine clinical evaluations by taking the history of tobacco use and use of ecigarettes or vapes in all patients.

DOH also called on the medical community, parents and teachers to help address the widespread use of electronic cigarettes, particularly among the youth and young adults.

“People who have recently used e-cigarettes or other vaping products should immediately seek medical attention if they develop respiratory symptoms,” said Duque.

Lenie Lectura

financial system.

“The merchants simply need to print out the code on a piece of paper and display the code for their clients to scan using a smartphone. This operational requirement entails much lower cost than investing in electronic data capture equipment like point-ofsale terminals which are usually needed for card-based payment transactions,” the BSP said.

The newly approved policy will also require payment service providers to have the necessary measures to manage the threats and vulnerabilities associated with this technology. They are also required to establish an “ap-

propriate pricing mechanism” for QR-enabled payment and financial services to encourage their clients to use these services.

For a smooth implementation of the standard, the policy sets out a period within which the PPMI shall inform the BSP of the Standard approved by the PPMI Board.

The PSPs shall then adopt the Standard within 30 calendar days from the date of said notification.

“Never theless, consider ing that a number of PSPs have been offering QR-enabled payment services, the policy allows these PSPs to fully comply with the Standard up to June 30, 2020,” the BSP said.

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and construction work may begin in the second quarter of 2020.

Apart from the railway project, ADB is also financing eight key road and transportation projects which are up for approval by the ADB Board and the Philippine government next year and in 2021.

The projects up for approval next year are the $1.2-billion South Commuter Railway project, $180-million Metro Manila Bridges Project, $100-million Edsa Greenways Project; and $70-million Davao Public Transport Modernization Project.

Those that may be approved in 2021 are the $500-million Metro Rail Transit Line 4 project, $500-million Bataan-Cavite Bridge Project, $500-million Laguna Lakeshore Road Transport project and the second tranche of the MalolosClark Railway project costing $1 billion.

The ADB said it is preparing additional financing this year for the Infrastructure Preparation and Innovation Facility to support detailed engineering designs and feasibility studies for the government’s priority projects under the BBB program.

“This will ensure a steady flow of investments into much-needed infrastructure projects that are viable and innovative,” the bank said.

Agri investments

APART from road and transportation projects, the sectors that will also receive the largest portion of ADB’s lending to the Philippines in the next three years are Public Sector Management (PSM) and Agriculture and Natural Resources (ANR).

Bird said projects under PSM now account for 14 percent of its lending while those under ANR account for 10 percent. While PSM has always taken a large portion of ADB’s assistance, the bank said it has decided to hike its investments in ANR.

Hot money. . .

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local platforms in the slight change of global and local sentiment.

This type of foreign investment is usually a measure of the global economy’s investing sentiment in the Philippines in short-term prospects for yields, in contrast to foreign direct investments (FDI) which are investments placed in the Philippines in search for longterm yield.

The net outflows in the first nine months of the year amounted to $1.33 billion—a stark reversal of the $75-million net inflows seen in the same January-to-September period last year.

The BSP said among the developments that influenced investor behavior toward the Philippines during the month included: ongoing trade tensions between the US

He said prior to the Country Operations Business Plan (COBP) 2020–2022, ADB’s lending for ANR accounted for only 1.6 percent.

“We’re ramping up for two reasons. One is the agriculture sector has been a drag on economic growth for the last two to three years; it’s been less than 1 percent. And, and you still have a large segment of the population reliant on agriculture,” Bird said.

“The government has now implemented some major reforms that will help set the agriculture sector on a par for improved competitiveness. And what [the ADB is] doing now is implementing some programs and projects that are going to support that,” he added.

Some of these projects are the $300-million Support for Agrifood System Competitiveness Program and the $100-million Mindanao Irrigation Development Project.

The ADB said it is preparing the Integrated Flood Risk Management Sector project for 2020, which will focus on six river basins across the country.

The bank’s 2020 program will include financing for the Expanded Social Assistance project, which will build on a decade of ADB assistance to the government’s conditional cash transfer program and support for the government’s agricultural competitiveness program.

“This latest Country Operations Business Plan reflects ADB’s strong commitment to supporting the Philippines’s efforts to sustain inclusive economic growth, create business and job opportunities in the regions, and widen the reach of the government’s education, health, and social protection programs,” said Bird.

In 2018, the ADB made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from Asia and the Pacific. and China; attacks on Saudi Aramco’s oil facilities in Saudi Arabia which triggered the largest jump in oil prices in decades; the US Federal Reserve’s decision to cut interest rates; the BSP’s decision to cut interest rates and the reserve requirements ratio of banks; and the impeachment inquiry against US President Donald J. Trump.

About 80.2 percent of investments registered during the month were in PSE-listed securities—pertaining mainly to property companies, holding firms, banks, food, beverage and tobacco companies, and transportation firms—while the remaining 19.8 percent went to investments in Peso government securities.

The United Kingdom, the United States, Singapore, Malaysia and Luxembourg were the top 5 investor countries for the month, with combined share to total at 72.3 percent.

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The Nation BusinessMirror

Labor groups nix proposal to extend workers’ probie period to two years

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AGKAISA Labor Coalition thumbed down the proposed measure extending the maximum probationary period of workers from the current six months to two years, saying that the proposal is an “attack on security of tenure” since this would practically legalize the end of contractualization scheme.

Probinsyano A ko Party-list Rep. Jose “Bonito” Singson Jr. filed House Bill 4802 proposing that the current maximum sixmonth probationary period is not enough time for the employer to determine if the probationary employee is qualified for a regular employment.

Singson earlier said employers are left with no recourse but to end the probationary employment even if they are still in the process of evaluating the employee to avoid automatic regularization of an unqualified employee in their work force.

However, this bill did not sit well with the coalition, saying this in effect would legalize fixed-term employment of two years and that this could even “sustain the turnaround” of President Duterte who vowed to end contractualization.

“Rep. Singson has shown his true colors. He has unabashedly justified the practice of ‘Endo,’ which is explicitly illegal. It’s as though employers are forced by circumstances to fire workers when they are in fact just circumventing the law,” Nagkaisa said in a news statement. “Now, he wants to practically legalize ‘Endo,’ prolong the hardships of workers and kill them with insecurity without accountability for two years. Probinsyanos as with the labor force in the urban areas want security of tenure.”

Contrary to Singson’s opinion, the coalition said employers can regularize workers in as short as three months as their skills and capabilities would have been demonstrated by then.

“Filipino workers are skilled and trainable, and are prequalified prior to employment. As such, they can even be considered regular on their first day of employ-

ment,” he said.

The group also slammed Singson for making a “false assumption” that the bill will be creating better job security for the average probationary employee, as well as for “erroneously” implying that probationary and contractual workers are not entitled to mandatory benefits.

According to Nagkaisa, probationary and contractual workers are entitled to mandatory benefits, such as SSS, PhilHealth and Pag-IBIG, from their first day of work.

“Unscrupulous employers deliberately exploit the loopholes of the law. Instead of rewarding them by legalizing their unlawful practice, they should be criminalized by doing it,” he said.

Training workers during employment, they said, is also a principal function of employers and should not be passed as an added burden to the worker as a requirement for regularization, as they have been prequalified prior to hiring. Besides, the workplace should be the venue to acquire skills, talents and additional qualifications.

“It is a derogation, or an attack, on security of tenure, which workers are entitled to after a period shorter than six months as guaranteed by existing laws, for more than 50 years now. This is an insult to the labor movement and the 44 million Filipino working class,” read the statement.

In a separate statement, Nagkaisa Spokesman Renato Magtubo, chairman of Partido Manggagawa, also explained that a longer probationary period is more beneficial to the employer than to the workers because employers will still have a final say.

“The longer the probationay period, the harder for the worker to acquire regular status, as such, his/ her security of tenure will greatly affected,” Magtubo said.

Despite certifying the bill as urgent, the President vetoed the security of tenure bill since it expanded the definition of laboronly contracting which could lead to labor displacement.

Bernadette D. Nicolas

LGU leaders or econ team: To whom shall Duterte listen in resolving IRA dilemma?

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By Bernadette D. Nicolas

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Other officials, however, gave what seemed to be conflicting accounts of the accident. Sen. Christopher “Bong” Go, a former longtime aide of Duterte, said the President was driving his motorcycle when it skidded and he fell. As a result, the President was feeling some pain in the hip, but Go said he was fine.

Brig. Gen. Jose Niembra, who is in charge of forces securing the President, told reporters without elaborating that Duterte did not fall from the motorcycle during the accident.

The 74-year-old president is an avid rider of big motorcycles, like Harley-Davidson, and has said he once had a serious crash during a

This, even after the President said earlier this month that he was open to exploring options for its early implementation.

In separate interviews with the BusinessMirror, the League of Provinces of the Philippines (LPP) and the League of Cities of the Philippines (LCP) confirmed that there was still a “difference in opinion” between the LGUs and the President’s economic team on the implementation of the High Court decision on wider share for national taxes, even after Duterte, together with Finance Secretary Carlos G. Dominguez III and Budget Secretary Wendel E. Avisado, met with the LCP and LPP last October 11.

LPP President and Marinduque Gov. Presbitero Velasco Jr., who was also a former chief justice of the SC said that local government units maintained their position that the date of the execution of the ruling should be June 11, 2019, a day after it lapsed into finality.

Thus, the 2019 national tax allotment (NTA) for LGUs for the remaining two quarters should be based on the national taxes collected in the same period in 2016. This, he said, is different from the government’s position that the year that the decision came out should be the base year so the LGUs would start receiving a higher share in 2022.

“So Secretary Dominguez maintained that it should be 2022 while the LGUs maintained that it should be 2019,” Velasco said.

But Velasco argued during the meeting that the motion filed by

long-distance run and could still feel those injuries.

A lack of regular medical bulletins on the President’s health sparks sporadic speculation about the state of his health, especially when he has failed to appear in public for days.

When Duterte did not show up in public for more than a week in August, Panelo explained that the President was busy reviewing documents he needed to sign and stressed he was healthy because he managed to bike around in his hometown in southern Davao City.

“He got enthusiastic and rode out of the village enclave on a motorcycle, alarming the Presidential Security Group,” Panelo told reporters then. AP

Marikina revives Nutribun to combat malnutrition among schoolchildren

By Claudeth Mocon-Ciriaco Correspondent

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EMINISCENT of the late 60s and early 70s, the city government of Marikina has officially implemented its Nutribun distribution and feeding program to schoolchildren, stressing that nutrition affects children’s performance in school.

“Study shows that proper nutrition has something to do with the performance of children in school,” Mayor Marcelino Teodoro said during the launch of the program at Parang Elementary School on Wednesday morning.

Teodoro said that they will observe

after 120 days if the performance of the pupils would improve indeed. The launch was attended by more than 1,000 kinder and elementary students, and their parents.

The mayor said the city government came up with giving free breads fortified with vitamins, minerals and milk, to kinder and elementary students to help in their nutritional needs.

However, the mayor told the parents not to solely rely on schools in providing proper nutrition to their children as they should be the ones advocating healthy eating habits.

Likewise, the city government will conduct a seminar on nutrition among parents to teach them the recom-

ment in order to help the government in implementing the decision and, at the same time, avoid increasing the country’s fiscal deficit.

The former chief justice said the President vowed to study their proposed options, such as the President issuing an executive order allowing a deferred payment scheme through the Department of Budget and Management’s issuance of a Notice of Payment Schedule (NPS) to all LGUs for the NTA adjustment due this 2019.

“With that IOU, or the certificate of payment schedule, we say that the Office of the Solicitor General we can get a loan from LandBank insisting that the LGUs would start or Development Bank of the Philipreceiving the adjusted Internal Revpines using that like a collateral or enue Allotment (IRA) in 2022 was guarantee that it will be paid. It’s not denied by the SC. really collateral

mainly but in effect For its part, the government has it’s like that,” he said. since stood firm that the postpone Velasco said they also proposed ment of the adjustment of the wider that the national government pay share of LGUs in all national taxes them the P98-billion NTA shortfall is in accordance to the SC decision, for 2019 on a five-to-seven-year which they said, will be prospectively installment basis with zero to two effective starting the 2022 budget years grace period beginning 2020 cycle due to the so-called doctrine or 2022. of operative fact.

“What we are saying is we think Sought for comment on the meetit won’t result to an increase [in fising, Dominguez said: “Told them cal deficit] of as much as 0.9 percent exactly what I told Congress.” because we can do it on a staggered While he did not elaborate furbasis,” he said. ther, Dominguez has since said “We are not forcing them to pay that the SC’s ruling will widen it all at once, as long as they can give the country’s fiscal deficit from something to the LGUs in 2020 [or the current ceiling of 3.2 percent 2022] representing those that they to 4.1 percent. claim as adjusted IRA amount or now Despite the differences, Velasco we call NTA,” he added. said, they had already proposed sev Another option that they are eral options to the national governlooking into is for the government to @BNicolasBM

RESIDENT Duterte appears to be caught in a bind on whether he will heed the appeal of local government unit leaders for an earlier implementation of a Supreme Court ruling on LGU’s rightful share from national taxes.

DUTERTE SLIGHTLY HURT FROM MOTORCYCLE FALL

RESIDENT Duterte fell off his parked motorcycle on the palace grounds, suffering bruises and scratches, but the minor injuries won’t affect his schedule, his spokesman said Thursday. “ W hi le it is tr ue that the president roamed around with his motorcycle,” he fell after he had already parked it Wednesday night, Presidential Spokesman Salvador Panelo said. Duterte was reaching for his shoe when he fell and had “light bruises and slight scratches to his elbow and knee,” he said.

The President was resting Thursday and his recovery will not require any “major medical procedure,” Panelo said.

Editor: Vittorio V. Vitug • Friday, October 18, 2019 A3

mended food daily allowance needed by their growing children.

Meanwhile, Teodoro also lauded former City Counselor Judy Magtubo, head of the program, for successfully implementing all his plans in the Nutribun program.

Magtubo said that they are also providing milk to go along with the fortified bun. Marciana de Guzman, principal of Parang Elementary School, said there around 600 malnourished children in Parang Elementary School, out of about 4,000 enrolled students from Kinder to Grade 6.

According to the principal, they have their own bakery which they call “Nutripan.”

implement a monetization scheme for the 2019 NTA adjustments beginning 2020 or thereafter where LGUs can collect its lumpsum, or they can opt to wait for their NPS to mature.

The monetization program, Velasco said, was already done during the time of then-President Gloria Macapagal-Arroyo in 2005.

According to Velasco, Dominguez offered help for the LGUs to make it easy for them to get a loan from DOF without really getting an IOU or certificate of payment schedule.

But he said the problem with Dominguez’s offer was that the LGUs do not have the money to pay for those loans as their mandate is dependent on the share that they are getting from all national taxes.

Nonetheless, both the LCP and LPP expressed confidence that the President will support their position.

LCP President and Bacolod City Mayor Bing Leonardia said they found comfort that the President is “sympathetic” to their cause even if there is a clear difference in opinion between them and the President’s economic team.

“We are not giving up and we will continue to pursue and explore options for LGUs. We are, likewise, hopeful that this will be resolved soon as the President stated that he shall study this matter further,” Leonardia said in a statement to the BusinessMirror.

The President has again called for a second meeting on the same issue on October 28.

A4 Friday, October 18, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PHL asks Japan: Cut tariff on banana export to zero

By Jasper Emmanuel Y. Arcalas

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@jearcalas

ANILA has appealed again to Tokyo to cut its tariff on Philippine bananas to zero percent as the former seeks to maintain its market share in the heavily contested Japanese market for the yellow fruit.

The request was conveyed by Agriculture Secretary William D. Dar to Japan’s Vice Minister of Agriculture, Forestry and Fisheries Shinya Fujiki during a bilateral meeting last October 16, in Brunei Darussalam.

“I would like to request your support for the preferential tariff rate of zero percent for Philippine bananas

in Japan, which currently imposes 18-percent tariff during the winter season and 8 percent during the summer,” Dar said.

The Department of Agriculture (DA) said Japan is one of the countries where Philippine bananas are heavily taxed.

In fact, Japan used to be the larg-

est importer of Philippine bananas until China took the spot in 2018.

From January to July, the Philippines exported 788,048.058 metric tons of cavendish bananas to Japan, which was 54.27 percent higher than the 510,801.497 MT shipped in the same period of last year, Philippine Statistics Authority data showed.

Banana industry stakeholders like the Pilipino Banana Growers and Exporters Association (PBGEA) have been lobbying for the reduction of Japan’s tariff so that Philippine bananas could keep its ground against other exporters which enter Tokyo at lower duties.

PBGEA argued that reducing, or eliminating the tariff, would keep the Philippines competitive against Japan’s other banana suppliers that are exporting to the East Asian country at zero tariff.

In response, Fujiki was quoted as saying that he wished to discuss the proposed tariff reduction by the Philippines on the context of the on-going review of the Philippines-Japan Economic Partnership Agreement.

During the bilateral meeting, Dar also sought updates for the Philippines’s request of market access for hass avocados and the accreditation of the country as a foot-and-mouth disease-free nation.

For his part, Fujiki raised the elimination of tariff imposed by the Philippines on Japanese rice and their request for market access of Japanese strawberries in the Philippines.

“Both countries agreed to fasttrack the submission of necessary documents to expedite the process to enhance trade for both sides,” The DA said.

www.businessmirror.com.ph

BFAR hoists ‘red tide’ alert in Visayas provinces, Palawan

By Jonathan L. Mayuga @jonlmayuga

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HE Bureau of Fisheries and Aquatic Resources (BFAR) has hoisted the “red tide” alert in several areas in the provinces of Palawan, Bohol, Western Samar and Leyte.

In its Shellfish Bulletin issued on October 15, 2019, Agriculture Undersecretary for Fisheries Eduardo B. Gongona, concurrent Director of BFAR, said based on laboratory tests jointly conducted with local government units (LGUs), shellfishes collected at Puerto Princesa Bay, Puerto Princesa City in Palawan; coastal waters of Dauis and Tagbilaran City in Bohol; Irong-irong, San Pedro, and Silang in Western Samar; and Cancabato Bay, Tacloban City in Leyte are still positive for paralytic shellfish poison that is beyond the regulatory limit.

As such, the public is warned against consuming all types of shellfish and Acetes sp., or locally called alamang, coming from these areas.

Meanwhile, fish, squids, shrimps,

and crabs coming from these areas are safe for human consumption but BFAR advised the public that they are washed and cooked thoroughly, and internal organs, such as gills and intestines removed before cooking.

Meanwhile BFAR said coastal waters of Cavite, Parañaque, Las Piñas, Navotas, Bulacan and Bataan, particularly Mariveles, Limay, Orion, Pilar, Balanga, Orani, Abucay and Samal, in Manila Bay, remain free from toxic red tides.

Las Piñas and Parañaque experienced a massive fish kill on October 9, while coastal waters in Cavite province, particularly Bacoor and Sangley Point experienced massive shellfish mortality on October 11, but BFAR assured that these areas are not affected by red tide.

Following the fish kill and shellfish mortality, the BFAR has advised stakeholders, particularly fishermen and mussel growers or farmers, not to collect dead fish or gather mussels to make sure they do not reach the market.

Other coastal areas not covered by the “red tide” bulletin issued by BFAR remain free of toxic red tides.

House leader urges Senate BIR’s stand on tax-free expanded maternity leave benefits lauded to fast-track passage A of foreign investments bill

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HE chairman of the House Committee on Economic Affairs on Thursday called on senators to fast-track the passage of a bill that would allow the entry of more foreign direct investments to the country to support much-needed infrastructure projects and address worsening traffic conditions nationwide.

In a news statement, AAMBISOWA Party-list Rep. Sharon Garin said the country’s restrictive policies on foreign investments hamper the influx of investments in infrastructure development and mass transportation.

Citing the “dismal findings” of the Japan International Cooperation Agency last year, Garin said there is a “need to address the crisis robbing the country P3.5 billion in lost opportunities daily.” “[The] Philippines has been identified as the most restrictive out of the 69 economies studied by the Organization for Economic Cooperation and Development. We need to acknowledge that several

of our laws need to be updated to keep up with our present economic activities, most notably, the Foreign Investments Act,” Garin said.

In September, the House of Representatives approved on third and final reading House Bill 300, or the amendments to Republic Act 7042 or the Foreign Investments Act, which Garin is the principal sponsor.

The measure seeks to lower the threshold for foreign investors to own small and medium enterprises by allowing them to do so with a minimum paid up capital of less than $100,000 if the business involves advanced technology or if they employ at least 15 direct employees.

“I strongly believe that these amendments to the Foreign Investments Act would boost the country’s performance and competitiveness. By reducing some of the restrictions imposed by law, we can look forward to more jobs being generated, improved quality of human resource, and a more sustainable economic growth,” Garin said. Jasper Emmanuel Y. Arcalas

BIR exec suspects Pogo workers using work-from-home schemes

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HE Bureau of Internal Revenue (BIR) is looking into the possibility of work-from-home jobs linked to the Philippine Offshore Gaming Operators (POGO) businesses after the agency discovered numerous quantities of laptops during a raid on Thursday.

T he BIR has pad locked t wo POGO establishments in Pasay and Parañaque C it y due to the firms’ failure to pay ta xes w it h an estimated worth of P100 million.

Officials said that the businesses are registered with BIR as “Altech Innovat ions Business Outsourcing” under the name of a single person.

In an interview, BIR Deputy Commissioner Arnel Guballa said

the agency will conduct a research in case it sees more POGO branches full of laptops, rather than the usual desktop computer setups. “We will of course look into it and study the possibility…[of work-from-home POGO businesses] if we see more firms that also use laptops,” Guballa said.

He added that the team will track down POGO firms regardless of location. “Some tax payers are hard to tax, we spent a lot of our time and deployed our intelligence units to track them,” Guballa said.

The BIR expects positive results on POGOs’ voluntary tax compliance. “Yes we are expecting an increase in compliance because of our recent enforcement activities. We want to tell these service providers that in this country, you must always comply with the law,” he said.

Finance Assistant Secretary Tony Lambino is keen on reminding foreign nationals to pay their taxes. “[Finance] Secretary Dominguez said that there should be an equal implementation of the law. It isn’t fair for Filipino tax payers who duly pay their taxes monthly, while[some] foreign nationals [don’t].... It’s only a matter of fair implementation of the law, it’s making sure that everyone is complying with their duties and responsibilities,” Lambino said. Jove Moya

KBAYAN Sen. Risa Hontiveros on Thursday welcomed the Bureau of Internal Revenue’s (BIR) announcement that the salary differential provision in the Expanded Maternity Leave (EML) law is not subject to tax.

The EML law, principally authored and sponsored by Hontiveros, increases the number of paid maternity leaves from the current 60 to 105 days. Solo parents receive an additional 15 days, for a total of 120.

It also has a “daddy quota” provision that allows the allocation of seven maternity leave days to fathers.

“Ito ay isang maagang pamasko sa lahat ng mga working nanay at kanilang mga babies. Sa isang panahon na kaliwa’t kanan ang ating mga binabayarang buwis, tax-free na ang expanded maternity leave benefits ng mga kababaihan!” Hontiveros said.

“Healthy hindi lamang si nanay at ang kanyang baby, healthy din ang bulsa natin,” she added.

The BIR, in a memorandum posted last October 9, said that based on the new provisions of the EML law and its implementing rules and regulations, as well as the respective issuances of the

Social Security System (SSS) and the Department of Labor and Employment (DOLE), the maternity benefit of the female worker has been expanded from the previous 100 percent of the average daily salary credit to a full pay, or salary, which includes now the salary differential as its component, aside from the added duration of the maternity leave. Hence, the salary differential is considered as a benefit and exempted from income and withholding taxes.

Those who are covered by the tax exemption are working women who

have a salary above the SSS benefit and whose employers are required to pay the difference between the SSS benefit and the actual salary.

“This is welcome news indeed.

Now mothers and their families will not only be able to enjoy the biological benefits of the EML law, but their financial welfare is also looked after, particularly those who earn just enough to meet basic needs and still feel the pinch in times of economic strain. This is truly an early Christmas gift to all working mothers and their families,” Hontiveros said.

Palace vows aid to Mindanao quake victims

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ALACAÑANG on Thursday pledged to extend help to victims of the deadly earthquake that rocked parts of central Mindanao on Wednesday night, killing at least four people and injuring 27 others.

Presidential Spokesman Salvador Panelo said the Palace would direct all concerned government agencies to render immediate assistance to quake victims.

“The Office of the President has already tasked all concerned agencies of the government to mobilize, respond and provide immediate assistance to those in need, as well as to study plans on how to rehabilitate the damaged areas,” Panelo said in a news statement.

A 6.3-magnitude earthquake rattled North Cotabato on Wednesday night and was felt in nearby provinces.

The strong quake caused serious damage to several buildings and infrastructures in the affected areas.

Local chief executives from quake-stricken areas in Mindanao were prompted to order the suspension of classes on Thursday.

In a news conference, Panelo said, the Palace was “saddened” by the unfortunate incident.

He assured the victims that the government would exhaust all efforts to “alleviate [their] suffering.”

“We were sad to hear of the earthquake and the outcome to the victims of the earthquake. We would like to express our sympathies,” he said.

No tsunami was expected after the intense shaking in the southern country, the Philippine Institute of Volcanology and Seismology (Phivolcs) assured Wednesday.

The Philippines lies along the so-called Pacific Ring of Fire where many of the earthquakes and volcanic activities occur.

Panelo said the Phivolcs was closely monitoring the situation in areas jolted by the powerful quake.

PATIENTS at the Kidapawan Doctors Hospital were rushed out of the hospital building following the 6.3-magnitude quake that hit North Cotabato province on Wednesday night (October 16, 2019). Malacañang on Thursday vowed to extend help to victims of the strong earthquake that killed at least four people and injured 27 others. PHOTO COURTESY OF ROMEO ELUSFA-JOY FM KIDAPAWAN

He also raised the possibility that President Duterte might conduct a situation briefing on the effects of the earthquake with government authorities.

“Palagi naman siyang bumibisita kapag may ganyang mga kalamidad [He always visits areas hit by calamities],” Panelo said.

In the meantime, he advised the public to avoid false information about the earthquake.

“We ask the public to remain calm but vigilant and we urge them to refrain from spreading disinformation that may cause undue alarm, panic, and stress to many people,” Panelo said.

The Phivolcs added the 6.3-mag-

nitude earthquake was centered 22 kilometers southeast of Tulunan in North Cotabato province at a relatively shallow depth of 8 kilometers. More than 200 aftershocks have been recorded.

The US Geological Survey placed the magnitude at 6.4 quake with a depth of 14 kilometers. Shallow quakes tend to cause more damage than deeper ones.

The Office of Civil Defense said at least 27 people were injured in the landslide in Magsaysay or from falling objects and collapsed concrete walls.

Some areas lost power, including the transport hub of Kidapawan

City. A fire broke out in the Gaisano shopping mall in General Santos City shortly after the quake, but there were no reports of people trapped.

Vice Mayor Joselito Piñol of North Cotabato’s M’lang town said patients were evacuated out of a hospital to ensure their safety during the quake.

Several buildings were damaged, including Piñol’s office, where the glass-windowed façade fell.

Schools in quake-hit areas, including the President’s hometown of Davao City, suspended classes on Thursday so buildings can be inspected for damage. Duterte was in the capital, Manila, when the quake struck.

PNA, AP

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US senators defy China’s threat, press ahead with Hong Kong bill

DEMONSTRATORS wave US flags during a rally in support of the Hong Kong Human Rights and Democracy Act, October 14. CHAN LONG HEI/BLOOMBERG

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EPUBLICAN senators said on Wednesday they want to move quickly on legislation to support pro-democracy protesters in Hong Kong despite a threat of retaliation from China.

“Hong Kong is a high priority for me,” said GOP Sen. Jim Risch, chairman of the Foreign Relations Committee. “We’re going to move on it as rapidly as we can.”

Sen. Roy Blunt, a member of the Senate GOP leadership, said there haven’t been any discussions about the timing for a vote on Hong Kong legislation similar to a measure that passed the House Tuesday. That bill would subject the city’s special US trading status to annual reviews and provides for sanctions against officials deemed responsible for undermining its “fundamental freedoms and autonomy.”

Following the House vote, China’s foreign ministry issued a warning of unspecified “strong countermeasures” if the US enacts that legislation and a package of other measures backing a pro-democracy movement that has rocked the former British colony for more than four months.

There is broad backing in both parties in Congress to show support for the protesters and punish China for any crackdown.

The White House declined to comment on whether President Donald J. Trump would sign the Hong Kong legislation, but there are enough votes in the House to override a veto and no significant opposition in the Senate.

The next step will be up to Senate Majority Leader Mitch McConnell who’ll set the schedule for a vote, and he’s being pressed by his Republican colleagues.

“I think we’re going to get it up on the floor here fairly soon,” Florida Republican Sen. Marco Rubio, a China critic, told reporters.

South Dakota Sen. John Thune, another member of Republican leadership, said that while he hasn’t looked closely at the four bills the House passed on Tuesday, there are a number of senators “interested in making a strong statement on Hong Kong.”

Maryland Sen. Ben Cardin, a Democrat on the Foreign Relations Committee, said the main House bill, the Hong Kong Human Rights and Democracy Act, has deep bipartisan support, but there might be some Republicans who object to the bill being passed by unanimous consent without a floor vote.

Cardin said the fact that the House passed their four bills separately, rather than bundling them together, means the Hong Kong Human Rights and Democracy Act has a better chance of getting a vote in the Senate.

Chinese Ministry of Foreign Affairs spokesman Geng Shuang warned American lawmakers to stop meddling in China’s internal affairs “before falling off the edge of the cliff,” without specifying how it would retaliate.

The House action “fully exposes the shocking hypocrisy of some in the US on human rights and democracy and their malicious intention to undermine Hong Kong’s prosperity and stability to contain China’s development,” Geng said.

Both Trump and Chinese counterpart Xi Jinping have so far prevented the international uproar over Hong Kong from scuttling

their trade talks. The two sides went ahead with negotiations and reached some broad agreements last week, even though the House vote was widely expected at the time.

“I don’t think this will undermine the prospect of signing a partial deal next month,” said Wang Huiyao, an adviser to China’s cabinet and founder of the Center for China and Globalization in Beijing. “The Hong Kong bill is not a done deal and there is still room for redemption.”

A spokesman for the Hong Kong government “expressed regret” over the House action, which came hours before Chief Executive Carrie Lam addressed a raucous session of the Legislative Council. She barely managed a few words before pro-democracy lawmakers forced her to stop talking. She ended up delivering her annual policy address via video instead.

While the pro-democracy bloc only comprises about a third of lawmakers, Wednesday’s display showed they have the ability to shut down debate on major economic initiatives. That spells even more trouble ahead for an economy sliding into recession as protests against Beijing’s grip over the city grow increasingly violent.

China’s retaliation threat against the US roiled markets during Asian trading, at one point wiping out a 0.8 percent rally in the regional equity benchmark.

US lawmakers have embraced the Hong Kong protesters’ cause as the yearlong trade war fuels American support for pushing back against China, and they have hosted some of the city’s activists on Capitol Hill in recent weeks. The National Basketball Association’s struggle to manage Chinese backlash against a Houston Rockets executive’s support for the movement has only focused wider attention on the debate. On Tuesday, the House passed House Resolution 543, a resolution reaffirming the relationship between the US and Hong Kong, condemning Chinese interference in the region and voicing support for protesters. Lawmakers also passed the Protect Hong Kong Act, HR 4270, which would halt the export to Hong Kong of crowd-control devices, such as tear gas and rubber bullets.

Representative Chris Smith, a New Jersey Republican and a sponsor of the main Hong Kong bill, dismissed the threats from Beijing.

“Retaliation, that’s all they ever talk,” Smith told Bloomberg TV. “They try to browbeat and cower people, countries, presidents, prime ministers and the like all over in order to get them to back off. We believe that human rights are so elemental, and so in need of protection.

And that’s why the students and the young people are out in the streets in Hong Kong virtually every day.”

The House also adopted a resolution by Foreign Affairs Committee Chairman Eliot Engel of New York and the panel’s top Republican, Michael McCaul of Texas, urging Canada to start US extradition proceedings against Huawei Technologies Co. Executive Meng Wanzhou. The resolution, HR. 521, also calls for the release of two Canadians detained in China and due process for a third sentenced to death for drug smuggling.Bloomberg News

The World BusinessMirror

Editor: Angel R. Calso

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Trump boasts that US would win tariff war with Europe

PRESIDENT Donald J. Trump speaks during a news conference with Italian President Sergio Mattarella in the East Room of the White House on Tuesday, October 16, 2019, in Washington. AP PHOTO/EVAN VUCCI

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ASHINGTON—President Donald J. Trump voiced confidence on Wednesday that the United States could not lose a tariff war with the European Union as the US prepares to impose trade sanctions on up to $7.5 billion worth of EU goods.

The Trump administration plans to impose punitive tariffs starting on Friday following a World Trade Organization ruling that European plane maker Airbus received illegal subsidies.

Trump used a meeting with Italian President Sergio Mattarella to focus on a trade deficit with the EU that stood at $109 billion in 2018.

Trump insisted that the US couldn’t lose a tariff war with the European Union because he says the trade imbalance is so great.

“It’s a very tough situation for us for many years. But now it’s a very tough situation for them because I can remedy the situation very easily. And there really is not any financial counterattack. Hopefully, I don’t have to do that,” Trump said.

Trump also used a news

conference with Mattarella to urge Italy to increase its defense spending. Trump says Italy is spending only 1.1 percent of its gross domestic product on defense, short of a goal set by Nato allies during the Obama administration of spending 2 percent.

Trump said he was pleased, however, that Italy has agreed to purchase 90 “brand-new, beautiful F-35s,” a fighter jet produced by Lockheed Martin.

The leaders spoke at the White House after meetings that were expected to focus on trade, digital taxes and countering Chinese trade practices they consider unfair.

Mattarella said trade tensions were to the benefit of no one and described tariffs as “counterproductive.”

The World Trade Organization has formally given the go-

ahead for the United States to impose trade sanctions. The EU won a similar WTO case accusing the US of illegally subsidizing Boeing, but a ruling allowing possible retaliation is still months off.

Mattarella called on the two sides to meet and try to work out their differences.

“There may be tariffs in six months’ time concerning the subsidies given to Boeing,” Mattarella warned through an interpreter. “This is a mere race between tariffs and mutual tariffs.”

The two also discussed tensions in the Middle East. Mattarella said Italy was “deeply concerned” with Turkey’s offensive in northeastern Syria.

Vice President Mike Pence is set to depart later on Wednesday for Turkey to try to negotiate a cease-fire after Turkey began attacking Kurdish fighters and civilians in Syria.

The two leaders did agree on their support for Italian native Christopher Columbus, though.

Columbus Day was on Monday, but some cities and states instead recognize Indigenous Peoples’ Day over concerns that Columbus helped launch centuries of genocide against indigenous populations in the Americas.

“To me, it will always be called Columbus Day,” Trump said. “Some people don’t like that. I do.” AP

Record-low 0.0000000091 percent yield on yen bond shows BOJ effect

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A PA N’S cor porate debt market has marked a milestone with a record-low 0.0000000091 percent yield.

The landmark bond sale from a Toyota Motor Corp. unit highlights how the Bank of Japan’s ultralow rate policy is distorting the market: not just by guiding rates to new lows but also by creating opportunities for traders to still profit.

It works like this: the BOJ periodically buys corporate bonds rated “BBB” or higher and with a remaining maturity of one to three years on the secondary market, as part of its asset purchases. In the so-called BOJ trade, traders who correctly anticipate which securities it will buy can profit by purchasing those notes

at issuance and later selling them to the central bank at a higher price.

“The BOJ distorts market prices by buying debt at a higher price than what’s sold in the market,” in a side effect of its bond-buying operation, said Toshiyasu Ohashi, chief credit analyst at Daiwa Securities Co. That dynamic appeared to be at play in Toyota’s case.

The automaker’s unit, Toyota Finance Corp., will issue two tranches of ¥20 billion ($184 million) in three-year and five-year bonds each on October 25, it said last week.

T he t hree-year notes w i l l yield an unprecedentedly low 0.0000000091 percent. That means even if you bought ¥1 billion of the bonds and held them to maturity, you

wouldn’t even make ¥1.

Still, demand for the threeyear notes was brisk, according to underwriters. It was stronger than for the five-year bonds because the shorterdated securities would meet the central bank’s maturity requirements, allowing traders to bet that they may be able to sell later to the BOJ at a higher price.

Toyota Finance also has high credit ratings, with an “Aa3” grade from Moody’s Investors Service and an “AA+” score from Rating & Investment Information.

The central bank said last month that it will buy corporate bonds worth about ¥125 billion on October 24 and about ¥100 billion on November 29. Bloomberg News

Deep Thai political feud risks more delay in $105-B budget T HAILAND’S divided parliament began debating t he a nnu a l budget on Thursday amid concern the ruling coalition may struggle to pass the bill because of its slim majority.

The fiscal plan calls for 3.2 tr il lion baht ($105 bil lion) of spending and a budget deficit of 469 billion baht. Outlays usually start on October 1 but were delayed to give the new parliament a chance to scrutinize them. The hold up adds to the obstacles facing a slowing economy.

The three-month-old government of former junta leader Prime Minister Prayuth Chan-Ocha has a slim, two-seat lower-house ma-

jority. An opposition bloc that controls almost half the chamber argues the spending plan is unclear in parts and questions the size of the outlay on defense.

The months-long budget debate involves a series of votes on the fiscal proposals, with the final one due in January.

The fiscal policy outlook will remain unclear until Februar y 2020 at the earliest, Tim Leelahaphan, a Standard Chartered B a n k e conom i s t i n B a n g k ok , wrote in a note.

Punchada Sirivunnabood, an expert on Thai politics and a Fulbright scholar at Northern Illinois University, expects the adminis-

tration to get the votes needed to pass the budget bill.

The consequences of the less likely outcome of the vote failing could be significant, she said.

“If the budget isn’t approved, Prayuth may have to quit or dissolve the parliament, but the latter is unlikely because it would require a new election,” Punchada said.

Prayuth returned as premier after March’s general election at the helm of a pro-military coalition comprising over a dozen parties.

The disputed poll was the first since a coup in 2014 that Prayuth led. Opponents see the current administration as a continuation of military rule. Bloomberg News

Oil drops as industry report shows spike in US stockpiles

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IL fell after an industry report showed a sharp jump in US inventories, adding to concern that supply keeps growing as demand ebbs.

Futures in New York dropped as much as 1.1 percent after closing up 1 percent on Wednesday. The American Petroleum Institute reported crude inventories rose by 10.5 million barrels last week, according to people familiar with the data. That would be the biggest increase since February 2017 if confirmed by the official Energy Information Administration figures due on Thursday.

The Organization of the Petroleum Exporting Countries faces a “serious challenge” to defend oil prices next year as fuel-demand

growth could slow further amid a wave of new supply from the US, Brazil and the North Sea, the International Energy Agency warned on Wednesday. Progress toward a limited US-China trade deal, while positive, isn’t likely to have a major impact on global economic growth unless existing tariffs are rolled back.

The best-case scenario on USChina trade would be a truce and no further tariff increases, Daniel Hynes and Soni Kumari, commodity strategists at ANZ Banking Group Ltd., said in a note. There’s also still a high chance of more supply disruptions in the Middle East, they said.

West Texas Intermediate for November delivery dropped 55 cents,

or 1 percent, to $52.81 a barrel on the New York Mercantile Exchange as of 7:24 a.m. in London. The contract added 55 cents on Wednesday, its first gain in three days.

Brent crude for December settlement fell 54 percents, or 0.9 percent, to $58.88 on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a premium of $5.94 to WTI for the same month.

If the EIA data also shows an increase in US stockpiles that would be the fifth straight weekly gain, the longest run since February.

American inventories probably rose by 3 million barrels last week, according to the median estimate in a Bloomberg survey. Bloomberg News

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The World BusinessMirror

Friday, October 18, 2019

Opposition protests suspend Hong Kong assembly session

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ONG KONG—Hong Kong Leader Carrie Lam was again forced from the legislative chamber because of protests on Thursday by opposition members following a bloody attack on a leader of the nearly five-month-old protest movement.

P ro - democ rac y l aw m a kers shouted and waved placards depicting Lam with bloodied hands, prompting their removal by guards and the suspension of proceedings.

A day earlier, Lam was forced to abandon an annual policy address in the chamber, later delivering it by television.

Disruption in the chamber and the attack on Wednesday night on Jimmy Sham by assailants wielding hammers and knives marked the latest dramatic turn in the unrest that has rocked the city since June.

Protesters and police have both deployed levels of violence unseen since the former British colony reverted to Chinese rule in 1997.

Prior to her departure, Lam reiterated that her “first priority” was ending the violence that has dealt a body blow to the local economy, as well as Hong Kong’s reputation as a safe, law-abiding center for finance and business with a sophisticated independent judiciary.

L a m sa id she was work ing w it h t he c it y ’s 180,0 0 0 pub l ic ser va nts a nd t ra nspor t aut hor it ies to restore order,

SECURITY officers pursue pro-democracy lawmaker Au Nok-hin (center), as he leaps across desks to chase Hong Kong Chief Executive Carrie Lam as Lam leaves a question and answer session with lawmakers at the Legislative Council in Hong Kong on Thursday. AP/MARK SCHIEFELBEIN

a lt hough t hat t ask was made harder by members of the pub l ic sy mpat het ic to t he cause of the “r ioters,” as she ter med the ha rd- core protesters.

However, she was forced to withdraw amid calls for her resignation, with pro-democratic legislator Claudia Mo shouting, “Carrie Lam, you are a liar.”

The protests began in response to a now-withdrawn extradition bill that would have allowed criminal suspects to be sent for trial in Communist Party-controlled courts in mainland China.

The movement then ballooned to encompass broader clamors for universal suffrage, an independent inquiry of the policing methods used against protesters and other demands, including ending the description of protesters as rioters.

Sham has been one of the public faces of the protest movement as a leader of the Civil Hu m a n R ig ht s Front , wh ic h has organized large demonstrations. He was on his way to an evening meeting in the district of Kowloon when four or five attackers pounced on him, leaving him with bloody head injuries but conscious, the Front said on its Facebook page.

It suggested the assault was politically motivated, linked “to

a spreading political terror in order to threaten and inhibit the legitimate exercise of natural and legal rights.”

Mo and other opposition legislators on Thursday suggested the attack on Sham may have been designed to frighten others away from protesting, or even to help provide a pretext for the government to call off district council elections scheduled for next month.

“We can’t help but feel that this entire thing is part of a plan to shed blood on Hong Kong’s peaceful protests,” Mo was quoted as saying for government broadcaster RTHK. “If you think you’re being peaceful and you’re safe, you’re not.”

Sham spent the night in hospital and his wounds to the head and arm were not considered life threatening, according to the station.

The assailants escaped in a vehicle and their identities remained unknown, although organized crime elements have long been accused of engineering attacks on protesters and leaders of the pro-democracy camp.

Police last month arrested two people, including a 15-year-old boy, over an assault on Sham and his assistant while they were dining in a café. Sham was not injured in that attack. AP

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High anxiety in Brussels: Will Brexit deal be clinched?

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RUSSELS—British Prime Minister Boris Johnson and his 27 counterparts from across the European Union were converging on Brussels, on Thursday for a summit they hope will finally lay to rest the acrimony and frustration of a three-year divorce fight.

Yet, even before dawn, Johnson already had to deal with a serious setback when his Northern Irish government allies said they would not back his compromise proposals.

The prime minister needs all the support he can get to push any deal past a deeply divided parliament.

It only added to the high anxiety that reigned on Thursday morning, with the last outstanding issues of the divorce papers still unclear.

Technical negotiators again went into the night Wednesday to fine tune customs and sales tax regulations that will have to regulate trade in goods between the Northern Ireland and Ireland—where the United Kingdom and the EU share their only land border.

And they were set to continue right up to the summit’s mid-afternoon opening. If a deal is agreed on during the two-day summit, Johnson hopes to present it to Britain’s Parliament at a special sitting on Saturday.

After months of gloom over the stalled Brexit process, European leaders have sounded upbeat this week. French President Emmanuel Macron said on Wednesday that “I want to believe that a deal is being finalized,” while German Chancellor Angela Merkel said negotiations were “in the final stretch.”

Johnson—who took office in July vowing Britain would finally leave the EU on October 31, come what may—was slightly more cautious. He likened Brexit to climbing Mount Everest, saying the summit was in sight, though still shrouded in cloud.

Northern Ireland’s Democratic Unionist Party added to those clouds early Thursday.

DUP leader Arlene Foster and the party’s parliamentary chief Nigel Dodds said they “could not support what is being suggested on customs and consent issues,” referring to a say the Northern Irish authorities might have in future developments.

Both the customs and consent arrangements are key to guaranteeing an open border between the UK’s Northern Ireland and EU member Ireland—they main obstacle to a Brexit deal.

Foster and Dodds said they would continue to work with the UK government to get a “sensible” deal. The problem is that the closer Johnson aligns himself with the DUP, the further he removes himself from the EU, leaving him walking a political tightrope.

Brexit negotiations have been here before—seemingly closing in on a deal that is dashed at the last moment. But hopes have risen that this time may be different.

Though with Britain’s October 31 departure date looming and just hours to go before the EU summit, focus was on getting a broad political commitment, with the full legal details to be hammered out later. That could mean another EU summit on Brexit before the end of the month.

So far, all plans to keep an open and nearinvisible border between the two have hit a brick wall of opposition from the DUP. AP

Singapore offers spectrum, targets stand-alone 5G by 2022

S

INGAPORE said it wants all four of its carriers to introduce 5G ser vices, with half the city-state covered by a stand-alone network by 2022 to maintain competitiveness in developing technolog y.

The telecom regulator said on Thursday it will select two network operators to deploy the 3.5GHz spectrum band on a stand-alone basis, while the two others will get bandwidth for upgrading existing 4G infrastructure to 5G. The Infocomm Media Development Authority, which had previously said it would target at least two carriers for 5G, set a minimum base price of S$55 million ($40 million) for each bandwidth allotment for stand-alone networks, according to its statement on Thursday.

The regulator expects to start

awarding the spectrum by the middle of next year.

The 5G network is necessary to “secure Singapore’s competitive edge,” S. Iswaran, communications minister, said in a statement. He told reporters that pricing for the bandwidth is in the “mid-range” of those in overseas markets.

The spectrum allocations will allow Singaporean carriers to offer 5G services by 2020, while some other countries in the region including China and South Korea are already offering some commercia l 5G connect iv it y.

Stand-alone networks are seen as crucial for developing and deploying applications from autonomous driving to remote surgery and factory automation.

Costs to build such networks may erode profit at carriers in-

cluding Singapore Telecommunications Ltd. and StarHub Ltd., which had asked the government to make bandw idth available cheaply or free.

Singtel, as the company is known, said Thursday it was reviewing the IMDA’s call for proposals. Shares in Southeast Asia’s biggest telecom company by market value fell 0.6 percent as of 1:42 p.m. in Singapore trading.

The spectrum licenses to be awarded next year would run for as long as 16 years, according to the regulator’s presentation on Thursday.

Singapore is already facilitating trials for its use in drones, autonomous vessels, remote operations of ports and manufacturing sector, to support the use of the 5G technology. Bloomberg News

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CL joins 500-day countdown to quincentennial celebration

By Ashley Manabat Correspondent

C

ITY OF SAN FERNANDO—Central Luzon (CL) will join the rest of the country for the countdown to the 500th anniversary of the first circumnavigation of the Earth and the introduction of Christianity to the Philippines.

Central Luzon landmarks will be lighted on December 14 for the 500-day countdown to the quincentennial celebration in 2021.

It will also be the 500th anniversary of the victory in the Battle of Mactan on April 27, 1521, where native chieftain Lapu-Lapu vanquished the Spanish forces commanded by Ferdinand Magellan who was killed in the battle.

Among those joining the commemoration will be a total of 21 sites nationwide, including the Dambana ng Kagitingan in Pilar, Bataan; Barasoain Church in Malolos City and Jose Abad Santos monument in the City of San Fernando, Pampanga, in the region.

The Lapu-Lapu Shrine in Cebu will be the main site of the countdown.

There will be similar programs at the National Museum of Natural History in Manila and Commemorative

Monument of Peace and Unity in Davao.

Tourism Undersecretary Arturo Boncato Jr. made the announcement during Tuesday’s Luzon Stakeholders’ Meeting held at the Heroes Hall here.

“The 21 sites represent various periods in our history from the time of Lapu-Lapu to Spanish colonization, American occupation and Second World War,” Boncato said.

The National Quincentennial Committee identified the Battle of Mactan as the primary event of the celebration that is slated on April 27, 2021.

Other events lined up include a one-year countdown on April 27, 2020, and a 100-day countdown in January 2021.

“We are holding a National Songwriting Competition and we shall open in 2021 the Museum of Philippine Early History in Butuan City,” Boncato said.

“Precolonial history will, likewise, be the theme of the Philippine pavilion at the 2020 Dubai Expo,” he added.

It was learned that the country will also be hosting the Seventh International Conference of the International Council on Historical and Cultural Cooperation-Southeast Asia and the International Conference on the Philippine Part of the First Circumnavigation of the World.

Friday, October 18, 2019 A9

Duterte bans casino at new Nayong Pilipino park in P’que

By Ma. Stella F. Arnaldo

D

@akosistellaBM Special to the BusinessMirror

EFINITELY, no casinos will be rising at Nayong Pilipino Foundation’s (NPF) planned national cultural park within the Pagcor Entertainment City.

This was the directive of President Duterte during a Cabinet meeting on October 11, even as he approved the “hybrid” privatization and development of the proposed park at NPF’s 15-hectare property along New Seaside Drive in Parañaque City.

In an interview with the BusinessMirror, Tourism Secretary Bernadette Romulo Puyat said, “The park will celebrate Filipino identity and culture, and be a creative hub that encourages the old roots of heritage to birth new works of art and contribute to the growth of cultural tourism.”

She added, “President Duterte af��� firmed [during the Cabinet meeting] that there should be no casinos in the development of the NPF property because that would be inconsistent with the purpose and intent of the park.”

Romulo Puyat and NPF Executive Director Lucille Karen Malilong-Is-

berto presented the proposed cultural park project to the Cabinet. Of the total NPF property, the park will occupy 9.5 hectares and will have “gardens showcasing Philippine biodiversity, playgrounds, indoor and outdoor performance areas, galleries and exhibit halls for showcasing Philippine culture and history, an interactive museum of the future where visitors, especially children can imagine and create the Philippines they want,” explained Malilong-Isberto.

On the suggestion of Finance Secretary Carlos G. Dominguez III, Duterte approved the funding of the NPF cultural park by the Tourism Infrastructure and Enterprise Zone Authority, with the Bases Conversion and Development Authority as the project manager for the procurement and construction. “But the operation and management of the park, once

constructed, will be offered to the private sector,” said Romulo Puyat.

Tieza, formerly the Philippine Tourism Authority, is the infrastructure arm of the Department of Tourism. The DOT chief said Tieza will be allotting “an initial P2 billion” to develop the park.

Dominguez has been encouraging the hybrid privatization of many government projects or properties, instead of selling these assets outright to the public. For her part, Malilong-Isberto said the NPF Board is targeting the completion of the project “during [President Duterte’s] term.”

She added the public will be invited to suggest ideas for the design of the park. “NPF wants the process for designing to be as participatory as possible and is working out methodology to do this to include ideas from the public in the master plan.”

Malilong-Isberto explained that in soliciting ideas from the public, “as a creative hub, we want the park to be a place where artists and cultural workers have space to create and collaborate.” The master plan will be bidded out, the NPF official added, “after the board approves the conceptual design.”

She said this will be held in coordination with the Tieza.

The park project had been approved by the National Economic and Development Authority (Neda) Board chaired

by Duterte in November 2016 as a public-private partnership project at

a cost of P1.4 billion.

Government sources intimated that even the artist’s rendering for the NPF’s cultural park submitted to the Neda board then, there was no space allocated for any casino. The casino had been included only by the new set of board directors appointed

by Duterte.

Duterte eventually sacked that set of NPF officials in August 2018, after he found out the 70-year lease of the foundation’s property to Landing International, a Hong Kong-based gaming firm, was “grossly disadvantageous” to the government.

Meanwhile, the Nayong Pilipino Park in Clark, Pampanga, is currently being ��������������������������������� rehabilita����������������������� ted by the Clark Development Corp. and is slated to open on November 25, in time for the Southeast Asian Games, according to the DOT. The features of this park include the miniature renditions of tourist sites that used to be located in the old Nayong Pilipino theme park, adjacent to the now-shuttered Philippine Village Hotel, near the Ninoy Aquino International Airport. Constructed under the Marcos regime, the old Nayong Pilipino theme park used to be a favorite destination during school field trips in the 1970s. It was said to be inspired by Jakarta’s Taman Mini Indonesia Indah after First Lady Siti Hartinah Suharto took then-First Lady Imelda Marcos on a tour of the park.

A10 Friday, October 18, 2019 • Editor: Angel R. Calso

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editorial

Why do people commit suicide?

A

BLOOMBERG report on Thursday (October 17) quoted an American government report saying that suicides surpassed homicides for US teens and young adults in 2010, and the gap continues to grow. “In 2017, suicide was the second leading cause of death, behind accidents, for all young age groups—10-14, 15-19, and 20-24—reaching a record high in 2017,” according to the Center for Disease Control. From 2007 to 2017, the suicide rate among people between 10 and 24 in the US increased by 56 percent.

The World Health Organization said suicide is a global phenomenon. Close to 800,000 people take their own life every year, which is one suicide every 40 seconds.

Reviewing the WHO Global Health Observatory data repository, the Philippines had the following age-standardized suicide rates per population of 100,000. (“Age-standardized” means the suicide data from different countries undergo a technique to allow populations to be compared when their age profiles are quite different.) WHO data showed that from 2000 to 2016, the suicide rate among Filipino males rose from 4.5 to 5.2. During the same period, the suicide rate among Filipino females increased from 1.8 to 2.3. There is no data available from 2017 onwards, but the number of recent suicides in the news point to an increasing suicide rate in both males and females, with the suicide rate among Filipino males consistently higher.

There is increasing evidence that the Internet and social media can influence suicide-related behavior. In January, the children’s commissioner for England has accused social-media companies of losing control of the content carried on their platforms, telling them that recent teen suicides should be a “moment of reflection” for the way they operate. In an open letter to Facebook, Instagram, WhatsApp, YouTube, Pinterest and Snapchat, Anne Longfield said the suicide of 14-year-old Molly Russell has highlighted the “horrific” material that children were able to easily access online.

In May, a 16-year-old girl has reportedly killed herself in Malaysia, after posting a poll on her Instagram account asking followers if she should die or not, and 69 percent of responders voted that she should. Her death prompted a lawyer to suggest that those who voted for her to die could be guilty of abetting suicide.

The case in Malaysia raised serious questions about the impact of online bullying, and whether technology companies are doing enough to protect vulnerable users. This prompted suicide prevention organizations to mount a campaign on what should you do if you see someone posting about taking his/ her life. If you think someone you know is in immediate danger, you should call the emergency services for help. “A lot of social-media platforms will reach out to users if they post things that suggest they could be in danger,” says Dr. Lucy Biddle, a medical sociology lecturer at the University of Bristol who has researched suicide-related Internet use. She recommends reporting posts you’re concerned about so the platform can contact the poster and let them know where they can go for help.

Instagram said: “We have a deep responsibility to make sure people using Instagram feel safe and supported. As part of our own efforts, we urge everyone to use our reporting tools and to contact emergency services if they see any behavior that puts people’s safety at risk.” On the app, you can tap the three-dot icon and then select “report.”

In a paper published in Journal of the American Medical Association, Harvard University’s Oren Miron, a bioinformatics specialist, noted that increases in social-media use, anxiety, depression and self-inflicted injuries may be contributing to the increase in youth suicides. Sadly, there are no effective prevention strategies. Parents, relatives and friends, however, can help. This also highlights the need for a comprehensive multisectoral suicide prevention strategy.

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BETTER DAYS

M

ANY young Filipinos have their minds set on finding their future outside the Philippines, according to the recent World Economic Forum (WEF) Asean Youth Survey. The data is disheartening: 52.9 percent of the Filipino youth aged 15 to 35—the so-called millennial and Gen Z— prefer to work overseas than here at home.

This aspiration is closely shared in the Southeast Asian region by Thailand, where the tally stands at 51.9 percent. Meanwhile, Singapore, Indonesia and Vietnam are in the opposite, with the majority of their younger generations preferring to stay and work in their own country.

The WEF survey talks about how a higher salary remains a big factor enticing our youth to opportunities abroad. Combine that with the persistent inability of our own job markets to absorb our graduates—a fact borne out by the January 2019 Labor Force Survey, which showed that nearly 21 percent of the country’s unemployed had college degrees.

What we end up with are the “pull” and “push” factors to the brain drain that debilitates our country.

Indeed, this is not a new story.

But the WEF survey brings up some interesting ideas on why our youth seek to work abroad. It appears that they accept and welcome the idea of constant learning and reskilling throughout their lives— or, in short, lifelong learning. Up to 43.7 percent of Filipino respondents said they believe they must upgrade their skills constantly, while 17.3 percent said that their current education and skills will last for another five years before they need to retrain.

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There appears to be a disconnect between what younger generations of Filipinos look for and the indemand and hard-to-fill jobs present in the country. Clearly, that gap must be bridged if we are to stop at all the exodus of our best and brightest. How then do we bring the jobs to our shores that our youth are looking for? In other words, how do we keep them home? We’ll discuss some ideas in a future column.

Apparently, many of our youth look for job opportunities where they can add more to their existing skill sets and receive more training.

In fact, the most common reason for changing jobs—cited by up to 19 percent of respondents across the region—was “for better opportunities to learn and develop.” A higher salary and income was a close second.

The survey then cites the ideas of Harvard University Professor Dr. Ricardo Hausmann on how economic development is dependent on the “know-how”—or practical skills as differentiated from theoretical knowledge—of a country’s work force.

According to Hausmann, the know-how present in an economy

Public transportation crisis

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Keeping them home

SERVANT LEADER

B

ROTHERS and sisters, are you one of those who experience the calvary of public transportation everyday?

Surely it is a predicament for a commuter to line up exhaustingly just to get a ride at the Metro Rail Transit, Light Rail Transit, UV Express or jeeps. Bus and train passengers have lost their sense of personal space because of overcrowding. Along Edsa, you can see irritated people waiting for their ride, people who seem to be unshaken by the heat and thick smoke from passing vehicles. After waiting for a long time and competing with other passengers to get a ride, commuters bear the slow and heavy flow of traffic. According to a study, it commonly takes Filipinos an hour and six minutes to squeeze through the roads because of the traffic.

Such a scenario got worse after the suspension of the regular operations of the Manila Light Rail Transit System Line 2 or LRT 2 because its two power rectifiers got burned almost two weeks ago, affecting almost 200,000 passengers.

Although this is not how it is supposed to be, this is the current reality of everyday commuting in Metro

Manila. Many commuters ask if it is righteous for Filipinos to endure this kind of situation. The people were even more angered after Malacañang Spokesman Salvador Panelo insisted that there is no transportation crisis because “people are still able to catch a ride and eventually get to their destinations.”

Panelo does not bear a sociological

imagination because he doesn’t understand the everyday struggles that thousands of commuters experience every day. People with this kind of imagination understand the greater context rooted on personal issues, such as the suffering of commuters because of poor public transportation.

Therefore, it is not acceptable to suggest that commuters should wake up early to be able to get to their destinations on time because this deviates from the issue of government neglect.

It is the State’s responsibility to provide an efficient mass transportation system for the people.

As things stand, the loss of time that should be spent with family, or rest and relaxation is tantamount to a personal and private crisis. There’s no justice served, for example, when a student has to wake up at 4 a.m. but is still arrive late in school. If we broaden our imagination, this is directly related to the country’s lack of efficient public transportation, which is a social issue. This is why many were dismayed by Penalo’s statement because it reflects the government’s lack of compassion for the suffering commuters.

From the Catholic Social teaching, one of the State’s responsibilities include the achievement of the

can be acquired and improved in a number of ways—through foreign companies investing in a country and engaging in technology transfer; through foreign workers moving to a country and bringing with them their skills and competencies; or through domestic workers spending time overseas and learning new skills.

Could it be that our youth yearn to work abroad because they want to learn more—and not just earn more?

How does that affect current efforts to keep our youth from leaving?

The WEF survey further found that Asean youth on average wish to be involved more in the tech sector.

They tend not to prefer jobs in small and medium enterprises, as they are looking to be entrepreneurs—i.e. their own employers. They also have no interest to be part of traditional industries like manufacturing, or construction. Finally, they put a high value on skills, such as creativity, innovation, language proficiency, and the ability to use modern technology.

Conversely, they do not value data analytics, mathematics, and other so-called STEM skills.

Assuming these job and skill preferences are true for the Filipino youth, they stand in sharp contrast See “Angara,” A11

common good because this is the reason why the government has all the power in the first place. An individual would not be able to attain one’s development alone, wherein the role of the State takes place to ensuring an efficient use of the social services the public desperately needs. Which is why the insensitive statement of the President’s spokesman got criticized because, like what is said in the book of Proverbs, “When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.”

Brothers and sisters, even if the repairs being done on the LRT 2 get finished in nine months, as long as our leaders don’t make a comprehensive solution, and those who manage the transportation sector don’t take the necessary action, the problem caused by the inefficient public transportation system will remain for a long time to torture more Filipino commuters.

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

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‘I have faithfully served the people’

If the Americas have ‘Columbusing,’ then we can have ‘Magellaning’ Tito Genova Valiente

ANNOTATIONS

Manny F. Dooc

TELLTALES

T

ODAY marks the end of the Bersamin Court, which reigned over our judiciary from November 28, 2018, up to October 18, 2019. Chief Justice Lucas Bersamin turns 70 years old today, which is the mandatory retirement age of justices of the Supreme Court. PRRD appointed him as the country’s 25th Chief Justice last year. He leaves the Court eight days ahead of Senior Associate Justice Antonio T. Carpio who is retiring on October 26, 2019.

The top 2 ranking members of the SC will vacate their posts in the midst of a high-stakes election protest pending before the SC. Until last Tuesday, SC watchers thought that a verdict on the Marcos v Robredo case would be the valedictory decision of CJ Bersamin since it would be his last en banc session. Comments coming from Justice Marvic Leonen and the CJ himself early this week had lifted public expectation of the forthcoming decision. Bersamin’s assurance that there would be no rigging of votes on the case gave the impression that he would leave a personal stamp on the final verdict to be issued.

Hence, almost everyone had placed their bets that October 15 would be the D-Day, but instead of resolving the case, the SC deferred ruling on whether to dismiss or proceed with former Sen. Bongbong Marcos’s protest. Now, both Bersamin and Carpio will no longer be around when the Court deliberates on the case again after both parties have submitted their comments as required by the SC. It will be a missed opportunity for both distinguished jurists to provide their cogent opinion on a significant case that undoubtedly will have great impact on our political life. As acknowledged intellectual leaders of the Court, their views will carry great weight within the collegial body, whichever side they take up.

Bersamin has all the makings of a successful jurist. He won the coveted Chief Justice Jose Abad Santos Outstanding RTC Judge in 2002, conferred by the prestigious Foundation for Judicial Excellence.

In 2000, then-RTC Judge Bersamin was awarded the distinct honor of having written the Best Decision in Civil Law and the Best Decision in Criminal Law among all RTC judges in the country. Justice Ricardo Puno, the chairman of the CJ Fred Ruiz Castro Memorial Awards Committee, said that winning both awards in the same year and selected by different panels of judges was an unprecedented feat. Another remarkable achievement of Bersamin was his apparent success in improving collegiality in the SC after the divisive term of CJ Maria Lourdes Sereno.

While honest differences in opinion still exist, particularly in deciding a case, it’s no longer marked by acrimony and rancor. He was truly a healing Chief Justice.

Bersamin’s term in the SC saw the turbulent years in the SC. Renato Corona was impeached and convicted by Congress and Sereno

Angara. . .

continued from A10

to the in-demand and hard-to-fill occupations listed in the JobsFit 2022 report of the Department of Labor and Employment.

Consider that the five top in-demand jobs for 2017 to 2022 are the following: administrative clerks, appraisers, automotive brake system service technician, automotive painter and baker. For those that are hard-to-fill, the following are on top: 2D echocardiography technician, account executive, accounting manager, animal husbandry professional and asphalt roofer.

There appears to be a disconnect

Friday, October 18, 2019 A11

Bersamin has all the makings of a successful jurist. He won the coveted Chief Justice Jose Abad Santos Outstanding RTC Judge in 2002, conferred by the prestigious Foundation for Judicial Excellence.

In 2000, then-RTC Judge Bersamin was awarded the distinct honor of having written the Best Decision in Civil Law and the Best Decision in Criminal Law among all RTC judges in the country, an unprecedented feat. was ousted via a quo warranto petition alleging that her appointment was void from the beginning due to her failure to comply with the requirements of the JBC. Bersamin joined the majority members of the Court in granting the quo warranto petition against Sereno. Only Justices Carpio, Leonen, Estela Perlas-Bernabe and Alfredo Benjamin Caguioa dissented. Justice Teresita de Castro, who succeeded Sereno, served as the Chief Magistrate for only 43 days, the shortest tenured Chief Justice. These developments paved the way for Bersamin’s ascendancy to the top helm of our judiciary.

Among his decisions while serving as a member of our SC was the humanitarian consideration accorded to plunder defendant Sen. Juan Ponce Enrile because of his advanced age. He also acquitted former President Gloria Macapagal-Arroyo in the alleged PCSO scam, which ruling is now being invoked by other plunder defendants to their advantage. He also concurred in the majority decision of the SC allowing the burial of the remains of former President Ferdinand Marcos at the Libingan ng mga Bayani. But a jurist should not be judged solely on the basis of how he voted on a particular issue, unless we exactly know the motives and the basis of his decision. On his retirement as Chief Justice of the US SC, Earl Warren said that the Court serves only the public interest and guided solely by the Constitution and the conscience of the individual justice. Bersamin has bid his colleagues goodbye by saying: “I have faithfully served the people, conscientiously discharged my office and dutifully fulfilled their trust” and he admonished them to “be constant in your loyalty to the judiciary...and be steadfast in fealty to the letter and spirit of the Constitution...” Well said, Bersamin, and future Courts will do us a big favor if they take to their hearts your great words. between what younger generations of Filipinos look for and the in-demand and hard-to-fill jobs present in the country. Clearly, that gap must be bridged if we are to stop at all the exodus of our best and brightest.

How then do we bring the jobs to our shores that our youth are looking for? In other words, how do we keep them home? We’ll discuss some ideas in a future column.

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

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

T

HERE is a new specter of a word online: “Columbusing.”

In an online site called Urban Dictionary, columbusing is defined as “the art of discovering something that is not new.” It can also mean “taking credit for something that one never achieved.”

Brenda Salinas calls it the act of discovering something that has existed forever. The word can imply power, the abuse of it.

The ultimate usage of the term appears in this manner: “In 1482, Columbus was columbusing the ‘new world.’”

In another Internet site called “Wake Up World,” an article is going viral about the man after whom this new act and claim called “columbusing” has been named—Christopher Columbus. The essay is titled “Celebrating Genocide—Christopher Columbus’ Invasion of America.”

Columbus, of course, is the Italian navigator who sailed under the patronage of Portugal, first, and then Spain later.

The essay is written by Irwin Ozborne and opens with a quote from Eduardo Galeano, an Uruguayan writer, who wrote: “In 1492, the natives discovered they were Indians, discovered they lived in America, discovered they were naked, discovered that the sin existed, discovered they owed allegiance to a King and Kingdom from another world and a God from another sky, and that this God had invented the guilty and the dress, and had sent to be burnt alive who worships the Sun, the Moon, the Earth and the Rain that wets it.”

Galeano once called (Latin) America as an “intimate land condemned to amnesia” and could well be describing the Philippines after the occupation of the Spaniards.

Colonization, let it be said, can never be good news. If ever we do defend the colonizers, it is always a harking back to the arrival of the civilization. But the Americas that were “conquered” by Columbus and his men had “civilization,” although in forms that the Europeans could not apprehend.

Columbus was not good news.

Ozborne wrote of how “the Spanish Conquest of the Americas, preceded by its ‘discovery’ by Christopher Columbus [or Cristóbal Colón as he was known by the Spanish Crown] resulted in mass assimilation, raping, slaughtering, enslaving and intention to wipe out all evidence of a native population of between 50 and 100 million indigenous people from the land—the greatest genocide in recorded history.”

Quoting James W. Loewen, American sociologist and historian, Ozborne appears to emphasize one thing and that is the contribution of Columbus: “Christopher Columbus introduced two phenomena that revolutionized race relations and transformed the modern world: The taking of land, wealth and labor from indigenous peoples, leading to their extermination and the transatlantic slave trade, which created a racial underclass.”

Loewen’s book carries the title, Lies My Teacher Told Me. In Maine, US, the Columbus Day was replaced by “Indigenous People’s Day.” Our country also has Indigenous People’s Day. We spend it in one month, paying tribute to those we consider indigenous as we, the lowland Christian, forget our indigeneity.

As early as December 2018, a National Quincentennial Committee has announced plans to celebrate the 500th anniversary of Ferdinand Magellan.

There will be a conference on the voyage of Magellan, described as

an achievement of humanity. From whose perspective is the success of Magellan’s epic adventure is not clear. Suffice it to say that it will be difficult to counter this celebration because the coming of the Spanish colonizers meant also the arrival of a new faith. This is the trick of civilization: To fuse conquest with conversion, to kill the old gods or, at most, show the “natives” that their gods are no good compared to the Almighty whose churches were more monumental, whose rituals were as mysterious and more well-funded with gold, and silver and precious stones.

When Renato Rosaldo, the anthropologist was about to embark on his fieldwork, he selected the Philippines. It is told that his adviser warned him that our country did not have “culture.” We did not have magnificent temples and tremendous architectures for the divine. Rosaldo persisted and left the Philippines with the awe-inspiring ethnography of the head-hunting Ilonggot of the North.

When I was still teaching introduction to sociology and anthropology in Ateneo de Manila University, the article of Rosaldo was always an engaging reading for my students.

The American anthropologist was able to make sense of terrifying and, on the surface, irrational act of beheading individuals for power and release of grief.

In his essay, Ozborne, enumerates the well-documented atrocities brought about by Columbus and his men. These atrocities include: Forced hard labor; abducting and selling children into the sex trade as young as nine years old; mass raping of women and children; and the amputation of limbs if slaves were not

producing “enough.” Ozborne wrote how the “natives” were labeled as hostile savages, buried alive or burnt alive if they were resisting the demands of the conquerors, if not in complete compliance with their oppressors.

We, in our remembering of our colonization, would like to think we were treated differently. But think of these: The first years of the conquest saw our syllabaries destroyed and the gods and tutelary divinities of villages banished; the succeeding years saw our notion of ownership altered, with us living on the land for years before the coming of the conquistadores and losing those lands to them; and in the latter years of the conquest, a governor-general provided us a with a book of Names, demanded that we erase our old true names, and forced us to choose from his finite list.

The image of the conquistador had been imprinted in our mind that we think like them, even up to now. Heritage for us would be churches and architectures, with arches and curves from Europe.

We are condemned to forget our own “structures”—the magical rivers and bodies of water, the mountains and the plants and trees that grow on them, the forests primeval—these are our heritage. Then there are the languages. They are our homes. These are the places of worship and ceremonials that we should protect and not the lies of the imported civilization.

As for “Magellaning,” I call it the art of claiming something that does not belong to you. It is also called “stealing.” Celebrate it then. Celebrate the lies, celebrate the robbery.

E-mail: titovaliente@yahoo.com

Taiwan can help the global fight against transnational crime MAIL

THE 88th International Criminal Police Organization (Interpol) GeneralAssembly is held in Santiago, Chile, from October 15 to 18, 2019.

Interpol is the world’s largest international police organization, enabling police around the world to work together to make the world a safer place. Regrettably, Taiwan is not invited to attend the 88th General Assembly and has been barred from accessing key intelligence information instantly shared through the I-24/7, a global police communications system and stolen and lost travel documents database.

Taiwanese police could not

connect to the I-24/7 system to provide timely criminal information to other countries, creating a gap in the global law enforcement network, hampering efforts to capture members of the transnational crime syndicate and causing financial losses to people in numerous countries.

Article 2 of Interpol’s Constitution states the organization’s aim is “to ensure and promote the widest possible mutual assistance between all criminal police authorities…,” As transnational organized crime presents a serious threat and daunting challenge to almost every country, the cooperation of police agencies from all over the world is needed, and Taiwan’s participation is essential to the realization of this objective.

Taiwan serves as a key hub connecting Northeast and Southeast Asia, and there are nearly 68.9 million travelers recorded to have been entering, leaving or transiting through Taiwan in 2018. In the 2018 Global Peace Index published by Australia’s Institute for Economics and Peace, Taiwan was ranked 34th out of 163 countries worldwide with regard

to safety and was listed 31st worldwide in terms of reliability of police services in the Global Competitiveness Report 2018.

However, Taiwan’s efforts in fighting cross-border crime are seriously hampered due to its exclusion from the Interpol. Although Taiwan seeks to acquire updated criminal information through bilateral channels, countries are often reluctant to cooperate because of political factors.

In 2017, Taiwan’s police agency made 130 requests to other countries seeking information or assistance in investigations, but received responses in only 46 cases. In a report released

by Taiwan’s Criminal Investigation Bureau in October 2019, it cited an instance of its cooperation with Filipino authorities wherein a suspect, involved in the murder of a Canadian national in New Taipei City, was apprehended in the Philippines. Unable to access the I-24/7 system and other Interpol databases, Taiwanese police were prevented from gaining timely access to information on the suspect, which made the investigation more challenging.

Maintaining global security and social justice must take precedence over regional, ethnic and political differences. Taiwan spares no effort in fighting cross-border crime, which not only serves as a strong commitment that Taiwan is willing and ready to work with all the related agencies in the world, but also manifests the importance of Taiwan’s participation in Interpol.

Taiwan is willing and able to make the world safer. I hereby call on the Philippine government and its people to voice your endorsement of Taiwan’s participation in the annual Interpol General Assembly as an observer, as well as meetings, mechanisms and training activities organized by Interpol and the United Nations Office on Drugs and Crime. Only by doing so will the gap and breach in the global security network be filled and a safer world be created.

Peiyung Hsu Representative Taipei Economic and Cultural Office in the Philippines

A12 Friday, October 18, 2019

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Households bore 58.6% of health costs in 2018

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By Cai U. Ordinario

@caiordinario

EALTH expenditures made by households were nearly twice as large as the government’s spending, according to the Philippine Statistics Authority (PSA).

Based on data from the 2018 Philippine National Health Accounts (PNHA), total out-of-pocket (OOP) expenses grew 10.5 percent to P449.171 billion in 2018, said the PSA. This accounted for 58.6 percent of the P766.86 billion total health expenditures (THE) made by the government, corporations,

households, bilateral and multilateral donors, and other sources of funding last year.

“Total health expenditures at current prices grew by 8.3 percent in 2018 amounting to P799.1 billion from P737.8 billion in 2017.

It contributed 4.6 percent to the gross domestic product [GDP],” PSA said.

PSA said household spending increased by 10.5 percent in 2018 from P406.53 billion in 2017, and 19.52 percent from the P375.81 billion posted in 2016.

With an estimated population of 106.6 million in 2018, this translates to a per-capita spending by households of P4,213.619.

This was an 8.73-percent growth from the per-capita household spending of P3,875.427 in 2017 when there were 104.9 million Filipinos.

The per-capita spending of households is also more than half the cost paid by the country for all Filipinos in 2018.

Data showed that on a per-capita basis using THE, the country spent a total of P7,496 per person in 2018, a 6.6-percent growth from P6,391 per person in 2017.

PAF seizes ₧30-M clams in Cebu

By Rene Acosta

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@reneacostaBM

HE Philippine Air Force (PAF) reported on Thursday that its personnel in the Visayas seized at least P30 million worth of fossilized giant clams and arrested five suspects during an operation in Cebu.

A statement issued by the Air Force said that elements of the 301st Special Mission Group, joined by personnel of the Bureau of Fisheries and Aquatic Resources (BFAR) and agents of the National Bureau

of Investigation, seized the fossilized clams on Wednesday.

The operation was carried out on the strength of a search warrant, with authorities citing a violation of Republic Act 10654, or the amended Philippine Fisheries Code of 1998.

During the operation, the raiding team arrested five people, including the couple George and Bebing Oldama, Roweno Tajanlangit and two other suspects, both residents of Barangay Day-as and Barangay Catarman, Cordova, Cebu.

The Air Force said the raiding

TROPICAL DEPRESSION "PERLA” 840 KM EAST OF APARRI, CAGAYAN NORTHEASTERLY SURFACE WINDFLOW PREVAILING OVER LUZON as of 4:00 pm - October 17, 2019

team took a total of 90 pieces of large-sized, 59 pieces mediumsized, and six sacks of small-sized fossilized giant clams. A kilo of fossilized clams costs about P15,000.

This is the first time that the Air Force, the military’s primary air unit, had been involved in operations enforcing fishery violations.

It has, however, land-based fighting units like the special operations wing that is helping in the campaign against the New People’s Army, and which operates in Southern Tagalog.

₧449.171B Total out-of-pocket expenses in 2018, said the PSA. The total health expenditures made by the government, corporations, households, bilateral and multilateral donors, and other sources of funding last year stood at P766.86 billion

PSA said more than half of OOP or 50.1 percent—amounting to P206.7 billion—were spent on pharmacies while hospitals received the second-largest amount of OOP, at P148.8 billion.

The bulk of hospital expenditures went to private general

hospitals, at P108 billion; followed by providers of ambulatory health care at P55.7 billion, or 13.5 percent and providers of ancillary services at P1.7 billion or less than 1 percent.

Meanwhile, the PNHA data showed government spent P228.86 billion in 2018, accounting for 29.8 percent of THE. This was a 12.7-percent growth compared to the P203.127 billion posted in 2017.

Other sources of health spending are corporations; bilateral and multilateral donors; and unspecified institutional units providing revenues to financing schemes.

Data showed expenses made through unspecified institutional units providing revenues to

financing schemes reached P62.892 billion in 2018, accounting for 8.2 percent of THE. This represented growth of 51.8 percent from P41.436 billion in 2017 and 34.84 percent higher than the P46.642 billion in 2016.

The spending of corporations for health also grew 8.2 percent to P20.114 billion in 2018 from P18.582 billion in 2017, and 2.06 percent from P19.708 billion in 2016.

However, health expenditures from the rest of the world or bilateral and multilateral donors amounted to only P5.822 billion in 2018.

This represented a 68.1-percent contraction from P18.231 billion in 2017 and 60.67 percent from P14.802 billion in 2016.

SWS POLL SOTTO PRESIDES OVER PUZZLES 141ST I.P.U. ASSEMBLY’S BERSAMIN CLIMATE DEBATE

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ETIRING Chief Justice Lucas Bersamin on Thursday questioned the survey conducted by the Social Weather Stations (SWS) showing the Supreme Court net satisfaction rating went down from “very good” in June to “good” in September.

Nonetheless, Bersamin maintained a moderate level of net satisfaction rating for the third quarter of this year but earned three points from +13 in June 2019 to +16 in September this year.

The latest SWS survey was released on Wednesday, a day before Bersamin retires as chief magistrate.

Bersamin will turn 70 today (Friday), which is the mandatory age of retirement for a justice, but he opted to make yesterday (Thursday) his last day at the Court.

The chief justice said that while it is everyone’s right to conduct a survey, he is not aware how the SWS survey yielded such results.

“Survey? That is everybody’s right to have a survey… [but] we do not know what was their basis,” Bersamin said.

“You know, when you have a plus rating, you always like it. When you have a negative rating, we always look for the causes why we have had negative ratings. Now, whatever comes out of it, we react to it but not to be angry,” about it, he pointed out.

Bersamin’s three-point increase in overall net satisfaction was due to increases of eight points in Mindanao, four points in Balance Luzon, and two points in Metro Manila, combined with threepoint decline in the Visayas.

Net satisfaction with Bersamin rose from neutral to moderate in Mindanao, up from +6 in June to +14 in September.

Meanwhile, the SC’s net satisfaction rating went down from “very good” to “good,” from a record high of +54 in June to +41 in September.

The decline was due to decreases of 18 points in Mindanao, 17 points in Balance Luzon, and eight points in the Visayas, combined with a three-point increase in Metro Manila. In Mindanao, the Court’s net satisfaction rating dropped from very good (+59 ) to good (+41) in September. Joel R. San Juan

S

ENATE President Vicente Sotto III presided over a debate on a resolution drafted by the Inter-Parliamentary Group of India addressing climate change during the 141st Assembly of the Inter-Parliamentary Union (IPU) held in Belgrade, Serbia.

Sotto was the first Filipino parliamentarian to chair the IPU debate on a resolution addressing climate change. The IPU was expected to adopt the resolution before its closing ceremonies on Friday.

“It’s a rare privilege and great honor to preside over an important emergency matter such as the climate-change resolution... which led to a successful and orderly plenary debates on the issue,” the Senate chief said.

Last October 11, the Indian InterParliamentary Group asked IPU Secretary General Martin Chungong to include the resolution on climate change in the agenda of the 141st IPU assembly held from October 13 to October 17.

The resolution submitted by the Indian parliamentarians cited three issues which needed to be tackled.

“The first one pertains to the fact that developed countries have had to take a demonstrable lead in combating climate change.

The second is the need to pursue climate-friendly lifestyles for ensuring sustainable development, and the third is to ensure ways and means for humanity to cope with and adapt to a changing climate regime,” the resolution said.

“The draft resolution by India seeks to draw the attention of the world community to these three neglected issues which are at the heart of the climate-change challenge confronting humanity,” it added.

The resolution urged all parties to implement the United Nations Framework Convention on Climate Change (UNFCCC) in 1992, which laid down the broad principles and basis of climate action, namely on the basis of equity and the principle of common but differentiated responsibilities in accordance with national capabilities.

The convention also delineated the responsibilities and commitments of developed and developing countries, and the broad nature and content of these responsibilities and

commitments.

In particular, the resolution urged developed countries to take the lead in climate mitigation and to provide financial, technological and capacity-building assistance to the developing countries.

“The resolution seeks to draw the attention of the global community through the voice of the parliamentarians of 179 countries to these three significant dimensions of global climate action that must be the focus,” the Indian parliamentarians explained.

Sotto joined over 1,700 delegates at the assembly, which coincided with the union’s 130th anniversary.

Rules-based world

THE Senate President earlier delivered a speech urging parliamentarians worldwide to promote regional parliamentary cooperation within the ambits of international law.

By adopting international benchmarks and standards, he said, parliaments pursue the path of negotiation, conciliation and arbitration instead of the rule of force.

“Strengthening international law is very timely as the world has become more globalized.

Increased trade among our nations and the emergence of a global culture has made us more interconnected and interdependent,”Sotto, who headed the Philippine delegation, said.

In a rules-based world, Sotto explained, legal and ethical arguments prevail over brute force.

“That is why countries outside the Great Powers and developing states, like the Philippines have turned to international law as the great equalizer,” Sotto said.

For majority of the nations, he said, their role in international law is expressed in their parliament’s power to concur in the ratification of treaties. For instance, he said, the Philippines’s Constitution stipulates that “no treaty or international agreement shall be valid and effective unless concurred in by at least two-thirds of all the members of the Senate.”

He cited the boundary agreement between the Philippines and Indonesia as an example of a peaceful settlement of territorial boundaries between nations.

DOH airs alert on vaping by kids, pregnant women

By Claudeth Mocon-Ciriaco

T

Correspondent

HE Department of Health (DOH) on Thursday again called on users of electronic cigarettes and heated tobacco products, especially pregnant women and young adults, to immediately stop and refrain from vaping.

The World Health Organization (WHO) has introduced a new tool to be used immediately for reporting of acutely ill patients who have used electronic cigarettes in the last 90 days, with no other plausible causes for illness.

In response to the epidemic in the United States, the WHO introduced

International Classification of Diseases (ICD) 10 code U07.0, an international tool for classifying and monitoring diseases.

Health Secretary Francisco T. Duque III said the DOH together with the WHO and medical societies, warned the public on the harmful effects of electronic cigarettes and heated tobacco products.

“Electronic cigarettes and heated tobacco products are sold in the market as alternatives for smokers trying to wean themselves off tobacco. Some studies claim that they contain fewer toxic chemicals and are less harmful alternatives to cigarettes,” said Duque.

See “Vaping,” A2

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In the ad material of Notice of filing of Application for Alien Employment Permits published on October 3, 2019, the name of Ms. He, Xiuqin under CENTURY PINNACLE LAND DEVELOPMENT INC. should have been read as Ms. She, Xiuqin and not as published. While in the ad material published on October 4, 2019, the company name and address of Mr. Lu, Hanlin under GLOBALLGA BUSINESS PROCESS OUTSOURCING should have been read as GECYBER TECHNOLOGY INC. located at 6/F, Star Cruises, 100 Andrews Ave., Brgy.

183, Pasay , Metro Manila and not as published.

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

BusinessMirror

www.businessmirror.com.ph Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 October 18, 2019

29

YAMAHA MOTOR PHILIPPINES, INC. Lima Technology Center, Malvar, Batangas

MR. TAKAYOSHI MURAKAMI / Japanese

30

W.A. AND DCRUZ EDUCATIONAL CONSULTING Stanford Suites South Forbes Silang Cavite, Silang, Cavite

MR. WOUTER ALEXANDER HUIJG / Dutch

International Business Development Manager

31

LIMA LAND, INC. Lima Technology Center, Lipa City, Batangas Japanese

MR. TADASHI MISHINA / Japanese

International Relations Specialist

32

DAEGYOUNG APPAREL INC. CEZ, Rosario, Cavite

MR. WOO HEE WON / Korean

33

HITACHI CABLE PHILIPPINES, INC. Lima Technology Center, Lipa City, Batangas

MR. HIDEYUKI TAMURA / Japanese

34

PROCYCLE INDUSTRIAL INC. Brgy. Lantic, Carmona, Cavite

MR. GUO-HONG ZHAN / Taiwanese

35

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIHAI WANG / Chinese

Mandarin Customer Service Representative

36

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YANG WU/ Chinese

Mandarin Customer Service Representative

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

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

Friday, October 18, 2019 A29

QA/QE Technical Adviser

Vice President

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. LINJING SONG / Chinese

Chinese Customer Service Representative

2

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TIANZUO JIANG/ Chinese

Chinese Customer Service Representative

3

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. MINLEI HUANG/ Chinese

Chinese Customer Service Representative

4

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TAO SUN/ Chinese

Chinese Customer Service Representative

5

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HONG ZHANG/ Chinese

Chinese Customer Service Representative

37

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. WEI CHENG/ Chinese

Mandarin Customer Service Representative

6

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JINHANG HUANG/ Chinese

Chinese Customer Service Representative

38

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QILIN YANG/ Chinese

Mandarin Customer Service Representative

7

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XUYUAN TANG/ Chinese

Chinese Customer Service Representative

39

MS. HONGMEI ZHAO/ Chinese

Mandarin Customer Service Representative

8

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. RUIJIN WU/ Chinese

Chinese Customer Service Representative

40

MR. XIAOLONG YANG/ Chinese

Mandarin Customer Service Representative

9

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. FENG ZHANG/ Chinese

Chinese Customer Service Representative

41

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QIANGQIANG CHEN/ Chinese

Mandarin Customer Service Representative

MR. BAIJU NIE/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. QUANXIANG HU/ Chinese

Mandarin Customer Service Representative

MR. JINSHENG KANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. BIN RAO/ Chinese

Mandarin Customer Service Representative

MR. LEI HE/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

44

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JINGCAI TAN/ Chinese

Mandarin Customer Service Representative

MR. LIN JIANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHIYU DUN/ Chinese

Mandarin Customer Service Representative

MS. LISHAN SONG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

46

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YANG DONG/ Chinese

Mandarin Customer Service Representative

MS. PING HU/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XIANGHUA NING/ Chinese

Mandarin Customer Service Representative

MR. HAIFENG YANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIAYIN GU/ Chinese

Mandarin Customer Service Representative

MR. QINGQING SUN/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TAI WANG/ Chinese

Mandarin Customer Service Representative

MR. SONGBAO HUANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JINGXIN WU/ Chinese

Mandarin Customer Service Representative

MR. HEQIANG DONG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIAJIA LU/ Chinese

Mandarin Customer Service Representative

MR. JIANGZILONG ZOU/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

52 MR. MENGQI CHEN/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. MEIHONG YANG/ Chinese

Mandarin Customer Service Representative

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C-PAK PTE LTD. CIP II, Calamba City, Laguna

MR. LOH KOAH YEH / Singaporean

53 General Manager

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHUIQING TANG/ Chinese

Mandarin Customer Service Representative

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HAN-LIGHT PHIL. CORP. Brgy. Lalaan I, Silang, Cavite

MR. SUNGHOON KIM / Korean

General and Operation Manager

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TENG YANG/ Chinese

Mandarin Customer Service Representative

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CAL-COMP PRECISION (PHILIPPINES), INC. FPIP II-SEZ, Sta. Anastacia, Santo Tomas, Batangas

MR. YONG CHEN / Chinese

NPI Senior Specialist

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUCHUN WANG/ Chinese

Mandarin Customer Service Representative

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CAL-COMP PRECISION (PHILIPPINES), INC. FPIP II-SEZ, Sta. Anastacia, Santo Tomas, Batangas

MR. JINJUN TIAN / Chinese

Plastic Molding Deputy Specialist

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XIAOLIN SHI/ Chinese

Mandarin Customer Service Representative

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CAL-COMP PRECISION (PHILIPPINES), INC FPIP II-SEZ, Sta. Anastacia, Santo Tomas, Batangas

MS. YU-JYUN LIN / Taiwanese

Senior Planning Administrator

57

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. JINGQIU YANG/ Chinese

Mandarin Customer Service Representative

27

SUZUKI PHILIPPINES INCORPORATED CIP I, Canlubang, Calamba City, Laguna

MR. HIROAKI IGUCHI / Japanese

Production Purchasing Manager

58

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HUI CHU/ Chinese

Mandarin Customer Service Representative

28

AMKOR TECHNOLOGY PHILIPPINES, INC. LEPZ, Biñan City, Laguna

MR. JINSOO KIM / Korean

Senior Vice President/ATP Operation

59

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. GANG ZHOU/ Chinese

Mandarin Customer Service Representative

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Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

General Manager

Quality Control Supervisor

BusinessMirror

A30 Friday, October 18, 2019

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QIANKUN ZHENG/ Chinese

Mandarin Customer Service Representative

61

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HUA QIN/ Chinese

Mandarin Customer Service Representative

62

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIHUA HONG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. KAILONG ZHOU/ Chinese

Mandarin Customer Service Representative

64

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XIAOWEI TIAN/ Chinese

65

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

66

Name and Address of Company/Employer

www.businessmirror.com.ph

Name and Citizenship of Foreign National

Position and Brief Description of Functions

89

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHANQUAN LI/ Chinese

Mandarin Customer Service Representative

90

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QIULIN ZHAO/ Chinese

Mandarin Customer Service Representative

91

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHUAN QIN/ Chinese

Mandarin Customer Service Representative

92

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIXIONG LONG/ Chinese

Mandarin Customer Service Representative

Mandarin Customer Service Representative

93

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JINBO YANG/ Chinese

Mandarin Customer Service Representative

MR. GUANGSHENG LI/ Chinese

Mandarin Customer Service Representative

94

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TE NING/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QIHONG LIU/ Chinese

Mandarin Customer Service Representative

95

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QUEQIAO DAI/ Chinese

Mandarin Customer Service Representative

67

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUANZHAO QIN/ Chinese

Mandarin Customer Service Representative

96

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHUNWANG WU/ Chinese

Mandarin Customer Service Representative

68

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XIANGZE DAI/ Chinese

Mandarin Customer Service Representative

97

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JI SUN/ Chinese

Mandarin Customer Service Representative

69

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SUNWEN LIU/ Chinese

Mandarin Customer Service Representative

98

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. HO LE MY NGOC/ VIETNAMESE

Mandarin Customer Service Representative

70

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUNHAI LONG/ Chinese

Mandarin Customer Service Representative

99

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHENGBO WU/ Chinese

Mandarin Customer Service Representative

71

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. MINGXUAN LIU/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 100 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YANBIN HU/ Chinese

Mandarin Customer Service Representative

72

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YI ZHANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 101 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. YIXIU LI/ Chinese

Mandarin Customer Service Representative

73

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUHAO DENG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 102 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. WEIWEN CHEN/ Chinese

Mandarin Customer Service Representative

74

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHENGYUAN XIE/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 103 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUTAO LAI/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 104 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. WENHUA XU/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 105 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HE HUANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 106 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. DEHONG ZHANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 107 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HONGBO ZHOU/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 108 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIA WANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 109 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YE ZHANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 110 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. GE YANG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 111 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YIMING MA/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 112 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. GAOPENG GUO/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 113 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HENGQI FU/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 114 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHENGWEN LIU/ Chinese

Mandarin Customer Service Representative

63

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUFENG JI/ Chinese

MR. HUAN GONG/ Chinese

Mandarin Customer Service Representative

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIWEI HUANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. LIYANG DAI/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUANSHENG XIANG/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIE GUO/ Chinese

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HUANJIAN QIN/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHUHENG WU/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHENG ZHENG/ Chinese

Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YONG FAN/ Chinese

Mandarin Customer Service Representative

85

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. FENGJUAN HUANG/ Chinese

Mandarin Customer Service Representative

86

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. LIAN XIAO/ Chinese

Mandarin Customer Service Representative

87

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HAO WANG/ Chinese

Mandarin Customer Service Representative

88

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHUANLONG LENG/ Chinese

Mandarin Customer Service Representative

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

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

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007243

Companies BusinessMirror

www.businessmirror.com.ph

₧15-B Subic techno-eco park project launched by Taiwan firm

SBMA Chairman and Administrator Wilma T. Eisma asks investors to employ Subic upland farmers during the development of the Tipo Hightech Eco Park (THEP).

By Henry Empeño | Correspondent

S

UBIC BAY FREEPORT—A Taiwanese company has launched the P15-billion Tipo Hightech Eco Park (THEP) project here last week, looking to develop a 200-hectare property to accommodate light industrial factories, commercial facilities, high-end residential buildings and a nature park.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said the project will be located on a 200-hectare property atop the gently rolling hills of Tipo, which is also the site of an

expressway leading to this free port.

The development will be undertaken by Xantheng Subic International Corp., a Taiwanese company which is also behind the development of a high-end condominium

complex at Triboa Bay here.

THEP Project Manager Jeff Lin said during the launch of the project that THEP will be a mixed-use development that will bring in more Taiwanese projects into the Subic Bay Freeport.

According to the master plan submitted by THEP to SBMA, the development will include 101.47 hectares for light industries, 17.99 hectares for a commercial complex, 7.11 hectares for mixed use, 23.16 hectares for residential buildings, and 23.16 hectares for a nature and environment conservation park.

There will also be a reserved area for utilities use and other purposes for a total development area of 209.27 hectares.

Lin said that Xantheng Subic’s project will require more than 500 workers during the development period alone. More employees will be

hired when factories and businesses start operating in the area, he added.

The project is also expected to deliver to the SBMA some P5 million monthly in land rentals alone.

Lin said the THEP was conceived to accommodate the growing population of Taiwanese investors in the Subic Bay Freeport, but added that the management does not discount giving room for investments by other nationalities.

“The business atmosphere in here is very conducive and attractive, especially with the ongoing road and infrastructure projects of the SBMA,” Lin said. “Many Taiwanese companies and investors from other countries, too, are interested to locate here.”

Meanwhile, Eisma—at the project launch at the Peninsular Hotel here last week—elicited a promise from the investors to give priority hiring to qualified upland farmers of Tipo and Mabiga villages, who were part of a “social fencing” project of the SBMA which started in 2002. The 136.59 hectares they occupied under the SBMA program will be part of the THEP. “I want you to promise me that when the factories and business are up, you will give priority to hiring these families or their children,” Eisma said, referring to the 65 families who were part of the social fencing program.

The SBMA official also thanked the farmers for their cooperation, and for allowing a very smooth and pleasant negotiation and turnover.

Eisma also congratulated Xantheng for coming up with the idea of an industrial park which will incorporate environmental conservation.

She said the THEP will be the first project in the Subic Bay Freeport to include conservation areas within industrial and commercial zones.

With e-commerce, major global brands rely less on guess work

S

INGAPORE – For two major international brands, at least, gone are the days when marketing was more guess work than science, thanks to the introduction of e-commerce.

In a press conference in Singapore on Thursday, executives from LOreal and Procter and Gamble (P&G) confirmed they are now increasingly utilizing data from the online presence and transactions of their users for marketing purposes.

P&G Asia Pacific, Middle East & Africa eCommerce Associate Director Dong Hyun

Kim said they use it primarily to customize the experience of their customers, using information from their partner social media and e-commerce platforms.

“What we try to do is based on their profile [or] what they’re browsing, buying, we try to provide a personalized content,” Kim said.

This is also true for LOreal., according to its chief digital office for the Asia Pacific, Visna Lim. “LOreal is a very consumer-centric company. It has to make sure that we are offer-

ing the latest trend and fulfilling consumer needs,” Lim said.

Both noted that personalized experience usually leads to better product sales through “effortless shopping.”

Kim said, “Now, if they want to buy something from the US, they want the same product here so they want more choice and more contents.”

However, they noted that it does pose a challenge when it comes to their marketing strategy beyond traditional media.

“In the past we just did TV and some print

[ads]. Right now, the selling point is so fragmented. It is not linear anymore,” Kim said.

“The way we need to do marketing, brand building and selling is not simple anymore,” he added.

It is this integration that both LOreal and P&G are still in the process of perfecting.

“We have to make sure of the consistency of our different communications that we do have for offline and online, making sure our customers have the best experience online and in our store and marketplaces,” Lim said.

Samuel P. Medenilla

PAL opens new domestic routes, boosting Vis-Min link New flights by January 3 Davao-Iloilo-Davao (7x/week)

By Recto L. Mercene

F

@rectomercene

n PR 2539 Davao to Iloilo (Daily)Dep: 6:30 AM/Arr: 8:20 AM. n PR 2540 Iloilo to Davao (Daily)Dep: 8:40 AM/Arr: 10:30 AM Brand-new flights between Zamboanga and Tawi-Tawi will open by December 15, thus increasing connectivity within the Mindanao region.

LAG carrier Philippine Airlines (PAL) is opening new domestic routes in response to renewed calls for increased connectivity between Visayas and Mindanao regions. New Vis-Min domestic services are set to be launched by mid-December 2019 and early January 2020.

New flights by December 15 Zamboanga-Tawi-TawiZamboanga (Daily)

New flights by December 15 Cebu-Dipolog-Cebu (3x/week) n PR 2559 Cebu to Dipolog (M/W/F/Su) Dep: 7:00 AM / Arr: 8:00 AM n PR 2560 Dipolog to Cebu (M/W/F/ Su) Dep: 8:30 AM / Arr: 9:30 AM

New flights by December 15 Cebu-Zamboanga-Cebu (14X/week) n PR 2991 Cebu to Zamboanga (Daily) Dep: 5:40 AM / Arr: 7:10 AM

n PR 2992 Zamboanga to Cebu (Daily)Dep: 4:00 PM/ Arr: 5:30 PM n PR 2995 Cebu to Zamboanga

(Daily)Dep: 2:00 PM/Arr: 3:30 PM n PR 2996 Zamboanga to Cebu (Daily)Dep: 4:00 PM/Arr: 5:30 PM

n PR 2485 Zamboanga to TawiTawi (Daily) Dep: 8:00 AM/Arr: 9:30 AM. n PR 2486 Tawi-Tawi to Zamboanga (Daily) Dep: 10:00 AM / Arr:11:30 AM. In anticipation of increased demand this holiday season and beyond, the Cebu-Legazpi-Cebu routes will have additional frequencies, from three times to 10 times a week.

Friday, October 18, 2019 B1

SHOPEE EYEING 1ST-TIME E-SHOPPERS AS IT BUILDS ITS MARKET IN MANILA

By Samuel P. Medenilla

@sam_medenilla

S

INGAPORE - E-commerce firm Shopee is now eyeing to boost its presence in the Philippines— one of its top potential markets in Southeast Asia—by going after first-time e-shoppers.

Shopee Chief Operating Officer Terence Pang said online purchasing remains a relatively new trend in the country, translating to still many untapped potential customers. “[In] the Philippines, I think the priority is still very much on growing,” Pang said during a round table media discussion at the new Shopee headquarters here.

Currently, Shopee estimates only around 2 percent to 4 percent of the population make online purchases.

The Philippine Statistics Authority (PSA) placed e-commerce higher, at between 13.5 percent and 14 percent as of 2015.

“If you imagine, there’s thousands of Filipinos who are coming online and making their very first purchase in their lives everyday. So what Shopee needs to do is provide them with this excuse to come on and develop that habit with us and build this relationship, and help them buy more things online,” Pang said.

Complete package TO access this potential market, Pang unveiled their comprehensive three-year strategy in the country, with plans to go beyond mere e-commerce.

Accessing this market potential, he said, will mean increasing their engagement with their customers either through creating more socializing features in their mobile application like games, and engaging popular brand ambassadors like Sarah Geronimo and, recently, Sen. Emmanuel “Manny” Pacquiao.

“It has evolved from something as simple as having a lot of products, sellers, nice good brands, cheap prices,” Pang said.

Pang added that they expect people to “spend a lot more time interacting with the app. Not just focusing on the end-transactions.”

Educating the public, Pang said, will also be crucial in their market strategy.

“How do we educate the buyers, so that they become more comfortable with buying? And how do we build credibility and a relationship with our end users [in the process?],” Pang said.

And then, there is the external factor, which Pang conceded they could do very little about, like logistics, sellers and public access to mobile phones.

Fortunately, he said there is an existing “ecosystem” in the country, where these components for a successful e-commerce are flourishing.

Regional growth SHOPEE is currently moving to cement its strong regional presence in Southeast Asia and Taiwan, especially with the recent opening of its new Singapore main office.

“Our new headquarters reflect our long-term commitment to unlock the full potential of e-commerce in Southeast Asia and Taiwan. We will do this by making online shopping an engaging social experience that connects people across the region,” Shopee Chief Executive Officer Chris Feng said in a statement.

Shopee claimed it is currently the leading e-commerce platform in its covered markets, with over 200 million downloads of its apps and over 7 million active sellers.

This after Shopee reported that its gross merchandise value (GMV), the total sales made by the firm in a period, had already reached $3.8 billion for the second quarter of the year—72.3 percent higher compared to the same period in 2018.

Likewise, its gross orders in the same quarter increased by 92.7 percent to 246.3 million, from 127.8 million year-on-year.

It is now poised to exceed its last year’s performance with its upcoming 11.11 Big Sale.

During the annual event, the average store traffic of Shopee’s partner brands and sellers typically increases by 400 percent.

B2

Companies BusinessMirror

Friday, October 18, 2019

PSE STOCK QUOTATIONS

Alveo eyes at least ₧38-B revenue from biggest development in Laguna

October 17, 2019

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

BDO UNIBANK 148.5 149.5 148.5 149.5 147.3 149.5 711,180 105,997,031 BANK PH ISLANDS 94.95 95 95 95.3 94.8 95 4,782,500 454,399,208.5 CHINABANK 24.95 25 25.05 25.05 24.95 24.95 90,500 2,260,860 EAST WEST BANK 12.02 12.14 12.14 12.26 12 12.14 292,800 3,548,438 METROBANK 68.7 68.8 68.55 69 68.2 68.8 2,544,160 174,442,590 ( PB BANK 12.8 12.98 12.8 12.8 12.8 12.8 900 11,520 PBCOM 20.7 21.9 22.55 22.55 22.55 22.55 100 2,255 PHIL NATL BANK 43.55 43.6 43 43.85 43 43.55 51,800 2,250,370 PSBANK 57.95 58.35 58 58.45 57.9 57.9 2,060 119,606.5 PHILTRUST 116.1 134.9 114 116.1 114 116.1 4,380 499,435 RCBC 25.95 26 26 26.1 25.85 26 24,600 639,560 SECURITY BANK 199.6 200 196.5 200 194.5 200 985,680 196,403,157 UNION BANK 59 59.5 59.95 60 59 59 3,690 218,822 BRIGHT KINDLE 1.1 1.2 1.26 1.26 1.26 1.26 1,000 1,260 BDO LEASING 2.01 2.07 2.05 2.05 2 2 5,000 10,050 COL FINANCIAL 18.52 18.6 18.62 18.62 18.52 18.52 90,600 1,680,030 FIRST ABACUS 0.53 0.59 0.53 0.53 0.53 0.53 36,000 19,080 FERRONOUX HLDG 4.77 4.79 4.79 4.79 4.6 4.79 328,000 1,529,310 IREMIT 1.25 1.27 1.26 1.28 1.26 1.27 108,000 137,000 MEDCO HLDG 0.405 0.42 0.405 0.405 0.405 0.405 30,000 12,150 MANULIFE 750 760 750 750.5 750 750 790 592,650 NTL REINSURANCE 0.88 0.9 0.9 0.9 0.88 0.88 19,000 16,760 PHIL STOCK EXCH 176.5 178.8 178.8 178.8 178.8 178.8 2,170 387,996 SUN LIFE 1,790 1,840 1790 1,835 1,790 1,835 30 54,740

INDUSTRIAL ALSONS CONS 1.29 1.32 1.29 1.29 1.29 1.29 40,000 51,600 ABOITIZ POWER 39.2 39.4 38.5 39.5 38.5 39.4 763,000 29,834,920 BASIC ENERGY 0.25 0.255 0.25 0.255 0.25 0.255 2,150,000 544,100 FIRST GEN 25 25.3 25 25.4 25 25 678,100 17,045,610 FIRST PHIL HLDG 79 79.05 79.1 79.2 79.05 79.05 24,570 1,942,648(1, MERALCO 365.8 369 367 369 363.2 369 112,880 41,475,804 MANILA WATER 20.2 20.25 20 20.2 20 20.2 149,000 3,003,905 PETRON 5.05 5.06 5.06 5.09 5.05 5.06 241,700 1,225,053 PETROENERGY 4.12 4.2 4.13 4.2 4.1 4.12 52,000 215,380 PHINMA ENERGY 2.81 2.82 2.75 2.84 2.7 2.81 65,908,000 183,682,230 PHX PETROLEUM 10.84 11 10.82 11 10.82 11 12,500 137,050 PILIPINAS SHELL 33.75 33.95 34 34.1 33.75 33.75 113,000 3,835,490 SPC POWER 7.28 7.3 7.34 7.35 7.28 7.3 129,600 945,939 AGRINURTURE 15.62 15.9 15.8 15.9 15.8 15.9 302,400 4,804,692 AXELUM 4.43 4.45 4.34 4.48 4.34 4.43 7,897,000 34,842,050 CNTRL AZUCARERA 17.46 18.26 17.54 18.38 17.44 18.26 3,000 52,680 CENTURY FOOD 15.18 15.2 15.16 15.2 15.16 15.18 502,100 7,622,866 DEL MONTE 5.51 5.55 5.52 5.6 5.4 5.51 33,900 188,500 ( DNL INDUS 8.48 8.5 8.4 8.53 8.4 8.5 7,016,000 59,633,131 EMPERADOR 6.99 7 7 7.03 6.95 7 1,688,100 11,825,538 SMC FOODANDBEV 90.2 90.5 90.75 90.95 90.1 90.5 318,780 28,848,887 ALLIANCE SELECT 0.68 0.7 0.71 0.71 0.68 0.7 858,000 597,120 GINEBRA 47.5 48.85 48.5 48.5 47.5 47.5 36,600 1,743,725 JOLLIBEE 233.8 235 233.4 235 232.4 235 327,640 76,769,142 LIBERTY FLOUR 40 50 41 53 41 50 3,600 171,200 MACAY HLDG 9.01 9.5 8.69 10.32 8.04 9.5 93,900 880,855 MAXS GROUP 13.3 13.36 13.1 13.36 13.08 13.3 1,145,300 15,027,652 MG HLDG 0.184 0.198 0.184 0.198 0.184 0.198 140,000 26,040 PEPSI COLA 1.82 1.83 1.76 1.84 1.76 1.83 8,966,000 16,210,740 SHAKEYS PIZZA 11.16 11.18 11.18 11.2 11.14 11.18 58,500 654,086 ROXAS AND CO 1.98 2.01 1.96 2.08 1.96 1.98 4,384,000 8,834,900 RFM CORP 5.09 5.1 5.1 5.1 5 5.09 38,000 193,205 ROXAS HLDG 2.17 2.22 2.19 2.22 2.19 2.22 8,000 17,670 UNIV ROBINA 159.8 160 159.9 160.3 158.1 160 1,153,200 184,501,723 VITARICH 1.28 1.29 1.24 1.3 1.24 1.28 15,584,000 19,929,250 VICTORIAS 2.5 2.61 2.61 2.61 2.61 2.61 2,000 5,220 CEMEX HLDG 2.5 2.51 2.46 2.5 2.43 2.5 1,363,000 3,374,860 EAGLE CEMENT 15.16 15.42 15.42 15.42 15.16 15.16 11,500 174,854 EEI CORP 10.32 10.4 10.44 10.52 10.32 10.32 77,700 806,680 HOLCIM 14.7 14.88 14.88 14.88 14.7 14.88 258,900 3,846,542 MEGAWIDE 17.94 17.96 18 18 17.94 17.96 2,342,800 42,084,786 PHINMA 9.36 9.4 9.42 9.42 9.36 9.41 2,900 27,302 TKC METALS 1.07 1.09 1.1 1.1 1.06 1.09 320,000 348,500 VULCAN INDL 1.15 1.16 1.17 1.17 1.15 1.16 643,000 742,900 CHEMPHIL 111.6 130 119 120 119 120 210 25,040 CROWN ASIA 2.03 2.06 2.05 2.05 2.05 2.05 20,000 41,000 EUROMED 1.6 1.73 1.6 1.6 1.6 1.6 2,382,000 3,811,200 LMG CHEMICALS 5.22 5.25 5.2 5.25 5.2 5.25 28,800 149,895 MABUHAY VINYL 3.25 3.51 3.4 3.51 3.25 3.51 15,000 49,430 PRYCE CORP 5.4 5.41 5.4 5.41 5.4 5.4 364,700 1,969,430 CONCEPCION 31.85 32 32.35 32.35 32 32 22,200 717,435 GREENERGY 2.43 2.47 2.42 2.47 2.38 2.47 12,430,000 30,034,110 INTEGRATED MICR 8.03 8.05 8.16 8.16 8.04 8.05 535,500 4,322,042 1 IONICS 1.47 1.52 1.5 1.54 1.47 1.53 210,000 314,840 SFA SEMICON 1.01 1.03 1 1 1 1 5,000 5,000 CIRTEK HLDG 8.88 8.9 8.86 9.02 8.86 8.89 467,300 4,174,390

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

0.9 12.52 864.5 54.1 11.72 3.64 6.62 0.7 1.13 1.16 6.7 8.77 13.06 0.216 860 5.63 73.6 5.16 0.485 4.31 13.72 0.58 4.9 0.038 1.37 406 1,005 167.6 0.85 217.4 0.225

0.91 12.8 865 54.3 11.78 3.65 6.89 0.72 1.14 1.17 6.72 8.78 13.36 0.227 862 5.67 73.85 5.54 0.5 4.36 13.78 0.6 4.91 0.039 1.38 434.8 1,006 167.7 0.87 218 0.23

0.88 12.78 872.5 53.95 11.72 3.66 6.72 0.72 1.15 1.17 6.82 8.88 13.2 0.218 862 5.67 73.9 5.06 0.51 4.38 14.1 0.6 5.01 0.038 1.35 404.2 1004 166 0.85 219.6 0.231

0.91 13 875.5 54.3 11.78 3.68 6.72 0.73 1.15 1.19 6.82 8.9 13.4 0.227 862.5 5.67 73.95 5.06 0.51 4.38 14.16 0.6 5.01 0.038 1.39 404.2 1,009 168 0.85 219.6 0.231

0.87 12.6 861.5 53.3 11.52 3.6 6.62 0.7 1.13 1.16 6.71 8.68 13.04 0.216 855.5 5.67 73 5.06 0.485 4.31 13.72 0.58 4.87 0.038 1.35 403 997.5 166 0.84 218 0.231

0.91 12.8 865 54.3 11.78 3.65 6.62 0.72 1.14 1.17 6.72 8.78 13.38 0.227 862 5.67 73.85 5.06 0.5 4.36 13.72 0.6 4.91 0.038 1.38 403 1,006 167.7 0.85 218 0.231

21,791,000 14,300 400,740 506,460 2,970,600 1,583,000 5,700 449,000 674,000 361,000 355,600 6,187,300 32,100 210,000 152,000 130,000 1,200,530 900 4,000 344,000 1,412,000 333,000 24,193,000 500,000 172,000 140 1,113,685 72,100 82,000 620 100,000

19,588,230 182,440 346,997,840 27,353,252.5 34,720,586 5,744,270 37,780 318,190 769,240 423,380 2,390,450 54,261,680 422,478 45,670 130,947,160 737,100 88,481,483 4,554 2,005 1,484,170 19,596,520 195,880 118,949,410 19,000 235,730 56,488 1,119,265,310 12,082,867 69,100 135,434 23,100

36,745,613 188,894,342 (1,121,420) 170,092 80,469,104.5) 222,050 7,800 12,218,392 (157,634.5) (255,150) 357,600

(5,455,560) 5,808,310 602,569.9997) 18,379,310 1,925,860 49,220 (12,863,600) (1,911,050) 365,728 1,767,610 4,887,720 4,643,604 161,299.9997) (6,366,927) (6,887,772) 16,698,990.5 1,262,925 14,343,504 593,728 2,800,370 (92,948) (5,360,759) 661,220 (358,820) 25,842 (358,484) 380,514 (28,957,210) 55,000 (8,120.0002) (219,245) 337,280 ,472,475.9998 (406,789) (2,235,410) (130,244,465) 6,823,498 15,688,716 (101,420) 410,490 187,658 (35,260,372) (20,882) 3,447,635 (691,740) 48,050,634.5 (1,340,910) 6,929,586 (84,181,090) (17,940) 1017565220 (920,656) 45,792 -

PROPERTY

ARTHALAND CORP 0.85 0.86 0.86 0.86 0.85 0.86 961,000 817,030 AYALA LAND 49 49.2 49.1 49.2 48.5 49.2 4,017,900 197,206,370 74,188,635 BELLE CORP 2.01 2.02 2.03 2.05 1.99 2.01 7,804,000 15,800,270 ( 161,799.9999) A BROWN 0.82 0.83 0.83 0.83 0.82 0.82 292,000 239,660 CITYLAND DEVT 0.84 0.87 0.86 0.87 0.86 0.87 208,000 180,880 CEBU HLDG 6.1 6.28 6.28 6.28 6.28 6.28 200 1,256 CEB LANDMASTERS 4.68 4.7 4.75 4.75 4.68 4.68 52,000 243,980 (47,130) CENTURY PROP 0.56 0.58 0.56 0.58 0.56 0.58 39,716,000 22,598,560 195,930 CYBER BAY 0.39 0.4 0.39 0.4 0.39 0.4 970,000 380,500 DOUBLEDRAGON 20.3 20.4 20.7 20.7 20.3 20.3 134,500 2,753,980 (2,293,595) DM WENCESLAO 9.76 9.8 9.8 9.81 9.74 9.8 56,400 552,497 59,799.0003 EMPIRE EAST 0.43 0.445 0.44 0.44 0.44 0.44 120,000 52,800 EVER GOTESCO 0.121 0.122 0.122 0.122 0.122 0.122 60,000 7,320 FILINVEST LAND 1.61 1.62 1.62 1.62 1.59 1.62 9,798,000 15,762,610 7,970,900 GLOBAL ESTATE 1.2 1.21 1.2 1.22 1.2 1.2 374,000 449,360 8990 HLDG 15 15.08 15 15.02 15 15 600,700 9,015,746 (373,518) PHIL INFRADEV 1.35 1.37 1.38 1.38 1.35 1.37 1,097,000 1,494,660 135,000 MEGAWORLD 4.78 4.8 4.78 4.82 4.75 4.8 8,513,000 40,756,370 5,873,230 MRC ALLIED 0.3 0.305 0.305 0.305 0.295 0.305 4,250,000 1,271,600 PRIMEX CORP 2.02 2.04 2.04 2.04 2.01 2.04 45,000 90,860 ROBINSONS LAND 24.95 25.3 25.55 25.55 24.95 24.95 1,230,000 30,965,905 (8,544,060) PHIL REALTY 0.375 0.38 0.38 0.38 0.37 0.38 210,000 79,700 ROCKWELL 2.23 2.25 2.25 2.34 2.24 2.25 191,000 430,050 SHANG PROP 3.24 3.27 3.24 3.27 3.24 3.27 35,000 114,290 26,040 STA LUCIA LAND 2.64 2.65 2.64 2.66 2.56 2.64 1,935,000 5,067,120 7,950 SM PRIME HLDG 38.8 38.95 38.55 38.95 38.3 38.95 6,492,300 251,547,800 71,438,575 VISTAMALLS 5.6 5.67 5.65 5.69 5.58 5.67 119,000 668,605 SUNTRUST HOME 0.9 0.93 0.92 0.93 0.89 0.93 38,000 34,670 PTFC REDEV CORP 50 52 45.15 53 45.15 52.95 320 16,498 VISTA LAND 7.65 7.7 7.68 7.7 7.63 7.7 5,910,700 45,377,254 (9,662,372)

SERVICES ABS CBN 19 19.1 19 19.16 18.8 19 26,800 509,872 GMA NETWORK 5.22 5.23 5.18 5.27 5.18 5.23 21,400 111,892 GLOBE TELECOM 1,865 1,870 1840 1,875 1,840 1,870 40,030 74,697,690 8,387,275 PLDT 1,106 1,109 1105 1,117 1,105 1,106 87,545 97,184,210 (12,606,745) APOLLO GLOBAL 0.042 0.043 0.042 0.042 0.042 0.042 400,000 16,800 DFNN INC 5.5 6.15 5.5 5.5 5.5 5.5 6,000 33,000 (33,000) ISLAND INFO 0.107 0.113 0.107 0.107 0.107 0.107 100,000 10,700 ISM COMM 4.82 4.84 4.94 4.99 4.78 4.82 3,928,000 19,048,270 294,770 JACKSTONES 2.51 2.6 2.57 2.63 2.51 2.51 558,000 1,408,330 NOW CORP 3 3.01 3.04 3.06 2.95 3 2,582,000 7,731,820 (503,410) TRANSPACIFIC BR 0.32 0.325 0.32 0.33 0.315 0.32 3,930,000 1,266,650 PHILWEB 3.21 3.22 3.17 3.22 3.15 3.22 695,000 2,226,520 (44,270) 2GO GROUP 10.2 10.26 10.1 10.26 10.1 10.26 5,300 54,266 ASIAN TERMINALS 16.1 17 17 17 17 17 800 13,600 CHELSEA 6.88 6.91 7.03 7.03 6.81 6.88 680,100 4,687,363 (120,062) CEBU AIR 96.8 97 96.45 97 96.2 97 472,880 45,767,157.5 30,043,251 INTL CONTAINER 121.8 122 121.3 123.4 120.6 122 1,475,030 179,869,466 77,002,121 MACROASIA 18.42 18.8 18.3 18.8 18.3 18.8 42,800 789,844 METROALLIANCE A 1.08 1.09 1.1 1.1 1.09 1.09 48,000 52,520 PAL HLDG 8.21 8.29 8.1 8.29 8.1 8.29 700 5,768 HARBOR STAR 1.57 1.58 1.56 1.59 1.56 1.57 173,000 270,960 ATERFRONT 0.68 0.69 0.66 0.69 0.66 0.69 302,000 205,990 IPEOPLE 8.1 8.15 8.15 8.15 8.15 8.15 600 4,890 STI HLDG 0.67 0.68 0.67 0.68 0.67 0.67 229,000 154,770 (28,140) BERJAYA 2.35 2.41 2.33 2.41 2.33 2.41 58,000 139,240 BLOOMBERRY 10.62 10.7 10.7 10.9 10.56 10.62 2,636,900 28,140,896 (4,550,612) PACIFIC ONLINE 2.84 2.86 2.88 2.88 2.84 2.86 105,000 300,400 5,720 LEISURE AND RES 2.97 2.98 2.98 2.98 2.97 2.98 42,000 124,990 MANILA JOCKEY 3.38 3.4 3.35 3.38 3.35 3.38 37,000 124,450 PH RESORTS GRP 4.85 5 4.85 5.18 4.81 5.18 56,000 279,380 (56,610) PREMIUM LEISURE 0.68 0.69 0.68 0.7 0.68 0.68 1,360,000 927,860 ALLHOME 11.48 11.5 11.54 11.56 11.48 11.5 15,173,100 174,547,824 (115,165,768) METRO RETAIL 2.4 2.41 2.45 2.45 2.4 2.41 413,000 996,980 (24,040) PUREGOLD 40 40.05 39.8 40 39.75 40 2,426,000 96,950,030 (8,080,530) ROBINSONS RTL 76.85 76.9 77.65 77.65 76.6 76.9 343,480 26,428,865 (4,012,558) PHIL SEVEN CORP 134 138.6 134 136.5 134 136.5 195,290 26,169,008 6,825 SSI GROUP 2.57 2.58 2.6 2.63 2.56 2.57 1,233,000 3,196,740 (272,240) WILCON DEPOT 16.34 16.36 16.86 16.86 16.22 16.36 1,222,800 20,010,392 (6,253,366) APC GROUP 0.57 0.58 0.57 0.58 0.56 0.57 6,647,000 3,753,270 367,330 EASYCALL 9.05 9.2 9.05 9.2 9.05 9.05 20,300 184,107 GOLDEN BRIA 431.2 437.8 431.2 439 431.2 438 380 165,272 IPM HLDG 3.61 3.86 3.61 3.61 3.61 3.61 1,000 3,610 PRMIERE HORIZON 0.52 0.53 0.52 0.53 0.51 0.53 2,182,000 1,133,670 SBS PHIL CORP 9.11 9.2 9.14 9.2 9.11 9.11 83,400 761,748

MINING & OIL ATOK 12.38 12.4 12.44 12.44 12 12.4 41,800 515,682 APEX MINING 1.12 1.13 1.14 1.14 1.12 1.12 450,000 508,580 ( 181,929.9999) ABRA MINING 0.0016 0.0017 0 0.0017 0.0017 0.0016 0.0016 146,000,000 246,200 COAL ASIA HLDG 0.28 0.285 0.28 0.28 0.28 0.28 50,000 14,000 CENTURY PEAK 2.6 2.62 2.6 2.62 2.6 2.62 230,000 602,500 DIZON MINES 7.43 7.69 7.69 7.69 7.45 7.69 1,500 11,439 FERRONICKEL 1.66 1.67 1.73 1.73 1.66 1.66 8,102,000 13,601,940 125,970 GEOGRACE 0.206 0.211 0.211 0.212 0.204 0.211 460,000 95,610 LEPANTO A 0.106 0.107 0.105 0.107 0.105 0.106 1,980,000 209,940 LEPANTO B 0.105 0.11 0.109 0.11 0.108 0.11 930,000 101,880 30,380 MARCVENTURES 1.1 1.14 1.16 1.16 1.1 1.14 125,000 141,640 35,200 NIHAO 1.02 1.06 1.07 1.07 1.02 1.06 277,000 282,790 NICKEL ASIA 3.86 3.87 4.03 4.06 3.84 3.87 12,431,000 48,691,780 2,473,370 ORNTL PENINSULA 0.85 0.87 0.86 0.87 0.85 0.87 294,000 252,840 14,450 PX MINING 3.62 3.64 3.59 3.65 3.59 3.64 205,000 745,190 90,920 SEMIRARA MINING 22.9 22.95 22.95 22.95 22.7 22.95 34,300 785,380 (244,710) UNITED PARAGON 0.0061 0.0062 0 0.0062 0.0062 0.0062 0.0062 2,000,000 12,400 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.012 18,900,000 219,900 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 4,400,000 52,700 PHINMA PETRO 11 11.04 10.8 11.18 10.52 11 919,800 10,100,732 46,878 PXP ENERGY 12.16 12.18 12.3 12.42 12.1 12.16 507,800 6,202,370 (20,570)

PREFFERED

HOUSE PREF A 97 98.15 98.15 98.15 98.15 98.15 10 981.5 AC PREF B1 500 507 506 506 500 500 2,360 1,181,240 DD PREF 100.7 101 101 101 101 101 86,250 8,711,250 GTCAP PREF B 971 990 971 971 971 971 30 29,130 LR PREF 0.99 1.01 1.01 1.01 1.01 1.01 1,000 1,010 MWIDE PREF 100.9 101.2 101.2 101.2 101.2 101.2 2,500 253,000 PNX PREF 3B 107 108 108 108 108 108 200 21,600 PCOR PREF 2B 1,015 1,025 1030 1,030 1,025 1,025 20 20,550 PCOR PREF 3A 1,040 1,055 1055 1,055 1,055 1,055 2,595 2,737,725 SMC PREF 2C 78 78.25 78 78.25 78 78.25 11,550 901,312.5 SMC PREF 2D 75.1 75.8 75.6 75.6 75 75 33,550 2,526,950 SMC PREF 2F 76.5 76.95 77 77 77 77 390 30,030 SMC PREF 2G 75.6 76.5 75.6 75.6 75.5 75.5 5,000 377,780 SMC PREF 2H 75.7 76 75.5 75.5 75.1 75.5 18,400 1,387,280 SMC PREF 2I 75.1 75.8 76 76 75 75.5 171,380 12,942,081 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

18

18.76

18

18.78

18

18.76

148,600

2,675,276

WARRANTS LR WARRANT

1.56

SMALL & MEDIUM ENTERPRISES ITALPINAS 6.92 KEPWEALTH 12.76 MAKATI FINANCE 2.48 XURPAS 0.9

1.56

1.6

1.56

1.6

25,000

39,800

-

6.93 12.8 2.81 0.91

6.61 11.8 2.5 0.89

6.94 12.86 2.5 0.91

6.6 11.62 2.48 0.88

6.93 12.8 2.48 0.91

576,900 3,779,100 10,000 803,000

3,933,836 47,213,772 24,820 717,820

38,718 (239,664) -

EXHANGE TRADE FUNDS FIRST METRO ETF

118

(0)

1.59

118.8

118.4

118.8

118

118.8

3,150

372,813

-

www.businessmirror.com.ph

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A

By VG Cabuag

@villygc

LVEO Land Inc., the midrange brand of property developer Ayala Land Inc., has launched its biggest mixed-use development located in Biñan, Laguna, and hopes to raise revenues of P38 billion from its commercial part alone.

Alveo is currently at the site-development stage for its 120-hectare property called Broadfield. The company said it sold some P2.8 billion worth of lots during its first day of sale last week.

Buyers mostly came from the suppliers or locators at the Laguna Technopark, who are looking for their back office in the area.

Broadfield will be the company’s biggest mixed-use development, with its previous projects, such as the Evo City in Cavite at just 20 hectares.

Some 40 hectares of Broadfield was allotted for residential subdivision and 80 hectares will be for com-

mercial, such as office and retail.

Alveo Land COO Rufino Gutierrez said Broadfield has allocated 36.6 hectares for commercial use for the first phase of the project with a total sales value of P17.7 billion.

Tranche 1 has a total of 35 commercial lots, worth about P6.8 billion, ranging in size from 1,324 square meters to 2,915 sq m with an average list price of P185 million initially offered.

“Broadfield’s location sets it at the heart of South Luzon’s thriving residential, leisure, industrial and manufacturing center. We have a well-designed master plan that applies the best practices of Ayala Land

Meralco completes its power substation in New Clark City

By Lenie Lectura @llectura

T

HE Manila Electric Co. (Meralco) has completed its new power substation in New Clark City (NCC), but electricity could not be delivered yet to due to interconnection issues.

“We have done our part as New Clark city operator. Together with Marubeni, we are ready to connect,” said Meralco PowerGen Corp. (MGen) President Rogelio Singson.

MGen is the power generation arm of Meralco.

The Meralco Marubeni Corp., comprised of Meralco, Marubeni Corp., Kansai Electric Power Co. Inc. and Chubu Electric Power Co. Inc., signed a joint venture agreement with the Bases Conversion and Development Authority (BCDA) to provide electricity services in NCC. “Our transformer substation and the underground distribution line inside NCC are done. Unfortunately, there is an interconnection requirement from our line to the users which is called the last mile,” said Singson.

When asked to elaborate, Singson said in a text message that the building owner has yet to comply with this requirement based on the specifications provided by Shin Clark Power Group “so they can be connected to the distribution lines.”

The 9,450-hectare NCC, located within

the Clark special economic zone that spans Angeles City in Pampanga and the towns of Capas and Bamban in Tarlac, is the country’s first smart, disaster-resilient and sustainable city.

The first phase of the development covering 60 hectares features the National Government Administrative Center that will house backup offices of various government agencies and a world-class sports complex now being constructed in time for the 2019 Southeast Asian Games.

The new metropolis will also have mixed-use residential, commercial, agroindustrial, educational institutions and information-technology developments.

The consortium will put up a special purpose company that will have equity stake equivalent to 90 percent in a joint venture company to be formed with the BCDA. The JVC will then have to pursue and undertake the financing, design and engineering, establishment, construction, development, and operation and maintenance of the electric power distribution system in NCC. Meralco, which has a 60-percent equity stake in the consortium, said the power substation was recently energized. They submitted the lowest tariff bid of P0.6188 per kilowatt-hour, besting the P0.9888/ kwh proposal by the Aboitiz-Kepco Consortium of the Olongapo Energy Corp. and Kepco Philippines Holdings Inc.

TSMC revenue outlook bright, thanks to solid iPhone demand

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AIWAN Semiconductor Manufacturing Co. (TSMC), the primary chip supplier to Apple Inc., projected current-quarter revenue ahead of analysts’ estimates after the latest iPhones proved a hit with consumers.

The world’s largest contract chipmaker foresees revenue of $10.2 billion to $10.3 billion in the December quarter, surpassing an average projection for about $9.9 billion.

TSMC gave that sales outlook after reporting net income of NT$101.1 billion ($3.3 billion) for the September quarter, handily beating estimates as the global chip market recovers.

TSMC, the main chipmaking partner to Apple and China’s Huawei Technologies Co., is benefiting from reinvigorated smartphone sales. Lower prices and aging handsets are helping drive demand for the iPhone 11 range, and Apple is said to be asking its assemblers to target the high end of an original forecast for 70 million to 75 million unit

shipments in 2019.

TSMC and its industry peers have grappled with a plateauing smartphone market, efforts by top customer Apple to move beyond hardware, and US tech-export curbs on No. 2 customer Huawei. But investors are growing more confident that the latest iPhones are firing up consumers. TSMC is in fact straining against capacity constraints in the current quarter, Sanford C. Bernstein analyst Mark Li said.

The “iPhone is driving stronger near-term demand. We believe the competitive pricing of iPhone 11 is garnering good traction and has prompted Apple to place more orders at the supply chain,” Li said in an October 10 note.

Revenue was NT$293 billion according to previously reported sales data. Shares of TSMC climbed to a record in October on optimism over the latest iPhones. They closed about 1 percent lower ahead of the earnings report. Bloomberg News

in property development. This district will be innovative, sustainable and progressive,” Gutierrez said.

He said other target markets for the commercial lots are companies planning to put up office facilities in Laguna, as well local investors who may choose to lease these lots or put up office, commercial or residential buildings.

The succeeding tranches of land offerings will depend on the take-up of the current land sale.

Broadfield is 4 kilometers from Nuvali and 21 kilometers from Alabang; it will also be accessible from the South Luzon Expressway through the main roads of Governor’s Drive and the Santa Rosa-Tagaytay Road.

Accessibility will be further improved upon completion of the Cavite-Laguna Expressway and the planned Cavite-Tagaytay-Batangas

Mutual Funds

Expressway.

Broadfield will also be near the Laguna Technopark and the Laguna International Industrial Park. Other established commercial and retail options in the area are Nuvali’s Ayala Malls Solenad, Laguna Central Mall and Paseo Santa Rosa outlets.

As for educational institutions, Broadfield is adjacent to the De La Salle University Laguna campus, which is the site of the Shrine of Saint John Baptist de La Salle.

Alveo has also already developed two residential communities in Broadfield; Venido and Aveia just across it.

Venido is a 22-hectare residential community currently being constructed. Meantime, Aveia’s initial phases started turnover this year.

Phase 1 of Broadfield is expected to be completed by 2023, at which the commercial buildings can start constructing.

October 17, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 254.46 6.77% -0.44% -0.07% 0.9% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5033 10.01% 3.37% 0.71% 4.34% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.912 5.63% -1.81% -1.55% 0.23% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9497 10.66% N.A. N.A. 5.41% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8653 10.05% N.A. N.A. 5.43% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4208 10.66% 1.32% 0.45% 2.8% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8693 10.82% -2.95% N.A. 3.9% MBG EQUITY INVESTMENT FUND, INC. -A 115.02 4.73% N.A. N.A. -0.99% PAMI EQUITY INDEX FUND, INC. -A 52.0445 12.51% 1.8% N.A. 5.73% PHILAM STRATEGIC GROWTH FUND, INC. -A 540.35 12.08% 0.65% 0.32% 4.98% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3066 9.35% 1.64% 1.61% 4.19% PHILEQUITY FUND, INC. -A 38.4672 10.7% 2.5% 1.47% 5.01% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0356 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2902 13.82% 2.58% 2.39% 6.68% PHILIPPINE STOCK INDEX FUND CORP. -A 883.3 13.84% 2.48% 2.34% 6.62% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.8994 11.35% 0.82% N.A. 4.58% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2794 11.43% 2.11% 1.64% 5.43% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0146 13.38% 2.37% N.A. 6.32% UNITED FUND, INC. -A 3.7176 12.24% 3.84% 2.94% 6.19% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 118.4304 14.11% 3.24% 3.38% 6.94% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9654 2.81% 2.64% -0.35% 3.91% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2971 6.46% 8.11% N.A. 17.36% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6038 0.77% -3.01% -3.25% -2.87% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2682 6.48% -0.62% -0.17% 2.67% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6539 9.44% 1.48% -1.05% 4.36% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,8 0.2355 N.A. N.A. N.A. N.A. GREPALIFE BALANCED FUND CORPORATION -A 1.3468 6.4% N.A. N.A. 3.26% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9633 10.47% 1.74% 1.39% 6.52% PAMI HORIZON FUND, INC. -A 3.7941 13.12% 0.64% 0.62% 7.5% PHILAM FUND, INC. -A 17.001 12.58% 0.69% 0.55% 6.87% SOLIDARITAS FUND, INC. -A 2.1479 7.63% 1.17% 1.49% 3.8% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8875 10.55% 1.63% 1.25% 6.47% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0208 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0082 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0052 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9858 10.15% 1.19% 0.9% 6.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03839 10.83% 2.35% 2.26% 8.75% PAMI ASIA BALANCED FUND, INC. -A $0.9889 5.9% 2.38% 0.13% 8.23% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7587 6.45% 5.83% 3.99% 13.6% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1077 5.66% 3.33% N.A. 9.67% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 355.04 4.02% 2.45% 2.27% 3.37% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9198 3.66% 0.19% -0.09% 3.26% COCOLIFE FIXED INCOME FUND, INC. -A 3.0898 5.02% 5.27% 5.23% 3.82% EKKLESIA MUTUAL FUND INC. -A 2.2109 4.48% 1.55% 1.94% 3.84% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3393 5.79% 1.6% 1.5% 6.09% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6088 2.31% -0.64% -0.03% 2.84% PHILAM BOND FUND, INC. -A 4.3183 14.8% 1.17% 1.7% 10.17% PHILEQUITY PESO BOND FUND, INC. -A 3.7438 8.4% 1.97% 1.5% 6.45% SOLDIVO BOND FUND, INC. -A 0.9526 9.57% 0.22% N.A. 6.89% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0358 10.42% 2.82% 2.42% 9.76% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6808 9.87% 2.32% 2.01% 9.15% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $466.13 4.57% 2.07% 2.84% 3.95% ALFM EURO BOND FUND, INC. -A Є220.14 3.29% 1.34% 1.47% 3.51% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.203 7.34% 2.27% 2.51% 6.87% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 4.03% 1.06% 1.54% 4.03% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7141 1.43% -1.44% 0.35% 1.41% PAMI GLOBAL BOND FUND, INC -A $1.0969 7.06% -0.05% -1.36% 5.85% PHILAM DOLLAR BOND FUND, INC. -A $2.4108 12.93% 2.21% 3.32% 11.06% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0602747 5.99% 2.06% 2.07% 5.75% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1728 10.22% 1.58% 2.81% 10.47% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.95 4.21% 2.68% 2.1% 3.37% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0243 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2429 6.06% 2.42% 1.51% 5.16% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.257 3.87% 2.82% 2.22% 3.1% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0338 2.17% N.A. N.A. 1.76%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 - LAUNCH DATE IS JANUARY 3, 2019.

4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

7 - LAUNCH DATE IS AUGUST 1, 2019. 8 - LAUNCH DATE IS SEPTEMBER 28, 2019.

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Offer period for Asia United Bank’s maiden bond issue commences

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UBLICLY listed Asia United Bank Corp. (AUB) offers to the public its maiden threeyear Philippine peso-denominated SEC-registration exempt bonds with a fixed rate of 4.625 percent per annum starting October 16, 2019, until October 30, 2019.

The bonds are targeted to be listed on the Philippine Dealing Exchange on November 7.

The AUB bonds are considered a solid investment due to the bank’s focused growth strategy, innovative systems, robust financial standing and sound funding profile driven

by an effective management team.

“With the bank’s history of steady growth and robust financial performance, supported by tailored and innovative customer touchpoints, the AUB bonds will definitely bring more value to our investors’ investment portfolio,” AUB President Manuel A. Gomez said.

Interested investors may inquire at any AUB branch in more than 200 locations nationwide or through any of the following selling agents: China Bank Capital Corp., First Metro Investment Corp. and Amalgamated Investment Bancorp.

Customs bureau forms unit to audit offices, PHL’s ports

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HE Bureau of Customs (BOC) has announced that it launched an interim unit that will audit its offices and ports aimed at strengthening the agency’s efficiency.

In line with BOC’s 10-point priority program, the Interim Internal Quality Management System Office (IIQMSO) was established earlier in May to conduct internal audits of the agency’s various groups, offices and ports, check the assets and resources, finances and documentations, performance and compliance of all offices to the bureau and other government policies and laws.

It also seeks to ensure the continuity and success of the International Organization for Standardization (ISO) 9001 Quality Management System activities in the Bureau.

The agency’s TPPP includes the following: enhancement of the BoC’s information and technology system; filling up of vacant plantilla positions; provision of incentives for Customs employees; restructuring of the agency’s organization; enhancement of cargo clearance

and examination capabilities; enhancement of intelligence and enforcement capabilities; codification and harmonization of IRRs; creation of a quality management system and integrity; and pursuing the passage of Customs-related legislative measures.

Since its creation, the IIQMSO has successfully audited and shared the best practices of the ports of Limay, Cebu, Subic and San Fernando, La Union, including their respective subports.

Notable achievement of the team, through collaboration and compliance of several Customs officials and personnel, is the recommendation for the two subports, Mactan and Dumaguete, to undergo ISO 9001:2015 Quality Management System Certification, according to the agency.

The BOC said that before the year ends, it will complete the audit engagement for the following ports and their sub-ports: Port of Clark, Port of Davao, Port of Manila and Port of Cagayan de Oro. The Customs bureau said the IIQMSO is already preparing their plans for the year 2020. Jove Moya

BSP cuts boost RCBC’s bet on consumer loan biz growth

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By Bianca Cuaresma

@BcuaresmaBM

IZAL Commercial Banking Corp. (RCBC) expressed confidence that it will be able to grow its consumer loan business this year amid the low interest rate environment following the recent rate cuts made by the Bangko Sentral ng Pilipinas (BSP).

Rommel Latinazo, head of RCBC’s consumer loans, said in a news briefing on Thursday that the lower interest rates will not be a hindrance

to their goal to strongly grow their consumer loan portfolio as demand will likely surge among financial consumers.

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‘Increasingly concerned’

SOME hedge fund managers “are increasingly concerned they could face similar calls for redemptions,” said Jeon Kyung-dae, chief investment officer for equities at Macquarie Investment Management Korea. “People have started to look at all kinds of private funds with suspicion.”

The turmoil at Lime, which oversees about $4 billion, is the latest in a series of fund crises that have put a spotlight on the dangers of investing in illiquid assets.

Woodford said this week that he would close his investment firm after bets on small-cap stocks and unlisted companies left him unable to pay back investors who wanted out. Swiss money manager GAM Holding AG last year froze funds tied to Tim Haywood after the former star bond investor was suspended and was unable to meet ensuing redemption requests.

I

LOADING UP Parañaque City—The Philippine National Bank

launched its latest product offering, the PNB-PAL Mabuhay Miles Prepaid Mastercard, during an event last October 8. It is a reloadable card that lets one purchase online or at any Mastercard -and Maestro-accredited merchant worldwide and earn reward points that can be converted to Mabuhay Miles. It is also a multi-currency wallet that protects one’s money from currency fluctuations. The card also allows one to enjoy the convenience of not having to look for a money changer when it’s use overseas. Leading the product launch were (from left): PNB Senior Vice President and Cards Banking Solutions Group Head Christian Eugene S. Quiros; PAL Assistant Vice President for Loyalty Mayette T. Casanova; PNB Executive Vice President and Retail Banking Sector Head Bernie H. Tocmo; and, Mastercard Philippines Country Manager Rowell Del Fierro.

A common denominator at all three firms was the mismatch between the liquidity of their funds and that of the securities they owned.

Lime’s problems began in July, when Korean media started reporting that prosecutors and regulators had launched investigations into the firm related to several aspects of its trading and investing practices. Lime refuted the allegations in a statement posted July 24. On Monday, it confirmed the existence of an investigation but declined to comment further.

Considered reasonable

SOME Lime funds that invested in convertible bonds allowed clients (mostly wealthy individuals) to withdraw money once a month. But as the redemption requests piled up, the firm was unable to liquidate its bond holdings at prices it considered reasonable. Converting the securities into more widely traded shares was also seen as an unattractive option because equity values on Korea’s small-cap KOSDAQ market have dropped about 30 percent from a high in January 2018.

Out of the total assets, Lime has invested about 400 billion won in convertibles and bonds with warrants, according to Lee Jongpil, chief investment officer at the firm on Monday. The hedge fund aims to liquidate most of those securities within the next two years, Lee said.

“The biggest problem for Lime was it invested in illiquid assets in an open-type fund that allowed investors to withdraw when they want,” said Kim Pil-kyu, a senior research fellow at Korea Capital Market Institute. “Lime itself is in a serious crisis,” he said. “It is a question of whether it can continue its asset management business or not.”

Calls to Lime seeking comment on its business prospects went unanswered.

‘Lacks oversight’

For this year, the Central Bank let out a series of interest rate cuts to a total of 75 basis points to its overnight repurchase rate. This, the Monetary Board said, is in line with their expectations of falling inflation and the need for support in the country’s ailing growth numbers.

“We’d like to look at it positively,” Latinazo said. “That would attract more business and customers will be encouraged to more resort to borrowings for consumer financing needs.”

Last year, RCBC grew its consumer loan portfolio by 14 percent. Latinazo said they are looking to sustain this double-digit growth with an “extra push” to exceed current growth rates as per the directive of their new president.

The long-term goal for RCBC

is for consumer loans and small and medium enterprise loans to comprise 50 percent of their loan portfolio.

Latinazo said one of their key strategies to continue organically growing their consumer loan portfolio is to increase efficiency of the process of how loans are availed.

The bank believes this could be achieved by investing in technology.

The bank, according to the RCBC senior official, will look to increase efficiency in approval processes and collection side.

“Because it is expanding and unlike corporate loans, what we have are big ticket counts rather than amounts. So efficiency is very important,” Latinazo said. “It will require a lot of automation.”

Building a MICE metropolis: The Chengdu way

Contagion fears in Korea begin after hedge fund’s liquidity crisis RUN on South Korea’s biggest hedge fund is stoking contagion fears as investors in Asia’s fourth-biggest economy rapidly reassess the risk of owning hard-totrade assets.

In an echo of the liquidity crunch that caused the stunning downfall of British investor Neil Woodford, Seoul-based Lime Asset Management Co. last week began freezing withdrawals from $710 million of funds that owned convertible bonds of small Korean companies.

Clients asked to pull their cash amid reports of alleged wrongdoing at Lime, but the firm said it couldn’t sell its holdings fast enough to meet the redemption requests.

The worry now is that Lime’s crisis will spook investors in other hedge funds, triggering a flood of outflows that ripples through Korean markets.

The country’s financial regulator has said it will take steps to prevent market contagion, but signs of an exodus are already cropping up.

Investors pulled about 400 billion won ($337 million) from hedge funds in September, the first net outflow this year, according to NH Investment and Securities Co. It’s unclear how much of that came from Lime.

Friday, October 18, 2019 B3

WHILE the situation at Lime has echoes in other countries, it also has uniquely Korean characteristics. Sales of convertible bonds, which pay low coupons but let investors swap into shares,

have surged in the country thanks in part to support from the government. Policy-makers have promoted the market as an important source of funding for start-ups, which often struggle to issue traditional debt.

The hybrid securities, worth an estimated $11 billion in April, were mainly bought by homegrown hedge funds, which have proliferated in recent years after the government relaxed regulations. The industry now manages more than $29 billion, up from close to zero in 2012.

Financial Services Commission Chairman Eun Sung-soo told reporters on October 10 that regulators will continue to monitor the situation at Lime and “will handle the issue to ensure that it doesn’t become a factor to disturb the market.”

For Macquarie’s Jeon, the crux of the problem is that the convertible bond market has expanded too quickly and lacks appropriate oversight.

“The market has grown so fast, and we didn’t have detailed regulations on it and brokers sold this hard-to-understand product recklessly,” Jeon said, adding that convertible bonds have attractive features and are performing well for some hedge funds. The Lime case could be an opportunity to improve the market, he said.

Others are less optimistic.

“Because of the situation at Lime, the entire convertible bond market could be frozen,” said Han Byung-hwa, an analyst at Eugene Investment and Securities Co. Bloomberg News

N my September 20, and promoting MICE en2019, column, “Chengterprise development and du: Up the Pinnacle of expansion: Designated by MICE Success,” I talked the Unesco as a “world city Association World of gastronomy,” Chengdu about my experience as part of a small group of is also one of the key highOctavio Peralta international guests to tech industrial bases, comChengdu, the capital of merce and logistics centers, southwest China’s Sichuan province that, and integrated transportation hubs in Chiin a relatively short time, became one of the na. Expos on candy, wine, pharmacy, beauty top 10 destinations in Asia and the Pacific products, cars, among other businesses, are for meetings, incentives, conventions and held in Chengdu every year. exhibitions. Now let me share how the city n Promoting MICE business innovahas holistically done it and, perhaps, serve tion and quality service: The government as a model for other cities to follow should provides strong support to investors who they wish to also boost their MICE industry. put money into Chengdu’s MICE industry, In his presentation on September 5 as well as providing tourism services and during the China International Meetings promotional campaigns. Most of the known Development Conference-Chengdu (CIMfive-star international hotel chains have DC-Chengdu 2019), Chen Fu, chairman of presence in the city, improving local capacithe Chengdu Municipal Bureau of Exposities for service quality and innovation. tion and China Council for the Promotion n Boosting international image by comof International Trade Chengdu Council, municating the Chengdu story: This is done outlined these six approaches in building by participating in international MICE expos Chengdu as an international metropolis for and trade shows and organizing MICE-related the MICE industry: conferences and B2B meetings. The governn Integrating infrastructure and inment also partnered with the city’s leading dustry development with culture, comuniversities and colleges to enhance commerce, tourism and sports: This has already munication with international conference spawned the construction of a second airand exhibition organizers, and invite them port, the new Tianfu International Airport to host international events in Chengdu. within the Tianfu CBD, a new development n Forming a strong team of MICE talarea; the Tianfu agriculture expo center; the ents: The city does this through professional East Railway Station Hub economic zone; training programs and a holistic coordinathe Anren cultural and creative zone; and tion mechanism among government, unithe Li Bing cultural, creative and tourism versities, enterprises and associations. zone, among others. n Attracting influential MICE events The column contributor, Octavio “Bobby” Peralta, is concurwith global vision and international stanrently the secretary-general of the Association of Development dards: Chengdu in 2018 has already hosted Financing Institutions in Asia and the Pacific and the CEO and 689 major events, of which 163 were infounder of the Philippine Council of Associations and Associaternational ones. A total of 10.27 million tion Executives. The PCAAE is holding the Associations Summit exhibition areas were used in these events 7 on November 27 and 28, 2019, at the Philippine Internathat drew 106 million participants and nettional Convention Center, which is expected to draw over 200 ted RMB 109.19 billion ($15.34 billion) in association professionals here and abroad. The two-day event revenues. is supported by ADFIAP, the Tourism Promotions Board and the n Optimizing business environment PICC. E-mail inquiries@adfiap.org for more details on AS7.

B4 Friday, October 18, 2019

G2E Asia @ the Philippines 2019 launches new opportunity for the Asean Gaming Markets

Conrad Manila recognized as one of the "Best Hotels in the World”

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ONRAD Manila, the premier haven for smart luxury by Manila Bay, was recently recognized by Conde Nast Traveler in its annual Reader’s Choice Awards as one of the ‘Best Hotels in the World,’ ranking 3rd in Asia and 46th overall.

“We are humbled by the global recognition of Conde Nast Traveler’s readers and our loyal guests who we have been inspired by our team’s commitment and dedication in providing intuitive service and infinite connections in a world of style,” shared Laurent Boisdon, Conrad Manila General Manager.

Conrad Manila’s most eminent features are its 347 well-appointed guest rooms and suites, award-winning dining outlets China Blue by Jereme Leung and Brasserie on 3, the famed Conrad Spa, among others -- all complemented by stunning views of the Manila Bay. The Hotel is owned by SM Hotels and Conventions Corporation, a subsidiary of SM Investment Corporation and managed by Hilton Worldwide. It is strategically located in the heart of the bustling Mall of Asia complex, and a few minutes away from both international and domestic airports through the NAIA Expressway.

In a statement released by Conde Nast Traveler: “More than 600,000 Conde Nast Traveler readers across the globe submitted a record-breaking number of responses rating their travel experiences to provide

a full snapshot of where and how we travel today.”

The Conde Nast Traveler Readers’ Choice Awards is recognized as the longest running and most prestigious recognition of excellence in the travel industry. The 2019 Readers’ Choice Awards is published on Conde Nast Traveler’s website at www. cntraveler.com/rca and celebrated in the November issue of Conde Nast Traveler US and UK print editions.

Conrad Manila is also a proud recipient of the prestigious LEED Gold-Certification

from the U.S. Green Building Council (USGBC) and recognized by the ASEAN (Association of Southeast Asian Nations) as the 2018 winner for Green Hotel and MICE (Meetings, Incentives, Conventions and Exhibitions) Hotel.

Please visit www.conradhotels.com/ manila or call +63 2 8833 9999 to learn more about or to connect with Conrad Manila. Follow us at www.facebook. com/ConradManilaPh, www.instagram. com/ConradManila, https://twitter.com/ ConradManila.

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inviting students and professionals, beginners and veterans from the Philippines to join this prestigious global hackathon by NASA," software developer Michael Lance M. Domagas said, who is currently leading the hackathon since 2016. "In fact, a Pinoy team winning globally last year makes Filipinos inspired to use these technologies in helping the society we live in, especially now that a law has been passed creating the Philippine Space Agency," he added.

The Pinoy winning team who developed an app seeking to use scientific data to benefit fishermen, even without Internet connection, is being incubated at Animo Labs, the technology business incubator of De La Salle University in partnership with DOSTPhilippine Council for Industry, Energy and Emerging Technology Research and Development. "Animo Labs looks forward to see these kinds of projects being developed by Filipinos with the help of NASA data and resources, and we are happy to host it again at De La Salle University," Animo Labs Executive Director Federico C. Gonzalez said.

For more information, please contact nasaspaceappsph@gmail.com

'Lolo Cheng: Justice Jose Maria Valera Paredes' launched

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OSE "Joey" P. Leviste, Jr. launched his fifth book entitled Lolo Cheng: Justice Jose Maria Valera Paredes on October 4, 2019 at the Judiciary Memorabilia Hall of the Old Supreme Court Building in Manila. The guest-of-honor for the book launch was Supreme Court Chief Justice Lucas P. Bersamin, who also wrote the Foreword. In photo with the author and the Chief Justice are the CJ's wife, Mrs. Aurora Bagares Bersamin and Atty. Jose D. Leviste III, who introduced his father.

The event was attended by members of the Paredes clan and friends of the author many of whom are

brand awareness. The conference program will provide visitors an industry-exclusive education lineup featuring renowned leaders and influencers, centering around the themes of “ASEAN Market Perspectives: Opportunities and Threats” and “Beyond Gaming.”

G2E Asia @ the Philippines will offer ample networking opportunities with gaming operators in the Philippines and neighboring emerging ASEAN markets. This year’s offerings also include: The Gaming Executives’ Reception is an invitation-only cocktail event for the industry’s most prominent stakeholders, offering senior executive networking opportunities and brand exposure at the highest level.

BE A “PLUS” TO HUMANITY. On top of their Php500,000 outright donation to Habitat Philippines, Robinsons Handyman pledges to help raise awareness and funds for the organization via a donation drive with Habitat acrylic boxes and ‘Plus Cans’ located across 40 Handyman outlets in Metro Manila. The "Plus Can" symbolizing that everyone can be a “plus”to humanity by every coin he or she donates. Launching the partnership are, from left: Robinsons Retail Holdings, Inc. Handyman General Manager Stanley Co, Habitat Philippines Resource Development and Communications Director Jamie Santos-Sugay, President and CEO Wilfred Co, and Vice President and COO Wayne Coherco.

DLSU hosts NASA International Space Apps Challenge hackathon OW in its 8th year, Space Apps is an international hackathon for coders, scientists, designers, storytellers, makers, builders, technologists, and others in cities around the world, where teams engage with NASA’s free and open data to address real-world problems on Earth and in space.

Space Apps 2018 included over 18,000 participants at more than 200 events in 75 countries.

Since its inception in 2012, NASA’s International Space Apps Challenge has become the world’s largest global hackathon, engaging thousands of citizens across the globe to use NASA’s open data to build innovative solutions to challenges we face on Earth and in space.

The NASA International Space Apps Challenge (or Space Apps) is an international hackathon that will take place over a 48-hour period in cities around the globe between October 18 and 20, 2019. The event embraces collaborative problem solving with a goal of producing open-source solutions to challenges we currently face on Earth and in space.

In the Philippines, it is the fourth time for this event to take place again in Manila on October 18 to 20, 2019.

"I am thrilled and excited to continue the tradition of

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2E Asia @ the Philippines 2019, the newest addition to the Global Gaming Expo (G2E) Asia series of events, makes its official debut on December 3-4, 2019 at the Manila Marriott Hotel. The Philippines show is supported by the Philippine Amusement and Gaming Corporation (PAGCOR) and will comprise of an expo, educational conference, and networking opportunities.

“We’re excited to expand the G2E Asia brand with this new expo in the Philippines, bringing new opportunities for growth and innovation to the Association of Southeast Asian Nations (ASEAN) emerging markets, including the Philippines, Singapore, Thailand, Malaysia, and Indonesia, gaming-entertainment industry,” said Josephine Lee, chief operating officer of Reed Exhibitions Greater China.

PAGCOR Chairman and CEO Andrea Domingo added, “It is an honor for the Philippines to host this globally renowned event as it reflects the region’s exciting and upward growth in gaming and entertainment, while supporting our work to preserve the integrity of the industry.”

Featuring nearly 100 exhibitors and sponsors, G2E Asia @ the Philippines 2019 will offer exhibitors an effective platform to grow

themselves legal luminaries. The book chronicles the inspiring story of Justice Jose Mari Paredes from his happy childhood in the province of Abra to his outstanding work in the Judiciary, all the way to the Supreme Court; from his valuable contributions to the framing of the 1971 Philippine Constitution to his leadership in various national organizations.

Justice Paredes showed how a life dedicated to principles, integrity, and excellence could have a lasting impact on other people's lives, even for many generations to come. Leviste is the eldest grandchild of Justice Paredes.

Sports

NETS STEER CLEAR OF CHINA CONTROVERSY

BusinessMirror

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EW YORK—The Brooklyn Nets played well and ate great on their trip to China.

That was the tenor of their comments Wednesday after their first practice back home, downplaying the impact the ongoing international tension between the National Basketball Association (NBA) and China had on them.

The Nets steered clear of any statements like those of LeBron James that could have further inflamed the situation. Players say they were not rattled by the turbulence they faced during their two exhibition games against the Los Angeles Lakers last week, which came as the NBA dealt with the fallout from Rockets General Manager Daryl Morey’s now-deleted tweet in support for anti-government protesters in Hong Kong.

Joe Harris was just in China last month for the Basketball World Cup and said this trip wasn’t much different.

“To be honest, you know there’s a lot of stuff going on but the atmosphere was really very similar to what it was during the World Cup,” Harris said. “The fans were extremely passionate. They love the game. They still sold out both games, so take out everything that was actually going on it really felt like almost exactly the same.”

It was hard to ignore everything, with Chinese and NBA officials canceling events and news conferences, and advertising and local television coverage for the games in Shanghai and Shenzhen removed.

“At the end of the day, we’re human and we see those things, so we just tried to stick together as much as we could,” guard Caris LeVert said.

The Nets who did speak to reporters—Kyrie Irving wasn’t among them—said they hadn’t seen Morey’s tweet and couldn’t recall when they learned of it. Both teams met with NBA Commissioner Adam Silver shortly after arriving, where Harris said the commissioner outlined what was happening.

“It’s not like he was standing in front of everybody and making some, like, dramatic commentary,” Harris said. “He was basically describing what we already knew was going on.”

Irving spoke up in the meeting, but Harris said those remarks were not political but rather related mostly to basketball.

“It was more just focusing on trying to get ready for the games,” Harris said.

Harris said one of his community events, a visit with children at a play area, still went on. So did the team functions planned by new owner Joe Tsai, the cofounder of Chinese e-commerce giant Alibaba.

Tsai posted a lengthy letter to fans on Facebook following Morey’s tweet, which Harris said the owner encouraged the players to read. He was around the team during the week getting the know players and staff.

He made a good impression with his dinners, which Harris indicated were even better than Gregg Popovich’s while playing for the US. “I mean Pop had a lot of good dinners and stuff planned when we were out there too,” Harris said, “but I’d say Joe Tsai is probably a little more familiar with some of the dining establishments in Shanghai and Shenzhen.” AP

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| Friday, October 18, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

He’s still one of the greatest basketball players ever, that hasn’t changed. But in the space of just a few sentences Monday night, LeBron James may have abdicated his spot as someone who should be listened carefully to when it comes to social issues.

By Tim Dahlberg

The Associated Press

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EBRON JAMES had time, and plenty of it, to figure out how best to answer the questions he knew were coming. Long days in hotel rooms in China and a long flight home gave him every chance to carefully craft a response to a controversy he had no part in making but one that directly affects

LEBRON AND HIS BIG MOUTH

DEMONSTRATORS hold up photos of LeBron James grimacing during a rally at the Southorn Playground in Hong Kong. AP

his bank account.

Instead, James chose to wing it.

He blamed the messenger instead of addressing the message.

And the LeBron brand may never be the same.

He’s still one of the greatest basketball players ever, that hasn’t changed. But in the space of just a few sentences Monday night James may have abdicated his spot as someone who should be listened carefully to when it comes to social issues.

No one was asking James to come out in support of protesters in Hong Kong. That was always a bridge too far for a player who makes millions in the lucrative Chinese market.

But a player who has always prided himself on speaking out on issues ranging from Trayvon Martin to Colin Kaepernick should have made sure in this instance that he was speaking out the strongest in support of free speech.

BROOKLYN Nets’ players arrive for a match against Los Angeles Lakers at the NBA China Games 2019 in Shenzhen in South China’s Guangdong province on October 12. AP

James didn’t, at least when it comes to Houston Rockets General Manager Daryl Morey and the firestorm Morey set off with his tweet in support of Hong Kong protesters.

In his first comments since returning from China, James cast Morey as being “either misinformed or not really educated on the situation” in Hong Kong and not understanding how many people in the NBA could be affected by his tweet.

While James mentioned free speech, in his bungled attempt to chastise Morey what people heard was human rights are great. But don’t let them get in the way of the NBA’s China cash cow.

The words were clumsy, almost as if James himself was misinformed or not really educated on the situation.

Seemingly realizing that, James followed them with a pair of tweets that did little other than rile up people even further on social media.

He also riled up some protesters in Hong Kong, where on Tuesday some were seen stomping on—and in one case—burning his jersey.

Not exactly the way James wanted to start the National Basketball Association (NBA) season.

Up until a few days ago, the biggest thing James had to worry about was meshing with new teammate Anthony Davis and finding a way for his Los Angeles Lakers to beat the Golden State Warriors.

Now he’s under fire from both sides in a dispute he had no part in making, but one where he will pay a price—and not just in endorsement opportunities in China.

No one expects James to be an expert on the dispute in Hong Kong, where protesters are chafing under increased Chinese control. But they should expect him to do what NBA Commissioner Adam Silver did last week in China—acknowledge that everyone doesn’t look at things the same but that everyone has the right to express their opinion and just leave it at that.

Those opinions were hard to find across the NBA on Tuesday, a week before the opening of the 2019 season. That was especially true in Houston where Morey has yet to resurface, and players like James Harden and Tyson Chandler joined Coach Mike D’Antoni in either declining comment or saying basically nothing.

Even Steve Kerr, the Warriors coach who has an opinion on most issues of the day and seems to relish sparring with President Donald J. Trump, is keeping relatively quiet.

Kerr demurred last week when asked whether he thought Morey was wrong in sending out the tweet, saying instead that basketball “should be a force for the greater good.”

That earned Kerr a tweet from Trump, who said it was “So funny to watch Steve Kerr grovel and pander when asked a simple question about China.”

Indeed, James is not the only one caught in a heated dispute where middle ground will be hard—if not impossible—to find. He’s not the only one who stands to lose money—and a lot of it—should the damage to a relationship carefully cultivated over three decades be undone by a Friday night tweet.

He’s got a right to market himself in China without getting involved in the country’s internal politics, and that’s fine. Few begrudge James his millions, and few—at least on this side of the world—are particularly interested in what he thinks about the relationship Hong Kong has with China.

Words matter, though, and so does the right to voice them. Free speech may be an empty concept in China, but it’s the very bedrock of democracy in the United States.

Like a lot of us, James is lucky to live in a country where that right is a given.

Hopefully, he’ll be thinking more about that the next time he speaks up.

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Business

Friday, October 18, 2019

Ramirez: Rehabilitation of PSC facilities part of master plan

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PRUCING up of government sports facilities are on track and will be available for use even before the country’s hosting of the 30th Southeast Asian Games.

Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez is satisfied with the pace of the development projects ordered by President Duterte, which involved the Philippine Amusements and Gaming Corp. and the National Historical Institute.

Ramirez said other sports facilities all around the country will also be refurbished in the future, adding that the rehabilitation of the Rizal Memorial Sports Complex in Manila, the PhilSports Complex in Pasig and the Teachers’ Camp in Baguio have long been listed

as Duterte’s priority projects even before the country made sure of its commitment to host the 30th SEA Games.

“The President is also a sportsman. He played basketball, rides bikes, shoots, swims and many more,” Ramirez said. “Sports is among his priorities when he was elected President of the republic and his marching order to the PSC was to rehabilitate sports venues to benefit our athletes.”

“These rehabilitation projects have been in the pipeline of President Duterte’s primary concerns when he agreed to seek the presidency before a small group of loyal supporters in Davao City. He said ‘let us prioritize the athletes,’ and this is it. It has always been part of the master plan,” Ramirez said.

SEN. Christopher “Bong” Go (standing, sixth from left) and House Speaker Alan Peter Cayetano (standing, eighth from left) pose with athletes at the International Association of Athletics Federation-certified New Clark City Athletics Stadium. With them are other members of the House Committee on Youth and Sports Development (standing from left) Rep. Jose “Bong” Teves Jr., Capas Mayor Reynaldo Catacutan, MTD Clark Inc. Chairman Isaac David, Philippine Olympic Committee President Rep. Abraham Tolentino, Rep. Antonio “Tonypet” Albano, Rep. Carlos Cari, Bases Conversion and Development Authority President and CEO Vince Dizon, Philippine Athletics Track and Field Association Inc. Secretary-General Agapito Capistrano, MTD Clark Inc. President Engr. Patrick Nicholas David, Rep. Argel Cabatbat, Rep. Irene Saulog, Rep. Faustino Michael Dy (seated right) and Rep. Anthony Peter “Onyx” Crisologo (seated, third from left).

GO IMPRESSED BY N.C.C. E

XCITEMENT stirs up as the worldclass New Clark City sports complex shows the country’s readiness to host the upcoming 30th Southeast Asian Games.

This was evident during the site visit of Sen. Christopher “Bong” Go, House Speaker Alan Peter Cayetano who is also the chairman of the Philippine SEA Games Organizing Committee (Phisgoc) and members of the House of Representatives’ Committee on Youth and Sports

Development in New Clark City in Capas, Tarlac.

“With these state-of-the-art facilities, we can show the athletes and guests from our neighboring countries that the Philippines is more than capable of hosting international sports events,” Go said.

Go added that through the New Clark City development, national athletes will have “easy access to world-class sports facilities and, therefore, be able to develop their full potential, [and] winning in international sports

competitions will be a regular achievement for Filipino athletes in the years to come.”

Built within 18 months since it broke ground in January 2018, Phase 1A of the New Clark City National Government Administrative Center is now 99 percent complete.

The sports facilities, which include the 20,000-seater Athletics Stadium has been certified as a Class 1 Athletics Facility by the International Association of Athletics Federations.

This means that the stadium meets the global

standards for international competition facilities, along with the 2,000-seater Aquatics Center that is accredited by the Federation Internationale De Natation (Fina).

“We are so inspired by the facilities because [these] prove the point of our athletes that with more support, we can have a world-class sports program,” Cayetano said.

“Our athletes and advocates of sports have been so persistent, asking us to support more.

Yes, we have steadily increased the amount we

give to medalists but many times have the coaches, the parents, and the teachers in our elementary and high schools told us ‘we need a grassroots program,’” Cayetano added.

Bases Conversion and Development Authority President and CEO Vince Dizon thanked Go and Cayetano for their initiatives to have modern training facilities for national athletes—a proposal from which the New Clark City sports complex was brought to life.

The legislators also visited the proposed site of the Philippine High School for Sports which will serve as the training ground of future national athletes. Construction for the said school will start in 2021.

“This is proof that the Duterte administration is faithful and serious in its promise of building the best facilities for Filipinos, especially to

our athletes who bring pride and glory to our country in their competitions,” Dizon said.

Other officials present in the event were Ambassadors Jose Gaspar Piedade of Timor Leste, Ly Quoc Tuan of Vietnam and Hajah Johariah binti Haji Abdul Wahab of Brunei Darussalam, Tarlac Second District Rep. Victor Yap, Tarlac Gov. Susan Yap, Capas Mayor Reynaldo Catacutan, Pampanga Gov. Dennis “Delta” Pineda, Pampanga Vice Gov. Lilia Pineda, Philippine Olympic Committee President Rep. Abraham Tolentino, Philippine Sports Commission Commissioners Celia Kiram and Arnold Agustin, Phisgoc Chief Operating Officer Ramon Suzara, Government Service Insurance System Chairman and concurrent acting President and General Manager Rolando Macasaet, MTD Clark Inc. Chairman Isaac David and President Engr.

Patrick Nicholas David.

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sMirror

Friday, October 18, 2019 C3

WORLD CHAMPS BUSY AS A BEE

DPWH rushes work on access road to PHL Arena

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HE Department of Public Works and Highways (DPWH) has ordered to “rush” the completion of the Ciudad de Victoria Interchange Overpass Bridge and Bypass Road to provide critical access for the Southeast Asian Games next month.

Public Works Secretary Mark Villar stressed on the importance of the completion of the two segments of the North Luzon Expressway as they will provide direct access to the Philippine Arena, site of the Games Opening Ceremony.

“Huge turnout of visitors are expected at the opening ceremony of the biennial regional multisport event on November 30,“ he said.

Villar said that he is confident that the two critical segments will be completed in time for the Games, as construction works are already round-the-clock.

So far, the department has installed all girders for the 80 lineal meters of overpass bridge. It is currently finishing work for the 1.12-kilometer, four-lane bypass road connecting the Manila North Road and the Santa Maria to Bocaue Bypass Road.

The government is spending P260.8 million to build the Ciudad de Victoria Interchange Overpass, which is expected to “address the usual heavy traffic situation and queuing of vehicles entering the Bocaue interchange.”

The second phase of the construction works for the Ciudad De Victoria Interchange Project involves the construction of the southbound acceleration and deceleration lanes for vehicles going to Philippine Arena.

Villar added that a 1.91-km road from MacArthur Highway to Bocaue Municipal will be improved and a 1.3-km road from the Philippine Arena to the existing Patubig Road in Marilao, Bulacan, will be constructed.

He added that the department is also building a south and north entry in Bocaue, Bulacan. This P79-million project involves the construction of three connecting ramps with a 20 meters average width.

Lorenz S. Marasigan

Knights grab No. 3 position in Final Four

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ETRAN toppled a huge first half deficit to foil Emilio Aguinaldo College (EAC), 87-79, and cement its hold of third spot in the Final Four on Wednesday in the National Collegiate Athletic Association seniors basketball tournament at the Filoil Flying V Centre in San Juan.

Larry Muyang scored a double-double of 22 points and 11 boards, and Jerrick Balanza tallied 20 points with four rebounds to power the Knights to their 12th win against six losses.

Trailing by 11 point at the half, the Knights’ veterans went on a scoring blitz in the third quarter to erase their double-digit deficit and took the lead, 56-55.

The Knights, who will make their second straight semifinals appearance, rallied from 19 points down in the first half to secure their spot in the semifinals.

Letran hopes for a better result this season after a forgettable Final Four duel with Lyceum of the Philippines University last year.

“It’s not how we started. It’s all about how we finish the season. That’s our challenge,” Knights Coach Bonnie Tan said.

Bonbon Batiller added 15 points and four assists, while Fran Yu had 10 points and four assists for the Knights.

The Generals, who ended the season with a 4-14 card, raced to a 38-19 advantage but lost steam in the second half.

Jethro Mendoza scored 26 points in his final game for EAC. Jay Ynot shot 18 points as San Beda overwhelmed Lyceum, 111-82, to cap its dominating juniors elimination round campaign with a 17-1 record.

Joshua Ramirez had a 18 points, eight rebounds and three assists as Letran ended its juniors campaign with an 8-10 record following a 92-74 romp of EAC. Ryniel Berlanga

By Ramon Rafael Bonilla

T WORLD gymnastics champion for men’s floor exercise Carlos Yulo (third from left) makes a courtesy call on Japanese Ambassador Koji Haneda (second from left) at his official Forbes Park residence on Thursday in Makati City. Joining them are (from left) Haneda’s wife Ihoko Haneda, Yulo’s Japanese Coach Munehiro Kugimiya and Gymnastics Association of the Philippines President Cynthia Carrion. NONOY LACZA

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HE world champions—gymnast Carlos Yulo and boxer Nesthy Petecio—are busy as a bee.

After arriving to a heroes’ welcome on Tuesday night and gracing a well-attended press conference in Manila, the champions were in Malacañang late Wednesday to present to President Duterte the gold medals they won in Germany and Russia, respectively, during the world championships for gymnastics and women’s boxing.

On Thursday afternoon, Yulo was in Forbes Park in Makati City at the Japanese Ambassador’s official residence this time to pay Ambassador Koji Haneda a courtesy call. He was accompanied by his Japanese Coach Munehiro Kugimiya and Gymnastics Association of the Philippines President Cynthia Carrion, along with Haneda’s wife Ihoko Haneda.

Espejo, HD Spikers make finals

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ARCK ESPEJO dished out 14 hits to power Cignal HD to a 25-15, 25-18, 25-17 repeat over University of Perpetual Help to clinch the first finals berth in the 2019 Spikers’Turf Open Conference at the Paco Arena in Manila recently.

The four-time MVP Espejo spiked his another solid performance with 11 kills and a pair of kill blocks, and 12 excellent receptions and six digs as the HD Spikers followed up their 25-17, 25-23, 25-15 victory in Game One to sweep their best-ofthree semis series.

The victory was also Cignal HD’s eighth straight.

Go for Gold-Air Force, meanwhile, banked on Ranran Abdilla to stop Sta. Elena-National U, 2624, 25-23, 19-25, 25-18, to force a sudden death in

their side of the Final Four.

Sta. Elena took the series’ opener, 25-20, 22-25, 25-23, 20-25, 15-8, but just couldn’t neutralize Abdilla in Game Two as the top Air Force hitter unloaded 15 attack points to finish with 18 markers, two kill blocks and an ace on top of 19 excellent receptions.

The HD Spikers, meanwhile, proved too tough to handle for the Altas although after two sets, the latter kept the game close in the third frame, only to fade in the face of the former’s strong finishing kick.

Down by one in the third set, Cignal went to Espejo, who combined with Wendel Miguel and Ysay Marasigan as the HD Spikers surged ahead at 16-12 before Alfred Valbuena and Al Pareja took over to finish off the Altas.

VELODROME TALKS UP Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino (right) discusses with International Cycling Union President David Lappartient the construction of a modern velodrome in the country on Thursday in Doha, Qatar. Tolentino, also the PhilCycling president, is in Doha for the XXIV Association of National Olympic Committees General Assembly that coincides with the World Beach Games.

AMERICAN, AUSSIE IN

CONTROL IN TARLAC A

MERICAN Lexus Keoninh unleashed superb iron play and solid putting and came away with a solid sevenunder 65 then watched Aussie Tim Stewart fumble with a late bogey to grab a share of the lead halfway through the International Container Terminal Services Inc. (ICTSI) Azucarera de Tarlac Open at Luisita Golf and Country Club in Tarlac on Thursday.

The duo virtually slugged it out shot-for-shot and putt-for-putt in separate flights in afternoon play with Keoninh emerging from the daylong battle in the heat and light wind with six birdies, including three straight from No. 11, to get to 10-under 134 first, including an opening 69.

“I hit it close and made a lot of putts,” said Keoninh, who has had a number of cracks at a championship on both the Philippine Golf Tour (PGT) and PGT Asia but just couldn’t pull it off in the end.

Two flights behind, Stewart had held sway with his own birdie-binge, seven in all against a lone bogey after 15 holes. But the long-hitting shotmaker, who placed second to Angelo Que in PGT Asia Manila Southwoods last July, bogeyed Luisita’s signature hole No. 17 and settled for a 67 and a share of the lead.

The duo stood three strokes ahead of PGT Cebu leg titlist Dutch Guido van der Valk and reigning Philippine Open champion Clyde Mondilla, who assembled identical 137s after a 68 and 70, respectively, not a big cushion on a tough, challenging course and over a slew of aces all primed up for an assault in the last two days of the $100,000 event serving as the sixth leg of the third season of the region’s emerging circuit put up by ICTSI. Mondilla, whose game took a downswing after nailing his first Philippine Open crown last April, failed to match his blistering opening 67

Ayo: Abando remains a Tiger IGH-FLYING forward Rhenz Abando remains in the Tigers’ den.

This was confirmed by University of Santo Tomas Head Coach Aldin Ayo after news rattled the España-based squad that its prized player is leaving the team.

Speaking to the Varsitarian, the official publication of the school, Ayo said “Abando will stay in UST” and that the La Union native “is here to play, study and establish his name in the UAAP [University Athletic Association of

President Duterte welcomed the Yulo and Petecio, along with pole vaulter EJ Obiena, weightlifter Hidilyn Diaz and boxer Eumir Felix Marcial during the athletes’ courtesy at the Palace.

Duterte gave Yulo and Petecio P1 million each for their world championships conquests. The bonus was an addition to the Philippine Sports Commission’s (PSC) cash reward of the same amount to the two champions which were already handed to them earlier.

Obiena received a bigger sum of P1.65 million from the PSC for his achievement at the World University Games and Asian Athletics Championships.

The President also gave P500,000 to Diaz, who won two bronze medals at the world championships in Thailand, and Marcial, who earned silver at the men’s world championships also in Russia.

The Siklab Foundation headed by Presidential Adviser on Sports Dennis Uy, also pledged a reward of P500,000 each for Yulo, Petecio and Obiena.

The MVP Sports Foundation, through patron Manny V. Pangilinan, rewarded Yulo and Petecio P1 million each.

On Thursday, Yulo visited his alma mater, Aurora A. Quezon Elementary School in San Andres in Manila, and delivered an inspirational message to the students. He later joined Obiena for a visit to Manila Mayor Isko Moreno.

the Philippines.]”

Ayo, the second-year coach of the Growling Tigers, admitted that there are rival teams that enticed Abando to leave UST. That left a bad taste to Ayo. “For me, that’s very unethical—in the middle of the season, offering to contact a player. It’s an insult to the player,” he said.

Still in his rookie year in the league, Abando turned heads with his averages of 11.8 points and five rebounds this season, partnering with

but scrambled just good enough for five birdies against two bogeys to stay within striking distance of the joint leaders.

As first round leader Ira Alido floundered with a disastrous backside start of 41 and limped with a 76 after a bogey-free 66, diminutive Rupert Zaragosa sneaked into the title picture with a 70 for joint fifth with Rufino Bayron, who also carded a two-under card, and American Brett Munson, who closed out with three straight birdies at the front to save a 72, for 139s.

Clubhouse leader Reymon Jaraula dropped to joint seventh at 140 after a 67 with Aussie Simon Viitakangas and Korean-American Micah Shin, who fired a 68 and 72, respectively.

The rest of the surviving 54-player cast, however, stood too far behind to pose a threat in the last two days of the third event cosanctioned

by Pilipinas Golf Tournament Inc. and Professional Golfers Association of Taiwan (TPGA) this year with Jhonnel Ababa, the winningest player on PGTA with four victories, hitting just one birdie for a 71 and 141 for joint 10th with Aussie Fidel Concepcion (72), Nilo Salahug (69) and Wang Wei-Lun, No. 5 in the current TPGA Order of Merit ranking, who also shot a 69.

Alido did recover with birdies on Nos. 3 and 5 but dropped another stroke on the sixth to fall to joint 14th with Kris Etter (72), Anthony Fernando (74), Gerald Rosales (73), Taiwanese Tseng Hong Sheng (72) and 2017 CAT Open winner Justin Quiban (72).

Fifty four players made the cut at 147

veterans Renzo Subido and Zach Huang to tow UST to a potential position of clinching a Final Four berth with a 6-5 win-loss record.

Abando was benched in the team’s 8478 win over University of the Philippines at the Mall of Asia Arena, a move Ayo revealed that it was the recruitment issue that forced him to sit his player.

“There are UAAP teams that will do everything to distract us. They’re going against us on and off the court,” Ayo said.

Abando is set to see action again on Saturday against the National University at the Ynares Sports Center in Antipolo City.

Ramon Rafael Bonilla

with last year’s champion James Ryan Lam barely advancing with a 74, along with Omar Dungca (75), Taiwan’s Hsieh MinHsuan (76), Hsu Li-Peng (74) and David Shen (74), Japanese Issei Mori (73), Emilio Parodi of Argentina (72), Aussie Jack Lane-Weston (72) and Fil-Am Sean Talmadge (74).

Among those who missed the cut in the event backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High were former PGTA leg winner Joenard Rates (73-148), multi-titled Elmer Salvador (74-148), Keanu Jahns (74-149) and former Masters titlist Jerson Balasabas (82-153).

LEXUS KEONINH (right) and Tim Stewart share the lead halfway through the tournament.

ROY DOMINGO

KaTropa stakes unblemished record vs Aces

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NT puts its unbeaten record on the table when it takes on lowly Alaska in the Philippine Basketball Association Governors’ Cup at the Ynares Sports Center in Antipolo City on Friday.

Holding an unblemished record of 6-0 wonlost, the KaTropa tackle the cellar-dwelling Aces (1-5) in the main game at 7 p.m.

Meralco (3-2), meanwhile, tries to stay afloat in the upper half of the standings when it faces Blackwater (2-3) at 4:30 p.m.

In its most recent outing, TNT received tons of help from import KJ McDaniels when the American exploded with 51 points along with 10 rebounds as the KaTropa rallied from a 19-point deficit to turn off the Meralco Bolts, 116-113, last October 12.

McDaniels also had plenty of help from the locals. RR Pogoy tallied 23 points and seven boards, while Jayson Castro and Troy Rosario registered 21 and 12 points, respectively.

The Bolts were in control for most part of the opening minutes and even extended their lead to 32-13 in the first period.

But McDaniels slowly shouldered the fightback in the middle quarters to push his team to the lead at 74-72 in the third quarter.

“It was a tough game for us against Meralco, we’ll see if we can survive again in our next game,” TNT Coach Bong Ravena said. “Good thing our players are composed, and are doing it greatly in defense.”

Alaska, on the other hand, breached the win column after five failed attempts courtesy of a 78-71 win over Rain or Shine last Sunday.

Jeron Teng returned from a hamstring injury and immediately made his presence with 18 points, four of which came from a decisive 6-0 run that gave them a 70-63 lead with less than five minutes remaining.

Ramon Rafael Bonilla

Huge field vies in Buglasan tilt

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ORE than 200 players, including 32 in the centerpiece Open division, slug it out for top honors, prizes and ranking points as the local aces and rising stars take center stage in the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Buglasan Tennis Festival which got going on Thursday at the Praxevilla Tennis Courts in Dumaguete City.

Roel Capangpangan and Maclean Barraquias headline the field that also includes Keane Barraquias and Nikko Salas, all geared up for the weeklong battle of

power and styles in the men’s singles event also serving as part of the “Festivals of Festivals,” one of the most awaited festivals in Negros Oriental.

Hostilities in the juniors division, meanwhile, starts on Friday with Lorenz Celis and Randy Tatoy II, and Ellaine Bahonsua and Ashley McKenzie bannering the field in the premier 18-and-under category of the Group I tournament put up annually by Gov. Roel Degamo in tie-up with PPS-PEPP. “The huge turnout guarantees another exciting week, especially for those wanting to prove their worth against the established stars,” said Palawan Pawnshop President and CEO Bobby Castro. “It’s inspiring to see these young players go out there and take the challenge in pursuit of honors and ranking points.”

‘ROUGH MATCH’ IN PYONGYANG Sports BusinessMirror

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| Friday, October 18, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

3-TIME OLYMPIAN PHINNEY RETIRES I N many ways, Taylor Phinney was born to ride a bike.

His father is Davis Phinney, an Olympic bronze medalist who won two stages in the Tour de France and made major inroads for Americans in the European peloton.

And his mother is Connie Carpenter-Phinney, who won gold at the 1984 Los Angeles Games and twice medaled at the world championships.

So it was no surprise when the brazen young rider with the big engine won a world championship on the track in the individual pursuit, or when he made the obvious move to road cycling. And when Phinney twice finished fourth—one spot off the medal stand—during the 2012 London Olympics, many wondered if he was still just scratching the surface of his potential.

Phinney, who announced his impending retirement Wednesday, never quite lived up to the outlandish expectations some set for him. But he still had a wildly successful career, one that included 10 world championship medals in a variety of disciplines and a stage win at the prestigious Giro d’Italia.

“I’m grateful that people would like to see me do amazing things on a bicycle,” Phinney said, “but the reality is, being touted as something, having talent or being told that you have talent—talent is nothing without work ethic, and work ethic comes from genuine passion for what you’re doing.”

“If there’s anything that I can take away from the sport of cycling it’s that,” he continued, “it is you can be as talented as you want, but if you don’t wake up every morning and you don’t want that thing, it doesn’t matter. There’s a lot of power in recognizing that you don’t have the genuine passion for the thing that you’re doing anymore. And then having the courage to make that choice.”

The 29-year-old Phinney will ride one more time for his trade team, EF Education First, this weekend in Japan. Then he will step away to pursue his other passion: art.

He might ride on the dirt from time to time, but Phinney said that would primarily be for fun.

“I just want to shred, you know? I was born into a cycling family, but I really fell in love with sport through freestyle skiing,” he said. “I decided to be a cyclist instead of a skier because, somehow, I thought it was safer for my body, and I was also better at it. But now I’ve sort of had this return to freestyle extreme sports through my mountain bike, and I feel like a 15-year-old again.”

TAYLOR PHINNEY has built a wildly successful career. AP

Phinney began his career on the track, where he shot to stardom with a top-10 finish at the 2008 Beijing Games in the individual pursuit. He went on to win back-to-back world championships in the event before it was stripped from the Olympic program, at which time he turned his attention to the road.

Phinney won the under-23 time trial world title in Australia in 2010, and took bronze in the road race that year. Five years later, he was part of the US-based BMC Racing squad that won the team time trial world title before thousands of adoring fans in Richmond, Virginia.

Phinney also competed in the 2016 Rio Olympics, completing a long and painful comeback from a crash at the 2014 national championships that threatened to end his cycling career.

Also on his résumé are three national time trial championships, an overall victory in the Dubai Tour, and a top-10 finish last year at Paris-Roubaix—an event that always held a special place for him. AP

SOUTH Korean players, wearing white, shake hands with their North Korean rivals after their Asian Zone Group H qualifying match for the 2022 World Cup at the Kim Il Sung Stadium in Pyongyang on Tuesday. AP

By Kim Tong-Hyung The Associated Press

S

EOUL, South Korea—South Korea’s national soccer team described their World Cup qualifier against North Korea in Pyongyang as a “rough” match played under strange conditions that may be reported to Fifa.

The historic match ended in a scoreless draw Tuesday at huge Kim Il Sung Stadium, which was empty of spectators. The match was also under a media blackout, and the South Koreans first spoke to journalists about the playing conditions upon their return to Seoul on Thursday.

“The opponents were very rough, and there were moments when very abusive language was exchanged,” Tottenham striker Son Heung-min said.

“It was hard to concentrate on the match because you were thinking about avoiding injury first...It’s an accomplishment that we returned from a game like that without injury,” Son said.

“Road matches can’t always be good—our players and staff had a hard time,” he told reporters at Incheon International Airport.

The team’s General Manager Choi Young-il said the South Korean soccer association, known as KFA, will discuss whether to submit a complaint to Fifa over what he described as North Korea’s failure to properly accommodate the visiting team, and decision to block media and spectators.

North Korea kept out South Korean media and spectators, and refused a live broadcast from the stadium.

Fifa President Gianni Infantino also attended the match, and on Tuesday issued a statement saying he was “disappointed to see there were no fans in the stands.”

“We were surprised by this and by several issues related to its live broadcast, and problems with visas and access for foreign journalists,” Infantino said.

North Korea did provide a DVD recording of the match to the South Koreans, but it was unclear as of Thursday afternoon whether South Korean networks would use it to broadcast the game on tape delay.

The North had been expected to have a unique home advantage in the 50,000-capacity stadium devoid of South Korean fans, but South Korean players and soccer officials were surprised to realize there would be no home crowd support, either.

Son said it was regrettable that South Korea, which has a stronger team on paper, couldn’t return with three points, but admitted that their opponents’ physical play got into the players’ heads.

Choi, a former defender who played for South Korea during the 1994 World Cup held in the United States, said the North Koreans played like they were “waging a war,” violently swinging their elbows and hands, and driving into their opponents knee first when competing for balls in air.

“I have never seen something like this in soccer before,” he said.

When they weren’t playing or training, South Korean players and staff spent the rest of their time in Pyongyang holed up at the Koryo Hotel, which appeared to have no other guests, Choi said. They had no outside contact, having left their cell phones at the South Korean Embassy in Beijing before entering the North. Choi said North Korean officials didn’t inform the South Korean team that the match would be played in an empty stadium.

“We got there an hour and a half early and kept thinking that the gate will open and a crowd of 50,000 would pour in,” Choi said. “But the gate never opened until the end.”

The game was the first competitive meeting between the national men’s teams in the North Korean capital, although the North hosted the South in a friendly in 1990.

North Korea in recent months has severed virtually

all cooperation with the South amid deadlocked nuclear negotiations with the United States, and repeatedly ignored the South’s calls for discussions on media coverage issues and allowing South Korean cheer squads ahead of the game.

South Korean government and soccer officials still aren’t sure why the North cast the game into media darkness and blocked out spectators.

Some experts say the North was expressing its political displeasure with the South by shutting out rival reporters and fans, but opted to compete in an empty stadium at home in an effort to level the playing field and avoid questions about fairness.

Others say North Korea might have been concerned about the possibility of its national team losing to the South in front of a massive home crowd, which would have been a humiliating development for leader Kim Jong Un, who has a passion for sports.

The awkward buildup to the game “demonstrates the immense discontent North Korea has for [South Korea]” for its failure to break away from its US ally and restart interKorean economic projects held back by US-led sanctions, said Choi Kang, vice president of Seoul’s Asan Institute for Policy Studies.

During qualification for the 2010 World Cup, North Korea chose to host games against South Korea in Shanghai, refusing to hoist the South Korean flag and play the South Korean anthem on its soil.

The fate of the game in Pyongyang was uncertain until last month when the governing body of Asian soccer informed the KFA that the North decided it would host the qualifier as scheduled.

South Korea’s two Group H matches against North Korea will be crucial in qualifying for the World Cup. The second match between the Koreas is scheduled for June 4 in South Korea.

South Korea has dominated the past 17 inter-Korean matches with seven wins, one loss and nine draws.

Group H also includes Lebanon, Turkmenistan and Sri Lanka.

UEFA asked to remove Turkey as Champions League final host

R

OME—UEFA has been asked to consider moving this season’s Champions League final out of Istanbul because of Turkey’s military action in Syria.

UEFA declined to comment Wednesday about a letter sent from the Italian sports minister questioning if it was appropriate to continue letting Turkey host the biggest club game in world soccer in May. “We know well that the seriousness of what is happening in Syria will not be resolved with this act but we are all aware of the importance [political, media, economic, cultural] that belongs to one of the most important sporting events in the world,” the letter states, according to Italian news agency Ansa.

The Ataturk Olympic Stadium was picked by UEFA last year over the Stadium of Light in Lisbon, Portugal.

UEFA Vice President Michele Uva told an Italian

radio station it was “absolutely premature to talk about sanctions,” though the situation would be evaluated by the European soccer body’s executive committee. It next meets on December 4.

Istanbul already hosted the UEFA Super Cup this season.

Champions League winner Liverpool beat Chelsea, the Europa League title holder, in a penalty shootout after a 2-2 draw.

Since Turkey began a military offensive in northeast Syria last week, national team athletes from the country have made salute gestures at sports events.

UEFA asked its investigators on Tuesday to assess if the Turkish soccer federation should be charged in a disciplinary case. Salutes made by Turkey players after European Championship qualifying games against Albania and France in the past week could breach rules prohibiting political statements at stadiums. AP

TURKISH fans shout slogans and salute before the Euro 2020 Group H qualifying match between their team and France at the Stade de France. AP

Ever-living God

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EAR God, You are our God forever. In hope we pray: Oh God, save us. Inspire all Your Church, young and old, to find understanding and delight in Your word of life. Show mercy to those who despair and rescue those who are tempted to harm themselves or others. Release those who are unjustly held captive. Let the least, the lost and the youth at risk be away from danger. May God teach us to judge wisely, live justly and walk humbly in Christ with all creation, by the power of the Holy Spirit.

Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

RENEE ZELLWEGER ON JUDY GARLAND

SOMETHING LIKE LIFE: THE DREAM WEAVERS D3

Friday, October 18, 2019

What makes a legend most? ➜D2

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Friday, October 18, 2019

Cover Story BusinessMirror

What makes a legend most?

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

By Jake Coyle The Associated Press

CELEBRITIES BORN ON THIS DAY: Zac Efron, 32; Esperanza Spalding, 35; Freida Pinto, 35; Wynton Marsalis, 58.

ORONTO—For Renée Zellweger, the task of becoming Judy Garland was too daunting to contemplate all at once. Such a character needed to be assembled piecemeal: a bit-bybit metamorphosis starting with the voice, followed by workshopping the songs and then building in the mannerisms, the hair, the makeup, the stage presence and so on.

“It was a series of experiments, an exploration that we all shared trying to understand and see what was possible, seeing what we could conjure,” says Zellweger. “It was always in motion.”

The accumulation of all those layers, in Rupert Goold’s Judy, can feel like a magic act. There are no signs of the nearly two years of work that went into Zellweger’s Garland, just the dazzlingly detailed final draft. “I felt like we took hundreds of little steps away from Renee,” says Goold, the British theater director.

And yet, as much as Zellweger’s performance is a whole-bodied acting feat, it’s not mere mimicry. Her Garland may be show-stopping Oscar bait, but it’s also a delicate and deeply felt character study. Its power lies in the fusion between Zellweger and Garland— how they naturally connect despite diverging in drastic ways. Both were American sweethearts whose public personas, forged at the heights of fame, cleaved away from them.

“I understand the differences between the projections that land on a public persona and the truth of the human experience,” says Zellweger.

“There are certain things about her experiences that I understand, having lived the life inside Hollywood.”

In Judy, based on Peter Quilter’s stage musical End of the Rainbow, Zellweger, 50, is playing Garland in 1968, at 46, just months before she died of an accidental overdose.

Garland, having exhausted all her other opportunities, is performing—sometimes gloriously, often shambolically—a five-week run of shows at the London cabaret Talk of the Town. Plagued by health and financial woes, she’s been chewed and spit out by the Hollywood machine that made her the star of The Wizard of Oz and A Star Is Born.

She’s also haunted by flashbacks with MGM chief Louis B. Mayer, who turned her into one of the most famous people on the planet, but who also fiercely controlled her. The executive is depicted as being responsible for her addiction to diet pills, preying on her insecurities (he called her “my little hunchback”) and, according to an unpublished memoir by Garland, regularly groped her.

Judy, which is (in limited release in North America before adding more theaters), is about an indomitable performer whose deepest traumas have come from the very thing she loves. It has obvious parallels to the current #MeToo era of Hollywood. Zellweger, herself, was one of Harvey Weinstein’s most consistent stars.

He was partly, or significantly, behind Zellweger’s three Oscar-nominated roles (Bridget Jones’s Diary, Chicago and Cold Mountain, for which she won).

Zellweger has said her experiences with the producer never approached the kind of abuse others have detailed. But the Texas-native (whose highprofile romances have included Jim Carrey, Jack White, Bradley Cooper and Kenny Chesney, to whom she was briefly married) is well acquainted with the way an onslaught of fame and the cycles of show business can turn destructive.

“She’s delivering to expectations that can be extraordinary for a sustained period of time. I know what it’s like to do that for a limited period of time,” Zellweger says of Garland.

“I can imagine what that must be like—that your identity, and your joy and your ability to take care of yourself is wrapped up in constantly delivering something that requires that you not.”

HAPPY BIRTHDAY: Look at the past, evaluate the present and consider what you want to do next. You’ll learn a lot through observation. Positive change happens when you set a goal and put a strategy in place that will help you reach your destination. Live, learn and do your best to replace what isn’t working for you anymore with something that will. Your lucky numbers are 9, 14, 20, 24, 27, 39, 41.

T

a

ARIES (March 21-April 19): Consider the possibilities and call in the help you need to get things done. Collaborating with people who are innovative and show interest in what you are doing will lead to future endeavors. Don’t fear change; embrace what’s being offered. HHHH

b

TAURUS (April 20-May 20): Know what you are up against and who is on your side. Pick your associates carefully and for the right reasons. Don’t let emotions interfere in doing what’s best. Partnerships should be questioned if equality isn’t maintained. HH

c

GEMINI (May 21-June 20): The goals you set will require energy, enthusiasm and determination, but in the end, you can come out on top if you are relentless and refuse to let what others do interfere with your plans. Don’t let uncertainty hold you back. HHHHH

d

CANCER (June 21-July 22): Be aware of what others want you to do, but don’t go against your better judgment to please.

Stick to your plan, and use your intelligence, not your emotions, to make choices. HHH

In Judy, based on Peter Quilter’s stage musical End of the Rainbow, Zellweger, 50, is playing Garland in 1968, at 46, just months before she died of an accidental overdose.

“She’s delivering to expectations that can be extraordinary for a sustained period of time. I know what it’s like to do that for a limited period of time,” says the actress of the Hollywood legend. “I can imagine what that must be like—that your identity and your joy and your ability to take care of yourself is wrapped up in constantly delivering something that requires that you not.”

Judy is the apotheosis of a resurgence for Zellweger.

Her performance has so bowled over festival audiences that she’s widely considered this year’s front-runner for the Best Actress Oscar. Speaking at the Toronto International Film Festival earlier this month, Zellweger—effervescent and unguarded, wearing jeans and sneakers—had little to say about that. But making Judy, she said, was “magic.” Since childhood, Garland has existed intertwined with her own visions of Hollywood. “Her influence is indelible,” she says.

“How you dream with her.”

Like her subject, Zellweger has negotiated her own battles with the ups and downs of the film industry.

After a string of forgettable films and fatigued from

constantly going movie-to-movie, she took a six-year hiatus from acting beginning in 2010.

“From the inside, there’s been no break. There’s just been working in a different capacity that allowed for other things that a person needs to do when you live once,” Zellweger says. “I needed to do a little growing, and learn some different things and have some authentic exchanges to fill the well again.”

“It was necessary,” she adds. “I wasn’t healthy. You can’t sleep three hours a night for a sustained period of time and it [will] not have consequence.”

A red carpet appearance in 2014 returned Zellweger to the headlines, with tabloid reports and online commentary focusing on how she looked different. Zellweger at the time said she was “living a different, happy, more fulfilling life and I’m thrilled that perhaps it shows.” She penned an op-ed, titled “We Can Do Better,” lamenting the superficial doublestandards women are held to.

In 2016, Zellweger returned with Bridget Jones’s Baby and a handful of projects have since followed. But Judy is something else. That Zellweger was the choice for the role, Goold says, was both natural and a reach.

Zellweger, he notes, is blonde, sweet, comic—in many ways far from the forceful diva that Garland was. But her emotional connection to Garland added a deeper empathy.

“We talked about what it is to be a female performer over 40, how that was Garland and to a degree how that’s been for Renee, as well. But not a lot,” says Goold. “It felt like a very intimate, very gentle filmmaking process. It felt like we were capturing something in a cupboard. She responded to that.”

What they ultimately conjured, piece by piece, reaches a crescendo in a climactic rendition of “Over the Rainbow.” Judy, in the end, is no tragedy. It’s a celebration of a resilient icon for whom trouble didn’t melt “like lemon drops.”

“When you understand what led her toward those circumstances, it’s impossible to dismiss it simply as sad. This is a woman who’s heroic,” says Zellweger.

“She always showed up and she kept going. That sets her apart from people who are simply extraordinary.

She’s one in a million years.” n

e

LEO (July 23-Aug. 22): Focus on your needs, and refrain from getting involved in something you know isn’t good for you in order to keep the peace. Focus on saving and doing things that will ensure you remain healthy and fit. HHH

f

VIRGO (Aug. 23-Sept. 22): Talk matters through. You’ll be able to make plans with someone you want to spend more time with.

Love, romance and long-term partnerships are favored and will encourage making positive changes that will enhance your life. HHH

g

LIBRA (Sept. 23-Oct. 22): Don’t give in to someone pressuring you to do things you don’t want to do. Set the record straight and speak up about what you want. Change begins within, and it’s time for you to follow your heart, not someone else’s demands. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Think twice before making a decision that will affect those you live with. An emotional situation will surface if you haven’t been up-front about your plans. Find a positive way to convey your ideas that offers something for everyone involved. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Sharing with others may undermine what you are trying to accomplish. Someone is likely to use your openness against you. Don’t be gullible or you will end up in a compromising position. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t limit what you can do because someone is being pushy or creating unexpected changes to make your life difficult. Form plans and set priorities. It’s up to you to say no when someone or something is working against you. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Look over your personal finances and the deals you have made or the ones you are considering.

Consider the costs involved and alternative choices that will save you from excessive expenses. HHH

l

PISCES (Feb. 19-March 20): Check the rules and regulations before you get involved in something that may not be up to institutional standards. Doing things by the book will lead to positive changes and opportunities that will encourage personal gains. HHH BIRTHDAY BABY: You are benevolent, wise and generous.

You are resourceful and intense.

‘bug out’ BY PAUL COULTER The Universal Crossword/Edited by David Steinberg

ACROSS 1 Pie crust ingredient 5 Tablets for Apple Pencils 10 Civil-rights concern 14 Jacob held his heel at birth 15 Equip, as a newscaster 16 Foot or furlong 17 Quip question 20 Shirt-coloring stuff 21 Homes for pigeons and sheep 22 Gamblers’ markers 23 Black and ___ (cocktail) 24 Philadelphia Eagles’ org.

25 Start of the quip’s answer 34 That and that 35 Dan’s country music partner 36 Law & Order: ___ 37 Carrot, for one 38 Eyeball benders 39 Stated 40 Suffix for “east” 41 Carnival attraction 42 Hispaniola country 43 More of the answer

7 Ceiling 4 48 “What ___ the odds?”

49 Sometimes-gold fabric 50 Sunbathes 53 Horton Hears a ___!

56 End of the answer 59 Highlander 60 Tennessee tackler 61 Bygone kind of store 62 DIY handicrafts site 63 In a crowd of 64 Actor Omar DOWN 1 Bawdy 2 Far from ruddy 3 Big Mouth Martha 4 Palindromic failure 5 “That’s it for me” 6 College in western Pennsylvania 7 Advil target 8 Club member’s payments 9 Cover letters?

10 Bribe 11 Making good time at sea

2 Afflicts 1 13 Professional organizer’s challenge 18 Comforting comment 19 Director Wertmuller 23 Makeup, e.g.

25 Scatter 26 Now, in Nogales 27 Pictures with craters 28 Jellied garnish 29 Shelter from the sun 30 Propelled a rowboat 31 Paper with a Mini Crossword: Abbr.

32 Digital party-planning aid 33 All Things Considered host Cornish 38 Bruins great Bobby 39 Call at first 42 Knight in chess, essentially 44 Word before “time” or “tree” 45 Hyphenated column 46 Capturing 49 Aspiring atty.’s exam 50 Fedora feature 51 About 52 Bridge statistic

3 Beat, as cream 5 54 Cord fiber 55 Assayers’ samples 56 14, for Honey Boo Boo 57 Pilot’s announcement, briefly 58 1950s White House monogram

Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, October 18, 2019

The dream weavers SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

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ALES and marketing staff are the backbone of most businesses, especially in the hospitality industry.

Without them, rooms are not booked and revenues are not earned. They spell the difference between success and failure for their establishment.

Every year, the Hotel Sales and Marketing Association Inc. (HSMA) recognizes the best among the sales and marketing professionals of their industry, as well as the successful marketing campaigns that brought in the guests to check out these establishments. The Virtus Awards, now in its fifth year, were handed out on October 14, at the elegant Forbes Ballroom of Conrad Manila. It was not just a night to toast to the best of the hotel sales and marketing professionals, but also to celebrate HSMA’s 40th anniversary—and what a ruby red memorable fete it was.

Gracing the spirited occasion was Tourism Secretary Bernadette Romulo Puyat, resplendent in her vintage cobalt blue gown with ivory touches by Inno Sotto. She acknowledged HSMA as “among the first tourism industry associations that reached out and expressed its support when I was appointed secretary of the [Department of Tourism].”

Also lending support to their hotel colleagues were Jose C. Clemente III, president of the Tourism Congress of the Philippines, and Cesar Cruz, president of the Philippine Tour Operators Association.

Sales and marketing are challenging jobs, which, as HSMA President Christine U. Ibarreta stresses, is not for the faintheared. She laughingly recalls being chased by a dog and tearing her stockings en route to her client presentation at a government office. “They looked at my disheveled appearance, and decided to book all their events with me out of what I hope to be admiration for my grit!”

THE officers of the Hotel Sales and Marketing Association Inc. with the Virtus Awards winners: HSMA Chairman Margie Munsayac (from left); Virtus Awards Chairman Rose H. Libongco; Outstanding Sales and Marketing Associate Rigil Kent Acapulco (The Bellevue Manila); Outstanding Marketing Campaign Winner Crimson Hotel Filinvest City represented by Kirk Anthony LLamas and Ronie Marie Reyes; Outstanding Sales and Marketing Leader Evangeline Imperial (Solaire Resort Manila); Outstanding Marketing Campaign Winner Taal Vista Hotel represented by Michael Anthony Sagaran; HSMA President Christine U. Ibarreta; Outstanding Sales and Marketing Manager Marvia Jelizha Villarin (The Bellevue Hotels and Resorts); Outstanding Sales and Marketing Associate Ian Bencio David (Conrad Manila); and HSMA board trustees Michael Jaey Albaña, Carmela Bocanegra, Amie Villena, Tet Romualdo, and Benjie Martinez.

Before the awards were handed out, guests were entertained by WCOPA Team Philippines who performed songs from popular Broadway musicals like Chicago, Cats, Miss Saigon and the hit film The Greatest Showman.

This year’s winners of the Virtus Awards are: Rigil Kent Acapulco (The Bellevue Manila) and Ian Bencio David (Conrad Manila) for Outstanding Sales and Marketing Associate; Marvia Jelizha Villarin (The Bellevue Hotels and Resorts) for Outstanding Sales and Marketing Manager; Evangeline Imperial (Solaire Resort Manila), Outstanding Sales and Marketing Leader; and Taal Vista Hotel 80th Anniversary: Here for Always (Taal Vista Hotel) and Passionately Pink (Crimson Hotel Filinvest City) for Outstanding Marketing Campaign.

Of the Virtus Awards, Romulo Puyat said, “The DOT hopes that more and more people will be encouraged by it, to take into heart our common goal of raising competitiveness in tourism, and, most important, of instilling in everyone the culture of excellence and making tourism as a way of life.”

The search for the outstanding sales and marketing professionals, as well as marketing campaign this year took over six months, with the vetting process spearheaded by a

committee comprised of Virtus Awards Chairman Rose H. Libongco and the sitting HSMA board comprised of HSMA Chairman Margie Munsayac of Bluewater Resorts, Ibarreta of Golden Phoenix Hotel Manila, Vice President Benjie Martinez of Bayleaf Hotels, Treasurer Carmela Bocanegra of Chroma Hospitality, Secretary Cristina Carreon of Marriott Hotel Manila, Memberships Director Tet Romualdo of Linden Suites, Education Director Michael Jaey Albaña of Conrad Hotel Manila, Programs Director Amie Villena of Bellevue Resorts Bohol, and PR Director Pearl Maclang of Marco Polo Davao. This year’s immensely competitive group of nominees came from Bayleaf Intramuros, The Bellevue Hotels and Resorts, Bluewater Maribago Beach Resort, City of Dreams Manila, Conrad Hotel Manila, Crimson Hotel Filinvest, Crimson Resort and Spa Boracay, Diamond Hotel Philippines, Golden Phoenix Hotel Manila, Hotel 101 Manila, Hotel Jen Manila by Shangri-La, Joy Nostalg Hotels and Suites Manila, Las Casas Filipinas de Acuzar, Lima Park Hotel,

Midas Hotel and Casino, Oxford Suites Makati, Quest Hotel and Conference Center Cebu, Seda Hotel Abreeza, Sofitel Philippine Plaza Manila, Solaire Resorts Manila, and Taal Vista Hotel.

Libongco, a seasoned hotelier, put it best: “This is the reason for the Virtus Awards. Because the job of sales and marketing associates, managers and leaders are the most nerve-wracking in hotels. The challenge of delivering the unforgiving numerical and financial targets of the hotel alters blood pressures, promotes creativity in explaining shortfalls, and encourages religiosity in begging one’s favorite saints to help deliver this month’s gaps in the next production report.

“The best of the pack don’t flinch at their multimillion/ billion peso goals—they have ice in their veins and fire in their bellies. They are sales forces of the first water—they are solution providers and, therefore, they are dream weavers, conjurers, magicians, the life of hotels and resorts.”

To all the winners, congratulations. n

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Friday, October 18, 2019

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Documentary on Antique Rice Terraces to screen in Brazil filmfest

MISS Universe 1969 Gloria Diaz and Miss Universe 2015 Pia Wurtzbach

PARÁ, Brazil—One Philippine entry has made it to Festival de Cinema de Alter do Chão (or AlterFest for short), a film festival that focuses on the Amazon and other indigenous cultures.

Pátok (The Mountain Carvers), a documentary film

by Emmanuel Lerona, will have its international premiere in the city of Santarém, Pará, Brazil, in the competition section of AlterFest to take place from October 21 to 27, 2019.

AlterFest describes itself as “a meeting place between cultures around audiovisual production and other artistic manifestations.”

The festival offers “a look at the Amazon, the peoples of the world, the appreciation of nature, and the recognition of global rights.”

SPOTLIGHT ON ANTIQUE SET in the middle of the Antique Rice Terraces, Pátok (The Mountain Carvers) tells the story of the Iraynon Bukidnon people, an indigenous peoples’ community, of Gen. Fullon, San Remigio, Antique, as they cope with the challenge of living in a remote area while confronting the encroachment of modernity not only toward their ancestral land but in their lives in general.

A maaram (a respected elder equivalent to a babaylan) leads a ritual of thanksgiving offered to the spirits of the land, while teachers and students talk about the struggle of getting education in a location such as theirs. A daughter talks about a dying mother’s wish to be buried back in their place, while a mother talks about her children who have left for greener pastures.

DOCUMENTING FOR RECOGNITION “VIRTUALLY nothing is known about the Iraynon Bukidnon in popular media, as if they are a distant concept to many people,” said Lerona. “In our film, we portray the Iraynon Bukidnon not only as a people that made the Antique Rice Terraces but also as people with a lot of concerns just like the rest of us. The inclusion of Pátok [The Mountain Carvers] in AlterFest is very timely as we celebrate National Indigenous Peoples Month in the Philippines.”

Festival de Cinema de Alter do Chão is promoted by Krioca Comunicação Production Co. with the institutional support of the Pará State Government, Pará, State Culture Secretary, Santarém Administration, Federal University of Western Pará, Pará Federal University, Fluminense Federal University and many more.

The film will also have free screenings at Festive Walk Iloilo Cinema 2 on October 19 in celebration of the National Indigenous Peoples Month. The screening is presented by the UP Visayas Division of Humanities and copresented by Festive Walk Iloilo

by Megaworld Lifestyle Malls at the Iloilo Business Park. Pátok was produced with grants assistance from the National Commission for Culture and the Arts and the Commission on Higher Education through its Institutional Development and Innovation Grant program.

IN a span of more than three years, Lerona interviewed several elders in Barangay Gen. Fullon, San Remigio, Antique.

PHOTO: RUPERTO QUITAG

Desperately seeking Pia Wurtzbach GAB FAB JET VALLE

@jetvalle

I

N my years in the business, I hardly get starstruck. I’ve interviewed stars and starlets left and right, some became my friends, some I had a falling out with, but I am usually indifferent when it comes to celebrities. I know we’re all the same people. We all laugh, love, dream, cry and fart.

Oftentimes, in my delusional mind, I even think I am better than some of them. While many would scramble to take a picture or get an autograph from celebrities, my mind would often wander off and think of other things. Except when it comes to Pia Wurtzbach.

My obsession with Pia started about five years ago. December 17, 2015, to be exact. You see, it was the ABS-CBN Corporate Christmas party and it was a time for merriment and revelry. The whole company was letting their hair down eating and drinking.

Well, except poor ol’ me. It was close to midnight and I was still fixing a lot of things, among others a TVC featuring the Binibining Pilipinas titleholders of that year which included Pia. I was close to crying, closer to getting angry at the world, the universe rather, and scream to the highest of the heavens, “Hoy, Pia! Dapat manalo ka ng Miss Universe at makapagpa-picture ako sa ’yo, kung hindi sasabunutan kita!”

Unless you live under a rock, you know what happened three days later. Pia, in her resplendent blue

gown, was announced as first runner-up to Colombia.

I pulled what’s left of my hair and cried and screamed all kinds of expletives. A few moments later, pageant host Steve Harvey came back and admitted that he announced the wrong winner. I, along with millions of Filipinos everywhere, rejoiced as the rightful winner was crowned.

For her first homecoming, I connived with It’s Showtime host Mariel Rodriguez to have a picture.

She, too, was obsessed with Pia and I even showed her my peg of what my picture with Pia would be like. It would be like she was hugging me, as if I was the sole reason she won Miss Universe. I waited and waited, but there was a ton of interviews she had to do and my boss texted me that our meeting was about to start.

With a defeated heart, I went back to the office and an hour later, Mariel messaged me with a picture—of her hugging Pia just like in my peg!

She then flew back to New York to fulfill her duties as Miss Universe and then went back to the country to restart a career in showbiz. There were a lot of opportunities for me to take that picture with her: a ton of presscons and shoots where we were almost breathing the same air; endorsement activities she got busy with where I was even the project head, but when it came to a shoot or a guesting with her, I would defer to my teammates because of work, and so they took their picture with her. To think her handler, the wisecracking but gold-hearted Rikka Dylim, is one of my closest friends.

Then last week, the stars finally aligned. First, I was invited to a presscon for ABS-CBN Books where it was announced Pia would soon author a fictional book. Armed with my trusty cell phone (it has a cracked screen actually, and sometimes I cannot type the letters “A” and “Z” and it would conk out every two hours), I charged to the event and finally had that picture with her. Oh, she received a mouthful from me! I told her about that story of me almost

JENNYLYN MERCADO TO PLAY ROLE OF BEAUTY IN PINOY ADAPTATION OF ‘DESCENDANTS OF THE SUN’ AFTER months of speculation, it is now official: Jennylyn Mercado is Dr. Maxine de la Cruz, a.k.a. Beauty, on GMA’s highly anticipated remake of the hit Korean drama series Descendants of the Sun. Since the announcement of the Philippine adaptation, Jennylyn has been the top choice of GMA fans for the coveted role. The award-winning actress couldn’t help but share her excitement to reprise the immensely popular character of Beauty.

“I am super happy to portray Dr. Maxine de la Cruz in the Philippine adaptation of Descendants of the Sun. When I heard they started taping already and preparing for the soap, ako din na-curious kung sino nga ang napili para sa role. When I learned that it was me, I was overwhelmed with gratitude for

GMA’s trust, and but I also felt pressured since I know how big this project is. I promise I will do everything to give justice to the role. I won’t let fans of the original down,” she said.

The character of Dr. Maxine is a skilled cardiothoracic surgeon. While often noticed for her pretty face, she is headstrong, principled, and, most of all, willing to do everything in her power, even put herself at risk, for her patients.

Jennylyn will be working for the first time with Dingdong Dantes, who is reporting for duty as alpha team leader Captain Lucas Manalo or “Big Boss.” The upcoming prime-time series also stars Rocco Nacino as Diego Ramos or “Wolf,” and Jasmine Curtis-Smith as Moira Defensor. Joining the powerhouse cast are

Lucho Ayala, Jon Lucas, Paul Salas, Prince Clemente, Ricardo Cepeda, and Antonio Aquitania in the Soldiers Team, while the Doctors and Nurses Team is comprised of Andre Paras, Chariz Solomon, Nicole Donesa, Jenzel Angeles, Reese Tuazon and Renz Fernandez.

The series also stars Bobby Andrews, Neil Ryan Sese, Ian Ignacio, Rich Asuncion, Marina Benipayo, Hailey Mendes and Roi Vinzon.

Esteemed director Dominic Zapata is at the helm of this much-awaited project.

Last August, GMA’s Entertainment Group inked a partnership with the Armed Forces of the Philippines to rightfully represent the country’s military forces for this very important flagship project of the network.

crying during the ABS-CBN Christmas party, those missed opportunities and how those stories I would read about her in different interviews of her working hard to get that crown which, in turn, inspired me to work even harder so that one day I would also be Miss Universe in my own pathetic life. That day, in fact, I was in the verge of tears, literally. I blurted that out to her and the ever nice Pia hugged me and even directed my pictures with her. “Dun tayo sa maganda ang ilaw!” she said.

Pia gamely posed and talked to me as if we were long lost friends.

God must have realized how such a good gay I am that He gave me another opportunity to have a picture with her...and this time with the first Filipina Miss Universe, Gloria Diaz no less. It was the opening of the LuxeHome BGC showroom.

LuxeHome is the official distributor of premier European brands such as DeRUCCI (an Italian brand known for its luxury mattresses and bedroom fixtures), Domicii (a German heritage lifestyle product), Pillowise (custom pillows from the Netherlands), Downia (premium leather and down, fitted pillows from Australia) and Relax Studio (a company that specializes in ergonomic chairs). It is located at MC Home Depot and you can even go to www.derucci.com.ph or www.pillowise.ph to know more about their products.

The opening was a glitzy affair hosted by Tim Yap where the different products were showcased. It was in that event where I was able to chat again with Pia, and, while I kept it cool, I was really a nervous wreck.

Hello??!!?! This is Pia Wurtzbach. My queen! My inspiration! My goddess! My everything!

At that point in the event, I wanted to cry again.

And driving home from the event on my way to another one, I did and just let it all out. And it felt good. In fact, I felt confidently beautiful about myself and my life. n

Motoring BusinessMirror

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

Editor: Tet Andolong

Friday, October 18, 2019 E1

The new D-Max goes to Mindanao A

signed course that tested its 4x4 abilities. The rugged course took the participants to the lateral descent ditch crossing, cross axle articulation, elephant holes, 45-degree camber sides, before finally tackling the 40-foot-degree hill climb and descent.

All of the participants, including this writer, swooned and were enamored not only with the new looks of the D-Max, but more important with its built and 4x4 capabilities.

With the reliable 4JJ1-TCX 3.0-liter inline four-cylinder Blue Power Diesel engine with VGS turbo intercooler under its hood. The new D-Max made short work of the extensive course. This engine, the most powerful engine to grace Isuzu’s pickup line the country to date, is rated at 177 horsepower and 380 N-m of torque.

Story & Photos by Patrick P. Tulfo

FTER the successful launch of the new Isuzu D-Max in Manila and Cebu, it was the turn of Davao City, known as the “Durian Capital of the Philippines,” to witness and personally experience the new D-Max. In the three-day event held in one of the biggest malls in the sprawling city of Davao, both Davaoeños and Davaoeñas alike were able to witness the rollout of the most stylish iteration, yet, of one of the most successful pickups in the country. Isuzu Philippines Corp. (IPC) turned the SM Lanang, open grounds (located just beside

the mall) into a playground of sorts for 4x4 enthusiasts, as well as ordinary folks, to showcase the capabilities of the new D-Max. Dubbed as the “Tough Enough for Anything” 4x4 test-drive event, visitors and participants were given the opportunity to sample the vaunted mettle of the new D-Max, as they took around in specially de-

Isuzu D-Max made short work of the rugged course besides SM Lanang.

Continued on E4

Moto

Business

E2 Friday, October 18, 2019

MOTORING ’MINDER

VILLAR FORMALLY OPENS AGUINALDO-DAANG HARI INTERSECTION FLYOVER TO MOTORISTS

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UBLIC Works (DPWH) Secretary Mark A. Villar officially opened to vehicular traffic on October 12 the P264million flyover project at the Aguinaldo-Daang Hari Intersection in Imus City, Cavite.

Villar said that the four lanes flyover in Barangay Anabu with a total length of 564 lineal meters including approaches is the first flyover built in Imus City, Cavite, as a traffic solution to the busy Aguinaldo Highway-Daang Hari Road intersection and nearby Anabu roads leading to the Cavite-Laguna Expressway.

The opening of the newly completed flyover will improve the living standards of the people near the area and will fast-track the delivery of goods and services toward sustaining the growth and development of Imus City and even neighboring Dasmariñas City in the province of Cavite.

This is a vital project that will cut in half travel time of about 15 to 30 minutes from Daang Hari Road—the main road to and from thickly populated Cavite and Metro Manila, going to

Malagasang-Bucandala-Alapan Road, added Villar.

The flyover is expected to eliminate delays especially for the through traffic movement at Daang Hari Road and will also result in savings on vehicle operating cost.

Villar said that the AguinaldoDaang Hari Intersection Flyover will also have impact to government’s program for air pollution control as the reduction of heavy traffic along the intersection had the added benefit of reducing carbon emissions due to idling of vehicles.

The project was implemented by DPWH Regional Office $-A headed

by Regional Director Samson Hebra together with the Cavite First District Engineering Office.

Construction started in March 2016 and progress of work was hampered by the right-of-way issues and an accident in the ongoing construction in May 2018 when an error happened on the part of the boom crane operator placing the girder or concrete beam in the flyover, causing the collapse and the need to fabricate new girders.

TOYOTA UNVEILS TH

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Story & photos by Randy S. Peregrino

OYOTA Motor Philippines (TMP) has finally launched the latest generation of its longest-running model—the all-new Corolla Altis. Apart from the newest and popular compact sedan’s introduction, the event also marked another milestone for TMP’s history.

That’s because this model is the first in its lineup to feature three of Toyota’s latest technologies in one variant. Bearing a completely redesigned exterior and interior, this twelfth generation now comes in a top spec hybrid variant. “ The all-new Toyota Corolla is the first-ever model to be launched in the Philippines that completely embodies our philosophy of ‘Ever Better Cars,’” said TMP president Satoru Suzuki.

“With Toyota New Global Architecture [TNGA] which is the new standard of design and engineering, it provides ‘Ever Better Performance.’ With Toyota Safety Sense [TSS], it offers customers

‘Ever Better Lives.’ And with hybrid technology, it helps create an ‘Ever Better World,’” he added.

While retaining its timeless legacy, the new generation of the Corolla Altis highlights redesigned with improved performance and accentuated appeal. This wellloved model that we all grew up with further elevates its image by enhancing performance, comfort and convenience, while providing

COMPLETELY redesigned and sleeker exterior (1.8 V HV variant)

EQUALLY stunning rear end (1.6 G variant)

peace of mind with its advanced safety features. With prestige and sophistication as the main design inspirations, the front end’s appearance is clearly an adaptation of the new Camry’s fascia design.

These are the pronounced signature Toyota trapezoidal lower grille projecting a strong and

wide stance along with the sharp character line uniting slim upper grille and those sharp-looking headlamps. Exclusive to the 1.8 V HV and 1.6V CVT variants are bi-beam LED headlamps and LED line guide daytime running lights.

The rear end, meantime, also bears that entirely redesigned look.

POE TO SEEK P27-M FUND FOR ROAD SAFETY PROGRAMS

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EN. Grace Poe said she would press for the reinstatement of the P27-million fund for road-safety programs, logistics and equipment, such as breathalyzers.

Poe made this declaration at the Wednesday hearing of the Public Services Committee, which tackled bills seeking to declare every third week of November as World Day of Remembrance for Road Crash Victims.

Department of Transportation (DOTr) Undersecretary Mark Richmund de Leon told the panel that the 2020 proposed budget has no appropriation for road-safety programs.

De Leon said the road-safety fund is lodged in the Motor Vehicle User’s Charge, which has been modified last year.

“Unfortunately, ni piso, walang pondo [for road safety],” he said.

Poe lamented the absence of allocation for road safety and vowed to ask her colleagues to allocate funds for the purchase of breathalyzer for the Metropolitan Manila Development Authority (MMDA).

Breathalyzers are instruments that test the alcohol level of motorists.

Families of victims of car crash told the panel during the hearing that a number of cases involving vehicular accidents have been dismissed due to lack of evidence such as proof that the driver was drunk because there was no test conducted.

“Yung ‘pag test kung lasing ang isang driver, kasama ‘yan sa road safety, pati yung drivers’ education, at iba pang programa, kaya nga diumano mga P27 million ang budget na kailangan nila rito.

Bukas, magkakaroon ng pagdinig ang DOTr para sa budget, gusto ko sanang ma-reinstate ang programa na ito,” Poe

said in a separate interview.

“It has to be funded, it has to be a priority kasi prevention and safety are paramount in the transportation system that we have.... Tingin ko naman, magagawan ng paraan kasi buhay ang poprotektahan,” Poe added.

Poe also presided over the committee’s third technical working group (TWG), which is working with the DOTr, National Economic and Development Authority (Neda), Department of Public Works and Highways, MMDA and concerned stakeholders in coming up with a transportation master plan to alleviate the plight of commuters and motorists.

The committee earlier created a technical working group to review the government’s transportation master plan and several proposals to address the traffic crisis.

Poe said Neda informed them that the project list drafted in 2014 containing priority infrastructures is still being updated and completed. The list that will come from various implementing government agencies will form the Roadmap 2.

One specific measure which is not yet included in the draft Roadmap 2 and the 2014 Roadmap is the creation of a single traffic authority similar to the existing Inter-Agency Council for Traffic.

DOTr is asking Congress to create such body and will submit specific proposals on this, it was revealed during the TWG. Poe said that Neda also cited another plan called the Philippine Transportation System Master Plan (“Master Plan”) that would include projects outside the Greater Capital Region. This is still being drafted and is already overdue but is expected to be completed this December.

ENTIRELY fresh dashboard layout with better visibility. TOYOTA MOTOR PHILIPPINES

5 REASONS TO LOVE THE 2020 AUDI A4

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UDI engineers set the bar higher for the compact executive sedan segment with the vastly improved award-winning 2020 Audi A4. It features numerous premium technologies and elegant design, while lightweight construction meets new, efficient drivetrain solutions.

Safety (IIHS) through five grueling crash tests that challenged both the engineering and design features. It has also received the “Best Executive Car of the Year” from What Car? Awards UK, and “Best Buy” winner from Kelly Blue Book in the US.

Practical for the everyday drive

Sportier yet elegant design

WITH flat surfaces and sharper lines, the new A4 assumes a distinctively sportier look. The Singleframe grille is broad and flat, which, along with the LED headlights and LED daytime running lights, provide the visual Audi trademark. Exterior wise, the 2020 A4 will definitely catch people’s attention.

Comfort and quality inside and out

THE 2020 Audi A4 is almost 2 inches longer than its predecessor— the roomiest in its segment, coupled with lower seats, enhanced legroom and headroom, which gives more comfort and space. Its interior speaks of the highest quality for luxury sedans in the market today. Not only does it boast ergonomic design excellence, but an incomparably impressive selection of materials, as well. The A4 has a full leather interior with aluminum accents, complemented

by classy ambient interior lighting that serves as reminder that this is not just any other sedan.

Smarter than the rest

THE A4 possess an array of driver assistance systems, high-tech virtual cockpit and drive selections. Audi’s famed Virtual displays all vehicle information plus navigation which can also be transferred to the 8-inch display located at the center of the dashboard. Simple and intuitive, Audi’s MMI can connect to your mobile with Apple CarPlay and Android Auto.​ Enhanced with Audi Drive Select, the driver can choose between four different driving modes ranging from

comfort for the daily commute, to sport mode for more dynamic performance.

Audi’s S tronic gearbox also allows for faster, smoother gearshifts that gives power on demand. Driver assistance systems include park assist system that allows for a totally hands-free experience, park assist that lets the vehicle steer itself into a spot—easing the burden off from the driver.

Safer than ever

SAFETY is always a top tenet for Audi engineers in every car they conceptualize, and such is the case in the Audi A4. With the smart technologies mentioned, the A4 earned the “Top Safety Pick” rating of the Insurance Institute of Highway

POWERED by a 1.4-liter, inline-4 turbocharged petroleum engine mated to a seven-speed, S tronic dual-clutch transmission, the A4 delivers 150 hp and 250 N-m of torque. This limousine runs the zero to 100 km/h sprint in 8.7 seconds, and goes on to a top speed of 220 km/h.

Using Audi’s Ultra Lightweight Technology, the A4 is now 120 kilograms lighter. Weight reduction means improved driving performance and better fuel consumption­—it is in fact 21 percent more frugal than its predecessor.

Whether for the average daily urban commute or for fun drives out of town, the 2020 A4 delivers the best of both worlds. With its full complement of new technology and cutting-edge design, the A4 gives you all the reasons for you to love it.

Grab the chance to enjoy the P1,000,000 discount of the awardwinning Audi A4 until October 31, 2019.

oring

sMirror

Friday, October 18, 2019

HE ALL-NEW COROLLA ALTIS

The vehicle’s flanks have a dynamic and active look, which further emphasizes the low center of gravity.

Those slim LED taillights matches the front end’s along with the bumper’s contour, as well. There’s also a

long and visible character line defines the flank’s belt line. Likewise, exclusive to the 1.8 V HV and 1.6V CVT variants are the machined finish 17-inch allow wheels.

As for the interior, it adopted a minimalistic design yet still provides that sophisticated and classy atmosphere. The fresh layout highlights the new center panel with clustered controls and the touch-operated head unit with smartphone mirroring function.

The top spec variant also gets a 7-inch information display, keyless entry, push start ignition, drive modes and EV mode, among others. But the simple and spacious cabin doesn’t compromise functionality and guarantees driver and passenger comfort.

As the new hybrid era begins, TMP fulfilled its drive to push for environment-friendly technology, particularly hybrid models.

This has been presented during the previously concluded Toyota Environmental Challenge 2050 conference. Now that the all-new Corolla Altis comes in a hybrid electric variant, this marks the first time that the Toyota hybrid technology is made available in a mainstream, high-volume model.

This further boosts Toyota’s drive to provide technologically advanced and sustainable mobility options to more Filipinos.

The 1.8V HV variant is powered by a 1.8-liter four-cylinder VVTi engine paired with an electric

motor. Combined, it generates 134 hp and 207 N-m of maximum torque. The powertrain even has three driving modes (Sport, Eco, Normal) in order to give the driver more control. The other variants, on the other hand, are fitted with a 1.6-liter four-cylinder engine with Dual VVT-I generating 121 hp and 153 N-m of maximum torque. Both are mated to a CVT with an option of a six-speed manual gearbox for the G and E grades.

Developed under the TNGA platform, the all-new Corolla Altis has significantly improved its agility, stability and visibility.

The lower center of gravity and improved suspension provide less roll and sharper vehicle response.

Also, visibility is now better due to the reduced cowl height, thinner

THE top spec variant’s 2ZR-FXE hybrid engine

instrument panel and repositioned mirrors. Further, improved sound insulation now provides quieter cabin and comfortable ride.

The all-new Corolla Altis is the second model to get the TSS. The TSS incorporates active safety features which identify factors that may cause accidents and aid the driver in prevention. These features include the Pre-Collision System (PCS), Lane Departure Alert (LDA), Adaptive Cruise Control (ACC), and Automatic High Beam (AHB). But several new features are introduced for the 1.8 V HV variant, such as the Lane Tracing Assist (LTA) and the Dynamic Radar Cruise Control (DRCC). In terms of other advanced safety features, all variants are equipped with seven SRS

air bags, Anti-Lock Brake System with Electronic Brake Force Distribution, Vehicle Stability Control, Hill Start Assist, and three-point Emergency Locking Retractor (ELR) seat belts for the driver and all passengers.

There’s also the high-strength frame of the vehicle adopts a body structure that is designed to absorb impact and disperse the collision energy to minimize cabin deformation in the event of a collision. Structure of the engine hood and cowl louver has also been developed to reduce impact energy to a pedestrian in the unlikely event of a collision.

Available colors for each variant and its respective price points are as follows: 1.8 V HV variant with White

The machined finish 17-inch alloy wheel (Hybrid and V)

E3

Pearl shade (P1.595 million), Celeste Gray Metallic, Attitude Black, Silver Metallic, and Red Mica Metallic (P1.580 million); 1.6 V CVT variant with White Pearl shade (P1.200 million), Celeste Gray Metallic, Attitude Black, Silver Metallic and Red Mica Metallic (P1.185 million); 1.6 G CVT variant with Super White and Celeste Gray Metallic shades (P1.115 million); 1.6 G MT variant with Attitude Black, Silver Metallic, and Red Mica Metallic shades (P1.045 million); 1.6 E MT variant with Super White, Attitude Black and Silver Metallic shades (P999,000). The all-new Corolla Altis will be available in all Toyota dealerships nationwide come September 21st.

Motoring BusinessMirror

E4 Friday, October 18, 2019

Hot Edsa traffic topic and Panelo panalo

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EW YORK CITY—Up to here, Edsa traffic is as hot a topic as Beautiful, the smash hit musical on the life and times of legendary composer-singer Carole King now playing on Broadway.

I just had to watch Beautiful at the vintage Stephen Sondheim Theater on 124 West 43rd Street if only because it was she who composed “You’ve Got a Friend,” best known as the song that catapulted James Taylor to stardom.

I never knew that Carole King made that song until I watched Beautiful, thanks to New Yorker

Chuchi Villaverde, the architectniece of writer-journalist Sol F. Juvida, who made it all possible.

Probably because I was all “Beatles, Beatles, Beatles” in my growing up years that I missed the magic of Carole King, who, although she started composing at the very tender age of 16, had rocketed to fame quite early in her writing-singing-

composing career.

Sorry to belabor you with this but modesty aside, I had been composing songs myself when I was a teenager (ahem!). Had I not pursued journalism, perhaps, I would have ended up as a composer—and a singer, as well (ahem again!)?

Indeed, no one can predict the future. If Nostradamus did—how he did it, I haven’t the faintest of ideas.

Anyways to continue, Beautiful was from the book Beautiful by Douglas McGrath. It was directed for Broadway by Marc Bruni, and the words and music were by Gerry Goffin and Carole King, and Barry Mann and Cynthia Weil.

The four are the best of friends.

Gerry, a brilliant lyricist, and Carole, the melody master and a gifted pianist, got married when Carole was a teenager.

They made good music together, but they broke up after having two kids—Gerry being a womanizer and breakdown-prone.

Their superhits included “So Far Away,” “You Make Me Feel Like a Natural Woman,” “Will You Still Love Me Tomorrow,” “Take Good Care of My Baby,” “It Might

As Well Rain Until September” and, of course, “Beautiful.”

One of the duo’s biggest hits is “Chains,” which was also recorded to soaring public adulation by Little Eva and her Cookies, and, yes, The Beatles themselves when The Beatles weren’t composing all of their songs yet in the 60s.

OK, you want more King stuff?

I also got to learn in Beautiful that it was Barry Mann who composed “You’ve Lost That Lovin’ Feeling,” a big Elvis Presley ditty, and “We Gotta Get Out of This Place,” a favorite of mine that was popularized by Eric Burdon and The Animals.

I can go on and on and on but let me end now by saying our orchestra seats that put us literally just a spitting distance away from the stage cost $135++ each (approximately P8,000). Not bad for a show that uplifted the soul once more—as Broadway productions have always been known to dish out performances with absolute beauty and professionalism.

To cap our magnificent, drama-filled day, Manhattan boy Kenneth Causon brought Sol and me to an Italian dinner at artsy Soho’s Cipriani after a 15-minute

or so Uber ride through the city’s mostly arrow-straight streets that weren’t as vehicle-filled as Edsa.

Motorists love to blow their horns here, especially the cabbies, so that it felt like I never left home at all while our Bangladeshi driver zigzagged his way around the city a.k.a. Manhattan. Yes, we skipped the subway, kept dirty(?) as usual by authorities or this isn’t your typical New York anymore. Trains run efficiently though, always, despite their being rickety and croaking noisily—a Nuyok trademark that is as old as the Statue of Liberty near Ellis Island.

OK, bye for now, and please, stop spreading the news. I love Broadway, yes, but never will I trade it with the eternal bliss of being in the land of my birth.

Home is where the heart is. nnn

Panelo panalo

BY accepting the CC (Commute Challenge), Salvador Panelo was doomed. It was a trap. The presidential spokesman should have known better. Getting to his destination in nearly four hours on board jeepneys had been a

foregone conclusion. But even if he had arrived in Malacañang from his Marikina home in less than an hour or so, he would have still found himself, to his dismay, getting crucified. Panelo panalo? Hello! Against a mob, one can never win. What was he trying to prove when he called the CC? That Manila is not mired in a traffic crisis? Shoot! Why would President Duterte ask for an emergency traffic power if there was none? Panelo panalo? Hello!

Why would a QC resident wake up at 3 a.m. to get to his Makati office before 8 a.m. Monday to Friday?

And that’s only barely 25 kms.

On a Good Friday, that’s only a 20-minute or so ride by car. So, had Panelo taken on the CC on a Good Friday, panalo?

You bet.

PEE STOP Even as I wrote this here in Frank Sinatra’s city that doesn’t sleep, I’d be home, hopefully, by the time you are reading this. I know I’ll be fully recharged by then, thank God—and have already played Carole King songs on vinyl with my old, reliable turntable. Nice to be with you again, fellers!

CTEK D250SA + Smartpass 120: Your off-road buddy

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HE popularity of 4x4 vehicles have steadily increased in recent years, largely attributed to the interest of local exploration. Overlanding became the new trend in on-road travel, an adventurer’s nod to road travel that used to be popular only in countries like Australia and the United States.

For those who are immersed, maintaining sufficient power supply is considered to be the single biggest challenges. The increasing issues of larger power requirements, together with restrictions on space and weight mean that whether it’s a 4x4 vehicle, a motor home, or any other RV with a service battery, owners are looking for smarter and more effective solutions to battery charging.

To meet these power demands, CTEK, the leading global brand in battery charging and maintenance, has the CTEK D250SA and the CTEK Smartpass 120, giving a combined charging solu-

tion that is safe and flexible.

The D250SA delivers 20A of power to charge, condition, and maintain any 12V lead-acid service battery while on the move. It is compatible with smart alternators, which means that the D250SA will still operate even if the alternator is shut off.

The D250SA also has a built-in temperature sensor that compensates for hot or cold conditions. This ensures that your batteries are fully charged in the shortest possible time without the risk of over or under charging. In addition, it allows for direct connection to solar power sources without the need for a regulator. It features a Maximum Power Point Tracker (MPPT) to get the maximum power out of the solar panels.

As a combo buddy to the D250SA, the Smartpass 120 is a fully automatic 120A power management system that distributes power between the starter battery,

the service battery, and your on-board equipment with the need for traditional diodes or VSR relays.

The Smartpass 120 features Dynamic Over Current Protection, providing outputs of up to 350A for up to 10 seconds when powering equipment that require more than 120A. It also has Current Source priority function, wherein it will supply power to critical equipment directly from the alternator when the engine is running. This ensures that critical functions like starters, radios, emergency lights and communication systems will always have the power needed.

The Smartpass 120 can also assist in starting up your engine if the starter battery is flat by drawing power from the service battery. And with battery temperature protection, it switches off charging when the service battery gets too hot.

To learn more, the official Facebook page is fb.com/CTEK.Ph.

The new D-Max goes to Mindanao

Joseph Bautista, division head of Sales, IPC (from left); Jockson Liu, president and general manager of Southern Motors of Davao Inc.; Isuzu Philippines President Hajime Koso and IPC Vice President for Sales, Yasuhiko Oyama

Continued from E1 The new D-Max now boasts of a stylish new exterior, as it now comes with a new redesigned front bumper and dark gray radiator grille, new side view mirrors, fender lip, cargo extender and roof rail that is guaranteed to turn heads wherever it goes.

Completing the three-day event was the special Mindanao launch, which displayed the new pickups inside the the mall’s atrium, giving the participants

the chance to take a closer look at the new D-Max. In his speech during the official launch in the evening of September 20th, IPC President Hajime Koso said, “The new DMax LS-A has a true character of a pickup.

Through this test-drive activity, we are able to showcase to the public its exceptional off-road capabilities, strong under chassis and powerful engine. Bringing this event in Davao is strategic, as we expect to comeback in the pickup segment, especially in this region.”

The new D-Max LS-A now comes in the following colors; Cosmic Black, Sapphire Blue, Titanium Silver, Red Spinel, Splash White and Silky Pearl White. IPC has also announced that will all the added features of the new D-Max, it will still be competitively priced.

To learn about the new Isuzu D-Max LS-A with all its new features and pricing, interested buyers may log on to www.isuzuphil.com or visit any of the Isuzu dealerships nationwide.