BusinessMirror October 22, 2018 by BusinessMirror

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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Monday, October 22, 2018 Vol. 14 No. 12

Cancel Boracay casino licenses, TF tells Pagcor By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Boracay Inter-Agency Task Force (BIATF) has requested the state-owned Philippine Amusement and Gaming Corp. (Pagcor) to pull the licenses of all casinos in the island paradise. The request, as contained in an undated letter sent to Pagcor Chairman Andrea D. Domingo, also covers casinos that operated before the closure of Boracay on April 26. The letter to Domingo,

a copy of which was obtained by the BusinessMirror, was signed by BIATF Chairman Environment Secretary Roy A. Cimatu, and Vice Chairmen Interior Officer in Charge Eduardo M. Año and

Tourism Secretary Bernadette Fatima Romulo Puyat. “In view of the pronouncement of President Rodrigo Roa Duterte that no casino shall be allowed in Boracay Island, and in the light of

The number of casinos—including those already in operation before Boracay’s shutdown—that will be impacted if the Pagcor grants the Boracay Task Force’s request to cancel all casino licenses on the island the mandate given to it through Executive Order [EO] No. 5, Series of 2018, the [BIATF] requests that any and all gaming franchise/s and/or provisional license/s in Boracay Island shall be canceled by your good office,” the letter said. See “Casino,” A2

@ReaCuBM

HE Department of Finance (DOF) is looking at different debt markets globally as possible sources of funding for the government, and a possible issuance of global bonds is being eyed this year, with the offer size between $1 billion and $2 billion. Finance Secretary Carlos G. Dominguez III told reporters that he has instructed the Bureau of the Treasury (BTr) to move ahead with the schedule for the issuance of Republic of the Philippines (ROP) bonds this year rather than the usual schedule, which is every

first month of the year, considering possible headwinds that can emerge globally. “I asked Lea [National Treasurer Rosalia V. de Leon] to please bring the schedule forward rather than wait for next year because of all the announcements and the uncertainties that are, I think, going to start impacting the market more. Better make the issuance program earlier rather than keep it at the end of January,” Dominguez explained. He stressed, though, that the issuance of ROP bonds this year will still depend on market conditions, adding that it will be a prefunding of the government.

PESO EXCHANGE RATES n US 53.9990

See “ROP,” A2

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 5 sections 30 pages | 7 DAYS A WEEK

Election Series #1: PPPs and public works ban Alberto C. Agra

ead

L AlbertoPPP C. Agra

AST Wednesday, October 17, candidates vying for national and local positions filed their certificates of candidacy. Soon, they will be covered by prohibitions and bans, which, if convicted, could bar them from voting and running for elective office, and even land them in jail. Continued on A11

ROP bond issuance may be front-loaded By Rea Cu

2017 EJAP JOURNALISM AWARDS

Peza chief floats GIE compromise By Elijah Felice E. Rosales

W LINEMEN FOR THE COUNTY Meralco linemen check out electric cables on Augusto Francisco Street in Manila, ahead of a scheduled power interruption beginning on Monday in the capital city. The Manila Electric Co. said it is expecting to post “slightly better” financial results for the nine-month period to September 2018, mainly on account of higher energy sales. It is expected to release its nine-month financial performance on October 29. Story in Companies, B1. ROY DOMINGO

@alyasjah

ILL the Department of Finance (DOF) consider this? The Philippine Economic Zone Authority (Peza) is amenable to increasing the gross income earned (GIE) rate to 7 percent, from 5 percent, as long as tax incentives are maintained. In a recent inter view with reporters, Peza Director General Charito B. Plaza said she is open to tweaking the GIE rate if it is the only way to maintain the incentive.

n JAPAN 0.4813 n UK 70.3013 n HK 6.8891 n CHINA 7.7823 n SINGAPORE 39.0844 n AUSTRALIA 38.3339 n EU 61.8505 n SAUDI ARABIA 14.3928

See “Peza,” A2

Source: BSP (19 October 2018 )

News

BusinessMirror

A2 Monday, October 22, 2018

Trigger mechanism for oil excise tax set for review N By Butch Fernandez

@butchfBM

OW that the Executive has informally concurred with Congress’s proposal to suspend the next-round hike in fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) law, the Senate Economic Affairs panel is poised to assess the impact of such suspension on inflation.

Panel chairman Sen. Sherwin T. Gatchalian said over the weekend he filed Senate Resolution 917 after President Duterte expressed his willingness to suspend the second tranche of the excise tax on fuel in 2019 to counter the effects of rising commodity prices. Suspending the 2019 round of excise tax hike is crucial, Gatchalian said, because of the “additional inflationary pressures” expected to come from various fronts in the coming months. He listed: higher global oil prices; minimum wage hikes granted starting October; higher airline fares due to fuel surcharge; additional fare hike petitions by buses, taxi and jeepneys; weather disruptions which usually come in the fourth quarter of the year; and the further weakening of the peso.

Fix suspension mechanism

ALSO on Sunday, Senator Gatchalian explained in a radio interview that when Congress resumes session on November 12, it will assess how to “fix the mechanism” provided for under the TRAIN law, on when and how to trigger the suspension of fuel excise tax hikes. “With three months consecutive global oil prices at $80 a barrel, you [DOF] can automatically

suspend. But if less than three months, you need a law to suspend,” Gatchalian noted. This was in reply to what happens to the TRAIN law proviso on the rate hike that imposes a “three-month rule,” but which President Duterte himself indicated he is willing to set aside, after 17 Majority senators wrote him on October 9. The senators, led by Senate President Vicente C. Sotto III, said that, given how a nine-year record inflation continues to gouge the bottomline of ordinary Filipino households, it might be best to suspend the scheduled additional rise in oil excise tax for January 1, 2019. “But the situation now is different, and we’re not following the ‘three months consecutive’ norm, because the President has already spoken, and agreed with Congress on the need to suspend. So we have to fix the mechanism—i.e., maybe lower the threshold from $80 a barrel to $70 a barrel—note that when it hit $70 dollars a barrel earlier, we were already hurting—or reduce the ‘three consecutive months’ rule to only two consecutive months,” Gatchalian said in a mix of English and Filipino. Asked if a quarter by quarter suspension might be considered, Gatchalian said, “not necessarily,”

but added it could be part of their study. He noted that “right now, oil prices are slowly declining—so, you can see it’s really fluctuating.” Republic Act 10936, or the TRAIN law, provides for the automatic suspension of the excise tax on fuel if Dubai crude averages $80 per barrel for three months. The law provides for the increase of excise tax rates on petroleum products such as gasoline and diesel in three tranches, from January 1, 2018, to January 1, 2020. In January 1 the law imposed an additional P2.50 per liter tax; on January 1, 2019, the law mandated another P2 a liter hike. He explained that the 17 senators felt compelled to write Duterte after the $80-a-barrel price in the world market ran for two months already, and “there was talk among some analysts it would hit $100 before year ends.” The senator noted as well that 70 percent of the fuel price hikes in the country owe, or are traceable to, the global oil prices, and the Philippines imports “nearly 100 percent of our oil requirements.” If the scheduled 2019 hike is suspended, “we estimate that at least 20-30 percent of the increase in oil prices for next year” could be avoided, he added.

Foregone revenue

MEANWHILE, Gatchalian sounded confident the government’s fiscal balance will not be impacted adversely, or its key projects imperiled, once the 2019 hike is suspended and the government foregoes over P40 billion in revenue, as earlier estimated by the Department of Finance. “I am 100 percent sure [the underspending going on here] is big. In 2017 underspending hit nearly P200 billion. So, if you increase rates to boost revenue but you’re

Casino. . .

Continued from A1

“We shall be grateful for your timely cooperation on this matter for the protection of one of our nation’s most treasured islands,” it added. Government sources said the three Cabinet secretaries signed the letter when they were on the island on September 28 for a task force meeting. If Pagcor grants said request, affected casinos are those planned by Macau’s Galaxy Entertainment Group in partnership with Rep. Albee Benitez’s Leisure Resorts World Corp., taipan Andrew Tan’s Megaworld Corp. in Savoy Hotel, and Hotel Soffia owner Archibald Po. Also impacted by the Duterte administration’s policy against casinos on Boracay are those casinos already operating before the island’s closure, such as in Movenpick Resort & Spa owned by juice king Alfredo Yao, Crown Regency Resort and Convention Center of the Cebu-based King family, and Paradise Garden Resort Hotel and Convention Center of entrepreneur Joey Peña. In Paradise Garden’s case, resort general manager Edwin M. Raymundo submitted a certification to the Department of Tourism (DOT) dated October 5, guaranteeing it “shall not undertake to operate any Casino and/or Online Gaming operations within its hotel/resort premises in compliance to the guidelines of the [BIATF] and/or [DOT].”After Paradise Garden issued said certification, the DOT accredited the resort and allowed it to accept guests in time for Boracay’s reopening on October 26. Prior to Boracay’s closure, the resort had been operating an online gaming operation. Movenpick has been asked by the DOT to submit a similar certification as part of its accreditation requirements, but has yet to do so.

Peza. . .

Continued from A1

The GIE, which is paid by firms registered in economic zones in lieu of local and national taxes, will be removed under the government’s plan to rationalize tax perks, and several quarters have warned the government that could trigger an exodus of investors out of the country. The twin planks—reduction of corporate income tax and rationalization of incentives, including GIE removal—are part of the second

A COPY of the letter to Pagcor Chairman Andrea Domingo from the Boracay Inter-Agency Task Force chaired by Environment Secretary Roy A. Cimatu. CONTRIBUTED PHOTO Meanwhile, Pagcor Officer in Charge Roderick R. Consolacion wrote Alpha Allied Holdings Ltd., which runs the casino in Movenpick, and ordered the company to “cease whatever remaining operations you may have in your casino in Boracay.” Government sources intimated that despite Boracay’s closure since April 26, junket casino operations continued to operate at Movenpick. “[The BIATF] conducted an investigation based on infor-

package of the tax-reform program, dubbed “Trabaho” bill in the House of Representatives, with Trabaho standing for Tax Reform for Attracting Better and High-Quality Opportunities. Plaza said she can give in to a 2-percent increase in the GIE rate if this compromise is enough for the DOF. She explained this will improve the collection of local governments, and could, in turn, benefit provincial governments. “We can increase [the GIE rate]. I’d like to increase it to 7 percent to expand the share of LGUs. Provincial governments do not have a share [in the GIE]. They complain because the

not spending it all, you only unduly burden the people,” the senator added. Still, he acknowledged, “if we lose the P40-billion revenue, we might imperil the projects, so we’re studying that very well.”

Inquiry after break

IN Resolution 917 that Gatchalian filed to assess exactly how suspending the 2019 round of excise tax hikes would impact on reducing inflation, he pointed out that “despite government efforts to mitigate the inflationary effects of the TRAIN law, prices of goods and services in the country continued to soar in September 2018 with the inflation rate recorded at 6.7 percent—the highest registered inflation in the last nine years and bringing the year-to-date inflation rate to 5 percent, well above the government’s target of 2-4 percent and breaching the 2018 inflation forecast of the Bangko Sentral ng Pilipinas [BSP] of 4.9 percent in August.” The senator noted that, based on the Department of Energy’s data as of September 25, domestic pump prices year-to-date have risen P9.40 per liter for gasoline and P9.35 per liter for diesel. He said “P2.65, or 28.2 percent of the price increase can be attributed to TRAIN, while P2.50, or 26.7 percent, is what it added to the price of diesel.”

Supply issues

GATCHALIAN reminded economic managers that oil is not the only driver of inflation, but that, as the rice shortfall and price spikes showed, supply is crucial. “If we suspend excise tax on fuel, but supply of rice still short, then the price of rice won’t go down yet. Same with other basic foods, we have to fix the supply of pork, vegetables, chicken,” continued Gatchalian, speaking partly in Filipino.

mation sent to its members and found that the casino in Movenpick never closed and continued to bring in guests,” the same sources averred. Junket operators usually bring in foreign VIP clients, and are paid a commission by the casino for their service. They also act as bankrollers, providing credit lines to the guest players. One of the most popular junket operators in the country, for instance, is Kim Wong, who regularly brings clients to Solaire Resort & Casino, Midas Hotel, etc. In 2016 he was linked to the $81-million Bangladesh Bank scandal, where unknown hackers breached that Central Bank’s accounts in New York, and then wired the money to a Philippine bank and to money remittance agents, and the funds were eventually laundered in casinos. Wong returned to Bangladesh the money he said he received in the transaction. Consolacion’s letter dated October 1 addressed to Alpha Allied General Manager Jose C. Ibazeta said, however, despite the order to close its casino operations, the company could still “[file] a letter of appeal directly to the Office of the President, if you deem proper.” The Pagcor official added: “The matter on the request for the cancellation of your license shall only be acted upon by the Board [of Directors] upon their return to the country.” President Duterte reiterated his policy against casinos on Boracay, including those already operating before its closure, during a Cabinet meeting on September 11. In an interview after the Cabinet meeting, DOT’s Romulo Puyat said, “I mentioned to him that there were casinos already operating prior to the closure of the island, and the President said, even those should not be allowed to reopen.” Justice Secretary Menardo I. Guevarra, she added, will be working with the BIATF to enforce this, “because the President already gave the directive.”

GIE benefits only the local municipality or city where the economic zone is located,” Plaza said in a mix of English and Filipino. She added locators are amenable to the increase. All they want, after all, is to keep the incentive in place. “Yes, they are amenable,” Plaza answered, when sought if stakeholders are open to the proposal. “We have been consulting our locators. They are amenable to increase it to 7 percent, as long as they do not return to paying the CIT [corporate income tax] because that is prone to corruption,” the Peza chief added.

However, she believes the government has to study closely how long locators can pay GIE instead of CIT. She said the government has to ensure that capital is returned first before a locator is stripped of its tax perks. “Let us study carefully what the government means when it says incentives have to be time-bound. We have to consider also their [locators] investment. The investor should have a return of investment [ROI] first. When they apply, for example, they have to tell us how many years will they have the ROI so that we can base it from there,” Plaza

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Saudi seen to cut 20% of aliens’ jobs By Samuel P. Medenilla

@sam_medenilla

EMAND for overseas Filipino workers (OFWs) in the Kingdom of Saudi Arabia (KSA) is expected to go down by at least 20 percent this year as Riyadh steps up the implementation of its labor nationalization policy. In an interview, Labor Secretary Silvestre H. Bello III said the deployment of OFWs in KSA could decline by as much as 30 percent. “This [the estimate] is for this year because of the Saudization program,” Bello said. In February the Department of Labor and Employment (DOLE) announced that the Saudi gover nment has intensif ied t he implementation of the program, which prioritized Saudi nationals in hiring for certain positions to address the rising unemployment rate in KSA. Bello said this was apparent from the predicament of the 1,470 OFWs in Al Khobar from a Saudi construction firm, Azmeel Contracting Corp. (ACC), which held a lock-out. ACC was reportedly unable to pay the salaries of its workers for four months as the company claimed that it has been snagging fewer projects. Bello said, however, that the DOLE received repor ts t h at ACC may be su f fer ing f rom mismanagement. He said the DOLE was able to secure the unpaid wages and repatriation of the affected OFWs, who appealed for help from Manila. “We committed to bring all of them

ROP. . .

home before Christmas.” While KSA’s demand for Filipino workers continues to dwindle, Bello said the DOLE does not expect any mass displacement of OFWs working in the Middle Eastern country. “Except for these situations wherein a company [in Saudi] suffers economic difficulty, OFWs [in Saudi] still received good pay,” Bello said. Based from its initial data, the Philippine Overseas Employment Administration (POEA) said the number of deployed OFWs in KSA last year declined to 417,811. The figure is 9.1 percent lower than the 460,121 recorded in 2016. Until demand for OFWs in KSA starts to pick up, Bello said they are now preparing alternative destinations for Filipinos who would like to work abroad. These alternative destinations include Germany, Japan and Israel. Bello also said they will encourage aspiring OFWs to consider local employment, particularly in the country’s booming construction sector. He said they hope the infrastructure construction spree of both the government and private sector will help minimize the number of Filipinos who work abroad. “Filipinos would usually prefer a local job over a job opportunity abroad, except if they are a highly skilled,” Bello said. By 2021, the DOLE chief said they anticipate the construction industry will minimize the deployment of OFWs abroad by 30 percent. As of 2016, the Philippines has deployed over 2.1 million OFWs.

“That will be the one, the 2019 [issuance], we are planning to do it earlier. But again [that] depends on market conditions. And then for the [European investors]...maybe another [one for the US market] next year,” he added. He said that the Philippine government is also looking at the euro market, adding that the country is getting invitations from different markets in Europe to conduct nondeal road shows. “I don’t know if we can finish the Euro [road show] this year but certainly next year,” he said. The finance chief pointed out that the Duterte administration is also looking to make a presentation for the Wealth Fund of Norway, in line with looking at the different markets in Europe. “I also told Lea maybe we should make a private presentation to the Wealth Fund of Norway. That’s the biggest in the world,” he said. Dominguez said that the government’s aim is for the Philippines to be present at major global markets for long periods of time. “We also told the other bankers that our policy now is not to be absent from any major market for long periods. The Samurai [market], we are going to come back within 12 to 18 months from August. In China, we will come back to the market again within 12 to 18 months from last March,” he added. In January this year, the Philippines successfully returned to the international capital markets with its offering of $2 billion new 10-year global bonds, with the bonds priced on a par with a coupon of 3.000 percent. Of the total new issuance, $1.25 billion was allocated to the participants of the Switch exercise, while the remaining $750 million was allocated to new money investors.

Citigroup and Standard Chartered Bank acted as dealer managers for the Switch exercise and acted as joint global coordinators for the global bond issuance. Citigroup, Credit Suisse, Deutsche Bank, Morgan Stanley, Standard Chartered Bank and UBS acted as joint deal managers and book runners for the issuance. In March this year, the country also became the first Association of Southeast Asian Nations (Asean) sovereign to issue Panda bonds amounting to 1.46 billion in renminbi, with the three-year debt paper fetching a coupon rate of 5.00 percent. Bank of China served as lead underwriter of the bond issuance, and Standard Chartered Bank as joint lead underwriter. In August this year, the government also issued Samurai bonds amounting to ¥154.2 billion ($1.39 billion), with the issuance marking the return of the Republic of the Philippines to the samurai market after an eight-year break, and the first time in almost 20 years that it has issued samurai bonds on a standalone basis. According to the DOF, the issued samurai bonds bore a three-, five- and 10-year tenor. The issue size for the three-year tenor was at ¥107.2 billion; for the five-year tenor bucket, ¥6.2 billion; and for the 10-year bond, ¥40.8 billion. The issuance also marked a coupon rate of 0.38 percent for the three-year tenor, 0.54 percent for the five-year IOU and 0.99 percent for the 10-year tenor bucket, which posted a 25-basis-point, 35-basis-point and 60-basis-point increase, in terms of pricing compared to benchmark rates, respectively. Daiwa Securities Co. Ltd., Mitsubishi UFJ Morgan Stanley Securities Co. Ltd., Mizuho Securities Co. Ltd., Nomura Securities Co. Ltd. and SMBC Nikko Securities Inc. acted as joint lead managers and book runners for the issuance of the placement.

explained. If a locator, say, came up with a new product, introduced a new technology or expanded operations to the countryside, Plaza said its incentives should be extended. Priority investment areas, too, must be given special consideration, she added. “This classification of industries, how much will be the ITH [income tax holiday], how many years will the ITH end or when do we add ITH if they introduce [a new product], it should be carefully evaluated and studied,” Plaza argued. Firms locating in economic zones are given ITH for the first four to six years of their

operations depending on the project. Once the ITH expires, they graduate to paying GIE. Under the Trabaho bill, CIT will be gradually reduced from 30 percent now to 20 percent in year 2029. On the other hand, it will overhaul incentives granted to firms registered in economic zones. The Trabaho bill’s component on incentive restructuring does not sit well with locators, as they will be compelled to pay CIT by 2021. As a matter of mitigation, industry leaders said they will have to lay off thousands of workers if their tax perks are removed.

Continued from A1

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Policemen bust airport kidnap ring at Naia Terminal 3 By Recto Mercene @rectomercene

OUR suspected members of the kidnap-for-ransom group were arrested late Friday night at a checkpoint leading to the Ninoy Aquino International Airport (Naia) Terminal 3 in Pasay City. The apprehension was made by the Airport Police Department (APD) and members of the Philippine National Police Anti-Kidnapping Group (PNP-AKG). APD chief (ret.) Brig. Gen Romeo L. Labador got wind of the incident from the son and daughter of the kidnap victim, who reported that their father would be released in exchange for an unspecified sum of money within the Naia premises. Labrador asked his men to coordinate with the AKG for a joint rescue operation. The rescue squad, led by APO3 Aldref Manuel, APO2 Nino Calma and APO1 Edzel Biag, were told to proceed to the VIP parking area of Naia Terminal 3 to discuss with the AKG the steps to be taken in order to arrest the suspects. The rescue group fanned out of the airport departure, the main arrival areas and in every checkpoint leading to the airport. They were told to inspect all vehicles passing through and bound for Terminal 3. At 10:55 p.m. last Friday, Labrador said the group eventually identified the vehicle of the suspected kidnappers approaching a Terminal 3 checkpoint area, a silver Toyota Innova bearing plate number ARA 3842. The group immediately blocked the car and asked the driver to step out of the vehicle. When the driver refused, the responding policemen forced the driver to get out of the car. Police searched the vehicle and found the kidnap victim, identified as Zhirong Lin, who was surrounded by the kidnappers. Labrador said, due to his poor health condition, Lin was immediately rushed to St. Lukes hospital by his son and daughter, escorted by the police. “Thankfully, there was no firefight because the kidnappers were outnumbered by the police operatives,” Labrador said. The suspects were brought to the APD headquarters for documentation. Labrador identified the suspects as Leizel Inojardo and Jayson Inojaldo, both Filipino nationals. Two other suspects, Luo Jianzhong and Luo Zhi Giang, both Chinese nationals, were turned over to the PNP-AKG for proper disposition, Labador said, adding that the AKG would conduct follow-up operations in Laguna in connection with the case.

Editor: Vittorio V. Vitug • Monday, October 22, 2018 A3

PNP to intensify counter ops vs Reds

HE Philippine National Police (PNP) leadership on Sunday alerted all field units to conduct intensified counter operations against members of the Communist Party of the Philippines-New People’s Army (CPP-NPA) following the recent attacks against police officers in various provinces.

On instructions of PNP chief Director General Oscar D. Albayalde, director for Operations Mao Aplasca, alerted all field units to conduct counter actions against the tactical offensive activities of the CPP-NPA, dubbed as “Koda Supermarket,” aimed at collecting more firearms and equipment from police and military targets through raids and ambuscades on various targets. The PNP said the increased activi-

ties by the communists could also be part of its “saber-rattling” tactics to project an image of strength to highlight the forthcoming CPP anniversary on December 26, and bolster its extortion activities in the forthcoming election season. Police maneuver forces in Negros Island, in coordination with the Armed Forces of the Philippines, launched a manhunt of a group of some 40 armed men who set on fire

a bulldozer and a back hoe owned by PhilSouth Construction in Barangay Bolisong, Manjuyod, Negros Oriental, in the evening of Octobert 18. No casualties were reported in the incident. Passengers of a commercial bus, who witnessed the incident, told police investigators that the armed men shouted “Mabuhay ang Bagong Hukbong Bayan” while setting the heavy equipment on fire. Investigators are looking into possible extortion attempt as motive for the incident. Local officials of Negros Oriental denounced the latest rebel attack, saying it is an obstacle to development because it stalled the ongoing road-works project of a vital farm-tomarket road in the province. “Those behind this crime are resisting entry of development in the countryside that would have ushered government presence and availability of goods and services that will benefit people in the barrios,” Albayalde said in a statement. In a separate incident, three po-

licemen were killed while three others were wounded in an ambush by suspected NPA rebels in Barangay Napolidan, Lupi, Camarines Sur, on October 18. The casualties were assigned as security escorts of Food and Drug Administration (FDA) Director General Nela Charade G. Puno. The Palace, through Presidential Legal Counsel and Spokesman Salvador S. Panelo condemned the attack. “We strongly denounce the ambush of Food and Drug Administration Director General Nela Charade G. Puno and her convoy in Camarines Sur, which left at least three policemen dead and three others wounded,” Panelo said in a statement.

Although Puno was left unharmed, Malacañang said she was been advised by authorities to defer attending the wake of the policemen. On October 16, suspected communist rebels also ambushed a group of policemen in Aurora that resulted in the death of PO2 Ronald Ruidera. “We condemn these latest acts of lawless terror by the local communist movement against symbols of government authority. We mourn their loss, but assure the ends of justice will be served,” Albayalde said. “This is not only an attack on the police, but an assault on a national agency that protects consumer welfare,” he added. PNA with Bernadette D. Nicolas

We condemn these latest acts of lawless terror by the local communist movement against symbols of government authority. We mourn their loss, but assure the ends of justice will be served.”—Albayalde

No venue yet for Asean-US naval exercise–DND Faeldon likely to decline BuCor post, says DOJ chief By Rene Acosta

By Joel R. San Juan @jrsanjuan1573

ORMER Customs chief Nicanor E. Faeldon has yet to assume his post as head of the Bureau of Corrections (BuCor) despite President Duterte’s announcement of his appointment. This was confirmed by Justice Secretary Menardo I. Guevarra, adding that BuCor Deputy Director General Melvin Ramon Buenafe has been designated as officer in charge of the agency until Faeldon reports for duty. “Mr. Faeldon has not assumed office as of today. I will confer with him as soon as he accepts the job and reports for work,” Guevarra said in a text message sent to reporters. Guevarra acknowledged that Faeldon may still beg off from assuming the post as he is currently serving as

deputy administrator for operations of the Office of Civil Defense. The BuCor is an agency under the supervision of the Department of Justice (DOJ). President Duterte earlier announced that he has chosen Faeldon to replace Philippine National Police chief Director General Roanld M. dela Rosa following the latter’s resignation and run a Senate slot in next year’s midterm elections. Faeldon, 53, was a former captain in the Philippine Marines when he participated in a mutiny against the Arroyo administration in 2003. Duterte appointed Faeldon as head of the Bureau of Customs after winning the elections but was forced to resign from his post last year after his name was dragged into the P6.4-billion shabu shipment from China that managed to slip past the agency.

HE 10-member Association of Southeast Asian Nations is yet to agree on where it will be holding the naval exercise with the US military as earlier agreed upon by regional defense officials through Singapore, which is this year’s host of the Asean. The venue for the military exercise agreed between Singapore Defense Minister Ng Eng Hen and US Defense Secretary James Mattis during the Asean-US Defense Ministers’ Informal Meeting held last week, would still be taken by a group from the Asean Defense Senior Officials Meeting (ADSOM), said Department of National Defense (DND) Assistant Secretary for Assessments and International Affairs Teodoro Cirilo Torralba. “No venue yet for the exercise but US was the one who requested an exercise with Asean,” said Torralba in a message to defense reporters sent through Prime Berunia of the DND public affairs service. “It will be finalized when Thailand convenes the ADSOM Working Group early next year. We will know where it will be taking place,” added Torralba. Washington’s proposal to train with the regional bloc comes as the the Asean navies conducts their

Labor group to file supplementary petition for higher workers’ pay By Samuel P. Medenilla

@sam_medenilla

N official of the Associated Labor Unions-Trade Union Congress of the Philippine (ALU-TUCP) over the weekend said that growing inflation may prompt his group to demand for higher workers’ pay in Metro Manila. In a media forum, ALU-TUCP Spokesman Alan Tanjusay said they will be submitting a supplementary petition before the Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPBNCR) today (Monday) to raise the amount of their previous wage petition to P334. In June the TUCP, the umbrella labor federation of ALU, filed for a P320 across-the-board pay hike for

@reneacostaBM

minimum-wage earners to cope with the effect of the 5.2-percent inflation that time. Tanjusay said the amount is no longer enough after nationwide inflation rate rose to 6.7 percent on September. ALU-TUCP Policy and Advocacy Officer Lois Oliva explained that P31.74 of their P334 wage petition aims to offset the lost value of minimum wage in Metro Manila. Based from the study conducted by ALU-TUCP, the “real” value of the P512 minimum-wage rate in the NCR for October is just P340, from P363 in the same period in 2017. Oliva said P51.20 of their new wage petition covers the expected increase in the cost of living until the next round of wage hike in NCR in 2019.

first-ever maritime training exercise with China beginning this week, which is being joined by the Philippine Navy by sending one of its ships. The weeklong exercise was originally slated from October 22 up to 29, and which excluded the US, will be held in Chinese waters, off the coast of Zhanjiang, China. The joint Chinese and Asean navy exercise was proposed by Beijing in February this year during the Asean Defense Ministers Meeting in Singapore, wherein it moved for the exclusion of the Asean’s other key regional security partners. The planned regional naval exercise with the US was seen as Washington’s response to the ChineseAsean war games. Meanwhile, the Philippine Navy will also accord honors to a visiting Indonesian Navy ship that will dock today (Monday) at Pier 15 in South Harbor, Manila. Navy Spokesman Commander Jonathan Zata said the Kri Bima Suci (945) will be in the country for a three-day goodwill visit. Zata said the Navy will also render an arrival ceremony for the 300-man contingent onboard the BRP Tarlac (LD 601), which is arriving from a port visit in Vladivostok, Russia.

Big-time gas, diesel pump price rollback on Monday

UMP prices are set to go down for the second week in a row, but this time private motorists will be the big winners owing to a big drop in the price of unleaded gasoline effective 6 a.m. today (Monday). At least one oil firm disclosed as early as Saturday afternoon that gasoline prices are going down by P1.85 per liter, while diesel will be rolled back by a more modest P0.90 per liter. This follows downward price adjustments of P0.85/liter of gasoline and P0.65/liter of diesel implemented on October 15. An oil executive said a big time rollback in diesel prices will likely make more of an impact because it fuels mass transpor-

tation, while gasoline is used mainly by private vehicle owners. Nonetheless, any rollback in the prices of petroleum products is a welcome development, especially if it turns out to be sustainable, the executive added. However, the oil executive added that, while the latest figures on oil market futures forecast substantial softening in world crude prices next year, it remains to be seen what direction it will take before year-end, as winter season in Europe and North America creeps in. International prices of oil cyclically shoots up during winter due to a big demand for heating fuel, it was explained. PNA

A4 Monday, October 22, 2018 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

DOF chief: Full stream ahead for ‘BBB’ infra projects despite global headwinds By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) has reaffirmed the Duterte administration’s commitment to pursue its ambitious “Build, Build, Build” (BBB)

infrastructure program despite global headwinds that beset the Philippines. During the visit of a Philippine delegation in Bali, Indonesia, early this month, Finance Secretary Carlos G. Dominguez III pointed out that

the headwinds that the Philippine economy is now facing include sharply rising prices of oil in the world market which, he stressed, is among the factors pushing up inflation. He told top executives of Standard Chartered Bank that concerns over the escalating trade dispute between the United States and China, as well as the US Federal Reserve System’s “aggressive” stance on monetary policy normalization through interest rate hikes, are also among these headwinds. The finance chief met with Standard Chartered’s Karby Leggett, managing director for Asia and Public Sector Head, and Paul Skelton,

global head for Global Banking and Institutional Banking Head, on the sidelines of the Annual Meeting of the World Bank Board of Governors in Bali, Indonesia. Dominguez told Leggett and Skelton that despite these challenges to the Philippine economy, “the BBB program is doing very well, with the Philippine government expanding its inventory of big-ticket assets that future administrations can later privatize to raise funds for its own priority programs.” He cited as an example the New Bohol International Airport, which is located in the tourist island of Panglao in Central Visayas that began implementation in 2015, but was only 5 percent completed by the time President Duterte assumed office a year later. The original completion date for the airport during the previous administration was in 2021, which under President Duterte was moved up to 2018. As a result of the advanced

schedule, the airport is now set to be launched before the end of this year. “We are building up our assets which some future governments, when they need the money, which I’m sure they will, can opt to sell,” Dominguez said. Leggett pointed out that the Philippines’s foreign exchange reserves remain strong, as well as the pace of gross domestic product growth, with only the current account deficit falling behind. He said this was understandable considering the massive importation of capital goods needed for the country’s infrastructure modernization program. Overall, Leggett said, the longterm outlook for the Philippine economy is “extremely positive.” The BBB program of the Duterte administration consists of 75 flagship infrastructure projects, which is envisioned to usher in the “golden age of infrastructure” in the Philippines.

Uncertainties may signal higher crude price–experts By Bernadette D. Nicolas

@BNicolasBM

MID greater global uncertainties, oil prices in the global market may still rise further in the coming months, analysts warned. This, even as crude prices have recently been moderated with the increase in the output of the Organization of the Petroleum Exporting Countries (Opec) to make up for the production shortfalls in Iran and Venezuela. “Global oil markets are so uncertain now,” IBON Executive Director Jose Enrique A. Africa told the BusinessMirror. “Prices can still go up if those production shortfalls deepen in the coming months. Geopolitical tensions around Iran, Saudi Arabia and Turkey or even around Libya and Nigeria can also worsen. Amid such uncertainty, we expect that prices will tend to rise more than go down.” The Department of Finance (DOF) pointed out last week that uncertainties in the global economy arising from the trade war between the United States and China, among others, had led to the volatility in world crude oil prices. This was after the Dubai crude price dropped 2.9 percent to $80.188 per barrel on October 12, from $82.577 per barrel on October 8 this year. Dubai crude oil futures are also seen to dip from November to April, based on DOF data. However, former Socioeconomic Planning Secretary Romulo V. Neri warned that “the Khashoggi affair put oil prices under greater uncertainty” and may increase the likelihood that oil prices will still hit $80 per barrel in the coming months. International reports said oil prices are feared to rise in the global market in the killing of Saudi journalist and US resident Jamal Khashoggi inside the consulate office in Istanbul. The Saudi government has admitted that Khashoggi was killed inside the Saudi consulate. However, Neri said this still depends on how the issue will be handled. “They’re dribbling the ball so far,” Neri told the BusinessMirror.

But Maria Ella C. Oplas, economics professor at De La Salle University, sees the oil prices going down because of the huge output from the US. “If you look at US output, you will know that they will swamp the market bringing the price down,” Oplas said. The Tax Reform for Acceleration and Inclusion (TRAIN) law provides that: “For the period covering 2018 to 2020, the scheduled increase in the excise tax on fuel as imposed in this section shall be suspended when the average Dubai crude oil price based on Mean of Platts Singapore [MOPS] for three months prior to the scheduled increase of the month reaches, or exceeds $80 per barrel.” Nonetheless, Africa urged the DOF and the Department of Energy (DOE) to be more transparent in sharing their assessment on whether the trigger price of $80 per barrel of Dubai crude has been breached yet. “They can also be more explicit about whether they are really just narrowly looking at the dollar price of oil or, as is more, sensible, converting into its peso terms,” he said, noting that they estimated that the trigger price at $80 per barrel equivalent to P4,032 has already been breached in September and in October at P4,037 per barrel and P4,258 per barrel to date, respectively. “At this rate, the September to November period should already be enough to suspend the next tranche of [increase in] oil [excise] taxes, according to TRAIN’s limited suspension mechanism,” he added. Due to the continuing increases in fuel prices, the Land Transportation Franchising and Regulatory Board has green lighted the increase of jeepney fares to P10, from the provisional P9. They have also approved the approved the P1 fare adjustment for ordinary buses in Metro Manila from P10 to P11 and, from P12 to P13 for air-conditioned bus while its per-kilometer charge of P2.30 remained. However, these adjustments will only take effect 15 days after publication. This, as September inflation surged to a new nine-year high at 6.7 percent.

Senate panel reviews process for selecting 3rd telco By Butch Fernandez @butchfBM

ENATOR S a re set to review today (Monday) the process for selecting a third major telecommunications provider billed to break up the Smart-Globe duopoly. Sen. Grace Poe, who chairs the Senate Public Ser vices Committee, confirmed over the weekend the panel is set to convene an initial hearing to get updates on the “status of talks” for the entry, as well as the process of selecting the third telco. Among those reported as “ interested parties” looking to compete with the duopoly are: NOW Cor p., Converge ICT Solutions and Philippine Te l e g r a ph a nd Te l e pho ne Cor p. T he “explanator y” hearing, set to open at 10 a.m., was also convened to enable senators to assess the need for remedial legislation in the wake of reports that the Philippines has one of the most expensive mobile and data rates, even as the country is ranked near the bottom in Internet speed. Apart from the telco players, also called to update senators on ongoing talks for the entry of a third telco are Department of Information and Communications Technology (DICT) Acting Secretary Eliseo M. Rio Jr., National Telecommunications Commission (NTC) Chairman Gamaliel Cordoba, Securities and Exchange Commission Chairman Emilio Aquino, Philippine Comp e t it ion Com m i s s ion Chairman Arsenio M. Balisacan, Socioeconomic Planning Secretary Ernesto M. Pernia and Science Secretary Fortunato T. de la Peña. In a news statement, Poe pointed out that the Senate panel, exercising oversight powers, will seek an appraisal of latest “developments surrounding the much-awaited entry of the country’s next telco player in anticipation of the reported award next month.” The senator affirmed her committee’s determination to “play a major role in tackling the congressional franchise of the applicant.” She stressed that the Philippines need to have “meaningful competition in public utilities like telecommunications that will translate to lower costs and better service.” Apart from the interested telco players, also expected to appear at the Senate hearing are government regulators from the DICT and the NTC.

Neda identifies ‘actual problem projects’ in 2017 By Cai U. Ordinario

@cuo_bm

HANDFUL of agriculture, infrastructure and environment projects funded by official development assistance (ODA) were identified as “actual problem projects” in 2017, according to the National Economic and Development Authority (Neda). In its ODA Portfolio Review report, the Neda said these 13 ODA projects include six agriculture projects, four infrastructure and three environment-related projects. The nine most problematic of these projects are in agriculture and environment and include projects such as the Jalaur River Multipurpose Irrigation Project II, which contributed the most to the year-end availment backlog. The Jalaur River Multipurpose Irrigation Project Phase II contributed $202.23 million, or 13 percent of the total availment backlog as of December 2017.

“About 47 percent [$709.61 million] of the recorded availment backlog as of December 2017 was attributed to 12 actual problem projects,” the Neda said. These actual problem projects have disbursement rates of 50 percent for at least a year and have low utilization rates; encounter delays in major activities for at least six months, among others. They have a significant impact on availment rate, or the cumulative actual disbursements as a percentage of the scheduled disbursement. The other actual problem projects included in the list are the Agrarian Reform Communities Project (ARCP) II; Convergence on Value Chain Enhancement for Rural Growth and Empowerment; Fisheries, Coastal Resources, and Livelihood Project; and Forestland Management Project (FMP). These projects experienced delays and slow project start-ups. In terms of the ARCP, the Department of Agrarian Reform (DAR)

sought partial loan cancellation due to the withdrawal of local government units and the reallocation of the $785,526.85 initially for civil works to consulting services but these requests were not granted. “[The] DOF [Department of Finance] advised the DAR to utilize the remaining loan proceeds for individual land titling. The DAR proceeded to implement the project using existing allocation,” the Neda said. In terms of the Convergence on Value Chain Enhancement for Rural Growth and Empowerment Fisheries, Coastal Resources, and Livelihood Project, and FMP, the Neda could not provide any update and the report only provided the reasons for the delays. For the ARCP, the Neda said there was limited information of the agrarian-reform beneficiaries organizations on value-chain system and limited technical capacity on the part of the local government units.

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

The World BusinessMirror

Monday, October 22, 2018

Trump says US to leave nuclear treaty with Russia By Zeke Miller & Michael Balsamo

The Associated Press

LKO, Nevada—President Donald J. Trump said on Saturday that he will exit a landmark arms-control agreement the United States signed with the former Soviet Union, saying that Russia is violating the pact and it’s preventing the US from developing new weapons. The 1987 pact, which helps protect the security of the US and its allies in Europe and the Far East, prohibits the United States and Russia from possessing, producing or test-flying a ground-launched cruise missile with a range of 300 to 3,400 miles. “Russia has violated the agreement. They have been violating it for many years,” Trump said after a rally in Elko, Nevada. “And we’re not going to let them violate a nuclear agreement and go out and do weapons and we’re not allowed to.” The agreement has constrained the US from developing new weapons, but America will begin developing them unless Russia and China agree not to possess or develop the weapons, Trump said. China is not

currently party to the pact. “We’ll have to develop those weapons, unless Russia comes to us and China comes to us and they all come to us and say let’s really get smart and let’s none of us develop those weapons, but if Russia’s doing it and if China’s doing it, and we’re adhering to the agreement, that’s unacceptable,” he said. Nat ion a l Sec u r it y Adv iser Joh n B olton w a s headed on Saturday to Russia, Azerbaijan, Armenia and Georgia. His first stop is Moscow, where he’ll meet with Russian leaders, including Foreign Minister Sergei Lavrov and Security Council Secretary Ni kol a i Pat r u she v. Hi s v i sit comes at a time when Moscow-

PRESIDENT Donald J. Trump speaks to media before boarding Air Force One at Elko Regional Airport on Saturday in Elko, Nevada, after a campaign rally. AP

We are slowly slipping back to the situation of Cold War as it was at the end of the Soviet Union, with quite similar consequences, but now it could be worse because [Russian President Vladimir] Putin belongs to a generation that had no war under its belt. These people aren’t as much fearful of a war as people of Brezhnev’s epoch. They think if they threaten the West properly, it gets scared.”—Oreshkin Washington relations also remain frosty over the Ukrainian crisis, the war in Syria and allegations of Russian meddling in

the 2016 presidential race and upcoming US midterm elections. T here w a s no i m me d i ate comment from the Kremlin or

the Russian Foreign Ministry on Trump’s announcement. Trump didn’t provide details about violations, but in 2017, White House national security officia ls said Russia had deployed a cruise missile in violation of the treaty. Earlier, the Obama administration accused the Russians of violating the pact by developing and testing a prohibited cruise missile. Russia has repeatedly denied that it has violated the treaty and has accused the US of not being in compliance. Defense Secretary James Mattis has previously suggested that a Trump administration proposal to add a sea-launched cruise missile to America’s nuclear arsenal could provide the US with leverage to try to convince Russia to come back in line on the arms treaty. Russia’s Foreign Ministry said in Februar y that the countr y would only consider using nuclear weapons in response to an attack involving nuclear or other weapons of mass destruction, or in response to a nonnuclear assault that endangered the survival of the Russian nation. “We are slowly slipping back to the situation of Cold War as it was at the end of the Soviet Union, with quite similar consequences, but now it could be worse because [Russian President Vladimir] Putin belongs to a generation that had no war under its belt,” said Dmitry Oreshkin, an independent Russian political analyst. “These people

aren’t as much fearful of a war as people of Brezhnev’s epoch. They think if they threaten the West properly, it gets scared.” Trump’s decision could be controversial with European allies and others who see value in the treaty, said Steven Pifer, a former US ambassador to Ukraine and now a senior fellow at the Brookings Institution who focuses on nuclear arms control. “Once the United States withdraws from the treaty, there is no reason for Russia to even pretend it is observing the limits,” he wrote in a post on the organization’s web site. “Moscow will be free to deploy the 9M729 cruise missile, and an intermediate-range ballistic missile if it wants, without any restraint.” US officials have previously alleged that Russia violated the treaty by deliberately deploying a land-based cruise missile in order to pose a threat to the North Atlantic Treaty Organization. Russia has claimed that US missile defenses violate the pact. In the past, the Obama administration worked to convince Moscow to respect the Intermediate-range Nuclear Forces treaty but made little progress. If they get smart and if others get smart and they say let’s not develop these horrible nuclear weapons, I would be extremely happy with that, but as long as somebody’s violating the agreement, we’re not going to be the only ones to adhere to it,” Trump said.

Monday, October 22, 2018 • Editor: Angel R. Calso

The World BusinessMirror

Khashoggi crisis tests Saudi prince’s firm grip on power

AUDI Crown Prince Mohammed bin Salman has positioned himself as the future ruler of the world’s largest oil supplier for decades to come. Now, that leadership path is on shakier ground. The widening fallout from the death of Jamal Khashoggi, the Washington-based Saudi journalist, inside Saudi Arabia’s consulate in Istanbul has raised questions about whether the crown prince can maintain his grip on all levers of power in the kingdom or if he’ll be checked by his father, or even rivals. It took 17 days for Saudi Arabia to admit that Khashoggi, a frequent critic of the regime who went into self-exile, was dead. The day after he went missing, Prince Mohammed told Bloomberg News that Khashoggi had left the consulate on his own. Now the government says he died after “discussions” between him and other people at the consulate turned physical. The Saudis say 18 people are detained in the continuing probe. The slow response, amid a torrent of intelligence leaks from Turkish authorities about Khashoggi’s death and alleged torture and dismemberment, have severely bruised Prince Mohammed’s reputation at home and abroad as a modernizing reformer in Saudi Arabia.

‘A cocoon’

“HE must be in a cocoon to think he could possibly bluff his way out,” said Paul Sullivan, a Middle East expert at Georgetown University’s Center for Security Studies. “There are likely to be increased pressures and efforts within the power centers of Saudi Arabia to put checks on more of his impulses.” Any signs that King Salman, 82, would curb his son’s powers would put into question the ambitious plans pursued by Prince Mohammed. Those include his effort to overhaul the Saudi economy, as well as his aggressive foreign policy that has led the kingdom into a quagmire in Yemen and a lingering diplomatic and financial dispute with Qatar. The king’s latest moves, however, gave Prince Mohammed, known as MBS, a key responsibility: overseeing a committee charged with restructuring the kingdom’s intelligence agency, faulted in Khashoggi’s death. That suggests King Salman “still believes that the current line of succession is

suitable,” the Eurasia Group said in a report on Friday night.

‘Course correcting’

“THESE moves might be read as a serious initial signal that the Saudi leadership is course correcting,” according to the report by Eurasia analyst Ayham Kamel. That course correction shows that King Salman had to exercise a strong hand to resolve the crisis, following a period in which Prince Mohammed appeared to be the country’s de facto ruler. “I suspect what will happen is MBS gets his wings clipped informally,” said James M. Dorsey, a Middle East scholar at Nanyang Technological University in Singapore. “There has been a lot of maneuvering in the royal family and the business community, saying things can’t go on. The king has to shoulder a lot more.” The inner workings of the royal family are almost always a black box, impossible to predict. Usually the House of Saud closes ranks during a crisis but this time may be different: the 33-year-old Prince Mohammed already alienated other family members in his pursuit of power by detaining princes in his alleged crackdown on corruption last year and sidelining more senior royals.

Potential replacements

MOREOVER, there are few candidates to replace Prince Mohammed: former Crown Prince Muhammad bin Nayef, known as MBN, and the crown prince’s brother Khalid are potential, but unlikely, substitutes. Prince Khalid is the kingdom’s ambassador to the US, who returned to Saudi Arabia soon after Khashoggi went missing. “I cannot see plausible alternatives,” said Neil Partrick, a researcher who specializes in Saudi affairs. “Resuming MBN would, for Salman, be an acknowledgment of the utter failure of what he’s sanctioned since becoming king. Appointing MBS’s younger and full brother Khalid would hardly signal a break and may raise questions about whether MBS had really de-

parted.” The Saudi findings on Khashoggi’s death may not ease pressure on the Trump administration, even though the president said he found the report credible. Lawmakers from both parties were quick to question the Saudi probe after earlier in the week threatening to sanction Riyadh. “The story the Saudis have told about Jamal Khashoggi’s disappearance continues to change with each passing day, so we should not assume their latest story holds water,” Republican Senator Bob Corker, who chairs the Foreign Relations panel, said on Twitter. The Saudi report is also unlikely to convince world and business leaders who pulled out of the country’s Future Investment Initiative forum next week to return. Treasury Secretary Steven Mnuchin was among those who withdrew in recent days.

Credible report

WHATEVER the long-term impact, the crisis has slowed what had been Prince Mohammed’s rapid rise to power after his father ascended to the throne in January 2015 following the death of King Abdullah bin Abdulaziz Al Saud. Three months later, King Salman appointed his son deputy crown prince. Then in 2017, his father designated him as crown prince, paving his way to the throne. The international business community praised the appointment at the time. His designation was intended to cement the ascent of a younger generation of princes in a country traditionally ruled by aging sons of the kingdom’s founder. Pr ince Moh a mmed moved quickly to consolidate power, detaining dozens of prominent local entrepreneurs as part of a supposed crackdown on graft. Abroad, the government launched a boycott of Qatar, and got embroiled in disputes with Germany and Canada that threatened commercial deals with those countries. Now the crown prince may find he has to lean more on the legitimacy of his father, the king, without worrying too much about losing all control.

“Saudi propaganda, with MBS’s connivance, will increasingly emphasize King Salman’s promotion of caution,” Partrick said. “This, and the related lack of any plausible replacement for the current Saudi leadership configuration, will probably prevent MBS’s downfall.”

“Some of the promises made two years ago, clearly have not materialized,” London Mayor Sadiq Khan said in a video on the group’s web site before the march. “Nobody was talking about a bad Brexit deal, nobody was talking about no deal whatsoever. The British public should have a say on whether they accept the outcome of those negotiations, with the option of staying in the EU.”

AS chief executive of the world’s biggest asset manager, Larry Fink began the year with a call to the thousands of companies that the firm holds stakes in: Show how they make a “positive contribution to society.” Now Fink ’s BlackRock Inc., overseeing more than $6 trillion of other people’s money, is facing a comparable challenge, stuck between conscience and the implacable demands of the bottom line. While BlackRock and the rest of the financial industry have targeted Saudi Arabia as a massive revenue generator, they were compelled to act in the wake of reports that US-based journalist Jamal Khashoggi was allegedly killed inside the Saudi consulate in Istanbul. On Saturday the Saudi government confirmed that Khashoggi had died after an argument at the consulate. “The world for businesses is not black and white,” Fink said in an interview on Tuesday. If history is any guide, human rights have never been too persuasive in Wall Street’s calculus. Libya provides a recent example. Once western governments lifted sanctions on Moammar Qaddafi, bankers quickly rushed in, overlooking the brutality of his regime.

Economic summit

IN Saudi Arabia, the response by industry leaders including Fink, Blackstone Group LP ’s Steve Schwarzman and JPMorgan Chase & Co.’s Jamie Dimon has been to pull out of an economic summit in Riyadh next week, an event meant to showcase the reform efforts of Crown Prince Mohammed bin Salman. More joined the list on Friday, including Colony Capital Inc. Chairman Thomas Barrack and Deutsche Bank AG Chief Executive Officer Christian Sewing. Bloomberg News

I suspect what will happen is MBS [Prince Mohammed bin Salman] gets his wings clipped informally. There has been a lot of maneuvering in the royal family and the business community, saying things can’t go on. The king has to shoulder a lot more.”—Dorsey

Fierce debate

IN a video shown at the event, Scotland’s First Minister Nicola Sturgeon said her Scottish National Party supports a people’s vote. “There’s no deal, none, that provides all of the same benefits as EU membership,” she said. The UK and EU have missed several deadlines to forge a divorce agreement, reinforcing the stance of so-called hard Brexiteers who argue that crashing out of the EU without a deal is preferable to yielding to the bloc’s demands. Pro-EU campaigners argue that the British public has been misled with false promises, and that a hard Brexit will leave everyone worse off. Participants in the march, who in-

cluded teenagers to the elderly, chanted, “Hey Hey Theresa May, give us all a final say” as they walked along the route through central London. Marchers held up banners suggesting they came from all corners of the country, while others were Spanish, French and Italian.

Brexit fears

THE negotiations so far have been “full of incompetence by the British government,”said one protester, Julie Sirvent, 35, a French national who works in oil and gas project management and has lived in the UK since 2014. “It’s been appalling how badly it’s being handled. I think I am at the point that anything I can do, so that the people have the final say, I will do it.” Another protester, Jeremy, who declined to give his second name, said he feared Brexit would turn out to be a “disaster” for Britain. “We all want what’s best for this country and we are the true patriots,” he said. “I just don’t see the point. It’s almost like losing your biggest trading partner to go and start trading completely on your own. You know, you’ve gone from having a deal with somebody like Tesco to being

Migrants paddle into Mexico, vow to reach America

Ethics, cash struggle

Marchers demand Brexit vote as thousands gather in London EOPLE from across the UK gathered on a sunny Saturday afternoon in London to take part in what may be the biggest public protest over Brexit since the referendum in 2016. The march, which organizers estimated drew 700,000 people to west London’s Park Lane, was called by People’s Vote, a group that’s campaigning for the public to have a say on any final Brexit deal, so that the ruling Conservative government can’t force it through Parliament. “We believe Brexit can be stopped,” Vince Cable, leader of the Liberal Democrat party, said in a speech during the march, which included a rally across the street from the Houses of Parliament. “Only the people can resolve this mess.” A summit of European Union leaders in Brussels this week, which was slated to be the meeting at which an exit agreement would be struck, instead ended with major hurdles still to be overcome. As the March 29, 2019, deadline for Britain to officially leave the EU draws ever closer, the twists and turns in negotiations have the general public divided, investors and businesses anxious and the volatile pound weaker.

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a corner shop.” Prime Minister May is now said to be ready to drop one of her key Brexit demands on the contentious issue of the Irish border to clear the path to a deal, according to people familiar with the matter. Until now, May has insisted that a legal guarantee to ensure no new border emerges on the island of Ireland should be strictly limited in time, to avoid delaying the UK’s departure and to ensure the country is free from EU customs rules to strike its own trade deals. But the EU has rejected her stance and talks have been stuck for months, and now May and her team of Brexit advisers accept the EU’s point that it must be open-ended, for an “enduring” solution, one of the people said. The proposal is for the whole UK to stay tied to EU customs rules as a so-called backstop— or guarantee clause. While the proposal may be welcomed by the EU and businesses, May’s compromise may mean that Britain would end up bound indefinitely to the EU’s customs rules, which could spark a revolt within May’s own cabinet and throw her political future into doubt. Bloomberg News

A GROUP of migrants rests at the central park in Ciudad Hidalgo, Mexico, on Saturday. About 2,000 Central American migrants who circumvented Mexican police at a border bridge and swam, forded and floated across the river from Guatemala decided on Saturday to reform their mass caravan and continue their trek northward toward the United States. AP

IUDAD HIDALGO, Mexico—Despite Mexican efforts to stop them at the border, about 2,000 Central American migrants swam or rafted across a river separating that country from Guatemala, reformed their mass caravan in Mexico and vowed to resume their journey toward the United States. The migrants, who said they gave up trying to enter Mexico legally because the asylum application process was too slow, gathered on Saturday at a park in the border city of Ciudad Hidalgo. They voted by a show of hands to continue north en masse, then marched to the bridge crossing the Suchiate River and urged those still on it to come join them. “We are going to reach the United States,” said Erasmo Duarte, a migrant from Danli, Honduras, despite warnings to turn back this week from US President Donald J. Trump, who has sought to make the caravan and border security in general into a campaign issue a little over two weeks before midterm elections. The decision to reform the migrant caravan capped a day in which Mexican authorities again refused mass entry to migrants on the bridge, instead accepting small groups for asylum processing and giving out 45-day visitor permits to some of them. Authorities handed out numbers for people to be processed in a strategy seen before at US border posts when dealing with large numbers of migrants. But many became impatient, and circumventing the border gate, swarmed across the river on rafts, swimming or wading in full view of the hundreds of Mexican police manning the blockade on the bridge. Some paid locals the equivalent of $1.25 to ferry them across the muddy waters. They were not detained on reaching the Mexican bank. “We couldn’t wait because we had already waited too long and they only told us lies,” said Duarte, who joined the caravan with his wife and children six days ago. Sairy Bueso, a 24-year-old Honduran mother of two, was another migrant who abandoned the bridge and crossed into Mexico via the river. She clutched her 2-year-old daughter Dayani, who had recently had a heart operation, as she got off a raft. “The girl suffered greatly because of all the people crowded” on the bridge, Bueso said. “There are risks that we must take for the good of our children.” Group leaders said the caravan, which will be smaller than the original one, would strike out Sunday morning for the city of Tapachula. Where easily 3,000 people were on the bridge the previous day, the crowd had thinned out considerably by Saturday. In addition to those who crossed the river, immigration agents processed migrants in small groups and then bused them to an open-air, metal-roof fairground in Tapachula, where the Red Cross set up small blue tents on the concrete floor. Each time a small side gate opened to allow people to pass for processing, there was a crush of bodies as migrants desperately pushed forward. Scarleth Cruz hoisted a crying, sweat-soaked baby girl above the crowd, crying out: “This girl is suffocating.” Cruz, 20, said she was going to ask for political asylum because of threats and repression she faced back in Honduras from President Juan Orlando Hernandez’s governing party. “Why would I want to go to the United States if I’m going to be persecuted” there as well, she said. Mexico’s Interior Department said in a statement that it had received 640 refugee requests by Hondurans at the border crossing. It released photos of migrants getting off buses at a shelter and receiving food and medical attention. At least half-a-dozen migrants fainted. Some tore open a fence on the Guatemala side of the bridge and threw two young children, perhaps age 6 or 7, and their mother into the muddy waters about 40 feet below. They were rafted to safety in on the Mexican bank. Mexican workers handed food and bottled water to the migrants on the bridge. Through the bars, a doctor gave medical attention to a woman who feared her young son was running a fever. Sustenance also came from Guatemalan locals—for Carlos Martinez, a 24-year-old from Santa Barbara, Honduras, the plate of chicken with rice was the first bite to eat he’d had all day. “It is a blessing that they have given us food,” Martinez said. “It gives me courage to keep waiting, as long as I can.” Migrants cited widespread poverty and gang violence in Honduras, one of the world’s deadliest nations by homicide rate, as their reasons for joining the caravan. “One cannot live back there,” said Fidelina Vasquez, a grandmother traveling with her daughter and 2-year-old grandson, standing next to the main border gate. AP

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Govt shells out ₧119 billion for August debt payment

By Rea Cu @ReaCuBM

HE national government shelled out nearly P119 billion as payment for some of its debt for the month of August, with amortization outpacing interest payments, latest data from the Bureau of the Treasury (BTr) showed. According to the BTr data, the government has shelled out P118.836 billion for the month of August in line with debt servicing. The amount is 62.42 percent higher than the payments the national government made during the same month last year of P73.168 billion.

Broken down, amortization accounted for P90.535 billion, while interest pay ments compr ised P28.301 billion of the total for the month. The government’s amortization posted a 93.46-percent expansion compared to last year’s

P46.798 billion, with interest payments also posting a slight uptick of 7.32 percent compared to the P26.37 billion reported in August 2017. Furthermore, domestic amortization totaled P86.350 billion for the month due to redemptions, which is comprised of the Bond Sinking Fund and the agrarian-reform beneficiaries, while foreign amortization comprised P4.185 billion of the total. Domestic interest payments made by the government in the form of Treasury bills, fixed rate Treasury bonds and retail Treasury bonds totaled P17.487 billion, with foreign interest payments reaching P10.814 billion. From the January-to-August period, the national government has allotted P581.945 billion for the payment of its debt, rising by 5.58 percent compared to the P551.197 billion made in the same period for 2017. Amortization for the period

reached P343.293 billion, which expanded by 4.46 percent compared to last year’s P328.624 billion, while interest payments totaled P238.652 billion growing by 7.22 percent against last year’s P222.573 billion. The government borrows funds both from onshore and offshore lenders to support its various programs including its infrastructure buildup projects and social programs, among others. In July this year, the Development Budget Coordination Committee (DBCC) reported that to ensure efficient borrowing, this year’s goal of sourcing 65 percent of loans from the domestic market and 35 percent from external sources will be modified so that the government will now be targeting the proportion of domestic borrowing to increase to 75 percent, which will reduce the percentage of external financing in the mix to 25 percent in 2019.

Monday, October 22, 2018

Commercial property lending ‘slightly tighter’ in Q3–BSP

OCAL banks reported slightly tighter overall credit standards in giving out commercial real-estate loans in the third quarter of the year, a Bangko Sentral ng Pilipinas (BSP) survey showed. In its quarterly Senior Bank Loan Officers’ Survey (SLOS), the Central Bank said respondent banks continued to indicate a net tightening of overall credit standards for commercial real-estate loans for the 11th consecutive quarter based on the diffusion index (DI) approach. In particular, the BSP said the tighter overall credit standards for commercial real-estate loans reflected respondent banks’ wider loan margins, reduced credit line sizes, stricter collateral requirements and loan covenants, shortened loan maturities, and increased use of interest rate floors. “Meanwhile, over the next quarter, while the majority of the respondent banks foresee maintaining their credit standards for commercial real-estate loans, DI-based results point to expectations of continued net tightening of credit standards for the said type of loan,” the BSP said. Results of the same survey approach from the BSP also indicated a net decrease in demand for the

commercial real-estate loans. The Central Bank said this is on the back of lower working capital needs of corporate customers, as well as an increase in corporate customers’ internally generated funds. “Over the next quarter, although most of the respondent banks anticipate generally steady loan demand, a number of banks expect demand for commercial real-estate loans to increase,” the BSP said. For housing loans, meanwhile, cred it standards remain unchanged. The BSP said this reflected unchanged profitability in asset portfolios of respondent banks, as well as banks’ unchanged tolerance for risk and steady profile of borrowers for the said type of loan. The BSP also said that for the next quarter, survey results point to expectations of net easing of credit standards for housing loans, as respondent banks anticipate an improvement in the profitability and liquidity of their portfolios, increased tolerance for risk and expectations of more aggressive competition from other lenders. A net increase in demand for housing loans during the quarter is also expected for the fourth quarter of the year, according to the BSP. Bianca Cuaresma

LandBank OKs P1B-loan facility for Santiago City BPI ATMs glitch solved early Saturday–BSP exec

HE Land Bank of the Philippines (LandBank) recently approved a P1-billion Omnibus Term Loan (OTL) Facility for the city government of Santiago, Isabela. The loan facility will help finance the local government unit’s development projects, including hospitals, a convention center, sports complex and theme park. These projects aim to generate local employment, improve social

services and support the livelihood and economic activities of the city. LandBank remains the biggest provider of development financing to local government units across the country. As of August, LandBank’s outstanding loans for the development projects of LGUs reached P46.8 billion, benefiting 667 barangays, municipalities, cities and provinces across the country. These helped fi-

nance public markets, schools, hospitals, farm-to-market roads, access roads and bridges, municipal halls, sanitary landfills, among other development projects. Santiago City Mayor Joseph S. Tan and LandBank Senior Vice President for Northern and Central Luzon Group Filipina B. Monje signed the OTL. They were joined by other city government officials and LandBank officers.

GSIS offers loan condonation program for inactive members

HE Government Service Insurance System (GSIS) will soon offer a one-time condonation and restructuring program for former members who are already out of government service and have no financial capability to settle their outstanding loan balances in full. Dubbed GSIS Program for Restructuring and Repayment of Debts (GSIS-PRRD), the loan will be open to inactive members with service loans which have been left unsettled after separation from service. “Through [the] PRRD, [the] GSIS intends to give its former members a relief in the payment of penalties,

as well as a chance to restructure their loans and pay the remaining balance through installment,” GSIS President and General Manager Jesus Clint O. Aranas said. Under the program, all unpaid penalties on the outstanding balance of the member will be condoned. The remaining balance will be restructured with an interest rate of 10 percent per annum compounded annually. Covered under the program are the following services: salary loan, restructured salary loan, enhanced salary loan, emergency loan assistance; summer one-month salary

loan, member’s cash advance/ecard cash advance/ecard plus cash advance; conso-loan; emergency loan, home emergency loan program, study now, pay later and fly PAL; pay later loans (did not avail of the condonation program in 2014); education assistance loan or EAL (did not avail of EAL II); stock purchase loan (did not avail of the condonation program in 2013); policy loan and the GSIS financial assistance loan to DepEd personnel. Excluded in the program are loans granted to pensioners and housing loan. Housing accounts have an ongoing condonation program.

RANKING official of the Bangko Sentral ng Pilipinas (BSP) said the problem about the automated teller machines (ATMs) of the Ayala-led Bank of the Philippine Islands (BPI) has been resolved early Saturday. On Friday night some BPI clients took to social-media to complain about not being able to use the ATMs or that the receipts printed by the machines showed they have millions even if their accounts do not have that much amount. BSP Deputy Governor Chuchi G. Fonacier said BPI reported the incident immediately. “There was engineering maintenance of ATM machines. But deposit balances are still correct. Problem solved as of 4:30 a.m. today [October 20],” she said. In an interview by PNA, the BSP official said the problem with the BPI ATMs was “not nationwide.” “[It] was isolated to some ATMs,” she said. “Maintenance work on ATMs started around 10 p.m. last night [October 19],” she added. This kind of problem is among the reasons for the decision of the BSP’s policy-making Monetary

Board (MB) to approve on Thursday the proposal to require banks to submit initial report on cybersecurity breaches, or any issue on their information-technology system within two hours after its discovery. Fonacier said a circular has been drafted for this and is now awaiting signature of BSP Deputy Governor and Officer in Charge Almasara Cyd Tuaño-Amador. “The MB agreed to what was laid out,” she said. Also, BSP Supervisory Data Center Director Vicente T. de Villa III said follow-up reports that should have “more relevant details” must be submitted by the banks “within 24 [hours] from incident.” The BSP has strengthened its poli-

cies and monitoring on cybersecurity threats, noting that both the regulator and industry players should be ahead of the criminals. Several circulars have been issued directing banks to improve their IT systems to protect not only the financial institutions but also their clients and the banking industry. Among these is Circular 808 issued on August 22, 2013, which classify bank’s IT risk profile as either “complex” or “simple” and is based primarily on banks’ degree of adoption of technology. The BSP has put in place corrective actions against erring banks and has established a cybersecurity ratings, which BSP Governor Nestor A. Espenilla Jr. earlier said are “getting better.” PNA

Green Monday BusinessMirror

A8 Monday, October 22, 2018

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

China creates largest man-made forest on top of the world L

The moon eclipsed the sun; then the bees stopped buzzing

By Michael A. Bengwayan | Special to the BusinessMirror

EIJING—China has created a forest the size of France on top of the world—at the Qinghai Tibet Plateau—once a barren, cold wasteland where even the spring wind would not reach. For centuries, the plateau was a barren desert of bleakness and desolation. The local residents and even those in towns 70 kilometers away suffered from severe dust and sand storms caused by outflows of the loose sand up from the desert. Now, forests cover some 30,000 hectares of the wide expanse due to an aggressive forestation drive that dates back 30 years ago. “This is just one of the results since we began afforestation efforts in 1949, the results are impressive. Nationwide, some 40 million hectares of land are planted with trees,” said a spokesman of the Ministry of Forestry to this writer. Afforestation means foresting an area with tree species never been grown in a certain land. Reforestation is the planting of tree species in an area where those trees used to grow.

World’s largest afforestation

The Qinghai Tibet Plateau afforestation is the biggest forestation accomplishment in the world. The afforested land, more than the size of France, has increased China’s forest coverage from 10.6 percent in 1949 to 15 percent, which accounts for 25 percent of the world’s afforested area. China once abounded with forests. But the forest reserves were depleted by recurrent wars, fires, land reclamation and indiscriminate logging. Consequently, China’s total area of desert, denuded hills and wastelands in 1949 came to 240 million hectares, onefourth of its land area. “ The government has been paying great attention to afforestation to halt the denuding process,” said Prof. Weng Meng Li of the Beijing College of Forestry. “We have brought an annual average of 2.5 million hectares of land under afforestation from 1981 to 1986, twice the number that the old Soviet Union did and almost also twice the accomplishment of the United States in those five years.” To maintain the attained 15 percent of tree coverage, China has to afforest 5.6 million hectares annually in the next 15 years, assuming that treeplanting efforts have a survival rate of 100 percent. But this is not likely, because forestation efforts always chalk up to 10

percent to 15 percent mortality. Thus, it may take 25 to 30 years to complete afforestation of all possible plantable areas in China.

Trees are the only answer against desertification

Afforestation, according to Li, is the only way to combat the advancing deserts along China’s northern frontier. China loses some 120,000 hectares of farm and pasture lands to desertification annually. “Trees are the only line of defense,” Li said, adding that the farms and pastures lost were once forests but cleared for agriculture. The Chinese dry lands have a long history of land use matched by a record of desertification, the natural phenomenon where onceforests and lands converted to abusive and unsustainable farming practices become deserts. Of China’s 170,000 square kilometers (sq km) desert area, 50,000 sq km were desertified from 1900 to 2000. Besides abusive farming, wind is the main factor, especially in western China where it pushes sand dunes, drifting sand and deflated topsoil, aggravated by salinization and sand burial of low river beds. “To combat this, we have to plant thousands of rows of trees to stop desert invasion, reforest

arable lands and meet head-on the incoming desert by planting trees going forward,” Li explained.

Trees create China’s Green Great Wall

What Li refers to is called China’s “Green Great Wall,” a shelterbelt of millions of trees on the northern side of the country that started in 1978. It extends 7,000 kilometers from northern Heilongjiang province in the northeast to Heitian prefecture of Xinjiang Uygur Autonomous region in the west, traversing more than 200 counties in 12 provinces and regions, including Inner Mongolia, Shanxi, Ganau and Nirgxia. The first phase was planted with some 50 million trees from 1980 to 1985 that covered 6 million hectares of land. The second phase, which ended in 1990, another 6.3 million hectares were planted with trees by thousands of volunteer soldiers and public servants. T he Green Great Wa l l has helped hold back sand storms, promote soil and water conservation and improve conditions for farming and livestock breeding. Take the town of Yulin in Shanxi province at the foot of the Green Great Wall. It has saved 330,000 hectares of farmland from desertification through afforestation after sand buried houses and farms in 1949. As a result, forests sprouted from the desert. Tree planting involves everyone in China. Every Chinese citizen above the age of 11, except the old, sick, weak and disabled, is required to plant five trees ever y year or contr ibute the same amount of labor by cultivating saplings, tending trees or doing other work connected with tree planting. China designated March 12 as its National Tree Planting. On this day, millions of people swarm

We have to plant thousands of rows of trees to stop desert invasion, reforest arable lands and meet head-on the incoming desert by planting trees going forward.”—Li

to the mountains, wastelands, plains, roadsides and on every piece of land to plant trees. They plant three kinds of trees: “trees of the same age” to mark a childbirth; “heart to heart trees” to celebrate marriage; and “memorial trees” to commemorate those who passed away. Considering China’s 1.7 billion population, this translates to 1.7 billion new trees annually.

Combating global warming

China, the world’s major carbondioxide emitter because of its coal consumption, is attempting to offset its carbon footprint by planting trees. The government announced several forestry goals, which include increasing the country’s forest coverage rate to more than 26 percent by 2050. New forest areas will be created in Hebei and Qinghai provinces to cover all of the Tibetan Plateau and in the Hunshandake Desert in Inner Mongolia to cost about $83 billion. This is an attempt to put the country’s total forest area to 208 million hectares, Li bared, adding that the trees will boost the nation’s carbon sink capacity. He said the government is also promoting an “ecological red-line” program to force provinces and regions to restrict “ irrational development” to curb construction near rivers, forests and national parks. China has also embarked on a forestry-responsibility camp a i g n . B a r re n h i l l s id e s a nd mountain slopes are allocated to peasant families to plant with fruit-bearing trees and trees of other importance provided they are not cut in the future and that the families pay a minimal tax to the government. With the concerted effort of the entire nation, China is seen as a world model in afforestation as green is dominating much of the nation’s landscape. Bengwayan has a masters degree and PhD in Development Studies and Environmental Resource Management from University College Dublin, Ireland, as a European Union fellow. He is currently a fellow of Echoing Green Foundation in New York.

Tibetan Plateau afforestation Michael Hirsch

Naia checking source of smuggled gecko, snakes By Recto Mercene @rectomercene

he a ir por t c ustoms is conducting follow-up operations to determine the source of smuggled gecko and snakes that arrived at the air cargo warehouse and Central Mail Exchange Center (CMEC) without the permit from the Bureau of Animal Industry (BAI). The Bureau of Customs (BOC) office at the Ninoy Aquino International Airport (Naia) confiscated 12 newly hatched pythons

at the CMEC in Pasay City that arrived recently. Port of Naia collector Carmelita Talusan said the snakes were concealed inside a package and “were misdeclared as taro chips from Indonesia.” The market price of the newly hatched snakes ranges from P5,000 to P20,000. A full-grown reticulated python snake, which is considered the world’s longest and heaviest snake that usually constricts its prey, can weigh as much as 30 kg to 40 kg and grow as much as

17 feet to 18 feet on an average, according to the Department of Environment and Natural Resources (DENR). The BOC noted that the importation of such wildlife species without necessary permits is a violation of Section 117 in relation to Section 1401, CMTA of Republic Act 9147, or the Wildlife Resources Conservation and Protection Act, and R A 8485, or The Animal Welfare Act of 1998. T he nonvenomous py t hon snakes were turned over to DENR representatives led by Atty. Andres

Mikhail Villaruel of the DENR legal division for proper handling and protection. Talusan said that in the first two weeks of October, the DENR and the wildlife office at the Port of Naia have apprehended one live mangrove snake and 250 live gecko lizards, which were also turned over to the BAI and the DENR. Villaruel said some hobbysts and farmers are importing snakes and lizards but they need importation permits and certificates to make their importation legal.

ast year’s Great American Eclipse drew hundreds of millions of eyes to the sky. But while people across the country “oohed” and “aahed” at the phenomenon, it appears the bees went silent. So found a new study monitored the acoustic activity of bees before, during and after totality—the moment when the moon completely blocked the sun—during the solar eclipse on August 21, 2017. Researchers at the University of Missouri, along with a small army of elementary schoolchildren and other volunteers, collected audio recordings of honeybees, bumblebees and other types of bees as they visited flowers along the path of totality. The researchers found that, while the insects were happily buzzing throughout the day and during the partial phases of the eclipse, the bees went quiet the instant that the total eclipse occurred in their location. Of the 16 monitoring locations the group set up in Oregon, Idaho and Missouri, they identified only a single buzz during totality, compared with a symphony of droning sounds most other times of the day. “We expected there would be a gradual decrease in the number of buzzes as it got darker and darker, but we didn’t see that,” said Candace Galen, a biologist at the University of Missouri and lead author of the study, which appeared on Wednesday in the Annals of the Entomological Society of America. “At totality, they just stopped. It was very surprising.” They are not sure why the bees stopped buzzing but think it may be related to how the pollinators interpret the drop in light. Scientists have long investigated how animals react to eclipses. Studies of the 1991 eclipse over Mexico, Central America and South America showed that desert cicadas stopped chirping. Orb-weaving spiders spinning webs began to deconstruct them during totality, only to rebuild them when the sun returned. Although there were reports from the

public that honeybees returned to their hives during the 1932 total solar eclipse, which swept through Canada and parts of Maine, Vermont and New Hampshire, there had not been a large scientific study into bee behavior at totality like this one, according to the authors. To e a v e s d r o p o n t h e i n s e c t s , Galen and her volunteers planted microphones about the size of flash drives, which they called “USB ees,” into flower patches and gardens that were as far as possible from crowds and traffic. They also placed environmental sensors that recorded the temperature and brightness. After the eclipse, the scientists and schoolchildren evaluated the data. That meant listening to three-minute audio clips taken from random points before and after totality, as well as a three-minute clip taken during totality. The length of totality at the test sites varied from about 40 seconds in Oregon to about two minutes and 30 seconds in Missouri. “Counting the bee buzzes was a class effort. We all had to listen and tally up what everyone heard,” said Marci Fitzpatrick, a teacher at Shepard Boulevard Elementary School in Columbia, Missouri, whose fifthgrade class took part in the study. “They became quite the little bee analysts.” A bee’s buzz is the result of the insect’s vibrating its wing muscles. So when bees are flying, they are buzzing. Galen had asked the students what they expec ted would happen during the eclipse. Many of them predicted the bees would confuse totality for nighttime and stop flying. “We scientists have more fancy ways of saying the same thing, but the kids were pretty much right,” said Galen. “It was a pretty humbling experience for someone with a PhD and 30 years of research experience to have the kids get it correct right from the start.” New York Times News Service

Mother nature can help us deal with water disasters By Vladimir Smakhtin Inter Press Service

OKYO, Japan—Almost ever y day we hear news about catastrophic flooding or drought somewhere in the world. And many nations and regions are on track for even more extreme water problems within a generation, the latest Intergovernmental Panel on Climate report warns. Extreme floods and droughts have a profound impact on development, particularly in less developed parts of the world. About 140 million people are affected—displaced by the loss of incomes or homes—and close to 10,000 people worldwide die annually from these twin calamities. Global annual economic losses from floods and droughts exceeds $40 billion; add in damages from storms like America’s recent Hurricanes Florence and Michael, and cost numbers balloon. Flood and drought economic losses— comparable in dollar terms to all global development aid—strongly affect the water, food and energy security of nations. To help cope with these problems, massive investments continue to be made in large reservoirs. However, in certain regions it has started to make little engineering sense to build additional “gray [concrete and steel] infrastructure” due to a lack of suitable sites and/or rapid evaporation. In others, aging gray infrastructure may no longer provide their originally envisioned benefits because hydrological parameters and patterns are changing. Th e a p p ro p r i ate re s p o n s e i s to recognize the benefits of “green [natural ecosystems] infrastructure” and to design gray and green infrastructure in tandem to maximize benefits for people, nature and the economy. Such “Nature-Based Solutions” were the theme of this year’s UN World Water Development Report. Nature-Based Solutions, include, for example: n Soil moisture-retention systems, and groundwater recharge to enhance water availability;

n Natural and constructed wetlands and riparian buffer strips to improve water quality; and n Floodplain restoration to reduce risks associated with water‐related disasters and climate change. The role of green water-storage infrastructure is particularly important. The enormous potential of such approaches are being fully understood o n l y n o w b u t i t s c l e a r t h at g re e n infrastructure can directly improve the performance of gray infrastructure for disaster risk reduction. Indeed, large-scale managed aquifer recharge efforts can, in certain conditions, alleviate both flood and drought risks in the same river basin. Recent studies suggest that, in a river basin greater than 150,000 km 2 in area, with only 200 km 2 of land converted for accelerated groundwater recharge in wetter years, agricultural income could be boosted by about $200 million per year. Not only is additional water made available to farmers in drier periods, d ow n s t re a m f l o o d i n g co s t s c a n b e eliminated. And the capital investment required could be recouped in a decade or less. Such sustainable, cost-effective and scalable solutions may be especially relevant in developing countries, where water-related disaster vulnerability has risen to unprecedented levels and the impacts of climate change will be most acutely felt. N at u re - B a s e d S o l u t i o n s a re n o t feasible everywhere and, where they would help, they alone are not the silver bullet solution for water risks and variability—they cannot be counted on to replace or achieve the full risk reduction effect of gray infrastructure. Nevertheless, Nature-Based Solutions need to be considered in all water management planning and practiced where possible. Especially at river basin and regional scales, management planning should consider a range of surface and subsur face storage options, not just large concrete dams.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, October 22, 2018

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

Taklong Island NMR: ‘Jewel of Guimaras’ By Jonathan L. Mayuga @jonlmayuga

hen one mentions Guimaras, an island province in Western Visayas, the first thing that would enter one’s mind is its sweet mangoes.

However, besides the fruit, the province also boasts of its other “hidden treasure,” the Taklong Island National Marine Reserve (TINMR), where one’s visit to it would be best defined by the phrase “communing with nature.” About 15 minutes away from the town proper of Nueva Valencia and another 30 minutes away by boat from the shores of the town, a visit to Taklong Island offers a unique travel experience. Taklong Island is literally “off the grid.” The very few facilities found within TINMR are illuminated at night by battery-stored electricity generated by solar panels, albeit with a limited capacity. Water is fresh as can be, having been harvested from rain and stored in huge concrete tanks or plastic containers. At night, with the permission of the management of TINMR and University of the Philippines-Visayas, a limited number of visitors are allowed to spend the night at the UP-Visayas Marine Station. TINMR is protected against commercial and destructive fishing. Handline fishing is the only fishing method allowed within the marine reserve. The protection and conservation of the ocean’s bounty to ensure sustainable fish catch and the survival of coastal communities will be highlighted by the DENR and the Partnerships in Environmental Management for the Seas of East Asia as the Philippines plays host to the upcoming “East Asian Seas Congress 2018” to be held at the Iloilo Convention Center from November 27 to 30.

Para el Mar awardee

TINMR bagged the first place as Most Outstanding Nipas MPA in 2017, a new category in the Para el Mar (Spanish of For the Seas) Awards for protected areas with a marine component under the National Integrated Protected Areas System Act of 1992, mak-

ing it the very first awardee for the category. T he awards were spearheaded by the Mar ine Protected A reas Suppor t Net work, in cooperation w ith the Depar tment of Env ironment and Natura l Resources (DENR) Coasta l and M a r i ne E c o s y s t e m M a n a ge ment Program “Agos ng Buhay,” in order to recognize best practices in (MPA) management and help streng t hen and susta in c u r rent m a n agement ef for ts based on science. TINMR bested a short list of eight sites chosen for the finals. A protected area (PA) with a category of Protected Landscape and Seascape under the Nipas, TINMR is known as the “Jewel of Guimaras” because of its natural beauty and rich biological diversity.

Natural defense

The island is Guimaras’s first line of defense against natural and manmade calamities. Because of its thick mangrove forest, which acts like a giant sponge, it cushioned the impact of the 2006 oil spill after M/T Solar, a bunker fuel vessel, capsized off the waters of island. Taklong also prevents storm surge from severely affecting mainland Guimaras, particularly the coastal communities in Nueva Valencia. “It is us here in Ta k long first [who are protected against storms], before them in the mainland,” Rhett Arthur A. Diana, chief of Protected Area Management and Biodiversity Conservation Unite of the DENR and concurrent PA superintendent of TINMR, told the BusinessMirror in an interview last month. “During strong typhoons, if it weren’t for Taklong [TINMR], many areas cou ld have been wiped out by the waves in Nueva Valencia,” Diana said in Filipino.

Sandbar, beaches and eco-trail

Ta k long Island has a good

Photo collage of various sites highlighting Taklong Island National Marine Reserve

Ricky M. Los Bañez and Marjun Jumao-as/DENR-SCID

number of ecotourism sites. Besides the white-sand beaches, sandbars and an eco-trail, there are several caves, where visitors are allowed to get into. Besides the UP-Visayas Marine Station, other facilities within the TINMR include a watchtower, which gives the Bantay Dagat or Sea Guards a full 360-degree view of the island and islets and surrounding water body; an information center, Protected Area Office, a floating guardhouse, a boardwalk or eco-trail, a gazebo and a conference room. A floating cottage also offers visitors a place to spend swimming in a shallow portion of the sea.

Fish sanctuary

Commercial fishing and other destructive fishing methods are not allowed in Taklong. “The only fishing method allowed in Taklong is handline fishing,” said Vicente A. Sardina, Guimaras’s Provincial Environment and Natural Resources Officer in a separate interview. He said the DENR and the local government units (LGUs) of Guimaras, from the provincial government to barangays, consider the Taklong Island MPA as a fish sanctuary. It ac t s a s a breed i ng a nd feed i ng g rou nd of a va r iet y of fish and other mar ine life that boosts the food secur it y and self-sufficienc y not only of Guimaras but a lso that of nearby provinces like Iloilo and Negros Island.

Radical plan to slow climate change: Eat less meat

A cow stands at the Texana Feeders feedlot in Floresville, Texas, US. Daniel Acker/Bloomberg

f you want to save the planet, put down your burger. Or rather, finish it, savoring every single bite and mentally prepare yourself not to have another until at least next week. Raising animals for food is a major contributor to climate change, responsible for an estimated 14.5 percent of all global emissions. Following last week’s United Nations repor t on the dire prospects for the future of the planet, the Climate, Land, Ambition and Rights Alliance (Clara) has presented its own self-described “radical” plan to keep global temperatures from rising more than 1.5 degrees Celsius (1.8°Fahrenheit). The report rejects many of the UN’s technologically driven mitigation solutions, such as carbon capture and geoengineering, in favor of a simple approach.

The bottom line: Eat less meat—a lot, lot less. By limiting individual meat consumption to about two five-ounce servings per week, the group argues it can solve more than just climate change. Clara envisions change on a “truly massive scale” that would fundamentally alter the way food is produced in the United States and the rest of the world. The personal sacrifice would help tackle biodiversity loss, violations of indigenous rights and food insecurity, the group contends. The authors call for a move away from the monoculture of the modern food system, for reforestation and farming systems that require more labor and fewer inputs, shorter supply chains and less waste. Instead of growing feed for livestock, the report says, cattle should be grazed on a rotational system that has the potential to make pastures both more productive and

able to sequester carbon. Livestock should be fed “ecological leftovers,” or the scraps humans leave behind—food waste and crop stubble—instead of what has been specifically grown for them. Humans don’t just need to eat less meat and dairy. We need to eat less. “Unnecessarily high-calorie diets also contribute significantly to GHG [greenhousegas] emissions,” the report notes. Mitigation plans that focus more on lifestyle change than bioenergy with carbon capture and storage “don’t violate the laws of physics,” said Zeke Hausfather, US analyst at Carbon Brief. “But convincing the vast majority of the world’s population to change their behavior without fairly heavy-handed government intervention sounds quite difficult.” Natural solutions to climate change like reforestation are “the most efficient, economical and effective way to remove carbon dioxide from the atmosphere,” said William H. Schlesinger, dean emeritus at Duke University’s Nicholas School of the Environment, even if they are not enough on their own. As for rejecting the technological solutions espoused by the UN, he said, they are “largely unproven.” While the report envisions a totally transformed global food system, it does not lay out plans to enact one.

Bats, ducks and mangrove forest

The mangrove forest w ithin TINMR is teeming with biodiversity. Philippine ducks and giant island fruit bats are frequently seen. According to Diana, the ducks and the bats are ecosystem indicators. “Their presence here means the ecosystem is healthy. That there is food and that it is ideal for them to feed and roost here,” Diana said. According to a profile of TINMR provided by the DENR, there are 70 species of trees, 11 species of shrubs, 10 species of herbs and grasses and 26 species of mangroves in the marine reserve. There are also nine species of seagrasses and 77 species of seaweeds in the area. A total of 66 species of birds, including migratory birds, were recorded in TINMR together with six species of mammals, including long-tailed macaque, wild cat, fruit and insect bats and at least 16 species of reptiles, including snakes, lizards and sea or marine turtles.

Partnership

Behind TINMR’s success in bagging the Para el Mar award is the strong link among the various stakeholders, led by the DENR through the DENR Western Visayas Region, the Guimaras Provincial Environment and Natural Resources Office, the Community Environment and Natural Resources Office and the strong support of the LGUs, led by the provincial government, down to the municipal LGUs, barangays,

the nongovernment organizations (NGOs), people’s organizations (POs) and communitybased organizations. Among the supportive community-based organization is the La Paz Fisherfolk Resources and Mangrove Management Inc. (Lafarma), led by its chairman, Nelson Celson. “We have partnered with several POs and fisherfolk organizations. We provide them with livelihood, training and facilitate support from the LGU and other agencies. In return, they help us protect a nd m a nage TINMR’s resources,” Diana said. The NGOs and POs in Guimaras also benefit from increased tourism in Guimaras, including TINMR. But Diana said they intend to strictly follow the various development plans developed by stakeholders and approved by the TINMR, Protected Area Management Board, including limiting the number of tourists within the island’s carrying capacity. At any given time, only 30 people are allowed to visit the TINMR, except in very special cases where the DENR and TINMR managers approve.

Benefits

For his part, Celson told the BusinessMirror there are other organizations in Guimaras besides from Lafarma. But his group is one of the pioneers and active supporters of the DENR and LGUs in the protection and conservation of the MPA.

When fishing activities are off during the typhoon season, small fishermen were able to get by because of the livelihood projects of the DENR and LGUs. Lafarma is a partner of the DENR in implementing the National Greening Program and has been into mangrove forest rehabilitation since 2011. Under the program all of the group’s 32 members, as well as other NGP partners, get paid on a “no work, no pay” basis. “After planting mangroves, we make sure that they grow. We maintain the area, and we ensure a minimum of 85-percent survival rate,” he said in Filipino. According to Celson, fishing is a way of life in Guimaras. As tens of thousands of people directly and indirectly benefit from the ocean’s bounty, they recognize the need to protect it from abuse and all forms of threats. “We benefit from the protection and conservation work we do here in Taklong [TINMR]. The ocean is also important to us who are living in the coastal barangay. Even those who live in upland areas go here to fish,” Celson said. “ We a re a lso t ra ined to pro tect threatened species, which f isher men a re not a l lowed to catch. T his includes sting rays, sharks and some seashells that a re a l ready cr it ica l ly end a ngered,” Ga r may told t he BusinessMir ror in Fi l ipino. For Garmay and other protectors of TINMR, the day starts as early as 5 a.m. and ends at dawn. “Our POs here no longer join our routine patrols because we understand the danger. Those into illegal fishing sometimes threaten or harass them. Even us experience threats and harassment every time we leave TINMR and go to the mainland,” he said. Rolen G. Segovia, a fisherman-turned-protection officer of TINMR, admitted that they used to do illegal fishing but they were later convinced that it is bad. Now a n ac t ive protec t ion officer patrolling the coastal areas, including the mangrove forest to prevent har vesting of wood for charcoal, Segovia said he is now part of the crew that regularly talks to fellow fishermen to convince them of the benefit of protecting and conser ving their source of income and livelihood, their way of life and, more important, the Jewel of Guimaras.

DENR consults IPs on proposed biodiversity policies

he Department of Environment and Natural Resources-Biodiversity Management Bureau (DENRBMB) launched on Thursday the National Stakeholders’ Consultation on proposed biodiversity policies to institutionalize Indigenous Peoples and Local Communities Conserved Areas and Territories (ICCA) that kicked off in Quezon City. The three-day consultation has gathered more than 100 indigenous people leaders and nongovernment organizations to discuss proposed policies. The event is part of the a foreign-assisted project—Strengthening National Programme to Improve Governance and Management of ICCA—that is being implemented by the DENR-BMB and funded by the Global Environment Facility through United Nations Development Programme (UNDP). The Philippine ICCA Project aims to strengthen the conservation, protection and management of biodiversity sites in the Philippines by institutionalizing ICCAs as a sustainable addition to the national protected areas estate. The four-year program that started in 2016 is being implemented in 10 sites: namely Mount Taungay in Tinglayan, Kalinga; Mount Polis in Ifugao, Mountain

Province; Imugan, Nueva Vizcaya; Kanawan in Morong, Bataan; Engongot, Certificate of Ancestral Domain Title; Balabac in Palawan; Mount Kimangkil in Impasug-ong, Bukidnon; Mount Apo in Magpet, North Cotabato; Dinarawan in San Pablo, Jabonga, Agusan del Norte; and Mount Diwata in Compostela Valley. Four proposed policies are being deliberated during the three-day event. These include a policy guideline addressing gaps and inconsistencies toward ICCA recognition; a set of guidelines interfacing the ICCAs into the Comprehensive Land Use Plan and the Community Development Plan; a guideline on ICCAs overlapping with protected areas; and the National ICCA Registry and Policy envisioned to be a centralized information management system on ICCAs. The policies and platform are the culmination of months of subconsultations, interviews and fieldworks by the consultants of the project. Falling under the category of Other Effective Area-Based Conservation Methods, ICCAs offer government agencies an alternative outlook for biodiversity conservation. According to Samson Pedragosa, project manager of the Philippine

ICCA Project, it is estimated that 75 percent of areas with remaining forest cover are within ancestral domains, which indicates that the governance by indigenous people (IP) communities has been instrumental in conserving what little natural forest cover is left in the Philippines. DENR-BMB Director Crisanta Marlene Rodriguez emphasized the need to promulgate government policies on ICCAs. “The recognition of ICCAs is in line with the country’s targets to the Convention on Biological Diversity’s Aichi targets and the Philippine Biodiversity Strategy and Action Plan. Passage of the ICCA policies will ensure that we will hit these targets,” she said. Titon Mitra, country director of UNDP Philippines, also noted ICCA’s role in reducing inequality alongside boosting safeguards to the environment. “With the huge overlaps between the country’s protected areas, key biodiversity areas and ancestral domains, there is great value in supporting IPs’ conservation efforts, thereby producing multiple benefits, such as protecting their rights to ancestral lands, poverty reduction and enhancing ecosystem resilience,” Mitra said. Jonathan L. Mayuga

A10 Monday, October 22, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Do we have to do the American way?

AST week candidates for public office made their individual pilgrimages to file their certificates of candidacy before the Commission on Elections. The similarities between the annual Muslim Hajj to Mecca or a Christian’s devotional tour of the Holy Land are evident.

It is a mandatory journey for all politicians. It should begin with an appropriate amount of soul-searching and even atonement and absolution for past transgressions. Family members and friends are usually present to help the traveler as her or she starts the long and arduous voyage. Once begun, there is rarely an opportunity to turn back so a firm and lasting commitment is necessary. Other priorities and schedules must be changed to make sure the destination can be reached. Lives are put on hold. The problem is that every three years, the nation is put on hold from October until May of the following year. The Omnibus Election Code of the Philippine states that the campaign period for national candidates starts 90 days before election day and we all know that is a myth. The 2019 campaign period started this past week. Make no mistake about that. Some candidates have resigned their government positions. Candidates are “unofficially” campaigning through interviews and television and radio. Already, people are being told why they absolutely should not vote for the “other guy” running for mayor, representative or senator. We are often reminded that politics is so very dominate in the Philippines and why that is not necessarily a positive. But how can we ever get away from it? In the United Kingdom the combined length of the election campaign and the time for the new parliament to assemble is typically around four weeks. In France—which has two rounds of voting for national office—the official campaign period when posters are put up and sorties happen is two weeks. Election campaigns in German last only six weeks. Certainly these are the official campaign periods and politicians everywhere break or bend the rules. But there is strict peer pressure that a Cabinet official is not going to suddenly appear in “neutral” television commercial talking about all the wonderful things a particular department or agency has been doing in the past year. The reason we ask if we have to do it the American way is that the unofficial campaign season in the United States never ends. The movement a US president assumes office, they are already running for a second term which election will occur in four years. Every two years, Americans elect their entire House of Representatives and one-third of their Senate. Roughly two years or 50 percent of every four year presidential term are taken up with campaigning. But the people and the system is used to it in the sense business goes on fairly much as usual. Here in the Philippines though, there are constantly critical policy issues requiring difficult decisions and necessary legislation that is not going to please all the voters. It is almost guaranteed that legislation in both the House and the Senate is going to be delayed with lengthy “hearings in aid of legislation” until next year’s election. Can the nation afford that? Is there a reasonable justification for the candidate filings in October rather than a few weeks before the official campaign period begins? To give the Commission of Elections extra time to deal with protests and legal maneuvers for “nuisance” candidates does not seem fair to the people or the country. Since 2005

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UR world today is facing huge challenges as it had never faced before, there is no doubt about that. Change and crises from all sectors are coming in at a dizzying rate, and it’s no different on the local front. While there are groups and people who make implementing solutions more difficult, the good news is that there are always agencies, institutions, entities, individuals, nations and groups that never tire of working for solutions. From the conscientious worker doing his job in the community to the worldwide agencies and coalitions working together to solve the world’s problems, steps are being taken every single day to build a sustainable future for the planet. The World Economic Forum Sustainable Development Summit 2018 was held recently in New York to review steps being taken toward the achievement of Sustainable Development Goals, as well as to discuss urgent actions

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necessary to save the planet and its people. One of the significant measures presently being taken is the acceleration of action on climate change and sustainable development by 100 world-leading coalitions. There are partnerships focused on “closing the skills and gender gap, fighting disease, broadening the benefits of trade and protecting the planet’s dwindling biodiversity.” The work does not stop there as governments and businesses are being tasked with specific roles. Governments have to make sure they are able to fulfill their commitments, and businesses are expected to provide the “know-how and the technologies to reach the

‘#PINK OCTOBER’ Atty. Lorna Patajo-Kapunan

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace Ruben M. Cruz Jr. Angel R. Calso

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Working together for a sustainable future

LEGALLY SPEAKING

HE International Labour Organization (ILO) calls for 14 weeks (98 days) paid maternity leave for mothers, including a “cash benefit” that should be no less than two-thirds of their previous earnings or a comparable amount. The Philippines, currently with 60-day maternity leave period for vaginal delivery and 78 days for cesarean delivery, appears to be the lowest compared to other countries. For instance, in Australia, there is a legal requirement to provide 12 months’ maternity leave. New mothers can also ask for an extra 12 months, for a range of factors, including complications with health or family. Ghana plans to extend maternity leave from 12 to 16 weeks. In India, mothers get 26 weeks leave. In Singapore, mothers get 16 weeks’ leave. Childcare leave in

Japan runs until the child reaches the age of one. In the Netherlands, there’s a minimum of 16 weeks’ leave. Every mother in Italy gets at least five months maternity leave. In France, mothers get 16 weeks’ leave. In the United Kingdom, mothers can take up to nine months of paid maternity leave. Surprisingly, the US does not have a law that specifically covers parental leave but the Family and Medical Leave Act (FMLA) provides up to 12 weeks parental leave and require the employer to maintain employees’ health benefits, but it is unpaid and comes

While there are groups and people who make implementing solutions more difficult, the good news is that there are always agencies, institutions, entities, individuals, nations and groups that never tire of working for solutions. From the conscientious worker doing his job in the community to the worldwide agencies and coalitions working together to solve the world’s problems, steps are being taken every single day to build a sustainable future for the planet.

objective in more efficient and innovative ways.” However, it is not entirely up to governments and businesses alone. Each and everyone of us is expected to do our part in saving the environment. During the summit, this important point was raised by Vice President Al Gore, New York City Mayor Bill de Blasio and California Gov. Jerry Brown. Another set of heroes, as far as sustainable development is concerned, are the social entrepreneurs. Twelve honorees were cited during the summit, for their

with restriction on who is eligible. Notably, it is applicable to both men and women. Some countries really prioritize the well-being of new parents— both straight and same sex— granting them more than a year of leave at full pay. The following 10 countries out of 196 countries in the world, (listed at businessinsider.com) have the best leave policies in the world: Finland—Seven weeks before estimated due date; 16 additional weeks of paid leave through a maternity grant, regardless of whether the mother is a student, unemployed or self-employed. The father also gets eight weeks of paternity leave. After a child turns three, parents can also take partial care leave, in which they split time between home and work, until the child starts second grade. Denmark—18 weeks of maternity leave (four weeks before birth and 14 weeks after) at full pay. During the 14 week period, the father can also take two consecutive weeks off. Then, parents can split 32 additional weeks of leave however they see fit, extend-

work on girls’ education, sexual violence, prison reform, financial inclusion, and disaster relief, among other issues. “Hilde Schwab, chairman and cofounder of the Schwab Foundation for Social Entrepreneurship, said: “Social entrepreneurs leverage the power of market forces and business principles to solve social problems in ways that benefit the marginalized and the poor. Their work is often carried out in areas where the government and the private sector are unable to achieve meaningful outcomes and involves considerable creativity coupled with pragmatism.” Finally, the summit participants also discussed the source of funding for the delivery of the Sustainable Development Goals. It was Christine Lagarde of the International Monetary Fund who said that 14 percent of the GDP is going to be needed in order to reach the goals. This might be a challenge, especially for emerging economies like the Philippines, but it is not impossible. All this, by and large, is reason enough to keep hoping, and working, for a bright future for our children and their children. If we do the work today, they will benefit tomorrow.

ible for another 14 weeks if the child or parent get sick. By law, the government covers 52 weeks of pay, though not always at the full salary. Sweden—New parents are entitled to 480 days of leave at 80 percent of normal pay, on top of 18 weeks reserved just for mothers, after which the parents can split up the time however they choose. Sweden is unique in that fathers also get paternity days reserved just for them to promote bonding between father and child during a time when mons are getting most of the attention. Belgium—Mothers can take up to 15 weeks for maternity leave— for the first 30 days after the child is born, they get 80 percent of their salary, and 75 percent for the rest of the time. Fathers are given 10 days. Moms have the option to take eight months of part-time leave instead of 15 full weeks. Iceland—Parents can split their nine month of post-childbirth leave straight down the middle. New moms get three months, new dads get three months and See “Kapunan,” A11

Opinion BusinessMirror

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Redesigning the accountancy curriculum of the Philippines

Lip service no more

ADMIRE leaders who have the courage to say what they mean. Like saying no to things they really want to disapprove. In the Army, saying no is hardly an option. Soldiers are indoctrinated to find ways to accomplish the mission, at all costs. Sadly, lives could be saved in battles if only leaders knew how to say no. In the Battle of Gettysburg during the US Civil War, the Confederate Army could have avoided 6,000 casualties if only some generals knew how to say no. Generals Pickett and Longstreet reluctantly agreed to seize a hill on the third day of the battle despite knowing the futility of the direct assault preferred by General Robert E. Lee. They just had to obey when they may have meant to refuse—perhaps a classic case of lip service where people give approval or support, insincerely.

By analogy, some politicians may claim they will serve the Filipino people to the best of their abilities, but might eventually prioritize things to promote their own or their family’s interests. The Oath of a Public Servant recites the basic tenets of Filipino public service—Maka-Diyos, makatao, Maka-kalikasan at Makabansa. Every person aspiring for any government position should mean exactly what they say. And whether you’re a candidate or a voter, you should put a stop to lip service. Learn to say no.

Relatedly, when tasks at hand seem to be manifestly difficult, most Filipinos find it hard to say what they mean. As a people, we will always aim to please and never disappoint. For instance, even if the food on the table is not enough, most Filipinos tend to offer it to their guests. Some genuinely mean what they offer. Others do not necessarily mean it, but just offer it anyway by force of habit. As the country gears up for yet another electoral campaign where candidates will make com� mitments, we have to be mindful that some of them will not mean what they say, or worse, they will do things different from what they promised. Perhaps it is the nature of political campaigns. Lip service appears to be built-in into our election culture. But there is a tale of three

sonal to Cesar, not only because he chairs the committee whose man� date includes the industry of my current employment, but because he worked together with my father when they were both at the Bureau of Customs. As representative of the lone district of Catanduanes, Cesar made good of his promises, that is, to improve the lives of his constituents in the province. For instance, he managed to establish the Catanduanes State University, during a congressional moratori� um against such establishments. As House Transportation Com� mittee chairman, Cesar presided over meaningful hearings that led to the successful passage of laws, including the law extending the validity period of driver’s licenses. While I have yet to see and hear him during election campaigns, I know Cesar delivers whatever he commits. The Bible talks of a parable of

Siegfred Bueno Mison, Esq.

THE PATRIOT

Alfred Jean-Marie Borgonovo

DEBIT CREDIT

Second of three parts (Background : The Centre for Financial Reporting Reform of the World Bank One will be releasing the “Guide to Implement Competency Based Accounting Education and Certification” by the end of 2018. Included in this publication is an article on the Philippine experience which was written with inputs from former Chairman of the Board of Accountancy Joel Tan-Torres.)

HE key stakeholders in redesigning the accountancy curriculum were the Professional Regulatory Board of Accountancy (BOA) and the Commission on Higher Education (CHED). The BOA is one of the 43 Boards established under the authority of the Professional Regulatory Commission. The is the national government agency mandated to enforce laws regulating the vari� ous professions. The Boards gov� ern their respective professions’ practice and ethical standards, and accredit the professional or� ganization representing the pro� fessionals. The BOA consists of a chairman and six members appointed by the President of the Philippines, based on an initial list of five nominees prepared by Philippine Institute of Certified Public Accountants (PICPA), from which the PRC will make three recommendations for appointment. The CHED was created under the Higher Education Act of 1994, and its responsibilities include setting minimum standards for programs and institutes of high� er education, as well as imposing sanctions for poor performance. In addition to regulating higher education, CHED is also respon� sible for developing policies to support quality improvement in the higher educational system. As noted in the World Bank’s Report on the Obser vance of Standards and Codes on Account� ing and Auditing for the Republic of the Philippines, published in June 2017, Picpa does not have adequate resources to fully dis� charge its various roles, let alone commit the resources required to support the overhaul of the quali� fications for professional account� ants and auditors. Furthermore, it does not have the mandate to administer professional certifi� cation examinations, as exam ad� ministration is under the purview of the BOA. While CHED has the mandate and resources to develop and implement revised undergradu� ate degree programs at Universi� ties, and the BOA has the man� date and resources to adopt a revised curriculum for the�� sub� jects covered by the CPA Licen� sure Examination(s), they will be seeking external support and resources to ensure the reforms are conducted in an effective man�

Kapunan. . .

continued from A10

then both decide how to split the remaining three months. Neither parent can transfer any portion of their three-month chunk to ensure that both parents can work and kids get to spend time with both. Each parent re� ceives 80 percent of their salary while on leave. Serbia—20 weeks of fully paid leave after giving birth. After that, they additionally get a full year of leave but with compensation that diminished over time. Fathers’ get one week of fully paid leave. Norway—Their system is flex� ible and generous. Mothers can take 35 weeks at full pay or 45

ner. Volunteering, cooperation, and leveraging resources avail� able through regional and global networks will also be key to the success of this project. CHED adopted an outcomesbased approach to education and published a handbook on typol� ogy, outcomes-based education, and institutional sustainability assessment was published by CHED in 2014. The Philippine Accountancy Education Framework (PA EF) provides the minimum standards and requirements for the account� ancy degree programs that can be offered by the higher education institutions. It encompasses aca� demic degrees, initial and continu� ing professional development, as well as the professional certifica� tions and qualifications. The PAEF was revised and be� came consistent with the latest competency framework for pro� fessional accountants issued by the International Federation of Accountants through its Inter� national Education Standards (IESs), including IES 2 (Technical Competence), IES 3 (Professional Skills), and IES 4 (Professional values, ethics and attitudes). In other words, it relied on the Learning Outcomes of the IESs to define its competencies, rath� er than running a full Practice Analysis. The PAEF uses a learn� er-centered and outcome-based approach that is geared toward add ressing t he requ irements of the profession and users of its services. To be continued

Monday, October 22, 2018 A11

lawyer brothers in public service whose collective actions have spoken louder than their words. They might not be as pompous, eloquent, or articulate as the typi� cal politicians I know. But their ac� tions as indicated in their various accomplishments are far better than their political promises, if any. All products of the University of the Philippines College of Law, Congressman Cesar Sarmiento, former Department of Informa� tion and Communications (DICT) Undersecretary Jorge Sarmiento, and former Commissioner of the Commission on Elections Rene Sarmiento are brothers who mean exactly what they say and do precisely what they say in public service. In the process, they have contributed in no small measure to the significant progress in the province of Catanduanes. Of the three, I got more up close and per�

the two sons wherein the first son said he would not obey, but eventually did, while the second son said he would do his father’s wishes, but eventually did not. Such parable tells us that, while both statements appeared not to be true, actions are more impor� tant than statements. As it is writ� ten, Matthew 21:31-32 tells us, “Which of the two did what his fa� ther wanted?” “The first,” they an� swered. Jesus said to them, “Truly I tell you, the tax collectors and the prostitutes are entering the kingdom of God ahead of you. For John came to you to show you the way of righteousness, and you did not believe him, but the tax collec� tors and the prostitutes did. And even after you saw this, you did not repent and believe him.” By ap� plication, others can easily claim that they believe in God, but do things contrary to His command� ments. The bible was clear that not all who calls the Lord “lord” will enter the kingdom of God. Even so, why do people call Him Lord yet do not do what He commands? Believers are just as prone to give lip service whenever their actions betray what they speak or what they believe in. By analogy, some politicians may claim they will serve the Filipino people to the best of their abilities, but might eventually prioritize things to promote their own or their family’s interests. The Oath of a Public Servant recites the basic tenets of Filipino public service—Maka-Diyos, Maka-tao, Maka-kalikasan at Makabansa. Every person aspiring for any government position should mean exactly what they say. And whether you’re a candidate or a voter, you should put a stop to lip service. Learn to say no.

Election Series #1: PPPs and public works ban

Alfred Jean-Marie Borgonovo is senior financial management Specialist, Centre for Financial Reporting Reform, World Bank. Alfred is a certified professional accountant and has provided consultancy services to the Board of Accountancy. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa. secretariat.@gmail.com

Of late, I have been asked, can government agencies, i.e., national government agencies, govern� ment-owned and -controlled cor� porations (GOCCs), government instrumentalities and local gov� ernment units (LGUs), enter into PPP contracts during the so-called public works ban? What activities are being banned and if there are exceptions, especially for PPPs? When will the ban commence and how long will it last? Can PPP funds be expended during the period? What is this ban? Actually, there are two. The May 13, 2019 Election Calendar, per Resolution

10429 of the Commission on Elec� tions, prohibit the “Construction of public works, delivery of materials for public works and issuance of treasury warrant or similar devises for a future undertaking chargeable against public funds” and “Release, disbursement or expenditure of public funds.” These election of� fenses are defined under Section 261 (w) and (v), respectively, of the Omnibus Election Code (OEC). Who are covered? The ban on the release of public funds ex� tends to public officials and em� ployees including barangay offi� cials and those of GOCCs and their

subsidiaries, while the ban on the construction of public works cov� ers any person, public or private, including the PPP-private sector proponent (PSP). When is the ban? The period spans 45 days from any regular election. Next year, the ban is from March 29 to May 12. This co� incides with the campaign period for members of the House of Rep� resentatives and LGU officials. Why the ban? The reason be� hind these two bans is plain—the people’s money in the hands of the government and government works should not be used for par� tisan purposes and to advance the interests of a few. W hat are not covered under the ban? Not all releases of public funds and construction of public works are proscribed. The two bans do not extend to, subject to certain conditions: (1) maintenance of existing and/or completed public works project; (2) work undertaken by contract through public bidding held, or by negotiated contract awarded before the ban; (3) payment for the usual cost of preparation for working drawings, specifications, bills of materials, estimates and

weeks at 80 percent pay and fa� thers can take between zero to 10 weeks depending on their wives income. Together, parents can receive an additional 46 weeks of full pay or 56 weeks at 80 percent of their income. Hungary—Moms get 24 weeks of paid leave at 70 percent of their salary, after which parents can take another 156 weeks, split be� tween them. The time off is paid at 70 percent of their salary for 104 weeks and a flat rate covers the rest. Estonia—Mothers are given 140 days of fully paid pregnancy and maternity leave, fathers are given two weeks of paid time off. After maternity leave ends, par� ents get an additional 435 days off to share, with compensation

calculated at the average of their two earnings. Lithuania—Beats all the Nor� dic countries for their generous leave policies. New moms get 18 weeks fully paid leave, new fa� thers’ get four weeks and together the parents get an additional 156 weeks to share. For the shared portions, the parents can decide whether to have it paid out at 100 percent for the first 52 weeks (until the child turns one) or 70 percent for the first 104 weeks (until the child is two years old). The remaining weeks are unpaid. As shown above, on average across Organisation of Economic Co-operation and Development countries (which can easily af� ford paid leaves) mothers are entitled to 18 weeks of paid ma�

ternity leave around childbirth. Almost all OECD countries offer paid maternity leaves that last at least three months—which is not surprising given that both the ILO Convention and the current EU directives on maternity leave that mothers should have access to at least 14 weeks of leave around c h i ldbi r t h—w it h t he Un ited States the only country to offer no statutory entitlement to paid leave on a national basis. (https:// www.oecd.org) Women “require protection to ensure that they will not lose their jobs simply because of preg� nancy or maternity leave,” says the ILO. Our Congress’ Bicameral Conference Committee recently approved for President Duterte’s signature the “Expanded Mater�

nity Bill” which provides a total of 105 days paid maternity leave pe� riod for public and private-sector workers, with an option to extend for an additional 30 unpaid days; additional 15 maternity leave days for solo parents; and coverage of every instance of pregnancy. It also allows for an additional seven days leave for fathers, increasing paternity leave for 14 days. Au� thors of the bill and women advo� cacy group laud its passage as “a very positive start of our #Pink October campaigns that seeks to highlight women’s health.” But, already employers who are suf� fering from the exhorbitant costs of doing business in this country have started to grumble and might simply resolve not to hire women in their reproductive years. Will

By Alberto Agra

PPP LEAD Continued from A1

HIS new series is dedicated to those running in the 2019 midterm elections, desirable and otherwise, and most especially, the electorate and students of public-private partnerships (PPPs), who will hold the former accountable.

other procedures preparatory to actual construction; and (4) emer� gency work necessitated by the occurrence of a public calamity. What are the exempted PPP activities? PPP-related processes, regardless of the modality, govern� ing regulation and selection scheme, consists of six basic steps: (a) proj� ect identification and preparation of studies; (b) selection of the PSP through a competitive and trans� parent process; (c) issuance of the notice of award and signing of the PPP contract; (d) regulatory approv� als and issuance of notice to proceed; (e) construction; and (f) operations and maintenance. Juxtaposing these within the scope of the bans, the acts that are not penalizable are: (1) disbursing private funds by the PSP; (2) under� taking steps (a) to (d), and (e) for completed projects; and (3) release of public funds for PPP projects, if the government will contribute cash into the project, and/ or con� struction of the PPP project, which may be considered a public works, provided the PPP award was made before March 29. So to everyone, know your law and tread carefully, responsibly and intelligently.

the Social Security System be able to cover the additional maternity benefits for female employees in the private sector without increas� ing the SSS contributions? Will there be another round of TRAIN to cover this expanded maternity benefits—what about the prom� ised benefits to senior citizens, teachers, military, government employees, police, etc? We might not have a #Pink October should the government fail to fulfill this long-awaited benefit for women (crumbs com� pared to other countries). Another failed promise might just fan the dying flames of a “Red October” scenario. Indeed, the government must learn to stop making promises it can hardly keep!

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, October 22, 2018

SteelAsia to invest $25B in two wire-rod mills

By Elijah Felice E. Rosales

@alyasjah

HE country’s largest steel manufacturer has invested $25 billion (about P1.347 trillion) on two wire-rod mills that will produce 1 million tons a year and are seen to resurrect the country’s manufacturing industry. At present, the Philippines has no capacity to manufacture wire rods. SteelAsia Manufacturing Corp., however, looks to end that with the establishment of wire-rod mills in

the Visayas and in Central Luzon. SteelAsia Chairman and CEO Benjamin O. Yao said the country imports all 800,000 tons of wire-rod annual requirements.

Once the wire-rod mills become operational, their outputs can substitute imports amounting to $600 million a year. “At present, the Philippines has zero capacity for wire rods. That means, we are importing all our wire-rod requirements, which have reached 800,000 tons a year and climbing,” Yao said. “When operational, this import substitution will save the country around $600 million a year in foreign currency,” he added. Micro, small and medium enterprises (MSMEs) are expected to benefit from SteelAsia’s investment on wire-rod production. Wire rods are the main input for several products, such as machine parts, springs, cables, welding wires

and rods, mesh, nuts and bolts, screws and other fasteners, tools and tire cord, among others. MSMEs producing these items can gain from a local supply of wire rod, which, in turn, could link their supply to high-value manufacturing, including the automotive and machinery industries. This steel-based model for industrialization, according to SteelAsia, was drawn from the United States, Europe, Japan, South Korea, Taiwan and China. Yao said imported wire rods are too costly for MSMEs. This is one reason small enterprises that need wire rods as inputs for their products have difficulty competing with their imported counterparts of what they produce. “Hence, the Philippines has been

importing its nuts and bolts, wires, nails, welding rods, springs and even paper clips, staple wire and many other wire-rod-based products, while all these can actually be locally produced if only the Philippines had wire-rod manufacturing,” Yao said. The two mills are estimated to manufacture 500,000 tons a year each. The one in Visayas will service the requirements in the region, as well as Mindanao, while the one in Central Luzon will provide for the requirements in Metro Manila and

the rest of Luzon. SteelAsia has 11 operating plants across the country with capabilities on upstream, midstream and downstream steel production. It is the country’s largest steel manufacturer with over 2.6 million tons of annual output of several steel products. The firm has earmarked P100 billion in investments for the next five years to quadruple its capacity and help the Philippines be 70-percent steel self-sufficient, from the current 40 percent.

Meralco sees better financial results in Jan-Sept from higher energy sales By Lenie Lectura @llectura

HE Manila Electric Co. (Meralco) is expecting to post “slightly better” financial results for the nine-month period to September 2018, mainly on account of higher energy sales. “We expect slightly better results because of the volume,” Meralco President Oscar Reyes said, referring to the profit and revenue from January to September this year. “I think we are expecting a slight improvement in our income because volumes for this year are better than last year, particularly because of the first three months, which were very strong. But the volume started to soften particularly in August, which grew only by half a percent compared to August 2017. In September, growth was 2.5 percent,” Reyes said. Meralco is expected to release its

nine-month financial performance on October 29. Reyes said Meralco recorded a “little over 4.5-percent” growth in electricity sales from January to September this year. In the same period last year, Meralco posted a core income of P15.37 billion and a net income of P15.928 billion. Sales volume was higher at 4 percent to 31,401 gigawatt hours. Meralco has pending applications for seven power-supply agreements (PSAs) filed before the Energy Regulatory Commission (ERC). Reyes expressed optimism the PSA applications would be resolved soon by the commission after two of its commissioners—Josefina Patricia Magpale-Asirit and Geronimo Sta. Ana—who were suspended for 90 days, returned to work last October 10. Malacañang also recently appointed renewable-energy advocate Catherine

Maceda and Alexis Lumbatan as ERC commissioners. They replaced two former commissioners who reached retirement age. “We hope to be able to meet with the commissioners. We’re scheduling a courtesy call,” said Reyes. Meralco Chairman Manuel V. Pangilinan had said 2018 is going to be “a better year than 2017.” “So far, apart from economic conditions, there’s no reason why Meralco should not perform better,” Pangilinan had said. Pangilinan noted that during the second half of the year, the economy continues to expand, boosted by strong consumer spending and the growth in the service industry, and even the industrial sectors. Also, the ramping up of government infrastructure projects is expected to further lift the country’s growth prospects. “Consumer wallets continue to expand as money sent home by overseas Filipinos continues to grow, as well as from employ-

SMC unit to expand Pangasinan hydropower plant capacity to 1,200 MW

TRATEGIC Power Development Corp. (SPDC), the independent power producer administrator (IPPA) of the 345-megawatt San Roque power plant in Pangasinan, wants to expand the power capacity of the hydro facility to 1,200 MW. SPDC is a unit of SMC Global Power Holdings Corp., the power business of conglomerate San Miguel Corp. (SMC). “We have already planned this. After we pay PSALM [Power Sector Assets and Liabilities Management Corp.], we can now convert San Roque to pump hydro and produce 1,200MW,” SMC President Ramon S. Ang said. On December 15, 2009, SPDC successfully bid for the appoint-

ment to be the IPPA for the San Roque power plant and received a notice of award on December 28, 2009. SPDC assumed administration of the power facility on January 26, 2010, in accordance with an IPPA agreement with PSALM. SPDC is set to take over the 345MW hydroelectric multipurpose power project in 2024. Ang encouraged investors to put up more renewable-energy projects. “Filipinos should put up more pump hydro and battery storage. In some areas, you can put up wind and solar,” he added. In August last year, SPDC announced plans to build a 500-MW pumped storage hydro project in Tarlac province. In May last year, the Depart-

ment of Energy (DOE) approved three hydro-power projects of SMC. These are the 100-MW Nabuangan run-of-river hydro in Apayao, 500-MW Dingalan pumped storage hydroelectric plant in Aurora and the 400-MW San Roque Lower East Pumped Storage in Pangasinan. Ang also intends to install battery-energy storage possibly in all of its power facilities. “The idea is to put as many as possible.” Last July, Ang said the power business vows to “heavily” invest in the renewable-energy sector of up 10,000 MW. “We are going to heavily invest in hydro, wind, tidal and battery storage. We predict to invest up to 10,000MW in the next 10 years,” Ang said. Lenie Lactura

Jollibee opens first branch in London By VG Cabuag

@villygc

AST-FOOD company Jollibee Foods Corp. opened its first Jollibee branch in the United Kingdom over the weekend, part of the company’s accelerated expansion plans in Europe. The company is targeting to open 50 stores in five years in the whole of Europe, half of which will be in the UK. The London branch is only the second Jollibee store in Europe, following the launch of Jollibee Milan in March. “Today’s store opening is an

important event for our company’s expansion journey. We chose Earls Court as the location of the first UK store as it is the home of the largest Filipino community in London. We are delighted to share Jollibee’s signature brand of great-tasting food and friendly service to them,” said Ernesto Tanmantiong, the company’s CEO. “We want the Filipino community in London to experience ‘a taste of home’ when they dine and eat their favorite Jollibee dishes. We would also like the British people to experience the food and find out for themselves why people line up for hours and travel across countries

to have a taste of Jollibee,” he said. Jollibee, a homegrown brand that serves mostly Filipino communties overseas, claimed it has succeeded winning the loyalty of markets, such as Vietnam, Brunei Darussalam, Singapore and Hong Kong. Also launching in the second half of the year is their first store in Manhattan, the second branch in New York. Jollibee is also expected to expand to Malaysia and open their first store in Kota Kinabalu in the coming weeks. To date, there are more than 1,300 Jollibee brand stores globally.

ment generated by BPOs and POGOs. These have continued to drive the growth of commercial and residential energy sales volumes. However, economic headwinds from higher fuel and commod-

ity prices, higher exchange and interest rates, and inflation remind us to remain vigilant and cautious about our own growth targets, investments and spending,” he said.

The utility firm also registered 6.5 million customers by end-June, almost 5 percent higher, as new connections across all customer classes increased by 294,000 year-on-year.

Companies BusinessMirror

Monday, October 22, 2018

PSE STOCK QUOTATIONS

October 19, 2018

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED 59.35 59.45 BDO UNIBANK 119.8 120 BANK PH ISLANDS 82.5 82.95 CHINABANK 28.5 28.65 EAST WEST BANK 11.34 11.4 METROBANK 66.05 67 PB BANK 11.1 11.44 PBCOM 18.6 19.88 PHIL NATL BANK 41.3 41.4 PSBANK 72.4 78.4 RCBC 28.1 28.3 SECURITY BANK 152.4 152.5 UNION BANK 66 66.4 BRIGHT KINDLE 1.32 1.44 BDO LEASING 2.22 2.29 COL FINANCIAL 15.7 15.82 FERRONOUX HLDG 4.01 4.02 IREMIT 1.57 1.68 MEDCO HLDG 0.46 0.49 MANULIFE 786 800 NTL REINSURANCE 0.88 0.93 PHIL STOCK EXCH 187.1 189.9 SUN LIFE 1821 1899 VANTAGE 1.18 1.21

F I N A 59.35 118.3 82.15 28.7 11.82 67 11.44 18.6 40.7 79.75 27.4 152 66 1.44 2.57 15.82 4.1 1.56 0.485 791 0.93 189.9 1900 1.18

N C I A 59.45 121 82.95 28.75 11.82 67.75 11.44 19.88 41.55 79.75 28.8 153.5 66.9 1.44 2.57 15.82 4.1 1.69 0.485 791 0.93 189.9 1900 1.18

L S 58.5 59.45 32670 1934030 117.4 119.8 1840640 220202911 81.05 82.95 1222440 100499199 28.5 28.5 1391300 39655210 11.3 11.4 1084400 12341240 66.05 66.05 1771830 118639213.5 11.1 11.1 2700 30004 18.58 19.88 800 15002 40.7 41.4 9800 404485 70 78.4 3360 246849.5 27.4 28.3 3000 84580 150.3 152.5 894630 136235747 65.95 66.4 22050 1457298.5 1.44 1.44 1000 1440 2.2 2.27 96000 215380 15.7 15.7 1600 25142 4.1 4.1 1000 4100 1.56 1.69 26000 40820 0.485 0.485 10000 4850 785 786 470 370180 0.93 0.93 47000 43710 188.5 189.9 120 22718 1820 1820 95 173355 1.18 1.18 5000 5900

INDUSTRIAL

ALSONS CONS 1.27 1.28 1.31 1.31 1.3 1.3 142000 185000 ABOITIZ POWER 35.1 35.15 34.7 35.95 34 35.15 5085200 177654190 ENERGY DEVT 7.26 7.27 7.19 7.29 7.19 7.27 3607900 26224017 FIRST GEN 15.9 15.92 15.96 15.96 15.76 15.9 1532200 24239006 FIRST PHIL HLDG 64.9 65 64.95 65 63.7 65 87010 5622579.5 PHIL H2O 4.89 4.97 5.04 5.05 4.7 4.97 72000 351700 MERALCO 346.8 347 352.6 358.8 341.6 346.8 787880 273803428 MANILA WATER 25.75 25.8 26.45 26.45 25.6 25.8 3073000 79473495 PETRON 8.25 8.36 8.49 8.49 8.25 8.25 6276700 51852467 PHINMA ENERGY 0.96 0.97 0.95 0.97 0.95 0.97 122000 116360 PHX PETROLEUM 10.64 10.8 10.66 10.8 10.2 10.8 110900 1184408 PILIPINAS SHELL 50.65 51 53.65 53.65 50.65 50.65 640530 32982736.5 SPC POWER 5.19 5.2 5.2 5.21 5.19 5.19 199000 1034661 VIVANT 17.02 19.98 19.98 19.98 19.98 19.98 100 1998 AGRINURTURE 17.9 18.1 17.98 18.16 17.92 18.1 280600 5051460 CNTRL AZUCARERA 16.8 17.32 16.7 16.8 16.6 16.8 4100 68470 CENTURY FOOD 13.48 13.5 13.56 13.56 13.48 13.48 507400 6843420 DEL MONTE 6.6 7.1 7 7 7 7 1200 8400 DNL INDUS 10.8 10.82 10.78 10.8 10.7 10.8 3775900 40531058 EMPERADOR 6.99 7 6.99 7 6.98 7 257500 1801280 SMC FOODANDBEV 84.1 84.15 85.25 86 84.05 84.15 1146370 96868997 ALLIANCE SELECT 0.96 0.97 0.95 0.98 0.94 0.96 2084000 1989040 GINEBRA 24.7 25.9 25 25.9 24.5 25.9 4400 109630 JOLLIBEE 264.8 265 261 265 258 265 328340 86535340 MAXS GROUP 10.84 10.9 10.86 10.9 10.8 10.9 77300 837158 MG HLDG 0.175 0.18 0.172 0.178 0.172 0.175 640000 112180 PEPSI COLA 1.63 1.65 1.63 1.65 1.62 1.65 55000 89940 SHAKEYS PIZZA 11.38 11.8 11.88 11.88 11.38 11.4 23600 269220 ROXAS AND CO 2.23 2.32 2.21 2.32 2.21 2.32 34000 76080 RFM CORP 4.8 4.88 4.81 4.81 4.8 4.8 100000 480290 UNIV ROBINA 145.8 145.9 145.8 146 145 145.9 2880540 418510882 VITARICH 1.64 1.65 1.67 1.67 1.63 1.65 1314000 2164180 CEMEX HLDG 2.22 2.26 2.27 2.29 2.22 2.22 6704000 15138070 EAGLE CEMENT 14.76 15.1 14.76 14.76 14.7 14.76 8800 129758 EEI CORP 7.96 8 8 8 7.96 8 203000 1623992 HOLCIM 6.4 6.45 6.2 6.46 6.2 6.4 13200 83758 MEGAWIDE 16.94 16.98 17.06 17.14 16.82 16.98 901000 15,300,294( PHINMA 9 9.01 9 9.02 9 9 57400 516620 TKC METALS 0.9 0.94 0.9 0.95 0.9 0.9 48000 44080 VULCAN INDL 2.59 2.6 2.68 2.75 2.58 2.6 25973000 68947540 CHEMPHIL 190 200 190 190 190 190 210 39900 CROWN ASIA 1.59 1.6 1.61 1.61 1.6 1.6 326000 522530 LMG CHEMICALS 4.79 4.88 4.8 4.88 4.79 4.79 56000 268490 PRYCE CORP 5.56 5.89 5.9 5.9 5.85 5.85 1400 8240 CONCEPCION 38.15 39.45 38.6 39.45 36 39.45 19800 714290 INTEGRATED MICR 11.88 11.9 12.2 12.2 11.88 11.9 471700 5627786 IONICS 1.7 1.72 1.73 1.8 1.7 1.7 380000 650680 PANASONIC 5.87 6.39 6.39 6.39 6.39 6.39 200 1278 SFA SEMICON 1.52 1.54 1.56 1.57 1.51 1.57 172000 267860 CIRTEK HLDG 36.15 36.95 36.5 36.95 35.5 36.95 668600 24520630 HOLDING & FRIMS ABACORE CAPITAL 0.475 0.48 0.455 0.48 0.435 0.48 87130000 40781550 ASIABEST GROUP 26.35 26.4 26.5 26.6 26 26.4 12000 316020 AYALA CORP 910 915 907 917 901 910 130230 118434895 ABOITIZ EQUITY 46.7 47.8 47 47.8 46.05 47.8 907600 42893455 ALLIANCE GLOBAL 11.88 11.9 11.9 12.02 11.68 11.9 2856800 33901502 ANSCOR 6.1 6.15 6.14 6.15 6.14 6.15 17000 104450 ATN HLDG A 1.16 1.17 1.21 1.21 1.17 1.17 5380000 6360540 ATN HLDG B 1.18 1.19 1.2 1.2 1.18 1.19 1989000 2369190 COSCO CAPITAL 6.7 6.77 6.48 6.85 6.43 6.7 7384900 49327055 DMCI HLDG 12.3 12.34 12.44 12.84 12.14 12.34 8899300 110864426 FILINVEST DEV 7.11 7.19 7.19 7.2 7.1 7.1 814700 5863107 GT CAPITAL 728.5 738 740 750 725 728.5 81150 59467500 HOUSE OF INV 5.95 6.01 6.02 6.02 5.95 5.95 2300 13692 JG SUMMIT 48 48.05 47.5 49.25 47.5 48 1172000 56495800 LODESTAR 0.52 0.55 0.55 0.55 0.52 0.53 172000 90890 LOPEZ HLDG 4.33 4.44 4.47 4.47 4.39 4.44 109000 485360 LT GROUP 13.28 13.3 13.26 13.56 13.2 13.28 6590400 87641206 MABUHAY HLDG 0.51 0.53 0.52 0.53 0.51 0.53 276000 143040 METRO PAC INV 4.94 4.95 4.98 4.98 4.88 4.95 11221800 55462442 PACIFICA 0.037 0.038 0.037 0.037 0.037 0.037 4400000 162800 PRIME ORION 2.41 2.42 2.36 2.44 2.36 2.41 558000 1339500 SOLID GROUP 1.4 1.41 1.35 1.41 1.35 1.4 37000 51870 SM INVESTMENTS 863.5 867 865 866 853.5 865 170390 147256160 SAN MIGUEL CORP 157.9 158 163 165.9 153 158 497760 78976008 SOC RESOURCES 0.81 0.82 0.81 0.81 0.81 0.81 127000 102870 TOP FRONTIER 268 277 275 277 268 277 1580 435760 WELLEX INDUS 0.229 0.232 0.227 0.231 0.226 0.231 370000 84530 ZEUS HLDG 0.19 0.21 0.21 0.21 0.21 0.21 150000 31500 PROPERTY ARTHALAND CORP 0.63 0.64 0.62 0.65 0.62 0.64 338000 216090 ANCHOR LAND 11.02 11.96 10.1 11 10.1 11 800 8620 AYALA LAND 40.85 40.9 40.1 40.95 39.8 40.9 4918700 200477990 ARANETA PROP 1.94 2 1.98 1.98 1.94 1.94 39000 76460 BELLE CORP 2.37 2.38 2.39 2.45 2.37 2.38 111000 266880 A BROWN 0.77 0.78 0.76 0.78 0.76 0.78 307000 236300 CITYLAND DEVT 0.9 0.92 0.9 0.92 0.89 0.92 12000 10820 CROWN EQUITIES 0.21 0.219 0.22 0.22 0.21 0.21 300000 63290 CEBU HLDG 5.2 5.35 5.15 5.35 5.15 5.35 7500 38725 CEB LANDMASTERS 4.32 4.39 4.34 4.39 4.3 4.39 491000 2141230 CENTURY PROP 0.415 0.42 0.42 0.42 0.415 0.42 2070000 860950 DOUBLEDRAGON 20.05 20.15 20 20.2 19.86 20.15 280900 5623254 DM WENCESLAO 7.98 7.99 7.71 8 7.71 7.99 394700 3153497 EMPIRE EAST 0.52 0.53 0.53 0.53 0.53 0.53 256000 135680 EVER GOTESCO 0.105 0.117 0.105 0.105 0.105 0.105 30000 3150 FILINVEST LAND 1.43 1.45 1.44 1.44 1.42 1.43 33714000 48227190 GLOBAL ESTATE 1.07 1.08 1.07 1.08 1.06 1.08 1058000 1132770 8990 HLDG 7 7.1 7 7.1 6.92 7.1 1192100 8306629 IRC PROP 2.3 2.32 2.2 2.34 2.19 2.3 13551000 31008770 MEGAWORLD 4.4 4.41 4.36 4.43 4.24 4.4 12040000 52210080 MRC ALLIED 0.6 0.61 0.6 0.61 0.59 0.61 14876000 8983170 PHIL ESTATES 0.415 0.425 0.415 0.415 0.415 0.415 90000 37350 PRIMEX CORP 3.19 3.2 3.05 3.19 3.01 3.19 3877000 12134570 ROBINSONS LAND 20.9 21.45 20.75 21.45 20.2 21.45 1742200 36760815 PHIL REALTY 0.41 0.44 0.41 0.43 0.41 0.43 60000 25100 ROCKWELL 1.91 1.95 1.9 1.94 1.9 1.94 35000 67740 SHANG PROP 3.12 3.17 3.12 3.12 3.12 3.12 8000 24960 STA LUCIA LAND 1.09 1.12 1.12 1.12 1.1 1.12 611000 677240 SM PRIME HLDG 34.45 34.5 34.45 34.5 33.9 34.5 6069700 209119455 STARMALLS 6 6.02 6.08 6.08 5.9 6 70900 423958 VISTA LAND 5.4 5.41 5.38 5.47 5.35 5.41 12323000 66529717 SERVICES ABS CBN 21.25 21.3 21.3 21.3 20.9 21.3 23700 502090 GMA NETWORK 5.15 5.17 5.2 5.2 5.15 5.18 133600 691663 GLOBE TELECOM 1915 1952 2000 2040 1915 1915 80635 157186110 PLDT 1423 1430 1425 1436 1390 1430 73660 105077940 APOLLO GLOBAL 0.039 0.041 0.04 0.041 0.039 0.041 2800000 110300 DFNN INC 8 8.39 7.71 8 7.71 8 7600 58944 ISLAND INFO 0.106 0.11 0.108 0.11 0.105 0.11 2070000 221740 JACKSTONES 2.92 3.04 3.03 3.04 2.91 3.04 20000 59410 NOW CORP 5.25 5.29 5.42 5.42 5.12 5.29 4163700 21707591 TRANSPACIFIC BR 0.53 0.54 0.51 0.55 0.51 0.54 40966000 21802380 PHILWEB 3.58 3.59 3.55 3.65 3.52 3.58 196000 696830 2GO GROUP 11.28 11.3 10.9 11.28 10.9 11.28 155900 1717868 CEBU AIR 64.5 65.9 66 66.9 64.5 64.5 800530 51958821.5 CHELSEA 5.66 5.67 5.61 5.86 5.58 5.67 6783100 38600434 INTL CONTAINER 94.65 95 94 95.1 93.9 95 526830 49911676 LORENZO SHIPPNG 0.84 0.85 0.85 0.87 0.82 0.85 100000 83510 MACROASIA 18.2 18.22 18.14 18.24 18 18.22 636600 11513464 METROALLIANCE A 1.36 1.39 1.39 1.39 1.35 1.39 26000 35510 PAL HLDG 8 8.36 8.38 8.38 8.38 8.38 1200 10056 HARBOR STAR 2.62 2.63 2.64 2.7 2.6 2.63 1647000 4341420 ACESITE HOTEL 1.3 1.37 1.4 1.4 1.37 1.37 22000 30740 WATERFRONT 0.58 0.59 0.59 0.6 0.56 0.59 2175000 1256270 IPEOPLE 11.6 12.38 12.4 12.4 11.6 12.38 1500 17660 STI HLDG 0.79 0.8 0.81 0.81 0.78 0.79 3136000 2484150 BERJAYA 1.68 1.69 1.7 1.7 1.64 1.69 1396000 2317660 BLOOMBERRY 8.71 8.74 8.65 8.74 8.5 8.74 2917500 25214279 PACIFIC ONLINE 10.56 10.98 10.56 10.56 10.56 10.56 1000 10560 LEISURE AND RES 3.6 3.65 3.5 3.66 3.5 3.6 832000 2999090 MANILA JOCKEY 5.1 5.29 5.1 5.2 5.1 5.1 158100 806520 MELCO RESORTS 7.11 7.17 7.04 7.24 7 7.11 10794000 76500576 PREMIUM LEISURE 0.83 0.84 0.82 0.86 0.82 0.84 2639000 2215910 TRAVELLERS 5.2 5.21 5.2 5.21 5.17 5.21 1761700 9155976 METRO RETAIL 2.22 2.25 2.25 2.3 2.19 2.22 355000 786420 PUREGOLD 40.4 40.65 40.2 40.7 40 40.4 1006400 40560795 ROBINSONS RTL 76.5 77.8 76 77.5 75.8 76.5 468220 35790128.5 PHIL SEVEN CORP 106.4 111.9 106.2 111.9 106.2 111.9 15840 1772097 SSI GROUP 2.63 2.64 2.62 2.65 2.53 2.63 13391000 34418080 WILCON DEPOT 11.12 11.2 10.88 11.2 10.78 11.2 2202700 24401616 APC GROUP 0.435 0.455 0.455 0.455 0.43 0.435 2520000 1090550 EASYCALL 14.1 14.12 14.6 14.96 14.1 14.12 83700 1197136 GOLDEN BRIA 301.2 310 301.4 310 301.2 310 3490 1077098 PRMIERE HORIZON 0.345 0.355 0.34 0.355 0.34 0.355 30000 10500 SBS PHIL CORP 6.72 7.44 6.71 6.76 6.71 6.72 29000 195417 MINING & OIL ATOK 15.06 15.7 16.7 17.3 15.02 15.06 11200 183098 APEX MINING 1.59 1.6 1.56 1.63 1.55 1.59 13425000 21430950 ABRA MINING 0.0023 0.0024 0.0023 0.0024 0.0022 0.0023 1641000000 3716700 BENGUET A 1.22 1.3 1.27 1.27 1.22 1.22 11000 13470 COAL ASIA HLDG 0.3 0.305 0.305 0.305 0.305 0.305 220000 67100 CENTURY PEAK 1.89 1.9 1.92 1.92 1.9 1.9 836000 1590560 DIZON MINES 7.3 7.4 7.36 7.4 7.28 7.28 2500 18276 FERRONICKEL 1.8 1.81 1.82 1.83 1.81 1.81 549000 996210 GEOGRACE 0.212 0.214 0.208 0.215 0.208 0.212 460000 98290 LEPANTO A 0.11 0.111 0.11 0.11 0.11 0.11 150000 16500 LEPANTO B 0.109 0.112 0.111 0.112 0.109 0.112 250000 27560 MANILA MINING A 0.0075 0.0076 0.0074 0.008 0.0074 0.0076 18000000 136600 NIHAO 1.05 1.07 1.07 1.08 1.06 1.07 10000 10700 NICKEL ASIA 2.73 2.74 2.8 2.8 2.67 2.74 1366000 3761140 OMICO CORP 0.63 0.65 0.61 0.61 0.61 0.61 28000 17080 ORNTL PENINSULA 1.04 1.05 1.01 1.06 1.01 1.05 446000 459680 PX MINING 3.22 3.26 3.19 3.25 3.19 3.22 4303000 13861490 SEMIRARA MINING 28.95 29.5 27.8 29.5 27.15 29.5 8768500 255363340 UNITED PARAGON 0.0064 0.0068 0.0069 0.007 0.0069 0.007 2000000 13900 ORNTL PETROL A 0.012 0.013 0.014 0.014 0.013 0.013 10400000 139200 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.012 17200000 216300 PHINMA PETRO 4.11 4.2 4.33 4.33 4.12 4.2 63000 261570 PXP ENERGY 16.06 16.08 16.5 16.9 15.84 16.06 3851500 63004894 PREFFERED HOUSE PREF A 96 99 96.05 96.05 96.05 96.05 850 81642.5 AC PREF B2 486.4 498 495 495 495 495 100000 49500000 ALCO PREF B 100.3 102 100.5 100.5 100.3 100.3 10000 1003028 DD PREF 97.6 97.7 98 98 97.7 97.7 11650 1138440 SMC FB PREF 2 984 1000 1000 1000 1000 1000 1150 1150000 FGEN PREF G 100.8 103 101 103 100.8 100.8 5990 605012 GLO PREF P 482.2 489 482.2 482.2 482.2 482.2 100000 48220000 GTCAP PREF A 886.5 960.5 886.5 886.5 886.5 886.5 10590 9388035 GTCAP PREF B 882.5 939 900 900 881.5 881.5 50 44815 LR PREF 1.01 1.02 1.03 1.03 1.02 1.02 138000 140770 MWIDE PREF 100.1 102 100 100 100 100 50 5000 PNX PREF 3A 100 102.9 100.1 100.1 100.1 100.1 420 42042 PCOR PREF 2B 1006 1019 1005 1019 1005 1019 20 20240 SMC PREF 2B 75.15 76 76 76 76 76 50 3800 SMC PREF 2C 76.95 77 76.6 77 76.6 77 3250 250234 SMC PREF 2D 72.7 74.75 74.7 74.7 74.7 74.7 350 26145 SMC PREF 2E 73.75 75 75 75 75 75 300 22500 SMC PREF 2F 74.2 75.2 75.25 75.25 75.2 75.2 4140 311398 SMC PREF 2G 74.5 75 75 75 75 75 50 3750 SMC PREF 2H 73.5 74.9 74.9 74.9 74.9 74.9 1300 97370 SMC PREF 2I 73.7 74.7 74.7 74.7 74.7 74.7 700 52290

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

21 4.95

21.45 6.38

21 5

20 4.95

21 4.95

2200 105000

44200 520000

WARRANTS LR WARRANT

2.45

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.94 XURPAS 1.91 107

-26200 56808699.9998 21445807 -6317724 2196942.5 -96833942 7306970 -540003 -632440 -13972876 395168 104062 33332742 -1055404 -68842290.5 -12580 39254290 -26370 -0 -2023958 -3568240 -10326 5,080,055.9995) 649470 -5900 -670400 -724234.0002 -264420 365855 -245300 20840 -17696310 2809395 -10202614 61400 3122035 50286050 -9399775 -8764610 48890 -2777028 -520 5918282 -7050 -67307045 -44311974 4633190 -108310 -2675 -29400 -30749.0004 -5302010 -22500 -169412 169660 -17637320 -135000 1650880 9123400 60140 24960 -46749745 -25567543 -73097840 23115940 15420 -931673 244620 -313390 -11000 -20240552 108780 -4448043.5 3614944 15840 -645690 -2062898 -76010 -20670677 149920 -2874724 -17740 -26166725 -9976138 43641 8690290 -7762458 62000 -191386 173840 115000 76100 -110430 -1080 -357110 -3558870 87645110 -3609438 -244106 -2000 -520000

2.48

2.51

2.45

223000

551390

4.95 1.93

4.97 1.92

5.05 1.93

4.94 1.9

4.95 1.91

239000 1179000

1190530 2249390

19840 -794330

EXHANGE TRADE FUNDS FIRST METRO ETF

1457541 127086600 -25490612 -2192290 -7751024 -67634081 -25020 -1078963 -838470 -

107.4

106.9

107.5

106.9

107.4

4430

474981

103110

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Marina allows Negros Navigation to operate several routes between Manila, Mindanao

By Lorenz S. Marasigan

@lorenzmarasigan

HE Maritime Industry Authority (Marina) has permitted Negros Navigation Co. Inc., the holding company of 2GO Group Inc., to provisionally operate several routes between Manila and cities in Mindanao to cater to the demand for the October holidays. Originally applied by 2GO, Marina allowed Negros Navigation to

operate these destinations from Manila: Iloilo, Zamboanga, General

Santos and Davao. The vessels to be used by the listed company for the said routes are still “under final repairs,” hence the provisional granting of authority to its parent company. 2GO is also still waiting for the issuance of its certificate of public convenience. Marina said the reopening of the routes between the country’s capital and Mindanao cities will provide passengers with “a cheaper transport option,” saying current prices for an air trip will range for P3,000 to P5,000 per sector, while the Manila-Davao route is only P2,600 per way. “As the single maritime admin-

istration in the Philippines that is responsible in establishing and prescribing routes, zones or areas of operations of domestic ship operators, Marina supports the reopening of passenger shipping operations to serve the ManilaIloilo-Zamboanga-General SantosDavao routes,” Marina said. Udenna Corp. is the holding company of the two maritime firms. It is controlled by Davaobased businessman Dennis A. Uy, a close associate of President Duterte, who ordered Marina to provide “safe, convenient and comfortable means of transportation for passengers living in far-flung areas.”

Megaworld expects sales of ₧700 million in its first condo in Gen. Trias By VG Cabuag @villygc

EGAWORLD Corp., the property development arm of businessman Andrew Tan, said it is launching its first residential development inside the 140-hectare Maple Grove in General Trias, Cavite. The company said it is expecting to generate P700 million in sales for this first residential project in its mixed-use development. It is set to be completed in 2023. Located along its main six-lane avenue, the 10-story Verdin at Maple

Grove will integrate environmental sustainability features, complementing the development’s vision as Cavite’s “green” central business district. “Maple Grove will become a sanctuary of urban countryside and sustainable lifestyle. A huge part of the master plan will be Makati-inspired, where green parks and interconnected streets are surrounded by malls, office buildings and residential towers,” said Rachelle Peñaflorida, the company’s vice president for sales and marketing. The residential tower will be highlighted by its own “sustainabil-

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices recovered last week with the main index closing at the 7,100-point level, breaking its six straight weeks of falling prices. The benchmark Philippine Stock Exchange index gained 146.75 points to close at 7,151.52 points, but foreign investors remained net sellers while volume of trade was still depressed. “Western markets saw a slight recovery after the massive drop last week. However, Asian markets were not as fortunate except for the PSEi,” said Christopher Mangun, research head at Eagle Equities Inc. Foreign investors were still net sellers at P1.95 billion. Analysts said foreign investors are dumping local stocks for 37 straight trading sessions. Value of trade only hit an average of P4.46 billion for the week on 4.08 billion shares traded. “We did better than our Asian peers despite low trading volumes and continuous foreign outflows. There may be some light at the end of the tunnel, but it is all going to come down to the performance of this market in the next couple of months,” Mangun said. With the exception of the Services index that went down by a mere 0.41 point to 1,487.69, all other subindices closed on the green. The broader All Shares index gained 57.85 to 4,359.65; the Financials index rose 62.69 to 1,612.55; the Industrial index climbed 231.46 to 10,806.83; the Holding Firms index was up 70.45 to 6,867.37; the Property index added 98 to 3,577.81; and the Mining and Oil index surged 842.37 to 9,617.80. Gainers led losers 144 to 78 and 18 shares were unchanged. Top gainers for the week were Benguet Corp. A and B shares, Liberty Flour Mills Inc., PTFC Redevelopment Corp., Vulcan Industrial and Mining Corp., Chelsea Logistics Holdings Corp. and 2GO Group Inc. Top losers were Philippine Bank of Communications, Manila Bulletin Publishing Corp., DFNN Inc., Primex Corp., BDO Leasing and Finance Inc., Filipino Fund Inc. and Globe Telecom Inc.

THIS WEEK

SHARE price may continue to gain ground this week as there are signs market prices start to consolidate with investors preparing for the release of third-quarter figures. “Players have already factored in Wall Street’s ‘October struggle phenomenon,’ the market will test moving toward 7,400 with the end objective of returning to 7,800,” broker 2TradeAsia said. It recommended to seize opportunities during the “decoupling” period as some funds gradually reposition its money on over-beaten stocks. It sees immediate support at 7,050 and resistance at 7,400. “By next week, we will start to see third-quarter corporate earnings reports come in. If we earnings exceed expectations, this may be the catalyst the market is waiting for to start going up again,” Eagle’s Mangun said. He added the market still lacks a catalyst and with constant foreign selling. “We aren’t going to see this market perform any better,” he said.

STOCK PICKS

BROKER Regina Capital and Development Corp. recommended to buy Universal Robina Corp. (URC) if its support price of P144.70 to P142.10 holds. It said technical indicators show bullishness on the stock. “Profit-taking might continue in the following days so it is important to observe first where URC will bottom out and form a jumping board for a rally,” it said. URC shares closed last week at P145.90. The broker also recommended to buy when prices of chemical firm D&L Industries Inc. (DNL) drop after its monthlong price ascent fell short yet again of its strong resistance at P10.82, its 50-day moving average. “However, the stock was also able to reestablish a higher support in the process, now located at P10.60. Therefore, even if the stock fails to break out of the upper limit, there will be a respite for DNL to find footing and make another attempt for a breakout,” it said. DNL shares closed last week at P10.80 apiece. VG Cabuag

ity wall” in the main lobby, solarpowered outlets in various parts of the outdoor amenity deck, use of recycled and indigenous materials for the pool deck and children’s playground equipmen, and the use of energy-generating equipment and machines in the outdoor fitness area. It will offer seven levels of residential units ranging from studio of up to 32 square meters, one-

MUTUAL FUNDS

bedroom of up to 51 sq m and twobedroom of up to 79 sq m. Select units will have their own lanai, overlooking the scenic green parks and cityscape of the township. The low density, mid-rise tower will only have 140 units. It will also have two levels of podium parking and a retail row at the ground level, providing convenient access to its residents.

October 19, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 243.01 -16.28% -1.05% 0.1% -17.12% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3885 -13.95% 3.34% 1.75% -13.04% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.7788 -16.53% -0.14% -0.76% -17.72% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8703 -13.68% N.A. N.A. -14.42% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8023 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 4.9959 -15.02% -2.47% -0.75% -16.92% MBG EQUITY INVESTMENT FUND, INC. * ****** 110.8 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8008 -17.37% N.A. N.A. -19.33% PAMI EQUITY INDEX FUND, INC.* 47.2342 -15.16% -0.24% N.A. -16.24% PHILAM STRATEGIC GROWTH FUND, INC.* 491.6 -15.82% -1.59% -0.96% -16.46% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.217 -12.65% 0.73% N.A. -13.34% PHILEQUITY FUND, INC.* 35.4226 -12.39% 1.04% 2.12% -13.8% PHILEQUITY PSE INDEX FUND INC.* 4.7496 -15.15% 0.43% 1.91% -16.29% PHILIPPINE STOCK INDEX FUND CORP.* 792.88 -15.08% 0.2% 1.57% -16.16% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8241 -14.19% -1.99% N.A. -14.79% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9132 -13.38% 0.07% 0.27% -14.56% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9144 -15.29% 0.26% N.A. -16.36% UNITED FUND, INC.* 3.3666 -11.59% 1.09% 0.26% -13.55% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* ***106.0353 -14.59% 1.37% N.A. -15.82% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9448 -13.09% 1.07% -0.67% -14.75% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.2383 1.38% N.A. N.A. -2.13% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.608 -13.1% -3.41% -2.35% -13.71% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1511 -11.84% -0.66% -0.22% -12.45% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4608 -10.35% -3.64% -3.02% -11.16% GREPALIFE BALANCED FUND CORPORATION* **** 1.2772 -12.23% N.A. N.A. -12.21% NCM MUTUAL FUND OF THE PHILS., INC* 1.792 -9.14% -0.42% -0.38% -10.06% PAMI HORIZON FUND, INC.* 3.3914 -13.46% -2.24% -1.43% -13.44% PHILAM FUND, INC.* 15.2625 -13.13% -2.18% -1.5% -13.07% SOLIDARITAS FUND, INC.* ******** 2.0122 -10.23% -0.21% 1.26% -10.25% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.5585 -10.13% -0.93% -0.45% -10.96% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9007 -10.48% -1.4% N.A. -11.72% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03464 -3.99% -0.66% 1.62% -4.04% PAMI ASIA BALANCED FUND, INC.* $0.9394 -9.65% 0.71% -1.68% -10.28% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.5643 0.23% 4.45% 2.89% -2.41% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0747 -2.24% N.A. N.A. -3.37% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.32 1.35% 1.78% 1.69% 1.25% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8569 -2.57% -1.14% -0.39% -1.87% COCOLIFE FIXED INCOME FUND, INC.* 2.9427 5.46% 5.35% 5.3% 4.28% EKKLESIA MUTUAL FUND INC.* 2.1127 -0.39% 0.9% 1.05% 0.5% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2118 -0.33% 0.07% 0.47% -0.2% GREPALIFE FIXED INCOME FUND CORP.* P 1.5725 -2.56% -1.27% -1.03% -2.3% PHILAM BOND FUND, INC.* 3.7634 -8.27% -2.51% -1.11% -7.08% PHILEQUITY PESO BOND FUND, INC.* 3.4524 -1.1% -0.76% 0.06% -1.5% SOLDIVO BOND FUND, INC. * 0.8692 -6.85% -2.41% N.A. -5.85% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7491 -1.08% -0.08% 0.4% -1% SUN LIFE PROSPERITY GS FUND, INC.* 1.5299 -1.43% -0.56% 0.01% -1.28% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.81 0.17% 2.08% 3.04% -0.03% ALFM EURO BOND FUND, INC. * Є213.23 0.05% 1.31% 1.68% -0.23% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1207 -1.11% 0.7% 1.76% -1.18% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 - 0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6897 -5.04% -0.69% 1.19% -4.62% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0232 -5.47% -1.92% -2.67% -4.69% PHILAM DOLLAR BOND FUND, INC.* $2.1342 -5.01% 0% 2.3% -5.19% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568657 -1.02% 0.82% 1.85% -0.58% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8766 -4.75% 0.34% 1.7% -4.52% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 119.9 2.25% 1.67% 1.44% 1.95% PHILAM MANAGED INCOME FUND, INC.* 1.1715 1.52% 0.29% 0.33% 1.22% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2104 2.43% 2.16% 1.41% 2.1% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.012 N.A. N.A. N.A. 1.33% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

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BusinessMirror

Monday, October 22, 2018

Agriculture/Commodities

Monday, October 22, 2018 • Editor: Jennifer A. Ng

BusinessMirror

DA suspends onion imports until year-end

By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) has suspended the importation of onion until the end of the year after local growers vowed to cut prices as supply remains ample. Agriculture Secretary Emmanuel F. Piñol issued Department Order 11 which temporarily disallowed the use of unused sanitary phytosanitary import clearances. The SPS-IC is issued by the Bureau of Plant Industry (BPI), an attached agency of the DA, which permits traders to bring in imported agricultural products. “In support to the local onion growers, and in view of the sufficient supply of onion in the local market, the utilization of the unused sanitary and phytosanitary import clearance is hereby temporarily suspended,” the document dated October 17 read, which is available on the DA’s web site. “This order shall take effect immediately and shall remain in force until revoked or amended,” it added. In a separate interview on Sunday, Pi-

ñol said he issued the order following a “compromise” with local onion producers who vowed to release their stocks, which is sufficient until December 31, at P60 per kilogram (kg). “It was a compromise reached after local onion farmers said they still had 14,000 [metric tons of red onion], which they were willing to release at P60 per [kilogram],” Piñol told the BusinessMirror. “[The volume] would last until the end of the year.” In August Piñol suspended the special safeguard (SSG) duty on onion imports, which was expected to pull down retail prices of white and red onion to P55 per kg and P65 per kg, respectively. However, some growers criticized the lifting of the SSG duty in September due to the alleged lack of consultations. Some onion growers argued that the

entry of cheaper onion imports would pull down average farm-gate prices as the sector still has ample supply to meet the country’s demand for three months. Piñol said reinstating the SSG duty on onion imports would not be needed anymore as the country will no longer import onions. “Without importation, there’s no need to reimpose the SSG. We will closely monitor prices in the market and act accordingly,” he said. “The prices are very low [now]. It’s between P35 [per kg] to P40 [per kg] in the market.” The latest DA price monitoring report showed that as of October 19, the average retail price of red onion in Metro Manila markets remained flat at P87.50 per kg compared to that registered on October 17. The report also indicated that the average retail price of imported red onion during the same period fell by 4.66 percent to P74.84 per kg, from P78.5 per kg recorded on October 17. In its separate price monitoring report, the Philippine Statistics Authority noted that the prevailing retail price of red onion in the National Capital Region remained at P80 per kg until the second week of October. Retail prices of red onion in Metro Manila went up to as high as P108.33 per kg in August, which was nowhere near its previous year’s average quotation of P65 per kg.

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Male farmworkers earn more than women–study A

STUDY released by state-owned think tank Philippine Institute for Development Studies (PIDS) confirmed that male farmworkers earn more than their female counterparts, with the wage gap even breaching 100 percent in the rice sector. In a study conducted by PIDS Senior Research Fellow Roehlano M. Briones said the wage gap between male and female farmworkers could reach over 100 percent in the case of certain crops. Briones said the wage difference between male and females in the farm sector could reach 103.6 percent in palay; 85.4 percent in corn; 78.5 percent in coconut and 68.6 percent in sugarcane. “The study finds that the main source of gender wage gap in Philippine agriculture is the difference in wage for the same activity; for corn, coconut, and sugar, the activity share accounts for one-eighth and one-third of the wage gap in percent. The remainder is due to wage bias by activity. In the case of palay workers, the wage gap is more than 100 percent,” Briones said. With this, Briones urged the government to prioritize women as recipients of state services and transfers; establish women’s groups; and support for gender mainstreaming and protection of women’s rights at the grassroots. Prioritizing women in government services and transfers means increasing their access to agricultural grants, subsidies, training, and other services that lack focus on women and tend to be captured by men. “In many of these programs, identity of recipient can be explicitly specified as the female spouse or head of household, increasing women’s control over household resources and indirectly their bargaining power,” Briones said.

The creation of women’s groups, he said, will improve women’s access to rural labor market information. He said there was a tendency for government labor programs without a strong gender dimension, particularly in rural areas. He added that publicizing the experiences and data on wages paid through womendominated rural improvement clubs will go a long way toward removing the wage gap. Further, in order to promote gender mainstreaming, Briones said there is a need to conduct information campaigns at the grassroots, including male operators about women’s rights and gender equality. This will help remove the discriminatory treatment of women. “It goes almost without saying that the full instrumentality of the state, down to the barangay level, must be applied to protect women’s rights against violence and violations at all levels, at the domestic, community and national levels,” he said. He said previous data showed that women comprise on average, 43 percent of the agricultural labor force in developing countries, with their contribution varying widely depending on activity. However, women in agriculture and rural areas face higher barriers in gaining access to productive resources and opportunities compared to men, namely for land, livestock, labor, education, extension, finance and technology. Closing the gender gap in agriculture could potentially raise yields on their farms by 20 to 30 percent, thereby raising agricultural output of developing countries by up to 4 percent, and the number of hungry people in the world by up to 17 percent. Cai U. Ordinario

The Regions BusinessMirror

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Kanegosyo Congress to sustain Davao’s ‘sari-sari’ stores—NCCC

AVAO CITY—The pioneering businessmentoring program for sari-sari stores in the Davao region has continued to sustain many of these communitybased micro-sellers through the year, mainly through business management and linking them direct to the commodity suppliers, the owner of a chain of shopping malls here said. LTS Malls Inc. CEO Lafayette Lim credits the Kanegosyo (business partnership) Congress for the sustainable operation of many of the more than 100,000 stores participating in the activity. This 19-year-old program was initiated by the New City Commercial Center (NCCC), the mall chain LTS Malls operates. LTS Malls oversees the operation of the NCCC group of 20 superstores, 25 Choice marts and 50 Health and Beauty 1 (HB1) pharmacy stores in the Island Garden City of Samal, Davao del Norte, Davao del Sur, Compostela Valley, Davao Oriental and Puerto Princesa, Palawan. “This congress really helps a lot. It is only during these three days of congress that the sarisari stores are introduced and linked directly to the suppliers of our malls,” Lim told the

BusinessMirror on October 19, the second day of the Kanegosyo Congress. “We would not know how far this relationship would go for the sari-sari stores, but I believe the direct selling and supplying would be going on after the congresses we have conducted over these years,” he added. The Kanegosyo Congress opened at The Tent of the Azuela Cove in Lanang here on Thursday with 40 booths by the NCCC regular suppliers. The NCCC said the booths opened at supplier price levels to the 250,000 rewards cardbearing customers. As with the previous congresses, the event featured lectures on financial management, store bookkeeping or other simple recording practices to track purchases and sales. Janna Mutalib, head of the branding and events of the NCCC Group, earlier told the BusinessMirror the NCCC would continue its visit to the regular client sari-sari stores for actual mentoring and technical management assistance. She said the Kanegosyo Congress would be upgraded later to a Negosyo Academy, a yearlong periodic business learning and mentoring session. Manuel T. Cayon

Editor: Dennis D. Estopace • Monday, October 22, 2018 B5

Execs assure workers in ARMM agencies of retention in new Bangsamoro govt By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—Government personnel working in at least three agencies of the Autonomous Region in Muslim Mindanao were assured of being retained in the new Bangsamoro government that would replace the ARMM, a team from the national government said in a forum in Cotabato City last week. The government team, which includes the Civil Service Commission (CSC) and the Government Service Insurance System (GSIS), identified the agencies as the Departments of Health, Education and Social Welfare. The Coordination Team for Transition used the word “sector,” however, rather than department, and would cover a wider number from those working in the towns and barangays. The forum on the transition process was intended to clarify

the concern and issues, mainly on retention of ARMM employees to the new Bangsamoro ARMM, or BARMM. The BARMM would be established soon as provided for under Republic Act 11045, the bangsamoro organic law. The ARMM Bureau of Public Information (BPI) said the forum discussed the employment status of ARMM personnel who would be affected once the transition period commences “and the incentives for personnel who would opt to retire,

or be separated from service.” The ARMM BPI dispatch said Commissioner Jose Lorena, a member of the transition team, explained that Article XVI Section 10 of the RA 11045 states that “officials holding appointive positions shall continue to perform their functions in accordance with the phase-out schedule.” “Employees in the sectors of health, education and social welfare shall be absorbed and transferred to the Bangsamoro Government,” Lorena said, citing the provision. He also mentioned the same provision that states “the affected personnel who will not be absorbed in the positions of the new staffing pattern of the different offices in the Bangsamoro Government, whether hired on permanent, temporary, casual, or contractual basis and with appointments attested by the Civil Service Commission, shall be entitled to the applicable retirement, or separation benefits as provided in the organic law.” He said the transition team was currently preparing a draft plan on the schedule of the gradual phasing out of the offices of the ARMM. She said the draft would be submitted to the appointed chief minister of the new government. The chief minister would re-

view the plan and submit it to the Bangsamoro Transition Authority within 60 days. The BTA would then approve the proposed plan within 10 days. “Assuming the ratification is done on January 21, 2019, perhaps, the schedule of phasing out would be April 2019,” Lorena said. The transition team was also attended by law yer Krunimar Escudero III of the CSC Central Office, GSIS Vice President for Visayas and Mindanao Vilma Fuentes, Pag-IBIG Vice President for Members Services Operations Rio Teves and Herman Jumilla, undersecretar y for Mindanao concerns of the Department of Budget and Management. The ARMM was established in 1989 under RA 6734, known as Organic Act for the Autonomous Region in Muslim Mindanao. The ARMM has a population of 3.78 million, according to the 2015 census of the Philippine Statistics Authority. Of this number, 3.45 million are Muslims. The region is composed of the Central Mindanao provinces of Maguindanao and Lanao del Sur, and the latter’s capital of Marawi City, and the Southwestern Mindanao island provinces of Basilan, Sulu and Tawi-Tawi and Basilan’s Lamitan City.

Tribal leader fears loss of jobs if mining stops in Surigao del Sur A

CLIMB ABOARD

This file photo shows a majestic view of Mount Arayat in Pampanga, which is being touted as a natural attraction for tourists. A Philippine News Agency report noted that the Philippine Airlines is strengthening its hub in Pampanga. NONIE REYES

TRIBAL leader in Carrascal town, Surigao del Sur, on Sunday appealed to the government to consider the potential adverse impact of mining measures on the lives and livelihood of the people. In a statement, Hawudon Datu Engwan Ala, 42, a municipal chieftain of an Indigenous People’s tribe in Carrascal, Surigao del Sur, said indigenous cultural communities such as his will suffer if mining operations will cease in the Caraga region. “We tribesmen are the very first to be affected because we rely on these companies for our jobs and source of living,” he said. The statement was issued by the tribal leader just as lawmakers take on a proposed mining revenue measure that will potentially deal a so-called death blow to the mining industry. Datu Engwan worked at CTP Construction and Mining Corp. from 2005 to 2013 before he became a Manobo-Mamanwa tribal chieftain. Through generations, members of the Manobo tribe intermarried with the Mamanwas who traditionally reside in Agusan del Norte, the Surigao region, Panaoan Island and Southern Leyte and are believed to be descendants of the original settlers of the Philippines.

DENR urges fire PHL’s first barge terminal set to open in November dancers to use LED lights in Boracay shows

ORACAY ISLAND—The Department of Environment and Natural Resources, through the Boracay Inter-Agency Task Force, urged hundreds of fire dancers in this resort island to just use LED lights or poi, instead of real burning fire. DENR Undersecretary Benny D. Antiporda announced this during a news conference here as the task force prohibits fire dancing in the resort island of Boracay. Boracay, considered as one of the best island in Asia by the Condé Nast Traveler, will be reopening to tourists by October 26. This, after the national government ordered its closure on April 26 to undergo environmental rehabilitation. “Fire dancers can use technologies such as LED lights but the task force definitely prohibits fire dancing. The national government can support the displaced fire dancers in Boracay if they needed,” Antiporda said. Jun N. Aguirre

LARK, Pampanga—Hailed as the first container barge port in the Philippines, the Department of Transportation (DOTr) is set to inaugurate the Cavite Gateway Terminal (CGT) in Tanza on November 5. A project under the Duterte administration’s “Build, Build, Build” program, the CGT will allow trans-shipment of cargo from international ports in Manila to Cavite via barges and roll-on, roll-off (Roro) operations. By moving cargo and people out of the roads and into the waterways, it would decongest traffic in major roads. The terminal will also be integrated with other major Luzon port facilities for a cost-effective and time-bound access to the Cavite market. Set to grace the inauguration are President Duterte, Executive Secretary Salvador C. Medialdea, DOTr Secretary Arthur P. Tugade, Special Assistant to the President Christopher Lawrence T. Go, Public Works Secretary Mark A. Villar, Finance Secretary Carlos G. Dominguez III, Budget Secretary Benjamin E. Diokno, Socioeconomic Secretary Ernesto M. Pernia, BCDA President Vince Dizon and officials from concerned local government units (LGUs). “We are an archipelago, so this is really a

no-brainer,” Tugade said. “Matagal na dapat ito. Madalas congested ang mga kalsada na papunta sa mga port at ito ang magiging solusyon dyan [This should have been done a long time ago. This would solve decongest roads going to ports].” “This project is also proof that when the government and the private sector work together, beautiful things can happen,” Tugade added. The CGT, which was privately funded by the International Container Terminal Services Inc. (ICTSI), has a capacity of 115,000 twenty-foot equivalent units (TEUs). Projections indicate that the terminal will result in approximately 140,000 fewer truck trips annually. It is also expected to reduce road traffic by almost 2 kilometers of trucks once fully operational. The terminal is also only 11 kilometers away from the Cavite Export Processing Zone Authority, whose users could be ideal clients of the facility. Passenger ferry services from Cavite to Manila and vice versa will also be made available in the future following discussions between the government and the operator. The construction for the CGT started in October 2017 and was completed in about a year. Earlier this September, barge operations have already started as part of the dry run prior to full operations.

However peaceful, some Mamanwa communities were often disturbed by illegal dynamite fishers, suffered discrimination and had no access to proper education—that is, until local mining embarked on a common development road map that would elevate the living standards of the tribes. At present, there are more than 3,000 local workers employed by mining companies and 800 families from the IP communities in the mining operations in Carrascal. A majority of Datu Engwan Engwan’s community members are employed by Carrascal Nickel Corp., CTP Construction and Mining Corp. and Marcventures Development Corp. Regular training such as heavy equipment operation, driving and various livelihood skills are also provided for the continuous development of the community. Apart from the job opportunities, the IP communities also receive a royalty share of the gross value of the products of the mining operators as stipulated by the Indigenous People’s Rights Act of 1997 for the protection of their ancestral lands. These royalties also enable the indigenous cultural communities to exercise their inherent right to self-determination, gain access to edu-

cation and livelihood, as well as preserve their cultural heritage. Moreover, each company allocates 1.5 percent of the mines’ direct operating costs as funds for a social development management program for non-tribal communities. These are used for the health, education, livelihood, public infrastructure and sociocultural development of these communities. Datu Engwan also cites education as an essential contribution, where the ability to send the new generation of their tribe to school is life-changing and, indeed, priceless. “Most of us were not really able to go to school. But our children, they are now able to go to college—there are a few now taking nursing, accounting, and we even have one going to law school in Manila,” he said. “We plead for the government to assess the situation carefully. We will be forced to revert to our old ways just as when we’ve already improved the quality of our lives, we were able to build our houses already. What will now happen to the education of our children, to the projects we’ve started to do?” he said. “Our lives are already doing well.” Jonathan L. Mayuga

B6 Monday, October 22, 2018

HONDA RACER ENDS DREAM CUP WITH FLYING COLORS

T’S the season finale of the 2018 Pe t r o n N at i o n a l M o t o r c y c l e Championship, and the sixth round of the Honda Pilipinas Dream Cup (HPDC) has come to an end. What better way to honor the occasion than to show off the HPDC riders their skills and talent at the track. The qualifying round started early for the riders as they took off from the pit gate at 8:55 a.m., with P1 Rider No. 6 Sean Barcial making the best time at 2:25.729, while Rider No. 1 Kervie Bergania made 2:25,995, which landed him on P2. Rider No. 7 Jakob Sablaya, who lead the pack in the overall points, had a time of 2:28.052, which took him to the P3, putting him

close to Rider No. 8 Andrei Reyes and Rider No. 2 Wyner Blente, who landed on P4 and P5, respectively. Meanwhile, Rider No. 12 Jasper Cruz and Rider No. 4 Sean Ondillo got P6 and P7, respectively. As the red light went off, the seven riders sped off for a five-lap battle. Barcial took the opportunity to lead first, but Sablaya did not make it easy for Barcial, making his way in the first corner. From the second up to the final lap, Sablaya, Barcial, Bergania, Reyes and Blente sliced and diced across the 4.2-kilometer track, while Cruz and Ondillo were left behind with a total of 24.524-second gap. Sablaya took the hearts of the crowd

as he rode his CBR150R in the straights and corners like they were as one, taking the lead of the pack from Barcial and Bergania for the second and fourth lap. However, Barcial managed to take the lead from Sablaya on the so-called Acacia at the west course. Barcial charged on the chicane while Sablaya was still trying to take the lead on the last stretch. At the last corner Barcial managed to stay on the lead, taking Race 1 for first place with a total time of 12:10.286, with a fastest time of 2:25.708. On the other hand, Sablaya got second place with a total time of 12:10.719 and with a fastest time of 2:26.553. Bergania took the third place with a total time of 12:10.807 and with a fastest time of 2:26.506. “Masaya ako sa naging resulta ng Round 6 dahil, noong Race 1, magkakadikit kami nila Kervie Sean, Wyner and Andrei. Hindi ko nakuha ang lead position sa Race 1, pero hindi ko pinakawalan ang Race 2. Kahit nasa third place ako, kinuha ko ’yung mga opportunity na nakita ko kung saan ako makalulusot. Masaya ako sa resulta at performance ko sa buong season kasi nakuha ko ang championship ng 2018 Honda Pilipinas Dream Cup,” Sablaya said. Honda Philippines Inc. is proud to see the improvements of all participants skills and time at the track by an average of five seconds from the previous time they have joined the program.

MERALCO ENSURES SAFE, ADEQUATE, RELIABLE ELECTRIC SERVICE Seen in the photo is the Meralco Networks crew relocating electric-distribution facilities along Dagupan Street, Tondo, Manila, one of the city’s thoroughfares that benefited from the Department of Public Works and Highway’s (DPWH) infrastructure projects. This is part of Meralco’s continuing thrust to support various government infrastructure projects, as well as enhance its own electric-distribution system, guaranteeing safe, adequate and reliable electric service to its customers. For updates on maintenance schedules, Like Meralco on Facebook and follow them on Twitter, or call the Meralco 24/7 hotline at 16211.

MANAGING FINANCIAL PERFORMANCE

N today’s complex and competitive business environment, analyzing financial statements are not enough. Often business managers and executives need to determine the key financial-performance metrics to make important decisions for their businesses. While financial analysis makes sense, the data may still be insufficient for the management and the board of directors to afford the value-adding attributes that are required to strategically position a business and to take advantage of the opportunities for growth. With this, the Center for Global Best Practices (CGBP) will host a pioneering program, titled “Going Beyond Financial Analysis: Best Practices in Managing Financial Performance” to be held on October 25 and 26 at Marriott Hotel. Visit www.cgbp. org for details and a complete list of Best Practices programs. This two-day program will go beyond the technical and routine financial, analytical ratios that can be easily derived at using the date in the financial statements. Learn how to think more strategically and focus on the significant aspects of managing the financial performance of a business. This program will also teach you the new tools and techniques on using financial data to set the business strategic goals, plan for the relevant business activities, and come up with the shortand long-term financial decisions to optimize the growth of your organization! This program will feature course director and lecturer Rufo R. Mendoza, PhD, CPA, who taught this course at the Asian Institute of Management (AIM) and is now with CGBP. He is also

the former chairman of Finance and Accounting Department and program director of the Master in Development Management in Public Finance at AIM. He was the vice chairman of the Professional Regulatory Board of Accountancy and chairman of Continuing Professional Development Council for Accountancy. His consulting experiences include engagements with The World Bank, Australian Agency for International Development, United States Agency for International Development, United Nations Development Program and the European Commission. He has written four books, and 21 research and technical papers. He was a national awardee as Outstanding CPA in Professional Development (2008) and in Government Service (2010) of the Philippine Institute of Certified Public Accountants. He has also received the Distinguished Alumnus Award from the University of the Philippine Los Baños. This program is open to the general public. It is also highly recommended for business owners, directors and chairmen of the board, president, high-level executives and treasurers, senior management, accountants, among those interested to grow their organization. Public officials and government employees attending training programs like this are exempted from the P2,000 limit set by the Commission on Audit, based on the Department of Budget and Management Circular 563 dated April 22, 2016. Interested participants are encouraged to avail themselves of the early-bird and group discounts for three or more registrants. Seats are limited and preregistration is required.

AVON SHEDS‘PINK LIGHT’ TO EVERY WOMAN OUT THERE

HE International Agency for Research on Cancer, part of the World Health Organization, recently reported that there are over 626,000 deaths from breast cancer worldwide each year—about one woman per minute. As the company for women, Avon is passionate about using its global reach to further the well-being of women around the world. Avon’s Breast Cancer Promise is committed to helping 100 million women globally know the risks and signs, and how to take action when it comes to breast cancer through educational initiatives, such as its global Pink Light Project. In the Philippines Avon is shedding light on women through the Pink Minute campaign, which drives the importance of making breast self-exam a habit. This month the company is partnering with local iconic landmarks and well-known establishments to deliver a strong reminder on the importance of breast self-exam by turning on the pink light.

“Ensuring that no woman is left in the dark when it comes to breast cancer begins with reminding women to make breast self-exam a natural part of their daily routine,” Avon Philippines General Manager Razvan Diratian says. “It is a simple habit that can help save one’s life because, until now, the closest thing to a cure for breast cancer is awareness and early detection.” Avon invites more people to help their crusade with the Live, Love, Laugh necklace, a symbolic token aiming to spread awareness and raise funds for women fighting breast cancer. Each purchase of this limited-edition necklace contributes to the maintenance of the Avon-PGH Breast Cancer Center, which offers free breast-health guidance, consultation and checkups to approximately 150 women a day. Interested customers may avail themselves of the limited-edition item through an Avon representative or shop online at avon.com.ph for only P299.

‘SPOOKTACULAR’ HALLOWEEN CARNIVAL AT WIDUS CLARK

XPERIENCE mystery, magic and merriment as Clark’s preferred one-stop leisure destination opens the much-anticipated Widus Spooky Carnival on October 31. Come into your most creative costume and bring the whole family to the Widus Terra Hall, where a “spooktacular” and whimsical carnival-themed Halloween

awaits all kids and kids-at-heart. Turn chills into thrills with an all treat-no-trick afternoon party filled with fun games, scrumptious munchies and exciting amusements for only P650/net per person. Ticket is inclusive of snacks, loot bag and access to photo booth and acrobat show with stilt walker performers. Make the event more memorable when you take the whole family for a delightful staycation. Book any suite room via www.widus.com and enjoy special rates starting at P6,800. Special online package is inclusive of set dinner for two at Peppers 21, complimentary buffet breakfast for two, free use of gym amenities and swimming pool plus unlimited Wi-fi access. Widus Hotel and Casino is at Manuel A Roxas Highway, Clark Freeport Zone, Pampanga. For inquiries and reservations, visit www.widus.com.

THE Dodgers waited for lights-out lefty Josh Hader to leave the game to get their bats going again. Brewers manager Craig Counsell brought in Hader in the third after starter Jhoulys Chacin allowed a two-run homer to Bellinger in the second for a 2-1 lead for the Dodgers. Hader tossed three shutout innings,

AFTER HADER

last year to the Houston Astros. Now they’ve made baseball’s final series of the year in back-to-back seasons for the first time since 1977-1978. “I know how lucky I am to be a part of it two years in a row,” Bellinger said. The Brewers had their chances against rookie starter Walker Buehler, a 24-year-old right-hander who navigated through trouble over 4 2/3 innings. He allowed six hits, including a home run in the first by Yelich that made it 1-0. Yelich looked like he would hurt the Dodgers again in the fifth with Lorenzo Cain on second with two outs. The NL MVP candidate hit a high, hard liner to left that seemed destined to fall in for a double. Running at full speed to his left, Taylor extended his glove high in the air just as the ball settled into the mitt to end the inning. “They made the plays, they made the pitches when they had to [make] to win,” Yelich said.

THE excitable Puig raised both arms as he rounded second, wiggling his fingers skyward to mimic the Brewers’

POWER PACKED

striking out four before being pulled after 31 pitches. Milwaukee’s vaunted bullpen then scuffled in the sixth. Puig’s three-run shot off reliever Jeremy Jeffress quieted the breathless, screaming Brewers fans at Miller Park. Puig had been hitless in his previous five at-bats against Jeffress, striking out each time.

ANDY KOUFAX, Jackie Robinson and the Boys of Summer. Ted Williams to Yaz and the Impossible Dream. Manny Ramirez. Pedro Martinez. Bill Buckner. Fenway Franks and Dodger Dogs. Ebbets Field, the Green Monster. “Sweet Caroline” or “I Love LA.” Yet for all their rich history—dating back to Babe Ruth on the mound—the Boston Red Sox and Los Angeles Dodgers have rarely crossed paths heading into this World Series. Only once before in October, and that was more than a century ago. In fact, Clayton Kershaw has never even pitched at Fenway Park. Consider this: Going into Game One on Tuesday night, the Dodgers have beaten the Red Sox in Boston just one time. That came on June 12, 2004. And guess who scored and drove in a run for the Dodgers during that 14-5 romp? Alex Cora, now the rookie manager of the Red Sox. One of his teammates that afternoon—Dave Roberts, ready to lead Los Angeles into its second straight Fall Classic. “It’s great for baseball,” Roberts said. “Two storied franchises going head-to-head. It’s going to be a great series.” Roberts is sure to draw a big cheer when the teams line up for pregame introductions. He’s still a fan favorite in Boston for his daring stolen base that sparked an unprecedented comeback from a 3-0 deficit against Mariano Rivera and the rival Yankees in the 2004 American League Championship Series (ALCS). The Red Sox went on to end their 86-year title drought

by sweeping St. Louis in the World Series, boosted by Big Papi, Pedro and Manny. Starting next week, Boston will try for its fourth championship in 15 seasons. “I’m looking forward to going back to Fenway. Obviously for me, personally, I have a lot of fond memories of the Red Sox and Fenway Park,” Roberts said. “To be wearing another uniform going in there playing for a World Series championship is going to be special for me.” MVP candidate Mookie Betts, slugger J.D. Martinez and the Red Sox posted a team-record 108 wins, a big payoff for the team with the top payroll in the game. Boston pushed past New York in the AL Division Series and then quickly dispatched the defending champion Astros in the ALCS. Boston opened as a slight betting favorite over Los Angeles. “That’s the best team in the game right now. We respect that,” Dodgers closer Kenley Jansen said. “But know that we’re good.” Chris Sale is set to pitch the opener for the Red Sox. He recently spent a night in the hospital because of a stomach illness, and no doubt watchful eyes will be on the lefty ace. Los Angeles is aiming for its first championship since Kirk Gibson, Orel Hershiser and Tommy Lasorda brought home the crown in 1988. A year after dropping Game Seven to Houston at Dodger Stadium, Justin Turner and the crew with the third-highest payroll beat Colorado in a tiebreaker for the NL West title, chased Atlanta in the NLDS and topped Milwaukee, 5-1, on Saturday night in Game Seven for the pennant.

“It doesn’t matter how you get there. But to get to come back and go back from last year, it’s unbelievable,” Kershaw said. “Where we came from this year, it’s a testament to these guys, man. It’s a great group. We’re excited.” “We don’t want to lose again, so we’re going to be ready to go,” he added. New to the power-packed Dodgers this season is star shortstop Manny Machado, acquired in a July trade with Baltimore. Boston fans are plenty familiar with him—his late slide last year injured longtime Red Sox second baseman Dustin Pedroia, and led to a tense situation at Fenway with Sale throwing behind Machado. Soon as they see him, Red Sox rooters might even take up the familiar chant of “Beat LA!” It’s been heard for years in Boston, albeit in a different arena. That’s what Celtics fans echoed during the Larry Bird-Magic Johnson rivalry. Fitting, maybe, the former Lakers star is a part-owner of the Dodgers. On the basketball court, Los Angeles and Boston are certainly intertwined with championships on the line, going all the way back to the days of Bill Russell, Elgin Baylor, Bob Cousy and Jerry West. On the diamond, not so much for these storied franchises. They first tangled for real in the 1916 World Series. The Babe pitched all 14 innings—in a tidy two hours and 32 minutes—as Boston beat Brooklyn 2-1 in Game Two. Though Fenway opened four years earlier, the game was played at Braves Field, home of the city’s NL franchise, because it held more people. The Red Sox wound up winning in five games. Back

RICH HISTORIES, BUT LITTLE CROSSOVER S

CLAYTON KERSHAW’S teammates mob the lefty near the mound after the final out, and the celebration is just beginning for the Dodgers. AP

ILWAUKEE—Yasiel Puig and Cody Bellinger flexed their muscles. Chris Taylor flashed some leather. Then the Los Angeles Dodgers got a lift from ace Clayton Kershaw out of the bullpen to finish off the Milwaukee Brewers and return to the World Series. Puig broke open a tight contest with a three-run homer in the sixth inning, Taylor robbed Christian Yelich with a super catch and the Dodgers took Game Seven of the National League Championship Series (NLCS) with a 5-1 win on Saturday night. It’s off to Fenway Park for a showdown against the Boston Red Sox in Game One of the World Series on Tuesday. “It’s pretty cool. It’s going to be a pretty special series,” said Bellinger, chosen as the NLCS Most Valuable Player (MVP). Los Angeles hasn’t won the World Series since 1988. The Dodgers and Red Sox have met once before in the World Series, back in 1916 with Boston beating Brooklyn behind a big game from pitcher Babe Ruth. Kenley Jansen tossed 1 1/3 scoreless innings before yielding to Kershaw in the ninth. The threetime Cy Young Award winner, pitching on two days of rest after starting Game Five, finished off the Brewers by striking out Mike Moustakas in a perfect ninth. Kershaw’s teammates mobbed the lefty near the mound after the final out, and the celebration was just beginning for the Dodgers. “I’m just so proud of our guys for enduring this rollercoaster of a season,” manager Dave Roberts said. What a surge for a team that was 10 games under .500 on May 16. The Dodgers have talked about having unfinished business after losing Game Seven of the World Series

The Associated Press

By Genaro C. Armas

then, the Dodgers weren’t really the Dodgers. They were known by a collection of nicknames, and were often called the Robins because of popular manager Wilbert “Uncle Robbie” Robinson. And Ruth later coached for them. Over the years, the teams went their own ways, on and off the field. The Dodgers proudly broke baseball’s color barrier when Jackie Robinson played in 1947. The Red Sox were the last team in the majors to have a black player, in 1959 with Pumpsie Green. Decades later, the teams made history together. They drew an announced crowd of 115,300—the largest ever for a baseball game—for an exhibition at the Coliseum in 2008 to mark the 50th anniversary of the Dodgers’ move to Los Angeles. Overall, the Red Sox are 8-7 against the Dodgers since interleague play began in 1997. Boston hasn’t hosted LA since 2010, and the teams haven’t squared off since 2016. Not much crossover for these clubs, either. Buckner was a young, fleet outfielder when he helped the Dodgers reach the 1974 World Series. He was a gimpy first baseman when he let that ball roll through his legs as Boston blew the 1986 Series. Pedro Martinez began his big league career as a reliever with Los Angeles before becoming a dominant starter for Boston. Manny Ramirez was an eccentric slugger for the Red Sox who took his act to Mannywood out West. Nomar Garciaparra, Adrian Beltre and Rickey Henderson are among the stars who spent time with both teams. So has Dodgers starter Rich Hill—in 2015, the Boston-area native was pitching with the independent Long Island Ducks when he resurrected his career with the Red Sox. AP

THE loss ended a remarkable year for the Brewers. A late surge led by Yelich lifted Milwaukee from 5 1/2 games out of the NL Central lead on August 28 to one win short of the franchise’s second World Series appearance. “They took us on an amazing journey,” Counsell said about his team. “It was a magical run.” An American League team in 1982, the Brewers lost the Series in seven games that year to the St. Louis Cardinals. Game Seven against the Dodgers was the first at home for the franchise, coming 36 years to the day after losing the seventh game to the Cardinals in the Series. Same result on Saturday. With Yelich and first baseman Jesus Aguilar emerging as offensive cornerstones, along with a deep well of young pitching in the majors, the Brewers figure to contend again in 2019. They’ll have to dethrone the Dodgers. “We were right there,” Jeffress said. “I think the biggest thing we take from this is we have all the pieces next year, we just have to put it together better than we did today.”

LOOKING FORWARD

CHRIS TAYLOR said that it was so loud in the outfield that trying to communicate with Bellinger in center while tracking Yelich’s liner in the gap in the fifth was difficult. It was about reacting at that point, Taylor said. “A lefty hits it in the gap, it kind of tails. You really don’t know how much that ball is going to tail. So really, it’s just a reaction play,” he said.

WHAT A CATCH

trademark celebration move. Manny Machado, the object of nonstop boos from Milwaukee fans, obliged with the same gesture as he watched from the dugout steps. Bellinger raised his right arm and pointed to his biceps as he rounded third after his homer. The mighty Dodgers, who hit an NL-best 235 homers, outslugged the Brewers, who were second in the league with 218.

onday, October 22, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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DODGERS VS.RED SOX!

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C2 Monday, October 22, 2018

BULLDOGS BITE TIGERS R By Ramon Rafael Bonilla

OOKIE James Canlas balled out, took the brightest star from the sky and helped key San Beda University’s victory against Lyceum of the Philippines University to become the Collegiate Sports Press Corps National Collegiate Athletic Association Player of the Week. Canlas was the Red Lions’ crimson comet as he led the defending champions to a 75-68 win over their modern-day rival Pirates in the two teams’ second meeting in NCAA Season 94 seniors’ basketball tournament. Never mind the fact that the game featured big names like CJ Perez, Robert Bolick, Javee Mocon, Mike Nzeusseu, and twins Jaycee and Jayvee Marcelino because it was the youngster who went out of his way and dominated. Canlas finished with a career-high 18 points, a game-high, while also grabbing six rebounds. And half of Canlas’s points were in the second quarter alone. Canlas said he’s aware of a rookie’s role in the team and that was to provide support to the established leaders. But he knew he had work

AVE ILDEFONSO sizzled at crunch time as National University (NU) cut University of Santo Tomas (UST) to size, 69-61, in Season 81 University Athletic Association of the Philippine men’s basketball action on Sunday at the Filoil Flying V Centre in San Juan City. With the Growling Tigers threatening to pull a surprise late in the game, the Bulldogs went to Ildefonso, who scattered seven of his team-high 16 points in the pivotal fourth quarter to keep themselves in the Final Four race with an improved 3-6 won-lost record. Ildefonso has been playing superb in his rookie year and added four rebounds and three assists in the victory against the Tigers. Forward Troy Rike added 13 points, six boards and four assists in 30 minutes of action for NU. NU Head Coach Jamike Jarin deflected the credit as his team swept the young but talent-laden UST squad in the two-round eliminations. The Bulldogs scored a 75-70 win over the Españabased squad on September 8. “It’s not me, it’s just the 16 players responding right now and I have the two [Ildefonso and Rike] here who have shined the brightest,” Jarin said. “They should get all the support and acknowledges.” After the first half that saw NU handing on to a 33-32 edge, the Bulldogs uncorked a 20-point outburst capped by Dave Yu’s trey that made it 53-42 before the payoff period. UST made it to a one-point game midway the final quarter as Renzo Subido torched the net with three triples that highlighted the team’s blazing 14-4 rally. But there was Ildefonso, who delivered seven clutch point in an 8-2 assault that put the Bulldogs in a safe distance with less than three minutes left. Jarin said that his Bulldogs must sharpen up before they meet the league-leader Ateneo Blue Eagles next Saturday at the Smart Araneta Coliseum. “Hopefully we get the same result because this performance is not enough against Ateneo,” Jarin noted. John Lloyd Clemente and Issa Gaye were the other doubledigit scorers from NU with 12 and 10 points, respectively. Subido led UST with 18 points built on five three-pointers, while Marvin Lee and Zachary Huang added 12 and 11 points, respectively. With their three-game win streak halted, the Growling Tigers

Canlas gets task done, wrests weekly honors harder than everyone else, too. “At first I was a little bit nervous but once I got to the game I just played good thinking that the game will come to you,” Canlas said. “As a rookie, you have to prove something to everybody and not just be the guy who shows up and does nothing.” Canlas’s play drew raves from San Beda Head Coach Boyet Fernandez and superstar point guard Bolick. “James will be the future of San Beda and Robert is his teacher,” said Fernandez in his tired voice. “I always challenge James because he has a lot of potential,” said Bolick, who also had 18 points against the Pirates. “He has good potentials and I always challenge him because he will still be better when time comes and I know I will leave my school knowing it’s in good hands.” The Filipino-Canadian rookie edged Bolick, Mapua’s graduating guard Cedric Pelayo and College of Saint Benilde’s versatile forward Yankie Haruna for the weekly award handed out by print and online scribes covering the beat.

LEBRON LOSES L.A. DEBUT IN FIGHT-MARRED GAME UNIVERSITY of Santo Tomas’s Caunan Enrique Jr. and National University’s Issa Seny Gaye couldn’t hold of the loose ball as the Bulldogs’ Antonio Joson could only look animated. NONOY LACZA

dropped to their fifth setback in nine games. Juan Gomez de Liaño stuffed together 15 points, 12 rebounds and 12 assists as University of the Philippine (UP) beat University of the East (UE), 94-81, in Sunday’s other game. De Liaño’s first triple-double was the league’s first in 12 seasons since fellow Fighting Maroon Marvin Cruz’s 22-11-10 in 2006. With only Bright Akhuetie and Paul Desiderio connecting in the first half, the Fighting Maroons found themselves trailing, 41-44, at the break. But de Liaño scattered 11 points in the second half and conspired with the Nigerian big man for a major

turnaround in the final 20 minutes. “More than the win, it was the effort in the second half that made us believe that we can compete this season,” UP Head Coach Bo Perasol said. “That second half just proved that if we can get our act together, we can spring up some victories.” Akhuetie finished with 28 points, 13 rebounds and two blocks, while Desiderio registered 16 points and eight boards for the Fighting Maroons, who improved to 4-5. As expected, star forward Alvin Pasaol dazzled for 30 points and nine rebounds for UE, which is now in a 1-8 hole.

OS ANGELES—Once the fists started flying late in the fourth quarter, LeBron James’s home debut with the Los Angeles Lakers was relegated to the undercard. A wild multiplayer fight that included the normally mild-mannered Chris Paul and Brandon Ingram stole part of the spotlight shining on LeBron’s official landing on the West Coast. The Houston Rockets stole the rest with a gritty victory. James scored 24 points, but Paul, Ingram and Rajon Rondo all were ejected after trading blows late in the Rockets’ 124-115 win on Saturday night. Before the late drama overshadowed everything, James got several big ovations from a

THE Lakers’ LeBron James holds back the Rockets’ Chris Paul after Paul fought with Lakers’ Rajon Rondo, (far right) during the second half of their game on Saturday. AP

Hamilton drives Mercedes to 81st career pole spot at US Grand Prix

USTIN, Texas—Lewis Hamilton warned Ferrari and championship rival Sebastian Vettel would be ready to “punch back” at the US Grand Prix after recent poor results. He was right. It’s just that Vettel may be too far back to land anything strong enough to deny Hamilton a fifth Formula One championship. Hamilton drove his Mercedes to his 81st career pole position with a blistering trackrecord lap of one minute, 32.237 seconds at the Circuit of the Americas on Saturday. Vettel was just .061 seconds behind. But instead of starting Sunday’s race from second with a real chance to make it a fight, Vettel will start from fifth because of a three-spot grid penalty issued on Friday when race officials said the German drove too fast while under a red flag in a practice session. That gap could be just big enough to guarantee Hamilton wins the season championship. Hamilton leads Vettel by 67 points and any result on Sunday that puts him eight or more points ahead of Vettel clinches the title. If Hamilton wins, Vettel must finish no longer than second to keep the championship alive next week into the Mexican Grand Prix. A fifth title would tie the British driver with Argentina’s Juan Manuel Fangio, who won five championships in the 1950s. Germany’s Michael Schumacher holds the Formula One record with seven. A win on Sunday would also be Hamilton’s 10th of the season. He’s won on this track five of the last six years.

Hamilton refused to get into predictions about Sunday’s outcome. “We’ve not been getting ahead of ourselves,” Hamilton said. “We have to do the same work as before.” Vettel criticized the penalty when it was assessed on Friday, but he refused to rehash his frustration after qualifying. “I can’t change that now. It is was it is,”Vettel said. Vettel is also a four-time champion and he began the season with consecutive wins in Australia and Bahrain. The title chase swung to Hamilton when he won six of the last seven races. Vettel has one victory and missed the podium three times in that span. Vettel won here in 2013 and is the only driver to beat Hamilton at the Circuit of the Americas since it opened in 2012. He at least knows his car has the muscle to compete with Mercedes again. “It was a bit of a surprise to see how competitive we are today given how far we’ve been the last few events,” Vettel said. Starting between Hamilton and Vettel will be Ferrari’s Kimi Raikkonen, Mercedes’s Vallteri Bottas and Red Bull’s Daniel Ricciardo. Getting around that group and still keeping Hamilton close will be difficult. Mercedes Team Principal Toto Wolff said this week he could use team orders to help protect Hamilton to win the title. Red Bull’s Max Verstappen, who finished on the podium in three of the previous five races, will start 13th after he damaged his car in the first round of qualifying. AP

tremendously lively sellout crowd in his first home game since joining the Lakers as a free agent. “The atmosphere was great,” James said. “The fans were extremely excited. We gave them everything that we could. Wish we could have gave them more with this win, but it was very electric.” But perhaps that energy—and a flagrant foul by Houston’s James Ennis III against Josh Hart earlier in the fourth quarter—contributed to the shocking fight that broke out with 4:13 to play. The Rockets were clinging to a 109-108 lead when Ingram was called for a foul while trying to defend an aggressive drive by James Harden, who finished with 36 points. Furious with the call, Ingram shoved Harden and then confronted referee Jason Phillips after getting a technical foul. In the ensuing group argument, Paul stuck a finger into the face of Rondo, who responded by punching his fellow point guard. Ingram then threw punches in the melee. James attempted to break up the fight by grabbing Paul, his friend. Paul claimed Rondo caused their fight by spitting on him. “Unacceptable,” Houston’s Carmelo Anthony said. “We all know what happened. Ain’t no need to keep going back and forth about that. What happened was unacceptable. It shouldn’t have happened.” Rondo’s teammates said they didn’t know whether Paul’s claim was accurate. Lakers Coach Luke Walton said his players were playing with extra aggravation after Ennis clotheslined Hart on a flagrant foul 4 1/2 minutes earlier. “I felt like the other team was trying to provoke us, and we fell for it,” said the Lakers’ Lance Stephenson, another peacemaker in the brawl. When tempers cooled after a nearly 10-minute break, Houston finished the game on a 15-8 run. Harden hit a key three-pointer with 1:12 left to propel the Rockets to their first win of the season. “We played amazing tonight, and I feel like the fight probably put us back,” said JaVale McGee, who had 16 points and six rebounds in his own Lakers home debut. “If there wasn’t the fight, we probably would have won that game.” Paul had 28 points, 10 assists and seven rebounds before getting tossed. Clint Capela had 19 points and 12 rebounds, and Anthony scored seven points off the bench as Houston rebounded from an embarrassing season-opening loss to New Orleans. Rondo had 13 points and 10 assists before getting thrown out. LeBron also had five rebounds and five assists, but he went 1 for 8 in the fourth quarter, missing all three of his three-point attempts. “Yeah, James was James. That’s what he does,” Houston Coach Mike D’Antoni said. “I thought it was a great game. It had some intensity and quickness, and how fast it was.” AP

NBA RESULTS Indiana 132, Brooklyn 112 Toronto 117, Washington 113 Boston 103, New York 101 Philadelphia 116, Orlando 115 Charlotte 113, Miami 112 Detroit 118, Chicago 116 Dallas 140, Minnesota 136 Denver 119, Phoenix 91 Portland 121, San Antonio 108 Houston 124, LA Lakers 115

orts

sMirror

Monday, October 22, 2018

RUN FOR WOMEN EMPOWERMENT

More than 600 participants answer the gun for the recent Asian Terminals Inc. (ATI) “ATI SHE RUN 2018: Takbo para sa Kababaihan” staged in celebration of the Global Diversity Awareness Month this October. Runners from ATI, Philippine Ports Authority, Bureau of Customs, major importers and exporters, shipping lines and customs brokers joined the 5-km and 10-km runs along Roxas. “SHE” means safety, health and environment— corporate principles that ATI lives by as a leading port organization. The total distance completed by the runners were matched by ATI with P50 per kilometer for donation to charity institutions championing women empowerment.

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Agent Snake & snow cones

Black Arrow 5150 unwraps in Subic

OP pros gearing up for bigger battles and triathletes who love to do short-distance but challenging races in a world-class course setup mix it up for the inaugural Black Arrow Express 5150 which fires off on November 4 in Subic Bay. The stellar international cast brace for another grueling test of endurance as they clash for honors and personal bests over the Olympic distance of 1.5-km swim/40-km bike/10-km run race in what has long been considered as the country’s triathlon capital. “Subic has tremendous infrastructure and has been incredibly cooperative in working with us and helping ensure the successful staging of each triathlon event,” said Wilfred Uytengsu, founder and president of the organizing Sunrise Events Inc. Held in partnership with one of the top cargo movers in the country, Black Arrow Express 5150 is billed as the answer to triathletes seeking to step up for tougher races or get the hang of the tri-sport, depending on their skill levels. “The same commitment to finish to the ‘last-mile’ is often the most grueling part of the race. Same goes for Black Arrow which delivers to their customers’ doors by foot through rain and flood,” Black Arrow Express President Allan Brizuela said. The event, backed by venue hosts Subic Bay and ACEA Subic Bay and major sponsors David’s Salon, Pioneer Insurance and Wicked Active Gear, also caps SEI’s decadelong staging of the premier endurance race. Close to a thousand participants have so far registered for the event, including bets from 21 countries, with competitions up in the pro division, Asian Elite and various age categories. Also on tap are relay events for male, female and mixed. The second Sunrise Sprint short distance race series or S2 will also be staged, a 750-m open water swim, 20K bike ride, 5K run race which is fit for beginners wanting to immerse themselves into triathlon, for enthusiasts who wants to race without having to worry about long periods of training, or for the tri-warrior who has been off the circuit and is raring to make a comeback.

Nationals sparkle in Imus duathlon

CLYDE MARKED ANEW IN LUISITA C

LYDE MONDILLA sets out for backto-back title feats at Luisita Golf and Country Club (LGCC), brimming with confidence after snapping a long slump with a gripping victory in the International Container Terminal Services Inc. (ICTSI) Luisita Invitational in Tarlac last Friday. But the Del Monte ace expects a tougher challenge from a souped-up international field in the Philippine Golf Tour (PGT) Asia’s CAT (Central Azucarera de Tarlac) Open with a slew of foreign aces joining the title hunt in the $100,000 event, which reels off on Tuesday. Sam Gillis, fresh from a breakthrough victory in the other regional tour, and fellow American John Michael O’Toole along with Thai aces Tawit Polthai, Nattapong Putta, Idtiphat Silasuwan and Nirun Sae-ueng will be among the new faces mixing it up with the stellar cast that slugged it out in PGT season’ finale. The organizing Pilipinas Golf Tournaments Inc. and host LGCC, meanwhile, said they will be making adjustments on the course set up to guarantee four days of fierce action and another thriller of a finish. “We’ll have a much longer, tougher set up,” LGCC’s Jeric Hechanova said. Still, Mondilla remains confident of making

ATIONAL triathletes Mark Hosana and Claire Adorna dominated the men’s and women’s races of the Second Sun Life Aquathlon at the Vermosa Sports Hub recently in Imus, Cavite. The two elite triathletes, competing in the 25 to 29 age group, finished the standard distance 500-meter swim and 5-km run race in under 30 minutes with the fleet-footed Hosana clocking 26:26 seconds and Southeast Asian Games gold medalist Adorna breasting the tape in 29 minutes flat. A field of more than 400 answered the gun with two 15-year-old participants with autism—Angie Powell and Peggy Geiser—finishing first and third, respectively, in their category. Sun Life GoWell ambassador Bubbles Paraiso topped 20 other women in her 30-34 age group, while 2017 Ironman Kona finisher Celma Hitalia ruled the above 50 division. Chicho Mantaring ruled the 60-above category that lured 30 other bets younger than him. The event capped a yearlong aquathlon series which included the Vermosa Aquathlon, Animo Aquathlon, Island Cove Aquathlon and Aquaman. Sun Life has two more races on tap—Sun Life Cycle PH on November 17 at the Bonifacio Global City led by Sun Life ambassador and cycling enthusiast, actor Piolo Pascual, and the Sun Life Resolution Run and Sun versus Stars with ABS-CBN’s Star Magic on January 26, 2019, at Camp Aguinaldo. “Sun Life is happy to nurture the Filipinos’ interest to become fitter and healthier through sports,” Sun Life Chief Marketing Officer Mylene Lopa said.

it two-in-row on the hazard-laden layout and score another victory after struggling majority of the season coming off an injury and poor form. “I feel good, confident and I think I have a chance to come out on top again,” said Mondilla, who won four tournaments on his way to copping the PGT Order of Merit crown last year but went on a winless spell until nipping Peter Stojanovski of Macedonia for the crown last weekend. “They’ll toughen up the course but I think the locals will still have the edge over our foreign rivals,” added Mondilla. Meanwhile, unheralded Erwin Arcillas steps up his bid for another title crack at Luisita, towing his team composed of Manny Alarilla, Sunny Donato and Jess Legaspi to victory with a 17-under 55 in the pro-am tournament last Saturday. Mondilla, with Martin Lorenzo, Bones Floro and Aian Arcilla, placed second with a 57, while Elmer Salvador, with Daisuke Hagiwara, Seo Eun Young and Tim Allen, shot a 58 for third. Arcillas came up short of his first title win when he lost in a playoff to Aussie David Gleeson in the ICTSI Luisita Championship, which kicked off this year’s PGT Asia in April.

YOUNG SPIKERS FIGHT FOR PRIDE IN COLLEGIATE TILT

HE Philippine Superliga (PSL) Collegiate Grand Slam (CGS) will not just be a battle for pride and glory among the country’s best and brightest young stars. It will also serve as a battleground where their talent will be exposed and will groom them for the next phase of their athletic careers. University of the Philippines (UP) Head Coach Godfrey Okumu said he will field his rookies and other young players when the inaugural edition of the intercollegiate tournament unwraps on November 3. Okumu, who is eager to lead the Lady Maroons back to the Final Four of the University Athletic Association of the Philippines (UAAP), said seeing action in the CGS would be a big boost to their preparation. “My team is composed of very young rookie and veteran members. So, this tournament will help us get the exposure we need,” Okumu said. “I believe that my team will learn again how to deal with losses and wins every game. So to me, this tournament can help us grow, especially our young players.” Far Eastern University (FEU) Coach Rey Diaz

agrees and called the CGS as a good chance for his player to get a taste of the PSL brand of competition. “We treat it as a blessing. This is such a big blessing to the players,” Diaz said. “We’re expecting our players to gain a lot of exposure and raise their level of competition here in the PSL.” Also seeing action in this weekly encounter are De La Salle-Dasmariñas, University of Santo Tomas, University of the East and Colegio San Agustin. PSL Vice President Ian Laurel said the goal of the CGS is to help in the development of grassroots volleyball by giving collegiate players a chance to see action in a very competitive setting. In fact, CGS will be employing PSL rules and coaches will be allowed to use the video challenge and tablet systems during actual competition. The league is also dangling an all-expense paid international training to the team to emerge as champion of this tourney bankrolled by Isuzu, Sogo, Senoh, Asics, Mikasa, Mueller, UCPB Gen, Bizooku with ESPN5, Hyper HD and Aksyon TV as broadcast partners.

P.S.C., KOREAN GROUP HOLD SPORTS SCIENCE LECTURES

IXTY national and university coaches, athletes and sports science practitioners are expected to attend the third installment of the Sports Science Lecture Series at the PhilSports Complex in Pasig City on December 7. The Philippine Sports Commission (PSC) is conducting the lectures in partnership with the Korea Institute of Sports Science (KISS). Topics

of discussions include Sports Physiology, Sports Psychology and Sports Policy, among others. United Nations Educational, Scientific and Cultural Organization-KISS Chairman Program Manager Hyunwoo Jung, along with Administrator Joopeel Kim, KISS Senior Researcher Youngkoo Noh and Administrator for Donation and Volunteering Minju Park lead the list of resource speakers.

“We have a standing memorandum of understanding with KISS for two years now, and we at the PSC are happy to be able to conduct another sports science series with them,” PSC Chairman William Ramirez said. The first sports science series was held in December 2016. The KISS contingent then returned to the country last September 2017 for the second edition.

CLYDE MONDILLA (third from left) holds his trophy as he poses with (from left) Luisita Golf and Country Club’s Jeric Hechanova, low amateur Aidric Chan and Pilipinas Golf Tournaments Inc. Executive Director Narlene Soriano after winning the season-ending Luisita Invitational crown last Friday.

IT isn’t over until the fat lady sings. The Meralco Bolts, finalists in the last two stagings of the Philippine Basketball Association (PBA) Governors’ Cup, were on the ropes in the ongoing tourney this 2018 season. Well, they still are. After all, they are 3-6 (won-lost) with two matches to play in the elimination round sked. Every game is a must-win for them. A loss bounces them from contention in the quarterfinals. Is this a last gasp by the Bolts in this disappointing season? That remains to be seen. For now, they took down top seed Magnolia last Friday, 94-88, for their first back-to-back wins this conference behind a balanced scoring attack with five playing in double digits. They finally got serious help for the overworked Allen Durham and Baser Amer. Sure, Chris Newsome is reliable, but they need a bunch of others. Now, Meralco got off to a good start and staved off the rallies of the Hotshots. They didn’t fold in the crunch this time. And for them to figure for that chance of advancing, they will need all hands on deck. It is tough that they have had to deal with injuries, but that is the reality of the game and not an excuse. Knowing Head Coach Norman Black, he isn’t fond of excuses. While Meralco got five players in double digits, I think it is imperative that their guards do well so as to ease the pressure on the frontline that isn’t the tallest in the league. Against Magnolia, Anjo Caram finished with three points, Mike Tolomia had two, while Garvo Lanete didn’t score at all. The outside shot for any team is important because it opens up the lane. I don’t think it is enough that Durham, Reynel Hugnatan and Cliff Hodge (who is really undersized at the four-spot) try to haul down those boards.

If they can fire on all cylinders once more, Meralco will be back in business. On another business note, this time of the more personal and financial nature, I bumped into the Alaska Aces’ Jake Pascual in last Thursday’s National Collegiate Athletic Association match between San Beda and Lyceum. Pascual, a former San Beda Red Lion, had a booth inside the Filoil Flying V Centre where he was promoting his new business...Agent Snake Premium Shoe Solution. Agent Snake is a shoe cleaner, and Jake gave me a sample, which I was able to use for my son’s kicks. “I wanted to get into a business that is related to the game I love,” Pascual said. “We all know naman that basketball isn’t forever so it is good to get a head start in another field. And shoe protection is something anyone, kahit hindi athlete, will appreciate.” Several months ago, San Miguel Beerman Marcio Lassiter, who I first met while covering the first iteration of the Gilas national team, also introduced me to his business, Vampire Penguin at the Bonifacio Global City, which sells shaved snow cones or iced desserts that feature a variety of flavors from international favorites, such as strawberry cheesecake to green tea to halo-halo just to name a few. “I think given the humid climate of the Philippines, something cold and refreshing will be appeal to their taste buds,” Lassiter explained. “And it’s doing well.” Of course, Pascual and Lassiter aren’t the only athletes who have become young entrepreneurs. It is good to see them finding something outside their respective sport to get into not only for themselves, but also for the country.

OSCOW—Daria Kasatkina won the Kremlin Cup as qualifier Ons Jabeur narrowly failed to become the first Women’s Tennis Association (WTA) winner from Tunisia on Saturday. Jabeur was a set and a break up at 4-1 when she seemed to tire in her eighth match in as many days, allowing Kasatkina to win, 2-6, 7-6 (3), 6-4, with vocal support from the home crowd. The exhausted Jabeur served the last game with severe cramp and tears in her eyes. “I saw you gave everything today and this is what sport is about,” Kasatkina told Jabeur. “When I was a little girl 10 years ago, I was coming to this tournament and dreaming of being champion one day,” the 21-year-old Russian said. “Thank you to everyone who believed in me.” Sixth-seeded Kasatkina ended a run of three losses in finals, including last year’s Kremlin Cup, and has a career 2-3 record. Her previous win was in Charleston in April 2017. Jabeur played high-risk tennis, with 45 winners and 65 unforced errors, against 12 winners and 26 unforced errors for the defense-first Kasatkina. Russian competitors have won the women’s Kremlin Cup four times in the last five years, with Germany’s Julia Goerges beating Kasatkina in last year’s final. Jabeur, the junior French Open champion in 2011, was the first Tunisian to reach a women’s tour final and the first African finalist since South Africa’s Chanelle Scheepers in 2014. “I wanted to win today but it’s not meant to be. Maybe it’s a little bit lack of experience, but this is my first final so hopefully I can have many more,” Jabeur said. “Not a chance for me in the third set, cramping.” Qualifiers have played four WTA finals this year and lost them all. Jabeur’s run to the final included upsets of Ekaterina Makarova, former US Open champion Sloane Stephens, Anett Kontaveit and Anastasija Sevastova. Kasatkina came back from the brink of defeat in the second round when she broke Alize Cornet’s serve to stay in the match. In the men’s draw, Adrian Mannarino of France will face Karen Khachanov in Sunday’s final. The third-seeded Khachanov won an all-Russian semifinal over Daniil Medvedev, 6-1, 6-7 (5), 6-3, to reach his third career final. Mannarino beat former Moscow champion Andreas Seppi, 7-5, 7-5, in their semifinal. Mannarino was 5-3 down in the second set before winning four straight games to close out the match. The Frenchman has lost all five of his career finals. AP

Sports

Kasatkina wins Kremlin Cup at expense of Tunisian rival

BusinessMirror

| Monday, October 22, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SIXTH-SEEDED Daria Kasatkina ends a run of three losses in finals, including last year’s Kremlin Cup, and has a career 2-3 record. AP

LIONEL MESSI will be out for at least three weeks. AP

BROKEN ARM! Lionel Messi was trying to reclaim the ball when he ran into the back of a defender and fell in the 17th minute. Trying to cushion his fall, his right elbow bent badly and he was in visible pain. Doctors wrapped his arm with bandages and the playmaker tried to continue but gave up.

By Tales Azzoni

The Associated Press

ADRID—Barcelona ended its slump and regained the Spanish league lead but there was little to celebrate as Lionel Messi broke his right forearm and will be sidelined for three weeks. Also, Real Madrid lost again while suffering its worst scoring drought. Messi scored and walked off injured in the first half of Barcelona’s 4-2 win over Sevilla at Camp Nou Stadium, while Real Madrid players and coach Julen Lopetegui were jeered off the field after they lost to Levante 2-1 at Santiago Bernabeu Stadium. Messi was taken to a clinic, and Barcelona said he broke the radial bone. At the least, he will miss the Champions League match against Inter Milan on Wednesday, and the clasico against Barcelona next Sunday. “We will notice his absence,” Barcelona Coach Ernesto Valverde said. “But we’ve played without him in the past. We will be prepared to overcome this.” Messi was trying to reclaim the ball when he ran into the back of a defender and fell in the 17th minute. Trying to cushion his fall, his right elbow bent badly and he was in visible pain. Doctors wrapped his arm with bandages and the playmaker tried to continue but gave up. “We shouldn’t let Messi’s injury affect us,” defender Gerard Pique said. “We have a team good enough to do well in the matches that we have ahead.” Messi scored their second goal with a shot from outside the area in the 12th, about 10 minutes after Phillipe Coutinho opened the scoring. Luis Suarez added the third by converting a second-half penalty kick. Sevilla replied through Pablo Sarabia, Ivan Rakitic increased Barcelona’s lead in the 88th, and Sevilla netted again thanks to Luis Muriel in injury time. Barcelona struggled more than the scoreline showed, with goalkeeper Marc-Andre ter Stegen having to make a pair of remarkable double-saves, but the result was enough to give Valverde’s team a one-point lead over surprising Alaves. Sevilla, which had won four in a row in the league, including 3-0 against Real Madrid, dropped to third place, two points off the lead. Atletico Madrid, which drew at Villarreal 1-1, also was two back after nine matches. Real Madrid was four points behind Barcelona, in fifth place.

REAL MADRID’S DEBACLE

REAL Madrid fans ran out of patience after seeing their team suffer its worst scoring drought and lose for the

fourth time in five matches. Fans loudly jeered after Madrid reached 481 minutes without finding the net in the loss to Levante, which entered the game with the league’s third-worst defense. Levante scored early with goals by Jose Luis Morales in the sixth minute and Roger in the 13th after a penalty awarded following a video review. Marcelo pulled one back in the 72nd. Madrid began the match without Gareth Bale and Karim Benzema, who are coming off injuries. It still created enough chances, striking the woodwork three times and having a goal by Mariano Diaz disallowed for offside in the final minutes. Marco Asensio also had a first-half goal disallowed by VAR. Madrid finished with 70 percent possession and more than 30 attempts. Local media immediately questioned whether Madrid should fire Lopetegui before the clasico next weekend at Barcelona or give him a chance to try to save his job against the rival. “Football matches are won by scoring goals and not according to who deserves to win,” said Lopetegui, who is only three months into his stint with the club after being fired from Spain’s national team. Before the clasico, Madrid hosts Viktoria Plzen on Tuesday in the Champions League to try to rebound from a 1-0 loss at CSKA Moscow.

ATLETICO HELD

ATLETICO struggled against Villarreal and goalkeeper Jan Oblak pulled off difficult saves to keep Diego Simeone’s team from defeat. Luis Felipe put Atletico ahead in the 51st and Mario Gaspar equalized in the 65th. Villarreal, 14th in the standings, remained winless after six home matches in all competitions this season.

ANOTHER DRAW

VALENCIA couldn’t manage more than 1-1 against struggling Leganes at home, being held winless for the fifth time in six matches. Valencia has only one win this season, 1-0 at Real Sociedad two rounds ago. Jose Gaya scored in the 85th minute to keep the hosts from losing after Gerard Gumbau put Leganes ahead with a second-half penalty kick.

RONALDO NETS 400 GOALS, BUT... M

ILAN—Cristiano Ronaldo became the first player to net 400 goals across Europe’s top 5 leagues. It wasn’t enough on Saturday to maintain Juventus’s perfect start to the season. Ronaldo, who has been accused of rape in a civil lawsuit in the United States, scored in the 1-1 draw against Genoa. It was his fifth Serie A goal in nine matches. Ronaldo has 311 goals in La Liga for Real Madrid, and 84 in the English Premier League for Manchester United. Juventus won all of its previous 10 matches across Serie A and the

Champions League. Though Juve’s lead in Italy was cut to four points after Napoli won at Udinese 3-0, coach Massimiliano Allegri believed this result would help his side for arguably its toughest test yet, Manchester United on Tuesday in Ronaldo’s return to Old Trafford. “We drifted out of the game after a good start to the second half and, instead of making it 2-0, we let them make it 1-1,” Allegri said. “This isn’t

CRISTIANO RONALDO has scored 311 goals in La Liga for Real Madrid and 84 in the English Premier League for Manchester United. AP

good, because it’s with matches like this that titles are lost. After 10 minutes of the second half we were already thinking about Manchester. We needed to have more focus. “But it’s a draw that serves us well. It’ll get our feet back to earth and help us understand that, to win matches, you need sacrifice and hard work.” Kathryn Mayorga filed a lawsuit last month in Nevada state claiming Ronaldo raped her in his Las Vegas hotel room in 2009. Police also reopened an investigation into the allegation at her request. Ronaldo had last weekend off while Juventus was idle during the international break. Normally the star of his national team, he was left off Portugal’s squad. Less than 20 minutes in on Saturday, he scored. There was a miscommunication between Genoa goalkeeper Ionut Radu and his defender on Joao Cancelo’s cross from the left, allowing Ronaldo a simple tap-in at the far post. Genoa’s first goal at Juventus since January 2013 came from Daniel Bessa with a header in the 67th minute. It was a memorable first match back in charge for Ivan Juric, who returned to Genoa for his third spell as coach.

OFF THE BENCH

THE substitutes made the difference at Udinese. Fabian Ruiz replaced the injured Simone Verdi in the opening minutes and the midfielder scored his first Napoli goal in the 13th, curling a stunning 20-yard strike into the top right corner. Dries Mertens doubled Napoli’s lead from the spot eight minutes from time after Udinese substitute Nicholas Opoku handled Jose Callejon’s effort. There was still time for Marko Rog to score, just 40 seconds after coming off the bench. Napoli visits Paris Saint-Germain in the Champions League on Wednesday.

SPAL MAKES HISTORY

ROMA fell to a surprise 2-0 defeat at home to 10-man Spal, which won at the Stadio Olimpico for the first time in Serie A in 53 years. Roma went into the international break with four straight wins in all competitions while Spal had lost its last four. However, the visitors took the lead shortly before halftime when Andrea Petagna converted a penalty after Manuel Lazzari was fouled by Luca Pellegrini. Spal doubled its advantage 11 minutes after the break as Kevin Bonifazi headed in a corner at the near post. Spal goalkeeper Vanja Milinkovic-Savic—the younger brother of Lazio midfielder Sergej—did brilliantly to fingertip Pellegrini’s effort onto the bar but swiftly went from hero to villain. Milinkovic-Savic was booked for time-wasting and he received a second yellow card seconds later for petulantly throwing the ball away, leaving Spal with 10 men for the final 15 minutes. However, it clung on for its first win at Roma in the top flight since 1965. Roma hosts CSKA Moscow in the Champions League on Tuesday. AP

Life

Angels of the Lord

NGELS of the Lord, bless the Lord, praise and exalt Him above all forever. Oh God, who in Your unfathomable providence are pleased to send Your holy Angels to guard us, hear our supplication as we cry to You, and we may always be defended by their protection and rejoice eternally in their company as we pray, “Angel of God my Guardian dear, to whom His love commits me here. Ever this day be at my side to light and guard to rule and guide.” Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

BusinessMirror

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

DODJIE BATU

CHRIS DIAZ

PATRICK LAZOL

ALL ACCESS: INDEPENDENT CINEMA IS ON A ROLL D3

Monday, October 22, 2018

WILBUR LANG

KC PUSING

KELVIN MORALES

JUN ESCARIO

EDGAR BUYAN

REYNIER ABELLO

PROTACIO EMPACES

PMFF Season 9: The Ten Standouts TOTA PULCHRA MISS CHARLIZE

@misscharlize

N its ninth season, the Panasonic Manila Fashion Festival (PMFF) has firmly entrenched itself as an industry fixture. Powered by Art Personas CEO Ronnie Cruz, his model-wife Sara Kae and director Jackie Aquino, the biannual showcase theme was “Shaping a Fashion Movement,” which was held over four days at The Marquee Tent at the Edsa Shangri-La. At PMFF, emerging designers have found an avenue for their exuberant creativity while the established ones use it as an exciting platform to reach a broader audience. This season, the standout collections paid homage to Halston (Jun Escario), his own greatest hits (Protacio Empaces), Takahiro Hirayabashi (KC Pusing) and Katharine Hepburn (Wilbur Lang); found nostalgic glamour in our heritage (Edgar Buyan), the 1950s (Chris Diaz) and the babaylans (Patrick Lazol); and derived ideas from cults (Reynier Abello), tribes (Dodjie Batu)

and the dark (Kelvin Morales). n PROTACIO EMPACES: Honestly I don’t start a collection with a title. But, yes, motivation pushes me to create. This time I gathered all my “strengths” and made all these elements evolve into prettier versions of their past. I usually work on the classic silhouettes and apply it with a much more comfortable way of expressing design and function. I’m not so good with the application of social media nowadays, that’s why I joined PMFF because I know they can help me a lot with that. n EDGAR BUYAN: “MindaNow: Filipino Series” is a nostalgic journey to the past. It’s mostly separates made of piña. The clothes, with digital prints of old Philippines, have easy and shapeless silhouettes that can be worn by both males and females. n KC PUSING: For “Fragments,” I stumbled upon Takahiro Hirayabashi’s Phantom Pain series but I find it not strong enough to use it as the only inspiration, so I started to play “Dragon Nest.” The video game is a perfect “escape” for me as I’ve made a new world with DeathEaters (S31)—and as time goes by, the idea of helping each other (in game and in real life) to kill monsters and achieve everyday goals made me realize that, why not use this as an inspiration? Palette-wise, I got it from the Phantom Pain and since it’s going to be a neutral androgynous streetwear luxe collection, Skechers was the perfect accessory as we share the same principles in Fragments—versatility, comfort and style. n DODJIE BATU: With “Studs and Weaves,” I want

to show my own interpretation of the linear patterns derived from the Mandaya tribe’s patterns without the colors. I’m greatly motivated by the confidence of a man who wants to wear my garments. My take is always to show how the body interacts with the material that I choose, like stretch linens and wool with stripes and dots. n WILBUR LANG: For “Covenant,” the inspiration came about after watching movies starring Katharine Hepburn, most specially during the 1930s. I also got obsessed with Wiccan-themed movies (Practical Magic, The Cra�t, Beautiful Creatures) and TV shows (American Horror Story: Coven). I used plenty of eyelet cotton fabrics, wool and crepe. n PATRICK LAZOL: For “Indayog,” I watched and was captivated by the contemporary dance performances of the Bayanihan Dance Company depicting the role of a babaylans, who were women community leaders during precolonial Philippines. Collecting fragments of culture from their story and mixing it with modern ideas of dressing was my motivation in working with this collection. Most pieces are oversized and exaggerated at some points, but the key was to portray both masculine and feminine identities of the babaylan by using cotton, denim, crepe and knit to more formal fabrics like jusi and wool. n KELVIN MORALES: “Dance in the Dark” is an experimental, avant-garde collection inspired by the feeling of curiosity, fascination and fear of the dark. It focuses on movements, odd shapes and industrial materials like silicone rubber and acrylic glass, and

lightweight fabric like cotton linen and organdy silk. n CHRIS DIAZ: “Camino” depicts a roadside motel seduction in the 1950s (with nods from rockabilly, rodeo and greaser culture). Elvis, Johnny Cash, Wanda Jackson, Bettie Page are also references for this collection. It’s hourglass for the ladies; working on with full skirts and pencils. Emphasis on the waist; midriff bustiers, with bows/keyholes. Belts with car seatbelt-like buckle in either plain or encrusted/ feathery, with bolo ties and scarves as well as shirting worn with knots. n REYNIER ABELLO: “Garden Of Earthly Delights,” the collection of Armada by Abello, is inspired by the corruption inside institutions like religion and cults. The opposing forces of religious observance and moral decomposition within such communities was a fascinating takeoff point for a collection that hinges toward strict tailoring while also veering toward deconstruction. It’s within this interesting tension that allows the pieces to become elevated from being plain and generic, guiding the direction into a realm of classicism with a tinge of perversity. n JUN ESCARIO: “1972” is an ode to Halston. My focus has always been luxury and style, not fashionable. So fabric is always the key in any show I do. Pure silks, silk crepes and some beaded fabric but very minimal design. Some shoulders might be strong but I didn’t plan the collection to be “fashionable.” There were dangerously sexy pieces like the side boob and the uneven backless details with the liquid gold paint prints that I enjoyed doing the day before the show. n

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BusinessMirror

Monday, October 22, 2018

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jesse Tyler Ferguson, 43; Saffron Burrows, 46; Jeff Goldblum, 66; Christopher Lloyd, 80. HAPPY BIRTHDAY: Look at the possibilities, not the negativity, and you will be motivated to make positive changes this year. Concentrate on participating in events and activities that move you. Strive to become the best version of yourself and project happiness and joy to all you encounter. Make this year count. Take nothing for granted, and live in the moment. Your lucky numbers are 5, 13, 18, 20, 26, 37, 41.

a SM Beauty Playground has a special experiential beauty services like skin analyzers, hair color bar, brow grooming, mask bars and a lot more.

STYLE your hair with the prepped hair tools just for you at the SM Beauty Playground.

Beauty finds a playground

M Beauty (www.facebook.com/smbeautyph) welcomes women to a playground where they can discover, experience and play with the widest range of beauty products and services under one beauty hall. Discover and learn about the newest makeup collections and trendiest makeup styles and techniques from hundreds of beauty brands. Experience special beauty services like skin analyzers, hair color bar, brow grooming, mask bars and a lot more. At the SM Beauty Playground, women will have all the time to play, try, and choose makeup and skin care at the fun and adorable setup in SM Makati, while you can also visit all SM Beauty Section in all SM Stores. Tag girlfriends along and let them explore their very own playground freely with some of SM Beauty’s best-loved beauty brands: n PREMIUM COSMETICS: Clinique, Bobbi Brown, Khiels, Estee Lauder, MAC, Benefit and Shiseido n MASSIVE AND WIDELY POPULAR COSMETIC BRANDS: Maybelline, L’Oreal, BYS, Happy Skin, BLK, In2It, Max Factor, Covergirl, Sleek, Pop Beauty, Revlon, Clio, Jordana, Burt’s Bees, Ever Bilena, Bell Cosmetics, Lock makeup from Korea and VICE Cosmetics n TOP SKIN BRANDS: Avene, Biorderma, Sebamed, Olay and Pond’s, Glam Glow, Marula Oil and Fillerina n TOP FRAGRANCES: Complete your look with fragrance brands Ralph Lauren, Giorgio Armani, Versace and Bvlgari, among others. n

TAURUS (April 20-May 20): Look at your options. Time is on your side, so don’t feel pressured to act before you are ready. Communication is the best vehicle if you want to find out exactly what you are up against. Don’t let anger take over. HHH

GEMINI (May 21-June 20): Play nice, but play to win. Use your ingenuity to formulate ideas that will help you advance, but not at the expense of someone else. You are smart enough to win fair and square, and your valor will not go unnoticed. HHHH

LEO (July 23-Aug. 22): Remember what’s important, and try to be patient. Personal change will be a result of what someone else decides to do. Regroup and figure out what’s best for yourself, and keep moving forward. HHH

VIRGO (Aug. 23-Sept. 22): Take a trip and visit someone you look up to or can learn from. The changes you make will attract friends and associates who value what you have to offer. Collaboration will bring the best results as well as trusted friendships. HHH DISCOVER, experience and play with the widest range of beauty essentials at the SM Beauty Playground.

LIBRA (Sept. 23-Oct. 22): Pick up the pace and take on responsibilities. Your input will make a difference to those struggling to keep up. A change of attitude will lead to physical improvements, proper diet, exercise and the will to be your best. HHH

SCORPIO (Oct. 23-Nov. 21): Don’t give in to unfair or manipulative tactics. Make your thoughts and plans clear. Change should begin within, not be the result of following someone who is pressuring you. HHH

By Marane A. Plaza FASHION capitals of the world find this classic style staple trendy again. From New York to Milan, Tokyo to Paris, allwhite OOTDs are rocking international runways. This style forecast has reached the radars of fashionistas around these, with fashionable Filipino women rocking the classic all-white looks in their ’grams and everyday lives. If there’s one thing tricky about white OOTDs, it’s that the daintier they look, the better. To make sure you have all your chic white outfits looking all clean and sophisticated, you have to be meticulous and proactive in taking good care of your basic whites. Sometimes, the only style trick you’d ever need is having that laundry soap that can make your white outfits looking clean and crisp. For fashionistas, that style secret requires using the equally timeless laundry soap, Perla. Perla is the perfect partner in taking care of your clothes, especially your whites, as it’s made with natural ingredients that keep your whites looking pristine and new. The cool part? It also ensures you that your skin remains moisturized and not irritated. Recently, 30 real-life Perla users and fashionistas showed how they appreciate the way Perla takes care of their wellloved white outfits in a runway show, dubbed as “Basics Redefined: The Perla Fashion Show.” The women slayed the Perla all-white OOTD contest on Facebook and Instagram, showcasing how their white outfits have been maintained looking all clean and chic with Perla soap. The product is known for its gentle cleaning properties

CANCER (June 21-July 22): You’ve got more going for you than you realize. Don’t fear what others think or say; trust in your ability to get things done. A change of plans will end up working in your favor. Embrace the future with optimism. HH

Why the white trend will never go out of style FROM left: Toni Gonzaga, brand ambassador; Quiel Estrella, Perla brand specialist, SCPG Asia-Pacific Inc.; third placer Jamielyn Ruby Abdula; first placer Trishia Louise Perez; second placer Maria Melinda David; Gelli Victor, event host; and Norman Agatep, president and managing director of Grupo Agatep.

ARIES (March 21-April 19): An emotional situation should not be allowed to take over. Reflect on what has transpired and figure out a way to get along instead of making a fuss. Professionalism, integrity and balance will help gain respect and support. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home and spend time fixing up your space or making personal changes that will make your life better. Keep your plans a secret until you have had a chance to work out any problems. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Get in the game. Make changes that will enhance what you have to offer. Keep up with technology or the latest updates. Being current will make a difference to the way others view what you do. HH

without the harsh and harmful ingredients. It retains the credibility of colored clothes without compromising the strength of the fabrics even after several washes. Proven, tested and trusted over the years, Perla remains the No.1 choice of many Filipino women when it comes to maintaining delicate clothes. Aside from walking the runway with fashionable looks recently at The Block, SM City North Edsa, the winners of the social-media contest got to interact with Perla’s brand ambassador, TV host and notable actress Toni Gonzaga. “It’s so inspiring to see all these ladies, from all walks of life, gathered in one place to celebrate fashion and timeless style,” Toni shared. “These women are mothers, students

and career women, and Perla took the time to pamper them, dress them and glam them up. I’m so happy that they got to experience the level of Perla’s meticulous care, just like what I’ve enjoyed from Perla.” From the 30 ladies who joined the fashion show, three winners were named who subsequently took home special prizes from the brand. Trishia Louise Perez is a 23-year-old single, career woman from Manila, who bagged the first-place prize. Coming in at second place was Maria Melinda David, a 21-year-old, fulltime breastfeeding mom, and at third place was Jamielyn Ruby Abdula, a 21-year-old management analyst at a realestate company in Bonifacio Global City.

AQUARIUS (Jan. 20-Feb. 18): Don’t expect something for nothing. If someone is trying to coax you into something questionable, consider why, and don’t be afraid to pass. Rely on what you know to be factual and the people offering options, not demands. HHHH

PISCES (Feb. 19-March 20): Let your mind wander and your ideas flow. The changes you make should be geared toward an efficient lifestyle. How you handle your money, responsibilities and relationships with your peers or employer will influence your reputation. HHH BIRTHDAY BABY: You are intense, sensitive and dedicated. You are loyal and perceptive.

‘famous pairs’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Trumpeted 5 Audio elevators 9 Business end of a sword 14 Go beyond “like” 15 West African country 16 Took to the jailhouse 17 Improved like wine 18 14-Across deity 19 Put in a poker stake 20 Show routine, sometimes 23 Leave the outside 24 Small bit of land 25 Not close 28 Do American Idol 30 Mansion and grounds 32 The Raven author 35 Major blood vessel 38 Bear in constellations 39 Flowering times 43 Action film staple 44 German mug 45 Dr. Seuss character 46 Shake awake

9 London carriage 4 51 Prolonged conflict 52 Pyramid function 55 Seed for daddy? 59 Where separate things are 61 Plump fowl 64 Bobbing on the waves 65 Vicinity 66 Long-tongued mammal 67 Take a load off 68 March 15, e.g. 69 Fundamental 70 It’s smelly on purpose 71 Littlest pup DOWN 1 Seen-it-all feeling 2 Access online subscriptions 3 Big thing to plan for 4 Clubs for sand traps 5 Bible word of agreement 6 New Orleans 3-Down 7 Walks heavy-footed 8 Rope maker’s fiber 9 Floral leaves

0 Sprinter’s space 1 11 Oft-stepped-on creature 12 It can be a high roller 13 Period’s place 21 Suffix with “sect” 22 Surname-dividing word 25 Rural places 26 Befuddled 27 Toss detente aside 29 Eggy drink 31 Rum-___-Tugger (“Cats” cat) 32 “I don’t believe that!” 33 Diva’s production 34 Base overthrow, e.g. 36 Dynamite letters 37 Proficiency 40 Marker for a debtor 41 “Dear” guy 42 Not appropriate 47 Like some routes 48 34-Down cut 50 Coat for goat 53 Have desires 54 Matadors’ procession

6 Placed on watch 5 57 Get all gussied up 58 Bread riser 59 Arizona Native American 60 See socially 61 Corny remnant 62 Alias, briefly 63 Sound projectors Solution to Friday’s puzzle:

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Show BusinessMirror

Monday, October 22, 2018

Independent cinema is on a roll ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

HE Cinema One Originals Film Festival ended yesterday on a high note, and the QCinema International Film Festival opened with one of the best Japanese films in recent years, Shoplifters, written, edited and directed by Hirokazu Kore-eda, who also megged memorable Japanese masterpieces, such as Like Father, Like Son; Still Walking and Nobody Knows. Shoplifters is one of the most successful Japanese films this year, and has enjoyed a lot of following, especially after it bagged the Palme d’Or at the prestigious Cannes International Film Festival. There were quite a handful of welcome surprises at the recently concluded 2018 Cinema One Originals Film Festival. We loved the simplicity and sincerity of Carl Papa’s musical animated film Paglisan, about the decaying relationship of a couple in their senior years, made more challenging by irreversible mental conditions. The film used the speaking and singing voices of actors Eula Valdes, Ian Veneracion, JunJun Quintana and Khalil Ramos. We liked Joseph Abello’s Double Twisting Double Back, and both lead actors Joem Bascon and Tony Labrusca were in their best elements. We were swept off our feet by Rod Singh’s Mamu, and a Mother, Too! where the principal actors performed amazingly. Iyah Mina’s debut performance on the big screen impressed us. Her take on the titular role of Mamu was real, natural, and we felt every emotion that she unleashed in defining and redefining love in its many complex forms and stages. EJ Jallorina as the teen Bona was also such a charmer, effortlessly leveling up to the powerful performance of Mina. Arron Villaflor does well as the lover of Mamu, his screen

GMA STAGES ‘KAPUSO MILYONATION’ PROMO FOR 7TH YEAR IN A ROW

JOEM BASCON and Tony Labrusca in Double Twisting Double Back

presence is strong. We reckon he should be given more roles that will showcase his range. Villaflor also did well in Jerrold Tarog’s Goyo, released a few months back. Ricky Davao also redefined competence in Whammy Alcazaren’s controversial movie Never Tear Us Apart (originally titled Fisting), although we feel that this film can be quite polarizing. By the time you read this, the awards have already been handed out. Just like in all the award-giving endeavors, the fate of the films was decided by a five-man jury, and for CinemaOne originals, they picked critic-academician Patrick Campos, filmmakers Mac Alejandre and Rory Quintos, international festival programmer John Badalu and actor Piolo Pascual. Pascual was reported to be a last-minute inclusion in the roster of jury members after another actor, Dingdong Dantes, backed out, when his mother studio refused to allow

their television contract actor to perform such duty for the competing network’s festival. This week, QCinema International Film Festival, which runs until the end of the month, will have Filipino films in its main competition: Dwein Baltazar’s Oda sa Wala, Teng Mangansakan’s Masla A Papanok, Dan Villegas’s Hintayan ng Langit, Gimmy Harn’s Dog Days and Samantha Lee’s Billie & Emma. Aside from Japan’s Shoplifters, cinema aficionados will be able to watch Marcelo Martinessi’s The Heiresses from Paraguay, Poland’s Cold War by Pawel Pawlikowski, Lee Chang-dong’s Burning from South Korea, Hsin Yao Huang’s The Great Buddha from Taiwan and Anucha Boonyawatana’s Malila, The Farewell Flower from Thailand. Indeed, it’s a back-to-back win for independent cinema with two festivals showcasing the best new films from the Philippines and the rest of the world. n

ALMOST P12 million worth of prizes will be given away this Christmas by GMA’s highly anticipated proof-of-purchase network promo “Kapuso Milyonation KrisMasaya.” The network’s longest-running and most successful promo has given away 12 house and lots, 48 vehicles and produced 159 millionaires across 13 seasons. This year, there will be 1,600 lucky winners of cash prizes and appliances nationwide, including six winners of P1 million, one winner of a brand-new house and lot from Lumina Homes, and one surprise winner of P350,000, all tax-free. Participants must enclose a proof of purchase in a plain white envelope from any of the participating brands for this Christmas season’s Kapuso Milyonation Krismasaya: Tang, Bear Brand Fortified Powdered Milk Drink, Nescafé Creamy White, UFC Tamis-Anghang Banana Catsup, Ajinomoto Ginisa Flavor Seasoning Mix and Eden Cheese. Complete name, age, address, contact number and handwritten signature must be included. At the back of the envelope, participants must write “Kapuso Milyonation,” brand attached and region of residence. Entries must be submitted on or before December 28. This year, Kapuso Milyonation has also opened its doors to sari-sari store partners giving participants and their sari-sari store partners more chances of winning additional prizes. To win additional cash prizes, participants must include on the entry the name of the valid sari-sari store where the proof-of-purchase entry was bought, the store’s complete address and the contact number of the sari-sari store owner. On the other hand, winning sari-sari store partners will get the chance to receive almost P75,000 worth of gift packs, tax-free. There have been 376 lucky sari-sari store partner winners to date. More information is can be found at www.facebook.com/GMAPromos.

D4 Monday, October 22, 2018

Style

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Alex Gonzaga talks about her vlogs and what she learned recently AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

CTRESS, TV host and endorser Alex Gonzaga was recently embroiled in a controversy involving one of her videos, for which she has already apologized. On the sidelines of an event for the new Block & White Sakura White, Gonzaga explained that her apology was sincere and the experience “was something I learned a lot from.” “I understand those who watched my channel for the very first time wouldn’t understand that things like that are something I do often. The situations are ‘mounted’ in that the people know beforehand what will happen. I don’t know how they will react but they do know what will happen,” said Gonzaga. The only people who are “ambushed” when Gonzaga shoots her videos are her parents, her sister Toni and her boyfriend. For everyone else, permission is first obtained. “But that’s not an excuse. What I’ve learned is that not all people will react the same way when they watch my vlogs. I’ve also been reminded that I have fans who are minors and I need to be more responsible. Now I know that while my YouTube channel is my creative outlet, I also need to be careful,” said Gonzaga. “I also need to post disclaimers for content such as the ones that offended people in the past,” she added. Gonzaga has been an endorser of Block & White for quite some time. She said she likes the product because it moisturizes her skin, leaves it smelling good and is not expensive. The TV host always has a bottle or two in her car, another in her purse and, of course, one at home. “It really works when I’m on the go and I need to moisturize my skin. The bottle is so handy so it’s no trouble to put in your purse.” “Block & White Sakura White, the brand’s newest variant, has Sakura flower petals to effectively soften

your skin and eliminate dryness from lack of moisture and exposure to pollution and other environmental aggressors. “It combats dullness and gives you a healthy glow to complement your fair skin. With whitening vitamins, such as Vitamin B3, it improves your skin’s tone and texture for a more even complexion,” says Block & White in a press release. Block & White Sakura White has whitening benefits and SPF 20PA++ to protect skin from UVA/UVB rays. It’s available at all leading department stores and drugstores nationwide, and from Lazada and Shopee. I recently got to try Bioré UV Aqua Rich Watery Gel, a water-light daily use Japanese sunscreen gel. It has SPF 50+ and PA++++ for UVA/UVB protection. The newly upgraded sunscreen gel, compared to the 2015 formula, is now resistant to water and sweat but has retained the same weightless, water-gel texture and fresh finish. It has UV protection-enriched water capsules that turn the gel into a uniform, water-like protective veil when applied. Bioré (www.facebook.com/BiorePH) has also added “light correction powder” to give the skin a light-diffusing effect for a fresh, brightened look, while the blend of hyaluronic acid, royal jelly and “Mix Citrus Essence” helps the skin retain moisture and softness. The water-light gel provides durable protection against daily UV exposure without leaving a sticky or white residue. I’ve always been asked what the best antiaging product is and my reply is unchanged. If you want younger-looking skin, always wear sunblock. For me, Bioré is one of the best options out there because you know it was manufactured by a reputable Japanese company. Most of their products cost less than P500 and are widely available. I’m actually hesitant to use sunscreen products that are very inexpensive because I am not sure what ingredients are in them, but I’ve been buying Bioré for a couple of years now and the brand hasn’t failed me yet. OK, I’ve talked about UVA/UVB protection twice in this column. What is UVA/UVB and why is it important that you’re protected from them? It’s not just about beauty and aging. “Both UVA and UVB penetrate the atmosphere and play an important role in conditions such as premature skin aging, eye damage [including cataracts] and skin cancers. They also suppress the immune system, reducing your ability to fight off these and other maladies,” said www.skincancer.org in an article. In the Philippines, Bioré is distributed by Vibelle Distribution. n

BusinessMirror

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Monday, October 22, 2018 E1

THE ART OF THE ELEVATOR PITCH

By Carmine Gallo

ALIFORNIA recently passed a law requiring public firms headquartered in the state to include at least one woman on their boards by the end of 2019. The proposal has led to criticism that board quotas have unintended consequences. Others have claimed that a quota might be necessary to combat the glacial pace of voluntary change in boardrooms. We have gathered data on every board appointment and resignation filed with the SEC for all public companies with more than $75 million in market capitalization since April 1. The findings are eye-opening. Between April 1 and September 24, 228 women have been appointed to boards relative to 433 men. Interestingly, when we focus on companies with a market capitalization of $5 billion or more, the male tilt goes the other way. That is, 57 women have been appointed to boards of such large companies relative to only 19 men. Hence, pressure from the media and large institutional investors appears to have largely worked in such companies at addressing the gender imbalance. However, when we consider the board composition of firms just going public, only 51 women have been appointed to the boards of firms that went public relative to 455 men. Why such a large imbalance? Venture capital is a notoriously male-dominated business. VCs usually invest their money in start-ups that go public and hence they end up serving on the boards, too. Last year just 2 percent of venture capital funding went to start-ups founded by women and women comprise just 9 percent of the decision-makers at US venture capital firms. Given that a large fraction of firms going public are based in California, the “quota” might create new opportunities for women directors, especially when the VCs cash out and resign from the boards. VCs and start-ups deserve more focus among institutional investors, proxy advisers and the media as battlegrounds for gender disparity in the board rooms.

HEN asked what their movie is about, successful screenwriters have a ready answer that is clear, concise and engaging. Business leaders are asked a version of this same question throughout their careers: What is your presentation about? What does your start-up or product do? What’s your idea? If you can answer in one compelling sentence, you can hook your audience. According to molecular biologist John Medina of the University of Washington School of Medicine, the human brain craves meaning before details. When a listener doesn’t understand the overarching idea being presented in a pitch, they have a hard time digesting the information. A logline will help you paint the big picture for your audience. “A police chief, with a phobia for open water, battles a gigantic shark with an appetite for swimmers and boat captains, in spite of a greedy town council who demands that the beach stay open.” What makes it work? The logline for “Jaws”identifies the key elements of the story: the hero, his weakness, his conflict and the hurdles he must overcome—all in one sentence. Though mastering the logline is challenging, there are steps you can take to do so.

Keep it short

A LOGLINE should be easy to say and easy to remember. As an exercise, challenge yourself to keep it

under 140 characters, short enough to post on the old version of Twitter (before the platform allowed 280 characters per tweet).

Identify one thing you want your audience to remember

THE “one thing” should cater to the needs of your audience. With one sentence, customers want to know more because his logline solves a specific problem and will make them look like heroes to their bosses. Above all, the logline is easy to remember and gives people a story they can take to other decision-makers in their organizations.

Make sure your team is on the same page

EVERY person who speaks on behalf of your company or sells your product should deliver the same logline. Loglines attract attention; consistent loglines are memorable and repeatable. Sometimes the language will come to you immediately, other times it might take more practice. Be patient. Once you master the logline, you will be able to easily clarify your ideas and help the audience retain, remember and act on them. Carmine Gallo is a Harvard University instructor at the Graduate School of Design.

Career hot streaks can happen at any age

By Dashun Wang

N science, 1905 is known as the annus mirabilis, or “miracle year,” the period when Albert Einstein, at the age of 26, published several discoveries that changed physics forever. What happened for Einstein in 1905 can be described as a “hot streak,” or burst of seemingly miraculous success and impact. Our understanding of creative careers to date has suggested they’re unlikely to include hot streaks. For example, my earlier coauthored work found that a scientist’s biggest research hit occurred completely randomly in their sequence of published works: We called this phenomenon the “random impact rule.” While intriguing by itself, the random impact rule raises puzzling implications: What happens

after we finally produce a breakthrough? Indeed, if every work in a career is like a random lottery draw, then one’s next work after a hit may be more mediocre than spectacular, reflecting regression toward the mean. Most of us—including me— would like to believe that if we produced a big hit, it would help us produce more hits afterward. Are we really regressing toward mediocrity after we break through? To answer these questions my student Lu Liu and I along with other collaborators studied the careers of about 30,000 scientists, artists and film directors. We find that across these diverse careers, the random impact rule holds firm. In fact, it’s not just the biggest hit that occurs at random: The secondbiggest and third-biggest also hit randomly. This finding paints an

Which types of companies are adding women to their boards, and which aren’t

unpredictable view of creativity, with an outsized role of chance in individual success. If our careers are indeed like lotteries, should we just keep drawing and hope for the best? Given when someone produced their best work, when would their second-best work be? They’re just around the corner. Creative careers are characterized by bursts of highimpact works clustered together in sequence. Hot streaks are ubiquitous: For each domain we studied, about 90 percent of individuals had at least one hot streak. We also found that hot streaks usually last for short periods. Moreover, the timing of the hot streak is random. Hence while periods of relative success were common, there was no way to predict when these would emerge in a given career, in line with the random impact rule uncovered earlier. Unexpectedly,

hot streaks were not associated with greater productivity. Thus we don’t produce more during hot streaks than we typically would, but what we create is substantially better than our remaining body of our work. But perhaps the most important—and uplifting—implication is for the individual innovators out there striving to make their mark on the world. The conventional view is that an individual’s best work will likely happen in their 30s or 40s. Our findings indicate that the hot streak may emerge with any work you put out, resulting in a near-term cluster of relative successes. Your big break, it appears, may arrive at any time in your career. Dashun Wang is an associate professor at the Kellogg School of Management, Northwestern University.

The problem with using ‘I statements’ at work

By Liz Kislik

T has become common advice for businesspeople to use “I statements”— such as, “I feel frustrated that you missed the budget deadline twice”—as a way to raise challenging conversations without causing colleagues to feel blamed or under attack. But in most cases, I statements are more likely to undercut your argument than to strengthen it. Here are three reasons why.

They can be seen as expressions of emotionalism, particularly when they’re used by women. I statements can damage your

credibility if others believe your feelings have been hurt, rather than recognizing that you are concerned about potential harm to the business. A solid case complete with specific examples, trends and likely outcomes can be significantly more effective, if you let the numbers do the talking for you.

They can appear to be about what’s best for you personally. If

the emotional appeal of an I statement doesn’t succeed, others may feel you are only doing what’s easiest for you.

They can put you at risk of appearing weak. This is particularly a concern because leaders tend to be less empathetic the higher in the organization they go, and are more likely to be interested in what you can accomplish than sympathetic about the challenges you’re facing. Many decision-makers are uncomfortable with emotional content, and can react badly if they feel they’re being embroiled in drama or are being emotionally blackmailed. It’s typically more convincing to use analytical or evidence-based appeals than descriptions of personal impact.

Liz Kislik helps organizations solve their thorniest problems. She has taught at NYU and Hofstra University.

E2 Monday, October 22, 2018 • Editor: Efleda P. Campos

Education BusinessMirror

Sidhi mentorship program launched By Rizal Raoul S. Reyes @brownindio

Contributor

HE Integrating Science in the Philippines (Isip), in partnership with New York-based researcher and New York Academy of Sciences Ambassador Florence Pauline Basubas, officially launched the Science-Integrated Direction for High School Investigators (Sidhi) mentorship program. The program aims to connect Filipino high-school students whether as a school requirement or a personal endeavor, with Filipino scientists and experts working in fields that could help them accelerate their work and expose them to more opportunities. Sidhi concluded the application

period for mentees on July 15 and the organizers are currently processing the applications. The team aims to release the official list of participants in August. Basubas and Sidhi cofounder Pau Joquino leveraged technology to develop a simple program. The Sidhi teams designed to assemble

a group of experts and scientists from several fields and at the same time gather students interested in working on a science project or already working on one, and then connect these two groups together online. Sidhi managed to get 36 mentors and experts from all over the world for the program. With the help of social-media and network effects, they then successfully gathered more than 60 applications from students interested in participating in the program. After the submission of the projects, the organizers will be processing each one based on the project proposal or fields of interest the applicant submitted, and then consult the mentors before coming up with a final list of participants and mentor pairings. Beyond the success of the program, Sidhi said the other important aspect is the relationship between mentor and mentee/s. “The impact of this goes beyond implementing a science project—it can potentially extend to pursuing

a career or taking on opportunities like science fairs and competitions in the country and abroad,” Basubas said. This takes time and regular communication, so the Sidhi team will be monitoring the progress of the mentor and their mentees on a bimonthly basis. By focusing on the human-centered aspect of these opportunities, Basubas said Sidhi hopes to reshape the experience of students as they grow up with science, whether they do take on a science-related career in the future. Being its initial activity, Basubas said Sidhi expects a lot of challenges as they implement the program. Nevertheless, Basubas remains optimistic on how mentorship can help the participating students and even scientists can grow. This project comes at a time when the latest figures from the Department of Science Technology (DOST) estimate an increase in the number of science and technology workers moving overseas from 9,877 in 1998 to 24,502 in 2009. With

more and more scientists studying and working abroad, Sidhi looks to connect them with students back home, enabling these scientists to help expose the future generation to the possibilities of science and technology and how these can be applied in the Philippine context. By creating more connections among scientists and students, Sidhi expects that this will have a multiplier effect on the interest around science as more than just a siloed career path or a subject in school—that it will be purposefully and effectively employed for nation-building. In 2013 the United Nations Educational, Scientific and Cultural Organization reported the Philippines had only 187.7 scientists per million people, one of the lowest densities of researchers in the region. The signing of Republic Act 11035 or the balik scientist law on June 16 this year by President Duterte allows the DOST to give more incentives for Filipino researchers, engineers, innovators and technologists to return to the country.

Torre Lorenzo Student Residences designed to support social learning

HE way that college students learn has changed over the last few decades. Having grown up using computers and networked devices, today’s generation of college students are social and team-oriented, born multitaskers and have a hands-on approach to building anything given easy access to online reference material. This has drastically changed the way they learn so that what largely took place in the classroom supplemented by homework has now expanded to social learning in different learning spaces—from the classroom to collaboration spaces to the Internet. Learning has transcended beyond the classroom and has truly become a social activity that occurs in many places. This concept is supported by Dr. Manuel Sapitula, associate professor in the University of the Philippines in Sociology: “Philippine higher education is now moving from a heavily academic learning system to a lifelong learning educational model, where students are trained to both specialize in their respective fields and learn essential life skills essential for basic interaction with peers, research skills and critical judgment.” He said in the current curricula, professors and textbooks are no longer the only source of knowledge. College students are now trained to seek information outside the classroom—on the Internet, on-ground exposure, or one-on-one interviews. Part of lifelong learning is team learning, where students are encouraged to collaborate with others. This shift in the way college students learn impacts the design of learning spaces which must offer spaces for individual study and collaborative learning. Torre Lorenzo Development Corp. (TLDC) CEO Tomas Lorenzo recognized this shift over a decade ago and incorporated this into the design of his hugely successful TLDC Premium

University Residences built adjacent to Metro Manila’s largest universities (Torre Lorenzo 1 and 2; Torre Lorenzo near DLSU; Torre Central near UST; and rising in Manila, Torre Lorenzo Malate near UP and Philippine General Hospital, 3Torre Lorenzo near the DLSU Benilde and one soon to rise in the Katipunan area). “The intersection where people and place can come together is where possibilities for learning best take place,” Lorenzo said. “We realized early on that effective learning spaces for students are not only those that are functional, but are comfortable, attractive and flexible. This is brought to life in part by the design and overall spirit of our university residences.” TLDC pioneered the concept of premium student residences in the country in keeping with their vision to “elevate lifestyle solutions today for tomorrow’s communities.” Their studies surfaces college students’ then-emerging physical, social and emotional needs for optimum learning. As a result, at each of TLDC’s student developments, attention to design allows for study time and collaboration. Wi-fi-enabled study rooms, soundproof study areas and collaboration spaces coexist with living and social areas, such as multipurpose roof decks, lounge areas and cafés and restaurants on the ground floor which all support the social nature of learning. Students come home to apartments with modern kitchens, private bathrooms and inspiring living spaces. Other recreational facilities such as gyms, pools, roofdecks and basketball courts are available for residents for their school-life balance. A 24/7 security system affords peace of mind not just for the building’s residents but for the parents. Residents can also expect the support of a dedicated property management team that is responsive to their property concerns.

3 HISTORICAL CHILDREN’S BOOKS LAUNCHED Bookmark Inc. launched on October 17 three historical books for children at the Vargas Museum in the University of the Philippines in Diliman. Present during the book launch are (from left): Luz B. Maranan, who wrote Lakay Billy, Defender of Indigenous People, illustrated by Duday Maranan; Tippy O. Kintanar, who wrote Mang Adong’s Jeepney, and illustrated by Jose Maria Tristan V. Yuvienco (not in photo); and Nina Martinez, artist for At the School Gate written by Sandra Nicole Roldan. NONOY LACZA

Smart School-in-a-Bag reaches 7 remote schools in Northern Cebu

EDICATED teachers and school heads of seven different island schools from Bantayan and Daanbantayan, Cebu, were emotional as they were provided with Smart School-in-a-Bag backpacks during a turnover ceremony held on September 29 and 30. Representatives from Hilantagaan Elementary School, Mambacayao Elementary School, Hilontongan Integrated School, Lipayran Elementar y School, Kinatarcan Elementary School, Carnaza Elementary School and Guimbitayan Elementary School each received the digital learning package on behalf of their institution. Every School-in-a-Bag backpack contains a laptop, tablets, LED TV, pocket Wi-Fi with starter load and curriculum-based digital educational content. Aside from the primary contents of the portable digital classroom, solar panels are also given to

off-grid schools who do not have access to electricity. The Rotary Club of Cebu, as one of the partners for the School-in-a-Bag project in Bantayan and Daanbantayan, also added a printer for each package. Remedios Beloria of Carnaza Elementary School was very grateful despite traveling for almost three hours from the northernmost tip of the Visayan province to attend the turnover ceremony in Daanbantayan. The school head said that they lack both hardware and Internet resources to access technology, as with most schools situated in the remote islands off the coast of Cebu. “We do not have access to Internet, we do not have a computer lab, and only the teachers have laptops,” Beloria said. The educator expressed this is why Smart’s School-in-a-Bag will allow students to experience

more hands-on learning that will improve the quality of education. “Unlike before when holding these gadgets is just a dream for the students, they can now finally have a hands-on experience, which will greatly help them,” Beloria added. Analou Torrefiel of Lipayran Elementary School was unable to hold back her tears after the turnover ceremony. The Grade 3 teacher admitted to facing challenges as an educator, such as absenteeism and lack of retention among her young students. Unlike other remote schools, the area where Lipayran Elementary School is located has stable Internet connection. However, the school does not have the proper equipment to maximize the Internet for educational purposes. Students would rather spend time in Internet cafés and play games, easily forgetting their school lessons the next day.

SEC-accredited: Seminar on Corporate Governance for Board Directors

AVING effective board directors translates to good corporate governance and better business performance. To help board directors and key officers of public and publicly listed firms align themselves with global standard on effective governance and comply with the Securities and Exchange Commission (SEC)-mandated requirement to attend a corporate governance program to be eligible for election or reelection in the board or assume key positions in management, the Center for Global Best Practices (CGBP) will host a training entitled “Corporate Governance: Board Effectiveness Best Practices” to be held on November 9 at the Manila Marriott Hotel, Pasay City.

This one-day special corporate governance program is designed to address two important issues: One To provide capacity building for board directors by presenting to them the global best practices in board effectiveness drawn from the most updated global research of the largest accounting firm in the world— PriceWaterhouse Coopers / Isla Lipana to be presented by former PWC Chairman Judith V. Lopez. She will also share her valuable insights and experiences being a board director of many companies across various industries; (2) To help all board directors of public and publicly listed companies comply with SECmandated requirement for them to attend a corporate governance training yearly—for

their eligibility of election or reelection in the board of a corporation. This program will also feature Jonathan Ravelas, who is a chief market strategist of the largest commercial bank in the Philippines—BDO. He will handle the foundational topics on basic corporate governance, updates on new regulations and a 30-minute economic briefing with relevance to board directors. He is often quoted and appears on Asian Wall Street Journal, Bloomberg, BBC, ANC Channel, BusinessWorld and Philippine Daily Inquirer on valuable market insights that attending board directors could greatly benefit from. This program is designed to provide a new perspective on strategy and implementation,

risk management, corporate ethics, monitoring company performance, management evaluation and succession, board dynamics and many more. This learning initiative will also cover the aspects of Financial Reporting—defining its framework, the roles of board management, CFOs and controllers in its preparation, analysis and interpretation. Required topics of SEC and a glimpse of the current Asean Scorecard will also be discussed. Registration is open to the general public. Public officials and government employees attending training programs like this are exempted from the P2,000 limit set by the COA based on the DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to

avail themselves of the early-payment savings and group discounts for 3 or more registrants. Seats are limited and preregistration is required. Check www.cgbp.org, for details and a complete list of best practices programs, including PPP Certification Course, Masterclass on Writing Minutes of Meetings, Write Right for Positive Results, Refresher Course on Business English, Best Practices in Corporate Housekeeping, Best Practices in Project Feasibility Study and Analysis, Best Practices in Managing Financial Performance and many more. You may also call landlines in Manila (+63 2) 842-7148/ 59 and (+63 2) 556-8968/ 69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07, or Legazpi City (+63 52) 736-0148.

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DHMC offers lifestyle courses for culinary enthusiasts

USIT Hospitality Management College (DHMC), the first institution of its kind that provides a unique learning experience beyond education, will be offering lifestyle courses for culinary aficionados. DHMC will hold a series of its short programs from October to December. Classes such as Gin Appreciation, Private Wine and Cheese Sessions, Basic Pastry, Intro to Coffee and Master Jamon Carving with Sherry Wine Pairing, among others, will be offered for a fee at DHMC’s temporary campus at Dusit Thani, Makati. These short courses will be led by top industry leaders and DHMC’s esteemed culinary arts director and Master Chef of France, Chef Cyrille Soenen. “Our classes are open to everyone, regardless if you’re a beginner or a cook by profession. All it takes to participate is a curious mind and a hint of fascination toward fine food and beverage,” said Soenen. “We thought of having these short courses because we want to bring these ‘basic disciplines’ closer to those who are not culinary experts by profession. We want everyone to know that anyone, including them, can do it, too.” There is a two-hour wine and cheese tasting session, which will be facilitated by a professional oenologist—an expert in winemaking. Attendees can expect to sample four distinct wine varietals, accompanied by three types of French cheese in an intimate setting. They will learn about the different types of grapes used in the winemaking process and harness sight, smell and taste to experience the best out of the complexities of each palate. A Gin Appreciation Workshop is comprised of a two-hour session, which focuses on fine tuning the senses to savor the different kinds of gin. Here, they will learn their origins, production and how to distinguish and appreciate the subtlest differences among five botanically infused gin varieties from Belgium, Italy, London, England and Iceland along with hors d’oeuvres. Master Jamon Carving Class with Sherry Wine Pairing is a three-hour session, which will take ham lovers into the world of jamón, where they will explore the regional varieties of the Spanish artisanal delicacy. Attendees will come to understand one of Spain’s proudest and most respected culinary traditions through the expertise and guidance of two of Dusit’s master carvers. To elevate this experience, the session will be paired with some carefully selected sherry wines that will best complement the variety of hams. This short course will be held on two separate days with 12 slots each. Intro to Coffee with Chit Juan and Ros Juan will be held in partnership with the Philippine Coffee Board. This course walks you through the world history of coffee, with an overview of the coffee journey from seed to cup. The course tackles different brewing methods, with a primer on espresso and espresso-based drinks. A new addition tackles trendy alternative brewing methods like Aeropress, hand drip and Chemex, among others. News trends are also discussed for those who wish to open cafés or just to satisfy one’s thirst for coffee knowledge.

Create a Thanksgiving Feast with Master Chef Soenen

TAKE some of the stress out the holiday season with a delectable four-course menu expertly prepared by Chef Cyrille Soenen of Maitres Cuisinier de France that is sure to please. With his expert guidance, participants will learn to create a full Thanksgiving meal that will put your new culinary skills to use at your own home for a variety of holidays and special occasions beyond Thanksgiving itself. The participants of the short courses will be receiving certificates from DHMC signed by Master Chef of France Chef Cyrille Soenen.

Marketing BusinessMirror

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Editor: Efleda P. Campos • Monday, October 22, 2018 E3

How can I create a crisis plan? D

serious reputational repercussions for your brand, you can get out in front of it much quicker if you have a strategy in place,” Lee said. These include drafting statements ahead of time to state that you’re aware of the situation, and you’ll release more information as this becomes available.

EAR PR Matters, I learned a lot from your past two columns about dealing with crises. Being new in the business, I have come to realize that crisis management is essential in public relations. I have also come to realize that planning is essential in crisis management. Do you have any suggestions on how we can create a PR plan?

Checklists, templates, and contact information

Sincerely, Leah E.

By Millie F. Dizon

Risk mapping and identification

LEE suggested that PR practitioners “scour the Internet, your company web site, and all social-media channels for potential issues concerning your brand.” She added that it can be helpful to map these by tier, probability of occurrence and severity of reputation risk should they occur.

Risk definition and issue evaluation framework

LEE said it is best to remember that every issue will be a major crisis, and sometimes activating a full-scale crisis response can create an issue out of a situation that could have been handled discreetly. In short, treat

CRYPTOCURRENCY TO REAL GOLD: THE MIDAS TOUCH GOLD, NOW IN PHL THROUGH COINZIP.CO

IMAGINE having digital currency which you can use to buy new kicks, pay a freelancer for a commissioned work, trade and invest, or when you want it, convert to gold. That’s The Midas Touch Gold in a nutshell. TMTG is a Korean cryptocurrency token backed by real gold reserves in Korea. It’s now in collaboration with Coinzip.co, an easy-to-use digital currency exchange, available here since September 2018. During the launching of the collaboration in October, CEO of Digital Gold Exchange Nathan Ryu explained, “We at TMTG thought deeply about how virtual money could bring value to the everyday lives of many people.” The goal is simple: Establish an ecosystem with a virtual currency that has a value that can be directly traded for actual goods. TMTG is a utility token primarily meant to purchase digital gold, which is pegged with actual gold. Thus, it is associated with real assets.

Digital and tangible assets

ON Coinzip.co, a global virtual money exchange, major coins such as Bitcoin, Ethereum, Litecoin and now TMTG can be traded. Coinzip.

co Representative Dennis Orellana explains the process and we break it down for you: n Have Bitcoin. You can purchase your Bitcoins online (Ex: Paylance) or get them over-the-counter (Ex: Moneybees). n Go to Coinzip.co, where you can deposit your Bitcoin in the trading platform. n Once in, you can purchase your TMTG. n Once you have your TMTG, you can get Midas Gold Token (MDG) through Digital Gold Exchange (DGE) 1 MDG is equivalent to 1 gram of real gold. If you decide to convert your digital currency, you can have it delivered to you wherever you are in the world. Now, that is the goal of TMTG and Coinzip.co—people having tangible assets. “TMTG aims for a hyperconnected society and has worked hard to construct an ecosystem that achieves effective values of real assets through decentralized block chain,” Ryu states. Orellana elaborates, “The inherent value of cryptocurrency is the blockchain. In turn, with TMTG and MDG, you have partnered a utility token with a commodity token.... Your digital currency has its inherent value tied to actual gold. So you don’t have to worry that at any turn, your cryptocurrency is gone.”

Cryptocurrency in the Philippines THE Philippines is the fifth market where TMTG is present, following two exchanges each in Hong

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PR Matters

Dear Leah, Thank you for your interest in our column. It is very heartening to know that my colleagues and I can be of some help to you. Your question is very timely, because in an article in PR News, Hayley Jennings said there were more than 800,000 crises reported in the media globally in 2017 and that number continues to grow. She added, “It’s more important than ever for brands to think about crisis not in terms of if one will happen, but when.” In the same article, “7 Essential Elements of a Crisis Plan,” Julia Lee, vice president of crisis and reputation risk at Edelman, said the rise in crisis in recent years can be traced to three specific factors: more complex and greater scale operations, faster pace of business and higher stakeholder expectations. Lee also explained that responding to a crisis is really about preparing ahead of time, and making sure you have a robust plan in place so that you can handle anything that comes your way. Here are the seven features of a foolproof crisis plan:

FINALLY, Lee said anything you can do beforehand to decrease the risk of scrambling for information when a crisis is under way will save a lot of headaches during an already stressful time. Prepare checklists of steps of the plan and edit pre-communication templates. After all, a good crisis response is a swift one.

every issue differently. Don’t over react, and not every issue is major.

Decision matrix and escalation protocol

THIS is very applicable to larger companies with worldwide networks. Lee said there should be a clear protocol in place for when to invoke a global-crisis response. This can also be useful for smaller companies that are wondering when to escalate an issue to leadership or an outside agency or handle in-house.

Clearly defined roles and responsibilities

“NOTHING can derail a crisis faster than a member of the team not doing their job,” Lee said. “It’s crucial to clarify roles and responsibilities of everyone on the crisis team before a crisis hits so that the troops can be mobilized as soon as possible to mitigate the situation.

Stakeholder identification and analysis

LEE said it is good to identify who are the people or groups—including the public and media—related to your company who will need information Kong and Singapore. TMTG is also scheduled for launching in Japan, Switzerland and the United States. Ryu and Orellana believe the country is very open to financial innovations, thus spelling promise for cryptocurrency. In fact, the adoption of cryptocurrency has been growing rapidly over the past two years. Data from the Bangko Sentral ng Pilipinas show that trading volume between cryptocurrencies and the Philippine peso has been inching toward the $40-million mark in the first quarter of 2018. But, Orellana says, information dissemination is still a must. “Investments are always a gain of knowledge. If the public or investor is not informed, the tendency is they will lose their hard-earned money. The biggest thrust of the DGE is to make sure that knowledge is part of their marketing thrust. So all their users will know what they are getting themselves into.”

Digital currency in the creative industry

FILIPINO freelancers can take advantage of this cryptocurrency. TMTG can also be used as payment for services anywhere in the world. “Crypo can be applied to many things. One of them is payment. Everything has gone digital. You can use TMTG to pay freelancers. Because it will only take you a click of a button to transfer some value of money to the person who provided you service,” Orellana tells adobo magazine.

about a crisis, and who should receive the disseminated information first. These questions should be answered as part of your plan.

Detailed plans and strategies for handling high priority scenarios and risks

“WHEN a crisis hits that could have

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

Perspective BusinessMirror

Monday, October 22, 2018

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DLSU RANKS IN THE TOP THREE PERCENT OF HIGHER EDUCATION INSTITUTIONS WORLDWIDE

By Leony R. Garcia

ENTION Stanford University, Massachusetts Institute of Technology, University of Oxford, Harvard University, University of Cambridge and University of California. Then you have the world’s top universities. In today’s highly globalized world, it is no surprise for top students from all over the globe to choose to study in any of these higher education institutions. Now the good for the Philippines. According to De La Salle University (DLSU) Vice Chancellor for Research and Innovation Dr. Raymond Tan, the university is a school of choice among foreign students in the country. But the recent news of DLSU-Manila securing a spot in the 2019 World University Rankings by the Times Higher Education (THE) is something the university can really be proud of. After all, DLSU have been singled out as the lone private university in the Philippines which made it. The formal announcement was held in the THE Academic World Summit in the Stephen Riady Centre, National University of Singapore, Singapore on September 26. According to Dr. Tan, the Times Higher Education World University Rankings is regarded as one of the most

influential university rankings in the world. The Times Higher Education is a leading provider of higher education data for researchintensive institutions globally. On its 15th year, the THE

DR. BOMBIT LARGOZA

DR. RAYMOND TAN

Rankings list the world’s most outstanding researchintensive universities, requiring a threshold number of Scopus publications, combined with data on teaching, innovation, international outlook, and reputation. DLSU makes its inaugural appearance in the 801–1000 bracket, placing it in the top three percent of higher education institutions worldwide. Dr. Gerardo Largoza, director of DLSU’s Quality Assurance Office (QAO) explained how the figure three percent came to be. He said, it's based on estimates of the total number of HEIs in the world; anywhere from 22,000 to 26,000. “Getting into THE’s list of the world’s 1,258 best research universities suggests we are a legitimate destination for a share of the more than four million internationally mobile students seeking overseas degrees this year. It provides more momentum to our efforts to internationalize our students and staff, our curricula and institutional outlook,” he said. For Tan, THE rankings is an important milestone in the educational institution’s quest to become a university of international standing. “It is also a testament to how well our faculty has responded to the challenge of creating a modern, innovationdriven DLSU for our students and alumni. We now find ourselves in a better position to contribute to Philippine development through the creation of human and knowledge capital,” he said. Likewise, Largoza considers it as further validation of the institutional commitment to research and innovation at DLSU.

“It’s given us even more impetus to improve and contribute to Philippine development. It’s an incredible achievement for an institution dependent on tuition revenue, and which entered as a single campus (quite a number are ranked in THE as university systems). I was a kid when the late Br. Andrew Gonzalez spoke at my high school about his dream of DLSU as a research university. We knew it was coming, but now that it’s here, I’m still pinching myself,” he said. “Moreover, I reckon the THE rankings help satisfy our vision to be a “leading research university”. The same Vision keeps us grounded though, as the THE Rankings don’t provide much in the way of validating DLSU as a “leading learnercentered university”, or one that “bridges faith and scholarship, is attuned to a sustainable Earth,” he added. DLSU takes pride in being the sole private university in the Philippines to earn a spot in this ranking, with its continued commitment to serve as a resource of innovative and sustainable solutions to global challenges through higher education and research. This is in line with the University’s commitment to be at the forefront of nation building and the preservation of the credibility of Philippine tertiary education in an integrated ASEAN. Tan believes DLSU made it to THE rankings because of the university’s strength on three factors: teaching, research and globalization. He is most happy about it, especially in the field of research. He said, he was part of DLSU’s Competitiveness and Rankings Committee, strengthening it three years ago.