BusinessMirror October 23, 2018

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

BusinessMirror A broader look at today’s business

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Tuesday, October 23, 2018 Vol. 14 No. 13

PHL ‘seriously’ eyeing nuke energy–DOE chief

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By Recto Mercene

@rectomercene

FTER nearly 40 years, the government is now seriously considering the possibility of allowing the construction of nuclear power plants in the country.

“The Department of Energy [DOE] is studying all sources of energy to address the energy security of the future. We’re pushing nuclear and last year finished the

draft on national policy on nuclear energy,” Energy Secretary Alfonso G. Cusi said on Monday at the sidelines of the Kapihan media forum at the Manila Hotel.

“We are pushing to have nuclear energy in the country because we want industry to flourish and one of the considerations the manufacturers are looking at is the cost of energy and labor.”—Cusi

“We are pushing to have nuclear energy in the country because we want industry to flourish and one of the considerations the manufacturers are looking at is the cost of

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@alyasjah

HE Philippine Economic Zone Authority (Peza) on Monday conceded it will miss its investment target this year due to uncertainties brought about by the impending rationalization of tax incentives.

However, Peza looks to minimize the damage with the resurgence of investment pledges in the information technology and business-process management (ITBPM) industry. In spite of uncertainties, commitments to the industry from January to September expanded 8.82 percent to P12.39 billion, from P11.38 billion during the same period last year.

Data from Peza also showed that investments in manufacturing

plunged 46.17 percent to P24.26 billion, from P45.08 billion last year. Investment pledges in economic zone development went down 65.31 percent to P42.91 billion, from P123.71 billion in the previous year.

Other industries also suffered a nosedive in registrations, resulting in a 55.28-percent contraction in commitments to the Peza. January-to-September investments now stand at P87.84 billion from P196.457 billion during the same period last year.

Registrations, in turn, slowed 17.69 percent to 362 projects, from 438 projects last year. Direct employment generated as of August was at 1.45 million, up by 6.79 percent from the 1.36 million jobs created during the same stretch in 2017.

See “Peza,” A4

Stick to fundamentals and we will be okay Manny B. Villar

THE ENTREPRENEUR

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HE turbulent reaction of the global financial markets in the second week of October is a reminder that the Philippine economy will not enjoy a smooth ride, as we want it to be. It will be a bumpy ride, but as long as we keep our economic fundamentals intact and avoid radical countermeasures, the Philippines, I believe, will still register a respectable economic growth and ride out the storm.

Continued on A6

See “Nuke energy,” A2

DOF presents 2019 budget of P56.86B

By Rea Cu

@ReaCuBM

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and affordable [for example].”

This can be done, at least in the short term, by extending cash transfers, according to University of Asia and the Pacific School of Economics Dean Cid Terosa. But in the long run, the government must find a way to “stabilize economic growth.”

Terosa said this would entail increasing the quantity and quality of goods and services, especially those directed to the poor, that are provided by the government.

HE Department of Finance (DOF) has presented to the Senate its 2019 proposed budget of P56.86 billion under the cash-based scheme, which includes support for its attached agencies.

Under the new cash-based budget system, the DOF allocated P36.60 billion for government-owned and -controlled corporations. It also includes automatic appropriations of P1.37 billion for the department’s retirement and life insurance premiums, and special accounts in the General Fund for several programs of its attached agencies, namely, the Bureau of Customs (BOC) and Insurance Commission (IC), and unprogrammed appropriations of P210 million for the refund of the service development fee for the Philippines’s Nampedai property in Japan.

“This administration and the DOF are committed to maintaining fiscal stability, achieving revenue targets and driving strong economic growth—all for the benefit of the Filipino people. We hope this body will enable us to deliver on this commitment by approving this department’s proposed 2019 budget,” said Finance Secretary Carlos G. Dominguez III. Dominguez told the Senate Committee on Finance that, aside from tax reform, the DOF has also been engaged in pushing further reforms to reduce red tape and curb corruption, broaden the base of the financial

See “Poorest Pinoys,” A2

See “DOF,” A2

FLOODING THE MARKET Workers at a rice warehouse in Manila’s Divisoria area carry different types of milled rice on Monday, ahead of the scheduled meeting of the National Food Authority Council that is fast-tracking the importation of rice in order to boost supply and bring down prices of the staple. Reports said that prices of rice varieties in Metro Manila markets have started to decline by a range of P2 to P5 per kilogram, as supply increased amid the harvest season. NONIE REYES

Green financing gaining Poorest Pinoys forced to spend more for food ground in PHL banking

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OCAL banks are looking for more opportunities to channel their loanable funds to projects that could help mitigate the negative effects of climate change.

In a statement on Monday, the Bankers Association of the Philippines (BAP) said it recently convened with the Asean Bankers Association (ABA), the Association of Banks in Singapore (ABS) and the World Wildlife Fund (WWF) to discuss the role

By Cai U. Ordinario

of financial institutions in pushing for green financing.

Green financing is a form of investment specifically dedicated to sustainable projects that could help mitigate the effects of climate change.

According to BAP, Asia still lacks readiness and resiliency while only a handful of countries have a firm environmental, social and governance (ESG) standards.

See “PHL banking,” A2

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Peza: 10% investment pledges hike not doable

By Elijah Felice E. Rosales

2017 EJAP JOURNALISM AWARDS

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@cuo_bm

HE spike in food prices hit poorest Filipinos the hardest as the increase in their spending for consumer products in August rose to its highest level in nearly 10 years, according to the Philippine Statistics Authority (PSA).

Based on data from the Consu mer P r ice Inde x (CPI ) for the Bottom 30 percent Income Households, the PSA said infla-

tion for the poorest increased to 8 percent in August.

This was the highest since April 2009, when inflation reached 8.7 percent. In July inflation for the poorest was at 7.3 percent, higher than the average August inflation rate nationwide of 6.7 percent.

“W hat [the government] is doing now must be intensified,” Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang told the BusinessMirror. “[The government can start by making] food available

n JAPAN 0.4785 n UK 70.4401 n HK 6.8712 n CHINA 7.7757 n SINGAPORE 39.1271 n AUSTRALIA 38.3288 n EU 62.0567 n SAUDI ARABIA 14.3606

Source: BSP (22 October 2018 )

News

BusinessMirror

A2 Tuesday, October 23, 2018

Intervene in wage review, TUCP asks Duterte

By Samuel P. Medenilla

(Ecop), Vicente Leogardo Jr. and Alberto R. Quimpo. The last two remaining members of the RTWPB-NCR are German N. Pascua Jr. of the Associated Labor Unions (ALU) and Angelita D. Señorin of TUCP. He blamed the miscalculation of the government economic mangers for the rising inflation, which reached 6.7 percent last month. “The President must oversee these agencies after they have failed to make the right projections on inflation and oil prices in the global market,” Corral said.

To address this, Corral said he is pushing for the creation of a technical working group (TWG) to augment the RTWPB-NCR in not only deciding on the new wage hike in Metro Manila but also arresting its growing inflation rate.

“We have very real fears that the NCR Regional Wage Boards were just being polite, perfunctory and routinary and just wanted to get it over it,” Corral said.

Aside from having the members of the RTWPB-NCR, TUCP said the TWG should also include more representatives from the labor sector as well as the Bangko Sentral ng Pilipinas (BSP), Department of Agriculture (DA) and the Department

of Energy (DOE).

“We are calling for the President to lead.

He has to involve himself in wage setting because it might be mishandled and will create a backlash on him,” ALU-TUCP spokesman Alan Tanjusay said.

TUCP issued the statement after the DTI presented the price changes in the basket of goods in Metro Manila.

The basket of goods includes products like canned sardines, condensed milk, detergent, soy sauce, instant noodles and candles, which registered increased prices in previous months.

However, the presentation did not include energy and power, rice and fish which, TUCP said, were cited the Philippine Statistics Authority as the top three main contributors to inflation on September.

“Let us look at the elephant in the room.

The big-ticket items that are not under DTI like power and crude,” Corral said.

“It has to be done not just through formal consultations but through a technical working group,” he added.

More than suspending the excise tax for oil, he said the government should seriously consider providing for an additional Cost of Living Allowance (Cola) or subsidy to minimum-wage earners in the NCR to allow them to cope with soaring prices of basic goods and services.

“An immediate Cola will not be computed with the 13th-month pay so it will not be inflationary,” Corral said.

Dione said they will consider the proposals of TUCP when the RTWPB-NCR deliberates on Friday after their scheduled public hearing.

“We cannot commit any exact date [for the completion of the deliberation], but we will do our very best to finish as soon as possible,” Dione said.

energy and labor.” He conceded that the Philippines has one of the highest costs of energy in Asia—ranked 16th-most expensive of 44 countries surveyed in a 2016 study by Meralco—but assured the public the Duterte administration is seriously thinking of ways to bring down the cost of electricity.

“Aside from affordability, we are also looking at the quality of energy,” Cusi added, explaining that frequent fluctuations lead to the breakdown of machinery and equipment that rely on electricity, a matter that has discouraged investors.

Cusi observed that the only reliable and

affordable source of power is nuclear, and the policy option is “not necessarily to revive the Bataan Nuclear Power Plant [BNPP],” but consider other places in the archipelago.

In 1976, then-President Ferdinand E. Marcos ordered the building of a $2.3-billion nuclear power plant in Morong, Bataan, as the then-dictator’s bid to diversify the Philippines’s energy source. The plant was completed in 1984, but failed to produce a single watt of electricity due to strong public opposition.

Critics pointed out that the BNPP sits on an earthquake-prone fault, and said the loan-funded plant was overpriced.

It was mothballed after Marcos was ousted in 1986 and in the aftermath of the Chernobyl nuclear disaster.

“There’s too many negatives implanted

in our mind—especially the BNPP, which we were told is substandard, sitting on an earthquake fault and would collapse—and other reasons [were given] simply to stop it from operating,” Cusi said.

He added that after 40 years, “all of our fears have been addressed. We realized that what we were told is not true, but [already] too many opportunities have been lost.”

Cusi said the apprehensions about the security of nuclear power plants have already been raised in the past, and, he stressed, it is time for the Philippines to learn from its neighbors.

“The Duterte administration is forwarding the idea to use nuclear power.

Nuclear technology has advanced so much we should ride along with this new technology,” the energy chief said.

DOF. . .

P18.68 billion based on the obligation-based scheme is 3 percent lower than the current year’s P19.31 billion.

tax administration, while the BOC expanded collections by 35 percent. Non-tax revenues went up by 35 percent compared to the previous year’s level. According to the DOF, government spending outpaced revenue growth in January to August, climbing to P2.2 trillion, 23 percent higher than last year’s record.

As a result, the cumulative fiscal deficit rose to P282 billion, a 60-percent spike compared to last year’s deficit level of P176.2 billion, as the government continued to finance its infrastructure program meant to boost economic growth.

The finance chief said that the Development Budget Coordination Committee (DBCC) revised the fiscal program for 2018, lowering the revenue target by P26.6 billion to account for the delay in the implementation of the electronic receipts and fuel marking programs.

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@sam_medenilla

HE country’s largest labor group on Monday called on President Duterte to finally intervene in the ongoing wage review in Metro Manila after expressing doubts on the capability of the regional wage board to issue a “significant” hike.

During its labor consultations in Pasay City, the Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) was criticized by the Trade Union Congress of the Philippines (TUCP) for its alleged limited review of the economic indicators within its jurisdiction for the adjustment of its wage rate.

“We fear that what we encountered today are wage board members who don’t want to take real responsibility and make the hard decisions for fairness and decency,” TUCP Vice President Louie Corral said.

The labor leader, however, fell short of naming who he was referring to among the seven members of the RTWPB-NCR. TUCP is asking for a P334 wage hike for the estimated 4 million minimum-wage earners in NCR. The RTWPB-NCR is chaired by Ana C. Dione with members from the government: National Economic Development Authority (Neda) representative Reynaldo R. Cancio; and Department of Trade and Industry (DTI) representative Analecto C. Blanco Jr. It also has two representatives from the Employers Confederation of the Philippines

Nuke energy. . .

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system, facilitate new and disruptive technologies, and negotiate Official Development Assistance for the “Build, Build, Build” (BBB) infrastructure program.

For 2019, the budget of the DOF and its attached agencies are as follows: Bureau of Internal Revenue (BIR), P8.1 billion; Bureau of the Treasury, P6.1 billion; BOC, P2.6 billion; Office of the Secretary, P843.3 million; Securities and Exchange Commission, P618.42 million; Bureau of Local Government Finance, P269 million; Privatization Management Office, P83 million; National Tax Research Center, P66.11 million; and the Central Board of Assessment Appeals, P20.6 million.

The DOF-proposed budget for 2019 of

Poorest Pinoys. . .

THE Tax Reform for Acceleration and Inclusion (TRAIN) law, which was implemented at the start of 2018, contributed P26.6 billion in revenues in the January-to-July period. Revenue loss from personal income-tax reduction reached P70.8 billion.

From January to August of this year, total revenue collections reached P1.91 trillion, 19 percent higher than what the government collected last year. The amount makes up 67 percent of the total full year collection program.

The DOF said the 13.5-percent increase in the BIR’s collection is mainly due to the TRAIN law and “continued improvements” in

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“[This high inflation] will raise the quantity of miserable individuals and families, as well as raise the intensity of misery,” Terosa told the BusinessMirror.

High prices

TRAIN law

THE poorest Filipinos are usually the ones who bear the brunt of high prices, especially when it comes to food. University of the Philippines School of Statistics Dean Dennis Mapa earlier said that the poorest Filipinos are very sensitive to food prices.

Mapa said this can be explained by the difference in inflation felt by all households and the inflation experienced by the bottom 30 percent, or the poorest Filipinos.

He explained that the weight of food in the basket of goods used for the computation of the inflation experienced by the poorest 30 percent is 70 percent against 39 percent for all the households.

“Relative to the annual growth rates in the previous month, higher annual markups were also observed in the indices of all the food groups in August 2018, except for the index of corn, which registered a slower annual hike of 3 percent this month,” the PSA said.

The annual rate of the food index alone at the country level likewise picked up by 7.8 percent in August 2018. Its annual rate was pegged at 6.9 percent in the previous month

and 3 percent during the same month in 2017.

Among the food items, those that posted the highest increases were fruits and vegetables, fish and rice at 14.1 percent, 11.3 percent and 7.3 percent, respectively.

The poorest Filipinos in Cagayan Valley, Western Visayas and Ilocos region experienced the highest increases in inflation rate at 11 percent, 10.1 percent and 9.3 percent, respectively.

In August, fruits and vegetables were the most expensive for Filipinos living in Cagayan Valley as average prices rose by 32.7 percent; Ilocos Region, 24.6 percent; and Calabarzon, 22.2 percent.

The poorest in Western Visayas paid more for fish as the average price rose by 20.3 percent; Central Visayas, 16 percent; and Mimaropa, 13.3 percent.

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Cabuyao on track to complete infrastructure projects–mayor

CABUYAO Mayor Rommel Gecolea explains his plans and key projects for his city to a delegation from the Eternal Gardens Group that visited him recently. ROY DOMINGO

By Roderick L. Abad

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Contributor

ABU YAO, Laguna—This city’s massive infrastructure projects, at nearly P1 billion, are on track for completion starting next month, according to Mayor Rommel A. Gecolea, who said this was the commitment he made prior to his election two years ago.

In a recent interview at the City Hall, he said in a mix of Filipino and English that the P40-million extension of the old Ospital ng Cabuyao is expected to be completed in November 2018.

Set up in 1994, this pioneering public health-care institution will be expanded for the first time after 24 years, with 50 new beds added to its inventory of 45.

The first phase of the Cabuyao City Hospital (CCH), on the other hand, is now “60-percent” done and is projected to be completed by December 2018.

This second-level health-care institution boasts of 150 beds, an intensive care unit, neonatal ICU, tertiary clinical laboratory, high-risk pregnancy unit, service department, x-ray and mobile unit.

Cabuyao is setting a record in Laguna’s history for this big-ticket hospital project initiated by the mayor himself.

“My budget is P1.7 billion every year for all the operations of our local government,” Gecolea said of the annual internal revenue allotment they receive from the national government, which is lower than other component cities of the province.

But, he added, “we are the only city here to build the biggest-funded hospital that is already P400 million worth in the first stage of development.”

Overall, investment in CCH is estimated to reach P500 million to P600 million

PHL banking. . .

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“The evident gap at present in terms of ESG standards in the Philippines leaves us financial institutions, together with our regulators and other experts, to develop and become more resilient and climate changeconscious,” BAP President Nestor Tan said.

The BAP also noted that over the least two decades, the Philippines was among the countries mostly affected by climate change, but investments in sustainable development in the country still fall behind its regional peers. “Sustainable finance is slowly gathering speed.

Regulators are assessing parameters in ESG; investors are now more curious about green funds; and now more banks acknowledge its

Data showed the poorest Filipinos living in Bicol experienced the highest inflation in rice at 10.5 percent, followed by Western Visayas at 10.3 percent and Mimaropa at 8.6 percent.

Poverty-reduction efforts

EARLIER, local economists believe more expensive commodities could make it more difficult for the government to meet its target of reducing poverty to 14 percent by 2022, from the 21.6 percent recorded in 2015.

Mapa said urban and rural poor households, as well as near-poor households, are negatively affected because food inflation rates are high for Metro Manila at an eightmonth average of 6.7 percent, and areas outside the National Capital Region with 5.9 percent. This is consistent with the

during the second or final phase in 2019, including the acquisition and installation of state-of-the-art medical equipment.

Construction of the Cabuyao Institute of Technology’s P40-million first phase and the P250-million Cabuyao Athlete Basic School is also ongoing.

The latter will have five buildings—one targeted for completion in the next couple of months.

Other projects in the pipeline include the Enterprise Museum, at P50 million; Cabuyao Command Center, P50 million; Track and Field Stadium, P25 million; and Malasakit Center, P15 million.

All initiatives are anchored on the socalled “3 Ks” or focus areas of his administration, such as Karunungan (education), Kalusugan (health) and Kabuhayan (livelhood), according to him.

“There is development if you are knowledgeable. There is development if you are strong. There is development if you are employed,” Gecolea said.

The mayor said they are heavily investing in public infrastructure to encourage more investors to come in.

“I want to build confidence and establish a community for business and community for living,” he said.

The soon-to-rise state-owned facilities, public hospitals, sports complex, educational institution, command center, business center and social welfare services are being built on the city government’s acquired lands, aggregating to 11.5 hectares.

“That’s the biggest procurement of lots that we have,” Gecolea said. “Due to Cabuyao’s rapid urbanization, I worry that our lands will be bought, and we end up with nothing for all our institutional structures.

That’s why we already procured them.” feasibility and efficiency. Green lending and investment is slowly being tapped by Philippine banks,” Tan said.

The BAP said green financing in South East Asia is estimated to be valued at $3 trillion and spread around infrastructure, renewable energy, energy efficiency and food, agricultural and land use projects.

However, in the Philippines, green investment opportunity in infrastructure is estimated to be around $28 billion.

“We are on a journey to becoming more sustainable economies in the region. Dialogues are ongoing across banking industries to hopefully capture the full potential of sustainable financial markets in the region,” Tan said.

BAP said there are more dialogues in the pipeline to help bring awareness to the feasibility of sustainable financing. Bianca Cuaresma

findings of a 2008 study of Asian Development Bank (ADB) economist Hyun Son, which stated that a 10-percent increase in prices of food could lead to 2.3 million poor Filipinos, while the same increase in nonfood prices could lead to an addition of 1.7 million to poverty.

Son also said that a 10-percent increase in rice and fuel prices will result in an additional 0.66 million and 0.16 million poor people in the Philippines, respectively.

“The study was done by Hyun Son of ADB in 2008. I posted it so people can extrapolate on the impact of inflation on poverty. If the inflation rate cannot be curbed, expect an increase in the poverty rate this year,” Fernando T. Aldaba, dean of the School of Social Science at the Ateneo de Manila University, told the BusinessMirror.

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The Nation BusinessMirror

Trillanes dodges arrest, thanks Makati RTC judge

By Joel R. San Juan @jrsanjuan1573

& Butch Fernandez @butchfBM

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HE Regional Trial Court (RTC) in Makati City on Monday junked the motion filed by the Department of Justice (DOJ) seeking the issuance of an arrest warrant and a hold departure order (HDO) against opposition Sen. Antonio F. Trillanes IV in connection with the coup d’etat case filed against him in 2003.

While it upheld President Duterte’s Proclamation 572, which revoked the amnesty granted to Trillanes, Makati RTC Branch 148 Presiding Judge Andres Bartolome Soriano held that the coup d’etat case has been dismissed since September 21, 2011, by virtue of Proclamation 75, which was issued by former President Benigno S. Aquino III granting Trillanes’s plea for an amnesty.

“Well established is the doctrine that a final and executory judgment shall be immutable. The Court, in fact, loses jurisdiction over the case when its decision has become final and executory,” Soriano said.

After receiving the judge’s decision, Trillanes told reporters after the court hearing: “I am grateful to Judge Andres Soriano for upholding the constitutionality of the amnesty granted to me.”

The senator added this simply means that his amnesty was “valid as he had submitted all the requirements.”

Moreover, Trillanes said he was “thankful that the judge stood by his decision despite pressure.”

He also thanked the media for “following my case.”

Soriano explained that his court was obliged to undertake a review based on the resolution of the Supreme Court on September 11, 2018.

In the said order, the Court denied the plea of Trillanes for the issuance of an injunction to enjoin authorities from arresting him following President Duterte’s nullification of the amnesty.

At the same time, the Court said the trial courts in Makati City should be first allowed to hear and resolve the pleadings filed by the DOJ and Trillanes with regard to the legality of Proclamation 572.

Even if the case has yet to be resolved with finality, Soriano said the DOJ’s motion would still have to be dismissed due to the failure of the DOJ to present evidence that would contradict the claim of eyewitnesses presented by the senator to prove that he filed his application for amnesty in which he admitted his guilt for his participation in the Oakwood mutiny.

“The Court finds the prosecution’s evidence equivocal in its import. The fact that no records of the application exists in the files of the Secretariat and or the Ad Hoc Committee or the other office of the DND [Department of National Defense] does not of itself mean that no application was filed,” the ruling said.

“The prosecution witness, who certified on the unavailability of Trillanes amnesty application records testified that she did not intend to state thereby that Trillanes did not file an amnesty application,” it added.

The Court noted that the prosecution “failed to rebut Trillanes’s witnesses and evidence.

Trillanes earlier paid P200,000 for his temporary liberty on his rebellion case at Branch 150 of the Makati RTC. Proclamation 572 specifically revoked the DND Ad Hoc Committee Resolution 2 issued on January 31, 2011, insofar as it granted amnesty to Trillanes in line with Aquino’s Proclamation 75. With Claudeth Mocon-Ciriaco

Editor: Vittorio V. Vitug • Tuesday, October 23, 2018 A3

Govt vows probe into ‘massacre’ of nine sugar farmers in Negros G

OVERNMENT authorities vowed on Monday to undertake a thorough investigation into the “massacre” of nine sugar plantation workers in Sagay City, Negros Occidental, even as Malacañang announced President Duterte himself will visit the fatalities’ wake on Tuesday.

National Police (PNP) chief Director General Oscar D. Albayalde, at a news conference in Camp Crame, assured justice will be served to the families of the fatalities who are members of the Negros Federation of Sugar Workers (NFSW) reportedly slain by about 40 armed men on Saturday at Hacienda Nene, Purok Firetree, Barangay Bulanon.

“The Philippine National Police condemns, in the strongest sense, this despicable attack on poor peasants, even as we vow to mobilize all available resources to ensure that those responsible are held accountable for their crime and justice is served to the victims and their families,” he said.

The PNP chief said pursuit operations by military and police units have been launched since Saturday, while a Special Investigation Task Group has been formed to look deeper into the incident.

Albayalde said that, while the PNP

suspects the participation of the New People’s Army (NPA) in the carnage, being a part of its “Oplan Bungkalan at Okupasyon,” a grand design to “occupy private and government property using their mass base and to create untoward incident then blame it on the government,” the probe will cover all angles.

“I have directed that all angles should be explored in their investigation and to gather solid pieces of evidence that will support an airtight case, which should be filed in our courts as soon as possible,” Albayalde said.

Chief Supt. John Bulalacao, regional director of the Police Regional Office 6, said the task force is looking at three angles on the massacre, and these are directed against the NPA, the landowner and a group of militiamen in the area.

Bulalacao said that investigators were also probing officials of the NFSW who transported the nine victims, which included two minors, to the hacienda two days before the incident.

T he hu m a n - r i g ht s g rou p Karapatan has asked the Commission on Human Rights to investigate the massacre, which it also condemned through a statement issued by its secretary-general, Cristina Palabay.

“We call on the Commission on Human Rights to conduct an independent and thorough investigation on the massacre. We are one with the kin of the victims in the Sagay massacre in their call for justice,” said Palabay.

Agrarian Reform Secretar y John R. Castriciones, for his part, said the massacre took place in illegally occupied portions of the hacienda. He added that the fatalities are not listed land-reform beneficiaries and that the land they occupied is not covered by the Comprehensive Agrarian Reform Program (CARP).

The Department of Agrarian Reform chief said he will form a task force comprising of representatives from the DAR and the CARP-implementing agencies and will be calling for an emergency meeting of the Presidential Agrarian Reform Council in light of the bloody carnage.

“I strongly condemn the killing of nine sugarcane workers in Hacienda Nene in Sagay City, Negros Occidental,” Castriciones said.

“Whatever the reasons may be, investigation shows that the CPP-NPA [Communist Party of the Philippine-New People’s Army] are the ones behind the massacre,” Presidential Spokesman and Chief

Presidential Legal Counsel Salvador S. Panelo said in a radio interview on Monday.

But for former Bayan Muna Rep. Neri Colmenares, a Negrense, who has also condemned the massacre, those who should be held responsible for the attack are none other than the Duterte administration and the military.

Colmenares noted the military had earlier alleged that the l a nd- c u lt ivat ion a rea s bei ng maintained by agricultural sugar workers and farmers in Negros Island are in fact NPA rebels’ communal farms.

“That is really absurd because the issue of land is a legitimate issue.

This is an attempt of the Duterte government to quell any form of protest by criminalizing legitimate demands. As NFSW has repeatedly pointed out, the goal of setting up land-cultivation areas is to ward off the inevitable hunger brought by the Tiempo Muerto [dead season in the sugar industry] by planting on properties vegetable, corn and root crops on undistributed and idle lands to feed their families,” he said in a news statement. “We demand an immediate impartial probe on this massacre, and we will not stop until justice has been served.” Rene Acosta, Jonathan L. Mayuga and Bernadette D. Nicolas

A4 Tuesday, October 23, 2018 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Govt, hog raisers reach deal on pork SRP in wet markets

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE government and hog raisers have reached a middle ground on the matrix of the impending suggested retail price (SRP) scheme on pork products sold in the wet market.

Pork Producers Federation of the Philippines Inc. (ProPork) President Edwin G. Chen told the BusinessMirror that the SRP on pork products would be based on a fixed mark-up costs to the prevailing farm-gate prices.

The SRP would be implemented by the Department of Agriculture (DA).

Chen said the SRPs for pigue (ham) and kasim (shoulder) would be equiv-

alent to the farm-gate price plus P70 per kilogram, while liempo and pork chop would have an additional P90 per kilogram.

“Those are the SRPs for pork products, which would only be temporary,” he said via SMS. “ProPork supports the government to fight inflation [and have] affordable and safe food,” he added.

Chen said the SRP would be reviewed weekly based on the prevailing farm-gate prices of hogs, which is dependent on the current supply and demand for pork. Chen did not disclose when the SRP on pork products would be implemented.

The government has been releasing a series of SRPs on farm products, including onion, garlic and fish products, since June following sudden

spikes in their retail prices.

The SRPs on farm products are being implemented by the DA and other government agencies to avert further spikes in retail prices and curb inflation.

Last week the DA released its price matrix for the SRP on rice products, which is set to take effect on October 23.

Agriculture Secretary Emmanuel F. Piñol earlier said livestock and poultry industry stakeholders have also requested for a support price for their produce to ensure raisers’ income during times of oversupply and falling meat prices in the market.

Piñol said the idea was floated by broiler industry stakeholders following the implementation of an SRP on chicken meat recently.

DA pushes sorghum farming on IP lands

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HE Department of Agriculture (DA) is inclined to push for the development of local sorghum production to meet the growing demand of the livestock sector for animal feeds.

Agriculture Secretary Emmanuel F. Piñol said the DA would kick start its sorghum production program (SPP) to supplement the country’s yellow corn output for the needs of the feed milling and livestock sectors.

Piñol said the SPP would be part of

the DA’s programs and plans involving indigenous peoples (IP).

“The sorghum production program will be focused mainly in indigenous people’s ancestral domain areas because it could be easily grown in poor soil,” he said in a Facebook post on Monday.

“Sorghum could also be harvested three times because of its ratooning characteristics, where it regrows when cut at ground level,” he added.

Piñol said local feed millers have

expressed interest in purchasing locally produced sorghum as it is a protein-rich crop.

“The rapid growth of the poultry and livestock industries has increased demand for yellow corn, pushing prices up,” he said.

Piñol said the SPP would be headed by the DA’s Special Area for Agricultural Development team, which oversees programs intended to cut poverty incidence in the farm sector. Jasper Emmanuel Y. Arcalas

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Anticorruption–a voluntary necessity or an explicit choice?

By Henry J. Schumacher

A

LTHOUGH corporate social responsibility (CSR) seems to have become a buzzword in recent years, business has always been concerned about society and the environment. Their relationship is ultimately symbiotic: neither can or will a company thrive in a failing society, nor can a society prosper without a successful expanding economy. Integrity, business ethics, anticorruption form part of cornerstones on which modern business is built.

The increasing globalization (with or without Trump) of the world economy has led to significant changes in supply and value chains and in the division of labor.

Doing business and manufacturing goods have become more complex, as enterprises wishing to do international business have to comply with more and more legal and ethical standards (both the Philippines and the European Union have added data-privacy rules that are affecting every organization). As a result, CSR has become a kind of voluntary necessity rather than an explicit choice. However, mere charity is not working. In order to succeed globally, businesses have to respond to certain expectations and align their strategies and operations to universal values.

These expectations and values become especially evident when tragic incidents prove weak standards, like the collapse of the garment factory

in Bangladesh or the fire in the plant in Valenzuela, where many workers lost their lives. Manufacturers came under fire for their supply chain responsibility. Public pressure prompted companies to improve attention to safety requirements and labor/ human-rights issues.

Beyond human-rights issues, the public’s attention has also been drawn to questions of environmental sustainability, given the deadly landslides in Cebu and north of Baguio recently.

It is against this background that many international initiatives and guidelines have been established. These guidelines include the UN Global Compact, the OECD Guidelines for Multinational Enterprises (MNE) and the ILO’s MNE Declaration. The latter is the world’s most comprehensive government-backed multilateral agreement on business ethics.

All of the measures above are often seen as only providing recommendations. Critics say that these initiatives are not meaningful if they have no basis in law and formal enforcement. However, this understanding of voluntary compliance reflects the common misconception that poor business conduct has no consequence for the offending company. Not adhering to responsible

business practices cannot be tolerated and will have a negative effect on the reputation of a company.

This is why the Integrity Initiative Inc. basically highlights the following principles that have to be adhered to by companies signing the Integrity Pledge: Long-term sustainability over short-term greed I respect the labor laws I pay fair taxes I respect the environment I don’t smuggle I don’t bribe.

In the Integrity Initiative, we have always been clear how business should be done: Integrity is honesty; selflessness (in the sense that a decision is based on public/ institution interest and not on private interest); objectivity (a decision is based on merit); transparency (no under-the-table deals) and accountability (those who break the law must pay the price).

Ultimately, the Integrity Initiative hopes to build trust in the government, a more equitable society and fair market conditions. This will result in improved competitiveness and increased business confidence, which will be evident with the increase in domestic and foreign investments, and more employment generated for Filipinos. It will provide better services and products to every Filipino.

In order to succeed more sectors of society have to get involved, such as the court system, academe, civil society, labor, church leaders and—above all—the youth.

Anticorruption—voluntary necessity or explicit choice? Have I convinced you to join the Integrity Initiative and sign the Integrity Pledge? If yes, send me an e-mail (Schumacher@eitsc.com) and I will send you the pledge for signature.

Senator backs PAP’s stand to maintain tax-free regime on oil, fuel exploration

By Lenie Lectura

@llectura

T

HE chairman of the Senate Committee on Energy on Monday threw his support behind the Petroleum Association of the Philippines’s (PAP) request to the government to keep the incentives for the upstream petroleum industry intact, amid “hard times” in the exploration and discovery of new reserves.

“They [PAP members] are not asking money from the government. They just want consistency and stability. So, I’m inclined to support that they not be included in Tax Reform for Acceleration and Inclusion [TRAIN 2],” said Sen. Sherwin T. Gatchalian at a forum organized by the Samahang Plaridel’s Kapihan on Monday morning.

The PAP cited fiscal incentives such as tax-free importation of equipment and supplies, exemption from all taxes except income tax, income tax assumption (i.e., payment of income tax out of the government's share), accelerated depreciation, free market determination of crude oil price, and easy repatriation of investments and profits, are cited under Presidential Decree (PD) 87.

These incentives will no longer be offered when the proposed Package 2 of

Peza continued from a1

Further, exports by Peza-registered firms improved 6.43 percent to $35.79 billion in export receipts, from $33.62 billion last year.

Growth conceded

IN an interview with reporters, Peza Director General Charito B. Plaza said the agency has already conceded its 10-percent growth in investments goal for this year. However, she is banking on the IT-BPM industry to somewhat reduce the decline in total Peza pledges.

the tax-reform program of the Duterte administration is implemented.

PD 87 was issued by the late strongman former President Ferdinand E. Marcos to amend the earlier PD 8, which promotes the discovery and development of the country’s indigenous petroleum resources.

PAP noted that commercial oil and gas discoveries happened only after the promulgation of PD 87 in 1972.

“None of major oil companies are engage in oil exploration. At the moment, it’s a wait-and-see attitude on the part of major companies. TRAIN 2 seeks to minimize or remove incentives. While we support the tax reform in general, we believe it’s not time to remove incentive in the petroleum industry,” said PAP President Rufino Bomasang, who was present during the forum.

He stressed that for the Philippines to attract technically and financially qualified exploration companies, the incentives should not be touched.

PAP Vice President Edgar Bendict Cutiongco called for stability in fiscal regime. “We don’t want to be included in TRAIN 2. The main effect on us is that if these incentives are no longer present, investors will go to Malaysia, Indonesia, Thailand­— where they per-

ceive a stable regime,” he said.

The senator agreed, saying the government needs to address these problem areas in the fiscal regime in order for the country to encourage more oil explorations and achieve energy security.

“We have to come up with policy stability in terms of fiscal incentives. I saw in the TRAIN 2 that there are items that are not logical, like importation of equipment. Seismic equipment, we don’t have it here that’s why we import it,” Gatchalian pointed out.

The retention of existing fiscal incentives is necessary for the senator’s oil and gas exploration initiative to work.

The country potentially has 3.5 billion barrels of oil deposits and 24.7 trillion cubic feet of gas deposits that are considered undiscovered. Of which, only 4.6 percent of 160 million barrels of oil and 3.8 trillion cubic feet of gas had been discovered since 2016.

The Philippines has been importing around 94 percent of its oil requirements, spending around $9.89 billion in 2017, a jump of 31.2 percent from the $7.54-billion import bill in 2016.

Energy Secretary Alfonso G. Cusi for his part, said that the country needs to tap its own oil and gas reserves in order to be energy self-sufficient.

“[Investment increase in IT-BPM is] marketdriven. These are compelled by their clients, forced to expand because their demands are increasing,” Plaza said.

The Peza is targeting to grow investment pledges to a modest 10 percent this year from P237.57 billion recorded last year. The agency has been hit by the government’s plan to rationalize tax incentives under the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho).

This is why Plaza is urging government econo-

mists and lawmakers not to tinker with incentives granted to firms registered with the Peza. She said doing so could lead to firms moving out of the country, which could lead to job losses.

The controversial Trabaho bill is the second package of the Duterte administration’s taxreform program.

It seeks to gradually reduce corporate income tax down to 20 percent by 2029 from 30 percent.

The measure will also overhaul the incentive regime provided to locators in economic zones.

www.businessmirror.com.ph

Dangal Awards BusinessMirror

Tuesday, October 23, 2018 A5

NO WINTER, JUST ETERNAL SPRING IN HEARTS OF THE BEST SENIORS

6th edition of Dangal Awards shines a light on the life and works of the Filipino elderly

S

By Efleda P. Campos | Senior Editor

EVENTEEN senior-citizen leaders are vying for this year’s Dangal Awards for Elderly Care, the sixth edition of a joint undertaking by United Laboratories Inc. (Unilab), RiteMed Philippines Inc., United Bayanihan Foundation Inc. (UBF) and the BusinessMirror.

“Dangal” stands for Dakilang Adhikain ng Ating Lahi. This year’s awards will be held on Wednesday, October 24, at the Unilab Bayanihan Center on Pioneer Street, Pasig City.

The senior-citizen nominees are mainly from Metro Manila, but a couple come from Bulacan and rural Aurora province. All are bound by an unwavering faith in God and a desire to serve the older population in their respective local government units.

Five senior-citizen groups will also be recognized: Muntinlupa City’s Parkhomes Senior Citizens Association, the SSDD Senior Citizen Volunteers of Quezon City, the Association of Retired Educators of Makati, Senior Citizens Group of District 1 in Manila and the Legion of Vibrant Elders in Parañaque City.

The Dangal Awards is an offshoot of the pioneering retirement program Unilab launched for its employees in 1959. The Unilab’s United Retirement Plan sought to provide for retirement, resignation, disability and death benefits to its members. Over the years, the program expanded, planning activities for retired employees, subsequently including the communities where the retirees reside and where the company and its subsidiaries are located.

Activities include information sessions on their health, dental, senior-citizen and related benefits, as well as proper nutrition and many topics relevant to aging;

organized tours or visits to movie houses, local fun spots and museums; group birthday and anniversary celebrations; dancing; sports fests; and other activities that help enliven the elderly in their twilight years, culminating in the yearly celebration of Elderly Week in the first week of October and the monthlong festivities for Elderly Month, held every year in October.

The growing number of Unilab retirees each year has helped bolster the company’s retirement program, carried by the spirit of volunteerism that Unilab retirees embody.

Retirees serve as resource speakers, group leaders and spearhead medical and other community-based missions.

The 17 nominees are: (representing Pasig City) Myrna Almaria, Ma. Corazon Benavidez and Zenaida Perez; (Taguig City) Lucy Franco; (Navotas City) Santiago Alvarez; (Pateros) Julia Chupungco; (Makati City) Teresita Conlu; (Quezon City) Purita Pura and Salome Bautista; (San Juan City) Renato Santos; (City of Manila) Necita Salivio; (City of Las Piñas) Yolanda Chan-Tan; (Parañaque City) Crisostomo Diaz Sr.; (Pasay City) Elizabeth Lim; (Mandaluyong City) Cornelio Valencia; (Bulacan) Abelardo Ramos; and (Aurora province) Loreto Binuya.

Myrna Almaria—Mrs. Almaria uses her creativity to teach the elderly to earn extra money with her colorful bead creations: star-shaped lanterns, candle hold-

IN this file photo, BusinessMirror Publisher T. Anthony C. Cabangon (right), joins RiteMed General Manager Vincent L. Guerrero (second from left), United Bayanihan Foundation Executive Director Arthur Loyola (second from right) and Unilab External Communications Head Claire D. Papa (left) in presenting the individual awardees in last year’s Dakilang Adhikain ng Ating Lahi Awards for Elderly Care.

ers and wall and table decorations.

Santiago Alvarez—He has mounted money-raising projects, including bingo socials twice a year and Christmas caroling.

He organized free haircuts for both young and old, and values formation for teenage and adolescent boys.

Salome Bautista—Mrs. Bautista works for the Diocese of Cubao, sharing her knowledge in cooking and livelihood projects not only with the needy elderly but also poor parishioners in the seven parishes under her jurisdiction.

Ma. Corazon Benavidez—A retired public high-school teacher, she has used her experience to reach out to people in her work as a barangay official and senior-citizen leader.

Loreto Binuya—Mr. Binuya spent most of his adult life working as a United States marine. He renounced his US citizenship when he returned to the Philippines and

saw the poverty of senior citizens in his home province of Aurora. Often using his own resources, he scoured the rural areas, persuading older people to be active again and access benefits accorded them by law.

Yolanda Chan-Tan—As a kagawad in Pateros, Mrs. Chan-Tan became exposed to the needs of her community. As president of the senior citizens’ group in her area, she has added food and medicine to the assistance provided to the elderly.

Julia Chupungco—As an officer of the Pateros Office of Senior Citizen Affairs for 21 years, she has spearheaded cultural, fund-raising and fun activities, and helps collect food, medical and medical equipment for needy seniors.

Teresita Conlu—She studied Fisheries at the University of the Philippines and spent most of her career as an employee of the Bureau of Fisheries and Aquatic Re-

sources. She organizes service activities, including feeding programs for poor constituents (including informal settlers and children living in cemeteries).

Crisostomo Diaz Sr.—He has used his agriculture engineering background and religious affinity to help 4,000 poor contract growers—about 1,000 of them senior citizens - in the cassava industry hike their production and earn better.

Lucy Franco—Mrs. Franco helps 60,000 seniors from the city and nearby Pasig, Makati and Pateros get their basic benefits as seniors.

Elizabeth Lim—As a senior-citizen leader for 15 years, she teaches livelihood skills to the elderly, raises funds for food and medicine for the poor elderly and helps them access benefits.

Zenaida Perez—She organizes information sessions on senior-citizen rights, nutrition, physical fitness, health and fun activities for her constituents.

Purita Pura—Mrs. Pura leads a very active life helping other seniors by sharing her learnings and practical knowledge on benefits and money-making ventures.

Abelardo Ramos—He has organized 6,000 senior citizens in his hometown from only 500 active members when he began his work. He has led information sessions on Republic Act 9994 and other laws enacted for senior citizens; social gatherings; and walks for a cause.

Necita Salivio—Representing Manila, she visits constituents at home, talks their language and shows her genuine concern by sharing basic information about senior rights and privileges.

Renato Santos—From San Juan, he has helped restore the faith of many seniors disillusioned by previous leaders. He has raised money for the poorest seniors.

Cornelio Valencia—With 33 years of government service, he has continued his service to the public, this time to the elderly.

EDDIE ILARDE: YESTERDAY, TODAY AND TOMORROW

By Psyche Roxas-Mendoza

Managing Editor, Philippines Graphic

H

IS is the voice that has traveled through the decades and, literally, across space.

Well, there is a science to this.

According to Lightyear.FM, “Radio broadcasts leave Earth at the speed of light. The farther away you get, the longer the waves take to travel there—and thus, the older music you’ll hear.”

Thus, the Beatles top hit “Hey Jude,”first aired over the radio in 1968, can be heard as far out as 50 light-years from Earth. And what is the distance of a light-year? About 9.46 trillion kilometers.

Now, imagine if you were Eddie Ilarde, who made his first radio broadcast in 1953: “This is MBC, the Manila Broadcasting Company, DZRH, the voice of the Philippines. The time at the tone brought to you by RCA is…12 high noon.”

Today, that broadcast would be traveling through space and could be heard as far as 65.7 light-years away, all the way to the bright star Alpha Caeli, found in one of the smallest and faintest constellations in the night sky, the Caelum star constellation.

And exciting as the science is, the actual experience of a first broadcast for this then 19-yearold Bicolano was just as thrilling. Especially since it came after 31 failed auditions.

“I felt like a king. Sitting down in front of the microphone, with the big clock, inside the studio of DZRH-MBC. And I was sitting down at the announcer’s booth,” Ilarde said.

He added that he was so gung ho about the work he would arrive at the station at seven in the morning and periodically gazed at the clock until it approached 12 high noon. “Nandoon ako sa studio, nakatingin sa relo [I was at the studio, watching the clock].”

Discovered by veteran DZRH announcer Ray Oliver (a.k.a., Ramon Oliveros Decolongon), Ilarde first worked part-time in the station, undergoing a sort of initiation from the other announcers who were a bit miffed that Ilarde, a newbie, was already an announcer at DZRH, the flagship station of MBC. Tall and gangly, with a thick Bicolano accent that became obvious every time he spoke Tagalog, Ilarde came to work wearing faded maong pants, a t-shirt and old sneakers handed down from his older brother.

“I would wipe the floor and pick up the cigarette butts they [announcers] left on the floor.

Talagang ganun ang buhay [That was life]. That was how it was back then. And at that time, if you wore maong pants and sneakers, it meant you were poor,” he said.

That same year, Ilarde married Sylvia Berenguer Arrastia, and over the years, they were blessed with seven children, all professionals.

Banner years

THE mid-1950s to the mid-80s were banner years for Ilarde. He was first in introducing the following television and radio programs: The Eddie Ilarde Show, the country’s first musical variety program (1959-1962); Kahapon Lamang, the first TV drama anthology and public service-oriented program (started in 1955; 1976-1986); Yagit, the first TV soap opera, about the twists and turns in the lives of child scavengers (mid-80s); and Student Canteen, the first student/youth talent search (1958-1965; 1975-1986).

He was also the creator of Kapwa ko, Mahal ko in 1975 and produced Napakasakit, Kuya Eddie (1986-1988). Ilarde likewise received the Philippine Movie Press Club Star Awards for Lifetime Achievement for Radio and Television.

In 1991, he supported the creation of DWIZ, a radio network under the leadership of the late Ambassador Antonio L. Cabangon Chua. It was here where Ilarde had a morning program in tandem with former Sen. Nikki Coseteng, and later with former Miss International Gemma Cruz.

He discovered radio and TV talents who became big names in the entertainment industry, citing the likes of Pilita Corrales, Coney Reyes, Janet Basco, Marco Sison, and even Tito, Vic and Joey.

‘Kahapon Lamang’

BORN on August 25, 1934, Ilarde was the smallest among three boys born to a widowed publicschool teacher, whose teacher-husband was killed during the Second World War. He graduated with honors from the Iriga Central High School, and later, as a part-time working student, finished a degree in journalism at the Far Eastern University, where he was voted “Outstanding Alumni” in 1957.

In between school and broadcast work, Ilarde brushed up on his Tagalog by reading Bulaklak and Liwayway, two magazines which he sold at Central Market while shining shoes on the side.

He got his break when he became a regular guest at Tayo’y Mag-aliw of famous 50s radio announcer Paeng Yabut. It was the first live show on radio, Ilarde recalled, complete with a live audience and guests.

Still, his biggest break came in 1955, with the radio program Kahapon Lamang, a dramatization of true-to-life stories annotated by Ilarde.

“At first, I played old songs. But then I received many letters from listeners telling me about their love problems and asking for advice. A listener would write, ‘Alam ’nyo Kuya Eddie, iniwan ako ng aking kasintahan. Ano ang dapat kong gawin [You know, Kuya Eddie, my girlfriend left me. What should I do]?’ Without prodding, they would write and ask for my advice. And so I gave them homespun advice, nothing highfalutin. I speak their language,” he said.

Animated, detailed and precise—this is how Ilarde talks about choice scenes in his past, going to the extent of mimicking the voices and intonation of people he remembered with fondness and respect. He does not forget the dialogue that transpired, even the streets and walkways that accompanied each memory.

“In those days, if you walk in a callejón, that narrow passageway adjacent to the main road, if you walk a hundred meters, you will be able to finish Kahapon Lamang without missing a

Politics

ILARDE dialogue. Because all the houses you will pass, all the way to the end of the street are listening to the program,” he said.

The next stop was the movies. In 1959, Ilarde made a film, Dear Kuya Eddie, starring dramatic actress Charito Solis and beauty queen-turnedmovie star Lalaine Bennet. He was only 23 at that time.

ILARDE was the first radio-TV personality to straddle the entertainment and political firmaments.

Ten years after a successful radio and TV career, Ilarde entered politics as an independent and won as the top councilor of Pasay City in 1963.

Two years later, he won again as congressman in the First District of Rizal. In Congress, he was known as the “Father of the Police Reform Act” (1966).

He was also the first to expose the deleterious effects of air and water pollution, investigating 27 inland waterways and exposing factories dumping toxic effluents in the Pasig River and Laguna Lake.

His biodata says it all: creator of the National Telecommunications Commission, father of the “rent control law.”

In 1971, Ilarde was elected senator, after surviv-

ing the Plaza Miranda Bombing. He ranked No. 4 in the Senate slate even without campaigning, as a result of the damage of the carnage to his leg.

When martial law was declared and Congress abolished in 1972, Ilarde ran and became assemblyman of the National Capital Region in 1978.

There, he authored the “Ilarde-De Vera Hospital Deposit law,” which prohibited hospitals from demanding cash deposits for emergency cases.

Elderly renewal, revival

AT 84, Ilarde is far from giving up on the things he loves the most. Like legendary Beatle Paul McCartney, he remains deeply involved with life and is busy accomplishing new things.

He is active as founding chairman of the Maharlika Movement, a values-oriented movement that seeks to replace the name of the country, “Philippines,” with “Maharlika.”

This gentleman farmer in Cavite has seven children, 13 grandchildren and one great-granddaughter named Kieran, aged seven.

In 2009, Ilarde revived his 1955 program, Kahapon Lamang, now the longest-running radio drama in the country. This time it is aired over DZBB (594 kHz on the AM band), and listeners can tune in every Saturday and Sunday from 1:30 to 2:30 p.m.

Staying relevant, Ilarde has taken as his allenduring advocacy the 10,000-strong elderly sector in the Philippines.

Author of The Book of Seniors, Ilarde founded the Golden Eagles Society International, said to be the biggest organization of senior citizens in the country with at least 3,000 members. The group is pushing for the creation of the Commission for the Elderly to address the dignity and welfare of senior citizens.

Ilarde said applications for interested elderly folk are available at the Golden Eagles office, Rm 203 FBT Building, Jupiter, Bel-Air, Makati City.

This October 24, Ilarde will lead the outstanding awardees in the 2018 Dakilang Adhikain ng Ating Lahi, or Dangal, Awards for Elderly Care.

This annual awards is a partnership between the BusinessMirror and Unilab, with the support of United Bayanihan Foundation and RiteMed. In truth, Eddie Ilarde may be 84, but his 19-year-old voice is still rocking and rolling across the universe. Just as his active self continues to defy aging.

A6 Tuesday, October 23, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Less is more

T

HE party-list system is intended to promote marginalized representation in Congress, to give those sectors in Philippine society that do not have much economic or political clout a voice in the House of Representatives.

Under the party-list law (Republic Act 7941), the “marginalized” include sectors such as “labor, peasant, fisherfolk, urban poor, indigenous cultural communities, elderly, handicapped, women, youth, veterans, overseas workers and professionals.”

The past elections though have proven these categories to be by no means exhaustive. Indeed, we have seen some curious examples of marginalized representation in the party-list system, both in terms of nominees and the parties themselves.

In today’s 17th Congress, there are 46 old and new party-list groups representing the marginalized sectors. The biggest is Ako Bicol with three seats.

It is supposed to represent the interests of Bicolanos. You have to wonder, though. How can Bicolanos be marginalized when it already has 16 congressional district representatives in the House—aside from Vice President Maria Leonor G. Robredo and four Bicolano senators (Antonio F. Trillanes IV, Francis G. Escudero, Gregorio B. Honasan II and Leila M. de Lima) serving in the other two main branches of government?

Migrante International, a migrant advocate group, recently filed an ethics complaint in the House against another party-list representative, ACTSOFW’s Aniceto “John” D. Bertiz III, because of his alleged maltreatment of two overseas Filipino workers, ironically his very constituents.

Bertiz, who reportedly owns or at least owned a recruitment agency, was recently made infamous when a viral video showed him violating airport security protocol, and his sexist remark when he apologized for the said incident.

Among those seeking congressional seats in the 2019 polls under the party-list system are Sen. Manny Pacquiao’s brother Bobby Pacquiao (running as representative of the OFW Family Club), former Assistant Presidential Communication Secretary Mocha Uson (nominee of AA Kasosyo), Emily Alvarez (wife of former Speaker Pantaleon D. Alvarez, nominee of newly formed Metro party-list group) and former Presidential Spokesman Harry L. Roque Jr. (a nominee of Luntian Pilipinas, who was also at one time a partylist representative of another group, Kabalikat ng Mamamayan).

The richest congressman, multibillionaire Michael L. Romero, is seeking reelection as the nominee of 1-Pacman, another party-list group that supposedly represents the marginalized sector, which stands for One Patriotic Coalition of Marginalized Nationals, namesake of Manny Pacquiao, for obvious purposes.

Former Commission on Elections (Comelec) Chairman Sixto Brillantes Jr. told the media during the filing of Certificates of Nomination and Acceptance at the Comelec office last week that the party-list law should be revised because there were too many aspiring and incumbent party-list representatives.

He said he had prohibited other party-lists from running when he was the Comelec chairman, but they were eventually allowed by the Supreme Court.

Brillantes was referring to a 2013 decision of the Supreme Court, which ruled that groups, even political parties participating in the party-list elections, need not be marginalized for as long as they register under the partylist election and do not field candidates in the legislative districts.

Of course, Brillantes himself was at the Comelec to accompany former Rep. Gina P. de Venecia, who is the first nominee of Inang Mahal, a recently formed party-list group that is seeking Comelec accreditation, supposedly to represent the women sector.

But we agree with his point.

The Comelec should, indeed, judiciously investigate the qualifications of the party-list groups and their respective nominees for the 2019 elections, perhaps even overhaul the accreditation process itself. Congress should also amend the party-list law to strictly limit the sectors seeking accreditation, in order to uphold the main purpose of the party-list system.

While many want to be called marginalized, only a few should actually have seats in the House.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

T. Anthony C. Cabangon

But we should be clear-headed about what is happening in the world. Now is not the time to make a U-turn from the economic fundamentals we havea nurtured and built. The Philippine economy is growing; there is no doubt about that. Thus, we should protect our growth drivers and go easy on the productive sectors that have been a proven contributor to the gross domestic product (GDP).

Take the closure of Boracay Island, for example. President Rodrigo Duterte was right in shutting down the island tourist destination to prevent further degradation of

recently spiked, and any economic measure that tends to increase prices and lead to job losses or reduced job opportunities should be withdrawn from the table, until things stabilize.

The economy as it is will expand, albeit at a lower rate because of the new economic order being introduced by US President Donald J. Trump. But it will grow at a respectable rate because of our strong economic fundamentals. Our fiscal and monetary policies, for one, encourage growth and attract foreign direct investments. The inflation rate may have overshot the target range of the Bangko Sentral ng Pilipinas, but Philippine prices have not reached runaway levels.

The administration also has established political stability—a sure recipe for economic success.

In addition, President Duterte has been consistent in fighting corruption to maximize resource utilization and attract more foreign investments.

President Duterte’s massive infrastructure program that includes toll roads, airports, rail networks, bridges and power plants will ensure further economic expansion in the medium- and long-term period.

Finance Secretary Carlos G. Dominguez III says the momentum of the “Build, Build, Build” is strong, and “we are moving quite well in our infrastructure program.” He also assured that the economy, amid rising inflation, was not overheating at the moment and that local industries were not even running at 90 percent of their capacities, “so we are in safe borders.”

Dominguez, meanwhile, expects the country’s current debt-to-GDP ratio of 42 percent to decline further to 38 percent by 2022. The ratio is one economic fundamental that foreign investors look at before placing their bets on a particular nation.

A low debt-to-GDP ratio indicates the economy’s production of goods and services are sufficient to pay back debts without incurring further debt.

With these strong economic fundamentals, the Philippines, I believe, will withstand the turbulence and the volatilities in the outside world.

Musk. The company was everyone’s poster child for billionaire entrepreneurship until it wasn’t.

Scan newspapers for 2016 and it was all good news. The preorders for Tesla automobile were huge, and the fact that Tesla was not hitting its production targets was not a problem. In February 2017: “Tesla’s Never Hit A Deadline, But It Says That Will Change” and “Elon Musk sees ‘clear path’ to Tesla being worth more than Apple.”

Then the mood changed particularly a few months ago as the company and the CEO were no longer the press darlings. The problems were always the same, but the press coverage became negative. Now the articles are relatively neutral, more factual than opinionated.

The coverage changed more than the company.

So how do we play and profit from visible changes in the narrative?

For several months, much of the conversation has been how bad things were in the emerging markets. Foreign funds have come out of countries like the Philippines, and while some of our own problems are domestic,

the EMs—excluding China—have been treated like lepers. The International Monetary Fund has cut its global growth forecasts for 2018 and 2019. But which countries are in trouble?

The news says “Emerging markets saw larger cuts to their growth forecasts in the IMF report.” Except the IMF highlights the “basket cases” of Argentina, Brazil, Iran and Turkey. The two bestprojected performers for 2018 and 2019 are India and the Asean-5.

Detail the numbers and the two best economies globally after India are Vietnam and the Philippines.

Go as far out as 2023, Vietnam and the Philippines are still in the top 10 behind some strange cases, such as Mozambique and Bhutan.

Unfortunately—or maybe to be expected—not a single local news source bothered to actually look at the IMF report regarding the Philippines, but simply copied and pasted the general negative overview from the Associated Press.

By the time the narrative shifts to “Yeah, Philippines. Looking good,” you should already be in.

Is it now the time to finally “Buy the Philippines?”

Manny B. Villar

THE ENTREPRENEUR Continued from A1

HE sharp drop in Wall Street, as many foreign analysts have pointed out, was overdue after an extended winning streak.

European and Asian markets, including the Philippines, caught the proverbial cold after the Wall Street sneeze. Compounding the global market turmoil are the brewing trade war between the United States and China, the Middle East tension that is jacking up world oil prices and, of course, the staggered interestrate hikes of the US Federal Reserve Board. The monetary policy of the US Fed, in turn, is weakening major currencies elsewhere and those in the emerging markets, like the Philippine peso. the environment. Now with its soft opening after a six-month closure, Boracay will resume its contribution to the economy. President Duterte in a sense protected one growth driver in Boracay because the island in the longterm will be a consistent dollar earner and a direct employer to thousands of Filipinos on a sustainable basis.

The government, meanwhile, should keep in mind that amid the turmoil in the global financial markets, it should temporarily avoid introducing reforms that could add up to the anxiety of the consumers. Food and gas prices have

PHL: Best of the best?

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Finance Secretary Carlos G. Dominguez III says the momentum of the “Build, Build, Build” is strong, and “we are moving quite well in our infrastructure program.” He also assured that the economy, amid rising inflation, was not overheating... and that local industries were not even running at 90 percent of their capacities, “so we are in safe borders.”

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Stick to fundamentals and we will be okay

John Mangun

OUTSIDE THE BOX

W

E like to complain about there being too much bias in the press and media, but if you know what to look for, that bias can be a valuable source of information. This is particularly true for the international press, which is dominated

by Reuters, Bloomberg and Associated Press.

Being bombarded by a biased press is not as great a problem here in the Philippines because there is much national and local competition, and by looking at several sources, you can get a clear picture.

Of course, I am assuming that you are a thinking person that wants to make your own decisions and not simply read only what you want to hear.

The three companies mentioned feed much of the “news” that show up on the front pages.

Thomson Reuters Corp. generated $11.17 billion in revenue last year. The last numbers from the

private company Bloomberg was in 2014 at $9 billion, and the Associated Press is a small player at $600 million.

You could go in to all manner of conspiracy theories that these entities are controlled by the global elites wanting to push an agenda.

But that is not the point. It is not a conspiracy but a fact that virtually all “news” is to feed a narrative. That is the way of the world just like the small town mayor wants the local newspaper or radio station to be on his side. We live with it.

A case in point is Tesla and Elon

Opinion BusinessMirror

www.businessmirror.com.ph

World’s fastest-growing economy has the world’s most toxic air

Martial law, human rights and other stark issues Cecilio T. Arillo

DATABASE

By Iain Marlow Bloomberg Opinion

A

SIA’S largest economy, China, has long had a reputation for smoggy skies. But these days, neighboring India is fighting the far bigger battle with pollution: The South Asian country is home to the world’s 10 most polluted cities outside India’s capital, New Delhi, Kusum Malik Tomar knows the personal and economic price of breathing some of the world’s most toxic air.

At 29, she learned that pollution was the likely driver of the cancer growing inside in her lungs. She had never touched a cigarette.

Her husband Vivek sold land to pay for her treatment. They borrowed money from family. Their savings slowly disappeared.

“The government is thinking about the economic growth of the country, but people are dying of diseases or suffering from diseases,” Tomar said. “How can you grow economically when, within your country, your citizens are facing economic problems because of the air pollution?”

India has long struggled to pull together the type of coordinated national approach that’s helped China reduce pollution. Prime Minister Narendra Modi’s government is now pushing new initiatives it says are starting to curtail hazardous air. But any gains would have to be enough to override other facets of India’s rampant growth, from the dust left by thousands of new construction sites to exhaust from millions of new cars.

In the coming weeks, the Modi government’s policies on pollution will be put to the test as winter descends on the dusty plains of north India. Crops are burned during this season and millions of fireworks go off during the Diwali festival, usually pushing air pollution to hazardous levels.

If strict policies to battle smog were successfully implemented, India’s citizens and government would be much richer. By the World Bank’s calculations, health-care fees and productivity losses from pollution cost India as much as 8.5 percent of GDP. At its current size of $2.6 trillion, that works out to about $221 billion every year.

While India is currently the world’s fastest-growing major economy, China’s $12.2-trillion economy is five times larger. The South Asian country is still trying desperately to promote basic manufacturing, which could cause pollution to worsen, said Raghbendra Jha, an Australian National University economics professor.

“It’s too simplistic to assume a smooth transition” to clean economic growth in India, he said.

When Arvind Kumar of New Delhi’s Sir Ganga Ram Hospital started as a chest surgeon in 1988, 90 percent of his lung cancer patients were middle-aged male smokers. Now, he says, 60 percent of his cases are nonsmokers, while half are women.

Tiny airborne particles have been linked to ailments from asthma to heart disease and lung cancer, contributing to the deaths of more than 1.1 million Indians in 2015, according to the nonprofit Health Effects Institute.

Meanwhile, after two decades of expansion that reshaped the global economy, China is orchestrating a shift to less-polluting services and consumption. So while its cities still see smoggy days, they’ve also seen improvements.

The number of “very unhealthy” days or worse­— when levels of dangerous particles called PM2.5 crossed 200—rose to 84 in New Delhi in 2017 from 66 in 2015, according to analysis of air quality data from AirVisual, which tracks air quality. In Beijing they dropped to 20 days from around 43 over the same period.

“The major challenge is that people are not consistently demanding improvements in air pollution, as happened in China,” Michael Greenstone, director of the Energy Policy Institute at the University of Chicago, said via e-mail. “This is

because the extent to which air pollution is causing people in India to lead shorter and sicker lives is not yet fully recognized.”

India’s government has said some international studies linking air pollution to mortality “may not be realistic” and that the “number of deaths due to air pollution needs to be further investigated and supported by indigenous studies.”

The country’s environment ministry says it’s also making headway in reducing bad air, citing its own calculations for this September when it says levels of PM2.5 came down in Delhi. The ministry has introduced an early-warning system to help it take preemptive action before pollution spikes and it’s planned other measures like deploying more road sweeping machines.

The government acknowledges that more needs to be done, said Harsh Vardhan, the federal minister responsible for the environment and climate change. “We are not claiming that everything is fine now, we can relax now. We’re not relaxing even for a moment.”

Modi’s government has also promoted solar power, improved emission standards and handed out millions of cooking gas canisters to reduce kitchen fires inside homes. Officials have also tried to ban farmers from burning crops.

But environmentalists are still waiting for more concrete targets from a national clean air plan that has yet to be officially launched.

“Any plan at this stage requires reduction targets,” said Anumita Roychowdhury, who’s advocated on air pollution for more than 20 years at New Delhi’s Centre for Science and Environment. “And there has to be a clear compliance strategy.”

There’s an additional challenge.

In India’s chaotic democracy, where poverty and unemployment are often seen as bigger concerns, different branches of government run by competing political parties sometimes have little incentive to collaborate on pollution.

Raghav Chadha, a spokesman for the Aam Aadmi Party that runs New Delhi’s local government, complains his party has limited powers on pollution, and can only take small steps like temporarily banning construction. “What is required is coordination between various states governments under the leadership of the central government,” he said, adding his party has “serious differences” with Modi’s administration.

China, by contrast, had Premier Li Keqiang declare a national war on pollution. The central government also told local officials they wouldn’t get promoted without meeting air quality targets, and the country has sought to move away from polluting industries. Government policies forced millions of homes and businesses to switch from coal to cleanerburning natural gas.

Concent rat ion s of PM 2. 5 plunged 33 percent in Beijing, Tianjin and 26 surrounding cities in last year’s fourth quarter from the previous year.

“Beijing has the capacity to act speedily and decisively, and certainly more efficiently than democracies like the US and India,” says Daniel Gardner, a history professor at Smith College who has written a book on pollution in China.

Tuesday, October 23, 2018 A7

Part Nine

Treachery of the highest order

O

N March 15, 1986, President Cory Aquino, without prior consultation with Vice President Salvador Laurel, Defense Secretary Juan Ponce Enrile and the key participants of the Edsa Revolution, created a Special Cabinet Committee composed of Minister of Justice Neptali Gonzales as chairman and Members of Parliament Luis Villafuerte and Antonio Cuenco, Executive Secretary Joker Arroyo, and Laurel himself, as members, to decide whether the new government would operate outside the 1973 Constitution.

The prime objective was to determine whether the 1973 Constitution would be abolished or not.

Gonzales proposed the abolition of the Constitution and the proclamation of a revolutionary government under a Freedom Constitution.

Enrile strongly opposed the idea and argued that preserving the existing Constitution would ensure political stability throughout the country.

Laurel, likewise, objected to the abolition as he pointed out that the Gonzales proposal would result in a dictatorial government and would exist beyond the ambit of judicial review.

United Democratic Opposition members of Parliament (MPs) supported Laurel and Enrile’s observations and told President Aquino that there was no need to abolish the Parliament because there was a new majority, which was ready to support the new administration.

Based on the minutes of a meeting recorded by lawyers Avelino V. Cruz and Minerva Reyes, the clear consensus was that the Parliament would give the President emergency powers through a proclamation so that she could move on to discharge her mandate effectively along the lines enunciated in Gonzales’s draft of a Freedom Constitution.

As planned, the Parliament stays and reconvenes on May 12, 1986, to adopt the proclamation of emergency powers. At the same time, it would annul the proclamation of President Marcos and Vice Presi-

dent Arturo Tolentino and declare Corazon C. Aquino and Salvador H. Laurel as the duly elected president and vice president, respectively.

The new government would be properly inaugurated and begin to operate under the existing legal framework, subject to the provisions of the Emergency Powers Proclamation under the Freedom Constitution. The Emergency Powers Proclamation would include a complete timetable for full transition to normalcy, including the adoption of a new Constitution and the holding of elections under it.

Accordingly, lawyer Avelino Cruz, representing Executive Secretary Joker Arroyo, lawyer Minerva Reyes, and Deputy Justice Minister Renato Puno, representing Justice Minister Neptali Gonzales, drafted the fast-track plan.

The plan, however, failed to materialize and was never heard of again.

Actually, Malacañang hatched another plan and suddenly executed it without the knowledge of Laurel, Enrile, the rebel officers as well as the majority of the Parliament.

“It was political treachery of the highest order,” Laurel said, adding that a new power group had quietly taken over Malacañang.

Earlier, Laurel and Enrile, with the full knowledge of Mrs. Aquino, had been meeting with the Parliament members, with the help of former Prime Minister Cesar Virata, former Parliament Speaker Nicanor Yniguez, Minority Floor Leader Jose B. Laurel Jr., and all the United Nationalists Democratic Organizations (Unido) MPs,

or members of parliament.

They were able to obtain the commitment of 132 members, a clear majority in the Parliament, with more members willing to join the bandwagon.

Recalling the incident, Laurel said: “We had agreed that the new majority would annul the proclamation of Marcos and Tolentino, that Cory and myself would instead be proclaimed, after which I would be formally installed as Prime Minister. The new majority, likewise, assured me that they would support the entire legislative program to be presented by the Aquino administration.”

Meantime, outgoing Prime Minister Cesar Virata, obviously oblivious of what was happening in Malacañang, formally turned over to Laurel the Office of the Prime Minister in a simple ceremony at the Executive House at 1 p.m., March 25, 1986.

Two hours after the symbolic turnover, President Aquino invited Laurel, Enrile and other Cabinet members to attend a press conference in Malacañan.

Suddenly, Mrs. Aquino proceeded to read Proclamation 3, abolishing the 1973 Constitution, the Parliament, the Supreme Court, the office of the Prime Minister and all national and local positions.

Laurel, Enrile and the rest of the officials present could not believe their ears. President Aquino and her advisers had unilaterally set up a revolutionary government!

Furious and feeling betrayed, Laurel recalled: “It was not only politically reckless but economically disastrous as the country would be pushed back to the martial law years.”

Enrile, Laurel, the rebel officers, as well as the Unido leaders had played a very important role in the ouster of Marcos. They gambled with their lives and gave up so much of their time to bring the new government to power.

Any decision involving no less than the abolition of the Constitution should have at least been discussed and debated with them.

Yet, they were not even consulted.

They felt betrayed and it was too late to complain.

“History,” Laurel said later, “might have taken a different course if President Aquino had not

Neighborhoods are the units of change

Y

By David Brooks | New York Times News Service

OU’VE probably heard the starfish story. There’s a boy on the beach who finds thousands of starfish washed ashore, dying. He picks one up and throws it back into the ocean.

A passer-by asks him what’s the point of that. All these thousands of other starfish are still going to die. “Well,” the boy responds, “I saved that one.”

Many of our social programs are based on that theory of social change. We try to save people one at a time. We pick a promising kid in a neighborhood and give her a scholarship. Social programs and philanthropic efforts cream skim in a thousand ways. Or they mentor one at a time, assuming that the individual is the most important unit of social change.

Obviously it’s possible to do good that way. But you’re not really changing the structures and systems that shape lives.

Maybe the pool story is a better metaphor than the starfish story. As a friend of mine puts it, you can’t clean only the part of the pool you’re swimming in.

It could be that the neighborhood, not the individual, is the essential unit of social change.

If you’re trying to improve lives, maybe you have to think about changing many elements of a single neighborhood, in a systematic way, at a steady pace.

One of the signature facts of the Internet age is that distance is not dead. Place matters as much as ever, and much more than we ever knew.

The typical American adult lives 18 miles from his or her mother.

The typical college student enrolls in a college 13 miles from home. A study of Facebook friends nationwide found that 63 percent of the people we friend live within 100 miles. Americans move less these days, not more.

Work by economist Raj Chetty and others shows that children who grow up in one neighborhood can have drastically different life outcomes than people who grow up in demographically similar neighborhoods nearby. Just take two findings to illustrate a rash of them: On April 1, 2010, 44 percent of low-income black men from the Watts neighborhood of central Los Angeles were incarcerated. But just 6.2 percent of the men who grew up with similar incomes in central Compton were incarcerated on that day.

Central Compton is 2.3 miles from Watts.

L ow-i ncome c h i ld ren who moved at birth from the low upward-mobility area of Seattle’s Central District to the high upwardmobility area of Shoreline earned,

at age 35, $9,000 a year more than those who had made this move in their 20s.

Shoreline is 10 miles from the Central District.

In a classic study, sociologist Eric Klinenberg showed just how important neighborhood is in determining who survives in a crisis.

Klinenberg compared deaths in two Chicago neighborhoods during a heat wave in 1995. More than six times as many people died in North Lawndale as in South Lawndale, even though the two places are demographically comparable.

The fact is that human behavior happens in contagious, networked ways. Suicide, obesity and decreasing social mobility spread as contagions.

When you think in neighborhood terms rather than in individual terms you see things previously rendered invisible. For example, Klinenberg found that fewer people died in South Lawndale in great part because there was more social connection there. Klinenberg’s new book, Palaces for the People, emphasizes the importance of “social infrastructure,” physical places like libraries where people can gather. What do libraries have to do with deaths in a heat wave?

It turns out quite a lot. Libraries nurture relationships among people who check in on one another when crises hit.

Some people say that we have to promote both kinds of change, individual and neighborhood. Of course that’s true, but it’s also what

abolished the 1973 Constitution, and if her avowed objective was to achieve political stability at the earliest possible date, she should have repealed only the highly objectionable Marcos Amendments, particularly Amendment 6, which had clothed himself with legislative powers.

“It was like burning a whole house just to kill a rat!” Laurel was right because when she demolished the infrastructure of dictatorship, she wrecked the entire political structure and thus derailed the application of much-needed solutions to the country’s worsening political, social and economic problems.

Besides, there would have been no need up to now to debate the wisdom of going back to a parliamentary form of government. Or of wasting time and taxpayers’ money arguing whether to amend or revise the flawed Constitution.

Laurel said: “We could have saved precious years and the billions of pesos spent in running the country under a Provisional Constitution, in framing a new but flawed Constitution and in holding expensive local and national elections.

“We could have avoided bitter partisan resentments caused by the arbitrary replacement of elected local officials by favored officers in charge.

“We could have addressed the urgent national problems sooner and gained political stability earlier.”

During the 100-day honeymoon period, Laurel and Enrile, in particular, were systematically eased out of Malacañang’s inner circle. They were no longer invited to Malacañang except for Cabinet meetings. Military intelligence reports that they used to receive every week stopped reaching them.

Something was indeed cooking in Malacañang.

“And stoking the fires,” Laurel recalled, “was the intense power struggle between two camps: one a left-leaning clique bereft of experience in statecraft that hated Enrile and the reformist officers and the other just as inexperienced but allied with big businesses” and the powerful Catholic Church.

To be continued

To reach the writer, e-mail cecilio. arillo@gmail.com

people say when they don’t know how to think in geographic terms and don’t know how to adjust their work to neighborhood realities.

T hink ing in neighborhood terms requires a radical realignment in how you see power structures. Does the neighborhood control its own networks of care, or are there service providers coming down from above? Do the local norms of interaction need to be changed? For example, do people feel it’s normal to knock on a neighbor’s door and visit, or would that be considered a dangerous invasion of privacy? Are there forums where the neighborhood can tell its collective story?

T hink ing in neighborhood terms means radical transformation in how change is done. It means escaping the tyranny of randomized controlled experiments in which one donor funds one program that tries to isolate one leverage point to have “impact.”

It means adjusting the structures of the state so that the neighborhood is an important structure of self-government, rat her t h a n i mposi ng bl a nket programs willy-nilly across neighborhood lines.

The good news is that there are more neighborhood-based programs than there used to be, like the Resident Association of Greater Englewood in Chicago. But we haven’t even begun to sort out the implications of what comes next now that we understand the utter centrality of place.

Editor: Efleda P. Campos

Companies BusinessMirror

Tuesday, October 23, 2018

B1

SM Prime income rises 17% to ₧23.44B in 1st 9 months

By VG Cabuag

S

@villygc

HOPPING-MALL operator SM Prime Holdings Inc. said its net income grew 17 percent to P23.44 billion during the first three quarters of the year, from last year’s P20.05 billion.

Consolidated revenues rose 15 percent to P74.56 billion, from P64.69 billion last year, mainly as a result of new mall openings.

For the third quarter alone, company profits grew 20 percent to P6.82 billion, from P5.66 billion last year, as revenues rose 16 percent to P24.79 billion, from P21.44 billion last year. The company is controlled by the family of Henry Sy. “ Through the solid performances of our core businesses, we are positive we will deliver the net-income growth we committed when we integrated five years ago. We intend to keep this growth trajectory to enrich more

lives in the communities we serve and deliver more sustainable integrated developments for the betterment of our country,” SM Prime President Jeffrey C. Lim said in a statement.

Mall revenues, which accounts for more than half of SM Prime’s nine-month total revenues, recorded a 12-percent increase to P43.26 billion, from P38.58 billion last year.

Mall-rental revenues went up by 12 percent to P36.83 billion from P32.83 billion, backed by the 8-percent growth of same-mallsales driven by new malls opened from 2016 to 2018, located mostly in the provinces.

Cinema and event ticket sales surged by 17 percent to P3.92 billion, from P3.34 billion last year, while mall operating income increased by 12 percent to P23.97 billion, from P21.38 billion.

SM Prime has 78 malls, 71 in the Philippines and seven in China, with a total gross floor area of 9.5 million square meters.

The company opened four malls in the first nine months of the year, including those in Imus in Cavite, Urdaneta in Pangasinan, Telabastagan in Pampanga and Legazpi in Albay. Its branch in Ormoc, Leyte, is scheduled to launch during the fourth quarter of 2018, along with Luxe Duty Free in the Mall of Asia Complex in Pasay.

Meanwhile, its residential group reported a 23-percent growth on its revenue for the first three quarters of the year to P25.26 billion, from P20.50 billion last year. Operating income registered a 34-percent increase to P8.29 billion, from P6.17 billion.

SM Development Corp., the high-rise residential developer, recorded a 25-percent increase in res-

Grab claims ‘95 times safer’ than other modes of land transport

By Lorenz S. Marasigan @lorenzmarasigan

R

IDE-HAILING app Grab is buttressing its safety features even as it was deemed 95 times safer compared to other modes of transportation.

A top official noted further investments are needed to further improve its services.

Monday saw Grab Philippines unveiling a so-called tech road map for safety, which targets both passengers and riders.

Dubbed Safer Everyday Tech Roadmap, the blueprint spells out safety principles and initiatives that will elevate Grab’s bar for safety standards, including number masking for privacy, stringent driver background checks and verification, rider verification, a 24/7 customer-support center and the

use of technology to determine drivers’ fatigue levels.

Brian P. Cu, who heads Grab Philippines, said his group is committed to further elevate the safety standards of Grab, even as he said the platform is 95 times safer than other transport modes, citing data from the Metropolitan Metro Manila Development Authority.

“Safety, for us, is a commitment, and it’s part of our annual budget.

This initiative is not a one-off thing,” he said in a press briefing. “Our passengers and driver-partners deserve a safer ride-sharing industry. We are humbled to raise the bar for safety in the industry.”

For this endeavor, Grab partnered with the Philippine Drug Enforcement Agency, Land Transportation Franchising and Regulator y Board and Philippine National Police–Highway Patrol

Group to strengthen safety processes and standards for drug prevention, and accident and criminal response.

This, Cu explained, will help prevent the use of Grab rides and parcel services for the delivery of illegal drugs, avert road accidents and get a prompt response for any criminal activity, if any.

Grab has also formed a pool of first responders from its driver-partner community to immediately address accidents. Grab vehicles will also be equipped with first-aid kits and safety-training guides.

Cu said the safety measures implemented by Grab aims to help the government achieve its vision of reducing deaths caused by road accidents by 20 percent in 2020. As of end-2017, the government reported 434 fatalities and 19,374 injuries caused by road accidents.

Senators expect third telco by February

By Butch Fernandez

S

@butchfBM

ENATORS sitting in the Committee on Public Services expect the entry “early next year” of a third telecommunication (telco) provider seen to compete with the Smart-Globe duopoly.

“The third telco is expected to bring down rates by early next year,” Sen. Grace Poe, committee chairman, told reporters on Monday. This developed after State regulators called to the hearing also assured the committee “competition will benefit telco users.” Sen. Francis G. Escudero suggested the enabling legislation being crafted by the Poe committee could include a provision that telcos “should go public” at 30 percent in five years.

Interviewed after presiding over the committee hearing on Monday to consider filing legislation on the matter, Poe said: “We saw the Department of Information and Communications Technology’s [DICT] commitment to roll out the third telco.”

“We expect cheaper rates,” she

said, adding “the rates should be equal.” During the hearing, the Senate panel was also assured the selection of a third telco would “be objective, as this will be done by computer.” She added, “The algorithim will determine who is most qualified.”

Among the requirements being lined up is “10 years of national experience” in running a telco.

“It needs to be experienced,” Poe said, adding the third telco would be allowed to tap a foreign partner with 40 percent. Escudero said the enabling legislation for the entry of a third telco should include a provision setting a 90-day deadline to submit all requirements.

“We are looking at a P150-million investment. In five to nine months,

I

they can take subscribers,” Escudero told reporters. “We would like to see developments...we expect a new telco within the first quarter of next year,

by February.” Poe indicated she is relying on the commitments given to the Senate committee by NTC and DICT that the government is on track to pick a third telco, recalling that President Duterte himself acknowledged getting a third telco will give people a choice on who could render better service at less cost.

Sharing concerns aired by Escudero that Smart-Globe’s sharing cell towers may create “an oligopoly,” Poe asserted that whoever is capable of putting up cell towers should be allowed to do so, as long as it abides by regulations to “break up a monopoly.”

ERRATUM

N the banner story headlined “SteelAsia to invest $25B in two wirerod units” in yesterday’s issue of the Companies page, we inadvertently used the amount $25B instead of P25B. We regret the oversight.

ervation sales for the nine-month period to P52.8 billion, from P42.08 billion the previous year. This translates to a 15-percent increase in unit sales to 14,698 units from 12,811 units. SM Prime intends to launch between 15,000 and 18,000 residential units next year.

T he company’s commercial properties group and SM Hotels and Convention Centers posted a combined revenue growth of 7 percent in the first nine months of the year to P6.17 billion, from P5.76 billion in the same period last year.

The group operates 11 office buildings with a total gross floor area of almost 623,000 square meters, which already include the recently launched ThreeE-Com Center in the MOA in September.

It manages six hotels with more than 1,500 rooms, four convention centers and three trade halls.

The company is set to launch the campus-office building named NU Tower, and the FourE-Com Center, both in Pasay City, while Park Inn in Clarkfield, Pampanga, will be expanded. It will also launch two new hotels.

LandBank lowers offer price for PDS shares

By Rea Cu

T

@ReaCuBM

HE Land Bank of the Philippines (LandBank) said its new offer price to buy the majority stake in the Philippine Dealing System Holdings Corp. (PDS) is at P215 per share, from P360 per share earlier in the year.

LandBank President Alex V. Buenaventura said its new offer price of P215 per share was agreed upon by its board members to acquire the majority of the shares of PDS, coming from an earlier offer to buy at P360 per share.

“Yes, LandBank’s new offer to buy is at P215 per PDS share provided any excess over net assets of P980.61 million will accrue to existing owners.

Offer period is up to end-December 2018,” Buenaventura said.

He expressed confidence that majority of the PDS shareholders would still take the offer, pointing out that previously, at an offer price of P360 per share, 43 percent of shareholders were willing to sell their stakes.

“We’re confident they will still accept our offer because before, at P360 [per share], 43 percent already gave their acceptance letters. So we will issue offer letters between now and the end of the month, a lower offer at P215. We hope they will accept; there is no reason why they should

not accept because the premium is the same. Remember, the P360 [per share] is at a P1.5 billion net asset value. They made dividends of P600 million, so we have to revise our offer based on the lower net asset value,” he added.

He said LandBank will issue its offer by the end of this month, and expressed hope that shareholders give their acceptance letters within November, enabling LandBank to get its share target of 66.67 percent by the end of the year.

In August this year, LandBank said it would be releasing its response to the decision of the PDS to accept the bank’s offer to buy shares from its stakeholders at P360 per share.

He said LandBank will have to change the amount it has to offer per share, under its sharepurchase agreement, since the PDS declared on June 28 that it still has dividends amounting to around P600 million.

The declaration was seen to affect negotiations in a way, since the declaration of the dividends will affect the company’s net asset value. The net asset value is the final value of a mutual fund, which is derived by deducting the fund’s liabilities from the market value of all of its shares and then dividing by the number of issued shares.

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Companies BusinessMirror

Tuesday, October 23, 2018

PSE STOCK QUOTATIONS

October 22, 2018

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

ASIA UNITED 59 59.4 59 59.4 58.8 59.4 73510 4347354.5 4324389 BDO UNIBANK 122 122.9 120 123.1 118.5 122.9 1850800 226245088 60123410 BANK PH ISLANDS 83.35 83.6 82.5 83.6 82.1 83.35 1787830 148822429 -79299218.5 CHINABANK 28 28.1 28.65 28.9 28 28.1 218100 6124465 -1290100 EAST WEST BANK 11.66 11.72 11.34 11.76 11.3 11.72 524200 6062040 -3013302 METROBANK 68.7 69 66.5 69 66 69 5301970 359521425 -57138319.5 PBCOM 18.64 19.86 18.64 19.86 18.64 19.86 400 7578 PHIL NATL BANK 41.15 41.55 41.4 41.55 40.9 41.55 27000 1111340 -983415 PSBANK 76.2 78.3 77 78.35 76.2 78.3 500 38605 RCBC 28.4 28.5 28.8 28.8 28.5 28.5 10100 288250 SECURITY BANK 152.5 152.6 152.8 156 151.8 152.6 592250 90835434 11500296 UNION BANK 65.95 66.4 66.4 66.4 65.95 65.95 21390 1414644 -778402 BDO LEASING 2.25 2.51 2.28 2.28 2.2 2.26 33000 73610 COL FINANCIAL 15.7 15.82 15.82 15.82 15.82 15.82 300 4746 FERRONOUX HLDG 3.95 4.12 4.1 4.2 4.1 4.2 13000 53620 FILIPINO FUND 7.81 8.79 7.81 7.81 7.81 7.81 1200 9372 IREMIT 1.6 1.67 1.67 1.67 1.65 1.65 4000 6620 MEDCO HLDG 0.485 0.49 0.485 0.49 0.485 0.49 260000 127050 MANULIFE 790 800 800 800 800 800 40 32000 PHIL STOCK EXCH 185 189 183.6 189.9 183.6 189.9 630 115914 SUN LIFE 1826 1899 1825 1825 1825 1825 90 164250

INDUSTRIAL ALSONS CONS 1.26 1.3 1.27 1.31 1.25 1.3 832000 1048360 ABOITIZ POWER 34.65 34.7 35.1 35.1 34.65 34.7 2117100 73792185 3313250 BASIC ENERGY 0.21 0.22 0.224 0.224 0.224 0.224 10000 2240 ENERGY DEVT 7.19 7.2 7.15 7.2 7.15 7.2 12900 92789 1434 FIRST GEN 15.98 16 15.98 15.98 15.6 15.98 1151500 18204094 -813724 FIRST PHIL HLDG 63.95 64 64 64.1 63.4 64 45750 2927041.5 -1270599 PHIL H2O 4.75 4.92 4.89 4.92 4.75 4.92 45000 216040 42840 MERALCO 351.8 352 346.8 351.8 346.8 351.8 86540 30302742 2479682 MANILA WATER 25.15 25.4 25.3 25.8 25.1 25.15 133100 3361910 -1778465 PETRON 8.3 8.32 8.4 8.4 8.26 8.32 512200 4260136 -1217063 PETROENERGY 4.15 4.25 4.17 4.27 4.15 4.26 147000 620340 PHINMA ENERGY 0.97 0.98 0.96 0.98 0.96 0.97 456000 445720 PHX PETROLEUM 10.7 10.8 10.7 11 10.7 10.8 62500 676370 PILIPINAS SHELL 51.05 51.55 51.5 51.65 51.05 51.05 240520 12348038.5 -7911658.5 SPC POWER 5.18 5.2 5.2 5.2 5.18 5.2 76400 397047 AGRINURTURE 17.86 18.04 18.1 18.14 17.86 18.04 1101900 19823764 14307896 CNTRL AZUCARERA 17 17.68 17.32 17.7 16.8 17.68 3600 61598 CENTURY FOOD 13.38 13.5 13.5 13.52 13.3 13.36 16500 222226 104948 DEL MONTE 7 7.1 7.1 7.1 7 7.1 11300 79422 DNL INDUS 10.74 10.76 10.78 10.82 10.7 10.76 1972300 21231960 4274650 EMPERADOR 7 7.01 7 7.01 6.99 7.01 32400 226781 -69299 SMC FOODANDBEV 84.5 84.8 84.1 84.8 83.75 84.8 736060 62064825.5 -46773452 ALLIANCE SELECT 1 1.01 0.98 1.01 0.96 1.01 6316000 6277630 141720 GINEBRA 24.95 25.85 25.9 25.9 24.95 25.85 900 22730 JOLLIBEE 271.6 272 265 272 263.4 272 699990 186857130 53754374 LIBERTY FLOUR 50 53.9 45 45.1 45 45 520 23410 MACAY HLDG 7.05 13 13 13 13 13 100 1300 MAXS GROUP 11.02 11.2 11 11.2 10.96 11.02 219400 2432210 -1196988 MG HLDG 0.175 0.18 0.179 0.18 0.179 0.18 320000 57470 57470 PEPSI COLA 1.64 1.68 1.65 1.7 1.62 1.7 24000 40620 -10120 SHAKEYS PIZZA 11.2 11.3 11.8 11.8 11.3 11.3 216300 2458910 -2332340 ROXAS AND CO 2.31 2.37 2.32 2.38 2.13 2.37 1136000 2646360 65520 RFM CORP 4.61 4.8 4.8 4.8 4.8 4.8 1200000 5760000 -2160000 UNIV ROBINA 145.1 145.7 145.3 146 145 145.7 551470 80417211 23812565 VITARICH 1.6 1.61 1.63 1.64 1.59 1.61 3162000 5098860 40599.9998 VICTORIAS 2.36 2.45 2.39 2.39 2.39 2.39 80000 191200 191200 CEMEX HLDG 2.33 2.34 2.24 2.38 2.23 2.34 11398000 26,364,760( 10,250,240.0003) DAVINCI CAPITAL 4.11 4.44 4.11 4.11 4.1 4.1 24000 98440 EAGLE CEMENT 14.92 15 14.8 15 14.8 14.92 12300 183442 EEI CORP 8.02 8.18 8 8.18 7.95 8.18 46700 375252 81308 MEGAWIDE 16.84 16.9 17.06 17.06 16.84 16.9 244400 4137828 444126 PHINMA 9 9.04 8.97 9.02 8.95 9.02 70300 633108 TKC METALS 0.9 0.96 0.88 0.97 0.88 0.96 75000 71120 VULCAN INDL 2.66 2.68 2.65 2.73 2.53 2.66 27611000 73140920 738180 CROWN ASIA 1.6 1.61 1.59 1.61 1.59 1.6 237000 379240 9660 EUROMED 1.51 1.69 1.69 1.69 1.68 1.69 15000 25340 LMG CHEMICALS 4.8 4.98 4.79 4.79 4.79 4.79 1000 4790 CONCEPCION 38.7 39.45 38 38.7 38 38.7 300000 11400140 -0 INTEGRATED MICR 11.84 11.88 11.9 11.94 11.88 11.88 278800 3319066 863426 IONICS 1.73 1.77 1.7 1.73 1.7 1.73 53000 90810 PANASONIC 6.03 6.39 6.39 6.39 6.39 6.39 100 639 SFA SEMICON 1.59 1.64 1.57 1.65 1.54 1.64 203000 324800 CIRTEK HLDG 36.4 36.5 36.95 37.45 36.5 36.5 582100 21350910

HOLDING & FRIMS ABACORE CAPITAL 0.46 0.465 0.48 0.49 0.45 0.46 58060000 27140400 767250 ASIABEST GROUP 25.8 26.3 26.4 26.6 25.8 26.3 10600 276550 15590 AYALA CORP 925.5 928.5 910 929.5 910 928.5 226420 210157080 53131875 ABOITIZ EQUITY 47.7 48.9 46.3 49.2 46.3 47.7 1074000 51717510 -6982640 ALLIANCE GLOBAL 12.1 12.12 11.98 12.2 11.8 12.1 6639700 80208414 -16137420 ANSCOR 6.15 6.16 6.16 6.16 6.16 6.16 100 616 ATN HLDG A 1.23 1.24 1.17 1.23 1.16 1.23 5884000 7072270 ATN HLDG B 1.23 1.24 1.18 1.23 1.18 1.23 2463000 2985400 -81990 COSCO CAPITAL 6.97 6.98 6.71 7.01 6.7 6.98 9690500 66952665 -3189427 DMCI HLDG 12.08 12.1 12.34 12.6 12.1 12.1 1019100 12432708 -8283676 FILINVEST DEV 7.05 7.2 7.2 7.22 7.2 7.2 900 6488 GT CAPITAL 774 775 748 775 728.5 775 79660 60755665 7700375 HOUSE OF INV 5.95 6.01 6.01 6.01 6.01 6.01 1800 10818 JG SUMMIT 48.75 48.95 48.3 49 48.1 48.75 1058300 51623705 -14815995 LODESTAR 0.53 0.55 0.55 0.55 0.52 0.55 60000 31310 LOPEZ HLDG 4.4 4.41 4.48 4.48 4.34 4.41 91000 400430 4760 LT GROUP 13.5 13.6 13.4 13.76 13.26 13.5 3075100 41579608 -10835680 MABUHAY HLDG 0.52 0.53 0.52 0.53 0.52 0.52 923000 483460 METRO PAC INV 5.02 5.05 4.92 5.06 4.92 5.05 15157000 76269020 6008810 PACIFICA 0.037 0.038 0.037 0.038 0.037 0.038 3500000 131800 -3800 PRIME ORION 2.34 2.37 2.41 2.41 2.31 2.33 401000 941210 PRIME MEDIA 1.16 1.21 1.19 1.21 1.15 1.21 75000 88250 SOLID GROUP 1.4 1.42 1.4 1.42 1.4 1.42 5000 7080 SM INVESTMENTS 876 878 867 883.5 860 878 145520 127771260 -12601325 SAN MIGUEL CORP 155.9 156 158 159 155.5 156 137330 21489737 -9921945 TOP FRONTIER 276 279.6 280 280 280 280 10 2800 WELLEX INDUS 0.244 0.245 0.235 0.245 0.235 0.244 2280000 553510 73200

PROPERTY ARTHALAND CORP 0.62 0.65 0.62 0.65 0.62 0.65 343000 212960 ANCHOR LAND 11.02 11.88 11.96 11.96 10.86 11.94 5100 58244 AYALA LAND 41.1 41.15 40.9 41.4 40.8 41.15 9223600 379416475 49155515 ARANETA PROP 1.95 1.97 1.97 1.97 1.97 1.97 100000 197000 -72890 BELLE CORP 2.42 2.5 2.37 2.55 2.35 2.42 1489000 3601130 -2889990 A BROWN 0.77 0.78 0.76 0.79 0.76 0.78 335000 260720 CITYLAND DEVT 0.9 0.92 0.89 0.92 0.89 0.92 46000 41170 1780 CROWN EQUITIES 0.219 0.22 0.211 0.219 0.21 0.219 1780000 380350 CEBU HLDG 5.02 5.35 5.14 5.14 5 5 18700 94940 CEB LANDMASTERS 4.37 4.42 4.32 4.42 4.32 4.42 179000 788910 CENTURY PROP 0.415 0.42 0.42 0.425 0.415 0.42 1680000 704300 -478800 CYBER BAY 0.395 0.4 0.395 0.4 0.395 0.4 40000 15850 DOUBLEDRAGON 20.25 20.3 20.15 21.35 20.15 20.25 2897500 58775595 -1216410 DM WENCESLAO 7.98 7.99 7.99 8.08 7.99 7.99 651300 5219175 4035 EMPIRE EAST 0.52 0.54 0.53 0.54 0.52 0.52 91000 47760 FILINVEST LAND 1.44 1.45 1.43 1.46 1.43 1.45 3494000 5048370 297680 GLOBAL ESTATE 1.06 1.07 1.07 1.07 1.06 1.06 264000 282280 -8490 8990 HLDG 7.05 7.09 6.95 7.05 6.93 7.05 264100 1847347 -22416 IRC PROP 2.58 2.59 2.37 2.58 2.35 2.58 38480000 95183000 508420 CITY AND LAND 0.9 0.94 0.9 0.9 0.9 0.9 1000 900 MEGAWORLD 4.48 4.5 4.43 4.5 4.35 4.5 13403000 59308250 3847080 MRC ALLIED 0.59 0.6 0.61 0.61 0.59 0.6 15232000 9148780 52800 PHIL ESTATES 0.41 0.425 0.41 0.415 0.41 0.415 100000 41250 PRIMEX CORP 3.16 3.19 3.21 3.24 3.15 3.19 597000 1900510 -4430 ROBINSONS LAND 20.7 21.25 21.45 21.45 20.55 20.7 684900 14454245 2078985 PHIL REALTY 0.415 0.43 0.41 0.415 0.41 0.415 80000 33050 ROCKWELL 1.94 1.95 1.93 1.94 1.91 1.94 160000 309830 279240 SHANG PROP 3.11 3.18 3.19 3.19 3.11 3.11 22000 69260 15580 STA LUCIA LAND 1.09 1.12 1.11 1.12 1.09 1.12 155000 171610 SM PRIME HLDG 34.75 34.9 34.15 35.3 34.15 34.9 12715400 441414365 -125013535 STARMALLS 5.96 6.04 6 6.05 5.95 5.96 82500 494476 600 SUNTRUST HOME 0.75 0.76 0.75 0.75 0.75 0.75 20000 15000 VISTA LAND 5.32 5.4 5.42 5.45 5.28 5.4 6667300 35701411 -27792363

SERVICES ABS CBN 21.3 21.5 21.3 21.5 21.3 21.3 30200 645030 GMA NETWORK 5.14 5.18 5.15 5.19 5.12 5.14 168600 869009 MLA BRDCASTING 15.02 15.04 15.04 15.04 15.04 15.04 700 10528 GLOBE TELECOM 1979 1998 1940 1998 1926 1998 69055 136395520 53420135 PLDT 1410 1411 1430 1435 1400 1411 34615 49135065 21705950 APOLLO GLOBAL 0.041 0.042 0.04 0.042 0.04 0.041 2100000 86800 -4000 DFNN INC 8 8.45 8.49 8.49 8 8 116000 930204 127707 ISLAND INFO 0.109 0.11 0.106 0.11 0.106 0.109 1090000 117320 JACKSTONES 2.91 3.03 3.04 3.04 3.03 3.03 6000 18210 NOW CORP 5.47 5.48 5.3 5.62 5.15 5.48 3140700 17068574 -470548 TRANSPACIFIC BR 0.53 0.54 0.54 0.54 0.52 0.53 9422000 4987210 -368350 PHILWEB 3.57 3.58 3.64 3.65 3.57 3.58 240000 861200 -422930 2GO GROUP 11.7 11.8 11.3 11.8 11.26 11.7 72000 828970 -17350 ASIAN TERMINALS 13.02 13.4 13.4 13.4 13.4 13.4 200 2680 CEBU AIR 65.45 65.95 64.55 65.9 64.55 65.45 45330 2,963,857.5( 1,948,865.0001) CHELSEA 5.64 5.67 5.67 5.71 5.4 5.67 3239300 17967276 308700 INTL CONTAINER 93.2 93.5 95.2 95.2 93.2 93.2 565690 53055291 -19697028.5 LORENZO SHIPPNG 0.84 0.86 0.85 0.87 0.84 0.86 188000 160030 MACROASIA 18.16 18.18 18.2 18.22 18 18.16 270000 4903240 -684714 METROALLIANCE A 1.32 1.34 1.39 1.39 1.33 1.34 92000 123940 PAL HLDG 8.36 8.39 8.38 8.39 8.35 8.39 6400 53598 -21814 HARBOR STAR 2.85 2.86 2.67 2.85 2.66 2.85 3780000 10479670 -1541640 ACESITE HOTEL 1.3 1.38 1.38 1.38 1.38 1.38 10000 13800 GRAND PLAZA 7.9 14.1 11.32 11.32 11.32 11.32 19400 219608 WATERFRONT 0.59 0.6 0.6 0.61 0.58 0.6 1036000 617580 CENTRO ESCOLAR 7.8 7.99 8 8 8 8 7200 57600 STI HLDG 0.8 0.81 0.78 0.81 0.78 0.8 1621000 1291290 -24100 BERJAYA 1.71 1.72 1.69 1.73 1.67 1.72 1148000 1961420 -167650 BLOOMBERRY 8.78 8.8 8.6 8.96 8.6 8.8 5709100 50380614 -276284 PACIFIC ONLINE 10.58 10.7 10.98 10.98 10.7 10.7 2100 23030 LEISURE AND RES 3.53 3.55 3.56 3.73 3.55 3.55 721000 2580980 -96600 MANILA JOCKEY 5.11 5.29 5.05 5.39 5.05 5.39 400 2064 MELCO RESORTS 7.12 7.15 7.15 7.21 7.11 7.15 6850100 48989895 -455109 PREMIUM LEISURE 0.83 0.84 0.84 0.85 0.83 0.84 1332000 1116790 -24360 TRAVELLERS 5.19 5.2 5.2 5.24 5.19 5.19 227200 1182948 -786337 METRO RETAIL 2.2 2.21 2.25 2.3 2.21 2.21 1102000 2446100 -17810 PUREGOLD 41.55 41.95 40.65 42.2 40.65 41.95 102300 4259345 -398839.9997 ROBINSONS RTL 77.75 78.9 76.6 79.8 75.8 78.9 591140 46242308.5 -9795486.5 PHIL SEVEN CORP 108 109.8 111.9 112 106.6 109.8 1222750 136820026 20198 SSI GROUP 2.65 2.66 2.65 2.7 2.62 2.66 10429000 27742850 12734450 WILCON DEPOT 11.38 11.4 11.2 11.4 11 11.4 1091800 12360272 5167748 APC GROUP 0.435 0.445 0.435 0.45 0.435 0.45 240000 105350 EASYCALL 13.92 14 14.12 14.68 14 14 105900 1494912 -28200 GOLDEN BRIA 303 310 310 310 302 310 720 219200 65100 IPM HLDG 7.65 7.8 7.7 7.7 7.7 7.7 1500 11550 PAXYS 2.91 3.17 3.07 3.17 2.95 3.17 197000 589240 79000 PRMIERE HORIZON 0.345 0.355 0.355 0.355 0.34 0.345 580000 201700 SBS PHIL CORP 6.74 7.19 7.2 7.2 7.2 7.2 200 1440

MINING & OIL ATOK 16 17.48 15.98 17.48 15.98 17.48 4300 70318 APEX MINING 1.58 1.6 1.6 1.62 1.58 1.6 3471000 5534660 -1901000 ABRA MINING 0.0022 0.0023 0.0023 0.0023 0.0022 0.0023 236000000 528400 ATLAS MINING 2.91 2.96 2.89 3 2.88 2.91 831000 2455160 -482310 COAL ASIA HLDG 0.3 0.305 0.3 0.305 0.3 0.305 150000 45550 CENTURY PEAK 1.91 1.92 1.92 1.92 1.91 1.91 187000 358590 DIZON MINES 7.32 7.41 7.41 7.41 7.28 7.41 400 2938 FERRONICKEL 1.82 1.83 1.8 1.83 1.8 1.82 1319000 2403350 -330370 GEOGRACE 0.216 0.219 0.211 0.22 0.211 0.219 990000 215940 LEPANTO A 0.109 0.112 0.11 0.112 0.11 0.112 530000 58800 MANILA MINING A 0.0075 0.0077 0.0075 0.0075 0.0075 0.0075 6000000 45000 MARCVENTURES 1.23 1.29 1.23 1.29 1.23 1.29 22000 27360 NIHAO 1.01 1.06 1.07 1.07 1 1.06 45000 45300 NICKEL ASIA 2.71 2.72 2.72 2.73 2.68 2.71 896000 2423420 -464980 OMICO CORP 0.59 0.62 0.61 0.61 0.6 0.6 174000 104560 ORNTL PENINSULA 1.03 1.04 1.03 1.05 1.02 1.03 879000 904740 PX MINING 3.4 3.41 3.26 3.54 3.26 3.41 5221000 17789430 -6999980 SEMIRARA MINING 28.6 28.65 29 29 28.25 28.6 1181300 34021490 24785295 UNITED PARAGON 0.0061 0.0069 0.0069 0.0069 0.0069 0.0069 4000000 27600 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 14600000 185300 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 100000 1300 -1300 PHILODRILL 0.012 0.013 0.012 0.012 0.011 0.012 41200000 484800 -230400 PHINMA PETRO 4.1 4.2 4.11 4.21 4.05 4.2 150000 613630 41860 PXP ENERGY 16.02 16.14 16.04 16.4 16 16.02 535900 8650466 348413.9998

PREFFERED AC PREF B2 DD PREF SMC FB PREF 2 FGEN PREF G GLO PREF P GTCAP PREF B LR PREF PNX PREF 3B PCOR PREF 2A SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2F SMC PREF 2G SMC PREF 2I

487.2 96.55 990 100.8 471 891 1.01 102.2 1000 75.15 76.9 72.7 74.5 75 74

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

21.4 4.93

489 97 1000 102.9 489 939.5 1.02 105 1010 75.8 76.95 74.5 75 75.2 74.5

489.8 97.6 995 100.8 482.2 890 1.02 102.2 1005 76 77 74.4 74.25 74.8 73.65

489.8 97.9 1000 100.8 482.2 890 1.02 102.2 1005 76 77 74.4 75 75 74.7

487 97 995 100.8 482 890 1.02 102.2 1000 75.15 76.95 74.4 74.25 74.8 73.65

489 97 1000 100.8 482 890 1.02 102.2 1000 75.5 76.95 74.4 75 75 74.7

2170 565160 3690 53000 390 800 308000 120 200 1950 290 300 11010 6950 31600

1059634 54835520 3683000 5342400 187984 712000 314160 12264 200950 146930 22323.5 22320 825592.5 519870 2355120

200950 -12320 -

21.5 5.04

21.05 4.95

21.5 4.95

21.05 4.95

21.5 4.95

13600 80000

291155 396000

162280 -396000

WARRANTS LR WARRANT

2.41

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.8 MAKATI FINANCE 2.67 XURPAS 1.9

2.42

2.45

2.46

2.4

2.41

261000

628180

-

4.87 3 1.92

5 3 1.93

5.01 3 2.01

4.8 3 1.86

4.8 3 1.9

440000 2000 3257000

2147840 6000 6227070

48600 7460

EXHANGE TRADE FUNDS FIRST METRO ETF

108

108.6

107.4

108.7

107.4

108.6

7400

798096

-

Editor: Efleda P. Campos

Entrego spending ₧1B for new sorting facility A YALA-LED logistics firm Entrego Fulfillment Solutions Inc. is spending more than P1 billion through next year to establish a sorting center in southern Metro Manila and invest on technology to drive its operations.

Jose Rene D. Almendras, AC Infra CEO and chairman of Entrego, said the bulk of the amount will be spent for a sorting facility, with a capacity of handling 100,000 packages a day.

The facility will break ground before the end of the year and will be operational by the third quarter

of next year. This will add to its current sorting facilities located in Cavite and in Metro Manila, which also can handle 100,000 parcels a day.

“We are an asset-light and technology-heavy company,” Almendras said during the media launch

AC Energy in talks with investors for another thermal-power asset

By Lenie Lectura

@llectura

A

C Energy Inc. on Monday said it is in discussions with investors for the sale of another thermal-power asset.

“AC Energy has announced its intention to balance its thermal and renewable portfolio and as such, we engaged potential investors/partners for its thermal platform. As you know, AboitizPower has partnered with AC Energy for its Bataan power plants. Other interested investors continue to have discussions with AC Energy for the rest of its thermal portfolio which includes the GNPower Kauswagan plant,” the power arm of conglomerate Ayala Corp. said.

The 4x135-megawatt (MW) coalfired power plant is located in Kauswagan, Lanao del Norte, in Mindanao. The project proponent is GN Power Kauswagan Ltd. Co. AC Energy did not provide additional details.

In September AboitizPower sealed a deal with AC Energy for the purchase of a stake in the latter’s thermal business, AA Thermal Inc., valued at $579.2 million.

The transaction involves the acquisition of a 49-percent voting stake and 60-percent economic interest in

AA Thermal by AboitizPower.

AA Thermal’s assets initially consisted of AC Energy’s limited partnership interests in GNPower Mariveles Coal Plant Ltd. Co., the owner and operator of an operating 2x316 MW coal plant in Mariveles, Bataan, and GNPower Dinginin Co. Ltd., the developer and owner of a 2x668 MW supercritical coal-plant project in Dinginin, Bataan.

AboitizPower and AC Energy are partners in the GNPower projects.

The agreement will increase AboitizPower’s beneficial ownership in the Mariveles project to 78.325 percent, and in the Dinginin project to 70 percent. The Mariveles project has been operating since 2013, while the first unit of the Dinginin project is scheduled to go online in 2019.

AC Energy has around 300 MW of renewable-energy (RE) projects.

The company’s thermal portfolio will decrease from around 1,300 MW to around 800 MW after the sale.

AC Energy’s other thermal asset is the 2x135-MW coal-fired power plant in Calaca, Batangas, under South Luzon Thermal Energy Corp.

By 2025 the company expects to expand its overall energy capacity to more than 5,000 MW, from 1,600 MW currently.

DOE ready to cancel service contract for Colossal Petroleum

T

HE Department of Energy (DOE) is poised to cancel the awarding of a petroleum service contract (PSC) to local firm Colossal Petroleum Corp., an affiliate of listed Coal Asia Holdings Inc., if it will not push through with the exploration.

“We warned them that if they will not be supportive, we will be obliged not to push through with the awarding. That should be very clear,” Energy Undersecretary Donato Marcos said.

Marcos said the DOE will write to Colossal soon. “If they do not comply soon, their proposal may be disqualified.”

Colossal was earlier qualified to explore Area 5, a 576,000-hectare block in waters east of Palawan, and Area 7, a 468,000-hectare block

within the disputed Reed Bank.

Energy Secretary Alfonso G. Cusi said Colossal is not included to follow what Ratio Petroleum Ltd. of Israel did. Ratio was recently awarded a PSC for Area 4 (East Palawan Basin) of the Fifth Philippine Energy Contracting Round (PECR5).

“Ratio agreed it will pursue it whatever ruling—favorable or not—the Supreme Court will issue regarding income-tax interpretation. The problem is Colossal is not in agreement to do what Ratio did. If [Colossal] will not pursue it then we don’t have a choice but to terminate it,” Cusi said.

The SC case Cusi was referring to pertains to the petition for certiorari filed by the Malampaya consortium, which is opposed to the Commission on Audit ruling. Lenie Lectura

of the company, which has been operating for the last six months.

Almendras, however, said the company will mostly invest in technology aimed at disrupting the logistics industry in the country. The company will not buy airplanes, ships, trucks and even motorbikes.

Instead, it has partnered with several companies and other riders to make deliveries, a big shift from the usual practice of one company owning all of the delivery assets and systems.

Entrego is mainly working with businesses for its operations, but Almendras said it plans to serve the customer-to-customer market, targeting the small and medium-sized businesses, possibly by next year.

Entrego has about 45 hubs as of October, covering over 1,500 cit-

MUTUAL FUNDS

ies and municipalities all over the Philippines. Since starting operations, Entrego claimed it is averaging a 99-percent on-time delivery rate nationwide, and even reaches 100 percent on-time delivery in certain areas.

Entrego, established in 2013, was carved out of Zalora Philippines, their in-house logistics platform.

In August, Ayala, through its wholly owned unit AC Infrastructure Holdings Corp. formed a holding company with a German firms Brilliant 1257 GmbH and Co. and Vierte Verwaltungs Kg for the logistics venture. Ayala owns 60 percent of the venture and the rest to its partners. Brilliant is an affiliate of Zalora. VG Cabuag

October 22, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 243.49 -16.53% -1.19% 0% -16.95% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.387 -14.61% 2.79% 1.46% -13.14% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.784 -16.91% -0.18% -0.86% -17.61% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8688 -14.04% N.A. N.A. -14.57% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8037 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.0124 -15.25% -2.85% -0.71% -16.64% MBG EQUITY INVESTMENT FUND, INC. * ****** 109.78 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8056 -16.87% N.A. N.A. -18.85% PAMI EQUITY INDEX FUND, INC.* 47.2987 -15.48% -0.38% N.A. -16.13% PHILAM STRATEGIC GROWTH FUND, INC.* 492.82 -16.1% -1.76% -1% -16.25% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2169 -13.31% 0.45% N.A. -13.34% PHILEQUITY FUND, INC.* 35.4316 -13.02% 0.79% 1.99% -13.78% PHILEQUITY PSE INDEX FUND INC.* 4.7562 -15.58% 0.33% 1.84% -16.18% PHILIPPINE STOCK INDEX FUND CORP.* 793.99 -15.51% 0.07% 1.48% -16.04% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8256 -14.45% -2.22% N.A. -14.63% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9131 -14.06% -0.1% 0.23% -14.56% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9157 -15.71% 0.16% N.A. -16.24% UNITED FUND, INC.* 3.388 -11.48% 1.23% 0.29% -13% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** 106.1674 -15.04% 1.25% N.A. -15.71% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9263 -15.11% 0.36% -1.28% -16.42% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.2268 0.27% N.A. N.A. -3.04% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6102 -13.35% -3.42% -2.41% -13.59% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1511 -12.16% -0.74% -0.31% -12.45% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.4671 -10.45% -3.81% -2.88% -10.93% GREPALIFE BALANCED FUND CORPORATION* **** 1.2779 -12.51% N.A. N.A. -12.17% NCM MUTUAL FUND OF THE PHILS., INC* 1.7948 -9.39% -0.47% -0.43% -9.92% PAMI HORIZON FUND, INC.* 3.4005 -13.5% -2.31% -1.48% -13.21% PHILAM FUND, INC.* 15.294 -13.25% -2.26% -1.54% -12.89% SOLIDARITAS FUND, INC.* ******** 2.0146 -10.38% -0.28% 1.21% -10.15% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.5584 -10.59% -1.01% -0.48% -10.96% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.8994 -11.05% -1.53% N.A. -11.85% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03463 -3.97% -0.69% 1.49% -4.07% PAMI ASIA BALANCED FUND, INC.* $0.9334 -10.22% 0.58% -1.98% -10.85% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.5442 -0.45% 4.22% 2.48% -2.97% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0705 -2.64% N.A. N.A. -3.75% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.24 1.37% 1.78% 1.66% 1.23% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8573 -2.22% -1.18% -0.48% -1.85% COCOLIFE FIXED INCOME FUND, INC.* 2.9434 5.48% 5.32% 5.28% 4.3% EKKLESIA MUTUAL FUND INC.* 2.1132 -0.28% 0.9% 1.04% 0.52% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2122 -0.28% 0.12% 0.49% -0.18% GREPALIFE FIXED INCOME FUND CORP.* P 1.5722 -2.58% -1.14% -0.91% -2.32% PHILAM BOND FUND, INC.* 3.7729 -8.05% -2.39% -1.05% -6.84% PHILEQUITY PESO BOND FUND, INC.*

3.4524 -1.1% -0.67% 0.04% -1.5% SOLDIVO BOND FUND, INC. * 0.8711 -6.69% -2.33% N.A. -5.64% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7493 -1.08% -0.05% 0.4% -1% SUN LIFE PROSPERITY GS FUND, INC.* 1.5297 -1.46% -0.55% 0.03% -1.29% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.77 0.2% 2.1% 3% -0.04% ALFM EURO BOND FUND, INC. * Є213.26 0.16% 1.32% 1.65% -0.22% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1203 -1.16% 0.68% 1.55% -1.22% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -0.8% 0.54% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6899 -4.9% -0.68% 1.1% -4.61% 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* $1.0238 -5.3% -1.7% -2.91% -4.63% PHILAM DOLLAR BOND FUND, INC.* $2.1304 -5.09% -0.03% 2.14% -5.36% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568673 -1.03% 0.81% 1.82% -0.58% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8773 -4.61% 0.35% 1.58% -4.5% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 119.93 2.29% 1.67% 1.44% 1.97% PHILAM MANAGED INCOME FUND, INC.* 1.1717 1.52% 0.29% 0.33% 1.24% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2105 2.44% 2.15% 1.42% 2.11% 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

Editor: Angel R. Calso

The World BusinessMirror

Tuesday, October 23, 2018

B3

John Bolton faces tense talks with Russia over nuclear treaty

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OSCOW—US National Security Adviser John Bolton faces two days of high-tension talks in Moscow beginning on Monday after President Donald J. Trump announced his intention to withdraw from a landmark nuclear weapons treaty.

Trump’s announcement that the United States would leave the Intermediate-Range Nuclear Forces, or INF, treaty brought sharp criticism on Sunday from Russian officials and from former Soviet President Mikhail Gorbachev, who signed the treaty in 1987 with President Ronald Reagan.

Trump said Russia has violated terms of the treaty that prohibit the US and Russia from possessing, producing or test-flying ground-launched nuclear cruise missiles with a range of 500 to 5,500 kilometers (300 to 3,400 miles).

Russia has repeatedly denied allegations that it has produced and tested such a missile.

Deputy Foreign Minister Sergei Ryabkov was quoted as telling state news agency Tass that leaving the treaty “would be a very dangerous step.”

It would “cause the most serious condemnation from all members of the international community who are committed to security and stability.”

Konstatin Kosachev, head of the foreign affairs committee in Russia’s upper house of parliament, said on Facebook that a US withdrawal from the treaty would mean “mankind is facing full chaos in the nuclear weapons sphere.”

“Washington’s desire to turn back politics cannot be supported. Not

only Russia, but also all who cherish the world, especially a world without nuclear weapons, must declare this,” Gorbachev was quoted as telling the Interfax news agency.

Western reaction was mixed.

British Defense Secretary Gavin Williamson said the United Kingdom stands “absolutely resolute” with Washington on the issue and called on the Kremlin to “get its house in order,” according to the Financial Times.

German Foreign Minister Heiko Maas said that Trump’s announcement “raises difficult questions for us and Europe,” but noted that Russia hasn’t cleared up allegations of violating the treaty.

The Kremlin hasn’t directly commented on Trump’s statement, but spokesman Dmitry Peskov said on Sunday that “after the last statements, explanations of the American side will be required.” Bolton and Russian President Vladimir Putin will meet on Tuesday. On Monday, Bolton meets with Foreign Minister Sergey Lavrov.

US Sen. Bob Corker, a member of Trump’s Republican Party, warned that withdrawal from the INF could lead to undoing other arms treaties. But he suggested that Trump’s statement could be aimed at pressuring Moscow rather than a firm determination to

leave the treaty.

“Maybe this is just a move to say, look ... if you don’t straighten up we’re moving out of this,” he said on Sunday on CNN. “And I hope that’s the case.”

Sen. Rand Paul, also a Republican, pointed the finger at Bolton, saying on Fox News that he is likely the one advising Trump to withdraw, and “I don’t think he recognizes the important achievement of Reagan and Gorbachev on this.”

The prospect of withdrawing from the INF adds to the substantial tensions between Washington and Moscow, including allegations of Russian meddling in the 2016 presidential election and sanctions imposed over Russia’s involvement in the eastern Ukraine conflict.

On Friday, the US announced criminal charges against a Russian for alleged attempts to influence next month’s midterm elections.

The treaty helps protect the security of the US and its allies in Europe and the Far East, but has constrained the US from developing new weapons.

The US will begin developing them unless Russia and China agree not to possess or develop the weapons, Trump said. China isn’t a 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.

Trump didn’t provide details about violations. But in 2017, White House national security officials 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 Washington’s nuclear arsenal could provide the US with leverage to try to persuade Russia to come back in line on the arms treaty.

Russia’s Foreign Ministry said in February that the country 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.

Trump’s decision could prove 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.”

In the past, the Obama administration worked to convince Moscow to respect the INF 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. AP

Growing caravan of migrants pushes deeper into Mexico

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APACHULA, Mexico—Thousands of Honduran migrants hoping to reach the United States stretched out on rain-soaked sidewalks, benches and public plazas in the southern Mexico city of Tapachula, worn down by another day’s march under a blazing sun.

Keeping together for strength and safety in numbers, some huddled under a metal roof in the city’s main plaza on Sunday night. Others lay exhausted in the open air, with only thin sheets of plastic to protect them from ground soggy from an intense evening shower.

Some didn’t even have a bit of plastic yet. “We are going to sleep here in the street, because we have nothing else,” said Jose Mejia, 42, a father of four

from the Honduran city of San Pedro Sula. “We have to sleep on the sidewalk, and tomorrow wake up and keep walking. We’ll get a piece of plastic to cover ourselves if it rains again.”

Adela Echeverria, 52, a single mother of three, teared up as she spoke about her plight.

“One of my companions went to look for some plastic,” she said. “We are used to sleeping like this, taking care of each other. We don’t want to be separated.”

The group’s advance has drawn strong criticism from US President Donald J. Trump, who lashed out again on Sunday at the Democratic Party over what he apparently sees as a winning issue for Republicans a little over two weeks ahead of midterm elections.

After blaming the Democrats for “weak laws” on immigration a few days earlier, Trump said via Twitter: “The Caravans are a disgrace to the Democrat party. Change the immigration laws NOW!” In another tweet, he said the migrants would not be allowed into the US. Mexican President-elect Andres Manuel Lopez Obrador suggested on Sunday that the United States, Canada and Mexico work out a joint plan for funding development in the poor areas of Central America and southern Mexico. “In this way we

confront the phenomenon of migration, because he who leaves his town does not leave for pleasure but out of necessity,” said Lopez Obrador, who takes office on December 1.

The migrant caravan, which started out more than a week ago with less than 200 participants, has drawn additional people along the way, and it swelled to an estimated 5,000 on Sunday after many migrants found ways to cross from Guatemala into southern Mexico as police blocked the official crossing point. AP

B4 Tuesday, October 23, 2018

PARTY THE NIGHT AWAY AT MIMOSA

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UEST Plus Conference Center Clark is celebrating Oktoberfest and Halloween in one grand street party event. The moonlight party at Mimosa, happening on October 31, will surely be a night of fun and drinks as you and your friends party all through the night.

For an entrance fee of P999, the ticket is already consumable in which you can avail yourself of various Quest Plus booth setups around the grounds of Quest Plus Clark. With the street-party setup and chill vibe, a variety of concessionaires will also be present for this party under the moonlight.

Be sure to bring your dancing shoes as the entertainment is ready to make you dance the night away. Kicking off the event is Filinvest’s resident DJ Wicked Adobo to set the mood. The program will be hosted by comedienne Top Jim Babies, who will make sure there won’t be a dull moment all evening.

As the party peaks, Pampanga’s very own Pink Tamaraw is set to entertain the crowd and engage the party revelers to a night of unlimited fun and music. DJ Masta Bone will also be playing his sets until dawn.

Get your tickets now, tag along your friends and get ready to party under the moonlight!

For reservations and inquiries, visit www. questhotelsandresorts.com/clark.

P.S.I.D., LA EUROPA INK JOINT EXHIBIT DEAL The Philippine School of Interior Design (PSID) Advanced Class of 2018 and La Europa team up for Juxtapose: Espasyo at Panahon, a PSID graduation exhibit slated for the entire month of October at Rockwell’s Santolan Town Plaza in San Juan City. Focusing on adaptive reuse, the exhibit showcases 17 exquisitely curated spaces that challenges the audience, proponents of the conservation of cultural heritage and developers to find creative solutions in the restoration and rehabilitation of historic structures. Present at the contract signing are (from left) La Europa Sales Manager Marlowe Zamora, PSID Advanced Class of 2018 Batch President Andrew Nieves, and La Europa Marketing Head Dorcas Santiago.

LANDBANK KICKS OFF THIRD FINANCIAL INCLUSION CARAVAN IN LAGUNA, LA UNION

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OOKING to further its stride in reaching the unbanked and underserved hard-to-reach parts of the country, the Land Bank of the Philippines (LandBank) commenced its Financial Inclusion (FI) Caravan Year 3 with simultaneous events in San Gabriel, La Union, and Santa Cruz, Laguna.

A combined 900 participants from both sites benefited from the first leg of the nationwide caravan. These include small business owners, farmers and fishers, and beneficiaries of 4Ps. “We decided to conduct the Financial Inclusion Caravan for the third year because we have seen its impact on the communities that we previously visited. Hopefully, this year, we would be able to encourage more people to save and help them be more financially literate,” said LandBank

President and Chief Executive Officer Alex V. Buenaventura.

Aside from the series of talks on saving, livelihood opportunities and formal banking products, LandBank also gave away preloaded ATM accounts called “ATM Ipon Account” to encourage the participants to open their own savings accounts.

Exclusive to the FI Caravan participants, the ATM Ipon Account is designed to ease the burden of account holders through its special features, such as zero initial deposit, no minimum balance, waived dormancy fees, among others.

Out of the 592 pre-determined ATM Ipon account beneficiaries by the local government, nearly 550 participated and opened their savings accounts on the spot during the FI Caravan in San Gabriel, La Union. Various booths were also put up

in the venue to assist the attendees in their queries. These include an ATM and cash-deposit machine to acquaint the participants with the use of the machines.

“I am thankful for LandBank for promoting financial literacy in a fourthclass municipality like ours. This initiative complements the efforts of the local government to improve the economic wellbeing of the people of San Gabriel,” said San Gabriel Mayor Herminigildo M. Velasco.

The FI Caravan in Santa Cruz Laguna, on the other hand, was attended by 600 participants from different sectors, such as agriculture, fishery, and small and medium enterprises. All 600 opened their own savings account during the event as well.

Aside from the livelihood booths, a lending center booth was also put up to promote LandBank’s inclusive banking programs, such as the accessible and sustainable lending program for small farmers, market vendors’ inclusive lending program, and public-utility vehicle modernization program.

The La Union and Laguna legs are the first two out of ten areas included in FI Caravan Year 3, which will run until the first quarter of 2019. Other areas are Limay, Bataan; Tantangan, South Cotabato; Muntinlupa City; Jala-Jala, Rizal; Don Salvador Benedicto, Negros Occidental; Burauen, Tacloban, Leyte; Valenzuela City; and, Gipos, Manuel Roxas, Zamboanga City.

By Tim Reynolds The Associated Press

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ATIONAL Basketball Association (NBA) Commissioner Adam Silver wants more women throughout the league. He’s getting his wish.

In recent days, two significant moves were made, with Kristi Toliver being added to Washington’s staff of assistant coaches, and Chasity Melvin getting hired as an assistant coach with Charlotte’s G League affiliate in Greensboro, North Carolina.

Those hires are signs of progress.

Few seemed to notice, which also is not all bad.

Women are becoming a bigger part of the league now than ever before. The hires of Toliver and Melvin were not overlooked; it just no longer seems like such an unusual thing to bring a woman into the fray of an NBA club, probably because the likes of San Antonio assistant Becky Hammon, former Sacramento assistant Nancy Lieberman, Dallas assistant Jenny Boucek, Clippers G League assistant Natalie Nakase and Memphis analyst Nicki Gross took care of the first wave of trailblazing.

“I think it’s great and I think it’s great for the NBA,” said Charlotte’s James Borrego, the league’s first Hispanic full-time coach. “It speaks to our league, the diversity, the openness, the inclusion and I’m proud to be part of that, part of a league that’s open to that. I’ve been around Becky Hammon for a number of years now. These are bright women that belong in our league.”

Certainly, there’s much more progress to be made, including in business offices around the league—as well as on the sidelines.

There’s never been a female NBA head coach, though Hammon—a longtime part of the staff in San Antonio, where Borrego was before taking the Charlotte job—seems on the cusp of breaking that glass ceiling. Only three women have been hired as full-time NBA referees, though Natalie Sago and Ashley Moyer-Gleich will get games this season and are already highly respected by many peers.

Borrego expects the number of women in the league to increase.

“They’re here to stay,” Borrego said. “That’s not going anywhere. It’s only going to trend in that direction.”

WOMEN MAKE WAVES IN NBA

Sports BusinessMirror

SCORING UP

IF you think there’s been a lot more scoring than usual in the NBA this season, you’re right.

Granted, six days of basketball is a small— and statistically insignificant—sample size in a six-month season. But teams averaged 106.3 points per game last season, and they’re off to an average of 113.3 points so far this season.

Should that average somehow hold up over the course of a full season, it would be the league’s highest since teams averaged 116.7 points in 19691970.

C1

| Tuesday, October 23, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NBA suspends Ingram, Rondo, Paul in Lakers-Rockets dustup

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NBA RESULTS Atlanta 133, Cleveland 111 Sacramento 131, Oklahoma City 120 Denver 100, Golden State 98 LA Clippers 115, Houston 112 HORNETS Coach James Borrego: Hiring female coaches shows the National Basketball Association is trending the right way. AP

“This is a new age of basketball and this is where we are,” Dallas Coach Rick Carlisle said.

“The days of games in the 80s are probably done. Everything’s spread out. It’s freedom of movement. There’s four attackers and oftentimes five three-point shooters and there are missiles flying everywhere.”

For perspective: There were eight instances in October 2017 of teams scoring 130 or more points. So far in October 2018, there’s been nine—with 10 days of play left this month.

But big numbers hasn’t meant every game is a rout. There’s already been 12 games this season decided by three points or less.

OS ANGELES—Lakers teammates Brandon Ingram and Rajon Rondo and Chris Paul of the Rockets were suspended without pay on Sunday for an on-court fight, with Paul taking the heaviest financial hit.

Ingram was suspended four games, Rondo will sit out three games and Paul two games. The National Basketball Association (NBA) handed down the punishments a day after the incident in the fourth quarter at Staples Center.

The penalty was costliest to Paul, who has the highest salary of the trio and was fined a total of $491,782. Paul is president of the NBA Players’ Association. He began serving his suspension on Sunday night and wasn’t at the arena when the Rockets lost to the Clippers, 115-112. Rondo will be docked a total of $186,207, while Ingram’s total is $158,816.

Houston Coach Mike D’Antoni disagreed with the severity of Paul’s penalty.

“It’s just not equitable,” he said. “If you

wanted to suspend him one [game] I get it, just to make a statement. Then you’re talking monetarily, he’s paying three times more than the other guys are paying for missing games?

That doesn’t seem to be right.”

Ingram and Rondo will start their suspensions on Monday night, when the Lakers host the San Antonio Spurs.

The league said Ingram was suspended for aggressively escalating the altercation and throwing a punch in the direction of Paul, confronting referee Jason Phillips in a hostile manner, and instigating the overall incident by shoving Rockets guard James Harden.

“It is what it is,” Harden said. “I don’t know how to decide how many games.”

Eric Gordon, who started in place of Paul against the Clippers, defended his teammate, saying, “If somebody is attacking you, you got to somewhat protect yourself.”

Rondo was suspended for instigating a physical altercation with Paul, and spitting and throwing multiple punches at the Rockets star. Paul was suspended for poking at and making contact Rondo’s face and throwing multiple punches at him.

“What is he supposed to do? Just stand there and get spit on and then take a punch in the face

and say, ‘Well, that’s OK,’” said D’Antoni, who called Rondo’s spitting “pretty disgusting.”

“In the heat of the moment when somebody does that, that’s tough, that’s really tough,” D’Antoni said.

The Rockets led 109-108 with 4:13 remaining when Ingram fouled Harden and then shoved him and confronted Phillips after getting a technical foul.

Ingram, Paul and Rondo were all ejected.

Houston won 124-115, spoiling the Lakers’ home debut for LeBron James.

“We don’t want this to happen again,” said NBA Executive Vice President Kiki VanDeWeghe, who handed down the penalties. “[We are] sending a clear message that this is not acceptable behavior and you cannot do this. So in this particular instance, the multiple-game suspensions are pretty severe both to their teams and financially to the players.”

The suspension to Ingram is the longest for an on-court incident since April 2012, when Metta World Peace of the Lakers received seven games. World Peace elbowed Harden, who was then playing for Oklahoma City, in a game also at Staples Center to earn that penalty, the irony being Harden is the

NO POLITICS HERE

G LEAGUE CHANGES

OVER the next few weeks, more details will likely come out about the G League’s plan to offer $125,000 contracts to elite prospects who aren’t yet eligible for the NBA draft.

Much of the details remain unclear: who will get them, how they’ll get them, how many deals will be offered.

Another murky part of all this is how the players will be assigned to teams.

What would make the most sense is for the G League to go back into the NBA’s past for an answer there. The last territorial pick in the NBA was in 1965, but that’s the road the G League needs to go down now. For a league that’s still looking to grow, imagine the possibilities of putting a potential star with plenty of potential near his hometown. It’ll generate interest, which the G League surely could use.

MILESTONE WATCH

SPURS Coach Gregg Popovich enters this week two wins shy of 1,200 for his regular-season career. He’ll be the fifth NBA coach to reach that milestone.

THE National Basketball Association hands down the punishments a day after the incident in the fourth quarter at Staples Center. AP

A CONTESTANT exercises backstage during the National Amateur Body Builders’ Association competition in Tel Aviv, Israel. AP

one who Ingram fouled to start Saturday’s fracas.

There have been longer suspensions in recent years, but none for an on-court altercation than what Ingram got.

“We have so few of these and we’re very lucky in that regard,” VanDeWeghe said. “This game is played with a lot of passion and it’s an aggressive game and obviously there is contact in the game. Our players play with a lot of respect for each other and for everybody else.”

With Paul and Rondo, that hasn’t always been the case.

They have a history of raising the ire of the other, going back to at least 2009 during a BostonNew Orleans game. Rondo was with the Celtics and Paul with the Hornets when players from both sides had to get between the two point guards as tempers seemed to flare after a game where they got tangled up in the second quarter.

VanDeWeghe clearly indicated that Rondo did not acknowledge spitting on Paul.

“Rajon has his own view of what happened,” VanDeWeghe said. “I think that we had a clear view that, however you want to interpret it, that there was a spitting in Chris Paul’s direction. I think I’m going to leave it at that.” AP

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EL AVIV, Israel—Dozens of glistening competitors took the stage for an annual body building and fitness competition in Tel Aviv last week. But behind the scenes, machismo made way for cooperation.

Just short of 80 contestants participated in 14 categories at this year’s Israel’s National Amateur Body Builders’ Association competition.

Backstage, the mood was one of camaraderie. In the run up to the flex-off, Jews and Arabs, male and female, young and old from around the country, worked together ahead of the big show.

“There is no politics whatsoever in the sport,” said Yoni Hanna, president of the Israeli chapter of the National Amateur Body Builders’ Association.

Exhausted from weeks of strict dieting and last-minute exertions, the muscle-bound athletes primped, painted and prepped before taking the stage. Some waited over eight hours for their chance to strut their stuff before the panel of judges.

This year’s men’s winner, 25-year-old Or Magdasi of Tel Aviv, beamed, veins bulging, as he lifted his trophy. Isabell Svatovich was awarded her second consecutive championship in the competition.

Magdasi will get a shot at representing Israel at the 2019 Mr. Universe competition in the United Kingdom.

Hanna, also a former Mr. Israel, says there has been growing interest in fitness and body building in Israel in recent years, and that turnout at this year’s competition far exceeded expectations. AP

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Business

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TIO HAS EYES ON PARIS ’24

By Ramon Rafael Bonilla

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FTER clinching the country’s first silver medal in the Youth Olympic Games (YOG), 17-yearold kiteboarder Christian Tio has set his sights on a higher goal—a gold in the Paris 2024 Olympic Games where the watersport is making its debut as a medal event.

“Kiteboarding will be an Olympic sport in 2024 in Paris—and that’s part of the plan,” Tio told a press conference on Monday at Rizal Memorial Sports Complex where he and the other Buenos Aires YOG medalists were presented by Philippine Sports

Commission Commissioners Arnold Agustin and Celia Kiram.

But before plunging back to training, Tio will be savoring a P2.5-million cash incentive for his silver under the expanded Republic Act 10699, or the National Athletes and Coaches Benefits and Incentive Act. Tio and the medalists in the Jakarta 2018 Asian Para Games will receive their bonuses from the government in formal ceremonies in Malacañang next month.

“I got six more years to prepare and get better every day,” added the FilipinoNorwegian Tio, who was joined by his mother Liezl Mohn and Chef de Mission to the YOG Jonne Go, also the president of

the Philippine Canoe Kayak Dragonboat Federation.

Agustin congratulated Tio “for giving the Philippines its first medal in the Youth Olympic Games” and assured him of the PSC’s full support in his campaign for Paris 2024.

Slovenia’s Toni Vodisek won the gold and Dominican Republic’s Deury Corniel won the men’s twin tip racing gold and silver, respectively, in Buenos Aires.

Tio said he did not exactly expected to land a medal in Argentina.

“With all the postponements happening for the finals race because of the inclement weather, I was already expecting a fourthplace finish or just a bronze. But I just

Aces guard Banchero named Player of the Week

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HRIS BANCHERO’S scintillating performance in Alaska’s last two games earned him the CignalPhilippine Basketball Association (PBA) Press Corps Player of the Week for the period October 5 to 21 in the Governors’ Cup. The stocky Alaska guard stood at the forefront of the Aces’ surge to register back-to-back wins, grabbing a piece of the lead in the team standings with Ginebra and Magnolia, while closing in for a twice-to-beat edge in the playoffs.

The 29-year-old Banchero averaged 19 points, seven assists and 5.5 rebounds this past week, leading Alaska to victories over Columbian, 104-94, and Blackwater, 116-109, as the Aces forged a three-way tie at the top

spot with a 7-2 win-loss record.

Alaska’s fifth overall pick in the 2014 Rookie Draft registered a near triple-double effort of 10 points, 11 assists and seven rebounds to serve as a catalyst in their 10-point win over the Dyip.

Then last Sunday, Banchero, the third conference’s assist leader, went beast mode on offense and fired a new PBA career-high 28 points on 12-of-16 shooting to help Alaska outlast Blackwater.

The Filipino-Italian guard edged Meralco Fil-American players Cliff Hodge and Chris Newsome, as well as San Miguel stalwart Chris Ross and rookie Christian Standhardinger for the weekly citation.

KITEBOARDER Christian Tio has six years to prepare for Paris.

went all in and made it through,” said the Boracay-native.

“I am very proud of Christian for what he’s achieved,” said his mother Liezl, a kiteboarder herself who introduced Tio to the sport when he was only seven years old.

Go intimated that she banked on Tio for a medal he qualified for the YOG. “I looked over his credentials and had a gut-feel he will deliver,” Go said.

Tio said that with the Philippines surrounded by thousands of kilometers of beaches, the country could be the next hotbed for extreme water sports.

Growing up near the beachfront of the world-renowned tourist destination became a great advantage for Tio to harness his skills in the sport. And he encouraged more Filipinos to try the sport.

“Hopefully more will enter the sport and it will get much bigger because we have many islands,” he said.

Tio trained for one month in Dominican Republic to acclimatize and adjust to the time zone in South America.

ACTION heats up in a ladies open contest in Iligan City.

Tangub, Gomer top Iligan City bootfest

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ANGUB Football Team topped the men’s open and Gomer Footbal Club (FC) ruled the ladies open to lead the roster of winners in the recent Third Congressman Frederick W. Siao Football Festival at the Ludo Football Field in Sitio Bayug in Barangay Santiago in Iligan City.

Gomer FC also topped the under-14 and under-16 categories in the tournament staged in conjunction with the city’s Diyandi Festival.

The other winners in the tournament that drew 1,100 players from more than 100 teams were Samburon FC (under-10), Iligan Medical Center College Rhinos (under-12) and Eastern

Iligan FC (35-above).

Iligan City is within the jurisdiction of the Iligan-Lanao de Norte-Lanao del Sur Regional Football Association of the Philippine Football Federation (PFF). The city has long been a growth center of grassroots football in Mindanao.

On February 17 Iligan City hosted the First Unity Cup Football Festival also at the Camp Ludo Football Field. Competitions were featured in the Mixed 10U, Boys 12U, 14U and 16U, as well as in the Men’s and Women’s Open and Men’s 35-above.

MEMBERS of the victorious Mighty SportsPrudential Guarantee—managed by Caesar Wongchuking, Den Coyiuto and Willie Ocier—pose after winning the Open Division at the expense of Embassy Whisky, 83-72, in the Xavier School Alumni Basketball League over the weekend with Charles Tiu scoring 34 points to emerge as the Final Most Valuable Player.

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HARLES TIU put on a one-man show right in the first quarter as Mighty Sports-Prudential Guarantee won an unprecedented fourth straight Cortina Conference Division 1 title in the Xavier School Alumni Basketball League with an 83-72 win over Embassy Whisky last Sunday at the Cortina Gym of Xavier School.

The coach of Mighty Sports in the Merlion Cup and a sports analyst of CNN, Tiu outscored the entire Embassy Whisky team by sinking 27 of the team’s 30 points in the first quarter. He

TIU DISPLAYS ALL-AROUND HOOPS SAVVY nailed seven triples in the first seven minutes.

Tiu’s remarkable shooting threw Embassy out of its comfort zone and failed to keep pace with the Caesar Wonghuking-managed Mighty Sports-Prudential Guarantee squad in the annual alumni tournament. Also backing the team are Den Coyiuto and Willie Ocier.

“Everybody played well but it was Charles who started it all,” coach Mike Fermin said.

“He was so hot, he deserved to be the Most Valuable Player.”

The win enabled the Go for Gold-backed

Mighty Sports-Prudential Guarantee to complete another successful year as it won undefeated.

Taking a cue from Tiu, Joseph Yeo and TY Tang made several highlight moves in the next three quarters to frustrate Embassy’s repeated rallies.

Tiu went on to finish with 34 points and emerged as the Final MVP. Tang and Yeo, whose partnership with Rain or Shine star Chris Tiu—Charles’s older brother—in the 1990s earned Xavier numerous titles— finished with 18 and 15 points, respectively, with Tiu dishing off eight assists.

PROVINCIAL TEAMS JOIN 3X3 GOLDEN LEAGUE

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HE 3x3 Golden League Manila 2018 set this Friday up to Sunday has drawn participants from the provinces.

Tournament commissioner Allan Caidic said teams from Cavite, Rizal, Laguna, Nueva Ecija and Camarines Sur are among those that confirmed their participation in the league, jointly organized by Mediapro Asia and Sina Sports.

“We are happy with the turnout of provincial teams that will be joining the

tournament as we want to develop 3x3 players in the countryside,” Caidic said.

Besides the provincial teams, a guest team from Tibet in Aba Prefecture, a winner of the Chengdu leg of the Sina 3x3 Golden League China, secured one of the 128 slots available in the tournament.

Registration is still open for the tournament whose preliminary matches will be held on Saturday and Sunday at the historic

Dumlao Sports Center in Mandaluyong City, with the playoffs and final set on Sunday at the Ayala Circuit Manila.

The champion will take home $3,000 and will earn the right to represent the Philippines in the Sina 3x3 International Elite League set from November 13 to 17 in Beijing.

All expenses will be paid. For details, visit facebook.com/3x3GoldenLeagueManila and facebook.com/nblphil.

Blazing start for Blu Boys

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COURTESY CALL

Philippine Sports Commission (PSC) Secretariat team members—Sports Development Officer Zenaida Rollon (second from right) and IT Chief Rovilyn Gofredo (second from left) pay a courtesy call on Chargé d’Affaires Pete Raymond Delfin (center) of the Philippine Embassy in Brunei Darussalam. The PSC, through Commissioner Charles Maxey, handles the country’s participation in the 10th Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area Friendship Games in December.

HE Philippine Blu Boys collected five victories against one defeat to dominate their opponents in the ongoing Makassar Open International Men and Women Softball Tournament in Makassar, Indonesia.

The Blu Boys escaped Bedford (Australia), 10-9, in their first match, but lost to New Zealand, 1-5.

The Filipinos quickly bounced back and shut out Piccadilly (New Zealand), 3-0; Lakidende (Malaysia), 1-0; and Pirates (Indonesia), 10-0, before holding off Bedford, 6-3.

“This is another testament to the talent of Filipinos when it comes to softball. The Blu Boys are definitely a force to reckon with in the international scene,” said Jean Henri Lhuillier, Amateur Softball Association of the Philippines president.

orts

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Tuesday, October 23, 2018

HEALTH ISSUES BUG LADY REALTORS

NU’s Nabalan shares spotlight with Kouame

SAM GILLIS (left) exudes confidence, while Tim Stewart and the rest of the foreign field will be as much tested.

U.S., AUSSIE BETS UPBEAT

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HE seventh weekend of the University Athletic Association of the Philippines (UAAP) Season 81 men’s basketball tournament saw multiple record-setting performances from the league’s finest studentathletes.

But two players from the two defending champion squads shone the brightest, as Ria Nabalan of National University (NU) and Angelo Kouame of Ateneo de Manila put up individual performances that will forever be part of league history.

With this, the men and women covering the beat from both print and online have decided to award the Collegiate Sports Press Corps UAAP Player of the Week award to both Nabalan and Kouame—the first time the body has given the weekly honor to two players.

Nabalan—the first female to win the award—dropped a whopping 40 points on 14-of-23 shooting to lead the reigning four-time champion Lady Bulldogss to their 72nd straight win, just a win away from tying the seniors record for the longest winning streak.

Even her head coach Patrick Aquino was delighted to be a witness to that moment.

“I’m so happy that everything is falling for [Nabalan]. It’s only a once-in-a-lifetime that she gets 40 points,” Aquino beamed after NU’s 111-64 win over the De La Salle Lady Archers last Saturday.

How rare was it?

Only two other players have ever reached the 40-point mark in women’s basketball. Far Eastern University’s Raiza Palmera first achieved the feat in 2011 with 44 points in an 85-80 win over University of the East (UE). A year later, fellow Lady Tamaraw Allana Lim scored 45 points in another rout of UE, 85-43.

Later in the day, Kouame made history of his own.

The absences of Thirdy Ravena and Nieto twins Mike and Matt were hardly felt by the defending men’s champions in their game against the FEU as the 6-foot-10 Ivorian finished with a 30-point, 20-rebound game to lead Ateneo to a dominant 82-62 victory.

Kouame had an imposing 33-point, 27-rebound double-double that was the first of its kind since 2008. Former Blue Eagle Rabeh Al-Hussaini last made the feat in July 31, 2008, registering 33 points and 20 rebounds in Ateneo’s 66-72 loss to FEU. Moreover, his rebounding total was the most the league has seen in 15 years, while his points scored was the most for a Blue Eagle in four years.

But even with this kind of outing, Ateneo’s staff believes that Kouame is only scratching the surface of his potential.

“We’re very happy with his development and we’d like to think of it that he’ll still continue to improve,” Ateneo assistant coach Sandy Arespacochaga said.

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ESPITE some health issues, Sta. Lucia is still tipped to go all out when the Philippine Superliga (PSL) All-Filipino Conference unwraps this weekend at the Filoil Flying V Centre.

Head Coach George Pascua said his top spiker in Filipino-American MJ Philips and Chin Basas are still nursing various injuries few days before the seasonending conference of the women’s club tournament bankrolled

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HE Philippine Golf Tour Asia (PGTA) resumes on Tuesday with the Central Azucarera de Tarlac (CAT) Open featuring a stellar field bannered by the local top guns and toughened up by a slew of foreign aces all primed up for the $100,000 event at the Luisita Golf and Country Club in Tarlac.

Sam Gillis, for one, exudes confidence coming off a playoff victory in Malaysia last week, leading a crack US contingent that includes regular PGTA campaigners John Michael O’Toole, Lexus Keoninh, Nicolas Paez, Andy Kang, Sydney Chung, Charles Lee, Cory Oride, Pete Vilairatana and Joshua Salah.

The Australians will be as much tested as the Americans with the likes of Tim Stewart, Nathan Park, Jack Sullivan, Nabil Abdul, Jeram Chudleigh, Calum Juniper and Simon Vitankangas setting out to keep their compatriots’ remarkable showing in the first five legs of the second season of the region’s newest circuit put up by ICTSI. David Gleeson nipped local bet Erwin Arcillas in a playoff to rule the PGTA’s kickoff

leg here last April, while Damien Jordan dominated the Aboitiz Invitational at Orchard last month, victories that should serve as impetus for Stewart and company to accomplish their mission this week.

Stewart actually fell short of his title bid in last week’s ICTSI Luisita Invitational won

by Clyde Mondilla, finishing tied for second with Macedonian Peter Stojanovski, another foreign ace tipped to contend for the $17,500 purse in the 72-hole championship serving as the sixth leg of this year’s PGTA put up to raise the level of the Filipino golfers’ games, and at the same time, make the country a major golfing destination.

O’Toole also finished second to Jay Bayron in PGTA Southwoods last June with the 25-year-old American raring to finally end a string of heartbreakers in the local circuit organized by Pilipinas Golf Tournaments Inc. and backed by ICTSI, Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology Inc. While Mondilla has hinted at the locals’

domination of the event owing to their local knowledge and form, the 51-player strong foreign contingent is also ready to slug it out with the Filipino top guns, guaranteeing a fierce duel of shotmaking, iron play and putting on a course that puts premium on accuracy.

Gillis, meanwhile, hopes to cash in on an early start to get his title bid going, as he mixes it up with Johvanie Abaño and Korean Lee Sangun at 7 a.m. on No. 1 with O’Toole drawing Bayron and Albin Engino in the 7:40 a.m. group, also on the opening hole.

Mondilla drew a late start at 11:40 a.m. on No. 1 with Englishman Matt Killen and Reymon Jaraula, hoping to duplicate his record-setting 64 in kicking off his title romp here last week.

Justin Quiban, who nailed his breakthrough win in his event last year, opens his title-retention drive at 7:50 a.m. on No. 1 against Keanu Jahns and Tawit Polthai, one of the five Thais also expected to figure in the title race along with veteran campaigner Wisut Artjanawat and Nirun Sae-ueng.

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ATIONAL University (NU) completed a back-to-back weekend sweep to become the only undefeated boys team in the University Athletic Association of the Philippines Season 81 high-school volleyball tournament over the weekend at the Blue Eagle Gym. NU topped University of the Philippines Integrated School (UPIS), 25-18, 25-12, 25-15, last Saturday and turned back De La Salle-Zobel, 25-20, 22-25, 25-21, 25-12, the following day to extend its perfect run to five games.

Far Eastern University-Diliman took solo second at 4-1 won-lost after besting Adamson University, 25-23, 25-21, 22-25, 25-21, and UPIS, 25-12, 25-12, 25-17.

The Baby Falcons rebounded from last Saturday’s loss to the Baby Tamaraws with an 18-25, 25-21, 25-19, 25-22 stunner over defending champion University of Santo Tomas (UST).

University of the East forced a three-way tie with Adamson University and UST for third spot at 3-2 by also winning two matches over the weekend, prevailing over De La Salle-Zobel, 25-18, 25-22, 25-21, and Ateneo, 25-15, 25-21, 25-21.

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THE Lady Volcanoes are reaping the success of their hard work.

to yield the gold medal.

“It was a fantastic weekend for women’s rugby in Asia to see 10 teams represented in this tournament—the most we’ve ever had competing for the trophy,” Lady Volcanoes

Head Coach Ada Milby.

The U-18 national team, meanwhile, will fly to India on Wednesday to compete in the U-18s Asia Sevens Championships this weekend in Bhubaneswar.

...as Volcanoes qualify for Hong Kong 7s

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BIKE BRAND LAUNCH Gruppo Innovare Corp. Managing Director JL Gavino (third

from left) and Specialized Asia Hub Commercial Director Gino Abano (second from left) lead the launch of the newest Specialized elite bike store at SM By the Bay at MOA recently. With them are (from left) Specialized Asia Managing Director Hideki Mochizuki, GIC Assistant Sales Manager Justine Pascual and Ritchie Santayana and Miguel Abellada, sales directors of GIC, the authorized distributor of Specialized bicycle components in the country.

HE Philippine Volcanoes came out smoking after seven weeks of intense competition to qualify for the 2019 Hong Kong Sevens, the premier tournament on the World Sevens Series competition.

The Volcanoes, powered by Globe Telecom, reached the final stage of the three-leg 2018 Asia Sevens Series in Sri Lanka recently and settled for the bronze medal behind powerhouses Japan and Hong Kong.

They missed the gold-medal play but clinched the ticket to the Hong Kong Sevens next year by beating host Sri Lanka, 19-7, in the battle for third place.

Earlier in the tournament, the Philippines beat Asian Games gold-medal winner Korea, 34-5, and defeated Southeast Asian Games champion Malaysia, 24-19, a costly victory with the injury of four players and the suspension of Vincent Amar Young for an accidental high ball collision.

With Mark Mapacpac Roberts and Robert Luceno Fogerty out from an accidental head collision, the Volcanoes failed to keep

the momentum of a 12-7 lead early in the match and succumbed to eventual champion Japan, 21-12, but still clinched a berth in the semifinals.

“It’s an amazing feeling. We knew we had the team to do it but to play with only eight fit players against the top teams in Asia and to perform the way we did, I’m over the moon and so proud of the boys,” Volcanoes Captain Christopher Arpon Bird said.

The Volcanoes finish 2018 in third place in Asia and currently sit in first place among their Southeast Asian neighbor, according to their general manager, Jake Letts.

“It’s a special feeling for the team, they deserve it,” Letts said. “The coaching staff and players have worked so hard for a very long period of time. It has taken years to get back to this point.”

It has taken the Volcanoes six years to return to the world’s elite, last qualifying for the Hong Kong 7s in 2012 and reaching the Rugby World Cup Sevens in Moscow a year later.

by Isuzu, Sogo, Senoh, Asics, Mikasa, Mueller, UCPB Gen and Bizooku with ESPN5, Aksyon and Hyper HD as broadcast partners.

Philips is suffering from Achilles tendon injury, while Basas has yet to recover from her ear and shoulder injuries. The timetable for their recovery has yet to be announced as they are still undergoing therapy.

Still, the Lady Realtors vowed to come out fighting with veterans Michelle Laborte and Rubie de Leon leading a relatively young crew composed of Carlota Hernandez, Pam Lastimosa, Jeanette Villareal, Rebecca Rivera, Roselle Baliton, Jackie Estoquia and Jhoanna Maraguinot.

Libero Rica Rivera, Dhannytaine Demontano and Souzan Raslan are also set to do wonders for the Lady Realtors.

“We may be dealing with injuries, but we’re ready to go,” said Pascua, who steered Petron to a sweep of this conference in 2015 with stars Rachel Anne Daquis, Dindin Manabat and Aby Maraño at the helm.

“MJ and Chin are not yet in 100 percent, but some players are ready to step up. We know that the All-Filipino is such a tough tournament, but we’re more than ready to compete and show that we belong.”

Pascua said their goal is to make a semifinal appearance for the first time since joining the league last year.

The closest they ever got to a semifinal finish was in the Grand Prix, when they finished fifth with imports Marisa Field and Kristen Moncks of Canada and Bohdana Anisova of Ukraine doing damage on both ends.

Then, they emerged sixth in the Invitationals, giving them all the reasons to bounce back and march all the way to the semifinals.

“We want to make it to the semifinals— that’s the goal,” Pascua said.

“We are ready. We’re working hard to get there.”

Bullpups sweep weekend rivals

Lady Volcanoes settle for silver in Brunei...

HE national women’s rugby team—Lady Volcanoes—impressed by bagging the silver medal in the 2018 Asia Trophy Series in Brunei Darussalam over the weekend.

The Lady Volcanoes won five straight games but fell short in the gold-medal match against Malaysia, 7-10, in the tournament that included teams from Uzbekistan, Pakistan, India and Nepal in Pool B and Indonesia, Malaysia, Guam, Brunei and Lao PDR in Pool B. Backed by First Pacific and MVP Sports Foundation, the Lady Volcanoes opened their campaign with a 12-10 win over Uzbekistan, 38-0, against Pakistan and 17-10 opposite India. The Philippines handed Nepal a 43-0 loss to top Pool B unscathed.

The Lady Volcanoes progressed to the semifinals and beat Guam, 10-7, to arrange the championship match with Malaysia, who limped with a loss to Guam in Pool B. The final was tightly contested with the Malaysians getting the upper hand at 5-0. The Lady Volcanoes made it 7-5 but ran out of time

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San Beda takes on Perpetual in sneak preview of semis duel

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INAL Four teams San Beda University and University of Perpetual Help clash in what could be a peek of their semifinals matchup in the last elimination play date of the National Collegiate Athletic Association Season 94 seniors basketball tournament on Tuesday at the Filoil Flying V Centre in San Juan City.

The nonbearing match features the top-seed Red Lions (16-1 wonlost) against the No.4 squad Altas (11-6) at 2 p.m.

In the first game, San Sebastian and Arellano University try to end the season on a bright note as they break their 5-12 deadlock at 12 noon.

Concluding the elimination phase is the showdown between semifinalist Letran (13-4) and ousted College of Saint Benilde (98) at 4 p.m.

In its recent heavyweight battle against its rival and second-best team Lyceum (15-3), San Beda flexed it muscle to score a 75-88

win last week.

Robert Bolick and rookie revelation James Canlas carried the scoring load as they each fired 18 points to lead the defending champions to a momentumbuilding victory going to their Final Four campaign.

But first, they must hurdle the challenge of Perpetual Help, which is seeking to get as much confidence as possible before it plunges into a twice-to-beat disadvantage in the semifinals.

“We want to be consistent against Perpetual. After that, we’ll think about the future,” San Beda Head Coach Boyet Fernandez said.

The Altas are coming off a painful 80-82 loss to the Knights on October 12.

Rey Peralta and Edgar Charcos were at the forefront of Perpetual Help’s attack as they tallied 17 and 16 points, respectively, but Letran’s Bong Quinto was simply unstoppable with his game-high 22 points. Ramon Rafael Bonilla

DREAM FULFILLED J EJU ISLAND, South Korea—Brooks Koepka is golf’s new No. 1 after winning the CJ Cup at Nine Bridges on Sunday by four strokes.

Koepka, who displaced Dustin Johnson for the world’s top ranking, shot a final-round eight-under 64 for a 21-under total of 267. Koepka, who had never held the top ranking, led by four strokes after three rounds.

“To be No. 1 is something I’ve dreamed of as a kid,” Koepka said. “I don’t think this one is going to sink in.”

Gary Woodland certainly made it interesting. Woodland started the day five strokes behind Koepka, who was only one-under after nine, but Woodland pulled level after making six birdies in seven holes on the front nine.

The two dueled on the back nine, with Woodland birdieing 15 and 16 to again pull level. But Koepka did the same, and a bogey by Woodland on the par-3 17th gave Koepka the cushion he needed to close out the win despite a birdie on the 18th by Woodland.

The biggest moment came on the 16th. Koepka went from a fairway bunker to just left of the green, about 70 feet away. Koepka hit a chip-and-run that was stopped by the pin and dropped for the birdie.

Koepka finished in style with a 25-foot eagle putt on the 18th for a 29 on the back nine.

“I’m not somebody who’s going to panic if things go the wrong way,” Koepka said of his slow start. “I felt like the one at 15 was quite big with Gary making a charge.”

Woodland finished second after a 63. Ryan Palmer birdied his last seven holes to shoot a course-record 62 and finish in a tie for third place with Rafa Cabrera Bello (65), four strokes behind Koepka.

Woodland was happy with his final round, but looked back to a few missed birdie chances on Saturday.

“Brooks with the lead not much fazes him,” Woodland said. “So you knew you had to make a lot of birdies and I made a lot today. I was trying to put as much pressure as I could. But just shows I was too far back to start after not making too many putts yesterday. I gave myself a chance, I was tied for the lead there. Brooks obviously just made some clutch shots down the stretch.”

Palmer said he became more confident with each of his seven straight birdies on the back nine.

“The more I made, the more free I felt in my swing and I was able to hit some close,” Palmer said. “I made some long putts coming down the stretch. Actually on 17, I looked at my scorecard, I was like, ‘oh, that’s six in a row.’

It is kind of back there, but you don’t think about it. What a special day.”

Defending champion Justin Thomas, who could have

prevented Koepka from moving to No. 1 with a repeat win, finished at five-under after a 68 on Sunday.

Koepka is the third player this year to reach No. 1 for the first time, joining Justin Rose and Thomas. The last time that happened was in 1997, when Ernie Els, Tom Lehman and Tiger Woods each rose to No. 1.

It was Koepka’s 12th victory worldwide, including four wins on the European Challenge Tour. He now has won in six countries—the US, South Korea, Spain, Italy, Turkey and Scotland.

“Everything I’ve done this year it’s been working. So I don’t want to change anything,” Koepka said. “Just keep improving.”

“I’m so excited right now, you have no idea. I can’t wait to go play again.”

He’ll get his chance soon. Next week the Professional Golfers Association Tour heads to Shanghai for the final stop on its Asian swing, the World Golf ChampionshipsHSBC Champions. AP

Sports

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| Tuesday, October 23, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BusinessMirror

KIMI RAIKKONEN (center) celebrated with Max Verstappen (left) and Lewis Hamilton. AP

KIMI, FINALLY, NAILS VICTORY A

BROOKS KOEPKA: To be No. 1 is something I’ve dreamed of as a kid. AP

USTIN, Texas—Kimi Raikkonen’s second stint with Ferrari has been long on frustration and short on victories.

That finally changed on Sunday at the US Grand Prix where the Finnish driver earned his first win in five years, while a good enough day from Ferrari and a late block from Red Bull’s Max Verstappen denied Mercedes’s Lewis Hamilton a fifth career Formula One championship.

A former world champion with Ferrari, Raikkonen hadn’t won after his return to the team in 2014, while teammate Sebastian Vettel fought Hamilton for the championship the last two seasons.

Raikkonen’s most previous win had been with Lotus at the season-opening Australian Grand Prix in 2013. He’d driven his Ferrari to three second-place finishes this season before Sunday’s victory.

Success finally came with a muscular

performance by both driver and car on a day when Hamilton could have clinched the championship with a sixth US Grand Prix in seven years.

Raikkonen seldom cracks a smile or shows much emotion, but he shouted an expletive on the team radio after the final lap. He was then his typical stoic self after a brief victory celebration at the podium.

“It’s nice to win. It doesn’t change my life,” Raikkonen said. “The biggest difference is how people look at you.”

For Hamilton, a rare defeat in Austin means his fight with Vettel for the championship continues to next weekend at the Mexican Grand Prix. Hamilton finished third and Vettel was fourth to stretch Hamilton’s championship lead 70 points with three races left.

Hamilton is trying to match Argentina’s Juan Manuel Fangio, whose five championships in the 1950s rank second in F1 history. Only Germany’s Michael Schumacher has more with seven.

Hamilton could have won the championship on Sunday even without a race victory if he’d finished at least eight points ahead of Vettel. The late blocking move by Verstappen and Vettel’s charge past Mercedes’s Vallteri Bottas in the final laps kept the championship alive.

Hamilton said he had to be cautious around Verstappen to avoid a collision.

“Championships are not won by doing silly mistakes.

I gave him way too much space just be sure that I didn’t get taken out,” Hamilton said. “The key to me was to make sure I finished ahead of Seb. I don’t care when you win a championship, just that you win.”

Verstappen started 18th after damaging his car in qualifying and worked his way through the field to finish second, his fourth podium finish in six races.

“At that turn, I was pushing as much as I could,” Verstappen said. “I was really hanging on.”

Hamilton started on pole position but quickly lost position to Raikkonen on the first turn. The Mercedes tried to squeeze Raikkonen to the inside on the bolt uphill out of the start, but the Ferrari nosed ahead into the left turn into the slingshot back downhill.

Vettel was under pressure from the beginning. He started fifth because of a three-spot grid penalty for driving too fast while under a red flag during a Friday practice. AP

God, our refuge and help

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OD, our refuge and help, You are near to those who call upon You. In faith we pray: God our Savior, hear our prayer. Show Your wondrous mercy to those who grieve over sin. Watch over refugees and lead them to places of safety, peace and love with kind people welcoming them. Grant that the faithful departed especially our loved ones may behold Your face and live forever in Your grace and presence. May God bless us, show us kindness, generosity and fill our hearts with peace, through Christ our Brother. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

THIS undated photo provided

by Netflix shows a home featured in the new Netflix series Stay Here, hosted by real-estate expert Peter Lorimer and and designer Genevieve Gorder. In the show the two help short-stay rental hosts update and improve their properties. A nice welcome gift upon arrival is a thoughtful gesture, says Lorimer. Tasty treats and refreshing beverages, a well-stocked pantry and insider info on your area are some of the items you should provide to greet your renters. NETFLIX

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BOX OFFICE: ‘HALLOWEEN’ SCARES UP $77.5 MILLION IN TICKET SALES D3

Tuesday, October 23, 2018

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Uratex combines comfort and convenience in new mattress offering

VIA AP

By PAuline JOy m. guTierreZ

Preparing a swoon-worthy vacation rental

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By Kim COOK The Associated Press

F you’re thinking of listing your home as a vacation rental, have a listen to what travelers say makes a space inviting and welcoming, and what’s a turnoff.

For starters, amenities and cleanliness matter.

“I would have loved better sheets and towels as well as decent soap and amenities,” says Carol VanderKloot of New York, who was underwhelmed by a recent Michigan rental.

Nice linens are mentioned often in online reviews.

In a poll conducted by Airbnb this summer, travelers rating their vacation experience cared most about the quality of their accommodations, followed by amenities that are functional and thoughtful. So along with nice shampoo, consider a bottle of wine, a bicycle, scooter, sled or fully loaded beach bag.

A host in Los Angeles whose home is popular with young families stocks kids’ books. In Milan, Italy, a host with a pool set up Bluetooth speakers outside.

Focus on potential guests’ comfort, both in your décor and your marketing, says Peter Lorimer, a Los Angeles-based real-estate expert.

He has teamed up with interior designer Genevieve Gorder on a new Netflix series, Stay Here, in which they help homeowners refurbish and redecorate their spaces to make them more attractive to visitors.

“Massively bad for repeat business is dirt,” he warns. “After every guest there needs to be a cleaning plan. Look at this as an investment in your business; if a restaurant is dirty you’ll never go back, and it’s the same with short-term rental.”

Gorder notes that everyone has different standards for tidiness, so it’s best to go pro. “It has to

look, feel and be clean,” she says. “That means having a professional service handle your rental before and after each guest checks out. Your reviews will skyrocket and that’s worth its weight in gold.”

Get rid of stained or worn carpeting, refinish wood flooring and lay fresh tile or new rugs. Provide several good mirrors, as well as storage, and a folder or notes on how to operate things. As Lorimer points out, “the last thing any guest wants is to try and figure out how to use the TV remote or turn the ceiling fan on and off.”

Consider including “insider” suggestions for what to do and where to go in the area. Displaying some local photography or artwork might pique curiosity and help you build a relationship with nearby shop owners, too.

Lorimer suggests drawing up a calendar of fun local events and posting it with your listing. Consider an incentive gift for longer stays, like a gift certificate for a local restaurant, or lift tickets at the ski hill.

Gorder warns against the “junk drawer” effect, where owners try to save by kitting out their rentals with dated furniture and hand-me-downs.

And keep the decor relatively neutral.

“Owners tend to decorate for themselves and how they live instead of for their guests,” she says.

“Home is in many ways a reflection of our most intimate selves. When you turn a property or a room in your home into a short-term rental, it’s time to shift your thinking.” The key is finding a balance: a space that’s neither too personal nor impersonal.

Renters differ about how much personal style they like in a space. VanderKloot enjoyed an array of vintage radios displayed on a shelf in a Michigan home, but appreciated not having kitschy decor in a rental in New Orleans. “The Scandinavian interior in

that rental was a perfect counter-palette to the excess of [the city],” she says.

In an apartment in Copenhagen, New Yorker Darby Drake says she would have appreciated some personal touches. “What turned me off most was how bland everything was. It didn’t quite feel ‘lived-in,’” she says.

Invest in a standout piece or two, if you can. Drake fondly recalls a big, comfy, cowhide lounge chair in a different Copenhagen rental, as well as another great piece: “There was this massive gray bean-bag lounger that was wonderful. After a long day exploring the city, it was great to be enveloped by it.”

The lounger wasn’t shown in the online photos, Drake says. And that could have been a missed opportunity. “The No. 1 reason for guests not booking is bad marketing,” Lorimer says. Cell-phone photos won’t do. “A professional photographer must be engaged, and the whole area needs to be designed or even staged so that the lifestyle is being sold every bit as much as the accommodation,” he says.

“Think of short-term rentals like online dating.

If you take bad pictures and/or don’t dress up for the shots, you just get swiped and forgotten.” Take seasonal photos of your yard or nearby attractions, he suggests, and change them online accordingly.

Consider, too, a well-stocked snack cupboard, some unobtrusive but pleasant home fragrances, a first-aid kit and perhaps some chilled beverages in the fridge upon arrival; small, thoughtful details make even the most modest space welcoming.

“It may be your guests’ first time in your city or town,” Lorimer says. “You may not physically be there, so anything you put in your rental is acting as guide and host. Anticipate what they’ll need before they know they need it. That’s the key to a happy guest.” n

THE newest premium mattress by Uratex, a leading household name in the bedding industry, comes in an 18”x18”x42” box delivered directly to your home. Advertised as the “Trill” brand, it’s also the pioneer mattress variety in the market that has a plush and firm side that can be switched in one easy flip to suit different desired levels of comfort.

The plush layers include TrillTex technology, which easily adapts to the body’s movement, while the Senso Memory Foam conforms to the shape of the body and cradles it in a relaxing way. Meanwhile, the Vital Foam is both firm and bouncy, able to withstand heavier load of mass, and the Orthofirm Foam material helps ease body aches and relieve pressure points.

With sustained use, the Trill mattress can also correct posture by aligning the spine. This has been endorsed by the Philippine Orthopaedic Association.

Each mattress is certified by CertiPUR US, which means that the products are made without ozone depleters, PBDEs, TDCPP or TCEP (”Tris”) flame retardants. The sanitized hypoallergenic feature prevents growth of bacteria, odor, mildew and dust mites. Uratex ships anywhere in the Philippines by two couriers: Transportify for Metro Manila, Calabarzon and Central Luzon areas; and Air21 for other areas in Luzon, the Visayas and Mindanao shipments.

Trill return’s policy has a 100-night money-backguaranteed trial, which begins on the date that the mattress is delivered to you. Should the mattress not adjust to your preference by then, you can reach out to a designated brand agent.

Uratex is also launching a Trill Pillow in November to complete the Sleep Solution set. It is a hotel-feel down alternative pillow that has a 300-thread count cover. Unlike “down” pillows that use feathers from water fowl (geese and ducks) as natural fills, “down alternative” pillow fills use synthetic polyester microfibers.

“We provide customers with a quality bed, worries and exhaustion cast aside,” said Uratex Senior Brand Manager Love Sacluti during the launch of the product at Ronac Lifestyle Center in Magallanes.

Moreover, she said that Uratex is pushing its mattress line to the millennial market (defined by the Pew Research Center as ages 22 to 37 in 2018). Despite the generation having the biggest purchasing power in today’s economy, going to store locations can be an unnerving task for them. According to Sacluti, the age group is mobile-centric and are smart shoppers, and Uratex continues to innovate to be onboard the fast-paced retail environment. n Trill: Mattress in a Box retails for P16,000 to P32,000, depending on measurement variation. It is available exclusively on www.trillbyuratex.com.

Design Center champions bamboo as PHL natural design language ON the 68th edition of Manila FAME, the country’s premier design and lifestyle event held recently at the World Trade Center in Pasay City, the Design Center of the Philippines showcased the potential uses of bamboo through the creation of designforward home, lifestyle and adventure products in its exhibits, Bamboo 360o and Bamboo Extreme 2.0.

“We grew up with bamboo, so we can use our natural design language of bamboo and bring it to the next level, in terms of bringing innovation and using it as a form of expression of our creativity and our vision of the future,” Design Center Executive Director Rhea Matute remarked during the exclusive media preview of Manila FAME

exhibits at LRI Design Plaza.

“For this year’s installment of Bamboo Extreme, which was Bamboo Extreme 2.0, iterations of new concepts in mobility using bamboo as a material were showcased. We are proud to have featured this in our bamboo setting in Manila FAME, together with the prototypes for Bamboo 360o,” Matute added.

Previewed at the LRI, the bamboo setting takes its inspiration from the Japanese practice of shinrinyoku, or forest bathing. The bamboo canopy housed two of the bamboo-made products that were

COnTinued On d4

FROM left: CEO and Design Director at MEEP Inc. and Banatti Christopher Lacson, COMP Executive Director Ronald Recidoro, Design Center Executive Director Rhea Matute, PNIA Chairman and President of Marcventures Holdings Inc. Isidro Alcantara Jr., PNIA Chairman Emeritus and Chairman of the PNIA Committee on Sustainability Clarence Pimentel Jr. and PNIA Executive Director Charmaine Olea-Capili

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Tuesday, October 23, 2018

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www.businessmirror.com.ph

‘Leave No Trace’ looks at mental-health recovery

By Oline H. Cogdill The Associated Press

Lucas and his father, Josiah, made headlines when they vanished in the wilds of the massive Boundary Waters along the Canadian border. No sign of either was spotted until Lucas was found burglarizing a camping outfitter store and got into an altercation with the owners.

The reappearance of the young man missing for 10 years puts the Congdon facility—and Maya—under scrutiny with protesters demanding Lucas’s release and with reporters camping outside the facility.

Lucas keeps trying to escape to return to his father, refusing to tell anyone where Josiah is, even Maya.

Their connection will help each of them make new discoveries about themselves.

The excellent Leave No Trace works well as a look at mentalhealth recovery, surviving in the wild and navigating a media frenzy.

The maturation of Maya and Lucas enhances the story as Mejia delves into their backgrounds and provides an intense look at Josiah’s motives for disappearing. The bad decisions each makes are the result of inexperience and naivete. Each has lost a parent, and this deeply affects their lives and actions.

A strong sense of place infuses Leave No Trace, especially the expansive Boundary Waters—a place of wild beauty in which a person can get lost, and can “feel the razor gaze of the eagles soaring.” n

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YOUNG woman’s determination to overcome her past mental problems tests her resolve when she becomes involved in the high-profile case of a violent young man in the superior Leave No Trace (Emily Bestler Books/Atria) by Mindy Mejia.

A few short years ago, Maya Stark was a patient at the Congdon Psychiatric Facility just outside Duluth, Minnesota. Her breakdown was caused by myriad situations, including her mother’s abandonment.

Maya has progressed beyond that time, attended college and now works at the facility as an assistant speech therapist. Although she relates well to her patients, Maya has no friends.

Most of her coworkers refer to her as “that little punk girl.” Maya claims that she feels “something vital in the loneliness, an imperative that I keep the space around me empty and weightless.” She only relates to her father, Brian, who runs a tugging and towing service out of the Duluth and Lake Superior harbors; her boss, Dr. Riya Mehta, who was once her psychiatrist; and her German shepherd, Jasper.

Maya knows she’s unqualified to handle her latest patient—Lucas Blackthorn, a violent 19-year-old who has only responded to Maya since he has been committed. A decade ago,

‘TRUST ME’ IS STELLAR THRILLER

BY HANK PHILLIPPI RYAN

A FORMER journalist has a chance at redemption and recovery of her shattered life when she receives an offer to write about a heinous trial in Hank Phillippi Ryan’s stellar thriller, Trust Me (Forge Books).

Mercer Hennessey was a well-respected news writer but she gave it up to be with her family. She was a loving wife and devoted mother, but an accident changed everything and now she’s a widow. She knows she needs to pick herself up but doesn’t dare take that first step back to the real world.

When her former boss offers her the chance to write a tell-all book about a significant trial, Mercer can’t refuse.

A television feed from the courtroom to her living room will allow her to stay private while also rediscovering the joy of writing.

The issue Mercer has to grapple with is the case itself.

Ashlyn Bryant is accused of murdering her young daughter.

Her alibi shifts constantly, and she seems to have excuses for every piece of evidence provided by prosecutors.

Mercer quickly sees the case as a chance to move past the death of her husband and daughter, and she will do this by seeing justice done in the trial against Bryant. As Mercer digs deeper and begins to chronicle the proceedings, she begins to find holes that might change what she thought was an inevitable outcome. Can Mercer overcome her pain of loss to uncover the truth? Can she trust herself to find those journalistic skills again?

Ryan is an expert at telling a story that invokes suspense with emotional resonance. Strong feelings like grief, anger and love ooze off the page, while realistic characters make the reader care about every tiny detail of the story. And just when it starts to lean toward being predictable, Ryan throws in a huge twist to completely upend the narrative.

Trust Me when I say that her latest is her best novel to date. AP

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By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ryan Reynolds, 42; Cat Deeley, 42; Weird Al Yankovic, 59; Dwight Yoakam, 62.

HAPPY BIRTHDAY: Strive for peace and tranquility.

Walk away from adversity. Balance, equality and integrity will guide you to a positive end result. Purge, plan and take a progressive step forward. Leave what doesn’t work for you anymore in your rearview mirror and concentrate on what’s doable and will lead to the lifestyle that suits you best. Change requires initiative, foresight and desire. Your lucky numbers are 2, 9, 14, 27, 32, 38, 49.

a

ARIES (March 21-April 19): Think twice before you respond. Emotions will take over if you let someone test your temper. Gravitate toward people who share your beliefs and have an interest in similar goals. HHH

b

TAURUS (April 20-May 20): Hold back information if it will buy you time to tweak what you are working on or trying to achieve.

Learn from someone with experience when it comes to making physical moves that can alter your looks, future or position. HHH

c

GEMINI (May 21-June 20): Dig in and get things done. Now is not the time to discuss your plans; it’s time to initiate the change that will put you in a better position. Take charge and stay focused on the end result. HHHH

d

CANCER (June 21-July 22): Take control and do what you do best. Set your priorities straight, and make it clear to everyone around you what you want and what you are willing to give.

Partnerships will be to your advantage and promote unique results. HH

e

LEO (July 23-Aug. 22): Get the lowdown before confronting someone about matters that will affect your relationship. Once you’ve expressed your thoughts and feelings, you cannot take your words back. Show compassion, patience and understanding, and try your hardest to get along.

HHHHH

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VIRGO (Aug. 23-Sept. 22): Make a statement, and you’ll make a difference.

Speak up, share your thoughts and be ready to act. Be a part of the solution, and you’ll make new friends while earning respect and support from people who have something unique to offer. HHH

g

LIBRA (Sept. 23-Oct. 22): Instigate what you want to see happen. How you move forward will make a difference in the way you feel about who you are and what you stand for.

Don’t back down. Make your voice heard and your actions count. HHH

2018 BEST PHL BOOKS HONORED WITH GINTONG AKLAT AWARD THE best of the best in Philippine publishing were recently honored in the Gintong Aklat Awards 2018 held recently at the SMX Convention Center during the 39th Manila International Book Fair.

Organized by the Book Development Association of the Philippines, Gintong Aklat Awards 2018 celebrates excellence in the Philippine book industry by giving recognition to books written, edited, illustrated and published by Filipinos.

Sacada: A Catalog of Commodities from a Period of Glorious Tumult, by Alan Navarra and published by Visprint Inc. follows an experimental form that mixes typography, sketches, poetry and more. It won the top awards in two categories: Literature in Filipino and Best Book Design.

The anthology May Tiktik sa Bubong, May Sigbin sa Silong (Ateneo de Manila University Press), edited by Allan Derain, also won for Literature in Filipino.

Also named winners are Aimless Walk, Faithful River/The Poet Learns to Dance, the Dancer Learns to Write a Poem (Ateneo de Manila University Press) by Simeon Dumdum Jr. and VJ Campilan’s debut novel All My Lonely Islands (Anvil Publishing Inc.), both for Literature in English.

All My Lonely Islands had previously received the grand prize for the Novel category at the 2015 Carlos Palanca Memorial Awards for Literature and the 2017 Madrigal-Gonzalez Best First Book Award.

Today’s Horoscope

Winners in other categories are Bamboo Whispers, Poetry of the Mangyan (The Boomark Inc.), edited by Lolita Fansler, Quintin Pastrana, Raena Abella, Emily Catapang for the Arts and Humanities category; and Edgie Polistico’s Philippine Food, Cooking and Dining Dictionary (Anvil Publishing Inc.) for the Food category; Fr. Manuel Blanco’s Flora de Filipinas (Vibal Foundation Inc.), edited by Dr. Domingo Madulid for the Natural and Applied Science category; and Science Philippines: Essays on Science by Filipinos (Volume IV) (University of the Philippines Press), edited by Dr. Gisela Padilla-Concepcion in the Science and Technology category.

Completing the list of winners are The World of the Manila-Acapulco Galleons: The Global and Human Context (Vibal Foundation Inc.) by Sen. Edgardo J. Angara and Dr. Carlos Madrid for the Social Science category; and Lifeline: A Layperson’s Guide to Helping People in Crisis (Anvil Publishing Inc.)

by Queena Lee-Chua, Lourdes Joy Galvez-Tan, Melissa Garabiles, Ma. Tonirose de Guzman-Mactal and Mary Jane Bergado-Flores for the Inspiration and Self-Help category.

Established in 1981, the Gintong Aklat Awards is held every two years to give recognition to the cream of the crop in local publishing, evaluating books based on overall excellence—from quality of production, to design and content.

h

SCORPIO (Oct. 23-Nov. 21): Look for options that are unique. Doing things differently will give you a new perspective on how to move forward. Think big, but when it comes to making decisions or taking action, be moderate. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Take care of business. Stepping up and getting things done will have an impact on the way you feel and the way others treat you. Accomplishment is the antidote for feeling down and out. HHHHH

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CAPRICORN (Dec. 22-Jan. 19): Stay calm, even if you are blindsided with an emotional situation. Counter with a good attitude, kindness and consideration. Positive change will help you persuade others to see and do thing your way. HH

k

AQUARIUS (Jan. 20-Feb. 18): A reunion can bring back both good and bad memories. Don’t let anyone take advantage of you or pressure you into doing something that you don’t want to do. Arguing will be detrimental. HHHH

l

PISCES (Feb. 19-March 20): Set your course and stay on track. You can wheel and deal, negotiate, draw up and sign contracts or anything else that will bring you greater stability.

Celebrate your success with someone you love.

Personal change is favored. HHH BIRTHDAY BABY: You are ambitious, responsible and persistent.

You are strong-willed and competent.

‘air traffic’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Prepares, as tea 6 Cancel, as a blast-off 11 H.S. science class 14 Like a new candle 15 Not a soul 16 At home worker?

17 Butter providers 19 “Dig in!”

20 Run off to wed 21 Citrus fruit 23 U-turn from gabs 26 Bumstead’s tree?

27 Doffs one’s cap 28 Some sailors 29 Sporty car features 30 Admiral’s charge 31 Back, on board 34 Makes goofs 35 Nixon’s defense secretary 36 Make angry 37 Used a bench 38 The Marines, e.g.

39 Cheech of weed films

0 Perfect splits 4 42 Definitely not apparent 43 Mustache relatives 45 Lovers of cruelty 46 Drumming muppet 47 Moms, in Paris 48 Balsam, for one 49 They make things like new 54 Enemy 55 ___ manual 56 Right to the point 57 “30” in editing 58 A song of David 59 Circle, as planets DOWN 1 Flower-to-be 2 Messenger molecule 3 Whitney of the gin 4 Eavesdropping invasions 5 Surgery slicers 6 Thin cookies 7 Pigeon house 8 Decay 9 Set free

0 Potbelly 1 11 Argentinan capital 12 Post-pupa insect 13 Chose (with “for”) 18 U-turn from pros 22 Beard grown on a farm?

23 Medieval instruments 24 “Mural” attachment 25 Like some cats 26 Go-getters 28 Control tower images 30 Cabbie’s quests 32 Be a coquette 33 Some army shelters 35 Devoid of affection 36 Seizer by force 38 Explain to perfection 39 City in California 41 Banking convenience 42 Vikki or John Dickson 43 Huge blunder 44 Pungent veggie 45 Earthquake relative 47 Loose, crumbly deposit

0 Title veggie in a fairy tale 5 51 Globe, poetically 52 Tire letters 53 Collector’s quest

Solution to yesterday’s puzzle:

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MARVEL UNIVERSE A SLICE SMALLER WITH ‘LUKE CAGE’ CANCELLATION THE Marvel universe just got a slice smaller on Netflix with the cancellation of Marvel’s Luke Cage after two seasons. The news on Friday surprised fans and came soon after Netflix axed another live-action Marvel series, Iron Fist. Both are part of The Defenders world and ordered up by Netflix among five back in 2013.

“Unfortunately, Marvel’s Luke Cage will not return for a third season,” said a statement released by Netflix. “Everyone at Marvel Television and Netflix is grateful to the dedicated showrunner, writers, cast and crew who brought Harlem’s Hero to life for the past two seasons, and to all the fans who have supported the series.”

Netflix didn’t provide a reason for the cancellation.

An e-mail request for additional comment was not immediately returned on Saturday.

The Cage series made a splash when it was released because it featured a rare black superhero in a standalone vehicle. Mike Colter starred as the bullet-proof hero for hire. The second season premiered in June.

Cage creator and showrunner Cheo Hodari Coker responded on Twitter but also offered no insight into why the series was dumped.

“A lot memories. A lot of individual thank you calls to make,” he said. “Just want to say thank you to Marvel, Netflix, the best Writer’s room, cast, crew, the Midnight Hour, all those who graced the stage at Harlem’s Paradise and the most incredible fan base in the world. Forward always...”

Disney, Marvel’s parent company, is working on its own streaming service. AP

Amy Schumer supports Kaepernick, sits out Super Bowl ads DON’T look for Amy Schumer in any Super Bowl LIII commercials this time around. She’s sitting this one out as she stands with Colin Kaepernick and his takea-knee protest against racism and police brutality.

The comedian and I Feel Pretty actress explained her stance at length on Friday on Instagram, challenging white National Football League (NFL) players to kneel, as well. Addressing them directly, she wrote: “Otherwise how are you not complicit?”

Of her plan to steer clear of Super Bowl ads, she said: “I personally told my reps I wouldn’t do a Super Bowl commercial this year. I know it must sound like a privilege ass sacrifice but it’s all I got.”

Diddy, Jessica Seinfeld and Christie Brinkley offered her support among more than 8,000 comments left on her post. It was not immediately clear whether she had been approached to appear in an ad during the big game.

In 2016 Schumer appeared with Seth Rogen in a political-themed campaign for Bud Light, “Raise One to Right Now,” during Super Bowl 50.

“Hitting the NFL with the advertisers is the only way to hurt them,” Schumer wrote of her ban.

“I know opposing the NFL is like opposing the NRA. Very tough....” AP

Tuesday, October 23, 2018

‘Halloween’ scares up $77.5 million in ticket sales

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By lindsey BAHr The Associated Press

OS ANGELES—Forty years after he first appeared in theaters, Michael Myers is still drawing huge audiences for a good scare.

Universal Pictures said on Sunday that Halloween took in an estimated $77.5 million in ticket sales from North American theaters.

It captured first place at the box office with the second-highest horror opening of all time, behind last year’s It. It also marked the second-highest October opening ever behind Venom’s $80.3-million launch earlier this month. The studio also says it’s the biggest movie opening ever with a female lead over 55, in star Jamie Lee Curtis.

David Gordon Green directed Halloween, which brings back Curtis as Laurie Strode and Nick Castle as Michael Myers and essentially ignores the events of the other sequels and spinoffs aside from John Carpenter’s original.

Reviews have been largely positive for the new installment, with an 80 percent fresh rating on Rotten Tomatoes and a “B+” Cinema Score from audiences that were mostly older (59 percent over 25) and male (53 percent). Internationally, Halloween earned $14.3 million from 23 markets.

Blumhouse, the shop behind Get Out and numerous other modestly budgeted horror films, coproduced Halloween with Miramax. It cost only $10 million to make. “You take the nostalgia for Halloween, especially with the return of Jamie Lee Curtis, and you combine that with the Blumhouse brand and its contemporary currency in the genre and it just made for a ridiculously potent combination at the box office this weekend,” said Jim Orr, Universal’s president of domestic distribution.

With 10 days to go until the holiday, including another weekend, the studio expects Halloween to enjoy a much longer life than typical horror films that usually drop off significantly after the first weekend.

Halloween was enough to bump the comic-book film Venom out of the No. 1 spot and into third place. In its third weekend in theaters, it collected $18.1 million, bringing its domestic total to $171.1 million.

Meanwhile A Star Is Born held on to second place in its third weekend with $19.3 million. The Bradley Cooper and Lady Gaga drama has grossed $126.4 million from North American theaters and is cruising

to break $200 million worldwide on Sunday.

Damien Chazelle’s Neil Armstrong biopic First Man tumbled to fifth place in its second weekend earning $8.6 million, down 46 percent from its launch.

It was a particularly busy week at the box office as critically acclaimed films such as the young adult adaptation The Hate U Give and the Robert Redford swan song The Old Man & The Gun expanded nationwide after a few weeks in limited release.

The Hate U Give, now in 2,303 locations, placed sixth with $7.5 million, and The Old Man & The Gun took 10th with $2.1 million from 802 locations.

A number of well-received indies also made their debuts. At the top was Jonah Hill’s directorial debut Mid90s, which opened in four theaters with $249,500 (or a $62,375 per theater average).

The Melissa McCarthy film Can You Ever Forgive Me, about the literary forger Lee Israel, grossed $150,000 in five locations.

October has never been a particularly strong boxoffice month, but 2018 has helped to change that. The weekend was up nearly 72 percent, from the same weekend last October and the year to date is up nearly 11 percent.

“The industry is on a major roll right now,” said comScore Senior Media Analyst Paul Dergarabedian.

“Audiences are responding to movies big and small right now—You can have your cinematic fast food and fine dining all at once right now. The moviegoing experience is as viable and relevant as ever.”

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

Where available, the latest international numbers for Friday through Sunday are also included.

1. Halloween, $77.5 million ($14.3 million international) 2. A Star Is Born, $19.3 million ($22.8 million international) 3. Venom, $18.1 million ($32.3 million international) 4. Goosebumps 2: Haunted Halloween, $9.7 million ($6.2 million international) 5. First Man, $8.6 million ($13.4 million international) 6. The Hate U Give,$7.5 million 7. Smallfoot, $6.6 million ($14 million international) 8. Night School, $5 million ($1.5 million international) 9. Bad Times at The El Royale, $3.3 million ($2.5 million international) 10. The Old Man & The Gun, $2 million.

Estimated ticket sales for Friday through Sunday at international theaters (excluding the US and Canada), according to comScore: 1. Venom, $32.3 million 2. A Star Is Born, $22.8 million 3. Project Gutenberg, $14.7 million 4. Halloween, $14.3 million 5. Smallfoot, $14 million 6. First Man, $13.4 million 7. Goosebumps 2: Haunted Halloween, $6.2 million 8. The Spy Who Dumped Me, $5.7 million 9. Lost, Found, $5.3 million 10. Hichki, $4 million. n

MAJA SALVADOR TAKES OVER HALF-TIME BREAK AT TFC’S ‘KAPAMILYA PLAYOFFS IN TAIWAN’

HAYDEN KHO, Vicki Belo and Scarlet Snow Belo at the Walt Disney Animation Studios in Burbank, California

SCARLET poses by Edna Marie “E” Mode from The Incredibles

SCARLET poses by the Pixar ball at the Pixar Animation Studios in Emeryville, California

Scarlet Snow Belo goes behind-the-scenes at Disney EXCITEMENT filled the Internet when posts of celebrity toddler Scarlet Snow Belo surfaced while in the US to visit Walt Disney Animation Studios where press and influencers from around the globe participated in an immersive experience for the much-awaited sequel Ralph Breaks the Internet.

The adorable daughter of Dr. Vicki Belo and Dr. Hayden Kho recently capped a fun-filled and memorable adventure where she tried voice acting as Vanellope von Schweetz and learned how to draw Ralph Breaks the Internet characters from legendary Disney artist Mark Henn. Amazed at Henn’s works, Hayden shared that Scarlet even exclaimed “Good job!” upon seeing the drawings. Scarlet was also able

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to interview the film’s cohead of story and fellow Filipino, Josie Trinidad.

Scarlet’s smarts left the netizens delighted as she attentively listened to instructions and conversations in all the sessions, from dubbing to her interviews with the filmmakers. The family relished the experience as one of their most memorable bonding trips, “The people in Disney and Pixar are first-class creative geniuses. The process that is involved in making the films are mind-blowing. The moment you step into their buildings, you can feel there’s really something different—there’s really magic,” shared Hayden.

“I’ve done so much traveling but this chance to see

firsthand how Disney and Pixar make magic come alive was a super fun and special experience,” said Vicki.

The Belo-Kho family subsequently traveled up to San Francisco to visit Pixar Animation Studios where they got to immerse themselves in the world of Pixar where they learned about animation filmmaking at the studio, got an exclusive opportunity to go through the archives of Pixar past films, attend drawing workshops and met up with Filipino Pixar artists Bobby Rubio, Paul Abadilla, Gini Santos and John Chua.

Ralph Breaks the Internet: Wreck-Ralph 2 opens in cinemas on November 21.

TAICHUNG, Taiwan—It is a back-to-back win for the overseas Filipinos in Taiwan with The Filipino Channel (TFC) bringing not only an all-star basketball team lineup but also a worldclass half-time break performance from no less than Maja Salvador, at the upcoming “Kapamilya Playoffs in Taiwan” happening on November 18 at the Fengyuan District Stadium in Taichung, Taiwan.

The Kapamilya Playoffs in Taiwan event will be kicked off by the game between the champions from the RJD Basketball League and in the TaiPhil Basketball League.

The winning team in the first game will challenge the Star Magic team composed of Gerald Anderson, JC de Vera, Ronnie Alonte, Vin Abrenica, Axel Torres, Zeus Collins, Jimboy Martin, JV Kapunan, Jose Sarasola and Gerard Acao.

Maja Salvador will fire up the dancefloor with the show-stopping performance she’s prepared especially for the overseas Filipinos in Taiwan, which will be witnessed during the half-time break of the game between the champion team and the Star Magic team.

Catch TFC’s weekly playoffs www. updates via TFC Online (www. ). Tickets to the game are TFC.tv). priced at NTD 600 for General Admission, NTD 1000 for Patron and NTD 1,800 for VIP.

JAMIE LEE CURTIS revisits the nightmare with Halloween, which emerged as the No. 1 film on its opening weekend, taking in an estimated $77.5 million in ticket sales from North American theaters.

D4

Tuesday, October 23, 2018

Art

BusinessMirror

www.businessmirror.com.ph

In a busy month for art fairs, FIAC counts collectors among its treasures

T

By Ted Loos New York Times News Service

HE world’s art collectors, busily acquiring treasures, may not always realize that they are hot commodities themselves.

Collectors are greatly sought after by art fairs, because without them, there is no one to buy all those paintings, sculptures and room-size installations. And that means no event.

As fairs have proliferated beyond anyone’s wildest dreams, patrons have ever more choices. A partial list for October—one of the busiest fair months of the year—includes not only Frieze London and Frieze Masters, but also Art Toronto, Tefaf New York Fall and the Korean International Art Fair.

So how do collectors decide which ones to attend and which ones to skip?

The International Contemporary Art Fair, or FIAC, has the attention and patronage of New York collector Carole Server because it is a “feel-good fair,” she said.

The Parisian event will stage its 45th edition at the Grand Palais from Thursday to Sunday.

“What’s not to like?” asked Server, who is a trustee of the Bronx Museum of the Arts. “It’s Paris in October, with great museums, food and shopping.

And the Grand Palais is one of the most beautiful venues for looking at art.”

Server, who last year purchased works by Eddie Martinez and Pieter Schoolwerth at FIAC, added that she prefers it to the Frieze fairs: Because they are two weeks apart, some non-European collectors who have to travel to the Continent find themselves choosing between Paris and London.

FIAC has been thriving of late. This year it is attracting about 195 galleries from 27 countries, and about one-third of the participants are French.

The fair has maxed out its envelope and will not be increasing its dealer list anytime soon.

“We don’t have any more capacity in the Grand Palais,” said Jennifer Flay, FIAC’s director. “Our galleries would all like more space.” She added that the issue might be alleviated after the building undergoes a renovation that is expected to be finished in 2023.

Flay has had a major role in determining FIAC’s shape since 2004, first as artistic director and now as general director, and she said that striking a balance between veteran dealers and newcomers was a core part of her mission.

In the veteran category are the Paula Cooper Gallery, Gladstone Gallery and Hauser & Wirth. But Flay emphasized “the extraordinary selection of young galleries” this time around, some of which are in the Lafayette sector, for emerging dealers.

One of those galleries, Bonny Poon of Paris, is only one-year-old, and FIAC will be its first major fair.

Poon, an artist who runs the gallery with Nathaniel Monjaret, said her booth was a collaboration of the “secret society” known as FPBJPC (which stands for Franco Polish Black Jeans Porn Club, among other things) and artist Jim Joe. Like so many contemporary artworks, it is complicated: The center of the booth is a disemboweled 2003 Volkswagen Jetta, missing its engine and other crucial parts, shipped from New York. The car will be covered in text, and other works

for fall 2019 at the Contemporary Art Center in Cincinnati. “A show like that can move the needle a bit,” Matt Bangser, a partner in Blum & Poe, said of interest in Colescott.

Blum & Poe has attended FIAC for the past four years and has usually done solo shows.

“We don’t have a gallery in Europe and we find that a fair is a nice opportunity to highlight an artist that people may not see otherwise,” Bangser said. “And at a moment of art fair fatigue, it can be good to focus on one artist.”

That fatigue is one big reason that Flay has trained much of her energy on Hors les Murs, or Outside the Walls, a series of programs that take place all over the city. “Paris has these beautiful patrimonial sites; it’s very unusual for a fair,” she said. “We’ve got these incredible features in a country that is steeped in culture.” Hors les Murs tries to build on that foundation without gilding the lily. In collaboration with the Louvre, 30 works will be placed outside in the Tuileries Gardens, by artists scheduled to include Robert Indiana, Alicja Kwade, Per Kirkeby, Alexander Calder and Richard Long.

Over at the Musée National Eugène Delacroix, British artist Rebecca Warren will show two sculptures. (Delacroix, a 19th-century painter, is currently the subject of a large retrospective at the Metropolitan Museum of Art, which is co-organized with the Louvre.) On the Place Vendôme, the provocative duo known as Elmgreen & Dragset will address climate change with an installation called To Whom It May Concern. n

ACRYLIC AND PORCELAIN PAINTING EXHIBIT AT SUNSHINE PLACE

will be hung inside and around it. The vehicle’s journey to Paris and presence in the Grand Palais can be seen as a parable of “contemporary art’s unrelenting drive,” Poon said, as well as showing how art fairs are just “a conglomerate of pop-ups.”

FIAC also serves up more traditional art. Paris’s Galerie Lelong, which also has a branch in New York, will be showing works by modern masters Pierre Alechinsky, Jean Dubuffet and Joan Miró.

“The challenge for a gallery is to be immediately recognizable, and yet not the same every year,” said Lelong’s owner, Jean Frémon. “We wanted the presentation to be strong and simple, and things we’re known for.”

The booth includes Miró’s Oiseau Solaire,

(1966-1997), an “important and rare” sculpture in bronze, Frémon said, chosen in part because there is a retrospective of the artist’s work in another part of the Grand Palais.

Blum & Poe, which has branches in Los Angeles, New York and Tokyo, offers works on paper and paintings by Robert Colescott (1925-2009).

The painter is perhaps best known for George Washington Carver Crossing the Delaware: Page From an American History Textbook (1975), depicting the pioneering black scientist and inventor in the famous boat-astride pose ascribed to the first American president.

The gallery represents the Colescott estate and presents him with an eye to a retrospective scheduled

Norberto Carating’s ‘Deep Forest’

BLACK River 2, 122 x 152cm, 2018, Norberto Carating

ONGOING at the Globe Art Gallery is Norberto Carating’s Deep Forest exhibition.

Organized by Hiraya Gallery, the exhibition features 30 large canvasses of the artist’s trademark striated lines.

In this series, the artist has switched to a more free-handling of lines, sending them in various directions, really bold and gestural.

A graduate of Advertising Design at the University of the Philippines, there is no doubt that Carating’s heart was in painting. As art critic Cid Reyes says, “Indeed, an indication of Carating’s fertility is a newfound renaissance in the geometric

works of sheer abstraction, characterized by the now familiar furrowed or finely combed textural surface, remorselessly finessed, architecturally constructed, calibrated to the finest nuances of light, seemingly mechanically produced except for the undeniable presence of a guiding intelligence.”

Deep Forest runs until November 16. Globe Art Gallery is located at The Globe Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig.

For more information, visit www.hiraya. com.

SUNSHINE Place, a senior recreation center, has become a venue in creating great artworks and artists.

Two regular art classes in Sunshine Place are the acrylic painting class of Fidel Sarmiento, president of Arts Association of the Philippines, and the porcelain painting class of Mee Lee Casey, a Malaysian expat wife has been teaching this art form in the United Kingdom, Hong Kong and Australia for more than 20 years.

Both instructors have developed both senior and non-senior students in discovering the untapped artistic talent they have, turn it into a hobby, then become artists selling their works.

A few acrylic painting students have sold a couple of paintings, done commissioned work and joined several national and local exhibitions, garnering honorable mentions and runners-up citations. Porcelain painting students have not only exhibited their artworks, but also discovered friendships and a passion for art.

While art has colored their lives, this time they would like to color lives of those who need smiles, positivity, hope and love. With their combined acrylic and porcelain painting exhibit launch on October 27 at Sunshine Place, the students will not only showcase their talent but will also raise funds for San Lorenzo Ruiz Home for the Elderly in Pasay City.

The home is managed by the French nuns of the Little Sisters of the Poor since 2012. They pick up old people from Metro Manila, clean, take care and feed them nutritious food. The congregation’s mission in Manila is to give respect and dignity to the elderly. The upcoming exhibit is open to the public. Everyone is invited to see paintings on canvas and porcelain plates, raise funds and color someone’s life.

The Coloring Lives exhibit will be launched on October 27 at 4 pm. It will run until October 30, with viewing from 9 am to 6 pm at the roof deck of Sunshine Place Senior Recreation Center.

Design Center champions bamboo as PHL natural design language Continued from D1 featured in Manila FAME, Bambino by Bambike Revolutions and Eco-Padyak by Milo Naval. The former is a scoot bike that was recently awarded the Good Design Award, Japan’s most prestigious and recognizable design award; and the latter is inspired by the definitively Filipino tricycle and pedicab, which won the Editor’s Choice by Locale Magazine.

A new version of the Green Falcon by Banatti, an electric motorcycle with a marine-lacquered bamboo bodywork, was also featured in the Design Center’s exhibit at Manila FAME. “Our partnership with the mining sector is to help

in the propagation of bamboo and using bamboo as a material on a horizontal application—it’s really finding more industries in which bamboo can be used.

The partnership with the mining communities aims to close the supply-chain gap,” Matute said of Design Center’s Manila FAME exhibit copresenter Philippine Nickel Industry Association and event partner Chamber of Mines of the Philippines in their efforts to transform post-mining communities.

Matute added that the agency’s partnership with the mining sector aims to instill a commitment to the circular economy, particularly in the way we create and consume products. The executive director also said that the Design Center is looking forward to

realizing the vision of the mining sector to develop agro-industrial estates in the communities they are involved in.

“We will fortify the collaboration between our partner agencies, the Design Center of the Philippines and the Philippine Nickel Industry Association, as they reinforce the evolution of bamboo as a raw material of functional yet remarkably designed pieces,” Citem Executive Director Pauline Suaco-Juan noted.

Meanwhile, Executive Director Matute said that the Design Center, a sister agency of Citem, will always help in showing the world the true potential of what Philippine creativity and design has to offer.

FIDEL SARMIENTO

FRANZ WEST’S Dorit is displayed in the Tuileries Gardens in Paris as part of the International Contemporary Art Fair, or FIAC. A special series of programs called Hors les Murs, or Outside the Walls, takes place all over the city. MARC DOMAGE VIA THE NEW YORK TIMES